Document:

EX-10.1

 Exhibit 10.1 

TRANSENTERIX, INC. 

AMENDED AND RESTATED 

INCENTIVE COMPENSATION PLAN 

Amended and Restated as of May 24, 2018 
  

 TRANSENTERIX, INC. 

AMENDED AND RESTATED 

INCENTIVE COMPENSATION PLAN 
  

							
	 1.
	  	Purpose	  	 	2	 
	 2.
	  	Definitions	  	 	2	 
	 3.
	  	Administration	  	 	7	 
	 4.
	  	Shares Subject to Plan	  	 	8	 
	 5.
	  	Eligibility; Per-Person Award Limitations	  	 	9	 
	 6.
	  	Specific Terms of Awards	  	 	9	 
	 7.
	  	Certain Provisions Applicable to Awards	  	 	14	 
	 8.
	  	Performance Awards	  	 	16	 
	 9.
	  	Change in Control	  	 	17	 
	 10.
	  	General Provisions	  	 	19	 
	 EXHIBIT A
	  	 	A-1	 

  
  

  
 i 

 TRANSENTERIX, INC. 

AMENDED AND RESTATED 
 INCENTIVE
COMPENSATION PLAN 
 1.    Purpose. The purpose of this AMENDED AND RESTATED INCENTIVE COMPENSATION PLAN, as amended
from time to time (the “Plan”), is to assist TRANSENTERIX, INC., a Delaware corporation (the “Company”) and its Related Entities (as hereinafter defined) to attract, motivate, retain and reward
high-quality executives and other employees, officers, directors, consultants and other persons who provide services to the Company or its Related Entities by enabling such persons to acquire or increase an ownership interest in the Company in order
to strengthen the mutuality of interests between such persons and the Company’s stockholders, and providing such persons with incentives to expend their maximum efforts in the creation of stockholder value. 

2.    Definitions. For purposes of the Plan, the following terms shall be defined as set forth below, in addition to such
terms defined in Section 1 hereof and elsewhere herein. 
 (a)    “Award” means any Option,
Stock Appreciation Right, Restricted Stock Award, Deferred Stock Award, Shares granted as a bonus or in lieu of another Award, Dividend Equivalents, Other Stock-Based Award or Performance Award, together with any other right or interest, granted to
a Participant under the Plan. 
 (b)    “Award Agreement” means any written agreement, contract
or other instrument or document evidencing any Award granted by the Committee hereunder. 

(c)    “Beneficiary” and “Beneficial Ownership” means the person, persons,
trust or trusts that have been designated by a Participant in his or her most recent written beneficiary designation filed with the Committee to receive the benefits specified under the Plan upon such Participant’s death or to which Awards or
other rights are transferred if and to the extent permitted under Section 10(b) hereof. If, upon a Participant’s death, there is no designated Beneficiary or surviving designated Beneficiary, then the term Beneficiary means the person,
persons, trust or trusts entitled by will or the laws of descent and distribution to receive such benefits. 

(d)    “Beneficial Owner” has the meaning ascribed to such term in Rule 13d-3 promulgated under the Exchange Act and any successor to such Rule. 

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

(f)    “Cause” with respect to any Participant, has the meaning specified in an employment or
other agreement with, for the performance of services to, the Company or a Related Entity. In the absence of any such agreement, “Cause” means (i) the failure by the Participant to perform, in a reasonable manner, his or her duties as
assigned by the Company or a Related Entity, (ii) any violation or breach by the Participant of his or her employment, consulting or other similar agreement with the Company or a Related Entity, if any, (iii) any violation or breach by the
Participant of any non-competition, non-solicitation, non-disclosure and/or other similar agreement with the Company or a Related
Entity, (iv) any act by the Participant of dishonesty or bad faith with respect to the Company or a Related Entity, (v) use of alcohol, drugs or other similar substances in a manner that adversely affects the Participant’s work
performance, or (vi) the commission by the Participant of any act, misdemeanor, or crime reflecting unfavorably upon the Participant or the Company or any Related Entity. The good faith determination by the Committee of whether the
Participant’s Continuous Service was terminated by the Company for “Cause” shall be final and binding for all purposes hereunder. 

 (g)    “Change in Control” has the meaning set forth
in Section 9(b). 
 (h)    “Code” means the Internal Revenue Code of 1986, as amended from
time to time, including regulations thereunder and successor provisions and regulations thereto. 

(i)    “Committee” means a committee designated by the Board to administer the Plan; provided,
however, that if the Board fails to designate a committee or if there are no longer any members on the committee so designated by the Board, then the Board shall serve as the Committee. The Committee shall consist of at least two directors, and each
member of the Committee shall be (i) a “non-employee director” within the meaning of Rule 16b-3 (or any successor rule) promulgated under the Exchange
Act, unless administration of the Plan by “non-employee directors” is not then required in order for exemptions under Rule 16b-3 to apply to transactions under
the Plan, (ii) an “outside director” that meets any applicable requirements of the Code, and (iii) Independent. 

(j)    “Common Stock” means the common stock, par value $0.001 per share, of the Company. 

(k)    “Consultant” means any person (other than an Employee or a Director) who is engaged by the
Company or any Related Entity to render consulting or advisory services to the Company or such Related Entity. 

(l)    “Continuous Service” means the uninterrupted provision of services to the Company or any
Related Entity in any capacity of Employee, Director, Consultant or other service provider. Continuous Service shall not be considered to be interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company,
any Related Entities, or any successor entities, in any capacity of Employee, Director, Consultant or other service provider, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Entity in
any capacity of Employee, Director, Consultant or other service provider (except as otherwise provided in the Award Agreement). An approved leave of absence shall include sick leave, military leave, or any other authorized personal leave. 

(m)    “Deferred Stock” means a right to receive Shares, including Restricted Stock, cash measured
based upon the value of Shares or a combination thereof, at the end of a specified deferral period. 

(n)    “Deferred Stock Award” means an Award of Deferred Stock granted to a Participant under
Section 6(e) hereof. 
 (o)    “Director” means a member of the Board or the board of
directors of any Related Entity. 

  
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 (p)    “Disability” means a permanent and total
disability (within the meaning of Section 22(e) of the Code), as determined by a medical doctor satisfactory to the Committee. 

(q)    “Dividend Equivalent” means a right, granted to a Participant under
Section 6(g) hereof, to receive cash, Shares or other Awards equal in value to dividends paid with respect to a specified number of Shares. 

(r)    “Effective Date” means May 7, 2015, which is the Shareholder Approval Date. 

(s)    “Eligible Person” means each officer, Director, Employee, Consultant and other person who
provides services to the Company or any Related Entity. The foregoing notwithstanding, only employees of the Company, or any parent corporation or subsidiary corporation of the Company (as those terms are defined in Sections 424(e) and (f) of
the Code, respectively), shall be Eligible Persons for purposes of receiving any Incentive Stock Options. An Employee on leave of absence may be considered as still in the employ of the Company or a Related Entity for purposes of eligibility for
participation in the Plan. 
 (t)    “Employee” means any person, including an officer or
Director, who is an employee of the Company or any Related Entity. 
 (u)    “Exchange Act”
means the Securities Exchange Act of 1934, as amended from time to time, including rules promulgated thereunder and successor provisions and rules thereto. 

(v)    “Fair Market Value” means, as of any given date shall be the closing sale price per share
of the Common Stock reported on a consolidated basis on the principal stock exchange or market on which the Common Stock is traded on the date as of which such value is being determined or, if there is no sale on that date, then on the last previous
day on which a sale was reported. If the Common Stock is not so listed on an exchange or market, Fair Market Value will be determined by the Committee, or under procedures established by the Committee. 

(w)    “Good Reason” has the meaning of “good reason” or “for good reason” as
set forth in any employment, consulting or other agreement for the performance of services between the Participant and the Company or a Related Entity or, in the absence of any such agreement or any such definition in such agreement, such term shall
mean (i) the assignment to the Participant of any duties which are materially inconsistent with the Participant’s duties or responsibilities as assigned by the Company or a Related Entity, or any other action by the Company or a Related
Entity which results in a material diminution in such duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company or a Related Entity promptly
after receipt of notice thereof given by the Participant or (ii) any material failure by the Company or a Related Entity to comply with its obligations to the Participant as agreed upon, other than an isolated, insubstantial and inadvertent
failure not occurring in bad faith and which is remedied by the Company or a Related Entity promptly after receipt of notice thereof given by the Participant; or (iii) the Company’s or Related Entity’s requiring the Participant to be
based at any office or location outside of fifty miles from the location of employment or service as of the date of Award, except for travel reasonably required in the performance of the Participant’s responsibilities. 

  
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 (x)    “Incentive Stock Option” means any Option
intended to be designated as an incentive stock option within the meaning of Section 422 of the Code or any successor provision thereto. 

(y)    “Independent”, when referring to either the Board or members of the Committee, shall have
the same meaning as used in the rules of NYSE American or any national securities exchange on which any securities of the Company are listed for trading, and if not listed for trading, by the rules of NYSE American. 

(z)    “Incumbent Board” means the Incumbent Board as defined in Section 9(b)(ii) of the
Plan. 
 (aa)    “Option” means a right granted to a Participant under Section 6(b) hereof,
to purchase Shares at a specified price during specified time periods. 
 (bb)    “Optionee”
means a person to whom an Option is granted under this Plan or any person who succeeds to the rights of such person under this Plan. 

(cc)    “Other Stock-Based Awards” means Awards granted to a Participant under Section 6(i)
hereof. 
 (dd)    “Participant” means a person who has been granted an Award under the Plan
which remains outstanding, including a person who is no longer an Eligible Person. 
 (ee)    “Performance
Award” shall mean any Award of Performance Shares or Performance Units granted pursuant to Section 6(h). 

(ff)    “Performance Period” means that period established by the Committee at the time any
Performance Award is granted or at any time thereafter during which any performance goals specified by the Committee with respect to such Award are to be measured. 

(gg)    “Performance Share” means any grant pursuant to Section 6(h) of a unit valued by
reference to a designated number of Shares, which value may be paid to the Participant by delivery of such property as the Committee shall determine, including cash, Shares, other property, or any combination thereof, upon achievement of such
performance goals during the Performance Period as the Committee shall establish at the time of such grant or thereafter. 

(hh)    “Performance Unit” means any grant pursuant to Section 6(h) of a unit valued by
reference to a designated amount of property (including cash) other than Shares, which value may be paid to the Participant by delivery of such property as the Committee shall determine, including cash, Shares, other property, or any combination
thereof, upon achievement of such performance goals during the Performance Period as the Committee shall establish at the time of such grant or thereafter. 

  
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 (ii)    “Person” has the meaning ascribed to such
term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, and includes a “group” as defined in Section 13(d) thereof. 

(jj)    “Related Entity” means any Subsidiary, and any business, corporation, partnership, limited
liability company or other entity designated by the Board, in which the Company or a Subsidiary holds a substantial ownership interest, directly or indirectly. 

(kk)    “Repriced” means (i) any transaction performed with the intent or effect of
(A) reducing the exercise price of any outstanding Option, (B) cancelling or exchanging outstanding Options in exchange for cash, other Awards or replacement Options, including through a tender offer process, with exercise prices that are
less than the exercise price of the cancelled or exchanged Options, or (C) any similar share exchange transaction involving outstanding Awards; or (ii) any transaction defined as repricing under the NYSE American rules for listed
companies. 
 (ll)    “Restricted Stock” means any Share issued with the restriction that the
holder may not sell, transfer, pledge or assign such Share and with such risks of forfeiture and other restrictions as the Committee, in its sole discretion, may impose (including any restriction on the right to vote such Share and the right to
receive any dividends), which restrictions may lapse separately or in combination at such time or times, in installments or otherwise, as the Committee may deem appropriate. 

(mm)    “Restricted Stock Award” means an Award granted to a Participant under Section 6(d)
hereof. 
 (nn)    “Rule 16b-3” means Rule 16b-3, as from time to time in effect and applicable to the Plan and Participants, promulgated by the Securities and Exchange Commission under Section 16 of the Exchange Act. 

(oo)    “Shareholder Approval Date” means May 7, 2015, the date of the Company’s 2015
Annual Meeting on which this Plan was approved by stockholders of the Company eligible to vote in the election of directors, by a vote sufficient to meet the requirements of Code Sections 162(m) (if applicable) and 422, Rule 16b-3 under the Exchange Act (if applicable), applicable requirements under the rules of any stock exchange or automated quotation system on which the Shares may be listed or quoted, and other laws, regulations and
obligations of the Company applicable to the Plan. 
 (pp)    “Shares” means the shares of
Common Stock, and such other securities as may be substituted (or resubstituted) for Shares pursuant to Section 10(c) hereof. 

(qq)    “Stock Appreciation Right” means a right granted to a Participant under Section 6(c)
hereof. 
 (rr)    “Subsidiary” means any corporation or other entity in which the Company has a
direct or indirect ownership interest of 50% or more of the total combined voting power of the then outstanding securities or interests of such corporation or other entity entitled to vote generally in the election of directors or in which the
Company has the right to receive 50% or more of the distribution of profits or 50% or more of the assets on liquidation or dissolution. 

  
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 (ss)    “Substitute Awards” means Awards granted or
Shares issued by the Company in assumption of, or in substitution or exchange for, Awards previously granted, or the right or obligation to make future Awards, by a company acquired by the Company or any Related Entity or with which the Company or
any Related Entity combines. 
 3.    Administration. 

(a)    Authority of the Committee. The Plan shall be administered by the Committee, except to the extent the
Board elects to administer the Plan, in which case the Plan shall be administered by only those directors who are Independent Directors, in which case references herein to the “Committee” shall be deemed to include references to the
Independent members of the Board. The Committee shall have full and final authority, subject to and consistent with the provisions of the Plan, to select Eligible Persons to become Participants, grant Awards, determine the type, number and other
terms and conditions of, and all other matters relating to, Awards, prescribe Award Agreements (which need not be identical for each Participant) and rules and regulations for the administration of the Plan, construe and interpret the Plan and Award
Agreements and correct defects, supply omissions or reconcile inconsistencies therein, and to make all other decisions and determinations as the Committee may deem necessary or advisable for the administration of the Plan. In exercising any
discretion granted to the Committee under the Plan or pursuant to any Award, the Committee shall not be required to follow past practices, act in a manner consistent with past practices, or treat any Eligible Person or Participant in a manner
consistent with the treatment of other Eligible Persons or Participants. 
 (b)    Manner of Exercise of Committee
Authority. The Committee, and not the Board, shall exercise sole and exclusive discretion on any matter relating to a Participant then subject to Section 16 of the Exchange Act with respect to the Company to the extent necessary in
order that transactions by such Participant shall be exempt under Rule 16b-3 under the Exchange Act. Any action of the Committee shall be final, conclusive and binding on all persons, including the Company,
its Related Entities, Eligible Persons, Participants, Beneficiaries, transferees under Section 10(b) hereof or other persons claiming rights from or through a Participant, and shareholders. The express grant of any specific power to the
Committee, and the taking of any action by the Committee, shall not be construed as limiting any power or authority of the Committee. The Committee may delegate to officers or managers of the Company or any Related Entity, or committees thereof, the
authority, subject to such terms as the Committee shall determine, to perform such functions, including administrative functions as the Committee may determine to the extent that such delegation will not result in the loss of an exemption under Rule
16b-3(d)(1) for Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Company. The Committee may appoint agents to assist it in administering the Plan. 

  
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 (c)    Limitation of Liability. The Committee and the Board,
and each member thereof, shall be entitled to, in good faith, rely or act upon any report or other information furnished to him or her by any officer or Employee, the Company’s independent auditors, Consultants or any other agents assisting in
the administration of the Plan. Members of the Committee and the Board, and any officer or Employee acting at the direction or on behalf of the Committee or the Board, shall not be personally liable for any action or determination taken or made in
good faith with respect to the Plan, and shall, to the extent permitted by law, be fully indemnified and protected by the Company with respect to any such action or determination. 

4.    Shares Subject to Plan. 

(a)    Limitation on Overall Number of Shares Available for Delivery Under Plan. Subject to adjustment as
provided in Section 10(c) hereof, the total number of Shares reserved and available for delivery under the Plan shall be 40,940,000. Any Shares that are subject to Awards shall be counted against this limit as one (1) Share for every one
(1) Share granted. Any Shares delivered under the Plan may consist, in whole or in part, of authorized and unissued shares or treasury shares. 

(b)    Application of Limitation to Grants of Award. No Award may be granted if the number of Shares to be
delivered in connection with such an Award or, in the case of an Award relating to Shares but settled only in cash (such as cash-only Stock Appreciation Rights), the number of Shares to which such Award relates, exceeds the number of Shares
remaining available for delivery under the Plan, minus the number of Shares deliverable in settlement of or relating to then outstanding Awards. The Committee may adopt reasonable counting procedures to ensure appropriate counting, avoid double
counting (as, for example, in the case of tandem or substitute awards) and make adjustments if the number of Shares actually delivered differs from the number of Shares previously counted in connection with an Award. 

(c)    Availability of Shares Not Delivered under Awards and Adjustments to Limits. 

(i)    If any Shares subject to an Award are forfeited, expire or otherwise terminate without issuance of such Shares, or
any Award is settled for cash or otherwise does not result in the issuance of all or a portion of the Shares subject to such Award, the Shares shall, to the extent of such forfeiture, expiration, termination, cash settlement or non-issuance, again be available for Awards under the Plan, subject to Section 4(c)(v). 

(ii)    In the event that any Option or other Award granted hereunder is exercised through the tendering of Shares
(either actually or by attestation) or by the withholding of Shares by the Company, or withholding tax liabilities arising from such option or other award are satisfied by the tendering of Shares (either actually or by attestation) or by the
withholding of Shares by the Company, then only the number of Shares issued net of the Shares tendered or withheld shall be counted for purposes of determining the maximum number of Shares available for grant under the Plan. 

(iii)    Substitute Awards shall not reduce the Shares authorized for grant under the Plan or authorized for grant to a
Participant in any period. Additionally, in the event that a company acquired by the Company or any Related Entity or with which the Company or any Related Entity combines has shares available under a
pre-existing plan approved by shareholders and not adopted in contemplation of such acquisition or combination, the shares available for delivery 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 delivery 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
Employees or Directors prior to such acquisition or combination. 

  
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 (iv)    Any Share that again becomes available for delivery pursuant to this
Section 4(c) shall be added back as one (1) Share under the Plan. 
 (v)    Notwithstanding anything in this
Section 4(c) to the contrary but subject to adjustment as provided in Section 10(c) hereof, the maximum aggregate number of Shares that may be issued under the Plan as a result of the exercise of the Incentive Stock Options shall be
40,940,000 shares. 
 5.    Eligibility; Per-Person Award Limitations. Awards
may be granted under the Plan only to Eligible Persons. In any fiscal year of the Company during any part of which the Plan is in effect, no Participant may be granted (i) Options or Stock Appreciation Rights with respect to more than 1,000,000
Shares or (ii) Restricted Stock, Deferred Stock, Performance Shares and/or Other Stock-Based Awards with respect to more than 2,000,000 Shares, subject to adjustment as provided in Section 10(c) (the “Adjustment”),
provided, however, that the Adjustment will be limited to not less than 1,000,000 Shares for Options or Stock Appreciation Rights and not less than 2,000,000 for Restricted Stock, Deferred Stock, Performance Shares and/or Other Stock-Based Awards.

 6.    Specific Terms of Awards. 

(a)    General. Awards may be granted on the terms and conditions set forth in this Section 6. In
addition, the Committee may impose on any Award or the exercise thereof, at the date of grant or thereafter (subject to Section 10(e)), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee
shall determine, including terms requiring forfeiture of Awards in the event of termination of the Participant’s Continuous Service and terms permitting a Participant to make elections relating to his or her Award. The Committee shall retain
full power and discretion to accelerate, waive or modify, at any time, any term or condition of an Award that is not mandatory under the Plan. Except in cases in which the Committee is authorized to require other forms of consideration under the
Plan, or to the extent other forms of consideration must be paid to satisfy the requirements of Delaware law, no consideration other than services may be required for the grant (as opposed to the exercise) of any Award. 

  
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 (b)    Options. The Committee is authorized to grant Options to
any Eligible Person on the following terms and conditions: 
 (i)    Exercise Price. Other than in
connection with Substitute Awards, the exercise price per Share purchasable under an Option shall not be less than 100% of the Fair Market Value of a Share on the date of grant of the Option and shall not, in any event, be less than the par value of
a Share on the date of grant of the Option. If an Employee owns or is deemed to own (by reason of the attribution rules applicable under Section 424(d) of the Code) more than 10% of the combined voting power of all classes of stock of the
Company (or any parent corporation or subsidiary corporation of the Company, as those terms are defined in Sections 424(e) and (f) of the Code, respectively) and an Incentive Stock Option is granted to such employee, the exercise price of such
Incentive Stock Option (to the extent required by the Code at the time of grant) shall be no less than 110% of the Fair Market Value of a Share on the date such Incentive Stock Option is granted. 

(ii)    Time and Method of Exercise. The Committee shall determine the time or times at which or the
circumstances under which an Option may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the time or times at which Options shall cease to be or become exercisable following
termination of Continuous Service or upon other conditions, the methods by which the exercise price may be paid or deemed to be paid (including in the discretion of the Committee a cashless exercise procedure), the form of such payment, including,
without limitation, cash, Shares (including without limitation the withholding of Shares otherwise deliverable pursuant to the Award), other Awards or awards granted under other plans of the Company or a Related Entity, and the methods by or forms
in which Shares will be delivered or deemed to be delivered to Participants. 
 (iii)    Incentive Stock
Options. The terms of any Incentive Stock Option granted under the Plan shall comply in all respects with the provisions of Section 422 of the Code. Anything in the Plan to the contrary notwithstanding, no term of the Plan relating to
Incentive Stock Options (including any Stock Appreciation Right issued in tandem therewith) shall be interpreted, amended or altered, nor shall any discretion or authority granted under the Plan be exercised, so as to disqualify either the Plan or
any Incentive Stock Option under Section 422 of the Code, unless the Participant has first requested, or consents to, the change that will result in such disqualification. Thus, if and to the extent required to comply with Section 422 of
the Code, Options granted as Incentive Stock Options shall be subject to the following special terms and conditions: 

(A)    the Option shall not be exercisable for more than ten years after the date such Incentive Stock Option is granted;
provided, however, that if a Participant owns or is deemed to own (by reason of the attribution rules of Section 424(d) of the Code) more than 10% of the combined voting power of all classes of stock of the Company (or any parent corporation or
subsidiary corporation of the Company, as those terms are defined in Sections 424(e) and (f) of the Code, respectively) and the Incentive Stock Option is granted to such Participant, the term of the Incentive Stock Option shall be (to the
extent required by the Code at the time of the grant) for no more than five years from the date of grant; and 

  
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 (B)    The aggregate Fair Market Value (determined as of the date the
Incentive Stock Option is granted) of the Shares with respect to which Incentive Stock Options granted under the Plan and all other option plans of the Company (and any parent corporation or subsidiary corporation of the Company, as those terms are
defined in Sections 424(e) and (f) of the Code, respectively) that become exercisable for the first time by the Participant during any calendar year shall not (to the extent required by the Code at the time of the grant) exceed $100,000. 

(iv)    No Option Repricings. Other than in connection with a change in the Company’s capitalization
(as described in Section 10(c)), the exercise price of an Option may not be Repriced without stockholder approval. 

(c)    Stock Appreciation Rights. The Committee may grant Stock Appreciation Rights to any Eligible Person
in conjunction with all or part of any Option granted under the Plan or at any subsequent time during the term of such Option (a “Tandem Stock Appreciation Right”), or without regard to any Option (a “Freestanding
Stock Appreciation Right”), in each case upon such terms and conditions as the Committee may establish in its sole discretion, not inconsistent with the provisions of the Plan, including the following: 

(i)    Right to Payment. A Stock Appreciation Right shall confer on the Participant to whom it is granted a
right to receive, upon exercise thereof, the excess of (A) the Fair Market Value of one Share on the date of exercise over (B) the grant price of the Stock Appreciation Right as determined by the Committee. The grant price of a Stock
Appreciation Right shall not be less than 100% of the Fair Market Value of a Share on the date of grant, in the case of a Freestanding Stock Appreciation Right, or less than the associated Option exercise price, in the case of a Tandem Stock
Appreciation Right. 
 (ii)    Other Terms. The Committee shall determine at the date of grant or
thereafter, the time or times at which and the circumstances under which a Stock Appreciation Right may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the time or times at
which Stock Appreciation Rights shall cease to be or become exercisable following termination of Continuous Service or upon other conditions, the method of exercise, method of settlement, form of consideration payable in settlement, method by or
forms in which Shares will be delivered or deemed to be delivered to Participants, whether or not a Stock Appreciation Right shall be in tandem or in combination with any other Award, and any other terms and conditions of any Stock Appreciation
Right. 
 (iii)    Tandem Stock Appreciation Rights. Any Tandem Stock Appreciation Right may be granted
at the same time as the related Option is granted or, for Options that are not Incentive Stock Options, at any time thereafter before exercise or expiration of such Option. Any Tandem Stock Appreciation Right related to an Option may be exercised
only when the related Option would be exercisable and the Fair Market Value of the Shares subject to the related Option exceeds the exercise price at which Shares can be acquired pursuant to the Option. In addition, if a Tandem Stock Appreciation
Right exists with respect to less than the full number of Shares covered by a related Option, then an exercise or termination of such Option shall not reduce the number of Shares to which the Tandem Stock Appreciation Right applies until the number
of Shares then exercisable under such Option equals the number of 

  
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Shares to which the Tandem Stock Appreciation Right applies. Any Option related to a Tandem Stock Appreciation Right shall no longer be exercisable to the extent the Tandem Stock Appreciation
Right has been exercised, and any Tandem Stock Appreciation Right shall no longer be exercisable to the extent the related Option has been exercised. 

(d)    Restricted Stock Awards. The Committee is authorized to grant Restricted Stock Awards to any Eligible
Person on the following terms and conditions: 
 (i)    Grant and Restrictions. Restricted Stock Awards
shall be subject to such restrictions on transferability, risk of forfeiture and other restrictions, if any, as the Committee may impose, or as otherwise provided in this Plan, covering a period of time specified by the Committee (the
“Restriction Period”). The terms of any Restricted Stock Award granted under the Plan shall be set forth in a written Award Agreement which shall contain provisions determined by the Committee and not inconsistent with the
Plan. The restrictions may lapse separately or in combination at such times, under such circumstances (including based on achievement of performance goals and/or future service requirements), in such installments or otherwise, as the Committee may
determine at the date of grant or thereafter. Except to the extent restricted under the terms of the Plan and any Award Agreement relating to a Restricted Stock Award, a Participant granted Restricted Stock shall have all of the rights of a
stockholder, including the right to vote the Restricted Stock and the right to receive dividends thereon (subject to any mandatory reinvestment or other requirement imposed by the Committee). During the Restriction Period, subject to
Section 10(b) below, the Restricted Stock may not be sold, transferred, pledged, hypothecated, margined or otherwise encumbered by the Participant. 

(ii)    Forfeiture. Except as otherwise determined by the Committee, upon termination of a
Participant’s Continuous Service during the applicable Restriction Period, the Participant’s Restricted Stock that is at that time subject to a risk of forfeiture that has not lapsed or otherwise been satisfied shall be forfeited and
reacquired by the Company; provided that the Committee may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that forfeiture conditions relating to Restricted Stock Awards shall be waived in whole or
in part in the event of terminations resulting from specified causes. 
 (iii)    Certificates for Stock.
Restricted Stock granted under the Plan may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Stock are registered in the name of the Participant, the Committee may require that such certificates
bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock, that the Company retain physical possession of the certificates, and that the Participant deliver a stock power to the Company,
endorsed in blank, relating to the Restricted Stock. 
 (iv)    Dividends and Splits. As a condition to
the grant of a Restricted Stock Award, the Committee may require or permit a Participant to elect that any cash dividends paid on a Share of Restricted Stock be automatically reinvested in additional Shares of Restricted Stock or applied to the
purchase of additional Awards under the Plan. Unless otherwise determined by the Committee, Shares distributed in connection with a stock split or stock dividend, and other property distributed as a dividend, shall be subject to restrictions and a
risk of forfeiture to the same extent as the Restricted Stock with respect to which such Shares or other property have been distributed. 

  
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 (e)    Deferred Stock Award. The Committee is authorized to
grant Deferred Stock Awards to any Eligible Person on the following terms and conditions: 
 (i)    Award and
Restrictions. Satisfaction of a Deferred Stock Award shall occur upon expiration of the deferral period specified for such Deferred Stock Award by the Committee (or, if permitted by the Committee, as elected by the Participant). In addition,
a Deferred Stock Award shall be subject to such restrictions (which may include a risk of forfeiture) as the Committee may impose, if any, which restrictions may lapse at the expiration of the deferral period or at earlier specified times (including
based on achievement of performance goals and/or future service requirements), separately or in combination, in installments or otherwise, as the Committee may determine. A Deferred Stock Award may be satisfied by delivery of Shares, cash equal to
the Fair Market Value of the specified number of Shares covered by the Deferred Stock, or a combination thereof, as determined by the Committee at the date of grant or thereafter. Prior to satisfaction of a Deferred Stock Award, a Deferred Stock
Award carries no voting or dividend or other rights associated with Share ownership. 

(ii)    Forfeiture. Except as otherwise determined by the Committee, upon termination of a
Participant’s Continuous Service during the applicable deferral period or portion thereof to which forfeiture conditions apply (as provided in the Award Agreement evidencing the Deferred Stock Award), the Participant’s Deferred Stock Award
that is at that time subject to a risk of forfeiture that has not lapsed or otherwise been satisfied shall be forfeited; provided that the Committee may provide, by rule or regulation or in any Award Agreement, or may determine in any individual
case, that forfeiture conditions relating to a Deferred Stock Award shall be waived in whole or in part in the event of terminations resulting from specified causes, and the Committee may in other cases waive in whole or in part the forfeiture of
any Deferred Stock Award. 
 (iii)    Dividend Equivalents. Unless otherwise determined by the Committee
at date of grant, any Dividend Equivalents that are granted with respect to any Deferred Stock Award shall be either (A) paid with respect to such Deferred Stock Award at the dividend payment date in cash or in Shares of unrestricted stock
having a Fair Market Value equal to the amount of such dividends, or (B) deferred with respect to such Deferred Stock Award and the amount or value thereof automatically deemed reinvested in additional Deferred Stock, other Awards or other
investment vehicles, as the Committee shall determine or permit the Participant to elect. 
 (f)    Bonus Stock
and Awards in Lieu of Obligations. The Committee is authorized to grant Shares to any Eligible Persons as a bonus, or to grant Shares or other Awards in lieu of obligations to pay cash under the Plan or under other plans or compensatory
arrangements, provided that, in the case of Eligible Persons subject to Section 16 of the Exchange Act, the amount of such grants remains within the discretion of the Committee to the extent necessary to ensure that acquisition of Shares or
other Awards are exempt from liability under Section 16(b) of the Exchange Act. Shares or Awards granted hereunder shall be subject to such other terms as shall be determined by the Committee. 

  
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 (g)    Dividend Equivalents. The Committee is authorized to
grant Dividend Equivalents to any Eligible Person entitling the Eligible Person to receive cash, Shares or other Awards equal in value to the regular dividends paid with respect to a specified number of Shares. Dividend Equivalents may be awarded on
a free-standing basis or in connection with another Award. The Committee may provide that Dividend Equivalents shall be paid or distributed when accrued or shall be deemed to have been reinvested in additional Shares or other investment vehicles,
and subject to such restrictions on transferability and risks of forfeiture, as the Committee may specify. 

(h)    Performance Awards. The Committee is authorized to grant Performance Awards to any Eligible Person
payable in cash, Shares, other Awards or a combination, on terms and conditions established by the Committee, subject to the provisions of Section 8 if and to the extent that the Committee shall, in its sole discretion, determine that an Award
shall be subject to those provisions. The performance criteria to be achieved during any Performance Period and the length of the Performance Period shall be determined by the Committee upon the grant of each Performance Award. Except as provided in
Section 9 or as may be provided in an Award Agreement, Performance Awards will be distributed only after the end of the relevant Performance Period. The performance goals to be achieved for each Performance Period shall be conclusively
determined by the Committee and may be based upon the criteria set forth in Section 8(b), or in the case of an Award that the Committee determines shall not be subject to Section 8 hereof, any other criteria that the Committee, in its sole
discretion, shall determine should be used for that purpose. The amount of the Award to be distributed shall be conclusively determined by the Committee. Performance Awards may be paid in a lump sum or in installments following the close of the
Performance Period or, in accordance with procedures established by the Committee, on a deferred basis. 

(i)    Other Stock-Based Awards. The Committee is authorized, subject to limitations under applicable law,
to grant to any Eligible Person such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares, as deemed by the Committee to be consistent with the purposes of the
Plan. Other Stock-Based Awards may be granted to Participants either alone or in addition to other Awards granted under the Plan, and such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards
granted under the Plan. The Committee shall determine the terms and conditions of such Awards. 
 7.    Certain
Provisions Applicable to Awards. 
 (a)    Stand-Alone, Additional, Tandem, and Substitute Awards. Awards
granted under the Plan may, in the discretion of the Committee, be granted either alone or in addition to or in tandem with, or in substitution for, any other Award or any award granted under another plan of the Company, any Related Entity, or any
business entity to be acquired by the Company or a Related Entity, or any other right of a Participant to receive payment from the Company or any Related Entity, provided, however, no such substitution shall cause an Award to be Repriced. Such
additional, tandem, and substitute Awards may be granted at any time. If an Award is granted in substitution for another Award or award, the Committee shall require the surrender of such other Award or award in consideration for the grant of the new
Award. In addition, Awards may be granted in lieu of cash compensation, including in lieu of cash amounts payable under other plans of the Company or any Related Entity, in which the value of Shares subject to the Award is equivalent in value to the
cash compensation (for example, Deferred Stock or Restricted Stock), or in which the exercise price, grant price or purchase price of the Award in the nature of a right that may be exercised is equal to the Fair Market Value of the underlying Shares
minus the value of the cash compensation surrendered (for example, Options or Stock Appreciation Right granted with an exercise price or grant price “discounted” by the amount of the cash compensation surrendered). 

  
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 (b)    Term of Awards and Vesting Schedule. The term of each
Award shall be for such period as may be determined by the Committee; provided that in no event shall the term of any Option or Stock Appreciation Right exceed a period of ten years (or in the case of an Incentive Stock Option such shorter term as
may be required under Section 422 of the Code). Unless otherwise provided by the Committee in an Award Agreement, the vesting schedule or forfeiture period for Awards shall be at least one (1) year from the date of grant. 

(c)    Form and Timing of Payment Under Awards. Subject to the terms of the Plan and any applicable Award
Agreement, payments to be made by the Company or a Related Entity upon the exercise of an Option or other Award or settlement of an Award may be made in such forms as the Committee shall determine, including, without limitation, cash, Shares or
other Awards. 
 (d)    Exemptions from Section 16(b) Liability. It is
the intent of the Company that the grant of any Awards to or other transaction by a Participant who is subject to Section 16 of the Exchange Act shall be exempt from Section 16 pursuant to an applicable exemption (except for transactions
acknowledged in writing to be non-exempt by such Participant). Accordingly, if any provision of this Plan or any Award Agreement does not comply with the requirements of Rule
16b-3 then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule
16b-3 so that such Participant shall avoid liability under Section 16(b). 

(e)    Code Section 409A. Shares shall not be issued pursuant to the
exercise of an Award unless the issuance and delivery of such Shares shall comply with applicable laws and shall be further subject to the approval of counsel for the Company with respect to such compliance. Without limiting the foregoing, the Plan
is intended to comply with Section 409A of the Code to the extent subject thereto, and, accordingly, to the maximum extent permitted, the Committee shall make a good faith effort to interpret and administer the Plan in compliance therewith. Any
payments described in the Plan that are due within the “short-term deferral period” as defined in Section 409A of the Code shall not be treated as deferred compensation unless applicable laws require otherwise. For purposes of
Section 409A of the Code, each installment payment provided under this Plan shall be treated as a separate payment. Notwithstanding anything to the contrary in the Plan, to the extent required to avoid accelerated taxation and tax penalties
under Section 409A of the Code, (a) amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six (6) month period immediately following the Participant’s termination of
Continuous Service shall instead be paid on the first payroll date after the six-month anniversary of the Participant’s separation from service (or the Participant’s death, if earlier), and
(b) amounts payable upon the termination of a Participant’s Continuous Service shall only be payable if such termination constitutes a “separation from service” within the meaning of Section 409A of the Code. Notwithstanding
the foregoing, neither the Company, any Related Entity nor the Committee shall have any obligation to take any action to prevent the assessment of any excise tax or penalty on any Participant under Section 409A of the Code and neither the
Company nor the Committee will have any liability to any Participant for such tax or penalty. 

  
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 (e)    Clawbacks. The Company shall have the right to recoup or
“claw back” any payment made with respect to an Award under the Plan to the extent necessary to comply with applicable federal securities laws. 

8.    Performance Awards. 

(a)    Section 16 Employees. The Committee, in its discretion, shall follow the process set forth in this
Section 8 for Performance Awards made to Employees subject to Section 16 of the Exchange Act. 

(b)    Performance Criteria. If an Award is subject to this Section 8, then the lapsing of restrictions
thereon and the distribution of cash or Shares pursuant thereto, as applicable, shall be contingent upon achievement of one or more objective performance goals. Performance goals shall be objective financial or operating goals or individually-based
subjective goals established for an Award by the Committee. One or more of the following business criteria for the Company, on a consolidated basis, and/or for Related Entities, or for business or geographical units of the Company and/or a Related
Entity (except with respect to the total shareholder return and earnings per share criteria), shall be considered to be objective financial or operating goals: (1) earnings per share; (2) revenues or margins; (3) cash flow;
(4) operating margin; (5) return on net assets, investment, capital, or equity; (6) economic value added; (7) direct contribution; (8) net income; pretax earnings; earnings before interest and taxes; earnings before
interest, taxes, depreciation and amortization; earnings after interest expense and before extraordinary or special items; operating income; income before interest income or expense, unusual items and income taxes, local, state or federal and
excluding budgeted and actual bonuses which might be paid under any ongoing bonus plans of the Company; (9) working capital; (10) management of fixed costs or variable costs; (11) identification or consummation of investment
opportunities or completion of specified projects in accordance with corporate business plans, including strategic mergers, acquisitions or divestitures; (12) total shareholder return; (13) debt reduction; (14) market share;
(15) entry into new markets, either geographically or by business unit; (16) customer retention and satisfaction; and (17) strategic plan development and implementation, including turnaround plans. Any of the above goals may be
determined on an absolute or relative basis or as compared to the performance of a published or special index deemed applicable by the Committee including, but not limited to, the Standard & Poor’s 500 Stock Index or a group of
companies that are comparable to the Company. The Committee shall exclude the impact of an event or occurrence which the Committee determines should appropriately be excluded, including without limitation (i) restructurings, discontinued
operations, extraordinary items, and other unusual or non-recurring charges, (ii) an event either not directly related to the operations of the Company or not within the reasonable control of the
Company’s management, or (iii) a change in accounting standards required by generally accepted accounting principles. 

  
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 (c)    Performance Period. Achievement of performance goals in
respect of Performance Awards shall be measured over a Performance Period as specified by the Committee. 
 9.    Change
in Control. 
 (a)    Effect of a Change in Control. Subject to Section 9(a)(iv), and if and only to
the extent provided in the Award Agreement, or to the extent otherwise determined by the Committee, upon the occurrence of a Change in Control, as defined in Section 9(b): 

(i)    Any Option or Stock Appreciation Right that was not previously vested and exercisable as of the time of the Change
in Control, shall become immediately vested and exercisable, subject to applicable restrictions set forth in Section 10(a) hereof. 

(ii)    Any restrictions, deferral of settlement, and forfeiture conditions applicable to a Restricted Stock Award,
Deferred Stock Award or an Other Stock-Based Award subject only to future service requirements granted under the Plan shall lapse and such Awards shall be deemed fully vested as of the time of the Change in Control, except to the extent of any
waiver by the Participant and subject to applicable restrictions set forth in Section 10(a) hereof. 

(iii)    With respect to any outstanding Award subject to achievement of performance goals and conditions under the Plan,
the Committee may, in its discretion, deem such performance goals and conditions as having been met as of the date of the Change in Control. 

(iv)    Notwithstanding the foregoing or any provision in any Award Agreement to the contrary, but subject to the
absolute discretion and approval of the Committee, if in the event of a Change in Control the successor company assumes or substitutes for an Option, Stock Appreciation Right, Restricted Stock Award, Deferred Stock Award or Other Stock-Based Award,
then each such outstanding Option, Stock Appreciation Right, Restricted Stock Award, Deferred Stock Award or Other Stock-Based Award shall not be accelerated as described in Sections 9(a)(i), (ii) and (iii). For the purposes of this
Section 9(a)(iv), an Option, Stock Appreciation Right, Restricted Stock Award, Deferred Stock Award or Other Stock-Based Award shall be considered assumed or substituted for if following the Change in Control the Award confers the right to
purchase or receive, for each Share subject to the Option, Stock Appreciation Right, Restricted Stock Award, Deferred Stock Award or Other Stock-Based Award immediately prior to the Change in Control, the consideration (whether stock, cash or other
securities or property) received in the transaction constituting a Change in Control by holders of Shares for each Share held on the effective date of such transaction (and if holders were offered a choice of consideration, the type of consideration
chosen by the holders of a majority of the outstanding shares); provided, however, that if such consideration received in the transaction constituting a Change in Control is not solely common stock of the successor company or its parent or
subsidiary, the Committee may, with the consent of the successor company or its parent or subsidiary, provide that the consideration to be received upon the exercise or vesting of an Option, Stock Appreciation Right, Restricted Stock Award, Deferred
Stock Award or Other Stock-Based Award, for each Share subject thereto, will be solely common stock of the successor company or its parent or subsidiary substantially equal in fair market value to the per share consideration received by holders of
Shares in the transaction constituting a Change in Control. The determination of such substantial equality of value of consideration shall be made by the Committee in its sole discretion and its determination shall be conclusive and binding. 

  
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 (b)    Definition of Change in Control. Unless otherwise
specified in an Award Agreement, a “Change in Control” means the occurrence of any of the following: 

(i)    The acquisition by any Person of Beneficial Ownership (within the meaning of Rule
13d-3 promulgated under the Exchange Act) of more than fifty percent (50%) of either (A) the then outstanding shares of common stock of the Company (the “Outstanding Company Common
Stock”) or (B) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”) (the
foregoing Beneficial Ownership hereinafter being referred to as a “Controlling Interest”); provided, however, that for purposes of this Section 9(b), the following acquisitions shall not constitute or result in a Change
in Control: (u) any acquisition directly from the Company; (v) any acquisition by the Company; (w) any acquisition by any Person that as of the Effective Date owns Beneficial Ownership of a Controlling Interest; (x) any
acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Related Entity; (y) any acquisition by Dr. Phillip Frost or by any Person controlled by Dr. Phillip Frost, including, but not
limited to, the Frost Gamma Investments Trust or (z) any acquisition by any entity pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection (iii) below; or 

(ii)    During any period of two (2) consecutive years (not including any period prior to the Effective Date)
individuals who constitute the Board on the Effective Date (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to
the Effective Date whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a
member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other
actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

(iii)    Consummation of a reorganization, merger, statutory share exchange or consolidation or similar transaction
involving the Company or any of its Related Entities, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or equity of another entity by the Company or any of its Related Entities (each
a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities who were the Beneficial Owners, respectively, of the Outstanding Company
Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than fifty percent (50%) of the value of the then outstanding equity securities and the combined
voting power of the then outstanding voting securities entitled to vote generally in the election of members of the board of directors (or comparable governing body of an entity that does not have such a board), as the case may be, of the entity
resulting from such Business Combination (including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries)
in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any
employee benefit plan (or related trust) of the Company or such entity resulting from such Business Combination or any Person that as of the Effective Date owns Beneficial Ownership of a Controlling Interest) beneficially owns, directly or
indirectly, fifty percent (50%) or more of the value of the then outstanding equity securities of the entity resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such entity except to the
extent that such ownership existed prior to the Business Combination and (C) at least a majority of the members of the Board of Directors or other governing body of the entity resulting from such Business Combination were members of the
Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

  
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 (iv)    Approval by the stockholders of the Company of a complete
liquidation or dissolution of the Company. 
 10.    General Provisions. 

(a)    Compliance With Legal and Other Requirements. The Company may, to the extent deemed necessary or
advisable by the Committee, postpone the issuance or delivery of Shares or payment of other benefits under any Award until completion of such registration or qualification of such Shares or other required action under any federal or state law, rule
or regulation, listing or other required action with respect to any stock exchange or automated quotation system upon which the Shares or other Company securities are listed or quoted, or compliance with any other obligation of the Company, as the
Committee, may consider appropriate, and may require any Participant to make such representations, furnish such information and comply with or be subject to such other conditions as it may consider appropriate in connection with the issuance or
delivery of Shares or payment of other benefits in compliance with applicable laws, rules, and regulations, listing requirements, or other obligations. 

(b)    Limits on Transferability; Beneficiaries. No Award or other right or interest granted under the Plan
shall be pledged, hypothecated or otherwise encumbered or subject to any lien, obligation or liability of such Participant to any party, or assigned or transferred by such Participant otherwise than by will or the laws of descent and distribution or
to a Beneficiary upon the death of a Participant, and such Awards or rights that may be exercisable shall be exercised during the lifetime of the Participant only by the Participant or his or her guardian or legal representative, except that Awards
and other rights (other than Incentive Stock Options and Stock Appreciation Rights in tandem therewith) may be transferred to one or more Beneficiaries or other transferees during the lifetime of the Participant, and may be exercised by such
transferees in accordance with the terms of such Award, but only if and to the extent such transfers are permitted by the Committee pursuant to the express terms of an Award Agreement (subject to any terms and conditions which the Committee may
impose thereon). A Beneficiary, transferee, or other person claiming any rights under the Plan from or through any Participant shall be subject to all terms and conditions of the Plan and any Award Agreement applicable to such Participant, except as
otherwise determined by the Committee, and to any additional terms and conditions deemed necessary or appropriate by the Committee. 

  
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 (c)    Adjustments. 

(i)    Adjustments to Awards. In the event that any extraordinary dividend or other distribution (whether
in the form of cash, Shares, or other property), recapitalization, forward or reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, share exchange, liquidation, dissolution
or other similar corporate transaction or event affects the Shares and/or such other securities of the Company or any other issuer such that a substitution, exchange, or adjustment is determined by the Committee to be appropriate, then the Committee
shall, in such manner as it may deem equitable, substitute, exchange or adjust any or all of (A) the number and kind of Shares which may be delivered in connection with Awards granted thereafter, (B) the number and kind of Shares by which
annual per-person Award limitations are measured under Section 5 hereof, (C) the number and kind of Shares subject to or deliverable in respect of outstanding Awards, (D) the exercise price,
grant price or purchase price relating to any Award and/or make provision for payment of cash or other property in respect of any outstanding Award, and (E) any other aspect of any Award that the Committee determines to be appropriate. 

(ii)    Adjustments in Case of Certain Transactions. In the event of any merger, consolidation or other
reorganization in which the Company does not survive, or in the event of any Change in Control, any outstanding Awards may be dealt with in accordance with any of the following approaches, as determined by the agreement effectuating the transaction
or, if and to the extent not so determined, as determined by the Committee: (A) the continuation of the outstanding Awards by the Company, if the Company is a surviving entity, (B) the assumption or substitution for, as those terms are
defined in Section 9(b)(iv) hereof, the outstanding Awards by the surviving entity or its parent or subsidiary, (C) full exercisability or vesting and accelerated expiration of the outstanding Awards, or (D) settlement of the value of
the outstanding Awards in cash or cash equivalents or other property followed by cancellation of such Awards (which value, in the case of Options or Stock Appreciation Rights, shall be measured by the amount, if any, by which the Fair Market Value
of a Share exceeds the exercise or grant price of the Option or Stock Appreciation Right as of the effective date of the transaction). The Committee shall give written notice of any proposed transaction referred to in this Section 10(c)(ii) a
reasonable period of time prior to the closing date for such transaction (which notice may be given either before or after the approval of such transaction), in order that Participants may have a reasonable period of time prior to the closing date
of such transaction within which to exercise any Awards that are then exercisable (including any Awards that may become exercisable upon the closing date of such transaction). A Participant may condition his exercise of any Awards upon the
consummation of the transaction. 
 (iii)    Other Adjustments. The Committee (and the Board if and only
to the extent such authority is not required to be exercised by the Committee to comply with relevant provisions of the Code) is authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards (including
Performance Awards, or performance goals relating thereto) in recognition of unusual or nonrecurring events (including, without limitation, acquisitions and dispositions of businesses and assets) affecting the Company, any Related Entity or any
business unit, or the financial statements of the Company or any Related Entity, or in response to changes in applicable laws, regulations, accounting principles, tax rates and regulations or business conditions or in view of the Committee’s
assessment of the business strategy of the Company, any Related Entity or business unit thereof, performance of comparable organizations, economic and business conditions, personal performance of a Participant, and any other circumstances deemed
relevant. 

  
 20 

 (d)    Taxes. The Company and any Related Entity are authorized
to withhold from any Award granted, any payment relating to an Award under the Plan, including from a distribution of Shares, or any payroll or other payment to a Participant, amounts of withholding and other taxes due or potentially payable in
connection with any transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company or any Related Entity and Participants to satisfy obligations for the payment of withholding taxes and other
tax obligations relating to any Award. This authority shall include authority to withhold or receive Shares and to make cash payments in respect thereof in satisfaction of a Participant’s tax obligations, either on a mandatory or elective basis
in the discretion of the Committee, subject to compliance with applicable law. 
 (e)    Amendment and Termination
of the Plan or Awards. The Board or the Committee may amend, alter, suspend, discontinue or terminate the Plan, or the Committee’s authority to grant Awards under the Plan, or any Award Agreement, without the consent of stockholders or
Participants, except that any such amendment shall be subject to approval of the stockholders of the Company in the manner and to the extent required by applicable law (including applicable stock exchange requirements). In addition, without limiting
the foregoing, unless approved by the stockholders of the Company, no such amendment shall be made that would: 

(i)    materially increase the maximum number of Shares for which Awards may be granted under the Plan,
other than an increase pursuant to Section 10(c); 
 (ii)    reduce the minimum exercise price for
Options granted under the Plan; 
 (iii)    Reprice any outstanding Awards, other than in connection
with a change in the Company’s capitalization (as described in Section 10(c)); or 

(iv)    change the class of persons eligible to receive Awards under the Plan. 

Notwithstanding the foregoing, without the consent of an affected Participant, no such Board or Committee action may materially and adversely
affect the rights of such Participant under any previously granted and outstanding Award. No amendment, suspension or termination of the Plan shall impair the rights of any Participant under an outstanding Award, unless agreed to in a writing signed
by the Participant and the Company. The Committee may waive any conditions or rights under, or amend, alter, suspend, discontinue or terminate any Award theretofore granted and any Award Agreement relating thereto, except as otherwise provided in
the Plan; provided that, without the consent of an affected Participant, no such Committee or the Board action may materially and adversely affect the rights of such Participant under such Award. 

  
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 (f)    Limitation on Rights Conferred Under Plan. Neither the
Plan nor any action taken hereunder or under any Award shall be construed as (i) giving any Eligible Person or Participant the right to continue as an Eligible Person or Participant or in the employ or service of the Company or a Related
Entity; (ii) interfering in any way with the right of the Company or a Related Entity to terminate any Eligible Person’s or Participant’s Continuous Service at any time, (iii) giving an Eligible Person or Participant any claim to
be granted any Award under the Plan or to be treated uniformly with other Participants and Employees, or (iv) conferring on a Participant any of the rights of a stockholder of the Company including, without limitation, any right to receive
dividends or distributions, any right to vote or act by written consent, any right to attend meetings of stockholders or any right to receive any information concerning the Company’s business, financial condition, results of operation or
prospects, unless and until such time as the Participant is duly issued Shares on the stock books of the Company in accordance with the terms of an Award. None of the Company, its officers or its directors shall have any fiduciary obligation to the
Participant with respect to any Awards unless and until the Participant is duly issued Shares pursuant to the Award on the stock books of the Company in accordance with the terms of an Award. Neither the Company nor any of the Company’s
officers, directors, representatives or agents are granting any rights under the Plan to the Participant whatsoever, oral or written, express or implied, other than those rights expressly set forth in this Plan or the Award Agreement. 

(g)    Unfunded Status of Awards; Creation of Trusts. The Plan is intended to constitute an
“unfunded” plan for incentive and deferred compensation. With respect to any payments not yet made to a Participant or obligation to deliver Shares pursuant to an Award, nothing contained in the Plan or any Award shall give any such
Participant any rights that are greater than those of a general creditor of the Company; provided that the Committee may authorize the creation of trusts and deposit therein cash or Shares, or make other arrangements to meet the Company’s
obligations under the Plan. Such trusts or other arrangements shall be consistent with the “unfunded” status of the Plan unless the Committee otherwise determines with the consent of each affected Participant. The trustee of such trusts
may be authorized to dispose of trust assets and reinvest the proceeds in alternative investments, subject to such terms and conditions as the Committee may specify and in accordance with applicable law. 

(h)    Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor its submission to the
shareholders of the Company for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other incentive arrangements as it may deem desirable. 

(i)    Payments in the Event of Forfeitures; Fractional Shares. Unless otherwise determined by the
Committee, in the event of a forfeiture of an Award with respect to which a Participant paid cash or other consideration, the Participant shall be repaid the amount of such cash or other consideration. No fractional Shares shall be issued or
delivered pursuant to the Plan or any Award. The Committee shall determine whether cash, other Awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be
forfeited or otherwise eliminated. 

  
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 (j)    Governing Law. The validity, construction and effect of
the Plan, any rules and regulations under the Plan, and any Award Agreement shall be determined in accordance with the laws of the State of Delaware without giving effect to principles of conflict of laws, and applicable federal law. 

(k)    Non-U.S. Laws. The Committee shall have the authority to
adopt such modifications, procedures, and subplans as may be necessary or desirable to comply with provisions of the laws of foreign countries in which the Company or its Related Entities may operate to assure the viability of the benefits from
Awards granted to Participants performing services in such countries and to meet the objectives of the Plan. 

(l)    Plan Effective Date and Shareholder Approval; Termination of Plan. The Plan became effective on the
Effective Date. The Plan shall terminate at the earliest of (a) such time as no Shares remain available for issuance under the Plan, (b) termination of this Plan by the Board, or (c) the tenth anniversary of the Effective Date. Awards
outstanding upon expiration of the Plan shall remain in effect until they have been exercised or terminated, or have expired. 
  

  
 23 

 EXHIBIT A 

OPTIONS – ADDENDUM 

France 
 The Committee has determined that
it is necessary and advisable to establish a sub-plan for the purpose of permitting options to qualify for the French specific tax and social security treatment. Therefore, options granted under the
Amended and Restated Incentive Compensation Plan (the Plan”) by TransEnterix, Inc. (the “Company”) to employees who are French tax residents and/or subject to the French social security regime on a mandatory basis on the Grant Date
(the “French Participants”) of its Related Entities may be granted under the terms of this Addendum as follows: 
  

	1.	Definitions: 

 Capitalized terms not otherwise defined herein shall have the same meanings as set
forth in the Plan and in the Option Agreement. In the event of a conflict between the terms and conditions of the Plan, this Addendum and the Option Agreement, the terms and conditions of the Plan shall prevail except for the following additional
terms that shall be defined as follows: 
  

	 	•	 	Grant Date: the term “Grant Date” shall be the date on which the Board or the Committee (i) designates the French Participant(s), (ii) sets up the Exercise Price of the options, and (iii) specifies
the terms and conditions of the options. 

  

	 	•	 	Related Entities: the term “Related Entities” means the companies within the meaning of Article L. 225-197-2 of the French
Commercial Code or any provision substituted for same. 

  

	2.	Specific conditions laid down under this Addendum: 

  

	1)	Notwithstanding any other provision of the Plan, options granted to any Participant who is a consultant, an “Administrateur,” or a member of the “Conseil de Surveillance,” as these terms are defined
in French Corporate law, and who does not have a work contract with the Company or its Related Companies will be deemed to have not been granted an option pursuant to this Addendum. 

 

	2)	Notwithstanding any other provision of the Plan, the number of options offered through the Plan cannot exceed one third of the capital of the Company. This limit is reduced to 10% of the company capital if the options
are granted over treasury shares. 

  

	3)	Notwithstanding any other provision of the Plan, no option can be granted to a French Participant who holds directly or indirectly more than ten percent (10%) of the Company’s share capital. 

 

	4)	Notwithstanding any other provision of the Plan, any option with an Exercise Price on the Grant Date of the option that is less than 80% of the average of the market value of the underlying share during the twenty
(20) trading days (using opening quotation) preceding the Grant Date shall be deemed to have not been granted under this Addendum. In addition, with respect to options to purchase existing shares, any option with an Exercise Price that is less
than 80% of the average price paid by the Company to buy back the Shares it holds as at Grant Date shall be deemed to have not been granted under this Addendum. 

  

	5)	Notwithstanding any other provision of the Plan, options cannot be granted before the end of a period of twenty (20) stock exchange sessions after the date on which Shares are traded without dividend rights or
capital increase subscription rights (“détachement du coupon”). 

  

	6)	Notwithstanding any other provision of the Plan, no options can be granted during the ten (10) stock exchange sessions preceding or following the publication of the annual financial consolidated account or the
annual financial statement. 

  

	7)	Notwithstanding any other provision of the Plan, no options can be granted during the period starting the date the corporate management of the company is aware of information the publication of which could have a
substantial consequence on the Fair Market Value of the Shares and ending ten (10) stock exchange sessions after the publication of this information. 

  

	8)	Notwithstanding any other provision of the Plan, the Exercise Price of an option shall be adjusted only upon the occurrence of the events under section L.225-181 of the French
Commercial Code. Any reduction by the Company, to the Exercise Price of an outstanding and unexercised option previously issued under this Addendum, to the current Fair Market Value of the underlying Shares shall be deemed to not have been an option
granted under this Addendum. 

  

	9)	Notwithstanding any other provision of the Plan, in the event of the death of a French Participant, the heirs of such French Participant shall have a six (6)-month period from the date of such French Participant’s
death, to exercise all or part of the options held by such French Participant on the day of his death regardless of whether or not they are vested. As a consequence, all the options held by such French Participant which have not yet been exercised
by his/her heirs upon the expiration of the aforementioned six (6)-month period, shall be definitively and automatically forfeited. 

  

	10)	Notwithstanding any other provision of the Plan and, except in the case of death of the French Participant, the options are non-transferable. 

 

	11)	Notwithstanding any other provision of the Plan, it is intended that the options granted under this Addendum shall qualify for the special tax and social security treatment applicable to stock options according to
Sections L. 225-177 to L. 225-186-1 of the French Commercial Code and in accordance with the relevant provisions set forth by
French income tax and social security laws, but no undertaking is made to maintain such status. 

  
 A-2 

 The terms of the options granted to French Participants in accordance with this Addendum shall be
interpreted accordingly and in accordance with the relevant provisions set forth by French income tax and social security laws, as well as the relevant administrative guidelines and subject to the fulfillment of any applicable legal, tax and
reporting obligations, if applicable. 
 This Addendum is adopted and is effective as of October 26, 2015. 

  
 A-3 

 TRANSENTERIX – RESTRICTED STOCK UNITS (RSU) – ADDENDUM 

FRANCE 
 The Committee has determined that
it is necessary and advisable to establish a sub-plan for the purpose of permitting Restricted Stock Units (“RSU”) to qualify for the French specific tax and social security treatment applicable to
free share awards granted in accordance with Articles L.225-197-1 to L.225-197-6 of the
French Commercial Code. 
 Therefore, RSU granted under the Amended and Restated Incentive Compensation Plan (the Plan”) by TransEnterix, Inc. (the
“Company”) to employees who are French tax residents and/or subject to the French social security regime on a mandatory basis on the Grant Date (the “French Participants”) of its Related Entities may be granted under the terms of
this Addendum as follows: 
  

	1.	Definitions: 

 Capitalized terms not otherwise defined herein shall have the same meanings as set
forth in the Plan and in the Agreement. In the event of a conflict between the terms and conditions of the Plan, this Addendum and the Agreement, the terms and conditions of the Plan shall prevail except for the following additional terms that shall
be defined as follows: 
  

	•	 	“Closed Period” means (i) ten quotation days preceding and three quotation days following the disclosure to the public of the consolidated financial statements or annual statement of the Company; or
(ii) the period as from the date the corporate management possesses material information which could, if disclosed to the public, significantly impact the quotation of the Shares of the Company, until ten quotation days after the day such
information is disclosed to the public. 

  

	•	 	“Disability” means disability as determined in categories 2 and 3 under Article 341-4 of the French Social Security Code. 

 

	•	 	“First Vesting Date” shall mean the date the first one-third of the RSU become non-forfeitable and converted into Shares as
provided for in the Agreement. 

  

	•	 	“Grant Date” shall be the date on which the Committee (i) designates the French Participants; and (ii) specifies the terms and conditions of the RSU, including the number of Shares to be transferred
at a future date, the Vesting Period, the Holding Period, the conditions for the delivery of the Shares underlying the RSU by the Company, if any, and the conditions for the disposal of the Shares, if any. 

 

	•	 	“Holding Period” shall mean the period of at least two years following the First/Second/Third Vesting Dates during which the Shares cannot be sold or transferred. 

 

	•	 	“Related Companies” means the companies within the meaning of Article L. 225-197-2 of the French Commercial Code or any provision
substituted for same. 

  
 A-4 

	•	 	“RSU” shall mean a promise by the Company to transfer Shares to a French Participant, at a future date, for free as long as the French Participant fulfills the conditions as provided for in the Agreement. The
French Participants are not entitled to any dividend or voting rights until the Shares are transferred to the French Participant. 

  

	•	 	“Second Vesting Date” shall mean the date the second one-third of the RSU become non-forfeitable and converted into Shares as
provided for in the Agreement. 

  

	•	 	“Third Vesting Date” shall mean the date the last one-third of the RSU become non-forfeitable and converted into Shares as
provided for in the Agreement. 

  

	•	 	“Vesting Date” shall mean the date the RSU become non-forfeitable and converted into Shares. The vesting schedule is provided for in the Agreement and may be composed of
a First Vesting Date, a Second Vesting Date or a Third Vesting Date. To qualify for the French special tax and social security regime, such First Vesting Date shall not occur prior to the second anniversary of the Grant Date. 

 

	2.	Specific conditions laid down under this Addendum: 

 1) This Addendum shall be applicable to
French Employees and corporate officers (e.g., Président du Conseil d’Administration, Directeur Général, Directeur Général Délégué, Membre du Directoire, Gérant de
sociétés, Président de sociétés par actions) of a Related Company and who is a French tax resident and/or subject to the French social security regime on a mandatory basis at the time of the grant (the “French
Participants”). 
 2) RSU may be granted only to French Participants who hold less than ten percent (10%) of the outstanding Shares of the Company at
the Grant Date, being specified that a grant cannot entitle a French Participant to hold more than ten percent (10%) of the share capital of the Company. 

3) The First Vesting Date, the Second Vesting Date and the Third Vesting Date shall not occur prior to the expiration of a period of at least two years
calculated from the Grant Date. However, notwithstanding the above, in the event of the death or Disability of a French Participant, all of his or her outstanding RSU shall vest as set forth in Section 8 and in Section 9 below. 

4) The Shares are automatically transferred to the French Participant upon Vesting Date. The Shares transferred to a French Participant shall be recorded in
the name of the French Participant in an account with the Company or a broker, or in such other manner as the Company may otherwise determine, to ensure compliance with applicable restrictions provided under French tax law. 

5) Unless and until such time as Shares are transferred to the French Participant, the French Participant shall have no ownership of the Shares allocated to
the RSU and shall have no right to vote and to receive dividends, if applicable, subject to the terms, conditions and restrictions described in the Plan, in the Agreement and herein. 

  
 A-5 

 6) The Shares shall not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of until the
end of the Holding Period. This Holding Period applies even if the French Participant is no longer an employee or corporate officer of a Related Entity in France, except as provided for in Section 8, in Section 9 and in Section 10
below. As from the end of each Holding Period (the release Date), the corresponding Shares shall be freely transferable, subject to applicable legal and regulatory provisions in force. In addition, the Shares allocated under this Addendum may not be
sold or transferred during Closed Periods. 
 7) Notwithstanding any provision in the Plan to the contrary and, except in the case of French
Participant’s death, the RSU are not transferable. 
 8) In the event of the death of a French Participant, all RSU held by the French Participant at
the time of death shall become immediately transferable to the French Participant’s heirs. The Company shall transfer the underlying Shares to the French Participant’s heirs, at their request, provided such request occurs within six months
following the death. Notwithstanding the foregoing, the French Participant’s heirs are not subject to the restriction on the sale of shares set forth in Section 6 above. 

9) In the event of the Disability of a French Participant, all RSU held by the French Participant at the time of termination due to the Disability become
vested in full. In addition, the French Participant is no longer subject to the restriction on the sale of Shares set forth in Section 6 above. 
 10)
In the event the French Participant is no longer a French tax resident and is no longer affiliated to the French social security regime on a mandatory basis at Vesting Date, the Holding Period as provided for in this Addendum should not apply. 

11) It is intended that the RSU granted under this Addendum shall qualify for the special tax and social security treatment applicable to free shares granted
under Sections L. 225-197-1 to L. 225-197-6 of the French Commercial Code and in
accordance with the relevant provisions set forth by French tax and social security laws, but no undertaking is made to maintain such status. 
 The terms
of the RSU granted to French Participants shall be interpreted accordingly and in accordance with the relevant provisions set forth by French tax and social security laws, as well as the relevant administrative guidelines and subject to the
fulfillment of any applicable legal, tax and reporting obligations, if applicable. 
 This Addendum is adopted and is effective as of October 26, 2015.

  
 A-6Exhibit 10.1

 

 

 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS AGREEMENT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. A COMPLETE VERSION OF THIS AGREEMENT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

Execution Version

AMENDED AND RESTATED UNANIMOUS SHAREHOLDER AGREEMENT

GONUMERICAL LTD.

 

TABLE OF CONTENTS

 

	
1.   INTERPRETATION

	
4

	
2.   MANAGEMENT AND OPERATION

	
7

	
3.   FINANCIAL MATTERS

	
11

	
4.   EMPLOYEE STOCK OPTION PLAN

	
13

	
5.   PRE-EMPTIVE RIGHTS

	
13

	
6.   ACCESS TO INFORMATION/CONFIDENTIALITY

	
14

	
7.   RESTRICTIONS ON TRANSFERS OF SHARES

	
14

	
8.   VOLUNTARY TRANSFERS OF SHARES

	
15

	
9.   MANDATORY TRANSFERS OF SHARES

	
17

	
10. THE FAIR MARKET VALUE OF SHARES

	
17

	
11. CLOSING TERMS

	
17

	
12. HOLDING CORPORATIONS

	
18

	
13. KEY MAN LIFE INSURANCE

	
19

	
14. NON-COMPETITION/NON-SOLICITATION

	
19

	
15. NOTATION ON EACH SHARE CERTIFICATE

	
20

	
16.  ARBITRATION

	
20

	
17.  GENERAL

	
22

	
SCHEDULE “A” GONUMERICAL LTD.  ISSUED SHARE CAPITAL

	
29

	
SCHEDULE “B” ADDRESSES FOR NOTICES

	
1

	
SCHEDULE “C” ADOPTION AGREEMENT

	
7

	
SCHEDULE “D” TEMPORARILY FROZEN EXECUTIVE COMPENSATION

	
8

	
 

	
 

 

 

AMENDED AND RESTATED UNANIMOUS SHAREHOLDER AGREEMENT

THIS AMENDED AND RESTATED UNANIMOUS SHAREHOLDER AGREEMENT

(this “Agreement”) is made as of the 2nd day of October, 2017 between:

COLE DIAMOND, an individual residing in the Province of Ontario (hereinafter referred to as “Cole”)

		-	
and -

MICHAEL DIAMOND, an individual residing in the Province of Ontario (hereinafter referred to as “Michael”)

		-	
and -

VIRGILE ROSTAND, an individual residing in the Province of Ontario (hereinafter referred to as “Virgile”)

		-	
and -

ROBERT FURSE, an individual residing in the Province of Ontario (hereinafter referred to as “Robert”)

		-	
and -

JAZSE HOLDINGS INC., a corporation incorporated and validly existing under the laws of the Province of Ontario

(hereinafter referred to as “Jazse”)

		-	
and -

TREAD LIGHTLY, LLC, a corporation incorporated and validly existing under the laws of the State of Maine (hereinafter referred

to as “Tread”)

		-	
and -

TWG STARTUP INVESTMENT 2 CORP., a corporation incorporated and validly existing under the laws of Ontario (hereinafter referred to as “TWG”)

		-	
and -

BIOPTIX INC., a corporation incorporated and validly existing under the laws of Nevada (hereinafter referred to as “Bioptix”)

2

		-	
and -

2330573 ONTARIO INC., a corporation incorporated and validly existing under the laws of Ontario (hereinafter referred to as “233”)

		-	
and -

JEFF CORDEIRO, an individual residing in the State of Florida (hereinafter referred to as “Jeff”)

		-	
and -

PETER SIMEON, an individual residing in the Province of Ontario (hereinafter referred to as “Peter”)

		-	
and -

EDUARDO VIVAS, an individual residing in the State of California (hereinafter referred to as “Eduardo”)

		-	
and -

ARGYLE LLC, a corporation incorporated and validly existing under the laws of Indiana (hereinafter referred to as “Argyle”)

		-	
and -

ERIC SO, an individual residing in the Province of Ontario (hereinafter referred to as “Eric”)

		-	
and -

ROSS LEVINSOHN, an individual residing in the State of California (hereinafter referred to as “Ross”)

		-	
and -

SEAN LAI, an individual residing in the Province of Ontario (hereinafter referred to as “Sean”)

		-	
and -

MICHAEL BRAUSER, an individual residing in the State of Florida (hereinafter referred to as “Michael”)

		-	
and -

3

 

RECITALS:

BARRY HONIG, an individual residing in the State of Florida (hereinafter referred to as “Barry”)

		-	
and -

GRQ CONSULTANTS INC. ROTH 401K FBO BARRY

HONIG, a corporation incorporated and validly existing under the laws of Florida (hereinafter referred to as “GRQ”)

		-	
and -

ERICA AND MARK GROUSSMAN FOUNDATION, formed

and validly existing under the laws of Florida (hereinafter referred to as “Groussman Foundation”)

		-	
and -

TITAN MULTI-STRATEGY FUND I, LTD., a corporation

incorporated and validly existing under the laws of Florida (hereinafter referred to as “Titan”)

		-	
and -

STETSON CAPITAL INVESTMENTS INC., a corporation

incorporated and validly existing under the laws of Florida (hereinafter referred to as “Stetson”)

		-	
and -

KENT FARRELL, an individual residing in the Province of Ontario (hereinafter referred to as “Kent”)

		-	
and -

GONUMERICAL LTD., a corporation incorporated and validly existing under the federal laws of Canada (hereinafter referred to as the “Company”)

		A.	
WHEREAS the Company was incorporated by articles of incorporation on October 19, 2009, which were amended September 26, 2017;

		B.	
AND WHEREAS the authorized capital of the Company consists of an unlimited amount of Common Shares of which twenty million five hundred and ninety five thousand five hundred and eighty nine (20,595,589) Common Shares are issued as of the date hereof and are registered on the Company’s books as set out in Schedule “A” hereto;

4

		C.	
AND WHEREAS Cole, Virgile, Michael and the Company were parties to a certain unanimous shareholder agreement dated February 1, 2017 (the “USA”);

		D.	
AND WHEREAS in connection with completion of the Triggering Equity Financing (as defined below), the parties hereto wish to concurrently enter into this amended and restated unanimous shareholder agreement to govern their relationship as shareholders of the Company and to set out the manner in which the Company and its business will be conducted and to make certain provision herein for the continuing harmonious and advantageous operation of the Company.

NOW THEREFORE for good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:

		1.	
INTERPRETATION

(1) Definitions. In addition to the terms defined elsewhere herein, in this Agreement:

		(a)	
“Affiliate” has the meaning given to it in the CBCA;

		(b)	
“Arm’s Length” means dealing at arm’s length (within the meaning of the ITA) with the Company and each Director, Principal, Shareholder and officer of the Company;

		(c)	
“BOD” means the board of Directors of the Company from time to time;

		(d)	
“Business” means the business of the Company in providing digital platforms, facilities and operations for facilitating the trade of digit currencies between third parties;

		(e)	
“Business Day” means any day other than a Saturday, Sunday or a statutory holiday in the Province of Ontario;

		(f)	
“CBCA” means the Canada Business Corporations Act, as such may be amended from time to time;

		(g)	
“Control” means, with respect to any corporation, the beneficial ownership of voting securities in the capital of such corporation, to which are attached more than fifty percent (50%) of the votes that may be cast to elect the directors of such corporation and such votes are sufficient (and are exercised) to elect a majority of the directors thereof, or the right to appoint a person to manage the day-to-day operations and business of such corporation.

		(h)	
“Corporate Shareholder” means a corporation that becomes a shareholder of the Company from time to time;

		(i)	
“Corpshareco Shares” means in respect of a Corporate Shareholder, all of the issued and unissued shares in its capital at a given time;

5

		(j)	
“Director” means any member of the BOD from time to time;

		(k)	
“Equity Financing” means a bona fide transaction or series of transactions which shall close following the date hereof with the principal purpose of raising capital in the total aggregate amount not less than one million dollars ($1,000,000.00) in the lawful currency of Canada, pursuant to which the Company issues and sells shares in the capital of the Company at a fixed pre- money valuation, as contemplated by the Company;

		(l)	
“Event of Default” means a breach by any Shareholder (including in the case of a Corporate Shareholder, by the Principal thereof) of any material provision of this Agreement (except in the case of any breach of Section 14, which may not remedied and shall be deemed to be an Event of Default as of the date of the breach) within 30 days after notice thereof has been given to the Shareholder by the Company, except that an event that would otherwise be an Event of Default shall not be an Event of Default if such event occurs with the prior written consent of all of the other parties;

		(m)	
“Event of Insolvency” means in respect of any party:

		(i)	
an Insolvency Proceeding being instituted by the party;

		(ii)	
an Insolvency Proceeding being instituted against the party that is not contested in good faith by appropriate proceedings or, if so contested, remains outstanding, undismissed and unstayed for more than sixty (60) days from the institution thereof;

		(iii)	
the party making a general assignment for the benefit of its creditors; or

		(iv)	
the admission or other acknowledgment in writing by the party that it is unable to pay its debts generally or that it is otherwise insolvent;

		(n)	
“Fair Market Value” means in respect of each Share on a particular date, (i) the most recent subscription price per Share in a financing and/or investment transaction completed not more than six (6) months before such date; or (ii) if there has been no such transaction, the fair market value thereof as determined under Section 10 of this Agreement;

		(o)	
“including” means including without limitation;

		(p)	
“Insolvency Proceeding” means a proceeding in bankruptcy, receivership, insolvency, reorganization, liquidation or winding-up instituted in respect of a Shareholder under the Bankruptcy and Insolvency Act (Canada), the Companies Creditors Arrangement Act (Canada), or any other act now or hereinafter in force for bankrupt or insolvent debtors;

		(q)	
“ITA” means the Income Tax Act (Canada), as such may be amended from time to time;

6

		(r)	
“Parties” means, collectively, each of the signatories to this Agreement, and “Party” means any one of them;

		(s)	
“Permitted Indebtedness” means a certain non-interest bearing line of credit of up to $10 million issued by Bitfinex, a cryptocurrency platform, in favour of the Company or its Subsidiary or Affiliate, to be used exclusively to maximize the efficiency and liquidity of all trading done through any cryptocurrency exchange operated by the Company or any of its Subsidiaries or Affiliates.

		(t)	
“Principal” means any individual who is or becomes the controlling shareholder of a Corporate Shareholder;

		(u)	
“Pro Rata Proportion” in respect of any particular Shareholder at any time, means the percentage that the number of Shares owned by such Shareholder is of the total number of all issued Shares;

		(v)	
“Public Offering” means a public offering of shares in the capital of the Company resulting in the listing of such shares through the facilities of the of a recognized stock exchange including, without limitation, Toronto Stock Exchange, the TSX Venture Exchange, the New York Stock Exchange, the American Stock Exchange or the National Association of Securities Dealers Automated Quotation System (National or Small Cap Markets);

		(w)	
“Shareholders” means, collectively, the initial parties hereto (other than the Company), the Principals, permitted assigns and all other persons or corporations that become shareholders of the Company from time to time and “Shareholder” means each such person or corporation;

		(x)	
“Shareholder Resolution” means a resolution that is submitted to a meeting of the Shareholders duly called for the purpose of considering the resolution

(i) passed, with or without amendment, at the meeting by a vote representing at least seventy percent (70%) of the holders of the then outstanding Shares or

(ii) signed in writing by at least seventy percent (70%) of the holders of the then outstanding Shares;

		(y)	
“Shares” means shares in the capital of the Company and for the purposes of any “fully-diluted basis” calculation includes any debt or other securities that have vested and are convertible into shares of the Company;

		(z)	
“Subsidiary” means Coinsquare Inc.;

(aa) “Triggering Equity Financing” means the Equity Financing completed  the  date hereof in connection with which the Triggering Equity Financing Investors purchased 3,329,479 units for aggregate proceeds equal to

$5,760,000 each unit being comprised of one Share and a common share purchase warrant entitling the holder to purchase 0.5 of a Share at an exercise price of $4.85; and

7

(bb) “Triggering Equity Financing Investors” means Bioptix, 233, Jeff, Peter, Eduardo, Argyle, Eric, Ross, Sean, Michael, Barry, GRQ, Groussman Foundation, Titan, Stetson and Kent.

(2) Interpretation. All references in this Agreement to “herein”, “hereof” and “hereunder” refer to this Agreement and all references herein to paragraph, subsection and section numbers and to Schedules are references to, respectively, paragraphs, subsections and sections of, and schedules attached to, this Agreement, unless there is a specific reference otherwise.

(3) Corporate Shareholder and Principal References. Each reference herein to a Corporate Shareholder, or the Principal thereof, means a reference to either or both of the Corporate Shareholder and the Principal, as the context may require.

(4) Currency. All dollar amounts provided for in this Agreement are in Canadian funds.

(5) Number and Gender. Unless otherwise specified, words importing the singular include the plural and vice versa and words importing gender include all genders.

(6) Independent Legal Advice. Each Shareholder and each Principal hereby acknowledges that they have obtained or been provided with the opportunity to obtain independent legal advice in connection with this Agreement, that they understand the terms and consequences of this Agreement, that they are signing voluntarily and not under any form of duress from or in reliance on any representation by any other party hereto, third party or anyone acting on their behalf. The parties further acknowledge that Fasken Martineau DuMoulin LLP is acting on behalf of the Company only in connection with this Agreement.

(7) Schedules

	
Schedule A

	
-

	
goNumerical Ltd. - Issued Share Capital

	
Schedule B

	
-

	
Addresses for Notices

	
Schedule C

	
-

	
Adoption Agreement

	
Schedule D

	
-

	
Temporarily Frozen Executive Compensation

		2.	
MANAGEMENT AND OPERATION

(1) Directors. The Company shall have a BOD  consisting  of  a  minimum  of  five  (5) Directors and a maximum of seven (7) Directors. Cole shall occupy one (1) seat on the BOD, Virgile shall occupy one (1) seat on the BOD, a nominee of Cole (“Cole Nominee”) shall occupy one (1) seat on the BOD and a nominee of Virgile (“Virgile Nominee”) shall occupy one

(1) seat on the BOD. One (1) seat on the BOD shall be reserved for a nominee of the Triggering Equity Financing Investors (“Triggering Investor Nominee”) during all such times that it owns not less than 5% of the issued and outstanding Shares. Subject to the provisions of this Section  2, the BOD shall manage and supervise the management of the business and affairs of the Company. Subject to approval by a majority of the Directors, including the Triggering Investor

8

Nominee, and compliance with the CBCA, the number of Directors on the Board may be increased to a maximum of seven (7).

(2)  Directors’ Meetings. The BOD shall, unless otherwise determined in  accordance with the Agreement, meet at least once per quarter in each financial year of the Company. In addition to such obligatory quarterly meetings, the BOD shall meet at such times and in such places as the BOD may determine. Meetings of the BOD may be called by any Director of the Corporation upon not less than ten (10) Business Days’ written notice, which notice shall describe the business proposed to be transacted at such meeting. The quorum for any meeting of the BOD shall be a majority of the Directors of the Company present in person or by conference telephone, provided that attendance at the meeting of the BOD must include (i) at least one (1) of Virgile or Virgile Nominee and one (1) of Cole or Cole Nominee and (ii) the Triggering Investor Nominee to constitute quorum. If a quorum is not present within 30 minutes after the time fixed for holding such BOD meeting, then the Directors present may not transact any business and such Directors shall be deemed to have adjourned the meeting to such day determined by the Directors present at the meeting and which is not less than 5 Business Days later and at least 2 Business Days’ written notice shall be given of such adjourned meeting. If a quorum is not present at such adjourned meeting within 30 minutes after the time fixed for holding such adjourned meeting, the quorum at such adjourned meeting shall be a majority of the members of the BOD.

(3)  Restrictions on Directors’ Powers. The powers of the BOD and all other persons who may hereafter be elected or appointed as members of the BOD to manage or supervise the management of the business and affairs of the Company are restricted in part as set out in this Agreement.

		(4)	
Decisions of Directors

		(a)	
Except as otherwise provided herein and subject to the CBCA and Section 2(4)(b), any resolution of the BOD shall only be validly passed and effective if (i) at a duly constituted meeting of the BOD, such resolution receives the affirmative vote of at least a majority of the Directors participating in the meeting (each Director having only one vote); or (ii) all the Directors consent in writing to such resolution.

		(b)	
Any resolution of the BOD with respect to the following matters shall only be validly passed and effective if (i) at a duly constituted meeting of the BOD, such resolution receives the affirmative vote of the Triggering Investor Nominee; or (ii) the Triggering Investor Nominee consents in writing to such resolution:

		(i)	
any borrowing of funds or incurring of any indebtedness by the Company or any Subsidiary or Affiliate of the Company, except for the Permitted Indebtedness, prior to October 1, 2019 for any purpose having a value of more than five hundred thousand dollars ($500,000.00) individually, or in the aggregate in any 12 month period;

9

		(ii)	
any acquisition by the Company, or any Subsidiary or Affiliate of the Company, of, or any agreement by the Company, or any Subsidiary or Affiliate of the Company, to acquire, any or all of the shares or assets of another corporation or business enterprise having a value of more than five hundred thousand dollars ($500,000.00) individually, or in the aggregate in any 12 month period;

		(iii)	
the issuance of any Securities of a Subsidiary or Affiliate;

		(iv)	
any declaration or payment of any dividend from the Company;

		(v)	
any sale, lease, exchange, transfer, assignment, mortgage or other encumbrance, or other disposition of the undertaking or of any or all of the property and assets of the Company having a value in excess of five hundred thousand dollars ($500,000.00);

		(vi)	
the taking of any steps to: (i) amalgamate, consolidate or merge the Company with any corporation, partnership, joint venture, firm or other entity, or (ii) wind-up, dissolve, liquidate or otherwise terminate the existence of the Company; and

		(vii)	
any issuance of securities of the Company, prior to April 1, 2019, where such issuance would result in a valuation of the Company’s price per share to be lower than the valuation of the Company’s price per share used in the Triggering Event Financing, other than an issuance of securities (i) pursuant to the ESOP (as defined in Section 4), (ii) pursuant to the exercise of options granted thereunder, or (iii) pursuant to the exercise of any common share purchase warrants issued in connection with the Triggering Event Financing.

(5) Shareholder Resolution Items. No action shall be taken by a Shareholder, the Company, the BOD or any Director or officer of the Company in respect of any of the following actions without a Shareholder Resolution:

		(a)	
any redemption, purchase or other acquisition by the Company of any Shares representing an investment in the total aggregate amount of one hundred thousand dollars ($100,000.00);

		(b)	
any declaration or payment of any dividend from the Company;

		(c)	
any material contract, other agreement or transaction between the Company and any Shareholder, Director or officer of the Company or any other non- Arm’s Length person or entity, except those that are made in the ordinary course of business;

		(d)	
any approval of, or changes to, executive compensation;

10

		(e)	
any sale, lease, exchange, transfer, assignment, mortgage or other encumbrance, or other disposition of the undertaking or of any or all of the property and assets of the Company having a value in excess of one million dollars ($1,000,000.00);

		(f)	
except as may be necessary in the ordinary course of business, any agreement by the Company to: (i) make, directly or indirectly, loans or advances to, or investments in, (ii) give security for or guarantee the debts of, (iii) or give financial assistance to or otherwise become liable in respect of the obligation of, any person or other entity;

		(g)	
any acquisition by the Company of, or any agreement by the Company to acquire, any or all of the shares or assets of another corporation or business enterprise having a value of more than one million dollars ($1,000,000.00);

		(h)	
the Company entering into a partnership, joint venture or any other arrangement for the sharing of profits with any person, corporation or other entity, except in the ordinary course of business;

		(i)	
the removal of any Director, except for Virgile Nominee, Cole Nominee or any other nominee of a Director;

		(j)	
any capital expenditures greater than one million dollars ($1,000,000.00);

		(k)	
any issuance of securities of the Company other than (i) pursuant to the ESOP (as defined in Section 4), (ii) pursuant to the exercise of options granted thereunder, or pursuant to the exercise of any common share purchase warrants issued in connection with the Triggering Event Financing; and

		(l)	
any purchase or sale of shares by either a related or third party purchaser.

(6)  Shareholders’ Meetings. Annual meetings of Shareholders shall be held in the Municipality of Metropolitan Toronto or at such other place as may be specified by the BOD within three (3) months of the Company’s financial year-end. A quorum for any annual meeting of the Shareholders shall be the holders of seventy percent (70%) of the Shares of the Company, present in person or by means of conference telephone or other communications equipment as permits all persons participating in the meeting to communicate with each other simultaneously and instantaneously (and, for greater certainty, a meeting of the Shareholders may be constituted at which some Shareholders are present in person and other Shareholders are present by means  of such communication facilities), provided that attendance at the meeting of the Shareholders must include at least one (1) of the Triggering Equity Financing Investors to constitute quorum. If (i) no such quorum is present within thirty (30) minutes following the time at which the meeting is scheduled to take place, the meeting shall stand adjourned to the same day two (2) weeks later (or, if that day is not a Business Day, the next following Business Day) at the same time and place; (ii) no such quorum is present within thirty (30) minutes following the time at which the adjourned meeting is scheduled to take place, the meeting shall again stand adjourned to the second day thereafter (or, if that day is not a Business Day, the next following Business Day) at the same time and place; and (iii) no such quorum is present within thirty (30) minutes

11

following the time at which the second adjourned meeting is scheduled to take place, subject to the CBCA, the Shareholders present thereat shall constitute a quorum for the transaction of the business for which the meeting was called.

(7) Officers. The Directors may appoint such officers as they consider from time to time necessary for the proper conduct of the Company.

		3.	
FINANCIAL MATTERS

(1) General Operational Funding Principles. Except as expressly provided in this Agreement, none of the Shareholders shall be obligated to subscribe for additional Common Shares or other shares of the Corporation or to make loans to the Corporation or guarantee indebtedness or other obligations of the Corporation. It is the intention of the Parties that funds required by the Corporation from time to time will be obtained, to the extent possible, by borrowing from the Corporations’ bankers or other lender acceptable to the BOD.

(2) Borrowing from Non-Arm’s Length Lenders.

		(a)	
Notwithstanding Section 3(1), any proposed borrowing of money (the actual amount of money in any such circumstances being the “Special Loan Principal Amount”) by the Company from a lender who is not Arm’s Length (a “Special Approval Lender”) to any of the Parties (a “Special Approval Loan”) shall require the unanimous approval of all of the Directors. In the event unanimous approval is not achieved, the Directors shall cause the Company to offer in writing (the “Special Loan Offer Notice”) to all Shareholders the right to lend to the Company their Pro Rata Proportion of the money contemplated by the Special Approval Loan on terms no less favourable than those proposed by the Special Approval Lender (the “Special Loan Offer”), all of which will be summarized in the Special Loan Offer Notice. The Special Loan Offer Notice will include, without limitation, a summary of the reasons for the Special Approval Loan and copy of the most recent financial statements of the Company.

		(b)	
Any of the Shareholders who want to accept the Special Loan Offer shall give notice of acceptance in writing to the Company within fifteen (15) Business Days from the receipt of the Special Loan Offer Notice. The Shareholders are not entitled to agree to loan any amount of the Special Approval Loan less than their respective Pro Rata Proportion of the Special Loan Principal Amount as set forth in the Special Loan Offer Notice. The failure by a Shareholder to deliver a notice of acceptance to the Corporation within the fifteen (15) Business Day period described in this Section 3(1)(b) shall be deemed to be a rejection of the Special Loan Offer. If, upon expiry of the fifteen (15) Business Day period described in this Section 3(1)(b), all or some of the Shareholders have not provided written notice that they have accepted the Special Loan Offer, the Corporation shall, to the extent of the Special Loan Amount not committed to be loaned by Shareholders (such shortfall being the “Uncommitted Special Loan Amount”), offer in writing (the

12

“Second Special Loan Offer Notice”) to each of those Shareholders who accepted the Special Loan Offer (the “Participating Shareholders”) the right to lend to the Company up to the full amount of the Uncommitted Special Loan Amount. Any of the Participating Shareholders who want to accept the Second Special Loan Offer shall give notice of acceptance in writing to the Company within five (5) Business Days from the receipt of the Second Special Loan Offer Notice and shall indicate the maximum amount they are prepared to loan. The failure by a Participating Shareholder to deliver a notice of acceptance to the Corporation within the five (5) Business Day period described above shall be deemed to be a rejection of the Second Special Loan Offer. If prior to expiry of such five (5) Business Day period, one or more of the Participating Shareholders (the “Second Offer Participating Shareholders”) collectively agree to lend more than all of the Uncommitted Special Loan Amount, then the BOD shall allocate the Uncommitted Special Loan Amount in its entirety and in its discretion among the Second Offer Participating Shareholders provided that any such allocation shall not exceed any amount indicated by a Second Offer Participating Shareholder. If following the election of the Second Offer Participating Shareholders any portion of the Uncommitted Special Loan Amount remains unallocated (the “Unallocated Special Loan Amount”), then the Company shall be free to borrow the Unallocated Special Loan Amount from the Special Approval Lender on the terms summarized in the Special Loan Offer Notice and in no circumstances on terms more favourable than those set forth in the Special Loan Offer Notice.

(3) Distribution Principles.

		(a)	
Subject to Section 3(3)(b) below, the BOD shall, having regard to the factors enumerated below, estimate the funds arising in the ordinary course of the Company’s operations during the relevant fiscal year which will be surplus to the Company’s reasonable requirements and therefore available for distribution to Shareholders (“Available Distributable Funds”). In determining Available Distributable Funds, the BOD shall have regard to the Company’s future growth requirements, special opportunities, existing and projected debt service and working capital requirements, the then anticipated methods of financing the foregoing and such other factors as the BOD may consider appropriate under the circumstances. In particular, the BOD may establish an appropriate reserve to fund payment of indebtedness, capital expenditure commitments and other known liabilities and obligations falling due after the fiscal year in question. Available Distributable Funds shall be distributed to the Shareholders at such times as determined by the BOD and by way of dividends or in such other manner as the BOD may determine. The BOD may at any time revise its estimate of Available Distributable Funds for a particular fiscal year and if the BOD is at any time unable to agree on estimated Available Distributable Funds, the BOD shall refer the matters in dispute to the Company’s external accountants or auditors, as the case may be, for determination, which shall be binding on all Parties until such time as the

13

BOD or the Company’s external accountants or auditors, as the case may be, make a further determination of Available Distributable Funds as contemplated herein.

		(b)	
Notwithstanding Section 3(3)(b), no dividends shall be declared or paid by the Company until after September 30, 2019 unless otherwise unanimously agreed by all of the members of the BOD.

(4) Executive Compensation. Base compensation for officers [*] will be frozen until [*] at those levels set forth in Schedule “D” unless otherwise unanimously agreed by all of the members of the BOD.

(5) Financial Reporting the Shareholders. During the term of this Agreement, each Shareholder shall receive from the Company, within forty-five (45) days of the end of each financial quarter in a fiscal year of the Company, unaudited financial statements for the immediately preceding quarter.

		4.	
EMPLOYEE STOCK OPTION PLAN

(1)  Employee Stock Option  Plan.  The Company shall establish an employee stock option   plan (the “ESOP”) for up to ten percent (10%) of the issued Shares at any given time (calculated on a fully-diluted basis) and shall initially reserve for issuance pursuant to the exercise of options granted under the ESOP two million fifty nine thousand five hundred and fifty eight (2,059,558) Shares, which options may be issued to the Company’s employees, directors and officers on such terms and conditions as the BOD may determine. The option price for Shares shall be  determined by the BOD in accordance with the terms of the ESOP.

		5.	
PRE-EMPTIVE RIGHTS

(1) Offerings of Shares. If, and each time, the Shareholders determine in accordance with Section 2(4)(k) to issue additional securities of the Company or any subsidiary thereof, such offering shall be made in accordance with this Section 5 (the “Offering”).

(2) Notice of Pre-Emptive Right. The Offering shall be made by an authorized officer of the Company sending to each Shareholder (“Notice of Pre-Emptive Right”) a notice setting forth the following information:

		(a)	
a description of the securities to be offered (the “Treasury Shares”);

		(b)	
the subscription price for each Treasury Share (the “Subscription Price”); and

		(c)	
the subscription date (the “Subscription Date”), which shall be a date not earlier than ten (10) Business Days after the date of the notice.

(3) Notice of Subscription. Each Shareholder may subscribe for his, her or its Pro Rata Proportion of the Treasury Shares determined as at the date of the Notice of Pre-emptive Right by giving notice of his subscription (“Notice of Subscription”) to the Company within ten (10)

14

Business Days after receipt of the Notice of Pre-Emptive Right (the “Subscription Period”). A Shareholder wishing to subscribe for Treasury Shares in excess of his Pro Rata Proportion shall, in his, her or its Notice of Subscription, specify the number or dollar amount, as the case may be, of Treasury Shares in excess of his, her or its Pro Rata Proportion that he, she or it wishes to purchase.

(4) Unsubscribed Treasury Shares. If a Shareholder does not subscribe for his, her or its  Pro Rata Proportion within the Subscription Period pursuant to Section 5(3) of this Agreement, the unsubscribed Treasury Shares shall be used (to the extent of the total number available) to satisfy the subscriptions of the other Shareholders pursuant to Section 5(3) of this Agreement for Treasury Shares in excess of their Pro Rata Proportions based on the Pro Rata Proportions of such Shareholders. No Shareholder shall be bound to take any Treasury Shares in excess of the amount he requested to purchase in his, her or its Notice of Subscription.

(5) Division of Treasury Shares. If the Treasury Shares of any issue are not  capable, without division into fractions, of being offered to or being divided between the parties in their Pro Rata Proportions, the Treasury Shares shall be offered to or divided between the parties as nearly as may be in these proportions and any balance shall be offered to or divided between the parties in the manner determined by the Shareholders by Shareholder Resolution.

(6) Issuance of Treasury Shares. Each Shareholder subscribing for Treasury Shares shall pay for, and the Company shall issue, the Treasury Shares on the Subscription Date.

		6.	
ACCESS TO INFORMATION/CONFIDENTIALITY

(1) Access. During the term of this Agreement, each Shareholder shall, one (1) time per year and upon not less than fifteen (15) Business Days’ written notice given to the Company, have access to all corporate and accounting books and records in the possession of the Company, and shall be entitled to make such examination thereof at the head office of the Company.

(2)  Confidentiality/Non-Disclosure. Each Shareholder shall (a) hold all of the Company’s proprietary information and information concerning its business and affairs in the strictest of confidence, and (b) not make any disclosure to third parties (other than its lawyers, financial advisors and accountants) or to the public of, or use or authorize anyone to use for any purposes other than for the private affairs of the Company, any information or data relating to the operations of the Company or of any other party, except with the approval of the BOD, but this provision shall not prohibit any disclosure to the extent required by governmental or regulatory authorities. Notwithstanding the foregoing, the BOD shall be entitled to make such disclosures  as the BOD, in his sole discretion, deems appropriate in connection with a potential transaction or business opportunity involving the Company, provided that the recipient of any disclosed confidential information of the Company shall sign a confidentiality agreement approved by the BOD.

		7.	
RESTRICTIONS ON TRANSFERS OF SHARES

Except for sales/transfers of Shares (a) to or between family trusts or personal holding companies where the respective Shareholder remains in control of his or her Shares (each a “Permitted Assign”), and/or (b) as expressly provided for herein, no Shareholder may sell,

15

assign, transfer, mortgage, pledge or otherwise dispose of or otherwise encumber or grant a security interest in any Shares held or owned by the Shareholder.

		8.	
VOLUNTARY TRANSFERS OF SHARES

		(1)	
Right of First Refusal.

If any Shareholder (in this Section 8 called the “Selling Shareholder”) wishes to sell any or all of his, her or its Shares (the “Offered Shares”), the Selling Shareholder shall first deliver to all other Shareholders (in this Section 8 called “Other Shareholders”) an offer in writing to sell his, her or its Offered Shares to the Other Shareholders in accordance with their Pro Rata Proportions (the “Offer”). The Offer shall be deemed to be an irrevocable offer by the Selling Shareholder to the Other Shareholders to sell all the Offered Shares to the Other Shareholders at the price per Share and upon the terms and conditions as contained in the Offer.

Any of the Other Shareholders who want to accept the Offer shall give notice of acceptance in writing to the Selling Shareholder within fifteen (15) Business Days from the receipt of the Offer. The Other Shareholders are not entitled to purchase any amount of the Offered Shares less than their respective Pro Rata Proportion of the Offered Shares as set forth in the Offer. The failure by an Other Shareholder to deliver a notice of acceptance to the Selling Shareholder within the fifteen (15)-Business Day period described in this Section 8(1) shall be deemed to be a rejection of the Offer.

If, upon expiry of the fifteen (15)-Business Day period described in this Section 8(1), all or some of the Other Shareholders have not provided written notice that they have accepted the Offer, the Selling Shareholder shall, to the extent of the Offeror’s Shares not so purchased, be free to complete the sale of such Shares with an Arm’s Length third party purchaser within a further period of sixty (60) days, subject to (i) the requirement that such sale be on terms no  more favourable to the Arm’s Length third party purchaser than the terms offered by the Selling Shareholder to the Other Shareholders as set forth in the Offer, and (ii) the condition precedent that the Arm’s Length third party purchaser shall first have executed and delivered a binding adoption agreement with the other Shareholders as provided in Section 18(10).

If the Selling Shareholder does not complete the sale to the Arm’s Length third party purchaser within the further sixty (60)-day period, such Shares shall again become subject to the provisions of this Section 8(1). All transfers of Shares pursuant to this Section 8(1) shall be completed on a good faith, bona fide basis.

		(2)	
Tag-Along Rights.

[*] If any or all of the

16

Other Shareholders accept the Purchase Offer, the sale of all or such percentage, in accordance with their Pro Rata Proportions, of the Shares held by such Other Shareholders, as the case may be, shall be completed at the same time as the sale of all or the same percentage, as applicable, of [*]. Each of the accepting Other Shareholders shall do all acts and things and execute such documents as may be necessary to carry out his, her or its obligations thereunder.

		(3)	
Drag-Along Rights.

If the Shareholders receive a bona fide cash offer (or cash equivalents) (in this Section 8(3) called a “Third Party Offer”) from a person at arm’s length to all of the Shareholders (in this section called a “Third Party”) for all of the outstanding Shares of the Company, then unless all of the Shareholders have already agreed to accept or reject the Third Party Offer, one or more Shareholders may require all of the Shareholders to indicate in writing to the Company as to whether they are in favour or against acceptance of the Third Party Offer. A Shareholder who does not participate in the straw vote is deemed to be against acceptance. Shareholders holding collectively at least eighty percent (80%) per cent of the issued and outstanding Shares (the “Accepting Shareholders”) who vote to accept the Third Party Offer may, if they wish, give a notice (the “Drag Along Notice”) to the Shareholders who have not voted to accept the Third Party Offer (the “Standing Pat Shareholders”). Delivery of the Drag Along Notice is deemed to be an offer by the Accepting Shareholders to sell all of the Shares owned by them to the Standing Pat Shareholders at the same price per Share and on the same terms and conditions as are contained in the Third Party Offer.

The Standing Pat Shareholders may accept the offer deemed by the Tag Along Notice within fifteen (15) Business Days following receipt of the Drag Along Notice in which case there shall be a binding agreement of purchase and sale by which the Standing Pat Shareholders shall purchase all of the Shares owned by the Accepting Shareholders at the same price per Share and on the same terms and conditions as are contained in the Third Party Offer. The Drag Along Notice may be accepted by one or more of the Standing Pat Shareholders, and if it is accepted by more than one, unless they otherwise agree, each of them shall purchase that number of Shares of the Accepting Shareholders pro rata to the number of shares owned by the Standing Pat Shareholders who accept the offer in the Drag Along Notice. For greater certainty, if there is only one Standing Pat Shareholder who delivers a Notice, such Standing Pat Shareholder shall be required to purchase all of the Shares of the Accepting Shareholders, and if two or more Standing Pat Shareholders accept the offer deemed by the Tag Along Notice, then they shall purchase in such proportions as they may agree or, failing agreement, pro-rata in accordance with number of Shares owned by them.

If the Standing Pat Shareholders do not accept the offer deemed by the Tag Along Notice within the fifteen (15)-day period referred to above in this Section 8(3), then the Standing Pat Shareholder(s) shall be deemed to have accepted the Third Party Offer and shall be required to sell all of their Shares to the Third Party in accordance with the Third Party Offer.

17

		(4)	
Permitted Transfers.

Section 8(1), Section 8(2) and Section 8(3) shall not apply in the event of a transfer of Shares owned by any Shareholder to a Permitted Assign by such Shareholder provided, however, that, as a condition precedent to being registered as a holder of any such Shares following any such transfer, the Permitted Assign shall have executed and delivered an agreement (which agreement shall not constitute a novation without the written agreement of each of the other Parties) whereby such Permitted Assign agrees to assume and be bound by all the obligations of the transferor and be subject to all the restrictions to which the transferor is subject under the terms of this Agreement; and in the case of a Permitted Assign which is a corporation, to retransfer such Shares to the transferor if such corporation shall cease to qualify as a Permitted Assign. Each of the Shareholders agrees that, if the Shares beneficially owned by such Shareholder are transferred to a Permitted Assign of such Shareholder, such Shareholder shall remain bound by the provisions of this Agreement; shall ensure that such Permitted Assign shall continue to qualify as a Permitted Assign for so long as the Permitted Assign beneficially owns, directly or indirectly, such Shares; and shall guarantee to the other Shareholders the performance by the Permitted Assign of all of the obligations of such Permitted Assign under the agreement to be entered into by such Permitted Assign as referred to in this Section 8(4).

		9.	
MANDATORY TRANSFERS OF SHARES

If any Shareholder suffers an Event of Insolvency or commits an Event of Default (in this Section 9 called a “Defaulting Shareholder”), such Defaulting Shareholder or his, her or its legal or personal representatives, as the case may be, shall offer to sell all of the Defaulting Shareholder’s Shares to the other Shareholders in accordance with their Pro Rata Proportions for a purchase price equal to the Fair Market Value of such Shares. Each of the other Shareholders may then, in his, her or its sole discretion, decide, but is not obliged, to purchase such Defaulting Shareholder’s Shares in accordance with their Pro Rata Proportions. In the event that a Shareholder does not purchase a portion of the Defaulting Shareholder’s Shares in accordance with his, her or its Pro Rata Proportions pursuant to this Section 9, then the remaining Shareholders may then, in their sole discretion, decide, but are not obliged, to purchase such outstanding Shares of the Defaulting Shareholder in accordance with their Pro Rata Proportions.

		10.	
THE FAIR MARKET VALUE OF SHARES

The Shareholders shall select by Shareholder Resolution an independent business valuator who is (a) a member of the Canadian Institute of Chartered Business Valuators, and (b) knowledgeable in the industry(ies) of which the Company is then part. The valuator so selected shall determine the fair market value of each Share (excluding any possible minority discount) based on such factors as such valuator deems professionally appropriate or necessary.

		11.	
CLOSING TERMS

(1) Completion. An agreement of purchase and sale constituted under Section 8 of this Agreement shall be completed by a closing at the registered office of the Company on the last Business Day (the “Closing Date”) within the thirty (30)-day period after the occurrence of the last of the series of events that resulted in the transaction of purchase and sale. At the closing,

18

the selling Shareholder shall deliver to the purchasing Shareholder(s) (the “Purchasers”) share certificates representing the Shares to be sold, endorsed in blank for transfer and accompanied by such other documents as counsel for the Purchasers may reasonably require against delivery by the Purchasers to the selling Shareholder of a certified cheque in full amount of such purchase price.

(2) Debts, Guarantees, Nominees. Concurrently with the completion of a transaction of purchase and sale constituted under Section 8 of this Agreement,

		(a)	
the selling Shareholder shall pay to the Company any indebtedness then due and owing by the selling Shareholder to the Company (other than trade debts incurred in the ordinary course of business, which shall remain payable in accordance with their terms);

		(b)	
the Directors shall give such consent to the transfer of the subject Shares as may be required under the articles of incorporation of the Company; and

		(c)	
the selling Shareholder shall resign as a Director, if applicable.

(3) Non-Completion by Defaulting Shareholder. Each Shareholder acknowledges that if it fails to execute or cause to be executed all such agreements and documents as may be necessary under this Agreement, the CBCA, the Articles, the By-laws or otherwise to enable the Shares held by it to be assigned and transferred to a purchasing Shareholder in accordance with the provisions hereof, the purchasing Shareholder shall have the right, if not in default under this Agreement, and without prejudice to any other rights which the purchasing Shareholder may have, upon payment of the purchase price payable to the Defaulting Shareholder in accordance with Section 9, to the credit of the Defaulting Shareholder in the main branch of the Company’s bankers in the City of Toronto, to execute and deliver, on behalf of and in the name of the Defaulting Shareholder, such deeds, transfers, resignations or other documents that may be necessary to complete the sale transaction and to execute and deliver all other agreements and documents as may be necessary to permit the sale of the Defaulting Shareholder’s Shares to be completed as herein provided and reflected on the books of the Company. To that end, each Shareholder hereby irrevocably constitutes and appoints each Party who becomes a purchaser entitled to acquire its Shares under this Agreement as the true and lawful attorney for such Shareholder with full power of substitution in the name of and on behalf of such Shareholder in accordance with the Powers of Attorney Act (Ontario), with no restriction or limitation in that regard and declaring that such power of attorney may be exercised during any subsequent legal incapacity on its part. This power of attorney shall not be revoked or terminated by any act or thing unless this Agreement is terminated or unless such Shareholder ceases to be bound by the provisions hereof.

		12.	
HOLDING CORPORATIONS

(1) Representations and Warranties. Each Principal represents, warrants and covenants that he controls and at all times during the term of this Agreement shall control all of the Corpshareco Shares in the Corporate Shareholder of which he is the shareholder.

19

(2) Issuing of Shares. Subsequent to the execution of this Agreement, no Corporate Shareholder shall issue or allot any Corpshareco Shares or any rights to acquire any Corpshareco Shares of any class in its capital without the prior written consent of the BOD, such approval not to be unreasonably withheld or delayed.

(3) Reorganization. Subsequent to the execution of this Agreement, no Corporate Shareholder shall be amalgamated with any other corporation or dissolved or wound up nor shall any Corporate Shareholder distribute by way of dividend, return of capital or in any other manner any Shares held by such Corporate Shareholder which would result in the Principal thereof ceasing to Control the Shares, without approval of the BOD, such approval not to be unreasonably withheld or delayed.

		13.	
KEY MAN LIFE INSURANCE               [*]

		14.	
NON-COMPETITION/NON-SOLICITATION

(1) Scope of Restrictions. No Shareholder or Principal shall, during the term of this Agreement and for a twenty-four (24)-month period after such party ceases to be a Shareholder or Principal, as the case may be, either alone or in partnership or with any other person, firm or corporation, as principal, agent, shareholder or in any other manner:

		(a)	
carry on or be engaged in or concerned with or interested in, directly or indirectly, advise, lend money to, guarantee the debts or obligations of, permit its name or any part thereof to be used or employed by, any person, firm or corporation engaged in or interested in any business that is directly competitive with the Business;

		(b)	
appropriate or use for the benefit of anyone other than the Company any business opportunity that the Shareholder or Principal or the Company was engaged in investigating, developing, pursuing or negotiating on behalf of the Company at any time up to the termination of this Agreement;

		(c)	
contact, for the purpose of solicitation in connection with any business directly competitive to the Business, any person, firm, corporation or governmental agency that is a customer or supplier of the Company; or

		(d)	
contact any employee or executive of, consultant to, or any individual who was an employee or executive of or consultant to, the Company within the

20

previous six (6) months for the purpose of offering him or her employment with any person, firm or corporation other than the Company.

(2) Permitted Investment. The foregoing provisions shall not prevent any Party from acquiring, as a passive investment, up to 5% of the voting securities of a Person carrying on a business competitive with the Business.

(3) Severability. If any covenant of Section 14(1) is determined to be void or unenforceable in whole or in part, it shall not be deemed to affect or impair the validity of any other covenant thereof.

(4) Acknowledgements. Each party hereby acknowledges that the covenants of Section  14(1) are reasonable and valid. Each party acknowledges that a violation of any of the covenants of Section 15(1) will result in immediate and irreparable damage to the Company and agrees that in the event of such violation the Company or any of the other parties shall, in addition to any other right to relief, be entitled to equitable relief by way of temporary or permanent injunction and to such other relief as any court of competent jurisdiction may deem just and proper.

		15.	
NOTATION ON EACH SHARE CERTIFICATE

Every share certificate issued by the Company shall bear a notation to the effect that the Shares represented by the certificate are subject to the terms of this Agreement.

		16.	
ARBITRATION

(1) Scope. Any and all differences, disputes, claims or controversies arising out of or in any way connected with this Agreement, whether arising before or after the expiration or termination of this Agreement, and including its negotiation, execution, delivery, enforceability, performance, breach, discharge, interpretation and construction, existence, validity and any damages resulting therefrom or the rights, privileges, duties and obligations of the parties under or in relation to this Agreement (including any dispute as to whether an issue is arbitrable) shall be referred to arbitration in accordance with and subject to the provisions of this Section 17 and otherwise in accordance with the rules and procedures of the Arbitration Act (Ontario), as such may be amended or replaced from time to time.

(2) Limitation Period. The right to seek to arbitrate any matter hereunder or to seek any remedy which may have been available pursuant to an arbitration hereunder shall be brought within two (2) years from the date at which the facts giving rise to the subject matter proposed to be arbitrated were known or ought to have been known with reasonable diligence by the party seeking to invoke the arbitration or seeking the remedy.

(3) Applicable Law. This Agreement, including all matters in any way relating to the arbitration(s) applicable hereunder, shall be governed by and interpreted in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein and each of the parties irrevocably attorns to the jurisdiction of the courts of Ontario.

(4) Appointment of Arbitrator. A party desiring arbitration hereunder shall give written notice of arbitration to the other party containing a concise description of the matter submitted

21

for arbitration (“Notice of Arbitration”). Within ten (10) days after a party gives a Notice of Arbitration, the parties shall jointly appoint a single arbitrator (the “Arbitrator”). If the parties fail to appoint an Arbitrator within such time, an Arbitrator shall be designated by a judge of the Ontario Court Superior Court of Justice upon application by either party.

(5) Powers of Arbitrator. The Arbitrator may determine all questions of law, fact and jurisdiction with respect to the dispute or the arbitration (including questions as to whether a dispute is arbitrable) and all matters of procedure relating to the arbitration. The Arbitrator may grant legal and equitable relief (including injunctive relief), award costs (including legal fees and the costs of the arbitration), and award interest and, without limiting the generality of the foregoing or the Arbitrator’s jurisdiction at law, may:

		(a)	
determine any question of good faith, dishonesty or fraud arising in the dispute;

		(b)	
order any party to furnish further details of that party’s cause, in fact or in law;

		(c)	
proceed in the arbitration notwithstanding the failure or refusal of any party to comply with the applicable rules or with the Arbitrator’s orders or directions, or to attend any meeting or hearing, but only after giving that party written notice that the Arbitrator intends to do so;

		(d)	
receive and take into account written or oral evidence tendered by the parties that the Arbitrator determines is relevant, whether or not strictly admissible in law;

		(e)	
make one or more interlocutory determinations and/or interim awards;

		(f)	
hold meetings and hearings, and make a decision (including a final decision) in Ontario (or elsewhere with the concurrence of the parties to the arbitration);

		(g)	
order the parties to produce to the Arbitrator, and to each other for inspection, and to supply copies of, any documents or classes of documents in their possession or power that the Arbitrator determines to be relevant;

		(h)	
order the preservation, storage, sale or other disposal of any property or thing under the control of any of the parties; and

		(i)	
make interim orders to secure all or part of any amount in dispute in the arbitration.

(6) Arbitration Procedure. The arbitration shall take place in the Municipality of Metropolitan Toronto at such place therein and time as the Arbitrator may fix. The arbitration shall be conducted in English. Within twenty (20) days of the appointment of the Arbitrator, the parties shall either agree on the procedure to be followed for the arbitration or the Arbitrator shall determine the appropriate procedure, in accordance with the principles of natural justice, to be followed. It is agreed that the arbitration and all matters arising directly or indirectly (including

22

all documents exchanged, the evidence and the award) shall be kept strictly confidential by the parties and shall not be disclosed to any third party except as may be compelled by law.

(7)  Arbitrator’s Decision. The Arbitrator shall make every reasonable effort to make his or her determination in writing no later than twenty (20) Business Days after hearing the representations and evidence of the parties, and if the determination is made in writing the Arbitrator shall deliver one copy thereof to each of the parties. The decision of the Arbitrator shall be final and binding upon the parties in respect of all matters relating to the arbitration, the conduct of the parties during the proceedings, and the final determination of the issues in the arbitration.

(8) Awards and Appeal. Any party to any arbitration hereunder may appeal any determination of the Arbitrator to any court having jurisdiction thereof. Judgment upon any award rendered by the Arbitrator may be entered in any court having jurisdiction thereof.

(9) Costs of Arbitration. The costs of any arbitration hereunder shall be borne by the parties in the manner specified by the Arbitrator in his or her determination.

(10) Condition Precedent. Submission to arbitration under this Section 17 is intended by the parties to preclude any action in matters, which may be arbitrated hereunder, save and except for enforcement of any arbitral award hereunder.

		17.	
GENERAL

(1) Duration and Amendment. This Agreement shall continue in force (i) unless terminated earlier by the parties, or (ii) until the completion of a Public Offering, whichever is earlier. No amendment of this Agreement shall be binding unless it is in writing and signed by Shareholders holding not less than seventy-five percent (75%) of all of the Shares on a fully diluted basis, provided that if such amendment proposes to amend Section 2(4), such amendment will not be binding unless it is signed by at least one (1) of the Triggering Equity Financing Investors.

(2) Action. Each party shall at all times during the currency of this Agreement execute and deliver, and cause to be executed and delivered, such documents and take, and cause to be taken, such action, as may be necessary or appropriate to give effect to the provisions of this Agreement.

(3) Time. Time shall be of the essence of this Agreement.

(4) Default and Waiver. A party’s failure at any time to require performance of any provision by any other party shall not affect the right of the first party to require such performance at any later time. A party’s waiver of a breach of any provision by any other party shall not constitute a waiver by the first party of the provision for any succeeding breach by such other party.

(5) Notice. Any notice or other communication required or permitted under this Agreement shall be in writing and may be delivered personally, by email, fax or by prepaid registered or certified mail, addressed in the case of the Company and each shareholder, as set out in attached Schedule “B”, or to such other address as the addressee may have specified by a notice given

23

under this provision. Any such notice or other communication, if delivered or mailed, shall be deemed to have been given when received and, if faxed, shall be deemed to have been given on the first (1st) Business Day after the day it was faxed.

(6) Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter, supersedes all prior representations, negotiations and understandings and may not be amended except in writing signed by all parties.

(7) Severability. Any provision that is illegal, invalid or unenforceable shall be severable  and shall not affect the remaining provisions of this Agreement.

(8) Headings. The headings in this Agreement do not affect its interpretation.

(9) No Assignment. Except as provided in Section 12(4), this Agreement may not be assigned by a party without the written consent of the others and shall enure to the benefit of and be binding upon the parties and their respective successors and permitted assigns.

(10) Adoption. This Agreement shall be executed by any person, firm or corporation that  shall from time to time become an owner or holder of Shares by signing a counterpart hereof in accordance with Schedule “C” hereto. Each of such counterparts so executed shall be deemed to be an original, and such counterparts together shall constitute a single instrument. No person, firm or corporation shall become an owner or holder of Shares without having first executed a counterpart of this Agreement in accordance with Schedule “C”.

(11) Counterparts and Electronic Transmission. For further clarity, this Agreement and all documents contemplated by or delivered under or in connection with this Agreement may be executed and delivered in any number of counterparts, with the same effect as if all parties had signed and delivered the same document, and all counterparts (including any counterparts transmitted by fax, e-mail or other means of electronic transmission) shall be construed together to be an original and will constitute one and the same agreement.

[Remainder of Page Left Intentionally Blank – Signature Page to Follow]

IN WITNESS WHEREOF the undersigned parties  hereto  have executed  and  delivered this Agreement as of the date first above written.

 

 

 

 

SCHEDULE “A”

GONUMERICAL LTD. ISSUED SHARE CAPITAL

	
Name

	
Issued Share Capital

	
Virgile Rostand

	
10,000,000 Common Shares

	
Cole Diamond

	
2,500,000 Common Shares

	
Michael Diamond

	
2,765,168 Common Shares

	
Robert Furse

	
375,092 Common Shares

	
Jazse Holdings Inc.

	
265,168 Common Shares

	
Tread Lightly, LLC

	
265,168 Common Shares

	
TWG Startup Investment 2 Corp.

	
300,018 Common Shares

	
Bioptix Inc

	
2,249,985 Common Shares

	
2330573 Ontario Inc

	
918,745 Common Shares

	
Jeff Cordeiro

	
11,250 Common Shares

	
Peter Simeon

	
15,000 Common Shares

	
Eduardo Vivas

	
149,999 Common Shares

	
Argyle LLC

	
149,999 Common Shares

	
Eric So

	
93,749 Common Shares

	
Ross Levinsohn

	
37,500 Common Shares

	
Sean Lai

	
11,250 Common Shares

	
Michael Brauser

	
112,499 Common Shares

	
Barry Honig

	
112,499 Common Shares

	
GRQ Consultants Inc Roth 401K FBO Barry Honig

	
75,000 Common Shares

	
Erica and Mark Groussman Foundation

	
37,500 Common Shares

	
Titan Multi-Strategy Fund I, Ltd.

	
75,000 Common Shares

	
Stetson Capital Investments Inc.

	
37,500 Common Shares

	
Kent Farrell

	
37,500 Common Shares

SCHEDULE “B” ADDRESSES FOR NOTICES

If to the Company at:

1903-438 King Street West Toronto, ON M5V 3T9 Canada

If to Cole at:

181 Dewbourne Avenue Toronto, ON M6C 1Z6 Canada

If to Michael at:

305-80 Yorkville Avenue Toronto, ON M5R 2C2 Canada

If to Virgile at:

1903-438 King Street West Toronto, ON M5V 3T9 Canada

If to Robert at:

266 Lonsdale Road

Toronto, ON M4V 1X1

If to Jazse at:

30 St. Clair Avenue West, Suite 900 Toronto, ON M4V 3A1 Canada

If to Tread at:

P.O. Box 7149

Scarborough, ME 04074 Canada

B-1

If to TWG at:

425 Adelaide Street West, Suite 300 Toronto, ON M5V 3C1

If to Bioptix at:

808 Solar Isle Dr, Fort Lauderdale, FL 33301 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to 233 at:

120 East Beaver Creek Road, Suite 200, Richmond Hill, ON L4B 4V1 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to Jeff at:

5748 Lago Del Sol Dr, Lake Worth, FL, USA 33449 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com

B-2

If to Peter at:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

If to Eduardo at:

341 Filbert St, San Francisco, CA 94133 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to Argyle at:

7440 N Illinois St, Indianapolis, IN 46260 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to Eric at:

2 Dimarino Dr, Maple, ON L6A 0E1 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com

B-3

If to Ross at:

16100 Anoka Dr, Pacific Palisades, CA 90272 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to Sean at:

149 Stalmaster Road, Markham, ON L6E 0A1 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to Michael at:

3164 NE 31st Ave, Lighthouse Point, FL 33064 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to Barry at:

555 S. Federal Hwy #450, Boca Raton, FL 33432 with a copy to:

B-4

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to GRQ at:

555 S. Federal Hwy #450, Boca Raton, FL 33432 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to Groussman Foundation at:

5154 La Gorce Dr, Miami Beach, FL 33140 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to Titan at:

5825 Windsor Court, Boca Raton, FL 33496 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com

B-5

If to Stetson at:

68 Fiesta Way, Fort Lauderdale, FL 33301 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com If to Kent at:

29 Aberdeen Avenue, Toronto, Ontario, Canada, M4X 1A1 with a copy to:

Gowling WLG (Canada) LLP 100 King St. West, Suite 1600 Toronto, ON M5X 1G5

Attention: Peter Simeon

Email: peter.simeon@gowlingwlg.com

B-6

SCHEDULE C

 

ADOPTION AGREEMENT

THIS INSTRUMENT forms part of the Shareholders Agreement dated __________________ between GONUMERICAL LTD. and all of its shareholders (the “Agreement”), which Agreement permits execution by counterpart. The undersigned hereby acknowledges having received a copy of the Agreement (which is annexed hereto as Exhibit “A”) and having read the Agreement in its entirety and for good and valuable consideration, receipt and sufficiency of which is hereby acknowledged, hereby agrees that the terms and conditions of the said Agreement shall be binding upon the undersigned and such conditions shall enure to the benefit of and be binding upon the undersigned’s heirs, executors, administrators, successors and  assigns.

IN WITNESS WHEREOF the undersigned has executed this instrument this day of ________________, 20 .

________________________

[Signature of Beneficial Owner]

 

SCHEDULE C

 

TEMPORARILY FROZEN EXECUTIVE COMPENSATION

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