<SEC-DOCUMENT>0001387131-22-005577.txt : 20220429
<SEC-HEADER>0001387131-22-005577.hdr.sgml : 20220429
<ACCEPTANCE-DATETIME>20220429171935
ACCESSION NUMBER:		0001387131-22-005577
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220608
FILED AS OF DATE:		20220429
DATE AS OF CHANGE:		20220429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OneSpan Inc.
		CENTRAL INDEX KEY:			0001044777
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		IRS NUMBER:				364169320
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24389
		FILM NUMBER:		22877570

	BUSINESS ADDRESS:	
		STREET 1:		121 W WACKER DR.
		STREET 2:		STE 2050
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60601
		BUSINESS PHONE:		3127664001

	MAIL ADDRESS:	
		STREET 1:		121 W WACKER DR.
		STREET 2:		STE 2050
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	One Span Inc.
		DATE OF NAME CHANGE:	20180706

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VASCO DATA SECURITY INTERNATIONAL INC
		DATE OF NAME CHANGE:	19970821
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>ospn-def14a_060822.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>UNITED
STATES</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

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

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>SCHEDULE&nbsp;14A</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section&nbsp;14(a)
of<BR>
the Securities Exchange Act of 1934 (Amendment No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</B></P>

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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">Filed by the Registrant&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></FONT></TD></TR>
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    <TD COLSPAN="3">&nbsp;</TD></TR>
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    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">Filed by a Party other than the Registrant&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></FONT></TD></TR>
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    <TD COLSPAN="3">&nbsp;</TD></TR>
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    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">Check the appropriate box:</FONT></TD></TR>
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    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></FONT></TD></TR>
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    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
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    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
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    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Soliciting Material under &sect;240.14a-12</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 24pt"><B>OneSpan&nbsp;Inc.</B></FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Exact Name of Registrant as Specified In Its Charter)&nbsp;</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Name of Person(s)&nbsp;Filing Proxy Statement, if other than the Registrant)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">Payment of Filing Fee (Check all boxes that apply):</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">No fee required.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Fee paid previously with preliminary materials</FONT></TD></TR>
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    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>121 West Wacker Drive Suite 2050</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"><B>Chicago, Illinois 60601</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>To be held on June 8, 2022 </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"><B>TO THE STOCKHOLDERS:</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">Notice is hereby given that the 2022 annual
meeting of stockholders (including any adjournments, postponements or continuations thereof, the &ldquo;<B><I>Annual Meeting</I></B>&rdquo;)
of OneSpan Inc., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), will be held on June 8, 2022 at 10:00 a.m. Central
Daylight Time for the following purposes:</P>

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

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    <TD STYLE="width: 30px">&nbsp;</TD>
    <TD STYLE="width: 30px"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To elect seven directors to serve on our board of directors (our &ldquo;<B><I>Board</I></B>&rdquo;) until the 2023 annual meeting of stockholders, until their successors are duly elected and qualified or until their earlier death, resignation or removal;</FONT></TD></TR>
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    <TD STYLE="width: 30px">&nbsp;</TD>
    <TD STYLE="width: 30px"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To approve, on an advisory (non-binding) basis, our named executive officer compensation; and</FONT></TD></TR>
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    <TD STYLE="width: 30px">&nbsp;</TD>
    <TD STYLE="width: 30px; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">To ratify, on an advisory (non-binding) basis, the appointment of KPMG LLP as our independent registered public accounting firm for fiscal year 2022.</FONT></TD></TR>
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<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">These items of business are more fully
described in the proxy statement accompanying this Notice of Annual Meeting of Stockholders. We also will transact any other business
that may properly come before the Annual Meeting, but we are not aware of any such additional matters.</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">As we have done for previous meetings, this year&rsquo;s Annual Stockholders
Meeting will be held in a virtual meeting format only. You will not be able to attend the Annual Meeting in person.</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">You may register for and attend the webcast of the meeting via
the Internet at www.virtualshareholdermeeting.com/OSPN2022 when you enter your 16-digit control number included with the Notice
of Internet Availability or proxy card. Instructions on how to attend and participate in the Annual Meeting via the webcast are
posted at www.virtualshareholdermeeting.com/OSPN2022. You will be able to vote your shares while attending the Annual Meeting by
following the instructions on the website. You may revoke your proxy via the methods described in the accompanying proxy statement.</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">Our Board has fixed the close of business on April 11, 2022
as the record date for the determination of stockholders entitled to notice of and to vote at the Annual Meeting. Such stockholders
are urged to vote, even if their shares were sold after such date.</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"><B>YOUR VOTE IS VERY IMPORTANT.</B> It
is important that your voice be heard and your shares be represented at the Annual Meeting whether or not you are able to attend.
We urge you to vote TODAY by completing, signing and dating the enclosed proxy card and promptly mailing it in the postage pre-paid
envelope provided or following the instructions on the enclosed proxy card or Notice of Internet Availability to vote via the
Internet or by telephone. Please submit a proxy as soon as possible, so that your shares can be voted at the Annual Meeting in
accordance with your instructions. Please refer to &ldquo;Questions and Answers Regarding Voting Procedures and Other Information&rdquo;
on page 9 of the accompanying proxy statement and the instructions on the
proxy card or Notice of Internet Availability. Additionally, we hope that you can attend the Annual Meeting. If you are the beneficial
owner of your shares (that is, you hold your shares in &ldquo;street name&rdquo; through an intermediary such as a broker, bank
or other nominee), you will receive instructions from your broker, bank or other nominee as to how to vote your shares or submit
a proxy to have your shares voted. <B>We urge you to instruct your broker, bank or other nominee to vote your shares &ldquo;<U>FOR</U>&rdquo;
each of the proposals listed above. </B>&nbsp;</P>





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    <TD STYLE="width: 70%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 30%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>By Order of the Board of Directors,</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><IMG SRC="ospndef14a060822001.jpg" ALT="(GRAPHIC)">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Matthew Moynahan</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>President and Chief Executive Officer</I></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">April 29, 2022&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>

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<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; 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: 93%; padding-bottom: 3pt"><A HREF="#ospndef14a060822a001"><FONT STYLE="font-size: 10pt; text-transform: uppercase">OneSpan at a Glance</FONT></A></TD>
    <TD STYLE="width: 7%; padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a002"><FONT STYLE="font-size: 10pt">PROXY STATEMENT SUMMARY</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">3</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a003"><FONT STYLE="font-size: 10pt">QUESTIONS AND ANSWERS REGARDING VOTING PROCEDURES AND OTHER INFORMATION</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a004"><FONT STYLE="font-size: 10pt">INFORMATION REGARDING OUR BOARD OF DIRECTORS</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a005"><FONT STYLE="font-size: 10pt">&nbsp;Director Information</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a006"><FONT STYLE="font-size: 10pt">&nbsp;Director Skills, Qualifications and Characteristics</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a007"><FONT STYLE="font-size: 10pt">&nbsp;Board Diversity and Inclusion</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">19</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a008"><FONT STYLE="font-size: 10pt">&nbsp;Ongoing Board Refreshment</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a009"><FONT STYLE="font-size: 10pt">&nbsp;Board Independence</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a010"><FONT STYLE="font-size: 10pt">&nbsp;Board Leadership Structure</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a011"><FONT STYLE="font-size: 10pt">&nbsp;Lead Independent Director</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a012"><FONT STYLE="font-size: 10pt">&nbsp;Meetings of Our Board and Executive Sessions</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a013"><FONT STYLE="font-size: 10pt">&nbsp;Committees of Our Board</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">22</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a014"><FONT STYLE="font-size: 10pt">&nbsp;Director Selection Process</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a015"><FONT STYLE="font-size: 10pt">&nbsp;Board Evaluation Process</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">25</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a016"><FONT STYLE="font-size: 10pt">&nbsp;Our Board&rsquo;s Role in Risk Oversight</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a017"><FONT STYLE="font-size: 10pt">&nbsp;Communications with Directors</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">27</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a018"><FONT STYLE="font-size: 10pt">PROPOSAL 1: ELECTION OF DIRECTORS</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">28</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a019"><FONT STYLE="font-size: 10pt">PROPOSAL 2: ADVISORY VOTE ON EXECUTIVE COMPENSATION</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">37</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a020"><FONT STYLE="font-size: 10pt">PROPOSAL 3: ADVISORY VOTE ON RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">38</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a021"><FONT STYLE="font-size: 10pt">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS, DIRECTORS AND MANAGEMENT</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">39</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a022"><FONT STYLE="font-size: 10pt">DELINQUENT SECTION 16(A) REPORTS</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">41</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a023"><FONT STYLE="font-size: 10pt">EQUITY COMPENSATION PLAN INFORMATION</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">41</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a024"><FONT STYLE="font-size: 10pt">REPORT OF THE AUDIT COMMITTEE</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">42</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a025"><FONT STYLE="font-size: 10pt">FEES PAID TO INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2021 AND 2020</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">43</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a026"><FONT STYLE="font-size: 10pt">INFORMATION ABOUT OUR EXECUTIVE OFFICERS</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">44</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a027"><FONT STYLE="font-size: 10pt">EXECUTIVE COMPENSATION</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">45</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a028"><FONT STYLE="font-size: 10pt">&nbsp;Compensation Committee Report</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">45</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a029"><FONT STYLE="font-size: 10pt">&nbsp;Compensation Discussion and Analysis</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">45</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a030"><FONT STYLE="font-size: 10pt">&nbsp;2021 Summary Compensation Table</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">63</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a031"><FONT STYLE="font-size: 10pt">&nbsp;2021 Grants of Plan-Based Awards Table</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">64</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a032"><FONT STYLE="font-size: 10pt">&nbsp;Outstanding Equity Awards at 2021 Fiscal Year-End Table</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">65</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a033"><FONT STYLE="font-size: 10pt">&nbsp;2021 Stock Vested Table</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">66</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a034"><FONT STYLE="font-size: 10pt">&nbsp;Potential Payments Upon Termination or Change-in-Control</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">66</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a035"><FONT STYLE="font-size: 10pt">&nbsp;CEO Pay Ratio</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">69</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a036"><FONT STYLE="font-size: 10pt">DIRECTOR COMPENSATION</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">70</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a037"><FONT STYLE="font-size: 10pt">&nbsp;Compensation of Directors</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">70</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a038"><FONT STYLE="font-size: 10pt">&nbsp;2021 Director Compensation Table</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">71</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a039"><FONT STYLE="font-size: 10pt">&nbsp;Director Stock Ownership Policy</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right">72</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a040"><FONT STYLE="font-size: 10pt">&nbsp;Director Stock Trading Policy</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">72</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0.5in; padding-bottom: 3pt"><A HREF="#ospndef14a060822a041"><FONT STYLE="font-size: 10pt">Transactions With Related Persons</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">72</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt"><A HREF="#ospndef14a060822a042"><FONT STYLE="font-size: 10pt">OTHER MATTERS</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right">73</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a043"><FONT STYLE="font-size: 10pt">&nbsp;Costs of Solicitation</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">73</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a044"><FONT STYLE="font-size: 10pt">&nbsp;Stockholder Proposals for Our 2023 Proxy Materials</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">73</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></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="padding-bottom: 3pt; padding-left: 0.5in; width: 93%"><A HREF="#ospndef14a060822a045"><FONT STYLE="font-size: 10pt">&nbsp;Director Nominations by Stockholders and Stockholder Proposals of Other Business</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right; width: 7%"><FONT STYLE="font-size: 10pt">74</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a046"><FONT STYLE="font-size: 10pt">&nbsp;Annual Report</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">74</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a047"><FONT STYLE="font-size: 10pt">&nbsp;Cautionary Note Regarding Forward-Looking Statements</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">74</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a048"><FONT STYLE="font-size: 10pt">&nbsp;Incorporation by Reference</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">75</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 3pt; padding-left: 0.5in"><A HREF="#ospndef14a060822a049"><FONT STYLE="font-size: 10pt">&nbsp;Other Matters</FONT></A></TD>
    <TD STYLE="padding-bottom: 3pt; text-align: right"><FONT STYLE="font-size: 10pt">75</FONT></TD></TR>
</TABLE>

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

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<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>PROXY STATEMENT<BR>
FOR<BR>
ANNUAL MEETING OF STOCKHOLDERS<BR>
TO BE HELD JUNE 8, 2022</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-indent: 0.5in; text-align: justify">This proxy statement (this &ldquo;<B><I>Proxy
Statement</I></B>&rdquo;) is furnished in connection with the solicitation of proxies by the board of directors (our &ldquo;<B><I>Board</I></B>&rdquo;)
of OneSpan&nbsp;Inc., a Delaware corporation (the &ldquo;<B><I>Company</I></B>,&rdquo; &ldquo;<B><I>OneSpan</I></B>,&rdquo; &ldquo;<B><I>we</I></B>,&rdquo;
&ldquo;<B><I>us</I></B>&rdquo; or &ldquo;<B><I>our</I></B>&rdquo;), for use at our annual meeting of stockholders to be held on
June 8, 2022 at 10:00 a.m. Central Daylight Time (including any adjournments, postponements or continuations thereof, the &ldquo;<B><I>Annual
Meeting</I></B>&rdquo;), which will be held in a virtual meeting format only, via a live webcast that can be accessed by visiting
www.virtualshareholdermeeting.com/OSPN2022. Holders of record of shares of OneSpan common stock, par value $0.001 per share (our
&ldquo;<B><I>Common Stock</I></B>&rdquo; or &ldquo;<B><I>Company common stock</I></B>&rdquo;), at the close of business on April
11, 2022 will be entitled to vote on all matters to properly come before the Annual Meeting. Each share of our Common Stock is
entitled to one vote.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>IMPORTANT NOTICE REGARDING THE AVAILABILITY
OF PROXY MATERIALS FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON <FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">June</FONT>
8, 2022: THIS PROXY STATEMENT AND THE ACCOMPANYING FORM OF PROXY ARE FIRST BEING SENT OR GIVEN TO THE COMPANY&rsquo;S SECURITY
HOLDERS ON OR ABOUT <FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">April</FONT> 29, 2022.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a001"></A>ONESPAN
AT A GLANCE</B></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; text-indent: 0.5in; text-align: justify">OneSpan specializes in digital identity
and anti-fraud solutions that protect and facilitate electronic transactions to create exceptional and secure experiences for our
customers. Whether through automating agreements, detecting fraud or securing financial transactions, OneSpan helps reduce costs
and accelerate customer acquisition while improving the user experience.</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; text-align: justify">OneSpan&rsquo;s trusted identity security
solutions significantly reduce digital transaction fraud and enable regulatory compliance for thousands of customers, including
over half of the top 100 global banks.</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: center"><FONT STYLE="text-transform: uppercase"><B>Our
Mission</B></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; text-indent: 0.5in; text-align: justify">OneSpan&rsquo;s mission is to accelerate
our customers&rsquo; digital transformations by enabling secure, compliant and refreshingly easy digital customer agreements and
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; text-align: justify">We are a global company that focuses on
developing and maintaining a world class innovative workforce through collaboration, accountability, diversity, inclusion and transparency.</P>

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Our
Strategy</B></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; text-indent: 0.5in; text-align: justify">Our primary growth strategy is to leverage
our identity and security solutions to deliver the optimal level of security, user experience and human touch in digital interactions
and agreements. Our key growth objectives include:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Expanding our portfolio of solutions that enable institutions to mitigate fraud, reduce operational costs, comply with regulations, easily on-board customers and adaptively authenticate transactions;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Automating and securing digital customer journeys to remotely verify identities, mitigate application fraud and secure account openings and transactions;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Increasing sales to existing customers and acquiring new customers;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Driving increased demand for our products in new applications, markets and geographies;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Expanding our channel partner ecosystem; and</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="background-color: white; text-align: justify"><FONT STYLE="font-size: 10pt">Acquiring companies that support our strategic objectives, expand our technology portfolio or customer base and increase our recurring revenue.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a002"></A>PROXY
STATEMENT SUMMARY</B></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; text-indent: 0.5in; text-align: justify"><I>This summary is included to provide an
introduction and overview of the information contained in this Proxy Statement. This is a summary only and does not contain all
of the information we have included in this Proxy Statement. You should refer to the full Proxy Statement for more information
about us and the proposals you are being asked to consider. For more complete information regarding our 2021 performance, please
review our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (our &ldquo;<B>Annual Report</B>&rdquo;) on our
website at www.investors.onespan.com or on the SEC&rsquo;s website at www.sec.gov.</I></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: center"><FONT STYLE="text-transform: uppercase"><B>THE
ANNUAL MEETING</B></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"><B>Information About the Annual Meeting of Stockholders</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 144px"><FONT STYLE="font-size: 10pt"><B>Time and Date</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10:00 a.m. Central Daylight Time, on June 8, 2022</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 144px; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Access*</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Annual Meeting can be accessed virtually at www.virtualshareholdermeeting.com/OSPN2022</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 144px; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Record Date</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The close of business on April 11, 2022</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 144px; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Voting</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Each share of our Common Stock is entitled to one vote at the Annual Meeting (including one vote for each seat up for election at the Annual Meeting with respect to Proposal 1 &ndash; Election of Directors). Cumulative voting is not permitted in the election of directors.</FONT></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; text-align: justify"><B>YOUR VOTE IS VERY IMPORTANT. </B>Whether
or not you plan to attend the Annual Meeting, we encourage you to vote as soon as possible so that your shares are represented.
We urge you to vote TODAY by completing, signing and dating the enclosed proxy card and promptly mailing it in the postage pre-paid
envelope provided or following the instructions on the enclosed proxy card or Notice of Internet Availability (as described below)
to vote via the Internet or by telephone. Returning your proxy card will not prevent you from voting at the Annual Meeting but
will ensure that your vote is counted if you are unable to attend.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">As we have done for previous meetings,
this year&rsquo;s Annual Stockholders Meeting will be held in a virtual meeting format only. You will not be able to attend the Annual
Meeting in-person. If you plan to participate in the virtual meeting, please see &ldquo;Questions and Answers regarding Voting
Procedures and Other Information&rdquo; on page 9. Stockholders will be able to attend, vote and submit questions (both before,
and for a portion of, the meeting) from any location via the Internet.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Proposals
and Board Recommendations for Voting</B></FONT></P>

<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="background-color: black">
    <TD STYLE="width: 65%; padding: 5pt"><FONT STYLE="font-size: 10pt; color: white"><B>Proposals:</B></FONT></TD>
    <TD STYLE="width: 20%; padding: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Unanimous Board</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Recommendation:</B></FONT></TD>
    <TD STYLE="width: 15%; padding: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>For more</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>detail, see page:</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="padding: 5pt"><FONT STYLE="font-size: 10pt"><B>Proposal 1</B> &ndash; Election of 7 directors</FONT></TD>
    <TD STYLE="padding: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">&ldquo;<B><U>FOR</U></B>&rdquo; EACH OF OUR BOARD&rsquo;S NOMINEES</FONT></TD>
    <TD STYLE="padding: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">28</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 5pt"><FONT STYLE="font-size: 10pt"><B>Proposal 2 </B>&ndash; Approval, on an advisory (non-binding) basis, of our named executive officer (&ldquo;<B><I>NEO</I></B>&rdquo;) compensation</FONT></TD>
    <TD STYLE="padding: 5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>FOR</B></FONT></TD>
    <TD STYLE="padding: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">37</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="padding: 5pt"><FONT STYLE="font-size: 10pt"><B>Proposal 3 </B>&ndash; Ratification, on an advisory (non-binding) basis, of the appointment of KPMG LLP (&ldquo;<B><I>KPMG</I></B>&rdquo;) as our independent registered public accounting firm for fiscal year 2022</FONT></TD>
    <TD STYLE="padding: 5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>FOR</B></FONT></TD>
    <TD STYLE="padding: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">38</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>PROPOSAL
1&mdash;ELECTION OF DIRECTORS</B></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; text-align: justify; text-indent: 0.5in">Our Board is currently
comprised of the following eight directors: Marc D. Boroditsky, Garry L. Capers, Sarika Garg, Jean&nbsp;K. Holley, Marianne Johnson,
Michael McConnell, Alfred Nietzel and Marc Zenner. All but Ms. Holley have been nominated for re-election at the Annual Meeting
(collectively, our &ldquo;<B><I>Board&rsquo;s Nominees</I></B>&rdquo;). As previously announced, Ms. Holley is not standing for
re-election at the Annual Meeting pursuant to the Cooperation Agreement by and among the Company, on the one hand, and Legion Partners
Asset Management, LLC, a Delaware limited liability company, Legion Partners, L.P. I, a Delaware limited partnership, Legion Partners,
L.P. II, a Delaware limited partnership, Legion Partners Offshore I SP I, a Delaware segregated portfolio company of Legion Partners
Offshore Opportunities SPC I, a company organized under the laws of the Cayman Islands, Legion Partners, LLC, a Delaware limited
liability company, Legion Partners Holdings, LLC, a Delaware limited liability company, Christopher S. Kiper, an individual, and
Raymond T. White, an individual, on the other hand (the &ldquo;<B><I>Cooperation Agreement</I></B>&rdquo;). As of the Annual Meeting,
the size of our Board will be reduced from eight members to seven members. Proxies cannot be voted for a greater number of persons
than the number of Board&rsquo;s Nominees. You are being asked to elect the seven nominees of the Board to serve on our Board until
our 2023 annual meeting of stockholders (the &ldquo;<B><I>2023 Annual Meeting</I></B>&rdquo;), until their successors are duly
elected and qualified or until their earlier death, resignation or removal.</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">Information regarding
our Board&rsquo;s Nominees is set forth below. For additional information concerning this proposal and our Board&rsquo;s Nominees,
see &ldquo;Proposal 1&mdash;Election of Directors&rdquo; on page 27, and for additional information regarding our directors,
see &ldquo;Information Regarding our Board of Directors&rdquo; on page 17.</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"><B>OUR BOARD UNANIMOUSLY
RECOMMENDS VOTING &ldquo;<U>FOR</U>&rdquo; THE ELECTION OF EACH OF OUR BOARD&rsquo;S NOMINEES.</B></P>

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


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<P STYLE="margin-top: 0; margin-bottom: 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: black">
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Board Committees</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: black">
    <TD STYLE="width: 11%; padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Name<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="width: 5%; padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Age</B></FONT></TD>
    <TD STYLE="width: 10%; padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Director</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Since</B></FONT></TD>
    <TD STYLE="width: 38%; padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Principal Occupation</B></FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Audit</B></FONT></TD>
    <TD STYLE="width: 8%; padding-left: 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>MDCC</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B><SUP>(2)</SUP></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P></TD>
    <TD STYLE="width: 10%; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>CGN <SUP>(3)</SUP></B></FONT></TD>
    <TD STYLE="width: 10%; padding-left: 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>F&amp;S <SUP>(4)</SUP></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Marc Boroditsky</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">59</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">2019</FONT></TD>
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Chief Revenue Officer of Twilio Inc.</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Garry L. Capers</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">45</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Division President of Cloud Solutions of Deluxe Corporation</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #BFBFBF">
    <TD STYLE="padding-left: 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sarika Garg</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">46</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Co-founder and Chief Executive Officer at Cacheflow Inc. </FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Marianne Johnson</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">56</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Product Officer of Cox Automotive, Inc.</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Michael McConnell</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">56</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Private Investor</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;X</FONT></TD>
    <TD STYLE="padding-left: 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;X</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;(Chair)&nbsp;</P></TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Alfred Nietzel, <I>Chair of our Board</I></FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">60</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Retired Chief Financial Officer of CDK, Global, Inc.</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Marc Zenner</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">59</FONT></TD>
    <TD STYLE="padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt">2019</FONT></TD>
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Chief Financial Officer of Persefoni </FONT></TD>
    <TD STYLE="padding-left: 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">X</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">(Chair)</P></TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">X</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">(Chair)&nbsp;</P></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">All directors are independent in accordance with The Nasdaq Stock Market LLC (&ldquo;<B><I>Nasdaq</I></B>&rdquo;) listing rules. This table does not include Ms. Holley, who will not be standing for re-election at the Annual Meeting. Ms. Holley is currently the Chair of the Corporate Governance and Nominating Committee and a member of the Management Development and Compensation Committee. All Committee membership is as of April 11, 2022, with the exception of the Finance and Strategy Committee, which is as of July 30, 2021, the date it was disbanded.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Represents the Management Development and Compensation Committee.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Represents the Corporate Governance and Nominating Committee. Ms. Holley is the current Chair of the Corporate Governance and Nominating Committee.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Represents the Finance and Strategy Committee. The Finance and Strategy Committee was disbanded on July 30, 2021.</FONT></TD></TR>
</TABLE>

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

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<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"><FONT STYLE="text-transform: uppercase"><B>PROPOSAL
2&mdash;ADVISORY VOTE ON EXECUTIVE COMPENSATION</B></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; text-align: justify; text-indent: 0.5in">We are asking you to
approve, on an advisory (non-binding) basis, our NEO compensation for 2021, as disclosed in &ldquo;Compensation Discussion and
Analysis&rdquo; and the accompanying compensation tables and related narrative discussion beginning on page 45. We believe that
our NEO compensation program described throughout our &ldquo;Compensation Discussion and Analysis&rdquo; reflects an overall pay-for-performance
culture that aligns the interests of our executives with those of our stockholders. Our compensation programs are designed to provide
a competitive level of compensation to attract, motivate and retain talented and experienced executives and to reward our NEOs
for the achievement of short- and long-term strategic and operational goals and increased total stockholder return, while at the
same time avoiding the encouragement of unnecessary or excessive risk-taking. In addition, we have implemented a number of executive
compensation best practices and policies that we believe reflect sound governance and promote the long-term interests of 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">For additional information
concerning this proposal, see &ldquo;Proposal 2&mdash;Advisory Vote on Executive Compensation&rdquo; beginning on page 37. In
addition, please see the information set forth in &ldquo;Compensation Discussion and Analysis&rdquo; and the accompanying compensation
tables and related narrative discussion beginning on page 45, including the highlights of our 2021 executive compensation information
included under &ldquo;Executive Summary.&rdquo;</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: center"><FONT STYLE="text-transform: uppercase"><B>PROPOSAL
3&mdash;AUDITOR RATIFICATION</B></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; text-align: justify; text-indent: 0.5in">We are asking you to
ratify, on an advisory (non-binding) basis, the appointment of KPMG as our independent registered public accounting firm for fiscal
year 2022. Although a stockholder vote for this appointment is not required by law and is not binding on us, our Audit Committee
will take your vote on this proposal into consideration when appointing or making changes to our independent registered public
accounting firm in the future.</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">For additional information
concerning this proposal, see &ldquo;Proposal 3&mdash;Advisory Vote on Ratification of Independent Registered Public Accounting
Firm&rdquo; on page 38, and for information concerning the fees we paid to KPMG during 2021 and 2020, see &ldquo;Fees Paid to
Independent Registered Public Accounting Firm for 2021 and 2020&rdquo; on page 43.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Corporate
Governance Highlights</B></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; text-align: justify; text-indent: 0.5in">We
are committed to effective corporate governance and high ethical standards. We believe that strong corporate governance policies
and practices strengthen the accountability of our Board and management, lead to better business performance and align the long-term
interests of our management team with our stakeholders, including our stockholders, our customers and our employees. For additional
information regarding our Board&rsquo;s policies and practices and the composition of our Board, see &ldquo;Information Regarding
Our Board of Directors&rdquo; on page 17 and &ldquo;Compensation of Directors&rdquo; on page 70. Highlights of our current corporate
governance policies and practices and features of our Board include:</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"><B>Board Composition</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="4" STYLE="border-bottom: #7F7F7F 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="vertical-align: top; width: 3%; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="border-right: #7F7F7F 1pt solid; width: 47%; padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">All eight current directors are independent</FONT></TD>
    <TD STYLE="vertical-align: top; width: 3%; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="width: 47%; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Continued board refreshment over the last three years</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="border-right: #7F7F7F 1pt solid; padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Declassified Board</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Average tenure of our Board&rsquo;s Nominees of approximately less than two years</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="border-right: #7F7F7F 1pt solid; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Disclosure of Board skills, qualifications and characteristics matrix</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">One-third of our Board&rsquo;s Nominees are female or diverse &nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="border-right: #7F7F7F 1pt solid; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Separate Chair and CEO, with independent Chair</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Two female directors (excluding Ms. Holley, who is not standing for re-election)</FONT></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>Board Governance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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 COLSPAN="4" STYLE="border-bottom: #7F7F7F 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; border-right: #7F7F7F 1pt solid; padding-bottom: 10pt; padding-left: 0in; text-align: justify; width: 47%"><FONT STYLE="font-size: 10pt">Majority vote standard for uncontested director elections</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 0in; text-align: justify; width: 47%"><FONT STYLE="font-size: 10pt">Regular executive sessions of the independent directors</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; border-right: #7F7F7F 1pt solid; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">All standing Board committees comprised solely of independent directors</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Board oversight of CEO succession planning</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; border-right: #7F7F7F 1pt solid; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Annual Board self-evaluation and assessment of Board composition</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Particular key risk management functions designated to Board committees</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; border-right: #7F7F7F 1pt solid; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Annual Board review of overall risk management program </FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Executive officers and directors prohibited from hedging and pledging OneSpan securities</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; border-right: #7F7F7F 1pt solid; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Prohibition on any director sales of OneSpan securities through August 2022</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Code of Ethics and Conduct administered by management under the supervision of our Board</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; border-right: #7F7F7F 1pt solid; padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Sufficient stock ownership requirements for directors and executive officers</FONT></TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; padding-left: 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#10003;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 0in; text-align: justify"><FONT STYLE="font-size: 10pt">Active stockholder outreach program with continued focus on disclosure and governance</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Director
Skills, Qualifications and Characteristics</B></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; text-align: justify; text-indent: 0.5in">The Corporate Governance
and Nominating Committee regularly evaluates the skills, qualifications and characteristics identified as important for directors
to provide effective oversight to our Company. See &ldquo;Information Regarding Our Board of Directors&mdash;Director Skills, Qualifications
and Characteristics&rdquo; on page 18 for additional information.</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: center"><FONT STYLE="text-transform: uppercase"><B>STOCKHOLDER
ENGAGEMENT</B></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; text-align: justify; text-indent: 0.5in">The Company proactively
and regularly engages with its stockholders. In 2021, the Company directly engaged with 13 of its top 15 stockholders (other than
index funds, exchange traded funds and quantitative funds) through in-person meetings, virtual meetings or telephone calls.</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 Company has taken
the following specific actions in response to its stockholder engagement efforts:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Provided new software and recurring revenue disclosures and longer-term financial targets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Added directors to our Board with skills and experience that reflect input received from investors
on Board composition;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Adopted a $50 million share repurchase program; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Performed a complete business review and began activities to enhance the Company operating model
and streamline its business including cost reduction actions.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>2021
CORPORATE RESPONSIBILITY HIGHLIGHTS</B></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; text-align: justify; text-indent: 0.5in; color: #1D1C1D">OneSpan
secures our customers&rsquo; digital journeys from first engagement through the transaction lifecycle with our suite of verified
identity, intelligent fraud detection and secure account opening products and services. As a global corporate citizen with operations
and suppliers in many countries, we are committed to sustainability, diversity, inclusion and good governance. We also believe
that our commitment to corporate social responsibility is valued by our customers, our employees and our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #1D1C1D">&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%; border-top: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ENVIRONMENT</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; width: 3%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify"><FONT STYLE="color: #1D1C1D">&#9679;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify"><FONT STYLE="color: #1D1C1D">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify"><FONT STYLE="color: #1D1C1D">&#9679;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify"><FONT STYLE="color: #1D1C1D">&#9679;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify"><FONT STYLE="color: #1D1C1D">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify"><FONT STYLE="color: #1D1C1D">&#9679;</FONT></P></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; width: 72%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify"><FONT STYLE="color: #1D1C1D">Continued
        </FONT>monitoring of our product manufacturing suppliers&rsquo; compliance with ISO 14001, the international standard that specifies
        requirements for an effective environmental management system</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">Began
        investigating use of recyclable materials in product manufacturing</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">Hosting
        our SaaS services primarily with Amazon Web Services, which has made environmental and sustainability commitments, engaging in
        efforts to consolidate environments</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">Continuing reduction of office footprint&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SOCIAL</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&#9679;&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&#9679;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&#9679;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&#9679;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in;  text-align: justify"><FONT STYLE="color: #1D1C1D">Through
the OneSpan Acts program, OneSpan donated money and/or our employees have donated their time to organizations globally such as YourPassion1st,
Canadian UNICEF #GiveAVax campaign, Volkshilfe in Austria and Digital For Youth in Belgium </FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; color: #1D1C1D; text-align: justify">Fostering a dynamic and engaged workforce through the values of collaboration, accountability, transparency and speed, as well
        as respect for human rights</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; color: #1D1C1D"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; color: #1D1C1D; text-align: justify">Developed a hybrid work model to allow employees flexibility to be where they work best&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>GOVERNANCE</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&#9679;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&#9679;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&#9679;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&#9679;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">&#9679;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">Board led by an independent Chair and consisting of majority independent directors</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">Active Board refreshment program with increased diverse representation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">Active stockholder outreach program with continued focus on disclosure and governance</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">Annual Board self-evaluation and assessment of Board composition</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in; text-align: justify">See other governance practices in &ldquo;Corporate Governance Highlights&rdquo; above&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B><A NAME="ospndef14a060822a003"></A>QUESTIONS
AND ANSWERS REGARDING VOTING PROCEDURES AND OTHER INFORMATION</B></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; text-align: center"><B>QUESTIONS AND ANSWERS ABOUT THE PROXY
MATERIALS AND VOTING</B></P>

<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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.</B>&nbsp;</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>If I received a Notice of Internet Availability,
how may I receive proxy materials?</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We use the &ldquo;e-proxy&rdquo; rules
        of the SEC, which allow companies to furnish their proxy materials over the Internet instead of mailing printed copies of the proxy
        materials to each stockholder. As a result, we are mailing to most of our stockholders a notice about the Internet availability
        of the proxy materials (the &ldquo;<B><I>Notice of Internet Availability</I></B>&rdquo;), which contains instructions on how to
        access this Proxy Statement, the accompanying Notice of 2022 Annual Meeting of Stockholders and the Annual Report online.</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">If you received the Notice of Internet
        Availability by mail, you will not automatically receive a printed copy of the proxy materials in the mail. Instead, the Notice
        of Internet Availability instructs you on how to access and review all of the important information contained in the proxy materials
        and how you may submit your proxy. The Notice of Internet Availability also contains information about how stockholders may, if
        desired, request a printed copy of these proxy materials.</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">Stockholders who do not receive the Notice
        of Internet Availability will receive a printed copy of these proxy materials by mail unless they have previously requested electronic
        delivery. We are providing notice of the availability of those materials by e-mail to those stockholders who have previously elected
        to receive the proxy materials electronically. The e-mail contains a link to the website where those materials are available as
        well as a link to the proxy voting website.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><B>2. </B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Who can vote at the Annual Meeting?</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All stockholders who owned shares of our
        Common Stock as of the close of business on April 11, 2022 (the &ldquo;<B><I>Record Date</I></B>&rdquo;) are entitled to receive
        notice of the Annual Meeting and to vote the shares they owned as of the close of business on the Record Date.</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">As of the close of business on the Record
        Date, 40,630,593 shares of our Common Stock were outstanding and entitled to vote, and we had 149 stockholders of record. The number
        of stockholders of record does not include beneficial owners of our Common Stock who hold their shares in &ldquo;street name.&rdquo;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><B>3. </B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>How many votes do I have?</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each stockholder is entitled to
one vote for each share of Common Stock owned as of the close of business on the Record Date for each matter presented at the
Annual Meeting (including one vote for each seat up for election at the Annual Meeting with respect to Proposal 1&mdash;Election
of Directors). Cumulative voting is not permitted in the election of directors.&nbsp;</P></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">&nbsp;</P>


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


        <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>4.</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>How can I vote my shares?</B></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">Stockholders of record. Stockholders of record as of the Record Date may
vote their shares or submit a proxy to have their shares voted by one of the following methods:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">By Internet &#8211; You may submit your proxy online via the Internet by following the instructions provided
on the enclosed proxy card or Notice of Internet Availability.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">By Telephone &#8211; You may submit your proxy by touch-tone telephone by calling the toll-free number
on the enclosed proxy card or Notice of Internet Availability.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">By Mail &#8211; If you received your proxy materials by mail, you may submit your proxy by signing, dating
and returning your proxy card in the postage-paid envelope provided.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">At the Virtual Meeting &#8211; Stockholders who attend the Annual Meeting should follow the instructions
at www.virtualshareholdermeeting.com/OSPN2022 to vote during the meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is incorporated under Delaware
        law, which specifically permits electronically transmitted proxies, provided that each such proxy contains or is submitted with
        information from which the inspector of election can determine that such proxy was authorized by the stockholder. The electronic
        voting procedures provided for the Annual Meeting are designed to authenticate each stockholder by the use of a control number
        to allow stockholders to vote their shares and to confirm that their instructions have been properly recorded.</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"><B>Beneficial Owners.</B> If you were the
        beneficial owner of shares (that is, you held your shares in &ldquo;street name&rdquo; through an intermediary such as a broker,
        bank or other nominee) as of the Record Date, you will receive instructions from your broker, bank or other nominee as to how to
        vote your shares or submit a proxy to have your shares voted. In most cases, you will be able to do this by mail, via the Internet
        or by telephone. Alternatively, you may obtain a &ldquo;legal proxy&rdquo; from your broker, bank or other nominee and register
        to attend the Annual Meeting at www.virtualshareholdermeeting.com/OSPN2022 by following the instructions described below.</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">As discussed below, your broker,
bank or other nominee may not be able to vote your shares on any matters at the Annual Meeting unless you provide instructions
on how to vote your shares. You should instruct your broker, bank or other nominee how to vote your shares by following the directions
provided by your broker, bank or other nominee.&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>5.</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>What is the difference between holding shares as a &ldquo;stockholder of record&rdquo; and as a &ldquo;beneficial owner&rdquo;?</B></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: 0; text-align: justify">If your shares are registered directly in your name
with our transfer agent, Broadridge Financial Solutions, Inc. (which may be referred to as &ldquo;Broadridge&rdquo; in the materials you
receive), you are considered the &ldquo;stockholder of record&rdquo; with respect to those shares, and we have sent this Proxy Statement
directly to you or made this Proxy Statement available directly to you.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If you hold your shares in an account with a broker,
bank or other nominee, rather than of record directly in your own name, then the broker, bank or other nominee is considered the record
holder of that stock. You are considered the beneficial owner of that stock, and your stock is held in &ldquo;street name.&rdquo; This
Proxy Statement has been forwarded to you by your broker, bank or other nominee. As the beneficial owner, you have the right to direct
your broker, bank or other nominee regarding how to vote your shares, and you are also invited to attend the Annual Meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If you hold shares at a broker, bank or other nominee,
it is important that you instruct your broker on how your shares should be voted. Your broker, bank or other nominee has enclosed a voting
instruction form for you to use in directing your broker, bank or other nominee as to how to vote your shares. You must follow these instructions
in order for your shares to be voted. Your broker is required to vote those shares in accordance with your instructions. We urge you to
instruct your broker, bank or other nominee, by following the instructions on the enclosed voting instruction form, to vote your shares
in line with our Board&rsquo;s recommendations on the voting instruction form.</P>



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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>6.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>What is a proxy?</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A proxy is your legal designation of another person to vote
        the stock you own. That other person is called a proxy. If you designate someone as your proxy in a written document, that document
        is also called a proxy or a proxy card. Our Board has designated Matthew Moynahan and MJ Capodanno as the Company&rsquo;s proxies
        for the Annual Meeting.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><B>7. </B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>How can I revoke my proxy or change my vote?</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">You can revoke your proxy or change your vote at any time prior
        to the Annual Meeting. Only your latest dated proxy will count.</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">If you are a stockholder of record who has properly executed
        and delivered a proxy, you may revoke your proxy at any time prior to the Annual Meeting by any of the following means:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td></tr></table>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">dating,
signing and submitting a new proxy card bearing a later date;</FONT></TD>
</TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">voting
at a later time via the Internet or by telephone as instructed above (only your latest Internet or telephone proxy will be counted);</FONT></TD>
</TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">delivering
a written notice to the Office of the Corporate Secretary prior to the Annual Meeting by any means, including facsimile, stating that
your proxy is revoked; or</FONT></TD>
</TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif">attending the virtual Annual Meeting and voting during the meeting (as described below).</FONT></TD>
</TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Your attendance at the Annual Meeting will
        not revoke your proxy unless you specifically request it or you vote at the Annual Meeting. If your shares are held in &ldquo;street
        name,&rdquo; your broker, bank or other nominee should provide instructions explaining how you may change or revoke your voting
        instructions. In general, &ldquo;street name&rdquo; holders may change their vote at any time prior to 5:00 p.m. Eastern Daylight
        Time on the day before the Annual Meeting date. In the absence of a revocation, shares represented by proxies will be voted at
        the Annual Meeting.</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">Whether or not you plan to attend the Annual
        Meeting, we urge you to sign, date and return the enclosed proxy card in the postage-paid envelope provided, or vote via the Internet
        or by telephone as instructed on the proxy card or Notice of Internet Availability.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>8.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>What if I receive more than one Notice of Internet Availability, proxy card or voting instruction form?</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It generally means your shares are registered
        differently or are in more than one account. Please provide voting instructions for each proxy card or, if you vote via the Internet
        or by telephone, vote once for each Notice of Internet Availability or proxy card you receive so as to ensure that all of your
        shares are voted.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>9. </B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Will my shares be voted if I do nothing, or if I do not vote for some of the proposals? </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If your shares are registered in your name,
        you must sign and return a proxy card, vote via the Internet or by telephone, or attend and vote at the Annual Meeting in order
        for your shares to be voted. If you provide specific voting instructions, your shares will be voted as you have instructed. If
        you validly execute and date the proxy card and do not indicate how your shares should be voted on any matter, your shares will
        be voted in accordance with our Board&rsquo;s recommendations on that matter. We urge you to sign, date and return the enclosed
        proxy card in the postage-paid envelope provided, or vote via the Internet or by telephone as instructed on the proxy card or Notice
        of Internet Availability, whether or not you plan to attend the Annual Meeting.</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">Our Board is not aware of any matters that
        are expected to come before the Annual Meeting other than those described in this Proxy Statement. If any other matter is presented
        at the Annual Meeting upon which a vote may be properly taken, shares represented by all proxies received by the Company will be
        voted with respect thereto at the discretion of the persons named as proxies.</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">If your shares are held in &ldquo;street
name&rdquo; (that is, held for your account by a broker, bank or other nominee), you will receive voting instructions from your broker,
bank or other nominee. You must follow these instructions in order for your shares to be voted. Your broker is required to vote those
shares in accordance with your instructions. If you do not instruct your broker, bank or other nominee how to vote your shares, then,
your broker, bank or other nominee will not be able to vote your shares with respect to Proposal 1 or Proposal 2, but will be able to
vote your shares with respect to Proposal 3. We urge you to instruct your broker, bank or other nominee, by following the instructions
on the enclosed voting instruction form, to vote your shares in accordance with our Board&rsquo;s recommendations on the voting instruction
form, whether or not you plan to attend the Annual Meeting.&nbsp;</P></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="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>10.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>What constitutes a quorum? </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A quorum must be present in order for business
        to be conducted at the Annual Meeting. For purposes of the Annual Meeting, the presence by means of remote communication or by
        proxy of the holders of a majority in voting power of the outstanding shares of our Common Stock entitled to vote at the meeting
        shall constitute a quorum. In the absence of a quorum, the chair of the meeting or the stockholders so present (by a majority in
        voting power thereof) may adjourn the Annual Meeting without further notice. Abstentions and broker non-votes (if any) will be
        counted for purposes of determining whether a quorum is present at the Annual Meeting.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><B>11.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Is my vote confidential?</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Proxy instructions, ballots and voting
        tabulations that identify individual stockholders are handled in a manner that protects your voting privacy. Your vote will not
        be disclosed within the Company or to other third parties, except: (i) as necessary to meet applicable legal requirements, (ii)
        to allow for the tabulation and certification of votes and (iii) to facilitate a proxy solicitation.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
</TABLE>

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<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>QUESTIONS AND ANSWERS ABOUT THE ITEMS
TO BE VOTED ON AT THE ANNUAL MEETING</B></P>

<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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>12.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>What proposals will be voted on at the Annual Meeting?</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: bottom; width: 15%; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 42%; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: middle; width: 26%; padding-bottom: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>OneSpan Board&rsquo;s </B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Recommendation</B></FONT></TD>
    <TD STYLE="vertical-align: middle; width: 17%; padding-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>More Information </B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>(Page No.)</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposal 1</B></FONT></TD>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Election of 7 directors</FONT></TD>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">FOR EACH OF OUR BOARD&rsquo;S NOMINEES</FONT></TD>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center">28</TD></TR>
<TR>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposal 2</B></FONT></TD>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Approval, on an advisory (non-binding) basis, of our NEO compensation</FONT></TD>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">FOR</FONT></TD>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">37</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposal 3</B></FONT></TD>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Ratification, on an advisory (non-binding) basis, of the appointment of KPMG as our independent registered public accounting firm for fiscal year 2022</FONT></TD>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">FOR</FONT></TD>
    <TD STYLE="padding-top: 10pt; padding-bottom: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">38</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"><B>OUR BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;<U>FOR</U>&rdquo; THE ELECTION OF EACH OF OUR BOARD&rsquo;S NOMINEES UNDER PROPOSAL 1 AND &ldquo;<U>FOR</U>&rdquo; PROPOSALS
2 AND 3.</B></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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>13.</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>What vote is required to approve each of the proposals to be voted on at the Annual Meeting, and what is the effect of abstentions, withhold votes and broker non-votes on each of the proposals?</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="width: 31%; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-top: 5pt; padding-bottom: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-top: 5pt; padding-bottom: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Vote Required for Approval</B></FONT></TD>
    <TD STYLE="width: 3%; padding-top: 5pt; padding-bottom: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 31%; padding-top: 5pt; padding-bottom: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Effect of Abstentions and Broker Non-Votes</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-left: 3pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Proposal 1:</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">Election of 7 directors</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">Each director will be elected by a majority of votes cast with respect to that director&rsquo;s election at any meeting for the election of directors at which a quorum is present. </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">Abstentions have no effect on the outcome of the election of directors. Broker discretionary voting is not permitted, and broker non-votes have no effect on the outcome of this proposal.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 3pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Proposal 2:</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">Approval, on an advisory (non-binding) basis, of our NEO compensation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">The affirmative vote of a majority of the votes cast is required to approve this proposal.</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">Abstentions have no effect on the outcome of this proposal. Broker discretionary voting is not permitted, and broker non-votes have no effect on the outcome of this proposal.</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-left: 3pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Proposal 3:</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">Ratification, on an advisory (non-binding) basis, of the appointment
        of KPMG as our independent registered public accounting firm for fiscal year 2022</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">The affirmative vote of a majority of the votes cast is required to approve this proposal.</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">Abstentions have no effect on the outcome of this proposal. Broker discretionary voting is permitted. </FONT></TD></TR>
</TABLE>


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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>14.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>What is a broker non-vote, and will there be any broker non-votes at the Annual Meeting?</B></FONT></TD></TR>
</TABLE>
<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">Broker non-votes occur
when brokers do not have discretionary voting authority to vote certain shares held in &ldquo;street name&rdquo; on particular
non-routine proposals and the beneficial owner of those shares has not instructed the broker to vote on those proposals. The ratification
of the appointment of registered public accounting firm is considered a routine proposal, and brokers have discretion to vote on
that matter even if no instructions are received from the &ldquo;street name&rdquo; holder. Broker non-votes are not counted in
the tabulations of the votes cast at the Annual Meeting and therefore will have no effect on the outcome of the 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: center"><B>QUESTIONS AND ANSWERS ABOUT ATTENDING
THE ANNUAL MEETING</B></P>

<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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>15.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>How do I attend the Annual Meeting?</B></FONT></TD></TR>
</TABLE>
<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 year&rsquo;s annual
meeting will be held entirely in a virtual meeting format only. You will not be able to attend the Annual Meeting in person. As
described above, you are entitled to participate in the Annual Meeting if you were a stockholder of record as of the close of business
on the Record Date or hold a legal proxy for the meeting provided by your broker, bank or other nominee.</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"><B><I>Registering to
Attend the Annual Meeting&mdash;Stockholders of Record. </I></B>If you were a stockholder of record as of the close of business
on the Record Date, you may register to attend the Annual Meeting by accessing www.virtualshareholdermeeting.com/OSPN2022 and entering
the 16-digit control number provided on your proxy card or Notice of Internet Availability.</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">Although the meeting
webcast will begin at 10:00 a.m. Central Daylight Time on June 8, 2022, we encourage you to access the meeting site prior to the
start time to allow ample time to log into the meeting webcast and test your computer system. Accordingly, the Annual Meeting site
will first be accessible to registered stockholders beginning at 9:45 a.m. Central Daylight Time on the day of the meeting. If
you encounter difficulties accessing the virtual meeting or during the meeting time, please call 844-986-0822 (US) or 303-562-9302
(International). In the event of any technical disruptions that prevent the chair from hosting the Annual Meeting within 30 minutes
of the date and time set forth above, the meeting may be adjourned or postponed.</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">Whether or not you
plan to attend the Annual Meeting, we urge you to sign, date and return the enclosed proxy card in the postage-paid envelope provided,
or vote via the Internet or by telephone as instructed on the proxy card or Notice of Internet Availability. Additional information
and our proxy materials can also be found at www.virtualshareholdermeeting.com/OSPN2022.</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"></P>

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<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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>16.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Can I ask questions at the Annual Meeting?</B></FONT></TD></TR>
</TABLE>
<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 as of
the close of business on the Record Date who register, attend and participate in the Annual Meeting will have an opportunity to
submit questions live via the Internet during a designated portion of the meeting. You must have your control number provided on
your proxy card or Notice of Internet Availability.</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"><B>Questions and Answers about Miscellaneous Matters</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>17.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Who will count the votes and serve as inspector of election?</B></FONT></TD></TR>
</TABLE>
<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 have retained Broadridge
Financial Solutions, Inc. to assist as master tabulator and Mr. Peter Sablich to serve as an independent inspector of election.
In such capacity, Broadridge Financial Solutions, Inc. and Mr. Sablich will count and certify votes at the Annual Meeting.</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>18.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>How do I find out the results of the vote?</B></FONT></TD></TR>
</TABLE>
<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 expect to report
preliminary results on a Form 8-K within four business days after the Annual Meeting. We will report final results as certified
by the independent inspector of elections as soon as practicable on a Form 8-K. You can access both Form 8-Ks and our other reports
we file with the Securities and Exchange Commission (the &ldquo;<B><I>SEC</I></B>&rdquo;) on our website at www.investors.onespan.com
or on the SEC&rsquo;s website at www.sec.gov. The information provided on these websites is for informational purposes only and
is not 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>19.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Is a list of registered stockholders available?</B></FONT></TD></TR>
</TABLE>
<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
Company&rsquo;s list of stockholders as of the close of business on the Record Date will be available for inspection by the
Company&rsquo;s stockholders for at least ten days prior to the Annual Meeting for any purpose germane to the Annual Meeting.
If you want to inspect the stockholder list, please call the office of the Corporate Secretary at (312) 766-4001 to schedule
an appointment during ordinary business hours. The stockholder list will also be open to the examination of any stockholder
during the Annual Meeting at www.virtualshareholdermeeting.com/OSPN2022, accessible using the Stockholder List link located
in the footer of the meeting page. An attestation of ownership is required to access the list.</P>

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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>20.</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Do I have any dissenters&rsquo; or appraisal rights with respect to any of the matters to be voted on at the Annual Meeting?</B></FONT></TD></TR>
</TABLE>
<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">No. Delaware law does
not provide stockholders any dissenters&rsquo; or appraisal rights with respect to the matters to be voted on at the Annual Meeting.</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>21.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>What is &ldquo;householding&rdquo; and how does it affect me?</B></FONT></TD></TR>
</TABLE>
<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 Company has adopted
a procedure approved by the SEC called &ldquo;householding.&rdquo; Under this procedure, stockholders of record who have the same
address and last name, and who do not participate in electronic delivery of proxy materials, will receive only one set of the proxy
materials, unless one or more of these stockholders notifies the Company that they wish to receive individual copies. We believe
this will provide greater convenience for stockholders, as well as cost savings for the Company by reducing the number of duplicate
documents that are mailed. We also believe householding reduces the environmental impact of the Annual Meeting by reducing the
number of duplicate documents that are printed. Stockholders who participate in householding will continue to receive separate
proxy cards, if you receive your proxy materials by mail. Stockholders who receive the Notice of Internet Availability will receive
instructions on how to vote their shares via the Internet. Householding will not in any way affect your rights as a 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 may revoke your
consent to householding at any time by sending your name, the name of your brokerage firm and your account number to Householding
Department, 51 Mercedes Way, Edgewood, New York 11717 (telephone number: 1-800-542-1061). The revocation of your consent to householding
will be effective 30 days following its receipt. In any event, if you did not receive an individual copy of this Proxy Statement
or our Annual Report, we will send a copy to you if you address your written request to or call OneSpan Inc., 121 West Wacker Drive,
20th Floor, Chicago, IL 60601, Attention: Corporate Secretary (telephone number: 312-766-4001).</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">If you are eligible
for householding, but you and other stockholders of record with whom you share an address currently receive multiple copies of
our proxy materials, or if you hold stock in more than one account, and in either case you wish to receive only a single copy of
each of these documents for your household, please contact the Company if you hold your stock directly by mail at OneSpan Inc.,
121 West Wacker Drive, 20th Floor, Chicago, IL 60601, Attention: Corporate Secretary, by phone at (312) 766-4001 or by email at
legal@onespan.com. Alternatively, if you hold your stock in a brokerage account, please contact your broker. If you participate
in householding and wish to receive a separate copy of our proxy materials, or if you do not wish to participate in householding
and prefer to receive separate copies of these documents in the future, please contact the Company or your broker.</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 hereby undertake
to deliver promptly, upon written or oral request, a copy of the proxy materials to a stockholder at a shared address to which
a single copy of the proxy materials was delivered. Street name holders can request information about householding from their brokers,
banks or other stockholders of record.</P>


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


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<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="text-transform: uppercase"><B><A NAME="ospndef14a060822a004"></A>INFORMATION
REGARDING OUR BOARD OF DIRECTORS</B></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; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a005"></A>Director
Information</B></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; text-align: justify; text-indent: 0.5in">Our Board is currently
comprised of eight members who are all independent directors. Ms. Holley is currently a member of our Board but is not standing
for re-election at the Annual Meeting. Our Board&rsquo;s committee structure currently consists of three<SUP>(1)</SUP> principal
committees that are all comprised of independent directors: the Audit Committee, the Management Development and Compensation Committee
and the Corporate Governance and Nominating Committee. Our Board may also establish other ad hoc or sub-committees, the composition,
number and membership of which our Board may revise from time to time, as appropriate.</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-indent: 0.5in">The following table lists each of our current
directors and sets forth the information about each of the committees of our Board:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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; background-color: #D0CECE">
    <TD COLSPAN="4">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DIRECTORS AND BOARD COMMITTEES AS OF
        APRIL 11, 2022</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"><I>(M = Committee Member; C = Committee
Chair)</I>&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top; background-color: black">
    <TD STYLE="width: 40%; padding-bottom: 8pt; padding-left: 5pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Director Name</B></FONT></TD>
    <TD STYLE="width: 20%; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Audit</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Committee(2)</B></FONT></TD>
    <TD STYLE="width: 20%; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Management</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Development</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>and</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Compensation</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Committee(3)</B></FONT></TD>
    <TD STYLE="width: 20%; padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Corporate</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Governance</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>and Nominating</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Committee(4)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #A6A6A6">
    <TD STYLE="padding-bottom: 8pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt"><B><I>Independent Directors</I></B></FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-bottom: 8pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Marc D. Boroditsky</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">M</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Garry L. Capers</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">M&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">M</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-bottom: 8pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Sarika Garg</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">M</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">M&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-bottom: 8pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Jean K. Holley</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;M</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">C</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-bottom: 8pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Marianne Johnson</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">M</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-bottom: 8pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Michael McConnell</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">M</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">C</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-bottom: 8pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Alfred Nietzel, <I>Chair of our Board<SUP>(2)</SUP></I></FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-bottom: 8pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Marc Zenner</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">C</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6px">&nbsp;</TD>
    <TD STYLE="width: 18px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding-left: 8pt"><FONT STYLE="font-size: 10pt">On July 30, 2021, the Board disbanded the Finance and Strategy Committee.&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6px">&nbsp;</TD>
    <TD STYLE="width: 18px"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding-left: 8pt"><FONT STYLE="font-size: 10pt">Mr. Nietzel served as the Chair of the Audit Committee until July 30, 2021, when he was appointed Chair of our Board. The other members of the Audit Committee from June 9, 2021 to July 30, 2021 were Mr. Zenner, Ms. Holley, and Ms. Johnson.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18px; text-align: justify"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding-left: 8pt"><FONT STYLE="font-size: 10pt">Mr. John N. Fox was the Chair of the Management Development and Compensation Committee until July 30, 2021, when he was succeeded in that role by Mr. McConnell.&nbsp;&nbsp;Mr. Fox retired from the Board on August 4, 2021. The other members of the Management Development and Compensation Committee from June 9, 2021 to July 30, 2021 were Mr. Boroditsky and Mr. Fox. </FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18px; text-align: justify"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="padding-left: 8pt"><FONT STYLE="font-size: 10pt">In addition to Ms. Holley, who has continued to serve as Chair of the Corporate Governance and Nominating Committee, the other members of the Corporate Governance and Nominating Committee from June 9, 2021 to July 30, 2021 were Mr. Boroditsky, Mr. Capers, Mr. Fox and Ms. Garg. &nbsp;</FONT></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; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a006"></A>Director
Skills, Qualifications and Characteristics</B></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; text-align: justify; text-indent: 0.5in">We believe the following
skills, qualifications and characteristics are essential in comprising a board equipped to serve the best interests of our stockholders.
This table does not include Ms. Holley, who will not be standing for re-election at the Annual 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">The following matrix
illustrates the specific skills, qualifications and characteristics of our Board that the Corporate Governance and Nominating Committee
consider important to our long-term strategy. Further information on the qualifications and relevant experience of each of our
Board&rsquo;s Nominees is provided in the individual biographies contained in &ldquo;Proposal 1&mdash;Election of Directors.&rdquo;</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" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="width: 23%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Boroditsky</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Capers</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Garg </B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 5.65pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Johnson</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>McConnell </B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Nietzel</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Zenner</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; border-bottom: black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Technology/Software/SaaS Industry Experience</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&#10004;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Financial Technology Platforms/R&amp;D/ Innovation</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Operational/Change Management Experience</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Product Management/Strategy Experience</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Audit Committee Financial Expert</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Capital Allocation/M&amp;A Experience</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Financial Institutions/Target Market Executive Roles/Banking Industry Experience</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">International/Global Business Experience</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Outside Public Company Board Service</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; "><B>&#10004;</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD></TR>
</TABLE>


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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a007"></A>Board
Diversity and Inclusion</B></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; text-align: justify; text-indent: 0.5in">Our Board does not
have a formal policy with respect to director diversity. However, our Board believes that it is essential that members of our Board
represent diverse viewpoints, with a broad array of business experiences, professions, skills and backgrounds that, when considered
as a group, provide a sufficient mix of perspectives to allow our Board to best fulfill its responsibilities to the long-term interests
of our stockholders. The ongoing Board refreshment process described below has provided opportunities to enhance the diversity
of our Board.</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" ALIGN="CENTER" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: #4471C4">
    <TD COLSPAN="5" STYLE="border: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: White"><B>Board
    Diversity Matrix (As of April 11, 2022)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Total Number of Directors</FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>8</B></FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 31%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Female</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Male</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Non-Binary</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Did Not Disclose Gender</B></FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="5" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>Part I: Gender Identity</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Directors</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>3</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in">&mdash;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="5" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>Part II: Demographic Background</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">African American or Black</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Alaskan Native or Native American</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Asian</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Hispanic or Latinx</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Native Hawaiian or Pacific Islander</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">White</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>2</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>3</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Two or More Races or Ethnicities</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in">&mdash;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">LGBTQ+</FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Did Not Disclose Demographic Background</FONT></TD>
    <TD COLSPAN="4" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
</TABLE>


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


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<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"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a008"></A>Ongoing
Board Refreshment</B></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; text-align: justify; text-indent: 0.5in">Since 2019, our Board
has actively assessed itself against the Company&rsquo;s current and expected future needs by seeking the advice of outside experts
and large stockholders. This resulted in the addition of eight total new directors since 2019. In 2019, our Board added two new
directors, Marc D. Boroditsky and Marc Zenner, augmenting our Board&rsquo;s skills and experience primarily in the areas of SaaS
software, recurring revenue business models, capital allocation, mergers and acquisitions and financing.</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">In 2020, our Board
appointed three additional directors (Naureen Hassan, Marianne Johnson and Al Nietzel). These directors added skills and experience
in the financial services industry, financial technology platforms, innovation, R&amp;D, recurring revenue business models, the
software industry, capital allocation, executive oversight of operations and change management and financial expertise. This also
increased our gender diversity, bringing the total number of women on our Board at the time from one to three.</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">In 2021, due to a vacancy
created by the departure of Ms. Hassan for a role with the federal government, the Board appointed Garry L. Capers. Mr. Capers
was identified by the Corporate Governance and Nominating Committee in connection with a thorough search that began with 15 candidates.
Mr. Capers brings expertise, including leading cloud-based software businesses and developing strategies, managing go-to-market
approaches and leading client delivery and services.</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">Also in 2021, pursuant
to the Cooperation Agreement, Sarika Garg and Michael McConnell joined the Board. Ms. Garg brings significant software operational;
sales, technology and M&amp;A leadership, and Mr. McConnell, as a former chief executive officer, adds extensive public and private
international board experience and leadership insight from various technology and software-oriented companies. In connection with
the Cooperation Agreement, Messrs. Michael Cullinane and Matthew Moog retired from the Board on June 9, 2021, Mr. Fox retired from
the Board on August 4, 2021, and Ms. Holley is not standing for re-election at the Annual 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">Our Board is committed
to continuing this process as it balances the knowledge and experience of our longer-tenured directors, the benefits of the fresh
perspectives of new directors and the evolving needs of the Company and the input of our stockholders. The average tenure of our
directors is now less than two years.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a009"></A>Board
Independence</B></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; text-align: justify; text-indent: 0.5in">Our Board conducts
an annual review as to whether each of our directors meets the independence standards of the listing standards of Nasdaq. Our Board
has determined that each of the current directors and each of Messrs. Moog, Fox and Cullinane and Ms. Hassan (each of whom served
on our Board during a portion 2021) has no material relationship with OneSpan other than as a director and is independent within
the listing standards of Nasdaq. In making its independence determinations, our Board has broadly considered all relevant facts
and circumstances and has concluded that there are no transactions or relationships that would impair the independence of any of
the current directors or any former directors listed in the prior sentence. In conducting its evaluation of Ms. Johnson, our Board
considered her affiliation with Cox Automotive, Inc., which purchases certain of our eSignature and secure agreement automation
services, and in conducting its evaluations of Messrs. Boroditsky and Moog, our Board considered their respective affiliations
with Twilio Inc., from which the Company purchases certain SMS services, and Built In Chicago, with which the Company partners
to promote job openings. Our Board ultimately determined that the transactions considered were routine and normal and that no director
derived a material benefit from the transactions. Accordingly, none of these transactions was considered a material relationship
that impacted a director&rsquo;s independence. Finally, Mr. Scott M. Clements, our former President and Chief Executive Officer
and a member of our Board during a portion of 2021, was not deemed to be independent.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a010"></A>Board
Leadership Structure</B></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; text-indent: 0.5in; text-align: justify">The current leadership structure of the
Company provides for the separation of the roles of the CEO and the Chair of our Board. As of July 26, 2021, Mr. Nietzel serves
as our independent Chair of our Board. Until that time, Mr. John N Fox was the Chair of our Board and also an independent director.
Mr. Moynahan serves as our President and CEO and is not a director. At this time, in light of the Company&rsquo;s size and the
nature of our business, our Board believes that the separation of these roles serves the best interests of OneSpan and 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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a011"></A>Lead
Independent Director</B></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; text-indent: 0.5in; text-align: justify">In 2017, our Board adopted a lead independent
director policy. In the absence of an independent director holding the position of Chair, our Board will appoint a Lead Independent
Director. Given that the Chair of the Board, Mr. Nietzel, is independent, we do not currently have a Lead Independent Director.<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP></SUP></FONT></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; text-align: justify">Our independent directors regularly meet
alone in executive session. In addition, each of our three standing Board committees is comprised solely of independent directors.
Our Board regularly reviews the Company&rsquo;s leadership structure and reserves the right to alter the structure as it deems
appropriate.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a012"></A>Meetings
of Our Board and Executive Sessions</B></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; text-indent: 0.5in; text-align: justify">Our Board met nine times during 2021. Each
director who served on our Board in 2021 attended more than 97% of the meetings of our Board and the meetings held by all committees
on which they served, during their time of service, in 2021. As part of their duties, the directors are expected to attend the
annual meetings of stockholders. Each of the then-serving directors attended last&nbsp;year&rsquo;s annual meeting of 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-indent: 0.5in; text-align: justify">The independent members of our Board met
regularly in executive session with the Chair of our Board, or the applicable chair of a Board committee, presiding over these
executive sessions. For additional information about the number of meetings held by each Board committee in 2021, see &ldquo;Committees
of Our Board.&rdquo;</P>

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

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<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"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a013"></A>Committees
of Our Board</B></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; text-indent: 0.5in; text-align: justify">Our Board&rsquo;s committee structure currently
consists of three principal committees: the Audit Committee, the Corporate Governance and Nominating Committee and the Management
Development and Compensation Committee. In July of 2021, the Board determined to disband the Finance and Strategy Committee. Our
Board has adopted a written charter for each of its committees. A copy of each committee&rsquo;s charter is available on our website,
investors.onespan.com, in the governance section of our investor relations webpage. A brief description of the composition and
the primary responsibilities of our committees is set forth in the following sections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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; background-color: #AEAAAA">
    <TD COLSPAN="4" STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>AUDIT COMMITTEE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: black">
    <TD STYLE="padding-left: 5.4pt; width: 20%"><FONT STYLE="font-size: 10pt; color: white"><B>Members</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%"><FONT STYLE="font-size: 10pt; color: white"><B>Key&nbsp; </B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: white"><B>Duties and Responsibilities </B></FONT></TD>
    <TD STYLE="padding-right: 3pt; text-align: left; width: 10%"><FONT STYLE="font-size: 10pt; color: white"><B>Meetings in</B></FONT><BR> <FONT STYLE="font-size: 10pt; color: white"><B>2021: 12</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="5" STYLE="padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Marc Zenner<BR>
(Chair)&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sarika Garg&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Marianne Johnson&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Michael McConnell&nbsp;</P></TD>
    <TD STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and discussing with the Company&rsquo;s management and its registered public accounting firm
the Company&rsquo;s annual audited and quarterly financial statements</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Appointing, compensating, evaluating and, when appropriate, terminating the engagement of the Company&rsquo;s
registered public accounting firm</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Evaluating the independence of the Company&rsquo;s registered public accounting firm</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Inquiring of the Company&rsquo;s management and its registered public accounting firm about significant
risks or exposures and reviewing the steps management has taken to monitor and minimize any such risks, including the Company&rsquo;s
risk assessment and risk management policies</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and monitoring the Company&rsquo;s legal compliance</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing management&rsquo;s assessment of internal controls over financial reporting and the related reports
of the CEO and CFO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and pre-approving all related party transactions</FONT></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; text-align: justify">The Audit Committee of our Board must be
composed of three or more independent directors, as required by the listing standards of Nasdaq, who also meet the additional independence
standards required for audit committee members. The Audit Committee is responsible for overseeing the financial reporting process
on behalf of our Board. Our Board has determined that Mr. McConnell and Dr. Zenner qualify as audit committee financial experts
and has designated them as such. Each year, the Audit Committee recommends the selection of the independent registered public accounting
firm to our Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Audit Committee has authority to delegate
to subcommittees subject to applicable rules and regulations. In its sole discretion, the Audit Committee may retain, and will
be directly responsible for the oversight of, such independent counsel, other advisors or consultants as it deems necessary or
appropriate to discharge its duties and responsibilities.</P>

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



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<P STYLE="margin-top: 0; margin-bottom: 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: #AEAAAA">
    <TD COLSPAN="4" STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>CORPORATE GOVERNANCE AND NOMINATING COMMITTEE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: black">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Members</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%"><FONT STYLE="font-size: 10pt; color: white"><B>Key&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="color: White"><B>Duties and Responsibilities</B></FONT></TD>
    <TD STYLE="padding-right: 3pt; text-align: left; width: 10%"><FONT STYLE="font-size: 10pt; color: white"><B>Meetings in</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>2021: 5</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jean K. Holley (Chair)</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">Garry L. Capers</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">Sarika Garg&nbsp;</P></TD>
    <TD STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and evaluating the leadership structure of the Board</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and assessing the Company&rsquo;s Corporate Governance Guidelines and recommending changes to
the Board as deemed appropriate</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and recommending to the Board guidelines and procedures to be used by the Corporate Governance
and Nominating Committee in evaluating the Board&rsquo;s performance and the performance of the various committees of the Board</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing annually all committees of the Board and recommending changes in the number, function or membership
of any such committees as appropriate</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Identifying and recommending to the Board individuals to be nominated as a director, including the consideration
of director candidates nominated by stockholders and whether members of the Board should stand for re-election</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="background-color: white; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="background-color: white; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Establishing, reviewing and periodically updating the Company&rsquo;s Code of Conduct and Ethics</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="background-color: #D9D9D9; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;<FONT STYLE="font-size: 10pt"></FONT></FONT></TD>
    <TD COLSPAN="2" STYLE="background-color: #D9D9D9; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Annually reviewing and making recommendations regarding the Company&rsquo;s Corporate Social Responsibility
program</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Corporate Governance and Nominating
Committee of our Board must be composed of three or more independent directors, as required by the listing standards of Nasdaq.
The Committee has authority to delegate to subcommittees subject to applicable rules and regulations. In its sole discretion, the
Committee may retain, and will be directly responsible for the oversight of, such independent counsel, other advisors or consultants
as it deems necessary or appropriate to discharge its duties and responsibilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; 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; background-color: #AEAAAA">
    <TD COLSPAN="4" STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>MANAGEMENT DEVELOPMENT AND COMPENSATION COMMITTEE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: black">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; color: white"><B>Members</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; text-align: justify"><FONT STYLE="font-size: 10pt; color: white"><B>Key&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: white"><B>Duties and Responsibilities </B></FONT></TD>
    <TD STYLE="width: 10%; text-align: left"><FONT STYLE="font-size: 10pt; color: white"><B>Meetings in</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>2021: 6</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="6" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Michael McConnell. (Chair)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Marc D. Boroditsky</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Garry L. Capers</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Jean K. Holley</P></TD>
    <TD STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing, from time to time, the Company&rsquo;s compensation strategy to ensure that the Company&rsquo;s
compensation programs and plans allow the Management Development and Compensation Committee to structure the compensation of the Chief
Executive Officer and other executive officers in a manner consistent with the Company&rsquo;s goals and stockholders&rsquo; interests</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and approving annually the Company&rsquo;s goals and objectives relevant to the compensation
of the Chief Executive Officer and other executive officers, evaluating the Chief Executive Officer&rsquo;s and other executive officers&rsquo;
performance against those goals and objectives and setting the Chief Executive Officer&rsquo;s and other executive officers&rsquo; compensation
based on this evaluation</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and, as appropriate, discussing with the Chief Executive Officer and the other executive officers
the Company&rsquo;s compensation policies and practices for non-executive employees of the Company</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Exercising all rights, authority and functions of the Board under the Company&rsquo;s equity-based compensation
plans</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and periodically making recommendations to the Board with respect to non-employee director compensation
(including compensation for members of committees of the Board)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and providing oversight of the Company&rsquo;s management development, succession planning and
diversity and inclusion efforts</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing the Company&rsquo;s assessment as to any material risks of the Company that result from the Company&rsquo;s
compensation policies and practices (including how such policies and practices relate to risk management and risk-taking incentives)</FONT></TD></TR>
</TABLE>


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


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<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; text-align: justify">The Management Development and Compensation
Committee of our Board must be composed of three or more independent directors, as required by the listing standards of Nasdaq.
The members of the Management Development and Compensation Committee must also qualify as &ldquo;non-employee directors&rdquo;
within the meaning of Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the &ldquo;<B><I>Exchange Act</I></B>&rdquo;),
be &ldquo;outside directors&rdquo; within the meaning of Section 162(m) of the Internal Revenue Code of 1986 (the &ldquo;<B><I>Code</I></B>&rdquo;)
and satisfy any other necessary standards of independence under the federal securities and tax laws. The Management Development
and Compensation Committee has authority to delegate to subcommittees subject to applicable rules and regulations. In its sole
discretion, the Committee may retain, and will be directly responsible for the oversight of, such independent counsel, other advisors
or consultants as it deems necessary or appropriate to discharge its duties and responsibilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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; background-color: #AEAAAA">
    <TD COLSPAN="4">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FINANCE AND STRATEGY COMMITTEE</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"><B>(disbanded July 30, 2021)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: black">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Members</B></FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt; color: white"><B>Key&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: white"><B>Duties and Responsibilities </B></FONT></TD>
    <TD STYLE="padding-right: 3pt; width: 10%"><FONT STYLE="font-size: 10pt; color: white"><B>Meetings in</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>2021: 4</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Marc Zenner (Chair)</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">Garry L. Capers</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">Sarika Garg</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">Marianne Johnson</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">Michael McConnell</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">Alfred Nietzel&nbsp;</P></TD>
    <TD STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Providing recommendations impacting the financial structure and strategic direction of the Company (including
the Company&rsquo;s long-term capital plan, product pipeline, capital structure, research and development programs, and strategic initiatives)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing and monitoring current and long-range financial policies and business strategies</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing issuances of corporate equity, debt and other material financing arrangements</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Reviewing potential merger, acquisition and divestiture activities</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD COLSPAN="2" STYLE="background-color: #D0CECE; padding-left: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Assisting the Board with its oversight responsibility for enterprise risk management in areas affecting
the Company&rsquo;s technology, capital allocation and product strategy</FONT></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; text-align: justify">In 2020, our Board established the Finance
and Strategy Committee, to be composed of three or more independent directors. The Committee has authority to delegate to subcommittees
subject to applicable rules and regulations. In its sole discretion, the Committee may retain, and will be directly responsible
for the oversight of, such independent counsel, other advisors or consultants as it deems necessary or appropriate to discharge
its duties and responsibilities. On July 30, 2021, the Board disbanded the Finance and Strategy 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-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a014"></A>Director
Selection Process</B></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; text-indent: 0.5in; text-align: justify">The Corporate Governance and Nominating
Committee will consider director candidates who have relevant business experience, are accomplished in their respective fields
and possess the skills and expertise to make a significant contribution to our Board, the Company and our stockholders. Director
nominees should have executive-level leadership business experience, knowledge about issues affecting the Company and the ability
and willingness to apply sound and independent business judgment. As part of our Board&rsquo;s annual evaluation process, our Board
discusses and compiles a matrix of key areas of experience, skills and other qualifications relating to Board composition. Each
member of our Board evaluates himself or herself against the criteria, and the Board reviews and discusses the collective results
to perform a gap analysis for purposes of succession planning and evaluating the overall skills and experience needed in future
director candidates. All potential director candidates are evaluated in light of this gap analysis to identify the appropriate
candidates to proceed to the interview phase. Then, as part of the Corporate Governance and Nominating Committee&rsquo;s interview
process, the Committee ranks a candidate&rsquo;s relevant experience, on a scale from zero (no direct experience) to three (a qualified
authority on the topic) across 30 core competencies in the areas of strategy; business operations; sales, marketing and customer
success; technology and product; accounting and finance; investor relations and public relations; and board development/experience.</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; text-align: justify">The Corporate Governance and Nominating
Committee generally re-nominates incumbent directors who continue to satisfy the Corporate Governance and Nominating Committee&rsquo;s
criteria for membership on our Board, continue to make important contributions to our Board and consent to continue their service
on our Board. However, the Corporate Governance and Nominating Committee regularly considers the needs of the Company and our Board
with respect to directors and, if appropriate, the Committee will nominate new directors who best fit those needs. From time to
time, the Corporate Governance and Nominating Committee engages a search firm to assist in identifying potential Board candidates.</P>

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


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<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; text-align: justify">The Corporate Governance and Nominating
Committee will consider candidates for election to our Board who are recommended by stockholders, provided that a complete description
of the nominees&rsquo; qualifications, experience and background, together with a statement signed by each candidate in which he
or she consents to act as a director, if elected, accompany the recommendations. Such recommendations should be submitted in writing
to the attention of the Corporate Governance and Nominating Committee, c/o OneSpan&nbsp;Inc., 121 W. Wacker Drive., 20<SUP>th</SUP>
Floor, Chicago,&nbsp;Illinois 60601 and should not include self-nominations. The Corporate Governance and Nominating Committee
applies the same criteria described above to candidates recommended by stockholders. The Corporate Governance and Nominating Committee
did not receive any recommendations for director candidates for the Annual Meeting from any stockholder.</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; text-align: justify">Any stockholder may nominate candidates
for election as directors by following the procedures set forth in the OneSpan Inc. By-laws, as amended and restated on April 6,
2021 (our &ldquo;<B><I>By-laws</I></B>&rdquo;), including the applicable notice, information and consent provisions. For further
information regarding these procedures, see &ldquo;Other Matters&mdash;Director Nominations by Stockholders and Stockholder Proposals
of Other Business.&rdquo; A copy of our By-laws is available on our corporate website at investors.onespan.com in the governance
section of our investor relations webpage at www.investors.onespan.com.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a015"></A>Board
Evaluation Process</B></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; text-indent: 0.5in; text-align: justify">Our Board recognizes that a rigorous evaluation
process is an essential component of strong corporate governance practices and promoting ongoing Board effectiveness. Consistent
with best practice, our Corporate Governance Guidelines and each of the committees&rsquo; charters, the Corporate Governance and
Nominating Committee oversees the annual evaluation of the performance of our Board and the committees, with the independent Chair
maintaining a substantial role in facilitating discussion among our Board and the committees.</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; text-align: justify">As part of our Board evaluation process,
our Board reviews the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Performance of our Board, including areas where our Board feels it functions effectively and areas where our Board believes it can improve;</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Overall composition of our Board, including director tenure, Board leadership, diversity and individual skill sets;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">General Board best practices, including oversight responsibilities;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Culture to promote candid discussion within our Board and with senior management;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Focus on change management and strategic matters, including evaluation of transactions, emerging technologies and challenges created thereby, business transformation, regulatory and legal developments, market factors and risks facing the Company; and</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Ability to ensure the Company is positioned for future success and serves the best interests of our stockholders.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Additionally, our Board reviews matters
including its relationship with management, its meeting schedule and the structure, compensation, culture and roles and responsibilities
of our Board. The committees are evaluated on matters including their meeting schedule, membership composition, culture, relationship
with management and advisors and roles and responsibilities. Our Board and committee evaluation framework and process is conducted
and reviewed annually and provides valuable insight as our Board and Corporate Governance and Nominating Committee evaluate the
director selection process and succession planning, including the identification and optimization of current directors&rsquo; (or
potential directors&rsquo;) skills and experiences that would enable our Board to enhance its effectiveness.</P>

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


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<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; text-align: justify">In connection with its 2021 evaluation,
our Board conducted an assessment of whether our Board had an appropriate committee composition and appropriate delegation to fulfill
responsibilities efficiently, as well as an evaluation of our Board&rsquo;s interactions with and succession plans for the CEO
and senior executives across the organization. The 2021 evaluation process further informed our Board regarding succession planning
and Board and committee composition, including enhancement of director skills, experience and qualifications through director education
and Board and committee appointments to meet the current and anticipated needs of the business.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a016"></A>Our
Board&rsquo;s Role in Risk Oversight</B></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; text-indent: 0.5in; text-align: justify">Our Board is primarily responsible for overseeing
the assessment and management of the Company&rsquo;s risk exposure, including the balance between risk and opportunity and the
totality of risk exposure across the organization. Our Board does so directly and through each of its committees. Our Board and
each of its committees regularly discuss with management the Company&rsquo;s major risk exposures, their likelihood, the potential
financial impact such risks may have on the Company and the steps the Company takes to manage any such risks. The Audit Committee
oversees the Company&rsquo;s risks and exposures regarding financial reporting and legal compliance. The Management Development
and Compensation Committee oversees risks relating to our overall incentive compensation programs and succession planning, including
those for senior management. The Corporate Governance and Nominating Committee oversees risks related to compliance with our Corporate
Governance Guidelines and Code of Conduct and Ethics.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In addition, in the coming year, our Board,
led by the Corporate Governance and Nominating Committee in connection with its annual review of our Corporate Social Responsibility
(<I>&ldquo;CSR&rdquo;</I>) program, plans to look into our Company&rsquo;s environmental and social risks and their direct
impacts on the Company and its stakeholders. We plan on introducing an updated governance process for identifying and managing
these risks. Due to the size of the Company and the nature of our business, we have not yet incurred any significant impacts, expenditures
or obligations related to environmental compliance issues. We recognize parts of our business have an environment impact and
with the recommendations of the Corporate Governance and Nominating Committee we plan to develop a framework to measure and reduce
this impact. The Corporate Governance and Nominating Committee has received quarterly updates from management on the Company&rsquo;s
efforts in its CSR program.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In addition and as necessary or appropriate,
our Board and its committees may also retain outside legal, financial or other advisors. Our Board reviews the Company&rsquo;s
overall risk management program at least annually, including the corporate insurance program. Throughout the year, management updates
our Board and relevant committees about factors that affect areas of potential significant risk. In addition, our internal audit
director is involved with our enterprise risk management process along with our information security team and reports directly
to our Audit Committee on all matters, without other members of management present. We believe that this is an effective approach
for addressing the risks faced by OneSpan and that our Board&rsquo;s leadership structure also supports this approach by providing
additional independent risk oversight.</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"><B>Further Information on Information Security at OneSpan</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-indent: 0.5in; text-align: justify">Optimizing security efforts and resources
to properly protect OneSpan&rsquo;s information systems and information assets requires a structured approach to identify the various
assets needing to be protected, their relative importance to OneSpan and the risks faced by such assets. At least annually, we
identify the security measures already in place, assess their effectiveness to help measure the residual risk and prioritize any
changes that would be required to lower the risk to an acceptable level for OneSpan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><I>Governance</I>. OneSpan&rsquo;s Information
Security Risk Management Policy formalizes everyone&rsquo;s responsibility, from senior managers to individual users, in limiting
information security risks. The policy is approved by the Information Security Steering Committee, is reviewed on a yearly basis
to account for changes in OneSpan&rsquo;s risk environment and describes a formal process to identify, assess, and track key information
security risks. Whenever required, a risk treatment plan is implemented to bring risk levels below acceptable risk tolerance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">OneSpan&rsquo;s Information Security Steering
Committee is composed of key senior leaders who operate under a formal charter. Their role is to oversee the corporate information
security program and OneSpan&rsquo;s security posture. Their role also includes tracking progress over information security risks
and approving and tracking risk-reduction initiatives. This committee conducts regular meetings, at least quarterly, with OneSpan&rsquo;s
Chief Information Security Officer.</P>

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



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<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 also oversees
the progress of the information security program and the variation of information security risks through quarterly information
security briefings, at a minimum. The Audit Committee, comprised solely of independent directors, has the primary responsibility
for this oversight. Our Board also includes many individuals with information security experience, such as a chief product officer
at a software company, a former chief financial officer with information security oversight responsibilities, a former chief information
officer who was responsible for this area and an individual with former senior responsibilities in authentication and fraud prevention
solutions. Five of seven of our Board&rsquo;s nominees have information security information experience.</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"><I>Security Incidents</I>.
In the last four years, we have not experienced any material information security breaches.</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"><I>Insurance</I>. OneSpan
maintains a cybersecurity risk insurance policy and utilizes the services of an independent insurance advisor.</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"><I>Reviews and Certifications</I>.
For internal OneSpan information systems and information assets, we conduct regular internal reviews and employ continuous security
monitoring. In order to provide additional assurance, OneSpan has conducted periodic independent reviews of the key components
of its security program. These reviews are carried out by individuals independent of the area under review. Areas for review and
the schedule for such reviews is determined based on their criticality.</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">For customer-facing
products and services, in addition to internal reviews and testing, we undergo various external reviews and certifications. Some
of our products are certified under specific technical standards or industry guidelines, such as European banking regulations referred
to as PSD2. In addition, our cloud platforms for SaaS solutions are audited annually by external independent auditors. The auditors
review our platforms against the Service Organization Controls (SOC) 2 and ISO 27001, 27017 and 27018 standards. We receive annual
certifications under these audits.</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">In addition, we conduct
self-certification activities for those standards or regulations that are not covered by the external auditors, such as the General
Data Protection Regulation in Europe and Health Insurance Portability and Accountability Act regulations in the United States.</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"><I>Training</I>. In
order to reduce the likelihood and impact of security incidents, OneSpan has implemented a global security awareness training program
that includes mandatory security and privacy awareness training for all personnel at hire time and yearly thereafter. Additional
training is made available to personnel as required based on their role. This includes secure development training for developers,
in support of OneSpan&rsquo;s secure development lifecycle, as well as incident response training.</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">In response to the
various phishing attacks that often are at the root of many security breaches, and in addition to the various technical controls
that are in place, OneSpan has implemented recurring phishing campaigns that target its employees at a minimum on a weekly basis
to improve their ability to recognize and report phishing messages. Employees who respond inappropriately to internal phishing
campaigns receive additional remedial training.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a017"></A>Communications
with Directors</B></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; text-align: justify; text-indent: 0.5in">Stockholders may send
communications to our Board at the Company&rsquo;s address, 121 West Wacker Drive, 20<SUP>th</SUP> Floor, Chicago,&nbsp;IL 60601.
Any such communication addressed to a specific Board member and designated as &ldquo;Confidential&rdquo; will be delivered unopened
to the specific Board member. If a communication is addressed to our Board as a whole and designated as &ldquo;Confidential,&rdquo;
the communication will be delivered to the Chair of our Board. Any communication not designated as &ldquo;Confidential&rdquo; will
be reviewed by management and brought to the attention of our Board at its next regularly scheduled meeting.</P>

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a018"></A>PROPOSAL&nbsp;1</B></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; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ELECTION
OF DIRECTORS</B></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; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Introduction</B></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; text-align: justify; text-indent: 0.5in">With the exception
of Ms. Holley, who is not standing for re-election at the Annual Meeting, each other member of our Board is up for election at
the Annual Meeting and, if elected, will hold office for a one-year term expiring at the next annual meeting. Each director holds
office until his or her successor is duly elected and qualified or until his or her earlier death, resignation or removal. If a
director retires, resigns or is otherwise unable to serve before the end of his or her one-year term, our Board may appoint a director
to fill the remainder of such term, reduce the size of our Board or leave the position vacant.</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"><B>OUR BOARD UNANIMOUSLY
RECOMMENDS THAT YOU VOTE &ldquo;<U>FOR</U>&rdquo; OUR BOARD&rsquo;S NOMINEES.</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: center"><FONT STYLE="text-transform: uppercase"><B>Our
Board&rsquo;s Nominees and Their Qualifications</B></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; text-align: justify; text-indent: 0.5in">All seven of our Board&rsquo;s
Nominees have been nominated by our Board, at the recommendation of the Corporate Governance and Nominating Committee, for election
at the Annual Meeting to serve for a one-year term ending at our 2023 Annual Meeting and until their successors are duly elected
and qualified, or until their earlier death, resignation or removal. All of the Board&rsquo;s Nominees have consented to serving
as a nominee, being named in the Proxy Statement and serving as a director if elected. The Corporate Governance and Nominating
Committee and our Board believe that each of our Board&rsquo;s Nominees brings a strong and distinct set of perspectives, experiences
and skills to OneSpan. The Corporate Governance and Nominating Committee and our Board believe that if our Board is comprised of
these nominees, our Board will be effective and well-functioning and have an optimal balance of experience, leadership, competencies,
qualifications and skills in areas of importance to OneSpan 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">Our Board has affirmatively
determined that each of our Board&rsquo;s Nominees qualifies as an independent director under Nasdaq listing rules. Other than
the inclusion of Mr. McConnell and Ms. Garg as nominees pursuant to the Cooperation Agreement, none of our Board&rsquo;s Nominees
is being elected pursuant to any arrangement or understanding between any of the Board&rsquo;s Nominees and any other person or
persons. For further information on the process for director nominations and criteria for selection of Board nominees, see &ldquo;Information
Regarding Our Board of Directors&mdash;Director Selection Process&rdquo; beginning on page 24.</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"><B>OUR BOARD UNANIMOUSLY RECOMMENDS VOTING
&ldquo;<U>FOR</U>&rdquo; THE ELECTION OF EACH OF OUR BOARD&rsquo;S NOMINEES.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: black">
    <TD STYLE="width: 21%; padding-left: 5pt"><FONT STYLE="font-size: 10pt; color: white"><B>Name</B></FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt; color: white"><B>Age</B></FONT></TD>
    <TD STYLE="width: 13%"><FONT STYLE="font-size: 10pt; color: white"><B>Director</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Since</B></FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt; color: white"><B>Position(s) with OneSpan</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Marc D. Boroditsky</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">59</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">2019</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Garry L. Capers</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">45</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Sarika Garg</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">46</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Marianne Johnson</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">56</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Michael McConnell</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">56</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Alfred Nietzel</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">60</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chair of our Board</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Marc Zenner</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">59</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">2019</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
</TABLE>


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


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    <!-- Field: /Page -->


<P STYLE="margin-top: 0; margin-bottom: 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; background-color: black">
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B><I>Alfred Nietzel, Chair of Our Board</I></B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 51%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Retired Chief Financial Officer, CDK Global, Inc.</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"><B>Director Since</B>: 2020</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>Age</B>: 60</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>Independent</B>: Yes</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Outside Public Company Directorships</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Cerence Inc. (2019 &ndash; Present)</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B><I>Executive Experience:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-bottom: 8pt; text-align: justify"><FONT STYLE="font-size: 10pt">Mr. Nietzel has been a director since November 2020 and Chair of our Board since July 2021. Mr. Nietzel is a board member of Cerence Inc. (NASDAQ: CRNC), a global cloud software company that provides AI-powered assistants and innovations for connected and autonomous vehicles, where he also serves on the audit and nominating and governance committees.&nbsp;&nbsp;He also serves as a director at Baxter Credit Union, one of the largest credit unions in the United States. He has served in executive finance roles for 16 years including most recently as Chief Financial Officer of CDK Global, Inc. (NASDAQ: CDK), the largest global provider of integrated technology and digital marketing solutions for the automotive retail and vehicle manufacturing industry, from 2014 to 2017. Prior to that, he was with ADP (NASDAQ: ADP), the leading global provider of cloud-based human capital management technology and services, since 2001, and led the financial and administrative execution of the spin-off of ADP&rsquo;s Dealer Services Division to create CDK Global, Inc.&nbsp;&nbsp;Mr. Nietzel served as Chief Financial Officer for ADP&rsquo;s Dealer Services Division, Chief Financial Officer for the Employer Services Division and ADP&rsquo;s Corporate Controller, leading the financial and business integration processes for multiple large acquisitions and divestitures during his time at ADP.&nbsp;&nbsp;Prior to joining ADP, Mr. Nietzel served for 17 years with Proctor &amp; Gamble Inc. (NYSE: PG), a multinational consumer goods company, in numerous operational finance, sales/marketing and audit roles. Mr. Nietzel holds a B.S. in Accounting and Finance from Eastern Illinois University.&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B><I>Relevant Skills and Qualifications:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Technology / Software / SaaS Industry Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Operational / Change Management Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Capital Allocation / M&amp;A Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        International / Global Business Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Outside Public Company Board Service</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-indent: 0.5in; text-align: justify">Mr. Nietzel is a global finance executive
        who has over 20 years of demonstrated finance experience across consumer products and B2B services and has operated as a CFO of
        a public company of scale. He has recent experience as both a public, and privately held, company Board member. His earlier career
        experience at Procter &amp; Gamble included multiple expatriate assignments requiring long-term relocation to both Europe and Australia.&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P></TD></TR>
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<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="width: 23%; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B><I>Marc D. Boroditsky</I></B></FONT></TD>
    <TD STYLE="width: 23%">&nbsp;</TD>
    <TD STYLE="width: 54%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Chief Revenue Officer, Twilio Inc.</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"><B>Director Since</B>: 2019</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>Age</B>: 59</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>Independent</B>: Yes</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Standing Board Committees</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Management Development and Compensation</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Outside Public Company Directorships</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;None</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B><I>Executive Experience:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr.&nbsp;Boroditsky has been a director
        since June 2019. He is a member of the Management Development and Compensation Committee. He has served as the Chief Revenue Officer
        at Twilio Inc. (NYSE: TWLO), a cloud communications platform as a service company, since July 2020. Prior to that, he served as
        Twilio&rsquo;s Senior Vice President of Sales from May 2017 to July 2020 and as Vice President and General Manager of Authentication
        Solutions from February 2015 to May 2017. Before joining Twilio, Mr.&nbsp;Boroditsky was President and COO of Authy, a software
        authentication company, from September&nbsp;2014 until it was acquired by Twilio in February&nbsp;2015. Prior to Authy, Mr.&nbsp;Boroditsky
        was VP of Identity and Access Management at Oracle Corporation (NYSE: ORCL), a computer technology corporation. Mr.&nbsp;Boroditsky
        has more than 30&nbsp;years of experience with technology companies. He has founded and financed four software companies in electronic
        medical records, authentication and identity management. He successfully sold Authy to Twilio and Passlogix to Oracle Corporation.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B><I>Relevant Skills and Qualifications:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Technology / Software / SaaS Industry Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Financial Technology Platforms / R&amp;D / Innovation</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Operational / Change Management Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Product Management / Strategy Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Financial Institutions / Target Market Executive Roles / Banking Industry Experience</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">Mr. Boroditsky has an extensive security
        software, sales, finance, product management and operations background, having served in executive roles at numerous technology
        companies, both private and publicly traded. He provides the Board with unique insights into the Company&rsquo;s growth strategies,
        software solutions including SaaS, software company operations and our target markets.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
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    <TD STYLE="width: 23%; border-top: black 1pt solid; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B><I>Garry L. Capers</I></B></FONT></TD>
    <TD STYLE="width: 25%; border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 52%; border-top: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Division President, Cloud Solutions, Deluxe Corporation</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"><B>Director Since</B>: 2021</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>Age</B>: 45</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>Independent</B>: Yes</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Standing Board Committees</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Corporate Governance and Nominating
Committee</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Management Development and
Compensation Committee&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Outside Public Company Directorships</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;None</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B><I>Executive Experience:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Capers has been a director since April
        2021. He is a member of the Corporate Governance and Nominating Committee and Management Development and Compensation Committee.
        Mr. Capers joined Deluxe Corporation (NYSE: DLX), a financial services company, in September 2019, where he serves as Division
        President, Cloud Solutions and is a member of the executive leadership team. At Deluxe Corporation, Mr. Capers has full financial
        and operational responsibility for the Cloud Solutions portfolio, including marketing data and analytics, website design and hosting
        and SaaS-based applications primarily targeted at end markets in the financial services industry, providing business intelligence
        and reporting for small banks and business incorporation services for small businesses. From January 2017 to September 2019, Mr.
        Capers held multiple executive leadership roles at Automatic Data Processing, Inc. (NASDAQ: ADP), the leading global provider of
        cloud-based human capital management technology and services, including Senior Vice President, NA Comprehensive Outsourcing Services
        from January 2018 to September 2019 and Division Vice President, NAS Southeast Region from January 2018 to January 2018. From December
        2007 through January 2017, Mr. Capers held various roles at Equifax Inc. (NYSE: EFX), a credit agency, overseeing business-to-business
        marketing units that focused on marketing data services for corporations, small businesses and consumers, including serving as
        General Manager &ndash; Equifax Marketing Services from April 2016 to January 2017. While at Equifax Inc., Mr. Capers also led
        the formation of a new business unit within the fraud and identity management space. Prior to Equifax, Mr. Capers was a management
        consultant with Bain &amp; Company, departing as a manager with focus in the retail and financial services sectors. Mr. Capers
        holds a B.A. in Business Administration from Morehouse College and an MBA in Marketing from The Wharton School at the University
        of Pennsylvania.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B><I>Relevant Skills and Qualifications:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Technology / Software / SaaS Industry Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Operational / Change Management Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Product Management / Strategy Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Financial Institutions / Target Market Executive Roles / Banking Industry Experience</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">Mr. Capers brings a wealth of
strategic and operational experience in the markets the Company serves to the Board. With 15 years in the financial technology
field including years of experience in management consulting, he contributes to the continued development of OneSpan&rsquo;s growth
driven value creation strategy.&nbsp;&nbsp;</P></TD></TR>
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    <TD STYLE="width: 36%; border-top: black 1pt solid; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: White"><B><I>Sarika
    Garg</I></B></FONT></TD>
    <TD STYLE="width: 11%; border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 53%; border-top: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Co-founder and Chief Executive Officer at Cacheflow Inc</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"><B>Director Since</B>: 2021</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>Age</B>: 46</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>Independent</B>: Yes</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Standing Board Committees</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Audit Committee</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Corporate Governance and Nominating
Committee</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Outside Public Company Directorships</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;None</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-top: 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Executive Experience:</I></B></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; text-align: justify">Ms. Garg has been a director since June 2021. She is a member
        of the Audit and Corporate Governance and Nominating Committees. Ms. Garg serves as Co-founder and Chief Executive Officer at Cacheflow
        Inc., a B2B SaaS company. She was previously Chief Strategy Officer responsible for product and go-to-market at Tradeshift. Tradeshift
        is a cloud network and platform for supply chain payments, marketplaces, and apps. During her tenure from 2015 through 2020, she
        helped Tradeshift grow from a small 100-person startup to a valuation of approximately $2.7 billion by 2020. Before joining Tradeshift,
        Ms. Garg led product management for Ariba Network, following its acquisition by SAP SE. Ms. Garg started her career at SAP SE,
        a multinational software corporation, where she spent over 10 years. She has been recognized as one of the Top 50 Women Leaders
        in SaaS by The Software Report in both 2018 and 2019 and is a member of the Forbes Business Development Council.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;<B><I>Relevant Skills and Qualifications</I></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Technology / Software / SaaS Industry Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Financial Technology Platforms / R&amp;D / Innovation</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Product Management / Strategy Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Capital Allocation / M&amp;A Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        International / Global Business Experience</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Ms. Garg brings significant software operational, sales, technology and M&amp;A leadership experience to the Board. She has over 20 years of experience in building and taking to market enterprise solutions globally at SAP SE, Ariba Network and Tradeshift Inc., including strategic M&amp;A. Ms. Garg also possesses experience with both perpetual license and SaaS license solutions and organizational setup. In addition, she is an expert in SaaS operations, sales and architectures, particularly in the financial technology space.</FONT></TD></TR>
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<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="width: 23%; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B><I>Marianne Johnson</I></B></FONT></TD>
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 52%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Executive Vice President and Chief Product Officer, Cox Automotive,
        Inc.</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"><B>Director Since</B>: 2020</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>Age</B>: 56</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>Independent</B>: Yes</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Standing Board Committees</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Audit Committee</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Outside Public Company Directorships</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">None</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B><I>Executive Experience:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ms. Johnson has been a director since March
        2020. She is a member of the Audit Committee. She has been the Executive Vice President and Chief Product Officer at Cox Automotive,
        Inc. (&ldquo;<B><I>Cox</I></B>&rdquo;), one of the largest automotive services companies in the world providing cloud-based technology
        and other solutions for the automotive wholesale and retail marketplace, since June 2018. She leads Cox&rsquo;s product, engineering
        and data science teams, as well as the product innovation discipline to integrate and transform the company&rsquo;s comprehensive
        suite of software and services. In mid-2018, Ms. Johnson began the work of standardizing and improving product and engineering
        practices by modernizing both disciplines at Cox. She launched a unique product innovation framework, which transformed the speed
        and relevancy of products for Cox&rsquo;s customers. Before joining Cox Automotive, Ms. Johnson was at First Data Corporation (now
        Fiserv, Inc. (NASDAQ: FISV)), a global leader in payments and financial technology, where she was head of product innovation and
        technology for the network and security solutions line of business and senior vice president of enterprise commercialization from
        May 2015 to May 2018. She has been named one of the top Women Worth Watching&reg; by Profiles in Diversity Journal &reg; and Woman
        of the Year by The Technology Association of Georgia.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B><I>Relevant Skills and Qualifications:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Technology / Software / SaaS Industry Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Financial Technology Platforms / R&amp;D / Innovation</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Product Management / Strategy Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        International / Global Business Experience</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">Ms. Johnson has decades of experience in the financial technology
        field, having served in senior roles focusing on product innovation, operational excellence and growth. She also brings to our
        Board experience in product innovation, cloud-based software development, research and design, data science and executive management.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="width: 23%; border-top: black 1pt solid; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B><I>Michael McConnell</I></B></FONT></TD>
    <TD STYLE="width: 25%; border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 52%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Private Investor</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"><B>Director Since</B>: 2021</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>Age</B>: 56</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>Independent</B>: Yes</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Standing Board Committees</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Audit Committee</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Management Development and
Compensation Committee (Chair)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Outside Public Company Directorships</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Adacel Technologies Limited</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Vonage Holdings Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;SPS Commerce, Inc. (2018 &ndash;
2019)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Spark Networks SE (2014 &ndash;
2017)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Redflex Holdings Ltd. (2011
&ndash; 2014)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Guidance Software, Inc. (2016
&ndash; 2017)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-top: 8pt"><FONT STYLE="font-size: 10pt"><B><I>Executive Experience:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Mr. McConnell has been a director since June 2021. He is the chair of the Management Development and Compensation Committee and a member of the Audit Committee. Mr. McConnell currently serves on the board of Vonage Holdings Corp. (Nasdaq: VG), a cloud communications provider, where he has served since 2019. He also serves as Chairman of the Board of Adacel Technologies Limited (ASX: ADA), a developer of air traffic management systems and technology, and previously served as a member of its board of directors beginning in 2017. Mr. McConnell&rsquo;s prior board experience also includes serving on the board of SPS Commerce, Inc. (Nasdaq: SPSC), a provider of cloud-based supply chain management services, from 2018 through 2019, and Spark Networks SE (NYSE: LOV), a leader in affinity-based online subscription dating networks, from 2014 until the company was sold in 2017. He also served as Spark Network&rsquo;s interim executive chairman and chief executive officer during 2014, and he previously served as a non-executive director and as executive chairman of Redflex Holdings Ltd. (ASX: RDF), a provider of intelligent transport system solutions and services. Mr. McConnell also previously served on the board of Guidance Software, Inc. (Nasdaq: GUID), a global provider of forensic security solutions, from 2016 until the company was sold in 2017. He has also served on numerous other public and private company boards in the United States, Australia, New Zealand and Ireland. He is the former Managing Director of Shamrock Capital Advisors, a private investment company.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B><I>Relevant Skills and Qualifications:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Technology / Software / SaaS Industry Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Operational / Change Management Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Audit Committee Financial Expert</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Capital Allocation / M&amp;A Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        International / Global Business Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Outside Public Company Board Service</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">Mr. McConnell has extensive operating
and financial experience as an executive officer at various technology companies. He brings over two decades of investment, operational
and public board experience to OneSpan. Mr. McConnell&rsquo;s skills and experiences provide a valuable asset to the Board in
developing strategic alternatives to drive stockholder value.&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
</TABLE>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="width: 23%; border-top: black 1pt solid; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B><I>Marc Zenner</I></B></FONT></TD>
    <TD STYLE="width: 25%; border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 52%; border-top: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Chief Financial Officer of Persefoni</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"><B>Director Since</B>: 2019</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>Age</B>: 58</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>Independent</B>: Yes</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Standing Board Committees</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Audit Committee (Chair)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Outside Public Company Directorships</B>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Sentinel Energy Services Inc.
(2017 &ndash; 2020)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;Innerworkings, Inc. (2019
&ndash; 2020)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-top: 10pt"><FONT STYLE="font-size: 10pt"><B><I>Executive Experience:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dr. Zenner has been a director since June
        2019. He is the Chair of the Audit Committee. Since August 2021, Mr. Zenner serves as the Chief Financial Officer of Persefoni,
        a climate management and accounting platform. He also has served as an Executive in Residence at the University of Miami Herbert
        Business School since March 2021. He retired from investment banking in September 2017 after having spent 10 years at J.P. Morgan
        &amp; Co. (NYSE: JPM), a leading financial services firm, and over six years at Citigroup, Inc. (NYSE: C). At J.P. Morgan, Dr.
        Zenner was a Managing Director and Global Co-Head of Corporate Finance Advisory from 2007 to 2017. At Citigroup, he was a Managing
        Director and Global Head of the Financial Strategy Group from 2000 to 2007. Prior to his career in investment banking, Dr. Zenner
        had a distinguished career as a professor at the University of North Carolina Chapel Hill Business School where he was a professor
        and the finance area chair. Dr. Zenner received numerous awards for his teaching and is the author of a wealth of academic and
        practitioner articles. Dr. Zenner previously served on the board of directors of Sentinel Energy Services Inc. (NASDAQ: STNL),
        a special purpose acquisition company that focuses on the oil field services sector, where he was the chairman of the Audit Committee
        and a member of the Nominating and Corporate Governance Committee, as well as on the board of Innerworkings, Inc. (former NASDAQ:
        INWK), a marketing execution company that was acquired in the summer of 2020, where he was a member of the Audit Committee. In
        addition, Dr. Zenner is a senior advisor for three enterprise and smart data technology startups (Radar, Persefoni and verseAI)
        and serves as a valuation, corporate finance and investment banking expert. Additionally, Dr. Zenner is a Chartered Financial Analyst.
        Dr. Zenner is originally from Belgium where he received an undergraduate degree in business engineering from K.U. Leuven. He then
        received an MBA from City University in London, U.K. and a Ph.D. in Financial Economics from Purdue University, where he was a
        Fulbright Scholar.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B><I>Relevant Skills and Qualifications:</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Technology / Software / SaaS Industry Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Audit Committee Financial Expert</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Capital Allocation / M&amp;A Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Financial Institutions / Target Market Executive Roles / Banking Industry Experience</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: green"><B>&#10004;</B></FONT><B>
        Outside Public Company Board Service</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">Dr. Zenner has extensive finance, investment
        banking, capital markets, mergers and acquisitions and capital allocation experience, having advised many global corporations on
        these issues. He provides our Board with deep insights into the Company&rsquo;s capital structure, business configuration, capital
        allocation and mergers and acquisitions strategy. He is also an experienced director at public and private companies.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Additional Information</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">While our Board does
not contemplate that any of our Board&rsquo;s Nominees will not be able to serve as directors, if unforeseen circumstances (for
example, death or disability) make it necessary for our Board to substitute another person for any of our Board&rsquo;s Nominees,
the persons listed in the enclosed proxy will vote your proxy, if properly executed and returned and unrevoked, for such other
person or persons, or our Board may, in its discretion, reduce the number of directors to be elected.</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"><B>Vote Required</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">Directors will be elected
by a majority of votes cast, meaning that the number of votes cast &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B><U>for</U></B></FONT>&rdquo;
a director&rsquo;s election exceeds the number of votes cast &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B><U>against</U></B></FONT>&rdquo;
that director&rsquo;s election (with &ldquo;abstentions&rdquo; and &ldquo;broker non-votes&rdquo; not counted as a vote cast either
&ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B><U>for</U></B></FONT>&rdquo; or &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B><U>against</U></B></FONT>&rdquo;
that director&rsquo;s election).</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; background-color: #AEAAAA">
    <TD STYLE="width: 100%; border: black 1pt solid; padding-top: 10pt; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our Board unanimously recommends voting &ldquo;<U>FOR</U>&rdquo;
        the election of each of our Board&rsquo;s Nominees.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>


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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a019"></A>PROPOSAL&nbsp;2</B></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; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ADVISORY
VOTE ON EXECUTIVE COMPENSATION</B></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; text-align: center"><FONT STYLE="text-transform: uppercase"><B>What
You Are Being Asked to Approve</B></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; text-indent: 0.5in; text-align: justify">We hold advisory (non-binding) votes on
the compensation of our NEOs, which are commonly referred to as &ldquo;say-on-pay&rdquo; votes, at every annual meeting of stockholders.
Our Board values the opinions of our stockholders and believes an annual advisory (non-binding) vote allows our stockholders to
provide us with their input on our executive compensation program. We conducted an advisory vote on the frequency of the say-on-pay
vote at our 2020 annual meeting of stockholders. Following the recommendation of our stockholders, we will continue to hold our
say-on-pay vote on an annual basis. We received strong approval of our say-on-pay vote at our 2021 annual meeting of stockholders,
with 86% of our stockholders who voted at the meeting voting for the approval of our compensation framework for our NEOs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Pursuant to Section 14A(a)(1) of the Exchange
Act, we are asking you to approve, on an advisory (non-binding) basis, our NEO compensation for 2021, as disclosed in the &ldquo;Compensation
Discussion and Analysis&rdquo; section beginning on page 45 and the accompanying compensation tables and related narrative discussion.
This vote is not intended to address any specific item of compensation, but rather the overall compensation of our NEOs and the
compensation philosophy, policies and practices described in this Proxy Statement. The next stockholder advisory vote to approve
executive compensation will be held at our 2023 Annual Meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Our
Compensation ProgramS</B></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; text-indent: 0.5in; text-align: justify">We believe that our NEO compensation programs
described throughout the &ldquo;Compensation Discussion and Analysis&rdquo; section on page 45 of this Proxy Statement are aligned
with our strategic objectives and address evolving concerns in the very competitive technology industry. Most importantly, we believe
that our executive compensation programs appropriately link pay to performance and are well aligned with the long-term interests
of 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: center"><FONT STYLE="text-transform: uppercase"><B>Resolution
for Advisory Vote to Approve Executive Compensation</B></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; text-indent: 0.5in; text-align: justify">Our Board and its committees value the opinions
of our stockholders and will carefully consider the voting results when evaluating our executive compensation programs. However,
because this vote is advisory, it is not binding on our Board or its committees. Our Board recommends that our stockholders vote
&ldquo;<B><U>FOR</U></B>&rdquo; the following non-binding resolution at the Annual Meeting:</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 0.5in; text-align: justify">RESOLVED, that the compensation of the named executive officers
of OneSpan Inc., as disclosed in the proxy statement for the 2022 annual meeting of stockholders pursuant to Item 402 of Regulation
S-K (which includes the Compensation Discussion and Analysis, the compensation tables and related narrative discussion), is hereby
APPROVED on an advisory basis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Vote
Required</B></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; text-align: justify">The affirmative vote of a majority of votes cast is required
to approve this proposal. Abstentions have no effect on the outcome of this proposal. Broker discretionary voting is not permitted,
and broker non-votes have no effect on the outcome of this proposal.</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: #AEAAAA">
    <TD STYLE="width: 100%; border: black 1pt solid; padding-top: 10pt; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our Board unanimously recommends voting &ldquo;<U>FOR</U>&rdquo;
        the approval, on an advisory (non-binding basis) of our NEO Compensation.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>


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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a020"></A>PROPOSAL&nbsp;3</B></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; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ADVISORY
VOTE ON RATIFICATION OF INDEPENDENT<BR>
REGISTERED PUBLIC ACCOUNTING FIRM</B></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; text-indent: 0.5in; text-align: justify">The Audit Committee of our Board has appointed
KPMG as the independent registered public accounting firm for the fiscal year ending December&nbsp;31, 2022. Stockholder ratification
of the appointment of KPMG is not required by our By-laws or other applicable legal requirements. However, our Board considers
it desirable for stockholders to pass upon the selection of auditors as a matter of good corporate practice. We are submitting
this proposal to our stockholders on an advisory (non-binding) basis, and the outcome of the vote will not be binding on the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">If our stockholders fail to ratify the appointment,
the Audit Committee will reconsider this appointment. Even if the appointment is ratified, the Audit Committee, in its discretion,
may direct the appointment of a different independent registered public accounting firm at any time during the year if the Audit
Committee determines that such a change would be in the best interests of the Company and its stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">KPMG&nbsp;served as our independent registered
public accounting firm for the fiscal year ended December&nbsp;31, 2021 and has acted as independent registered public accounting
firm for the Company since 1996. Representatives of KPMG are expected to be present at the Annual Meeting, and such representatives
will have an opportunity to make a statement, if they desire to do so, and are expected to be available to respond to appropriate
questions.</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: center"><FONT STYLE="text-transform: uppercase"><B>Vote
Required</B></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; text-indent: 0.5in; text-align: justify">The affirmative vote of a majority of votes
cast is required to approve the proposal. Abstentions have no effect on the outcome of this proposal. Broker discretionary voting
is permitted and your broker, bank or other nominee will be able to vote your shares with respect to this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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; background-color: #AEAAAA">
    <TD STYLE="width: 100%; border: black 1pt solid; padding-top: 10pt; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our Board and the Audit Committee unanimously recommend voting
        &ldquo;<U>FOR</U>&rdquo; the ratification, on an advisory (non-binding) basis, of the appointment of KPMG LLP as our independent
        registered public accounting firm for fiscal year 2022.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>


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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a021"></A>SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL<BR>
OWNERS, DIRECTORS AND MANAGEMENT</B></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; text-indent: 0.5in; text-align: justify">The table below sets forth certain information
with respect to the beneficial ownership of our Common Stock, as of April 11, 2022, unless otherwise indicated, for (i)&nbsp;each
person or entity known by us to beneficially own more than 5% of the outstanding shares of our Common Stock, (ii) each of our directors
and our Board&rsquo;s Nominees, (iii)&nbsp;each of our NEOs and (iv)&nbsp;all of our current directors and executive officers as
a group. Unless otherwise indicated below, and subject to applicable community property laws, we believe based on the information
provided to us that each beneficial owner has sole voting and investment power with respect to all shares of our Common Stock listed
below. Unless otherwise indicated, the address of each beneficial owner in the table below is c/o OneSpan Inc., 121 West Wacker
Drive, 20th Floor, Chicago, Illinois 60601.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></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 STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Amount and Nature of </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Beneficial</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Name and Address of Beneficial&nbsp;Owner</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Ownership&nbsp;(1)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Percent of Class</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>5% Stockholders</U></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt">BlackRock,&nbsp;Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -9pt">55 East 52nd Street,
New York, NY 10055&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,742,480</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">(2)&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">14.2</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">%&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt">T.&nbsp;Kendall Hunt</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -9pt">110 N. Wacker Drive,
Mail Code: IL 4-110-17-00, Chicago, IL 60606&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,953,168</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">(3)&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">10.</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt">The Vanguard Group</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -9pt">100 Vanguard Boulevard.
Malvern, PA 19355&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,379,725</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">(4)&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5.9</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt">Legion Partners Asset Management,
        LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -9pt">12121 Wilshire Boulevard, Suite 1240, Los Angeles,
CA 90025&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,168,979</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">(5)&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5.3</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt">Legal &amp; General Investment Management
        Limited</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -9pt">One Coleman Street, London,
EC2R 5AA, UK&nbsp;</P></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,306,411</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5.7</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Directors and Our Board&rsquo;s Nominees</U></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Marc D. Boroditsky</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">20,718</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Garry Capers</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,539</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Sarika Garg</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8,275</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Jean K. Holley</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">126,856</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Marianne Johnson</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">13,059</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Michael McConnell</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">20,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Alfred Nietzel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">15,833</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Marc Zenner</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">30,218</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Named Executive Officers</U></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Matthew Moynahan</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Jan Kees van Gaalen</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Steven R. Worth</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">55,083</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Scott M. Clements</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">92,654</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Mark S. Hoyt</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">31,174</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">John Bosshart</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">3,104</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: white">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">All Executive Officers and Directors as a group (11 persons)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">293,581</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"></FONT></TD></TR>
<TR>
    <TD STYLE="width: 60%; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32px"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Ownership is less than 1% of the outstanding shares of our Common Stock.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32px; text-align: justify"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Beneficial ownership
    is determined in accordance with the rules of the SEC. In computing the number of shares beneficially owned by a person and
    the percentage ownership of that person, shares of Common Stock subject to options held by such person that are currently
    exercisable or will become exercisable within 60 days after April 11, 2022, if any, or RSUs held by such person that vest
    within 60 days of April 11, 2022, if any, are deemed to be beneficially owned and outstanding for purposes of calculating
    such person&rsquo;s beneficial ownership but are not deemed outstanding for purposes of computing the percentage ownership
    of any other person. None of the members of our Board or our NEOs own any options exercisable within 60 days after April 11,
    2022 or any RSUs that vest within 60 days after April 11, 2022, except for Ms. Garg and Mr. McConnell who each have 2,408
    RSUs vesting on June 9, 2022. As of April 11, 2022, there were 40,630,593 shares of Common Stock outstanding.</FONT></TD></TR>
</TABLE>


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


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32px; text-align: justify"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Based solely on information contained in a Schedule&nbsp;13G/A filed on January&nbsp;27, 2022 by BlackRock, Inc. (&ldquo;<B><I>BlackRock</I></B>&rdquo;), providing information with respect to its beneficial ownership as of December 31, 2021. BlackRock reported it had sole voting power as to 5,697,518 shares, shared voting power over no shares, sole dispositive power as to 5,742,480 shares and shared dispositive power over no shares.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32px; text-align: justify"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: justify"><FONT STYLE="font-size: 10pt">Includes 730,413&nbsp;shares held in the Barbara&nbsp;J. Hunt Marital Trust. Also includes 161,255&nbsp;shares held by Mr. Hunt&rsquo;s spouse as to which Mr.&nbsp;Hunt disclaims beneficial ownership.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32px; text-align: justify"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Based solely on a Schedule 13G/A filed on February 10, 2022 by The
Vanguard Group (&ldquo;<b><i>Vanguard</i></b>"), providing information with respect to its beneficial ownership as of December 31, 2021. Vanguard
reported that it had sole voting power as to no shares, shared voting power as to 64,975 shares, sole dispositive power as to 2,290,516
shares and shared dispositive power as to 89,209 shares.</font></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32px; text-align: justify"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Based solely on a Schedule&nbsp;13D/A filed on June 1, 2021 by Legion Partners, L.P. I (&ldquo;<B><I>Legion</I></B>&rdquo;), providing information with respect to its beneficial ownership as of that date. Legion reported that it had sole voting power as to no shares, shared voting power as to 2,168,979 shares, sole dispositive power as to 0 shares and shared dispositive power as to 2,168,979 shares.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32px; text-align: justify"><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Based solely on a Schedule&nbsp;13G filed on February&nbsp;14, 2022, by Legal &amp; General Investment Management Limited (&ldquo;<B><I>Legal &amp; General</I></B>&rdquo;), providing information with respect to its beneficial ownership as of December 31, 2021. Legal &amp; General is a discretionary investment manager authorized and regulated by the UK financial conduct authority. GO UCITS ETF Solutions Plc (the &ldquo;<B><I>GO Company</I></B>&rdquo;) is organized as an open-ended investment company with variable capital structured as an umbrella fund and comprised of separate sub-funds. GO ETF Solutions LLP has been appointed as the investment manager for each of such finds. Each of Legal &amp; General and GO Company reported that it had shared voting power as to 2,306,411 shares, shared dispositive power as to no shares and sole voting power as to no shares. GO Company reported that it had sole dispositive power as to no shares, and Legal &amp; General closed that it had sole dispositive power over 2,306,411 shares. The address of the principal office of Legal &amp; General is One Coleman Street, London, EC2R 5AA, UK, and the address of the principal office of GO Company is 2 Grand Canal Square, Dublin 2, Ireland.</FONT></TD></TR>
</TABLE>


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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a022"></A>DELINQUENT
SECTION 16(a) REPORTS</B></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; text-indent: 0.5in; text-align: justify">Section&nbsp;16(a) of the Exchange Act requires
directors and executive officers, and persons who beneficially own more than 10% of a registered class of our equity securities,
to file reports of ownership and changes in ownership with the SEC. Directors, executive officers and beneficial owners of more
than 10% of the outstanding shares of our Common Stock are required by SEC regulations to furnish us with copies of all Section&nbsp;16(a)
forms that they file. Based solely on review of the copies of such forms or written representations that no reports under Section&nbsp;16(a)
were required, we believe that, for the year ended December&nbsp;31, 2021, all of the Company&rsquo;s directors, executive officers
and greater than 10% beneficial owners complied with Section&nbsp;16(a) filing requirements applicable to them, except for the
following: (i) each of Messrs. Boroditsky, Cullinane, Moog and Zenner and Ms. Holley had one report related to the annual vesting
of deferred RSUs (as defined below) on January 15, 2021 that was inadvertently filed late on April 2, 2021; (ii) each of Messrs.
Clements and Hoyt had one report related to the semi-annual vesting of RSUs on January 4, 2021 that was inadvertently filed late
on January 19, 2021; (iii) Mr. Hunt had one report related to the sale of securities on March 26, 2021 that was inadvertently filed
late on April 9, 2021, and three transactions related to the charitable donations of securities on September 7, 2021, October 1,
2021 and December 29, 2021 that were inadvertently filed late in a Form 5 for the year ended December 31, 2021 on February 22,
2022; (iv) Mr. Bosshart had two reports related to share sales on June 9, 2021 and December 1, 2021 that were inadvertently filed
late on September 1, 2021 and December 7, 2021, respectively; (v) Mr. Capers had one report related to an RSU grant on January
5, 2022 and the vesting of RSUs on April 6, 2022 that was inadvertently filed late on April 11, 2022 and (vi) the following individuals
disclosed initial equity grants upon appointment on Form 3 rather than Form 4: during 2021: Mr. Worth had one Form 3 filed with
respect to equity grant disclosures on March 2, 2021; Mr. Capers had two Form 3s filed with respect to equity grant disclosures
on April 12, 2021 and August 11, 2021, respectively; each of Messrs. McConnell and Garg had two Form 3s filed with respect to equity
grant disclosures on June 22, 2021 and August 11, 2021, respectively; Mr. Bosshart had one Form 3 filed with respect to equity
grant disclosures on August 11, 2021; and Mr. Moynahan had one Form 3 filed with respect to equity grant disclosures on December
13, 2021. All late filings were the result of administrative errors.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a023"></A>Equity
Compensation Plan Information</B></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; text-indent: 0.5in; text-align: justify">The following table sets forth information
regarding shares of our Common Stock that may be issued under our equity compensation plans as of December 31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></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 STYLE="width: 61%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>(c)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Number&nbsp;of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>securities</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(a)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(b)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>remaining</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Number&nbsp;of</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Weighted</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>available&nbsp;for&nbsp;future</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>securities to be</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>average&nbsp;exercise</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>issuance&nbsp;under</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>issued&nbsp;upon</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>price&nbsp;of</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>equity</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>exercise&nbsp;of</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>outstanding</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>compensation</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>outstanding</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>options,</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>plans&nbsp;(excluding</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>options,&nbsp;warrants</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>warrants</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>securities&nbsp;reflected</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Plan Category</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>and&nbsp;rights</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>and&nbsp;rights <SUP>(1)</SUP></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>in&nbsp;column&nbsp;(a))&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Equity compensation plans approved by security holders <SUP>(2)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">&nbsp;964,069<SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">&nbsp;&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">3,553,630</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Equity compensation plans not approved by security holders</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">not applicable</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">not applicable</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">not applicable</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Total</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">964,069</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">&nbsp;&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">&nbsp;3,553,630</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: justify">&nbsp;</td></tr>
<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">RSUs and PSUs do not have an exercise price, and the Company does not have any outstanding options.</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<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">The Company has one active incentive plan that has been approved by our stockholders, the OneSpan Inc. 2019 Omnibus Incentive Plan (the &ldquo;<B><I>2019 Omnibus Incentive Plan</I></B>&rdquo;). As of December 31, 2021, we also had outstanding equity awards that may be settled for shares of our Common Stock under another plan approved by our stockholders, the VASCO Data Security International, Inc. 2009 Equity Incentive Plan. Pursuant to the 2019 Omnibus Incentive Plan, shares of our Common Stock that are subject to outstanding awards under the 2009 Plan that subsequently are cancelled, forfeited, lapsed or are otherwise terminated or settled without a distribution of shares become available for awards under the 2019 Omnibus Incentive Plan.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<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">Comprised of 560,122 shares of our Common Stock subject to outstanding RSU awards and 403,947 shares of our Common Stock subject to outstanding PSU awards. The number of shares of our Common Stock subject to outstanding PSU awards reflects the target amount awarded for awards outstanding as of December 31, 2021.</FONT></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; text-align: center"></P>

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<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"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a024"></A>REPORT
OF THE AUDIT COMMITTEE</B></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; text-indent: 0.5in; text-align: justify">Management is responsible for the Company&rsquo;s
financial statements and the financial reporting process, including internal controls. The independent registered public accounting
firm is responsible for performing an independent audit of the Company&rsquo;s consolidated financial statements in accordance
with auditing standards of the Public Company Accounting Oversight Board (United States) (the &ldquo;<B><I>PCAOB</I></B>&rdquo;)
and the applicable requirements of the Securities and Exchange Commission (the &ldquo;<B><I>SEC</I></B>&rdquo;) and for issuing
a report thereon. The Audit Committee&rsquo;s responsibility is to monitor and oversee these processes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In this context, the Audit Committee held
discussions with management and KPMG LLP. Management represented to the Audit Committee that the Company&rsquo;s consolidated financial
statements were prepared in accordance with generally accepted accounting principles, and the Audit Committee reviewed and discussed
the consolidated financial statements with management and KPMG LLP. The Audit Committee discussed with KPMG&nbsp;LLP the matters
required to be discussed by the applicable requirements of the PCAOB and the SEC. These matters included a discussion of KPMG LLP&rsquo;s
judgments about the quality (not just the acceptability) of the Company&rsquo;s accounting principles as applied to financial reporting
and their evaluation of the Company&rsquo;s internal control over financial reporting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Audit Committee also received the written
disclosures and the letter from KPMG&nbsp;LLP required by applicable requirements of the PCAOB regarding KPMG LLP&rsquo;s communications
with the Audit Committee concerning independence and has discussed with KPMG LLP its independence. The Audit Committee further
considered whether the provision by KPMG LLP of the non-audit services described below is compatible with maintaining the independent
registered public accounting firm&rsquo;s independence.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Based upon the Audit Committee&rsquo;s discussion
with management and KPMG LLP and the Audit Committee&rsquo;s review of the representation of management and the disclosures by
KPMG LLP to the Audit Committee, the Audit Committee recommended to the Company&rsquo;s Board of Directors that the Company&rsquo;s
audited consolidated financial statements be included in the Company&rsquo;s Annual Report on Form&nbsp;10-K for the year ended
December&nbsp;31, 2021, for filing with the SEC.</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">Respectfully submitted,</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">Marc Zenner (Chair)</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">Sarika Garg</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">Marianne Johnson</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">Michael McConnell</P>

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




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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a025"></A>FEES
PAID TO INDEPENDENT REGISTERED PUBLIC ACCOUNTING<BR>
FIRM FOR 2021 AND 2020</B></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; text-indent: 0.5in; text-align: justify">The Audit Committee has implemented policies
and procedures for the pre-approval of all audit, audit-related, tax and permitted non-audit services rendered by KPMG, our independent
registered public accounting firm. It is currently the policy of the Audit Committee to pre-approve all audit services rendered
by KPMG, and the Chair of the Audit Committee has been delegated the authority to pre-approve permissible non-audit services rendered
by KPMG. Those policies and procedures include a review of the independent registered public accounting firm&rsquo;s audit plan
and fee schedule for the period under review. If such audit plan and fee schedule are approved by the Audit Committee, the independent
registered public accounting firm provides an engagement letter in advance of the start of the audit work to the Audit Committee
outlining the scope of the audit and related audit fees. Our senior management also recommends, from time to time, to the Audit
Committee that it approve non-audit services that would be provided by the independent registered public accounting firm. Our senior
management and the independent registered public accounting firm then each confirm to the Audit Committee that each non-audit service
is permissible under all applicable legal requirements. A budget, estimating the cost of the non-audit services, is provided to
the Audit Committee along with the request. The Audit Committee must approve both permissible non-audit services and the budget
for such services. The Audit Committee is informed routinely as to the non-audit services actually provided by the independent
registered public accounting firm pursuant to this pre-approval process. The Audit Committee has also delegated to its Chair the
authority to pre-approve KPMG permissible non-audit services, with the Chair of the Audit Committee and KPMG required to summarize
any such approvals at the subsequent Audit Committee meeting.</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; text-align: justify">The following sets forth the amount of fees
paid to our independent registered public accounting firm, KPMG, for services rendered in 2021 and 2020:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: bottom; background-color: black">
    <TD STYLE="padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>2021</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>2020</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; width: 74%; padding-left: 3pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Audit Fees</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; text-align: right"><FONT STYLE="font-size: 10pt">1,830,305</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; width: 13%; text-align: right"><FONT STYLE="font-size: 10pt">2,349,590</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 3pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Tax Fees</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">23,277</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-left: 3pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Audit-Related Fees</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">90,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">66,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; padding-left: 3pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>All Other Fees</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&mdash; &nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&mdash; &nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: #D0CECE; padding-left: 3pt"><FONT STYLE="font-size: 10pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">1,920,305</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">2,438,867</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</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; text-align: justify"><B>Audit Fees</B>. For 2021 and 2020, audit
fees consisted of fees billed for the audit of the Company&rsquo;s annual consolidated financial statements, the reviews of the
consolidated financial statements included in the Company&rsquo;s quarterly reports on Form 10-Q and services normally provided
by the independent registered public accounting firm in connection with statutory and regulatory filings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><B>Tax Fees</B>. For 2020, tax fees consist
of fees for permissible foreign subsidiary tax compliance services and permissible tax consulting services in the U.S.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;<B>Audit-Related Fees</B>. For 2021
and 2020, other fees billed by KPMG were fees associated with the performance of permissible attestation services.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Audit Committee, including through authority
delegated to the Chair, has pre-approved all of the above fees for both 2021 and 2020.</P>

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





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a026"></A>INFORMATION
ABOUT OUR EXECUTIVE OFFICERS</B></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; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Executive
Officers</B></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; text-align: justify">Executive officers are elected annually by our Board, to hold
office until their successors are elected and qualified or until their earlier resignation or removal.</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; background-color: black">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; color: white"><B><I>Matthew
    Moynahan</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><I>President and Chief Executive Officer </I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Mr. Moynahan has served as OneSpan&rsquo;s President and Chief Executive Officer since November 2021. He most recently served as the Chief Executive Officer of Forcepoint LLC, a global provider of commercial and government cybersecurity solutions and a subsidiary of Raytheon Technologies Corporation, from May 2016 until its acquisition by Francisco Partners in January 2021. Prior to that, Mr. Moynahan served as President of Arbor Networks, a network security and monitoring software company and a subsidiary of Danaher Corporation (NYSE: DHR), from January 2012 through May 2016, where he was responsible for building a large commercial cloud DDoS platform and network-based advanced threat protection systems, and as President and Chief Executive Officer of Veracode, Inc., a SaaS pioneer of cloud-based software security testing platforms, from April 2006 through May 2011. He also served as Vice President of Symantec&rsquo;s enterprise product management group, as well as Vice President and General Manager of its consumer division. Mr. Moynahan holds a Bachelor of Arts in History and Economics from Williams College and a Master of Business Administration from the Harvard Business School. Mr. Moynahan is 50 years old.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; color: white"><B><I>Jan Kees van Gaalen</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><I>Interim Chief Financial Officer and Treasurer</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Mr. van Gaalen has served as OneSpan&rsquo;s Interim Chief Financial Officer since October 2021. From December 2019 through October 2021, prior to joining OneSpan, he was a consultant to technology companies involved in SaaS, Big Data, AI, IT consulting and outsourced services. Prior to this, he served in chief financial officer roles at C&amp;J Energy Services Inc., an oil and gas field exploration services company, from September 2018 through December 2019, at Kennametal Inc. (NYSE: KMT), an American supplier of tooling and industrial materials, from September 2015 to September 2018, and at Dresser-Rand Group Inc., an American engineering and manufacturing company owned by Siemens Energy AG (OTCMKTS: SMNEY), from April 2013 to July 2015. Earlier in his career, Jan Kees held various internationally based CFO and other finance executive roles since 1994. Mr. van Gaalen has a master&rsquo;s degree in business administration from HEC Management School (formerly Institut des Affaires &ndash; ISA), Jouy en Josas, France and a bachelor&rsquo;s degree in economics from Erasmus University, Rotterdam, Netherlands.&nbsp;&nbsp;Mr. van Gaalen is 65 years old.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt; color: White"><B>Steven
    R. Worth</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: white"><FONT STYLE="color: White"><I>Former
        General Counsel, Chief Compliance Officer and Corporate Secretary April 2016 through April 8, 2022</I></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: white"><FONT STYLE="color: White"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: White"><I>Former Interim Chief
        Financial Officer and Treasurer June 10, 2021 through August 2, 2021</I></FONT></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"><FONT STYLE="color: White"><I>Former Interim President
and Chief Executive Officer August 2, 2021 through November 28, 2021</I>&nbsp;</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Steven R. Worth was OneSpan&rsquo;s
General Counsel, Chief Compliance Officer and Corporate Secretary from April 2016 to April 8, 2022. Mr. Worth also served as the
Interim Chief Financial Officer and Treasurer from June 2021 to August 2021 and the Interim President and Chief Executive Officer
from August 2021 to November 2021. He had executive responsibility for corporate information security, legal, compliance and intellectual
property matters. Mr. Worth brought more than 25 years of experience across software, technology, consulting and legal industries.
Prior to joining OneSpan, he was an Executive Vice President at SilkRoad Inc., a cloud-based provider of human capital management
software, from 2011 to 2016. Prior to that, Mr. Worth served as Vice President, General Counsel and Corporate Secretary of Diamond
Management and Technology Consultants (formerly NASDAQ: DTPI), an international publicly traded technology services firm, from
2005 to 2010.&nbsp;&nbsp;Before his corporate roles, Mr. Worth practiced law with a large international firm. He holds an MBA
and JD from the University of Wisconsin-Madison, and he has a BS in Industrial and Labor Relations from Cornell University.&nbsp;&nbsp;Mr.
Worth is 52 years old.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
</TABLE>


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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a027"></A>EXECUTIVE
COMPENSATION</B></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; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a028"></A>COMPENSATION
COMMITTEE REPORT</B></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; text-indent: 0.5in; text-align: justify">The Management Development and Compensation
Committee has reviewed and discussed with management the section of this Proxy Statement entitled &ldquo;Compensation Discussion
and Analysis,&rdquo; and, based on such review and discussion, the Management Development and Compensation Committee recommended
to our Board of Directors that the &ldquo;Compensation Discussion and Analysis&rdquo; section be included in this Proxy Statement
and the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2021.</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">Respectfully submitted,</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">Michael McConnell (Chair)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Garry L. Capers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Jean Holley</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: center"><B><A NAME="ospndef14a060822a029"></A>COMPENSATION DISCUSSION AND ANALYSIS</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-indent: 0.5in; text-align: justify">This Compensation Discussion and Analysis
(&ldquo;<B><I>CD&amp;A</I></B>&rdquo;) describes the, the material components of 2021 compensation and discusses the compensation
decisions for our NEOs listed in the &ldquo;2021 Summary Compensation Table.&rdquo; Since January 1, 2021, we have experienced
a number of changes at the senior leadership level. Mr. Mark Hoyt resigned as Chief Financial Officer and Treasurer on June 9,
2021, and Mr. Scott Clements resigned as President and Chief Executive Officer on August 2, 2021. Mr. Steven Worth served as Interim
Chief Financial Officer and Treasurer from June 10, 2021 to August 2, 2021, and as Interim President and Chief Executive Officer
from August 2, 2021 to November 28<SUP>, </SUP>2021. Mr. John Bosshart, Chief Accounting Officer, served as Interim Chief Financial
Officer and Treasurer from August 3, 2021 to October 4, 2021. Mr. Jan Kees van Gaalen joined the Company as Interim Chief Financial
Officer in October 2021. Finally, Mr. Worth separated from the Company on April 8, 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">As of December 31, 2021, the following individuals
served as an executive officer and are NEOs under applicable SEC executive compensation disclosure rules. The 2021 NEOs are as
follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">President and Chief Executive Officer &ndash; Matthew Moynahan; </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Interim Chief Financial Officer &ndash; Jan Kees van Gaalen;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Former General Counsel, Chief Compliance Officer, and
Corporate Secretary, Former President and Chief Executive Officer and Former Interim Treasurer and Chief Financial Officer &ndash;
Steven R. Worth;&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Former President and Chief Executive Officer&mdash;Scott&nbsp;M.&nbsp;Clements;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Former Executive Vice President, Treasurer and Chief Financial Officer&mdash;Mark&nbsp;S.&nbsp;Hoyt.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Former Interim Treasurer and Chief Financial Officer &ndash; John Bosshart</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; text-align: justify">While Messrs. Van Gaalen and Bosshart are NEOs under SEC disclosure
rules, they did not participate in the Company&rsquo;s standard NEO compensation program. Please see the section in this CD&amp;A
entitled &ldquo;Management Transition&rdquo; for a summary of the compensation decisions made with respect to Messrs. Van Gaalen
and Bosshart as well as other compensation decisions made in connection with these management transitions.</P>

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


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<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>Executive Summary</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-indent: 0.5in"><I>Our Company Evolution </I></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; text-align: justify">We have been engaged in driving an evolution
of the Company across multiple dimensions over the last five years. For over 20 years prior to this, the Company derived the vast
majority of its revenue from the sale of hardware authentication tokens and associated services. Hardware revenue now comprises
less than half of our total revenue, and we expect continued growth of software sales to accelerate this evolution. Some specific
goals for 2021 included:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Continued software and services revenue growth;</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Adjusted Annual Contract Value (&ldquo;<B><I>AACV</I></B>&rdquo;) from software and services growth (as defined below);</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Adjusted EBITDA growth (as defined below);</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Executing on certain strategic and human capital objectives, such as improving employee engagement and ensuring the health and safety of our employees during the global pandemic; and</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Focusing the Company on annual recurring revenue (&ldquo;<B><I>ARR</I></B>&rdquo;) and other software company performance metrics internally while also expanding external disclosure to investors as the Company&rsquo;s transition continues. &ldquo;ARR&rdquo; is defined as the annualized value of our customer recurring contracts with a term of at least one-year, as of the measuring date. These include subscription, term-based license, and maintenance contracts and exclude one-time fees. To the extent that we are negotiating a renewal with a customer after the expiration of a recurring contract, we continue to include that revenue in ARR if we are actively in discussion with the customer for a new recurring contract or renewal, or until such customer notifies us that it is not renewing its recurring contract.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">We believe that these goals reflect a fundamental
evolution of the Company that is underway. We have experienced a transition across numerous parameters. We believe the following
revenue metrics demonstrate the magnitude of this evolution:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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; background-color: black">
    <TD STYLE="width: 52%; padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 16%; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>2015</B></FONT></TD>
    <TD STYLE="width: 16%; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>2018</B></FONT></TD>
    <TD STYLE="width: 16%; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>2021</B></FONT><BR></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Hardware revenue (as a percentage of total revenue)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">78%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">50%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">37%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Non-hardware revenue (as a percentage of total revenue)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">22%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">50%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">63%</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt">Recurring software and services&nbsp;revenue (as a percentage of total software and services revenue)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&lt;50%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&lt;60%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">56%</FONT></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; text-align: justify">In addition to the above revenue metrics,
as our transition has progressed and also based on feedback from investors, we disclosed additional financial metrics starting
in 2020 (e.g., ARR and dollar-based net expansion (&ldquo;<B><I>DBNE</I></B>&rdquo;)). For the year, we achieved 20% growth in
ARR; over 32% growth in the subscriptions and term licenses components of ARR; and a DBNE rate of 115% (the year-over-year growth
in ARR from the same set of customers at the end of the prior year period).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Although our hardware device sales have
been declining over time as we transition to a software and services-driven company, hardware still plays an important role in
our delivery of an advanced authentication and transaction signing solution. Our DIGIPASS&reg; devices are today an important backup
and/or alternative for situations or business use cases where smart phone solutions (such as apps or text messages) are not possible
or preferred due to the specific needs of the customer. This is related to the customer&rsquo;s end users, needed functionalities
or security requirements. Among our global banking customers, a large portion of them purchase both our mobile products as well
as our DIGIPASS&reg; hardware products.</P>

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


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<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>Guide to Compensation Discussion &amp; Analysis</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-indent: 0.5in"><I>Our 2021 Performance</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I><U>Company Financial Results</U></I></FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt; color: #1F4D78">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">FY Total revenue declined 1% year-over-year to $214.5 million</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt; color: #1F4D78">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">FY Recurring revenue grew 18% year-over-year to $119.8 million</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt; color: #1F4D78">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">FY GAAP net loss of $30.6 million</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; color: #1F4D78">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">FY Adjusted EBITDA of $(5.1) million</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; color: #1F4D78">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">FY GAAP loss per diluted share of $0.77</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I><U>Key Metrics Under Incentive Programs for 2021</U></I></FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Year-over-year ARR growth was 20% compared to a target of 25% </FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Total revenue was $214 million compared to a target of $220 million</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Adjusted EBITDA was $(5.1) million compared to a target of $0 million (2)</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1) ARR is calculated as the annualized value of our
customer recurring contracts with a term of at least one-year, as of the measuring date.<BR>
&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2) Adjusted EBITDA is defined
as net income before interest, taxes, depreciation and amortization, long-term incentive compensation and certain non-recurring
items, including acquisition-related costs, lease exit costs, rebranding costs and accruals for legal contingencies. For a reconciliation
of Adjusted EBITDA to the most comparable GAAP financial measure, see Annex A to this Proxy Statement.&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="width: 72px">&nbsp;</TD>
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I><U>Company Strategic Goals</U></I></FONT></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; text-align: justify">Consistent with our pay-for-performance
philosophy, the Management Development and Compensation Committee chose to focus primarily on quantitative goals for setting long-term
compensation and annual bonus targets in 2021. Performance against qualitative goals was also considered with respect to setting
2021 compensation amounts, including a 10% allocation of the annual bonus to qualitative strategic goals.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I><U>Summary 2021 Compensation Results</U></I></FONT></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; text-align: justify">The annual cash bonus opportunity for the
NEOs for 2021 was based on the achievement of one-year targets: 90% financial targets and 10% strategic targets. Our financial
results for 2021 fell short of the financial performance targets established by the Management Development and Compensation Committee
at the beginning of 2021 for annual cash bonuses, although above threshold achievement for the revenue and Adjusted EBITDA goals.
As a result, our NEOs received a cash bonus for 2021 at 60% of the target amount (after an adjustment by the Management Development
and Compensation Committee to adjust for extraordinary events, as described below) and earned their 2019-2021 performance-based
equity awards at 66% of the target award. For 2021, as in 2020, long-term incentive awards were solely equity-based, with 60% vesting
based on the achievement of three-year financial targets and 40% subject to time-based vesting conditions. If the three-year targets
are achieved, the performance-based restricted stock units (&ldquo;<B><I>PSUs</I></B>&rdquo;) will cliff vest after the close of
2023. Time-based restricted stock units (&ldquo;<B><I>RSUs</I></B>&rdquo;) vest semi-annually over four years, subject to the NEO&rsquo;s
continued employment through the applicable payment date. The &ldquo;2021 Summary Compensation Table&rdquo; reflects the total
compensation, calculated in accordance with SEC executive compensation disclosure rules, consisting of earned salary and cash bonuses
and the grant date fair value of the 2021 &ndash; 2023 PSUs and 2021 RSUs for our NEOs for 2021.</P>

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

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    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I><U>Say-on-Pay Results</U></I></FONT></TD></TR>
</TABLE>
<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">In its compensation
review process, the Management Development and Compensation Committee considers whether the Company&rsquo;s executive compensation
program is aligned with the interests of the Company&rsquo;s stockholders. The Committee values continuing and constructive feedback
from our stockholders on compensation, and we engage with investors on a regular basis to understand the topics that matter most
to them, including corporate governance and executive compensation. The Committee will continue to monitor our executive compensation
program and, as it deems appropriate, engage with our stockholders and take into account stockholder input as it deems appropriate.
As part of that review, the Compensation Committee considered the approval by approximately 86% of the votes cast for the Company&rsquo;s
say-on-pay vote at our 2021 annual meeting of stockholders. For 2021, the Management Development and Compensation Committee determined
that the Company&rsquo;s executive compensation philosophies and objectives and compensation elements continued to be appropriate
considering the transition of the management team and development of a new multi-year strategic plan. Going forward, we expect
that our executive compensation philosophy and program will continue to evolve and mature to align with our new company strategy
and remain competitive in the global technology industry.</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"><B>Compensation Overview and Approach</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-indent: 0.5in; text-align: justify">We
operate in the very competitive global technology industry, specializing in cybersecurity, identity verification, fraud management,
eSignature and related hardware and software solutions, which are subject to constant change and require market-leading innovation
and management. To succeed in this environment, OneSpan is required to attract, motivate, reward and retain highly talented and
experienced executives and key employees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Accordingly, the Management Development
and Compensation Committee is guided by the following principles:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Compensation should be based on the level of job responsibility, individual performance and Company performance. The greater the level of responsibility, the greater the proportion of compensation that should be linked to Company performance and stockholder returns, because of a greater ability to affect Company results.</FONT></TD></TR>
</TABLE>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Compensation should be aligned with the value of the job in the marketplace and should be designed to allow OneSpan to attract, motivate and retain the caliber of executive talent that we require to succeed in our industry.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Compensation should reward performance, both annual and long-term. Accordingly, the Management Development and Compensation Committee believes that a substantial portion of an executive officer&rsquo;s compensation should be subject to achieving measurable performance criteria that are linked directly to the Company&rsquo;s strategy and to stockholder value and that a substantial portion of that performance-based compensation should be paid in the form of equity.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Exceptional performance, both for the individual and for OneSpan, should be rewarded with a high level of performance-based compensation; likewise, when performance fails to meet expectations or lags benchmarks set by the Management Development and Compensation Committee, the result should be reduced compensation </FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Performance-based compensation should be based on measures that are simple to understand and that are aligned with the Company&rsquo;s long-term strategies and operational goals.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The objectives of pay-for-performance are balanced with retention of key employees whose knowledge and experience are important to our long-term strategies and success. Even in periods of temporary downturns in Company performance or during periods of transition, the level of compensation supports our ability to motivate and retain our NEOs and the execution of our long-term strategies.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">We use compensation data for a peer group
of companies as one of several inputs and, specifically, as a reasonableness standard in determining the types and amounts of compensation
we believe are appropriate for our NEOs. We do not target a&nbsp;percentile range within the peer group. The total targeted compensation
of our former CEO and former CFO were near the median of the peer group for 2021 when their compensation was established at the
start of 2021. The total targeted compensation of our former General Counsel was slightly above the median based on the seven peers
disclosing General Counsel data in their annual proxy statements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">We believe that our approach to setting
targets with multiple performance measurement metrics assists in mitigating excessive risk-taking that could harm OneSpan&rsquo;s
value or reward poor judgment by our executives. We have allocated compensation among base salary and short- and long-term compensation
opportunities in such a way as to not encourage excessive risk-taking, but to reward meeting strategic Company goals that we believe
support stockholder value creation over time. In addition, we believe that the mix of equity awards granted under our long-term
incentive program, which includes awards with multi-year vesting, as well as the significant equity holdings of our NEOs, also
mitigates against risk that would not be justified by a longer-term investment horizon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">We do not consider the realized value of
past awards when determining current compensation.</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"><B>What We Do</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Reward performance</B>, both annual and long-term, through incentive compensation.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Balance between short-term and long-term compensation</B> to discourage short-term risk taking at the expense of long-term results.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Utilize performance-based equity</B> to align the long-term interests of our participating NEOs with those of our stockholders.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Encourage significant stock holdings</B> by NEOs covered by our stock ownership guidelines.</FONT></TD></TR>
</TABLE>


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


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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Have clawback provisions</B> under plans and grant agreements.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Provide for multi-year vesting</B> of equity awards.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Require a double trigger </B>for change of control payments.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Retain an independent external consultant</B> to assist our Management Development and Compensation Committee from time to time.</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"><B>What We Do Not Do</B></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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>No excessive perquisites</B> for our NEOs.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>No special executive retirement programs</B> that are specific to our NEOs.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>No hedging transactions or short sales</B> allowed for NEOs, directors or employees.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>No pledging, buying put or call options</B>, or otherwise allowing our NEOs or directors to engage in speculative transactions with respect to our stock.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>No tax gross-ups</B> on severance payments.</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"><B>The Management Development and Compensation Committee&rsquo;s
Processes and Practices</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-indent: 0.5in; text-align: justify">The Management Development and Compensation
Committee of our Board makes all determinations regarding the compensation of our NEOs, including the evaluation and approval of
compensation plans, policies and programs offered to our NEOs. In the case of the interim NEOs, the Management Development and
Compensation Committee reviewed current compensation and made recommendations to the Board with respect to any agreement or interim
compensation and incentives. Under its charter, the Management Development and Compensation Committee has the authority to engage
its own independent advisor to assist in carrying out its responsibilities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Management Development and Compensation
Committee designed 2021 total compensation potential for our then-serving NEOs based largely on at-risk incentive compensation.
Compensation is designed to create incentives for strong financial and operational performance and for the long-term growth and
value of the Company, thereby aligning the interests of management with the interests of our stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In general, the majority of our NEOs&rsquo;
2021 target compensation was at-risk in the form of a performance-based cash bonus, PSUs and RSUs. Performance targets for the
2021 annual cash bonus were based on OneSpan&rsquo;s annual budget, and performance targets for the PSUs were based on three-year
financial forecasts. Failure to meet the targets would result in reduced or no payment of a cash bonus, and no issuance of shares
with respect to the PSUs. Overachievement of targets would result in the payment of cash or the issuance of stock above the targeted
amounts, subject to maximum payout caps. In addition, RSU awards are considered at-risk as the value of such awards fluctuates
based on the performance of our stock price.&nbsp;</P>

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 29px; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Consideration of Company and Industry Performance</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Management Development and Compensation
Committee took into account the Company&rsquo;s performance during 2021, its 2021 budget and long-term strategy as well as information
about our peer group in its compensation decisions, as described below:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Assessment of OneSpan&rsquo;s Performance</U>.</I>&emsp;In 2021, we provided incentive compensation designed to compensate the participating NEOs based on the performance of OneSpan&rsquo;s business. Our annual cash bonus targets were based on ARR growth, total revenue and Adjusted EBITDA (weighted 30%, 40% and 20%, respectively). Of the total long-term equity incentive component, 60% was delivered in the form of PSUs and the remaining 40% was granted as time-based RSUs vesting over four years. For the PSUs, we used subscription plus term license revenue (50% weighting), Adjusted EBITDA (25% weighting) and total stockholder return (&ldquo;<B><I>TSR</I></B>&rdquo;) (25% weighting). The RSUs are designed to support stockholder value creation as the value of the award fluctuates based on our stock price performance.</FONT></TD></TR>
</TABLE>


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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Annual Performance Goals and Annual Assessments of Individual Performance</U>.</I>&emsp;At the beginning of each fiscal year, the then-serving NEOs proposes, for consideration by the Management Development and Compensation Committee, annual goals (both individual and Company objectives) to be accomplished in the year. These goals are aligned with key Company strategic initiatives and the financial plan for the year. The proposed goals of each then-serving NEO, other than our CEO, are reviewed and discussed by the individual and our CEO before they are presented to the Management Development and Compensation Committee. The Management Development and Compensation Committee may solicit input from our NEOs regarding goal setting and their performance if it believes such input to be appropriate and helpful to its review and decisions. The Management Development and Compensation Committee often seeks further input from our CEO in establishing the annual performance goals for other NEOs. The proposed annual goals are reviewed, adjusted as the Management Development and Compensation Committee considers appropriate and approved by the Management Development and Compensation Committee. Progress against the established goals is reviewed during the &ldquo;performance year,&rdquo; including a year-end performance review. The conclusions that result from the year-end review are used as one of the factors considered in determining an executive&rsquo;s base salary for the following year.</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 29px; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Peer Analysis</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In making compensation decisions, as one
of several inputs, the Management Development and Compensation Committee reviewed targeted total compensation for our former CEO,
former CFO, and former General Counsel. against the total compensation paid by a peer group of publicly traded technology companies
(1). This peer group, which is reviewed and updated by the Management Development and Compensation Committee annually, consists
of companies viewed as competitors for customers, talent and stockholder investment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">There were 16&nbsp;companies in the peer
group reviewed by the Management Development and Compensation Committee as part of establishing 2021 compensation levels for the
NEOs, which was the same peer group used to evaluate 2020 compensation decisions. The 2021 peer group consisted of the following
companies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 50%; padding-left: 0.5in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A10 Networks, Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Software, Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackline, Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cerence Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digital Turbine, Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forescout Technologies,
        Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MobileIron, Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PROS Holding,
Inc.&nbsp;</P></TD>
    <TD STYLE="width: 50%; padding-left: 0.25in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QAD Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Qualys, Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rapid7, Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SailPoint Technologies
        Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SecureWorks Corp</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenable Holdings</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Varonis Systems, Inc.</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">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zix Corporation&nbsp;</P></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; text-align: justify">The Management Development and Compensation
Committee reviewed information regarding the salary levels, bonus amounts, targeted bonus amounts and long-term equity award levels
and types for executives at the peer group companies in positions comparable to those of the Company&rsquo;s former CEO, former
CFO and former General Counsel. The data reviewed was derived from information in publicly available proxy filings in 2020 regarding
compensation paid by the peer group companies in 2019 (2020 compensation data was utilized to the extent available at the time
of the Management Development and Compensation Committee&rsquo;s review in late 2020 and early 2021).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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: 0.25in">(1)</TD><TD STYLE="text-align: justify">Of the peer group companies, seven disclosed General Counsel pay data in their annual proxy statements.</TD></TR></TABLE>

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




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<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; text-align: justify">Although the Management Development and
Compensation Committee reviews the compensation practices of the companies in the peer group, the Management Development and Compensation
Committee does not adhere to strict targets or formulas to determine the mix or absolute value of compensation components. Instead,
the Management Development and Compensation Committee considers various factors in exercising its discretion to determine compensation
for our NEOs, including the experience, responsibilities and performance of the NEO, as well as the Company&rsquo;s overall financial
and competitive performance. The Management Development and Compensation Committee believes that this flexibility is particularly
important in designing compensation arrangements to attract and retain executives in a highly competitive and rapidly changing
market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><I>Role of the Independent Consultant.</I>&emsp;The
Management Development and Compensation Committee retains an independent consulting firm from time to time as the Management Development
and Compensation Committee determines is appropriate. The Management Development and Compensation Committee&rsquo;s charter requires
the Management Development and Compensation Committee to assess various independence factors to better understand the level of
independence of the consulting firm. The Management Development and Compensation Committee engaged Pay Governance to advise on
2021 compensation matters. Pay Governance consulted with the Management Development and Compensation Committee on the 2021 program
including benchmarking of NEO target pay and the weighting of strategic goals. Pay Governance interacts with management as directed
by the Management Development and Compensation Committee, but the firm does not perform any other services for the Company. The
Management Development and Compensation Committee reviewed the independence of Pay Governance under Nasdaq and SEC rules and concluded
that the work of Pay Governance has not raised any conflict of interest.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><I>Role of Management.</I> &emsp;The Management
Development and Compensation Committee makes all determinations regarding the compensation of the NEOs. The officers are asked
to propose goals for the incentive programs for consideration by the Management Development and Compensation Committee. However,
they are subject to approval and modification by the Management Development and Compensation Committee. Our CEO evaluates the performance
of his direct reports and other key employees of the Company as part of the interim progress reviews during the year and as part
of the year-end performance review. The Management Development and Compensation Committee considers the CEO&rsquo;s evaluations
and recommendations in setting compensation levels for the NEOs. The Management Development and Compensation Committee may solicit
input from our NEOs regarding goal setting and their performance if it believes such input to be appropriate and helpful to its
review and decisions. The Management Development and Compensation Committee reviews the CEO&rsquo;s performance as compared to
his performance goals. If it considers it appropriate to do so, the Management Development and Compensation Committee may confer
with other members of management or the Committee&rsquo;s compensation consultant in connection with the year-end performance reviews
and the setting of compensation levels (both total compensation and individual components thereof) for the succeeding year. In
2021, the Management Development and Compensation Committee reviewed the goals set by the former CEO taking into consideration
the management transition and performance of interim NEOs, and the Company performance overall.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Other Compensation Matters</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Clawback Provisions.</I>&emsp;The Company&rsquo;s equity incentive plan, standard equity grant agreements and cash incentive compensation plan provide that if the Company determines that the grantee&rsquo;s &ldquo;wrongful act&rdquo; (as defined in each plan) was a significant contributing factor to the Company or a subsidiary having to restate all or a portion of its financial statements, the Management Development and Compensation Committee may determine that such grantee will forfeit and must repay to the Company any shares of our Common Stock, cash or other property paid in respect of any amount awarded during the period beginning on the date the financial statements requiring restatement were originally released to the public or submitted to the SEC (whichever is earlier) and ending on the date the restated financial statements are filed with the SEC.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Executive Stock Ownership</I>.&emsp; The Management Development and Compensation Committee reviews the stock ownership policy for OneSpan&rsquo;s executives. In 2016, the Management Development and Compensation Committee adopted an executive stock ownership policy requiring executive officers to hold equity at least equal to a multiple of the current base salaries of each of the CEO and CFO of 300% and 150%, respectively, within three years of appointment. Shares of our Common Stock that have been granted but are subject to additional time-based vesting are counted toward this requirement. As of the Record Date, only our CEO was subject to these guidelines and is within the three-year transition period.&nbsp;&nbsp;As an independent contractor hired for the interim CFO role, this policy did not apply to Mr. van Gaalen. </FONT></TD></TR>
</TABLE>


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


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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>No hedging or pledging.</I>&emsp;The Company&rsquo;s Officer and Director Stock Trading Policy prohibits executive officers, directors and other employees from the following trading activities in OneSpan securities: short selling; buying or selling put options, call options or other derivative securities relating to the Company; engaging in hedging transactions, such as &ldquo;costless collars&rdquo; and forward sale contracts for OneSpan securities; purchasing OneSpan securities on margin; borrowing against Company securities in a margin account; or pledging OneSpan securities.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>No Excise Tax Gross-ups.</I>&emsp;The Company does not provide any excise tax gross-up for any payment to an executive officer that would be an &ldquo;excess parachute payment&rdquo; as defined in Section&nbsp;280G of the Internal Revenue Code.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>No Repricing of Stock Options.</I>&emsp;Our equity plans prohibit repricing stock options or paying cash for underwater stock options<I>.</I></FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Executive Management Succession Plan</I>.&emsp;During 2016, the Company formalized its approach to executive management succession planning and adopted a written policy that was approved by our Board and is periodically evaluated. The Company followed this approach as we replaced our CFO and our CEO during 2021, and the Management Development and Compensation Committee continues to oversee succession planning as part of its duties.</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"><B>Elements of Compensation</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-indent: 0.5in; text-align: justify">The principal components of our NEO compensation
program consist of base salary, annual cash incentive compensation and long-term incentive compensation.</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"><B>NEO Compensation for 2021</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Compensation Element</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Description</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Cash</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Equity</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Base Salary</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Fixed annual cash pay based on scope of responsibilities and individual performance</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #70AD47">&#10003;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #70AD47">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Annual Cash Bonus</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Variable annual cash bonus tied to achievement of designated annual targets</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #70AD47">&#10003;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #70AD47">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Long-Term Incentive&mdash;40% RSUs with four-year vesting every six-months</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Time-based stock program, which encourages and rewards continued four-year service with the Company and long-term performance of our Common Stock</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #70AD47">&#10003;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #70AD47">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Long-Term Incentive&mdash;60% PSUs with vesting at the end of the three-year performance period, if earned</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Variable performance-based stock program based on achievement of three-year financial targets, which encourages and rewards continued service with the Company and long-term performance of our Common Stock</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #70AD47">&#10003;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #70AD47">&nbsp;</P></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"><B>Base Salary</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-indent: 0.5in; text-align: justify">Base salary is the fixed element of the
NEOs&rsquo; annual cash compensation. The value of base salary recognizes the executive&rsquo;s long-term performance, scope of
responsibilities, capabilities and the market value of those capabilities. Salary increases are generally effective January&nbsp;1
of each year.</P>

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




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<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; text-align: justify">In establishing the
base salaries for 2021, the Management Development and Compensation Committee considered OneSpan&rsquo;s peer group data, Company
performance and each then-serving NEO&rsquo;s accomplishment of his annual personal goals that had been established for the preceding
year, as well as the Management Development and Compensation Committee&rsquo;s own subjective assessment of each individual&rsquo;s
performance. In addition, in the case of new hires, the Management Development and Compensation Committee consider the compensation
received by the NEO at the NEO&rsquo;s prior date. Based on the foregoing factors, the base salaries of our NEOs were as follows
for 2021:&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse; margin-left: 0.5in">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Name and Principal Position</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2021</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Base Salary<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP></SUP></FONT></B>&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2020</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Base&nbsp;Salary</B>&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Percentage</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Change</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 69%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Matthew Moynahan</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">President and Chief Executive Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 8%"><FONT STYLE="font-size: 10pt">500,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 8%"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 12%"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jan Kees van Gaalen</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">Interim Chief Financial Officer&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Steven R. Worth (2)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Former Treasurer and Chief Financial Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Former President and Chief Executive Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">General Counsel, Chief Compliance Officer and Corporate Secretary</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">526,091</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">366,011</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">43.7%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Scott&nbsp;M. Clements (3)</FONT><BR>
<FONT STYLE="font-size: 10pt">Former President and Chief Executive Officer</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">480,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">480,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0.0%</FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Mark&nbsp;S. Hoyt (3)</FONT><BR>
<FONT STYLE="font-size: 10pt">Former Executive Vice President, Treasurer and Chief Financial Officer</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$ </FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">380,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">380,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0.0%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John Bosshart</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Former Chief Financial Officer&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">340,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">$ </FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">340,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0.0%</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Mr. van Gaalen has a separate independent contractor agreement where he receives a fixed fee of $60,000 monthly fee.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(2)</TD><TD STYLE="text-align: justify">The amount reported in the 2021 base salary column for Mr. Worth reflects his base salary as General Counsel
and additional cash monthly fees for the periods he served as Interim Chief Financial Officer and Interim Chief Executive Officer
as described in the &ldquo;Management Transition&rdquo; section on page 61.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"></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; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(3)</TD><TD STYLE="text-align: justify">The amount reported in the 2021 base salary column for Messrs. Clements and Hoyt reflect their base salary levels in effect
at the time of their departures.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Annual Cash Bonus</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-indent: 0.5in; text-align: justify">For 2021, each of the NEOs (other than Messrs.
Moynahan and van Gaalen) was eligible to receive an annual cash bonus based on the Company&rsquo;s achievement of annual financial
metrics, for the Company as a whole, that had been established by the Management Development and Compensation Committee. The Management
Development and Compensation Committee, after reviewing several inputs, including the estimated compensation for officers in comparable
positions at peer group companies, established the 2021 annual cash bonus targets as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>&nbsp;</B></P></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Bonus&nbsp;at the</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Target</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Percentage<BR>
</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Bonus</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Name and Principal Position</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Level</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Base&nbsp;Salary</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Actually&nbsp;Earned</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 62%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Matthew Moynahan (1)</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">President and Chief Executive Officer&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 10%"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 10%"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 10%"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jan Kees van Gaalen (1)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Interim Chief Financial Officer&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">$</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Steven R. Worth (2)</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">General Counsel, Chief Compliance Officer and Corporate
Secretary&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">400,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">60%</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">240,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Scott&nbsp;M. Clements (3)</FONT><BR>
<FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">480,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Mark&nbsp;S. Hoyt (3)</FONT><BR>
<FONT STYLE="font-size: 10pt">Executive Vice President, Treasurer and Chief Financial Officer</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">285,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">75%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John Bosshart</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">Former Chief Financial Officer&nbsp;</P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">170,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">50%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">136,000</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Messrs. Moynahan and van Gaalen did not participate in the 2021 annual bonus program.</TD></TR></TABLE>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(2)</TD><TD STYLE="text-align: justify">The Board agreed to base Mr. Worth&rsquo;s 2021 bonus target on $400,000 to adjust for the amounts he
received for serving in interim roles as described in the &ldquo;Management Transition&rdquo; section on page 61.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"></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; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(3)</TD><TD STYLE="text-align: justify">Neither Mr. Clements nor Mr. Hoyt received a 2021 bonus in light of their 2021 separations.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">For 2021, the Management Development and
Compensation Committee determined that the annual cash bonus could be earned, in whole or in part, based on the Company&rsquo;s
achievement of the following metrics:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</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: bottom; background-color: black">
    <TD STYLE="width: 60%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Goal</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Weighting </B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>YoY ARR Growth</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">50%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>Total Revenue Component</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">20%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>Annual Adjusted EBITDA Component</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">20%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>Strategic Objectives Component</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">10%</FONT></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; text-align: justify">Each of the ARR growth target, annual software
and services revenue target and annual Adjusted EBITDA target was derived from OneSpan&rsquo;s operating budget for 2021 and was
approved by the Management Development and Compensation Committee in February&nbsp;2021. As the Company has transitioned from reporting
ACV to ARR, the goals were updated from previous years to reflect this change and connect management performance to the new reported
metrics. In each case, if the participating NEOs were to fail to successfully execute or manage the key actions assumed in the
operating budget, the target likely would not be achieved. The strategic objectives covered a range of goals including mobile security
modernization, cloud platform management, increasing software customers, improving employee engagement in a remote work environment
and further developing the middle management cohort at the Company.</P>

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



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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I>Annual Recuring Revenue Growth Component</I></FONT></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; text-align: justify">Fifty percent of the possible total target
annual cash bonus award was based on achievement of ARR Growth at a target of 25% that was determined by the Management Development
and Compensation Committee to be a challenging but achievable goal with strong execution against the Company&rsquo;s operating
plan. The Management Development and Compensation Committee established the following performance payout curve for performance
at levels lower or higher than the ARR Growth target.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="width: 52%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Performance Level (2021 ARR Growth)</B></FONT></TD>
    <TD STYLE="width: 48%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Level of Payout&nbsp;as&nbsp;a&nbsp;Percent of Target</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Less than 21.25%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">21.25%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">50%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">25%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">28.75% or higher</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">200%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Payment for performance between stated levels
would be interpolated. In addition, the Management Development and Compensation Committee retained discretion to adjust for changes
in accounting rules and extraordinary events.</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 February&nbsp;2022, the Management Development
and Compensation Committee determined that the Company&rsquo;s ARR Growth in 2021 was 20.3%, which was below the threshold performance
goal.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I>Total Revenue Component</I></FONT></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; text-align: justify">Twenty percent of the possible total target
annual cash bonus award was based on achievement of total revenue at a target of $220.6&nbsp;million. The performance goals required
meaningful growth from $215.7 million in 2020 despite an expected decrease in hardware sales and lower upfront revenue due to a
shift from perpetual to term based license sales. The Management Development and Compensation Committee established the following
payout curve for performance at levels lower or higher than the total revenue target, with a maximum payout of 200% of target if
2021 total revenue was $253.7&nbsp;million or more:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="width: 52%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Performance Level</B></FONT></TD>
    <TD STYLE="width: 48%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(2020 Total Revenue)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Level of Payout&nbsp;as&nbsp;a&nbsp;Percent of Target</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Less than $187.5&nbsp;million</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$187.5&nbsp;million</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">50%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$220.6&nbsp;million</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;100%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$253.7&nbsp;million or higher</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;200%</FONT></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; text-align: justify">Payment for performance between stated levels
would be interpolated. In addition, the Management Development and Compensation Committee retained discretion to adjust the revenue
amount for changes in accounting rules and extraordinary events.</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; text-align: justify">In February&nbsp;2022, the Management Development
and Compensation Committee reviewed the total revenue for the year ended December&nbsp;31, 2021, which was $214.5&nbsp;million,
in excess of the threshold goal. Accordingly, the Management Development and Compensation Committee determined, for the total revenue
component, that achievement was at 91% of target.</P>

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






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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I>Annual Adjusted EBITDA Component</I></FONT></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; text-align: justify">Twenty percent of the possible total target
annual cash bonus award was based on achievement of annual Adjusted EBITDA at a target of $0. Due to the initial efforts of the
internal action plan to streamline the business, we projected slower growth and approximated breakeven Adjusted EBITDA for 2021.
The target achievement level was determined based on the Company&rsquo;s 2021 operating plan, including projected cash flow and
expected investments for growth. The Management Development and Compensation Committee established the following payout curve for
performance at levels lower or higher than the annual Adjusted EBITDA target, with a maximum payout of 200% of target if 2021 annual
Adjusted EBITDA was $5.0&nbsp;million or more:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="width: 52%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Performance Level</B></FONT></TD>
    <TD STYLE="width: 48%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(2021 annual Adjusted EBITDA)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Level of Payout&nbsp;as&nbsp;a&nbsp;Percent of Target</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Less than ($5.0&nbsp;million)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">($5.0&nbsp;million)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">50%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$0.0&nbsp;million</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$5.0&nbsp;million or higher</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">200%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Payment for performance between stated levels
would be interpolated. In addition, the Management Development and Compensation Committee retained discretion to adjust the Adjusted
EBITDA amount for changes in accounting rules and extraordinary events.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In February&nbsp;2022, the Management Development and Compensation Committee reviewed the annual Adjusted
EBITDA for the&nbsp;year ended December&nbsp;31, 2021, which was ($5.1) million, which was below the threshold performance goal.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 29px; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Strategic Objectives</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The strategic objectives component was derived
from OneSpan&rsquo;s priorities and market conditions for 2021 as described above. The discretionary strategic objectives component,
with a weighting of 10%, was approved by the Management Development and Compensation Committee. The Management Development and
Compensation Committee reviewed various performance indicators and projects completed in 2021 related to the strategic objectives.
In February&nbsp;2022, the Management Development and Compensation Committee also reviewed the management changes that occurred
in 2021 and efforts put forth by the remaining eligible employees for a 2021 bonus and concluded that full achievement of the target
was earned.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 29px; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Final Annual Cash Bonus Decisions</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">When the full year achievement results were
aggregated, the overall cash bonus award payout would have been 41% of target based on the results and weightings of the measures
discussed above. However, the Management Development and Compensation Committee analyzed the financial metrics for 2021 and considered
the continued impact of the COVID-19 pandemic, the number of key personnel changes at the leadership level during the year, our
evolving corporate strategy, and the focus on repositioning the business. With this, the Management Development and Compensation
Committee considered its ability to adjust performance targets for the impact of extraordinary items or events.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Following such review the Management Development
and Compensation Committee considered the extenuating circumstances occurring during the 2021 fiscal year including the transitions
in management, labor costs in light of inflation, increasing competition for talent, supply chain interruptions, focus on retaining
personnel important to the Company&rsquo;s restructuring plan and the need to retain critical talent and determined that an increase
from the goal attainment was important to the Company&rsquo;s ongoing plans. The Management Development and Compensation Committee
therefore increased the payout from 41% to 60% of target for participating NEOs and other management team members and 80% of target
for the rest of the plan participants, including Mr. Bosshart, who represent middle managers and material individual contributors
that are viewed as having a significant impact on the day-to-day operations of the Company. The increased payout from 41% to 60%
for executives and to 80% for all other plan participants, led to a total increase in payments of $389,452 for executive officer
participants and $817,080 for all other plan participants.</P>

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





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<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>Long-Term Equity Compensation</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-indent: 0.5in; text-align: justify">Long-term incentive awards for 2021 were
granted in February&nbsp;2021 pursuant to our 2019 Omnibus Incentive Plan. The plan was designed to serve as a performance incentive
to encourage our executives, key employees and others to acquire or increase a proprietary interest in OneSpan&rsquo;s success.
These incentives promote a long-term perspective that the Management Development and Compensation Committee believes is critical
to the continued success of our business and are designed to align the interests of recipients with our stockholders. The Management
Development and Compensation Committee believes that, over a period of time, our stock performance will, to a significant extent,
be a direct result of our executives&rsquo; and key employees&rsquo; performance. The 2019 Omnibus Incentive Plan provides that
awards of stock-based compensation, including RSUs and PSUs, may be granted at the discretion of the Management Development and
Compensation Committee, in such amounts and subject to such conditions as the Management Development and Compensation Committee
may determine in accordance with the plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In determining awards for 2021, the Management
Development and Compensation Committee reviewed long-term incentive compensation as part of total compensation based on comparisons
with the peer companies, market conditions and other factors. Based on a review of market data and other factors, the Management
Development and Compensation Committee determined to freeze NEO long-term incentive compensation for 2021 for Mr. Clements and
Mr. Hoyt. In 2021, Mr. Worth was granted additional incentive compensation upon taking on interim roles. As well, in 2021, Mr.
Bosshart received additional equity compensation as a retention incentive equal to $150,000 in value. As an independent contractor,
Mr. van Gaalen is not eligible for long term equity compensation. The Management Development and Compensation Committee determined
the target economic value of the long-term compensation award for each then-serving NEO as a&nbsp;percentage of his base salary,
as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Mr.&nbsp;Clements&mdash;$3,040,000 or 633% of base salary </FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Mr.&nbsp;Hoyt&mdash;$1,285,000 or 338% of base salary</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 48px"></TD><TD STYLE="width: 24px; text-align: left">&#9679;</TD><TD>Mr. Worth&mdash;$750,000 or 205% of base salary</TD>
</TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Mr.&nbsp;Bosshart&mdash;$320,000 or 94% of base salary</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">On the grant date, the economic value of
the long-term incentive awards was converted into the equivalent number of PSUs and RSUs by dividing the target economic value
by the closing price of our Common Stock on the grant date, with PSUs weighted 60% and RSUs weighted 40%. The RSUs vest based on
continued service over the four-year vesting period, while the PSUs vest based on performance over a three-year performance period,
as discussed further below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Management Development and Compensation
Committee believes performance-based long-term incentives based on three-year performance measures, and four-year time-based vesting,
enhances the link between the creation of stockholder value and long-term executive compensation, provides increased equity ownership
by the NEOs and enables competitive levels of total compensation with an emphasis on payment for results. The Management Development
and Compensation Committee believes that the mix of a performance-based award and time-based award appropriately aligned the NEOs&rsquo;
interests with those of our stockholders. In addition, the multi-year performance and vesting periods are designed to mitigate
risk and properly adjust for the time horizon of risk, as these awards require an individual to remain in employment with OneSpan
for multiple&nbsp;years before an award is fully vested.</P>

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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I>2021 - 2023 PSUs</I></FONT></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; text-align: justify">Sixty percent of the target economic value
was granted as performance-based equity dependent on three-year performance targets. The three-year PSUs will vest, if at all,
based on 2021 - 2023 performance against pre-established performance goals. The Management Development and Compensation Committee
established the annual targets for the three-year PSUs, which it believed, were aligned with the strategic plan and the Company&rsquo;s
2021 - 2023 budget. The targets are based upon total revenue (weighted 25%), Adjusted EBITDA (weighted 25%) and 3-year relative
TSR performance (weighted 25%). For the relative TSR performance goal, our TSR will be measured against the TSR of a peer group
of 77 companies, as recommended by Pay Governance, with performance levels based on our percentile rank ranging from 30 to 80 or
higher and a target payout for median of performance. These metrics were viewed as key indicators of the Company&rsquo;s success
in executing against its operating plan. In recognition of the Company&rsquo;s use of revenue and Adjusted EBITDA components in
both the annual and long-term incentive programs, the Management Development and Compensation Committee supplemented the performance
measures under the annual and long-term incentive programs with additional performance measures in order to strike an appropriate
balance with respect to incentivizing top-line growth, profitability, non-financial business imperatives and stockholder returns
over both the short- and long-term horizons. These targets were designed to be challenging but achievable based on the Company&rsquo;s
execution against its operating plan. If the NEOs were to fail to successfully execute or manage the key actions assumed in the
operating budget and the strategic plan, the targets likely would not be achieved.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I>2019&ndash;2021 PSUs&nbsp;</I></FONT></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; text-align: justify">In February 2022, the Management Development
and Compensation Committee determined that the three-year PSUs granted in 2019 would vest based on Company performance for the
period of 2019 - 2021. The following table sets forth the performance goals and the Company&rsquo;s results with respect to the
2019 - 2021 performance period:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: top; width: 30%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Performance Level</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 35%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Performance Level</B>&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>(2019 - 2021 Hardware
Revenue)</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 30%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Level of Payout&nbsp;as&nbsp;a&nbsp;Percentage of Target</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Below Threshold</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Less than $244&nbsp;million</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">0%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Threshold</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$244&nbsp;million</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">50%</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Target</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$271&nbsp;million</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">100%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Maximum</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$298&nbsp;million or higher</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">&nbsp;150%</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Actual Results</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$288<B>&nbsp;</B>million</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">132%</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: top; width: 30%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Performance Level</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 35%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Performance Level</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>(2019-2021 Non-Hardware
Revenue)</B>&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; width: 30%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Level of Payout&nbsp;as&nbsp;a&nbsp;Percentage of Target</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Below Threshold</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Less than $464&nbsp;million</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">0%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Threshold</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$464&nbsp;million</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">50%</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Target</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$515&nbsp;million</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">100%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Maximum</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$567 million</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">150%</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Actual Results</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$396<B>&nbsp;</B>million</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">0%</FONT></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">Based on the performance above, the attainment
was determined to be 66% and the then-serving NEOs earned the following shares.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: top; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>NEO</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>2019 - 2021 Target Shares</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>2019 - 2021 Earned Shares</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Matthew Moynahan (1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Jan Kees van Gaalen (1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Steven R. Worth</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">21,914</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">14,463</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Scott&nbsp;M. Clements (2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">81,005</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Mark&nbsp;S. Hoyt (2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">37,246</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">John Bosshart (1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Messrs. Moynahan, van Gaalen and Bosshart did not participate in the 2019-2021 PSU program.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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">(2)</TD><TD>Due to their departures, Messrs. Clements and Hoyt forfeited the 2019-2021 PSUs.</TD></TR></TABLE>

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


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<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>Additional Compensation Elements</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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px">&nbsp;</TD>
    <TD STYLE="width: 29px">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I>Other Benefits</I></FONT></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; text-align: justify">Our NEOs participate in our corporate-wide
benefit programs. Our NEOs are offered benefits that generally are commensurate with the benefits provided to all of our full-time
employees, which includes participation in our qualified defined contribution plan. During 2021, we did not provide our NEOs with
nonqualified retirement programs or perquisites that are often provided at other companies.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 29px; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Change of Control and Severance Benefits</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Management Development and Compensation Committee believes the severance and change in control benefit
plans for our NEOs are comparable with those benefits offered by our competitors and necessary to retain a talented executive team.
The NEOs&rsquo; possible severance and change in control benefits are described below under &ldquo;Management Transition&rdquo;
and under &ldquo;Potential Payments Upon Termination or Change-in-Control.&rdquo; All stock awards require a &ldquo;double trigger&rdquo;
for vesting to accelerate (both a change in control and a qualifying termination of employment).</P>

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



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<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>Management Transition </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-indent: 0.5in; text-align: justify">As noted above, since January 1, 2021, we
experienced a number of senior leadership changes. The following summarizes the compensation decisions made with respect to those
changes:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="background-color: white"><I>Scott
M. Clements. </I>On August 4, 2021, the Company announced that, Mr. Clements left the Company (including the Board) effective August
2, 2021. Mr. Clements&rsquo; employment agreement with the Company dated December 1, 2015, as amended effective November 15, 2016
and July 28, 2017, provided that he would receive certain severance payments in connection with a termination without cause (as
defined therein), subject to his execution of a customary release in form and substance reasonably acceptable to the Company. See
the Potential Payments Upon a Termination or a Change in Control for a summary of the amounts paid to Mr. Clements. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><I>Mark S. Hoyt. </I>Mr. Mark Hoyt resigned
as Chief Financial Officer and Treasurer on June 9, 2021. Mr. Hoyt did not receive any severance in connection with his departure.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><I>Steven R. Worth. </I>On June 9, 2021,
Mr. Worth was appointed to the position of Interim Chief Financial Officer and Treasurer, which roles were in addition to his existing
executive responsibility for corporate information security, legal, compliance and intellectual property matters. In connection
with Mr. Worth&rsquo;s appointment, the Company and Mr. Worth entered into an amendment (the &ldquo;<B><I>Worth Amendment</I></B>&rdquo;)
to Mr. Worth&rsquo;s employment agreement with the Company, dated April 18, 2016 (the &ldquo;<B><I>Worth Employment Agreement<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP></SUP></FONT></I></B>&rdquo;).
Pursuant to the Worth Amendment, (i) Mr. Worth&rsquo;s base salary was restated at its current amount of $366,011; (ii) Mr. Worth
became entitled to a monthly fee of $10,000 per month for service as Interim Chief Financial Officer; (iii) from calendar year
2021,&nbsp;Mr. Worth&rsquo;s target bonus under the annual bonus plan was to be equal to at least $250,000; (iv) from calendar
year 2021, Mr. Worth&rsquo;s award under the long-term equity incentive award was to be equal to at least $750,000; and (v) the
severance benefits payable to Mr. Worth upon a termination without cause or due to good reason (each as defined in the Worth Employment
Agreement) was increased from six months of Mr. Worth&rsquo;s annual base salary and fifty percent (50%) of his target bonus under
the annual bonus plan to twelve (12) months of Mr. Worth&rsquo;s annual base salary and one hundred percent (100%) of his target
bonus under the annual bonus plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="background-color: white">On August 4, 2021, the Company announced the appointment of Mr. Worth as Interim President and Chief Executive
Officer, following Mr. Clements departure. In connection with Mr. Worth&rsquo;s appointment as Interim President and Chief Executive
Officer, the Board approved the following changes to Mr. Worth&rsquo;s compensation arrangements: (a) during each month, or portion
thereof, of service as Interim President and Chief Executive Officer, Mr. Worth received an additional fee of $20,000 per month
(prorated for partial months of service and retroactive to August 2, 2021); (b) the additional fee was increased from $20,000 per
month to $50,000 per month effective October 1, 2021; and (c) the grant of 15,000 PSUs, which <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">vested
on December 31, 2021, subject to the achievement of strategic performance goals relating to product strategy development, identification
of cost savings and Mr. Worth&rsquo;s continued service. The Management Development and Compensation Committee after review of
Mr. Worth&rsquo;s performance determined these objectives where achieved.</FONT> </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="background-color: white">The
terms of Mr. Worth&rsquo;s compensation for his role as Interim Chief Financial Officer and his role as Interim Chief Executive
Officer was determined based on a review of market data, the Company&rsquo;s historical compensation practices and benchmarking
data provided by Pay Governance.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">On April 4, 2022, the Company and Mr. Worth reached an agreement regarding Mr. Worth&rsquo;s departure
from the Company after six years of service. Mr. Worth&rsquo;s last day of employment was April 8, 2022. In connection with his
departure, Mr. Worth is eligible to receive the following severance benefits, subject to the execution and non-revocation of a
general release and waiver of claims: (a) an amount equal to (i) one year of Mr. Worth&rsquo;s current base salary and (ii) 100%
of Mr. Worth&rsquo;s current annual incentive compensation target, together totaling $616,011, less applicable taxes and withholding
deductions, and (b) subject to Mr. Worth&rsquo;s timely election for COBRA continuation coverage, continued participation by Mr.
Worth and his eligible dependents in the Company&rsquo;s group health plans at the same rates as active employees for 12 months.
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr. Worth&rsquo;s severance was based on his performance
in serving as Interim Chief Financial Officer and Interim Chief Executive Officer and his efforts in initiating the strategic business
and operational review.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><I>John W. Bosshart. </I><FONT STYLE="background-color: white">On
August 4, 2021, in connection with Mr. Worth&rsquo;s appointment as Interim President and Chief Executive Officer, the Company
announced the appointment of John W. Bosshart as Interim Chief Financial Officer and Treasurer, effective August 2, 2021.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><I>Jan Kees van Gaalen.
E</I><FONT STYLE="background-color: white">ffective October 5, 2021, the Board appointed Mr. van Gaalen to assume the roles of
Interim Chief Financial Officer and Treasurer</FONT>. I<FONT STYLE="background-color: white">n connection with Mr. van Gaalen&rsquo;s
appointment as Interim Chief Financial Officer and Treasurer, he has entered into an interim services agreement (the &ldquo;<B><I>Services
Agreement</I></B>&rdquo;) with the Company. The Services Agreement provides that, for the duration of Mr. van Gaalen&rsquo;s tenure
as Interim Chief Financial Officer and Treasurer, Mr. van Gaalen will be entitled to compensation at a rate of $60,000 per month.&nbsp;
The terms of Mr. van Gaalen&rsquo;s compensation for his role as Interim Chief Financial Officer was determined based on a review
of market data, the Company&rsquo;s historical compensation practices and benchmarking data provided by Pay Governance.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white; text-align: justify"><FONT STYLE="background-color: white"><I>Matthew
Moynahan. </I>On November 15, 2021, the Company announced that on November 11, 2021, the Board appointed Mr. Moynahan as the Company&rsquo;s
President and Chief Executive Officer, effective November 29, 2021. </FONT>In connection with his appointment as President and
Chief Executive Officer, Mr. Moynahan entered into an employment agreement (the &ldquo;<B><I>Moynahan Employment Agreement</I></B>&rdquo;)
memorializing the terms of his employment. The Moynahan Employment Agreement provides that Mr. Moynahan will receive an annual
base salary of $500,000 and will be eligible to participate in the Company&rsquo;s annual cash bonus plan with an annual target
bonus amount equal to $500,000. The Moynahan Employment Agreement also provides that Mr. Moynahan will be eligible to participate
in the Company&rsquo;s long-term equity incentive plan, and commencing in 2022, he will be entitled to receive an annual long-term
equity incentive grant with a value of at least $2,500,000. For 2022, the Moynahan Employment Agreement provides that Mr. Moynahan&rsquo;s
annual long-term equity incentive grant will consist 50% of time-based RSUs, vesting semi-annually over three years, and 50% of
PSUs, vesting annually over three years subject to the achievement of applicable performance measures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white; text-align: justify">In addition, the
Moynahan Employment Agreement provided that Mr. Moynahan would receive a special one-time long-term equity incentive grant in connection
with his commencing employment with the Company, consisting of 250,000 RSUs (the &ldquo;<B><I>Special RSU Grant</I></B>&rdquo;)
and 250,000 PSUs (the &ldquo;<B><I>Special PSU Grant</I></B>&rdquo;). The Special RSU Grant will vest in equal annual installments
over four years, subject generally to Mr. Moynahan&rsquo;s continued employment with the Company. The Special PSU Grant will vest
upon the Company&rsquo;s common stock attaining a specified 45-trading day average closing price (&ldquo;<B><I>Average Closing
Price</I></B>&rdquo;) during a four-year measurement period (the &ldquo;<B><I>Performance Period</I></B>&rdquo;), as follows: 45%
of the Special PSU Grant (the &ldquo;<B><I>First PSU Tranche</I></B>&rdquo;) will vest upon the Company&rsquo;s common stock attaining
an Average Closing Price of at least $30.00 per share, and the remaining 55% of the Special PSU Grant (the &ldquo;<B><I>Second
PSU Tranche</I></B>&rdquo;) will vest upon the Company&rsquo;s common stock attaining an Average Closing Price of at least $40.00
per share or higher. If, at the time of the expiration of the Performance Period, the First PSU Tranche has vested but the Second
PSU Tranche has not vested (<I>i.e.</I>, due to the Company&rsquo;s common stock not attaining an Average Closing Price of at least
$40.00 per share), Mr. Moynahan will be entitled to a portion of the Second PSU Tranche based on a linear interpolation between
$30.00 and $40.00 for the highest Average Closing Price achieved during the Performance Period. In addition, the Employment Agreement
provides that if Mr. Moynahan&rsquo;s employment with the Company terminates prior to the end of the Performance Period due to
a termination by the Company without &ldquo;cause&rdquo; or a resignation by Mr. Moynahan for &ldquo;good reason&rdquo; (as each
such term is defined in the Moynahan Employment Agreement) (a &ldquo;<B><I>Qualifying Termination</I></B>&rdquo;) and the Special
PSU Grant has not yet fully vested, there will be an additional 18-month vesting period extension during which the Special PSU
Grant would continue to be eligible to vest upon achievement of the Average Closing Price goals (but subject to proration based
on the period of time that Mr. Moynahan is employed during the Performance Period).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white; text-align: justify">Pursuant to the
Moynahan Employment Agreement, in the event of a &ldquo;Change in Control&rdquo; (as such term is defined in the 2019 Omnibus Incentive
Plan) during the Performance Period, then subject generally to Mr. Moynahan&rsquo;s remaining continuously employed through the
date of such Change in Control: (i) if the applicable per share consideration for the Company&rsquo;s common stock in such Change
in Control is less than $30.00, the First PSU Tranche will vest in full; (ii) if the applicable per share consideration for the
Company&rsquo;s common stock in such Change in Control is between $30.00 and $40.00, the First PSU Tranche will vest in full, and
Mr. Moynahan will be entitled to a portion of the Second PSU Tranche based on the application of linear interpolation between $30.00
and $40.00; and (iii) if the applicable per share consideration for the Company&rsquo;s common stock in such Change in Control
is $40.00 or greater, both the First PSU Tranche and the Second PSU Tranche will vest in full. Any PSU from the Special PSU Grant
that does not vest in connection with a Change in Control as described in the prior sentence will be forfeited.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white; text-align: justify">The Employment
Agreement further provides that in the event of a Qualifying Termination, Mr. Moynahan would be eligible to receive the following
severance benefits, subject to the execution and non-revocation of a general release and waiver of claims: (i) an amount equal
to 12 months of Mr. Moynahan&rsquo;s then-current base salary; (ii) an amount equal to Mr. Moynahan&rsquo;s then-current annual
incentive compensation target; and (iii) subject to Mr. Moynahan&rsquo;s timely election for COBRA continuation coverage, continued
participation by Mr. Moynahan and his eligible dependents in the Company&rsquo;s group health plans at the same rates as active
employees for 12 months. In addition, the Employment Agreement includes customary confidentiality obligations and customary non-competition,
non-solicitation and business non-interference covenants that will continue in effect for 12 months following a termination of
employment for any reason.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="background-color: white">The
terms of Mr. Moynahan&rsquo;s compensation for his role as Chief Executive Officer was determined based on a review of market data,
the Company&rsquo;s historical compensation practices and input from Pay Governance.</FONT></P>

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


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<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><A NAME="ospndef14a060822a030"></A>2021 SUMMARY COMPENSATION TABLE</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-indent: 0.5in">The following table provides selected information
concerning compensation during the fiscal year ended December&nbsp;31, 2021 and, to the extent required by SEC disclosure rules,
the fiscal years ended December 31, 2020 and 2019 for services in all capacities to OneSpan by the NEOs.<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP></SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&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: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&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">&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">&nbsp;</TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: black; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Name and Principal Position</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Year</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Salary&nbsp;(1)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Bonus</B></P></TD>
    <TD STYLE="vertical-align: bottom; background-color: black"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: White"><B>Stock<BR>
    Awards&nbsp;(2)&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="color: White"><B>Non-Equity</B></FONT><B><BR>
    <FONT STYLE="font-size: 10pt; color: white">Incentive Plan<BR>
 Compensation (3)</FONT></B></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>All Other</B></FONT><BR>
<FONT STYLE="font-size: 10pt; color: white"><B>Compensation&nbsp;(4)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Total</B></FONT></TD>
    </TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black"><B>Matthew Moynahan (5)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">President and Chief Executive Officer</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">45,513</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">8,400,000(6)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">69</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">8,445,582</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black"><B>Jan Kees van Gaalen (5)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">Interim Chief Financial Officer</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$180,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">$<FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">0<FONT STYLE="font-size: 10pt; color: black"></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">$<FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">0<FONT STYLE="font-size: 10pt; color: black"></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">$<FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">0<FONT STYLE="font-size: 10pt; color: black"></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">180,000</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black"><B>Steven R. Worth (5)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: black">General Counsel</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">526,091</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: black">$</FONT></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">0&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">1,137,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">240,000&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">10,527</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">1,913,618</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Scott&nbsp;M. Clements</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Former President and Chief Executive Officer</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">480,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">3,040,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">971,559</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">4,491,559</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">480,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">3,040,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">235,200</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">11,007</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">3,766,207</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2019</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">465,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,990,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">567,300</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">10,832</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">3,033,132</FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Mark&nbsp;S. Hoyt</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Former Executive Vice President, Treasurer and Chief Financial Officer</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center"><FONT STYLE="font-size: 10pt">2021 </FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center"><FONT STYLE="font-size: 10pt">380,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center">$<FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">0</P>

</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center"><FONT STYLE="font-size: 10pt">1,285,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center">$<FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center">0<FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center"><FONT STYLE="font-size: 10pt">11,079</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center"><FONT STYLE="font-size: 10pt">1,676,079</FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2020</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">380,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,285,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">139,650</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">10,527</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,815,177</FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">370,000</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">915,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">335,500</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">10,352</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">1,630,852</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>John Bosshart (5)</B></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: top">&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">&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">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Former Chief Financial Officer</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">2021</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">340,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">320,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">136,000</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">10,527</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">806,527</FONT></TD></TR>
<TR>
    <TD STYLE="width: 22%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    </TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Salary represents base salary earned in the fiscal year indicated. With respect to Mr. van Gaalen, the salary represents the monthly payment of $60,000 for his service during the year as Interim Chief Financial Officer.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The amounts reflected represent the aggregate grant date fair value of awards computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation&mdash;Stock Compensation (&ldquo;FASB ASC Topic 718&rdquo;) and based on the probable outcome of the performance conditions with respect to PSUs. Assuming the highest level of performance is achieved for the 2021 PSUs, the maximum value of the 2021 PSUs would be as follows: Mr. Worth - $900,046; Mr. Clements &ndash; $3,648,063; and Mr. Hoyt &ndash; $1,542,070. For Mr. Moynahan&rsquo;s PSUs, under FASB ASC Topic 718, the vesting condition related to his PSUs is considered a market condition and not a performance condition. Accordingly, there is no grant date fair value below or in excess of the amount reflected in the table above for Mr. Moynahan that could be calculated and disclosed based on achievement of the underlying market condition.&nbsp;&nbsp;&nbsp;See footnote 14 to the financial statements in our Annual Report for a discussion of the relevant assumptions used in calculating these amounts.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Amounts reported in this column for 2021 represent annual bonuses paid to Messrs. Worth and Bosshart with
respect to the fiscal year ended December 31, 2021, as described in the &ldquo;Annual Cash Bonus&rdquo; section on page 54.&nbsp;&nbsp;None
of our other NEOs received an annual bonus for 2021. </FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The NEOs&rsquo; &ldquo;All Other Compensation&rdquo; for 2021 consisted of:</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9679;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Moynahan received no matching 401K contributions
in 2021 and $69 in imputed income from life insurance premiums made by the Company.&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;&nbsp;</TD>
    <TD STYLE="text-align: justify">Mr.&nbsp;Clements&mdash;Company matching 401(k) contributions
of $10,527 and imputed income from life insurance premiums made by the Company of $1,032. Upon his separation, Mr. Clements received
a severance payment of $960,000.&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Mr.&nbsp;Hoyt&mdash;Company matching 401(k) contributions of
        $10,527 and imputed income from life insurance premiums made by the Company of $552. Mr. Hoyt resigned from his position on June
        9, 2021 and forfeited any additional compensation.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Mr.&nbsp; Worth&mdash;Company matching
401(k) contributions of $9,975 and imputed income from life insurance made by the Company of $552.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Mr.&nbsp; Bosshart&mdash;Company
matching 401(k) contributions of $9,975 and imputed income from life insurance premiums made by the Company of $552.</TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(5)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This NEO was not a NEO prior to 2021.&nbsp;</P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(6)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amounts reported in this column represent the value of awards related to long-term equity, the Special
PSU Grant and the Special RSU Grant as described in Mr. Moynahan&rsquo;s agreement. The agreement provides that Mr. Moynahan will
be eligible to participate in the Company&rsquo;s long-term equity incentive plan, and commencing in 2022, he will be entitled
to receive an annual long-term equity incentive grant with a value of at least $2,500,000. For 2022, the provides that Mr. Moynahan&rsquo;s
annual long-term equity incentive grant will consist 50% of time-based RSUs, vesting semi-annually over three years, and 50% of
PSUs, vesting annually over three years subject to the achievement of applicable performance measures. In addition, the agreement
provided that Mr. Moynahan would receive a special one-time long-term equity incentive grant in connection with his commencing
employment with the Company, consisting of 250,000 RSUs (the &ldquo;Special RSU Grant&rdquo;) and 250,000 PSUs (the &ldquo;Special
PSU Grant&rdquo;). The Special RSU Grant will vest in equal annual installments over four years, subject generally to Mr. Moynahan&rsquo;s
continued employment with the Company. The Special PSU Grant will vest upon the Company&rsquo;s common stock attaining a specified
45-trading day average closing price during a four-year measurement period. For further details, see the full description of Mr.
Moynahan&rsquo;s agreement in the Management Transition section above.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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


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


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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a031"></A>2021
Grants of Plan-Based Awards</B></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; text-indent: 0.5in; text-align: justify">The following table
sets forth all plan-based awards granted to the NEOs during 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&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">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" 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">&nbsp;</TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>All&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Grant</B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Estimated&nbsp;Future&nbsp;Payouts</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Other</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Date</B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Estimated&nbsp;Future&nbsp;Payouts&nbsp;Under</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Under&nbsp;Equity&nbsp;Incentive&nbsp;Plan</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Stock</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Fair</B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Non-Equity&nbsp;Incentive&nbsp;Plan&nbsp;Awards&nbsp;(2)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Awards&nbsp;(3)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Awards:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Value&nbsp;of</B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Grant</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Threshold</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Target</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Maximum</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Threshold</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Target</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Maximum</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Units</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Stock</B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Name </B></FONT><FONT STYLE="font-size: 10pt; color: White"><SUP>(1)</SUP></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Date</B></FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>($)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>($)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>($)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(#)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(#)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(#)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(#)&nbsp;(4)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Units (5)</B></FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Matthew P. Moynahan</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">11/29/21</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">112,500</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">250,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">$4,200,000</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">11/29/21</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">250,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">$4,200,000</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Steven R. Worth</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>&nbsp;&nbsp;&nbsp;</B>&nbsp;&nbsp;&nbsp;</FONT><BR>
<BR></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">200,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">400,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">800,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">2/18/21</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">9,349</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">17,436</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">34,872</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">$450,000</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">8/25/21</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">15,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">$387,000</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">2/18/21</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">11,624</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">$300,000</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Scott&nbsp;M. Clements</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD ROWSPAN="3" STYLE="vertical-align: top; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">240,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">480,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">960,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2/18/21</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">35,339</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">70,671</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">141,343</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">1,824,000</FONT></TD></TR>
<TR STYLE="background-color: #D0CECE">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2/18/21</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">47,114</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">1,216,000</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Mark&nbsp;S. Hoyt</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD ROWSPAN="6" STYLE="vertical-align: top; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">142,500</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">285,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">570,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2/18/21</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">14,939</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">29,873</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">59,747</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">771,000</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2/18/21</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">19,915</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">514,000</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-left: 5.4pt; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>John Bosshart</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">$</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">85,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">170,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">340,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-left: 5.4pt; vertical-align: bottom"><BR>
<FONT STYLE="font-size: 10pt">Former Interim Chief Financial Officer</FONT><BR>
<BR></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;6/1/21</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">5,691</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">150,000</FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;6/1/21</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2,580</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">68,000</FONT></TD></TR>
<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;6/1/21</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">1,935</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">3,870</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">7,740</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">102,000</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 6%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 7%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As an independent contractor, Mr. van Gaalen does not receive
        plan-based awards.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Represents the threshold, target and maximum award amounts that could have been paid out as a cash bonus award under OneSpan&rsquo;s annual cash incentive award program for performance in 2021 upon achievement of certain target financial levels for the year. The target award amounts are based on percentages of each NEO&rsquo;s base salary at the beginning of the year.&nbsp;&nbsp;Messrs. Clements and Hoyt forfeited their bonuses in connection with their departures.&nbsp;&nbsp;Mr. Moynahan did not participate in the 2021 annual bonus program in light of the timing of his commencement of employment. Additional information regarding the annual cash incentive compensation and the applicable metrics is provided above in &ldquo;Compensation Discussion and Analysis&rdquo; in the section entitled &ldquo;Annual Cash Bonus&rdquo; on page 54.&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Represents PSU grants based on the achievement of performance goals. With respect to the February 2021 PSU grants, if the Management Development and Compensation Committee determines that the financial targets are met, then the stock vests in full at the end of 2023.&nbsp;&nbsp;With aspect to Mr. Moynahan&rsquo;s PSU grant, if the Management Development and Compensation Committee determines that the stock price targets are met, then the stock vests in full following the fourth anniversary of the grant date.&nbsp;&nbsp;In the case of Mr. Worth&rsquo;s August 2021 grant, <FONT STYLE="background-color: white">these PSUs were scheduled to cliff vest on December 31, 2021, subject to the achievement of strategic performance goals relating to product strategy, diagnostic work and cost savings and Mr. Worth&rsquo;s continued service.</FONT> &nbsp;Additional information regarding the three-year performance-based stock grants and the applicable metrics is provided above in &ldquo;Compensation Discussion and Analysis&rdquo; in the section entitled &ldquo;Long-Term Equity Compensation&rdquo; and &ldquo;Management Transition.&rdquo; The PSUs for Scott Clements and Mark Hoyt were forfeited upon separation from the Company.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Represents RSU grants that vest semi-annually over four years, subject to the NEO&rsquo;s continued employment through the applicable vesting date. The RSUs for Scott Clements and Mark Hoyt were forfeited upon separation from the Company.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The grant date fair value is computed in accordance with FASB ASC Topic&nbsp;718 and reflects the value of the RSUs and PSUs on the date the award was granted and, in the case of the PSUs, based on the probable achievement of the performance conditions at the time of grant. See footnote 14 to the financial statements in our Annual Report for a discussion of the relevant assumptions used in calculating these amounts.</FONT></TD></TR>
</TABLE>


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


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<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><A NAME="ospndef14a060822a032"></A>OUTSTANDING EQUITY AWARDS AT 2021 FISCAL
YEAR-END</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-indent: 0.5in; text-align: justify">The following table
sets forth the aggregate number of outstanding equity awards held by the NEOs as of December&nbsp;31, 2021. There were no stock
option awards outstanding as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&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">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; background-color: black; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="vertical-align: bottom; background-color: black">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Stock&nbsp;Awards<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP></SUP></FONT></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"></P></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: black; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Number of Shares</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Market&nbsp;Value&nbsp;of</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Equity Incentive Plan Awards: Number of Unearned&nbsp;Shares</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Equity Incentive Plan Awards: Market Value of Unearned Shares</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: black; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>That&nbsp;Have&nbsp;Not</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Shares&nbsp;That</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>That&nbsp;Have&nbsp;Not</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>That&nbsp;Have&nbsp;Not</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: black; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Vested</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Have&nbsp;Not&nbsp;Vested</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Vested</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Vested</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: black; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Name</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Grant Date</B></FONT></TD>
    <TD STYLE="vertical-align: top; background-color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(#)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: black; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>($)(1)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>(#)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: black; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>($)(1)</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Matthew P. Moynahan</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: #D0CECE; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; padding-right: 5.4pt; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: #D0CECE; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; padding-right: 5.4pt; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">11/29/2021</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #D0CECE"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">250,000</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">4,232,500</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">11/29/2021</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #D0CECE; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;112,500</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE"><FONT STYLE="font-size: 10pt">&nbsp;$</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D0CECE; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,904,625</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Jan Kees van Gaalen (4)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; 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; padding-right: 5.4pt; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Steven R. Worth</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">1/4/2018 </FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">1,487</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">25,175</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">6/12/2019</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: top; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">5,479</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: top; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">92,759</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">8/1/2019</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">(7)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: top; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;21,914</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: top; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">358,814</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">5/1/2020</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">(8)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: top; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">11,778</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: top; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">199,402</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">6/1/2020</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">(9)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">14,134</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">239,289</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">2/18/2021</FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">(10)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">10,171</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">172,195</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">2/18/2021 </FONT></TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">(11)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">17,436</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">295,191</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Scott M. Clements (12)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 5.4pt; vertical-align: bottom">&mdash;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 5.4pt; vertical-align: bottom">&mdash;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="background-color: #BFBFBF; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Mark S. Hoyt (12)</B></FONT></TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF">&mdash;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF">&mdash;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; background-color: #BFBFBF; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #BFBFBF; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF; padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="background-color: #BFBFBF; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF">&nbsp;</TD>
    <TD STYLE="background-color: #BFBFBF; padding-right: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>John Bosshart</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">11/23/2020 </FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(13)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">5,269</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">89,204</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">6/1/2021</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(14)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">4,269</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">72,274</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">6/1/2021</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(15)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">2,258</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">38,228</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">6/1/2021</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(16)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">1,290</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">21,840</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; width: 12%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Market value calculated based on the closing stock price of $16.93 as of December 31, 2021. </FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">With respect to these RSUs awarded on November 29, 2021, the unvested portion will vest in substantially equal installments on each November 29 through and including November 29, 2025, subject to the NEO&rsquo;s continued employment through each applicable vesting date</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">PSUs that would be earned and vest upon achievement of financial targets for the four-year period ending November 29, 2025. </FONT><BR>
<FONT STYLE="font-size: 10pt">In accordance with the SEC&rsquo;s executive compensation disclosure rules, the amounts reported with respect to these awards are based </FONT><BR>
<FONT STYLE="font-size: 10pt">on achieving threshold performance.</FONT></TD>
    </TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">As an interim executive, Jan Kees van Gaalen received no equity compensation for his service during the year ended December 31, 2021.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">With respect to these RSAs awarded on January 4, 2018, the award fully vested on January 4, 2022.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">With respect to these RSUs awarded on June 12, 2019, the unvested portion will vest in substantially equal semi-annual installments on each June 12 and December 12 through and including December 12, 2023, subject to the NEO&rsquo;s continued employment through each applicable vesting date. The unvested portion of the award was forfeited upon Mr. Worth&rsquo;s April 2022 separation from the Company.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(7)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">PSUs that would be earned and vest upon achievement of financial targets for the three-year period ending December&nbsp;31, 2021. In accordance with the SEC&rsquo;s executive compensation disclosure rules, the amounts reported with respect to these awards are based on achieving target performance. In the first quarter of 2022, the Compensation Committee determined that the performance criteria were partially met, with 66% of the target shares earned.</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(8)</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With respect to these RSUs awarded on May 1, 2020,
the unvested portion will vest in substantially equal semi-annual installments on each May 1 and November 1 through and including
May 1, 2024, subject to the NEO&rsquo;s continued employment through each applicable vesting date. The unvested portion of the
award was forfeited upon Mr. Worth&rsquo;s April 2022 separation from the Company.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(9)</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">PSUs that would be earned and vest upon achievement of financial
        targets for the three-year period ending December&nbsp;31, 2022. In accordance with the SEC&rsquo;s executive compensation disclosure
        rules, the amounts reported with respect to these awards are based on achieving threshold performance. The unvested portion of
        the award was forfeited upon Mr. Worth&rsquo;s April 2022 separation from the Company.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(10)</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">With respect to these RSUs awarded on February 18, 2021, the unvested portion will vest in substantially equal semi-annual
        installments on each February 18 and August 18 through and including February 18, 2025, subject to the NEO&rsquo;s continued employment
        through each applicable vesting date. The unvested portion of the award was forfeited upon Mr. Worth&rsquo;s April 2022 separation
        from the Company.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(11)</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">PSUs that would be earned and vest upon achievement of
        financial targets for the three-year period ending December&nbsp;31, 2023. In accordance with the SEC&rsquo;s executive compensation
        disclosure rules, the amounts reported with respect to these awards are based on achieving threshold performance.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(12)</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Scott M. Clements and Mark S. Hoyt forfeited all outstanding equity awards upon their respective employment terminations
during the year ended December 31, 2021.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(13)</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">With respect to these RSUs awarded on November 23, 2020,
        the unvested portion will vest in substantially equal installments on each May 23, 2022 and November 23, 2022, subject to Mr. Bosshart&rsquo;s
        continued employment through each applicable vesting date.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(14)</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">With respect to these RSUs awarded on June 1, 2021, the unvested portion will vest in substantially equal installments on
        each March 1, June 1, and September 1 through and including June 1, 2023, subject to Mr. Bosshart&rsquo;s continued employment
        through each applicable vesting date.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(15)</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">With respect to these RSUs awarded on June 1, 2021, the unvested portion will vest in substantially equal installments on
        each June 1, and December 1 through and including June 1, 2025, subject to Mr. Bosshart&rsquo;s continued employment through each
        applicable vesting date.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(16) </TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">PSUs that would be earned and vest upon achievement of financial targets for the three-year period ending December&nbsp;31,
        2023. In accordance with the SEC&rsquo;s executive compensation disclosure rules, the amounts reported with respect to these awards
        are based on achieving threshold performance.</TD></TR>
</TABLE>


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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a033"></A>2021
Stock Vested</B></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; text-indent: 0.5in; text-align: justify">The following table
sets forth stock awards vested in the year ended December&nbsp;31, 2021 held by the NEOs. None of our NEOs held options during
2021.&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 74%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="4">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Stock&nbsp;Awards</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Number&nbsp;of</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Shares</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Value</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Acquired&nbsp;on</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Realized&nbsp;on</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Name</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Vesting</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Vesting</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Matthew Moynahan</FONT><BR>
<BR>
</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Jan Kees van Gaalen</FONT><BR>
<BR>
</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&mdash;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Steven Worth</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">48,692</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: right"><FONT STYLE="font-size: 10pt">895,440</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Scott Clements</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">43,121</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: right"><FONT STYLE="font-size: 10pt">1,009,543</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mark S. Hoyt</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">15,954</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 2pt; text-align: right"><FONT STYLE="font-size: 10pt">369,801</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John Bosshart</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7,013</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="padding-right: 2pt; text-align: right"><FONT STYLE="font-size: 10pt">142,555</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a034"></A>Potential
Payments Upon Termination or Change-in-Control</B></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; text-indent: 0.5in; text-align: justify">During 2021, our NEOs other than Mr. Bosshart
were subject to employment agreements governing the terms of their employment and severance rights. Mr. Bosshart was an at-will
employee and not a party to an employment agreement as of December 31, 2021.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 29px; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Matthew Moynahan</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></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">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Moynahan&rsquo;s employment
agreement was entered into effective November 29, 2021. Under the terms of his employment agreement, in the event Mr. Moynahan
is terminated without cause or terminates his employment for good reason, he will continue to receive his base salary over a 12-month
period and his target cash bonus amount for such&nbsp;year (and the bonus amount for the prior year if earned but not paid at
the time of termination). If such a termination occurs within 12 months following a change in control of OneSpan, then he will
receive the amounts described in the preceding sentence in a lump sum payment. If Mr. Moynahan is terminated for cause or terminates
his employment without good reason, he will not be entitled to any severance compensation. Mr. Moynahan has agreed to abide by
several non-competition and non-solicitation restrictions following the termination of his employment for a period of 12 months.&nbsp;</P></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">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Scott&nbsp;M. Clements</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 2.4pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 2.4pt; text-align: justify">Mr.&nbsp;Clements&rsquo; separated
from the company on August 2, 2021. Under the terms of his separation agreement and in exchange for signing the separation agreement
and releasing claims against the Company, Mr.&nbsp;Clements received a separation payment in the gross amount of $960,000, payable
in equal installments over a 12-month period after August 2, 2021. As stated in his employment agreement entered into effective
December&nbsp;1, 2015, and was amended on November&nbsp;15, 2016 and on July&nbsp;28, 2017, Mr.&nbsp;Clements has agreed to abide
by several non-competition and non-solicitation restrictions following the termination of his employment for a period of 12 months.
Mr. Clements did not receive any accelerated vesting, nor did he opt for subsided COBRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 2.4pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 29px; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Mark&nbsp;S. Hoyt</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Mr.&nbsp;Hoyt&rsquo;s resigned from his role as Chief
Financial Officer effective June 9, 2021. As Mr.&nbsp;Hoyt voluntarily resigned from his position, he was not entitled to any severance
compensation. Mr.&nbsp;Hoyt has agreed to abide by several non-competition restrictions following the termination of his employment
for a period of 12 months.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 29px; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Steven R. Worth</I></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">&nbsp;</TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Worth&rsquo;s employment agreement
was entered into effective April 18, 2016 and was amended on June 9, 2021 and on August 2, 2021. Under the terms of his employment
agreement, in the event Mr. Worth was terminated without cause or resigned for good reason, he would continue to receive his base
salary over a 12-month period and his target cash bonus amount for such year (and the bonus amount for the prior year if earned
but not paid at the time of termination). If such a termination occurred within eighteen months following a change in control
of OneSpan, then he would receive the amounts described in the preceding sentence in a lump sum payment. If Mr. Worth was terminated
for cause or resigned without good reason, he would not be entitled to any severance compensation. Mr. Worth has agreed to abide
by several non-compete and non-solicit restrictions following the termination of his employment for a period of twelve months.&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

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

<!-- Field: Page; Sequence: 3; Value: 64 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><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; text-align: justify">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 19px">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 29px">&nbsp;</TD>
    <TD STYLE="text-align: justify">         <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As compensation for serving as
Interim Chief Financial Officer for the period of June 9, 2021 through August 2, 2021, Mr. Worth received and additional fee of
$20,000 per month for the term he held the Interim Chief Financial Officer position. This additional fee was increased to $50,000
per month for the period of August 3, 2021 through November 29, 2021, as compensation for serving as Interim Chief Executive Officer.</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">Mr. Worth&rsquo;s separated from
the company on April 8, 2022. Under the terms of his separation agreement, Mr.&nbsp;Worth received a separation payment in the
gross amount of $616,011 which shall be paid in equal installments over a 12-month period after April 8, 2022 and an amount equal
to his target bonus plan under the Company&rsquo;s 2022 annual bonus plan of $250,000. Mr. Worth forfeited all outstanding equity
as of the date of his separation. As stated in his employment agreement, Mr.&nbsp;Worth has agreed to abide by several non-competition
and non-solicitation restrictions following the termination of his employment for a period of 12 months.&nbsp;</P></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">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Jan Kees van Gaalen</I></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">&nbsp;</TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. van Gaalen joined the Company
under a Consulting Agreement effective October 5, 2021. Under the terms of this agreement, in the event of any termination, all
payments under the agreement will continue through the date of termination.&nbsp;</P></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>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The following paragraphs and tables describe
the potential payments and benefits to which the NEOs would be entitled from the Company pursuant to their employment agreements
in effect on December&nbsp;31, 2021 and the Company&rsquo;s compensation and benefit plans upon termination of employment, if such
termination had occurred as of December&nbsp;31, 2021, or upon a change in control of the Company, if such change in control had
occurred as of December&nbsp;31, 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">For purposes of the following table, and
its footnotes, all terms used with respect to events of termination or change in control shall have the following meanings unless
otherwise indicated:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>&ldquo;Cause&rdquo;</I></B> under Mr.&nbsp;Moynahan&rsquo;s employment agreements in effect on December&nbsp;31, 2021 means: (i)&nbsp;he materially breaches his obligations under the employment agreement, OneSpan&rsquo;s Code of Conduct and Ethics or an established policy of the Company; (ii)&nbsp;he engages in conduct prohibited by law (other than minor violations), commits an act of dishonesty, fraud or serious or willful misconduct in connection with his job duties, or engages in unethical or immoral conduct that, in the reasonable judgment of the Management Development and Compensation Committee, could injure the integrity, character or reputation of the Company; (iii)&nbsp;he fails or refuses to perform or habitually neglects, his duties and responsibilities under the agreement (other than on account of disability) and continues such failure, refusal or neglect after having been given written notice by the Company that specifies what duties he failed to perform and an opportunity to cure of 10&nbsp;days; (iv)&nbsp;he uses or discloses confidential information or trade secrets other than in the furtherance of the Company&rsquo;s business interests, or other violation of a fiduciary duty to the Company; or (v)&nbsp;he fails to reasonably cooperate with any audit or investigation involving the Company or its business practices after having been given written notice by the Company that specifies his failure to cooperate and an opportunity to cure of five&nbsp;days.</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">&#9679;</TD>
    <TD STYLE="text-align: justify">&ldquo;<B><I>Good Reason</I></B>&rdquo; under Mr. Moynahan&rsquo;s employment agreements in
    effect on December&nbsp;31, 2021 means: &nbsp; </TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 144px"></TD><TD STYLE="width: 28px; text-align: left">(i)</TD><TD STYLE="text-align: justify">failure to provide the compensation and benefits required
by the Agreements;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 144px"></TD><TD STYLE="width: 28px; text-align: left">(ii)</TD><TD STYLE="text-align: justify">a reduction in the NEO&rsquo;s base salary below the
base salary in effect during the immediately preceding year, unless such reduction is commensurate with and part of a general
salary reduction program applicable to all senior executives of the Company (not to exceed 20%) or agreed to in writing by the
NEO;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 144px"></TD><TD STYLE="width: 28px; text-align: left">(iii)</TD><TD STYLE="text-align: justify">any material diminution of the NEO&rsquo;s authority,
duties or responsibilities; or</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 144px"></TD><TD STYLE="width: 28px; text-align: left">(v)</TD><TD STYLE="text-align: justify">a material breach by the Company of any of its material
obligations under the agreement.</TD>
</TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Cause</I></B>&rdquo; under Messrs. Clements&rsquo;, Hoyt&rsquo;s and Worth&rsquo;s employment agreements in effect on December&nbsp;31, 2021 means: (i)&nbsp;he materially breaches his obligations under the employment agreement, OneSpan&rsquo;s Code of Conduct and Ethics or an established policy of the Company; (ii)&nbsp;he engages in conduct prohibited by law (other than minor violations), commits an act of dishonesty, fraud or serious or willful misconduct in connection with his job duties, or engages in unethical or immoral conduct that, in the reasonable judgment of the Management Development and Compensation Committee, could injure the integrity, character or reputation of the Company; (iii)&nbsp;he fails or refuses to perform or habitually neglects, his duties and responsibilities under the agreement (other than on account of disability) and continues such failure, refusal or neglect after having been given written notice by the Company that specifies what duties he failed to perform and an opportunity to cure of 30&nbsp;days; (iv)&nbsp;he uses or discloses confidential information or trade secrets other than in the furtherance of the Company&rsquo;s business interests, or other violation of a fiduciary duty to the Company; or (v)&nbsp;he fails to reasonably cooperate with any audit or investigation involving the Company or its business practices after having been given written notice by the Company that specifies his failure to cooperate and an opportunity to cure of 10&nbsp;days.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Good Reason</I></B>&rdquo; under Messrs. Clements&rsquo;, Hoyt&rsquo;s and Worth&rsquo;s employment agreements in effect on December&nbsp;31, 2021 means:</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">failure to provide the compensation and benefits required by the Agreements;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a reduction in the NEO&rsquo;s base salary below the base salary in effect during the immediately preceding year, unless such reduction is commensurate with and part of a general salary reduction program applicable to all senior executives of the Company or agreed to in writing by the NEO;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">failure to appoint or elect the NEO as an officer according to his title (and director in the case of Mr. Clements);</FONT></TD></TR>
</TABLE>


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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any material diminution of the NEO&rsquo;s authority, duties or responsibilities (and no longer reporting to the Board in the case of Mr. Clements); or</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(v)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the Company requiring the NEO to be based at any office or location other than the office occupied by the NEO in Chicago, Illinois as of the effective date or a reasonably comparable office located within a 40-mile radius of such current office.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Change in Control</I></B>&rdquo; under Messrs. Moynahan&rsquo;s, Clements&rsquo;, Hoyts&rsquo; and Worth&rsquo;s employment agreements in effect on December&nbsp;31, 2021 and the 2019 Omnibus Incentive Plan generally means the occurrence of any of the following events: (i) certain acquisitions of beneficial ownership of more than 40% of either (x)&nbsp;the then outstanding shares of our Common Stock or (y)&nbsp;the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors; (ii) certain changes in the majority composition of our Board within any period of 12 consecutive months; (iii) the consummation of certain&nbsp;reorganizations or consolidations of the Company or the sale or other disposition of all or substantially all of the assets of the Company and its direct and indirect subsidiaries taken as a whole; or (iv) the approval by the stockholders of the Company of certain liquidations or dissolutions of the Company.</FONT></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; text-align: justify">The amounts in the table below as of December&nbsp;31,
2021 do not include payments and benefits to the extent that they are provided on a nondiscriminatory basis to full-time salaried
employees generally upon termination of employment. Such payments and benefits include accrued salary and vacation pay and distributions
of plan balances under the Company&rsquo;s 401(k) plan.<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP></SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Termination&nbsp;by&nbsp;company</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Termination&nbsp;by&nbsp;company</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>without&nbsp;Cause or by&nbsp;named</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>without&nbsp;Cause or by&nbsp;named</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>executive&nbsp;officer&nbsp;for&nbsp;Good</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>executive&nbsp;officer&nbsp;for&nbsp;Good</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Reason,&nbsp;without&nbsp;a&nbsp;Change</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Reason,&nbsp;following&nbsp;a</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>in&nbsp;Control</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Change&nbsp;in&nbsp;Control</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Matthew Moynahan</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Base salary (1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">500,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">500,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Annual cash bonus (2)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">500,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">500,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Restricted stock and restricted stock units (3)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4,097,500</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">4,097,500</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Performance awards (4)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4,097,500</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">4,097,500</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>9,195,000</B></FONT></TD>
    <TD><B>&nbsp;</B></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>9,195,000</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Jan Kees van Gaalen</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Interim Chief Financial Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Base salary (5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Annual cash bonus (5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Restricted stock and restricted stock units (5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Performance awards (5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>0</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>0</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Steven R. Worth<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP></SUP></FONT></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">&nbsp;Former Chief Financial Officer and Treasurer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Former Interim President and Chief President Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Former General Counsel, Chief Compliance Officer and Corporate Secretary</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Base salary (1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">366,011</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">366,011</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Annual cash bonus (2)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">250,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">250,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: #D0CECE; padding-right: 5.4pt; padding-left: 5.4pt; width: 65%"><FONT STYLE="font-size: 10pt">Restricted stock and restricted stock units (6)</FONT></TD>
    <TD STYLE="background-color: #D0CECE; width: 2%">&nbsp;</TD>
    <TD STYLE="background-color: #D0CECE; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: #D0CECE; text-align: right; width: 14%"><FONT STYLE="font-size: 10pt">--</FONT></TD>
    <TD STYLE="background-color: #D0CECE; width: 3%">&nbsp;</TD>
    <TD STYLE="background-color: #D0CECE; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: #D0CECE; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 14%"><FONT STYLE="font-size: 10pt">1,137,000</FONT></TD>
    <TD STYLE="background-color: rgb(208,206,206)">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Performance awards (7)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">--</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">404,122</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>616,011</B></FONT></TD>
    <TD><B>&nbsp;</B></TD>
    <TD><B>$</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>2,157,133</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">In the case of Mr.&nbsp;Moynahan and Mr.&nbsp;Worth, pursuant to their employment agreements, the NEO will continue to receive regular payments of his base salary, at the rate in effect at the time of termination, for 12&nbsp;months. In the case of Mr.&nbsp;Worth, when termination results from a termination without Cause or a termination for Good Reason by the NEO within 18 months following a Change in Control, the NEO instead will receive a lump sum payment of the severance amount. Each NEO is subject to certain non-competition and non-solicitation restrictions for a fixed period following his termination. </FONT></TD></TR>
</TABLE>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Upon a termination of Mr.&nbsp;Worth employment without Cause or a termination for Good Reason by Mr.&nbsp;Worth, he will receive an amount equal to his annual cash bonus target amount. </FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Represents the value of 250,000&nbsp;shares of restricted stock and RSUs held by Mr.&nbsp;Moynahan on December&nbsp;31, 2021, based on the closing price of our Common Stock listed on The Nasdaq Capital Market on December&nbsp;31, 2021 ($16.93 per share). Upon a Change in Control and a termination of employment under certain circumstances within one&nbsp;year after the Change in Control, <B>r</B>estricted stock and RSUs will vest in full. </FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: justify"><FONT STYLE="font-size: 10pt">Represents the value attributable to the accelerated vesting of performance awards held by Mr.&nbsp;Moynahan on December&nbsp;31, 2021, based on the closing price of our Common Stock listed on The Nasdaq Capital Market on December&nbsp;31, 2021 ($16.93 per share). Upon a Change in Control and a termination of employment under certain circumstances within one&nbsp;year after a Change in Control, performance awards will vest in full. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; text-align: justify"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As an independent contractor, Mr. van Gaalen is in
illegible for any to severance compensation.&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; text-align: justify"><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Represents the value of 30,469&nbsp;shares of restricted
stock and RSUs held by Mr.&nbsp;Worth on December&nbsp;31, 2021, based on the closing price of our Common Stock listed on The
Nasdaq Capital Market on December&nbsp;31, 2021 ($16.93 per share). Upon a Change in Control and a termination of employment under
certain circumstances within one&nbsp;year after the Change in Control, <B>r</B>estricted stock and RSUs awards will vest in full.&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; text-align: justify"><FONT STYLE="font-size: 10pt">(7)</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: justify"><FONT STYLE="font-size: 10pt">Represents the value attributable to the accelerated vesting of performance awards held by Mr.&nbsp;Worth on December&nbsp;31, 2021, based on the closing price of our Common Stock listed on The Nasdaq Capital Market on December&nbsp;31, 2021 ($16.93 per share). Upon a Change in Control and a termination of employment under certain circumstances within one&nbsp;year after a Change in Control, performance awards for which the performance period has not been completed will vest at the target (100%)&nbsp;level, pro-rated based on the number of&nbsp;days elapsed in the performance period. &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"><B>Compensation Risk Assessment</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-indent: 0.5in; text-align: justify">We conducted an assessment of the risks
associated with our compensation practices and policies and determined that risks arising from such policies and practices are
not reasonably likely to have a material adverse effect on the Company. In conducting the assessment, we undertook a review of
our compensation philosophies, our compensation governance structure and the design and oversight of our compensation programs.
Overall, we believe that our programs include an appropriate mix of fixed and variable features, and short- and long-term incentives
with compensation-based goals aligning with corporate goals. Centralized oversight helps ensure compensation programs align with
the Company&rsquo;s goals and compensation philosophies and, along with other factors, operate to mitigate against the risk that
such programs would encourage excessive risk-taking.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a035"></A>CEO
PAY RATIO</B></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; text-indent: 0.5in; text-align: justify">As required by Section 953(b) of the Dodd-Frank
Wall Street Reform and Consumer Protection Act, we must disclose annually in our proxy statement the median of the annual total
compensation of all employees (excluding the CEO), the annual total compensation of our CEO and the ratio of the CEO compensation
to the employee median compensation. We employ people in many countries in many different roles. We included all employees employed
by us on December 1, 2021 in our calculations.</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; text-align: justify">The annual total compensation of the median
employee was determined in the same manner as the total compensation for our CEO in the &ldquo;2021 Summary Compensation Table&rdquo;
above. We determined the required pay ratio as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Calculating the total annual cash compensation (base salary and cash bonus in 2021) of all employees except the CEO, and then sorting those employees from highest to lowest;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Determining the median employee from that list; and</FONT></TD></TR>
</TABLE>


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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Calculating the total annual compensation of our CEO and of the median employee using the same methodology required for the 2021 Summary Compensation Table, but in the case of our CEO, annualizing his base salary in light of his mid-year hire date.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">For the purposes of the calculation, Mr. Moynahan&rsquo;s annualized salary
and annualized life insurance premiums were used as the total CEO compensation.  The total annual compensation for our CEO
for 2021, as annualized as described above, was $8,900,118. The total annual compensation for the median employee was $90,900, which includes
any base salary, bonus, equity awards, long-term cash incentive awarded, overtime, contributions to pension plans, Company contributions
to defined contribution plans, Company paid car and imputed income from employee benefit insurance premiums made by the Company. The resulting
ratio of CEO pay to the pay of the Company&rsquo;s median employee for 2021 is 98 to one.</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: center"><FONT STYLE="font-size: 14pt; text-transform: uppercase"><B><A NAME="ospndef14a060822a036"></A>director
compensation</B></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; text-align: center"><B><A NAME="ospndef14a060822a037"></A>COMPENSATION OF DIRECTORS</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-indent: 0.5in; text-align: justify">We use a combination of cash and equity-based incentive compensation to attract and retain qualified candidates
to serve on our Board. In determining director compensation for 2021, our Management Development and Compensation Committee sought
to provide our directors with a total economic value that adequately compensates them for the time and effort expended in serving
on our Board and committees of our Board and that aligns director compensation with the interests of our stockholders. The Management
Development and Compensation Committee requested Pay Governance analyze the market competitiveness of the director compensation
program to the peer group. As a result of the analysis, the Committee made recommendations to the board as follows: (a) to further
tie compensation Company performance, the Board approved increasing the annual non-cash equity grant by $20,000 and decreasing
the annual cash retainer by the same amount, and (b) to make certain increases to the chair and membership fees in order to better
align director compensation with the peer group. Our Board approved the following compensation for non-employee directors effective
April 1, 2021:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 96%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Director annual retainer:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">40,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Lead Director (if occupied) fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Chair (if occupied) fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;50,000 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Audit Committee chair fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">20,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Audit Committee membership fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Finance and Strategy Committee chair fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">10,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Finance and Strategy Committee membership fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Management Development and Compensation Committee chair fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">12,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Management Development and Compensation Committee membership fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Corporation Governance and Nominating Committee chair fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">7,500</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #D0CECE">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Corporation Governance and Nominating Committee membership fee:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">4,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Annual non-cash equity grant (aggregate grant date fair value):</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">125,000</FONT></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; text-align: justify">We do not pay separate director fees for
meeting attendance. For 2021, the cash fees and annual retainers were paid on a quarterly basis in cash and, if applicable, were
prorated based upon Board or chair service during the calendar year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">On January 4, 2021, the Company&rsquo;s then-serving non-employee directors Messrs.&nbsp;Boroditsky, Cullinane,
and Moog, Dr. Zenner and Mses.&nbsp;Holley, Johnson and Hassan each were awarded 5,833 deferred RSUs, except for Mr. Fox. Mr. Fox
chose to receive $35,000 of the chair fee in equity and was awarded 7,000 deferred RSUs. The awards vested on January 4, 2022,
the first anniversary of the grant date, except for Messrs. Cullinane and Moog&rsquo;s and Mr. Fox&rsquo;s awards, which vested
upon their respective retirements from our Board effective June 9, 2021, for Messrs. Cullinane and Moog, and August 4, 2021, for
Mr. Fox, pursuant to approval of our Board. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The expense
for each of the awards was accelerated and recognized in the quarterly period in which the vest occurred. Ms. Hassan forfeited
her award upon her resignation from the Board on March 1, 2021. On April 6, 2021, following election to our Board, Mr. Capers was
awarded a pro-rated equity grant of 6,726 deferred RSUs. The award vested on April 6, 2022, the first anniversary of the grant
date. On June 9, 2021, following appointment to our Board, Ms. Garg and Mr. McConnell were each awarded a pro-rated equity grant
of 2,408 deferred RSUs. The awards will vest on June 9, 2022, the first anniversary date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">All equity awards granted to non-employee
directors, including deferred RSUs, are subject to accelerated vesting upon death, disability or change in control for all awards
to the Company&rsquo;s non-employee directors. Payment of each director&rsquo;s equity award(s)&nbsp;is deferred until the earlier
of the director&rsquo;s cessation of service or a change in control.</P>

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


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<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><A NAME="ospndef14a060822a038"></A>2021 DIRECTOR COMPENSATION TABLE</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-indent: 0.5in; text-align: justify">The table below sets
forth the fees earned by each non-employee director in 2021. While serving as the Chief Executive Officer and President of the
Company, neither Mr. Moynahan nor Mr. Clements received any additional compensation for his service on our Board during a portion
of 2021. Please see the 2021 Summary Compensation Table for the compensation received by Messrs. Moynahan and Clements with respect
to 2021.&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 47%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Fees&nbsp;Earned</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>or&nbsp;Paid</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Stock</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: black">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; color: white"><B>Name </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>in&nbsp;Cash</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Awards (7)</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Total</B></FONT></TD></TR>
<TR STYLE="background-color: rgb(208,206,206)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Marc D. Boroditsky (1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">47,313</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">105,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">152,313</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Garry L. Capers (2)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">37,500</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">93,750</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">131,250</FONT></TD></TR>
<TR STYLE="background-color: rgb(208,206,206)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Michael P. Cullinane (1)(3)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">30,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;105,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">135,000</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">John N. Fox, Jr. (1)(6)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">41,416</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">105,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">146,416</FONT></TD></TR>
<TR STYLE="background-color: rgb(208,206,206)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Sarika Garg (5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">23,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">62,500</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">85,500</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt; background-color: white">Naureen Hassan (1) (4)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8,333</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">8,333</FONT></TD></TR>
<TR STYLE="background-color: rgb(208,206,206)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Jean K. Holley (1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">55,416</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">105,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">160,416</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Marianne Johnson (1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">52,916</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">105,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">157,916</FONT></TD></TR>
<TR STYLE="background-color: rgb(208,206,206)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Michael McConnell (5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">31,750</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">62,500</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">94,250</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Matthew Moog (1) (3)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">24,500</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;105,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">129,500</FONT></TD></TR>
<TR STYLE="background-color: rgb(208,206,206)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Alfred Nietzel (1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">72,916</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">105,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">177,916</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Marc Zenner (1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">61,166</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">105,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">166,166</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">On January 4, 2021, the Company&rsquo;s then-serving non-employee directors &ndash; Messrs.&nbsp;Boroditsky,
Cullinane, Moog, Nietzel, Dr. Zenner and Mses.&nbsp;Holley, Hassan and Johnson &ndash; each were awarded 5,833 deferred RSUs, except
for Mr. Fox.&nbsp;&nbsp;Mr. Fox voluntarily chose to convert his $35,000 of the Chair from cash to equity and therefore he was awarded
7,000 deferred RSUs. The awards were granted under our 2019 Omnibus Incentive Plan and vested on January 4, 2022, the first anniversary
of the grant date, except for Messrs. Cullinane, Moog and Fox&rsquo;s awards, which vested upon their resignations from our Board
pursuant to the unanimous consent of our Board. Mr. Moog did not stand for re-election at the 2021 Annual Meeting, and Mr. Cullinane
announced his resignation at the 2021 Annual Meeting. Mr. Fox resigned from the Board on August 4, 2021. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ms.
Hassan forfeited her award upon her resignation on March 1, 2021. Upon their respective retirements from our Board, effective June
9, 2021, for Messrs. Cullinane and Moog, and August 4, 2021, for Mr. Fox, their awards vested in full, upon approval by our Board.
The expense for each of the awards was accelerated and recognized in the quarterly period in which the vesting occurred.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP></SUP></FONT></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Mr. Capers joined the Board effective April 6, 2021.</FONT></TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(3)</TD><TD STYLE="text-align: justify">Mr. Cullinane and Mr. Moog stepped down from the Board
at the 2021 Annual Meeting of Stockholders.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(4)</TD><TD STYLE="text-align: justify">Ms. Hassan stepped down from the Board on March 1, 2021.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(5)</TD><TD STYLE="text-align: justify">Ms. Garg and Mr. McConnell joined the Board on June 9,
2021.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(6)</TD><TD STYLE="text-align: justify">Mr. Fox stepped down from the Board on August 4, 2021.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(7)</TD><TD STYLE="text-align: justify">The aggregate number of unvested stock awards outstanding on December&nbsp;31, 2021, for the
                                                                                non-employee directors was as follows: for each of Messrs. Boroditsky and Nietzel, Dr. Zenner and Mses. Holley and Johnson &ndash;
                                                                                5,833 RSUs; for Mr. Capers &ndash; 3,539 RSUs; and for Ms. Garg and Mr. McConnell &ndash; 2,408 RSUs. Messrs. Cullinane, Fox and
                                                                                Moog and Ms. Hassan had no outstanding awards as of December 31. 2021 due to their respective retirements and resignation.</TD>
</TR></TABLE>

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

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<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><A NAME="ospndef14a060822a039"></A>DIRECTOR STOCK OWNERSHIP POLICY</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-indent: 0.5in; text-align: justify">Excluding amounts payable for serving as
a chair or member of a committee, approximately 75% of the directors&rsquo; fees are payable in equity. Our Board has adopted a
stock ownership policy for directors that directors are required to satisfy within three years after first becoming subject to
the guidelines. The policy provides that a director&rsquo;s fees shall be paid in part in deferred equity equal in value to at
least 50% of such director&rsquo;s aggregate fees (excluding amounts payable for serving as a chair or member of a committee) until
the director holds stock valued at more than three times our Board&rsquo;s aggregate annual director fees (excluding amounts payable
for serving as a chair or member of a committee). As of April 11, 2022, all of our non-employee directors were in compliance with
this policy or were within the transition period.&nbsp;</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: center"><B><A NAME="ospndef14a060822a040"></A>DIRECTOR STOCK TRADING POLICY</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-indent: 0.5in; text-align: justify">The Company&rsquo;s Officer and Director
stock trading policy prohibits directors, executive officers and other employees from the following trading activities in OneSpan
securities: short selling; buying or selling put options, call options or other derivative securities relating to the Company;
engaging in hedging transactions, such as &ldquo;costless collars&rdquo; and forward sales contracts for OneSpan securities; purchasing
OneSpan securities on margin; borrowing against OneSpan securities in a margin account; or pledging OneSpan securities.</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; text-align: justify">In 2020, our Board approved a supplement
to the stock trading policy prohibiting each director and his or her immediate family members and affiliates from selling, transferring
or otherwise disposing of any securities issued by or related to the Company while such director is serving on our Board or within
10 days after such director ceases to serve on our Board (other than due to such director&rsquo;s death, disability or failure
to be re-elected by the Company&rsquo;s stockholders). The supplement is in effect until August 19, 2022.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a041"></A>TRANSACTIONS
WITH RELATED PERSONS</B></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; text-indent: 0.5in; text-align: justify">In 2020, our Board adopted a formal written
policy for the review and, where appropriate, approval and ratification, of related person transactions (the &ldquo;<B><I>Related
Person Transaction Policy</I></B>&rdquo;). For purposes of the Related Person Transaction Policy, related person transactions include
any transaction, arrangement or relationship, or any series of similar transactions, arrangements or relationships, in which: (i)
the aggregate amount involved will or may be expected to exceed $120,000 in any fiscal year, (ii) the Company or any of its consolidated
subsidiaries is or will be a participant and (iii) an executive officer, director, director nominee or a beneficial owner of 5%
or more of any class of voting securities of the Company, or an immediate family member of any of them, has or will have a direct
or indirect material interest (including any indebtedness or guarantee of indebtedness), subject to certain exceptions identified
in the Related Person Transaction Policy. Each related person transaction must be approved or ratified in accordance with the guidelines
set forth in the Related Person Transaction Policy by the Audit Committee or the disinterested members of our Board.</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; text-align: justify">The Audit Committee or other reviewing directors,
in the course of their review and approval or ratification of a related person transaction under the Related Person Transaction
Policy consider, among other things:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the size of the transaction and the amount payable to a related person;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the nature of the interest of the related person in the transaction;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">whether the transaction may involve a conflict of interest;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">whether the transaction was undertaken in the ordinary course of business of the Company;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">whether the transaction involves the provision of goods or services to the Company that are available from unaffiliated third parties and, if so, whether the transaction is on terms and made under circumstances that are at least as favorable to the Company as would be available in comparable transactions with or involving unaffiliated third parties; and</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any other information regarding the related person transaction or related person that would be material to investors in light of the circumstances of the transaction.</FONT></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 Audit Committee or other reviewing directors
may only approve a related person transaction if they determine in good faith that, based on all of the relevant information available
to them, the transaction is in the best interests of the Company and its stockholders.</P>

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




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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In addition to the Related Person Transaction
Policy, all directors and employees certify their compliance with the Company&rsquo;s Code of Ethics and Conduct on an annual basis,
and each director and executive officer of the Company responds annually to a list of questions in connection with the preparation
of our Annual Report and proxy materials for our annual meeting of stockholders. These questions include inquiries with respect
to related person transactions reportable pursuant Item&nbsp;404(a) of Regulation&nbsp;S-K. Each director and executive officer
is obligated to notify OneSpan immediately of any subsequent changes to the information. Should a related person transaction be
identified through any of the aforementioned means, the Audit Committee or other reviewing directors would review the transaction
in accordance with the Related Person Transaction Policy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Since January 1, 2021, there were no related
party transactions between us and any of our executive officers, directors, director nominees or beneficial owners of 5% or more
of our Common Stock, or an immediate family member of any of them, that require disclosure under Item 404 of Regulation S-K.</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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="ospndef14a060822a042"></A>OTHER
MATTERS</B></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; text-align: center"><B><A NAME="ospndef14a060822a043"></A>COSTS OF SOLICITATION</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-indent: 0.5in; text-align: justify">We are required by law to convene an annual
meeting of our stockholders at which directors are elected. Because our shares are widely held, it would be impractical for our
stockholders to meet physically in sufficient numbers to hold a meeting. Accordingly, the Company is soliciting proxies from our
stockholders. The Company will bear the expenses of calling and holding the Annual Meeting and the solicitation of proxies therefor.
These expenses will include, among other things, the costs of preparing, assembling, printing and mailing the proxy materials to
stockholders of record and beneficial owners and reimbursement paid to brokerage firms, banks and other fiduciaries for their reasonable
out-of-pocket expenses for forwarding proxy materials to stockholders and obtaining beneficial owners&rsquo; voting instructions.
In addition to soliciting proxies by mail, directors and officers may solicit proxies on behalf of our Board, without additional
compensation, personally, by telephone, via the Internet or via email. We may also solicit proxies by email from stockholders who
are our employees or who previously requested to receive proxy materials electronically.</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: center"><B><A NAME="ospndef14a060822a044"></A>STOCKHOLDER PROPOSALS FOR OUR 2023 PROXY
MATERIALS</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-indent: 0.5in; text-align: justify">Any stockholder proposal intended to be
included in our proxy materials for our 2023 annual meeting of stockholders (the &ldquo;<B><I>2023 Annual Meeting</I></B>&rdquo;)
pursuant to Rule 14a-8 of the Exchange Act must be received by the Company at 121 West Wacker Drive, 20th Floor, Chicago, Illinois
60601, Attention: Corporate Secretary, by no later than December 30, 2022, being 120 days prior to the first anniversary of the
date that this Proxy Statement was released to stockholders in connection with the Annual Meeting, and must otherwise be in compliance
with applicable SEC rules. However, if the date of the 2023 Annual Meeting has been changed by more than 30 days from the date
of the Annual Meeting, then a stockholder proposal submitted for inclusion in our proxy statement must be received by us a reasonable
time before we begin to print and mail our proxy materials for the 2023 Annual Meeting. The submission of a stockholder proposal
pursuant to Rule 14a-8 does not guarantee that it will be included in our proxy materials.</P>

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






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<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><A NAME="ospndef14a060822a045"></A>DIRECTOR NOMINATIONS BY STOCKHOLDERS
AND </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"><B>STOCKHOLDER PROPOSALS OF OTHER BUSINESS</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-indent: 0.5in; text-align: justify">Any stockholder nomination of a candidate
for election to our Board and any stockholder proposal of other business intended to be presented for consideration at the 2023
Annual Meeting (but that will not be included in the Company&rsquo;s proxy statement pursuant to Rule 14a-8 of the Exchange Act)
must be received by us in a timely manner and otherwise in accordance with our By-laws not later than 5:00&nbsp;p.m. Central Time
on the 90th day, nor earlier than 5:00&nbsp;p.m. Central Time on the 120th day, prior to the first anniversary of the Annual Meeting
(<I>June 8, 2023</I>). However, if the date of the 2023 Annual Meeting is more than 30&nbsp;days before or more than 70&nbsp;days
after such anniversary date, notice by the stockholder must be received not later than 5:00&nbsp;p.m. Central Time on the later
of the 90th day prior to such annual meeting or the 10th day following the day on which public announcement of the date of such
meeting is first made by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In addition to satisfying the foregoing
requirements under our By-laws, to comply with the universal proxy rules (once effective), stockholders who intend to solicit proxies
in support of director nominees other than our nominees must provide notice that sets forth the information required by Rule 14a-19
under the Exchange Act no later than April 9, 2023.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The written notice must include the information
required by our By-laws. The Company reserves the right to disregard any stockholder nomination of a candidate for election to
our Board or stockholder proposal of other business that does not comply with the requirements of our By-laws or any applicable
laws or regulations. A copy of our By-laws is available on our website, investors.onespan.com, in the governance section of our
investor relations webpage.</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: center"><B><A NAME="ospndef14a060822a046"></A>ANNUAL REPORT</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-indent: 0.5in; text-align: justify">Our Annual Report is being furnished together
with this Proxy Statement. <B>You can review and download a copy of our Annual Report by accessing our website, https://investors.onespan.com,
or stockholders may request paper copies, without charge, by writing to OneSpan&nbsp;Inc., 121 West Wacker Drive, 20<SUP>th</SUP>
Floor, Chicago,&nbsp;IL 60601, Attention: Corporate Secretary. </B>The Company&rsquo;s filings with the SEC also are available
to the public at the SEC&rsquo;s website at www.sec.gov. The information on the Company&rsquo;s website and the SEC&rsquo;s website
are not part of this Proxy Statement.</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: center"><B><A NAME="ospndef14a060822a047"></A>CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS</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-indent: 0.5in; text-align: justify">This Proxy Statement contains forward-looking
statements within the meaning of applicable U.S. securities laws, including statements regarding our expectations, beliefs, plans,
operations and strategies relating to our business, the future of our business and planned investor updates. Forward-looking statements
may be identified by words such as &ldquo;seek&rdquo;, &ldquo;believe&rdquo;, &ldquo;plan&rdquo;, &ldquo;estimate&rdquo;, &ldquo;anticipate&rdquo;,
&ldquo;expect&rdquo;, &ldquo;intend&rdquo;, &ldquo;continue&rdquo;, &ldquo;outlook&rdquo;, &ldquo;may&rdquo;, &ldquo;will&rdquo;, &ldquo;should&rdquo;,
&ldquo;could&rdquo;, or &ldquo;might&rdquo;, and other similar expressions. These forward-looking statements involve risks and uncertainties,
as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially
from those expressed or implied by such forward looking statements. Factors that could materially affect our business and financial
results include, but are not limited to: the impact of the COVID-19 pandemic and actions taken to contain it; the potential effects
on sales caused by a limited customer base; the impact of a multi-year business transformation, including the replacement of multiple
senior executives; the potential return of a worldwide recession and/or regional economic downturns; disruptions in markets or
the European Union that may adversely affect the Company&rsquo;s liquidity and capital resources; accounting-related costs resulting
from ineffective maintenance over the financial reporting systems; modest profit accumulations over the Company&rsquo;s long operating
history; the Company derives revenue from a limited number of products; substantial expenses caused by a long sales cycle for the
Company&rsquo;s products and technology; reliance on a limited number of suppliers; losses incurred due to inventory-related issues;
establishment and maintenance of strategic relationships with companies; inability to maintain effective product distribution channels;
reliance on key personnel to maintain the success of the business; failure to attract and retain qualified personnel; the operational
and financial effects caused by a change in the effective tax rate, worldwide income tax provisions, changes in global tax laws
or other tax accruals; the operational and financial risks caused by acquisitions, divestures and other strategic transactions;
fluctuations in revenue caused by interpretation or application of accounting rules; the risks associated with the development
of business and market strategies to evolve the business; changes in the market share due to significant competition; potential
decreases of average selling prices; reliance on capital to grow the business; variations in quarterly operating results caused
by seasonality; effects of the stock repurchase program on the price of stock; substantial ownership of common stock by a small
group of persons; difficulties in effectuating a takeover due to provisions in the Company&rsquo;s charter and Delaware laws; reduction
in voting power of common stock caused by future issuances of blank check preferred stock; actions of activist stockholders; the
potential effects of technological changes; he increasing frequency and sophistication of cybersecurity attacks; reliance on Amazon
Web Services; use of third-party, open-source software; necessity to attract and retain highly skilled technical personnel for
research and development; uncertainty surrounding the success of research and development; failure to effectively manage the Company&rsquo;s
product and service lifestyles; SaaS offerings; dependence on proprietary technology and intellectual property; lack of competitive
advantages provided by the Company&rsquo;s patents; warranty and product liability risks; impacts of government regulation on technology
imports and exports; use of cryptographic technology in the authentication of products; risk associated with international operations;
issues caused by fluctuations to foreign currency exchange rate; operational effects caused by changes in the regulatory environment
in Europe or Asia regarding privacy and data protection regulations; compliance with governmental regulations setting environmental
standards; the departure of the United Kingdom from the European Union; actions by China in Hong Kong; impacts of climate change
regulations; impacts of conflict mineral regulations; investor difficulties associated with making breach claims with employees
located outside of the United States; heightened risk associated with doing business in countries with a history of corruption;
and delays in global transportation and disruptions in supply chains, as well as those factors described in the &ldquo;Risk Factors&rdquo;
section of our Annual Report. Our filings with the Securities and Exchange Commission (the &ldquo;<B><I>SEC</I></B>&rdquo;) and
other important information can be found in the Investor Relations section of our website at investors.onespan.com. We do not have
any intent, and disclaim any obligation, to update the forward-looking information to reflect events that occur, circumstances
that exist or changes in our expectations after the date the Proxy Statement, except as required by law.</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; text-align: justify">Unless otherwise noted, references in this
Proxy Statement to &ldquo;OneSpan&rdquo;, &ldquo;Company&rdquo;, &ldquo;we&rdquo;, &ldquo;our&rdquo;, and &ldquo;us&rdquo; refer
to OneSpan Inc. and its subsidiaries.</P>

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


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<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><A NAME="ospndef14a060822a048"></A>INCORPORATION BY REFERENCE</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: justify; text-indent: 0.5in">To the extent that
this Proxy Statement is incorporated by reference into any other filing by us under the Securities Act of 1933, as amended, or
the Exchange Act, the sections of this Proxy Statement entitled &ldquo;Compensation Committee Report&rdquo; and &ldquo;Report of
the Audit Committee&rdquo; will not be deemed incorporated unless specifically provided otherwise in such filing, to the extent
permitted by the rules of the SEC. Such sections shall also not be deemed to be &ldquo;soliciting material&rdquo; or to be &ldquo;filed&rdquo;
with the SEC. Information contained on or connected to our website is not incorporated by reference into this Proxy Statement and
should not be considered part of this Proxy Statement or any other filing that we make with the SEC.</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: center"><B><A NAME="ospndef14a060822a049"></A>OTHER MATTERS</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-indent: 0.5in; text-align: justify">Management does not intend to present and
does not have any reason to believe that others will present, any item of business at the Annual Meeting other than those specifically
set forth in the Notice of Annual Meeting. If other matters are properly presented for a vote, however, the persons named in the
enclosed proxy and acting thereunder will have discretion to vote on those matters in accordance with their judgment to the same
extent as the person who signed the proxy would be entitled to vote.</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: center">* * * * *</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-indent: 0.5in; text-align: justify"><B>YOUR VOTE IS VERY IMPORTANT.</B> It is
important that your voice be heard and your shares be represented at the Annual Meeting whether or not you are able to attend.
We urge you to vote TODAY by completing, signing and dating the enclosed proxy card and promptly mailing it in the postage pre-paid
envelope provided or following the instructions on the enclosed proxy card or Notice of Internet Availability to vote via the Internet
or by telephone. Please submit a proxy as soon as possible, so that your shares can be voted at the Annual Meeting in accordance
with your instructions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: bottom">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt"><B>By Order of the Board of Directors,</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><IMG SRC="ospndef14a060822001.jpg" ALT="(GRAPHIC)">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Matthew Moynahan</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>President and Chief Executive Officer</I></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">April 29, 2022&nbsp;</P></TD></TR>
</TABLE>


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


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    <!-- Field: /Page -->


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>NON-GAAP
RECONCILIATION</B></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; text-align: justify; text-indent: 0.5in">Below is a reconciliation
of the non-GAAP financial measure set forth in this Proxy Statement under &ldquo;Executive Summary&rdquo; of the CD&amp;A on page
46.</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-indent: 0.5in; text-align: justify">We report financial results in accordance
with GAAP. We also evaluate our performance using certain non-GAAP operating metrics, namely Adjusted EBITDA. Our management believes
that this measure provides useful supplemental information regarding the performance of our business and facilitates a comparison
to our historical operating results.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">This non-GAAP financial measure is not a
measure of performance under GAAP and should not be considered in isolation or as an alternative or substitute for the most directly
comparable financial measure calculated in accordance with GAAP. While we believe that this non-GAAP financial measure is useful
within the context described below, it is incomplete and is not a measure that should be used to evaluate our full performance
or our prospects. Such an evaluation needs to consider all of the complexities associated with our business including, but not
limited to, how past actions are affecting current results and how they may affect future results, how we have chosen to finance
the business and how taxes affect the final amounts that are or will be available to stockholders as a return on their investment.
A reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure is found below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Adjusted
EBITDA</B></FONT></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-indent: 0.5in; text-align: justify">We define Adjusted EBITDA as net income
before interest, taxes, depreciation, amortization, long-term incentive compensation and certain non-recurring items, including
acquisition-related costs, lease exit costs, rebranding costs and accruals for legal contingencies. We use Adjusted EBITDA as a
simplified measure of performance for communicating our performance to investors and analysts and for comparisons to other companies
within our industry. As a performance measure, we believe that Adjusted EBITDA presents a view of our operating results that is
most closely related to serving our customers. By excluding interest, taxes, depreciation, amortization, long-term incentive compensation
and certain non-recurring items, we are able to evaluate performance without considering decisions that, in most cases, are not
directly related to meeting our customers&rsquo; requirements and were either made in prior periods (<I>e.g.</I>, depreciation,
amortization, long-term incentive compensation, lease exit costs and reversal of a prior period legal contingency accrual), deal
with the structure or financing of the business (<I>e.g.</I>, interest, acquisition-related costs and rebranding costs) or reflect
the application of regulations that are outside of the control of our management team (<I>e.g.</I>, taxes). Similarly, we find
that our comparison of our results to those of our competitors is facilitated when we do not consider the impact of these items.</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: center"><B>Reconciliation of Net Income (Loss)
to Adjusted EBITDA</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"><B>(in thousands, unaudited)</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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Twelve Months Ended <BR> December 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2021</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2020</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(217,217,217)">
    <TD STYLE="width: 38%; text-align: left">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">(30,584</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">(5,455</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Interest income (expense), net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(404</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(217,217,217)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Provision (benefit) for income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,441</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,035</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Depreciation and amortization of intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,926</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,003</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(217,217,217)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Long-term incentive compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,202</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,001</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Non-recurring items (1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">6,951</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(217,217,217)">
    <TD STYLE="text-align: left">Adjusted EBITDA</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(5,063</TD><TD STYLE="text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">14,180</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-left: 0.25in"><IMG SRC="ospnproxycard001.jpg" ALT="">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><I>&nbsp;</I></B></FONT></P>
                           <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><I>&nbsp;</I></B></FONT></P>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><I>ONESPAN
INC </I></B></FONT><FONT STYLE="font-size: 8pt"><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><I>121 WEST WACKER DRIVE, STE 2050 </I></B></FONT><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><I>CHICAGO, &nbsp;&nbsp;ILLINOIS 60601 </I></B></FONT><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><I>ATTN: SUZANNE MASO</I></B></FONT></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><I>&nbsp;</I></B></FONT></P></TD>
    <TD STYLE="text-align: justify; width: 45%"><P STYLE=" margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>VOTE
                                         BY INTERNET - www.proxyvote.com or scan the QR Barcode above</B> 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></P>
                                                <P STYLE="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><I>During
                                         The Meeting</I> - Go to <B><U>www.virtualshareholdermeeting.com/OSPN2022</U></B> You
                                         may attend the meeting via the Internet and vote during the meeting. Have the information
                                         that is printed in the box marked by the arrow available and follow the instructions.</FONT></P>
                                                <P STYLE="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>VOTE
                                         BY PHONE - 1-800-690-6903</B></FONT></P>
                                                <P STYLE="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">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></P>
                                                <P STYLE="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>VOTE
                                         BY MAIL</B></FONT></P>
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                                         provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood,
                                         NY 11717.</FONT></P></TD></TR>
</TABLE>


<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;&nbsp;</FONT></P>
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<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>
<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>
<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>
<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>
<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>
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    <TD COLSPAN="2"><P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</FONT></P>


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    <TD STYLE="border-bottom: Black 1pt dashed; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></TD>
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    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">DETACH AND RETURN THIS PORTION ONLY</FONT></TD></TR>
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<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:46%"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 99%; border-collapse: collapse; font-size: 10pt">
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    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 47%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 1pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="5"></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>The
    Board of Directors recommends you vote FOR the following:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>1.</B></FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">To
    elect seven directors to serve on the Board of Directors;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Nominees</B></FONT></TD>
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    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; text-align: justify"></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>For</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;&nbsp;<B>Against</B>&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>Abstain</B></FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
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    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
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    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">1a.</FONT></TD>
    <TD COLSPAN="4"><P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Marc Boroditsky</FONT></P>

</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    </TR>
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    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
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    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">1b.</FONT></TD>
    <TD COLSPAN="4"><P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Garry L.
                    Capers</FONT></P>

</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    </TR>
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    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">1c.</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Sarika Garg</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    </TR>
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    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
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    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">1d.</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Marianne Johnson</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">1e.</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Michael McConnell</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">1f.</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Alfred Nietzel</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    </TR>
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    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">1g.&nbsp;</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Marc Zenner</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    </TR>
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    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
    <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="5"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>The Board of Directors recommends
    you vote FOR proposals 2 and 3.</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>For</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>Against</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>Abstain</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>2.</B></FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">To hold an advisory vote on executive
    compensation; and</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&#9744;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="5"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8"><P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Please sign
                    exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary,
                    please give full title as such. Joint owners should each sign personally. All holders must sign. If a corporation
                    or partnership, please sign in full corporate or partnership name by authorized officer.</FONT></P>

</TD>
    </TR>
</TABLE>
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>For</B></FONT></TD>
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    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><B>3.</B></FONT></TD>
    <TD COLSPAN="4" STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">To ratify the appointment of KPMG LLP as the Company's independent registered public accounting firm for the fiscal year 2022.</FONT></TD>
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Signature [PLEASE SIGN WITHIN BOX]</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Date</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Signature (Joint Owners)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Date</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></TD></TR>
</TABLE>

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<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

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<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Important
Notice Regarding the Availability of Proxy Materials for the Annual Meeting:</B></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Notice and Proxy Statement and Annual Report are available at <U>www.proxyvote.com</U></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt dashed; font: 5pt Arial, Times, Serif; width: 100%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 4pt 0 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>




<div style="border: 1pt solid black; width:96%;padding:2%">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>ONESPAN INC</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>Annual
Meeting of Stockholders</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>June 8, 2022 10:00 AM Central Time</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>This proxy is solicited by the Board of Directors</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The stockholder(s) hereby appoint(s) Matthew Moynahan and MJ Capodanno, or either of them, as proxies, each with the power
to appoint their substitute, and hereby authorize(s) them to represent and to vote, as designated on the reverse side of this
ballot, all of the shares of Common Stock of ONESPAN INC that the stockholder(s) is/ are entitled to vote at the Annual Meeting
of Stockholders to be held at 10:00 AM, Central Time on June 8, 2022, at www.virtualshareholdermeeting.com/OSPN2022, and any
adjournment or postponement thereof.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>This proxy, when properly executed,
will be voted in the manner directed herein. If no such direction is made, this proxy will be voted in accordance with the Board
of Directors' recommendations.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

<P STYLE="font: 4pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Continued and to be signed on reverse side</B></FONT></P>
</div>
<P STYLE="margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.6pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.6pt; text-align: justify"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
