Document:

Exhibit 10.18

 

VOLTUS, INC. 

 

2016 EQUITY INCENTIVE PLAN

 

1. Purpose.

 

 The purpose of the Plan
is to advance the interests of the Company’s stockholders by enhancing the Company’s ability to attract, retain and motivate
persons who make (or are expected to make) important contributions to the Company by providing such persons with equity ownership opportunities
and thereby better aligning the interests of such persons with those of the Company’s stockholders. Capitalized terms used in the
Plan are defined in Section 11 below.

 

2. Eligibility.

 

 Service Providers are
eligible to be granted Awards under the Plan, subject to the limitations described herein.

 

3. Administration
and Delegation. 

 

3.1 Administration.
The Plan will be administered by the Administrator. The Administrator shall have authority to determine which Service Providers will
receive Awards, to grant Awards and to set all terms and conditions of Awards (including, but not limited to, vesting, exercise and forfeiture
provisions). In addition, the Administrator shall have the authority to take all actions and make all determinations contemplated by the
Plan and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem advisable.
The Administrator may correct any defect or ambiguity, supply any omission or reconcile any inconsistency in the Plan or any Award in
the manner and to the extent it shall deem necessary or appropriate to carry the Plan and any Awards into effect, as determined by the
Administrator. The Administrator shall make all determinations under the Plan in the Administrator’s sole discretion and all such
determinations shall be final and binding on all persons having or claiming any interest in the Plan or in any Award.

 

3.2 Appointment
of Committees. To the extent permitted by Applicable Laws, the Board may delegate any or all of its powers under the Plan to
one or more Committees. The Board may abolish any Committee at any time and re-vest in itself any previously delegated authority.

 

4. Stock
Available for Awards.

 

4.1 Number
of Shares. Subject to adjustment under Section 8 hereof, Awards may be made under the Plan covering up to 1,810,000 shares
of Common Stock. If any Award expires or lapses or is terminated, surrendered or canceled without having been fully exercised or is forfeited
in whole or in part (including as the result of shares of Common Stock subject to such Award being repurchased by the Company at or below
the original issuance price), in any case in a manner that results in any shares of Common Stock covered by such Award not being issued
or being so reacquired by the Company, the unused Common Stock covered by such Award shall again be available for the grant of Awards
under the Plan. Further, shares of Common Stock delivered (either by actual delivery or attestation) to the Company by a Participant to
satisfy the applicable exercise or purchase price of an Award and/or to satisfy any applicable tax withholding obligation (including shares
retained by the Company from the Award being exercised or purchased and/or creating the tax obligation) shall be added to the number of
shares of Common Stock available for the grant of Awards under the Plan. However, in the case of Incentive Stock Options (as hereinafter
defined), the foregoing provisions shall be subject to any limitations under the Code. Shares of Common Stock issued under the Plan may
consist in whole or in part of authorized but unissued shares, shares purchased on the open market or treasury shares.

 

     

     

    

 

4.2 Substitute
Awards. In connection with a merger or consolidation of an entity with the Company or the acquisition by the Company of property or
stock of an entity, the Administrator may grant Awards in substitution for any options or other stock or stock-based awards granted prior
to such merger or consolidation by such entity or an affiliate thereof. Substitute Awards may be granted on such terms as the Administrator
deems appropriate in the circumstances, notwithstanding any limitations on Awards contained in the Plan. Substitute Awards shall not count
against the overall share limit set forth in Section 4.1 hereof, except as may be required by reason of Section 422 of the Code.

 

5. Stock
Options. 

 

5.1 General.
The Administrator may grant Options to any Service Provider, subject to the limitations on Incentive Stock Options described below.
The Administrator shall determine the number of shares of Common Stock to be covered by each Option, the exercise price of each Option
and the conditions and limitations applicable to the exercise of each Option, including conditions relating to Applicable Laws, as it
considers necessary or advisable.

 

5.2 Incentive
Stock Options. The Administrator may grant Options intended to qualify as Incentive Stock Options only to employees of the
Company, any of the Company’s present or future “parent corporations” or “subsidiary corporations” as defined
in Sections 424(e) or (f) of the Code, respectively, and any other entities the employees of which are eligible to receive Incentive Stock
Options under the Code. All Options intended to qualify as Incentive Stock Options shall be subject to and shall be construed consistently
with the requirements of Section 422 of the Code. Neither the Company nor the Administrator shall have any liability to a Participant,
or any other party, (i) if an Option (or any part thereof) which is intended to qualify as an Incentive Stock Option fails to qualify
as an Incentive Stock Option or (ii) for any action or omission by the Administrator that causes an Option not to qualify as an Incentive
Stock Option, including without limitation, the conversion of an Incentive Stock Option to a Non-Qualified Stock Option or the grant of
an Option intended as an Incentive Stock Option that fails to satisfy the requirements under the Code applicable to an Incentive Stock
Option. Any Option that is intended to qualify as an Incentive Stock Option, but fails to so qualify for any reason, including without
limitation, the portion of any Option becoming exercisable in excess of the $100,000 limitation described in Treasury Regulation Section
1.422-4, shall be treated as a Non-Qualified Stock Option for all purposes.

 

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5.3 Exercise
Price. The Administrator shall establish the exercise price of each Option and specify the exercise price in the applicable
Award Agreement. The exercise price shall be not less than 100% of the Fair Market Value on the date the Option is granted. In the case
of an Incentive Stock Option granted to an employee who, at the time of grant of the Option, owns (or is treated as owning under Section
424 of the Code) stock representing more than 10% of the voting power of all classes of stock of the Company (or a “parent corporation”
or “subsidiary corporation” thereof within the meaning of Sections 424(e) or 424(f) of the Code, respectively), the per share
exercise price shall be no less than 110% of the Fair Market Value on the date the Option is granted.

 

5.4 Duration
of Options. Each Option shall be exercisable at such times and subject to such terms and conditions as the Administrator may
specify in the applicable Award Agreement, provided that the term of any Option shall not exceed ten years. In the case of an Incentive
Stock Option granted to an employee who, at the time of grant of the Option, owns (or is treated as owning under Section 424 of the Code)
stock representing more than 10% of the voting power of all classes of stock of the Company (or a “parent corporation” or
“subsidiary corporation” thereof within the meaning of Sections 424(e) or 424(f) of the Code, respectively), the term of the
Option shall not exceed five years.

 

5.5 Exercise
of Option; Notification of Disposition. Options may be exercised by delivery to the Company of a written notice of exercise,
in a form approved by the Administrator (which may be an electronic form), signed by the person authorized to exercise the Option, together
with payment in full (i) as specified in Section 5.6 hereof for the number of shares for which the Option is exercised and (ii) as
specified in Section 9.5 hereof for any applicable withholding taxes. Unless otherwise determined by the Administrator, an Option may
not be exercised for a fraction of a share of Common Stock. If an Option is designated as an Incentive Stock Option, the Participant shall
give prompt notice to the Company of any disposition or other transfer of any shares of Common Stock acquired from the Option if such
disposition or transfer is made (i) within two years from the grant date with respect to such Option or (ii) within one year after the
transfer of such shares to the Participant (other than any such disposition made in connection with a Change in Control). Such notice
shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness
or other consideration, by the Participant in such disposition or other transfer.

 

5.6 Payment
Upon Exercise. Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for in cash or by
check, payable to the order of the Company, or, to the extent permitted by the Administrator, by:

 

(a) (A)
delivery of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient
funds to pay the exercise price and any required tax withholding, or (B) delivery by the Participant to the Company of a copy of irrevocable
and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to
pay the exercise price and any required tax withholding;

 

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(b) delivery
(either by actual delivery or attestation) of shares of Common Stock owned by the Participant valued at their Fair Market Value, provided
(A) such method of payment is then permitted under Applicable Laws, (B) such Common Stock, if acquired directly from the Company, was
owned by the Participant for such minimum period of time, if any, as may be established by the Company at any time, and (C) such Common
Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;

 

(c) surrendering
shares of Common Stock then issuable upon exercise of the Option valued at their Fair Market Value on the date of exercise;

 

(d) delivery
of a promissory note of the Participant to the Company on terms determined by the Administrator;

 

(e) delivery
of property of any other kind which constitutes good and valuable consideration as determined by the Administrator; or

 

(f) any
combination of the above permitted forms of payment (including cash or check).

 

5.7 Early
Exercise of Options. The Administrator may provide in the terms of an Award Agreement that the Service Provider may exercise an Option
in whole or in part prior to the full vesting of the Option in exchange for unvested shares of Restricted Stock with respect to any unvested
portion of the Option so exercised. Shares of Restricted Stock acquired upon the exercise of any unvested portion of an Option shall be
subject to such terms and conditions as the Administrator shall determine.

 

6. Restricted
Stock; Restricted Stock Units.

 

6.1 General.
The Administrator may grant Restricted Stock, or the right to purchase Restricted Stock, to any Service Provider, subject to the right
of the Company to repurchase all or part of such shares at their issue price or other stated or formula price from the Participant (or
to require forfeiture of such shares if issued at no cost) in the event that conditions specified by the Administrator in the applicable
Award Agreement are not satisfied prior to the end of the applicable restriction period or periods established by the Administrator for
such Award. In addition, the Administrator may grant to Service Providers Restricted Stock Units, which may be subject to vesting and
forfeiture conditions during applicable restriction period or periods, as set forth in an applicable Award Agreement.

 

6.2  Terms
and Conditions for All Restricted Stock and Restricted Stock Unit Awards. The Administrator shall determine and set forth in the applicable
Award Agreement the terms and conditions applicable to each Restricted Stock and Restricted Stock Unit Award, including the conditions
for vesting and repurchase (or forfeiture) and the issue price, in each case, if any. 

 

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6.3 Additional
Provisions Relating to Restricted Stock. 

 

(a) Dividends.
Participants holding shares of Restricted Stock will be entitled to all ordinary cash dividends paid with respect to such shares to the
extent such dividends have a record date that is on or after the date on which the Participant to whom such Restricted Shares are granted
becomes the record holder of such Restricted Shares, unless otherwise provided by the Administrator in the applicable Award Agreement.
In addition, unless otherwise provided by the Administrator, if any dividends or distributions are paid in shares, or consist of a dividend
or distribution to holders of Common Stock of property other than an ordinary cash dividend, the shares or other property will be subject
to the same restrictions on transferability and forfeitability as the shares of Restricted Stock with respect to which they were paid.
Each dividend payment will be made as provided in the applicable Award Agreement, but in no event later than the end of the calendar year
in which the dividends are paid to stockholders of that class of stock or, if later, the 15th day of the third month following the later
of (A) the date the dividends are paid to stockholders of that class of stock, and (B) the date the dividends are no longer subject to
forfeiture.

 

(b) Stock
Certificates. The Company may require that any stock certificates issued in respect of shares of Restricted Stock be deposited in
escrow by the Participant, together with a stock power endorsed in blank, with the Company (or its designee).

 

6.4 Additional
Provisions Relating to Restricted Stock Units.

 

(a) Settlement.
Upon the vesting of a Restricted Stock Unit, the Participant shall be entitled to receive from the Company one share of Common Stock or
an amount of cash or other property equal to the Fair Market Value of one share of Common Stock on the settlement date, as the Administrator
shall determine and as provided in the applicable Award Agreement. The Administrator may provide that settlement of Restricted Stock Units
shall occur upon or as soon as reasonably practicable after the vesting of the Restricted Stock Units or shall instead be deferred, on
a mandatory basis or at the election of the Participant, in a manner that complies with Section 409A. 

 

(b) Voting
Rights. A Participant shall have no voting rights with respect to any Restricted Stock Units unless and until shares are delivered
in settlement thereof. 

 

(c) Dividend
Equivalents. To the extent provided by the Administrator, a grant of Restricted Stock Units may provide a Participant with the right
to receive Dividend Equivalents. Dividend Equivalents may be paid currently or credited to an account for the Participant, may be settled
in cash and/or shares of Common Stock and may be subject to the same restrictions on transfer and forfeitability as the Restricted Stock
Units with respect to which the Dividend Equivalents are paid, as determined by the Administrator, subject, in each case, to such terms
and conditions as the Administrator shall establish and set forth in the applicable Award Agreement.

 

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7. Other
Stock-Based Awards.

 

 Other Stock-Based Awards
may be granted hereunder to Participants, including, without limitation, Awards entitling Participants to receive shares of Common Stock
to be delivered in the future. Such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards
granted under the Plan, as stand-alone payments and/or as payment in lieu of compensation to which a Participant is otherwise entitled.
Other Stock-Based Awards may be paid in shares of Common Stock, cash or other property, as the Administrator shall determine. Subject
to the provisions of the Plan, the Administrator shall determine the terms and conditions of each Other Stock-Based Award, including any
purchase price, transfer restrictions, vesting conditions and other terms and conditions applicable thereto, which shall be set forth
in the applicable Award Agreement.

 

8. Adjustments
for Changes in Common Stock and Certain Other Events.

 

8.1 In
the event that the Administrator determines that any dividend or other distribution (whether in the form of cash, Common Stock, other
securities, or other property), reorganization, merger, consolidation, combination, repurchase, recapitalization, liquidation, dissolution,
or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, or sale or exchange of Common
Stock or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or other securities of the Company,
or other similar corporate transaction or event, as determined by the Administrator, affects the Common Stock such that an adjustment
is determined by the Administrator to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits
intended by the Company to be made available under the Plan or with respect to any Award, then the Administrator may, in such manner as
it may deem equitable, adjust any or all of:

 

(a) the
number and kind of shares of Common Stock (or other securities or property) with respect to which Awards may be granted or awarded (including,
but not limited to, adjustments of the limitations in Section 4 hereof on the maximum number and kind of shares which may be issued);

 

(b) the
number and kind of shares of Common Stock (or other securities or property) subject to outstanding Awards;

 

(c) the
grant or exercise price with respect to any Award; and

 

(d) the
terms and conditions of any Awards (including, without limitation, any applicable financial or other performance “targets”
specified in an Award Agreement).

 

8.2 In
the event of any transaction or event described in Section 8.1 hereof (including without limitation any Change in Control) or any unusual
or nonrecurring transaction or event affecting the Company or the financial statements of the Company, or any change in any Applicable
Laws or accounting principles, the Administrator, on such terms and conditions as it deems appropriate, either by the terms of the Award
or by action taken prior to the occurrence of such transaction or event and either automatically or upon the Participant’s request,
is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such action is appropriate
in order to (x) prevent dilution or enlargement of the benefits or potential benefits intended by the Company to be made available
under the Plan or with respect to any Award granted or issued under the Plan, (y) to facilitate such transaction or event or (z) give
effect to such changes in Applicable Laws or accounting principles: 

 

(a) To
provide for the cancellation of any such Award in exchange for either an amount of cash or other property with a value equal to the amount
that could have been obtained upon the exercise or settlement of the vested portion of such Award or realization of the Participant’s
rights under the vested portion of such Award, as applicable; provided that, if the amount that could have been obtained upon the
exercise or settlement of the vested portion of such Award or realization of the Participant’s rights, in any case, is equal to
or less than zero, then the vested portion of such Award may be terminated without payment;

 

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(b) To
provide that such Award shall vest and, to the extent applicable, be exercisable as to all shares covered thereby, notwithstanding anything
to the contrary in the Plan or the provisions of such Award;

 

(c) To
provide that such Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted
for by awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments
as to the number and kind of shares and applicable exercise or purchase price, in all cases, as determined by the Administrator;

 

(d) To
make adjustments in the number and type of shares of Common Stock (or other securities or property) subject to outstanding Awards, and/or
in the terms and conditions of (including the grant or exercise price), and the criteria included in, outstanding Awards which may be
granted in the future;

 

(e) To
replace such Award with other rights or property selected by the Administrator; and/or

 

(f) To
provide that the Award will terminate and cannot vest, be exercised or become payable after the applicable event.

 

8.3 Notwithstanding
the provisions of Section 8.2 above, if a Change in Control occurs and a Participant’s Awards are not continued, converted, assumed,
or replaced with a substantially similar award by (i) the Company, or (ii) a successor entity or its parent or subsidiary (an “Assumption”),
and provided that the Participant has not had a Termination of Service, then immediately prior to the Change in Control such Awards
shall become fully vested, exercisable and/or payable, as applicable, and all forfeiture, repurchase and other restrictions on such Awards
shall lapse, in which case, such Awards shall be canceled upon the consummation of the Change in Control in exchange for the right to
receive the Change in Control consideration payable to other holders of Common Stock (A) which may be on such terms and conditions as
apply generally to holders of Common Stock under the Change in Control documents (including, without limitation, any escrow, earn-out
or other deferred consideration provisions) or such other terms and conditions as the Administrator may provide, and (B) determined by
reference to the number of shares subject to such Awards and net of any applicable exercise price; provided that to the extent
that any Awards constitute “nonqualified deferred compensation” that may not be paid upon the Change in Control under Section
409A without the imposition of taxes thereon under Section 409A, the timing of such payments shall be governed by the applicable Award
Agreement (subject to any deferred consideration provisions applicable under the Change in Control documents); and provided, further,
that if the amount to which a Participant would be entitled upon the settlement or exercise of such Award at the time of the Change in
Control is equal to or less than zero, then such Award may be terminated without payment. The Administrator shall determine whether an
Assumption of an Award has occurred in connection with a Change in Control.

 

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8.4 In
connection with the occurrence of any Equity Restructuring, and notwithstanding anything to the contrary in this Section 8, the Administrator
will equitably adjust each outstanding Award, which adjustments may include adjustments to the number and type of securities subject to
each outstanding Award and/or the exercise price or grant price thereof, if applicable, the grant of new Awards to Participants, and/or
the making of a cash payment to Participants, as the Administrator deems appropriate to reflect such Equity Restructuring. The adjustments
provided under this Section 8.4 shall be nondiscretionary and shall be final and binding on the affected Participant and the Company;
provided that whether an adjustment is equitable shall be determined by the Administrator.

 

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

 

8.6 Except
as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no Participant shall have any rights by reason
of any subdivision or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number
of shares of stock of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except
as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares of stock
of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be
made with respect to, the number of shares of Common Stock subject to an Award or the grant or exercise price of any Award. The existence
of the Plan, any Award Agreements and the Awards granted hereunder shall not affect or restrict in any way the right or power of the Company
to make or authorize (i) any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or
its business, (ii) any merger, consolidation dissolution or liquidation of the Company or sale of Company assets or (iii) any sale or
issuance of securities, including without limitation, securities with rights superior to those of the Common Stock or which are convertible
into or exchangeable for Common Stock. The Administrator may treat Participants and Awards (or portions thereof) differently under this
Section 8.

 

9. General
Provisions Applicable to Awards. 

 

9.1 Transferability.
Except as the Administrator may otherwise determine or provide in an Award Agreement or otherwise, in any case in accordance with
Applicable Laws, Awards shall not be sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted,
either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the life of the Participant,
shall be exercisable only by the Participant. References to a Participant, to the extent relevant in the context, shall include references
to authorized transferees.

 

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9.2 Documentation.
Each Award shall be evidenced in an Award Agreement, which may be in such form (written, electronic or otherwise) as the Administrator
shall determine. Each Award may contain terms and conditions in addition to those set forth in the Plan.

 

9.3 Discretion.
Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to any other Award. The terms
of each Award to a Participant need not be identical, and the Administrator need not treat Participants or Awards (or portions thereof)
uniformly.

 

9.4 Termination
of Status. The Administrator shall determine the effect on an Award of the disability, death, retirement, authorized leave
of absence or any other change or purported change in a Participant’s Service Provider status and the extent to which, and the period
during which, the Participant, the Participant’s legal representative, conservator, guardian or Designated Beneficiary may exercise
rights under the Award, if applicable.

 

9.5 Withholding.
Each Participant shall pay to the Company, or make provision satisfactory to the Administrator for payment of, any taxes required
by law to be withheld in connection with Awards to such Participant no later than the date of the event creating the tax liability. Except
as the Administrator may otherwise determine, all such payments shall be made in cash or by certified check. Notwithstanding the foregoing,
to the extent permitted by the Administrator, Participants may satisfy such tax obligations in whole or in part by delivery of shares
of Common Stock, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value. The Company
may, to the extent permitted by Applicable Laws, deduct any such tax obligations from any payment of any kind otherwise due to a Participant.

 

9.6 Amendment
of Award. The Administrator may amend, modify or terminate any outstanding Award, including but not limited to, substituting
therefor another Award of the same or a different type, changing the date of exercise or settlement, and converting an Incentive Stock
Option to a Non-Qualified Stock Option. The Participant’s consent to such action shall be required unless (i) the Administrator
determines that the action, taking into account any related action, would not materially and adversely affect the Participant, or (ii)
the change is permitted under Section 8 and 10.6 hereof.

 

9.7 Conditions
on Delivery of Stock. The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to remove
restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to the
satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters in connection with the issuance
and delivery of such shares have been satisfied, including any applicable securities laws and any applicable stock exchange or stock market
rules and regulations, and (iii) the Participant has executed and delivered to the Company such representations or agreements as
the Administrator deems necessary or appropriate to satisfy the requirements of any Applicable Laws. The inability of the Company to obtain
authority from any regulatory body having jurisdiction, which authority is determined by the Administrator to be necessary to the lawful
issuance and sale of any securities hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such
shares as to which such requisite authority shall not have been obtained.

 

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9.8 Acceleration.
The Administrator may at any time provide that any Award shall become immediately vested and/or exercisable in full or in part, free
of some or all restrictions or conditions, or otherwise realizable in full or in part, as the case may be.

 

10. Miscellaneous.

 

10.1 No
Right To Employment or Other Status. No person shall have any claim or right to be granted an Award, and the grant of an Award
shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company
expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any liability
or claim under the Plan or any Award, except as expressly provided in an applicable Award Agreement.

 

10.2 No
Rights As Stockholder; Certificates. Subject to the provisions of the applicable Award Agreement, no Participant or Designated
Beneficiary shall have any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award
until becoming the record holder of such shares. Notwithstanding any other provision of the Plan, unless otherwise determined by the Administrator
or required by any Applicable Laws, the Company shall not be required to deliver to any Participant certificates evidencing shares of
Common Stock issued in connection with any Award and instead such shares of Common Stock may be recorded in the books of the Company (or,
as applicable, its transfer agent or stock plan administrator). The Company may place legends on any stock certificates issued under the
Plan deemed necessary or appropriate by the Administrator in order to comply with Applicable Laws.

 

10.3 Effective
Date and Term of Plan. The Plan shall become effective on the date on which it is adopted by the Board. No Awards shall be
granted under the Plan after the completion of ten years from the earlier of (i) the date on which the Plan was adopted by the Board
or (ii) the date the Plan was approved by the Company’s stockholders, but Awards previously granted may extend beyond that
date in accordance with the terms of the Plan.

 

10.4 Amendment
of Plan. The Administrator may amend, suspend or terminate the Plan or any portion thereof at any time; provided that
no amendment of the Plan shall materially and adversely affect any Award outstanding at the time of such amendment without the consent
of the affected Participant. Awards outstanding under the Plan at the time of any suspension or termination of the Plan shall continue
to be governed in accordance with the terms of the Plan and the applicable Award Agreement, as in effect prior to such suspension or termination.
The Board shall obtain stockholder approval of any Plan amendment to the extent necessary to comply with Applicable Laws.

 

10.5 Provisions
for Foreign Participants. The Administrator may modify Awards granted to Participants who are foreign nationals or employed outside
the United States or establish subplans or procedures under the Plan to address differences in laws, rules, regulations or customs of
such foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters.

 

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10.6 Section
409A.

 

(a) General.
The Company intends that all Awards be structured in compliance with, or to satisfy an exemption from, Section 409A, such that no adverse
tax consequences, interest, or penalties under Section 409A apply in connection with any Awards. Notwithstanding anything herein or in
any Award Agreement to the contrary, the Administrator may, without a Participant’s prior consent, amend this Plan and/or Awards,
adopt policies and procedures, or take any other actions (including amendments, policies, procedures and actions with retroactive effect)
as are necessary or appropriate to preserve the intended tax treatment of Awards under the Plan, including without limitation, any such
actions intended to (A) exempt this Plan and/or any Award from the application of Section 409A, and/or (B) comply with
the requirements of Section 409A, including without limitation any such regulations, guidance, compliance programs and other interpretative
authority that may be issued after the date of grant of any Award. The Company makes no representations or warranties as to the tax treatment
of any Award under Section 409A or otherwise. The Company shall have no obligation under this Section 10.6 or otherwise to take any action
(whether or not described herein) to avoid the imposition of taxes, penalties or interest under Section 409A with respect to any Award
and shall have no liability to any Participant or any other person if any Award, compensation or other benefits under the Plan are determined
to constitute non-compliant, “nonqualified deferred compensation” subject to the imposition of taxes, penalties and/or interest
under Section 409A.

 

(b) Separation
from Service. With respect to any Award that constitutes “nonqualified deferred compensation” under Section 409A, any
payment or settlement of such Award that is to be made upon a termination of a Participant’s Service Provider relationship shall,
to the extent necessary to avoid the imposition of taxes under Section 409A, be made only upon the Participant’s “separation
from service” (within the meaning of Section 409A), whether such “separation from service” occurs upon or subsequent
to the termination of the Participant’s Service Provider relationship. For purposes of any such provision of this Plan or any Award
Agreement relating to any such payments or benefits, references to a “termination,” “termination of employment”
or like terms shall mean “separation from service.”

 

(c) Payments
to Specified Employees. Notwithstanding any contrary provision in the Plan or any Award Agreement, any payment(s) of “nonqualified
deferred compensation” that are otherwise required to be made under an Award to a “specified employee” (as defined under
Section 409A and determined by the Administrator) as a result of his or her “separation from service” shall, to the extent
necessary to avoid the imposition of taxes under Code Section 409A(a)(2)(B)(i), be delayed until the expiration of the six-month period
immediately following such “separation from service” (or, if earlier, until the date of death of the specified employee) and
shall instead be paid (in a manner set forth in the Award agreement) on the day that immediately follows the end of such six-month period
or as soon as administratively practicable thereafter (without interest). Any payments of “nonqualified deferred compensation”
under such Award that are, by their terms, payable more than six months following the Participant’s “separation from service”
shall be paid at the time or times such payments are otherwise scheduled to be made.

 

    11

     

    

 

10.7 Limitations
on Liability. Notwithstanding any other provisions of the Plan, no individual acting as a director, officer, other employee or agent
of the Company will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability,
or expense incurred in connection with the Plan or any Award, nor will such individual be personally liable with respect to the Plan because
of any contract or other instrument he or she executes in his or her capacity as an Administrator, director, officer, other employee or
agent of the Company. The Company will indemnify and hold harmless each director, officer, other employee and agent of the Company to
whom any duty or power relating to the administration or interpretation of the Plan has been or will be granted or delegated, against
any cost or expense (including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Administrator’s
approval) arising out of any act or omission to act concerning this Plan unless arising out of such person’s own fraud or bad faith. 

 

10.8 Lock-Up
Period. The Company may, at the request of any representative of the underwriters or otherwise, in connection with any registration
of the offering of any securities of the Company under the Securities Act, prohibit Participants from, directly or indirectly, selling
or otherwise transferring any shares of Common Stock or other securities of the Company during a period of up to one hundred eighty days
following the effective date of a registration statement of the Company filed under the Securities Act.

 

10.9 Right
of First Refusal.

 

(a) Before
any shares of Common Stock held by a Participant or any permitted transferee (each, a “Holder”) may be sold,
pledged, assigned, hypothecated, transferred, or otherwise disposed of (each, a “Transfer”), the Company or its assignee(s)
shall have a right of first refusal to purchase the shares of Common Stock proposed to be Transferred on the terms and conditions set
forth in this Section 10.9 (the “Right of First Refusal”). In the event that the Company’s charter, bylaws and/or
a stockholders’ agreement applicable to the shares of Common Stock contain a right of first refusal with respect to the shares of
Common Stock, such right of first refusal shall apply to the shares of Common Stock to the extent such provisions are more restrictive
than the Right of First Refusal set forth in this Section 10.9 and the Right of First Refusal set forth in this Section 10.9 shall not
in any way restrict the operation of the Company’s charter, bylaws or the operation of any applicable stockholders’ agreement.

 

(b) In
the event any Holder desires to Transfer any shares of Common Stock, the Holder shall deliver to the Company a written notice (the “Notice”)
stating: (A) the Holder’s bona fide intention to sell or otherwise Transfer such shares of Common Stock; (B) the
name of each proposed purchaser or other transferee (“Proposed Transferee”); (C) the number of shares of Common
Stock to be Transferred to each Proposed Transferee; and (D) the price for which the Holder proposes to Transfer the shares of Common
Stock (the “Offered Price”), and the Holder shall offer such shares of Common Stock at the Offered Price to the Company
or its assignee(s).

 

(c) Within
twenty-five days after receipt of the Notice, the Company and/or its assignee(s) may elect in writing to purchase all, but not less than
all, of the shares of Common Stock proposed to be Transferred to any one or more of the Proposed Transferees by delivery of a written
exercise notice to the Holder (a “Company Notice”). The purchase price (“Purchase Price”) for the
shares of Common Stock repurchased under this Section 10.9 shall be the Offered Price.

 

    12

     

    

 

(d) Payment
of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check or wire transfer), by cancellation
of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the
assignee), or by any combination thereof, within five days after delivery of the Company Notice or in the manner and at the times mutually
agreed to by the Company and the Holder. Should the Offered Price specified in the Notice be payable in property other than cash, the
Company or its assignee shall have the right to pay the purchase price in the form of cash equal in amount to the value of such property,
as determined by the Administrator.

 

(e) If
all or a portion of the shares of Common Stock proposed in the Notice to be Transferred are not purchased by the Company and/or its assignee(s)
as provided in this Section 10.9, then the Holder may sell or otherwise Transfer such shares of Common Stock to that Proposed Transferee
at the Offered Price or at a higher price; provided that such sale or other Transfer is consummated within sixty days after the
date of the Notice; and provided, further, that any such sale or other Transfer is effected in accordance with any Applicable
Laws and the Proposed Transferee agrees in writing that the provisions of this Plan and the applicable Award Agreement and any other applicable
agreements governing the shares of Common Stock to be Transferred shall continue to apply to the shares of Common Stock in the hands of
such Proposed Transferee. If the shares of Common Stock described in the Notice are not Transferred to the Proposed Transferee within
such sixty-day period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right
of First Refusal, as provided herein, before any shares of Common Stock held by the Holder may be sold or otherwise Transferred.

 

(f) Anything
to the contrary contained in this Section 10.9 notwithstanding and to the extent permitted by the Administrator, the Transfer of any or
all of the shares of Common Stock during a Participant’s lifetime or upon a Participant’s death by will or intestacy to the
Participant’s Immediate Family or a trust for the benefit of the Participant’s Immediate Family shall be exempt from the Right
of First Refusal. As used herein, “Immediate Family” shall mean spouse, lineal descendant or antecedent, father, mother,
brother or sister or stepchild (whether or not adopted). In such case, the transferee or other recipient shall receive and hold the shares
of Common Stock so Transferred subject to the provisions of this Plan (including the Right of First Refusal), the applicable Award Agreement
and any other applicable agreements governing the shares of Common Stock to be Transferred, and there shall be no further Transfer of
such shares of Common Stock except in accordance with the terms of this Section 10.9 (or otherwise as expressly provided under the Plan).

 

(g) The
Right of First Refusal shall terminate as to all shares of Common Stock if the Company becomes a Publicly Listed Company upon such occurrence.

 

    13

     

    

 

10.10 Data
Privacy. As a condition of receipt of any Award, each Participant explicitly and unambiguously consents to the collection, use and
transfer, in electronic or other form, of personal data as described in this paragraph by and among, as applicable, the Company and its
subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing the Participant’s participation
in the Plan. The Company and its subsidiaries and affiliates may hold certain personal information about a Participant, including but
not limited to, the Participant’s name, home address and telephone number, date of birth, social security or insurance number or
other identification number, salary, nationality, job title(s), any shares of stock held in the Company or any of its subsidiaries and
affiliates, details of all Awards, in each case, for the purpose of implementing, managing and administering the Plan and Awards (the
“Data”). The Company and its subsidiaries and affiliates may transfer the Data amongst themselves as necessary for
the purpose of implementation, administration and management of a Participant’s participation in the Plan, and the Company and its
subsidiaries and affiliates may each further transfer the Data to any third parties assisting the Company in the implementation, administration
and management of the Plan. These recipients may be located in the Participant’s country, or elsewhere, and the Participant’s
country may have different data privacy laws and protections than the recipients’ country. Through acceptance of an Award, each
Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes
of implementing, administering and managing the Participant’s participation in the Plan, including any requisite transfer of such
Data as may be required to a broker or other third party with whom the Company or the Participant may elect to deposit any shares of Common
Stock. The Data related to a Participant will be held only as long as is necessary to implement, administer, and manage the Participant’s
participation in the Plan. A Participant may, at any time, view the Data held by the Company with respect to such Participant, request
additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary corrections
to the Data with respect to the Participant or refuse or withdraw the consents herein in writing, in any case without cost, by contacting
his or her local human resources representative. The Company may cancel Participant’s ability to participate in the Plan and, in
the Administrator’s discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws his or
her consents as described herein. For more information on the consequences of refusal to consent or withdrawal of consent, Participants
may contact their local human resources representative.

 

10.11 Severability.
In the event any portion of the Plan or any action taken pursuant thereto shall be held illegal or invalid for any reason, the illegality
or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid
provisions had not been included, and the illegal or invalid action shall be null and void.

 

10.12 Governing
Documents. In the event of any contradiction between the Plan and any Award Agreement or any other written agreement between a Participant
and the Company or any Subsidiary of the Company that has been approved by the Administrator, the terms of the Plan shall govern, unless
it is expressly specified in such Award Agreement or other written document that a specific provision of the Plan shall not apply.

 

    14

     

    

 

10.13 Submission
to Jurisdiction; Waiver of Jury Trial. By accepting an Award, each Participant irrevocably and unconditionally consents to submit
to the exclusive jurisdiction of the courts of the Commonwealth of Massachusetts and of the United States of America, in each case located
in the Commonwealth of Massachusetts, for any action arising out of or relating to the Plan (and agrees not to commence any litigation
relating thereto except in such courts), and further agrees that service of any process, summons, notice or document by U.S. registered
mail to the address contained in the records of the Company shall be effective service of process for any litigation brought against it
in any such court. By accepting an Award, each Participant irrevocably and unconditionally waives any objection to the laying of venue
of any litigation arising out of Plan or Award hereunder in the courts of the Commonwealth of Massachusetts or the United States of America,
in each case located in the Commonwealth of Massachusetts, and further irrevocably and unconditionally waives and agrees not to plead
or claim in any such court that any such litigation brought in any such court has been brought in an inconvenient forum. By accepting
an Award, each Participant irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and all rights
to trial by jury in connection with any litigation arising out of or relating to the Plan or any Award hereunder.

 

10.14 Governing
Law. The provisions of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance with the laws of
the State of Delaware, disregarding choice-of-law principles of the law of any state that would require the application of the laws of
a jurisdiction other than such state.

 

10.15 Restrictions
on Shares; Claw-back Provisions. Shares of Common Stock acquired in respect of Awards shall be subject to such terms and conditions
as the Administrator shall determine, including, without limitation, restrictions on the transferability of shares of Common Stock, the
right of the Company to repurchase shares of Common Stock, the right of the Company to require that shares of Common Stock be transferred
in the event of certain transactions, tag-along rights, bring-along rights, redemption and co-sale rights and voting requirements. Such
terms and conditions may be additional to those contained in the Plan and may, as determined by the Administrator, be contained in the
applicable Award Agreement or in an exercise notice, stockholders’ agreement or in such other agreement as the Administrator shall
determine, in each case in a form determined by the Administrator. The issuance of such shares of Common Stock shall be conditioned on
the Participant’s consent to such terms and conditions and the Participant’s entering into such agreement or agreements. All
Awards (including any proceeds, gains or other economic benefit actually or constructively received by Participant upon any receipt or
exercise of any Award or upon the receipt or resale of any shares of Common Stock underlying the Award) shall be subject to the provisions
of any claw-back policy implemented by the Company, including, without limitation, any claw-back policy adopted to comply with the requirements
of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder, to the extent set
forth in such claw-back policy and/or in the applicable Award Agreement.

 

10.16 Titles
and Headings. The titles and headings of the Sections in the Plan are for convenience of reference only and, in the event of any conflict,
the text of the Plan, rather than such titles or headings, shall control.

 

10.17 Conformity
to Securities Laws. Participant acknowledges that the Plan is intended to conform to the extent necessary with all provisions of the
Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder,
and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan and all Awards granted hereunder
shall be administered only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by Applicable Laws,
the Plan and all Award Agreements shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

 

    15

     

    

 

11. Definitions.
As used in the Plan, the following words and phrases shall have the following meanings:

 

11.1 “Administrator”
means the Board or a Committee to the extent that the Board’s powers or authority under the Plan have been delegated to such Committee.

 

11.2 “Applicable
Laws” means the requirements relating to the administration of equity incentive plans under U.S. federal and state securities,
tax and other applicable laws, rules and regulations, the applicable rules of any stock exchange or quotation system on which the Common
Stock is listed or quoted and the applicable laws and rules of any foreign country or other jurisdiction where Awards are granted or issued
under the Plan.

 

11.3 
“Award” means, individually or collectively, a grant under the Plan of Options, Restricted Stock, Restricted
Stock Units or Other Stock-Based Awards.

 

11.4 “Award
Agreement” means a written agreement evidencing an Award, which agreements may be in electronic medium and shall contain such
terms and conditions with respect to an Award as the Administrator shall determine, consistent with and subject to the terms and conditions
of the Plan.

 

11.5 “Board”
means the Board of Directors of the Company.

 

11.6 “Change
in Control” means (i) a merger or consolidation of the Company with or into any other corporation or other entity or person,
(ii) a sale, lease, exchange or other transfer in one transaction or a series of related transactions of all or substantially all of the
Company’s assets, or (iii) any other transaction, including the sale by the Company of new shares of its capital stock or a transfer
of existing shares of capital stock of the Company, the result of which is that a third party that is not an affiliate of the Company
or its stockholders (or a group of third parties not affiliated with the Company or its stockholders) immediately prior to such transaction
acquires or holds capital stock of the Company representing a majority of the Company’s outstanding voting power immediately following
such transaction; provided that the following events shall not constitute a “Change in Control”: (A) a transaction
(other than a sale of all or substantially all of the Company’s assets) in which the holders of the voting securities of the Company
immediately prior to the merger or consolidation hold, directly or indirectly, at least a majority of the voting securities in the successor
corporation or its parent immediately after the merger or consolidation; (B) a sale, lease, exchange or other transaction in one transaction
or a series of related transactions of all or substantially all of the Company’s assets to an affiliate of the Company; (C) an initial
public offering of any of the Company’s securities; (D) a reincorporation of the Company solely to change its jurisdiction; or (E)
a transaction undertaken for the primary purpose of creating a holding company that will be owned in substantially the same proportion
by the persons who held the Company’s securities immediately before such transaction. Notwithstanding the foregoing, if a Change
in Control would give rise to a payment or settlement event with respect to any Award that constitutes “nonqualified deferred compensation,”
the transaction or event constituting the Change in Control must also constitute a “change in control event” (as defined in
Treasury Regulation §1.409A-3(i)(5)) in order to give rise to the payment or settlement event for such Award, to the extent required
by Section 409A.

 

    16

     

    

 

11.7 “Code”
means the Internal Revenue Code of 1986, as amended, and the regulations issued thereunder.

 

11.8 “Committee”
means one or more committees or subcommittees of the Board, which may be comprised of one or more directors and/or executive officers
of the Company, in either case, to the extent permitted in accordance with Applicable Laws.

 

11.9 “Common
Stock” means the common stock of the Company.

 

11.10 “Company”
means Voltus, Inc., a Delaware corporation, or any successor thereto. Except where the context otherwise requires, the term “Company”
includes any of the Company’s present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of
the Code and any other business venture (including, without limitation, joint venture or limited liability company) in which the Company
has a significant interest, as determined by the Administrator.

 

11.11 “Consultant”
means any person, including any advisor, engaged by the Company or a parent or subsidiary of the Company to render services to such
entity if: (i) the consultant or adviser renders bona fide services to the Company; (ii) the services rendered by the
consultant or advisor are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly
or indirectly promote or maintain a market for the Company’s securities; and (iii) the consultant or advisor is a natural person,
or such other advisor or consultant as is approved by the Administrator.

 

11.12 “Designated
Beneficiary” means the beneficiary or beneficiaries designated, in a manner determined by the Administrator, by a Participant
to receive amounts due or exercise rights of the Participant in the event of the Participant’s death or incapacity In the absence
of an effective designation by a Participant, “Designated Beneficiary” shall mean the Participant’s estate.

 

11.13 “Director”
means a member of the Board.

 

11.14 “Disability”
means a permanent and total disability within the meaning of Section 22(e)(3) of the Code, as it may be amended from time to time.

 

11.15 “Dividend
Equivalents” means a right granted to a Participant pursuant to Section 6.4(c) hereof to receive the equivalent value (in cash
or shares of Common Stock) of dividends paid on shares of Common Stock.

 

11.16 “Employee”
means any person, including officers and Directors, employed by the Company (within the meaning of Section 3401(c) of the Code) or any
parent or subsidiary of the Company.

 

11.17 “Equity
Restructuring” means, as determined by the Administrator, a non-reciprocal transaction between the Company and its stockholders,
such as a stock dividend, stock split, spin-off or recapitalization through a large, nonrecurring cash dividend, that affects the shares
of Common Stock (or other securities of the Company) or the share price of Common Stock (or other securities of the Company) and causes
a change in the per share value of the Common Stock underlying outstanding Awards.

 

    17

     

    

 

11.18 “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

11.19 “Fair
Market Value” means, as of any date, the value of Stock determined as follows: (i) if the Common Stock is listed on any
established stock exchange, its Fair Market Value shall be the closing sales price for such Common Stock as quoted on such exchange for
such date, or if no sale occurred on such date, the first market trading day immediately prior to such date during which a sale occurred,
as reported in The Wall Street Journal or such other source as the Administrator deems reliable; (ii) if the Common Stock
is not traded on a stock exchange but is quoted on a national market or other quotation system, the last sales price on such date, or
if no sales occurred on such date, then on the date immediately prior to such date on which sales prices are reported, as reported in
The Wall Street Journal or such other source as the Administrator deems reliable; or (iii) in the absence of an established
market for the Common Stock, the Fair Market Value thereof shall be determined by the Administrator in its sole discretion.

 

11.20 “Incentive
Stock Option” means an “incentive stock option” as defined in Section 422 of the Code.

 

11.21 “Non-Qualified
Stock Option” means an Option that is not intended to be or otherwise does not qualify as an Incentive Stock Option.

 

11.22 “Option”
means an option to purchase Common Stock.

 

11.23 “Other
Stock-Based Awards” means other Awards of shares of Common Stock, and other Awards that are valued in whole or in part by reference
to, or are otherwise based on, shares of Common Stock or other property.

 

11.24 “Participant”
means a Service Provider who has been granted an Award under the Plan.

 

11.25 “Plan”
means this 2016 Equity Incentive Plan.

 

11.26 “Publicly
Listed Company” means that the Company or its successor (i) is required to file periodic reports pursuant to Section 12 of the
Exchange Act and (ii) the Common Stock is listed on one or more National Securities Exchanges (within the meaning of the Exchange Act)
or is quoted on NASDAQ or a successor quotation system.

 

11.27 “Restricted
Stock” means Common Stock awarded to a Participant pursuant to Section 6 hereof that is subject to certain vesting conditions
and other restrictions.

 

11.28 “Restricted
Stock Unit” means an unfunded, unsecured right to receive, on the applicable settlement date, one share of Common Stock or an
amount in cash or other consideration determined by the Administrator equal to the value thereof as of such payment date, which right
may be subject to certain vesting conditions and other restrictions.

 

11.29 “Section
409A” means Section 409A of the Code and all regulations, guidance, compliance programs and other interpretative authority thereunder.

 

11.30 “Securities
Act” means the Securities Act of 1933, as amended from time to time.

 

11.31 “Service
Provider” means an Employee, Consultant or Director.

 

11.32 “Termination
of Service” means the date the Participant ceases to be a Service Provider.

 

* * * * *

 

    18

     

    

 

VOLTUS, INC. 

 

2016 EQUITY INCENTIVE PLAN

 

CALIFORNIA SUPPLEMENT 

 

This supplement is intended
to satisfy the requirements of Section 25102(o) of the California Corporations Code and the regulations issued thereunder (“Section
25102(o)”). Notwithstanding anything to the contrary contained in the Plan and except as otherwise determined by the Administrator,
the provisions set forth in this supplement shall apply to all Awards granted under the Plan to a Participant who is a resident of the
State of California on the date of grant (a “California Participant”) and which are intended to be exempt from registration
in California pursuant to Section 25102(o), and otherwise to the extent required to comply with applicable law (but only to such extent).
Definitions in the Plan are applicable to this supplement.

 

1. Limitation
On Securities Issuable Under Plan. The amount of securities issued pursuant to the Plan shall not exceed the amounts permitted under
Section 260.140.45 of the California code of regulations to the extent applicable.

 

2. Additional
Limitations For Grants. The terms of all Awards shall comply, to the extent applicable, with Sections 260.140.41 and 260.140.42
of the California Code of Regulations. 

 

3. Additional
Requirement To Provide Information To California Participants. The Company shall provide to each California Participant, not
less frequently than annually, copies of annual financial statements (which need not be audited). The Company shall not be required to
provide such statements to key persons whose duties in connection with the Company assure their access to equivalent information. In addition,
this information requirement shall not apply to any plan or agreement that complies with all conditions of Rule 701 of the Securities
Act (“Rule 701”); provided that for purposes of determining such compliance, any registered domestic partner
shall be considered a “family member” as that term is defined in Rule 701. 

 

* * * * *

 

 

CS-1Exhibit 10.19

 

VOLTUS,
INC.

 

2016
EQUITY INCENTIVE PLAN

 

RESTRICTED STOCK UNIT GRANT NOTICE

 

Voltus, Inc., a Delaware corporation,
(the “Company”), pursuant to its 2016 Equity Incentive Plan (as may be amended from time to time, the “Plan”),
hereby grants to the individual listed below (“Participant”), an award of Restricted Stock Units (“RSUs”).
Each RSU represents the right to receive, in accordance with this Grant Notice and the Restricted Stock Unit Agreement attached hereto
as Exhibit A (together, the “Agreement”), one share of Common Stock upon vesting. This award of
RSUs is subject to all of the terms and conditions set forth herein and in the Agreement and the Plan, each of which is incorporated herein
by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Agreement.

 

	Participant:	[__________________________]
	Grant Date:	[__________________________]
	Total Number of RSUs:	[_____________]
	Vesting Commencement Date:	[_____________]
	Vesting Schedule:	 [_____________]

 

By his or her signature below,
Participant agrees to be bound by the terms and conditions of the Plan and this Agreement. Participant has reviewed this Agreement and
the Plan in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands
all provisions of this Agreement and the Plan. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations
of the Administrator upon any questions arising under the Plan and this Agreement.

 

	VOLTUS, INC.:	 	PARTICIPANT:
	 	 	 	
	By:	 	 	 
	Print Name:	                	 	[Name]
	Title:	 	 	 

 

 

    

     

    

 

EXHIBIT A

 

TO RESTRICTED STOCK UNIT GRANT
NOTICE

 

RESTRICTED STOCK UNIT AGREEMENT

 

1.
Grant. Pursuant to the Restricted Stock Unit Grant Notice (the “Grant Notice”) to which this Restricted
Stock Unit Agreement (this “Agreement”) is attached, Voltus, Inc., a Delaware corporation (the “Company”),
has granted to the individual set forth in the Grant Notice (the “Participant”) that number of RSUs set forth
in the Grant Notice under the Voltus, Inc. 2016 Equity Incentive Plan, as may be amended from time to time (the “Plan”),
subject to all of the terms and conditions contained in this Agreement, the Grant Notice and the Plan. All capitalized terms used but
not defined in this Agreement shall have the meanings ascribed to such terms in the Plan and the Grant Notice unless the context clearly
indicates otherwise. Notwithstanding anything to the contrary anywhere else in this Agreement, this grant of RSUs is subject to the terms
and provisions of the Plan, which is incorporated herein by reference and which shall control in the event of any inconsistency between
this Agreement and the Plan.

 

2.
Settlement. Within sixty (60) days following each Vesting Date, the Company shall deliver one share of Common Stock (or
if determined by the Administrator, cash equal to the Fair Market Value of one share of Common Stock on the settlement date) with respect
to each RSU that vests on such Vesting Date. Unless and until an RSU vests, the Participant will have no right to settlement in respect
of any such RSU. Prior to actual settlement in respect of any vested RSU, such RSU will represent an unsecured obligation of the Company,
payable (if at all) only from the general assets of the Company.

 

3.
Vesting and Forfeiture.

 

(a) Subject
to Section 3(b) below, the RSUs shall vest in accordance with the Vesting Schedule set forth in the Grant Notice except that any fraction
of an RSU that would otherwise be vested will be accumulated and will vest only when a whole RSU has accumulated. Notwithstanding the
foregoing, the Company may delay any payment under this Agreement that the Company reasonably determines would violate Applicable Law
until the earliest date the Company reasonably determines the making of the payment will not cause such a violation (in accordance with
Treasury Regulation Section 1.409A-2(b)(7)(ii)), provided the Company reasonably believes the delay will not result in the imposition
of excise taxes under Section 409A.

 

(b) Notwithstanding
the foregoing, in the event the Participant experiences a Termination of Service for any reason, all RSUs that have not vested on or prior
to the date of such termination shall be immediately forfeited by the Participant as of the date of such termination without any payment
of consideration therefor unless otherwise determined by the Administrator or required under a binding, written agreement with the Company.

 

4.
Tax Withholding. The Company and its Subsidiaries shall have the authority and the right to deduct or withhold, or to require
the Participant to remit to the Company or the applicable Subsidiary, an amount sufficient to satisfy all applicable federal, state and
local taxes required by law to be withheld with respect to any taxable event arising in connection with the RSUs and/or the shares of
Common Stock. The Company shall not be obligated to deliver shares of Common Stock (whether in book entry or certificated form) to the
Participant or the Participant’s legal representative unless the Participant shall have paid or otherwise satisfied in full the
amount of all federal, state and local withholding taxes applicable to the taxable income of the Participant arising in connection with
the RSUs and/or the shares of Common Stock.

 

    

     

    

 

5.
Rights as Stockholder. Neither the Participant nor any person claiming under or through the Participant will have any of
the rights or privileges of a stockholder of the Company in respect of any shares of Common Stock that may become deliverable hereunder
unless and until, as applicable, certificates representing such shares of Common Stock shall have been issued, recorded on the records
of the Company or its transfer agents or registrars, and delivered in certificate or book entry form to the Participant or any person
claiming under or through the Participant.

 

6.
Non-Transferability. Except as may be expressly determined by the Administrator, neither the RSUs nor any interest or right
therein may be transferred in any manner except by will or by the laws of descent or distribution. The terms of this Agreement shall be
binding upon the executors, administrators, heirs, successors and assigns of the Participant.

 

7.
Distribution of Shares. Notwithstanding anything herein to the contrary, (a) no payment shall be made under this Agreement
in the form of shares of Common Stock unless such shares of Common Stock issuable upon such payment are then registered under the Securities
Act or, if such shares of Common Stock are not then so registered, the Administrator has determined that such payment and issuance would
be exempt from the registration requirements of the Securities Act, and (b) the Company shall not be required to issue or deliver any
shares of Common Stock (whether in certificated or book-entry form) pursuant to this Agreement prior to the fulfillment of the conditions
set forth in the Plan. In addition, if at any time the Company determines, in its discretion, that the listing, registration or qualification
of the shares of Common Stock or other securities under any Applicable Laws, or the consent or approval of any governmental regulatory
authority, is necessary or desirable as a condition to the issuance of shares of Common Stock or other securities to the Participant (or
his or her estate, as applicable), such issuance will not occur unless and until such listing, registration, qualification, consent or
approval will have been effected or obtained free of any conditions not acceptable to the Company. The Company will use reasonable efforts
to meet the requirements of any such Applicable Laws and to obtain any such consent or approval of any such governmental authority.

 

8.
Market Standoff Period. The Company may, at the request of any underwriter representative or the Board or the Administrator,
in connection with registering any securities of the Company or any successor or survivor corporation, or a parent or subsidiary thereof,
under the Securities Act (including a registration statement relating to (i) the Company’s initial public offering or (ii) a merger
of the Company with, or the acquisition of the Company (or of Company securities) by, a publicly-traded special purpose acquisition company
(a “SPAC”) following which the securities of the SPAC are listed on a national exchange), prohibit Participant
from, directly or indirectly, selling or otherwise transferring or disposing any shares of Common Stock or other such securities during
a period of up to one hundred eighty (180) days following the effective date of the applicable registration statement filed under the
Securities Act, or such longer period as determined by the underwriter representative, the Board or the Administrator (the “Market
Standoff Period”).

 

9.
Restrictions on Shares. Shares of Common Stock issued pursuant to the RSUs shall be subject to the right of first refusal
in Section 10.9 of the Plan and such terms and conditions as the Administrator shall determine in its sole discretion, including, without
limitation, transferability restrictions, repurchase rights, requirements that such shares of Common Stock be transferred in the event
of certain transactions, rights of first refusal with respect to permitted transfers of shares, voting agreements, tag-along rights and
bring-along rights. Such terms and conditions may, in the Administrator’s sole discretion, be contained in such other agreement
as the Administrator shall determine, in each case in a form determined by the Administrator. The issuance of such shares of Common Stock
shall be conditioned on the Participant’s consent to such terms and conditions and/or the Participant’s entering into such
agreement or agreements. In addition, the Participant acknowledges and agrees that delivery of any shares of Common Stock in respect of
RSUs shall be subject to and conditioned upon the Participant making such representations as the Administrator shall deem necessary or
advisable, in its sole discretion.

 

    A-2

     

    

 

10.
No Effect on Service Provider Status. Nothing in this Agreement or in the Plan shall confer upon the Participant any right
to continue to serve as a Director, Employee or Consultant of the Company or any parent or subsidiary thereof, or shall interfere with
or restrict in any way the rights of the Company or any parent or subsidiary thereof, which rights are hereby expressly reserved, to discharge
the Participant at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written
agreement between the Participant and the Company or any parent or subsidiary thereof.

 

11.
Investment Representations. The Participant hereby represents, warrants, covenants, acknowledges and agrees on behalf of
the Participant and his or her spouse or domestic partner, if applicable, that (i) the Participant is holding the RSUs for the Participant’s
own account, and not for the account of any other person, and (ii) the Participant is holding the RSUs for investment and not with a view
to distribution or resale thereof except in compliance with Applicable Laws regulating securities.

 

12.
Tax Consultation. The Participant understands that the Participant may suffer adverse tax consequences in connection with
the RSUs granted pursuant to this Agreement. The Participant represents that the Participant has consulted with any tax consultants that
the Participant deems advisable in connection with the RSUs and that the Participant is not relying on the Company for tax advice.

 

13.
Amendments, Suspension and Termination. To the extent permitted by the Plan, this Agreement may be wholly or partially amended
or otherwise modified, suspended or terminated at any time or from time to time by the Administrator.

 

14.
Adjustments. The Participant acknowledges that the RSUs are subject to modification and termination in certain events as
provided in this Agreement and Section 8 of the Plan.

 

15.
Restrictive Legends and Stop-Transfer Orders.

 

(a) Participant
agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer”
instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to
the same effect in its own records.

 

(b) The
Company shall not be required: (i) to transfer on its books any shares of Common Stock that have been sold or otherwise transferred in
violation of any of the provisions of this Agreement, or (ii) to treat as owner of such shares or to accord the right to vote or pay dividends
to any purchaser or other transferee to whom such shares shall have been so transferred.

 

16.
Notices. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company at its
principal executive offices in care of the Secretary of the Company, and any notice to be given to Participant shall be addressed to Participant
at the most recent address for Participant shown in the Company’s records. By a notice given pursuant to this Section 15, either
party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent
via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post
office regularly maintained by the United States Postal Service.

 

    A-3

     

    

 

17.
Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction
of this Agreement.

 

18.
Submission to Jurisdiction; Waiver of Jury Trial. By accepting this Award, Participant irrevocably and unconditionally consents
to submit to the exclusive jurisdiction of the courts of the Commonwealth of Massachusetts, and of the United States of America located
in the Commonwealth of Massachusetts, for any action arising out of or relating to the Plan and this Award (and agrees not to commence
any litigation relating thereto except in such courts), and further agrees that service of any process, summons, notice or document by
U.S. registered mail to the address contained in the records of the Company shall be effective service of process for any litigation brought
against it in any such court. By accepting this Award, Participant irrevocably and unconditionally waives any objection to the laying
of venue of any litigation arising out of Plan or this Award in the courts of the Commonwealth of Massachusetts, or the United States
of America located in the State of Massachusetts, and further irrevocably and unconditionally waives and agrees not to plead or claim
in any such court that any such litigation brought in any such court has been brought in an inconvenient forum. By accepting this Award,
Participant irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and all rights to trial by
jury in connection with any litigation arising out of or relating to the Plan or this Award.

 

19.
Governing Law; Severability. This Agreement shall be administered, interpreted and enforced under the laws of the State
of Delaware, without regard to the conflicts of law principles thereof. Should any provision of this Agreement be determined by a court
of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable.

 

20.
Conformity to Securities Laws. Participant acknowledges that the Plan is intended to conform to the extent necessary with
all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange
Commission thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan and this Award
shall be administered only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by Applicable Laws,
the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

 

21.
Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and
this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer contained
herein, this Agreement shall be binding upon the Participant and his or her heirs, executors, administrators, successors and assigns.

 

22.
Entire Agreement. The Plan and this Agreement constitute the entire agreement of the parties and supersede in their entirety
all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof.

 

* * * * *

 

 

A-4

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