<SEC-DOCUMENT>0001171843-19-002720.txt : 20190429
<SEC-HEADER>0001171843-19-002720.hdr.sgml : 20190429
<ACCEPTANCE-DATETIME>20190429164616
ACCESSION NUMBER:		0001171843-19-002720
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20190429
DATE AS OF CHANGE:		20190429
EFFECTIVENESS DATE:		20190429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIOCRYST PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0000882796
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				621413174
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-231108
		FILM NUMBER:		19776601

	BUSINESS ADDRESS:	
		STREET 1:		4505 EMPEROR BOULEVARD
		STREET 2:		SUITE 200
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27703
		BUSINESS PHONE:		919-859-1302

	MAIL ADDRESS:	
		STREET 1:		4505 EMPEROR BOULEVARD
		STREET 2:		SUITE 200
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27703
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>s8_042919.htm
<DESCRIPTION>S-8
<TEXT>
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>As filed with the Securities and Exchange Commission on
April 29, 2019</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Registration No. 333-</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>FORM S-8</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>BIOCRYST PHARMACEUTICALS,
INC.</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>(Exact Name of Registrant as Specified in its Charter)</I></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt"><B>62-1413174</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><I>(State of Incorporation)</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><I>(I.R.S. Employer Identification No.)</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>4505 Emperor Blvd., Suite 200</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Durham, North Carolina</B></P></TD>
    <TD STYLE="text-align: center"><BR>
<FONT STYLE="font-size: 10pt"><B>27703</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><I>(Address of Principal Executive Offices)</I></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><I>(Zip Code)</I></FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Inducement Equity Incentive Plan</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>(Full Title of the Plan)</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>&nbsp;</I></P>

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<P STYLE="font-size: 10pt; text-align: center; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Jon P. Stonehouse</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>President and Chief Executive Officer</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>BioCryst Pharmaceuticals, Inc.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>4505 Emperor Blvd., Suite 200</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Durham, North Carolina 27703</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>(Name and Address of Agent for Service)</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>(919) 859-1302</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>(Telephone Number, Including Area Code, of Agent for Service)</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>Copies to:</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Brian Lane, Esq.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Robyn Zolman, Esq.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Gibson, Dunn and Crutcher LLP</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>1050 Connecticut Ave. N.W.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, DC 20036</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>(202) 955-8500</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">I</FONT>ndicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth
company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting
company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 51%"><FONT STYLE="font-size: 10pt">Large accelerated filer &#9744;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-size: 10pt">Accelerated filer &#9746;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Non-accelerated filer &#9744;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Smaller reporting company &#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Emerging growth company &#9744;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If an emerging growth company, indicate 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 7(a)(2)(B) of the Securities Act. &#9744;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 1.5in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: center; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>CALCULATION OF REGISTRATION
FEE</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 2.25pt double; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title of Securities</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>to be Registered</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount to be</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Registered (1)</B></FONT></TD>
    <TD STYLE="width: 20%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed Maximum</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Offering Price Per Share (2)</B></FONT></TD>
    <TD STYLE="width: 20%; border-top: black 2.25pt double; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed Maximum</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Aggregate Offering Price (2)</B></FONT></TD>
    <TD STYLE="width: 20%; border-top: black 2.25pt double; border-right: black 2.25pt double; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount of</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Registration Fee (2)</B></FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; border-left: black 2.25pt double; border-bottom: black 2.25pt double; border-right: black 1pt solid"><FONT STYLE="font-size: 10pt">Common Stock, $0.01 par value</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double; border-right: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1,500,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double; border-right: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$8.17</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double; border-right: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$12,255,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double; border-right: black 2.25pt double; text-align: center"><FONT STYLE="font-size: 10pt">$1,485.31</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Pursuant to Rule 416(a) under the Securities Act of 1933, this Registration Statement shall also cover any additional shares of Common Stock which become issuable by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the receipt of consideration which results in an increase in the number of the Registrant&rsquo;s outstanding shares of Common Stock.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) under the Securities Act of 1933, as amended, based upon the average of the high and low prices of the Registrant&rsquo;s Common Stock on April 23, 2019, as reported on The Nasdaq Global Select Market.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>PART I</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>INFORMATION REQUIRED IN
THE SECTION 10(</B></FONT><B>a<FONT STYLE="text-transform: uppercase">) Prospectus</FONT></B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Documents containing the information specified in Part I of Form
S-8 have been and/or will be sent or given to employees as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;). In accordance with the instructions of Part&nbsp;I of Form S-8, such documents will not be
filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) either as part of this Registration Statement
or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents and the documents incorporated
by reference pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute the prospectus as required
by Section 10(a) of the Securities Act.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>PART II</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 3. Incorporation of Documents by Reference.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">The following documents filed by BioCryst Pharmaceuticals, Inc. (the
&ldquo;Registrant&rdquo;) with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange
Act&rdquo;), are incorporated by reference in this Registration Statement:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Registrant&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the Commission on March 14,
2019;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Registrant&rsquo;s Current Reports on Form 8-K filed with the Commission on January 2, 2019, January 4, 2019, and February
6, 2019;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Registration Statement No. 0-23186 on Form 8-A filed with the Commission on January 7, 1994, together with the amendment thereto
filed with the Commission on March 14, 1994, pursuant to Section 12 of the Exchange Act, in which there is described the terms,
rights and provisions applicable to the Registrant&rsquo;s outstanding Common Stock.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">All reports and other documents subsequently filed with the Commission
by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective
amendment which indicates that all securities offered herein have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of
filing of such documents, excluding any information furnished under Item 7.01 or Item 2.02 of any Current Report on Form 8-K (and
corresponding information furnished under Item 9.01 or included as an exhibit thereto). Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this Registration
Statement to the extent that a statement contained herein or in any other subsequently filed document that also is or is deemed
to be incorporated by reference herein modifies or replaces such statement. Any statement so modified or superseded shall not be
deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 4. Description of Securities.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Not applicable.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 5. Interests of Named Experts and Counsel.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Not applicable.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 6. Indemnification of Directors and Officers.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Section 145 of the Delaware General Corporation Law (the &ldquo;DGCL&rdquo;)
sets forth the circumstances in which a Delaware corporation is permitted and/or required to indemnify its directors and officers.
The DGCL permits a corporation to indemnify its directors and officers in certain proceedings if the director or officer has complied
with the standard of conduct set out in the DGCL. The standard of conduct requires that the director or officer must have acted
in good faith, in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation, and,
with respect to matters in a criminal proceeding, the director or officer must have had no reason to believe that his or her conduct
was unlawful. With respect to suits by or in the right of the corporation, the DGCL permits indemnification of directors and officers
if the person meets the standard of conduct, except that it precludes indemnification of directors and officers who are adjudged
liable to the corporation, unless the Court of Chancery or the court in which the corporation&rsquo;s action or suit was brought
determines that the director or officer is fairly and reasonably entitled to indemnity for expenses. To the extent that a present
or former director or officer of the corporation is successful on the merits or otherwise in his or her defense of a proceeding,
the corporation is required to indemnify the director or officer against reasonable expenses incurred in defending himself or herself.
The rights provided in Section 145 of the DGCL are not exclusive, and the corporation may also provide for indemnification under
bylaw, agreement, vote of stockholders or disinterested directors or otherwise.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">The Registrant&rsquo;s Third Restated Certificate of Incorporation,
as amended (the &ldquo;Certificate of Incorporation&rdquo;), provides for indemnification of any director or officer who was or
is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that he is or was, or has agreed to become, a director or officer
of the Registrant, or is or was serving, or agreed to serve, at the request of the Registrant, as a director, officer or trustee
of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise (including any employee
benefit plan), or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses (including
attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or on his behalf
in connection with such action, suit or proceeding and any appeal therefrom, in each case to the fullest extent permitted by the
DGCL. The Registrant shall not indemnify any person seeking indemnification in connection with a proceeding or part thereof initiated
by such person unless the initiation was approved by the Board of Directors of the Registrant. The Certificate of Incorporation
further provides for permissible indemnification of employees and other agents to the maximum extent permitted by the Delaware
General Corporation Law and the Certificate of Incorporation with respect to directors and officers.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Section 102(b)(7) of the DGCL provides that a corporation may relieve
its directors from personal liability to the corporation or its stockholders for monetary damages for any breach of their fiduciary
duty as directors except for (i) a breach of the duty of loyalty; (ii) acts or omissions not in good faith or that involve intentional
misconduct or a knowing violation of law; (iii) willful or negligent violations of certain provisions in the DGCL imposing certain
requirements with respect to stock repurchases, redemptions and dividends; or (iv) for any transactions from which the director
derived an improper personal benefit. The Registrant&rsquo;s Certificate of Incorporation provides that no directors of the Registrant
shall be liable to the Registrant or its stockholders for monetary damages for breach of fiduciary duty as a director to the fullest
extent permitted by the DGCL.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">In addition, the Registrant currently maintains liability insurance
for its directors and officers insuring them against certain liabilities asserted against them in their capacities as directors
or officers or arising out of such status.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 7. Exemption from Registration Claimed.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Not applicable.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 8. Exhibits.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">The following exhibits are submitted herewith or incorporated by
reference herein.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 12%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B><U>Number</U></B></FONT></TD>
    <TD STYLE="width: 88%"><BR>
<FONT STYLE="font-size: 10pt"><B><U>Description</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_51.htm"><FONT STYLE="font-size: 10pt">5.1</FONT></A></TD>
    <TD><A HREF="exh_51.htm"><FONT STYLE="font-size: 10pt">Opinion of Gibson, Dunn and Crutcher LLP (filed herewith).</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_231.htm"><FONT STYLE="font-size: 10pt">23.1</FONT></A></TD>
    <TD><A HREF="exh_231.htm"><FONT STYLE="font-size: 10pt">Consent of Ernst &amp; Young LLP, Independent Registered Public Accounting Firm (filed herewith).</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_51.htm"><FONT STYLE="font-size: 10pt">23.2</FONT></A></TD>
    <TD><A HREF="exh_51.htm"><FONT STYLE="font-size: 10pt">Consent of Gibson, Dunn and Crutcher LLP (included in Exhibit 5.1).</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">24.1</FONT></A></TD>
    <TD><A HREF="#a_001"><FONT STYLE="font-size: 10pt">Power of Attorney (included on signature page).</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_991.htm"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD><A HREF="exh_991.htm"><FONT STYLE="font-size: 10pt">Inducement Equity Incentive Plan, effective as of April 24, 2019 (filed herewith).</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item 9. Undertakings.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant
hereby undertakes:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period
in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any
prospectus required by Section 10(a)(3) of the Securities Act.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0 0pt 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To reflect
in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this
Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar
value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set
forth in the &ldquo;Calculation of Registration Fee&rdquo; table in this Registration Statement; and</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0 0pt 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include
any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 71.5pt; margin: 0pt 0"><I>provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii)
do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are
incorporated by reference in this Registration Statement.</P>

<P STYLE="font-size: 10pt; text-indent: 71.5pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose
of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant
hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual
report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in this Registration Statement
shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>SIGNATURES</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Pursuant to the requirements of the Securities Act, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused
this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Durham, State
of North Carolina, on the 29th day of April, 2019.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">BIOCRYST PHARMACEUTICALS, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Jon P. Stonehouse</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Jon P. Stonehouse</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">President &amp; Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_001"></A>POWER OF ATTORNEY</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Each of the undersigned officers and directors of BIOCRYST PHARMACEUTICALS,
INC. hereby constitutes and appoints Jon P. Stonehouse, Thomas R. Staab, II and Alane P. Barnes, and each of them, as the undersigned&rsquo;s
true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for the undersigned and in the
undersigned&rsquo;s name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective
amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and all documents in connection therewith,
with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes
as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or
any of them, or any of their substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Pursuant to the requirements of the Securities Act, this Registration
Statement has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Signature</U></B></FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Title</U></B></FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Date</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Jon P. Stonehouse </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 29, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Jon P. Stonehouse</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Principal Executive Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Thomas R. Staab, II </FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Senior Vice President, Chief Financial Officer and Treasurer</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">April 29, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Thomas R. Staab, II</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Principal Financial Officer and Principal Accounting Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ George B. Abercrombie </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 29, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">George B. Abercrombie</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Stephen J. Aselage</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 29, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Stephen J. Aselage</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Theresa M. Heggie</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 29, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Theresa M. Heggie</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Nancy Hutson </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 29, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Nancy Hutson, Ph.D.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Robert. A Ingram </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 29, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Robert. A Ingram</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Kenneth B. Lee, Jr. </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 29, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Kenneth B. Lee, Jr.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exh_51.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B></B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">[Letterhead of Gibson, Dunn &amp; Crutcher LLP]</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">April 29, 2019</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">BioCryst Pharmaceuticals, Inc.<BR>
4505 Emperor Blvd., Suite 200<BR>
Durham, North Carolina 27703</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Re:</TD><TD>BioCryst Pharmaceuticals, Inc.<BR>
Registration Statement on Form S-8</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We have examined the Registration Statement on Form S-8 (the &ldquo;Registration Statement&rdquo;)
of BioCryst Pharmaceuticals, Inc., a Delaware corporation (the &ldquo;Company&rdquo;), filed with the Securities and Exchange Commission
(the &ldquo;Commission&rdquo;) pursuant to the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), in connection
with the offering by the Company of up to 1,500,000 shares of the Company&rsquo;s common stock, par value $0.01 per share (&ldquo;Common
Stock&rdquo;), issuable pursuant to the Company&rsquo;s Inducement Equity Incentive Plan (the &ldquo;Plan,&rdquo; and such shares,
the &ldquo;Shares&rdquo;).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In arriving at the opinion expressed below, we have examined originals, or copies certified
or otherwise identified to our satisfaction as being true and complete copies of the originals, of specimen Common Stock certificates
and such other documents, corporate records, certificates of officers of the Company and of public officials and other instruments
as we have deemed necessary or advisable to enable us to render this opinion. In our examination, we have assumed the genuineness
of all signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us
as originals and the conformity to original documents of all documents submitted to us as copies. As to any facts material to this
opinion, we have relied to the extent we deemed appropriate and without independent investigation upon statements and representations
of officers and other representatives of the Company and others. We have assumed without independent investigation that there are
no agreements or understandings between or among the Company and any participants in the Plan that would expand, modify, or otherwise
affect the terms of the Plan or the respective rights or obligations of the participants thereunder.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Based on the foregoing and in reliance thereon, and subject to the assumptions, exceptions,
qualifications and limitations set forth herein, we are of the opinion that the Shares, when issued against payment therefor in
accordance with the terms set forth in the Plan, will be validly issued, fully paid and non-assessable.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">BioCryst Pharmaceuticals, Inc.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">April 29, 2019</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Page 2</P>



<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The opinion expressed above is subject to the following exceptions, qualifications, limitations
and assumptions:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We render no opinion herein as to matters involving the laws of any jurisdiction other than the Delaware General Corporation
Law (&ldquo;DGCL&rdquo;). This opinion is limited to the effect of the current state of the DGCL and the facts as they currently
exist. We assume no obligation to revise or supplement this opinion in the event of future changes in such laws or the interpretation
thereof or such facts. We express no opinion regarding any state securities laws or regulations.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We consent to the filing of this opinion as an exhibit to the Registration Statement.
In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section
7 of the Securities Act or the Rules and Regulations of the Commission.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">/s/ Gibson, Dunn &amp; Crutcher LLP</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B>&nbsp;</B></P>

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<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>exh_231.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right">Exhibit 23.1</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Consent of Independent Registered Public Accounting Firm</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We consent to the incorporation by reference in the Registration Statement (Form S-8)
pertaining to the Inducement Equity Incentive Plan of BioCryst Pharmaceuticals, Inc. of our reports dated March 14, 2019, with
respect to the consolidated financial statements of BioCryst Pharmaceuticals, Inc. and the effectiveness of internal control over
financial reporting of BioCryst Pharmaceuticals, Inc. included in its Annual Report (Form 10-K) for the year ended December 31,
2018, filed with the Securities and Exchange Commission.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">/s/ Ernst &amp; Young LLP</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Raleigh, North Carolina</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">April 29, 2019</P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>BIOCRYST PHARMACEUTICALS, INC.</B><BR>
<B>INDUCEMENT EQUITY INCENTIVE PLAN</B><BR>
<FONT STYLE="font-size: 10pt"><B>(EFFECTIVE APRIL 24, 2019<I>)</I></B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
One</FONT><U><BR>
GENERAL PROVISIONS<BR>
<BR>
</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">I.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>PURPOSES OF THE PLAN</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Inducement Equity Incentive Plan (the &ldquo;Plan&rdquo;) is intended to promote the interests of BioCryst Pharmaceuticals,
Inc., a Delaware corporation (the &ldquo;Company&rdquo;), by providing a method whereby certain equity awards may be granted to
prospective employees of the Company and its subsidiaries. The Plan is not subject to the approval of the Company&rsquo;s stockholders
and may only be used for equity incentive grants that qualify as &ldquo;inducement grants&rdquo; under Listing Rule 5635(c)(4)
of the corporate governance rules of the Nasdaq Stock Market (the &ldquo;Nasdaq Inducement Exception&rdquo;).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Plan allows for the grant of awards with respect to 1,500,000 shares of the Company&rsquo;s common stock, par value
$0.01 per share (the &ldquo;Common Stock&rdquo;).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">II.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>ADMINISTRATION OF THE PLAN</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Plan shall be administered by the Committee who shall be the Compensation Committee of the Company&rsquo;s Board of
Directors (the &ldquo;Board&rdquo;) or, in the absence of a Compensation Committee, a properly constituted committee in compliance
with the Nasdaq Inducement Exception (the administrator is referred to herein as the &ldquo;Committee&rdquo; or the &ldquo;Plan
Administrator&rdquo;). Any power of the Committee may also be exercised by the Board, except to the extent that the grant or exercise
of such authority would cause any Award or transaction to become subject to (or lose an exemption under) the short-swing profit
recovery provisions of Section 16 of the Securities Exchange Act of 1934. To the extent that any permitted action taken by the
Board conflicts with action taken by the Committee, the Board action shall control. The Committee may delegate any or all aspects
of the day-to-day administration of the Plan to one or more officers or employees of the Company or any subsidiary or affiliate,
and/or to one or more agents.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the express provisions of this Plan, the Committee shall be authorized and empowered to do all things that it
determines to be necessary or appropriate in connection with the administration of this Plan, including, without limitation: (i)
to prescribe, amend and rescind rules and regulations relating to this Plan and to define terms not otherwise defined herein; (ii)
to determine which persons are grantees, to which of such grantees, if any, awards shall be granted hereunder and the timing of
any such awards; (iii) to grant awards to grantees and determine the terms and conditions thereof, including the number of shares
of Common Stock subject to awards and the exercise or purchase price of such shares and the circumstances under which awards become
exercisable or vested or are forfeited or expire, which terms may but need not be conditioned upon the passage of time, continued
employment, the satisfaction of performance criteria, the occurrence of certain events (including events which constitute a Change
in Control), or other factors; (iv) to establish and verify the extent of satisfaction of any performance goals or other conditions
applicable to the grant, issuance, exercisability, vesting and/or ability to retain any award; (v) to prescribe and amend the terms
of the agreements or other documents evidencing awards made under this Plan (which need not be identical) and the terms of or form
of any document or notice required to be delivered to the Company by grantees under this Plan; (vi) to determine the extent to
which adjustments are required pursuant to Article One; (vii) to interpret and construe this Plan, any rules and regulations under
this Plan and the terms and conditions of any award granted hereunder, and to make exceptions to any such provisions for the benefit
of the Company; (viii) to approve corrections in the documentation or administration of any award; and (ix) to make all other determinations
deemed necessary or advisable for the administration of this Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">C.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All decisions, determinations and interpretations by the Committee regarding the Plan, any rules and regulations under the
Plan and the terms and conditions of or operation of any Award granted hereunder, shall be final and binding on all grantees, beneficiaries,
heirs, assigns or other persons holding or claiming rights under the Plan or any Award. The Committee shall consider such factors
as it deems relevant, in its sole and absolute discretion, to making such decisions, determinations and interpretations including,
without limitation, the recommendations or advice of any officer or other employee of the Company and such attorneys, consultants
and accountants as it may select.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">III.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>ELIGIBILITY</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The persons eligible to participate in the Plan are prospective employees of the Company and its subsidiaries. For the avoidance
of doubt, grants promised to such individuals prior to their commencement of employment may be granted following such commencement
to the extent permitted under the Nasdaq Inducement Exception.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Plan Administrator shall, within the scope of its administrative jurisdiction under the Plan, have full power and authority
to determine the eligible persons to receive grants under the Plan and, subject to the Plan, the terms of those grants.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">IV.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>STOCK SUBJECT TO THE PLAN</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Shares of the Company&rsquo;s Common Stock shall be available for issuance under the Plan and shall be drawn from either
the Company&rsquo;s authorized but unissued shares of Common Stock or from reacquired shares of Common Stock, including shares
repurchased by the Company on the open market.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Should an outstanding option under this Plan expire or terminate for any reason prior to exercise in full, the shares subject
to the portion of the option not so exercised shall be available for subsequent option grant or direct stock issuances or RSUs
under the Plan. Unvested shares issued under the Plan and subsequently repurchased by the Company, at the original issue price
paid per share, pursuant to the Company&rsquo;s repurchase rights under the Plan, or shares underlying terminated RSUs, shall be
added back to the number of shares of Common Stock reserved for issuance under the Plan and shall accordingly be available for
reissuance through one or more subsequent option grants or direct stock issuances or RSUs under the Plan. However, shares subject
to an award under the Plan may not again be made available for issuance under the Plan if such shares are: (i) shares used to pay
the exercise price of an option, (ii) shares delivered to or withheld by the Company to pay the withholding taxes related an award,
or (iii) shares repurchased on the open market with the proceeds of an option exercise.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">C.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend,
recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class without
receipt of consideration, then appropriate adjustments shall be made to (i) the maximum number and/or class of securities issuable
under the Plan, (ii) the number and/or class of securities and price per share in effect under each outstanding option under the
Plan, and (iii) the number and/or class of securities in effect under each outstanding direct stock issuance and RSU under the
Plan. The purpose of such adjustments shall be to preclude the enlargement or dilution of rights and benefits under the Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">D.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The fair market value per share of Common Stock on any relevant date under the Plan shall be determined in accordance with
the following provisions:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Common Stock
is not at the time listed or admitted to trading on any national securities exchange but is traded in the over-the-counter market,
the fair market value shall be the mean between the highest bid and lowest asked prices (or, if such information is available,
the closing selling price) per share of Common Stock on the date in question in the over-the-counter market, as such prices are
reported by the National Association of Securities Dealers through the Nasdaq National Market, the Nasdaq Global Select Market
or any successor system. If there are no reported bid and asked prices (or closing selling price) for the Common Stock on the date
in question, then the mean between the highest bid price and lowest asked price (or the closing selling price) on the last preceding
date for which such quotations exist shall be determinative of fair market value.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Common Stock
is at the time listed or admitted to trading on any national securities exchange, then the fair market value shall be the closing
selling price per share of Common Stock on the date in question on the securities exchange determined by the Plan Administrator
to be the primary market for the Common Stock, as such price is officially quoted in the composite tape of transactions on such
exchange. If there is no reported sale of Common Stock on the exchange on the date in question, then the fair market value shall
be the closing selling price on the exchange on the last preceding date for which such quotation exists.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Common Stock
is at the time neither listed nor admitted to trading on any securities exchange nor traded in the over-the-counter market, then
the fair market value shall be determined by the Plan Administrator after taking into account such factors as the Plan Administrator
shall deem appropriate.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>V.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MINIMUM
VESTING PERIOD</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Notwithstanding any other provision of this
Plan to the contrary, in no event shall any award granted pursuant to this Plan vest prior to the twelve (12)-month anniversary
of the date of grant, other than in connection with the grantee&rsquo;s death or permanent disability or, to the extent permitted
hereunder, in connection with a Change in Control (provided that this limitation shall not apply with respect to up to five percent
(5%) of the shares of Common Stock available for issuance under this Plan). The minimum vesting period set forth in this Section
VI may not be waived or superseded by any provision in an award or other agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B></B></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>VI.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MINIMUM
HOLDING PERIOD</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">All shares of Common Stock issued under this Plan shall be subject
to a minimum holding period of twelve (12) months (or, if later, when the requirements under the Company&rsquo;s share ownership
guidelines are satisfied), provided that nothing in this Section shall prohibit the disposition of Common Stock in connection with
a Change in Control.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
Two</FONT><U><BR>
DISCRETIONARY OPTION GRANT PROGRAM</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">I.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>TERMS AND CONDITIONS OF OPTIONS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">Options granted pursuant to this Article Two shall be authorized by
action of the Plan Administrator and shall be non-statutory options. Each option granted shall be evidenced by one or more instruments
in the form approved by the Plan Administrator. Each such instrument shall, however, comply with the terms and conditions specified
below.</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Option Price</U>.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The option price per share shall be fixed by the Plan Administrator. In no event, however, shall the option price per share
be less than one hundred percent (100%) of the fair market value per share of Common Stock on the date of the option grant.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The option price shall become immediately due upon exercise of the option and shall, subject to the provisions of Section
II of this Article Two and the instrument evidencing the grant, be payable through one of the following methods (or a combination
thereof):</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;full payment in cash or
check drawn to the Company&rsquo;s order;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;full payment in shares
of Common Stock held by the optionee for the requisite period necessary to avoid a charge to the Company&rsquo;s earnings for financial
reporting purposes and valued at fair market value on the Exercise Date (as such term is defined below);</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;full payment through
a combination of shares of Common Stock held by the optionee for the requisite period necessary to avoid a charge to the Company&rsquo;s
earnings for financial reporting purposes and valued at fair market value on the Exercise Date and cash or cash equivalent;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;full payment through
a &ldquo;net settlement&rdquo; procedure pursuant to which the Company shall withhold shares of Common Stock issuable in connection
with the exercise of the option with a fair market value equal to the exercise price and, if elected by the optionee, all applicable
Federal and State income and employment taxes required to be withheld by the Company in connection with such exercise;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;full payment through a
broker-dealer sale and remittance procedure pursuant to which the optionee (I)&nbsp;shall provide irrevocable written instructions
to a designated brokerage firm to effect the immediate sale of the purchased shares and remit to the Company, out of the sale proceeds
available on the settlement date, sufficient funds to cover the aggregate option price payable for the purchased shares plus all
applicable Federal and State income and employment taxes required to be withheld by the Company in connection with such purchase
and (II)&nbsp;shall provide written directives to the Company to deliver the certificates for the purchased shares directly to
such brokerage firm in order to complete the sale transaction; or</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such other method as
permitted by the Plan Administrator.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">For purposes of this subparagraph 2, the Exercise Date shall be the
date on which written notice of the option exercise is delivered to the Company. Except to the extent the sale and remittance procedure
is utilized in connection with the exercise of the option, payment of the option price for the purchased shares must accompany
such notice.</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Term and Exercise of Options</U>.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">Each option granted under this Article Two shall be exercisable at
such time or times, during such period, and for such number of shares as shall be determined by the Plan Administrator and set
forth in the instrument evidencing the option grant. No such option, however, shall have a maximum term in excess of ten (10) years
from the grant date. During the lifetime of the optionee, the option shall be exercisable only by the optionee and shall not be
assignable or transferable by the optionee except for a transfer of the option by will or by the laws of descent and distribution
following the optionee&rsquo;s death. However, the Plan Administrator shall have the discretion to provide that an option may,
in connection with the optionee&rsquo;s estate plan, be assigned in whole or in part during the optionee&rsquo;s lifetime either
as (i) as a gift to one or more members of optionee&rsquo;s immediate family, to a trust in which optionee and/or one or more such
family members hold more than fifty percent (50%) of the beneficial interest or an entity in which more than fifty percent (50%)
of the voting interests are owned by optionee and/or one or more such family members, or (ii) pursuant to a domestic relations
order. The assigned portion shall be exercisable only by the person or persons who acquire a proprietary interest in the option
pursuant to such assignment. The terms applicable to the assigned portion shall be the same as those in effect for this option
immediately prior to such assignment and shall be set forth in such documents issued to the assignee as the Plan Administrator
may deem appropriate.</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">C.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Termination of Service</U>.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except to the extent otherwise provided pursuant to an applicable award agreement, the following provisions shall govern
the exercise period applicable to any options held by the optionee at the time of cessation of Service or death.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Should the optionee
cease to remain in Service for any reason other than death or permanent disability, then the period for which each outstanding
option held by such optionee is to remain exercisable shall be limited to the three (3)-month period following the date of such
cessation of Service. However, should optionee die during the three (3)-month period following his or her cessation of Service,
the personal representative of the optionee&rsquo;s estate or the person or persons to whom the option is transferred pursuant
to the optionee&rsquo;s will or in accordance with the laws of descent and distribution shall have a twelve (12)-month period following
the date of the optionee&rsquo;s death during which to exercise such option.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event such Service
terminates by reason of permanent disability (as defined in Section 22(e)(3) of the Internal Revenue Code), then the period for
which each outstanding option held by the optionee is to remain exercisable shall be limited to the twelve (12)-month period following
the date of such cessation of Service.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Should the optionee,
after completing five (5) full years of Service, die while in Service, then the exercisability of each of his or her outstanding
options shall automatically accelerate so that each such option shall become fully exercisable with respect to the total number
of shares of Common Stock at the time subject to such option and may be exercised for all or any portion of such shares. The personal
representative of the optionee&rsquo;s estate or the person or persons to whom the option is transferred pursuant to the optionee&rsquo;s
will or in accordance with the laws of descent and distribution shall have a twelve (12)-month period following the date of the
optionee&rsquo;s death during which to exercise such option.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event such Service
terminates by reason of death prior to the optionee obtaining five (5) full years of Service, then the period for which each outstanding
vested option held by the optionee at the time of death shall be exercisable by the optionee&rsquo;s estate or the person or persons
to whom the option is transferred pursuant to the optionee&rsquo;s will shall be limited to the twelve (12)-month period following
the date of the optionee&rsquo;s death.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under no circumstances,
however, shall any such option be exercisable after the specified expiration date of the option term.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such option shall,
during such limited exercise period, be exercisable for any or all of the shares for which the option is exercisable on the date
of the optionee&rsquo;s cessation of Service. Upon the expiration of such limited exercise period or (if earlier) upon the expiration
of the option term, the option shall terminate and cease to be exercisable. However, each outstanding option shall immediately
terminate and cease to remain outstanding, at the time of the optionee&rsquo;s cessation of Service, with respect to any shares
for which the option is not otherwise at that time exercisable or in which the optionee is not otherwise vested.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Should (i) the optionee&rsquo;s
Service be terminated for misconduct (including, but not limited to, any act of dishonesty, willful misconduct, fraud or embezzlement)
or (ii) the optionee make any unauthorized use or disclosure of confidential information or trade secrets of the Company or its
parent or subsidiary corporations, then in any such event all outstanding options held by the optionee under this Article Two shall
terminate immediately and cease to be exercisable.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Plan Administrator shall have complete discretion, exercisable either at the time the option is granted or at any time
while the option remains outstanding, to permit one or more options held by the optionee under this Article Two to be exercised,
during the limited period of exercisability provided under subparagraph 1 above, not only with respect to the number of shares
for which each such option is exercisable at the time of the optionee&rsquo;s cessation of Service but also with respect to one
or more subsequent installments of purchasable shares for which the option would otherwise have become exercisable had such cessation
of Service not occurred.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of the foregoing provisions of this Section I.C (and for all other purposes under the Plan):</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The optionee shall be
deemed to remain in the Service of the Company for so long as such individual renders services on a periodic basis to the Company
(or any parent or subsidiary corporation) in the capacity of an Employee, a non-employee member of the board of directors or an
independent consultant or advisor, unless the agreement evidencing the applicable option grant specifically states otherwise.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The optionee shall be
considered to be an Employee for so long as such individual remains in the employ of the Company or one or more of its parent or
subsidiary corporations, subject to the control and direction of the employer entity not only as to the work to be performed but
also as to the manner and method of performance.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">D.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Stockholder Rights</U>.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">An optionee shall have no stockholder rights with respect to any
shares covered by the option until such individual shall have exercised the option and paid the option price for the purchased
shares. Without limitation, an optionee shall not have any right to receive dividends with respect to unexercised options.</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">E.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Repricing</U>.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">No option may be repriced, regranted through cancellation, including
cancellation in exchange for cash or other awards, or otherwise amended to reduce its option price (other than with respect to
adjustments made in connection with a transaction or other change in the Company&rsquo;s capitalization as permitted under this
Plan) without the approval of the stockholders of the Company.</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-indent: 1.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">II.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>CORPORATE TRANSACTIONS/CHANGES IN CONTROL</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event of any of the following stockholder-approved transactions (a &ldquo;Corporate Transaction&rdquo;):</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a merger or consolidation
in which the Company is not the surviving entity, except for a transaction the principal purpose of which is to change the State
of the Company&rsquo;s incorporation,</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the sale, transfer or
other disposition of all or substantially all of the assets of the Company in liquidation or dissolution of the Company, or</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any reverse merger in
which the Company is the surviving entity but in which securities possessing more than fifty percent (50%) of the total combined
voting power of the Company&rsquo;s outstanding securities are transferred to a person or persons different from the persons holding
those securities immediately prior to such merger.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Immediately after the consummation of the Corporate Transaction, all outstanding options under this Article Two shall fully
vest, terminate and cease to be outstanding, except to the extent continued or assumed (as applicable) by the Company or the successor
corporation or its parent company. The Plan Administrator shall have complete discretion to provide, on such terms and conditions
as it sees fit, for a cash payment to be made to any optionee on account of any option terminated in accordance with this paragraph,
in an amount equal to the excess (if any) of (A) the fair market value of the shares subject to the option as of the date of the
Corporate Transaction, over (B) the aggregate exercise price of the option.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">C.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each outstanding option under this Article Two which is assumed in connection with the Corporate Transaction or is otherwise
to continue in effect shall be appropriately adjusted, immediately after such Corporate Transaction, to apply and pertain to the
number and class of securities which would have been issued to the option holder, in consummation of such Corporate Transaction,
had such person exercised the option immediately prior to such Corporate Transaction. Appropriate adjustments shall also be made
to the option price payable per share, provided the aggregate option price payable for such securities shall remain the same. In
addition, the class and number of securities available for issuance under the Plan following the consummation of the Corporate
Transaction shall be appropriately adjusted. Any such options that are so continued or assumed in connection with a Corporate Transaction
shall be treated as follows: if the grantee&rsquo;s employment is terminated by the Company without Cause or the grantee resigns
due to a Constructive Termination, in either case within the ninety (90) day period preceding or the two (2) year period following
the Corporate Transaction, the exercisability of such option shall automatically accelerate, and the Company&rsquo;s outstanding
repurchase rights under this Article Two shall immediately terminate; provided, however, that if the Company, the acquiror or successor
refuses to continue (or, as applicable, assume) the option in connection with the Corporate Transaction, the exercisability of
such option under this Article Two shall automatically accelerate, and the Company&rsquo;s outstanding repurchase rights under
this Article Two shall immediately terminate upon the occurrence of such Corporate Transaction.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">D.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The grant of options under this Article Two shall in no way affect the right of the Company to adjust, reclassify, reorganize
or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or
any part of its business or assets.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">E.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event of a Change in Control, options shall be treated as follows: if the grantee&rsquo;s employment is terminated
by the Company without Cause or the grantee resigns due to a Constructive Termination, in either case within the ninety (90) day
period preceding or the two (2) year period following the Change in Control, the exercisability of such option shall automatically
accelerate, and the Company&rsquo;s outstanding repurchase rights under this Article Two shall immediately terminate; provided,
however, that if the acquiror or successor refuses to assume the option in connection with the Change in Control, the exercisability
of such option under this Article Two shall automatically accelerate, and the Company&rsquo;s outstanding repurchase rights under
this Article Two shall immediately terminate upon the occurrence of such Change in Control. In the event that the acquiror or successor
refuses to assume the option in connection with the Change in Control, the Plan Administrator shall have complete discretion to
provide, on such terms and conditions as it sees fit, for a cash payment to be made to any optionee on account of any option terminated
in accordance with this paragraph, in an amount equal to the excess (if any) of (A) the fair market value of the shares subject
to the option as of the date of the Change in Control, over (B) the aggregate exercise price of the option.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">F.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of this Section II (and for all other purposes under the Plan), a Change in Control shall be deemed to occur
in the event:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-indent: 1.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any person
or related group of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under
common control with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 of the
Securities Exchange Act of 1934, as amended) of securities possessing more than fifty percent (50%) of the total combined voting
power of the Company&rsquo;s outstanding securities pursuant to a tender or exchange offer made directly to the Company&rsquo;s
stockholders; or</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-indent: 1.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there is a
change in the composition of the Board over a period of twenty-four (24) consecutive months or less such that a majority of the
Board members (rounded up to the next whole number) ceases, by reason of one or more contested elections for Board membership,
to be comprised of individuals who either (A) have been Board members continuously since the beginning of such period or (B) have
been elected or nominated for election as Board members during such period by at least two-thirds of the Board members described
in clause (A) who were still in office at the time such election or nomination was approved by the Board.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">G.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All options accelerated in connection with the Corporate Transaction or Change in Control (either at the time of the Corporate
Transaction or Change in Control or as otherwise provided in this Section II) shall remain fully exercisable until the expiration
or sooner termination of the option term.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">H.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of this Plan:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;Cause&rdquo; means, unless otherwise provided in the applicable award agreement, the Company&rsquo;s termination
of the grantee&rsquo;s employment for any of the following reasons: (i) failure or refusal to comply in any material respect with
lawful policies, standards or regulations of Company; (ii) a violation of a federal or state law or regulation applicable to the
business of the Company; (iii) conviction or plea of no contest to a felony under the laws of the United States or any State; (iv)
fraud or misappropriation of property belonging to the Company or its affiliates; (v) a breach in any material respect of the terms
of any confidentiality, invention assignment or proprietary information agreement with the Company or with a former employer, (vi)
failure to satisfactorily perform the grantee&rsquo;s duties after having received written notice of such failure and at least
thirty (30) days to cure such failure, or (vii) misconduct or gross negligence in connection with the performance of the grantee&rsquo;s
duties.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;Constructive Termination&rdquo; means, unless otherwise provided in the applicable award agreement, the grantee&rsquo;s
resignation of employment with the Company within ninety (90) days of the occurrence of any of the following: (i) a material reduction
in the grantee&rsquo;s responsibilities; (ii) a material reduction in the grantee&rsquo;s base salary; or (iii) a relocation of
the grantee&rsquo;s principal office to a location more than 50 miles from the location of the grantee&rsquo;s existing principal
office.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">III.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXTENSION OF EXERCISE PERIOD</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">The Plan Administrator shall have full power and authority, exercisable
either at the time the option is granted or at any time while the option remains outstanding, to extend the period of time for
which any option granted under this Article Two is to remain exercisable following the optionee&rsquo;s cessation of Service or
death from the limited period in effect under Section I.C.1 of Article Two to such greater period of time as the Plan Administrator
shall deem appropriate; <U>provided</U>, however, that in no event shall such option be exercisable after the specified expiration
date of the option term.</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
Three</FONT><U><BR>
STOCK ISSUANCE PROGRAM</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">I.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>STOCK ISSUANCE TERMS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">Shares of Common Stock may be issued under the Stock Issuance Program
through direct and immediate issuances without any intervening option grants. Each such stock issuance shall be evidenced by a
Stock Issuance Agreement which complies with the terms specified below. Shares of Common Stock may also be issued under the Stock
Issuance Program pursuant to restricted stock units (&ldquo;RSUs&rdquo;), which are awards granted to eligible employees that entitle
them to shares of Common Stock (or cash in lieu thereof) in the future following the satisfaction of vesting conditions imposed
by the Plan Administrator.</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Vesting Provisions</U></B>.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">1.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Plan Administrator may issue shares of Common Stock under the Stock Issuance Program which are to vest in one or more
installments over the grantee's period of Service or upon attainment of specified performance objectives. Alternatively, the Plan
Administrator may issue RSUs under the Stock Issuance Program which shall entitle the recipient to receive a specified number of
shares of Common Stock upon the attainment of one or more Service and/or performance goals established by the Plan Administrator.
Upon the attainment of such Service and/or performance goals, fully-vested shares of Common Stock shall be issued in satisfaction
of those RSUs.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">2.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any new, substituted or additional securities or other property (including money paid other than as a regular cash dividend)
issued by reason of any stock dividend, stock split, recapitalization, combination of shares, exchange of shares or other change
affecting the outstanding Common Stock as a class without the Company&rsquo;s receipt of consideration, shall be issued or set
aside with respect to the shares of unvested Common Stock granted to a grantee or subject to a grantee&rsquo;s RSUs, subject to
(i) the same vesting requirements applicable to the grantee's unvested shares of Common Stock or RSUs, and (ii) such escrow arrangements
as the Plan Administrator shall deem appropriate.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">3.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The grantee shall have full stockholder rights with respect to any shares of Common Stock issued to the grantee under the
Stock Issuance Program, whether or not the grantee's interest in those shares is vested, except that the grantee shall not have
dividend rights with respect to such shares prior to the vesting of such shares. However, the Plan Administrator may provide for
a grantee to receive one or more dividend equivalents with respect to such shares, entitling the grantee to all regular cash dividends
payable on such shares of Common Stock, which amounts shall be (i) subject to the same vesting requirements applicable to the shares
of Common Stock granted hereunder, and (ii) payable upon vesting of the shares to which such dividend equivalents relate.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">4.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The grantee shall not have any stockholder rights with respect to any shares of Common Stock subject to an RSU. However,
the Plan Administrator may provide for a grantee to receive one or more dividend equivalents with respect to such shares, entitling
the grantee to all regular cash dividends payable on the shares of Common Stock underlying the RSU, which amounts shall be (i)
subject to the same vesting requirements applicable to the shares of Common Stock underlying the RSU, and (ii) payable upon issuance
of the shares to which such dividend equivalents relate.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">5.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Should the grantee cease to remain in Service while holding one or more unvested shares of Common Stock issued under the
Stock Issuance Program or should the performance objectives not be attained with respect to one or more such unvested shares of
Common Stock, then those shares shall be immediately surrendered to the Company for cancellation, and the grantee shall have no
further stockholder rights with respect to those shares. To the extent the surrendered shares were previously issued to the grantee
for consideration paid in cash, the Company shall repay to the grantee the cash consideration paid for the surrendered shares.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">6.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as prohibited by the last sentence of paragraph 1 above, the Plan Administrator may in its discretion waive the surrender
and cancellation of one or more unvested shares of Common Stock which would otherwise occur upon the cessation of the grantee&rsquo;s
Service or the non-attainment of the performance objectives applicable to those shares. Such waiver shall result in the immediate
vesting of the grantee's interest in the shares of Common Stock as to which the waiver applies. Such waiver may be effected at
any time, whether before or after the grantee's cessation of Service or the attainment or non-attainment of the applicable performance
objectives.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">7.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Outstanding RSUs under the Stock Issuance Program shall automatically terminate, and no shares of Common Stock shall actually
be issued in satisfaction of those awards, if the Service and/or performance goals established for such awards are not attained.
The Plan Administrator, however, shall, except as prohibited by the last sentence of paragraph 1 above, have the discretionary
authority to issue shares of Common Stock in satisfaction of one or more outstanding RSUs as to which the designated Service and/or
performance goals are not attained. Such authority may be exercised at any time, whether before or after the grantee's cessation
of Service or the attainment or non-attainment of the applicable performance objectives.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0.5in 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">II.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>CORPORATE TRANSACTION/CHANGE IN CONTROL</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each award which is assigned in connection with (or is otherwise to continue in effect after) a Corporate Transaction shall
be appropriately adjusted such that it shall apply and pertain to the number and class of securities issued to the grantee in consummation
of the Corporate Transaction with respect to the shares granted to grantee under this Article Three.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event of a Change in Control, shares of restricted stock and RSUs shall be treated as follows: if the grantee&rsquo;s
employment is terminated by the Company without Cause or the grantee resigns due to a Constructive Termination, in either case
within the ninety (90) day period preceding or the two (2) year period following the Change in Control, the vesting of such restricted
stock and RSUs shall automatically accelerate (and all of the shares of Common Stock subject to such RSUs shall be issued to grantees),
and the Company&rsquo;s outstanding repurchase rights under this Article Three shall immediately terminate; provided, however,
that if the acquiror or successor refuses to assume the shares of restricted stock or RSUs or substitute an award of equivalent
value (as determined by the Committee in its discretion) in connection with the Change in Control, the vesting of such restricted
stock or RSUs under this Article Three shall automatically accelerate (and all of the shares of Common Stock subject to such RSUs
shall be issued to grantees). To the extent any shares of restricted stock or RSUs vest in whole or in part based on the achievement
of performance criteria, the amount that shall vest in accordance with the proviso to clause (2) of the immediately-preceding sentence
shall vest based on the higher of actual performance goal attainment through the date of the Change in Control or a prorated amount
using target performance and based on the time elapsed in the performance period as of the date of the Change in Control.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">III.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>STOCKHOLDER RIGHTS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Individuals who are granted shares of Common Stock pursuant to this Article Three shall be the owners of such shares for
all purposes while holding such Common Stock, and may exercise full voting rights with respect to those shares at all times while
held by the individuals. Individuals who have been granted RSUs shall have no voting rights with respect to Common Stock underlying
RSUs unless and until such Common Stock is reflected as issued and outstanding shares on the Company&rsquo;s stock ledger.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Individuals who are granted shares of Common Stock pursuant to this Article Three shall not have dividend rights with respect
to such shares prior to the vesting of such shares. However, the Plan Administrator may provide for a grantee to receive one or
more dividend equivalents with respect to such shares, entitling the grantee to all regular cash dividends payable on such shares
of Common Stock, which amounts shall be (i) subject to the same vesting requirements applicable to the shares of Common Stock granted
hereunder, and (ii) payable upon vesting of the shares to which such dividend equivalents relate.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">IV.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>SHARE ESCROW / LEGENDS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">Unvested shares may, in the Plan Administrator's discretion, be held
in escrow by the Company until the grantee's interest in such shares vests or may be issued directly to the grantee with restrictive
legends on the certificates evidencing those unvested shares.</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
Four</FONT><U><BR>
MISCELLANEOUS</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">I.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>AMENDMENT OF THE PLAN</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">The Board shall have complete and exclusive power and authority to
amend or modify the Plan in any or all respects whatsoever. However, no such amendment or modification shall, without the consent
of the holders, adversely affect rights and obligations with respect to options at the time outstanding under the Plan.</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">II.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>TAX WITHHOLDING</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company&rsquo;s obligation to deliver shares upon the exercise of stock options or upon the grant or vesting of direct
stock issuances or RSUs under the Plan shall be subject to the satisfaction of all applicable Federal, State, non-U.S. and local
income and employment tax withholding requirements.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Holders of outstanding options or stock issuances and RSUs under the Plan may elect to have the Company withhold, from the
shares of Common Stock otherwise issuable upon the exercise or vesting of such awards, a whole number of such shares with an aggregate
fair market value equal to the minimum amount necessary to satisfy the Federal, State and local income and employment tax withholdings
(the &ldquo;Taxes&rdquo;) incurred in connection with the acquisition or vesting of such shares. In lieu of such direct withholding,
one or more grantees may also be granted the right to deliver whole shares of Common Stock to the Company in satisfaction of such
Taxes. Any withheld or delivered shares shall be valued at their fair market value on the applicable determination date for such
Taxes.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">III.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EFFECTIVE DATE AND TERM OF PLAN</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">The Plan shall be effective on the date specified in the Board of Directors
resolution adopting the Plan.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">IV.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>USE OF PROCEEDS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">Any cash proceeds received by the Company from the sale of shares pursuant
to options or stock issuances granted under the Plan shall be used for general corporate purposes.</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">V.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>REGULATORY APPROVALS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The implementation of the Plan, the granting of any option hereunder, and the issuance of stock (i) upon the exercise or
surrender of any option or (ii) under the Stock Issuance Program shall be subject to the procurement by the Company of all approvals
and permits required by regulatory authorities having jurisdiction over the Plan, the options granted under it and the stock issued
pursuant to it.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No shares of Common Stock or other assets shall be issued or delivered under the Plan unless and until there shall have
been compliance with all applicable requirements of Federal and state securities laws, including (to the extent required) the filing
and effectiveness of the Form S-8 registration statement for the shares of Common Stock issuable under the Plan, and all applicable
listing requirements of any stock exchange (or the Nasdaq National Market, the Nasdaq Global Select Market or any successor system,
if applicable) on which Common Stock is then trading.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">VI.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>NO EMPLOYMENT/SERVICE RIGHTS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">Neither the action of the Company in establishing or restating the
Plan, nor any action taken by the Plan Administrator hereunder, nor any provision of the Plan shall be construed so as to grant
any individual the right to remain in the employ or service of the Company (or any parent or subsidiary corporation) for any period
of specific duration, and the Company (or any parent or subsidiary corporation retaining the services of such individual) may terminate
such individual&rsquo;s employment or service at any time and for any reason, with or without cause.</P>

<P STYLE="font-size: 10pt; text-indent: 1in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">VII.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>MISCELLANEOUS PROVISIONS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">A.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except to the extent otherwise expressly provided in the Plan, the right to acquire Common Stock or other awards under the
Plan may not be assigned, encumbered or otherwise transferred by any grantee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">B.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Awards issued under the Plan shall be subject to any clawback policy of the Company as in effect from time-to-time.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">C.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The provisions of the Plan relating to the exercise of options and the issuance and/or vesting of shares shall be governed
by the laws of the State of Delaware without resort to that state&rsquo;s conflict-of-laws provisions, as such laws are applied
to contracts entered into and performed in such State.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">D.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Plan is intended to be an unfunded plan. Grantees are and shall at all times be general creditors of the Company with
respect to their awards. If the Committee or the Company chooses to set aside funds in a trust or otherwise for the payment of
awards under the Plan, such funds shall at all times be subject to the claims of the creditors of the Company in the event of its
bankruptcy or insolvency.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">E.<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Awards granted under the Plan to residents of countries other than the United States may be subject to terms and conditions
in addition to and/or different from those specified herein, which such terms and conditions shall be set forth in an Appendix
to the Plan. Any terms in such Appendix that conflict with Articles One through Four of the Plan shall apply in lieu thereof.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">14</P>

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