<SEC-DOCUMENT>0001615774-16-004771.txt : 20160401
<SEC-HEADER>0001615774-16-004771.hdr.sgml : 20160401
<ACCEPTANCE-DATETIME>20160401165431
ACCESSION NUMBER:		0001615774-16-004771
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160506
FILED AS OF DATE:		20160401
DATE AS OF CHANGE:		20160401
EFFECTIVENESS DATE:		20160401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ANAVEX LIFE SCIENCES CORP.
		CENTRAL INDEX KEY:			0001314052
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				208365999
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37606
		FILM NUMBER:		161547877

	BUSINESS ADDRESS:	
		STREET 1:		51 W 52ND STREET,
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019-6163
		BUSINESS PHONE:		800-689-3939

	MAIL ADDRESS:	
		STREET 1:		51 W 52ND STREET,
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019-6163

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Thrifty Printing Inc.
		DATE OF NAME CHANGE:	20050111
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>s102878_def14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C.&nbsp;&nbsp;20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(RULE 14a-101)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN PROXY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by the Registrant&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by a Party other than the Registrant&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Preliminary Proxy Statement</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify"><B>Confidential, For Use of the Commission Only (As Permitted
by Rule 14a-6(e)(2))</B></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD><TD STYLE="text-align: justify">Definitive Proxy Statement</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Definitive Additional Materials</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Soliciting Material under Rule 14a-12</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 25%; text-align: center">&nbsp;</td>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Anavex Life Sciences Corp.</b></font></td>
    <TD STYLE="width: 25%; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><I>(Name of Registrant as Specified In Its</I></FONT><br>
<FONT STYLE="font-size: 10pt"><I>Charter)</I></FONT></td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</td>
    <TD STYLE="text-align: center"><font style="font-size: 10pt"><i>(Name of Person(s) Filing Proxy Statement, if </i></font><br>
<font style="font-size: 10pt"><i>other than the Registrant)</i></font></td>
    <TD STYLE="text-align: center">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&thorn;</FONT>&nbsp;&nbsp;No
fee required</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Fee
computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;&nbsp;Title of each class of securities to which transaction
applies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;&nbsp;Aggregate number of securities to which transaction
applies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;&nbsp;Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was&nbsp;determined):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;&nbsp;Proposed maximum aggregate value of transaction:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5)&nbsp;&nbsp;Total fee paid:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Fee
paid previously with preliminary materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Check
box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting
fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of
its filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;&nbsp;Amount Previously Paid:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;&nbsp;Form, Schedule or Registration Statement No.:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;&nbsp;Filing Party:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;&nbsp;Date Filed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ANAVEX
LIFE SCIENCES CORP. </B></FONT><B><BR>
51 W 52<SUP>nd </SUP>Street, 7<SUP>th </SUP>Floor, New York, NY 10019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Stockholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You are invited to
attend the 2016 Annual Meeting of Stockholders of Anavex Life Sciences Corp. which will be held on Friday, May 6,<B> </B>2016,
10:00 a.m., local time, at the offices of K&amp;L Gates LLP, 599 Lexington Avenue, New York, NY 10022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Details regarding the
meeting and the business to be conducted are described in the accompanying proxy statement. In addition to considering the matters
described in the proxy statement, we will report on matters of interest to our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Whether or not you
plan to attend the meeting, we encourage you to vote as soon as possible to ensure that your shares are represented at the meeting.
The attached proxy statement explains more about proxy voting, so please read it carefully.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We look forward to your continued support.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">/s/ <I>Christopher U. Missling, PhD. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">Christopher U. Missling, PhD.<BR>
<I>Chief Executive Officer</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">April 1, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><IMG SRC="tlogo.jpg" ALT="">&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 1, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">51 W 52<SUP>nd </SUP>Street, 7<SUP>th </SUP>Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is important that
your shares be represented at the 2016 Annual Meeting of Stockholders of Anavex Life Sciences Corp. regardless of the number of
shares you hold. <B>Whether or not you expect to attend the meeting in person, please complete, date, sign and return the accompanying
proxy card in the enclosed envelope to ensure the presence of a quorum at the meeting.</B> Even if you have voted by proxy, and
you attend the meeting, you may, if you prefer, revoke your proxy and vote your shares in person. <B>Please note, however, that
if your shares are held of record by a broker, bank or other nominee and you wish to vote at the meeting, you will not be permitted
to vote in person at the meeting unless you first obtain a legal proxy issued in your name from the record holder.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This proxy
statement is dated April 1, 2016 and is going to be first mailed to stockholders of Anavex Life Sciences Corp. on or about
April 1, 2016. This proxy statement contains information on matters to be voted upon at the 2016 Annual Meeting of
Stockholders of Anavex Life Sciences Corp.or any adjournments of that meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>Important Notice Regarding the Availability
of Proxy Materials for the Annual Meeting of Stockholders to Be Held on Friday, May 6, 2016 at the office of K&amp;L Gates, LLP
at </B>5<B>99 Lexington Avenue, New York, NY 10022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The proxy statement and 2015 annual report to stockholders
are available at <U>www.proxyvote.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;<IMG SRC="tlogo.jpg" ALT=""></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="width: 90%"><A HREF="#a_001">QUESTIONS AND ANSWERS ABOUT THE 2016 MEETING</A></td>
    <TD STYLE="width: 10%; text-align: right; vertical-align: bottom">1</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_002">PROPOSAL&nbsp;1 - ELECTION OF DIRECTORS</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">6</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_003">General</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">6</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_004">Information Concerning Director Nominees</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">6</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_005">Corporate Governance</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">7</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_006">The Board and Board Committees</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">8</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_007">Stockholder Recommendations For Board Candidates</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">10</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_008">Stockholder Communications with the Board</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">10</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_009">Board Recommendation</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">10</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_010">INFORMATION CONCERNING EXECUTIVE OFFICERS&nbsp;&nbsp;WHO ARE NOT DIRECTORS</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">11</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><A HREF="#a_011">EXECUTIVE AND DIRECTOR COMPENSATION</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">11</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_012">Summary Compensation Table</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">11</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><A HREF="#a_013">Outstanding Equity Awards at Fiscal Year-End</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">12</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_014">SECTION 16(<font style="text-transform: uppercase">a</font>) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">14</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><A HREF="#a_015">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">14</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_016">PROPOSAL&nbsp;2 &ndash; TO RATIFY THE APPROVAL AND ADOPTION OF THE 2015 OMNIBUS INCENTIVE PLAN</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">16</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_017">Purposes</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">16</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_018">Shares Available for Issuance</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">16</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_019">Administration</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">16</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_020">Eligibility</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">17</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_021">Types of Awards</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">17</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_022">Other Terms of Awards</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">18</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_023">Amendment of the 2015 Plan</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">18</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_024">The Board&rsquo;s Right to Modify Benefits</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">18</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_025">Change in Control</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">18</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_026">Section 162 Limitations</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">19</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_027">Board Recommendation</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">19</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_028">PROPOSAL&nbsp;3 &ndash; RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">20</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_029">General</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">20</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_030">Audit and Non-Audit Fees</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">20</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_031">Vote Required for Approval</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">21</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td style="padding-left: 0.25in; text-indent: 0in"><A HREF="#a_032">Board Recommendation</A></td>
    <TD STYLE="text-align: right; text-indent: 0in; vertical-align: bottom">21</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><A HREF="#a_033">FUTURE STOCKHOLDER PROPOSALS</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">22</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_034">NO DISSENTERS&rsquo; RIGHTS</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">22</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><A HREF="#a_035">TRANSACTIONS WITH RELATED PERSONS</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">23</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_036">CODE OF ETHICS AND CONDUCT</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">23</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><A HREF="#a_037">OTHER MATTERS</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">23</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_038">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">23</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><A HREF="#a_039">FORM 10-K ANNUAL REPORT TO STOCKHOLDERS</A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">24</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><A HREF="#a_040"><font style="text-transform: uppercase">2016 MEETING PROXY MATERIALS RESULTS</font></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">25</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td><A HREF="#a_041"><font style="text-transform: uppercase">DELIVERY OF DOCUMENTS TO STOCKHOLDERS SHARING AN ADDRESS</font></A></td>
    <TD STYLE="text-align: right; vertical-align: bottom">25</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid; text-align: center">i<P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B><IMG SRC="tlogo.jpg" ALT="">&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT FOR THE<BR>
2016 ANNUAL MEETING OF STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Anavex Life Sciences
Corp. (&ldquo;<U>we</U>&rdquo;, &ldquo;<U>us</U>&rdquo;, &ldquo;<U>our</U>&rdquo;, &ldquo;<U>Anavex</U>&rdquo;, or the &ldquo;<U>Company</U>&rdquo;)
is providing these proxy materials in connection with the 2016 Annual Meeting of Stockholders of Anavex Life Sciences Corp. (the
&ldquo;<U>2016 Meeting</U>&rdquo;). This proxy statement contains important information for you to consider when deciding how to
vote on the matters brought before the 2016 Meeting.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_001"></A>QUESTIONS AND ANSWERS
ABOUT THE 2016 MEETING</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD>When and where is the 2016 Meeting?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-weight: normal">A:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The 2016 Meeting is being held at the offices of K&amp;L Gates
LLP, located at 599 Lexington Avenue, New York, NY 10022, at 10:00 a.m., local time on Friday, May 6, 2016. Driving directions
to the 2016 Meeting may be obtained by contacting the Company at 866.505.2895.</FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD>Who is entitled to vote at the 2016 Meeting?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">Holders of Anavex Life Sciences Corp.&rsquo;s common stock, par value $0.001 per share (&ldquo;<U>Common
Stock</U>&rdquo;), at the close of business on March 8, 2016, the record date for the 2016 Meeting (the &ldquo;<U>Record Date</U>&rdquo;)
established by our board of directors (the &ldquo;<U>Board</U>&rdquo;), are entitled to receive notice of the 2016 Meeting (the
&ldquo;<U>Meeting Notice</U>&rdquo;), and to vote their shares at the 2016 Meeting and any related adjournments or postponements
thereof. The Meeting Notice, proxy statement and form of proxy card are first expected to be made available to stockholders on
or about April 1, 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD STYLE="text-align: justify">As of the close of business on the Record Date, there were 35,695,572 shares of our Common Stock
outstanding and entitled to vote. Holders of our Common Stock are entitled to one (1) vote per share at the 2016 Meeting. Holders
of the Common Stock are collectively referred to herein as the Company&rsquo;s &ldquo;stockholders.&rdquo; At the 2016 Meeting,
there will be a total of 35,695,572 possible votes with respect to the outstanding shares of capital stock entitled to vote at
the Meeting.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD>Who can attend the 2016 Meeting?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">Admission to the 2016 Meeting is limited to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">stockholders as of the close of business on the Record Date, March 8, 2016;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">holders of valid proxies for the 2016 Meeting; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the Company&rsquo;s invited guests.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD STYLE="text-align: justify">For admission into the 2016 Meeting, each stockholder may be asked to present valid picture identification
such as a driver&rsquo;s license or passport and proof of stock ownership as of the Record Date.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">Can I vote my shares by filling out and returning the Meeting Notice?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">No. The Meeting Notice identifies the items to be voted on at the 2016 Meeting, but you cannot
vote by marking the Meeting Notice and returning it.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT=""><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">What is the difference between a stockholder of record and a stockholder who holds stock in street
name?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">If your shares are registered in your name as evidenced and recorded in the stock ledger maintained
by the Company and our transfer agent, you are a stockholder of record. If your shares are held in the name of your broker, bank
or other nominee, these shares are held in &ldquo;street name&rdquo;.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD STYLE="text-align: justify">If you are a stockholder of record and you have requested printed proxy materials, we have enclosed
a proxy card for you to use. If you hold your shares in street name through one or more banks, brokers or other nominees, you will
receive the Meeting Notice, together with voting instructions, from the record holder third party or parties through which you
hold your shares. If you requested printed proxy materials, your broker, bank or other nominee has enclosed a voting instruction
card for you to use in directing the broker, bank or other nominee regarding how to vote your shares.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">What are the quorum requirements for the 2016 Meeting?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">The presence in person or by proxy of at least one third (33.3%) of the issued and outstanding
shares entitled to vote at the 2016 Meeting constitutes a quorum. Your shares will be counted as present at the 2016 Meeting for
purposes of determining whether there is a quorum if a proxy card has been properly submitted by you or on your behalf, or you
vote in person at the 2016 Meeting. Abstaining votes and broker non-votes are counted for purposes of establishing a quorum.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">What matters will the stockholders vote on at the 2016 Meeting?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD STYLE="text-align: justify">The stockholders will vote on the following proposals:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Proposal&nbsp;1</I>. <I>Election of Directors</I>. To elect five (5) members of our Board, each
to hold office until the next annual meeting of stockholders or until such director&rsquo;s successor shall have been duly elected
and qualified.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Proposal&nbsp;2. To ratify the approval and adoption of the 2015 Omnibus Incentive Plan. </I>To act upon a proposal to ratify
the approval and adoption of the Company&rsquo;s 2015 Omnibus Incentive Plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Proposal&nbsp;3. Ratification of Independent Registered Public Accounting Firm.</I> To ratify
the appointment of BDO USA, LLP as the Company&rsquo;s independent registered public accounting firm.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">What vote is required to approve these proposals?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">Provided a quorum is present, the following are the voting requirements for each proposal:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Proposal&nbsp;1. Election of Directors</I>. Each of the five (5) nominees who receives the affirmative
vote of the holders of a majority of the Common Stock having voting power present in person or represented by proxy shall be elected.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Proposal&nbsp;2. Proposal to ratify the approval and adoption of the Company&rsquo;s 2015 Omnibus Incentive Plan</I>. Ratification
of the Company&rsquo;s 2015 Omnibus Incentive Plan (the &ldquo;<U>2015 Plan</U>&rdquo;) will require the affirmative vote of a
majority of the Common Stock having voting power present in person or represented by proxy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Proposal&nbsp;3. Ratification of Independent Registered Public Accounting Firm</I>. The Company&rsquo;s
independent registered public accounting firm, BDO USA, LLP, will be ratified upon the affirmative vote of the holders of a majority
of the Common Stock having voting power present in person or represented by proxy.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD>What are the Board&rsquo;s voting recommendations?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD>Our Board recommends that you vote your shares:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;FOR</B>&rdquo; the five (5) directors nominated by our Board as directors, each to serve
until the next annual meeting of stockholders or until such director&rsquo;s successor shall have been duly elected and qualified;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">&ldquo;<B>FOR</B>&rdquo; the ratification of the approval of the 2015 Plan; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">&ldquo;<B>FOR</B>&rdquo; the ratification of BDO USA, LLP as the Company&rsquo;s independent registered
public accounting firm.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">How do I vote?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">You may vote by any of the following methods:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>In Person</I>. Stockholders of record and beneficial stockholders with shares held in street
name may vote in person at the 2016 Meeting. If you hold shares in street name, you must obtain a proxy from the stockholder of
record authorizing you to vote your shares and bring it to the meeting along with proof of beneficial ownership of your shares.
A photo I.D. is required to vote in person.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>By mail.</I> If you elected to receive printed proxy materials by mail, you may vote by signing
and returning the proxy card provided. Please allow sufficient time for mailing if you decide to vote by mail.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>By
                                         internet or telephone.</I> You may also vote over the internet at <U>www.proxyvote.com
                                         </U>or vote by telephone at 800.690.6903. Please see your proxy card for voting instructions.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">How can I change or revoke my vote?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">You may change your vote as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Stockholders of record</I>. You may change or revoke your vote by submitting a written notice
of revocation to Anavex Life Sciences Corp., 51 W 52nd Street, 7th Floor, New York, NY 10019, Attention: Christopher Missling,
PhD., Chief Executive Officer, or by submitting another proxy card before the conclusion of the 2016 Meeting. For all methods of
voting, the last vote cast will supersede all previous votes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Beneficial owners of shares held in street name.</I> You may change or revoke your voting instructions
by following the specific directions provided to you by your bank, broker or other nominee.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B><IMG SRC="tlogo.jpg" ALT="">&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">What if I do not specify a choice for a matter when returning a proxy?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">Your proxy will be treated as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0"><I>Stockholders
of record.</I> If you are a stockholder of record and you sign and return a proxy card without giving specific voting instructions,
then the proxy holders will vote your shares in the manner recommended by the Board on all matters presented in this proxy statement
and as the proxy holders may determine in their discretion for any other matters properly presented for a vote at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD STYLE="text-align: justify"><I>Beneficial owners of shares held in street name.</I> If you are a beneficial owner of shares
held in street name and do not provide the organization that holds your shares with specific voting instructions, the organization
that holds your shares may generally vote on routine matters but cannot vote on non-routine matters. If the organization that holds
your shares does not receive instructions from you on how to vote your shares on a non-routine matter, the organization that holds
your shares will inform the inspector of election that it does not have the authority to vote on this matter with respect to your
shares. This is referred to as a &ldquo;broker non-vote.&rdquo;</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">Which ballot measures are considered &ldquo;routine&rdquo; or &ldquo;non-routine&rdquo;?<FONT STYLE="font-weight: normal">
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">A:</TD><TD STYLE="text-align: justify">The election of directors (&ldquo;<U>Proposal&nbsp;1</U>&rdquo;)
and the ratification of the approval and adoption of the 2015 Plan (&ldquo;<U>Proposal&nbsp;2</U>&rdquo;), are considered to be
non-routine matters under applicable rules. The confirmation of BDO USA, LLP as the Company&rsquo;s independent registered public
accounting firm (&ldquo;<U>Proposal&nbsp;3</U>&rdquo;) is considered a routine matter. A broker or other nominee cannot vote without
instructions on non-routine matters, and therefore there may be broker non-votes on Proposals&nbsp;1 and 2.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">Could other matters be decided at the 2016 Meeting?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">As of the date of the filing of this proxy statement, we were not aware of any matters to be raised
at the 2016 Meeting other than those referred to in this proxy statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD STYLE="text-align: justify">If other matters are properly presented at the 2016 Meeting for consideration, the proxy holders
for the 2016 Meeting will have the discretion to vote on those matters for stockholders who have submitted a proxy card.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">How are proxies solicited and what is the cost?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">We are making, and we will bear all expenses incurred in connection with the solicitation of proxies.
Although we do not currently contemplate doing so, we may engage a proxy solicitation firm to assist us in soliciting proxies,
and if we do so we will pay the fees of any such firm. In addition to solicitation by mail, our directors, officers and employees
may solicit proxies from stockholders by telephone, letter, facsimile or in person. Following the original mailing of the Meeting
Notice, we will request brokers, custodians, nominees and other record holders to forward their own notice and, upon request, to
forward copies of the proxy statement and related soliciting materials to persons for whom they hold shares of our capital stock
and to request authority for the exercise of proxies. In such cases, upon the request of the record holders, we will reimburse
such holders for their reasonable expenses.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B><IMG SRC="tlogo.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">Q:</TD><TD STYLE="text-align: justify">What should I do if I have questions regarding the 2016 Meeting?</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A:</TD><TD STYLE="text-align: justify">If you have any questions about the 2016 Meeting, would like to obtain directions to be able to
attend the 2016 Meeting and vote in person or would like additional copies of any of the documents referred to in this proxy statement,
you should call our Investor Relations department at 866.505.2895.</TD></TR></TABLE>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_002"></A>PROPOSAL&nbsp;1 -
ELECTION OF DIRECTORS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_003"></A>General</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At the 2016
Meeting, a board of five (5) directors will be elected, each to hold office until the succeeding annual meeting of
stockholders or until such director&rsquo;s successor shall have been duly elected and qualified (or, if earlier, such
director&rsquo;s removal or resignation from our Board). Information concerning all director nominees appears below.
Management does not anticipate that any of the persons named below will be unable or unwilling to stand for election. All of
the Board&rsquo;s nominees are incumbent directors of the Company.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_004"></A>Information Concerning Director Nominees</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Background information
about the Board&rsquo;s nominees for election, as well as information regarding additional experience, qualifications, attributes
or skills that led the Board to conclude that the nominee should serve on the Board, is set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Christopher Missling, PhD</U>. Christopher
Missling, age 50, has over twenty (20) years of healthcare industry experience in the big pharmaceutical, biotech and investment
banking industries. Most recently, from March, 2007 until his appointment by our Company, Mr. Missling served as the head of healthcare
investment banking at Brimberg &amp; Co. in New York, New York. Also, Mr. Missling served as the Chief Financial Officer of Curis,
Inc. (NASDAQ:CRIS) and ImmunoGen, Inc. (NASDAQ:IMGN). Mr. Missling earned his MS and PhD from the University of Munich and an MBA
from Northwestern University Kellogg School of Management and WHU Otto Beisheim School of Management. He has served as a director
of the Company since July 5, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Athanasios Skarpelos</U>. Athanasios
(Tom) Skarpelos, age 49, is a self-employed investor with 17 years of experience working with private and public companies. For
the past 10 years, he has been focused on biotechnology companies involved in drug discovery and drug development projects. Mr.
Skarpelos was engaged as a consultant to our Company for one year effective August 2, 2010. His experience has led to relationships
with researchers at academic institutes in Europe and North America. Mr. Skarpelos is a founder of Anavex. He has served as a director
of the Company since January 9, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Bernd Metzner, PhD.</U> Bernd Metzner,
age 45, is currently Chief Financial Officer of the Doehler Group, a global producer and provider of technology-based natural ingredients
for the food and beverage industry with sales activities in more than 130 countries. Previously, he was Chief Administration Officer
and member of the Board of Management of Bayer Schering Pharma AG, the pharmaceutical division of $100+ billion market cap company
Bayer AG. In this position, Dr. Metzner had worldwide financial responsibility for the Bayer Pharma Group. During his almost 10-years
with Bayer AG, Dr. Metzner also held several senior international management positions in the corporate finance organization of
Bayer AG, including Chief Financial Officer of Bayer S.p.A. Italy and heading the coordination of the successful spin-off of Lanxess,
a specialty chemicals group. Dr. Metzner started his career at the law firm Flick Gocke Schaumburg and has a degree in business
administration from the University of Siegen. After obtaining his doctorate, he became a chartered accountant. He has served as
a director of the Company since May 7, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Elliot Favus, MD.</U> Elliot Favus,
age 41, is Chief Executive Officer of Favus Institutional Research, a healthcare research firm serving institutional investors.
He has been a healthcare equity research analyst on Wall Street since 2006, starting at Lazard Capital Markets and subsequently
at Och-Ziff Capital Management Group. Prior to working on Wall Street, Dr. Favus was an Instructor in medicine at Mount Sinai School
of Medicine in New York. He attended the University of Michigan (BA, 1996), the University of Chicago Pritzker School of Medicine
(MD, 2001) and the NYU-Bellevue Hospital Internal Medicine Residency Program (2004). He is board-certified in Internal Medicine
(2004) and has 10 years of basic science laboratory experience working on human genetics projects at Harvard Medical School, the
University of Chicago and the University of Pittsburgh. He has served as a director of the Company since May 7, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Steffen Thomas, PhD</U>. Steffen Thomas,
age 50, has over 15 years of experience as a European patent attorney and is currently practicing at Epping Hermann Fischer, a
major intellectual property law firm in Europe. Previously, Dr. Thomas worked for Japan-based Takeda Pharmaceutical Company, the
largest pharmaceutical company in Asia and a top firm worldwide, as an in-house patent attorney. Prior to that, he worked for Nycomed
Pharma, acquired by Takeda in 2011 for approximately USD $10 billion. Dr. Thomas&rsquo; legal practice covers drafting of patent
applications, prosecuting patent applications before national and international patent offices, defending and challenging patents
in opposition, appeal, and nullity proceedings, enforcing patents before the infringement courts, and preparing opinions on patentability
and infringement in the technical field of chemistry. Dr. Thomas has particular expertise in small molecule pharmaceuticals. He
holds MS and PhD degrees in Chemistry from the University of Munich. Dr. Thomas has served as a director of the Company since June
15, 2015.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_005"></A>Corporate Governance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Director Independence</I>.</B>
The Board makes an affirmative determination that those members of its Board that serve as independent directors do not have any
relationships with the Company and its businesses that would impair their independence. In connection with these determinations,
the Board reviews information regarding transactions, relationships and arrangements involving the Company and its businesses and
each director that it deems relevant to independence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We deem that Christopher
Missling, PhD is not independent as that term is defined by NASDAQ 5605(a)(2) because Mr. Missling serves as our President, Chief
Executive Officer, Secretary, and Treasurer. We have also determined that Athanasios Skarpelos is not independent as that term
is defined by NASDAQ 5605(a)(2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We deem that Bernd
Metzner, Elliot Favus and Steffen Thomas are independent as that term is defined by NASDAQ 5605(a)(2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Director Nominations</I>.</B>
Our Board has a Nominating and Corporate Governance Committee that identifies individuals qualified to become Board members and
recommends to the Board proposed nominees for Board membership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Director candidates
are considered based upon a variety of criteria, including demonstrated business and professional skills, experience relevant to
our business and strategic direction, concern for long-term stockholder interests, personal integrity and sound business judgment.
The Board seeks men and women from diverse professional backgrounds who combine a broad spectrum of relevant industry and strategic
experience and expertise that, in concert, offer us and our stockholders diversity of opinion and insight in the areas most important
to us and our corporate mission. However, we do not have a formal policy concerning the diversity of the Board. All director candidates
must have time available to devote to the activities of the Board. We also consider the independence of director candidates, including
the appearance of any conflict in serving as a director. A director who does not meet all of these criteria may still be considered
for nomination to the Board, if our independent directors believe that the candidate will make an exceptional contribution to us
and our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Generally, when evaluating
and recommending candidates for election to the Board, the Board will conduct candidate interviews, evaluate biographical information
and background material and assess the skills and experience of candidates in the context of the then current needs of the Company.
In identifying potential director candidates, the Board may also seek input from the executive officers and may also consider recommendations
by employees, community leaders, business contacts, third-party search firms and any other sources deemed appropriate by such directors.
The Board will also consider director candidates recommended by stockholders to stand for election at the annual meeting of stockholders
so long as such recommendations are submitted in accordance with the procedures described below under &ldquo;<I>Stockholder Recommendations
for Board Candidates</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Board Leadership
Structure. </I></B>Our Board does not have a policy on whether the offices of Chairman of the Board and Chief Executive Officer
should be separate and, if they are to be separate, whether the Chairman of the Board should be selected from among the independent
directors. Our Board believes that it should have the flexibility to make these determinations at any given time in the way that
it believes best to provide appropriate leadership for the Company at that time. Our Board has reviewed our current Board leadership
structure in light of the composition of the Board, the Company&rsquo;s size, the nature of the Company&rsquo;s business, the regulatory
framework under which the Company operates, and other relevant factors. Considering these factors, the Company determined to have
the same individual, Christopher Missling, PhD., serve as Chief Executive Officer and Chairman of the Board. The Board does not
have or appoint a lead independent director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Board Role in
Risk Oversight. </I></B><I> </I>The Board administers its risk oversight function directly. The Board regularly discusses with
management the Company&rsquo;s major risk exposures, their potential financial impact on the Company, and the steps taken to monitor
and control those risks.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_006"></A>The Board and Board Committees</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>The Board</I>.</B>
The Board met four times for meetings during fiscal year 2015. Two of such meetings were regularly scheduled meetings and the other
special board meetings and telephonic calls were held as needed. During fiscal year 2015, each incumbent director attended 75%
or more of the Board meetings for the periods during which each such director served. Directors are not required to attend annual
meetings of our stockholders. We held a special meeting of stockholders in lieu of annual meeting of stockholders in 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Audit Committee and Audit Committee
Financial Experts </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The members of the
Audit Committee are Bernd Metzner (Chairman), Elliot Favus and Steffen Thomas. Our Board has determined that Bernd Metzner is an
&ldquo;audit committee financial expert&rdquo; as defined by applicable SEC and Nasdaq rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Audit Committee
oversees and reports to our Board on various auditing and accounting-related matters, including, among other things, the maintenance
of the integrity of our financial statements, reporting process and internal controls; the selection, evaluation, compensation
and retention of our independent registered public accounting firm; legal and regulatory compliance, including our disclosure controls
and procedures; and oversight over our risk management policies and procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Audit Committee
did not meet during fiscal 2015. The Audit Committee operates under a charter that was adopted by our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Nominating and Corporate Governance Committee</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The members of our
Nominating and Corporate Governance Committee are Bernd Metzner (Chairman) and Elliot Favus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Nominating and
Corporate Governance Committee is appointed by the Board to oversee and evaluate the Board&rsquo;s performance and the Company's
compliance with corporate governance regulations, guidelines and principles, to identify individuals qualified to become Board
members, to recommend to the Board proposed nominees for Board membership, and to recommend to the Board directors to serve on
each standing committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Nominating and
Corporate Governance Committee did not meet during fiscal 2015. The Nominating and Corporate Governance Committee operates under
a charter that was adopted by our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Compensation Committee</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The members of our
Compensation Committee are Bernd Metzner (Chairman) and Elliot Favus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Compensation Committee
assists our Board in discharging its responsibilities relating to compensation of our directors and executive officers. Its responsibilities
include, among other things, reviewing, approving and recommending compensation programs and arrangements applicable to our officers;
determining the objectives of our executive officer compensation programs; overseeing the evaluation of our senior executives;
administering our incentive compensation plans and equity-based plans, including reviewing and granting equity awards to our executive
officers; and reviewing and approving director compensation and benefits. The Compensation Committee can delegate to other members
of our Board, or an officer or officers of the Company, the authority to review and grant stock-based compensation
for employees who are not executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Compensation Committee
has the responsibilities and authority designated by Nasdaq rules. Specifically, the Compensation Committee has the sole discretion
to select and receive advice from a compensation consultant, legal counsel or other adviser and is directly responsible for oversight
of their work. The Compensation Committee must also determine reasonable compensation to be paid to such advisors by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to the formation of our Compensation
Committee, our Board performed the functions that would have been handled by the Compensation Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Compensation Committee met once during
fiscal year 2015. The Compensation Committee operates under a charter that was adopted by our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B><IMG SRC="tlogo.jpg" ALT="">&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_007"></A>Stockholder Recommendations For Board
Candidates</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board will consider
qualified candidates for directors recommended and submitted by stockholders. Submissions that meet the then current criteria for
board membership are forwarded to the Board for further review and consideration. The Board will consider a recommendation only
if appropriate biographical information and background material are provided on a timely basis, accompanied by a statement as to
whether the stockholder or group of stockholders making the recommendation has beneficially owned more than five percent (5%) of
our common stock for at least one (1) year as of the date that the recommendation is made. To submit a recommendation for a nomination,
a stockholder may write to the Board, at our principal office, Attention: Christopher Missling, PhD., Chief Executive Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board will evaluate
any such candidates by following substantially the same process, and applying substantially the same criteria, as for candidates
submitted by Board members, assuming that appropriate biographical and background material is provided for candidates recommended
by stockholders and the process for submitting the recommendation is followed.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_008"></A>Stockholder Communications with the Board</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Stockholders may, at
any time, communicate with any of our directors by mailing a written communication to Anavex Life Sciences Corp., 51 W 52nd
Street, 7th Floor, New York, NY 10019, Attention: Christopher Missling, PhD., Chief Executive Officer. The mailing envelope must
contain a clear notation indicating that the enclosed letter is a &ldquo;Stockholder-Board Communication&rdquo; or &ldquo;Stockholder-Director
Communication.&rdquo; All such letters must identify the author as a stockholder, provide evidence of the sender&rsquo;s stock
ownership and clearly state whether the intended recipients are all members of the Board or a particular director or directors.
The Corporate Secretary will then forward such correspondence, without editing or alteration, to the Board or to the specified
director(s) on or prior to the next scheduled meeting of the Board. The Board will determine the method by which such submissions
will be reviewed and considered. The Board may also request the submitting stockholder to furnish additional information it may
reasonably require or deem necessary to sufficiently review and consider the submission of such stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Vote required</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing Proposal
1 will be approved upon the affirmative vote of the holders of a majority of the Common Stock having voting power present in person
or represented by proxy.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_009"></A>Board Recommendation</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>The Board unanimously
recommends a vote &ldquo;FOR&rdquo; each nominee. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The five (5) nominees
receiving an affirmative vote of the holders of a majority of the common stock having voting power present in person or represented
by proxy shall be elected. This Proposal&nbsp;1 is a &ldquo;non-discretionary&rdquo; or &ldquo;non-routine&rdquo; item, meaning
that brokerage firms cannot vote shares in their discretion on behalf of a client if the client has not given voting instructions.
Accordingly, if you hold your shares in street name and fail to instruct your broker to vote your shares, your shares will not
be counted as votes cast on this Proposal&nbsp;1.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_010"></A>INFORMATION CONCERNING
EXECUTIVE OFFICERS<BR>
WHO ARE NOT DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD NOWRAP>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1pt solid"><b>Name</b></P></td>
    <TD>&nbsp;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Age</b></font></td>
    <TD>&nbsp;</td>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1pt solid"><b>Position</b></P></td></tr>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt; width: 36%"><font style="font-size: 10pt">Sandra Boenisch<sup>(1)</sup></font></td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 8%"><font style="font-size: 10pt">34</font></td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 53%"><font style="font-size: 10pt">Principal Financial Officer </font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">Effective October 1, 2015, the Board appointed Sandra Boenisch, to serve as the Company&rsquo;s
Principal Financial Officer until the earlier of a successor&rsquo;s appointment or her resignation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Sandra Boenisch, CPA, CGA</B>, Ms. Boenisch
is a Chartered Professional Accountant (CPA, CGA) with 14 years of accounting, audit, and financial reporting experience in a variety
of industries, both in the United States and Canada. Ms. Boenisch has been an independent consultant, providing financial reporting
services to a range of public companies in the United States and Canada since January 2012. From 2008 until 2012, Ms. Boenisch
was employed at BDO Canada LLP (Vancouver, BC) where she was hired as a Senior Accountant and was later promoted to Manager, Audit
Assurance. Ms. Boenisch specialized in managing assurance engagements for public companies in the United States and Canada. Prior
to that, Ms. Boenisch worked for a public accounting firm beginning in 2001. As an independent consultant, Ms. Boenisch has acquired
considerable experience in finance, governance, and regulatory compliance. She holds a BComm from Laurentian University.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_011"></A>EXECUTIVE AND DIRECTOR
COMPENSATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our compensation philosophy
is to offer our executive officers compensation and benefits that are competitive and meet our goals of attracting, retaining and
motivating highly skilled management, which is necessary to achieve our financial and strategic objectives and create long-term
value for our stockholders. We believe the levels of compensation we provide should be competitive, reasonable and appropriate
for our business needs and circumstances.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_012"></A>Summary Compensation Table</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Summary Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The particulars of
compensation paid to the following persons for the last two completed fiscal years:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 0.5in; text-align: justify; text-indent: 0in">&nbsp;</td>
    <TD STYLE="width: 0.5in; text-align: justify; text-indent: 0in">a)</td>
    <TD STYLE="text-align: justify; text-indent: 0in">our principal executive officers;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</td>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</td>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</td>
    <TD STYLE="text-align: justify; text-indent: 0in">b)</td>
    <TD STYLE="text-align: justify; text-indent: 0in">each of our two most highly compensated executive officers who were serving as executive officers at the end of the fiscal year ended September 30, 2015 who had total compensation exceeding $100,000; and</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</td>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</td>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</td>
    <TD STYLE="text-align: justify; text-indent: 0in">c)</td>
    <TD STYLE="text-align: justify; text-indent: 0in">up to two additional individuals for whom disclosure would have been provided under (b) but for the fact that the individual was not serving as an executive officer at the end of the most recently completed financial year, who we will collectively refer to as the named executive officers, for our fiscal years ended September 30, 2015 and 2014, are set out in the following summary compensation table:</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold">Name and Principal&nbsp;<BR> Position</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">Year</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Salary&nbsp;<BR> ($)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Bonus&nbsp;<BR> ($)</TD><TD NOWRAP STYLE="font-weight: bold"><SUP>&nbsp;</SUP></TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Stock&nbsp;<BR> Awards&nbsp;<BR> ($)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Option&nbsp;<BR> Awards&nbsp;<BR> ($)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Other&nbsp;<BR> Annual&nbsp;<BR> Compensation&nbsp;<BR> ($)</TD><TD NOWRAP STYLE="font-weight: bold"><SUP>&nbsp;</SUP></TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Total&nbsp;<BR> ($)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; text-align: left"><font style="font-size: 10pt">Christopher Missling, PhD<sup>(1)</sup></font></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: center">2015</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">240,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">1,220,000</TD><TD STYLE="width: 1%; text-align: left"><SUP>(2)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">1,151,309</TD><TD STYLE="width: 1%; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">1,128,064</TD><TD STYLE="width: 1%; text-align: left"><SUP>(4)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">3,739,373</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">President, Chief Executive Officer, and Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">240,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">400,000</TD><TD STYLE="text-align: left"><SUP>(5)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">127,800</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">767,800</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><font style="font-size: 10pt">Sandra Boenisch<sup>(6)</sup></font></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Principal Financial Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-indent: -21.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Christopher Missling was appointed as director, President,
Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer on July 5, 2013.</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">(2)</TD><TD STYLE="text-align: justify">The stock award compensation was recorded in connection with the vesting of restricted stock awarded to
Mr. Missling in connection with Mr. Missling&rsquo;s employment agreement dated July 5, 2013.</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">(3)</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">The option award compensation consists of the grant date fair value of stock options issued to Mr. Missling
during the fiscal year end 2015, which options are vesting over a required service period.</P>


</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(4)</TD><TD STYLE="text-align: justify">The compensation was recorded in connection with the
Company&rsquo;s payment of an income tax withholding obligation arising as a result of the vesting of restricted stock awards
during the year ended September 30, 2015, in accordance with the terms of Mr. Missling&rsquo;s employment agreement dated July
5, 2013.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(5)</TD><TD STYLE="text-align: justify">The bonus was a result of the successful financing
in March 2014.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(6)</TD><TD STYLE="text-align: justify">Sandra Boenisch&rsquo;s employment became effective
on October 1, 2015. Ms. Boenisch has not been paid any compensation or bonuses, or granted any stock or option awards for fiscal
year end 2015 and 2014.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Employment Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Christopher Missling </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with Mr. Missling&rsquo;s
appointment as Chief Executive Officer, the Company and Mr. Missling entered into an employment agreement commencing on July 5,
2013 and ending on July 5, 2016, whereby: (a) the Company shall pay to Mr. Missling an initial monthly base salary of $20,000 with
Mr. Missling being eligible for bonuses and salary increases; (b) Mr. Missling received a sign-on stock option grant; (c) Mr. Missling
shall receive a restricted stock grant subject to certain vesting milestones; (d) Mr. Missling shall be able to participate in
the Company&rsquo;s employee benefit plans; and (e) the Company agreed to indemnify Mr. Missling in connection with his provision
of services to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Sandra Boenisch</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with Ms. Boenisch&rsquo;s
appointment as Principal Financial Officer, the Company and Ms. Boenisch entered into an employment agreement, effective October
1, 2015, whereby: (a) the Company shall pay to Ms. Boenisch an annual base salary of Seventy-Eight Thousand and 00/100 Canadian
Dollars ($78,000 CAD), with Ms. Boenisch being eligible for bonuses which are anticipated to be up to 25% of her annual base salary,
and salary increases; (b) Ms. Boenisch received a sign-on stock option grant of 25,000 shares; and (c) Ms. Boenisch shall be able
to participate in the Company&rsquo;s employee benefit plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_013"></A>Outstanding Equity
Awards at Fiscal Year-End</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth for each
named executive officer and director certain information concerning the outstanding equity awards as of September 30, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="19" STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Option Awards</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Stock Awards</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 8pt">
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Name</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Number
                                         of&nbsp;<br> Securities&nbsp;<br> Underlying&nbsp;<br> Exercisable<br> Options&nbsp;<br>
                                         (#)</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Number
                                         of&nbsp;<br> Securities&nbsp;<br> Underlying&nbsp;<br> Unexercisable&nbsp;<br> Options&nbsp;<br>
                                         (#)</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Equity<br>
                                         Incentive&nbsp;<br> Plan<br> Awards:&nbsp;<br> Number<br> of&nbsp;<br> Securities&nbsp;<br>
                                         Underlying&nbsp;<br> Unexercised&nbsp;<br> Unearned<br> Options&nbsp;<br> (#)</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Option<br>
                                         Exercise&nbsp;<br> Price&nbsp;<br> ($)</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Option&nbsp;<BR> Expiration&nbsp;<BR> Date</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Number<br>
                                         of&nbsp;<br> Shares<br> of&nbsp;<br> Units of<br> Stock&nbsp;<br> that have<br> not&nbsp;<br>
                                         Vested&nbsp;<br> (#)</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Market&nbsp;<br>
                                         Value of&nbsp;<br> Shares or&nbsp;<br> Units of&nbsp;<br> Stock that&nbsp;<br> have not&nbsp;<br>
                                         Vested&nbsp;<br> ($)</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Equity&nbsp;<br>
                                         Incentive&nbsp;<br> Plan&nbsp;<br> Awards:&nbsp;<br> Number&nbsp;<br> of&nbsp;<br> Unearned&nbsp;<br>
                                         Shares,&nbsp;<br> Units<br> or&nbsp;<br> Other&nbsp;<br> Rights&nbsp;<br> that<br> have&nbsp;<br>
                                         not&nbsp;<br> Vested&nbsp;<br> (#)</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">Equity&nbsp;<br>
                                         Incentive&nbsp;<br> Plan&nbsp;<br> Awards:&nbsp;<br> Market or&nbsp;<br> Payout&nbsp;<br>
                                         Value of&nbsp;<br> Unearned&nbsp;<br> Shares,&nbsp;<br> Units or&nbsp;<br> Other&nbsp;<br>
                                         Rights that&nbsp;<br> have not&nbsp;<br> Vested&nbsp;<br> ($)</FONT></TD><TD NOWRAP STYLE="text-align: center; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt">
    <TD STYLE="width: 10%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">Christopher Missling</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">500,000</FONT></TD><TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">Nil</FONT></TD><TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">1.60</FONT></TD><TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 17%; text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">July 5, 2023</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">250,000</FONT></TD><TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">1,410,000</FONT></TD><TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="width: 1%; text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt">
    <TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">31,250</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">93,750</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">Nil</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">1.32</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">May 8, 2024</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt">
    <TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">166,667</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">333,333</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">Nil</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0.92</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">April 2, 2025</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt">
    <TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">187,500</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">5.04</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">September 18, 2025</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 8pt">
    <TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt">
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">Athanasios Skarpelos</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">16,667</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">33,333</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0.92</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">April 2, 2025</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">N/A</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">N/A</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 8pt">
    <TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt">
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">Bernd Metzner</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">16,667</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">33,333</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0.92</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">April 2, 2025</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">N/A</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">N/A</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 8pt">
    <TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt">
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">Elliot Favus</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">16,667</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">33,333</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0.92</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">April 2, 2025</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">N/A</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">N/A</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 8pt">
    <TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 8pt">
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">Steffen Thomas</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">50,000</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">1.68</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-left: 2.25pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">June 15, 2025</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">N/A</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-size: 8pt"><FONT STYLE="font-size: 8pt">N/A</FONT></TD><TD STYLE="text-align: left; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board adopted the 2015 Omnibus Incentive
Plan (the &ldquo;<U>2015 Plan</U>&rdquo;), which was approved September 18, 2015. The 2015 Plan provides for the grant of stock
options and restricted stock awards to directors, officers, employees and consultants of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The maximum number of our common shares
reserved for issue under the 2015 Plan is 6,050,553 shares, subject to adjustment in the event of a change of the Company&rsquo;s
capitalization. As a result of the adoption of the 2015 Plan, no further option awards will be granted under any previously existing
stock option plan. Stock option awards previously granted under previously existing stock option plans remain outstanding in accordance
with their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2015 Plan is administered by our Board,
except that it may, in its discretion, delegate such responsibility to a committee of such Board. The exercise price is determined
by the Board at the time of grant but in no event will be less than 110% of fair market value of the Company&rsquo;s shares of
Common Stock on the grant date. Stock options may be granted under the 2015 Plan for an exercise period of up to ten years from
the date of grant of the option or such lesser periods as may be determined by the board, subject to earlier termination in accordance
with the terms of the 2015 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B><IMG SRC="tlogo.jpg" ALT="">&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_014"></A>SECTION 16(<FONT STYLE="text-transform: uppercase">a</FONT>)
BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Section 16(a) of the Securities Exchange
Act of 1934 requires our executive officers and directors and persons who own more than 10% of our common stock to file with the
Securities and Exchange Commission initial statements of beneficial ownership, reports of changes in ownership and annual reports
concerning their ownership of our common stock and other equity securities, on Forms 3, 4 and 5 respectively. Executive officers,
directors and greater than 10% shareholders are required by the Securities and Exchange Commission regulations to furnish us with
copies of all Section 16(a) reports that they file.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based solely on our review of the copies
of such forms received by us, or written representations from certain reporting persons, we believe that during fiscal year ended
September 30, 2015, all filing requirements applicable to our officers, directors and greater than 10% percent beneficial owners
were complied with, except as follows: (1) Christopher Missling did not timely file two Form 4 reports to report two transactions;
(2) Bernd Metzner did not timely file one Form 4 report to report one transaction; (3) Elliot Favus did not timely file one Form
4 report to report one transaction; and (4) Athanasios Skarpelos did not timely file one Form 4 report to report one transaction.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_015"></A>SECURITY OWNERSHIP
OF CERTAIN BENEFICIAL OWNERS<BR>
AND MANAGEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth, as of March
8, 2016 certain information with respect to the beneficial ownership of our common stock by each stockholder known by us to be
the beneficial owner of more than 5% of our common stock and by each of our current directors and our named executive officers
and by our current directors and executive officers as a group. We have determined the number and percentage of shares beneficially
owned by such person in accordance with Rule 13d-3 under the Securities Exchange Act of 1934. This information does not necessarily
indicate beneficial ownership for any other purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.25in">
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center"><font style="font-size: 10pt"><b>Title of class</b></font></td>
    <TD NOWRAP>&nbsp;</td>
    <TD NOWRAP STYLE="text-align: center"><font style="font-size: 10pt"><b>Name and address of</b></font><br>
<font style="font-size: 10pt"><b>beneficial owner</b></font></td>
    <TD NOWRAP>&nbsp;</td>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center"><font style="font-size: 10pt"><b>Amount and nature of</b></font><br>
<font style="font-size: 10pt"><b>beneficial ownership</b></font></td>
    <TD NOWRAP>&nbsp;</td>
    <TD NOWRAP>&nbsp;</td>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center"><font style="font-size: 10pt"><b>Percent of</b></font><br>
<font style="font-size: 10pt"><b>class <sup>(1)</sup></b></font></td>
    <TD NOWRAP>&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 27%"><font style="font-size: 10pt">Common Stock</font></td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 36%; padding-left: 2.25pt"><font style="font-size: 10pt">Athanasios Skarpelos<b> </b>(Director)</font><br>
<font style="font-size: 10pt">2, Place du Port </font><br>
<font style="font-size: 10pt">Geneva, Switzerland CH 1204 </font></td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">1,339,791</font></td>
    <TD STYLE="vertical-align: bottom; width: 1%"><font style="font-size: 10pt"><sup>(2)</sup></font></td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">3.75</font></td>
    <TD STYLE="vertical-align: bottom; width: 1%"><font style="font-size: 10pt">%</font></td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="padding-left: 2.25pt">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Common Stock</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 2.25pt"><font style="font-size: 10pt">Christopher Missling (CEO/Director)</font><br>
<font style="font-size: 10pt">51 W 52nd Street, </font><br>
<font style="font-size: 10pt">7th floor </font><br>
<font style="font-size: 10pt">New York, NY 10019</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,961,583</font></td>
    <TD STYLE="vertical-align: bottom"><font style="font-size: 10pt"><sup>(3)</sup></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5.35</font></td>
    <TD STYLE="vertical-align: bottom"><font style="font-size: 10pt">%</font></td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="padding-left: 2.25pt">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Common Stock</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 2.25pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bernd Metzner (Director)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">51 W 52<sup>nd</sup> Street,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7<sup>th</sup> Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10019</P></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">58,333</font></td>
    <TD STYLE="vertical-align: bottom"><font style="font-size: 10pt"><sup>(4)</sup></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">*</td>
    <TD STYLE="vertical-align: bottom"></td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="padding-left: 2.25pt">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Common Stock</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 2.25pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Elliot Favus (Director)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">51 W 52<sup>nd</sup> Street,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7<sup>th</sup> Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10019</P></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">61,333</font></td>
    <TD STYLE="vertical-align: bottom"><font style="font-size: 10pt"><sup>(5)</sup></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">*</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="padding-left: 2.25pt">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Common Stock</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 2.25pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Steffen Thomas (Director)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">51 W 52<sup>nd</sup> Street,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7<sup>th</sup> Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10019</P></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
    <TD STYLE="vertical-align: bottom"><font style="font-size: 10pt"><sup>(6)</sup></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="padding-left: 2.25pt">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Common Stock</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 2.25pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sandra Boenisch (Principal Financial Officer)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">51 W 52<sup>nd</sup> Street,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7<sup>th</sup> Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10019</P></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">27,130</font></td>
    <TD STYLE="vertical-align: bottom"><font style="font-size: 10pt"><sup>(7)</sup></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">*</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="padding-left: 2.25pt">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Common Stock</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 2.25pt"><font style="font-size: 10pt"><b>Directors &amp; Executive Officers as a group (6 persons)</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,448,170</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">9.37</font></td>
    <TD STYLE="vertical-align: bottom"><font style="font-size: 10pt">%</font></td></tr>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 2.25pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Common Stock</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; padding-left: 2.25pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">*Less than 1%</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font-size: 10pt">(1)</font></td>
    <td style="text-align: justify"><font style="font-size: 10pt">Percentage of ownership is based on 35,695,572 shares of our common stock issued and outstanding as of March 8, 2016. Except as otherwise indicated, we believe that the beneficial owners of the common stock listed above, based on information furnished by such owners, have sole investment and voting power with respect to such shares, subject to community property laws where applicable. Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Shares of common stock subject to options or warrants currently exercisable or exercisable within 60 days, are deemed outstanding for purposes of computing the percentage ownership of the person holding such option or warrants, but are not deemed outstanding for purposes of computing the percentage ownership of any other person.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font-size: 10pt">(2)</font></td>
    <td style="text-align: justify"><font style="font-size: 10pt">Includes options to purchase 33,333 shares of our common stock at $0.92 per share that have vested or will vest within 60 days. Excludes options to purchase 16,667 shares of our common stock at $0.92 per share that do not vest within 60 days.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font-size: 10pt">(3)</font></td>
    <td style="text-align: justify"><font style="font-size: 10pt">Includes options to purchase 500,000 shares of our common stock at $1.60 that have vested, options to purchase 62,500 shares of our common stock at $1.32 that have vested or will vest within 60 days, options to purchase 333,333 shares of our common stock at $0.92 per share that have vested or will vest within 60 days, and options to purchase 62,500 shares of our common stock at $5.04. Excludes options to purchase 62,500 shares of our common stock at $1.32 per share, options to purchase 166,667 shares of our common stock at $0.92 per share and options to purchase 125,000 shares of our common stock at $5.04 per share that do not vest within 60 days.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 24px"><font style="font-size: 10pt">(4)</font></td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Includes&nbsp;options to purchase 25,000 shares of our common stock at $1.20 and options to purchase 33,333 shares of our common stock at $0.92 that are vesting within 60 days. Excludes options to purchase 12,500 shares of our common stock at $1.20 and options to purchase 16,667 shares of our common stock at $0.92 that are not vesting within 60 days.</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD><font style="font-size: 10pt">(5)</font></td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Includes&nbsp;options to purchase 25,000 shares of our common stock at $1.20, options to purchase 33,333 shares of our common stock at $0.92, options to purchase 1,500 shares of our common stock at $5.64 and options to purchase 1,500 shares of our common stock at $5.47 that have vested or are vesting within 60 days. Excludes options to purchase 12,500 shares of our common stock at $1.20 and options to purchase 16,667 shares of our common stock at $0.92 that are not vesting within 60 days.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</td>
    <TD STYLE="width: 24px"><font style="font-size: 10pt">(6)</font></td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Excludes options to purchase 50,000 shares of our common stock at $1.68 per share that do not vest within 60 days.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</td>
    <TD STYLE="width: 24px"><font style="font-size: 10pt">(7)</font></td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Includes options to purchase 4,167 shares of our common stock at $5.68 per share that have vested or will vest within 60 days. Excludes options to purchase 20,833 shares of our common stock at $5.68 per share that do not vest within 60 days.</font></td></tr>
</table>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_016"></A>PROPOSAL&nbsp;2 &ndash;
TO RATIFY THE APPROVAL AND ADOPTION OF THE 2015 OMNIBUS INCENTIVE PLAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">We are seeking
your approval for our 2015 Plan. On September 18, 2015, our Board approved the 2015 Plan, and recommended that it
be submitted to our stockholders for their approval at the 2016 Meeting. Additionally, stockholder approval of the 2015 Plan is
required (i) to comply with certain exclusions from the limitations of Section 162(m) of the Internal Revenue Code of 1986, or
the Code, and (ii) to comply with the incentive stock option rules under Section 422 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">Our Board believes that approval of the 2015 Plan is necessary to provide us with a sufficient number of shares to attract, retain
and motivate employees, directors and consultants and to give us the flexibility we need to make various types of grants with respect
to equity-based compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><B><I>The Board recommends a vote &ldquo;for&rdquo; the 2015 Plan.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">The following
is a summary of certain principal features of the 2015 Plan. This summary is qualified in its entirety by reference to the complete
text of the 2015 Plan. Stockholders are urged to read the actual text of the 2015 Plan in its entirety which is set forth as <U>Appendix
A</U> to this proxy statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><A NAME="a_017"></A>Purposes</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">The purposes
of the 2015 Plan are to enable us to attract and retain highly qualified personnel who will contribute to our success and to provide
incentives to participants in the 2015 Plan that are linked directly to increases in stockholder value.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><A NAME="a_018"></A>Shares
Available for Issuance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">The maximum
number of our common shares reserved for issue under the plan is 6,050,553 shares subject to adjustment in the event of a change
of the Company&rsquo;s capitalization. As a result of the adoption of the 2015 Plan, no further option awards will be granted under
any previously existing stock option plan. Stock option awards previously granted under previously existing stock option plans
remain outstanding in accordance with their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">As of the date
of this proxy statement, the following awards have been granted to our executive officers and directors under the 2015 Plan:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Name and Position</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of<BR> Options</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; text-align: left; text-indent: -10pt; padding-left: 10pt">Christopher Missling, Chief Executive Officer</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">187,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Sandra Boenisch, Principal Financial Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">All current executive officers as a group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">212,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">All current non-employee directors as a group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">All non-executive officer employees as a group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in; border: white 1pt solid">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in; border: white 1pt solid"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in; border: white 1pt solid">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><A NAME="a_019"></A>Administration</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">The 2015 Plan will be administered by our Board or a committee delegated by our Board (the &ldquo;<U>Administrator</U>&rdquo;).
The Administrator will have full authority to determine the terms and conditions of awards granted under the 2015 Plan.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">&nbsp;</P>


<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;<IMG SRC="tlogo.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in; border: white 1pt solid"><A NAME="a_020"></A>Eligibility</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt; border: white 1pt solid">The
persons eligible to receive awards under the 2015 Plan are the officers, non-employee directors, employees, consultants, and other
persons who provide services to us or any related entity. As of September 30, 2015, we had four non-employee directors, one officer,
and six full-time employees. Ms. Boenisch was appointed as the Company&rsquo;s Principal Financial Officer, effective October 1,
2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><A NAME="a_021"></A>Types of Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt; border: white 1pt solid">Under
the 2015 Plan, the Administrator is authorized to award:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"><I>Stock Options and
Stock Appreciation Rights.</I> The Administrator is authorized to grant stock options, including both incentive stock options (&ldquo;<U>ISOs</U>&rdquo;),
which can result in potentially favorable tax treatment to the participant, and non-qualified stock options, and stock appreciation
rights entitling the participant to receive the amount by which the fair market value of a share of our common stock on the date
of exercise exceeds the grant price of the stock appreciation right. The exercise price per share subject to an option and the
grant price of a stock appreciation right are determined by the Board, but must not be less than the fair market value of a share
of our Common Stock on the date of grant. For purposes of the 2015 Plan, the term &ldquo;fair market value&rdquo; shall be equal
to (i) if the Common Stock is listed on a national securities exchange, the closing or last price of the Common Stock on the composite
tape or other comparable reporting system for the applicable date, or if the applicable date is not a trading day, the trading
day immediately preceding the applicable date, or (ii) if the Common Stock is not then listed on a national securities exchange,
the closing or last price of the Common Stock quoted by an established quotation service for over-the-counter securities or (iii)
if the Common Stock is not then listed on a national securities exchange or quoted by an established quotation service for over-the-counter
securities, or the value of the Common Stock is not otherwise determinable, such value as determined by the Board. The maximum
term of each option or stock appreciation right, the times at which each option or stock appreciation right will be exercisable,
and provisions requiring forfeiture of unexercised options or stock appreciation rights at or following termination of employment
generally are fixed by the Administrator, except that no option or stock appreciation right may have a term exceeding ten years.
Methods of exercise and settlement and other terms of the stock appreciation right are determined by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"><I>Restricted Stock.</I>
The Board is authorized to grant restricted stock. Restricted stock is a grant of shares of our Common Stock which may not be sold
or disposed of, and which shall be subject to such risks of forfeiture and other restrictions as the Board may impose. A participant
granted restricted stock generally has all of the rights of a shareholder of the Company, unless otherwise determined by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"><I>&nbsp;</I></P>


<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><I><IMG SRC="tlogo.jpg" ALT="">&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt"><I>Performance
Awards</I>. The Compensation Committee is authorized to grant performance awards to participants on terms and conditions established
in the 2015 Plan. Performance awards may be issued in cash, shares, other awards or other property, as determined by the Compensation
Committee. The performance goals for performance awards shall consist of one or more business criteria and a targeted level or
levels of performance with respect to each of such criteria, as specified by the Compensation Committee. The performance criteria
shall be based on such measure or measures of performance, which may include, but need not be limited to, the performance of the
participant, the Company, or an affiliate of the Company. Performance awards are intended to be granted to &ldquo;covered employees&rdquo;
within the meaning of Section&nbsp;162(m), which person will be designated by the Compensation Committee, at the time of grant
of performance awards, as likely to be a covered employee with respect to that fiscal year or any subsequent fiscal year.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><A NAME="a_022"></A>Other Terms of Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">Awards are
generally subject to early termination upon the termination of employment or other relationship of the participant with the Company,
whether such termination is at the Company&rsquo;s option or as a result of the death or disability of the participant. Generally,
in the event of a participant&rsquo;s termination for cause, all outstanding awards shall be forfeited.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><A NAME="a_023"></A>Amendment of the 2015 Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">The Board may,
at any time, amend, suspend or terminate the 2015 Plan as to any awards that have not been made. An amendment shall be contingent
on approval of the stockholders to the extent stated by the Board, required by applicable law or required by applicable securities
exchange listing requirements. No awards shall be made after the 2015 Plan has been terminated. The applicable terms and conditions
of the 2015 Plan, and any terms and conditions applicable to awards granted prior to the termination date shall survive the termination
of the 2015 Plan and continue to apply to such awards. The 2015 Plan may not be amended, suspended or terminated without the consent
of a grantee if such amendment, suspension or termination would materially impair rights or obligations under any award that was
awarded prior to the termination date. Unless earlier terminated by the Board, the 2015 Plan will terminate on September 18, 2025.
Termination of the 2015 Plan will not in any manner impair or adversely affect any award outstanding at the time of termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><A NAME="a_024"></A>The Board&rsquo;s Right to Modify
Benefits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">Any award granted
may be converted, modified, forfeited, or canceled, in whole or in part, by the Board if and to the extent permitted in the 2015
Plan, or applicable agreement entered into in connection with an award grant or with the consent of the participant to whom such
award was granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><A NAME="a_025"></A>Change in Control</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">An award agreement for
non-employee directors may provide that, upon a &ldquo;change in control,&rdquo; all or any portion of the award shall automatically
become immediately vested and exercisable, that restrictions relating to the award shall lapse, that the award shall become immediately
payable, or any specified performance goals with respect to outstanding Awards shall be deemed to be satisfied at target.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">For awards granted to
any other service providers, except as may otherwise be provided in the applicable award agreement, either of the following provisions
shall apply, depending on whether, and the extent to which, such awards are assumed, converted or replaced by the resulting entity
in a change in control: (i) if the awards are not assumed, converted or replaced by the resulting entity in the change in control,
then upon the change in control the outstanding awards that may be exercised shall become fully exercisable, all restrictions with
respect to such outstanding awards, other than for performance awards, shall lapse and become vested and non-forfeitable, and for
any outstanding performance awards the target payout opportunities attainable under such awards shall be deemed to have been fully
earned as of the change in control based upon the greater of (A) an assumed achievement of all relevant performance goals at the
&ldquo;target&rdquo; level or (B) the actual level of achievement of all relevant performance goals against target as of the Company&rsquo;s
fiscal quarter end preceding the change in control and the award shall become vested pro rata based on the portion of the applicable
performance period completed through the date of the change in control; or (ii) if the awards are assumed, converted or replaced
by the resulting entity in the change in control, if, within two years after the date of the change in control, the service provider&rsquo;s
service is terminated, then such outstanding awards that may be exercised shall become fully exercisable, all restrictions with
respect to such outstanding awards, other than for performance awards, shall lapse and become vested and non-forfeitable, and for
any outstanding performance awards the target payout opportunities attainable under such awards shall be deemed to have been fully
earned as of the termination of service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>


<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">A change of control
will be deemed to have occurred if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 3%; text-align: justify"><font style="font-size: 10pt">&bull;</font></td>
    <TD STYLE="text-align: justify; width: 94%"><font style="font-size: 10pt">any person (other than a current stockholder or holder of rights entitling such holder to acquire our securities or one or more employee benefit plans maintained by, or the majority interest in which is held by the Company) acquires beneficial ownership of 50% or more of the voting power of our then-outstanding voting securities, or </font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 3%; text-align: justify">&nbsp;</td>
    <td style="width: 3%; text-align: justify"><font style="font-size: 10pt">&bull;</font></td>
    <td style="width: 94%; text-align: justify"><font style="font-size: 10pt">we are a party to a merger, consolidation, liquidation, dissolution or sale of all or substantially all of our assets, other than a merger in which we are the surviving corporation and such merger does not result in any other manner in a change in control; or</font></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: justify">&nbsp;</td>
    <td style="text-align: justify">&nbsp;</td>
    <td style="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: justify">&nbsp;</td>
    <td style="text-align: justify"><font style="font-size: 10pt">&bull;</font></td>
    <td style="text-align: justify"><font style="font-size: 10pt">During any period of 24 consecutive months, certain incumbent directors cease to constitute a majority of the Board.</font></td></tr>
</table>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border: white 1pt solid">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_026"></A>Section 162 Limitations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt; border: white 1pt solid">Section
162(m) to the Code, generally disallows a public company&rsquo;s tax deduction for compensation to covered employees in excess
of $1.0 million in any tax year beginning on or after January 1, 1994. Compensation that qualifies as &ldquo;performance-based
compensation&rdquo; is excluded from the $1.0 million deductibility cap, and therefore remains fully deductible by the company
that pays it. We intend that awards granted to employees under the 2015 Plan whom the Board expects to be covered employees at
the time a deduction arises in connection with such options, may, if and to the extent so intended by the Board, be granted in
a manner that will qualify as &ldquo;performance-based compensation,&rdquo; so that such awards would not be subject to the Section
162(m) deductibility cap of $1.0 million. Future changes in Section 162(m) or the regulations thereunder may adversely affect our
ability to ensure that awards under the 2015 Plan will qualify as &ldquo;performance-based compensation&rdquo; that is fully deductible
by us under Section 162(m).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: -10pt; border: white 1pt solid"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: -10pt"><B>Vote Required</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing Proposal
2 will be approved upon the affirmative vote of the holders of a majority of the Common Stock having voting power present in person
or represented by proxy.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><A NAME="a_027"></A>Board Recommendation</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>The Board unanimously
recommends a vote &ldquo;FOR&rdquo; this Proposal&nbsp;2. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Proposal&nbsp;2
is a &ldquo;non-discretionary&rdquo; or &ldquo;non-routine&rdquo; item, meaning that brokerage firms cannot vote shares in their
discretion on behalf of a client if the client has not given voting instructions. Accordingly, if you hold your shares in street
name and fail to instruct your broker to vote your shares, your shares will not be counted as votes cast on this Proposal&nbsp;2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B><IMG SRC="tlogo.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_028"></A>PROPOSAL&nbsp;3 &ndash;
RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our stockholders are
being provided the opportunity to ratify the Board&rsquo;s appointment of BDO USA, LLP as the Company&rsquo;s independent registered
public accounting firm to perform independent audit services beginning with the fiscal year ending September 30, 2016.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_029"></A>General</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board has appointed
BDO USA, LLP to examine our financial statements for 2016. The selection of BDO USA, LLP as the independent registered public accounting
firm for 2016 is being presented to our stockholders for ratification at the 2016 Meeting. Representatives of BDO USA, LLP are
not expected to be present at the 2016 Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the fiscal year
ended September 30, 2015 and 2014, there were no disagreements with BDO USA, LLP on any matter of accounting principles or practices,
financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of BDO
USA, LLP, would have caused it to make reference to the subject matter of the disagreements in connection with its report. During
the fiscal years ended September 30, 2015 and 2014 there have been no reportable events of the type required to be disclosed by
Item 304(a)(1)(v) of Regulation S-K.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_030"></A>Audit and Non-Audit Fees</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">The following table
sets forth the aggregate fees billed or expected to be billed to our Company for professional services rendered by our independent
registered public accounting firm, for the fiscal years ended September 30, 2015 and 2014:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: center">Audit Fees</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">98,490</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">86,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">Audit-Related Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">22,358</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">29,125</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">Tax Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">All Other Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">Total Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">120,848</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">115,125</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Audit Fees</U>. Consist of fees billed
for professional services rendered for the audits of our financial statements, reviews of our interim financial statements included
in quarterly reports, services performed in connection with regular filings with the Securities and Exchange Commission and other
services that are normally provided by our independent registered public accounting firm for the fiscal years ended September 30,
2015 and 2014, in connection with statutory and regulatory filings or engagements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Audit Related Fees</U>. Consists of
fees billed for professional services rendered in connection with the Company&rsquo;s Registration Statement filings on Form S-1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;<IMG SRC="tlogo.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Tax Fees</U>. Consist of fees billed for the preparation
of corporate tax returns</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Policy on Pre-Approval by Audit Committee of Services
Performed by Independent Registered Public Accounting Firm</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board pre-approves all services provided by our independent registered public accounting firm. All of the above services and fees were
reviewed and approved by our Board before the respective services were rendered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board has considered
the nature and amount of fees billed or expected to be billed by BDO USA, LLP and believes that the provision of services for activities
unrelated to the audit was compatible with maintaining BDO USA, LLP&rsquo;s independence.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_031"></A>Vote Required for Approval</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing Proposal
3 will be approved upon the affirmative vote of the holders of a majority of the Common Stock having voting power present in person
or represented by proxy.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_032"></A>Board Recommendation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board unanimously
recommends a vote &ldquo;FOR&rdquo; the ratification of BDO USA, LLP as its independent registered public accounting firm for fiscal
year 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Proposal&nbsp;3
is a &ldquo;discretionary&rdquo; or &ldquo;routine&rdquo; item, meaning that brokerage firms can vote shares in their discretion
on behalf of a client if the client has not given voting instructions.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;<IMG SRC="tlogo.jpg" ALT=""></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_033"></A>FUTURE STOCKHOLDER
PROPOSALS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To have a proposal
intended to be presented at our 2017 annual meeting of stockholders be considered for inclusion in the proxy statement and form
of proxy relating to that meeting, a stockholder must deliver written notice of such proposal in writing to the Corporate Secretary
at our corporate headquarters no later than December 2, 2016 (unless the date of the 2017 annual meeting of Stockholders is not
within thirty (30) days of May 6, 2017, in which case the proposal must be received no later than a reasonable period of time before
we begin to print and send our proxy materials for our 2016 annual meeting). Such proposal must also comply with the requirements
as to form and substance established by the SEC for such a proposal to be included in the proxy statement. We reserve the right
to reject, rule out of order or take other appropriate action with respect to any proposal that does not comply with these and
other applicable requirements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_034"></A>NO DISSENTERS&rsquo;
RIGHTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Nevada Revised
Statutes, our holders of Common Stock are not entitled to dissenters' rights with respect to any of the Proposals, and we will
not independently provide such holders with any such right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;<IMG SRC="tlogo.jpg" ALT=""></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_035"></A>TRANSACTIONS WITH
RELATED PERSONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There have been no transactions since October
1, 2014, and there currently are no proposed transactions, in which we were or are to be a participant and the amount involved
exceeds the lesser of $120,000 or one percent of the average of our total assets at year end for the last two completed fiscal
years, and in which any of the following persons had or will have a direct or indirect material interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: top; width: 0.25in; text-align: right"><font style="font-size: 10pt">i. </font></td>
    <TD STYLE="vertical-align: top; width: 0.25in; text-align: right">&nbsp;</td>
    <TD><font style="font-size: 10pt">any director or executive officer of our company;</font></td></tr>
<tr>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top; text-align: right"><font style="font-size: 10pt">ii. </font></td>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</td>
    <TD><font style="font-size: 10pt">any beneficial owner of shares carrying more than 5% of the voting rights attached to our outstanding shares of common stock; and</font></td></tr>
<tr>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top; text-align: right"><font style="font-size: 10pt">iii. </font></td>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</td>
    <TD><font style="font-size: 10pt">any member of the immediate family (including spouse, parents, children, siblings and in-laws) of any of the foregoing persons.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_036"></A>CODE OF ETHICS AND
CONDUCT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board adopted a
code of business ethics and conduct (the &ldquo;<U>Code of Ethics</U>&rdquo;), applicable to all of our executives, directors and
employees. The Code of Ethics is available in print to any stockholder that requests a copy. Copies may be obtained by contacting
Investor Relations at our corporate headquarters. Our Code of Ethics is also available on our website at <I><U>www.anavex.com</U></I>.
We intend to make any disclosures regarding amendments to, or waivers from, the Code of Business Conduct required under Form&nbsp;8-K
by posting such information on our website.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_037"></A>OTHER MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We know of no other
matters to be submitted to the stockholders at the 2016 Meeting. If any other matters properly come before the stockholders at
the meeting, the persons named in the enclosed form of proxy will vote the shares they represent in their discretion.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_038"></A>INCORPORATION OF
CERTAIN INFORMATION BY REFERENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The rules of the SEC
allow the Company to &ldquo;incorporate by reference&rdquo; into this proxy statement certain information that we have filed with
the SEC. This means that we can disclose important information to our stockholders by referring the stockholders to another document.
The information incorporated by reference into this proxy statement is an important part of this proxy statement and is considered
to be part of this proxy statement from the date we file that information with the SEC. Any reports filed by us with the SEC after
the date of this proxy statement will automatically update and, where applicable, supersede any information contained in this proxy
statement or incorporated by reference into this proxy statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Items&nbsp;5, 6, 7,
7A, 8 and 9 of the Company&rsquo;s Annual Report for the year ended September 30, 2015 filed by the Company with the SEC and the
Company&rsquo;s Current Reports on Form&nbsp;8-K filed with the SEC since September 30, 2015 are incorporated by reference into
this proxy statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A copy of any of the
documents referred to above will be furnished, without charge, by writing to Anavex Life Sciences Corp.,  Attention: Investor
Relations, 51 W 52nd Street, 7th Floor, New York, NY 10019. The documents referred to above are also available from the EDGAR filings
that can be obtained through the SEC&rsquo;s website at <I><U>http://www.sec.gov</U></I> or our website at <I><U>www.anavex.com</U></I>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B><IMG SRC="tlogo.jpg" ALT="">&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_039"></A>FORM 10-K ANNUAL
REPORT TO STOCKHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">On December 29, 2015,
the Company filed with the SEC its Annual Report on Form 10-K for the fiscal year ended September 30, 2015. We have enclosed the
Annual Report with this proxy statement. The Annual Report includes our audited financial statements for the fiscal year ended
September 30, 2015, along with other financial information and management discussion which we urge you to read carefully. As filed
with the SEC, our Annual Report contains the following two exhibits which are not being furnished herewith, but which we will
provide free of charge upon request: (1) 2015 Omnibus Incentive Plan (a copy of which is an Appendix to this proxy statement),
and (2) Employment Agreement, dated as of October 1, 2015, by and between the Company and Sandra Boenisch.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 15pt">You can also obtain, free of charge, a copy of our Annual Report and all exhibits thereto by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">writing to:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">Anavex Life Sciences Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">51 W 52<SUP>nd </SUP>Street, 7<SUP>th </SUP>Floor, New
York, NY 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attention: Christopher U. Missling, PhD., Chief Executive
Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&bull;</TD><TD STYLE="text-align: justify">telephoning us at: 866.505.2895</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15.1pt">You can obtain a copy
of our Annual Report and other periodic filings that we make with the SEC at <I><U>www.anavex.com</U></I> or from the SEC&rsquo;s
EDGAR database at <I><U>http://www.sec.gov</U></I>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><A NAME="a_040"></A>2016
MEETING PROXY MATERIALS RESULTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Copies of this proxy
statement and proxy materials ancillary hereto may be found on our website at <I><U>www.anavex.com</U></I> and at <U>www.proxyvote.com</U>.
We intend to publish final results from the 2016 Meeting in a Current Report on Form&nbsp;8-K, which will be filed with the SEC
within four (4) business days from the 2016 Meeting, or as amended thereafter. You may obtain a copy of this and other reports
free of charge at or the SEC at (800) 732-0330 or <I><U>http://www.sec.gov</U></I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 15pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><A NAME="a_041"></A>DELIVERY
OF DOCUMENTS TO STOCKHOLDERS SHARING AN ADDRESS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Only one Proxy Statement
is being delivered to two (2) or more stockholders who share an address, unless the Company has received contrary instruction from
one (1) or more of such stockholders. The Company will promptly deliver, upon written or oral request, a separate copy of the proxy
statement to a stockholder at a shared address to which a single copy of the document was delivered. If you would like to request
additional copies of the proxy statement, or if in the future you would like to receive multiple copies of information or proxy
statements, or annual reports, or, if you are currently receiving multiple copies of these documents and would, in the future,
like to receive only a single copy, please so instruct the Company by writing to us at 51 W 52nd Street, 7th Floor, New York, NY
10019 Attention:&nbsp;&nbsp;Christopher Missling, PhD or telephoning us at 866.505.2895.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><B>&ldquo;APPENDIX A&rdquo;</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">anavex
life sciences corp.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">2015 OMNIBUS INCENTIVE
PLAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Anavex Life Sciences Corp. sets forth herein
the terms and conditions of its 2015 Omnibus Incentive Plan, as follows:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">1.</TD><TD STYLE="text-align: justify">PURPOSE</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Plan is intended to enhance the Company&rsquo;s
and its Affiliates&rsquo; ability to attract and retain highly qualified officers, Non-Employee Directors, key employees and Consultants,
and to motivate such officers, Non-Employee Directors, key employees and Consultants to serve the Company and its Affiliates and
to expend maximum effort to improve the business results and earnings of the Company, by providing to such persons an opportunity
to acquire or increase a direct proprietary interest in the operations and future success of the Company. To this end, the Plan
provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock,
other share-based awards and cash awards. Any of these awards may, but need not, be made as performance incentives to reward attainment
of performance goals in accordance with the terms and conditions hereof. Stock options granted under the Plan may be non-qualified
stock options or incentive stock options, as provided herein. Upon becoming effective, the Plan replaces, and no further awards
shall be made under, the Prior Plan.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">2.</TD><TD STYLE="text-align: justify">DEFINITIONS</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For purposes of interpreting the Plan and
related documents (including Award Agreements), the following definitions shall apply:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-style: normal">2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Affiliate&rdquo;
<FONT STYLE="font-weight: normal">means any company or other trade or business that &ldquo;controls,&rdquo; is &ldquo;controlled
by&rdquo; or is &ldquo;under common control&rdquo; with the Company within the meaning of Rule 405 of Regulation C under the Securities
Act, including any Subsidiary.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Annual
Incentive Award&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means a cash-based Performance Award with a performance
period that is the Company&rsquo;s fiscal year or other 12-month (or shorter) performance period as specified under the terms
and conditions of the Award as approved by the Board.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-style: normal">2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Award&rdquo;
<FONT STYLE="font-weight: normal">means a grant of an Option, SAR, Restricted Stock, RSU, Other Share-based Award or cash award
under the Plan.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Award
Agreement&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means a written agreement between the Company and a Grantee,
or notice from the Company or an Affiliate to a Grantee that evidences and sets out the terms and conditions of an Award.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Board&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means the Board of Directors of the Company.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Cause&rdquo;
<FONT STYLE="font-weight: normal">shall be defined as that term is defined in the Grantee&rsquo;s offer letter or other applicable
employment agreement; or, if there is no such definition, &ldquo;Cause&rdquo; means, unless otherwise provided in the applicable
Award Agreement: (i)&nbsp;the commission of any act by the Grantee constituting financial dishonesty against the Company or its
Affiliates (which act would be chargeable as a crime under applicable law); (ii)&nbsp;the Grantee&rsquo;s engaging in any other
act of dishonesty, fraud, intentional misrepresentation, moral turpitude, illegality or harassment that would (a)&nbsp;materially
adversely affect the business or the reputation of the Company or any of its Affiliates with their respective current or prospective
customers, suppliers, lenders or other third parties with whom such entity does or might do business or (b)&nbsp;expose the Company
or any of its Affiliates to a risk of civil or criminal legal damages, liabilities or penalties; (iii)&nbsp;the repeated failure
by the Grantee to follow the directives of the Chief Executive Officer of the Company or any of its Affiliates or the Board; or
(iv)&nbsp;any material misconduct, violation of the Company&rsquo;s or Affiliates&rsquo; policies, or willful and deliberate non-performance
of duty by the Grantee in connection with the business affairs of the Company or its Affiliates.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Change
in Control&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">shall have the meaning set forth in </FONT><FONT STYLE="font-style: normal">Section&nbsp;15.3.2<FONT STYLE="font-weight: normal">.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Code&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means the Internal Revenue Code of 1986.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-style: normal">2.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Committee&rdquo;
<FONT STYLE="font-weight: normal">means the Compensation Committee of the Board or any committee or other person or persons designated
by the Board to administer the Plan. The Board will cause the Committee to satisfy the applicable requirements of any securities
exchange on which the Common Stock may then be listed. For purposes of Awards to Covered Employees intended to qualify as &ldquo;performance-based
compensation&rdquo; under Section&nbsp;162(m), to the extent required by Section&nbsp;162(m), Committee means all of the members
of the Committee who are &ldquo;outside directors&rdquo; within the meaning of Section&nbsp;162(m). For purposes of Awards to
Grantees who are subject to Section&nbsp;16 of the Exchange Act, Committee means all of the members of the Committee who are &ldquo;non-employee
directors&rdquo; within the meaning of Rule 16b-3 adopted under the Exchange Act. All references in the Plan to the Board shall
mean such Committee or the Board to the extent the Committee has been designated by the Board to administer the Plan.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-style: normal">2.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Company&rdquo;</FONT>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal">means
Anavex Life Sciences Corp., a Nevada corporation, or any successor corporation.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Common
Stock&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the common stock of the Company.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Consultant&rdquo;
<FONT STYLE="font-weight: normal">means a consultant or advisor that provides bona fide services to the Company or any Affiliate
and who qualifies as a consultant or advisor under Form S-8.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Corporate
Transaction&rdquo; <FONT STYLE="font-weight: normal">means a reorganization, merger, statutory share exchange, consolidation, sale
of all or substantially all of the Company&rsquo;s assets or the acquisition of assets or stock of another entity by the Company
or other corporate transaction involving the Company or any of its Subsidiaries.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Covered
Employee&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means a Grantee who is a &ldquo;covered employee&rdquo;
within the meaning of Section&nbsp;162(m), as qualified by </FONT><FONT STYLE="font-style: normal">Section&nbsp;12.4<FONT STYLE="font-weight: normal">.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Disability&rdquo;
<FONT STYLE="font-weight: normal">shall be defined as that term is defined in the Grantee&rsquo;s offer letter or other applicable
employment agreement; or, if there is no such definition, &ldquo;Disability&rdquo; means, unless otherwise provided in the applicable
Award Agreement, the Grantee is unable to perform each of the essential duties of such Grantee&rsquo;s position by reason of a
medically determinable physical or mental impairment that is potentially permanent in character or that can be expected to last
for a continuous period of not less than 12 months; <I>provided</I>, <I>however</I>, that, with respect to rules regarding expiration
of an Incentive Stock Option following termination of the Grantee&rsquo;s Service, &ldquo;Disability&rdquo; means &ldquo;permanent
and total disability&rdquo; as set forth in Code Section&nbsp;22(e)(3).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 31; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Effective
Date&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means September 18, 2015.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Exchange
Act&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the Securities Exchange Act of 1934.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Fair
Market Value&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">of a Share as of a particular date means (i) if the
Common Stock is listed on a national securities exchange, the closing or last price of the Common Stock on the composite tape
or other comparable reporting system for the applicable date, or if the applicable date is not a trading day, the trading day
immediately preceding the applicable date, or (ii) if the Common Stock is not then listed on a national securities exchange, the
closing or last price of the Common Stock quoted by an established quotation service for over-the-counter securities or (iii)
if the Common Stock is not then listed on a national securities exchange or quoted by an established quotation service for over-the-counter
securities, or the value of the Common Stock is not otherwise determinable, such value as determined by the Board.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Family
Member&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means a person who is a spouse, former spouse, child, stepchild,
grandchild, parent, stepparent, grandparent, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother,
sister, brother-in-law or sister-in-law, including adoptive relationships, of the applicable individual, any person sharing the
applicable individual&rsquo;s household (other than a tenant or employee), a trust in which any one or more of these persons have
more than 50% of the beneficial interest, a foundation in which any one or more of these persons (or the applicable individual)
control the management of assets, and any other entity in which one or more of these persons (or the applicable individual) own
more than 50% of the voting interests.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;Grant Date&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the latest to occur of (i)&nbsp;the date
as of which the Board approves an Award, (ii)&nbsp;the date on which the recipient of an Award first becomes eligible to receive
an Award under </FONT><FONT STYLE="font-style: normal">Section&nbsp;6<FONT STYLE="font-weight: normal"> or (iii)&nbsp;such other
date as may be specified by the Board in the Award Agreement.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Grantee&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means a person who receives or holds an Award.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Incentive
Stock Option&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means an &ldquo;incentive stock option&rdquo; within
the meaning of Code Section&nbsp;422.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Non-Employee
Director&rdquo;<FONT STYLE="font-weight: normal"> means a member of the Board or the board of directors of an Affiliate, in each
case who is not an officer or employee of the Company or any Affiliate. </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Non-qualified
Stock Option&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means an Option that is not an Incentive Stock Option.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Option&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means an option to purchase one or more Shares pursuant to the Plan.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Option
Price&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the exercise price for each Share subject to an Option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 32; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Other
Share-based Awards&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means Awards consisting of Share units, or other
Awards, valued in whole or in part by reference to, or otherwise based on, Common Stock, other than Options, SARs, Restricted
Stock and RSUs.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.28.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Performance
Award&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means an Award made subject to the attainment of performance
goals (as described in </FONT><FONT STYLE="font-style: normal">Section&nbsp;12<FONT STYLE="font-weight: normal">) over a performance
period established by the Committee, and includes an Annual Incentive Award.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.29.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Person&rdquo;
<FONT STYLE="font-weight: normal">means an individual, entity or group within the meaning of Section&nbsp;13(d)(3) or 14(d)(2)
of the Exchange Act.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.30.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Plan&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means this Anavex Life Sciences Corp. 2015 Omnibus Incentive Plan.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.31.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Prior
Plan&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the Anavex Life Sciences Corp. 2007 Stock Option Plan.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.32.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Purchase
Price&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the purchase price for each Share pursuant to a grant
of Restricted Stock.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.33.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Restricted
Period&rdquo;<FONT STYLE="font-weight: normal"> shall have the meaning set forth in </FONT>Section&nbsp;10.1<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.34.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Restricted
Stock&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means restricted Shares that are subject to specified terms
and conditions, awarded to a Grantee pursuant to </FONT><FONT STYLE="font-style: normal">Section&nbsp;10<FONT STYLE="font-weight: normal">.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.35.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Restricted
Stock Unit&rdquo; <FONT STYLE="font-weight: normal">or </FONT>&ldquo;RSU&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means
a bookkeeping entry representing the right to receive Shares subject to the satisfaction of specified terms and conditions, awarded
to a Grantee pursuant to </FONT><FONT STYLE="font-style: normal">Section&nbsp;10<FONT STYLE="font-weight: normal">.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.36.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;SAR
Exercise Price&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the per Share exercise price of a SAR granted
to a Grantee under </FONT><FONT STYLE="font-style: normal">Section&nbsp;9</FONT>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.37.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;SEC&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means the United States Securities and Exchange Commission.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.38.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Section&nbsp;162(m)&rdquo;<FONT STYLE="font-weight: normal">
means Code Section&nbsp;162(m).</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.39.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Section&nbsp;409A&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means Code Section&nbsp;409A.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.40.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Securities
Act&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the Securities Act of 1933.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.41.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Separation
from Service&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the termination of a Service Provider&rsquo;s
Service, whether initiated by the Service Provider or the Company or an Affiliate; <i>provided</i>&nbsp;that if any Award governed by Section&nbsp;409A
is to be distributed on a Separation from Service, then the definition of Separation from Service for such purposes shall comply
with the definition provided in Section&nbsp;409A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 33; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.42.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Service&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means service as a Service Provider to the Company or an Affiliate. Unless
otherwise provided in the applicable Award Agreement, a Grantee&rsquo;s change in position or duties shall not result in interrupted
or terminated Service, so long as such Grantee continues to be a Service Provider to the Company or an Affiliate.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.43.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Service
Provider&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means an employee, officer, Non-Employee Director or Consultant
of the Company or an Affiliate.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.44.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Share&rdquo;
<FONT STYLE="font-weight: normal">means a share of Common Stock.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.45.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Stock
Appreciation Right&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">or &ldquo;SAR&rdquo; means a right granted to
a Grantee pursuant to </FONT><FONT STYLE="font-style: normal">Section&nbsp;9<FONT STYLE="font-weight: normal">.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.46.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Stockholder&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means a stockholder of the Company.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.47.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Subsidiary&rdquo;
<FONT STYLE="font-weight: normal; font-style: normal">means any &ldquo;subsidiary corporation&rdquo; of the Company within the
meaning of Code Section&nbsp;424(f).</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.48.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Substitute
Award&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means any Award granted in assumption of or in substitution
for an award of a company or business acquired by the Company or an Affiliate or with which the Company or an Affiliate combines.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.49.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;Ten Percent Stockholder&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means an individual who owns more
than 10% of the total combined voting power of all classes of outstanding stock of the Company, its parent or any of its Subsidiaries.
In determining stock ownership, the attribution rules of Code Section&nbsp;424(d) shall be applied.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.50.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;Termination Date&rdquo; <FONT STYLE="font-weight: normal; font-style: normal">means the date that is 10 years after the
Effective Date, unless the Plan is earlier terminated by the Board under </FONT><FONT STYLE="font-style: normal">Section&nbsp;5.2<FONT STYLE="font-weight: normal">.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADMINISTRATION
OF THE PLAN</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board shall have such powers and authorities
related to the administration of the Plan as are consistent with the Company&rsquo;s articles of incorporation and bylaws and applicable
law. The Board shall have the power and authority to delegate its responsibilities hereunder to the Committee, which shall have
full authority to act in accordance with its charter, and with respect to the power and authority of the Board to act hereunder,
all references to the Board shall be deemed to include a reference to the Committee, unless such power or authority is specifically
reserved by the Board. Except as specifically provided in <B>Section&nbsp;14</B> or as otherwise may be required by applicable
law, regulatory requirement or the articles of incorporation or the bylaws of the Company, the Board shall have full power and
authority to take all actions and to make all determinations required or provided for under the Plan, any Award or any Award Agreement,
and shall have full power and authority to take all such other actions and make all such other determinations not inconsistent
with the specific terms and conditions of the Plan that the Board deems to be necessary or appropriate to the administration of
the Plan. The Committee shall administer the Plan; <I>provided</I> that, the Board shall retain the right to exercise the authority
of the Committee to the extent consistent with applicable law and the applicable requirements of any securities exchange on which
the Common Stock may then be listed. All actions, determinations and decisions by the Board or the Committee under the Plan, any
Award or any Award Agreement shall be in the Board&rsquo;s (or the Committee&rsquo;s, as applicable) sole discretion and shall
be final, binding and conclusive. Without limitation, the Board shall have full and final power and authority, subject to the other
terms and conditions of the Plan, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 34; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: left">designate Grantees;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: left">determine the type or types of Awards to be made to Grantees;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(iii)</TD><TD STYLE="text-align: left">determine the number of Shares to be subject to an Award;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(iv)</TD><TD STYLE="text-align: left">establish the terms and conditions of each Award (including
the Option Price of any Option, the nature and duration of any restriction or condition (or provision for lapse thereof) relating
to the vesting, exercise, transfer or forfeiture of an Award or the Shares subject thereto and any terms or conditions that may
be necessary to qualify Options as Incentive Stock Options);</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(v)</TD><TD STYLE="text-align: left">prescribe the form of each Award Agreement; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(vi)</TD><TD STYLE="text-align: left">amend, modify or supplement the terms or conditions of
any outstanding Award including the authority, in order to effectuate the purposes of the Plan, to modify Awards to foreign nationals
or individuals who are employed outside the United&nbsp;States to recognize differences in local law, tax policy or custom.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent permitted by applicable law,
the Board may delegate its authority as identified herein to any individual or committee of individuals (who need not be directors),
including the authority to make Awards to Grantees who are not subject to Section&nbsp;16 of the Exchange Act or who are not Covered
Employees. To the extent that the Board delegates its authority to make Awards as provided by this <B>Section&nbsp;3.1</B>, all
references in the Plan to the Board&rsquo;s authority to make Awards and determinations with respect thereto shall be deemed to
include the Board&rsquo;s delegate. Any such delegate shall serve at the pleasure of, and may be removed at any time by, the Board.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Repricing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any provision herein to
the contrary, the repricing of Options or SARs is prohibited without prior approval of the Stockholders. For this purpose, a &ldquo;repricing&rdquo;
means any of the following (or any other action that has the same effect as any of the following): (i) changing the terms or conditions
of an Option or SAR to lower its Option Price or SAR Exercise Price; (ii) any other action that is treated as a &ldquo;repricing&rdquo;
under generally accepted accounting principles; and (iii) repurchasing for cash or canceling an Option or SAR at a time when its
Option Price or SAR Exercise Price is greater than the Fair Market Value of the underlying Shares in exchange for another Award,
unless the cancellation and exchange occurs in connection with a change in capitalization or similar change under <B>Section&nbsp;15</B>.
A cancellation and exchange under clause (iii) would be considered a &ldquo;repricing&rdquo; regardless of whether it is treated
as a &ldquo;repricing&rdquo; under generally accepted accounting principles and regardless of whether it is voluntary on the part
of the Grantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 35; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Award
Agreements; Clawbacks</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The grant of any Award may be contingent
upon the Grantee executing the appropriate Award Agreement. The Company may retain the right in an Award Agreement to cause a forfeiture
of the gain realized by a Grantee on account of actions taken by the Grantee in violation or breach of or in conflict with any
employment agreement, non-competition agreement, any agreement prohibiting solicitation of employees or clients of the Company
or any Affiliate thereof or any confidentiality obligation with respect to the Company or any Affiliate thereof, or otherwise in
competition with the Company or any Affiliate thereof, to the extent specified in such Award Agreement applicable to the Grantee.
Furthermore, the Company may annul an Award if the Grantee is terminated for Cause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All Awards and any amounts or benefits received
under the Plan shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the
terms or conditions of any applicable Company clawback policy or any applicable law, as may be in effect from time to time, including
the requirements of (i)&nbsp;Section&nbsp;304 of the Sarbanes Oxley Act and Section&nbsp;954 of the Dodd-Frank Wall Street Reform
and Consumer Protection Act, (ii)&nbsp;similar rules under the laws of any other jurisdiction and (iii)&nbsp;any policies adopted
by the Company to implement such requirements. By accepting an Award, a Grantee shall be deemed to have acknowledged and consented
to the Company&rsquo;s application, implementation and enforcement of any applicable Company clawback policy that may apply to
the Grantee, whether adopted prior to or following the Award&rsquo;s Grant Date, and any provision of applicable law relating to
cancellation, recoupment, rescission or payback of compensation, and to have agreed that the Company may take such actions as may
be necessary to effectuate any such policy or applicable law, without further consideration or action.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferral
Arrangement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board may permit or require the deferral
of any Award payment into a deferred compensation arrangement, subject to such rules and procedures as it may establish and in
accordance with Section&nbsp;409A, which may include provisions for the payment or crediting of interest or dividend equivalents,
including converting such credits into deferred Share units.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Liability</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No member of the Board or of the Committee
shall be liable for any action or determination made in good faith with respect to the Plan, any Award or Award Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Book
Entry</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provision of the
Plan to the contrary, the Company may elect to satisfy any requirement under the Plan for the delivery of stock certificates through
the use of book entry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 36; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STOCK
SUBJECT TO THE PLAN</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized
Number of Shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to adjustment under <B>Section&nbsp;15</B>,
the aggregate number of Shares authorized to be awarded under the Plan shall not exceed 24,202,211. In addition, Shares underlying
any outstanding award granted under the Prior Plan that, following the Effective Date, expires, or is terminated, surrendered or
forfeited for any reason without issuance of Shares shall be available for the grant of new Awards. As provided in <B>Section&nbsp;1</B>,
no new awards shall be granted under the Prior Plan following the Effective Date. Shares issued under the Plan may consist in whole
or in part of authorized but unissued Shares, treasury Shares or Shares purchased on the open market or otherwise, all as determined
by the Board from time to time.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share
Counting</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Each Share granted in connection with an Award
shall be counted as one Share against the limit in <B>Section&nbsp;4.1</B>, subject to the provisions of this <B>Section&nbsp;4.2</B>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash-Settled
Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Any Award settled in cash shall not be counted
as issued Shares for any purpose under the Plan.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expired
or Terminated Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If any Award expires, or is terminated, surrendered
or forfeited, in whole or in part, the unissued Shares covered by such Award shall again be available for the grant of Awards.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment
of Option Price or Tax Withholding in Shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If Shares issuable upon exercise, vesting
or settlement of an Award, or Shares owned by a Grantee (which are not subject to any pledge or other security interest) are surrendered
or tendered to the Company in payment of the Option Price or Purchase Price of an Award or any taxes required to be withheld in
respect of an Award, in each case, in accordance with the terms and conditions of the Plan and any applicable Award Agreement,
such surrendered or tendered Shares shall again be available for the grant of Awards. For a stock-settled SAR, only the net Shares
actually issued upon exercise of the SAR shall be counted against the limit in <B>Section&nbsp;4.1.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substitute
Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Substitute Awards shall not be counted against
the number of Shares reserved under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


<!-- Field: Page; Sequence: 37; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Award
Limits</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incentive
Stock Options <FONT STYLE="font-weight: normal; font-style: normal"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-weight: normal; font-style: normal">Subject
to adjustment under </FONT><FONT STYLE="font-style: normal"><B>Section&nbsp;15,</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal"><SUP>
</SUP></FONT></FONT><FONT STYLE="font-weight: normal; font-style: normal">unless and until determined otherwise by the Board,
no Shares available for issuance under the Plan shall be available for issuance as</FONT> Incentive Stock Options.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Individual
Award Limits for Section&nbsp;162(m) &ndash; Share-Based Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Subject to adjustment under <B>Section&nbsp;15</B>,
the maximum number of each type of Award (other than cash-based Performance Awards) intended to qualify as &ldquo;performance-based
compensation&rdquo; under Section&nbsp;162(m) granted to any Grantee in any calendar year shall not exceed the number of Shares
determined by the Board, including : (i) Options and SARs; and (ii) all share-based Performance Awards (including Restricted Stock,
RSUs and Other Share-based Awards that are Performance Awards).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.3.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Individual
Award Limits for Section&nbsp;162(m) &ndash; Cash-Based Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The maximum amount of cash-based Performance
Awards intended to constitute &ldquo;performance-based compensation&rdquo; under Section&nbsp;162(m) granted to any Grantee in
any calendar year, including (i) Annual Incentive Awards; and (ii) all other cash-based Performance Awards, shall be determined
by the Board.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.3.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limits
on Awards to Non-Employee Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Board shall determine how much money may
be granted in share-based Awards during any one year to a Grantee who is a Non-Employee Director (based on the Fair Market Value
underlying the Award as of the applicable Grant Date in the case of Restricted Stock, RSUs or Other Share-based Awards, and based
on the applicable grant date fair value for accounting purposes in the case of Options or SARs); <I>provided</I>, <I>however</I>,
that share-based Awards made to a Grantee who is a Non-Employee Director at such Grantee&rsquo;s election in lieu of all or a portion
of his or her retainer for service on the Board and any Board committee shall not be counted towards the limit under this <B>Section&nbsp;4.3.4</B>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">5.</TD><TD STYLE="text-align: justify">EFFECTIVE DATE, DURATION AND AMENDMENTS</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Plan shall be effective as of the Effective
Date. The Plan shall terminate automatically on the 10-year anniversary of the Effective Date and may be terminated on any earlier
date as provided in <B>Section&nbsp;5.2</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><SUP>&nbsp;</SUP></P>


<!-- Field: Page; Sequence: 38; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment
and Termination of the Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board may, at any time and from time
to time, amend, suspend or terminate the Plan as to any Awards that have not been made. An amendment shall be contingent on approval
of the Stockholders to the extent stated by the Board, required by applicable law or required by applicable securities exchange
listing requirements. No Awards shall be made after the Termination Date. The applicable terms and conditions of the Plan, and
any terms and conditions applicable to Awards granted prior to the Termination Date shall survive the termination of the Plan and
continue to apply to such Awards. No amendment, suspension or termination of the Plan shall, without the consent of the Grantee,
materially impair rights or obligations under any Award theretofore awarded.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">6.</TD><TD STYLE="text-align: justify">AWARD ELIGIBILITY AND LIMITATIONS</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service
Providers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to this <B>Section&nbsp;6.1</B>,
Awards may be made to any Service Provider as the Board may determine and designate from time to time.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Successive
Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">An eligible person may receive more than
one Award, subject to such restrictions as are provided herein.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stand-Alone,
Additional, Tandem, and Substitute Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Awards may be granted either alone or in
addition to, in tandem with or in substitution or exchange for, any other Award or any award granted under another plan of the
Company, any Affiliate or any business entity to be acquired by the Company or an Affiliate, or any other right of a Grantee to
receive payment from the Company or any Affiliate. Such additional, tandem or substitute or exchange Awards may be granted at any
time. If an Award is granted in substitution or exchange for another award, the Board shall have the right to require the surrender
of such other award in consideration for the grant of the new Award. Subject to the requirements of applicable law, the Board may
make Awards in substitution or exchange for any other award under another plan of the Company, any Affiliate or any business entity
to be acquired by the Company or an Affiliate. In addition, Awards may be granted in lieu of cash compensation, including in lieu
of cash amounts payable under other plans of the Company or any Affiliate, in which the value of Shares subject to the Award is
equivalent in value to the cash compensation (for example, RSUs or Restricted Stock).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">7.</TD><TD STYLE="text-align: justify">AWARD AGREEMENT</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The grant of any Award may be contingent
upon the Grantee executing an appropriate Award Agreement, in such form or forms as the Board shall from time to time determine.
Without limiting the foregoing, an Award Agreement may be provided in the form of a notice that provides that acceptance of the
Award constitutes acceptance of all terms and conditions of the Plan and the notice. Award Agreements granted from time to time
or at the same time need not contain similar provisions but shall be consistent with the terms and conditions of the Plan. Each
Award Agreement evidencing an Award of Options shall specify whether such Options are intended to be Non-qualified Stock Options
or Incentive Stock Options, and in the absence of such specification such options shall be deemed Non-qualified Stock Options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 39; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">8.</TD><TD STYLE="text-align: justify">TERMS AND CONDITIONS OF OPTIONS</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option
Price</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Option Price of each Option shall be
fixed by the Board and stated in the related Award Agreement. The Option Price of each Option (except those that constitute Substitute
Awards) shall be at least the Fair Market Value on the Grant Date; <I>provided</I>, <I>however</I>, that in the event that a Grantee
is a Ten Percent Stockholder as of the Grant Date, the Option Price of an Option granted to such Grantee that is intended to be
an Incentive Stock Option shall be not less than 110% of the Fair Market Value on the Grant Date. In no case shall the Option Price
of any Option be less than the par value of a Share.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vesting</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to <B>Section&nbsp;8.3</B>, each
Option shall become exercisable at such times and under such conditions (including performance requirements) as stated in the Award
Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Option shall terminate, and all rights
to purchase Shares thereunder shall cease, upon the expiration of 10 years from the Grant Date, or under such circumstances and
on such date prior thereto as is set forth in the Plan or as may be fixed by the Board and stated in the related Award Agreement;
<I>provided</I>, <I>however</I>, that in the event that the Grantee is a Ten Percent Stockholder, an Option granted to such Grantee
that is intended to be an Incentive Stock Option at the Grant Date shall not be exercisable after the expiration of five years
from its Grant Date.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitations
on Exercise of Option</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provision of the
Plan, in no event may any Option be exercised, in whole or in part, after the occurrence of an event that results in termination
of the Option.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Method
of Exercise</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">An Option that is exercisable may be exercised
by the Grantee&rsquo;s delivery of a notice of exercise to the Company, setting forth the number of Shares with respect to which
the Option is to be exercised, accompanied by full payment for the Shares. To be effective, notice of exercise must be made in
accordance with procedures established by the Company from time to time.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rights
of Holders of Options</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise provided in the applicable
Award Agreement, an individual holding or exercising an Option shall have none of the rights of a Stockholder (for example, the
right to receive cash or dividend payments or distributions attributable to the subject Shares or to direct the voting of the subject
Shares) until the Shares covered thereby are fully paid and issued to him. Except as provided in <B>Section&nbsp;15</B> or the
related Award Agreement, no adjustment shall be made for dividends, distributions or other rights for which the record date is
prior to the date of such issuance.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 40; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delivery
of Stock Certificates</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to <B>Section&nbsp;3.6</B>, promptly
after the exercise of an Option by a Grantee and the payment in full of the Option Price, such Grantee shall be entitled to the
issuance of a stock certificate or certificates evidencing his or her ownership of the Shares subject to the Option.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Limitations
on Incentive Stock Options</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">An Option shall constitute an Incentive
Stock Option only (i) if the Plan is approved by the Stockholders within 12 months before or after the Effective Date, <I>provided</I>
that any Option that is intended to be an Incentive Stock Option that is granted prior to such Stockholder approval must be granted
subject to such Stockholder approval, (ii)&nbsp;if the Grantee of such Option is an employee of the Company or any Subsidiary of
the Company, (iii)&nbsp;to the extent specifically provided in the related Award Agreement and (iv)&nbsp;to the extent that the
aggregate Fair Market Value (determined at the time the Option is granted) with respect to which all Incentive Stock Options held
by such Grantee become exercisable for the first time during any calendar year (under the Plan and all other plans of the Grantee&rsquo;s
employer and its Affiliates) does not exceed $100,000. This limitation shall be applied by taking Options into account in the order
in which they were granted.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">9.</TD><TD STYLE="text-align: justify">TERMS AND CONDITIONS OF STOCK APPRECIATION RIGHTS</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right
to Payment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A SAR shall confer on the Grantee a right
to receive, upon exercise thereof, the excess of (i)&nbsp;the Fair Market Value on the date of exercise over (ii)&nbsp;the SAR
Exercise Price, as determined by the Board. The Award Agreement for a SAR (except those that constitute Substitute Awards) shall
specify the SAR Exercise Price, which shall be fixed on the Grant Date as not less than the Fair Market Value on that date. SARs
may be granted alone or in conjunction with all or part of an Option or at any subsequent time during the term of such Option or
in conjunction with all or part of any other Award. A SAR granted in tandem with an outstanding Option following the Grant Date
of such Option shall have a grant price that is equal to the Option Price; <I>provided</I>, <I>however</I>, that the SAR&rsquo;s
grant price may not be less than the Fair Market Value on the Grant Date of the SAR to the extent required by Section&nbsp;409A.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Terms</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board shall determine the time or times
at which and the circumstances under which a SAR may be exercised in whole or in part (including based on achievement of performance
goals and/or future service requirements), the time or times at which SARs shall cease to be or become exercisable following Separation
from Service or upon other conditions, the method of exercise, whether or not a SAR shall be in tandem or in combination with any
other Award and any other terms and conditions of any SAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 41; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term
of SARs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The term of a SAR shall be determined by
the Board; <I>provided</I>, <I>however</I>, that such term shall not exceed 10 years.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment
of SAR Amount</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon exercise of a SAR, a Grantee shall
be entitled to receive payment from the Company (in cash or Shares, as determined by the Board) in an amount determined by multiplying:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
difference between the Fair Market Value on the date of exercise over the SAR Exercise Price; by</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
number of Shares with respect to which the SAR is exercised.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">10.</TD><TD STYLE="text-align: justify">TERMS AND CONDITIONS OF RESTRICTED STOCK AND RESTRICTED
STOCK UNITS</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restrictions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the time of grant, the Board may establish
a period of time (a &ldquo;<B>Restricted Period</B>&rdquo;) and any additional restrictions including the satisfaction of corporate
or individual performance objectives applicable to an Award of Restricted Stock or RSUs. Each Award of Restricted Stock or RSUs
may be subject to a different Restricted Period and additional restrictions. Neither Restricted Stock nor RSUs may be sold, transferred,
assigned, pledged or otherwise encumbered or disposed of during the Restricted Period or prior to the satisfaction of any other
applicable restrictions.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted
Stock Certificates</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall issue Shares, in the name
of each Grantee to whom Restricted Stock has been granted, stock certificates or other evidence of ownership representing the total
number of Shares of Restricted Stock granted to the Grantee, as soon as reasonably practicable after the Grant Date. The Board
may provide in an Award Agreement that either (i)&nbsp;the Secretary of the Company shall hold such certificates for the Grantee&rsquo;s
benefit until such time as the Restricted Stock is forfeited to the Company or the restrictions lapse, or (ii)&nbsp;such certificates
shall be delivered to the Grantee; <I>provided</I>, <I>however</I>, that such certificates shall bear a legend or legends that
comply with the applicable securities laws and regulations and make appropriate reference to the restrictions imposed under the
Plan and the Award Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rights
of Holders of Restricted Stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless the otherwise provided in the applicable
Award Agreement and subject to<B> Section&nbsp;17.10</B>, holders of Restricted Stock shall have rights as Stockholders, including
voting and dividend rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 42; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rights
of Holders of RSUs</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">10.4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Settlement
of RSUs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">RSUs may be settled in cash or Shares, as
determined by the Board and set forth in the Award Agreement. The Award Agreement shall also set forth whether the RSUs shall be
settled (i)&nbsp;within the time period specified for &ldquo;short term deferrals&rdquo; under Section&nbsp;409A or (ii)&nbsp;otherwise
within the requirements of Section&nbsp;409A, in which case the Award Agreement shall specify upon which events such RSUs shall
be settled.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">10.4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voting
and Dividend Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Unless otherwise provided in the applicable
Award Agreement and subject to <B>Section&nbsp;17.10</B>, holders of RSUs shall not have rights as Stockholders, including voting
or dividend or dividend equivalents rights.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">10.4.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Creditor&rsquo;s
Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">A holder of RSUs shall have no rights other
than those of a general creditor of the Company. RSUs represent an unfunded and unsecured obligation of the Company, subject to
the terms and conditions of the applicable Award Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase
of Restricted Stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Grantee shall be required, to the extent
required by applicable law, to purchase the Restricted Stock from the Company at a Purchase Price equal to the greater of (i)&nbsp;the
aggregate par value of the Shares represented by such Restricted Stock or (ii)&nbsp;the Purchase Price, if any, specified in the
related Award Agreement. If specified in the Award Agreement, the Purchase Price may be deemed paid by Services already rendered.
The Purchase Price shall be payable in a form described in <B>Section&nbsp;11 </B>or, if so determined by the Board, in consideration
for past Services rendered.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delivery
of Shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the expiration or termination of any
Restricted Period and the satisfaction of any other conditions prescribed by the Board, the restrictions applicable to Shares of
Restricted Stock or RSUs settled in Shares shall lapse, and, unless otherwise provided in the applicable Award Agreement, a stock
certificate for such Shares shall be delivered, free of all such restrictions, to the Grantee or the Grantee&rsquo;s beneficiary
or estate, as the case may be.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">11.</TD><TD STYLE="text-align: justify">FORM OF PAYMENT FOR OPTIONS AND RESTRICTED STOCK</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General
Rule</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Payment of the Option Price for the Shares
purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock shall be made in cash or in cash equivalents
acceptable to the Company, except as provided in this <B>Section&nbsp;11</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 43; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Surrender
of Shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent the Award Agreement so provides,
payment of the Option Price for Shares purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock
may be made all or in part through the tender to the Company of Shares, which Shares shall be valued, for purposes of determining
the extent to which the Option Price or Purchase Price for Restricted Stock has been paid thereby, at their Fair Market Value on
the date of exercise or surrender. Notwithstanding the foregoing, in the case of an Incentive Stock Option, the right to make payment
in the form of already-owned Shares may be authorized only at the time of grant.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cashless
Exercise</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With respect to an Option only (and not
with respect to Restricted Stock), to the extent permitted by law and to the extent the Award Agreement so provides, payment of
the Option Price may be made all or in part by delivery (on a form acceptable to the Company) of an irrevocable direction to a
licensed securities broker acceptable to the Company to sell Shares and to deliver all or part of the sales proceeds to the Company
in payment of the Option Price and any withholding taxes described in <B>Section&nbsp;17.3</B>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Forms of Payment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent the Award Agreement so provides,
payment of the Option Price or the Purchase Price for Restricted Stock may be made in any other form that is consistent with applicable
laws, regulations and rules, including the Company&rsquo;s withholding of Shares otherwise due to the exercising Grantee.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">12.</TD><TD STYLE="text-align: justify">TERMS AND CONDITIONS
OF PERFORMANCE AWARDS</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance
Conditions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The right of a Grantee to exercise or receive
a grant or settlement of any Award, and the timing thereof, may be subject to such performance conditions as may be specified by
the Committee. The Committee may use such business criteria and other measures of performance as it may deem appropriate in establishing
any performance conditions.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance
Awards Granted to Designated Covered Employees</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If and to the extent that the Committee
determines that a Performance Award to be granted to a Grantee who is designated by the Committee as likely to be a Covered Employee
should qualify as &ldquo;performance-based compensation&rdquo; for purposes of Section&nbsp;162(m), the grant, exercise and/or
settlement of such Performance Award shall be contingent upon achievement of pre-established performance goals and other terms
and conditions set forth in this <B>Section&nbsp;12.2</B>. Notwithstanding anything herein to the contrary, the Committee may provide
for Performance Awards to Covered Employees that are not intended to qualify as &ldquo;performance-based compensation&rdquo; for
purposes of Section&nbsp;162(m).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 44; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">12.2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance
Goals Generally</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The performance goals for Performance Awards
shall consist of one or more business criteria and a targeted level or levels of performance with respect to each of such criteria,
as specified by the Committee consistent with this <B>Section&nbsp;12.2</B>. Performance goals shall be objective and shall otherwise
meet the requirements of Section&nbsp;162(m), including the requirement that the level or levels of performance targeted by the
Committee result in the achievement of performance goals being &ldquo;substantially uncertain.&rdquo; The Committee may determine
that Performance Awards shall be granted, exercised and/or settled upon achievement of any one performance goal or that two or
more of the performance goals must be achieved as a condition to grant, exercise and/or settlement of the Performance Awards. Performance
goals may be established on a Company-wide basis, or with respect to one or more business units, divisions, Affiliates or business
segments, as applicable. Performance goals may be absolute or relative (to the performance of one or more comparable companies
or indices). To the extent consistent with the requirements of Section&nbsp;162(m), the Committee may determine at the time that
goals under this <B>Section&nbsp;12 </B>are established the extent to which measurement of performance goals may exclude the impact
of charges for restructuring, discontinued operations, extraordinary items, debt redemption or retirement, asset write downs, litigation
or claim judgments or settlements, acquisitions or divestitures, foreign exchange gains and losses and other extraordinary, unusual
or non-recurring items, and the cumulative effects of tax or accounting changes (each as defined by generally accepted accounting
principles and as identified in the Company&rsquo;s financial statements or other SEC filings). Performance goals may differ for
Performance Awards granted to any one Grantee or to different Grantees.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">12.2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business
Criteria</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">One or more of the following business criteria
for the Company, on a consolidated basis, and/or specified Affiliates or business units of the Company (except with respect to
the total stockholder return and earnings per share criteria), shall be used exclusively by the Committee in establishing performance
goals for Performance Awards: (i) cash flow; (ii) earnings per share, as adjusted for any stock split, stock dividend or other
recapitalization; (iii) earnings measures (including EBIT and EBITDA)); (iv) return on equity; (v) total stockholder return; (vi)
share price performance, as adjusted for any stock split, stock dividend or other recapitalization; (vii) return on capital; (viii)
revenue; (ix) income; (x) profit margin; (xi) return on operating revenue; (xii) brand recognition or acceptance; (xiii) customer
metrics (including customer satisfaction, customer retention, customer profitability or customer contract terms); (xiv) productivity;
(xv) expense targets; (xvi) market share; (xvii) cost control measures; (xviii) balance sheet metrics; (xix) strategic initiatives;
(xx) implementation, completion or attainment of measurable objectives with respect to recruitment or retention of personnel or
employee satisfaction; (xxi) return on assets; (xxii) growth in net sales; (xxiii) the ratio of net sales to net working capital;
(xxiv) stockholder value added; (xxv) improvement in management of working capital items (inventory, accounts receivable or accounts
payable); (xxvi) sales from newly-introduced products; (xxvii) successful completion of, or achievement of milestones or objectives
related to, financing or capital raising transactions, strategic acquisitions or divestitures, joint ventures, partnerships, collaborations
or other transactions; (xxviii) product quality, safety, productivity, yield or reliability (on time and complete orders); (xxix)
funds from operations; (xxx) regulatory body approval for commercialization of a product; (xxxi) debt levels or reduction or debt
ratios; (xxxii) economic value; (xxxiii) operating efficiency; (xxxiv) research and development achievements; or (xxxv) any combination
of the forgoing business criteria; <I>provided</I>, <I>however</I>, that such business criteria shall include any derivations of
business criteria listed above (<I>e.g.</I>, income shall include pre-tax income, net income and operating income).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


<!-- Field: Page; Sequence: 45; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">12.2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Timing
for Establishing Performance Goals</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Performance goals shall be established not
later than 90 days after the beginning of any performance period applicable to Performance Awards, or at such other date as may
be required or permitted for &ldquo;performance-based compensation&rdquo; under Section&nbsp;162(m).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">12.2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Settlement
of Performance Awards; Other Terms</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Settlement of Performance Awards may be in
cash, Shares, other Awards or other property, as determined by the Committee. The Committee may reduce the amount of a settlement
otherwise to be made in connection with Performance Awards.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written
Determinations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All determinations by the Committee as to
the establishment of performance goals, the amount of any Performance Award pool or potential individual Performance Awards and
as to the achievement of performance goals relating to Performance Awards, shall be made in writing in the case of any Award intended
to qualify as &ldquo;performance-based compensation&rdquo; under Section&nbsp;162(m) to the extent required by Section&nbsp;162(m).
To the extent permitted by Section&nbsp;162(m), the Committee may delegate any responsibility relating to such Performance Awards.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Status
of Section&nbsp;12.2 Awards under Section&nbsp;162(m)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">It is the intent of the Company that Performance
Awards under <B>Section&nbsp;12.2</B> granted to persons who are designated by the Committee as likely to be Covered Employees
within the meaning of Section&nbsp;162(m) shall, if so designated by the Committee, qualify as &ldquo;performance-based compensation&rdquo;
within the meaning of Section&nbsp;162(m). Accordingly, the terms and conditions of <B>Section&nbsp;12.2</B>, including the definitions
of Covered Employee and other terms used therein, shall be interpreted in a manner consistent with Section&nbsp;162(m). The foregoing
notwithstanding, because the Committee cannot determine with certainty whether a given Grantee will be a Covered Employee with
respect to a fiscal year that has not yet been completed, the term Covered Employee as used herein shall mean only a person designated
by the Committee, at the time of grant of Performance Awards, as likely to be a Covered Employee with respect to that fiscal year
or any subsequent fiscal year. If any provision of the Plan or any agreement relating to such Performance Awards does not comply
or is inconsistent with the requirements of Section&nbsp;162(m), such provision shall be construed or deemed amended to the extent
necessary to conform to such requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 46; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">13.</TD><TD STYLE="text-align: justify"><FONT STYLE="text-transform: uppercase">other
                                         SHARE-based awards</FONT></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">13.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grant
of Other Share-based Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Other Share-based Awards may be granted
either alone or in addition to or in conjunction with other Awards. Other Share-based Awards may be granted in lieu of other cash
or other compensation to which a Service Provider is entitled from the Company or may be used in the settlement of amounts payable
in Shares under any other compensation plan or arrangement of the Company. Subject to the provisions of the Plan, the Board shall
have the authority to determine the persons to whom and the time or times at which such Awards will be made, the number of Shares
to be granted pursuant to such Awards, and all other terms and conditions of such Awards. Unless the Board determines otherwise,
any such Award shall be confirmed by an Award Agreement, which shall contain such provisions as the Board determines to be necessary
or appropriate to carry out the intent of the Plan with respect to such Award.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">13.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Terms
of Other Share-based Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any Common Stock subject to Awards made
under this <B>Section&nbsp;13</B> may not be sold, assigned, transferred, pledged or otherwise encumbered prior to the date on
which the Shares are issued, or, if later, the date on which any applicable restriction, performance or deferral period lapses.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">14.</TD><TD STYLE="text-align: justify">REQUIREMENTS OF LAW</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">14.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company shall not be required to sell
or issue any Shares under any Award if the sale or issuance of such Shares would constitute a violation by the Grantee, any other
individual exercising an Option or the Company of any provision of any law or regulation of any governmental authority, including
any federal or state securities laws or regulations. If at any time the Board determines that the listing, registration or qualification
of any Shares subject to an Award upon any securities exchange or under any governmental regulatory body is necessary or desirable
as a condition of, or in connection with, the issuance or purchase of Shares hereunder, no Shares may be issued or sold to the
Grantee or any other individual exercising an Option pursuant to such Award unless such listing, registration, qualification, consent
or approval shall have been effected or obtained free of any conditions not acceptable to the Company, and any delay caused thereby
shall in no way affect the date of termination of the Award. Specifically, in connection with the Securities Act, upon the exercise
of any Option or the delivery of any Shares underlying an Award, unless a registration statement under such Act is in effect with
respect to the Shares covered by such Award, the Company shall not be required to sell or issue such Shares unless the Board has
received evidence satisfactory to it that the Grantee or any other individual exercising an Option may acquire such Shares pursuant
to an exemption from registration under the Securities Act. The Company may, but shall in no event be obligated to, register any
securities covered hereby pursuant to the Securities Act. The Company shall not be obligated to take any affirmative action in
order to cause the exercise of an Option or the issuance of Shares pursuant to the Plan to comply with any law or regulation of
any governmental authority. As to any jurisdiction that expressly imposes the requirement that an Option shall not be exercisable
until the Shares covered by such Option are registered or are exempt from registration, the exercise of such Option (under circumstances
in which the laws of such jurisdiction apply) shall be deemed conditioned upon the effectiveness of such registration or the availability
of such an exemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 47; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">14.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rule
16b-3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">During any time when the Company has a class
of equity security registered under Section&nbsp;12 of the Exchange Act, it is the intent of the Company that Awards and the exercise
of Options granted to officers and directors hereunder will qualify for the exemption provided by Rule 16b-3 under the Exchange
Act. To the extent that any provision of the Plan or action by the Board or Committee does not comply with the requirements of
Rule 16b-3, it shall be deemed inoperative to the extent permitted by law and deemed advisable by the Board, and shall not affect
the validity of the Plan. In the event that Rule 16b-3 is revised or replaced, the Board may modify the Plan in any respect necessary
to satisfy the requirements of, or to take advantage of any features of, the revised exemption or its replacement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">15.</TD><TD STYLE="text-align: justify">EFFECT OF CHANGES IN CAPITALIZATION</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">15.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes
in Common Stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If (i) the number of outstanding Shares
is increased or decreased or the Shares are changed into or exchanged for a different number or kind of shares or other securities
of the Company on account of any recapitalization, reclassification, stock split, reverse split, combination of Shares, exchange
of Shares, stock dividend or other distribution payable in capital stock, or other increase or decrease in such Shares effected
without receipt of consideration by the Company occurring after the Effective Date or (ii) there occurs any spin-off, split-up,
extraordinary cash dividend or other distribution of assets by the Company, the number and kinds of shares for Awards granted (including
the per-Grantee maximums set forth in <B>Section&nbsp;4</B>) shall be equitably adjusted by the Company; <I>provided</I> that any
such adjustment shall comply with Section&nbsp;409A. In addition, in the event of any such increase or decease in the number of
outstanding Shares or other transaction described in clause (ii) above, the number and kind of Shares for which Awards are outstanding
and the Option Price per Share of outstanding Options and SAR Exercise Price per Share of outstanding SARs shall be equitably adjusted;
<I>provided</I> that any such adjustment shall comply with Section&nbsp;409A.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 48; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">15.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effect
of Certain Transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as otherwise provided in an Award
Agreement and subject to the provisions of <B>Section&nbsp;15.3</B>, in the event of a Corporate Transaction, the Plan and the
Awards shall continue in effect in accordance with their respective terms and conditions, except that following a Corporate Transaction
either (i) each outstanding Award shall be treated as provided for in the agreement entered into in connection with the Corporate
Transaction or (ii) if not so provided in such agreement, each Grantee shall be entitled to receive in respect of each Share subject
to any outstanding Awards, upon exercise or payment or transfer in respect of any Award, the same number and kind of stock, securities,
cash, property or other consideration that each holder of a Share was entitled to receive in the Corporate Transaction in respect
of a Share; <I>provided</I>, <I>however</I>, that, unless otherwise determined by the Board, such stock, securities, cash, property
or other consideration shall remain subject to all of the conditions, restrictions and performance criteria that were applicable
to the Awards prior to such Corporate Transaction. Without limiting the generality of the foregoing, the treatment of outstanding
Options and SARs pursuant to this <B>Section&nbsp;15.2</B> in connection with a Corporate Transaction in which the consideration
paid or distributed to the Stockholders is not entirely shares of common stock of the acquiring or resulting corporation may include
the cancellation of outstanding Options and SARs upon consummation of the Corporate Transaction as long as, at the election of
the Board, (i) the holders of affected Options and SARs have been given a period of at least 15 days prior to the date of the consummation
of the Corporate Transaction to exercise the Options or SARs (to the extent otherwise exercisable) or (ii) the holders of the affected
Options and SARs are paid (in cash or cash equivalents) in respect of each Share covered by the Option or SAR being canceled an
amount equal to the excess, if any, of the per Share price paid or distributed to Stockholders in the Corporate Transaction (the
value of any non-cash consideration to be determined by the Board) over the Option Price or SAR Exercise Price, as applicable.
For avoidance of doubt, (1)&nbsp;the cancellation of Options and SARs pursuant to clause (ii) of the preceding sentence may be
effected notwithstanding anything to the contrary contained in the Plan or any Award Agreement and (2) if the amount determined
pursuant to clause (ii) of the preceding sentence is zero or less, the affected Option or SAR may be cancelled without any payment
therefore. The treatment of any Award as provided in this <B>Section&nbsp;15.2</B> shall be conclusively presumed to be appropriate
for purposes of <B>Section&nbsp;15.1</B>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">15.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change
in Control</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">15.3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consequences
of a Change in Control</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">For Awards granted to Non-Employee Directors,
except as may otherwise be provided in the applicable Award Agreement, upon a Change in Control all such outstanding Awards that
may be exercised shall become fully exercisable, all restrictions with respect to such outstanding Awards shall lapse and become
vested and non-forfeitable, and any specified performance goals with respect to outstanding Awards shall be deemed to be satisfied
at target.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">For Awards granted to any other Service Providers,
except as may otherwise be provided in the applicable Award Agreement, either of the following provisions shall apply, depending
on whether, and the extent to which, such Awards are assumed, converted or replaced by the resulting entity in a Change in Control:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: left">To the extent such Awards are not assumed, converted
or replaced by the resulting entity in the Change in Control, then upon the Change in Control such outstanding Awards that may
be exercised shall become fully exercisable, all restrictions with respect to such outstanding Awards, other than for Performance
Awards, shall lapse and become vested and non-forfeitable, and for any outstanding Performance Awards the target payout opportunities
attainable under such Awards shall be deemed to have been fully earned as of the Change in Control based upon the greater of (A)
an assumed achievement of all relevant performance goals at the &ldquo;target&rdquo; level or (B) the actual level of achievement
of all relevant performance goals against target as of the Company&rsquo;s fiscal quarter end preceding the Change in Control
and the Award shall become vested pro rata based on the portion of the applicable performance period completed through the date
of the Change in Control.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 49; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: left">To the extent such Awards are assumed, converted or replaced
by the resulting entity in the Change in Control, if, within two years after the date of the Change in Control, the Service Provider
has a Separation from Service either (1) by the Company other than for Cause or (2) by the Service Provider for &ldquo;good reason&rdquo;
(as defined in the applicable Award Agreement), then such outstanding Awards that may be exercised shall become fully exercisable,
all restrictions with respect to such outstanding Awards, other than for Performance Awards, shall lapse and become vested and
non-forfeitable, and for any outstanding Performance Awards the target payout opportunities attainable under such Awards shall
be deemed to have been fully earned as of the Separation from Service based upon the greater of (A) an assumed achievement of
all relevant performance goals at the &ldquo;target&rdquo; level or (B) the actual level of achievement of all relevant performance
goals against target as of the Company&rsquo;s fiscal quarter end preceding the Change in Control and the Award shall become vested
pro rata based on the portion of the applicable performance period completed through the date of the Separation from Service.</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-indent: 1.5in">15.3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change
in Control Defined</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Unless otherwise provided in the applicable
Award Agreement, a &ldquo;<B>Change in Control</B>&rdquo; means the consummation of any of the following events:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: left">The acquisition, other than from the Company, by any
individual, entity or group (within the meaning of Section&nbsp;13(d)(3) or Section&nbsp;14(d)(2) of the Exchange Act), other
than the Company or any subsidiary, affiliate (within the meaning of Rule 144 promulgated under the Securities Act) or employee
benefit plan of the Company, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of
more than 50% of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally
in the election of directors (the &ldquo;<B>Voting Securities</B>&rdquo;); or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: left">A reorganization, merger, consolidation or recapitalization
of the Company (a &ldquo;<B>Business Combination</B>&rdquo;), other than a Business Combination in which more than 50% of the
combined voting power of the outstanding voting securities of the surviving or resulting entity immediately following the Business
Combination is held by the Persons who, immediately prior to the Business Combination, were the holders of the Voting Securities;
or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 50; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(iii)</TD><TD STYLE="text-align: left">A complete liquidation or dissolution of the Company,
or a sale of all or substantially all of the assets of the Company; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(iv)</TD><TD STYLE="text-align: left">During any period of 24 consecutive months, the Incumbent
Directors cease to constitute a majority of the Board; &ldquo;<B>Incumbent Directors</B>&rdquo; means individuals who were members
of the Board at the beginning of such period or individuals whose election or nomination for election to the Board by the Stockholders
was approved by a vote of at least a majority of the then Incumbent Directors (but excluding any individual whose initial election
or nomination is in connection with an actual or threatened proxy contest relating to the election of directors).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in; text-align: left">Notwithstanding the foregoing, if it is determined
that an Award is subject to the requirements of Section&nbsp;409A and payable upon a Change in Control, the Company will not be
deemed to have undergone a Change in Control for purposes of the Plan unless the Company is deemed to have undergone a &ldquo;change
in control event&rdquo; pursuant to the definition of such term in Section&nbsp;409A.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">15.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Adjustments under this <B>Section&nbsp;15</B>
related to Shares or securities of the Company shall be made by the Board. No fractional Shares or other securities shall be issued
pursuant to any such adjustment, and any fractions resulting from any such adjustment shall be eliminated in each case by rounding
downward to the nearest whole Share.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Limitations on Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The making of Awards shall not affect or
limit in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital
or business structure or to merge, consolidate, dissolve or liquidate, or to sell or transfer all or any part of its business or
assets.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: left; text-indent: -0.5in">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TERMS
APPLICABLE GENERALLY TO AWARDS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disclaimer
of Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No provision in the Plan or in any Award
Agreement shall be construed to confer upon any individual the right to remain in the employ or service of the Company or any Affiliate,
or to interfere in any way with any contractual or other right or authority of the Company or any Affiliate either to increase
or decrease the compensation or other payments to any individual at any time, or to terminate any employment or other relationship
between any individual and the Company or any Affiliate. In addition, notwithstanding anything contained in the Plan to the contrary,
unless otherwise provided in the applicable Award Agreement, no Award shall be affected by any change of duties or position of
the Grantee, so long as such Grantee continues to be a Service Provider. The obligation of the Company to pay any benefits pursuant
to the Plan shall be interpreted as a contractual obligation to pay only those amounts described herein, in the manner and under
the conditions prescribed herein. The Plan shall in no way be interpreted to require the Company to transfer any amounts to a third
party trustee or otherwise hold any amounts in trust or escrow for payment to any Grantee or beneficiary under the terms and conditions
of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 51; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonexclusivity
of the Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Neither the adoption of the Plan nor the
submission of the Plan to the Stockholders for approval shall be construed as creating any limitations upon the right and authority
of the Board or its delegate to adopt such other compensation arrangements as the Board or its delegate determines desirable.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withholding
Taxes</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company or an Affiliate, as the case
may be, shall have the right to deduct from payments of any kind otherwise due to a Grantee any federal, state or local taxes of
any kind required by law to be withheld (i)&nbsp;with respect to the vesting of or other lapse of restrictions applicable to an
Award, (ii)&nbsp;upon the issuance of any Shares upon the exercise of an Option or SAR or (iii)&nbsp;otherwise due in connection
with an Award. At the time of such vesting, lapse or exercise, the Grantee shall pay to the Company or the Affiliate, as the case
may be, any amount that the Company or the Affiliate may reasonably determine to be necessary to satisfy such withholding obligation.
Subject to the prior approval of the Board, the Grantee may elect to satisfy such obligations, or the Company may require such
obligations to be satisfied, in whole or in part, (i)&nbsp;by causing the Company or the Affiliate to withhold the minimum required
number of Shares otherwise issuable to the Grantee as may be necessary to satisfy such withholding obligation or (ii)&nbsp;by delivering
to the Company or the Affiliate Shares already owned by the Grantee. The Shares so delivered or withheld shall have an aggregate
Fair Market Value equal to such withholding obligations. The Fair Market Value used to satisfy such withholding obligation shall
be determined by the Company or the Affiliate as of the date that the amount of tax to be withheld is to be determined. A Grantee
who has made an election pursuant to this <B>Section&nbsp;17.3</B> may satisfy his or her withholding obligation only with Shares
that are not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Provisions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Award Agreement may contain such other
terms and conditions not inconsistent with the Plan as may be determined by the Board. In the event of any conflict between the
terms and conditions of an employment agreement and the Plan, the terms and conditions of the employment agreement shall govern.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Severability</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any provision of the Plan or any Award
Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions
hereof and thereof shall be severable and enforceable in accordance with their terms and conditions, and all provisions shall remain
enforceable in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 52; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Governing
Law</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Plan shall be governed by and construed
in accordance with the laws of the State of Nevada without giving effect to the principles of conflicts of law, and applicable
Federal law.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;409A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Plan is intended to comply with Section&nbsp;409A
to the extent subject thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and administered
to be in compliance therewith. Any payments described in the Plan that are due within the &ldquo;short-term deferral period&rdquo;
as defined in Section&nbsp;409A shall not be treated as deferred compensation unless applicable laws require otherwise. Notwithstanding
anything to the contrary in the Plan, to the extent required to avoid accelerated taxation and tax penalties under Section&nbsp;409A,
amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six-month
period immediately following the Grantee&rsquo;s Separation from Service shall instead be paid on the first payroll date after
the six-month anniversary of the Grantee&rsquo;s Separation from Service (or the Grantee&rsquo;s death, if earlier). Notwithstanding
the foregoing, neither the Company nor the Board shall have any obligation to take any action to prevent the assessment of any
excise tax or penalty on any Grantee under Section&nbsp;409A and neither the Company nor the Board shall have any liability to
any Grantee for such tax or penalty.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Separation
from Service</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board shall determine the effect of
a Separation from Service upon Awards, and such effect shall be set forth in the applicable Award Agreement. Without limiting the
foregoing, the Board may provide in the Award Agreements at the time of grant, or any time thereafter with the consent of the Grantee,
the actions that will be taken upon the occurrence of a Separation from Service, including accelerated vesting or termination,
depending upon the circumstances surrounding the Separation from Service.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transferability
of Awards</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">17.9.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transfers
in General</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Except as provided in <B>Section&nbsp;17.9.2</B>,
no Award shall be assignable or transferable by the Grantee to whom it is granted, other than by will or the laws of descent and
distribution, and, during the lifetime of the Grantee, only the Grantee personally (or the Grantee&rsquo;s personal representative)
may exercise rights under the Plan.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">17.9.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Family
Transfers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If authorized in the applicable Award Agreement,
a Grantee may transfer, not for value, all or part of an Award (other than Incentive Stock Options) to any Family Member. For the
purpose of this <B>Section&nbsp;17.9.2</B>, a &ldquo;not for value&rdquo; transfer is a transfer that is (i)&nbsp;a gift, (ii)&nbsp;a
transfer under a domestic relations order in settlement of marital property rights or (iii)&nbsp;a transfer to an entity in which
more than 50% of the voting interests are owned by Family Members (or the Grantee) in exchange for an interest in that entity.
Following a transfer under this <B>Section&nbsp;17.9.2</B>, any such Award<FONT STYLE="text-transform: uppercase"> </FONT>shall
continue to be subject to the same terms and conditions as were applicable immediately prior to transfer. Subsequent transfers
of transferred Awards are prohibited except to Family Members of the original Grantee in accordance with this <B>Section&nbsp;17.9.2</B>
or by will or the laws of descent and distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


<!-- Field: Page; Sequence: 53; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends
and Dividend Equivalent Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If specified in the Award Agreement, the
recipient of an Award may be entitled to receive, currently or on a deferred basis, dividends or dividend equivalents with respect
to the Common Stock or other securities covered by an Award. The terms and conditions of a dividend equivalent right may be set
forth in the Award Agreement. Dividend equivalents credited to a Grantee may be paid currently or may be deemed to be reinvested
in additional Shares or other securities of the Company at a price per unit equal to the Fair Market Value on the date that such
dividend was paid to Stockholders, as determined by the Board. Notwithstanding the foregoing, in no event will dividends or dividend
equivalents on any Award that is subject to the achievement of performance criteria be payable before the Award has become earned
and payable.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plan
Construction</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the Plan, unless otherwise stated, the
following uses apply: (i)&nbsp;references to a statute or law refer to the statute or law and any amendments and any successor
statutes or laws, and to all valid and binding governmental regulations, court decisions and other regulatory and judicial authority
issued or rendered thereunder, as amended, or their successors, as in effect at the relevant time; (ii)&nbsp;in computing periods
from a specified date to a later specified date, the words &ldquo;from&rdquo; and &ldquo;commencing on&rdquo; (and the like) mean
&ldquo;from and including,&rdquo; and the words &ldquo;to,&rdquo; &ldquo;until&rdquo; and &ldquo;ending on&rdquo; (and the like)
mean &ldquo;to and including&rdquo;; (iii)&nbsp;indications of time of day shall be based upon the time applicable to the location
of the principal headquarters of the Company; (iv)&nbsp;the words &ldquo;include,&rdquo; &ldquo;includes&rdquo; and &ldquo;including&rdquo;
(and the like) mean &ldquo;include, without limitation,&rdquo; &ldquo;includes, without limitation&rdquo; and &ldquo;including,
without limitation&rdquo; (and the like), respectively; (v)&nbsp;all references to articles and sections are to articles and sections
in the Plan; (vi)&nbsp;all words used shall be construed to be of such gender or number as the circumstances and context require;
(vii)&nbsp;the captions and headings of articles and sections have been inserted solely for convenience of reference and shall
not be considered a part of the Plan, nor shall any of them affect the meaning or interpretation of the Plan or any of its provisions;
(viii)&nbsp;any reference to an agreement, plan, policy, form, document or set of documents, and the rights and obligations of
the parties under any such agreement, plan, policy, form, document or set of documents, shall mean such agreement, plan, policy,
form, document or set of documents as amended from time to time, and any and all modifications, extensions, renewals, substitutions
or replacements thereof; and (ix)&nbsp;all accounting terms not specifically defined shall be construed in accordance with generally
accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 54; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="11" STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>ANAVEX LIFE SCIENCES CORP.</I></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>51 WEST 52ND STREET, 7TH FLOOR</I></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>NEW YORK, NY 10019</I></B></P></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>VOTE BY INTERNET - </B></FONT><B><FONT STYLE="font-size: 10pt"><U>www.proxyvote.com </U></FONT></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 p.m. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>VOTE BY PHONE - 1-800-690-6903 </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use any touch-tone telephone to transmit your voting instructions up until 11:59 p.m. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you call and then follow the instructions. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>VOTE BY MAIL </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">TO VOTE, MARK BLOCKS BELOW IN
BLUE OR BLACK INK AS FOLLOWS:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; border-bottom: Black 2pt dashed"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; font-size: 10pt; border-bottom: Black 2pt dashed"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">E06197-P75293</FONT></TD>
    <TD STYLE="width: 40%; text-align: right; font-size: 10pt; border-bottom: Black 2pt dashed"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">KEEP
    THIS PORTION FOR YOUR RECORDS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">DETACH
    AND RETURN THIS PORTION ONLY</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THIS PROXY CARD IS VALID ONLY WHEN SIGNED
AND DATED.</B></P>

<DIV STYLE="padding: 0.05in; border: Black 1pt solid">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>ANAVEX LIFE SCIENCES CORP</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>For</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>Withhold </B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>For All </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">To withhold
    authority to vote for any individual nominee(s), mark &ldquo;For All Except&rdquo; and write the number(s) of the nominee(s)
    on the line below.</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>All</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>All</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>Except</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>The Board of Directors recommends
    you vote FOR the following:</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-right: Black 2pt solid; border-top: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt"><B>&uml;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt"><B>&uml;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt"><B>&uml;</B></FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-right: Black 2pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-left: 0.1in; padding-right: 0.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><I>Proposal 1. </I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><I>Election of Directors. </I>To elect five (5)
    members of our Board, each to hold office until the next annual meeting of stockholders or until such director&rsquo;s successor
    shall have been duly elected and qualified</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: 0"><FONT STYLE="font-size: 8pt"><B>Nominees:</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: 0"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: 0"><FONT STYLE="font-size: 8pt">01)
        Christopher U. Missling, Ph.D.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: 0"><FONT STYLE="font-size: 8pt">02)
        Athanasios Skarpelos, M.D.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: 0"><FONT STYLE="font-size: 8pt">03)
        Bernd Metzner, Ph.D.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: 0"><FONT STYLE="font-size: 8pt">04)
        Elliot Favus, M.D.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: 0"><FONT STYLE="font-size: 8pt">05) Steffen Thomas, Ph.D.</FONT></P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>The Board of Directors recommends
    you vote FOR the following proposals:</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>For</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>Against</B></FONT></TD>
    <TD STYLE="text-align: center; padding-right: 0.05in; padding-left: 0.05in"><FONT STYLE="font-size: 8pt"><B>Abstain</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-left: 0.1in; padding-right: 0.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><I>Proposal 2. </I></FONT></TD>
    <TD COLSPAN="5"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><I>Ratification of the Approval and
    Adoption of the 2015 Omnibus Incentive Plan. </I>To ratify the approval and adoption of the Anavex Life Sciences Corp. 2015
    Omnibus Incentive Plan</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt"><B>&uml;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt"><B>&uml;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt"><B>&uml;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="5"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 0.05in; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><I>Proposal 3.</I></FONT></TD>
    <TD COLSPAN="5"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><I>Ratification of Independent Registered
    Public Accounting Firm. </I>To ratify the appointment of BDO USA, LLP as the Company&rsquo;s independent registered public
    accounting firm</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt"><B>&uml;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt"><B>&uml;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt"><B>&uml;</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="5"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 9%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 32%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: justify; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">To change
    the address on your account, please check the box at right and indicate your new address in the address space above. Please
    note that changes to the registered name(s) on the account may not be submitted via this method.</FONT></TD>
    <TD STYLE="text-align: center; vertical-align: middle"><FONT STYLE="font-family: Wingdings; font-size: 8pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Each of the persons
    named as proxies herein are authorized, in such person&rsquo;s discretion, to vote upon such other matters as may properly
    come before the Annual Meeting, or any adjournments thereof.</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 38%; text-align: justify; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Please
    check here if you plan to attend the meeting.</FONT></TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt">&uml;</FONT></TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 8pt">&uml;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 43%; text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>Yes</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>No</B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify; padding-left: 0.1in; padding-right: 1in"><FONT STYLE="font-size: 8pt"><B>Note: </B><FONT STYLE="font-family: Times New Roman, Times, Serif">Please
    sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing
    as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation,
    please sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please
    sign in partnership name by authorized person.</FONT></FONT></TD>
    <TD STYLE="width: 2%; text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; padding-left: 0.1in"><FONT STYLE="font-size: 8pt"><B>PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY CARD PROMPTLY
    USING THE ENCLOSED ENVELOPE.</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 91%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 7%; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.25pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.25pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.25pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.25pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Signature [PLEASE SIGN WITHIN BOX]</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Date</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Signature (Joint Owners)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Date</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</DIV>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 55 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Important Notice Regarding the Availability
of Proxy Materials for the Annual Meeting:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The Notice and Proxy Statement and Form
10-K are available at www.proxyvote.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; border-top: Black 2pt dashed">E06198-P75293</P>

<DIV STYLE="padding: 0.05in; border: Black 1pt solid">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-align: center; text-indent: 0"><B>ANAVEX LIFE SCIENCES CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-align: center; text-indent: 0"><B>PROXY FOR THE 2016 ANNUAL MEETING OF
STOCKHOLDERS TO BE HELD ON MAY 6, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-align: center; text-indent: 0"><B>THIS PROXY IS SOLICITED ON BEHALF OF
THE BOARD OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-align: justify; text-indent: 0">The undersigned stockholder(s) of ANAVEX
LIFE SCIENCES CORP., a Nevada corporation (the &ldquo;Company&rdquo;), hereby acknowledges receipt of the Notice of 2016 Annual
Meeting of Stockholders and Proxy Statement dated April 1, 2016 and hereby appoints Christopher U. Missling, Ph.D., with full
power of substitution, as attorney-in-fact and proxy for, and in the name and place of, the undersigned, and hereby authorizes
him to represent and to vote all of the shares which the undersigned is entitled to vote at the 2016 Annual Meeting of Stockholders
of the Company to be held on May 6, 2016, at10:00 am, local time, at the offices of K&amp;L Gates LLP, 599 Lexington Avenue, New
York, NY 10022, and at any adjournments thereof, upon the matters as set forth in the Notice of the 2016 Annual Meeting of Stockholders
and Proxy Statement, receipt of which is hereby acknowledged.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-align: justify; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-align: justify; text-indent: 0"><B>THIS PROXY, WHEN PROPERLY EXECUTED AND
RETURNED IN A TIMELY MANNER, WILL BE VOTED AT THE 2016 ANNUAL MEETING AND AT ANY ADJOURNMENTS THEREOF IN THE MANNER DIRECTED HEREIN
BY THE UNDERSIGNED STOCKHOLDER(S). IF NO SPECIFICATION IS MADE, THE PROXY WILL BE VOTED FOR APPROVAL OF PROPOSALS 1, 2 AND 3 AS
DESCRIBED IN THE PROXY AND IN ACCORDANCE WITH THE JUDGMENT OF THE PERSONS NAMED AS PROXIES HEREIN ON ANY OTHER MATTERS THAT MAY
PROPERLY COME BEFORE THE ANNUAL MEETING. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-align: center; text-indent: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in; text-align: justify; text-indent: 0"><B>THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS
THAT YOU VOTE &ldquo;FOR&rdquo; PROPOSALS 1, 2 AND 3. PLEASE SIGN, DATE AND RETURN THIS PROXY CARD PROMPTLY USING THE ENCLOSED
ENVELOPE, PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-top: black 1pt solid; padding-top: 4pt; padding-right: 0.1in; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Address
Changes/Comments:</B></FONT></TD>
    <TD NOWRAP STYLE="border-top: black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP STYLE="border-top: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; padding: 4pt 0.1in; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 65%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 2%; border-right: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 4pt; padding-right: 0.1in; padding-left: 0.1in">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B>(If you noted any Address
Changes/Comments above, please mark corresponding box on the reverse side.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Continued and to be signed on reverse
side</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</DIV>


<!-- Field: Page; Sequence: 56; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>tlogo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tlogo.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    9   _^X #D%D
M;V)E &3      ?_; (0  0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0(" @(" @(" @(" P,# P,# P,# P$! 0$! 0$" 0$"
M @(! @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# P,#_\  $0@ 0 $Q P$1  (1 0,1 ?_$ -8   $$ @,!
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M(-&!A/GT03:-LE3;HNVHTW1L7EWTZU+>[W+S=:NQ!T$MBJ>>9&(P4@!"0/\
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M)/ENU!2@3,])"6S,#+/*+<;*]3-%9K1]WWRST;E0E&D.(925*,I:IE:=)ZX
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M Q6&IEZ5^,5ZG;%J2P$<IOR[OJ */NHHJ@K\2)IC\BT'J2N&T:IOD9=5_":
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M\/.(: 50,M(4@C*4QI(Z9'"'G\_N);+B_E/'>;L,0X,7);4+&5(CIV+79U6
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M\6JHJ:9(2VI1).G\F9ZE,B)G,2G,S,21SCLNBMBT7VV-I:+JYK(_.ZX3ZX'
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MZB)^%7O@$]" ,(>_J$W]R;8-\59M=SJ6]LO+^Q"0C2F0Q3,H)[Q,X_)$W?\
M1%\;?_2/%MOL[)VR?J_OS5GE\&<3.,?"KLE*:<B6F;LI=G]9%?VN7^2F#J8N
MU0A?: W/_<@7Q%\;5_\ *+%4_4W-3_6F)I+8]./"%*2:?;M$@G.1>_61M/\
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M54E"H$*R ,\>I,Q"]1V59JTO'!L2,_9%T6H4AXQ@VE9 NJV?46D5F=6V<21
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MDH+6X6ZAIU]:SI29>8X5 >($8@],I9QFI=IG^*:J[5R6UTRVFP@I)'B2 "2
M098&0/S0U^<>-_*D;RPY.Y<A>/W'W+>-9C+XUF8KDUORG;89?8DF'8]5U,N,
MM-##Y>P%)\8Y#:N=W?L@KT54ULT=[L_\/,T1JZBGK0%^:$H"DKU$RS292'8>
MN/2,'W)<D;BJJYZG0]0KT^5)924RS*I*$^Z<XFUY$8SFF9\53*#%^-^-^3YE
MB_6_CV!<EVTVJH+6I$D<L8]?;0JZP6)=L&B%$?,&P Q[NX5VTTK(_0TEQ+U2
M\^TA,]#C8$P>A(,YB68D8<M]IJZKH$LTK3#A*DE:')R(&8201(]\_9$"*;PS
MYJ#BW+?P^%C.$6E5S1QKS9PSP7)SF_R_"\7L^.Y#,RTHI^7V(29T>+G#X=R@
MRAQX;H"0HB*6S]7NO;"+FE;J*BH8<MZV'W=*$++AF4K2D )P,@J?3$8B&$_M
M+<SU&L4;K3*D7)#[#:RM82V  I"E:CWE(F>PP^^6<>^4?-N)4;O)5'QWA\VG
MYQXTS.DPO';R5;NU&(8E(<>O)-SDSK,5BRN;"0ZILL,-HV#:"BDI*ND>RW3:
M%K?<)15*2N@?;*E:22ZN7ER2, D=87[Y:MTW1MM+;E.E"*YAP !0(:1_63,\
M23EW0R&/^-?,.!^2W+O(R>//'/)%;GO-X\BXSR++Y4M,=O<:I71A1@;>QIMM
MR')FU@ XZ*;;.K\);]-+=3NJSU5BM]M9JZFG4Q;E,O -I4%+,YCQ">DY32<C
MG.$';NT;G;-PWJY7%EMUJMN0>8(61)O2!B H"8.<Q&!RGX#\FYIQ1Y",8O?5
M&*<R91S)RCF'&^0QYCI0KGCOD*JI*:XP;+W (">K;R!#?)&G=TB2T:='91WU
MCH-Z6EBMMZ:@/JMC-&$.)GBV\%+(6@99%(,NG>)0DWOCZ^U_WC64A9;N+EP\
MQH@D!VG4A 4A<CF""1/#,=8=H^'?)_B+D"QSSA6@XUS*;R/PQQK@>4_OKDDZ
MB_<S-^/HDVOC9 #4*NE)D..OQ;-2..!@_P"HQL.PGOI*<NVU[JVU3W,U+;;5
M8ZLE..ME1U)&1*5G(_/U,E=G;&ZK)N.NW!:%4[HKZ-ELMKF VZRG2D@3 T8J
MGC,X880WW*?C+RY8>2UMS+8\(<?^0#%MQGQS01I]ER'/X[/'LLQ1PY%U)KZM
MDW@>KK"80N-HYW$/8**NRJFMY%^L V]1T%%4/TE4U5OJ4):Y-K/@E-)!,L^^
M?MCQ_:=VHM[U>[F&DU1K*-EHI\Q20E;0 )"9I$C+#$X''&/<\I_'WFGFF_[Z
M#@GB)C(I]-0UV)\Z1^3<DQ;-^+G !B1/D7,:EKXTC*UQ^P[R@QVW'XSHBB$@
M]Y(FC:;EM:AI4KJ'ZUQ]+BRIKRVBVL'W2DGQ(GF1V]D+^X;/>;@^KX!#*-=.
MT X5+"D+!/F)(2J2DREI,I_+$K/(WAK+^6N 7N/J"^K2S^IDX!DU+<WK3K-3
M;Y5QYD=%E,<;4(@NNQ8=[-I%;<(!-6D>W1%VTUJ"NM[-V54U32C;UJ5X$RU)
M2HS$IX3& A8N-KN539&Z*F>2+BVE'C5/2I21(SEC(XGYIQ'GD[C3RTY]P%9.
M>XKQ9C<["^1./<[P_AYB_E7E7FZX6_(D75?FF6E&;ALP+YZ2A0XR1G&V28 G
ME5?8]=LWW:&W;L*EG[PT.4-0TMP% 4AQU)#:D)&!"<)XSGB.R&=O#;N[]S6S
MX0*HO+16TSJ4*2KQ-MD>:%'$349E(RE@>D)7CSP\S]C.>'\YSG&<$;@0>>N:
MN:<KP*&]$LZ#  Y PL:''JC'6WX;42QDP;%@7G39: !<<(QZIOI/H-TT-+:+
MM2)56"NJPT&EJ7-1T'Q%9!P!$Y '-1C=KMIU]1=K74::0T5*ZM3B4HD E0F
MD' D&6,NDH:6/POR3RGY)>0$/&N/^/&\/J/+OCC.[+E.SE% SZ@/C_CW!K0Z
M.CA)7D],AVY,#$9>"2C0!+?[@1$TYW]P6ZBVE:&U+JQ4FCJ6UH6=3:BMXD.)
M';+#''3EG#1HMOW*MWK>WDBF53"LI5MJ;&E:4H;(4A1R))SEAJ&,6 _F%Y2?
@_7[%?_=.O_Z,U&WP=D_Q2_Z/^B)B^)N'^'_VD_SQ_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
