Document:

Exhibit 10.21

    

    

    MILK MAKEUP LLC

    

    

    APPRECIATION RIGHTS PLAN

    

    

    SECTION 1.  GENERAL PURPOSE OF THE
          PLAN; DEFINITIONS

    

    

    The name of the plan is the MILK Makeup LLC Appreciation Rights Plan (the “Plan”).  The purpose of the Plan is to encourage and enable the
      employees and service providers of Milk Makeup, LLC, a Delaware limited liability company (the “LLC”), or any Subsidiary, and other individuals selected by the Board, upon whose judgment, initiative and efforts the LLC largely depends for the
      successful conduct of its business, to acquire an indirect proprietary interest in the LLC.  If the terms of this Plan or any Award Letter conflict in any way with the provisions of the LLC Agreement, the LLC Agreement shall govern.  The terms of
      this Plan or any Award Letter shall not be deemed in conflict or inconsistent with the provisions of the LLC Agreement merely because they impose greater or additional restrictions, obligations or duties, or if the provisions of the Plan or Award
      Letter state that such Plan or Award Letter terms apply notwithstanding provisions to the contrary in the LLC Agreement.

    

    

    Any capitalized terms used herein, but not defined herein shall have the meanings given to such terms in the LLC Agreement.  The following
      terms shall be defined as set forth below:

    

    

    “Act” means the Securities Act of
      1933, as amended, and the rules and regulations thereunder.

    

    

    “Appreciation Right” means an Award
      entitling the recipient to receive an amount in cash and/or a number of Units (as determined in the Committee’s sole discretion or as set forth in an Award Letter) having a value equal to the excess of the Fair Market Value of a Unit on the Pricing
      Date over the Grant Date Fair Market Value of a Unit, multiplied by the number of Units with respect to which the Appreciation Right shall have been granted.

    

    

    “Award” means an award of
      Appreciation Rights.

    

    

    “Award Letter” means a written or
      electronic agreement setting forth the terms and provisions applicable to an Award granted under the Plan.  Each Award Letter may contain terms and conditions in addition to those set forth in the Plan; provided, however, that except to the extent explicitly provided to
        the contrary, in the event of any conflict in the terms of the Plan and the Award Letter, the terms of the Plan shall govern.

    

    

    “Board” means the Board of
      Directors of the LLC.

    

    

    “Business Relationship” means any
      relationship as a full-time employee, part-time employee, director or other key person (including consultants) of the LLC, any Subsidiary or any successor entity (e.g., a Business Relationship shall be deemed to continue without interruption in the
      event an individual’s status changes from full-time employee to part-time employee or consultant).

    
      
        

    

    
    

    

    “Code” means the Internal Revenue
      Code of 1986, as amended, and any successor Code, and related rules, regulations and interpretations.

    

    

    “Committee” means the Committee
      referred to in Section 2.

    

    

    “Effective Date” means January 16, 2018.

    

    

    “Exchange Act” means the Securities
      Exchange Act of 1934, as amended, and the rules and regulations thereunder.

    

    

    “Fair Market Value” of a Unit on
      any given date means the fair market value per Unit determined in good faith by the Committee based on the reasonable application of a reasonable valuation method not inconsistent with Section 409A of the Code and determined in accordance with the
      terms of the LLC Agreement with respect to such Unit subject to an Award hereunder.

    

    

    “Grant Date” means the date of
      grant of an Award under the Plan.

    

    

    “Grant Date Fair Market Value”
      means the Fair Market Value of a Unit as of the Grant Date.

    

    

    “IPO” means the consummation of the
      first fully underwritten, firm commitment public offering pursuant to an effective registration statement under the Act covering the offer and sale by the LLC or any successor entity of its equity securities, as a result of or following which Units
      shall be publicly held.

    

    

    “LLC Agreement” means the Operating
      Agreement of the LLC, dated as of December 23, 2016, as amended, restated or otherwise modified from time to time.

    

    

    “Pricing Date” means the date of
      settlement of any Appreciation Rights. In the even that an Appreciation Right is settled in connection with a Sale Event (or if the provisions of Section 3(c)(ii) apply), the Pricing Date shall be the effective date of such Sale Event.

    

    

    “Sale Event” means the occurrence
      of a Capital Transaction or Sale of the Company, as such terms are defined in the LLC Agreement and shall also mean and include any of the following: (a) the liquidation or dissolution of the LLC or (b) any acquisition of the business of the Company, as determined by the Board.

    

    

    “Subsidiary” means any corporation
      or other entity (other than the LLC) in which the LLC has more than a 50 percent interest, either directly or indirectly.

    

    

    “Unit” means a Common Unit of the
      LLC, as so denominated in the LLC Agreement.

    

    

    SECTION 2.  ADMINISTRATION OF PLAN;
          COMMITTEE AUTHORITY TO SELECT GRANTEES AND DETERMINE AWARDS

    

    

    (a)          Administration of Plan.  The Plan shall be administered by the Board, or at the discretion of the Board, by a committee of the Board, comprised of not less than two directors. 
        All references herein to the “Committee” shall be deemed to refer to the group then responsible for administration of the Plan at the relevant time (i.e.,
        either the Board or a committee or committees of the Board, as applicable).

    
      2

      
        

    

    

    

    (b)          Powers of Committee.  The Committee shall have the power and authority to grant Awards consistent with the terms of the Plan and the LLC Agreement, including the power and
        authority:

    

    

    (i)          to select the individuals to
        whom Awards may from time to time be granted;

    

    

    (ii)          to determine the time or
        times of grant, and the amount, if any, of Appreciation Rights granted to any one or more grantees;

    

    

    (iii)          to determine the number of
        Units to be covered by any Award and, subject to the provisions of the Plan, below, the price, the Grant Date Fair Market Value and the exercise price relating thereto;

    

    

    (iv)          to determine and, subject
        to Section 12, to modify from time to time the terms and conditions, including restrictions, not inconsistent with the terms of the Plan, of any Award, which terms and conditions may differ among individual Awards and grantees, and to approve the
        form of Award Letters;

    

    

    (v)          subject to compliance with
        Section 409A, to accelerate at any time the exercisability or vesting of all or any portion of any Award;

    

    

    (vi)          to impose any limitations
        on Awards and to exercise rights or obligations of the LLC with respect to Awards; and

    

    

    (vii)          at any time to adopt,
        alter and repeal such rules, guidelines and practices for administration of the Plan and for its own acts and proceedings as it shall deem advisable; to interpret the terms and provisions of the Plan and any Award (including related Award Letters);
        to make all determinations it deems advisable for the administration of the Plan; to decide all disputes arising in connection with the Plan; and to otherwise supervise the administration of the Plan.

    

    

    All decisions and interpretations of the Committee shall be binding on all persons, including the LLC and Plan grantees.

    

    

    (c)          Award Letter.  Awards under the Plan shall be evidenced by Award Letters that set forth the terms, conditions and limitations for each Award and may include, without limitation,
        the term of an Award, the provisions applicable in the event the Business Relationship terminates, and the LLC’s authority to unilaterally or bilaterally amend, modify, suspend, cancel or rescind an Award.

    

    

    (d)          Indemnification.  Neither the Board nor the Committee, nor any member of either or any delegate thereof, shall be liable for any act, omission, interpretation, construction or
        determination made in good faith in connection with the Plan, and the members of the Board and the Committee (and any delegate thereof) shall be entitled in all cases to indemnification and reimbursement by the LLC in respect of any claim, loss,
        damage or expense (including, without limitation, reasonable attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by law and/or under the LLC’s governing documents, including its articles or bylaws, or any directors’ and
        officers’ liability insurance coverage which may be in effect from time to time and/or any indemnification agreement between such individual and the LLC.

    
      3

      
        

    

    SECTION 3.  UNITS ISSUABLE UNDER THE PLAN; ADJUSTMENTS AND SALE EVENTS

    

    

    (a)          Units Issuable.  The maximum number of Units reserved and available for issuance under the Plan shall be 940,860, subject to adjustment as provided in Section 3(b).  For purposes of this limitation, the Units underlying any Appreciation Rights that are forfeited, canceled, withheld upon exercise or settlement of an Award to cover the
        exercise price or tax withholding, reacquired by the LLC prior to vesting, satisfied without the issuance of Units or otherwise terminated (other than by exercise or settlement), in each case shall be added back to the Units available for issuance
        under the Plan. Subject to the terms of the LLC Agreement, the Units available for issuance under the Plan may be authorized but unissued Units or Units reacquired by the LLC.

    

    

    (b)          Changes in Units or Capitalization.  Subject to Section 3(c) hereof and the terms and conditions of the LLC Agreement, if, as a result of any reorganization, recapitalization,
        reclassification, unit distribution, unit split, reverse unit split or other similar change in the LLC’s capitalization, the outstanding Units are increased or decreased or are exchanged for a different number or kind of units or other securities
        of the LLC, new or different units or other securities of the LLC or other non-cash assets are distributed with respect to such Units or other securities, or, if, as a result of any merger or consolidation, or sale of all or substantially all of
        the assets of the LLC, the outstanding Units are converted into or exchanged for securities of the LLC or any successor entity (or a parent or subsidiary thereof), the Committee shall make an appropriate and equitable or proportionate adjustment in
        (i) the maximum number of Units or other securities reserved for issuance under the Plan, (ii) the number and kind of Units or other securities subject to any then outstanding Awards under the Plan, (iii) the exercise price for each unit subject to
        any then outstanding Appreciation Right and/or the Grant Date Fair Market Value of any Unit underlying any Appreciation Rights under the Plan, without changing the aggregate exercise price or aggregate Grant Date Fair Market Value with respect to
        such Appreciation Rights.  The adjustment by the Committee shall be final, binding and conclusive.  Except as otherwise permitted by the LLC Agreement, no fractional Units shall be issued under the Plan resulting from any such adjustment, but the
        Committee in its discretion may make a cash payment in lieu of fractional Units.

    

    

    (c)          Sale Events.

    

    

    (i)          Upon consummation of a Sale
        Event, the Plan and all outstanding Awards granted hereunder shall terminate, unless provision is made in connection with the Sale Event in the sole discretion of the parties to the Sale Event for the assumption or continuation by the successor
        entity of Awards theretofore granted, or the substitution of such Awards with new awards of the successor entity or parent thereof, with an equitable or proportionate adjustment  as to the number and kind of securities and, if
        appropriate, the exercise prices, as such parties shall agree (after taking into account any applicable acceleration).

    
      4

      
        

    

    

    

    (ii)          Notwithstanding anything to
        the contrary herein, the LLC shall have the right, but not the obligation in connection with a Sale Event, to make or provide for a cash payment to grantees holding Appreciation Rights, in exchange for the cancellation thereof, in an amount equal
        to the difference between (A) the value as determined by the Committee of the consideration payable, or otherwise to be received by holders of Units, per Unit pursuant to a Sale Event multiplied by the number of Units subject to outstanding
        Appreciation Rights (to the extent then vested and/or exercisable, including by reason of vesting acceleration, at prices not in excess of the applicable sale price for the Units in the Sale Event) and (B) the aggregate Grant Date Fair Market Value
        of all such outstanding Appreciation Rights (to the extent then vested or exercisable, including by reason of vesting acceleration, at prices not in excess of the sale price for the Units in the Sale Event), subject to the other terms and
        conditions of the Sale Event (such as indemnification obligations and purchase price adjustments) to the extent provided by the parties.

    

    

    SECTION 4.  ELIGIBILITY

    

    

    Grantees under the Plan will be such full or part-time officers and other employees, directors, service providers and key persons
      (including prospective employees, but conditioned on their employment, and consultants) of the LLC or any Subsidiary, who are selected from time to time by the Committee in its sole discretion.

    

    

    SECTION 5.  APPRECIATION RIGHTS

    

    

    (a)          Grant of Appreciation Rights.  Any Appreciation Right granted under the Plan must be made pursuant to an Appreciation Rights Award Letter in such form as the Committee may from
        time to time approve.  Appreciation Rights Award Letters need not be identical.  Awards of Appreciation Rights under the Plan shall only be granted with respect to Units.

    

    

    (b)          Terms of Appreciation Rights.  The Committee in its discretion may grant Appreciation Rights to those individuals who meet the eligibility requirements of Section 4. The exercise
        price of or Grant Date Fair Market Value with respect to an Appreciation Right shall not be less than 100 percent of the Fair Market Value of a Unit on the Grant Date.  Appreciation Rights granted pursuant to Section 5(a) shall be subject to the
        following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee shall deem desirable.  Appreciation Rights shall become vested and shall be settled at such time or
        times, whether or not in installments, as shall be determined by the Committee at or after the Grant Date.  The Appreciation Rights Award Letter shall specify the applicable Pricing Date(s) and or events that shall trigger any Pricing Date with
        respect to the award of Appreciation Rights.  Appreciation Rights may be settled in cash or Units (or in any combination thereof) as determined by the Committee in its sole discretion or as set forth in an Appreciation Right Award Letter.  The term
        of an Appreciation Right may not exceed ten years.  A grantee shall have the rights of a unitholder only as to Units acquired upon the settlement of Appreciation Rights and not as to unexercised Appreciation Rights.  A grantee shall not be deemed
        to have acquired any such units unless and until an Appreciation Right shall have been settled  in Units pursuant to the terms hereof, the grantee’s name shall have been entered on the books of the LLC as a unitholder with respect to such Units and
        the grantee and the LLC have taken such other actions required under the LLC Agreement necessary to become a unitholder.

    
      5

      
        

    

    

    

    (c)          Non-Transferability of Appreciation Rights.  No Appreciation Right shall be transferable by the grantee.

    

    

    (d)          Termination.  Except as may otherwise be provided by the Committee either in the Award Letter or in writing after the Award Letter is issued, a grantee’s right in all Appreciation
        Rights that have not vested shall automatically terminate and/or be subject to repurchase upon the cessation of grantee’s Business Relationship with the LLC and any Subsidiary for any reason as provided in Section 10 of this Plan, below.

    

    

    SECTION 6.  TAX WITHHOLDING

    

    

    Each grantee shall, no later than the date as of which the value of an Award or of any Units or other amounts received thereunder first
      becomes includable in the gross income of the grantee for Federal income tax purposes, pay to the LLC, or make arrangements satisfactory to the Committee regarding payment of, any Federal, state, or local taxes of any kind required by law to be
      withheld by the LLC with respect to such income.  The LLC and any Subsidiary shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the grantee.  The LLC’s obligation to deliver
      certificates (or evidence of book entry) to any grantee is subject to and conditioned on any such tax withholding obligations being satisfied by the grantee.

    

    

    SECTION 7.  SECTION 409A AWARDS.

    

    

    To the extent that any Award is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the
      Code (a “409A Award”), the Award shall be subject to such additional rules and requirements as specified by the Committee from time to time in order to comply with Section 409A of the Code.  In this regard, if any amount under a 409A Award is payable
      upon a “separation from service” (within the meaning of Section 409A of the Code) to a grantee who is considered a “specified employee” (within the meaning of Section 409A of the Code), then no such payment shall be made prior to the date that is the
      earlier of (i) six months and one day after the grantee’s date of separation from service, or (ii) the grantee’s death, but only to the extent such delay is necessary to prevent such payment from being subject to interest, penalties and/or additional
      tax imposed pursuant to Section 409A of the Code.  To the extent that any 409A Award is payable upon a Sale Event, such 409A Award shall only be payable if and to the extent such Sale Event also constitutes a “change in ownership” of the LLC or a
      “change in the ownership of a substantial portion of the LLC’s assets” for purposes of Section 409A of the Code.  To the extent that any 409A Award is payable upon a grantee’s termination of Business Relationship, such 409A Award shall only be
      payable upon the grantee’s “separation from service” (within the meaning of Section 409A of the Code).

    
      6

      
        

    

    

    

    SECTION 8.  TERMINATION OF BUSINESS
          RELATIONSHIP.

    

    

    If a grantee’s Business Relationship is terminated for any reason, then the grantee shall forfeit all of his unvested Awards for zero
      consideration and the LLC shall have the option to purchase all of the individual’s vested, at an amount equal to the Fair Market Value of the Units underlying such vested Award less the applicable Grant Date Fair Market Value with respect to such Award, determined as of the date of such termination of such grantee’s Business Relationship.

    

    

    SECTION 9.  TRANSFER, LEAVE OF
          ABSENCE, ETC.

    

    

    For purposes of the Plan, the following events shall not be deemed a termination of employment or cessation of a Business Relationship:

    

    

    (a)          a transfer to the employment
        of the LLC from a Subsidiary or from the LLC to a Subsidiary, or from one Subsidiary to another; or

    

    

    (b)          an approved leave of absence
        for military service, sickness or disability, or for any other purpose approved by the LLC, if the employee’s right to re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was
        granted or if the Committee otherwise so provides in writing.

    

    

    SECTION 10.  AMENDMENTS AND
          TERMINATION

    

    

    The Board may, at any time, amend or discontinue the Plan and the Committee may, at any time, amend or cancel any outstanding Awards
      hereunder at any time or from time to time; provided, however,
      that no such action shall adversely affect rights under any outstanding Award without the consent of the holder of the Award.  The Committee may exercise its discretion to reduce the exercise price of outstanding Appreciation Right or effect
      repricing through cancellation of outstanding Awards and by granting such holders new Awards in replacement of the cancelled Awards.  To the extent determined by the Committee to be required by law, Plan amendments shall be subject to approval by the
      LLC equity holders.  Nothing in this Section 10 shall limit the Board’s or Committee’s authority to take any action permitted pursuant to Section 3(c).

    

    

    SECTION 11.  STATUS OF PLAN

    

    

    With respect to the portion of any Award that has not been exercised and any payments in cash, Units or other consideration not received by
      a grantee, a grantee shall have no rights greater than those of a general creditor of the LLC unless the Committee shall otherwise expressly so determine in connection with any Award(s).  In its sole discretion, the Committee may authorize the
      creation of trusts or other arrangements to meet the LLC’s obligations to deliver Units or make payments with respect to Awards hereunder; provided, that the
      existence of such trusts or other arrangements is consistent with the foregoing sentence.

    
      7

      
        

    

    

    

    SECTION 12.  GENERAL PROVISIONS

    

    

    (a)          No Distribution; Compliance with Legal Requirements. The Committee may require each person acquiring Units pursuant to an Award to represent to and agree with the LLC in writing
        that such person is acquiring the Units without a view to distribution thereof.  No Units shall be issued pursuant to an Award until all applicable securities law and other legal and stock exchange or similar requirements and all requirements under
        the LLC Agreement have been satisfied.  The Committee may require the placing of such stop-orders and restrictive legends on certificates for Units and Awards as it deems appropriate.

    

    

    (b)          Delivery of Units.  Units shall be deemed delivered under the Plan to the extent they are deemed delivered to a grantee under the terms of the LLC Agreement.

    

    

    (c)          Other Compensation Arrangements; No Employment Rights.  Nothing contained
        in the Plan shall prevent the Board from adopting other or additional compensation arrangements, including trusts, and such arrangements may be either generally applicable or applicable only in specific cases.  The adoption of the Plan and the
        grant of Awards do not confer upon any employee any right to continued employment or any Business Relationship with the LLC or any Subsidiary.

    

    

    (d)          Joinder to LLC Agreement.  As a condition precedent to any grant or issuance of any Units under this Plan, the grantee thereof shall become a party to the LLC Agreement, by
        execution of a joinder agreement thereto in form and substance reasonably satisfactory to the LLC.

    

    

    (e)          Trading Policy Restrictions.  Awards under the Plan shall be subject to such insider trading policy-related restrictions, terms and conditions as may be established by the
        Committee, or in accordance with policies set by the Committee, from time to time.

    

    

    (f)          Designation of Beneficiary.  Each grantee to whom an Award has been made under the Plan may designate a beneficiary or beneficiaries to exercise any Award on or after the
        grantee’s death or receive any payment under any Award payable on or after the grantee’s death.  Any such designation shall be on a form provided for that purpose by the Committee and shall not be effective until received by the Committee.  If no
        beneficiary has been designated by a deceased grantee, or if the designated beneficiaries have predeceased the grantee, the beneficiary shall be the grantee’s estate.

    

    

    SECTION 13.  EFFECTIVE DATE OF PLAN

    

    

    The Plan shall become effective upon the Effective Date.

    

    

    SECTION 14.  GOVERNING LAW

    

    

    This Plan, all Awards and any controversy arising out of or relating to this Plan and all Awards shall be governed by and construed in
      accordance with the laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law
      other than the law of the State of Delaware.

    

    

    SECTION 15.  DISPUTE RESOLUTION;
          CONSENT TO JURISDICTION.

    

    

    ALL DISPUTES BETWEEN OR AMONG ANY PERSONS ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS PLAN, ANY AWARD LETTER OR ANY AWARD UNDER THIS
      PLAN (INCLUDING ANY INTERPRETATION OF THE LLC AGREEMENT AS IT PERTAINS TO THE AWARDS UNDER THIS PLAN) SHALL BE SOLELY AND FINALLY SETTLED BY THE COMMITTEE, THE DETERMINATION OF WHICH SHALL BE FINAL.  ANY MATTERS NOT COVERED BY THE PRECEDING SENTENCE,
      BUT WHICH ARISE UNDER THE LLC AGREEMENT SHALL BE SOLELY AND FINALLY SETTLED IN ACCORDANCE WITH THE DISPUTE RESOLUTION PROVISIONS IN THE LLC AGREEMENT.

  

   

    

  8Exhibit 10.22

    

    

    OBAGI GLOBAL HOLDINGS LIMITED

    2021 STOCK INCENTIVE PLAN

    

    

    	

          	I.	
            PURPOSE OF THE PLAN

          

    

    

    This 2021 Stock Incentive Plan (the “Plan”)
      is intended to promote the interests of Obagi Global Holdings Limited, an exempted company incorporated under the laws of the Cayman Islands (the “Company”),
      by providing eligible persons in the employ or service of the Company or one of its subsidiaries with the opportunity to acquire a proprietary interest, or otherwise increase their proprietary interest, in the Company as an incentive for them to
      continue in such employ or service.

    

    

    	

          	II.	
            DEFINITIONS

          

    

    

    The following definitions shall be in effect under the Plan:

    

    

    A.          Award shall mean an option, a stock award or a restricted stock unit.

    

    

    B.          Award Agreement shall mean the agreement entered into by the Company and the Participant evidencing the Award.

    

    

    C.          Board shall mean the Company’s Board of Directors.

    

    

    D.          Change in Control shall mean a change in ownership or control of the Company effected through any of the following transactions:

    

    

    (i)          a merger, consolidation
        or other reorganization approved by the Company’s shareholders, unless securities representing more than fifty percent (50%) of the total combined voting power of the voting securities of the successor company are immediately thereafter
        beneficially owned, directly or indirectly and in substantially the same proportion, by the persons who beneficially owned the Company’s outstanding voting securities immediately prior to such transaction; or

    

    

    (ii)          a shareholder-approved
        sale, transfer or other disposition of all or substantially all of the Company’s assets in liquidation or dissolution of the Company; or

    

    

    (iii)          the acquisition,
        directly or indirectly by any person or related group of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company), of beneficial ownership of securities
        possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly to the Company’s shareholders.

    

    

    In no event shall any public offering of the Company’s securities be deemed to constitute a Change in Control.

    

    

    E.          Code shall mean the US Internal Revenue Code of 1986, as amended.

    

    

    F.          Committee shall mean a committee of one (1) or more Board members appointed by the Board.

    

    

    G.          Disability shall mean the inability of the Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental
        impairment that is expected to result in death or has lasted or can be expected to last for a continuous period of twelve (12) months or more.

    
      
        

    

    
    

    

    H.         Employee shall mean an individual who is in the employ of the Company (or any Subsidiary), subject to the control and direction of the employer entity as to
        both the work to be performed and the manner and method of performance.

    

    

    I.          Exercise Date shall mean the date on which the Company shall have received written notice of the option exercise.

    

    

    J.          Fair Market Value per Share on any relevant date shall be determined in accordance with the following provisions:

    

    

    (i)          If the Shares are  at
        the time traded on the Nasdaq Capital, Global or Global Select Market, then the Fair Market Value shall be the closing selling price per Share on the date in question, as such price is reported by the National Association of Securities Dealers for
        that particular stock exchange and published in The Wall Street Journal.  If there is no closing selling price for the Shares on the date in
        question, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists.

    

    

    (ii)          If the Shares are at
        the time listed on any other stock exchange, then the Fair Market Value shall be the closing selling price per Share on the date in question on the stock exchange determined by the Plan Administrator to be the primary market for the Shares, as such
        price is officially quoted in the composite tape of transactions on such exchange and published in The Wall Street Journal.  If there is no
        closing selling price for the Shares on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists.

    

    

    (iii)          If the Shares are not
        at the time listed on any stock exchange, then the Fair Market Value shall be determined by the Plan Administrator through the reasonable application of a reasonable valuation method that takes into account the applicable valuation factors set
        forth in the Treasury Regulations issued under Section 409A of the Code; provided, however, that with respect to an Incentive Option, such Fair
        Market Value shall be determined in accordance with the standards of Section 422 of the Code and the applicable Treasury Regulations thereunder.

    

    

    K.         Family Member means, with respect to a particular Participant, any child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
        former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law.

    

    

    L.          Incentive Option shall mean an option which satisfies the requirements of Code Section 422.

    

    

    M.         Involuntary Termination shall mean the termination of the Service of any Participant which occurs by reason of:

    

    

    (i)          such individual’s
        involuntary dismissal or discharge by the Company for reasons other than Misconduct, or

    

    

    (ii)          such individual’s
        voluntary resignation following (A) a change in his or her position with the Company which materially reduces his or her duties and responsibilities or the level of management to which he or she reports, (B) a reduction in his or her level of
        compensation (including base salary, fringe benefits and target bonus under any corporate-performance based bonus or incentive programs) by more than fifteen percent (15%), unless such reduction is a part of a broad-based reduction that is applied
        to all Participants in an equivalent fashion, or (C) a relocation of such individual’s place of employment by more than fifty (50) miles, provided and only if such change, reduction or relocation is effected without the individual’s consent.

    
      2

      
        

    

    

    

    N.          Misconduct shall mean the commission of any act of fraud, embezzlement or dishonesty by the Participant, any unauthorized use or disclosure by such person of
        confidential information or trade secrets of the Company (or any Subsidiary), or any other intentional misconduct by such person adversely affecting the business or affairs of the Company (or any Subsidiary) in a material manner.  The foregoing
        definition shall not in any way preclude or restrict the right of the Company (or any Subsidiary) to discharge or dismiss any Participant or other person in the Service of the Company (or any Subsidiary) for any other acts or omissions, but such
        other acts or omissions shall not be deemed, for purposes of the Plan, to constitute grounds for termination for Misconduct.

    

    

    O.           Non-Statutory Option shall mean an option not intended to satisfy the requirements of Code Section 422.

    

    

    P.            Participant shall mean any person to whom an Award is granted under the Plan.

    

    

    Q.           Plan Administrator shall mean either the Board or the Committee acting in its capacity as administrator of the Plan.

    

    

    R.           Qualifying Transaction shall mean either a Change in Control or an underwritten initial public offering by the Company of its equity securities on a U.S. or
        foreign exchange.

    

    

    S.          Service shall mean the performance of services for the Company (or any Subsidiary, whether now existing or subsequently established) by a person in the capacity
        of an Employee or a non-employee member of the board of directors, except to the extent otherwise specifically provided in the documents evidencing the Award.  For purposes of the Plan, a Participant shall be deemed to cease Service immediately
        upon the occurrence of either of the following events:  (i) the Participant no longer performs services in any of the foregoing capacities for the Company or any Subsidiary or (ii) the entity for which the Participant is performing such services
        ceases to remain a Subsidiary of the Company, even though the Participant may subsequently continue to perform services for that entity.  Service shall not be deemed to cease during a period of military leave, sick leave or other personal leave
        approved by the Company; provided, however, that for a leave that exceeds three (3) months, Service shall be deemed, for purposes of
        determining the period within which any outstanding option held by a Participant may be exercised as an Incentive Option, to cease on the first day immediately following the expiration of such three (3)-month period, unless such Participant is
        provided with the right to return to Service following such leave either by statute or by written contract.  Except to the extent otherwise required by law or expressly authorized by the Plan Administrator or by the Company’s written policy on
        leaves of absence, no Service

    

    

    T.          Share or Shares shall mean an ordinary share or ordinary shares, par value US$ 1.00 per share, in the capital of the Company

    

    

    U.          Subsidiary shall mean any company (other than the Company) in an unbroken chain of companies beginning with the Company, provided each company (other than the
        last company) in the unbroken chain owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other companies in such chain.

    
      3

      
        

    

    

    

    V.          10% Shareholder shall mean the owner of Shares (as determined under Code Section 424(d)) possessing more than ten percent (10%) of the total combined voting
        power of all classes of stock of the Company (or any Subsidiary).

    

    

    	

          	III.	
            AWARDS

          

    

    

    Awards under the Plan may consist of (i) options, (ii) stock awards and (iii) restricted stock units.

    

    

    	

          	IV.	
            ADMINISTRATION OF THE PLAN

          

    

    

    A.          The Plan shall be
        administered by the Board.  However, any or all administrative functions otherwise exercisable by the Board may be delegated to a Committee.  Members of the Committee shall serve for such period of time as the Board may determine and shall be
        subject to removal by the Board at any time.  The Board may also at any time terminate the functions of the Committee and reassume all powers and authority previously delegated to the Committee.

    

    

    B.          The Plan Administrator
        shall have the authority to determine which eligible persons are to receive Awards, the time or times when those Awards are to be made, the number of Shares to be covered by each such Award, the applicable exercise and/or vesting schedule, the
        exercise price or purchase price (if any) to be paid by the Participant, the status of a granted option as either an Incentive Option or a Non-Statutory Option, and the maximum term for which the option is to remain outstanding.

    

    

    C.          The Plan Administrator
        shall have the authority (subject to the provisions of the Plan) to establish such rules and regulations as it may deem appropriate for proper administration of the Plan and to make such determinations under, and issue such interpretations of, the
        Plan and any outstanding Awards thereunder as it may deem necessary or advisable.  Decisions of the Plan Administrator shall be final and binding on all parties who have an interest in the Plan or any Award thereunder.

    

    

    D.          The Plan Administrator may
        from time to time establish one or more sub-plans under the Plan for purposes of satisfying the requirements of local law or to obtain more favorable tax or other treatment with respect to Awards to Participants who reside or work outside of the
        United States.  The Plan Administrator shall establish such sub-plans with such additional terms and conditions as the Plan Administrator shall deem necessary.  All sub-plans adopted by the Plan Administrator shall be deemed to be part of the Plan.

    

    

    	

          	V.	
            ELIGIBILITY

          

    

    

    A.          The persons eligible to
        participate in the Plan are as follows:

    

    

    (i)          Employees;
        and

    

    

    (ii)          non-employee
        members of the Board and the non-employee members of the board of directors of any Subsidiary.

    
      4

      
        

    

    

    

    	

          	VI.	
            STOCK SUBJECT TO THE PLAN

          

    

    

    A.          Subject to adjustment as
        provided in Section VI.D, the maximum number of Shares that may be issued over the term of the Plan shall not exceed 1,500,000 Shares.

    

    

    B.          Shares subject to
        outstanding Awards shall be available for subsequent issuance under the Plan to the extent those Awards expire, terminate or are cancelled for any reason prior to the issuance of the underlying Shares.  Unvested Shares issued under the Plan and
        subsequently forfeited to or repurchased by the Company, at a price per Share not greater than the exercise or purchase price paid per Share, pursuant to the Company’s repurchase rights under the Plan, shall be added back to the number of Shares
        reserved for issuance under the Plan and shall accordingly be available for reissuance through one or more subsequent Awards under the Plan.  For the avoidance of doubt, the following Shares shall not again be made available for subsequent Awards
        under the Plan: (1) Shares withheld by the Company to pay the exercise price of an option, (2) Shares withheld by the Company in satisfaction of the withholding taxes incurred in connection with the issuance, vesting, exercise or settlement of any
        Award, or (3) Shares subject to options cancelled under a repricing program, as described in Section VII.H.

    

    

    C.          Subject to adjustment as
        provided in Section VI.D, the maximum number of Shares that may be issued under the Plan pursuant to Incentive Options shall not exceed 1,200,000 Shares.

    

    

    D.          Should any change be made
        to the Shares by reason of any stock split, stock dividend, spin-off transaction, extraordinary distribution (whether in cash, securities or other property), recapitalization, combination of shares, exchange of shares or other similar transaction
        affecting the outstanding Shares without the Company’s receipt of consideration or in the event of a substantial reduction to the value of the outstanding Shares by reason of a spin-off transaction or extraordinary distribution or in the event of
        any merger, consolidation, reincorporation, or other reorganization, then equitable adjustments shall be made to (i) the maximum number and/or class of securities issuable under the Plan, (ii) the number and/or class of securities and the exercise
        or purchase price per share in effect under each outstanding Award, (iii) the number and/or class of securities subject to forfeiture or the Company’s outstanding repurchase rights under the Plan and the repurchase price payable per share and (iv)
        the maximum number and/or class of securities that may be issued under the Plan pursuant to Incentive Options.  In the event of a Change in Control, the provisions of Section XII shall apply.  The adjustments shall be made by the Plan Administrator
        in such manner as the Plan Administrator deems appropriate, and those adjustments shall be final, binding and conclusive.

    

    

    	

          	VII.	
            TERMS OF OPTIONS

          

    

    

    The Plan Administrator may grant options to eligible Participants upon such terms as it deems appropriate.  Each option shall be
      evidenced by an Award Agreement in the form approved by the Plan Administrator; provided, however, that each such agreement shall comply with the
      terms and conditions of the Plan.

    

    

    A.          Type of Options.  Each option shall be designated in the Award Agreement as either an Incentive Option or a Non-Statutory Option.  Incentive Options may only be
        granted to Employees.

    

    

    B.          Exercise Price.

    

    

    1.          The exercise price per
        share shall be fixed by the Plan Administrator but shall not be less than one hundred percent (100%) of the Fair Market Value per Share on the option grant date; provided, however, if any Employee to whom an Incentive Option is granted is a 10% Shareholder, then the exercise price per Share shall not be less than one hundred ten percent (110%) of the Fair Market Value per Share
        on the option grant date.

    
      5

      
        

    

    

    

    2.          The exercise price shall
        be payable in one or more of the following forms as determined by the Plan Administrator and specified in the Award Agreement:

    

    

    (i)          cash
        or check made payable to the Company;

    

    

    (ii)          a
        promissory note payable to the Company having such recourse, interest, security and repayment terms as the Plan Administrator deems appropriate after taking into account the tax and accounting consequences of permitting the use of a promissory note
        and subject to the applicable requirements of applicable law;

    

    

    (iii)          by
        having the Company withhold a number of Shares otherwise deliverable pursuant to the exercise of the option with such withheld Shares valued at Fair Market Value on the Exercise Date;

    

    

    (iv)          should
        the Shares be registered under Section 12 of the 1934 Act at the time the option is exercised, in Shares valued at Fair Market Value on the Exercise Date and held for the period (if any) necessary to avoid a charge to the Company’s earnings for
        financial reporting purposes; or

    

    

    (v)          should
        the Shares be registered under Section 12 of the 1934 Act at the time the option is exercised and only to the extent the option is exercised for vested Shares, through a special sale and remittance procedure pursuant to which the Participant shall
        concurrently provide irrevocable instructions (A) to a brokerage firm (with such brokerage firm reasonably satisfactory to the Company for purposes of administering such procedure in compliance with any applicable pre-clearance or pre-notification
        requirements) to effect the immediate sale of the purchased Shares and remit to the Company, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate exercise price payable for the purchased Shares plus all
        applicable taxes required to be withheld by the Company by reason of such exercise and (B) to the Company to deliver the certificates for the purchased Shares directly to such brokerage firm on the settlement date in order to complete the sale.

    

    

    Except to the extent a sale and remittance procedure is utilized, payment of the exercise price for the purchased Shares must be made on
      the Exercise Date.

    

    

    3.          The Plan Administrator
        shall have the discretion (exercisable at any time) to permit the exercise price of an outstanding option to be paid in one or more of the forms specified in Section VII.B.2.

    

    

    C.          Exercise and Term of Options.  Each option shall be exercisable at such time or times, during such period and for such number of Shares as shall be determined
        by the Plan Administrator.  No option shall have a term in excess of ten (10) years measured from the option grant date.  If any Employee to whom an Incentive Option is granted is a 10% Shareholder, then the option term shall not exceed five (5)
        years measured from the option grant date.

    

    

    D.          Effect of Termination of Service.

    

    

    1.          The following provisions
        shall govern the exercise of any options held by the Participant at the time of cessation of Service or death:

    

    

    (i)          Should
        the Participant cease to remain in Service for any reason other than death, Disability or Misconduct, then the Participant shall have a period of three (3) months from the date of such cessation of Service during which to exercise each outstanding
        option held by such Participant; provided, however, that if the vesting of any installment of such option is based upon the consummation of a
        Qualifying Transaction prior to the expiration date of such option, which has not yet occurred, and all other vesting requirements with respect to such option have been fulfilled at the time of cessation of Service, then the Participant shall have
        forty-five (45) days from the date of the Qualifying Transaction in which to exercise any such installment of the option.

    
      6

      
        

    

    

    

    (ii)          Should
        the Participant’s Service terminate by reason of Disability, then the Participant shall have a period of twelve (12) months from the date of such cessation of Service during which to exercise each outstanding option held by such Participant provided, however, that if the vesting of any installment of such option is based upon the consummation of a Qualifying Transaction prior to the
        expiration date for such option, which has not yet occurred, and all other vesting requirements with respect to such option have been fulfilled at the time of cessation of Service due to a Disability, then the Participant shall have twelve (12)
        months from the date of the Qualifying Transaction in which the exercise any such option.

    

    

    (iii)          If
        the Participant dies while holding an outstanding option, then the personal representative of his or her estate or the person or persons to whom the option is transferred pursuant to the Participant’s will or the laws of inheritance or, if
        beneficiary designations are permitted and have been validly made, the Participant’s designated beneficiary or beneficiaries of that option shall have a twelve (12)-month period from the date of the Participant’s death to exercise such option provided, however, that if the vesting of any installment of such option is based upon the consummation of a Qualifying Transaction prior to the
        expiration date for such option, which has not yet occurred, and all other vesting requirements with respect to such option have been fulfilled at the time of the Participant’s death, then Participant’s designated beneficiary or beneficiaries shall
        have twelve (12) months from the date of the Qualifying Transaction in which to exercise any such option.

    

    

    (iv)          Under
        no circumstances, however, shall any such option be exercisable after the specified expiration of the option term.

    

    

    (v)          During
        the applicable post-Service exercise period, the option may not be exercised in the aggregate for more than the number of vested Shares for which the option is exercisable at the time of cessation of the Participant’s Service or death.  No
        additional Shares shall vest under the option following the Participant’s cessation of Service, except to the extent (if any) specifically authorized by the Plan Administrator in its sole discretion pursuant to an express written agreement with the
        Participant.  Upon the expiration of the applicable exercise period or (if earlier) upon the expiration of the option term, the option shall terminate and cease to be outstanding.

    

    

    (vi)          Should
        the Participant’s Service be terminated for Misconduct or should the Participant otherwise engage in Misconduct while holding one or more outstanding options under the Plan, then all those options shall terminate immediately and cease to remain
        outstanding.

    

    

    2.          The Plan Administrator
        shall have the discretion, exercisable either at the time an option is granted or at any time while the option remains outstanding, to:

    

    

    (i)          extend
        the period of time for which the option is to remain exercisable following the Participant’s Involuntary Termination from the limited period otherwise in effect for that option to such greater period of time as the Plan Administrator shall deem
        appropriate, but in no event beyond the expiration of the option term, and/or

    

    

    (ii)          permit
        the option to be exercised, during the applicable post-Service exercise period, not only with respect to the number of vested Shares for which such option is exercisable at the time of the Participant’s cessation of Service or death but also with
        respect to one or more additional installments in which the Participant would have vested under the option had the Participant continued in Service.

    
      7

      
        

    

    

    

    E.          Unvested Shares.  The Plan Administrator shall have the discretion to grant options that are exercisable for unvested Shares.  Should the Participant cease
        Service while holding such unvested Shares, the Company shall have the right to repurchase any or all of those unvested Shares at a price per Share equal to the lower of (i) the exercise price paid per Share or (ii) the Fair Market Value per Share
        at the time of the Participant’s cessation of Service.  The terms upon which such repurchase right shall be exercisable (including the period and procedure for exercise and the appropriate vesting schedule for the purchased Shares) shall be
        established by the Plan Administrator and set forth in the document evidencing such repurchase right.

    

    

    F.          Shareholder Rights.  The holder of an option shall have no shareholder rights with respect to the Shares subject to the option until such person shall have
        exercised the option and paid the exercise price and such person’s name appears in the register of members of the Company.

    

    

    G.          Limits on Incentive Options.  The aggregate Fair Market Value of the Shares (determined as of the respective date or dates of grant) for which one or more
        options granted to any Employee under the Plan (or any other option plan of the Company or any Subsidiary) may for the first time become exercisable as Incentive Options during any one (1) calendar year shall not exceed the sum of One Hundred
        Thousand Dollars ($100,000).  To the extent the Employee holds two (2) or more such options that become exercisable for the first time in the same calendar year, the foregoing limitation on the exercisability of such options as Incentive Options
        shall be applied on the basis of the order in which such options are granted, except to the extent otherwise provided under applicable law or regulation.

    

    

    H.          Repricing Program.  The Plan Administrator shall have the authority to effect, at any time and from time to time, with the consent of the affected option
        holders, the cancellation of any or all outstanding options under the Plan and to grant in substitution therefor new options covering the same or different number of Shares but with an exercise price per Share based on the Fair Market Value per
        Share on the new option grant date.

    

    

    	

          	VIII.	
            TERMS OF STOCK AWARDS

          

    

    

    The Plan Administrator may issue Shares to eligible persons upon such terms as it deems appropriate.  Each such stock issuance shall be
      evidenced by an Award Agreement in the form approved by the Plan Administrator; provided, however, that each such agreement shall comply with the
      terms and conditions of the Plan.

    

    

    A.          Consideration.  Shares may be issued under the Plan for any of the following items of consideration, which the Plan Administrator may deem appropriate in each
        individual instance:

    

    

    1.          cash or check made
        payable to the Company;

    

    

    2.          past Services rendered to
        the Company (or any Subsidiary);

    

    

    3.          a promissory note payable
        to the Company having such recourse, interest, security and repayment terms as the Plan Administrator deems appropriate after taking account the tax and accounting consequences of permitting the use of a promissory note and subject to the
        applicable requirements of applicable law; or

    

    

    4.          any other valid
        consideration under applicable law.

    
      8

      
        

    

    

    

    B.          Vesting Provisions.

    

    

    1.          Shares issued under the
        Plan may, in the discretion of the Plan Administrator, be fully and immediately vested upon issuance or may vest in one or more installments over the Participant’s period of Service or upon attainment of specified performance objectives, including
        but not limited to the consummation of a Qualifying Transaction.

    

    

    2.          Any new, substituted or
        additional securities or other property (including money paid other than as a regular cash dividend) which the Participant may have the right to receive with respect to the Participant’s unvested Shares by reason of any stock dividend, stock split,
        spin-off transaction, extraordinary distribution (whether in cash, securities or other property), recapitalization, reincorporation, combination of shares, exchange of shares or other similar change affecting the outstanding Shares as a class
        without the Company’s receipt of consideration shall be issued subject to (i) the same vesting requirements applicable to the Participant’s unvested Shares and (ii) such escrow arrangements as the Plan Administrator shall deem appropriate.

    

    

    3.          Should the Participant
        cease to remain in Service while holding one or more unvested Shares issued under the Plan or should the performance objectives not be attained with respect to one or more such unvested Shares, then those shares shall be immediately surrendered to
        the Company for cancellation, and the Participant shall have no further shareholder rights with respect to those Shares; provided, however,
        that if the vesting of such Shares is based upon the consummation of a Qualifying Transaction prior to the expiration of the stated performance period, which has not yet occurred, and all other vesting requirements with respect to such Shares have
        been met, then such Shares will not be cancelled and may be retained by Participant.  To the extent the surrendered Shares were previously issued to the Participant for consideration paid in cash or cash equivalent (including the Participant’s
        purchase-money indebtedness), the Company shall repay to the Participant the lower of (i) the cash consideration paid for the surrendered Shares or (ii) the Fair Market Value of those Shares at the time of the Participant’s cessation of Service and
        shall cancel the unpaid principal balance of any outstanding purchase-money note of the Participant attributable to such surrendered Shares by the applicable clause (i) or (ii) amount.

    

    

    4.          The Plan Administrator
        may in its discretion waive the surrender and cancellation of one or more unvested Shares (or other assets attributable thereto) that would otherwise occur upon the non-completion of the vesting schedule applicable to those Shares.  Such waiver
        shall result in the immediate vesting of the Participant’s interest in the Shares as to which the waiver applies.  Such waiver may be effected at any time, whether before or after the Participant’s cessation of Service or the attainment or
        non-attainment of the applicable performance objectives.

    

    

    C.          Shareholder Rights.  The Participant shall have full shareholder rights with respect to any Shares issued to the Participant under a stock award, whether or not
        the Participant’s interest in those shares is vested.  Accordingly, the Participant shall have the right to vote such Shares and to receive any regular cash dividends paid on such Shares.

    
      9

      
        

    

    

    

    	

          	IX.	
            TERMS OF RESTRICTED STOCK UNITS

          

    

    

    The Plan Administrator may grant restricted stock units to eligible Participants that entitle the Participants to receive the Shares
      underlying those awards upon vesting or upon the expiration of a designated time period following the vesting of those awards.  Each award of restricted stock units shall be evidenced by one or more Award Agreements in the form approved by the Plan
      Administrator; provided, however, that each such agreement shall comply with the terms and conditions of the Plan.

    

    

    A.          Vesting Provisions.

    

    

    1.          Restricted stock units
        may, in the discretion of the Plan Administrator, vest in one or more installments over the Participant’s period of Service or upon the attainment of specified performance objectives, including but not limited to the consummation of a Qualifying
        Transaction prior to the expiration of the stated performance period.

    

    

    2.          Outstanding restricted
        stock units shall automatically terminate, and no Shares shall actually be issued in satisfaction of those Awards, if the performance goals or Service requirements established for those awards are not attained or satisfied.  The Plan Administrator,
        however, shall have the discretionary authority to issue vested Shares under one or more outstanding awards of restricted stock units as to which the designated performance goals or Service requirements have not been attained or satisfied.

    

    

    B.          Shareholder Rights.  The Participant shall not have any shareholder rights with respect to the Shares subject to a restricted stock units award until that award
        vests and the Shares are actually issued thereunder.

    

    

    C.          Effect of Termination of Service. Upon cessation of Service of a Participant, any outstanding but unvested restricted stock units shall automatically terminate
        and no additional Shares shall vest under the restricted stock units, except (i) if the vesting of such restricted stock units is based upon the consummation of a Qualifying Transaction prior to the expiration of the stated performance period,
        which has not yet occurred, and all other vesting requirements with respect to such restricted stock units have have been met, then such restricted stock units shall not terminate and may be retained by Participant until the consummation of the
        Qualifying Transaction, at which time the underlying Shares will vest, and (ii) to the extent (if any) otherwise specifically authorized by the Plan Administrator in its sole discretion pursuant to an express written agreement with the
        Participant.  Under no circumstances, however, shall any unvested restricted stock units vest after the expiration of the longest service period or performance period stated in the Award.

    

    

    	

          	X.	
            TRANSFERABILITY OF AWARDS

          

    

    

    A.          Except as provided below,
        Awards, together with the Shares subject to the Awards, shall not be assignable or transferable other than by will or by the laws of inheritance following the Participant’s death.

    

    

    B.          However, a Non-Statutory
        Option may to the extent permitted by the Plan Administrator be assigned in whole or in part during the Participant’s lifetime by gift or pursuant to a domestic relations order to one or more of the Participant’s Family Members or to a trust
        established exclusively for the Participant and/or one or more such Family Members.  The assigned portion may only be exercised by the person or persons who acquire a proprietary interest in the Non-Statutory Option pursuant to the assignment. The
        terms applicable to the assigned portion shall be the same as those in effect for the option immediately prior to such assignment and shall be set forth in such documents issued to the assignee as the Plan Administrator may deem appropriate.

    

    

    C.          Notwithstanding the
        foregoing, the Participant may also, to the extent permitted by the Plan Administrator and subject to applicable law, designate one or more Family Members as the beneficiary or beneficiaries of his or her outstanding Awards under the Plan, and
        those Awards shall, in accordance with such designation, automatically be transferred to such beneficiary or beneficiaries upon the Participant’s death while holding those Awards.  Such beneficiary or beneficiaries shall take the transferred Awards
        subject to all the terms and conditions of the applicable agreement evidencing each such transferred Award.

    
      10

      
        

    

    

    

    D.          Prior to the date the
        Company’s Shares first become eligible for purchase by the public through a stock exchange outstanding options under the Plan, together with the Shares subject to those options during the period prior to exercise, shall not be the subject of any
        short position, put equivalent position (as such term is defined in Rule 16a-1(h) under the 1934 Act) or call equivalent position (as such term is defined Rule 16a-1(b) of the 1934 Act).

    

    

    E.          Except as otherwise
        provided above, until the date the Company’s Shares first become eligible for purchase by the public  through a stock exchange, outstanding options under the Plan, together with the Shares subject to those options during the period prior to
        exercise, shall not be the subject of any pledges, gifts, hypothecations or other transfers, other than pursuant to the Company’s repurchase rights or in connection with a Change in Control in which such options shall terminate and cease to be
        outstanding.

    

    

    	

          	XI.	
            RESTRICTIONS ON SHARES; RECOUPMENT

          

    

    

    A.          Until such time as the
        Company’s Shares first become eligible for purchase by the public  through a stock exchange the Company shall have the right of first refusal with respect to any proposed disposition by the Participant (or any successor in interest) of any Shares
        issued under the Plan.  Such right of first refusal shall be exercisable in accordance with the terms established by the Plan Administrator and set forth in the document evidencing such right.

    

    

    B.          In connection with any
        underwritten public offering by the Company of its equity securities, the Participant (or any successor in interest) shall be subject to transferability and market stand-off restrictions with respect to any Shares issued under the Plan in
        accordance with the terms established by the Plan Administrator and set forth in the document evidencing the issuance of such Shares.

    

    

    C.          The Plan Administrator may
        require that a Participant (or any successor in interest) execute a shareholder agreement, with such terms as the Plan Administrator deems appropriate, with respect to any Shares issued to the Participant pursuant to the Plan.

    

    

    D.          Unvested Shares may, in
        the Plan Administrator’s discretion, be held in escrow by the Company until the Participant’s interest in such Shares vests or may be issued directly to the Participant with restrictive legends on the certificates evidencing those unvested Shares.

    

    

    E.          In the event of any
        transfer by operation of law or other involuntary transfer (including death or divorce) of all or a portion of Shares held by a Participant, the Company shall have the right to purchase any or all of the Shares transferred at the Fair Market Value
        of the Shares on the date of transfer (as determined by the Plan Administrator in its sole discretion).  Upon such a transfer, the Participant shall promptly notify the Company of such transfer.  The right to purchase such Shares shall be provided
        to the Company for a period of 30 days following receipt by the Company of written notice from the Participant.

    

    

    F.          Subject to the
        requirements of applicable law, and to the extent the Company has not implemented a clawback or recoupment policy outside of the Plan that is applicable to a Participant, if a Participant is terminated by the Company due to Misconduct resulting
        from the Participant’s commission of any act of fraud or embezzlement then, (1) all Awards held by the Participant shall terminate immediately and cease to remain outstanding, and (2) the Plan Administrator may require that the Participant return
        to the Company any Shares received upon the exercise of any option or any Shares acquired upon the vesting and issuance of Shares under any other Award.

    
      11

      
        

    

    

    

    	

          	XII.	
            CHANGE IN CONTROL

          

    

    

    A.          In the event of a Change
        in Control, each outstanding Award, as determined by the Plan Administrator in its sole discretion, may be (i) assumed by the successor corporation (or parent thereof), (ii) canceled and substituted with an Award granted by the successor
        corporation (or parent thereof), (iii) otherwise continued in full force and effect pursuant to the terms of the Change in Control transaction, (iv) replaced with a cash retention program of the Company or any successor corporation that preserves
        the spread existing on the unvested Shares subject to the Award at the time of the Change in Control (the excess of the Fair Market Value of those Shares over the aggregate purchase price payable for such Shares) and, subject to Section XII.C,
        provides for subsequent payout of that spread in accordance with the same exercise/vesting schedule applicable to those unvested Award Shares, but only if such replacement cash program would not result in the treatment of the Award as an item of
        deferred compensation subject to Code Section 409A, or (v) cancelled and terminated and the holder of such Award shall become entitled to receive, upon consummation of the Change in Control and subject to Section XII.C, a lump sum cash payment in
        an amount equal to the product of (A) the number of Shares subject to such Award and (B) the excess of (I) the Fair Market Value per Share on the date of the Change in Control over (II) the per share exercise price or purchase price in effect for such Award.  However, any such Award shall be subject to cancellation and termination, without cash payment or other consideration due the
        Award holder, if the Fair Market Value per Share on the date of such Change in Control is less than the per share exercise price or purchase price in effect for such Award.

    

    

    B.          To the extent an
        outstanding Award is not assumed, substituted, continued or replaced in accordance with Section XII.A, the Plan Administrator may determine, in its sole discretion, that such Award shall automatically vest in full or in part immediately prior to
        the effective date of the Change in Control.

    

    

    C.          The Plan Administrator
        shall have the authority to provide that any escrow, holdback, earn-out or similar provisions in the definitive agreement effecting the Change in Control shall apply to any cash payment made pursuant to Section XII.A(iv) or Section XII.A(v) to the
        same extent and in the same manner as such provisions apply to a holder of a Share.

    

    

    D.          To the extent an
        outstanding Award is assumed in connection with a Change in Control or otherwise continued in effect, and the repurchase rights applicable to those shares do not otherwise terminate, the Shares subject to such Award will automatically vest on an
        accelerated basis should the Participant’s Service terminate by reason of an Involuntary Termination within three months prior to, or 12 months following, the effective date of any Change in Control, but only to the extent such vesting complies
        with Code Section 409A.

    

    

    E.          Immediately following the
        consummation of the Change in Control, all outstanding Awards shall terminate and cease to be outstanding, except to the extent assumed by the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the
        terms of the Change in Control transaction.

    

    

    F.          In the event of any Change
        in Control, the Plan Administrator, in its sole discretion, may determine that outstanding repurchase rights are, in full or in part, (i) to be assigned to the successor corporation (or parent thereof) or otherwise continued in full force and
        effect pursuant to the terms of the Change in Control transaction or (ii) to be terminated and the Shares subject to those terminated rights are to immediately vest in full.

    
      12

      
        

    

    

    

    G.          Each Award that is assumed
        in connection with a Change in Control or otherwise continued in effect shall be appropriately adjusted, immediately after such Change in Control, to apply to the number and class of securities into which the Shares subject to that Award would have
        been converted in consummation of such Change in Control had those Shares actually been outstanding at that time.  Appropriate adjustments shall also be made to (i) the number and class of securities available for issuance under the Plan following
        the consummation of such Change in Control and (ii) the exercise price or purchase price payable per share under each outstanding Award, provided the aggregate exercise price or purchase price payable for such securities shall remain the same.  To
        the extent the actual holders of the Company’s outstanding Shares receive cash consideration for their Shares in consummation of the Change in Control, the successor corporation (or parent thereof) may, in connection with the assumption or
        continuation of the outstanding Awards and subject to the Plan Administrator’s approval, substitute one or more Shares of its own stock with a fair market value equivalent to the cash consideration paid per Share in such Change in Control.

    

    

    H.          The Plan Administrator
        shall have the discretion, exercisable either at the time an Award is granted or at any time while an Award remains outstanding, to structure such Award so that all or a portion of the Award shall automatically accelerate and vest (and any
        repurchase rights of the Company with respect to the unvested Shares subject to that Award that become vested on such accelerated basis shall immediately terminate) upon the occurrence of a Change in Control, whether or not such Award is to be
        assumed in the Change in Control or otherwise continued in effect.

    

    

    I.          The portion of any
        Incentive Option accelerated in connection with a Change in Control shall remain exercisable as an Incentive Option only to the extent the applicable One Hundred Thousand Dollar ($100,000) limitation is not exceeded.  To the extent such dollar
        limitation is exceeded, the accelerated portion of such option shall be exercisable as a Non-Statutory Option under the Federal tax laws.

    

    

    J.          The grant of Awards under
        the Plan shall in no way affect the right of the Company to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or
        assets.

    

    

    	

          	XIII.	
            EFFECTIVE DATE, AMENDMENT AND TERMINATION OF PLAN

          

    

    

    A.          The Plan shall become
        effective when adopted by the Board, but no option granted under the Plan may be exercised, and no Shares shall be issued under the Plan, until the Plan is approved by the Company’s shareholders.  If such shareholder approval is not obtained within twelve (12) months after the date of the Board’s adoption of the Plan, then all Awards previously granted under the Plan shall terminate and
        cease to be outstanding, and no further Awards shall be granted and no Shares shall be issued under the Plan.  Subject to such limitation, the Plan Administrator may grant Awards and issue Shares under the Plan at any time after the effective date
        of the Plan and before the date fixed herein for termination of the Plan.

    

    

    B.          The Board shall have
        complete and exclusive power and authority to amend or modify the Plan in any or all respects.  However, no such amendment or modification shall adversely affect the rights and obligations with respect to Awards at the time outstanding under the
        Plan unless the Participant consents to such amendment or modification.  In addition, certain amendments may require shareholder approval pursuant to applicable laws and regulations.

    
      13

      
        

    

    

    

    C.          Awards may be granted
        under the Plan that are in excess of the number of Shares then available for issuance under the Plan, provided any excess Shares actually issued shall be held in escrow until there is obtained shareholder approval of an amendment sufficiently
        increasing the number of Shares available for issuance under the Plan.  If such shareholder approval is not obtained within twelve (12) months after the date the first such excess Awards are made, then (i) any unexercised options and unvested
        restricted stock units granted on the basis of such excess Shares shall terminate and cease to be outstanding and (ii) the Company shall promptly refund to the Participants the exercise price or purchase price paid for any excess Shares issued
        under the Plan and held in escrow, together with interest (at the applicable short term rate of the US Federal Reserve) for the period the Shares were held in escrow, and such Shares shall thereupon be automatically cancelled and cease to be
        outstanding.

    

    

    D.          The Plan shall terminate
        upon the earliest of (i) the expiration of the ten (10)-year period measured from the date the Plan is adopted by the Board, (ii) the date on which all Shares available for issuance under the Plan shall have been issued as vested Shares or (iii)
        the termination of all outstanding Awards under the Plan in connection with a Change in Control.  All Awards outstanding at the time of a clause (i) termination event shall continue to have full force and effect in accordance with the provisions of
        the documents evidencing those Awards.

    

    

    	

          	XIV.	
            GENERAL

          

    

    

    A.          Any cash proceeds received
        by the Company from the sale of Shares under the Plan shall be used for general corporate purposes.

    

    

    B.          The Company’s obligation
        to deliver Shares upon the exercise of any options granted under the Plan or upon the issuance or vesting of any shares issued under the Plan shall be subject to the satisfaction of all applicable tax withholding requirements.

    

    

    C.          The implementation of the
        Plan, the granting of any Awards under the Plan and the issuance of any Shares under an Award shall be subject to the Company’s procurement of all approvals and permits required by regulatory authorities having jurisdiction over the Plan, the
        Awards granted under it and the Shares issued pursuant to it.

    

    

    D.          Nothing in the Plan shall
        confer upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Subsidiary employing or retaining such person) or of the
        Participant, which rights are hereby expressly reserved by each, to terminate such person’s Service at any time for any reason, with or without cause.

    

    

    E.          If required under
        applicable law, the Company shall provide to each option holder financial statements as required. Such obligation shall continue until such time as the Company’s Shares first become eligible for purchase by the public through a stock exchange.  The
        Company may require that option holders agree to keep any financial information so provided confidential.

    

    

    F.          The Plan is intended to
        comply with the requirements of section 409A of the Code and the regulations thereunder (“Section 409A”), to the extent applicable.  Each Award shall be construed and administered such that the Award either (1) qualifies for an exemption from the
        requirements of Section 409A or (2) satisfies the requirements of Section 409A.  If an Award is subject to Section 409A, (i) distributions shall only be made in a manner and upon an event permitted under Section 409A, (ii) payments to be made upon
        a termination of employment or service shall only be made upon a “separation from service” under Section 409A, (iii) unless the Award Agreement specifies otherwise, each installment payment shall be treated as a separate payment and each payment
        shall be treated as a separate payment for purposes of Section 409A, and (iv) in no event shall a Participant, directly or indirectly, designate the calendar year in which a distribution is made except in accordance with Section 409A.  Any Award
        that is subject to Section 409A and that is to be distributed to a Key Employee (as defined below) upon separation from service shall be administered so that any distribution with respect to such Award shall be postponed for six months following
        the date of the Participant’s separation from service, if required by Section 409A.  If a distribution is delayed pursuant to Section 409A, the distribution shall be paid within 15 days after the end of the six-month period.  If the Participant
        dies during such six-month period, any postponed amounts shall be paid within 90 days of the Participant’s death.  The determination of Key Employees, including the number and identity of persons considered Key Employees and the identification
        date, shall be made by the Plan Administrator or its delegate each year in accordance with section 416(i) of the Code and the “specified employee” requirements of Section 409A.  Notwithstanding anything in the Plan or any Award Agreement to the
        contrary, each Participant shall be solely responsible for the tax consequences of Awards under the Plan, and in no event shall the Company or any Subsidiary or affiliate of the Company have any responsibility or liability if an Award does not meet
        any applicable requirements of Section 409A.  Although the Company intends to administer the Plan to prevent taxation under Section 409A, the Company does not represent or warrant that the Plan or any Award complies with any provision of federal,
        state, local or other tax law.

  

   

    

  14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}]]