Administration. The Plan shall be administered by the Board or a committee of members of the Board appointed by the Board.
The Board or its committee shall have full and exclusive discretionary authority to construe, interpret and apply the terms of
the Plan, to determine eligibility and to adjudicate all disputed claims filed under the Plan. Every finding, decision and determination
made by the Board or its committee shall, to the full extent permitted by law, be final and binding upon all parties.
Designation of Beneficiary.
A Participant may file a written designation of a beneficiary who is to receive any shares and cash, if any, from the Participant’s
account under the Plan in the event of such participant’s death subsequent to an Exercise Date on which the option is exercised
but prior to delivery to such Participant of such shares and cash. In addition, a Participant may file a written designation of
a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of such Participant’s
death prior to exercise of the option. If a Participant is married and the designated beneficiary is not the spouse, spousal consent
shall be required for such designation to be effective.
Such designation of beneficiary may be changed by the Participant at any time by written notice. In the event of the death of
a participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s
death, the Company shall issue such shares and/or cash to the executor or administrator of the estate of the Participant, or if
no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may issue
such shares and/or cash to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent
or relative is known to the Company, then to such other person as the Company may designate.
Transferability. Neither payroll deductions credited to a Participant’s account nor any option or rights with regard
to the exercise of an option may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the
laws of descent and distribution or as provided in Section 15) by the Participant. Any such attempt at assignment, transfer, pledge
or other disposition shall be without effect, except that the Company may treat such act as an election to withdraw funds from
an Offering Period in accordance with Section 10.
Use of Funds. All payroll deductions received or held by the Company under the Plan may be used by the Company for any
corporate purpose, and the Company shall not be obligated to segregate such payroll deductions.
Reports. Individual accounts shall be maintained for each Participant. Statements of account shall be given to Participants
at least annually, which statements shall set forth the amounts of payroll deductions, the Purchase Price, the number of shares
purchased and the remaining cash balance, if any.
Adjustments upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset Sale.
Changes in Capitalization. Subject to any required action by the stockholders of the Company, the Reserves, the maximum
number of shares each Participant may purchase each Offering Period (pursuant to Section 7), as well as the price per share and
the number of shares of Common Stock covered by each option under the Plan which has not yet been exercised shall be proportionately
adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock
split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of
shares of Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible
securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment
shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided
herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class,
shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock
subject to an option.