Document:

EX-10.1

 Exhibit 10.1 

Ducommun Incorporated Amended and Restated 2020 
 Stock
Incentive Plan 
 Section 1. PURPOSE OF PLAN 

The purpose of the Amended and Restated 2020 Stock Incentive Plan (the “Plan”) of Ducommun Incorporated, a Delaware corporation (the
“Company”), is to enable the Company and its subsidiaries to attract, retain and motivate their employees and nonemployee directors by providing for or increasing the proprietary interests of such persons in the Company. 

Section 2. PERSONS ELIGIBLE UNDER PLAN 
 Any person
who is a current or prospective employee or a nonemployee director of the Company or any of its subsidiaries (a “Participant”) shall be eligible to be considered for the grant of Awards (as hereinafter defined) hereunder. 

Section 3. AWARDS 
  

	(a)	 The Board of Directors and/or the Committee (as hereinafter defined), on behalf of the Company, is authorized
under this Plan to enter into any type of arrangement with a Participant that is not inconsistent with the provisions of this Plan and that, by its terms, involves or might involve the issuance of (i) shares of common stock, par value $.01 per
share, of the Company (“Common Shares”) or (ii) a Derivative Security (as such term is defined in Rule 16a-1 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), as such Rule may be amended from time to time) with an exercise or conversion privilege at a price related to the Common Shares or with a value derived from the value of the Common Shares. The entering into of any such arrangement is
referred to herein as the “grant” of an “Award.” 

  

	(b)	 Awards are not restricted to any specified form or structure and may include, without limitation, sales or
bonuses of stock, restricted stock, restricted stock units, stock options, stock purchase warrants, other rights to acquire stock, securities convertible into or redeemable for stock, stock appreciation rights, phantom stock, dividend equivalents,
performance units or performance shares, and an Award may consist of one such security or benefit, or two or more of them in tandem or in the alternative; provided that, Participants shall have no voting rights with respect to any Common Shares
subject to such Awards until the Participant has become the holder of record of the Common Shares; provided, further, that dividends or dividend equivalents credited/payable in connection with an Award (to the extent such dividends or dividend
equivalents may become credited/payable for the Award) that are not yet vested shall be subject to the same restrictions and risk of forfeiture as the underlying Award and shall not be paid until the underlying Award vests. Dividend equivalent
rights shall not be granted in connection with any Award of stock options or stock appreciation rights. 

  

	(c)	 Common Shares may be issued pursuant to an Award for any lawful consideration as determined by the Board of
Directors and/or the Committee, including, without limitation, services rendered by the recipient of such Award. 

  

	(d)	 Subject to the provisions of this Plan, the Board of Directors and/or the Committee, in its sole and absolute
discretion, shall determine all of the terms and conditions of each Award granted under this Plan, which terms and conditions may include, among other things: 

 

	 	(i)	 a provision permitting the recipient of such Award, including any recipient who is a director or officer of the
Company, to pay the purchase price of the Common Shares or other property issuable pursuant to such Award, or such recipient’s tax withholding obligation with respect to such issuance, in whole or in part, by any one or more of the following:

  

	 	(A)	 the delivery of previously owned shares of capital stock of the Company (including “pyramiding”) or
other property, provided that the Company is not then prohibited from purchasing or acquiring shares of its capital stock or such other property, 

  

	 	(B)	 a reduction in the amount of Common Shares or other property otherwise issuable pursuant to such Award,

  

	 	(C)	 an irrevocable commitment by a broker to pay over such amount from a sale of the shares issuable pursuant to
such Award, or 

  

	 	(D)	 the delivery of a promissory note, the terms and conditions of which shall be determined by the Committee.

	 	(ii)	 a provision conditioning or accelerating the receipt of benefits pursuant to such Award, either automatically
or in the discretion of the Board of Directors and/or the Committee, upon the occurrence of specified events, including, without limitation, a change of control of the Company, an acquisition of a specified percentage of the voting power of the
Company, the dissolution or liquidation of the Company, a sale of substantially all of the property and assets of the Company or an event of the type described in Section 7 hereof; or 

 

	 	(iii)	 a provision required in order for such Award to qualify as an incentive stock option (“Incentive Stock
Option”) under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), provided that the recipient of such Award is eligible under the Code to receive an Incentive Stock Option. 

 

	 	(e)	 Notwithstanding anything herein to the contrary, with respect to stock options and stock appreciation rights
issued under the Plan, the Board of Directors and/or the Committee, in its sole and absolute discretion, shall determine the exercise or base price per Common Share subject to such Awards, which, in no event will be less than the Fair Market Value
(as defined below) of the Common Shares on the date of grant; provided, however, that the exercise or base price per Common Share with respect to a stock option or stock appreciation right that is granted in connection with a merger or other
acquisition as a substitute or replacement award for options and/or stock appreciation rights held by employees or directors of the acquired entity may be less than 100% of the Fair Market Value of the Common Shares on the date such Award is granted
if such exercise or base price is based on an adjustment method or formula set forth in the terms of the awards held by such individuals or in the terms of the agreement providing for such merger or other acquisition. For purposes of the Plan, the
term “Fair Market Value” means, as of any given date, the closing sales price on such date (or, if there are no reported sales on such date, on the last date prior to such date on which there were sales) of the Common Shares on the New
York Stock Exchange Composite Tape. 

  

	 	(f)	 The Board of Directors and/or the Committee, in its sole and absolute discretion, shall determine the term of
each stock option and stock appreciation right awarded under the Plan, which in no case shall exceed a period of ten (10) years from the date of grant. 

  

	 	(g)	 Other than in connection with a change in the Company’s capitalization (as described in Section 7),
at any time when the exercise or base price of a stock option or stock appreciation right is above the Fair Market Value of a Common Share, the Company shall not, without shareholder approval (i) reduce the exercise or base price of such stock
option or stock appreciation right, (ii) exchange such stock option or stock appreciation right for cash, another Award, or a new stock option or stock appreciation right with a lower exercise or base price or (iii) otherwise reprice such
stock option or stock appreciation right. 

  

	 	(h)	 Notwithstanding anything herein to the contrary, the grant, issuance, retention, vesting and/or settlement of
restricted stock, restricted stock unit, performance share, performance unit and other similar Awards will occur when and in such installments and/or pursuant to the achievement of such performance criteria, in each case, as the Board of Directors
and/or the Committee, in its sole and absolute discretion, shall determine provided, that Awards granted under the Plan may not become exercisable, vest or be settled, in whole or in part, prior to the
one-year anniversary of the date of grant, except that the Board of Directors and/or the Committee may provide that Awards become exercisable, vest or settle prior to such date in the event of the
Participant’s death or disability or in the event of a change in control. Notwithstanding the foregoing, up to 5% of the aggregate number of Common Shares authorized for issuance under this Plan (as described in Section 4 hereof) may be
issued pursuant to Awards subject to any, or no, vesting conditions, as the Board of Directors and/or the Committee determines appropriate. 

  

	 	(i)	 The Committee may establish performance criteria and level of achievement versus such criteria that shall
determine the number of Common Shares, units, or cash to be granted, retained, vested, issued or issuable under or in settlement of or the amount payable pursuant to an Award, which criteria may include any one or more of the following performance
criteria, either individually, alternatively or in any combination, applied to either the Corporation as a whole or to a business unit or subsidiary, either individually, alternatively or in any combination, and measured either annually or
cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, either based upon United States Generally
Accepted Accounting Principles (“GAAP”) or non-GAAP financial results, in each case as specified by the Committee: earnings per share (diluted and/or basic), revenue, net profit after tax, gross
profit, operating profit, earnings before interest, taxes, depreciation and amortization (“EBITDA”), earnings before interest and taxes (“EBIT”), cash flow (before or after dividends), free cash flow (or free cash flow per
share), asset quality, stock price performance, unit volume, return on equity, change in working capital, change in indebtedness or financial leverage, return on capital or shareholder return, return on total capital, return on invested capital,
return on investment, return on assets or net assets, market capitalization, economic value added, debt leverage (debt to capital), revenue, income or net income, operating income, operating profit or net operating profit, operating margin or profit
margin, return on operating revenue, cash from operations, operating ratio, operating revenue, net service revenue and/or total backlog, days sales outstanding, health and safety or customer service. 

	 	(j)	 The Board of Directors and/or Committee may, in an Award agreement or otherwise, provide for the deferred
delivery of Common Shares or cash upon settlement, vesting or other events with respect to restricted stock units and performance stock units. Notwithstanding anything herein to the contrary, in no event will election to defer the delivery of Common
Shares or any other payment with respect to any Award be allowed if the Board of Directors and/or Committee determines, in its sole discretion, that the deferral would result in the imposition of the additional tax under Section 409A(a)(1)(B)
of the Code. The Company, the Board of Directors and/or the Committee shall have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or compliant with, Section 409A of the Code is not so exempt or
compliant or for any action taken by the Board of Directors and/or the Committee. 

 Section 4. STOCK SUBJECT TO PLAN

  

	(a)	 The aggregate number of Common Shares issued and issuable pursuant to all Awards granted under this Plan shall
be, subject to adjustment as provided in Section 7 hereof, 809,030, plus (i) any shares of Common Stock that remained available for grant under the Ducommun Incorporated 2013 Stock Incentive Plan (the “Prior Plan”), as of
May 6, 2020 and (ii) any shares of Common Stock subject to outstanding awards under the Prior Plan as of May 6, 2020 that on or after May 6, 2020 are forfeited, terminated, expire or otherwise lapse without being exercised (to
the extent applicable), or are settled in cash. 

  

	(b)	 For purposes of Section 4(a) hereof, the aggregate number of Common Shares issued under this Plan at any
time shall equal only the number of Common Shares actually issued upon exercise or settlement of an Award. Notwithstanding the foregoing, Common Shares subject to an Award under the Plan may not again be made available for issuance under the Plan if
such Common Shares are: (i) Common Shares that were subject to a stock-settled stock appreciation right and were not issued upon the net settlement or net exercise of such stock appreciation right, (ii) Common Shares used to pay the
exercise or purchase price of a stock option or other Award, (iii) Common Shares delivered to or withheld by the Company to pay the withholding taxes related a stock option or stock appreciation right or the vesting or settlement of other
Awards, or (iv) Common Shares repurchased on the open market with the proceeds of a stock option exercise. Common Shares subject to Awards that have been canceled, expired, forfeited or otherwise not issued under an Award and Common Shares
subject to Awards settled in cash shall not count as Common Shares issued under this Plan. 

  

	(c)	 The aggregate number of shares of Common Shares that may be issued pursuant to the exercise of Incentive Stock
Options granted under this Plan shall not exceed the number set forth in Section 4(a), which number shall be calculated and adjusted pursuant to Section 7 only to the extent that such calculation or adjustment will not affect the status of
any option intended to qualify as an Incentive Stock Option under Section 422 of the Code. The aggregate number of Common Shares subject to Awards granted under this Plan during any calendar year to any one Participant shall not exceed 250,000
(the “Annual Share Limit”). In addition, if, in any calendar year, all or a portion of the Annual Share Limit is not awarded to a Participant, the unused portion of the Annual Share Limit for such Participant shall also be available for
grant to that Participant in subsequent years. 

  

	(d)	 The aggregate dollar value of equity-based Awards (based on the grant date fair value of such Awards) and cash
compensation granted under this Plan or otherwise during any calendar year to any one non-employee director shall not exceed $250,000; provided, however, that in the calendar year in which a non-employee director first joins the Board of Directors or is first designated as Chairman of the Board of Directors or Lead Directors, the maximum aggregate dollar value of equity-based and cash compensation
granted to the Participant may be up to two hundred percent (200%) of the foregoing limit and the foregoing limit shall not count any tandem stock appreciation rights. 

 

	(e)	 Awards may be granted and Common Shares may be issued by the Company in assumption of, or in substitution or
exchange for, awards previously granted, or the right or obligation to make future awards, by a company acquired by the Company or any subsidiary or with which the Company or any subsidiary combines (“Substitute Awards”). Such Awards shall
not reduce the Common Shares authorized for issuance under this Plan or authorized for grant to a Participant in any calendar year. Additionally, in the event that a company acquired by the Company or any subsidiary, or with which the Company or any
subsidiary combines, has shares available under a pre-existing plan approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the
terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the
consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under this Plan and shall not reduce the Common Shares authorized for issuance under this Plan; provided that
Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made
to individuals who were employees or directors of such acquired or combined company before such acquisition or combination. 

 Section 5. DURATION OF PLAN 

Awards shall not be granted under this Plan after April 20, 2032. Although Common Shares may be issued after April 20, 2032 pursuant to Awards
granted prior to such date, no Common Shares shall be issued under this Plan after April 20, 2042. 
 Section 6. ADMINISTRATION OF PLAN

  

	(a)	 This Plan shall be administered by the Compensation Committee of the Board of Directors of the Company (the
“Committee”), or, in the absence of a Committee, the Board of Directors itself. Any power of the Committee may also be exercised by the Board of Directors, except to the extent that the grant or exercise of such authority would cause any
Award or transaction to become subject to (or lose an exemption under) the short-swing profit recovery provisions of Section 16 of the Securities Exchange Act of 1934 or cause an Award otherwise intended to qualify as performance-based
compensation under Section 162(m) of the Code not to qualify for such treatment. To the extent that any permitted action taken by the Board of Directors conflicts with action taken by the Committee, the Board of Directors action shall control.
The Committee may by resolution or written policy authorize one or more officers of the Company to perform any or all things that the Committee is authorized and empowered to do or perform under the Plan, and for all purposes under this Plan, such
officer or officers shall be treated as the Committee; provided, however, that the resolution or policy so authorizing such officer or officers shall specify that the total number of Awards (if any) such officer or officers may award pursuant to
such delegated authority shall not exceed the annual allotment of shares approved by the Committee, and any such Award shall be subject to the form of award agreement theretofore approved by the Committee. No such officer shall designate himself or
herself as a recipient of any Awards granted under authority delegated to such officer. In addition, the Committee may delegate any or all aspects of the day-to-day
administration of the Plan to one or more officers or employees of the Company or any subsidiary, and/or to one or more agents. 

  

	(b)	 Subject to the provisions of this Plan, the Board of Directors and/or the Committee shall be authorized and
empowered to do all things necessary or desirable in connection with the administration of this Plan, including, without limitation, the following: 

  

	 	(i)	 adopt, amend and rescind rules and regulations relating to this Plan; 

 

	 	(ii)	 determine which persons are Participants and to which of such Participants if any, Awards shall be granted
hereunder; 

  

	 	(iii)	 to establish and verify the extent of satisfaction of any performance goals or other conditions applicable to
the grant, issuance, exercisability, vesting and/or ability to retain any Award; 

  

	 	(iv)	 to prescribe and amend the terms of the agreements or other documents evidencing Awards made under this Plan
(which need not be identical) and the terms of or form of any document or notice required to be delivered to the Company by Participants under this Plan; 

  

	 	(v)	 grant Awards to Participants and determine the terms and conditions thereof, including the number of Common
Shares issuable pursuant thereto; 

  

	 	(vi)	 determine the extent to which adjustments are required pursuant to Section 7 hereof;

  

	 	(vii)	 interpret and construe this Plan and the terms and conditions of all Awards granted hereunder;

  

	 	(viii)	 to make all other determinations deemed necessary or advisable for the administration of this Plan; and

  

	 	(ix)	 to interpret and construe this Plan and the terms and conditions of all Awards granted hereunder and to make
exceptions to any such provisions if the Board of Directors and/or the Committee, in good faith, determine that it is necessary to do so in light of extraordinary circumstances and for the benefit of the Company and so as to avoid unanticipated
consequences or address unanticipated events (including any temporary closure of an applicable stock exchange, disruption of communications or natural catastrophe. 

 

	(c)	 All decisions, determinations and interpretations by the Board of Directors and/or the Committee regarding the
Plan, any rules and regulations under the Plan and the terms and conditions of or operation of any Award granted hereunder, shall be final and binding on all Participants, beneficiaries, heirs, assigns or other persons holding or claiming rights
under the Plan or any Award. The Board of Directors and/or the Committee shall consider such factors as it deems relevant, in its sole and absolute discretion, to making such decisions, determinations and interpretations including, without
limitation, the recommendations or advice of any officer or other employee of the Company and such attorneys, consultants and accountants as it may select. 

 Section 7. ADJUSTMENTS 

If the outstanding securities of the class then subject to this Plan are increased, decreased or exchanged for or converted into cash, property or a different
number or kind of securities, or if cash, property or securities are distributed in respect of such outstanding securities, in either case as a result of a reorganization, merger, consolidation, recapitalization, restructuring, reclassification,
dividend (other than a regular, quarterly cash dividend) or other distribution, stock split, reverse stock split or the like, or if substantially all of the property and assets of the Company are sold, then, unless the terms of such transaction
shall provide otherwise, the Board of Directors and/or the Committee shall make appropriate and proportionate adjustments in (a) the number and type of, and exercise price for, shares or other securities or cash or other property that may be
acquired pursuant to Incentive Stock Options and other Awards theretofore granted under this Plan, (b) the maximum number and type of shares or other securities that may be issued pursuant to Incentive Stock Options and other Awards thereafter
granted under this Plan, and (c) the number and type of shares or other securities subject to the individual limits set forth in Section 4 of this Plan. In no event shall any action be taken pursuant to this Section 7 that would
change the payment or settlement date of an Award in a manner that would result in the imposition of any additional taxes or penalties pursuant to Section 409A of the Code. No right to purchase fractional shares shall result from any adjustment
in Awards pursuant to this Section 7. In case of any such adjustment, the Common Shares subject to the Award shall be rounded down to the nearest whole share. The Company shall notify Participants holding Awards subject to any adjustments
pursuant to this Section 7 of such adjustment, but (whether or not notice is given) such adjustment shall be effective and binding for all purposes of the Plan. 

Section 8. AMENDMENT AND TERMINATION OF PLAN 
 The
Board of Directors may amend or terminate this Plan at any time and in any manner, provided, however, that no such amendment or termination shall deprive the recipient of any Award theretofore granted under this Plan, without the consent of such
recipient, of any of his or her rights thereunder or with respect thereto. In addition, the Committee may correct any defect, supply any omission, or reconcile any inconsistency in any award agreement in the manner and to the extent it shall deem
desirable to effectuate the purposes of the Plan and the related Award. Notwithstanding the foregoing, no such amendment shall, without the approval of the shareholders of the Company: 

 

	 	(a)	 increase the maximum number of Common Shares for which Awards may be granted under this Plan;

  

	 	(b)	 reduce the price at which options may be granted below the price provided for in Section 3(e);

  

	 	(c)	 reprice outstanding options or stock appreciation rights; 

 

	 	(d)	 extend the term of this Plan; 

 

	 	(e)	 change the class of persons eligible to be Participants; 

 

	 	(f)	 increase the individual maximum limits in Section 4(c); or 

 

	 	(g)	 otherwise amend the Plan in any manner requiring shareholder approval by law or the rules of any stock exchange
or market or quotation system on which the Common Shares are traded, listed or quoted. 

 Section 9. EFFECTIVE DATE OF PLAN

 This Plan shall be effective as of April 20, 2022 provided, however, that no Common Shares may be issued under this Plan until it has been
approved, directly or indirectly, by the affirmative votes of the holders of a majority of the securities of the Company present, or represented, and entitled to vote at a meeting duly held in accordance with the laws of the State of Delaware. 

 Section 10. LEGAL REQUIREMENTS 

 

	(a)	 No Common Shares issuable pursuant to an Award shall be issued or delivered unless and until, in the opinion of
counsel for the Company, all applicable requirements of federal, state and other securities laws, and the regulations promulgated thereunder, and any applicable listing requirements of any stock exchange on which shares of the same class are then
listed, shall have been fully complied with. The Company shall not be required to register in a Participant’s name or deliver any Common Shares prior to the completion of any registration or qualification of such shares under any foreign,
federal, state or local law or any ruling or regulation of any government body which the Committee shall determine to be necessary or advisable. To the extent the Company is unable to or the Committee deems it infeasible to obtain authority from any
regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Common Shares hereunder, the Company and its subsidiaries shall be relieved of any liability with
respect to the failure to issue or sell such Common Shares as to which such requisite authority shall not have been obtained. No Award shall be exercisable and no Common Shares shall be issued and/or transferable under any other Award unless a
registration statement with respect to the Common Shares underlying such Award is effective and current or the Company has determined that such registration is unnecessary. 

 

	(b)	 It is the Company’s intent that the Plan shall comply in all respects with Rule 16b-3 promulgated under the Exchange Act, as such Rule may be amended from time to time. If any provision of the Plan is found not to be in compliance with Rule 16b-3 of the
Exchange Act, such provision shall be null and void. 

  

	(c)	 The Committee may provide that the Common Shares issued upon exercise of an Award or otherwise subject to or
issued under an Award shall be subject to such further agreements, restrictions, conditions or limitations as the Committee in its discretion may specify prior to the exercise of such Award or the grant, vesting or settlement of such Award,
including without limitation, conditions on vesting or transferability, forfeiture or repurchase provisions and method of payment for the Common Shares issued upon exercise, vesting or settlement of such Award (including the actual or constructive
surrender of Common Shares already owned by the Participant) or payment of taxes arising in connection with an Award. Without limiting the foregoing, such restrictions may address the timing and manner of any resales by the Participant or other
subsequent transfers by the Participant of any Common Shares issued under an Award, including without limitation (i) restrictions under an insider trading policy or pursuant to applicable law, (ii) restrictions designed to delay and/or
coordinate the timing and manner of sales by Participant and holders of other Company equity compensation arrangements, (iii) restrictions as to the use of a specified brokerage firm for such resales or other transfers and (iv) provisions
requiring Shares to be sold on the open market or to the Company in order to satisfy tax withholding or other obligations. 

Section 11. MISCELLANEOUS 
  

	(a)	 Neither the adoption of this Plan by the Board nor the submission of this Plan to the shareholders of the
Company for approval shall be construed as creating any limitations on the power of the Board or the Committee to adopt such other incentive arrangements as either may deem desirable, including without limitation, the granting of retention shares or
stock options otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases. 

  

	(b)	 This Plan and any agreements or other documents hereunder shall be interpreted and construed in accordance with
the laws of the State of Delaware and applicable federal law. Any reference in this Plan or in the agreement or other document evidencing any Awards to a provision of law or to a rule or regulation shall be deemed to include any successor law, rule
or regulation of similar effect or applicability. 

  

	(c)	 Nothing in this Plan or an Award agreement shall interfere with or limit in any way the right of the Company,
its subsidiaries and/or its affiliates to terminate any Participant’s employment, service on the Board or service for the Company at any time or for any reason not prohibited by law, nor shall this Plan or an Award itself confer upon any
Participant any right to continue his or her employment or service for any specified period of time. Neither an Award nor any benefits arising under this Plan shall constitute an employment contract with the Company, any subsidiary and/or its
affiliates. Subject to Sections 5, 8 and 9, this Plan and the benefits hereunder may be terminated at any time in the sole and exclusive discretion of the Board without giving rise to any liability on the part of the Company, its subsidiaries and/or
its affiliates. 

  

	(d)	 Except as otherwise provided by the Committee in the Award agreement, Awards may be forfeited if the
Participant terminates his or her employment with the Company, a subsidiary or an affiliate for any reason. 

	(e)	 To the extent any payment under this Plan is considered deferred compensation subject to the restrictions
contained in Section 409A of the Code, such payment may not be made to a specified employee (as determined in accordance with a uniform policy adopted by the Company with respect to all arrangements subject to Section 409A of the Code)
upon “separation from service” (within the meaning of Section 409A of the Code) before the date that is three months after the specified employee’s separation from service (or, if earlier, the specified employee’s death).
Any payment that would otherwise be made during this period of delay shall be accumulated and paid on the sixth month plus one day following the specified employee’s separation from service (or, if earlier, as soon as administratively
practicable after the specified employee’s death). 

  

	(f)	 The Plan is intended to be an unfunded plan. Participants are and shall at all times be general creditors of
the Company with respect to their Awards. If the Committee or the Company chooses to set aside funds in a trust or otherwise for the payment of Awards under the Plan, such funds shall at all times be subject to the claims of the creditors of the
Company in the event of its bankruptcy or insolvency. 

  

	(g)	 All obligations of the Company under the Plan with respect to Awards granted hereunder shall be binding on any
successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 

 

	(h)	 Subject to the terms and conditions of the Plan, the Committee may provide that any Participant and/or any
Award, including any Common Shares subject to an award, will be subject to any recovery, recoupment, clawback and/ or other forfeiture policy maintained by the Company from time to time. 

 

	(i)	 To the extent required by applicable federal, state, local or foreign law, a Participant shall be required to
satisfy, in a manner satisfactory to the Company, any withholding tax obligations that arise by reason of a stock option exercise, disposition of Common Shares issued under an Incentive Stock Option, the vesting of or settlement of an Award, an
election pursuant to Section 83(b) of the Code or otherwise with respect to an Award. To the extent a Participant makes an election under Section 83(b) of the Code, within ten days of filing such election with the Internal Revenue Service,
the Participant must notify the Company in writing of such election. The Company and its subsidiaries shall not be required to issue Common Shares, make any payment or to recognize the transfer or disposition of Common Shares until all such
obligations are satisfied. 

  

	(j)	 Each Award may not be sold, transferred for value, pledged, assigned, or otherwise alienated or hypothecated by
a Participant other than by will or the laws of descent and distribution, and each stock option or stock appreciation right shall be exercisable only by the Participant during his or her lifetime. Notwithstanding the foregoing, outstanding stock
options may be exercised following the Participant’s death by the Participant’s beneficiaries or as permitted by the Board of Directors and/or Committee. Further, and notwithstanding the foregoing, to the extent permitted by the Board of
Directors and/or Committee, the person to whom an Award is initially granted (“Grantee”) may transfer an Award to any “family member” of the Grantee (as such term is defined in Section A.1(a)(5) of the General Instructions to
Form S-8 under the Securities Act of 1933, as amended (“Form S-8”)), to trusts solely for the benefit of such family members and to partnerships in which such
family members and/or trusts are the only partners; provided that, (i) as a condition thereof, the transferor and the transferee must execute a written agreement containing such terms as specified by the Board of Directors and/or Committee, and
(ii) the transfer is pursuant to a gift or a domestic relations order to the extent permitted under the General Instructions to Form S-8. Except to the extent specified otherwise in the agreement the
Board of Directors and/or Committee provides for the Grantee and transferee to execute, all vesting, exercisability and forfeiture provisions that are conditioned on the Grantee’s continued employment or service shall continue to be determined
with reference to the Grantee’s employment or service (and not to the status of the transferee) after any transfer of an Award pursuant to this Section 11(j), and the responsibility to pay any taxes in connection with an Award shall remain
with the Grantee notwithstanding any transfer other than by will or intestate succession. 

  

	(k)	 Awards granted under the Plan and/or communications regarding the Plan and any Award under the Plan may be made
by sent via electronic delivery through an online or electronic system established and maintained by the Corporation or a third party designated by the Corporation. 

 

	(l)	 The Board of Directors shall have the authority, subject to the express limitations of the Plan, to create sub-plans hereunder necessary to comply with laws and regulations of any foreign country in which the Company may seek to grant an Award to a person eligible under Section 2.Exhibit
10.1

 

CONSULTING
AGREEMENT

between

Epizon
Limited and Gerard Dab, CEO of VisualMED Clinical Solutions, Corp.

 

THIS
AGREEMENT is entered into and is effective as of the May 2nd 2021, by and between Epizon Limited, a Bahamas based Company with an address
at Suite 104A, Saffrey Square, Bank Lane, PO Box N-9306, (the “Company”), and, Gerard Dab, CEO of VisualMED Clinical Solutions,
Corp., a Pink Sheet listed public company organized under the laws of the State of Nevada, with main offices located at, 50 West Liberty
Street, Suite 880, Reno, Nevada 89501 (the “Client”).

 

WITNESSETH

 

WHEREAS,
the Company provides consulting services to businesses in connection with their capital structure, business plan and business opportunities,
management, complimentary acquisitions and seeking and securing of investors, financing or buyers; and

 

WHEREAS,
the Client is the CEO of VisualMED Clinical Solutions, Corp., a public company that is searching for a new business opportunity. The
Client personally owns or has shareholder and Board of Director approvals to own 1,000 Preference A shares in VisualMed in exchange for
a reduction of debt owed to Client personally from VisualMed. These Preference A shares have certain rights and benefits, including being
equal to 51% voting control of VisualMed at all times, regardless of the number or class of other shares issued. Shareholder consent
and Board approval have been received to confirm these rights and benefits and all actions required to confirm and file the required
documents with the State to confirm the designation and issuance of these Preference A shares will be taken by Client and VisualMed.

 

WHEREAS,
the Client and the Company wish to enter into a relationship pursuant to the terms and conditions of this Agreement whereby the Company
will assist the Client to create and deliver a business that creates value for VisualMed’s Shareholders.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

 

	1.	Engagement.
    Effective on the date hereof, the Client engages the Company to assist him in delivering his business objectives, which includes
    providing assistance with the capital structure of VisualMed, providing management (including officers or directors if required)
    as may be required on a permanent or temporary basis by VisualMed, assisting with finding and completing acquisitions that may be
    synergistic with the growth plans of VisualMed, the finding and securing of one or more sources of finance that may be required by
    VisualMed and assisting the Client to consider and structure any finance that may be offered.

 

    	1

     

    

 

	2.	Term
    of Engagement. Subject to the provisions of this Agreement, the term of Consulting under this Agreement (“Period of Consulting”)
    shall be one (1) years and shall commence on May 2nd 2021 (the “Initial Term”). This agreement will automatically
    terminate after one year except that the parties may elect to renew this Agreement if the business objectives and purpose of the
    agreement have not been achieved. Upon expiration of this Agreement Client will provide the Company all unpaid compensation and benefits
    to which the Company is entitled through the date of expiration and thereafter Company’s obligation hereunder shall cease.
	 	 
	3.	Objective. Client
    wishes to find and complete a business transaction for VisualMed that creates opportunity for VisualMed and its shareholders and
    wants to adopt a strategy that will see VisualMed become a fully reporting public Company that will have the opportunity to secure
    capital to create and execute a new business plan. Client has no objection to any business opportunity and no objection to a business
    strategy that will mean VisualMed being renamed and rebranded as part of a new business strategy.
	 	 
	4.	Compensation.
    In consideration of the Company’s provision of the Services, the Client shall pay or cause to be paid to the Company, the following
    fees (collectively, the “Fee”):

 

Subject
only to the condition below Client agrees to deliver the 1,000 Pref A shares that he personally holds in VisualMed, to Epizon Limited
in certificate form with Epizon Limited clearly identified as the owner on the certificate, accompanied by a copy of the designation
filed with the State of Nevada for the Preference A shares. The Client warranties as part of this agreement that the 1,000 Preference
A shares are free of any encumbrance or lien of any kind will be properly issued and recorded in the books and records of VisualMed,
Clinical Solutions, Inc. at the time of delivery to Company.

 

Conditions
to be met for Compensation as described above to be earned in full:

 

	 	a)	VisualMed will
    have completed a transaction in the form of merger or acquisition which will create a new business strategy and opportunity for VisualMed.
	 	 	 
	 	b)	Transaction as described
    and publicly disclosed will have closed successfully and not be in dispute or have any effort to unwind initiated within 90 days
    of closing.
	 	 	 
	 	 	Compensation as defined
    will be delivered by Client to Epizon Limited within 30 days of the three month anniversary of any transaction (for the avoidance
    of doubt, no later than 120 days from completion of a transaction) as described in this agreement being publicly disclosed in a press
    release or SEC filing. This agreement will be adequate evidence that Epizon Limited is entitled to receive the Preference A shares
    as described and in the event of non-delivery by Client, will entitle Epizon Limited to require VisualMed Clinical Solutions, Corp.
    to recognize it as the owner of the Preference A shares and take whatever steps are necessary to reflect that ownership in its books
    and records.

 

    	2

     

    

 

	 	c)	The transaction
    as defined and agreed will create a change of control in VisualMed. The Client will be responsible for taking any actions that a
    change of control creates for Client or VisualMed and confirms as part of this agreement that a change of control does not trigger
    any adverse event or create any liability for VisualMed or any of the parties to this agreement.

 

	5.	Consultant.
    The Client agrees that the Company will be acting as his consultant in providing the Services, and that, to this end, any and all
    forms of correspondence or communication, as well as dialogue, (altogether referred to as the “Discussions”) will pass
    via the Client. The Company shall obtain the Clients’ prior consent before engaging in such Discussions and Company has no
    authority or right to bind the Client to any agreement without prior approval.
	 	 
	6.	Independent Contractor.
    The Company is acting as an independent contractor hereunder with duties owing solely to the Client. Nothing contained herein, expressed
    or implied, shall create or be construed to impose upon the Company or any of its affiliates, or their respective officers, directors,
    employees or stockholders, any fiduciary or agency relationship or obligation.
	 	 
	7.	Limitation of Liability.
    The Client agrees that the Company shall have no liability to the Client or any of his affiliates or any third party, including,
    without limitation, any officer, director, employee or stockholder of any of his affiliates, for any decision or recommendation made
    or omitted to be made or any action or failure to act in connection with the Services or this Agreement; provided that the foregoing
    limitation on liability shall not apply to any decision or recommendation made or omitted to be made by the Company or any action
    or failure to act by the Company in connection with this Agreement that is finally held by a court of competent jurisdiction to have
    resulted primarily from the gross negligence or willful misconduct of the Company; provided further that notwithstanding anything
    to the contrary contained herein, in no event will the Company have any liability to the Client or any of his affiliates or any third
    party for any consequential, special, punitive or incidental damages.
	 	 
	8.	Information Provided
    to the Company. The Client will furnish the Company with such information as the Client believes is necessary to the provision
    of the Services (all information so furnished being herein referred to as the “Information”). The Client recognizes and
    confirms that the Company (i) will use and rely primarily on the Information and the information available from generally recognized
    public sources in performing the Services, without having independently verified the same, (ii) does not assume responsibility for
    the accuracy or completeness of the Information, and (iii) will not make an evaluation or appraisal of any assets of the Client.
    The Company agrees to treat all material, non-public Information in a confidential manner

 

    	3

     

    

 

	9.	Confidentiality;
    Non-Disclosure.

 

	 	a)	Confidential
    Information. “Confidential Information” means any information provided by the Client, in any form, however and whenever
    acquired, that is not generally known to business competitors or the general public, and shall include without limitation: (i) confidential,
    secret, and/or proprietary knowledge, data, or information; (ii) any “trade secret,” as that term is defined by the Florida
    Uniform Trade Secrets Act (“FUTSA”), § 688.000, et seq., or as defined by any other state or federal law governing
    trade secrets, including the Uniform Trade Secrets Act; (iii) inventions, ideas, products, processes, formulas, patterns, compilations,
    devices, methods, techniques, processes, data, research, programs, know-how, improvements, discoveries, computer programs, source
    codes, and database structure; (iv) business methods, operations, plans, projects, finances, prices and costs, sales and shipping
    information/techniques, market studies, competitive analyses, accounts receivable or payable, billing methods, pricing policies,
    and other non-public financial information; (v) information concerning internal affairs, memoranda, policies, legal affairs, and
    security methods; and (vi) customer, client, vendor, and supplier names and addresses, lists, financial information, data, purchasing
    and supply histories
	 	 	 
	 	b)	Company Obligations.
    During the course of this agreement with the Client, Company will be given and receive access to Confidential Information. At all
    times during and subsequent to this agreement, Company will not, directly or indirectly, disclose, discuss, publish, disseminate,
    or otherwise use or suffer to be used in any manner, any Confidential Information, except as otherwise allowed by this Agreement.
    Company will use Confidential Information only for the contemplated purposes for the sole benefit of the Client and will disclose
    Confidential Information only as required in the course and scope of the Company’s job duties. Immediately upon the termination
    of this agreement for any reason or at any time when requested by the Client, Company will return all Confidential Information to
    the Client. Company further acknowledges and agrees that a breach of any of the provisions of paragraph 9 will leave the Client
    without an adequate remedy at law and therefore agrees that the remedy provided for herein is equitable and just, namely: (1) the
    Client shall be entitled to an immediate injunction to prohibit the further breach of any of these provisions, (2) the Client shall
    be entitled to prosecute to the extent allowed by law, and (3) the Client shall be entitled to recover fees associated with the cost
    of prosecution and damages.

 

    	4

     

    

 

	 	c)	Ownership
    of Client Property and Assignment of Intellectual Property. All Confidential Information is, and shall remain the Client’s
    property and Company will not remove any Confidential Information from Client premises.

 

	10.	Indemnification.
    The Client agrees to indemnify and hold harmless the Company and its affiliates, and each of their respective officers, directors,
    employees or stockholders (the Company and each such person being referred to herein as the “Indemnified Party”), from
    and against any and all losses, claims, damages, fines, liabilities, judgments, or amounts paid in settlement (or actions, proceedings
    or investigations in respect thereof), to which such Indemnified Party may become subject under any applicable federal or state law,
    or otherwise, related to or arising out of any Financing or Acquisition or the Services hereunder. The Client agrees to reimburse
    the Company and any Indemnified Party for all expenses (including reasonable attorney’s fees and expenses) as they are incurred
    in connection with the investigation of, preparation for or defense of any such pending or threatened loss, claim, damage, liability
    or any action or proceeding arising therefrom, whether or not such Indemnified Party is a party. The Client will not be liable under
    the foregoing indemnification provision to the extent that any loss, claim, damage, liability, fine, judgment or expense is found
    in a final non-appealable judgment by a court of competent jurisdiction to have resulted primarily from the Company’s gross
    negligence or willful misconduct. This indemnification shall survive termination of the Company’s Services under this Agreement
    and shall be binding upon any successors or assigns of the Client.
	 	 
	11.	Restrictive
    Covenants. Company agrees to the following Restrictive Covenants:

 

	 	a.	Non-Compete.
    During the term of this agreement and for a period of twelve (12) months after the termination of this agreement with the Client
    for any reason whatsoever (“Restricted Period”), Company will not, directly or indirectly (on Company’s own behalf
    or on behalf of any other person or entity) engage in any business or own an interest in any business, including but not limited
    to, a sole proprietorship, partnership, corporation, joint stock company, joint venture, limited liability company, trust or other
    form of business entity, unincorporated organization, whether as an individual proprietor, partner, shareholder, joint venturer,
    member, trustee, officer, director, consultant, broker, employee, or in any manner whatsoever (except for an ownership interest not
    exceeding five percent (5%) of a publicly-traded entity), that is competitive with any business in which the Client has been engaged
    at any time during Company’s agreement
	 	 	 
	 	b.	Non-Solicit
    of Employees. During the Restricted Period, Company will not, directly or indirectly (on Company’s own behalf or on behalf
    of any other person or entity) contact, recruit, solicit or otherwise seek to induce any employee or contractor of Client to terminate
    his/her employment or engagement with the Client. This covenant applies to any employee or contractor who, at the time of such attempted
    recruitment/hire by Company is currently employed or engaged with the Client or was previously employed or engaged with the Client
    within the eighteen (18) month period immediately preceding the termination of Company’s agreement.

 

    	5

     

    

 

	 	c.	Non-Solicit
    of Customers/Business Relationships. During the Restricted Period, other than for the benefit of the Client, solicit, contact,
    or do business with (if offered to Company, with or without solicitation) any customer of the Client regarding any business engaged
    in by the Client; and/or divert or attempt to divert from the Client or otherwise interfere with any business relationship between
    the Client and any existing or prospective client or other source of business, investor, customer, client, vendor or other person
    or entity with which the Client maintains or has maintained a business relationship. For purposes of this Agreement, “customer”
    shall include any specific prospective or existing person or entity with whom the Client has engaged in business at any time during
    Company’s agreement or within the three (3) year period preceding Company’s agreement.
	 	 	 
	 	d.	Reasonableness
    of Restrictive Covenants. Company has carefully read and considered the promises made in this Agreement. Company agrees that
    the promises made in this Agreement are reasonable and necessary for protection of the Client’s legitimate business interests,
    including but not limited, to its trade secrets; Confidential Information; existing and specific prospective customer relationships;
    productive and competent workforce; and undisrupted workplace. Company further agrees that prior to signing this Agreement, it has
    been provided a reasonable time to review the Agreement and an opportunity to consult separate counsel concerning the terms of this
    Agreement.
	 	 	 
	 	e.	Savings
    Clause; Full Effect. If it is determined by a court of competent jurisdiction that any restriction in this Section 11 is excessive
    in duration or scope or is unreasonable or unenforceable, it is the intention of the Parties that such restriction may be modified
    or amended by the court to render it enforceable to the maximum extent permitted by law. Additionally, the Client shall be entitled
    to the full benefit of the promises stated in this Agreement. Accordingly, if Company violates any or all of the covenants, this
    Agreement shall remain in full force and effect beyond the expiration of the term of the promise, such that the Client receives the
    full benefit of his bargain. Company’s obligations under this Agreement shall survive the termination of Company’s agreement
    with the Client.
	 	 	 
	 	f.	Independent
    Obligations. The restrictive covenants contained in this Agreement are independent of any other obligations owed by the Client
    to Company. The existence of any claim or cause of action by Company against the Client, whether based on this Agreement or otherwise
    created, shall not create a defense to the enforcement by the Client of any restrictive covenants contained herein.
	 	 	 
	 	g.	Injunction.
    Company acknowledges that a breach of the restrictive covenants contained in this Agreement will cause irreparable damage to the
    Client. Accordingly, in the event of a breach or threatened breach of the restrictive covenants contained in this Agreement, the
    Client shall be entitled to preliminary and permanent injunctive relief against Company and all persons or entities acting in concert
    with Company, to restrain the violation.

 

    	6

     

    

 

	12.	Company
    Representation. The Company represents and warrants to the Client that there is no legal impediment to it entering into, or performing
    its obligations under, this Agreement, and that entering into this Agreement will not violate any agreement to which Company is a
    party or any other legal restriction. The Company further represents and warrants that it will not use or disclose any confidential
    information of any prior employer or other person or entity during the term of this agreement with the Client.
	 	 
	13.	Amendment. This
    Agreement may only be amended by a written agreement signed by both parties.
	 	 
	14.	Assignment. Client
    consents and agrees that the Company may assign their rights within this agreement herein with advance written consent.
	 	 
	15.	Governing Law. This
    Agreement shall be governed by the internal laws of the Bahamas without regard to its law of conflicts. The Company waives any objection
    to venue or jurisdiction and any objection based on a more convenient forum in any action under this Agreement.
	 	 
	16.	Notices. All notices,
    consents, waivers, and other communications under this Agreement must be in writing and will be deemed to have been duly given when

 

	 	(a)	acknowledged
    as received by the other party as a scanned and email document
	 	(b)	or by any other means of
    delivery service for which the sender received a receipt of delivery

 

	 	The
    Client:	 	Gerard
    Dab,
	 	 	 	VisualMED Clinical Solutions, Corp.
	 	 	 	50
    West Liberty Street,
	 	 	 	Suite
    880, Reno,
	 	 	 	Nevada
    89501
	 	 	 	Attention:
    Gerard Dab
	 	 	 	Email
    cliniscience@gmail.com
	 	 	 	 
	 	The
    Company:	 	Epizon
    Limited
	 	 	 	Suite
    104A,
	 	 	 	Saffrey
    Square,
	 	 	 	Bank
    Lane,
	 	 	 	PO
    Box N-9306
	 	 	 	Attention:
    Seamus Lagan
	 	 	 	Email
    s.lagan@btinternet.com

 

	17.	Entire Agreement.
    This Agreement supersedes all prior agreements between the parties with respect to its subject matter and constitutes a complete
    and exclusive statement of the terms of the agreement between the parties with respect to its subject or its subject matter.

 

    	7

     

    

 

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

 

	THE
    CLIENT:	 
	 	 
	 /s/
    Gerard Dab 	 
	Gerard Dab	 
	 	 
	THE
    COMPANY:	 
	Epizon
    Limited	 
	 	 
	 /s/
    Seamus Lagan 	 
	By:
Seamus Lagan	 

 

    	8

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