Document:

Exhibit 10.2

 

LIFEPOINT HOSPITALS, INC.

 

INDEMNIFICATION AGREEMENT

 

This INDEMNIFICATION AGREEMENT is made and
entered into as of the [●] day of [●], [●] (this "Agreement") by and between LifePoint Hospitals,
Inc., a Delaware corporation (the "Company"), and [●] ("Indemnitee").

 

WHEREAS, the Company desires to attract
and retain the services of highly qualified individuals, such as Indemnitee, to serve the Company and its related entities;

 

WHEREAS, in order to induce Indemnitee to
provide, or continue to provide, services to the Company and its related entities, the Company wishes to provide for the indemnification
of, and the advancement of expenses to, Indemnitee to the maximum extent permitted by law;

 

WHEREAS, the Company and Indemnitee recognize
the continued difficulty in obtaining liability insurance for directors, officers, employees, agents and fiduciaries, the significant
increases in the cost of such insurance and the general reductions in the coverage of such insurance;

 

WHEREAS, the Company and Indemnitee recognize
the substantial increase in corporate litigation in general, subjecting directors, officers, employees, agents and fiduciaries
to expensive litigation risks and the limitations of coverage of liability insurance;

 

WHEREAS, the Company and Indemnitee desire
to continue to have in place the additional protection provided by an indemnification agreement and to provide indemnification
and advancement of Expenses (as defined below) to Indemnitee to the maximum extent permitted by Delaware law;

 

WHEREAS, the Board of Directors has determined
that contractual indemnification as set forth herein is not only reasonable and prudent but also promotes the best interests of
the Company and its stockholders;

 

WHEREAS, the Company desires and has requested
Indemnitee to serve or continue to serve as a director, officer, employee, agent or fiduciary of the Company or any other corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise free from undue concern for unwarranted claims for
damages arising out of or related to such services;

 

WHEREAS, Indemnitee is willing to serve,
continue to serve or to provide additional service for or on behalf of the Company on the condition that Indemnitee is furnished
with the indemnity provided for herein; and

 

WHEREAS, in view of the considerations set
forth above, the Company desires that Indemnitee shall be indemnified and advanced Expenses by the Company as set forth herein;

 

    	 

    	 

    

 

NOW, THEREFORE, the Company and Indemnitee
hereby agree as set forth below:

 

1.           DEFINITIONS.
As used in this Agreement, the following terms shall have the following meanings:

 

"By-laws" means the
Second Amended and Restated By-laws of the Company, as such may be amended.

 

"Certificate" means
the Amended and Restated Certificate of Incorporation of the Company, as such may be amended.

 

"Corporate Status"
describes the status of a person who is or was a member of the Board of Directors of the Company (the "Board")
or is or was otherwise a director, officer, employee or agent or fiduciary of the Company or of any other corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise which such person is or was serving at the request of the Company.

 

"Disinterested Director"
means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought
by the Indemnitee.

 

"Expenses" shall include
attorneys' fees, retainers, court costs, transcript costs, fees of experts, filing fees, witness fees, travel expenses, duplicating
costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses and
obligations of any nature whatsoever paid or incurred in connection with prosecuting, defending, preparing to prosecute or defend,
investigating, participating, or being or preparing to be a witness in a Proceeding.

 

"Independent Legal Counsel"
means a law firm, or a member of a law firm, that is experienced in matters of Delaware corporation law and neither presently is,
nor in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either
such party (other than with respect to matters concerning Indemnitee under this Agreement) or (ii) any other party to the Proceeding
giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Legal Counsel"
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict
of interest in representing either the Company or the Indemnitee in an action to determine the Indemnitee's rights under this Agreement.

 

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"Proceeding" includes
any threatened, pending or completed action, suit, arbitration, proceeding, alternate dispute resolution mechanism, investigation,
inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of
the Company or otherwise and whether civil, criminal, administrative or investigative, in which an Indemnitee was, is or will be
involved as a party or otherwise, by reason of (i) the fact that Indemnitee is or was a director, officer, employee, agent or fiduciary
of the Company, (ii) any action taken by Indemnitee or of any inaction on Indemnitee's part while acting in a Corporate Status
or (iii) the fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or agent or
fiduciary of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. Any of the foregoing
proceedings described in the immediately preceding sentence (i) shall be deemed a Proceeding, whether or not Indemnitee is acting
or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under
this Agreement and (ii) shall include any Proceeding pending or threatened on or before the date of this Agreement; provided,
however, that such definition shall exclude a Proceeding initiated by an Indemnitee pursuant to Section 9 to
enforce Indemnitee's rights under this Agreement. For purposes hereof, threatened Proceedings shall include, without limitation,
any proceeding if any person (including the Company or any governmental agent or agency) who may attempt to commence such a proceeding
has manifested to the Company, any entity as to which Indemnitee has a Corporate Status, any director, officer, employee, agent
or fiduciary of the Company or any of the foregoing or Indemnitee (i) an awareness of facts that such person believes may form
the basis for a Proceeding and (ii) that it may so attempt to commence such a Proceeding, without regard to whether such manifestation
is written, oral or otherwise or such belief is reasonable.

 

2.          INTERPRETATION
OF AGREEMENT; REQUEST TO SERVE. It is understood and agreed that the parties hereto intend this Agreement to be interpreted
and enforced so as to provide indemnification, including advancement of Expenses, to the Indemnitee to the fullest extent now or
hereafter permitted by law. It also is understood and agreed that the parties intend that the obligations of the Company to provide
indemnification, including advancement of Expenses, shall be interpreted broadly in favor of providing on a timely basis such indemnification
and advancement of Expenses to Indemnitee in a manner which favors resolving any disagreements over the right thereto or procedures
therefor in a manner which is prompt and cost-efficient to Indemnitee. For the avoidance of doubt, in addition to any separate
oral or written confirmation or request that the Company may make, the Company expressly confirms (i) that Indemnitee is, or was,
serving at the request of the Company as a director, officer, employee or agent or fiduciary of (a) any corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise in which the Company owns or owned at least 25% of the common or
preferred equity (or such percentage of any similar ownership interest) at any time during any such service or provides or provided
to Indemnitee any compensation for or right to reimbursement of any expenses or costs in respect of such service and (b) of any
employee benefit plan for the benefit of any officers, directors, employees or agents of the Company, any of its subsidiaries or
any enterprise described in clause (a) as to which Indemnitee provides any service, and (ii) that any such service commencing after
the date hereof shall be deemed to be at the request of the Company.

 

3.          INDEMNITY.
The Company hereby agrees to hold harmless and indemnify (including the advancement of Expenses) the Indemnitee to the fullest
extent authorized or permitted by law, including without limitation, to the fullest extent authorized by Article Thirteenth of
the Company's Certificate ("Article Thirteenth") as the same exists on the date hereof (or as such Certificate
or the By-laws may hereafter be amended, but only to the extent that such amendment authorizes or permits the Company to provide
broader indemnification rights than authorized or permitted prior to such amendment). In furtherance of the foregoing indemnification,
and without limiting the generality thereof:

 

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(a)          Proceedings
Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided
in this Section 3(a) if, by reason of Indemnitee's Corporate Status, Indemnitee is, or is threatened to be made, a party
to or participant in any Proceeding (including Proceedings arising out of or relating to Indemnitee's Corporate Status) other than
a Proceeding by or in the right of the Company. Pursuant to this Section 3(a), the Indemnitee shall be indemnified against
all Expenses, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges
paid or payable in connection with or in respect of such Expenses, judgments, penalties, fines or amounts paid in settlement) actually
and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with such Proceeding or any claim, issue or matter
therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests
of the Company and, with respect to any criminal Proceeding, had no reasonable cause to believe Indemnitee's conduct was unlawful.

 

(b)          Proceedings
by or in the Right of the Company. The Indemnitee shall be entitled to the rights of indemnification provided in this Section
3(b) if, by reason of Indemnitee Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant in
any Proceeding (including Proceedings arising out of or relating to Indemnitee's Corporate Status) brought by or in the right of
the Company to procure a judgment in its favor. Pursuant to this Section 3(b), the Indemnitee shall be indemnified against
all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with such Proceeding if Indemnitee
acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company;
provided, however, that, if applicable law so provides, no indemnification against such Expenses shall
be made in respect of any claim, issue or matter in such Proceeding as to which the Indemnitee shall have been finally adjudged
to be liable to the Company unless and to the extent that the Court of Chancery of the State of Delaware shall determine that such
indemnification may be made.

 

(c)          Indemnification
for Expenses if Indemnitee is a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement,
to the extent that the Indemnitee is, by reason of Indemnitee's Corporate Status, a party to and is successful, on the merits or
otherwise, in any Proceeding (including Proceedings arising out of or relating to Indemnitee's Corporate Status), Indemnitee shall
be indemnified to the maximum extent permitted by law against all Expenses actually and reasonably incurred by Indemnitee or on
Indemnitee's behalf in connection therewith. If the Indemnitee is not wholly successful in such Proceeding but is successful, on
the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify
the Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with
each successfully resolved claim, issue or matter. For purposes of this Section 3 and without limitation, the termination
of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful
result as to such claim, issue or matter.

 

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4.           ADDITIONAL
INDEMNITY. In addition to, and without regard to any limitations on, the indemnification provided for in Section 3,
the Company shall and hereby does indemnify and hold harmless the Indemnitee against all Expenses, judgments, penalties, fines
and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in
respect of such Expenses, judgments, penalties, fines or amounts paid in settlement) actually and reasonably incurred by Indemnitee
or on Indemnitee's behalf if, by reason of Indemnitee's Corporate Status, Indemnitee is, or is threatened to be made, a party to
or participant in any Proceeding including a Proceeding by or in the right of the Company and Proceedings arising out at or relating
to Indemnitee's Corporate Status, and will promptly advance Expenses to Indemnitee upon request. The only limitation that shall
exist upon the Company's obligations pursuant to this Section 4 shall be that the Company shall not be obligated to make
any payment to Indemnitee that is finally determined (under the procedures, and subject to the presumptions, set forth in Sections
8 and 9 hereof) to be unlawful or contrary to public policy.

 

5.           CONTRIBUTION
IN THE EVENT OF JOINT LIABILITY.

 

(a)          Whether
or not the indemnification provided in Sections 3 and 4 hereof is available, in respect of any Proceeding in which the Company
is jointly liable with Indemnitee (or would be if joined in such Proceeding), Company shall pay the entire amount of any judgment,
penalty, fine or settlement (including all interest, assessments and other charges paid or payable in connection with or in respect
of such Expenses, judgments, penalties, fines or amounts paid in settlement) of such Proceeding without requiring Indemnitee to
contribute to such payment and the Company hereby waives and relinquishes any right of contribution it may have against Indemnitee.
The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

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(b)          Without
diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee
shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed Proceeding
in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding), the Company shall contribute
an amount equal to 100% of the amount of Expenses, judgments, penalties, fines and amounts paid in settlement (including all interest,
assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, penalties, fines or
amounts paid in settlement) actually and reasonably incurred and paid or payable by Indemnitee. If the Company is prohibited by
law from paying 100% of such Expenses, judgments, penalties, fines and amounts, then the Company shall contribute to the amount
of Expenses, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges
paid or payable in connection with or in respect of such Expenses, judgments, penalties, fines or amounts paid in settlement) actually
and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and all
officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined
in such Proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction from which such Proceeding arose;
provided, however, that the proportion determined on the basis of relative benefit may, to the extent
necessary to conform to law, be further adjusted by reference to the relative fault of the Company and all officers, directors
or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such Proceeding),
on the one hand, and Indemnitee, on the other hand, in connection with the events that resulted in such Expenses, judgments, penalties,
fines or settlement amounts (including all interest, assessments and other charges paid or payable in connection with or in respect
of such Expenses, judgments, penalties, fines or amounts paid in settlement), as well as any other equitable considerations which
the law may require to be considered. The relative fault of the Company and all officers, directors or employees of the Company
other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee,
on the other hand, shall be determined by reference to, among other things, the degree to which their actions were motivated by
intent to gain personal profit or advantage, the degree to which their liability is primary or secondary, and the degree to which
their conduct is active or passive.

 

(c)          To
the maximum extent permitted by law, the Company shall indemnify and hold Indemnitee harmless from any claims of contribution which
may be brought by officers, directors, employees, agents or fiduciaries of the Company who may be jointly liable with Indemnitee,
including claims of contribution for Expenses, judgments, penalties, fines and amounts paid in settlement (including all interest,
assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, penalties, fines or
amounts paid in settlement).

 

(d)          To
the extent relevant, all presumptions and burdens of proof and persuasion set forth in this Agreement that affect determinations
as to the right to indemnification shall be applicable similarly to any determination or obligation as to matters of contribution
pursuant to this Section 5.

 

6.           INDEMNIFICATION
FOR EXPENSES OF A WITNESS. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of Indemnitee's Corporate Status (or arising out of the same or relating thereto), a witness in any Proceeding to which Indemnitee
is not a party, the Company shall indemnify the Indemnitee against all Expenses actually and reasonably incurred by Indemnitee
or on Indemnitee's behalf in connection therewith.

 

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7.           ADVANCEMENT
OF EXPENSES.

 

(a)          Notwithstanding
any other provision of this Agreement, the Company shall advance all reasonable Expenses incurred by or on behalf of Indemnitee
in connection with any Proceeding by reason of Indemnitee's Corporate Status (including any Proceeding arising out of or relating
to Indemnitee's Corporate Status) within fifteen (15) days after the receipt by the Company of a written statement or statements
from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding.
Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall be preceded or accompanied
by an undertaking in the form attached hereto as Exhibit A, manually executed by Indemnitee.

 

(b)          The
Company shall not, as a condition precedent to or otherwise in connection with any request to advance Expenses, assert any right
to any condition, covenant, undertaking, agreement, warranty or other term not set forth in Section 7(a) or in Exhibit
A hereto. Any advances and undertakings to repay pursuant to this Section 7 shall be unsecured and interest free.

 

(c)          Notwithstanding
anything herein or in Exhibit A, the Certificate or the By-laws to the contrary, the Company shall not make or seek to make
any determination that Indemnitee is not permitted to be indemnified in respect of a Proceeding under applicable law unless (i)
Indemnitee has expressly requested to be indemnified pursuant to Section 8(a) of this Agreement or Article Thirteenth; (ii)
Indemnitee has not so requested on or before the 90th day prior to the expiration of the statute of limitations in respect
of the claim for indemnification in respect of the Proceeding for which indemnification may be sought; or (iii) a final determination
of a court of competent jurisdiction is made with respect to the Proceeding for which indemnification may be sought (as to which
all rights of appeal have been exhausted or lapsed).

 

8.           PROCEDURES
AND PRESUMPTIONS FOR DETERMINATION OF ENTITLEMENT TO INDEMNIFICATION. To better ensure that the intentions of the parties hereto
are achieved, the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether
Indemnitee is entitled to indemnification under this Agreement:

 

(a)          To
obtain indemnification under this Agreement which may, at the option of Indemnitee, include indemnification under Article Thirteenth,
Indemnitee shall submit to the Company a written request for the same, together with a brief summary of the Proceeding as to which
indemnification is sought. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise
the Board in writing that Indemnitee has requested indemnification.

 

(b)          Upon
written request by Indemnitee for indemnification pursuant to the first sentence of Section 8(a) hereof, other than a request
solely for advancement of Expenses pursuant to Section 7(a), a determination, if (but only if) required by applicable law,
with respect to Indemnitee's entitlement thereto shall be made in the specific case by one of the following three methods, which
shall be at the election of Indemnitee to the extent permitted by law: (i) by a majority vote of the Disinterested Directors, even
though less than a quorum, or (ii) by Independent Legal Counsel in a written opinion, or (iii) by the stockholders of the Company.
In the event that the Company fails or is unable to implement an election by Indemnitee it shall promptly communicate the same
to Indemnitee, and Indemnitee shall be afforded a right to seek a determination by another method set forth in the proceeding sentence,
provided, however that nothing in this sentence shall preclude Indemnitee from seeking any remedy available
to it in respect of such failure or inability.

 

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(c)          If
the determination of entitlement to indemnification is to be made by Independent Legal Counsel pursuant to Section 8(b)
hereof, the Independent Legal Counsel shall be selected as provided in this Section 8(c). The Independent Legal Counsel
shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board). Indemnitee or the Company,
as the case may be, may, within 15 days after such written notice of selection shall have been given, deliver to the Company or
to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Legal Counsel so selected does not meet the requirements of "Independent
Legal Counsel" as defined in Section 1 of this Agreement, and the objection shall set forth with particularity the
factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Legal Counsel.
If a written objection is made and substantiated, the Independent Legal Counsel selected may not serve as Independent Legal Counsel
unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days
after submission by Indemnitee of a written request for indemnification pursuant to Section 8(a) hereof, no Independent
Legal Counsel shall have been selected and not objected to, either the Company or Indemnitee may seek judicial resolution of any
objection which shall have been made by the Company or Indemnitee to the other's selection of Independent Legal Counsel and/or
for the appointment as Independent Legal Counsel of a person selected by the court or by such other person as the court shall designate,
and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Legal Counsel
under Section 8(b) hereof. The Company shall pay any and all reasonable fees and expenses of Independent Legal Counsel incurred
by such Independent Legal Counsel in connection with acting pursuant to Section 8(b) hereof. The Company shall pay all reasonable
fees and expenses incident to the procedures of this Section 8(c), regardless of the manner in which such Independent Legal
Counsel was selected or appointed.

 

(d)          In
making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination
shall presume (unless there is clear and convincing evidence to the contrary) that (i) Indemnitee is entitled to indemnification
if Indemnitee has submitted a request for indemnification in accordance with Section 8(a) of this Agreement and (ii) all
items that Indemnitee has identified as Expenses, individually and in the aggregate, and for which Indemnitee has sought indemnification,
including any request for advancement thereof, are reasonable and entitled to indemnification. The Company shall not deny or delay
the advancement or indemnification of any Expenses for which Indemnitee has sought indemnification on the basis that such Expenses
are not reasonable or are otherwise not subject to indemnification unless it shall have first sustained its burden of proof and
burden of persuasion to rebut the presumption set forth above in a final determination of a court of competent jurisdiction (as
to which all rights of appeal have been exhausted or lapsed). Anyone seeking to overcome this presumption shall have the burden
of proof and the burden of persuasion, by clear and convincing evidence.

 

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(e)          Indemnitee
shall be presumed to have acted in good faith if Indemnitee's action is based on the records or books of account of the Company,
including financial statements, or on information supplied to Indemnitee by the officers of the Company in the course of their
duties, or on the advice of legal counsel for the Company, the Board or any committee of the Board or on information or records
given or reports made to the Company by an independent certified public accountant, by a financial advisor or by an appraiser or
other expert selected with reasonable care by the Company, the Board or any committee of the Board. In addition, the knowledge
and/or actions, or failure to act, of any director, officer, employee, agent or fiduciary of the Company shall not be imputed to
Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing provisions
of this Section 8(e) are satisfied, it shall in any event be presumed (unless there is clear and convincing evidence to
the contrary) that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the
burden of persuasion, by clear and convincing evidence.

 

(f)          The
Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to
avoid expense, delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee
is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement
of such Proceeding with or without payment of money or other consideration) it shall be presumed (unless there is clear and convincing
evidence to the contrary) that Indemnitee has been successful on the merits or otherwise in such Proceeding. Anyone seeking to
overcome this presumption shall have the burden of proof and the burden of persuasion, by clear and convincing evidence.

 

(g)          If
the person, persons or entity empowered or selected under Section 8(b) to determine whether Indemnitee is entitled to indemnification
shall not have made a determination within thirty (30) days after receipt by the Company of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification,
thereto; provided, however, that the foregoing provisions of this Section 8(g) shall not apply
if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 8(b) of this
Agreement and if within fifteen (15) days after receipt by the Company of the request for such determination the Board or the Disinterested
Directors, if appropriate, resolve to submit such determination to the stockholders for their consideration (i) at the next annual
meeting thereof and such determination is made thereat or (ii) if an annual meeting is not to be held within seventy-five (75)
days after such receipt, at a special meeting of stockholders held for such purpose within seventy-five (75) days after such receipt.

 

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(h)          Indemnitee
shall reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee's entitlement
to indemnification, and provide to such person, persons or entity upon reasonable advance request any documentation or information
which is under the control of or in the possession of Indemnitee and reasonably necessary to such determination. Nothing in this
Agreement shall require Indemnitee to waive any of Indemnitee's rights under the United States Constitution or to provide information
which is privileged or otherwise protected from disclosure. Any Independent Legal Counsel, member of the Board, or stockholder
of the Company shall act reasonably and in good faith in making a determination under the Agreement of Indemnitee's entitlement
to indemnification. Any costs or expenses (including attorneys' fees and disbursements) incurred by Indemnitee in so cooperating
with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as
to Indemnitee's entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(i)          Neither
the failure of the Company (including by the Board or Independent Legal Counsel) to have made a determination prior to the commencement
of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable
standard of conduct nor an actual determination by the Company (including by the Board or Independent Legal Counsel) that Indemnitee
has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not
met the applicable standard of conduct. The termination of a Proceeding by judgment, order, settlement or conviction, or upon a
plea of nolo contendere or its equivalent, shall not, of itself, (i) establish that Indemnitee does not meet the criteria
for entitlement to indemnification set forth in Section 3 or (ii) otherwise adversely affect the rights of Indemnitee to
indemnification except as may be provided herein.

 

(j)          Promptly
after a determination has been made or is deemed to have been made that Indemnitee is entitled to indemnification in respect of
any Proceeding, or, if no such determination is then required by law, within 30 days after receipt by the Company of a request
for indemnification pursuant to Section 8(a) the Company shall pay to Indemnitee all amounts for which Indemnitee has sought
indemnification. The Company shall not deny or delay payment of any amount for which Indemnitee has sought indemnification for
any reason unless a determination is required by law to be made and has been made in the specific case that Indemnitee is not entitled
to Indemnification.

 

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9.           REMEDIES.

 

(a)          In
the event that (i) a determination is made pursuant to Section 8 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses is not timely made pursuant to this Agreement, (iii) no determination of entitlement
to indemnification shall have been made pursuant to Section 8(b) of this Agreement within 60 days after receipt by the Company
of the request for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement within fifteen (15)
days after receipt by the Company of a written request therefor, or (v) payment of indemnification is not made within fifteen (15)
days after a determination has been made that Indemnitee is entitled to indemnification or such determination is deemed to have
been made pursuant to Section 8 of this Agreement, Indemnitee shall be entitled to an adjudication of Indemnitee's entitlement
to such indemnification. The Company shall not oppose Indemnitee's right to seek any such adjudication.

 

(b)          In
the event that a determination shall have been made pursuant to Section 8(b) of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding commenced pursuant to this Section 9 shall be conducted in all respects as a
de novo trial, on the merits and Indemnitee shall not be prejudiced in any way by reason of that adverse determination.

 

(c)          If
a determination shall have been made pursuant to Section 8(b) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 9, absent
a prohibition of such indemnification under applicable law.

 

(d)          In
the event that Indemnitee, pursuant to this Section 9, seeks a judicial adjudication of Indemnitee's rights under, or to
recover damages for breach of, this Agreement, or to recover under any directors' and officers' liability insurance policies maintained
by the Company, the Company shall pay on Indemnitee's behalf, in advance (within 10 days of receipt by the Company of any request
therefore), any and all expenses (including for these purposes all items contemplated to be within the meaning of the term "Expenses"
as if such adjudication were a Proceeding) actually and reasonably incurred by Indemnitee in connection with such judicial adjudication,
regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of expenses or insurance
recovery.

 

(e)          The
Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section 9 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company
is bound by all the provisions of this Agreement and, in the event the Company shall hereafter fail to comply with this covenant,
to the fullest extent permitted by law, the Company hereby irrevocably and unconditionally stipulates for the purpose of any such
proceeding that such procedures and presumptions are valid, binding and enforceable against it and that it is bound by all the
provisions of this Agreement.

 

(f)          In
the event that Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 9, Indemnitee shall not
be required to reimburse the Company for any advances of expenses, pursuant to Section 7 or otherwise, until a final determination
is made by a court of competent jurisdiction with respect to Indemnitee's entitlement to Indemnification (as to which all rights
of appeal have been exhausted or lapsed). Interest shall be paid by the Company to Indemnitee at the legal rate under Delaware
law for amounts which the Company indemnifies or is obliged to indemnify for the period commencing with the date on which Indemnitee
requests indemnification (or reimbursement or advancement of any expenses) and ending with the date on which such payment is made
to the Indemnitee by the Company.

 

    	11

    	 

    

 

10.         NON-EXCLUSIVITY;
SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

 

(a)          The
rights of indemnification and advancement of Expenses provided by this Agreement shall not be deemed exclusive of any other rights
to which Indemnitee may at any time be entitled under applicable law, the Certificate, the By-laws, any agreement, a vote of stockholders
or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof or
of the Certificate or the By-laws or of any provision thereof shall limit or restrict any right of Indemnitee under this Agreement,
the Certificate or the By-laws in respect of any action taken or omitted by Indemnitee in Indemnitee's Corporate Status prior to
such amendment, alteration or repeal. To the extent that a change in the law, whether by statute or judicial decision, permits
greater indemnification than would be afforded currently under this Agreement, the Certificate or the By-laws it is the intent
of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or
remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative
and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent or later assertion
or employment of any other right or remedy.

 

(b)          To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise which such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance
with its or their terms to the maximum extent of the coverage available for any such director, officer, employee, agent or fiduciary
under such policy or policies.

 

(c)          In
the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of an Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

(d)          The
Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the
extent that Indemnitee has otherwise actually received an indemnification, insurance or similar payment therefore under any insurance
policy, contract or agreement or otherwise pursuant to the exercise of statutory rights or as a result of any Proceeding.

 

    	12

    	 

    

 

11.         EXCEPTION
TO RIGHT OF INDEMNIFICATION. Notwithstanding any other provision of this Agreement, Indemnitee shall not be entitled under
this Agreement:

 

(a)          to
indemnification or advancement of expenses with respect to any Proceeding brought by Indemnitee, or any claim therein (except proceedings
and claims brought to enforce rights to indemnification under this Agreement or Article Thirteenth and claims by way of defense,
counterclaim or crossclaim), unless (i) the bringing of such Proceeding or making of such claim shall have been approved by the
Board, or (ii) as otherwise required under Section 145 of the General Corporation Law of the State of Delaware, regardless of whether
Indemnitee is determined to be entitled to such indemnification or insurance recovery as the case may be; or

 

(b)          to
indemnification or advancement of expenses with respect to any Proceeding for an accounting of profits made from the purchase and
sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Securities Exchange
Act of 1934, as amended, or similar provisions of state statutory law or common law; or

 

(c)          to
indemnification in respect of conduct which has been finally determined by a court of competent jurisdiction (as to which all rights
of appeal have been exhausted or lapsed) to have been knowingly fraudulent or to constitute intentional misconduct or knowing violation
of the law.

 

12.         DURATION
OF AGREEMENT. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is
serving as a director, officer, employee, agent or fiduciary of the Company or is serving at the request of the Company as a director,
officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise and shall continue thereafter so long as Indemnitee may be subject to any possible Proceeding (or any proceeding commenced
under Section 9 hereof) by reason of (or arising out of or relating to) Indemnitee's Corporate Status, whether or not Indemnitee
is acting or serving in any such capacity at the time such Proceeding is commenced or at the time any liability or expense is incurred
for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the benefit of
and be enforceable by the parties hereto and their respective successors (including any direct or indirect successor by purchase,
merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), assigns, spouses, heirs,
executors, administrators, and personal and legal representatives. The Company shall not effect any sale, lease, exchange or other
disposition of all or substantially all of its assets determined on either an unconsolidated or consolidated basis (in one or a
series of related transactions) or be party to any merger, consolidation or similar transaction in which it is not the surviving
entity unless the acquiring or surviving entity agrees in writing to (and does) assume all obligations of the Company under this
Agreement, it being understood and agreed that this Agreement shall continue in full force and effect after any such transaction,
and such surviving entity shall be bound by the terms hereof, whether or not this sentence has been complied with. This Agreement
shall continue in effect regardless of whether Indemnitee continues to serve as an officer or director of the Company or any other
enterprise at the Company's request.

 

    	13

    	 

    

 

13.         ENFORCEMENT.

 

(a)          The
Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve or continue to serve in Indemnitee's Corporate Status (and to eliminate any uncertainty
regarding Indemnitee's continuing enforceable rights to indemnification, advancement of expenses and contribution for acts or omissions
occurring before, on or after the date hereof), and the Company acknowledges that Indemnitee is relying upon this Agreement in
serving or continuing to serve in any Corporate Status, now or hereafter. The Company and Indemnitee concur that such service of
Indemnitee, and the warranties, covenants and agreements of the Company and Indemnitee contained herein comprise good and valuable
consideration the receipt and sufficiency of which are hereby acknowledged.

 

(b)          This
Agreement, including Exhibit A hereto which is an integral part of this Agreement and, to the extent enforcement may be
sought hereunder, Article Thirteenth, constitute the entire agreement between the parties hereto with respect to the subject matter
hereof and supersede all prior agreements and understandings, oral, written and implied, between the parties hereto with respect
to the subject matter hereof. It is understood and agreed that Article Thirteenth which, at the election of Indemnitee may be enforced
hereunder, is also an independent right which may be enforced by Indemnitee independently of or concurrently with Indemnitee's
rights under this Agreement.

 

(c)          The
obligations of the Company and the rights of the Indemnitee pursuant to this Agreement, including those that may arise under Article
Thirteenth, are fully effective and vested on the date of this Agreement, are for indemnification, advancement of Expenses and
contribution in respect of any action actually or alleged to have been taken or omitted by Indemnitee in any Corporate Status regardless
of whether such action or omission occurred prior to the date hereof or hereafter, are not contingent or dependent upon the occurrence
or existence of any other fact, circumstance or event, and may not be limited or narrowed in any way after the date of this Agreement,
whether before or after any Proceeding with respect to any such actual or alleged action or omission is commenced, except by an
amendment hereto expressly agreed to in a writing manually executed by the Indemnitee and delivered to the Company.

 

(d)          The
Company and the Indemnitee agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that they each
will be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and
provisions of this Agreement, this being in addition to any other remedy to which they are entitled at law or in equity.

 

    	14

    	 

    

 

14.         SEVERABILITY.
If any provision or provisions of this Agreement shall be held by a court of competent jurisdiction to be invalid, void, illegal
or otherwise unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions
of this Agreement (including without limitation, each portion of any section of this Agreement containing any such provision held
to be invalid, void, illegal or unenforceable, that is not itself invalid, illegal, void or otherwise unenforceable) shall not
in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) to the fullest
extent possible, this Agreement and the provisions hereof (including, without limitation, each portion of any section of this Agreement
containing any such provision held to be invalid, illegal, void or otherwise unenforceable, that is not itself invalid, illegal,
void or otherwise unenforceable) shall be construed so as to give effect to the intent manifested thereby and the intended interpretation
of this Agreement as expressed herein; and (c) a court shall have the power to fashion and enforce another provision (or portion
thereof), instead of any invalid, void, illegal or otherwise unenforceable provision hereof (or portion thereof), that is enforceable
to carry out the intent of such provision and this Agreement as expressed herein.

 

15.         MODIFICATION
AND WAIVER. No supplement, modification, termination or amendment of this Agreement shall be binding or enforceable against
the parties hereto unless the same is (i) made by a court of competent jurisdiction pursuant to Section 14 hereof, (ii)
if enforcement is sought against Indemnitee, set forth in a writing manually executed by Indemnitee and delivered to the Company;
or (iii) if enforcement is sought against the Company, set forth in a writing manually executed by the Company and delivered to
the Indemnitee. The Company shall not supplement, modify, terminate or amend the Certificate or By-laws, or any provision thereof,
if the effect thereof would directly or indirectly limit, narrow or diminish in any way any rights thereunder in respect of indemnification,
advancement of expenses or contribution (including procedural rights and presumptions) from those in existence immediately prior
to such supplement, amendment, termination or modification. No waiver of any of the provisions of this Agreement shall be deemed
or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing
waiver.

 

16.         NOTICE
BY INDEMNITEE. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena,
complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification
covered hereunder. The failure to so notify the Company shall not relieve the Company of any obligation which it has to Indemnitee
under this Agreement or otherwise.

 

17.         NOTICES.
All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given
if (i) delivered by and receipted for by the party to whom said notice or other communication shall have been directed or if (ii)
mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed
or (iii) on the first business day following the date on which it is mailed if delivered by a nationally recognized next-day courier
service:

 

    	15

    	 

    

 

(a)          If
to Indemnitee, to:

  

(b)          If
to the Company, to:

 

LifePoint Hospitals, Inc.

103 Powell Court

Brentwood, Tennessee 37027

Attn: Chief Legal Counsel

 

With copies to:

 

LifePoint Hospitals, Inc.

103 Powell Court

Brentwood, Tennessee 37027

Attn: Corporate Secretary

 

18.         IDENTICAL
COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to
be an original but all of which together shall constitute one and the same Agreement. The signatures of both parties need not appear
on the same counterpart, and delivery of an executed counterpart signature page by facsimile is as effective as executing and delivering
this Agreement manually in the presence of the other party thereto. Only one such counterpart signed by the party against whom
enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

19.         HEADINGS.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction thereof.

 

    	16

    	 

    

 

20.         GOVERNING
LAW. The parties agree that this Agreement, and all matters arising out of or related to this Agreement, shall be governed
by, and interpreted, construed and enforced in accordance with, the laws of the State of Delaware but without giving effect to
the applicable conflict of laws principles thereof to the extent that the application of the laws of another jurisdiction would
be required thereby. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding
arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the "Delaware
Court"), and not in any other state or federal court in the United States of America or any court in any other country,
(ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out
of or in connection with this Agreement, (iii) irrevocably appoint and name, to the extent such party is not otherwise subject
to service of process in the State of Delaware, Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, Delaware
19808 as its agent in the State of Delaware, including as such party's agent for acceptance of legal process in connection with
any such action or proceeding against such party with the same legal force and validity as if served upon such party personally
within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware
Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court
has been brought in an improper or inconvenient forum.

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the day and year first above written.

 

	 	LIFEPOINT HOSPITALS, INC.
	 	 
	 	By	 
	 	 	Name:
	 	 	Title:
	 	 
	 	 
	 	Indemnitee

 

    	17

    	 

    

 

Exhibit
A

 

UNDERTAKING

 

1.          I,
[insert name], am the Indemnitee defined as such under that certain Indemnification Agreement (the "Indemnification
Agreement") made and entered into as of the [l] day of [l],
20[l], by and between me and LifePoint Hospitals, Inc. ("LifePoint"),
and I may also be entitled to certain rights to advancement under the Amended and Restated Articles of Incorporation of LifePoint
Hospitals, Inc. ("LifePoint"), in particular Article Thirteenth thereof ("Article Thirteenth").*
I have read and understand the Indemnification Agreement and the Amended and Restated Articles of Incorporation of LifePoint,
in particular Article Thirteenth. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the
Indemnification Agreement.

 

2.          I
am involved in a [insert brief description of the proceeding] (the "Proceeding").

 

3.          I
understand that:

 

(i)  pursuant to the Indemnification Agreement
certain Expenses shall be advanced to me in accordance with the terms of the Indemnification Agreement upon receipt of this undertaking,
and

 

(ii)  pursuant to Article Thirteenth, costs, charges,
and expenses (including attorneys' fees) incurred by me in defending the Proceeding shall be paid by LifePoint in advance of the
final disposition of the Proceeding, in accordance with the procedures set forth in such Article, upon receipt of an undertaking
by me to repay all amounts so advanced in the event that it shall ultimately be determined that I am not entitled to be indemnified
by LifePoint.

 

4.          I
hereby request that LifePoint advance (i) in accordance with the terms of the Indemnification Agreement, all Expenses incurred
by me or on my behalf in connection with such Proceeding, and (ii) to the extent applicable, in accordance with the terms of Article
Thirteenth, all costs, charges and expenses (including attorneys' fees) incurred by me in defending the Proceeding (it being understood
and agreed that in the event of any conflict between the preceding clauses (i) and (ii), the provisions providing for advancement
of Expenses that are most favorable to Indemnitee, including as to the amount and promptness of advance payments, shall be honored).

 

 

 

		*	At the option and sole discretion of Indemnitee, Clauses 3(ii) and 4(ii) of this undertaking may be omitted at the time
this undertaking is provided. It is understood and agreed that no such omission shall be deemed an admission by Indemnitee that
advancement of expenses or indemnification pursuant to Article Thirteenth is not available to Indemnitee or an election of remedies
by Indemnitee.

 

    	 

    	 

    

 

5.          (a)
I undertake to repay all amounts advanced in the event that it shall ultimately be determined that I am not entitled to indemnification
by LifePoint, it being understood and agreed that, in respect of any amount which is permitted to be advanced under both the Indemnification
Agreement and Article Thirteenth, I am not obligated to repay such amount unless and until it has been determined that I am not
entitled to indemnification in respect thereof under both of the Indemnification Agreement and Article Thirteenth (with respect
to the latter, whether or not I have specifically sought advancement of Expenses thereunder).

 

(b) If, when and to the extent that the Company
determines (in accordance with the presumptions, burdens and procedures set forth in, and terms and conditions of, the Indemnification
Agreement, including for the avoidance of doubt those set forth in Section 7 and Section 8 of the Indemnification
Agreement) that I am not permitted to be indemnified under applicable law, the Company shall be entitled to be reimbursed by me
for all such amounts theretofore paid to me as advancement of Expenses within thirty (30) days of the later of the date of such
determination and the date on which the judicial determination contemplated by clause (iii) of Section 7(c) of the Indemnification
Agreement ceases to be subject to appeal.

 

*  *  *

 

I have made this undertaking required by the
Indemnification Agreement as of the date written under my signature below.

 

	 	 	 
	 	 	[Insert Name]
	 	 
	 	Dated:	 

 

    	A-2Novelos Therapeutics, Inc.

 

AMENDED AND RESTATED

2006 STOCK INCENTIVE PLAN

 

SECTION 1. General Purpose of the Plan; Definitions

 

The purpose of this Amended and Restated
2006 Stock Incentive Plan (the “Plan”) is to encourage and enable officers and employees of, and other persons providing
services to, Novelos Therapeutics, Inc. (the “Company”) and its Affiliates to acquire a proprietary interest in the
Company. It is anticipated that providing such persons with a direct stake in the Company’s welfare will assure a closer
identification of their interests with those of the Company and its shareholders, thereby stimulating their efforts on the Company’s
behalf and strengthening their desire to remain with the Company.

 

The following terms shall be defined as
set forth below:

 

“Affiliate” means a parent corporation,
if any, and each subsidiary corporation of the Company, as those terms are defined in Section 424 of the Code.

 

“Award” or “Awards”,
except where referring to a particular category of grant under the Plan, shall include Incentive Stock Options, Non-Statutory Stock
Options, Restricted Stock Awards, Unrestricted Stock Awards, Performance Share Awards and Stock Appreciation Rights. Awards shall
be evidenced by a written agreement (which may be in electronic form and may be electronically acknowledged and accepted by the
recipient) containing such terms and conditions not inconsistent with the provisions of this Plan as the Committee shall determine.

 

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

 

“Cause” shall mean, with respect
to any Award holder, a determination by the Company (including the Board) or any Affiliate that the Holder’s employment or
other relationship with the Company or any such Affiliate should be terminated as a result of (i) a material breach by the Award
holder of any agreement to which the Award holder and the Company (or any such Affiliate) are parties, (ii) any act (other than
retirement) or omission to act by the Award holder that may have a material and adverse effect on the business of the Company,
such Affiliate or any other Affiliate or on the Award holder’s ability to perform services for the Company or any such Affiliate,
including, without limitation, the proven or admitted commission of any crime (other than an ordinary traffic violation), or (iii)
any material misconduct or material neglect of duties by the Award holder in connection with the business or affairs of the Company
or any such Affiliate.

 

“Change of Control” shall have
the meaning set forth in Section 15.

 

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

 

“Committee” shall have the meaning
set forth in Section 2.

 

“Disability” means disability
as set forth in Section 22(e)(3) of the Code.

 

    	 

    	 

    

 

“Effective Date” means the date
on which the Plan is approved by the Board of Directors as set forth in Section 17.

 

“Eligible Person” shall have
the meaning set forth in Section 4.

 

“Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended.

 

“Fair Market Value” on any given
date means the closing price per share of the Stock on such date as reported by such registered national securities exchange on
which the Stock is listed, or, if the Stock is not listed on such an exchange, as quoted on NASDAQ; provided, that, if there is
no trading on such date, Fair Market Value shall be deemed to be the closing price per share on the last preceding date on which
the Stock was traded. If the Stock is not listed on any registered national securities exchange or quoted on NASDAQ, the Fair Market
Value of the Stock shall be determined in good faith by the Committee.

 

“Incentive Stock Option” means
any Stock Option designated and qualified as an “incentive stock option” as defined in Section 422 of the Code.

 

“Non-Employee Director” means
any director who: (i) is not currently an officer of the Company or an Affiliate, or otherwise currently employed by the Company
or an Affiliate, (ii) does not receive compensation, either directly or indirectly, from the Company or an Affiliate, for services
rendered as a consultant or in any capacity other than as a director, except for an amount that does not exceed the dollar amount
for which disclosure would be required pursuant to Rule 404(a) of Regulation S-K promulgated by the SEC, (iii) does not possess
an interest in any other transaction for which disclosure would be required pursuant to Rule 404(a) of Regulation S-K, and (iv)
is not engaged in a business relationship for which disclosure would be required pursuant to Rule 404(b) of Regulation S-K.

 

“Non-Statutory Stock Option”
means any Stock Option that is not an Incentive Stock Option.

 

“Normal Retirement” means retirement
in good standing from active employment with the Company and its Affiliates in accordance with the retirement policies of the Company
and its Affiliates then in effect.

 

“Option” or “Stock Option”
means any option to purchase shares of Stock granted pursuant to Section 5.

 

“Outside Director” means any
director who (i) is not an employee of the Company or of any “affiliated group,” as such term is defined in Section
1504(a) of the Code, which includes the Company (an “Affiliated Group Member”), (ii) is not a former employee of the
Company or any Affiliated Group Member who is receiving compensation for prior services (other than benefits under a tax-qualified
retirement plan) during the Company’s or any Affiliated Group Member’s taxable year, (iii) has not been an officer
of the Company or any Affiliated Group Member and (iv) does not receive remuneration from the Company or any Affiliated Group Member,
either directly or indirectly, in any capacity other than as a director. “Outside Director” shall be determined in
accordance with Section 162(m) of the Code and the Treasury regulations issued thereunder.

 

“Performance Share Award” means
an Award pursuant to Section 8.

 

“Restricted Stock Award” means
an Award granted pursuant to Section 6.

 

“SEC” means the Securities and
Exchange Commission or any successor authority.

 

    	2

    	 

    

 

“Stock” means the common stock,
$0.00001 par value per share, of the Company, subject to adjustments pursuant to Section 3.

 

“Stock Appreciation Right” means
an Award granted pursuant to Section 9.

 

“Unrestricted Stock Award” means
Awards granted pursuant to Section 7.

 

SECTION 2. Administration of Plan; Committee Authority to
Select Participants and Determine Awards.

 

(a)   Committee. It is intended that the Plan
shall be administered by the Compensation Committee of the Board (the “Committee”), consisting of not less than two
(2) persons each of whom qualifies as an Outside Director and a Non-Employee Director, but the authority and validity of any act
taken or not taken by the Committee shall not be affected if any person administering the Plan is not an Outside Director or a
Non-Employee Director. Except as specifically reserved to the Board under the terms of the Plan, and subject to any limitations
set forth in the charter of the Committee, the Committee shall have full and final authority to operate, manage and administer
the Plan on behalf of the Company.

 

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

 

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

 

(ii)   to determine the time or times of grant,
and the extent, if any, of Incentive Stock Options, Non-Statutory Stock Options, Restricted Stock, Unrestricted Stock, Performance
Shares and Stock Appreciation Rights, or any combination of the foregoing, granted to any one or more participants;

 

(iii)   to determine the number of shares to
be covered by any Award;

 

(iv)   to determine and modify the terms and
conditions, including restrictions, not inconsistent with the terms of the Plan, of any Award, which terms and conditions may differ
among individual Awards and participants, and to approve the form of written instruments evidencing the Awards; provided, however,
that no such action shall adversely affect rights under any outstanding Award without the participant’s consent;

 

(v)   to accelerate the exercisability or vesting
of all or any portion of any Award;

 

(vi)   to extend the period in which any outstanding
Stock Option or Stock Appreciation Right may be exercised; and

 

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

 

All decisions and interpretations of the
Committee shall be binding on all persons, including the Company and Plan participants. No member or former member of the Committee
or the Board shall be liable for any action or determination made in good faith with respect to this Plan.

    	3

    	 

    

  

SECTION 3. Shares Issuable under the Plan; Mergers; Substitution.

 

(a)   Shares Issuable. The maximum number
of shares of Stock which may be issued in respect of Awards (including Stock Appreciation Rights) granted under the Plan, subject
to adjustment upon changes in capitalization of the Company as provided in this Section 3, shall be 10,000,000 shares, subject
to adjustment upon changes in capitalization of the Company as provided in this Section 3. For purposes of this limitation, the
shares of Stock underlying any Awards which are forfeited, cancelled, reacquired by the Company or otherwise terminated (other
than by exercise) shall be added back to the shares of Stock with respect to which Awards may be granted under the Plan. Shares
issued under the Plan may be authorized but unissued shares or shares reacquired by the Company.

 

(b)   Stock Dividends, Mergers, etc. In the
event that after approval of the Plan by the stockholders of the Company in accordance with Section 17, the Company effects a stock
dividend, stock split or similar change in capitalization affecting the Stock, the Committee shall make appropriate adjustments
in (i) the number and kind of shares of stock or securities with respect to which Awards may thereafter be granted (including without
limitation the limitations set forth in Sections 3(a) and (b) above), (ii) the number and kind of shares remaining subject to outstanding
Awards, and (iii) the option or purchase price in respect of such shares. In the event of any merger, consolidation, dissolution
or liquidation of the Company, the Committee in its sole discretion may, as to any outstanding Awards, make such substitution or
adjustment in the aggregate number of shares reserved for issuance under the Plan and in the number and purchase price (if any)
of shares subject to such Awards as it may determine and as may be permitted by the terms of such transaction, or accelerate, amend
or terminate such Awards upon such terms and conditions as it shall provide (which, in the case of the termination of the vested
portion of any Award, shall require payment or other consideration which the Committee deems equitable in the circumstances), subject,
however, to the provisions of Section 15.

 

(c)   Substitute Awards. The Committee may
grant Awards under the Plan in substitution for stock and stock based awards held by employees of another corporation who concurrently
become employees of the Company or an Affiliate as the result of a merger or consolidation of the employing corporation with the
Company or an Affiliate or the acquisition by the Company or an Affiliate of property or stock of the employing corporation. The
Committee may direct that the substitute awards be granted on such terms and conditions as the Committee considers appropriate
in the circumstances.

 

SECTION 4. Eligibility.

 

Awards may be granted to officers, directors
and employees of, and consultants and advisers to, the Company or its Affiliates (“Eligible Persons”).

 

SECTION 5. Stock Options.

 

The Committee may grant to Eligible Persons
options to purchase stock.

 

Any Stock Option granted under the Plan
shall be in such form as the Committee may from time to time approve.

 

Stock Options granted under the Plan may
be either Incentive Stock Options (subject to compliance with applicable law) or Non-Statutory Stock Options. Unless otherwise
so designated, an Option shall be a Non-Statutory Stock Option. To the extent that any option does not qualify as an Incentive
Stock Option, it shall constitute a Non-Statutory Stock Option.

 

    	4

    	 

    

 

No Incentive Stock Option shall be granted
under the Plan after the tenth anniversary of the date of adoption of the Plan by the Board.

 

The Committee in its discretion may determine
the effective date of Stock Options, provided, however, that grants of Incentive Stock Options shall be made only to persons who
are, on the effective date of the grant, employees of the Company or an Affiliate. Stock Options granted pursuant to this Section
5 shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee shall deem
desirable.

 

(a)   Exercise Price. The exercise price per
share for the Stock covered by a Stock Option granted pursuant to this Section 5 shall be determined by the Committee at the time
of grant but shall be not less than one hundred percent (100%) of Fair Market Value on the date of grant. If an employee owns or
is deemed to own (by reason of the attribution rules applicable under Section 424(d) of the Code) more than ten percent (10%) of
the combined voting power of all classes of stock of the Company or any subsidiary or parent corporation and an Incentive Stock
Option is granted to such employee, the option price shall be not less than one hundred ten percent (110%) of Fair Market Value
on the day immediately preceding the date of grant.

 

(b)   Option Term. The term of each Stock
Option shall be fixed by the Committee, but no Incentive Stock Option shall be exercisable more than ten (10) years after the date
the option is granted. If an employee owns or is deemed to own (by reason of the attribution rules of Section 424(d) of the Code)
more than ten percent (10%) of the combined voting power of all classes of stock of the Company or any subsidiary or parent corporation
and an Incentive Stock Option is granted to such employee, the term of such option shall be no more than five (5) years from the
date of grant.

 

(c)   Exercisability; Rights of a Shareholder.
Stock Options shall become vested and exercisable at such time or times, whether or not in installments, as shall be determined
by the Committee. The Committee may at any time accelerate the exercisability of all or any portion of any Stock Option. An optionee
shall have the rights of a shareholder only as to shares acquired upon the exercise of a Stock Option and not as to unexercised
Stock Options.

 

(d)   Method of Exercise. Stock Options may
be exercised in whole or in part, by delivering written notice of exercise to the Company, specifying the number of shares to be
purchased. Payment of the purchase price may be made by delivery of cash or bank check or other instrument acceptable to the Committee
in an amount equal to the exercise price of such Options, or, to the extent provided in the applicable Option Agreement, by one
or more of the following methods:

 

(i)   by delivery to the Company of shares of
Stock of the Company having a Fair Market Value equal in amount to the aggregate exercise price of the Options being exercised;
or

 

(ii)   if the class of Stock is registered under
the Exchange Act at such time, by delivery to the Company of a properly executed exercise notice along with irrevocable instructions
to a broker to deliver promptly to the Company cash or a check payable and acceptable to the Company for the purchase price; provided
that in the event that the optionee chooses to pay the purchase price as so provided, the optionee and the broker shall comply
with such procedures and enter into such agreements of indemnity and other agreements as the Committee shall prescribe as a condition
of such payment procedure (including, in the case of an optionee who is an executive officer of the Company, such procedures and
agreements as the Committee deems appropriate in order to avoid any extension of credit in the form of a personal loan to such
officer). The Company need not act upon such exercise notice until the Company receives full payment of the exercise price; or

 

    	5

    	 

    

 

(iii)   by reducing the number of Option shares
otherwise issuable to the optionee upon exercise of the Option by a number of shares of Common Stock having a Fair Market Value
equal to such aggregate exercise price of the Options being exercised; or

 

(iv)   by any combination of such methods of
payment.

 

The delivery of certificates representing
shares of Stock to be purchased pursuant to the exercise of a Stock Option will be contingent upon receipt from the Optionee (or
a purchaser acting in his stead in accordance with the provisions of the Stock Option) by the Company of the full purchase price
for such shares and the fulfillment of any other requirements contained in the Stock Option or imposed by applicable law.

 

(e)   Non-transferability of Options. Except
as the Committee may provide with respect to a Non-Statutory Stock Option, no Stock Option shall be transferable other than by
will or by the laws of descent and distribution and all Stock Options shall be exercisable, during the optionee’s lifetime,
only by the optionee.

 

(f)   Annual Limit on Incentive Stock Options.
To the extent required for “incentive stock option” treatment under Section 422 of the Code, the aggregate Fair Market
Value (determined as of the time of grant) of the Stock with respect to which Incentive Stock Options granted under this Plan and
any other plan of the Company or its Affiliates become exercisable for the first time by an optionee during any calendar year shall
not exceed $100,000.

 

SECTION 6. Restricted Stock Awards.

 

(a)   Nature of Restricted Stock Award. The
Committee in its discretion may grant Restricted Stock Awards to any Eligible Person, entitling the recipient to acquire, for such
purchase price, if any, as may be determined by the Committee, shares of Stock subject to such restrictions and conditions as the
Committee may determine at the time of grant (“Restricted Stock”), including continued employment and/or achievement
of pre-established performance goals and objectives.

 

(b)   Acceptance of Award. A participant who
is granted a Restricted Stock Award shall have no rights with respect to such Award unless the participant shall have accepted
the Award within sixty (60) days (or such shorter date as the Committee may specify) following the award date by making payment
to the Company of the specified purchase price, if any, of the shares covered by the Award and by executing and delivering to the
Company a written instrument that sets forth the terms and conditions applicable to the Restricted Stock in such form as the Committee
shall determine.

 

(c)   Rights as a Shareholder. Upon complying
with Section 6(b) above, a participant shall have all the rights of a shareholder with respect to the Restricted Stock, including
voting and dividend rights, subject to non-transferability restrictions and Company repurchase or forfeiture rights described in
this Section 6 and subject to such other conditions contained in the written instrument evidencing the Restricted Award. Unless
the Committee shall otherwise determine, certificates evidencing shares of Restricted Stock Award shall remain in the possession
of the Company until such shares are vested as provided in Section 6(e) below.

 

(d)   Restrictions. Shares of Restricted Stock
may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of except as specifically provided herein.
In the event of termination of employment by the Company and its Affiliates for any reason (including death, Disability, Normal
Retirement and for Cause), any shares of Restricted Stock which have not then vested shall automatically be forfeited to the Company.

 

    	6

    	 

    

 

(e)   Vesting of Restricted Stock. The Committee
at the time of grant shall specify the date or dates and/or the attainment of pre-established performance goals, objectives and
other conditions on which the non-transferability of the Restricted Stock and the Company’s right of forfeiture shall lapse.
Subsequent to such date or dates and/or the attainment of such pre-established performance goals, objectives and other conditions,
the shares on which all restrictions have lapsed shall no longer be Restricted Stock and shall be deemed “vested.”
The Committee at any time may accelerate such date or dates and otherwise waive or, subject to Section 13, amend any conditions
of the Award.

 

(f)   Waiver, Deferral and Reinvestment of
Dividends. The written instrument evidencing the Restricted Stock Award may require or permit the immediate payment, waiver, deferral
or investment of dividends paid on the Restricted Stock.

 

SECTION 7. Unrestricted Stock Awards.

 

(a)   Grant or Sale of Unrestricted Stock.
The Committee in its discretion may grant or sell to any Eligible Person shares of Stock free of any restrictions under the Plan
(“Unrestricted Stock”) at a purchase price determined by the Committee. Shares of Unrestricted Stock may be granted
or sold as described in the preceding sentence in respect of past services or other valid consideration.

 

(b)   Restrictions on Transfers. The right
to receive unrestricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered, other than by will or the
laws of descent and distribution.

 

SECTION 8. Performance Share Awards.

 

A Performance Share Award is an award entitling
the recipient to acquire shares of Stock upon the attainment of specified performance goals. The Committee may make Performance
Share Awards independent of or in connection with the granting of any other Award under the Plan. Performance Share Awards may
be granted under the Plan to any Eligible Person. The Committee in its discretion shall determine whether and to whom Performance
Share Awards shall be made, the performance goals applicable under each such Award (which may include, without limitation, continued
employment by the recipient or a specified achievement by the recipient, the Company or any business unit of the Company), the
periods during which performance is to be measured, and all other limitations and conditions applicable to the Award or the Stock
issuable thereunder. Upon the attainment of the specified performance goal shares of Stock shall be issued pursuant to the Performance
Share Award as soon as practicable thereafter, but in no event later than two and one-half months after the calendar year in which
such performance goal is attained.

 

SECTION 9. Stock Appreciation Rights.

 

The Committee in its discretion may grant
Stock Appreciation Rights to any Eligible Person. A Stock Appreciation Right shall entitle the participant upon exercise thereof
to receive from the Company, upon written request to the Company at its principal offices (the “Request”), a number
of shares of Stock, a cash payment, or a combination of shares and cash (as provided in the Stock Appreciation Right) having an
aggregate Fair Market Value equal to the product of (a) the excess of Fair Market Value, on the date of such Request, over the
exercise price per share of Stock specified in such Stock Appreciation Right (which exercise price shall be not less than one hundred
percent (100%) of Fair Market Value on the date of grant), multiplied by (b) the number of shares of Stock for which such Stock
Appreciation Right shall be exercised.

 

    	7

    	 

    

 

SECTION 10. Termination of Stock Options and Stock Appreciation
Rights.

 

(a)   Incentive Stock Options:

 

(i)   Termination by Death. If any participant’s
employment by the Company and its Affiliates terminates by reason of death, any Incentive Stock Option owned by such participant
may thereafter be exercised to the extent exercisable at the date of death, by the legal representative or legatee of the participant,
for a period of one hundred eighty (180) days from the date of death, or until the expiration of the stated term of the Incentive
Stock Option, if earlier.

 

(ii)   Termination by Reason of Disability or
Normal Retirement.

 

(A)   Any Incentive Stock Option held
by a participant whose employment by the Company and its Affiliates has terminated by reason of Disability may thereafter be exercised,
to the extent it was exercisable at the time of such termination, for a period of ninety (90) days from the date of such termination
of employment, or until the expiration of the stated term of the Option, if earlier.

 

(B)   Any Incentive Stock Option held
by a participant whose employment by the Company and its Affiliates has terminated by reason of Normal Retirement may thereafter
be exercised, to the extent it was exercisable at the time of such termination, for a period of ninety (90) days from the date
of such termination of employment, or until the expiration of the stated term of the Option, if earlier.

 

(C)   The Committee shall have sole
authority and discretion to determine whether a participant’s employment has been terminated by reason of Disability or Normal
Retirement.

 

(iii)   Involuntary Termination without Cause.
If any participant’s employment by the Company and its Affiliates has been terminated by the Company without Cause, as determined
by the Committee in its sole discretion, any Incentive Stock Option held by such participant may thereafter be exercised, to the
extent it was exercisable on the date of termination of employment, for ninety (90) days from the date of termination of employment
or until the expiration of the stated term of the Option, if earlier.

 

(iv)   Termination for Cause. If any participant’s
employment by the Company and its Affiliates has been terminated for Cause, as determined by the Committee in its sole discretion,
any Incentive Stock Option held by such participant shall immediately terminate and be of no further force and effect.

 

(v)   Other Termination. Unless otherwise determined
by the Committee, if a participant’s employment by the Company and its Affiliates terminates for any reason other than death,
Disability, or Normal Retirement, involuntary termination without Cause, or termination for Cause, any Incentive Stock Option held
by such participant may thereafter be exercised, to the extent it was exercisable on the date of termination of employment, for
thirty (30) days from the date of termination of employment or until the expiration of the stated term of the Option, if earlier.

 

(b)   Non-Statutory Stock Options and Stock
Appreciation Rights. Any Non-Statutory Stock Option or Stock Appreciation Right granted under the Plan shall contain such terms
and conditions with respect to its termination as the Committee, in its discretion, may from time to time determine.

 

    	8

    	 

    

 

SECTION 11. Tax Withholding and Notice.

 

(a)   Payment by Participant. Each participant
shall, no later than the date as of which the value of an Award or of any Stock or other amounts received thereunder first becomes
includable in the gross income of the participant for Federal income tax purposes, pay to the Company, or make arrangements satisfactory
to the Committee regarding payment of any Federal, state, local and/or payroll taxes of any kind required by law to be withheld
with respect to such income. The Company and its Affiliates shall, to the extent permitted by law, have the right to deduct any
such taxes from any payment of any kind otherwise due to the participant.

 

(b)   Payment in Shares. A Participant may
elect, with the consent of the Committee, to have such tax withholding obligation satisfied, in whole or in part, by (i) authorizing
the Company to withhold from shares of Stock to be issued pursuant to an Award a number of shares with an aggregate Fair Market
Value (as of the date the withholding is effected) that would satisfy the withholding amount due with respect to such Award, or
(ii) delivering to the Company a number of shares of Stock with an aggregate Fair Market Value (as of the date the withholding
is effected) that would satisfy the withholding amount due.

 

(c)   Notice of Disqualifying Disposition.
Each holder of an Incentive Option shall agree to notify the Company in writing immediately after making a disqualifying disposition
(as defined in Section 421(b) of the Code) of any Stock purchased upon exercise of an Incentive Stock Option.

 

SECTION 12. Transfer and Leave of Absence.

 

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

 

(a)   a transfer to the employment of the
Company from an Affiliate or from the Company to an Affiliate, or from one Affiliate to another;

 

(b)   an approved leave of absence for military
service or sickness, or for any other purpose approved by the Company, if the employee’s right to re-employment is guaranteed
either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Committee otherwise
so provides in writing; provided, that the vesting date or dates of any unvested Award held by such employee shall automatically
be extended by a period of time equal to the period of such approved leave of absence.

 

SECTION 13. Amendments and Termination.

 

The Board may at any time amend or discontinue
the Plan and the Committee may at any time amend or cancel any outstanding Award for the purpose of satisfying changes in law or
for any other lawful purpose, but no such action shall adversely affect rights under any outstanding Award without the holder’s
consent. Notwithstanding the foregoing, neither the Board nor the Committee shall have the power or authority to decrease the exercise
price of any outstanding Stock Option or Stock Appreciation Right, whether through amendment, cancellation and regrant, exchange
or any other means, except for changes made pursuant to Section 3(c).

 

This Plan shall terminate as of the tenth
anniversary of its effective date. The Board may terminate this Plan at any earlier time for any reason. No Award may be granted
after the Plan has been terminated. No Award granted while this Plan is in effect shall be adversely altered or impaired by termination
of this Plan, except upon the consent of the holder of such Award. The power of the Committee to construe and interpret this Plan
and the Awards granted prior to the termination of this Plan shall continue after such termination.

 

    	9

    	 

    

 

SECTION 14. Status of Plan.

 

With respect to the portion of any Award
which has not been exercised and any payments in cash, Stock or other consideration not received by a participant, a participant
shall have no rights greater than those of a general creditor of the Company unless the Committee shall otherwise expressly determine
in connection with any Award or Awards.

 

SECTION 15. Change of Control Provisions.

 

(a)   Upon the occurrence of a Change of Control
as defined in this Section 15:

 

(i)   subject to the provisions of clause (iii)
below, after the effective date of such Change of Control, each holder of an outstanding Stock Option, Restricted Stock Award,
Performance Share Award or Stock Appreciation Right shall be entitled, upon exercise of such Award, to receive, in lieu of shares
of Stock (or consideration based upon the Fair Market Value of Stock), shares of such stock or other securities, cash or property
(or consideration based upon shares of such stock or other securities, cash or property) as the holders of shares of Stock received
in connection with the Change of Control;

 

(ii)   the Committee may accelerate, fully or
in part, the time for exercise of, and waive any or all conditions and restrictions on, each unexercised and unexpired Stock Option,
Restricted Stock Award, Performance Share Award and Stock Appreciation Right, effective upon a date prior or subsequent to the
effective date of such Change of Control, as specified by the Committee; or

 

(iii)   each outstanding Stock Option, Restricted
Stock Award, Performance Share Award and Stock Appreciation Right may be cancelled by the Committee as of the effective date of
any such Change of Control provided that (x) prior written notice of such cancellation shall be given to each holder of such an
Award and (y) each holder of such an Award shall have the right to exercise such Award to the extent that the same is then exercisable
or, in full, if the Committee shall have accelerated the time for exercise of all such unexercised and unexpired Awards, during
the thirty (30) day period preceding the effective date of such Change of Control.

 

(b)   “Change of Control” shall
mean the occurrence of any one of the following events:

 

(i)   any “person” (as such term
is used in Sections 13(d) and 14(d)(2) of the Exchange Act) becomes, after the Effective Date of this Plan, a “beneficial
owner” (as such term is defined in Rule 13d-3 promulgated under the Exchange Act) (other than the Company, any trustee or
other fiduciary holding securities under an employee benefit plan of the Company, or any corporation owned, directly or indirectly,
by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company), directly
or indirectly, of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s
then outstanding securities; or

 

(ii)   the stockholders of the Company approve
a merger or consolidation of the Company with any other corporation or other entity, other than a merger or consolidation which
would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined
voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation;
or

 

    	10

    	 

    

 

(iii)   the stockholders of the Company approve
a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially
all of the Company’s assets.

 

SECTION 16. General Provisions.

 

(a)   No Distribution; Compliance with Legal
Requirements. The Committee may require each person acquiring shares pursuant to an Award to represent to and agree with the Company
in writing that such person is acquiring the shares without a view to distribution thereof.

 

No shares of Stock shall be issued pursuant
to an Award until all applicable securities laws and other legal and stock exchange requirements have been satisfied. The Committee
may require the placing of such stop orders and restrictive legends on certificates for Stock and Awards as it deems appropriate.

 

(b)   Delivery of Stock Certificates. Delivery
of stock certificates to participants under this Plan shall be deemed effected for all purposes when the Company or a stock transfer
agent of the Company shall have delivered such certificates in the United States mail, addressed to the participant, at the participant’s
last known address on file with the Company.

 

(c)   Other Compensation Arrangements; No
Employment Rights. Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation arrangements,
including trusts, subject to stockholder approval if such approval is required; and such arrangements may be either generally applicable
or applicable only in specific cases. The adoption of the Plan or any Award under the Plan does not confer upon any employee any
right to continued employment with the Company or any Affiliate.

 

(d)   Lock-Up Agreement. By accepting any
Award, the recipient shall be deemed to have agreed that, if so requested by the Company or by the underwriters managing any underwritten
offering of the Company’s securities, the recipient will not, without the prior written consent of the Company or such underwriters,
as the case may be, sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any shares
subject to any such Award during the Lock-up Period, as defined below. The “Lock-Up Period” shall mean a period of
time not exceeding 180 days or, if greater, such number of days as shall have been agreed to by each director and executive officer
of the Company in connection with such offering in a substantially similar lock-up agreement by which each such director and executive
officer is bound. If requested by the Company or such underwriters, the recipient shall enter into an agreement with such underwriters
consistent with the foregoing.

 

SECTION 17. Effective Date of Plan.

 

This Plan shall become effective upon its
adoption by the Company’s Board of Directors. If the Plan shall not be approved by the shareholders of the Company within
twelve months following its adoption, this Plan shall terminate and be of no further force or effect.

 

SECTION 18. Governing Law.

 

This Plan shall be governed by, and construed
and enforced in accordance with, the substantive laws of the State of Delaware without regard to its principles of conflicts of
laws.

  

    	11

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