Document:

Exhibit
10.3

 

Parties
and Background

 

[*]
Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively
harmful if publicly disclosed.

 

IP
Licence Agreement

 

	Agreement
    dated	2017

 

 

Parties

 

	Licensor

     
	Name

     
	Immix
    Biopharma, Inc.

     

	 	Entity
    Number

     
	C3640625

     

	 	Address	11150
    West Olympic Boulevard, Suite 1120,

    Los
    Angeles California 90064 United States

    

	 	 	 
	Licensee	Name	Immix
    Biopharma Australia Pty Ltd

     

	 	ACN	613
    951 536

     

	 	Address	C/-
    CoSec Consulting, 58 Gipps Street,

    Collingwood,
    Victoria 3006, Australia

    

 

 

Background

 

	A.	The
                                            Licensor is the owner of the Intellectual Property.

 

	B.	The
                                            Licensor has licenced or agreed to licence the Intellectual Property to the Licensee on and
                                            subject to the terms of this Agreement, with effect from the Commencement Date.

 

    	1

     

    

 

Operative
Part

 

 

	1.	Interpretation

 

	1.1	Definitions

 

Meanings
apply to capitalised terms used in this Agreement as specified in this provision, unless the context otherwise requires:

 

Agreement
means this ‘IP Licence Agreement’;

 

Authorised
Officer means any director, secretary or person notified in that capacity by any party to this Agreement in or under any provision
of this Agreement to any other party to this Agreement, without withdrawal or cancellation of that notification as at that time;

 

Business
Day means a day that is not a Saturday, Sunday or public holiday in Melbourne in the State of Victoria, Australia;

 

Calendar
Quarter means each period of three (3) consecutive months ending on 31 March, 30 June, 30 September and 31 December in each year
of the Term;

 

Commencement
Date means the earlier of the date of this Agreement and the date on which the Licensee commenced use of any of the Intellectual
Property;

 

Confidential
Information has the meaning given to that term in clause 12.1;

 

Developed
Intellectual Property means all pre-clinical and clinical trial data, results, conclusions, dosing amounts, dosing schedules and
other pre-clinical and clinical knowledge which is newly and uniquely created or developed by activities registered with AusIndustry
for the purposes of the research and development tax incentive and which are managed or controlled by the Licensee;

 

Governmental
Agency means any governmental, semi-governmental, administrative, fiscal, municipal, local, judicial or regulatory agency, department,
instrumentality, body, utility, authority, commission, court or tribunal;

 

GST
means any Tax under any GST Law;

 

GST
Law has the meaning defined in section 195-1 of A New Tax System (Goods and Services Tax) Act 1999 (Cth);

 

Insolvency
Event means the occurrence of any one or more of the following events in relation to any person:

 

		(a)	having
                                            a receiver and/or manager appointed over any of its assets and property;

 

		(b)	having
                                            a liquidator appointed (whether under a creditor’s petition voluntary liquidation or
                                            otherwise);

 

    	2

     

    

 

Operative
Part

 

		(c)	passing
                                            a resolution for winding-up (otherwise than for a purpose of amalgamation or reconstruction);

 

		(d)	an
                                            administrator or a controller being appointed to any of its assets;

 

		(e)	entering
                                            into any composition or arrangement with its creditors, or an assignment for the benefit
                                            of one or more of its creditors; or

 

		(f)	it
                                            proposing a reorganisation, moratorium, deed of company arrangement or other administration
                                            involving one or more of its creditors, or its winding up or dissolution

 

		(g)	it
                                            being insolvent as disclosed in its accounts or otherwise, stating that it is insolvent or
                                            it is presumed to be insolvent under an applicable law;

 

		(h)	a
                                            writ of execution being levied against it or its property; or

 

		(i)	anything
                                            occurs under the law of any jurisdiction which has a substantially similar effect to any
                                            of the above paragraphs of this definition;

 

Licence
Fee means the licence fee as defined in clause 4.1;

 

Licensor’s
Intellectual Property means the intellectual property comprising:

 

		(j)	the
                                            invention known as Imx-110, being derived from the subject of Patent Application number PCT/US2013/032153
                                            filed on March 15, 2013;

 

		(a)	any
                                            patent application(s) filed as a continuation, division, or continuation-in-part of any patent
                                            or patent application referred to in (a) above;

 

		(b)	any
                                            reissues, re-examinations and extensions of any of the patents or patent applications described
                                            in (a) or (b) above;

 

		(c)	any
                                            foreign counterpart to a patent in (a) or (b) above;

 

		(d)	all
                                            other information inventions, data, formulas, processes, developments, technology, trade
                                            secrets, know-how and other intellectual property of the Licensor which is necessary for
                                            the Licensee to effectively conduct or facilitate clinical trials and otherwise pursue the
                                            commercialisation of the invention referred to in (a) above;

 

Net
Sales means the gross amount billed or invoiced by the Licensee to, and paid by, third parties in respect of commercialisation of
the Intellectual Property and any Developed Intellectual Property within the Territory less the actual costs expenses and any Taxes incurred
by the Licensee in respect of the same as well as any administrative expenses, depreciation and insurance;

 

    	3

     

    

 

Operative
Part

 

Purpose
means conduct or facilitation of research, development or clinical trials of, using or in connection with the Licensor’s Intellectual
Property;

 

Tax
includes any tax, duty, charge or rate imposed or assessed under any legislation or by any Governmental Agency, together with any
associated interest, penalty, fine, fee or other charge;

 

Term
means the period from the Commencement Date to the date of termination of this Agreement in accordance with clause 2; and

 

Territory
means the Commonwealth of Australia.

 

	1.2	Interpretation

 

Rules
of interpretation apply to this Agreement as specified in this provision, unless the context otherwise requires:

 

		(a)	(headings):
                                            headings and subheadings are for convenience only and do not affect interpretation;

 

		(b)	(plurality):
                                            words denoting the singular number include the plural, and the converse also applies;

 

		(c)	(variants):
                                            a defined word or expression has corresponding effect in relation to its other grammatical
                                            forms;

 

		(d)	(parties):
                                            any reference to a party to any agreement or document includes its executors, administrators,
                                            legal personal representatives, successors and permitted assigns and substitutes by way of
                                            assignment or novation;

 

		(e)	(provisions):
                                            any reference to a provision, comprising a clause or schedule is a reference to a provision
                                            of this Agreement, including each clause, subclause, paragraph and subparagraph of that provision,
                                            and any reference to this Agreement includes all provisions of this Agreement; and

 

		(f)	(legislation):
                                            any reference to any legislation includes a reference to that legislation as amended, re-enacted,
                                            consolidated or replaced at any time, and includes all regulations, delegations, instruments
                                            and orders made under it.

 

 

	2.	Term

 

	2.1	Termination

 

This
Agreement commenced on the Commencement Date and will continue until:

 

		(a)	terminated
                                            in accordance with clause 5; or

 

    	4

     

    

 

Operative
Part

 

		(b)	either
                                            party gives the other party not less than 20 days’ notice of termination in writing.

 

	2.2	Delivery
    of intellectual property and Confidential Information

 

Upon
the expiration or termination of this Agreement for any reason the Licensee will promptly deliver to the Company all:

 

		(a)	Licensor’s
                                            Intellectual Property;

 

		(b)	Developed
                                            Intellectual Property, including all work in progress on any Developed Intellectual Property
                                            not previously delivered to Company, if any; and

 

		(c)	Confidential
                                            Information and other intellectual property in Licensee’s possession or control which
                                            the Licensee obtained or developed in connection with this Agreement.

 

	2.3	Final
    Payment

 

On
termination of this Agreement, the Company will pay to the Licensee any accrued but unpaid License Fee due and payable to the Licensee
pursuant to clause 4.

 

 

	3.	Licence

 

	3.1	Licence

 

In
consideration of payment of the Licence Fee, the Licensor hereby grants to the Licensee a nonexclusive, non-transferable licence to use
the Licensor’s Intellectual Property within the Territory solely for the Purpose during the Term.

 

	3.2	Licensor’s
    Obligations

 

		(a)	The
                                            Licensor will, in consultation with the Licensee, (to ensure that the Licensee’s rights
                                            are protected), diligently pursue all applications to register any Intellectual Property
                                            in the Territory and elsewhere which are capable of such registration.

 

		(b)	All
                                            costs incurred by the Licensee in complying with its obligations under 3.2(a) shall be borne
                                            by the Licensee.

 

		(c)	The
                                            Licensor shall keep the Licensee informed of all progress in connection with applications
                                            to register any Intellectual Property in accordance with clause 3.2(a).

 

		(d)	The
                                            Licensor must not do or cause anything to be done that may adversely affect the rights of
                                            the Licensee under this Agreement.

 

    	5

     

    

 

Operative
Part

 

		(e)	The
                                            Licensor will maintain any registration of the Intellectual Property in all relevant jurisdictions
                                            where they are registered and do so at the expense of the Licensee.

 

		(f)	The
                                            Licensee must not assign or sublicense any of the Intellectual Property.

 

		(g)	The
                                            Licensee must not encumber any of the Intellectual Property as security without the written
                                            permission of the Licensor.

 

	3.3	Licensee’s
    Obligations

 

The
Licensee must:

 

		(a)	protect
                                            and not cause or do any act or thing which may prejudice, damage or harm any of the Intellectual
                                            Property; and

 

		(b)	on
                                            being provided 5 Business Days’ written notice, permit the Licensor’s auditor
                                            or accountant to inspect and verify all or any records required to be maintained by the Licensee
                                            with respect to the use of the Intellectual Property by the Licensee.

 

	3.4	Infringement
    of Intellectual Property

 

The
Licensor grants the Licensee the right to bring proceedings for infringement or threatened infringement of the Intellectual Property,
and any related claims in passing off and/or claims arising from alleged breaches of the Competition and Consumer Act 2010 (Cth),
and any State Fair Trading Act in its own name and shall lend its name to any such proceedings, provided that the Licensee:

 

		(a)	gives
                                            the Licensor notice of any intention to commence any such proceedings;

 

		(b)	keeps
                                            the Licensor informed of all steps to be taken in those proceedings;

 

		(c)	pays
                                            all costs on a solicitor own client basis, associated with any such proceedings; and

 

		(d)	indemnifies
                                            the Licensor for all costs, on the same basis, as may be incurred by or against the Licensor
                                            in those proceedings.

 

	3.5	Ownership
    of intellectual property

 

The
following provisions apply in respect of the ownership of the Intellectual Property:

 

		(a)	all
                                            the legal right, title and interest to or in the Intellectual Property at any time during
                                            this Agreement is retained by and remains vested in the sole, exclusive, absolute and entire
                                            beneficial ownership of the Licensor;

 

    	6

     

    

 

Operative
Part

 

		(b)	all
                                            the legal right, title and interest to or in any Developed Intellectual Property must be
                                            and become vested in the sole, exclusive, absolute and entire beneficial ownership of the
                                            Licensee; and

 

		(c)	the
                                            Licensee must execute any document and perform any action necessary or desirable to transfer
                                            any Developed Intellectual Property to the Licensor.

 

	3.6	Sublicensing

 

The
Licensee may sublicence use of the Intellectual Property to any person provided that the Licensee first gives the Licensor written notice
of such sublicensing arrangements, including the name of the sublicensee and the purpose of such sublicence.

 

 

	4.	Licence
    Fee

 

	4.1	Payment
    of Licence Fee

 

		(a)	The
                                            Licensee must pay the Licensor an annual licence fee (Licence Fee) by way of royalty
                                            in an amount equal to [*] percent ([*]%) of Net Sales payable in arrears within 2 months
                                            of the end of each Calendar Quarter in which any amounts on account of Net Sales are earnt
                                            by the Licensee.

 

		(b)	The
                                            parties acknowledge that as at the date of this Agreement, the Licensee has not yet paid
                                            any proportion of the annual Licence Fee due and owing since the Commencement Date. The Licensor
                                            will, as soon as practicable following the date of this Agreement, render an invoice for
                                            any proportion of the Licence Fee due and owing by the Licensee at the date of this Agreement
                                            and the Licensee will promptly pay to the Licensor any such invoiced amount.

 

		(c)	Failure
                                            to pay the Licence Fee by the due date will not entitle the Licensor to terminate this Agreement.

 

		(d)	The
                                            Licence Fee payable in accordance with this clause is apportioned as follows:

 

		(i)	for
                                            goodwill: nil; and

 

		(ii)	as
                                            to the balance, for the use of the Intellectual Property by the Licensee.

 

	4.2	Adjustment
    of Licence Fee

 

		(a)	Annually
                                            throughout the Term, the parties will review the Licence Fee payable by the Licensee to the
                                            Licensor under this Agreement and determine, in good faith, whether any adjustments should
                                            be made to the same. Any adjustments made to the Licence Fee that are agreed between the
                                            parties shall be effective as from the date agreed in writing by the parties and will remain
                                            current until the next review under this clause 4.2.

 

		(b)	For
                                            the avoidance of doubt, the Licence Fee must be adjusted if the Licensor determines that
                                            an adjustment is required in order for the Licence Fee to be in compliance with the requirements
                                            of any law or Governmental Agency in the Territory regarding transfer pricing.

 

    	7

     

    

 

Operative
Part

 

 

	5.	Termination

 

	5.1	Termination
    for Cause

 

Either
party may terminate this Agreement at any time with immediate effect by giving notice to the other party:

 

		(a)	if
                                            the other party breaches any provision of this Agreement and fails to remedy that breach
                                            within 10 Business Days after receiving written notice requiring it to do so; or

 

		(b)	if
                                            the other party is the subject of an Insolvency Event.

 

	5.2	Delivery
    of intellectual property and Confidential Information

 

Upon
the expiration or termination of this Agreement for any reason the Service Provider will promptly deliver to the Company all of the following
to the extent those items are in the Service Provider’s possession or control:

 

		(a)	Licensor’s
                                            Intellectual Property;

 

		(b)	Developed
                                            Intellectual Property, including all work in progress on any Developed Intellectual Property
                                            not previously delivered to Company, if any; and

 

		(c)	Confidential
                                            Information and intellectual property in the Service Provider’s possession or control
                                            as a result of or in connection with this Agreement.

 

 

	6.	No
    Agency or Partnership

 

This
Agreement does not constitute either party the agent of the other or imply that the parties intend constituting a partnership, joint
venture or other form of association in which either party may be liable for the acts or omissions of the other. Neither party has authority
to pledge the credit of the other party or bind the other party to any arrangement.

 

 

	7.	Costs

 

The
Licensee must pay its and the Licensor’s costs in relation to:

 

		(a)	the
                                            negotiation, preparation, execution, performance, amendment or registration of, or any notice
                                            given or made; and

 

		(b)	the
                                            performance of any action by that party in compliance with any liability arising,

 

under
this Agreement, or any agreement or document executed or effected under this Agreement, unless this Agreement provides otherwise.

 

    	8

     

    

 

Operative
Part

 

 

	8.	GST

 

		(a)	This
                                            provision applies to any GST taxable supply by either party (Supplier) under or in
                                            connection with this Agreement to or for the benefit of the other party (Recipient)
                                            in relation to any consideration, remuneration, cost or other payment payable to the Supplier
                                            or reimbursable or indemnified by the Recipient under this Agreement (Consideration)
                                            in connection with that supply.

 

		(b)	Any
                                            Consideration has been or will be specified, calculated or assessed under or by reference
                                            to any provision of this Agreement initially without reference to, and exclusive of, any
                                            GST payable by the Supplier on or in relation to that Consideration (Tax Exclusive Payment).

 

		(c)	The
                                            Recipient must increase the Tax Exclusive Payment by any additional amount, sufficient that
                                            the total amount payable by the Recipient, after discounting for the amount of any GST liability
                                            of the Supplier on that total, is equal to the Tax Exclusive Payment, less the amount of
                                            any input tax credit to which the Supplier is entitled in relation to any reimbursable cost.

 

		(d)	The
                                            Supplier must issue to the Recipient tax invoices in proper form and in compliance with any
                                            GST Law connected with any supply of any right, property or services by the Supplier under
                                            this Agreement.

 

 

	9.	Assignment

 

Neither
party may transfer any right or liability under this Agreement without the prior written consent of the other party, except where this
Agreement provides otherwise.

 

 

	10.	Notices

 

	10.1	Form

 

Any
notice must be in writing and signed by the sender or any solicitor acting for the sender or, if a corporate party, an Authorised Officer
of the sender, including any director, secretary or person notified in that capacity by that corporate party, or under the seal of the
sender or any power of attorney.

 

	10.2	Service
    Method

 

Any
notice may be served by delivery in person or by post, email or facsimile transmission to the address or number of the recipient and
will be effective for the purposes of this Agreement upon physical receipt by the recipient, or by an email or facsimile response which
confirms that the notice has been received.

 

    	9

     

    

 

Operative
Part

 

 

	11.	Governing Law

 

This
Agreement is governed by and construed under the law of the State of California, USA, without reference to conflict of laws principles.
The parties submit to the jurisdiction of courts exercising jurisdiction in that State.

 

 

	12.	Confidential Information

 

	12.1	Definition of Confidential Information

 

For
the purposes of this clause, Confidential Information means:

 

		(a)	any
                                            and all technical or business data, information or items (including third party data, information,
                                            or items) in whatever form or medium, provided to the Licensee or collected or generated
                                            by the Licensee in connection with this Licence regardless of whether such data, information
                                            or items are marked or identified as “Confidential”; and

 

		(b)	any
                                            data, information or items relating to or embodied in the Developed Intellectual Property.

 

	12.2	Licensee confidentiality obligation

 

The
Licensee will:

 

		(a)	treat
                                            as confidential, and preserve the confidentiality of, all Confidential Information;

 

		(b)	use
                                            the Confidential Information solely for the purposes of this Agreement;

 

		(c)	not
                                            copy such Confidential Information unless specifically authorized by the Company;

 

		(d)	limit
                                            dissemination of the Confidential Information to those individuals to whom disclosure is
                                            necessary for the purposes of this Agreement, provided such individuals have agreed, in a
                                            written agreement no less restrictive than this Agreement, to maintain the confidentiality
                                            thereof;

 

		(e)	promptly
                                            return and/or destroy all Confidential Information at the Company’s request; and

 

		(f)	immediately
                                            notify the Company upon discovery of any loss or unauthorized disclosure of any Confidential
                                            Information and use all reasonable efforts to retrieve such Confidential Information.

 

    	10

     

    

 

Operative
Part

 

 

	13.	General
    Provisions

 

	13.1	Amendments

 

Any
amendment of this Agreement has no force or effect, unless effected by a document executed by the parties.

 

	13.2	Third
    Parties

 

This
Agreement confers rights only upon a person expressed to be a party, and not upon any other person.

 

	13.3	Pre-Contractual
    Negotiation

 

This
Agreement:

 

		(a)	expresses
                                            and incorporates the entire agreement between the parties in relation to its subject-matter,
                                            and all the terms of that agreement; and

 

		(b)	supersedes
                                            and excludes any prior or collateral negotiation, understanding, communication or agreement
                                            by or between the parties in relation to that subject-matter or any term of that agreement.

 

	13.4	Further
    Assurance

 

Each
party must take all steps, execute all documents and perform any action necessary or required by the other party to give full effect
to this Agreement, whether prior or subsequent to performance of this Agreement.

 

	13.5	Waivers

 

Any
failure or delay by either party to exercise any right under this Agreement does not operate as a waiver and the single or partial exercise
of any right by that party does not preclude any other or further exercise of that or any other right by that party.

 

	13.6	Indemnity
    and Remedies

 

The
Licensee will indemnify, hold harmless and defend, the Licensor and its officers, directors, affiliates, agents, employees and customers
from any and all losses, liabilities, damages, claims, demands, litigation, and expenses (including related costs and attorneys’
fees) of every nature arising or resulting, directly or indirectly from or incident to any actual or alleged:

 

    	11

     

    

 

Operative
Part

 

		(a)	act
                                            or omission of Licensee (including its employees or contractors);

 

		(b)	breach
                                            of this Agreement by Licensee (including its employees’ or contractors’);

 

		(c)	infringement
                                            of any third-party intellectual property rights or the use thereof by Licensee;

 

		(d)	failure
                                            by Licensee to satisfy any of its tax or withholding obligations; and/or

 

		(e)	claims
                                            arising out of Licensee’s liability to its employees, contractors or agents.

 

	13.7	Limitation
    of Liability

 

The
Company is not liable for any consequential, incidental, indirect, punitive or special damages, including commercial loss and lost profits,
however caused and regardless of legal theory or foreseeability, directly or indirectly arising under this Agreement.

 

	13.8	Rights
    cumulative

 

The
rights of a party under this Agreement are cumulative and not exclusive of any rights provided by law.

 

	13.9	Severability

 

Any
provision of this Agreement which is invalid in any jurisdiction is invalid in that jurisdiction to that extent, without invalidating
or affecting the remaining provisions of this Agreement or the validity of that provision in any other jurisdiction.

 

	13.10	Counterparts
    and Signature

 

This
Agreement may be executed in any number of counterparts and signed and delivered by electronic means, all of which taken together are
deemed to constitute an original and one and the same document.

 

    	12

     

    

 

Execution

 

EXECUTED
as an agreement

 

LICENSOR:

	EXECUTED
    by IMMIX BIOPHARMA, INC.	)	 
	 	)	 
	 	)	 

 

	By:	/s/
    Ilya Michael Rachman	 
	 	President
    and CEO	 
	 	Full
    Name: Ilya Michael Rachman	 

 

    	13

     

    

 

Execution

 

LICENSEE:

 

	EXECUTED
    by IMMIX BIOPHARMA	)	 
	AUSTRALIA
    PTY LTD ACN 613 951 536	)	 
	pursuant
    to section 127(1) of the Corporations	)	 
	Act
    2001 (Cth):	 	 

 

	/s/
    Blair Andrew Lucas	 	/s/
    Ilya Michael Rachman
	Director	 	Director
	Full
    Name: Blair Andrew Lucas	 	Full
    Name: Ilya Michael Rachman

 

    	14

     

    

 

Execution

 

EXECUTED
as an agreement

 

LENDER:

	EXECUTED
    by IMMIX BIOPHARMA, INC	)	 
	 	)	 
	 	)	 

 

	By:
    	/s/
    Ilya Michael Rachman	 
	 	President
    and CEO	 
	 	Full
    Name: Ilya Michael Rachman	 

 

    	15

     

    

 

Execution

 

BORROWER:

 

EXECUTED
by IMMIX BIOPHARMA

AUSTRALIA
PTY LTD ACN 613 951 536

pursuant
to section 127(1) of the Corporations

Act
2001 (Cth):

 

	/s/
    Blair Andrew Lucas	 	/s/
    Ilya Michael Rachman
	Director	 	Director
	Full
    Name: Blair Andrew Lucas	 	Full
    Name: Ilya Michael Rachman

 

    	16Exhibit
10.4

 

IMMIX
BIOPHARMA, INC.

 

2016
EQUITY INCENTIVE PLAN

 

ADOPTED
BY THE BOARD OF DIRECTORS: November 30, 2016

APPROVED
BY THE STOCKHOLDERS: November 30, 2016

TERMINATION
DATE: November 29, 2026

 

1.
General.

 

(a)
Eligible Stock Award Recipients. Employees, Directors and Consultants are eligible to receive Stock Awards.

 

(b)
Available Stock Awards. The Plan provides for the grant of the following types of Stock Awards: (i) Incentive Stock Options, (ii)
Nonstatutory Stock Options, (iii) Stock Appreciation Rights, (iv) Restricted Stock Awards, (v) Restricted Stock Unit Awards and (vi)
Other Stock Awards.

 

(c)
Purpose. The Plan, through the grant of Stock Awards, is intended to help the Company secure and retain the services of eligible
award recipients, provide incentives for such persons to exert maximum efforts for the success of the Company and any Affiliate and provide
a means by which the eligible recipients may benefit from increases in value of the Common Stock.

 

2.
Administration.

 

(a)
Administration by the Board. The Board will administer the Plan. The Board may delegate administration of the Plan to a Committee
or Committees, as provided in Section 2(c).

 

(b)
Powers of the Board. The Board will have the power, subject to, and within the limitations of, the express provisions of the Plan:

 

(i)
To determine (A) who will be granted Stock Awards; (B) when and how each Stock Award will be granted; (C) what type of Stock Award
will be granted; (D) the provisions of each Stock Award (which need not be identical), including when a person will be permitted to exercise
or otherwise receive cash or Common Stock under the Stock Award; (E) the number of shares of Common Stock subject to, or the cash value
of, a Stock Award; and (F) the Fair Market Value applicable to a Stock Award.

 

(ii)
To construe and interpret the Plan and Stock Awards granted under it, and to establish, amend and revoke rules and regulations for
administration of the Plan and Stock Awards. The Board, in the exercise of these powers, may correct any defect, omission or inconsistency
in the Plan or in any Stock Award Agreement, in a manner and to the extent it will deem necessary or expedient to make the Plan or Stock
Award fully effective.

 

(iii)
To settle all controversies regarding the Plan and Stock Awards granted under it.

 

(iv)
To accelerate, in whole or in part, the time at which a Stock Award may be exercised or vest (or the time at which cash or shares
of Common Stock may be issued in settlement thereof).

 

    	1

     

    

 

(v)
To suspend or terminate the Plan at any time. Except as otherwise provided in the Plan or a Stock Award Agreement, suspension or
termination of the Plan will not impair a Participant’s rights under the Participant’s then-outstanding Stock Award without
the Participant’s written consent except as provided in subsection (viii) below.

 

(vi)
To amend the Plan in any respect the Board deems necessary or advisable, including, without limitation, by adopting amendments relating
to Incentive Stock Options and certain nonqualified deferred compensation under Section 409A of the Code and/or bringing the Plan or
Stock Awards granted under the Plan into compliance with the requirements for Incentive Stock Options or ensuring that they are exempt
from, or compliant with, the requirements for nonqualified deferred compensation under Section 409A of the Code, subject to the limitations,
if any, of applicable law. If required by applicable law or listing requirements, and except as provided in Section 9(a) relating to
Capitalization Adjustments, the Company will seek stockholder approval of any amendment of the Plan that (A) materially increases the
number of shares of Common Stock available for issuance under the Plan, (B) materially expands the class of individuals eligible to receive
Stock Awards under the Plan, (C) materially increases the benefits accruing to Participants under the Plan, (D) materially reduces the
price at which shares of Common Stock may be issued or purchased under the Plan, (E) materially extends the term of the Plan, or (F)
materially expands the types of Stock Awards available for issuance under the Plan. Except as otherwise provided in the Plan or a Stock
Award Agreement, no amendment of the Plan will materially impair a Participant’s rights under an outstanding Stock Award without
the Participant’s written consent.

 

(vii)
To submit any amendment to the Plan for stockholder approval, including, but not limited to, amendments to the Plan intended to satisfy
the requirements of Section 422 of the Code regarding Incentive Stock Options.

 

(viii)
To approve forms of Stock Award Agreements for use under the Plan and to amend the terms of any one or more Stock Awards, including,
but not limited to, amendments to provide terms more favorable to the Participant than previously provided in the Stock Award Agreement,
subject to any specified limits in the Plan that are not subject to Board discretion; provided however, that a Participant’s
rights under any Stock Award will not be impaired by any such amendment unless (A) the Company requests the consent of the affected Participant,
and (B) such Participant consents in writing. Notwithstanding the foregoing, (1) a Participant’s rights will not be deemed to have
been impaired by any such amendment if the Board, in its sole discretion, determines that the amendment, taken as a whole, does not materially
impair the Participant’s rights, and (2) subject to the limitations of applicable law, if any, the Board may amend the terms of
any one or more Stock Awards without the affected Participant’s consent (A) to maintain the qualified status of the Stock Award
as an Incentive Stock Option under Section 422 of the Code; (B) to change the terms of an Incentive Stock Option, if such change results
in impairment of the Stock Award solely because it impairs the qualified status of the Stock Award as an Incentive Stock Option under
Section 422 of the Code; (C) to clarify the manner of exemption from, or to bring the Stock Award into compliance with, Section 409A
of the Code; or (D) to comply with other applicable laws.

 

(ix)
Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests
of the Company and that are not in conflict with the provisions of the Plan or Stock Awards.

 

(x)
To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Employees, Directors
or Consultants who are foreign nationals or employed outside the United States (provided that Board approval will not be necessary for
immaterial modifications to the Plan or any Stock Award Agreement that are required for compliance with the laws of the relevant foreign
jurisdiction).

 

    	2

     

    

 

(xi)
 To effect, with the consent of any adversely affected Participant, (A) the reduction of the exercise, purchase or strike price of
any outstanding Stock Award; (B) the cancellation of any outstanding Stock Award and the grant in substitution therefor of a new (1)
Option or SAR, (2) Restricted Stock Award, (3) Restricted Stock Unit Award, (4) Other Stock Award, (5) cash and/or (6) other valuable
consideration determined by the Board, in its sole discretion, with any such substituted award (x) covering the same or a different number
of shares of Common Stock as the cancelled Stock Award and (y) granted under the Plan or another equity or compensatory plan of the Company;
or (C) any other action that is treated as a repricing under generally accepted accounting principles.

 

(c)
Delegation to Committee. The Board may delegate some or all of the administration of the Plan to a Committee or Committees. If administration
of the Plan is delegated to a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore
possessed by the Board that have been delegated to the Committee, including the power to delegate to a subcommittee of the Committee
any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board will thereafter be
to the Committee or subcommittee, as applicable). Any delegation of administrative powers will be reflected in resolutions, not inconsistent
with the provisions of the Plan, adopted from time to time by the Board or Committee (as applicable). The Board may retain the authority
to concurrently administer the Plan with the Committee and may, at any time, revest in the Board some or all of the powers previously
delegated.

 

(d)
Delegation to an Officer. The Board may delegate to one or more Officers the authority to do one or both of the following: (i) designate
Employees who are not Officers to be recipients of Options and SARs (and, to the extent permitted by applicable law, other Stock Awards)
and, to the extent permitted by applicable law, the terms of such Stock Awards, and (ii) determine the number of shares of Common Stock
to be subject to such Stock Awards granted to such Employees; provided, however, that the Board resolutions regarding such delegation
will specify the total number of shares of Common Stock that may be subject to the Stock Awards granted by such Officer and that such
Officer may not grant a Stock Award to himself or herself. Any such Stock Awards will be granted on the form of Stock Award Agreement
most recently approved for use by the Committee or the Board, unless otherwise provided in the resolutions approving the delegation authority.
The Board may not delegate authority to an Officer who is acting solely in the capacity of an Officer (and not also as a Director) to
determine the Fair Market Value pursuant to Section 13(t) below.

 

(e)
Effect of Board’s Decision. All determinations, interpretations and constructions made by the Board in good faith will not
be subject to review by any person and will be final, binding and conclusive on all persons.

 

3.
Shares Subject to the Plan.

 

(a)
Share Reserve.

 

(i) Subject to Section 9(a)
relating to Capitalization Adjustments, the aggregate number of shares of Common Stock that may be issued pursuant to Stock Awards from
and after the Effective Date will not exceed 1,761,120 shares (the “Share Reserve”).

 

    	3

     

    

 

(ii)
For clarity, the Share Reserve in this Section 3(a) is a limitation on the number of shares of Common Stock that may be issued pursuant
to the Plan. Accordingly, this Section 3(a) does not limit the granting of Stock Awards except as provided in Section 7(a).

 

(b)
Reversion of Shares to the Share Reserve. If a Stock Award or any portion thereof (i) expires or otherwise terminates without all
of the shares covered by such Stock Award having been issued or (ii) is settled in cash (i.e., the Participant receives cash rather
than stock), such expiration, termination or settlement will not reduce (or otherwise offset) the number of shares of Common Stock that
may be available for issuance under the Plan. If any shares of Common Stock issued pursuant to a Stock Award are forfeited back to or
repurchased by the Company because of the failure to meet a contingency or condition required to vest such shares in the Participant,
then the shares that are forfeited or repurchased will revert to and again become available for issuance under the Plan. Any shares reacquired
by the Company in satisfaction of tax withholding obligations on a Stock Award or as consideration for the exercise or purchase price
of a Stock Award will again become available for issuance under the Plan.

 

(c)
Incentive Stock Option Limit. Subject to the Share Reserve and Section 9(a) relating to Capitalization Adjustments, the aggregate
maximum number of shares of Common Stock that may be issued pursuant to the exercise of Incentive Stock Options will be a number of shares
of Common Stock equal to three multiplied by the Share Reserve.

 

(d)
Source of Shares. The stock issuable under the Plan will be shares of authorized but unissued or reacquired Common Stock, including
shares repurchased by the Company on the open market or otherwise.

 

4.
Eligibility.

 

(a)
Eligibility for Specific Stock Awards. Incentive Stock Options may be granted only to employees of the Company or a “parent
corporation” or “subsidiary corporation” thereof (as such terms are defined in Sections 424(e) and 424(f) of the Code).
Stock Awards other than Incentive Stock Options may be granted to Employees, Directors and Consultants; provided, however, that
Stock Awards may not be granted to Employees, Directors and Consultants who are providing Continuous Service only to any “parent”
of the Company, as such term is defined in Rule 405, unless (i) the stock underlying such Stock Awards is treated as “service recipient
stock” under Section 409A of the Code (for example, because the Stock Awards are granted pursuant to a corporate transaction such
as a spin off transaction), (ii) the Company, in consultation with its legal counsel, has determined that such Stock Awards are otherwise
exempt from Section 409A of the Code, or (iii) the Company, in consultation with its legal counsel, has determined that such Stock Awards
comply with the distribution requirements of Section 409A of the Code.

 

(b)
Ten Percent Stockholders. A Ten Percent Stockholder will not be granted an Incentive Stock Option unless the exercise price of such
Option is at least 110% of the Fair Market Value on the date of grant and the Option is not exercisable after the expiration of five
years from the date of grant.

 

(c)
Consultants. A Consultant will not be eligible for the grant of a Stock Award if, at the time of grant, either the offer or sale
of the Company’s securities to such Consultant is not exempt under Rule 701 because of the nature of the services that the Consultant
is providing to the Company, because the Consultant is not a natural person, or because of any other provision of Rule 701, unless the
Company determines that such grant need not comply with the requirements of Rule 701 and will satisfy another exemption under the Securities
Act as well as comply with the securities laws of all other relevant jurisdictions.

 

    	4

     

    

 

5.
Provisions Relating to Options and Stock Appreciation Rights.

 

Each
Option or SAR will be in such form and will contain such terms and conditions as the Board deems appropriate. All Options will be separately
designated Incentive Stock Options or Nonstatutory Stock Options at the time of grant, and, if certificates are issued, a separate certificate
or certificates will be issued for shares of Common Stock purchased on exercise of each type of Option. If an Option is not specifically
designated as an Incentive Stock Option, or if an Option is designated as an Incentive Stock Option but some portion or all of the Option
fails to qualify as an Incentive Stock Option under the applicable rules, then the Option (or portion thereof) will be a Nonstatutory
Stock Option. The provisions of separate Options or SARs need not be identical; provided, however, that each Stock Award Agreement
will conform to (through incorporation of provisions hereof by reference in the applicable Stock Award Agreement or otherwise) the substance
of each of the following provisions:

 

(a)
Term. Subject to the provisions of Section 4(b) regarding Ten Percent Stockholders, no Option or SAR will be exercisable after the
expiration of 10 years from the date of its grant or such shorter period specified in the Stock Award Agreement.

 

(b)
Exercise Price. Subject to the provisions of Section 4(b) regarding Ten Percent Stockholders, the exercise or strike price of each
Option or SAR will be not less than 100% of the Fair Market Value of the Common Stock subject to the Option or SAR on the date the Stock
Award is granted. Notwithstanding the foregoing, an Option or SAR may be granted with an exercise or strike price lower than 100% of
the Fair Market Value of the Common Stock subject to the Stock Award if such Stock Award is granted pursuant to an assumption of or substitution
for another option or stock appreciation right pursuant to a Corporate Transaction and in a manner consistent with the provisions of
Section 409A of the Code and, if applicable, Section 424(a) of the Code. Each SAR will be denominated in shares of Common Stock equivalents.

 

(c)
Purchase Price for Options. The purchase price of Common Stock acquired pursuant to the exercise of an Option may be paid, to the
extent permitted by applicable law and as determined by the Board in its sole discretion, by any combination of the methods of payment
set forth below. The Board will have the authority to grant Options that do not permit all of the following methods of payment (or otherwise
restrict the ability to use certain methods) and to grant Options that require the consent of the Company to use a particular method
of payment. The permitted methods of payment are as follows:

 

(i)
by cash, check, bank draft or money order payable to the Company;

 

(ii)
pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of the
stock subject to the Option, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions
to pay the aggregate exercise price to the Company from the sales proceeds;

 

(iii)
by delivery to the Company (either by actual delivery or attestation) of shares of Common Stock;

 

(iv)
if an Option is a Nonstatutory Stock Option, by a “net exercise” arrangement pursuant to which the Company will reduce
the number of shares of Common Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does
not exceed the aggregate exercise price; provided, however, that the Company will accept a cash or other payment from the Participant
to the extent of any remaining balance of the aggregate exercise price not satisfied by such reduction in the number of whole shares
to be issued. Shares of Common Stock will no longer be subject to an Option and will not be exercisable thereafter to the extent that
(A) shares issuable upon exercise are used to pay the exercise price pursuant to the “net exercise,” (B) shares are delivered
to the Participant as a result of such exercise, and (C) shares are withheld to satisfy tax withholding obligations;

 

    	5

     

    

 

(v)
according to a deferred payment or similar arrangement with the Optionholder; provided, however, that interest will compound
at least annually and will be charged at the minimum rate of interest necessary to avoid (A) the imputation of interest income to the
Company and compensation income to the Optionholder under any applicable provisions of the Code, and (B) the classification of the Option
as a liability for financial accounting purposes; or

 

(vi)
in any other form of legal consideration that may be acceptable to the Board and specified in the applicable Stock Award Agreement.

 

(d)
Exercise and Payment of a SAR. To exercise any outstanding SAR, the Participant must provide written notice of exercise to the Company
in compliance with the provisions of the Stock Appreciation Right Agreement evidencing such SAR. The appreciation distribution payable
on the exercise of a SAR will be not greater than an amount equal to the excess of (A) the aggregate Fair Market Value (on the date of
the exercise of the SAR) of a number of shares of Common Stock equal to the number of Common Stock equivalents in which the Participant
is vested under such SAR, and with respect to which the Participant is exercising the SAR on such date, over (B) the aggregate strike
price of the number of Common Stock equivalents with respect to which the Participant is exercising the SAR on such date. The appreciation
distribution may be paid in Common Stock, in cash, in any combination of the two or in any other form of consideration, as determined
by the Board and contained in the Stock Award Agreement evidencing such SAR.

 

(e)
Transferability of Options and SARs. The Board may, in its sole discretion, impose such limitations on the transferability of Options
and SARs as the Board will determine. In the absence of such a determination by the Board to the contrary, the following restrictions
on the transferability of Options and SARs will apply:

 

(i)
Restrictions on Transfer. An Option or SAR will not be transferable except by will or by the laws of descent and distribution (or
pursuant to subsections (ii) and (iii) below), and will be exercisable during the lifetime of the Participant only by the Participant.
The Board may permit transfer of the Option or SAR in a manner that is not prohibited by applicable tax and securities laws. Except as
explicitly provided in the Plan, neither an Option nor a SAR may be transferred for consideration.

 

(ii)
Domestic Relations Orders. Subject to the approval of the Board or a duly authorized Officer, an Option or SAR may be transferred
pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument
as permitted by Treasury Regulation 1.421-1(b)(2). If an Option is an Incentive Stock Option, such Option may be deemed to be a Nonstatutory
Stock Option as a result of such transfer.

 

(iii)
Beneficiary Designation. Subject to the approval of the Board or a duly authorized Officer, a Participant may, by delivering written
notice to the Company, in a form approved by the Company (or the designated broker), designate a third party who, upon the death of the
Participant, will thereafter be entitled to exercise the Option or SAR and receive the Common Stock or other consideration resulting
from such exercise. In the absence of such a designation, upon the death of the Participant, the executor or administrator of the Participant’s
estate will be entitled to exercise the Option or SAR and receive the Common Stock or other consideration resulting from such exercise.
However, the Company may prohibit designation of a beneficiary at any time, including due to any conclusion by the Company that such
designation would be inconsistent with the provisions of applicable laws.

 

    	6

     

    

 

(f)
Vesting Generally. The total number of shares of Common Stock subject to an Option or SAR may vest and therefore become exercisable
in periodic installments that may or may not be equal. The Option or SAR may be subject to such other terms and conditions on the time
or times when it may or may not be exercised (which may be based on the satisfaction of performance goals or other criteria) as the Board
may deem appropriate. The vesting provisions of individual Options or SARs may vary. The provisions of this Section 5(f) are subject
to any Option or SAR provisions governing the minimum number of shares of Common Stock as to which an Option or SAR may be exercised.

 

(g)
Termination of Continuous Service. Except as otherwise provided in the applicable Stock Award Agreement or other agreement between
the Participant and the Company, if a Participant’s Continuous Service terminates (other than for Cause and other than upon the
Participant’s death or Disability), the Participant may exercise his or her Option or SAR (to the extent that the Participant was
entitled to exercise such Stock Award as of the date of termination of Continuous Service) within the period of time ending on the earlier
of (i) the date three months following the termination of the Participant’s Continuous Service (or such longer or shorter period
specified in the applicable Stock Award Agreement, which period will not be less than 30 days if necessary to comply with applicable
laws unless such termination is for Cause) and (ii) the expiration of the term of the Option or SAR as set forth in the Stock Award Agreement.
If, after termination of Continuous Service, the Participant does not exercise his or her Option or SAR (as applicable) within the applicable
time frame, the Option or SAR will terminate.

 

(h)
Extension of Termination Date. If the exercise of an Option or SAR following the termination of the Participant’s Continuous
Service (other than for Cause and other than upon the Participant’s death or Disability) would be prohibited at any time solely
because the issuance of shares of Common Stock would violate the registration requirements under the Securities Act, then the Option
or SAR will terminate on the earlier of (i) the expiration of a total period of time (that need not be consecutive) equal to the applicable
post-termination exercise period after the termination of the Participant’s Continuous Service during which the exercise of the
Option or SAR would not be in violation of such registration requirements, and (ii) the expiration of the term of the Option or SAR as
set forth in the applicable Stock Award Agreement. In addition, unless otherwise provided in a Participant’s Stock Award Agreement,
if the sale of any Common Stock received upon exercise of an Option or SAR following the termination of the Participant’s Continuous
Service (other than for Cause) would violate the Company’s insider trading policy, then the Option or SAR will terminate on the
earlier of (i) the expiration of the period of time (that need not be consecutive) equal to the applicable post-termination exercise
period after the termination of the Participant’s Continuous Service during which the sale of the Common Stock received upon exercise
of the Option or SAR would not be in violation of the Company’s insider trading policy, and (ii) the expiration of the term of
the Option or SAR as set forth in the applicable Stock Award Agreement.

 

    	7

     

    

 

(i)
Disability of Participant. Except as otherwise provided in the applicable Stock Award Agreement or other agreement between the Participant
and the Company, if a Participant’s Continuous Service terminates as a result of the Participant’s Disability, the Participant
may exercise his or her Option or SAR (to the extent that the Participant was entitled to exercise such Option or SAR as of the date
of termination of Continuous Service), but only within such period of time ending on the earlier of (i) the date 12 months following
such termination of Continuous Service (or such longer or shorter period specified in the Stock Award Agreement, which period will not
be less than six months if necessary to comply with applicable laws unless such termination is for Cause), and (ii) the expiration of
the term of the Option or SAR as set forth in the Stock Award Agreement. If, after termination of Continuous Service, the Participant
does not exercise his or her Option or SAR within the applicable time frame, the Option or SAR (as applicable) will terminate.

 

(j)
Death of Participant. Except as otherwise provided in the applicable Stock Award Agreement or other agreement between the Participant
and the Company, if (i) a Participant’s Continuous Service terminates as a result of the Participant’s death, or (ii) the
Participant dies within the period (if any) specified in the Stock Award Agreement for exercisability after the termination of the Participant’s
Continuous Service (for a reason other than death), then the Option or SAR may be exercised (to the extent the Participant was entitled
to exercise such Option or SAR as of the date of death) by the Participant’s estate, by a person who acquired the right to exercise
the Option or SAR by bequest or inheritance or by a person designated to exercise the Option or SAR upon the Participant’s death,
but only within the period ending on the earlier of (i) the date 18 months following the date of death (or such longer or shorter period
specified in the Stock Award Agreement, which period will not be less than six months if necessary to comply with applicable laws unless
such termination is for Cause), and (ii) the expiration of the term of such Option or SAR as set forth in the Stock Award Agreement.
If, after the Participant’s death, the Option or SAR is not exercised within the applicable time frame, the Option or SAR (as applicable)
will terminate.

 

(k)
Termination for Cause. Except as explicitly provided otherwise in a Participant’s Stock Award Agreement or other individual
written agreement between the Company or any Affiliate and the Participant, if a Participant’s Continuous Service is terminated
for Cause, the Option or SAR will terminate immediately upon such Participant’s termination of Continuous Service, and the Participant
will be prohibited from exercising his or her Option or SAR from and after the date of such termination of Continuous Service.

 

(l)
Non-Exempt Employees. If an Option or SAR is granted to an Employee who is a non-exempt employee for purposes of the Fair Labor Standards
Act of 1938, as amended, the Option or SAR will not be first exercisable for any shares of Common Stock until at least six months following
the date of grant of the Option or SAR (although the Stock Award may vest prior to such date). Consistent with the provisions of the
Worker Economic Opportunity Act, (i) if such non-exempt Employee dies or suffers a Disability, (ii) upon a Corporate Transaction in which
such Option or SAR is not assumed, continued, or substituted, (iii) upon a Change in Control, or (iv) upon the Participant’s retirement
(as such term may be defined in the Participant’s Stock Award Agreement, in another agreement between the Participant and the Company,
or, if no such definition, in accordance with the Company’s then current employment policies and guidelines), the vested portion
of any Options and SARs may be exercised earlier than six months following the date of grant. The foregoing provision is intended to
operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option or SAR will be exempt
from his or her regular rate of pay. To the extent permitted and/or required for compliance with the Worker Economic Opportunity Act
to ensure that any income derived by a non-exempt employee in connection with the exercise, vesting or issuance of any shares under any
other Stock Award will be exempt from the employee’s regular rate of pay, the provisions of this Section 5(l) will apply to all
Stock Awards and are hereby incorporated by reference into such Stock Award Agreements.

 

(m)
Early Exercise of Options. An Option may, but need not, include a provision whereby the Optionholder may elect at any time before
the Optionholder’s Continuous Service terminates to exercise the Option as to any part or all of the shares of Common Stock subject
to the Option prior to the full vesting of the Option. Subject to the “Repurchase Limitation” in Section 8(l), any unvested
shares of Common Stock so purchased may be subject to a repurchase right in favor of the Company or to any other restriction the Board
determines to be appropriate. Provided that the “Repurchase Limitation” in Section 8(l) is not violated, the Company will
not be required to exercise its repurchase right until at least six months (or such longer or shorter period of time required to avoid
classification of the Option as a liability for financial accounting purposes) have elapsed following exercise of the Option unless the
Board otherwise specifically provides in the Option Agreement.

 

    	8

     

    

 

(n)
Right of Repurchase. Subject to the “Repurchase Limitation” in Section 8(l), the Option or SAR may include a provision
whereby the Company may elect to repurchase all or any part of the vested shares of Common Stock acquired by the Participant pursuant
to the exercise of the Option or SAR.

 

(o)
Right of First Refusal. The Option or SAR may include a provision whereby the Company may elect to exercise a right of first refusal
following receipt of notice from the Participant of the intent to transfer all or any part of the shares of Common Stock received upon
the exercise of the Option or SAR. Such right of first refusal will be subject to the “Repurchase Limitation” in Section
8(l). Except as expressly provided in this Section 5(o) or in the Stock Award Agreement, such right of first refusal will otherwise comply
with any applicable provisions of the bylaws of the Company.

 

6.
Provisions of Stock Awards Other than Options and SARs.

 

(a)
Restricted Stock Awards. Each Restricted Stock Award Agreement will be in such form and will contain such terms and conditions as
the Board will deem appropriate. To the extent consistent with the Company’s bylaws, at the Board’s election, shares of Common
Stock underlying a Restricted Stock Award may be (i) held in book entry form subject to the Company’s instructions until any restrictions
relating to the Restricted Stock Award lapse; or (ii) evidenced by a certificate, which certificate will be held in such form and manner
as determined by the Board. The terms and conditions of Restricted Stock Award Agreements may change from time to time, and the terms
and conditions of separate Restricted Stock Award Agreements need not be identical. Each Restricted Stock Award Agreement will conform
to (through incorporation of the provisions hereof by reference in the agreement or otherwise) the substance of each of the following
provisions:

 

(i)
Consideration. A Restricted Stock Award may be awarded in consideration for (A) cash, check, bank draft or money order payable to
the Company, (B) past services to the Company or an Affiliate, or (C) any other form of legal consideration (including future services)
that may be acceptable to the Board, in its sole discretion, and permissible under applicable law.

 

(ii)
Vesting. Subject to the “Repurchase Limitation” in Section 8(l), shares of Common Stock awarded under the Restricted
Stock Award Agreement may be subject to forfeiture to the Company in accordance with a vesting schedule to be determined by the Board.

 

(iii)
Termination of Participant’s Continuous Service. If a Participant’s Continuous Service terminates, the Company may receive
through a forfeiture condition or a repurchase right, any or all of the shares of Common Stock held by the Participant that have not
vested as of the date of termination of Continuous Service under the terms of the Restricted Stock Award Agreement.

 

(iv)
Transferability. Rights to acquire shares of Common Stock under the Restricted Stock Award Agreement will be transferable by the
Participant only upon such terms and conditions as are set forth in the Restricted Stock Award Agreement, as the Board will determine
in its sole discretion, so long as Common Stock awarded under the Restricted Stock Award Agreement remains subject to the terms of the
Restricted Stock Award Agreement.

 

    	9

     

    

 

(v)
Dividends. A Restricted Stock Award Agreement may provide that any dividends paid on Restricted Stock will be subject to the same
vesting and forfeiture restrictions as apply to the shares subject to the Restricted Stock Award to which they relate.

 

(b)
Restricted Stock Unit Awards. Each Restricted Stock Unit Award Agreement will be in such form and will contain such terms and conditions
as the will Board deem appropriate. The terms and conditions of Restricted Stock Unit Award Agreements may change from time to time,
and the terms and conditions of separate Restricted Stock Unit Award Agreements need not be identical. Each Restricted Stock Unit Award
Agreement will conform to (through incorporation of the provisions hereof by reference in the Agreement or otherwise) the substance of
each of the following provisions:

 

(i)
Consideration. At the time of grant of a Restricted Stock Unit Award, the Board will determine the consideration, if any, to be paid
by the Participant upon delivery of each share of Common Stock subject to the Restricted Stock Unit Award. The consideration to be paid
(if any) by the Participant for each share of Common Stock subject to a Restricted Stock Unit Award may be paid in any form of legal
consideration that may be acceptable to the Board, in its sole discretion, and permissible under applicable law.

 

(ii)
Vesting. At the time of the grant of a Restricted Stock Unit Award, the Board may impose such restrictions on or conditions to the
vesting of the Restricted Stock Unit Award as it, in its sole discretion, deems appropriate.

 

(iii)
Payment. A Restricted Stock Unit Award may be settled by the delivery of shares of Common Stock, their cash equivalent, any combination
thereof or in any other form of consideration, as determined by the Board and contained in the Restricted Stock Unit Award Agreement.

 

(iv)
Additional Restrictions. At the time of the grant of a Restricted Stock Unit Award, the Board, as it deems appropriate, may impose
such restrictions or conditions that delay the delivery of the shares of Common Stock (or their cash equivalent) subject to a Restricted
Stock Unit Award to a time after the vesting of such Restricted Stock Unit Award.

 

(v)
Dividend Equivalents. Dividend equivalents may be credited in respect of shares of Common Stock covered by a Restricted Stock Unit
Award, as determined by the Board and contained in the Restricted Stock Unit Award Agreement. At the sole discretion of the Board, such
dividend equivalents may be converted into additional shares of Common Stock covered by the Restricted Stock Unit Award in such manner
as determined by the Board. Any additional shares covered by the Restricted Stock Unit Award credited by reason of such dividend equivalents
will be subject to all of the same terms and conditions of the underlying Restricted Stock Unit Award Agreement to which they relate.

 

(vi)
Termination of Participant’s Continuous Service. Except as otherwise provided in the applicable Restricted Stock Unit Award
Agreement, such portion of the Restricted Stock Unit Award that has not vested will be forfeited upon the Participant’s termination
of Continuous Service.

 

(vii)
Compliance with Section 409A of the Code. Notwithstanding anything to the contrary set forth herein, any Restricted Stock Unit Award
granted under the Plan that is not exempt from the requirements of Section 409A of the Code shall contain such provisions so that such
Restricted Stock Unit Award will comply with the requirements of Section 409A of the Code. Such restrictions, if any, shall be determined
by the Board and contained in the Restricted Stock Unit Award Agreement evidencing such Restricted Stock Unit Award. For example, such
restrictions may include, without limitation, a requirement that any Common Stock that is to be issued in a year following the year in
which the Restricted Stock Unit Award vests must be issued in accordance with a fixed pre-determined schedule.

 

    	10

     

    

 

(c)
Other Stock Awards. Other forms of Stock Awards valued in whole or in part by reference to, or otherwise based on, Common Stock,
including the appreciation in value thereof (e.g., options or stock rights with an exercise price or strike price less than 100% of the
Fair Market Value of the Common Stock at the time of grant) may be granted either alone or in addition to Stock Awards provided for under
Section 5 and the preceding provisions of this Section 6. Subject to the provisions of the Plan, the Board will have sole and complete
authority to determine the persons to whom and the time or times at which such Other Stock Awards will be granted, the number of shares
of Common Stock (or the cash equivalent thereof) to be granted pursuant to such Other Stock Awards and all other terms and conditions
of such Other Stock Awards.

 

7.
Covenants of the Company.

 

(a)
Availability of Shares. The Company will keep available at all times the number of shares of Common Stock reasonably required to
satisfy then-outstanding Stock Awards.

 

(b)
Securities Law Compliance. The Company will seek to obtain from each regulatory commission or agency having jurisdiction over the
Plan such authority as may be required to grant Stock Awards and to issue and sell shares of Common Stock upon exercise of the Stock
Awards; provided, however, that this undertaking will not require the Company to register under the Securities Act the Plan, any
Stock Award or any Common Stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts and at a reasonable
cost, the Company is unable to obtain from any such regulatory commission or agency the authority that counsel for the Company deems
necessary for the lawful issuance and sale of Common Stock under the Plan, the Company will be relieved from any liability for failure
to issue and sell Common Stock upon exercise of such Stock Awards unless and until such authority is obtained. A Participant will not
be eligible for the grant of a Stock Award or the subsequent issuance of cash or Common Stock pursuant to the Stock Award if such grant
or issuance would be in violation of any applicable securities law.

 

(c)
No Obligation to Notify or Minimize Taxes. The Company will have no duty or obligation to any Participant to advise such holder as
to the time or manner of exercising such Stock Award. Furthermore, the Company will have no duty or obligation to warn or otherwise advise
such holder of a pending termination or expiration of a Stock Award or a possible period in which the Stock Award may not be exercised.
The Company has no duty or obligation to minimize the tax consequences of a Stock Award to the holder of such Stock Award.

 

8.
Miscellaneous.

 

(a)
Use of Proceeds from Sales of Common Stock. Proceeds from the sale of shares of Common Stock pursuant to Stock Awards will constitute
general funds of the Company.

 

(b)
Corporate Action Constituting Grant of Stock Awards. Corporate action constituting a grant by the Company of a Stock Award to any
Participant will be deemed completed as of the date of such corporate action, unless otherwise determined by the Board, regardless of
when the instrument, certificate, or letter evidencing the Stock Award is communicated to, or actually received or accepted by, the Participant.
In the event that the corporate records (e.g., Board consents, resolutions or minutes) documenting the corporate action constituting
the grant contain terms (e.g., exercise price, vesting schedule or number of shares) that are inconsistent with those in the Stock Award
Agreement or related grant documents as a result of a clerical error in the papering of the Stock Award Agreement or related grant documents,
the corporate records will control and the Participant will have no legally binding right to the incorrect term in the Stock Award Agreement
or related grant documents.

 

    	11

     

    

 

(c)
Stockholder Rights. No Participant will be deemed to be the holder of, or to have any of the rights of a holder with respect to,
any shares of Common Stock subject to a Stock Award unless and until (i) such Participant has satisfied all requirements for exercise
of, or the issuance of shares of Common Stock under, the Stock Award pursuant to its terms, and (ii) the issuance of the Common Stock
subject to the Stock Award has been entered into the books and records of the Company.

 

(d)
No Employment or Other Service Rights. Nothing in the Plan, any Stock Award Agreement or any other instrument executed thereunder
or in connection with any Stock Award granted pursuant thereto will confer upon any Participant any right to continue to serve the Company
or an Affiliate in the capacity in effect at the time the Stock Award was granted or will affect the right of the Company or an Affiliate
to terminate (i) the employment of an Employee with or without notice and with or without cause, (ii) the service of a Consultant pursuant
to the terms of such Consultant’s agreement with the Company or an Affiliate, or (iii) the service of a Director pursuant to the
bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate
is incorporated, as the case may be.

 

(e)
Change in Time Commitment. In the event a Participant’s regular level of time commitment in the performance of his or her services
for the Company and any Affiliates is reduced (for example, and without limitation, if the Participant is an Employee of the Company
and the Employee has a change in status from a full-time Employee to a part-time Employee or takes an extended leave of absence) after
the date of grant of any Stock Award to the Participant, the Board has the right in its sole discretion to (x) make a corresponding reduction
in the number of shares subject to any portion of such Stock Award that is scheduled to vest or become payable after the date of such
change in time commitment, and (y) in lieu of or in combination with such a reduction, extend the vesting or payment schedule applicable
to such Stock Award. In the event of any such reduction, the Participant will have no right with respect to any portion of the Stock
Award that is so reduced or extended.

 

(f)
Incentive Stock Option Limitations. To the extent that the aggregate Fair Market Value (determined at the time of grant) of Common
Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under
all plans of the Company and any Affiliates) exceeds $100,000 (or such other limit established in the Code) or otherwise does not comply
with the rules governing Incentive Stock Options, the Options or portions thereof that exceed such limit (according to the order in which
they were granted) or otherwise do not comply with such rules will be treated as Nonstatutory Stock Options, notwithstanding any contrary
provision of the applicable Option Agreement(s).

 

(g)
Investment Assurances. The Company may require a Participant, as a condition of exercising or acquiring Common Stock under any Stock
Award, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in financial
and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable and experienced
in financial and business matters and that the Participant is capable of evaluating, alone or together with the purchaser representative,
the merits and risks of exercising the Stock Award; and (ii) to give written assurances satisfactory to the Company stating that the
Participant is acquiring Common Stock subject to the Stock Award for the Participant’s own account and not with any present intention
of selling or otherwise distributing the Common Stock. The foregoing requirements, and any assurances given pursuant to such requirements,
will be inoperative if (A) the issuance of the shares upon the exercise or acquisition of Common Stock under the Stock Award has been
registered under a then currently effective registration statement under the Securities Act, or (B) as to any particular requirement,
a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then applicable
securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as
such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends
restricting the transfer of the Common Stock.

 

    	12

     

    

 

(h)
Withholding Obligations. Unless prohibited by the terms of a Stock Award Agreement, the Company may, in its sole discretion, satisfy
any federal, state or local tax withholding obligation relating to a Stock Award by any of the following means or by a combination of
such means: (i) causing the Participant to tender a cash payment; (ii) withholding shares of Common Stock from the shares of Common Stock
issued or otherwise issuable to the Participant in connection with the Stock Award; provided, however, that no shares of Common
Stock are withheld with a value exceeding the minimum amount of tax required to be withheld by law (or such lesser amount as may be necessary
to avoid classification of the Stock Award as a liability for financial accounting purposes); (iii) withholding cash from a Stock Award
settled in cash; (iv) withholding payment from any amounts otherwise payable to the Participant; or (v) by such other method as may be
set forth in the Stock Award Agreement.

 

(i)
Electronic Delivery. Any reference herein to a “written” agreement or document will include any agreement or document
delivered electronically or posted on the Company’s intranet (or other shared electronic medium controlled by the Company to which
the Participant has access).

 

(j)
Deferrals. To the extent permitted by applicable law, the Board, in its sole discretion, may determine that the delivery of Common
Stock or the payment of cash, upon the exercise, vesting or settlement of all or a portion of any Stock Award may be deferred and may
establish programs and procedures for deferral elections to be made by Participants. Deferrals by Participants will be made in accordance
with Section 409A of the Code. Consistent with Section 409A of the Code, the Board may provide for distributions while a Participant
is still an employee or otherwise providing services to the Company. The Board is authorized to make deferrals of Stock Awards and determine
when, and in what annual percentages, Participants may receive payments, including lump sum payments, following the Participant’s
termination of Continuous Service, and implement such other terms and conditions consistent with the provisions of the Plan and in accordance
with applicable law.

 

(k)
Compliance with Section 409A of the Code. To the extent that the Board determines that any Stock Award granted hereunder is subject
to Section 409A of the Code, the Stock Award Agreement evidencing such Stock Award shall incorporate the terms and conditions necessary
to avoid the consequences specified in Section 409A(a)(1) of the Code. To the extent applicable, the Plan and Stock Award Agreements
shall be interpreted in accordance with Section 409A of the Code. Notwithstanding anything to the contrary in the Plan (and unless the
Stock Award Agreement specifically provides otherwise), if the shares of Common Stock are publicly traded, and if a Participant holding
a Stock Award that constitutes “deferred compensation” under Section 409A of the Code is a “specified employee”
for purposes of Section 409A of the Code, no distribution or payment of any amount that is due because of a “separation from service”
(as defined in Section 409A of the Code without regard to alternative definitions thereunder) will be issued or paid before the date
that is six months following the date of such Participant’s “separation from service” (as defined in Section 409A of
the Code without regard to alternative definitions thereunder) or, if earlier, the date of the Participant’s death, unless such
distribution or payment can be made in a manner that complies with Section 409A of the Code, and any amounts so deferred will be paid
in a lump sum on the day after such six month period elapses, with the balance paid thereafter on the original schedule.

 

    	13

     

    

 

(l)
Repurchase Limitation. The terms of any repurchase right will be specified in the Stock Award Agreement. The repurchase price for
vested shares of Common Stock will be the Fair Market Value of the shares of Common Stock on the date of repurchase. The repurchase price
for unvested shares of Common Stock will be the lower of (i) the Fair Market Value of the shares of Common Stock on the date of repurchase
or (ii) their original purchase price. However, the Company will not exercise its repurchase right until at least six months (or such
longer or shorter period of time necessary to avoid classification of the Stock Award as a liability for financial accounting purposes)
have elapsed following delivery of shares of Common Stock subject to the Stock Award, unless otherwise specifically provided by the Board.

 

9.
Adjustments upon Changes in Common Stock; Other Corporate Events.

 

(a)
Capitalization Adjustments. In the event of a Capitalization Adjustment, the Board will appropriately and proportionately adjust:
(i) the class(es) and maximum number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number
of securities that may be issued pursuant to the exercise of Incentive Stock Options pursuant to Section 3(c), and (iii) the class(es)
and number of securities and price per share of stock subject to outstanding Stock Awards. The Board will make such adjustments, and
its determination will be final, binding and conclusive.

 

(b)
Dissolution or Liquidation. Except as otherwise provided in the Stock Award Agreement, in the event of a dissolution or liquidation
of the Company, all outstanding Stock Awards (other than Stock Awards consisting of vested and outstanding shares of Common Stock not
subject to a forfeiture condition or the Company’s right of repurchase) will terminate immediately prior to the completion of such
dissolution or liquidation, and the shares of Common Stock subject to the Company’s repurchase rights or subject to a forfeiture
condition may be repurchased or reacquired by the Company notwithstanding the fact that the holder of such Stock Award is providing Continuous
Service, provided, however, that the Board may, in its sole discretion, cause some or all Stock Awards to become fully vested,
exercisable and/or no longer subject to repurchase or forfeiture (to the extent such Stock Awards have not previously expired or terminated)
before the dissolution or liquidation is completed but contingent on its completion.

 

(c)
Corporate Transaction. The following provisions will apply to Stock Awards in the event of a Corporate Transaction unless otherwise
provided in the instrument evidencing the Stock Award or any other written agreement between the Company or any Affiliate and the Participant
or unless otherwise expressly provided by the Board at the time of grant of a Stock Award. In the event of a Corporate Transaction, then,
notwithstanding any other provision of the Plan, the Board may take one or more of the following actions with respect to Stock Awards,
contingent upon the closing or completion of the Corporate Transaction:

 

(i)
arrange for the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company)
to assume or continue the Stock Award or to substitute a similar stock award for the Stock Award (including, but not limited to, an award
to acquire the same consideration paid to the stockholders of the Company pursuant to the Corporate Transaction);

 

(ii)
arrange for the assignment of any reacquisition or repurchase rights held by the Company in respect of Common Stock issued pursuant
to the Stock Award to the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company);

 

    	14

     

    

 

(iii)
accelerate the vesting, in whole or in part, of the Stock Award (and, if applicable, the time at which the Stock Award may be exercised)
to a date prior to the effective time of such Corporate Transaction as the Board determines (or, if the Board does not determine such
a date, to the date that is five days prior to the effective date of the Corporate Transaction), with such Stock Award terminating if
not exercised (if applicable) at or prior to the effective time of the Corporate Transaction; provided, however, that the Board
may require Participants to complete and deliver to the Company a notice of exercise before the effective date of a Corporate Transaction,
which exercise is contingent upon the effectiveness of such Corporate Transaction;

 

(iv)
arrange for the lapse, in whole or in part, of any reacquisition or repurchase rights held by the Company with respect to the Stock
Award;

 

(v)
cancel or arrange for the cancellation of the Stock Award, to the extent not vested or not exercised prior to the effective time
of the Corporate Transaction, in exchange for such cash consideration (including no consideration) as the Board, in its sole discretion,
may consider appropriate; and

 

(vi)
make a payment, in such form as may be determined by the Board equal to the excess, if any, of (A) the value of the property the
Participant would have received upon the exercise of the Stock Award immediately prior to the effective time of the Corporate Transaction,
over (B) any exercise price payable by such holder in connection with such exercise. For clarity, this payment may be zero ($0) if the
value of the property is equal to or less than the exercise price. Payments under this provision may be delayed to the same extent that
payment of consideration to the holders of the Company’s Common Stock in connection with the Corporate Transaction is delayed as
a result of escrows, earn outs, holdbacks or any other contingencies.

 

The
Board need not take the same action or actions with respect to all Stock Awards or portions thereof or with respect to all Participants.
The Board may take different actions with respect to the vested and unvested portions of a Stock Award.

 

(d)
Change in Control. A Stock Award may be subject to additional acceleration of vesting and exercisability upon or after a Change in
Control as may be provided in the Stock Award Agreement for such Stock Award or as may be provided in any other written agreement between
the Company or any Affiliate and the Participant, but in the absence of such provision, no such acceleration will occur.

 

10.
Plan Term; Earlier Termination or Suspension of the Plan.

 

(a)
Plan Term. The Board may suspend or terminate the Plan at any time. Unless terminated sooner by the Board, the Plan will automatically
terminate on the day before the 10th anniversary of the earlier of (i) the date the Plan is adopted by the Board, or (ii) the date the
Plan is approved by the stockholders of the Company. No Stock Awards may be granted under the Plan while the Plan is suspended or after
it is terminated.

 

(b)
No Impairment of Rights. Suspension or termination of the Plan will not impair rights and obligations under any Stock Award granted
while the Plan is in effect except with the written consent of the affected Participant or as otherwise permitted in the Plan.

 

11.
Effective Date of Plan.

 

This
Plan will become effective on the Effective Date.

 

    	15

     

    

 

12.
Choice of Law.

 

The
laws of the State of Delaware will govern all questions concerning the construction, validity and interpretation of this Plan, without
regard to that state’s conflict of laws rules.

 

13.
Definitions. As used in the Plan, the
following definitions will apply to the capitalized terms indicated below:

 

(a)
“Affiliate” means, at the time of determination, any “parent” or “majority-owned subsidiary”
of the Company, as such terms are defined in Rule 405. The Board will have the authority to determine the time or times at which “parent”
or “majority-owned subsidiary” status is determined within the foregoing definition.

 

(b)
“Board” means the Board of Directors of the Company.

 

(c)
“Capitalization Adjustment” means any change that is made in, or other events that occur with respect to,
the Common Stock subject to the Plan or subject to any Stock Award after the Effective Date without the receipt of consideration by the
Company through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other
than cash, large nonrecurring cash dividend, stock split, reverse stock split, liquidating dividend, combination of shares, exchange
of shares, change in corporate structure, or any similar equity restructuring transaction, as that term is used in Statement of Financial
Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto). Notwithstanding the foregoing, the
conversion of any convertible securities of the Company will not be treated as a Capitalization Adjustment.

 

(d)
“Cause” will have the meaning ascribed to such term in any written agreement between the Participant and
the Company defining such term and, in the absence of such agreement, such term means, with respect to a Participant, the occurrence
of any of the following events: (i) such Participant’s commission of any felony or any crime involving fraud, dishonesty or moral
turpitude under the laws of the United States or any state thereof; (ii) such Participant’s attempted commission of, or participation
in, a fraud or act of dishonesty against the Company; (iii) such Participant’s intentional, material violation of any contract
or agreement between the Participant and the Company or of any statutory duty owed to the Company; (iv) such Participant’s unauthorized
use or disclosure of the Company’s confidential information or trade secrets; or (v) such Participant’s gross misconduct.
The determination that a termination of the Participant’s Continuous Service is either for Cause or without Cause will be made
by the Company, in its sole discretion. Any determination by the Company that the Continuous Service of a Participant was terminated
with or without Cause for the purposes of outstanding Stock Awards held by such Participant will have no effect upon any determination
of the rights or obligations of the Company or such Participant for any other purpose.

 

(e)
 “Change in Control” means the occurrence, in a single transaction or in a series of related transactions,
of any one or more of the following events:

 

    	16

     

    

 

(i)
any Exchange Act Person becomes the Owner, directly or indirectly, of securities of the Company representing more than 50% of the
combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar transaction.
Notwithstanding the foregoing, a Change in Control will not be deemed to occur (A) on account of the acquisition of securities of the
Company directly from the Company, (B) on account of the acquisition of securities of the Company by an investor, any affiliate thereof
or any other Exchange Act Person that acquires the Company’s securities in a transaction or series of related transactions the
primary purpose of which is to obtain financing for the Company through the issuance of equity securities or (C) solely because the level
of Ownership held by any Exchange Act Person (the “Subject Person”) exceeds the designated percentage threshold
of the outstanding voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing the
number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of
the acquisition of voting securities by the Company, and after such share acquisition, the Subject Person becomes the Owner of any additional
voting securities that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then outstanding
voting securities Owned by the Subject Person over the designated percentage threshold, then a Change in Control will be deemed to occur;

 

(ii)
there is consummated a merger, consolidation or similar transaction involving (directly or indirectly) the Company and, immediately
after the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto
do not Own, directly or indirectly, either (A) outstanding voting securities representing more than 50% of the combined outstanding voting
power of the surviving Entity in such merger, consolidation or similar transaction or (B) more than 50% of the combined outstanding voting
power of the parent of the surviving Entity in such merger, consolidation or similar transaction, in each case in substantially the same
proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such transaction; or

 

(iii)
there is consummated a sale, lease, exclusive license or other disposition of all or substantially all of the consolidated assets
of the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated
assets of the Company and its Subsidiaries to an Entity, more than 50% of the combined voting power of the voting securities of which
are Owned by stockholders of the Company in substantially the same proportions as their Ownership of the outstanding voting securities
of the Company immediately prior to such sale, lease, license or other disposition.

 

Notwithstanding
the foregoing definition or any other provision of this Plan, (A) the term Change in Control will not include a sale of assets, merger
or other transaction effected exclusively for the purpose of changing the domicile of the Company, and (B) the definition of Change in
Control (or any analogous term) in an individual written agreement between the Company or any Affiliate and the Participant will supersede
the foregoing definition with respect to Stock Awards subject to such agreement; provided, however, that if no definition of Change
in Control or any analogous term is set forth in such an individual written agreement, the foregoing definition will apply.

 

(f)
 “Code” means the Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance
thereunder.

 

(g)
“Committee” means a committee of one or more Directors to whom authority has been delegated by the Board
in accordance with Section 2(c).

 

(h)
 “Common Stock” means the Series A Common Stock of the Company.

 

(i)
“Company” means Immix Biopharma, Inc., a Delaware corporation.

 

(j)
“Consultant” means any person, including an advisor, who is (i) engaged by the Company or an Affiliate
to render consulting or advisory services and is compensated for such services, or (ii) serving as a member of the board of directors
of an Affiliate and is compensated for such services. However, service solely as a Director, or payment of a fee for such service, will
not cause a Director to be considered a “Consultant” for purposes of the Plan.

 

    	17

     

    

 

(k)
“Continuous Service” means that the Participant’s service with the Company or an Affiliate, whether
as an Employee, Director or Consultant, is not interrupted or terminated. A change in the capacity in which the Participant renders service
to the Company or an Affiliate as an Employee, Director or Consultant or a change in the Entity for which the Participant renders such
service, provided that there is no interruption or termination of the Participant’s service with the Company or an Affiliate, will
not terminate a Participant’s Continuous Service; provided, however, that if the Entity for which a Participant is rendering
services ceases to qualify as an Affiliate, as determined by the Board in its sole discretion, such Participant’s Continuous Service
will be considered to have terminated on the date such Entity ceases to qualify as an Affiliate. For example, a change in status from
an Employee of the Company to a Consultant of an Affiliate or to a Director will not constitute an interruption of Continuous Service.
To the extent permitted by law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may determine
whether Continuous Service will be considered interrupted in the case of (i) any leave of absence approved by the Board or chief executive
officer, including sick leave, military leave or any other personal leave, or (ii) transfers between the Company, an Affiliate, or their
successors. Notwithstanding the foregoing, a leave of absence will be treated as Continuous Service for purposes of vesting in a Stock
Award only to such extent as may be provided in the Company’s leave of absence policy, in the written terms of any leave of absence
agreement or policy applicable to the Participant, or as otherwise required by law.

 

(l)
“Corporate Transaction” means the consummation, in a single transaction or in a series of related transactions,
of any one or more of the following events:

 

(i)
a sale or other disposition of all or substantially all, as determined by the Board in its sole discretion, of the consolidated assets
of the Company and its Subsidiaries;

 

(ii)
a sale or other disposition of more than 50% of the outstanding securities of the Company;

 

(iii)
a merger, consolidation or similar transaction following which the Company is not the surviving corporation; or

 

(iv)
a merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common
Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the
merger, consolidation or similar transaction into other property, whether in the form of securities, cash or otherwise.

 

(m)
“Director” means a member of the Board.

 

(n)
“Disability” means, with respect to a Participant, the inability of such Participant to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that
has lasted or can be expected to last for a continuous period of not less than twelve (12) months as provided in Sections 22(e)(3) and
409A(a)(2)(c)(i) of the Code, and will be determined by the Board on the basis of such medical evidence as the Board deems warranted
under the circumstances.

 

    	18

     

    

 

(o)
“Effective Date” means the effective date of this Plan, which is the earlier of (i) the date that this
Plan is first approved by the Company’s stockholders, and (ii) the date this Plan is adopted by the Board.

 

(p)
“Employee” means any person employed by the Company or an Affiliate. However, service solely as a Director,
or payment of a fee for such services, will not cause a Director to be considered an “Employee” for purposes of the Plan.

 

(q)
“Entity” means a corporation, partnership, limited liability company or other entity.

 

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

 

(s)
“Exchange Act Person” means any natural person, Entity or “group” (within the meaning of Section
13(d) or 14(d) of the Exchange Act), except that “Exchange Act Person” will not include (i) the Company or any Subsidiary
of the Company, (ii) any employee benefit plan of the Company or any Subsidiary of the Company or any trustee or other fiduciary holding
securities under an employee benefit plan of the Company or any Subsidiary of the Company, (iii) an underwriter temporarily holding securities
pursuant to a registered public offering of such securities, (iv) an Entity Owned, directly or indirectly, by the stockholders of the
Company in substantially the same proportions as their Ownership of stock of the Company; or (v) any natural person, Entity or “group”
(within the meaning of Section 13(d) or 14(d) of the Exchange Act) that, as of the Effective Date, is the Owner, directly or indirectly,
of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities.

 

(t)
“Fair Market Value” means, as of any date, the value of the Common Stock determined by the Board in compliance
with Section 409A of the Code or, in the case of an Incentive Stock Option, in compliance with Section 422 of the Code.

 

(u)
“Incentive Stock Option” means an option granted pursuant to Section 5 of the Plan that is intended to
be, and that qualifies as, an “incentive stock option” within the meaning of Section 422 of the Code.

 

(v)
“Nonstatutory Stock Option” means an option granted pursuant to Section 5 of the Plan that does not qualify
as an Incentive Stock Option.

 

(w)
“Officer” means any person designated by the Company as an officer.

 

(x)
“Option” means an Incentive Stock Option or a Nonstatutory Stock Option to purchase shares of Common Stock
granted pursuant to the Plan.

 

(y)
“Option Agreement” means a written agreement between the Company and an Optionholder evidencing the terms
and conditions of an Option grant. Each Option Agreement will be subject to the terms and conditions of the Plan.

 

(z)
“Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such
other person who holds an outstanding Option.

 

(aa)
“Other Stock Award” means an award based in whole or in part by reference to the Common Stock which is granted
pursuant to the terms and conditions of Section 6(c).

 

    	19

     

    

 

(bb)
“Other Stock Award Agreement” means a written agreement between the Company and a holder of an Other Stock Award
evidencing the terms and conditions of an Other Stock Award grant. Each Other Stock Award Agreement will be subject to the terms and
conditions of the Plan.

 

(cc)
“Own,” “Owned,” “Owner,” “Ownership”
A person or Entity will be deemed to “Own,” to have “Owned,” to be the “Owner” of, or to have acquired
“Ownership” of securities if such person or Entity, directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise, has or shares voting power, which includes the power to vote or to direct the voting, with respect to such
securities.

 

(dd)
“Participant” means a person to whom a Stock Award is granted pursuant to the Plan or, if applicable, such
other person who holds an outstanding Stock Award.

 

(ee)
“Plan” means this 2016 Equity Incentive Plan.

 

(ff)
“Restricted Stock Award” means an award of shares of Common Stock which is granted pursuant to the terms
and conditions of Section 6(a).

 

(gg)
“Restricted Stock Award Agreement” means a written agreement between the Company and a holder of a Restricted
Stock Award evidencing the terms and conditions of a Restricted Stock Award grant. Each Restricted Stock Award Agreement will be subject
to the terms and conditions of the Plan.

 

(hh)
“Restricted Stock Unit Award” means a right to receive shares of Common Stock which is granted pursuant
to the terms and conditions of Section 6(b).

 

(ii)
“Restricted Stock Unit Award Agreement” means a written agreement between the Company and a holder of a
Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award
Agreement will be subject to the terms and conditions of the Plan.

 

(jj)
“Rule 405” means Rule 405 promulgated under the Securities Act.

 

(kk)
“Rule 701” means Rule 701 promulgated under the Securities Act.

 

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

 

(mm)
“Stock Appreciation Right” or “SAR” means a right to receive the appreciation
on Common Stock that is granted pursuant to the terms and conditions of Section 5.

 

(nn)
“Stock Appreciation Right Agreement” means a written agreement between the Company and a holder of a Stock
Appreciation Right evidencing the terms and conditions of a Stock Appreciation Right grant. Each Stock Appreciation Right Agreement will
be subject to the terms and conditions of the Plan.

 

(oo)
“Stock Award” means any right to receive Common Stock granted under the Plan, including an Incentive Stock
Option, a Nonstatutory Stock Option, a Restricted Stock Award, a Restricted Stock Unit Award, a Stock Appreciation Right or any Other
Stock Award.

 

(pp)
“Stock Award Agreement” means a written agreement between the Company and a Participant evidencing the
terms and conditions of a Stock Award grant. Each Stock Award Agreement will be subject to the terms and conditions of the Plan.

 

(qq)
“Subsidiary” means, with respect to the Company, (i) any corporation of which more than 50% of the outstanding
capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether,
at the time, stock of any other class or classes of such corporation will have or might have voting power by reason of the happening
of any contingency) is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership, limited liability company
or other entity in which the Company has a direct or indirect interest (whether in the form of voting or participation in profits or
capital contribution) of more than 50%.

 

(rr)
“Ten Percent Stockholder” means a person who Owns (or is deemed to Own pursuant to Section 424(d) of the
Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any Affiliate.

 

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