<SEC-DOCUMENT>0001654954-21-006151.txt : 20210521
<SEC-HEADER>0001654954-21-006151.hdr.sgml : 20210521
<ACCEPTANCE-DATETIME>20210521170658
ACCESSION NUMBER:		0001654954-21-006151
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		19
CONFORMED PERIOD OF REPORT:	20210518
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210521
DATE AS OF CHANGE:		20210521

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Freedom Holding Corp.
		CENTRAL INDEX KEY:			0000924805
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				300233726
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33034
		FILM NUMBER:		21950096

	BUSINESS ADDRESS:	
		STREET 1:		C/O POULTON & YORDAN
		STREET 2:		324 SOUTH 400 WEST SUITE 250
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84101
		BUSINESS PHONE:		801-355-2227

	MAIL ADDRESS:	
		STREET 1:		C/O POULTON & YORDAN
		STREET 2:		324 SOUTH 400 WEST SUITE 250
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BMB MUNAI INC
		DATE OF NAME CHANGE:	20031218

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERUNION FINANCIAL CORP
		DATE OF NAME CHANGE:	19960719
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
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<DESCRIPTION>CURRENT REPORT
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UNITED STATES</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-weight: bold; font-family: Times New Roman; font-size: 16px">
SECURITIES AND EXCHANGE COMMISSION</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Washington, D.C. 20549</span></div>
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<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
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<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
CURRENT REPORT</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934</span></div>
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<span style="font-family: Times New Roman; font-size: 13px">Date of
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<span style="font-family: Times New Roman; font-size: 13px">(State
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<span style="font-family: Times New Roman; font-size: 13px">File
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<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
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<span style="font-family: Times New Roman; font-size: 13px">(Address
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<tr>
<td style="vertical-align: top; width: 100%" colspan="5">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
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<tr>
<td style="vertical-align: top; width: 100%; border-bottom: 2px solid #000000" colspan="5">
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<span style="font-family: Times New Roman; font-size: 13px">&#x2B;<ix:nonNumeric id="idb9c33a5e81c442e3871be09b01ba25cd" contextRef="From-2021-05-18to2021-05-18" name="dei:CityAreaCode">7
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<td style="vertical-align: top; width: 100%" colspan="5">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-family: Times New Roman; font-size: 13px">(Registrant&#x2019;s
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<tr>
<td style="vertical-align: top; width: 100%" colspan="5">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
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<td style="vertical-align: top; width: 100%; border-bottom: 2px solid #000000" colspan="5">
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<span style="font-family: Times New Roman; font-size: 13px">N/A</span></div>
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<tr>
<td style="vertical-align: top; width: 100%" colspan="5">
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<span style="font-family: Times New Roman; font-size: 13px">(Former
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</tbody></table>
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<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (<span style="text-decoration: underline">see</span> General Instruction A.2
below):</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px;">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left"><span style="font-size: 13px; font-family: Times New Roman"><ix:nonNumeric id="id4c66d0ebd058420e89cc0ff2323046f1" contextRef="From-2021-05-18to2021-05-18" name="dei:WrittenCommunications" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric>
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify"><span style="font-size: 13px; font-family: Times New Roman">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left"><span style="font-size: 13px; font-family: Times New Roman"><ix:nonNumeric id="id7b447d0b31a549c99b3cfe3d990087a3" contextRef="From-2021-05-18to2021-05-18" name="dei:SolicitingMaterial" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
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<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify"><span style="font-size: 13px; font-family: Times New Roman">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left"><span style="font-size: 13px; font-family: Times New Roman"><ix:nonNumeric id="id41ffe63eea414504929ce1b1bfea52a6" contextRef="From-2021-05-18to2021-05-18" name="dei:PreCommencementTenderOffer" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric>
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify"><span style="font-size: 13px; font-family: Times New Roman">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left"><span style="font-size: 13px; font-family: Times New Roman"><ix:nonNumeric id="ide29822f9af7d4cf9a91194f03eebcb50" contextRef="From-2021-05-18to2021-05-18" name="dei:PreCommencementIssuerTenderOffer" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric>
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify"><span style="font-size: 13px; font-family: Times New Roman">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">Securities
registered under Section 12(b) of the Act:</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div class="left">
<table style="width: 100%; font-family: Times New Roman; font-size: 13px; margin: 0px auto 0px 0px;" cellspacing="0" cellpadding="0">

<tbody><tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-family: Times New Roman; font-size: 13px">Title
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<td style="vertical-align: top; width: 2%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
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<td style="vertical-align: top; width: 32%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-family: Times New Roman; font-size: 13px">Trading
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<td style="vertical-align: top; width: 2%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
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<td style="vertical-align: top; width: 32%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-family: Times New Roman; font-size: 13px">Name of
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<tr>
<td style="vertical-align: top; width: 32%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
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<td style="vertical-align: top; width: 2%;">
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<td style="vertical-align: top; width: 32%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
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<td style="vertical-align: top; width: 2%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 32%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
The <ix:nonNumeric id="id5fb8e2da39d44923b17c6f3ef8aaf7ce" contextRef="From-2021-05-18to2021-05-18" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen">Nasdaq</ix:nonNumeric>
Capital Market</span></div>
</td>
</tr>

</tbody></table>
</div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (&#xA7;230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (&#xA7;240.12b-2 of this chapter).</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">Emerging
growth company <ix:nonNumeric id="id3f98c11f262b4b4298e2f4e260ab6e61" contextRef="From-2021-05-18to2021-05-18" name="dei:EntityEmergingGrowthCompany" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric></span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">If an
emerging growth company, indicated by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. &#x2610;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px;">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 8px; border-top: 1px solid #000000; border-bottom: 4px solid #000000;text-align: center">
<!--style footer--><br />
<br /></div>

<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">On
May 18, 2021, Freedom Holding Corp. awarded restricted stock grants
totaling 1,018,258 shares of its common stock to 56 employees and
consultants (the &#x201C;grantees&#x201D;) of Freedom Holding Corp.
and its subsidiaries, including two executive officers of Freedom
Holding Corp, Askar Tashtitov and Evgeniy Ler. Freedom Holding
Corp. and its subsidiaries are collectively referred to herein as
the &#x201C;Company.&#x201D;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">On
May 18, 2021, the Company also finalized agreements with Messrs.
Tashtitov and Ler to award each of them restricted stock grants of
6,621 shares of Company common stock as the long term equity
incentive compensation portion of their compensation package for
the Company&#x2019;s 2022 fiscal year (which began on April 1, 2021
and ends on March 31, 2022), as previously reported in a Current
Report on Form 8-K filed by the Company with the Securities and
Exchange Commission (the &#x201C;Commission&#x201D;) on February 19,
2021.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">The
restricted stock grants and the long term equity incentive
compensation awards were made under the Freedom Holding Corp. 2019
Equity Incentive Plan (the &#x201C;Plan&#x201D;) and pursuant to an
effective registration statement on Form S-8 filed by the Company
with the Commission on November 1, 2019.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="text-decoration: underline; color: #000000; font-style: italic; font-family: Times New Roman; font-size: 13px">
Vesting of Restricted Stock Grants</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">The
restricted stock grants made to the 54 non-executive officer
grantees of the Company are scheduled to vest upon satisfaction of
the vesting conditions described in this Current Report on Form 8-K
(the &#x201C;Report&#x201D;), as follows:</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div>
<table style="width: 100%; font-family: Times New Roman; font-size: 13px" cellspacing="0" cellpadding="0">

<tbody><tr>
<td style="vertical-align: top; width: 48%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-size: 11px"><span style="font-family: Times New Roman;"><span style="font-weight: bold; color: #000000">Vesting Date</span><span style="color: #000000">&#xA0;</span></span></span></div>
</td>
<td style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-size: 11px"><span style="font-family: Times New Roman;"><span style="font-weight: bold; color: #000000">Shares of Common
Stock</span><span style="color: #000000">&#xA0;</span></span></span></div>
</td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 48%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
May 18, 2022&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 52%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
20% of the aggregate Restricted Stock&#xA0;&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 48%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
May 18, 2023&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
<td style="vertical-align: top; width: 52%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
20% of the aggregate Restricted Stock&#xA0;&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 48%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
May 18, 2024&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
<td style="vertical-align: top; width: 52%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
20% of the aggregate Restricted Stock&#xA0;&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 48%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
May 18, 2025&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
<td style="vertical-align: top; width: 52%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
20% of the aggregate Restricted Stock&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 48%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
May 18, 2026&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
<td style="vertical-align: top; width: 52%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
20% of the aggregate Restricted Stock&#xA0;</span></div>
</td>
</tr>

</tbody></table>
</div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>

<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">The
restricted stock grants made to Messrs. Tashtitov and Ler are
scheduled to vest upon satisfaction of the vesting conditions
described in this Report, as follows:</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div class="center">
<table style="width: 100%; font-family: Times New Roman; font-size: 13px" cellspacing="0" cellpadding="0">

<tbody><tr>
<td style="vertical-align: top; width: 34%;" colspan="2">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-size: 11px"><span style="font-family: Times New Roman;"><span style="font-weight: bold; color: #000000">&#xA0;</span> <span style="color: #000000">&#xA0;&#xA0;</span></span></span></div>
</td>
<td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center"><span style="font-size: 11px"><span style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Shares of Common Stock</span></span><span style="font-size: 11px"><span style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;"></span></span></div>
</td>
<td style="vertical-align: top; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 34%; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-size: 11px"><span style="font-family: Times New Roman;"><span style="font-weight: bold; color: #000000">Vesting Date</span><span style="color: #000000">&#xA0;&#xA0;</span></span></span></div>
</td>
<td style="vertical-align: top; width: 30%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-size: 11px"><span style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Tashtitov</span></span></div>
</td>
<td style="vertical-align: top; width: 33%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-size: 11px"><span style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Ler</span></span></div>
</td>
<td style="vertical-align: top; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 34%" colspan="2">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
May 18, 2023&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
<td style="vertical-align: top; width: 30%">
<div style="margin-left: 0px; margin-right: 6px; text-indent: 0px;text-align: center">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
14,579</span></div>
</td>
<td style="vertical-align: top; width: 33%">
<div style="margin-left: 0px; margin-right: 8px; text-indent: 0px;text-align: center">
<span style="font-family: Times New Roman; font-size: 13px">9,379</span></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 34%" colspan="2">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
May 18, 2023&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
<td style="vertical-align: top; width: 30%">
<div style="margin-left: 0px; margin-right: 6px; text-indent: 0px;text-align: center">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
10,600</span></div>
</td>
<td style="vertical-align: top; width: 33%">
<div style="margin-left: 0px; margin-right: 8px; text-indent: 0px;text-align: center">
<span style="font-family: Times New Roman; font-size: 13px">8,000</span></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 34%" colspan="2">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
May 18, 2025&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
<td style="vertical-align: top; width: 30%">
<div style="margin-left: 0px; margin-right: 6px; text-indent: 0px;text-align: center">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
10,600</span></div>
</td>
<td style="vertical-align: top; width: 33%">
<div style="margin-left: 0px; margin-right: 8px; text-indent: 0px;text-align: center">
<span style="font-family: Times New Roman; font-size: 13px">8,000</span></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 34%" colspan="2">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
May 18, 2026</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
</span></div>
</td>
<td style="vertical-align: top; width: 30%">
<div style="margin-left: 0px; margin-right: 6px; text-indent: 0px;text-align: center">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
10,600</span></div>
</td>
<td style="vertical-align: top; width: 33%">
<div style="margin-left: 0px; margin-right: 8px; text-indent: 0px;text-align: center">
<span style="font-family: Times New Roman; font-size: 13px">8,000</span></div>
</td>
<td style="vertical-align: top; width: 1%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
</tr>

</tbody></table>
</div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px;">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">Vesting
of the restricted stock grants to each grantee, including Messrs.
Tashtitov and Ler, is contingent upon (i) the grantee remaining in
Continuous Service with the Company through the applicable vesting
dates set forth in the above vesting schedules, and satisfaction of
the Continuous Service requirement notwithstanding, (ii) if the
weighted average closing price of the Company&#x2019;s common shares
for the 20 trading days prior to the first vesting date is less
than 70% of the closing price of the common shares on the Grant
Date, (May 18, 2021), and as to any subsequent vesting date, if the
weighted average closing price of the Company&#x2019;s common shares
for the 20 trading days prior to the vesting date is less than 70%
of the weighted average closing price of the common shares on the
immediately prior vesting date, then the common shares scheduled to
vest on the vesting date shall not vest but shall be automatically
forfeited on the stated vesting date and the Company shall have no
further obligations to the grantee as to any portion of the
restricted stock award forfeited.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">Continuous
Service means the grantee&#x2019;s service with the Company, whether
as an employee, consultant or director, is not interrupted or
terminated. The grantee&#x2019;s Continuous Service shall not be
deemed to have terminated merely because of a change in the
capacity in which the grantee renders service to the Company as an
employee, consultant or director or a change in the entity for
which the grantee renders such service, provided that there is no
interruption or termination of the grantee&#x2019;s Continuous
Service. The compensation committee of the board of directors of
the Company (the &#x201C;Committee&#x201D;), or its delegate, in its
sole discretion, may determine whether Continuous Service shall be
considered interrupted, and whether a Company transaction, such as
a sale or spin-off of a division or subsidiary that employs a
grantee shall be deemed to result in termination of Continuous
Service. If a grantee&#x2019;s Continuous Service terminates for any
reason at any time before all of his or her restricted stock has
vested, the grantee&#x2019;s unvested restricted stock shall be
automatically forfeited upon such termination of Continuous Service
and the Company shall have no further obligations to the grantee
under the agreement, unless otherwise determined by the
Committee.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="text-decoration: underline; color: #000000; font-style: italic; font-family: Times New Roman; font-size: 13px">
Vesting of Long Term Equity Incentive Compensation
Awards</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">Vesting
of the long term equity incentive compensation awards to Messrs.
Tashtitov and Ler is subject to their respective Continuous Service
with the Company until March 31, 2022.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>

<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 48px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="text-decoration: underline; color: #000000; font-style: italic; font-family: Times New Roman; font-size: 13px">
Other Terms of the Restricted Stock Grants and Long Term Equity
Incentive Compensation Awards</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">During
the vesting periods described in this Report, each grantee will be
the record owner of the restricted stock and the grantee shall be
entitled to all the rights of a shareholder of the Company,
including the right to vote and receive dividends or other
distributions on the shares underlying the restricted stock grants
and long term equity incentive compensation awards, provided,
however, that dividend payments or other distributions on unvested
shares shall be held in custody by the Company and subject to the
same restrictions that apply to unvested shares. The shares
underlying the restricted stock grants and long term equity
incentive compensation awards will not be delivered until they
vest. The grantees have no rights to assign, alienate, pledge,
attach, sell or otherwise transfer or encumber the shares
underlying their restricted stock grants or long term equity
incentive compensation awards until such shares vest, except as
otherwise provided in the applicable Restricted Stock Award
Agreement, Long Term Equity Incentive Compensation Agreement or the
Plan. To the extent a grantee forfeits shares of restricted stock,
the grantee shall no longer be entitled to any rights as a
shareholder of the Company, including the rights to vote or receive
dividends or other distributions on such forfeited shares. Neither
the Plan nor the award agreements referred to in this Report confer
upon any grantee the right to be retained in any position with the
Company nor do they limit the Company&#x2019;s rights to terminate
the Continuous Service of any grantee at any time, with or without
cause.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">Each
grantee has agreed that for a period of one-year following
termination of the grantee&#x2019;s Continuous Service with the
Company, the grantee will not compete with the Company or solicit
or contact any current, former or prospective clients of the
Company.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">Unless
otherwise determined by the Committee at the time of a change in
control of the Company, a change in control shall have no effect on
the restricted stock grants or long term equity incentive
compensation awards. If any change is made to the outstanding
common stock or the capital structure of the Company, if required,
the awards discussed in this Report shall be adjusted or terminated
in any manner as contemplated by Section 11 of the
Plan.&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">The
Committee, in its sole discretion, may also amend any outstanding
award, including for purposes of modifying the time or manner of
vesting, or the term of any outstanding award, subject in certain
instances to the consent of the grantee.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 48px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px"><span style="color: #000000">The restricted stock grants were awarded pursuant
to Restricted Stock Award Agreements and the long term equity
incentive compensation awards were awarded pursuant to Long Term
Equity Incentive Compensation Agreements. C</span>opies of (i) a
Form of Restricted Stock Award Agreement used in connection with
the restricted stock grants awarded to the 54 non-executive officer
grantees of the Company, (ii) the Restricted Stock Award Agreements
between the Company and each of Askar Tashtitov and Evgeniy Ler,
and (iii) the Long Term Equity Incentive Compensation Agreements
between the Company and each of Askar Tashtitov and Evgeniy Ler are
attached as Exhibit 10.01 through 10.05 to this Report,
respectively, and incorporated by reference herein. The
descriptions of the terms of such agreements in this Report are
only summaries and are qualified in their entirety by reference to
such agreements.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 9.01 Financial Statements and Exhibits</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><span style="font-family: Times New Roman; font-size: 13px"><span style="color: #000000">(d)</span>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</span></div>
<div style="display: table-cell;text-align: left"><span style="color: #000000; font-family: Times New Roman; font-size: 13px">Exhibits</span></div>
</div>
</div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div class="left">
<table style="width: 100%; font-family: Times New Roman; font-size: 13px; margin: 0px auto 0px 0px;" cellspacing="0" cellpadding="0">

<tbody><tr>
<td style="vertical-align: top; width: 10%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-size: 11px"><span style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Exhibit Number</span></span></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><span style="font-size: 11px"><span style="font-family: Times New Roman;">&#xA0;</span></span></div>
</td>
<td style="vertical-align: top; width: 89%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-size: 11px"><span style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Description</span></span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 10%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
<a href="frhc_ex1001.htm">10.01</a></span></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
Form of Restricted Stock Award Agreement</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 10%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
<a href="frhc_ex1002.htm">10.02</a></span></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
Restricted Stock Award Agreement, effective May 18, 2021, between
Freedom Holding Corp. and Askar Tashtitov</span></div>
</td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
<a href="frhc_ex1003.htm">10.03</a></span></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
Restricted Stock Award Agreement, effective May 18, 2021, between
Holding Corp. and Evgeniy Ler</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 10%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
<a href="frhc_ex1004.htm">10.04</a></span></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
Long Term Equity Incentive Compensation Agreement, effective May
18, 2021, between Freedom Holding Corp. and Askar
Tashtitov</span></div>
</td>
</tr>
<tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
<a href="frhc_ex1005.htm">10.05</a></span></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
Long Term Equity Incentive Compensation Agreement, effective May
18, 2021, between Freedom Holding Corp. and Evgeniy
Ler</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 10%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
104</span></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="color: #000000; font-family: Times New Roman; font-size: 13px">
Cover Page Interactive Data File, formatted in Inline Extensible
Business Reporting Language (iXBRL)</span></div>
</td>
</tr>

</tbody></table>
</div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>

<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: center">
<span style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
SIGNATURE</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 36px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px;">&#xA0;</span></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px;"></span>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px"></span></div>
<div>
<table style="width: 100%; font-family: Times New Roman; font-size: 13px" cellspacing="0" cellpadding="0">

<tbody><tr>
<td style="vertical-align: top; width: 49%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 51%" colspan="2">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px"><span style="font-weight: bold">FREEDOM HOLDING CORP.</span></span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 49%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 51%" colspan="2">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 49%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 51%" colspan="2">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 49%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">Date:
May 21, 2021</span></div>
</td>
<td style="vertical-align: top; width: 4%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">By:</span></div>
</td>
<td style="vertical-align: top; width: 47%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;/s/ Timur
Turlov</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 49%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 4%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 47%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">Timur
Turlov</span></div>
</td>
</tr>
<tr>
<td style="vertical-align: top; width: 49%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 4%">
<div><span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
</td>
<td style="vertical-align: top; width: 47%">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: left">
<span style="font-family: Times New Roman; font-size: 13px">Chief
Executive Officer</span></div>
</td>
</tr>

</tbody></table>
</div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px;text-align: justify">
<span style="font-family: Times New Roman; font-size: 13px">&#xA0;</span></div>
&#xA0;<span style="font-family: Times New Roman; font-size: 13px;"></span></div>

</body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>frhc_ex1001.htm
<DESCRIPTION>FORM OF RESTRICTED STOCK AWARD AGREEMENT
<TEXT>
<html>
<head>
<!-- Document created using Blueprint(R) - powered by Issuer Direct - www.issuerdirect.com -->
<!-- Copyright 2021 Issuer Direct Corporation -->
<title>frhc_ex1001</title>
</head>
<body style="font-family: Times New Roman; font-size: 13px;">
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit 10.01</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #212121; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Form of Restricted Stock Award Agreement</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
This Restricted Stock Award Agreement (this
&#x201C;</font><font style="font-weight: bold; color: #000000">Agreement</font><font style="color: #000000">&#x201D;) is made and entered into as of __________
(the &#x201C;</font><font style="font-weight: bold; color: #000000">Grant Date</font><font style="color: #000000">&#x201D;) by and between Freedom Holding Corp., a
Nevada corporation (the &#x201C;</font><font style="font-weight: bold; color: #000000">Company</font><font style="color: #000000">&#x201D;) and _____________________ (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Grantee</font><font style="color: #000000">&#x201D;).</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Company has
adopted the Freedom Holding Corp. 2019 Equity Incentive Plan (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Plan</font><font style="color: #000000">&#x201D;) pursuant to which awards of Restricted
Stock may be granted; and</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Committee has
determined that it is in the best interests of the Company and its
shareholders to grant the award of Restricted Stock provided for
herein.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
NOW, THEREFORE, the parties hereto, intending to be legally bound,
agree as follows:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
1.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Grant of Restricted
Stock</font><font style="color: #000000">. Pursuant to Section 7.2
of the Plan, the Company hereby issues to the Grantee on the Grant
Date a Restricted Stock Award consisting of, in the aggregate,
_____________ shares of Common Stock of the Company (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Stock</font><font style="color: #000000">&#x201D;), on the terms and
conditions and subject to the restrictions set forth in this
Agreement and the Plan. Capitalized terms that are used but not
defined herein have the meaning ascribed to them in the
Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><a name="#co_anchor_a567439_1">&#xA0;</a></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
2.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Consideration</font><font style="color: #000000">.
The grant of the Restricted Stock is made in consideration of the
services to be rendered by the Grantee to the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
3.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Period;
Vesting</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.1&#xA0;Except
as otherwise provided herein, provided that the Grantee remains in
Continuous Service through the applicable vesting date, and further
provided that any additional conditions and performance goals set
forth in this Section 3 have been satisfied, the Restricted Stock
will vest in accordance with the following schedule:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Vesting Date</font></div>
</td>
<td style="vertical-align: top; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Shares of Common Stock</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">[VESTING
DATE]</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">20%
of the aggregate Restricted Stock</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">[VESTING
DATE]</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">20%
of the aggregate Restricted Stock</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">[VESTING
DATE]</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">20%
of the aggregate Restricted Stock</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">[VESTING
DATE]</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">20%
of the aggregate Restricted Stock</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">[VESTING
DATE]</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">20%
of the aggregate Restricted Stock</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">The period over which the Restricted Stock vests
is referred to as the &#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Period</font><font style="color: #000000">&#x201D;.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#xA0;&#xA0;&#xA0;&#xA0;3.2&#xA0;&#xA0;The
foregoing vesting schedule notwithstanding,</font> <font style="color: #000000">if the weighted average closing price of Company
common shares for the 20 trading days prior to the first vesting
date is less than 70% of the closing price of the common shares on
the Grant Date, and as to any subsequent vesting date, if the
weighted average closing price of Company common shares for the 20
trading days prior to the vesting date is less than 70% of the
weighted average closing price of the common shares on the
immediately prior vesting date, then the common shares scheduled to
vest on the vesting date shall not vest but shall be automatically
forfeited on the stated vesting date and neither the Company nor
any Affiliate shall have any further obligations to the Grantee as
to any portion of the Restricted Shares forfeited.
&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#xA0;&#xA0;&#xA0;&#xA0;</font><font style="color: #000000">3.3&#xA0;The foregoing vesting schedule
notwithstanding, if the Grantee&#x2019;s Continuous Service
terminates for any reason at any time before all of his or her
Restricted Stock has vested, the Grantee&#x2019;s unvested
Restricted Stock shall be automatically forfeited upon such
termination of Continuous Service and neither the Company nor any
Affiliate shall have any further obligations to the Grantee under
this Agreement, unless otherwise determined by the
Committee.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#xA0;&#xA0;&#xA0;3.4</font> <font style="color: #000000">Unless otherwise determined by the Committee at
the time of a Change in Control, a Change in Control shall have no
effect on the Restricted Stock.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
4.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restrictions</font><font style="color: #000000">.
Subject to any exceptions set forth in this Agreement or the Plan,
during the Restricted Period, the Restricted Stock or the rights
relating thereto may not be assigned, alienated, pledged, attached,
sold or otherwise transferred or encumbered by the Grantee. Any
attempt to assign, alienate, pledge, attach, sell or otherwise
transfer or encumber the Restricted Stock or the rights relating
thereto during the Restricted Period shall be wholly ineffective
and, if any such attempt is made, the Restricted Stock will be
forfeited by the Grantee and all of the Grantee&#x2019;s rights to
such shares shall immediately terminate without any payment or
consideration by the Company.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
5.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Rights as Shareholder;
Dividends</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.1&#xA0;The
Grantee shall be the record owner of the Restricted Stock until the
shares of Common Stock are sold or otherwise disposed of, and shall
be entitled to all of the rights of a shareholder of the Company
including, without limitation, the right to vote such shares and
receive all dividends or other distributions paid with respect to
such shares. Notwithstanding the foregoing, any dividends or other
distributions shall be subject to the same restrictions on
transferability as the shares of Restricted Stock with respect to
which they were paid.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.2&#xA0;&#xA0;The
Company may issue stock certificates or evidence the
Grantee&#x2019;s interest by using a restricted book entry account
with the Company&#x2019;s transfer agent. Physical possession or
custody of any stock certificates that are issued shall be retained
by the Company until such time as the Restricted Stock
vests.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.3&#xA0;&#xA0;If
the Grantee forfeits any rights he or she has under this Agreement
in accordance with Section 3, the Grantee shall, on the date of
such forfeiture, no longer have any rights as a shareholder with
respect to the Restricted Stock forfeited and shall no longer be
entitled to vote or receive dividends on such
shares.&#x200C;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
</div>
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<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
6.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Right to Continued
Service</font><font style="color: #000000">. Neither the Plan nor
this Agreement shall confer upon the Grantee any right to be
retained in any position, as an Employee, Consultant or Director of
the Company. Further, nothing in the Plan or this Agreement shall
be construed to limit the discretion of the Company to terminate
the Grantee&#x2019;s Continuous Service at any time, with or without
Cause.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
7.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Adjustments</font><font style="color: #000000">.
If any change is made to the outstanding Common Stock or the
capital structure of the Company, if required, the shares of Common
Stock shall be adjusted or terminated in any manner as contemplated
by Section 11 of the Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
8.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Tax Liability and
Withholding</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;8.1&#xA0;The
Grantee shall be required to pay to the Company, and the Company
shall have the right to deduct from any compensation paid to the
Grantee pursuant to the Plan, the amount of any required
withholding taxes in respect of the Restricted Stock and to take
all such other action as the Committee deems necessary to satisfy
all obligations for the payment of such withholding taxes. The
Committee may permit the Grantee to satisfy any federal, state or
local tax withholding obligation by any of the following means, or
by a combination of such means:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;tendering
a cash payment.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;authorizing
the Company to withhold shares of Common Stock from the shares of
Common Stock otherwise issuable or deliverable to the Grantee as a
result of the vesting of the Restricted Stock; provided, however,
that no shares of Common Stock shall be withheld with a value
exceeding the maximum amount of tax required to be withheld by
law.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;delivering
to the Company previously owned and unencumbered shares of Common
Stock.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#xA0;&#xA0;&#xA0;&#xA0;8.2&#xA0;&#xA0;Notwithstanding
any action the Company takes with respect to any or all income tax,
social insurance, payroll tax, or other tax-related withholding
(&#x201D;</font><font style="font-weight: bold; color: #000000">Tax-Related
Items</font><font style="color: #000000">&#x201D;), the ultimate
liability for all Tax-Related Items is and remains the
Grantee&#x2019;s responsibility and the Company (a) makes no
representation or undertakings regarding the treatment of any
Tax-Related Items in connection with the grant or vesting of the
Restricted Stock or the subsequent sale of any shares; and (b) does
not commit to structure the Restricted Stock to reduce or eliminate
the Grantee&#x2019;s liability for Tax-Related
Items.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
9.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Section 83(b)
Election</font><font style="color: #000000">. The Grantee may make
an election under Code Section 83(b) (a &#x201C;</font><font style="font-weight: bold; color: #000000">Section 83(b)
Election</font><font style="color: #000000">&#x201D;) with respect
to the Restricted Stock. Any such election must be made within
thirty (30) days after the Grant Date. If the Grantee elects to
make a Section 83(b) Election, the Grantee shall provide the
Company with a copy of an executed version and satisfactory
evidence of the filing of the executed Section 83(b) Election with
the US Internal Revenue Service. The Grantee agrees to assume full
responsibility for ensuring that the Section 83(b) Election is
actually and timely filed with the US Internal Revenue Service and
for all tax consequences resulting from the Section 83(b)
Election.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x200C;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
10.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Non-competition and
Non-solicitation</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.1&#xA0;&#xA0;In
consideration of the Restricted Stock, the Grantee agrees and
covenants not to:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;contribute
his or her knowledge, directly or indirectly, in whole or in part,
as an employee, officer, owner, manager, advisor, consultant,
agent, partner, director, shareholder, volunteer, intern or in any
other similar capacity to an entity engaged in the same or similar
business as the Company and its Affiliates, including those engaged
in the business of financial services for a period of one year
following the Grantee&#x2019;s termination of Continuous
Service;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;directly
or indirectly, solicit, hire, recruit, attempt to hire or recruit,
or induce the termination of employment of any employee of the
Company or its Affiliates for two years following the
Grantee&#x2019;s termination of Continuous Service;
or&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;directly
or indirectly, solicit, contact (including, but not limited to,
e-mail, regular mail, express mail, telephone, and instant
message), attempt to contact or meet with the current, former or
prospective customers of the Company or any of its Affiliates for
purposes of offering or accepting goods or services similar to or
competitive with those offered by the Company or any of its
Affiliates for a period of one year following the Grantee&#x2019;s
termination of Continuous Service.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.2&#xA0;&#xA0;If
the Grantee breaches any of the covenants set forth in Section
10.1:&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;all
unvested Restricted Stock shall be immediately forfeited;
and&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;the
Grantee hereby consents and agrees that the Company shall be
entitled to seek, in addition to other available remedies, a
temporary or permanent injunction or other equitable relief against
such breach or threatened breach from any court of competent
jurisdiction, without the necessity of showing any actual damages
or that money damages would not afford an adequate remedy, and
without the necessity of posting any bond or other security. The
aforementioned equitable relief shall be in addition to, not in
lieu of, legal remedies, monetary damages or other available forms
of relief.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
11.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Compliance with
Law</font><font style="color: #000000">. The issuance and transfer
of shares of Common Stock shall be subject to compliance by the
Company and the Grantee with all applicable requirements of federal
and state securities laws and with all applicable requirements of
any stock exchange on which the Company&#x2019;s shares of Common
Stock may be listed. No shares of Common Stock shall be issued or
transferred unless and until any then applicable requirements of
state and federal laws and regulatory agencies have been fully
complied with to the satisfaction of the Company and its counsel.
The Grantee understands that the Company is under no obligation to
register the shares of Common Stock with the Securities and
Exchange Commission, any state securities commission, any stock
exchange or any foreign securities regulatory authority to effect
such compliance.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
12.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Legends</font><font style="color: #000000">.
A legend may be placed on any certificate(s) or other document(s)
delivered to the Grantee indicating restrictions on transferability
of the shares of Restricted Stock pursuant to this Agreement or any
other restrictions that the Committee may deem advisable under the
rules, regulations and other requirements of the Securities and
Exchange Commission, any applicable federal or state securities
laws or any stock exchange on which the shares of Common Stock are
then listed or quoted.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
13.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Notices</font><font style="color: #000000">.
Any notice required to be delivered to the Company under this
Agreement shall be in writing and addressed to the Secretary of the
Company at the Company&#x2019;s principal corporate offices. Any
notice required to be delivered to the Grantee under this Agreement
shall be in writing and addressed to the Grantee at the
Grantee&#x2019;s address as shown in the records of the Company.
Either party may designate another address in writing (or by such
other method approved by the Company) from time to
time.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
14.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Governing
Law</font><font style="color: #000000">. This Agreement will be
construed and interpreted in accordance with the laws of the State
of Nevada without regard to conflict of law
principles.&#x200C;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
15.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Interpretation</font><font style="color: #000000">.
Any dispute regarding the interpretation of this Agreement shall be
submitted by the Grantee or the Company to the Committee for
review. The resolution of such dispute by the Committee shall be
final and binding on the Grantee and the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
16.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Stock
Subject to Plan</font><font style="color: #000000">. This Agreement
is subject to the Plan as approved by the Company&#x2019;s
shareholders. The terms and provisions of the Plan as it may be
amended from time to time are hereby incorporated herein by
reference. In the event of a conflict between any term or provision
contained herein and a term or provision of the Plan, the
applicable terms and provisions of the Plan will govern and
prevail.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
17.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Successors and
Assigns</font><font style="color: #000000">. The Company may assign
any of its rights under this Agreement. This Agreement will be
binding upon and inure to the benefit of the successors and assigns
of the Company. Subject to the restrictions on transfer set forth
herein, this Agreement will be binding upon the Grantee and the
Grantee&#x2019;s beneficiaries, executors, administrators and the
person(s) to whom the Restricted Stock may be transferred by will
or the laws of descent or distribution.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
18.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Severability</font><font style="color: #000000">.
The invalidity or unenforceability of any provision of the Plan or
this Agreement shall not affect the validity or enforceability of
any other provision of the Plan or this Agreement, and each
provision of the Plan and this Agreement shall be severable and
enforceable to the extent permitted by
law.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
19.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Discretionary Nature
of Plan</font><font style="color: #000000">. The Plan is
discretionary and may be amended, cancelled or terminated by the
Company at any time, in its discretion. The grant of the Restricted
Stock in this Agreement does not create any contractual right or
other right to receive any Restricted Stock or other Awards in the
future. Future Awards, if any, will be at the sole discretion of
the Company. Any amendment, modification, or termination of the
Plan shall not constitute a change or impairment of the terms and
conditions of the Grantee&#x2019;s employment with the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
20.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Amendment</font><font style="color: #000000">.
The Committee has the right to amend, alter, suspend, discontinue
or cancel the Restricted Stock, prospectively or retroactively;
provided, that, no such amendment shall adversely affect the
Grantee&#x2019;s material rights under this Agreement without the
Grantee&#x2019;s consent.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
21.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Impact on Other
Benefits</font><font style="color: #000000">. The value of the
Grantee&#x2019;s Restricted Stock is not part of his or her normal
or expected compensation for purposes of calculating any severance,
retirement, welfare, insurance or similar employee
benefit.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
22.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Counterparts</font><font style="color: #000000">.
This Agreement may be executed in counterparts, each of which shall
be deemed an original but all of which together will constitute one
and the same instrument. Counterpart signature pages to this
Agreement transmitted by facsimile transmission, by electronic mail
in portable document format (.pdf), or by any other electronic
means intended to preserve the original graphic and pictorial
appearance of a document, will have the same effect as physical
delivery of the paper document bearing an original
signature.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
23.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Acceptance</font><font style="color: #000000">.
The Grantee hereby acknowledges receipt of a copy of the Plan and
this Agreement. The Grantee has read and understands the terms and
provisions thereof, and accepts the Restricted Stock subject to all
of the terms and conditions of the Plan and this Agreement. The
Grantee acknowledges that there may be adverse tax consequences
upon the grant or vesting of the Restricted Stock or disposition of
the underlying shares and that the Grantee has been advised to
consult a tax advisor prior to such grant, vesting or
disposition.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Freedom
Holding Corp.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">By:
_____________________</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Adam R. Cook</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Title:
Secretary</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">[GRANTEE
NAME]</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">By:
_____________________</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>frhc_ex1002.htm
<DESCRIPTION>RESTRICTED STOCK AWARD AGREEMENT, EFFECTIVE MAY 18, 2021, BETWEEN FREEDOM HOLDING CORP. AND ASKAR TASHTITOV
<TEXT>
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Exhibit 10.02</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #212121; font-family: Times New Roman; font-size: 13px">
Restricted Stock Award Agreement</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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This Restricted Stock Award Agreement (this
&#x201C;</font><font style="font-weight: bold; color: #000000">Agreement</font><font style="color: #000000">&#x201D;) is made and entered into as of May 18,
2021, (the &#x201C;</font><font style="font-weight: bold; color: #000000">Grant Date</font><font style="color: #000000">&#x201D;) by and between Freedom Holding Corp., a
Nevada corporation (the &#x201C;</font><font style="font-weight: bold; color: #000000">Company</font><font style="color: #000000">&#x201D;) and Askar Tashtitov (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Grantee</font><font style="color: #000000">&#x201D;).</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Company has
adopted the Freedom Holding Corp. 2019 Equity Incentive Plan (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Plan</font><font style="color: #000000">&#x201D;) pursuant to which awards of Restricted
Stock may be granted; and</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Committee has
determined that it is in the best interests of the Company and its
shareholders to grant the award of Restricted Stock provided for
herein.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
NOW, THEREFORE, the parties hereto, intending to be legally bound,
agree as follows:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
1.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Grant of Restricted
Stock</font><font style="color: #000000">. Pursuant to Section 7.2
of the Plan, the Company hereby issues to the Grantee on the Grant
Date a Restricted Stock Award consisting of, in the aggregate,
46,379 shares of Common Stock of the Company (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Stock</font><font style="color: #000000">&#x201D;), on the terms and
conditions and subject to the restrictions set forth in this
Agreement and the Plan. Capitalized terms that are used but not
defined herein have the meaning ascribed to them in the
Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
2.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Consideration</font><font style="color: #000000">.
The grant of the Restricted Stock is made in consideration of the
services to be rendered by the Grantee to the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
3.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Period;
Vesting</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.1&#xA0;Except
as otherwise provided herein, provided that the Grantee remains in
Continuous Service through the applicable vesting date, and further
provided that any additional conditions and performance goals set
forth in this Section 3 have been satisfied, the Restricted Stock
will vest in accordance with the following schedule:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Vesting Date</font></div>
</td>
<td style="vertical-align: top; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Shares of Common Stock</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">May
18, 2023</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">14,579
shares</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">May
18, 2024</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">10,600
shares</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">May
18, 2025</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">10,600
shares</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">May
18, 2026</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">10,600
shares</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">The period over which the Restricted Stock vests
is referred to as the &#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Period</font><font style="color: #000000">&#x201D;.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.2&#xA0;&#xA0;The
foregoing vesting schedule notwithstanding, if the weighted average
closing price of Company common shares for the 20 trading days
prior to the first vesting date is less than 70% of the closing
price of the common shares on the Grant Date, and as to any
subsequent vesting date, if the weighted average closing price of
Company common shares for the 20 trading days prior to the vesting
date is less than 70% of the weighted average closing price of the
common shares on the immediately prior vesting date, then the
common shares scheduled to vest on the vesting date shall not vest
but shall be automatically forfeited on the stated vesting date and
neither the Company nor any Affiliate shall have any further
obligations to the Grantee as to any portion of the Restricted
Shares forfeited. &#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.3&#xA0;The
foregoing vesting schedule notwithstanding, if the Grantee&#x2019;s
Continuous Service terminates for any reason at any time before all
of his or her Restricted Stock has vested, the Grantee&#x2019;s
unvested Restricted Stock shall be automatically forfeited upon
such termination of Continuous Service and neither the Company nor
any Affiliate shall have any further obligations to the Grantee
under this Agreement, unless otherwise determined by the
Committee.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;3.4
Unless otherwise determined by the Committee at the time of a
Change in Control, a Change in Control shall have no effect on the
Restricted Stock.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
4.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restrictions</font><font style="color: #000000">.
Subject to any exceptions set forth in this Agreement or the Plan,
during the Restricted Period, the Restricted Stock or the rights
relating thereto may not be assigned, alienated, pledged, attached,
sold or otherwise transferred or encumbered by the Grantee. Any
attempt to assign, alienate, pledge, attach, sell or otherwise
transfer or encumber the Restricted Stock or the rights relating
thereto during the Restricted Period shall be wholly ineffective
and, if any such attempt is made, the Restricted Stock will be
forfeited by the Grantee and all of the Grantee&#x2019;s rights to
such shares shall immediately terminate without any payment or
consideration by the Company.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
5.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Rights as Shareholder;
Dividends</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.1&#xA0;The
Grantee shall be the record owner of the Restricted Stock until the
shares of Common Stock are sold or otherwise disposed of, and shall
be entitled to all of the rights of a shareholder of the Company
including, without limitation, the right to vote such shares and
receive all dividends or other distributions paid with respect to
such shares. Notwithstanding the foregoing, any dividends or other
distributions shall be subject to the same restrictions on
transferability as the shares of Restricted Stock with respect to
which they were paid.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.2&#xA0;&#xA0;The
Company may issue stock certificates or evidence the
Grantee&#x2019;s interest by using a restricted book entry account
with the Company&#x2019;s transfer agent. Physical possession or
custody of any stock certificates that are issued shall be retained
by the Company until such time as the Restricted Stock
vests.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.3&#xA0;&#xA0;If
the Grantee forfeits any rights he or she has under this Agreement
in accordance with Section 3, the Grantee shall, on the date of
such forfeiture, no longer have any rights as a shareholder with
respect to the Restricted Stock forfeited and shall no longer be
entitled to vote or receive dividends on such
shares.&#x200C;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
6.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Right to Continued
Service</font><font style="color: #000000">. Neither the Plan nor
this Agreement shall confer upon the Grantee any right to be
retained in any position, as an Employee, Consultant or Director of
the Company. Further, nothing in the Plan or this Agreement shall
be construed to limit the discretion of the Company to terminate
the Grantee&#x2019;s Continuous Service at any time, with or without
Cause.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
7.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Adjustments</font><font style="color: #000000">.
If any change is made to the outstanding Common Stock or the
capital structure of the Company, if required, the shares of Common
Stock shall be adjusted or terminated in any manner as contemplated
by Section 11 of the Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
8.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Tax Liability and
Withholding</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;8.1&#xA0;The
Grantee shall be required to pay to the Company, and the Company
shall have the right to deduct from any compensation paid to the
Grantee pursuant to the Plan, the amount of any required
withholding taxes in respect of the Restricted Stock and to take
all such other action as the Committee deems necessary to satisfy
all obligations for the payment of such withholding taxes. The
Committee may permit the Grantee to satisfy any federal, state or
local tax withholding obligation by any of the following means, or
by a combination of such means:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;tendering
a cash payment.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;authorizing
the Company to withhold shares of Common Stock from the shares of
Common Stock otherwise issuable or deliverable to the Grantee as a
result of the vesting of the Restricted Stock; provided, however,
that no shares of Common Stock shall be withheld with a value
exceeding the maximum amount of tax required to be withheld by
law.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;delivering
to the Company previously owned and unencumbered shares of Common
Stock.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#xA0;&#xA0;&#xA0;&#xA0;8.2&#xA0;&#xA0;Notwithstanding
any action the Company takes with respect to any or all income tax,
social insurance, payroll tax, or other tax-related withholding
(&#x201D;</font><font style="font-weight: bold; color: #000000">Tax-Related
Items</font><font style="color: #000000">&#x201D;), the ultimate
liability for all Tax-Related Items is and remains the
Grantee&#x2019;s responsibility and the Company (a) makes no
representation or undertakings regarding the treatment of any
Tax-Related Items in connection with the grant or vesting of the
Restricted Stock or the subsequent sale of any shares; and (b) does
not commit to structure the Restricted Stock to reduce or eliminate
the Grantee&#x2019;s liability for Tax-Related
Items.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
9.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Section 83(b)
Election</font><font style="color: #000000">. The Grantee may make
an election under Code Section 83(b) (a &#x201C;</font><font style="font-weight: bold; color: #000000">Section 83(b)
Election</font><font style="color: #000000">&#x201D;) with respect
to the Restricted Stock. Any such election must be made within
thirty (30) days after the Grant Date. If the Grantee elects to
make a Section 83(b) Election, the Grantee shall provide the
Company with a copy of an executed version and satisfactory
evidence of the filing of the executed Section 83(b) Election with
the US Internal Revenue Service. The Grantee agrees to assume full
responsibility for ensuring that the Section 83(b) Election is
actually and timely filed with the US Internal Revenue Service and
for all tax consequences resulting from the Section 83(b)
Election.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x200C;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
10.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Non-competition and
Non-solicitation</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.1&#xA0;&#xA0;In
consideration of the Restricted Stock, the Grantee agrees and
covenants not to:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;contribute
his or her knowledge, directly or indirectly, in whole or in part,
as an employee, officer, owner, manager, advisor, consultant,
agent, partner, director, shareholder, volunteer, intern or in any
other similar capacity to an entity engaged in the same or similar
business as the Company and its Affiliates, including those engaged
in the business of financial services for a period of one year
following the Grantee&#x2019;s termination of Continuous
Service;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;directly
or indirectly, solicit, hire, recruit, attempt to hire or recruit,
or induce the termination of employment of any employee of the
Company or its Affiliates for two years following the
Grantee&#x2019;s termination of Continuous Service;
or&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;directly
or indirectly, solicit, contact (including, but not limited to,
e-mail, regular mail, express mail, telephone, and instant
message), attempt to contact or meet with the current, former or
prospective customers of the Company or any of its Affiliates for
purposes of offering or accepting goods or services similar to or
competitive with those offered by the Company or any of its
Affiliates for a period of one year following the Grantee&#x2019;s
termination of Continuous Service.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.2&#xA0;&#xA0;If
the Grantee breaches any of the covenants set forth in Section
10.1:&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;all
unvested Restricted Stock shall be immediately forfeited;
and&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;the
Grantee hereby consents and agrees that the Company shall be
entitled to seek, in addition to other available remedies, a
temporary or permanent injunction or other equitable relief against
such breach or threatened breach from any court of competent
jurisdiction, without the necessity of showing any actual damages
or that money damages would not afford an adequate remedy, and
without the necessity of posting any bond or other security. The
aforementioned equitable relief shall be in addition to, not in
lieu of, legal remedies, monetary damages or other available forms
of relief.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
11.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Compliance with
Law</font><font style="color: #000000">. The issuance and transfer
of shares of Common Stock shall be subject to compliance by the
Company and the Grantee with all applicable requirements of federal
and state securities laws and with all applicable requirements of
any stock exchange on which the Company&#x2019;s shares of Common
Stock may be listed. No shares of Common Stock shall be issued or
transferred unless and until any then applicable requirements of
state and federal laws and regulatory agencies have been fully
complied with to the satisfaction of the Company and its counsel.
The Grantee understands that the Company is under no obligation to
register the shares of Common Stock with the Securities and
Exchange Commission, any state securities commission, any stock
exchange or any foreign securities regulatory authority to effect
such compliance.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
12.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Legends</font><font style="color: #000000">.
A legend may be placed on any certificate(s) or other document(s)
delivered to the Grantee indicating restrictions on transferability
of the shares of Restricted Stock pursuant to this Agreement or any
other restrictions that the Committee may deem advisable under the
rules, regulations and other requirements of the Securities and
Exchange Commission, any applicable federal or state securities
laws or any stock exchange on which the shares of Common Stock are
then listed or quoted.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
13.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Notices</font><font style="color: #000000">.
Any notice required to be delivered to the Company under this
Agreement shall be in writing and addressed to the Secretary of the
Company at the Company&#x2019;s principal corporate offices. Any
notice required to be delivered to the Grantee under this Agreement
shall be in writing and addressed to the Grantee at the
Grantee&#x2019;s address as shown in the records of the Company.
Either party may designate another address in writing (or by such
other method approved by the Company) from time to
time.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
14.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Governing
Law</font><font style="color: #000000">. This Agreement will be
construed and interpreted in accordance with the laws of the State
of Nevada without regard to conflict of law
principles.&#x200C;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
15.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Interpretation</font><font style="color: #000000">.
Any dispute regarding the interpretation of this Agreement shall be
submitted by the Grantee or the Company to the Committee for
review. The resolution of such dispute by the Committee shall be
final and binding on the Grantee and the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
16.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Stock
Subject to Plan</font><font style="color: #000000">. This Agreement
is subject to the Plan as approved by the Company&#x2019;s
shareholders. The terms and provisions of the Plan as it may be
amended from time to time are hereby incorporated herein by
reference. In the event of a conflict between any term or provision
contained herein and a term or provision of the Plan, the
applicable terms and provisions of the Plan will govern and
prevail.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
17.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Successors and
Assigns</font><font style="color: #000000">. The Company may assign
any of its rights under this Agreement. This Agreement will be
binding upon and inure to the benefit of the successors and assigns
of the Company. Subject to the restrictions on transfer set forth
herein, this Agreement will be binding upon the Grantee and the
Grantee&#x2019;s beneficiaries, executors, administrators and the
person(s) to whom the Restricted Stock may be transferred by will
or the laws of descent or distribution.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
18.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Severability</font><font style="color: #000000">.
The invalidity or unenforceability of any provision of the Plan or
this Agreement shall not affect the validity or enforceability of
any other provision of the Plan or this Agreement, and each
provision of the Plan and this Agreement shall be severable and
enforceable to the extent permitted by
law.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
19.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Discretionary Nature
of Plan</font><font style="color: #000000">. The Plan is
discretionary and may be amended, cancelled or terminated by the
Company at any time, in its discretion. The grant of the Restricted
Stock in this Agreement does not create any contractual right or
other right to receive any Restricted Stock or other Awards in the
future. Future Awards, if any, will be at the sole discretion of
the Company. Any amendment, modification, or termination of the
Plan shall not constitute a change or impairment of the terms and
conditions of the Grantee&#x2019;s employment with the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
20.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Amendment</font><font style="color: #000000">.
The Committee has the right to amend, alter, suspend, discontinue
or cancel the Restricted Stock, prospectively or retroactively;
provided, that, no such amendment shall adversely affect the
Grantee&#x2019;s material rights under this Agreement without the
Grantee&#x2019;s consent.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
21.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Impact on Other
Benefits</font><font style="color: #000000">. The value of the
Grantee&#x2019;s Restricted Stock is not part of his or her normal
or expected compensation for purposes of calculating any severance,
retirement, welfare, insurance or similar employee
benefit.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
22.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Counterparts</font><font style="color: #000000">.
This Agreement may be executed in counterparts, each of which shall
be deemed an original but all of which together will constitute one
and the same instrument. Counterpart signature pages to this
Agreement transmitted by facsimile transmission, by electronic mail
in portable document format (.pdf), or by any other electronic
means intended to preserve the original graphic and pictorial
appearance of a document, will have the same effect as physical
delivery of the paper document bearing an original
signature.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
23.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Acceptance</font><font style="color: #000000">.
The Grantee hereby acknowledges receipt of a copy of the Plan and
this Agreement. The Grantee has read and understands the terms and
provisions thereof, and accepts the Restricted Stock subject to all
of the terms and conditions of the Plan and this Agreement. The
Grantee acknowledges that there may be adverse tax consequences
upon the grant or vesting of the Restricted Stock or disposition of
the underlying shares and that the Grantee has been advised to
consult a tax advisor prior to such grant, vesting or
disposition.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Freedom
Holding Corp.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%;">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font></font> <font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">/s/ Adam R. Cook</font></font></font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Adam R. Cook</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Title:
Secretary</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Askar
Tashtitov</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%;">
<div style="text-align: left; margin-left: 12px; margin-right: 103px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font> <font style="color: #000000"><font style="text-decoration: underline">/s/ Askar
Tashtitov</font></font></font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Askar Tashtitov</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>frhc_ex1003.htm
<DESCRIPTION>RESTRICTED STOCK AWARD AGREEMENT, EFFECTIVE MAY 18, 2021, BETWEEN HOLDING CORP. AND EVGENIY LER
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit 10.03</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #212121; font-family: Times New Roman; font-size: 13px">
Restricted Stock Award Agreement</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
This Restricted Stock Award Agreement (this
&#x201C;</font><font style="font-weight: bold; color: #000000">Agreement</font><font style="color: #000000">&#x201D;) is made and entered into as of May 18,
2021, (the &#x201C;</font><font style="font-weight: bold; color: #000000">Grant Date</font><font style="color: #000000">&#x201D;) by and between Freedom Holding Corp., a
Nevada corporation (the &#x201C;</font><font style="font-weight: bold; color: #000000">Company</font><font style="color: #000000">&#x201D;) and Evgeniy Ler (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Grantee</font><font style="color: #000000">&#x201D;).</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Company has
adopted the Freedom Holding Corp. 2019 Equity Incentive Plan (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Plan</font><font style="color: #000000">&#x201D;) pursuant to which awards of Restricted
Stock may be granted; and</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Committee has
determined that it is in the best interests of the Company and its
shareholders to grant the award of Restricted Stock provided for
herein.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
NOW, THEREFORE, the parties hereto, intending to be legally bound,
agree as follows:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
1.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Grant of Restricted
Stock</font><font style="color: #000000">. Pursuant to Section 7.2
of the Plan, the Company hereby issues to the Grantee on the Grant
Date a Restricted Stock Award consisting of, in the aggregate,
33,379 shares of Common Stock of the Company (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Stock</font><font style="color: #000000">&#x201D;), on the terms and
conditions and subject to the restrictions set forth in this
Agreement and the Plan. Capitalized terms that are used but not
defined herein have the meaning ascribed to them in the
Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
2.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Consideration</font><font style="color: #000000">.
The grant of the Restricted Stock is made in consideration of the
services to be rendered by the Grantee to the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
3.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Period;
Vesting</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.1&#xA0;Except
as otherwise provided herein, provided that the Grantee remains in
Continuous Service through the applicable vesting date, and further
provided that any additional conditions and performance goals set
forth in this Section 3 have been satisfied, the Restricted Stock
will vest in accordance with the following schedule:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Vesting Date</font></div>
</td>
<td style="vertical-align: top; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Shares of Common Stock</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">May
18, 2023</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">9,379
shares</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">May
18, 2024</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">8,000
shares</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">May
18, 2025</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">8,000
shares</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">May
18, 2026</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">8,000
shares</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">The period over which the Restricted Stock vests
is referred to as the &#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Period</font><font style="color: #000000">&#x201D;.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.2&#xA0;&#xA0;The
foregoing vesting schedule notwithstanding, if the weighted average
closing price of Company common shares for the 20 trading days
prior to the first vesting date is less than 70% of the closing
price of the common shares on the Grant Date, and as to any
subsequent vesting date, if the weighted average closing price of
Company common shares for the 20 trading days prior to the vesting
date is less than 70% of the weighted average closing price of the
common shares on the immediately prior vesting date, then the
common shares scheduled to vest on the vesting date shall not vest
but shall be automatically forfeited on the stated vesting date and
neither the Company nor any Affiliate shall have any further
obligations to the Grantee as to any portion of the Restricted
Shares forfeited. &#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.3&#xA0;The
foregoing vesting schedule notwithstanding, if the Grantee&#x2019;s
Continuous Service terminates for any reason at any time before all
of his or her Restricted Stock has vested, the Grantee&#x2019;s
unvested Restricted Stock shall be automatically forfeited upon
such termination of Continuous Service and neither the Company nor
any Affiliate shall have any further obligations to the Grantee
under this Agreement, unless otherwise determined by the
Committee.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;3.4
Unless otherwise determined by the Committee at the time of a
Change in Control, a Change in Control shall have no effect on the
Restricted Stock.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
4.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restrictions</font><font style="color: #000000">.
Subject to any exceptions set forth in this Agreement or the Plan,
during the Restricted Period, the Restricted Stock or the rights
relating thereto may not be assigned, alienated, pledged, attached,
sold or otherwise transferred or encumbered by the Grantee. Any
attempt to assign, alienate, pledge, attach, sell or otherwise
transfer or encumber the Restricted Stock or the rights relating
thereto during the Restricted Period shall be wholly ineffective
and, if any such attempt is made, the Restricted Stock will be
forfeited by the Grantee and all of the Grantee&#x2019;s rights to
such shares shall immediately terminate without any payment or
consideration by the Company.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
5.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Rights as Shareholder;
Dividends</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.1&#xA0;The
Grantee shall be the record owner of the Restricted Stock until the
shares of Common Stock are sold or otherwise disposed of, and shall
be entitled to all of the rights of a shareholder of the Company
including, without limitation, the right to vote such shares and
receive all dividends or other distributions paid with respect to
such shares. Notwithstanding the foregoing, any dividends or other
distributions shall be subject to the same restrictions on
transferability as the shares of Restricted Stock with respect to
which they were paid.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.2&#xA0;&#xA0;The
Company may issue stock certificates or evidence the
Grantee&#x2019;s interest by using a restricted book entry account
with the Company&#x2019;s transfer agent. Physical possession or
custody of any stock certificates that are issued shall be retained
by the Company until such time as the Restricted Stock
vests.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.3&#xA0;&#xA0;If
the Grantee forfeits any rights he or she has under this Agreement
in accordance with Section 3, the Grantee shall, on the date of
such forfeiture, no longer have any rights as a shareholder with
respect to the Restricted Stock forfeited and shall no longer be
entitled to vote or receive dividends on such
shares.&#x200C;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
6.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Right to Continued
Service</font><font style="color: #000000">. Neither the Plan nor
this Agreement shall confer upon the Grantee any right to be
retained in any position, as an Employee, Consultant or Director of
the Company. Further, nothing in the Plan or this Agreement shall
be construed to limit the discretion of the Company to terminate
the Grantee&#x2019;s Continuous Service at any time, with or without
Cause.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
7.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Adjustments</font><font style="color: #000000">.
If any change is made to the outstanding Common Stock or the
capital structure of the Company, if required, the shares of Common
Stock shall be adjusted or terminated in any manner as contemplated
by Section 11 of the Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
8.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Tax Liability and
Withholding</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;8.1&#xA0;The
Grantee shall be required to pay to the Company, and the Company
shall have the right to deduct from any compensation paid to the
Grantee pursuant to the Plan, the amount of any required
withholding taxes in respect of the Restricted Stock and to take
all such other action as the Committee deems necessary to satisfy
all obligations for the payment of such withholding taxes. The
Committee may permit the Grantee to satisfy any federal, state or
local tax withholding obligation by any of the following means, or
by a combination of such means:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;tendering
a cash payment.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;authorizing
the Company to withhold shares of Common Stock from the shares of
Common Stock otherwise issuable or deliverable to the Grantee as a
result of the vesting of the Restricted Stock; provided, however,
that no shares of Common Stock shall be withheld with a value
exceeding the maximum amount of tax required to be withheld by
law.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;delivering
to the Company previously owned and unencumbered shares of Common
Stock.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#xA0;&#xA0;&#xA0;&#xA0;8.2&#xA0;&#xA0;Notwithstanding
any action the Company takes with respect to any or all income tax,
social insurance, payroll tax, or other tax-related withholding
(&#x201D;</font><font style="font-weight: bold; color: #000000">Tax-Related
Items</font><font style="color: #000000">&#x201D;), the ultimate
liability for all Tax-Related Items is and remains the
Grantee&#x2019;s responsibility and the Company (a) makes no
representation or undertakings regarding the treatment of any
Tax-Related Items in connection with the grant or vesting of the
Restricted Stock or the subsequent sale of any shares; and (b) does
not commit to structure the Restricted Stock to reduce or eliminate
the Grantee&#x2019;s liability for Tax-Related
Items.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
9.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Section 83(b)
Election</font><font style="color: #000000">. The Grantee may make
an election under Code Section 83(b) (a &#x201C;</font><font style="font-weight: bold; color: #000000">Section 83(b)
Election</font><font style="color: #000000">&#x201D;) with respect
to the Restricted Stock. Any such election must be made within
thirty (30) days after the Grant Date. If the Grantee elects to
make a Section 83(b) Election, the Grantee shall provide the
Company with a copy of an executed version and satisfactory
evidence of the filing of the executed Section 83(b) Election with
the US Internal Revenue Service. The Grantee agrees to assume full
responsibility for ensuring that the Section 83(b) Election is
actually and timely filed with the US Internal Revenue Service and
for all tax consequences resulting from the Section 83(b)
Election.</font></font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
10.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Non-competition and
Non-solicitation</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.1&#xA0;&#xA0;In
consideration of the Restricted Stock, the Grantee agrees and
covenants not to:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;contribute
his or her knowledge, directly or indirectly, in whole or in part,
as an employee, officer, owner, manager, advisor, consultant,
agent, partner, director, shareholder, volunteer, intern or in any
other similar capacity to an entity engaged in the same or similar
business as the Company and its Affiliates, including those engaged
in the business of financial services for a period of one year
following the Grantee&#x2019;s termination of Continuous
Service;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;directly
or indirectly, solicit, hire, recruit, attempt to hire or recruit,
or induce the termination of employment of any employee of the
Company or its Affiliates for two years following the
Grantee&#x2019;s termination of Continuous Service;
or&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;directly
or indirectly, solicit, contact (including, but not limited to,
e-mail, regular mail, express mail, telephone, and instant
message), attempt to contact or meet with the current, former or
prospective customers of the Company or any of its Affiliates for
purposes of offering or accepting goods or services similar to or
competitive with those offered by the Company or any of its
Affiliates for a period of one year following the Grantee&#x2019;s
termination of Continuous Service.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.2&#xA0;&#xA0;If
the Grantee breaches any of the covenants set forth in Section
10.1:&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;all
unvested Restricted Stock shall be immediately forfeited;
and&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;the
Grantee hereby consents and agrees that the Company shall be
entitled to seek, in addition to other available remedies, a
temporary or permanent injunction or other equitable relief against
such breach or threatened breach from any court of competent
jurisdiction, without the necessity of showing any actual damages
or that money damages would not afford an adequate remedy, and
without the necessity of posting any bond or other security. The
aforementioned equitable relief shall be in addition to, not in
lieu of, legal remedies, monetary damages or other available forms
of relief.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
11.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Compliance with
Law</font><font style="color: #000000">. The issuance and transfer
of shares of Common Stock shall be subject to compliance by the
Company and the Grantee with all applicable requirements of federal
and state securities laws and with all applicable requirements of
any stock exchange on which the Company&#x2019;s shares of Common
Stock may be listed. No shares of Common Stock shall be issued or
transferred unless and until any then applicable requirements of
state and federal laws and regulatory agencies have been fully
complied with to the satisfaction of the Company and its counsel.
The Grantee understands that the Company is under no obligation to
register the shares of Common Stock with the Securities and
Exchange Commission, any state securities commission, any stock
exchange or any foreign securities regulatory authority to effect
such compliance.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
12.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Legends</font><font style="color: #000000">.
A legend may be placed on any certificate(s) or other document(s)
delivered to the Grantee indicating restrictions on transferability
of the shares of Restricted Stock pursuant to this Agreement or any
other restrictions that the Committee may deem advisable under the
rules, regulations and other requirements of the Securities and
Exchange Commission, any applicable federal or state securities
laws or any stock exchange on which the shares of Common Stock are
then listed or quoted.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
13.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Notices</font><font style="color: #000000">.
Any notice required to be delivered to the Company under this
Agreement shall be in writing and addressed to the Secretary of the
Company at the Company&#x2019;s principal corporate offices. Any
notice required to be delivered to the Grantee under this Agreement
shall be in writing and addressed to the Grantee at the
Grantee&#x2019;s address as shown in the records of the Company.
Either party may designate another address in writing (or by such
other method approved by the Company) from time to
time.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
14.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Governing
Law</font><font style="color: #000000">. This Agreement will be
construed and interpreted in accordance with the laws of the State
of Nevada without regard to conflict of law
principles.&#x200C;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
15.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Interpretation</font><font style="color: #000000">.
Any dispute regarding the interpretation of this Agreement shall be
submitted by the Grantee or the Company to the Committee for
review. The resolution of such dispute by the Committee shall be
final and binding on the Grantee and the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
16.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Stock
Subject to Plan</font><font style="color: #000000">. This Agreement
is subject to the Plan as approved by the Company&#x2019;s
shareholders. The terms and provisions of the Plan as it may be
amended from time to time are hereby incorporated herein by
reference. In the event of a conflict between any term or provision
contained herein and a term or provision of the Plan, the
applicable terms and provisions of the Plan will govern and
prevail.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
17.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Successors and
Assigns</font><font style="color: #000000">. The Company may assign
any of its rights under this Agreement. This Agreement will be
binding upon and inure to the benefit of the successors and assigns
of the Company. Subject to the restrictions on transfer set forth
herein, this Agreement will be binding upon the Grantee and the
Grantee&#x2019;s beneficiaries, executors, administrators and the
person(s) to whom the Restricted Stock may be transferred by will
or the laws of descent or distribution.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
18.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Severability</font><font style="color: #000000">.
The invalidity or unenforceability of any provision of the Plan or
this Agreement shall not affect the validity or enforceability of
any other provision of the Plan or this Agreement, and each
provision of the Plan and this Agreement shall be severable and
enforceable to the extent permitted by
law.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
19.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Discretionary Nature
of Plan</font><font style="color: #000000">. The Plan is
discretionary and may be amended, cancelled or terminated by the
Company at any time, in its discretion. The grant of the Restricted
Stock in this Agreement does not create any contractual right or
other right to receive any Restricted Stock or other Awards in the
future. Future Awards, if any, will be at the sole discretion of
the Company. Any amendment, modification, or termination of the
Plan shall not constitute a change or impairment of the terms and
conditions of the Grantee&#x2019;s employment with the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
20.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Amendment</font><font style="color: #000000">.
The Committee has the right to amend, alter, suspend, discontinue
or cancel the Restricted Stock, prospectively or retroactively;
provided, that, no such amendment shall adversely affect the
Grantee&#x2019;s material rights under this Agreement without the
Grantee&#x2019;s consent.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
21.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Impact on Other
Benefits</font><font style="color: #000000">. The value of the
Grantee&#x2019;s Restricted Stock is not part of his or her normal
or expected compensation for purposes of calculating any severance,
retirement, welfare, insurance or similar employee
benefit.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
22.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Counterparts</font><font style="color: #000000">.
This Agreement may be executed in counterparts, each of which shall
be deemed an original but all of which together will constitute one
and the same instrument. Counterpart signature pages to this
Agreement transmitted by facsimile transmission, by electronic mail
in portable document format (.pdf), or by any other electronic
means intended to preserve the original graphic and pictorial
appearance of a document, will have the same effect as physical
delivery of the paper document bearing an original
signature.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
23.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Acceptance</font><font style="color: #000000">.
The Grantee hereby acknowledges receipt of a copy of the Plan and
this Agreement. The Grantee has read and understands the terms and
provisions thereof, and accepts the Restricted Stock subject to all
of the terms and conditions of the Plan and this Agreement. The
Grantee acknowledges that there may be adverse tax consequences
upon the grant or vesting of the Restricted Stock or disposition of
the underlying shares and that the Grantee has been advised to
consult a tax advisor prior to such grant, vesting or
disposition.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Freedom
Holding Corp.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">&#xA0;
<font style="font-family: Times New Roman; font-size: 13px"><br>
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%;">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font> <font style="color: #000000"><font style="text-decoration: underline">/s/ Adam
R. Cook</font></font></font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Adam R. Cook</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Title:
Secretary</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Evgeniy
Ler</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10"><br></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%;">
<div style="text-align: left; margin-left: 12px; margin-right: 103px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font> <font style="color: #000000"><font style="text-decoration: underline">/s/
Evgeniy Ler</font></font></font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Evgeniy Ler</font></div>
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<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>frhc_ex1004.htm
<DESCRIPTION>LONG TERM EQUITY INCENTIVE COMPENSATION AGREEMENT, EFFECTIVE MAY 18, 2021, BETWEEN FREEDOM HOLDING CORP. AND ASKAR TASHTITOV
<TEXT>
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<title>frhc_ex1004</title>
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Exhibit 10.04</font></div>
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<font style="font-weight: bold; color: #212121; font-family: Times New Roman; font-size: 13px">
Long Term Equity Incentive Compensation Agreement</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
This Long Term Equity Incentive Compensation Agreement (this
&#x201C;</font><font style="font-weight: bold; color: #000000">Agreement</font><font style="color: #000000">&#x201D;) is made and entered into as of May 18,
2021 (the &#x201C;</font><font style="font-weight: bold; color: #000000">Grant Date</font><font style="color: #000000">&#x201D;) by and between Freedom Holding Corp., a
Nevada corporation (the &#x201C;</font><font style="font-weight: bold; color: #000000">Company</font><font style="color: #000000">&#x201D;) and Askar Tashtitov (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Grantee</font><font style="color: #000000">&#x201D;).</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Company has
adopted the Freedom Holding Corp. 2019 Equity Incentive Plan (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Plan</font><font style="color: #000000">&#x201D;) pursuant to which awards of Restricted
Stock may be granted;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, on February 15, 2021,
the compensation committee of the board of directors of the Company
(the &#x201C;Committee&#x201D;) and the board of directors of the
Company approved a compensation package for Grantee for the
Company&#x2019;s 2022 fiscal year that included long term equity
incentive compensation of up to $300,000; and</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Committee has
determined that it is in the best interests of the Company and its
shareholders that the long term equity incentive compensation be
granted in the form of an award of Restricted Stock as provided for
herein and pursuant to the Plan.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
NOW, THEREFORE, the parties hereto, intending to be legally bound,
agree as follows:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
1.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Grant of Restricted
Stock</font><font style="color: #000000">. Pursuant to Section 7.2
of the Plan, the Company hereby issues to the Grantee on the Grant
Date a Restricted Stock Award consisting of, in the aggregate,
6,621 shares of Common Stock of the Company (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Stock</font><font style="color: #000000">&#x201D;), on the terms and
conditions and subject to the restrictions set forth in this
Agreement and the Plan. Capitalized terms that are used but not
defined herein have the meaning ascribed to them in the
Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
2.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Consideration</font><font style="color: #000000">.
The grant of the Restricted Stock is made in consideration of the
services to be rendered by the Grantee to the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
3.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Period;
Vesting</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.1&#xA0;Except
as otherwise provided herein, provided that the Grantee remains in
Continuous Service through the applicable vesting date, and further
provided that any additional conditions and performance goals set
forth in this Section 3 have been satisfied, the Restricted Stock
will vest in accordance with the following schedule:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Vesting Date</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Shares of Common Stock</font></div>
</td>
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<td style="vertical-align: top; width: 50%">
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">March
31, 2022</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">100%
of the aggregate Restricted Stock</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">The period over which the Restricted Stock vests
is referred to as the &#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Period</font><font style="color: #000000">&#x201D;.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.2&#xA0;&#xA0;The
foregoing vesting schedule notwithstanding, if the Grantee&#x2019;s
Continuous Service terminates for any reason at any time before all
of his or her Restricted Stock has vested, the Grantee&#x2019;s
unvested Restricted Stock shall be automatically forfeited upon
such termination of Continuous Service and neither the Company nor
any Affiliate shall have any further obligations to the Grantee
under this Agreement, unless otherwise determined by the
Committee.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;3.3
Unless otherwise determined by the Committee at the time of a
Change in Control, a Change in Control shall have no effect on the
Restricted Stock.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
4.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restrictions</font><font style="color: #000000">.
Subject to any exceptions set forth in this Agreement or the Plan,
during the Restricted Period, the Restricted Stock or the rights
relating thereto may not be assigned, alienated, pledged, attached,
sold or otherwise transferred or encumbered by the Grantee. Any
attempt to assign, alienate, pledge, attach, sell or otherwise
transfer or encumber the Restricted Stock or the rights relating
thereto during the Restricted Period shall be wholly ineffective
and, if any such attempt is made, the Restricted Stock will be
forfeited by the Grantee and all of the Grantee&#x2019;s rights to
such shares shall immediately terminate without any payment or
consideration by the Company.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
5.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Rights as Shareholder;
Dividends</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.1&#xA0;The
Grantee shall be the record owner of the Restricted Stock until the
shares of Common Stock are sold or otherwise disposed of, and shall
be entitled to all of the rights of a shareholder of the Company
including, without limitation, the right to vote such shares and
receive all dividends or other distributions paid with respect to
such shares. Notwithstanding the foregoing, any dividends or other
distributions shall be subject to the same restrictions on
transferability as the shares of Restricted Stock with respect to
which they were paid.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.2&#xA0;&#xA0;The
Company may issue stock certificates or evidence the
Grantee&#x2019;s interest by using a restricted book entry account
with the Company&#x2019;s transfer agent. Physical possession or
custody of any stock certificates that are issued shall be retained
by the Company until such time as the Restricted Stock
vests.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.3&#xA0;&#xA0;If
the Grantee forfeits any rights he or she has under this Agreement
in accordance with Section 3, the Grantee shall, on the date of
such forfeiture, no longer have any rights as a shareholder with
respect to the Restricted Stock forfeited and shall no longer be
entitled to vote or receive dividends on such
shares.&#x200C;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
6.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Right to Continued
Service</font><font style="color: #000000">. Neither the Plan nor
this Agreement shall confer upon the Grantee any right to be
retained in any position, as an Employee, Consultant or Director of
the Company. Further, nothing in the Plan or this Agreement shall
be construed to limit the discretion of the Company to terminate
the Grantee&#x2019;s Continuous Service at any time, with or without
Cause.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
7.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Adjustments</font><font style="color: #000000">.
If any change is made to the outstanding Common Stock or the
capital structure of the Company, if required, the shares of Common
Stock shall be adjusted or terminated in any manner as contemplated
by Section 11 of the Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
8.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Tax Liability and
Withholding</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;8.1&#xA0;The
Grantee shall be required to pay to the Company, and the Company
shall have the right to deduct from any compensation paid to the
Grantee pursuant to the Plan, the amount of any required
withholding taxes in respect of the Restricted Stock and to take
all such other action as the Committee deems necessary to satisfy
all obligations for the payment of such withholding taxes. The
Committee may permit the Grantee to satisfy any federal, state or
local tax withholding obligation by any of the following means, or
by a combination of such means:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;tendering
a cash payment.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;authorizing
the Company to withhold shares of Common Stock from the shares of
Common Stock otherwise issuable or deliverable to the Grantee as a
result of the vesting of the Restricted Stock; provided, however,
that no shares of Common Stock shall be withheld with a value
exceeding the maximum amount of tax required to be withheld by
law.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;delivering
to the Company previously owned and unencumbered shares of Common
Stock.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#xA0;&#xA0;&#xA0;&#xA0;8.2&#xA0;&#xA0;Notwithstanding
any action the Company takes with respect to any or all income tax,
social insurance, payroll tax, or other tax-related withholding
(&#x201D;</font><font style="font-weight: bold; color: #000000">Tax-Related
Items</font><font style="color: #000000">&#x201D;), the ultimate
liability for all Tax-Related Items is and remains the
Grantee&#x2019;s responsibility and the Company (a) makes no
representation or undertakings regarding the treatment of any
Tax-Related Items in connection with the grant or vesting of the
Restricted Stock or the subsequent sale of any shares; and (b) does
not commit to structure the Restricted Stock to reduce or eliminate
the Grantee&#x2019;s liability for Tax-Related
Items.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
9.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Section 83(b)
Election</font><font style="color: #000000">. The Grantee may make
an election under Code Section 83(b) (a &#x201C;</font><font style="font-weight: bold; color: #000000">Section 83(b)
Election</font><font style="color: #000000">&#x201D;) with respect
to the Restricted Stock. Any such election must be made within
thirty (30) days after the Grant Date. If the Grantee elects to
make a Section 83(b) Election, the Grantee shall provide the
Company with a copy of an executed version and satisfactory
evidence of the filing of the executed Section 83(b) Election with
the US Internal Revenue Service. The Grantee agrees to assume full
responsibility for ensuring that the Section 83(b) Election is
actually and timely filed with the US Internal Revenue Service and
for all tax consequences resulting from the Section 83(b)
Election.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x200C;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
10.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Non-competition and
Non-solicitation</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.1&#xA0;&#xA0;In
consideration of the Restricted Stock, the Grantee agrees and
covenants not to:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;contribute
his or her knowledge, directly or indirectly, in whole or in part,
as an employee, officer, owner, manager, advisor, consultant,
agent, partner, director, shareholder, volunteer, intern or in any
other similar capacity to an entity engaged in the same or similar
business as the Company and its Affiliates, including those engaged
in the business of financial services for a period of one year
following the Grantee&#x2019;s termination of Continuous
Service;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;directly
or indirectly, solicit, hire, recruit, attempt to hire or recruit,
or induce the termination of employment of any employee of the
Company or its Affiliates for two years following the
Grantee&#x2019;s termination of Continuous Service;
or&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;directly
or indirectly, solicit, contact (including, but not limited to,
e-mail, regular mail, express mail, telephone, and instant
message), attempt to contact or meet with the current, former or
prospective customers of the Company or any of its Affiliates for
purposes of offering or accepting goods or services similar to or
competitive with those offered by the Company or any of its
Affiliates for a period of one year following the Grantee&#x2019;s
termination of Continuous Service.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.2&#xA0;&#xA0;If
the Grantee breaches any of the covenants set forth in Section
10.1:&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;all
unvested Restricted Stock shall be immediately forfeited;
and&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;the
Grantee hereby consents and agrees that the Company shall be
entitled to seek, in addition to other available remedies, a
temporary or permanent injunction or other equitable relief against
such breach or threatened breach from any court of competent
jurisdiction, without the necessity of showing any actual damages
or that money damages would not afford an adequate remedy, and
without the necessity of posting any bond or other security. The
aforementioned equitable relief shall be in addition to, not in
lieu of, legal remedies, monetary damages or other available forms
of relief.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
11.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Compliance with
Law</font><font style="color: #000000">. The issuance and transfer
of shares of Common Stock shall be subject to compliance by the
Company and the Grantee with all applicable requirements of federal
and state securities laws and with all applicable requirements of
any stock exchange on which the Company&#x2019;s shares of Common
Stock may be listed. No shares of Common Stock shall be issued or
transferred unless and until any then applicable requirements of
state and federal laws and regulatory agencies have been fully
complied with to the satisfaction of the Company and its counsel.
The Grantee understands that the Company is under no obligation to
register the shares of Common Stock with the Securities and
Exchange Commission, any state securities commission, any stock
exchange or any foreign securities regulatory authority to effect
such compliance.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
12.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Legends</font><font style="color: #000000">.
A legend may be placed on any certificate(s) or other document(s)
delivered to the Grantee indicating restrictions on transferability
of the shares of Restricted Stock pursuant to this Agreement or any
other restrictions that the Committee may deem advisable under the
rules, regulations and other requirements of the Securities and
Exchange Commission, any applicable federal or state securities
laws or any stock exchange on which the shares of Common Stock are
then listed or quoted.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
13.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Notices</font><font style="color: #000000">.
Any notice required to be delivered to the Company under this
Agreement shall be in writing and addressed to the Secretary of the
Company at the Company&#x2019;s principal corporate offices. Any
notice required to be delivered to the Grantee under this Agreement
shall be in writing and addressed to the Grantee at the
Grantee&#x2019;s address as shown in the records of the Company.
Either party may designate another address in writing (or by such
other method approved by the Company) from time to
time.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
14.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Governing
Law</font><font style="color: #000000">. This Agreement will be
construed and interpreted in accordance with the laws of the State
of Nevada without regard to conflict of law
principles.&#x200C;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
15.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Interpretation</font><font style="color: #000000">.
Any dispute regarding the interpretation of this Agreement shall be
submitted by the Grantee or the Company to the Committee for
review. The resolution of such dispute by the Committee shall be
final and binding on the Grantee and the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
16.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Stock
Subject to Plan</font><font style="color: #000000">. This Agreement
is subject to the Plan as approved by the Company&#x2019;s
shareholders. The terms and provisions of the Plan as it may be
amended from time to time are hereby incorporated herein by
reference. In the event of a conflict between any term or provision
contained herein and a term or provision of the Plan, the
applicable terms and provisions of the Plan will govern and
prevail.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
17.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Successors and
Assigns</font><font style="color: #000000">. The Company may assign
any of its rights under this Agreement. This Agreement will be
binding upon and inure to the benefit of the successors and assigns
of the Company. Subject to the restrictions on transfer set forth
herein, this Agreement will be binding upon the Grantee and the
Grantee&#x2019;s beneficiaries, executors, administrators and the
person(s) to whom the Restricted Stock may be transferred by will
or the laws of descent or distribution.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
18.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Severability</font><font style="color: #000000">.
The invalidity or unenforceability of any provision of the Plan or
this Agreement shall not affect the validity or enforceability of
any other provision of the Plan or this Agreement, and each
provision of the Plan and this Agreement shall be severable and
enforceable to the extent permitted by
law.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
19.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Discretionary Nature
of Plan</font><font style="color: #000000">. The Plan is
discretionary and may be amended, cancelled or terminated by the
Company at any time, in its discretion. The grant of the Restricted
Stock in this Agreement does not create any contractual right or
other right to receive any Restricted Stock or other Awards in the
future. Future Awards, if any, will be at the sole discretion of
the Company. Any amendment, modification, or termination of the
Plan shall not constitute a change or impairment of the terms and
conditions of the Grantee&#x2019;s employment with the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
20.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Amendment</font><font style="color: #000000">.
The Committee has the right to amend, alter, suspend, discontinue
or cancel the Restricted Stock, prospectively or retroactively;
provided, that, no such amendment shall adversely affect the
Grantee&#x2019;s material rights under this Agreement without the
Grantee&#x2019;s consent.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
21.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Impact on Other
Benefits</font><font style="color: #000000">. The value of the
Grantee&#x2019;s Restricted Stock is not part of his or her normal
or expected compensation for purposes of calculating any severance,
retirement, welfare, insurance or similar employee
benefit.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
22.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Counterparts</font><font style="color: #000000">.
This Agreement may be executed in counterparts, each of which shall
be deemed an original but all of which together will constitute one
and the same instrument. Counterpart signature pages to this
Agreement transmitted by facsimile transmission, by electronic mail
in portable document format (.pdf), or by any other electronic
means intended to preserve the original graphic and pictorial
appearance of a document, will have the same effect as physical
delivery of the paper document bearing an original
signature.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
23.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Acceptance</font><font style="color: #000000">.
The Grantee hereby acknowledges receipt of a copy of the Plan and
this Agreement. The Grantee has read and understands the terms and
provisions thereof, and accepts the Restricted Stock subject to all
of the terms and conditions of the Plan and this Agreement. The
Grantee acknowledges that there may be adverse tax consequences
upon the grant or vesting of the Restricted Stock or disposition of
the underlying shares and that the Grantee has been advised to
consult a tax advisor prior to such grant, vesting or
disposition.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Freedom
Holding Corp.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%;">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font> <font style="color: #000000"><font style="text-decoration: underline">/s/ Adam
R. Cook</font></font></font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Adam R. Cook</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Title:
Secretary</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Grantee</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%;">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font></font> <font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">/s/ Askar Tashtitov</font></font></font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Askar Tashtitov</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>frhc_ex1005.htm
<DESCRIPTION>LONG TERM EQUITY INCENTIVE COMPENSATION AGREEMENT, EFFECTIVE MAY 18, 2021, BETWEEN FREEDOM HOLDING CORP. AND EVGENIY LER
<TEXT>
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<title>frhc_ex1005</title>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit 10.05</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #212121; font-family: Times New Roman; font-size: 13px">
Long Term Equity Incentive Compensation Agreement</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
This Long Term Equity Incentive Compensation Agreement (this
&#x201C;</font><font style="font-weight: bold; color: #000000">Agreement</font><font style="color: #000000">&#x201D;) is made and entered into as of May 18,
2021 (the &#x201C;</font><font style="font-weight: bold; color: #000000">Grant Date</font><font style="color: #000000">&#x201D;) by and between Freedom Holding Corp., a
Nevada corporation (the &#x201C;</font><font style="font-weight: bold; color: #000000">Company</font><font style="color: #000000">&#x201D;) and Evgeniy Ler (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Grantee</font><font style="color: #000000">&#x201D;).</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Company has
adopted the Freedom Holding Corp. 2019 Equity Incentive Plan (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Plan</font><font style="color: #000000">&#x201D;) pursuant to which awards of Restricted
Stock may be granted;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, on February 15, 2021,
the compensation committee of the board of directors of the Company
(the &#x201C;Committee&#x201D;) and the board of directors of the
Company approved a compensation package for Grantee for the
Company&#x2019;s 2022 fiscal year that included long term equity
incentive compensation of up to $300,000; and</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
WHEREAS</font><font style="color: #000000">, the Committee has
determined that it is in the best interests of the Company and its
shareholders that the long term equity incentive compensation be
granted in the form of an award of Restricted Stock as provided for
herein and pursuant to the Plan.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
NOW, THEREFORE, the parties hereto, intending to be legally bound,
agree as follows:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
1.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Grant of Restricted
Stock</font><font style="color: #000000">. Pursuant to Section 7.2
of the Plan, the Company hereby issues to the Grantee on the Grant
Date a Restricted Stock Award consisting of, in the aggregate,
6,621 shares of Common Stock of the Company (the
&#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Stock</font><font style="color: #000000">&#x201D;), on the terms and
conditions and subject to the restrictions set forth in this
Agreement and the Plan. Capitalized terms that are used but not
defined herein have the meaning ascribed to them in the
Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
2.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Consideration</font><font style="color: #000000">.
The grant of the Restricted Stock is made in consideration of the
services to be rendered by the Grantee to the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
3.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Period;
Vesting</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.1&#xA0;Except
as otherwise provided herein, provided that the Grantee remains in
Continuous Service through the applicable vesting date, and further
provided that any additional conditions and performance goals set
forth in this Section 3 have been satisfied, the Restricted Stock
will vest in accordance with the following schedule:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
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<tr>
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<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Vesting Date</font></div>
</td>
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<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Shares of Common Stock</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">March
31, 2022</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">100%
of the aggregate Restricted Stock</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 50%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
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</div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">The period over which the Restricted Stock vests
is referred to as the &#x201C;</font><font style="font-weight: bold; color: #000000">Restricted
Period</font><font style="color: #000000">&#x201D;.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;3.2&#xA0;&#xA0;The
foregoing vesting schedule notwithstanding, if the Grantee&#x2019;s
Continuous Service terminates for any reason at any time before all
of his or her Restricted Stock has vested, the Grantee&#x2019;s
unvested Restricted Stock shall be automatically forfeited upon
such termination of Continuous Service and neither the Company nor
any Affiliate shall have any further obligations to the Grantee
under this Agreement, unless otherwise determined by the
Committee.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;3.3
Unless otherwise determined by the Committee at the time of a
Change in Control, a Change in Control shall have no effect on the
Restricted Stock.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
4.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restrictions</font><font style="color: #000000">.
Subject to any exceptions set forth in this Agreement or the Plan,
during the Restricted Period, the Restricted Stock or the rights
relating thereto may not be assigned, alienated, pledged, attached,
sold or otherwise transferred or encumbered by the Grantee. Any
attempt to assign, alienate, pledge, attach, sell or otherwise
transfer or encumber the Restricted Stock or the rights relating
thereto during the Restricted Period shall be wholly ineffective
and, if any such attempt is made, the Restricted Stock will be
forfeited by the Grantee and all of the Grantee&#x2019;s rights to
such shares shall immediately terminate without any payment or
consideration by the Company.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
5.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Rights as Shareholder;
Dividends</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.1&#xA0;The
Grantee shall be the record owner of the Restricted Stock until the
shares of Common Stock are sold or otherwise disposed of, and shall
be entitled to all of the rights of a shareholder of the Company
including, without limitation, the right to vote such shares and
receive all dividends or other distributions paid with respect to
such shares. Notwithstanding the foregoing, any dividends or other
distributions shall be subject to the same restrictions on
transferability as the shares of Restricted Stock with respect to
which they were paid.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.2&#xA0;&#xA0;The
Company may issue stock certificates or evidence the
Grantee&#x2019;s interest by using a restricted book entry account
with the Company&#x2019;s transfer agent. Physical possession or
custody of any stock certificates that are issued shall be retained
by the Company until such time as the Restricted Stock
vests.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;5.3&#xA0;&#xA0;If
the Grantee forfeits any rights he or she has under this Agreement
in accordance with Section 3, the Grantee shall, on the date of
such forfeiture, no longer have any rights as a shareholder with
respect to the Restricted Stock forfeited and shall no longer be
entitled to vote or receive dividends on such
shares.&#x200C;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
6.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Right to Continued
Service</font><font style="color: #000000">. Neither the Plan nor
this Agreement shall confer upon the Grantee any right to be
retained in any position, as an Employee, Consultant or Director of
the Company. Further, nothing in the Plan or this Agreement shall
be construed to limit the discretion of the Company to terminate
the Grantee&#x2019;s Continuous Service at any time, with or without
Cause.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
7.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Adjustments</font><font style="color: #000000">.
If any change is made to the outstanding Common Stock or the
capital structure of the Company, if required, the shares of Common
Stock shall be adjusted or terminated in any manner as contemplated
by Section 11 of the Plan.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
8.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Tax Liability and
Withholding</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;8.1&#xA0;The
Grantee shall be required to pay to the Company, and the Company
shall have the right to deduct from any compensation paid to the
Grantee pursuant to the Plan, the amount of any required
withholding taxes in respect of the Restricted Stock and to take
all such other action as the Committee deems necessary to satisfy
all obligations for the payment of such withholding taxes. The
Committee may permit the Grantee to satisfy any federal, state or
local tax withholding obligation by any of the following means, or
by a combination of such means:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;tendering
a cash payment.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;authorizing
the Company to withhold shares of Common Stock from the shares of
Common Stock otherwise issuable or deliverable to the Grantee as a
result of the vesting of the Restricted Stock; provided, however,
that no shares of Common Stock shall be withheld with a value
exceeding the maximum amount of tax required to be withheld by
law.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;delivering
to the Company previously owned and unencumbered shares of Common
Stock.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#xA0;&#xA0;&#xA0;&#xA0;8.2&#xA0;&#xA0;Notwithstanding
any action the Company takes with respect to any or all income tax,
social insurance, payroll tax, or other tax-related withholding
(&#x201D;</font><font style="font-weight: bold; color: #000000">Tax-Related
Items</font><font style="color: #000000">&#x201D;), the ultimate
liability for all Tax-Related Items is and remains the
Grantee&#x2019;s responsibility and the Company (a) makes no
representation or undertakings regarding the treatment of any
Tax-Related Items in connection with the grant or vesting of the
Restricted Stock or the subsequent sale of any shares; and (b) does
not commit to structure the Restricted Stock to reduce or eliminate
the Grantee&#x2019;s liability for Tax-Related
Items.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
9.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Section 83(b)
Election</font><font style="color: #000000">. The Grantee may make
an election under Code Section 83(b) (a &#x201C;</font><font style="font-weight: bold; color: #000000">Section 83(b)
Election</font><font style="color: #000000">&#x201D;) with respect
to the Restricted Stock. Any such election must be made within
thirty (30) days after the Grant Date. If the Grantee elects to
make a Section 83(b) Election, the Grantee shall provide the
Company with a copy of an executed version and satisfactory
evidence of the filing of the executed Section 83(b) Election with
the US Internal Revenue Service. The Grantee agrees to assume full
responsibility for ensuring that the Section 83(b) Election is
actually and timely filed with the US Internal Revenue Service and
for all tax consequences resulting from the Section 83(b)
Election.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x200C;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
10.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Non-competition and
Non-solicitation</font><font style="color: #000000">.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.1&#xA0;&#xA0;In
consideration of the Restricted Stock, the Grantee agrees and
covenants not to:</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;contribute
his or her knowledge, directly or indirectly, in whole or in part,
as an employee, officer, owner, manager, advisor, consultant,
agent, partner, director, shareholder, volunteer, intern or in any
other similar capacity to an entity engaged in the same or similar
business as the Company and its Affiliates, including those engaged
in the business of financial services for a period of one year
following the Grantee&#x2019;s termination of Continuous
Service;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><br></font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;directly
or indirectly, solicit, hire, recruit, attempt to hire or recruit,
or induce the termination of employment of any employee of the
Company or its Affiliates for two years following the
Grantee&#x2019;s termination of Continuous Service;
or&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;directly
or indirectly, solicit, contact (including, but not limited to,
e-mail, regular mail, express mail, telephone, and instant
message), attempt to contact or meet with the current, former or
prospective customers of the Company or any of its Affiliates for
purposes of offering or accepting goods or services similar to or
competitive with those offered by the Company or any of its
Affiliates for a period of one year following the Grantee&#x2019;s
termination of Continuous Service.&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;&#xA0;10.2&#xA0;&#xA0;If
the Grantee breaches any of the covenants set forth in Section
10.1:&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;all
unvested Restricted Stock shall be immediately forfeited;
and&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;the
Grantee hereby consents and agrees that the Company shall be
entitled to seek, in addition to other available remedies, a
temporary or permanent injunction or other equitable relief against
such breach or threatened breach from any court of competent
jurisdiction, without the necessity of showing any actual damages
or that money damages would not afford an adequate remedy, and
without the necessity of posting any bond or other security. The
aforementioned equitable relief shall be in addition to, not in
lieu of, legal remedies, monetary damages or other available forms
of relief.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
11.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Compliance with
Law</font><font style="color: #000000">. The issuance and transfer
of shares of Common Stock shall be subject to compliance by the
Company and the Grantee with all applicable requirements of federal
and state securities laws and with all applicable requirements of
any stock exchange on which the Company&#x2019;s shares of Common
Stock may be listed. No shares of Common Stock shall be issued or
transferred unless and until any then applicable requirements of
state and federal laws and regulatory agencies have been fully
complied with to the satisfaction of the Company and its counsel.
The Grantee understands that the Company is under no obligation to
register the shares of Common Stock with the Securities and
Exchange Commission, any state securities commission, any stock
exchange or any foreign securities regulatory authority to effect
such compliance.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
12.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Legends</font><font style="color: #000000">.
A legend may be placed on any certificate(s) or other document(s)
delivered to the Grantee indicating restrictions on transferability
of the shares of Restricted Stock pursuant to this Agreement or any
other restrictions that the Committee may deem advisable under the
rules, regulations and other requirements of the Securities and
Exchange Commission, any applicable federal or state securities
laws or any stock exchange on which the shares of Common Stock are
then listed or quoted.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
13.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Notices</font><font style="color: #000000">.
Any notice required to be delivered to the Company under this
Agreement shall be in writing and addressed to the Secretary of the
Company at the Company&#x2019;s principal corporate offices. Any
notice required to be delivered to the Grantee under this Agreement
shall be in writing and addressed to the Grantee at the
Grantee&#x2019;s address as shown in the records of the Company.
Either party may designate another address in writing (or by such
other method approved by the Company) from time to
time.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
14.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Governing
Law</font><font style="color: #000000">. This Agreement will be
construed and interpreted in accordance with the laws of the State
of Nevada without regard to conflict of law
principles.&#x200C;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
15.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Interpretation</font><font style="color: #000000">.
Any dispute regarding the interpretation of this Agreement shall be
submitted by the Grantee or the Company to the Committee for
review. The resolution of such dispute by the Committee shall be
final and binding on the Grantee and the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
16.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Restricted Stock
Subject to Plan</font><font style="color: #000000">. This Agreement
is subject to the Plan as approved by the Company&#x2019;s
shareholders. The terms and provisions of the Plan as it may be
amended from time to time are hereby incorporated herein by
reference. In the event of a conflict between any term or provision
contained herein and a term or provision of the Plan, the
applicable terms and provisions of the Plan will govern and
prevail.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
17.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Successors and
Assigns</font><font style="color: #000000">. The Company may assign
any of its rights under this Agreement. This Agreement will be
binding upon and inure to the benefit of the successors and assigns
of the Company. Subject to the restrictions on transfer set forth
herein, this Agreement will be binding upon the Grantee and the
Grantee&#x2019;s beneficiaries, executors, administrators and the
person(s) to whom the Restricted Stock may be transferred by will
or the laws of descent or distribution.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
18.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Severability</font><font style="color: #000000">.
The invalidity or unenforceability of any provision of the Plan or
this Agreement shall not affect the validity or enforceability of
any other provision of the Plan or this Agreement, and each
provision of the Plan and this Agreement shall be severable and
enforceable to the extent permitted by
law.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
19.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Discretionary Nature
of Plan</font><font style="color: #000000">. The Plan is
discretionary and may be amended, cancelled or terminated by the
Company at any time, in its discretion. The grant of the Restricted
Stock in this Agreement does not create any contractual right or
other right to receive any Restricted Stock or other Awards in the
future. Future Awards, if any, will be at the sole discretion of
the Company. Any amendment, modification, or termination of the
Plan shall not constitute a change or impairment of the terms and
conditions of the Grantee&#x2019;s employment with the
Company.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
20.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Amendment</font><font style="color: #000000">.
The Committee has the right to amend, alter, suspend, discontinue
or cancel the Restricted Stock, prospectively or retroactively;
provided, that, no such amendment shall adversely affect the
Grantee&#x2019;s material rights under this Agreement without the
Grantee&#x2019;s consent.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
21.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">No Impact on Other
Benefits</font><font style="color: #000000">. The value of the
Grantee&#x2019;s Restricted Stock is not part of his or her normal
or expected compensation for purposes of calculating any severance,
retirement, welfare, insurance or similar employee
benefit.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
22.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Counterparts</font><font style="color: #000000">.
This Agreement may be executed in counterparts, each of which shall
be deemed an original but all of which together will constitute one
and the same instrument. Counterpart signature pages to this
Agreement transmitted by facsimile transmission, by electronic mail
in portable document format (.pdf), or by any other electronic
means intended to preserve the original graphic and pictorial
appearance of a document, will have the same effect as physical
delivery of the paper document bearing an original
signature.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
23.&#xA0;&#xA0;</font><font style="text-decoration: underline; color: #000000">Acceptance</font><font style="color: #000000">.
The Grantee hereby acknowledges receipt of a copy of the Plan and
this Agreement. The Grantee has read and understands the terms and
provisions thereof, and accepts the Restricted Stock subject to all
of the terms and conditions of the Plan and this Agreement. The
Grantee acknowledges that there may be adverse tax consequences
upon the grant or vesting of the Restricted Stock or disposition of
the underlying shares and that the Grantee has been advised to
consult a tax advisor prior to such grant, vesting or
disposition.&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Freedom
Holding Corp.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%;">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font> <font style="color: #000000"><font style="text-decoration: underline">/s/ Adam
R. Cook</font></font></font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Adam R. Cook</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Title:
Secretary</font></div>
<br></td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Grantee</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%;">
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font></font> <font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">/s/ Evgeniy Ler</font></font></font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Evgeniy Ler</font></div>
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<TYPE>EX-101.SCH
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<FILENAME>frhc-20211231.xsd
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<schema targetNamespace="http://www.freedomholdingcorp.com/20211231" elementFormDefault="qualified" attributeFormDefault="unqualified" xmlns:frhc="http://www.freedomholdingcorp.com/20211231" xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xs="http://www.w3.org/2001/XMLSchema" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:srt-types="http://fasb.org/srt-types/2020-01-31" xmlns:enum="http://xbrl.org/2014/extensible-enumerations" xmlns:us-gaap="http://fasb.org/us-gaap/2020-01-31" xmlns:us-types="http://fasb.org/us-types/2020-01-31" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://www.w3.org/2001/XMLSchema">
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<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
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		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
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		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" />
		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
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		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
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		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
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		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
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		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
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		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
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		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_WrittenCommunications" xlink:label="loc_dei_WrittenCommunications" />
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		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SolicitingMaterial" xlink:label="loc_dei_SolicitingMaterial" />
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" />
		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
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		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" />
		<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_dei_PreCommencementIssuerTenderOffer" />
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.21.1</span><table class="report" border="0" cellspacing="2" id="idm139635610486664">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>May 18, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_frhc_DocumentAndEntityInformationAbstract', window );"><strong>Document and Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000924805<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">May 18,  2021<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">FREEDOM
HOLDING CORP.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">NV<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-33034<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">
30-0233726<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">
77/7 Al Farabi Ave., &#8220;Esentai Tower&#8221; BC, Floor
7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Almaty<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">KZ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">050040<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">7
727<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">311 10
64<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">FRHC<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCountry">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>ISO 3166-1 alpha-2 country code.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCountry</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:countryCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_frhc_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Document And Entity Information Abstract</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">frhc_DocumentAndEntityInformationAbstract</td>
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<td>frhc_</td>
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<td>xbrli:stringItemType</td>
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<td>na</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
