<SEC-DOCUMENT>0001437749-21-021140.txt : 20210830
<SEC-HEADER>0001437749-21-021140.hdr.sgml : 20210830
<ACCEPTANCE-DATETIME>20210830121610
ACCESSION NUMBER:		0001437749-21-021140
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		7
FILED AS OF DATE:		20210830
DATE AS OF CHANGE:		20210830
EFFECTIVENESS DATE:		20210830

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MESA LABORATORIES INC /CO/
		CENTRAL INDEX KEY:			0000724004
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				840872291
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-259154
		FILM NUMBER:		211222041

	BUSINESS ADDRESS:	
		STREET 1:		12100 W 6TH AVE
		CITY:			LAKEWOOD
		STATE:			CO
		ZIP:			80228
		BUSINESS PHONE:		3039878000

	MAIL ADDRESS:	
		STREET 1:		12100 W 6TH AVE
		CITY:			LAKEWOOD
		STATE:			CO
		ZIP:			80228

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MESA LABORATORIES INC /CO
		DATE OF NAME CHANGE:	19951117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MESA MEDICAL INC
		DATE OF NAME CHANGE:	19921123
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>mlab20210818_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>As filed with the Securities and Exchange Commission on August 30, 2021 </b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;"><b>Registration No. 333- </b></p>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>FORM S-8 </b></p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>MESA LABORATORIES, INC.</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Exact name of registrant as specified in its charter)</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Colorado</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(State or other jurisdiction of</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">incorporation or organization)</p>
			</td>
			<td style="vertical-align:bottom;width:32.5%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:32.5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>84-0872291</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(I.R.S. Employer Identification Number)</p>
			</td>
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</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>12100 West Sixth Avenue</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Lakewood, Colorado, 80228</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>(303) 987-8000</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Address and telephone number of principal executive office)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Mesa Laboratories, Inc. 2021 Equity Incentive Plan</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Full Title of Plan)</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Gary Owens</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Chief Executive Officer</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>12100 West Sixth Avenue</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Lakewood, Colorado 80228</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>(303) 987-8000</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Name and telephone number of agent for service)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="vertical-align:top;width:27.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Large accelerated filer</p>
			</td>
			<td style="vertical-align:top;width:2%;">
			<p style="font-family:Wingdings;font-size:10pt;font-variant:normal;margin:0pt;">&#9746;</p>
			</td>
			<td style="vertical-align:top;width:35%;">&nbsp;</td>
			<td style="vertical-align:top;width:30.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">Accelerated filer</p>
			</td>
			<td style="vertical-align:top;width:4.8%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;&#9744;</p>
			</td>
		</tr>
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			<td style="vertical-align:top;width:27.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Non-accelerated filer</p>
			</td>
			<td style="vertical-align:top;width:2%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;width:35%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:30.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">Smaller reporting company</p>
			</td>
			<td style="vertical-align:top;width:4.8%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;&#9744;</p>
			</td>
		</tr>
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			<td style="vertical-align:top;width:27.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:2%;">&nbsp;</td>
			<td style="vertical-align:top;width:35%;">&nbsp;</td>
			<td style="vertical-align:top;width:30.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">Emerging growth company</p>
			</td>
			<td style="vertical-align:top;width:4.8%;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;&#9744;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act.&nbsp;&nbsp; &#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>CALCULATION OF REGISTRATION FEE</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:15.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Title of Securities to be Registered</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:7.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Amount to be Registered (1)</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:8.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Proposed Maximum Offering Price Per Share (2)</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:9.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Proposed Maximum Aggregate Offering Price</b></p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.8%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Amount of Registration Fee</b></p>
			</td>
		</tr>
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			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:15.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Common Stock, no par value</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:7.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">330,000 shares</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:8.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">$272.45</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:9.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">$89,906,850</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:6.8%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">$9,808.84</p>
			</td>
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</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table cellpadding="0pt" cellspacing="0pt" style="width: 100%; text-indent: 0px; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">

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			<td style="width: 9pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">(1)</p>
			</td>
			<td style="width: auto; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Pursuant to Rule 416 under the Securities Act of 1933 (the &#8220;Securities Act&#8221;), this Registration Statement will also cover any additional shares of common stock that become issuable under the Mesa Laboratories, Inc. 2021 Equity Incentive Plan by reason of any stock dividend, stock split, reorganization or other similar transaction effected without Mesa Laboratories Inc&#8217;s receipt of consideration that results in an increase in the number of outstanding shares of common stock.</p>
			</td>
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</table>

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			<td style="width: 9pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="width: 18pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(2)</p>
			</td>
			<td style="width: auto; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">The offering price is estimated in accordance with Rules 457(c) and 457(h) under the Securities Act of 1933, as amended, solely for the purpose of computing the amount of the registration fee and is based upon the average of the high and low prices of the Registrant&#8217;s common stock on August 27, 2021, as reported on Nasdaq.</p>
			</td>
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</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Part I</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>INFORMATION REQUIRED IN THE SECTION 10(</b><b>a</b><b>) PROSPECTUS</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Item 1. Plan Information.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">As permitted by the rules of the United States Securities and Exchange Commission (the &#8220;Commission&#8221;), this registration statement omits the information specified in Part I of Form&nbsp;S-8. Mesa Laboratories, Inc. (the &#8220;Registrant&#8221;) shall send or give the documents containing the information specified in Part I to the participants in the Mesa Laboratories, Inc. 2021 Equity Incentive Plan as required by Rule 428(b)(1) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Item 2. Registrant Information and Employee Plan Annual Information</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The written statement required by Item&nbsp;2 is included in documents sent or given to participants in the plans covered by this registration statement pursuant to Rule&nbsp;428(b)(1)&nbsp;of the Securities Act.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Part II</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 3.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> Incorporation of Documents by Reference.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The following documents have been filed with the Commission by the Registrant and are hereby incorporated in this registration statement by reference, excluding any disclosures therein that have been furnished and not filed:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="width:36pt;">&nbsp;</td>
			<td style="vertical-align:top;width:18pt;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Registrant&#8217;s Annual Report on <a href="http://www.sec.gov/ix?doc=/Archives/edgar/data/724004/000143774921013801/mlab20210331_10k.htm" style="-sec-extract:exhibit;">Form 10-K for the fiscal year ended March 31, 2021</a>;</p>
			</td>
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</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<td style="width:36pt;">&nbsp;</td>
			<td style="vertical-align:top;width:18pt;">
			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9679;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The information specifically incorporated by reference into the Registrant&#8217;s Annual Report on Form 10-K for the fiscal year ended March 31, 2021 from the <a href="http://www.sec.gov/Archives/edgar/data/724004/000143774921017028/mlab20210514_def14a.htm" style="-sec-extract:exhibit;">Registrant&#8217;s definitive proxy statement on Schedule 14A</a>;</p>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9679;</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Registrant&#8217;s Quarterly Report on <a href="http://www.sec.gov/ix?doc=/Archives/edgar/data/724004/000143774921018622/mlab20210630_10q.htm" style="-sec-extract:exhibit;">Form&nbsp;10-Q for the quarterly period ended June 30, 2021</a>; and</p>
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			<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&#9679;</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The <a href="http://www.sec.gov/Archives/edgar/data/724004/000143774921013801/ex_224511.htm" style="-sec-extract:exhibit;">description of the Registrant&#8217;s common stock </a>contained in its Registration Statement on Form 8-A filed with the Commission as file number 0-11740, as amended by the description of the Registrant&#8217;s common stock included in Exhibit 4.3 to the Registrant&#8217;s Annual Report on Form 10-K for the fiscal year ended March 31, 2021.</p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), subsequent to the date of this registration statement and prior to the filing of a post-effective amendment to this registration statement indicating that all securities offered under the registration statement have been sold, or deregistering all securities then remaining unsold, shall be deemed to be incorporated by reference herein and shall be a part hereof from the respective dates of filing such documents, other than any portions of such documents that are deemed furnished under applicable Commission rules rather than filed.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Any statement contained in a document incorporated, or deemed to be incorporated, by reference herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document that also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 4.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> Description of Securities.</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Not applicable.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 5.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> Interests of Named Experts and Counsel.</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The opinion of counsel as to the legality of the securities that may be issued under the Plan is given by Elizabeth K. Vonne, General Counsel and Secretary for the Company. Ms. Vonne owns shares of the Registrant&#8217;s common stock and is eligible to participate in the Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 6.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> Indemnification of Directors and Officers.</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Article 109 of the Colorado Business Corporation Act (&#8220;CBCA&#8221;) provides broad authority for indemnification of directors and officers.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Articles of Incorporation and Bylaws of the Registrant provide for indemnification of its officers and directors to the fullest extent permitted by the CBCA. As permitted by Section 7-108-402 of the CBCA, the Registrant&#8217;s Articles of Incorporation provide that a director shall not be liable for monetary damages for breach of his fiduciary duty as a director except in certain limited circumstances.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Registrant has obtained a directors&#8217; and officers&#8217; liability insurance policy.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The foregoing summary is subject to the complete text of the statutes, the Articles of Incorporation and the Bylaws, and are qualified in their entirety by reference thereto.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 7.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> Exemption from Registration Claimed.</b></p>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">Not applicable.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 8.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> Exhibits.</b></p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Exhibit No.</b></p>
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			<td style="vertical-align: bottom; width: 19px;">&nbsp;</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 1535px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Description</b></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">3.1</p>
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			<td style="vertical-align: top; width: 19px;">&nbsp;</td>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u><a href="http://www.sec.gov/Archives/edgar/data/724004/000143774918014047/ex_119267.htm" style="-sec-extract:exhibit;"><font style="color:#0000ff;">Articles of Incorporation and Amendments to Articles of Incorporation (incorporated by reference from exhibit 3.1 to Mesa Laboratories, Inc</font></a><font style="color:#0000ff;">.'s&nbsp;report on Form 10-Q filed on July 31, 2018 (Commission File Number: 000-11740)).</font></u></p>
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			<td style="vertical-align:top;width:11.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">3.2</p>
			</td>
			<td style="vertical-align: top; width: 19px;">&nbsp;</td>
			<td style="vertical-align: top; width: 1535px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="http://www.sec.gov/Archives/edgar/data/724004/000143774919009346/ex_143960.htm" style="-sec-extract:exhibit;"><font style="color:#0000ff;">Amended &nbsp;and Restated Bylaws of Mesa Laboratories, Inc. (incorporated by reference from exhibit 3.1 to the Current Report on Form 8-K filed on May 10, 2019 (Commission File Number: 000-11740)).</font></a></p>
			</td>
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			<td style="vertical-align:top;width:11.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">5.1</p>
			</td>
			<td style="vertical-align: top; width: 19px;">&nbsp;</td>
			<td style="vertical-align: top; width: 1535px;">
			<p style="font-family: &quot;Times New Roman&quot;; font-variant: normal; margin: 0pt;"><a href="ex_277260.htm" style="font-size: 10pt;"><font style="color:#0000ff;">Opinion of Counsel</font></a><font style="color:#0000ff;">*</font></p>
			</td>
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			<td style="vertical-align:top;width:11.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">10.2.3</p>
			</td>
			<td style="vertical-align: top; width: 19px;">&nbsp;</td>
			<td style="vertical-align: top; width: 1535px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_277261.htm" style="-sec-extract:exhibit;"><font style="color:#0000ff;">Mesa Laboratories, Inc. 2021 Equity Incentive Plan</font></a><font style="color:#0000ff;"><sup style="vertical-align:top;line-height:120%;font-size:pt">*</sup></font></p>
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		</tr>
		<tr>
			<td style="vertical-align: top; width: 11.4%; text-align: center;">10.3.7</td>
			<td style="vertical-align: top; width: 19px;">&nbsp;</td>
			<td style="vertical-align: top; width: 1535px;"><a href="ex_279432.htm" style="-sec-extract:exhibit;"><font style="color:#0000ff;">Form of 2021 Equity Incentive Plan Option Award Agreement*</font></a></td>
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		<tr>
			<td style="vertical-align: top; width: 11.4%; text-align: center;">10.3.8</td>
			<td style="vertical-align: top; width: 19px;">&nbsp;</td>
			<td style="vertical-align: top; width: 1535px;"><a href="ex_279433.htm" style="-sec-extract:exhibit;"><font style="color:#0000ff;">Form of 2021 Equity Incentive Plan Restricted Stock Unit Agreement*</font></a></td>
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			<td style="vertical-align:top;width:11.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">23.1</p>
			</td>
			<td style="vertical-align: top; width: 19px;">&nbsp;</td>
			<td style="vertical-align: top; width: 1535px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_277262.htm" style="-sec-extract:exhibit;"><font style="color:#0000ff;">Consent of Plante &amp; Moran, PLLC</font></a><font style="color:#0000ff;"><sup style="vertical-align:top;line-height:120%;font-size:pt">*</sup></font></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">23.2</p>
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			<td style="vertical-align: top; width: 19px;">&nbsp;</td>
			<td style="vertical-align: top; width: 1535px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_277260.htm" style="-sec-extract:exhibit;"><font style="color:#0000ff;">Consent of Counsel (included in Exhibit&nbsp;5.1)</font></a><font style="color:#0000ff;"><sup style="vertical-align:top;line-height:120%;font-size:pt">&nbsp;*</sup></font></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">24.1</p>
			</td>
			<td style="vertical-align: top; width: 19px;">&nbsp;</td>
			<td style="vertical-align: top; width: 1535px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="#Power_of_Attorney" style="-sec-extract:exhibit;"><font style="color:#0000ff;">Power of Attorney (included on the signature page hereto)</font></a><font style="color:#0000ff;"><sup style="vertical-align:top;line-height:120%;font-size:pt">&nbsp;*</sup></font></p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">* Filed or furnished herewith.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 9.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> Undertakings.</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant hereby undertakes:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 108pt;text-indent:-36pt;">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 144pt;text-indent:-36pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any prospectus required by Section 10(a)(3) of the Securities Act;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 144pt;text-indent:-36pt;">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement; and</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 144pt;text-indent:-36pt;">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 108pt;"><i>Provided</i>, <i>however</i>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 108pt;text-indent:-36pt;">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 108pt;text-indent:-36pt;">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&#8217;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SIGNATURES</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Lakewood, State of Colorado, on this 30th&nbsp;day of August, 2021.</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>MESA LABORATORIES,</b><b>&nbsp;INC.</b></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">By:</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u>/s/ Gary M. Owens</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Name:</p>
			</td>
			<td style="vertical-align:top;width:86.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Gary M. Owens</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:16.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Title:</p>
			</td>
			<td style="vertical-align:top;width:86.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Chief Executive Officer</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><a id="Power_of_Attorney" name="Power of Attorney" title="Power of Attorney"></a>POWER OF ATTORNEY</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Each person whose signature appears below constitutes and appoints Gary Owens and&nbsp;John Sakys, or either&nbsp;of them, as his or her true and lawful attorney-in-fact with full power of substitution and resubstitution, in any and all capacities, to sign this registration statement or amendments thereto and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and conforming all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to be done by virtue hereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="border-bottom:solid 3px #000000;vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Signature</b></p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="border-bottom:solid 3px #000000;vertical-align:bottom;width:34.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Title</b></p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="border-bottom:solid 3px #000000;vertical-align:bottom;width:22.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Date</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">/s/ John J. Sullivan, Ph.D.</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Chairman of the Board of Directors</p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">August 30, 2021</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">John J. Sullivan</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">/s/ Gary M. Owens</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Chief Executive Officer, President, and Director</p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">August 30, 2021</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Gary M. Owens</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">/s/ John V. Sakys</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Vice President and Chief Financial Officer</p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">August 30, 2021</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">John V. Sakys</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">/s/ John B. Schmieder</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">August 30, 2021</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">John B. Schmieder</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">/s/ Jennifer S. Alltoft</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">August 30, 2021</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Jennifer S. Alltoft</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">/s/ Evan Guillemin</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">August 30, 2021</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Evan Guillemin</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">/s/ David M. Kelly</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">August 30, 2021</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">David M. Kelly</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">/s/ Shannon Hall</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:22.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">August 30, 2021</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Shannon Hall</p>
			</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:39.4%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:34.6%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:22.9%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>ex_277260.htm
<DESCRIPTION>EXHIBIT 5.1 LEGAL OPINION
<TEXT>
<html><head>
	<title>ex_277260.htm</title>
	<!-- Generated by ThunderDome Portal - 8/25/2021 8:39:11 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
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<body style="font-size:10pt;font-family:'Times New Roman';padding:0in .1in;">
<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 5.1</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<div style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</div>

<div style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; text-align: right;"><img alt="a02.jpg" src="a02.jpg"></div>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Ladies and Gentlemen:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">This will refer to the Registration Statement on Form&nbsp;S-8 (the &#8220;Registration Statement&#8221;) that is being filed by Mesa Laboratories, Inc. (the &#8220;Company&#8221;) with the Securities and Exchange Commission (the &#8220;Commission&#8221;) pursuant to the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), with respect to 330,000 shares of common stock, no par value, of the Company (&#8220;Common Stock&#8221;), relating to the Mesa Laboratories, Inc. 2021 Equity Incentive Plan (the &#8220;Plan&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">As VP-Legal, General Counsel and Secretary of the Company,&nbsp;I am familiar with the Articles of Incorporation and the Bylaws, each as amended to date, of the Company and with its affairs, including the actions taken by the Company in connection with the Plan. I also have examined such other documents and instruments and have made such further investigation as I have deemed necessary or appropriate in connection with this opinion.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Based upon the foregoing, it is my opinion that:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;">(1)&nbsp; The Company is duly incorporated and validly existing as a corporation under the laws of the State of Colorado.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;">(2)&nbsp; All necessary corporate proceedings have been taken to authorize the issuance of the shares of Common Stock being registered under the Registration Statement, and all such shares of Common Stock, when issued and delivered pursuant to the Company&#8217;s Articles of Incorporation and the Plan, and when the Registration Statement shall have become effective, will be legally issued and will be fully paid and non-assessable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">I hereby consent to the use of this opinion as Exhibit&nbsp;5.1 to the Registration Statement. In giving this consent,&nbsp;I do not admit that I am in the category of persons whose consent is required under Section&nbsp;7 of the Securities Act or the Rules&nbsp;and Regulations of the Commission issued thereunder. The opinions in this letter are expressed as of the date hereof unless otherwise expressly stated, and I disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable law.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:50%;">&nbsp;</td>
			<td style="vertical-align:top;width:50%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Very truly yours,</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">/s/ Elizabeth K. Vonne</p>
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			<td style="vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Elizabeth K Vonne,</p>
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			<td style="vertical-align:top;width:auto;">&nbsp;</td>
			<td style="vertical-align:top;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">VP-Legal, General Counsel and Secretary</p>
			</td>
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<DOCUMENT>
<TYPE>EX-10.23
<SEQUENCE>3
<FILENAME>ex_277261.htm
<DESCRIPTION>EXHIBIT 10.2.3 EQUITY INCENTIVE PLAN
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.2.3</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>MESA LABORATORIES, INC.</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>2021 EQUITY INCENTIVE PLAN</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Table of Contents</b><br>
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align: bottom; width: 4%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 87%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;"><b><u>Page</u></b></p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">1.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">ESTABLISHMENT AND PURPOSE OF PLAN</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">1</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">2.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">DEFINITIONS</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">1</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">2.1</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Defined Terms</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">1</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">2.2</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Construction</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">6</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 87%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">3.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">PLAN ADMINISTRATION</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">6</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">3.1</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Plan Administrator</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">6</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">3.2</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Powers of the Administrator</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">6</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">3.3</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Binding Determinations</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">8</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">3.4</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Reliance on Experts</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">8</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">3.5</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Delegation of Non-Discretionary Functions</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">8</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 87%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">4.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">SHARES OF COMMON STOCK SUBJECT TO THE PLAN; SHARE LIMIT</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">8</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.1</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Shares of Common Stock Subject to the Plan; Share Limit</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">8</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.2</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Counting of Shares</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">8</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.3</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Reservation of Shares; No Fractional Shares</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">9</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">5.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">PARTICIPATION</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">9</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">6.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">AWARDS</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">9</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.1</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Type and Form of Awards</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">9</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.1.1&nbsp; Stock Options</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">9</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.1.2&nbsp; Stock Appreciation Rights</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">10</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.1.3&nbsp; Restricted Stock</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">11</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.1.4&nbsp; Restricted Stock Units</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">12</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.1.5&nbsp; Performance Stock Units</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">12</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.1.6&nbsp; Cash Awards</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">13</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.1.7&nbsp; Other Awards</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">13</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.2</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Award Agreements</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">13</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.3</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Deferrals and Settlements</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">14</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.4</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Consideration for Common Stock or Awards</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">14</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.5</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Transfer Restrictions</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">14</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.5.1&nbsp; Limitations on Exercise and Transfer</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">14</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.5.2&nbsp; Exceptions</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">15</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.5.3&nbsp; Further Exceptions to Limits on Transfer</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">15</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.6</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">International Awards</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">15</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.7</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Dividend and Dividend Equivalents</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">15</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">6.8</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Minimum Vesting Schedule</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">15</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">7.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">EFFECT OF TERMINATION OF SERVICE ON AWARDS</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">16</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">7.1</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Termination of Employment</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">16</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">7.1.1&nbsp; Administrator Determination</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">16</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">7.1.2&nbsp; General</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">16</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">7.1.3&nbsp; Stock Options and SARs</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">16</p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">- i -</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">7.2</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Normal Retirement</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">17</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">7.3</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Events Not Deemed Terminations of Service</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">17</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">7.4</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Change in Time Commitment</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">17</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">7.4</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Effect of Change of Subsidiary Status</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">18</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 87%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">8.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">ADJUSTMENTS; ACCELERATION</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">18</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">8.1</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Adjustments</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">18</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">8.2</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Effect of a Change on Control</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">18</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 87%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">9.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">TAX PROVISIONS</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">19</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">9.1</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Tax Withholding</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">19</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">9.2</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Requirement of Notification of Code Section&nbsp;83(b) Election</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">19</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">9.3</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Requirement of Notification of Disqualifying Disposition</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">19</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 87%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 5%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">10.</td>
			<td colspan="2" rowspan="1" style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">OTHER PROVISIONS</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">20</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.1</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Compliance with Laws</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">20</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.2</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Future Awards/Other Rights</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">20</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.3</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">No Employment/Service Contract</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">20</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.4</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Plan Not Funded</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">20</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.5</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Effective Date, Termination and Suspension, Amendments</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">20</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.5.1&nbsp; Effective Date and Termination</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">20</p>
			</td>
		</tr>
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			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.5.2&nbsp; Amendment; Termination</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">21</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.5.3&nbsp; Stockholder Approval</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">21</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.5.4&nbsp; Amendments to Awards</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">21</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.5.5&nbsp; Limitations on Amendments to Plan and Awards</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">21</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.6</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Privileges of Stock Ownership</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">21</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.7</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Governing Law; Severability; Construction</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">21</p>
			</td>
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			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.7.1&nbsp; Choice of Law</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">21</p>
			</td>
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			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.7.2&nbsp; Dispute Resolution</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">22</p>
			</td>
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			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.7.3&nbsp; Severability</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">22</p>
			</td>
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			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>
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			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.7.4&nbsp; Plan Construction</p>
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			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">22</p>
			</td>
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			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.8</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Stock-Based Awards in Substitution for Stock Options or Awards Granted by Other Corporation</p>
			</td>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">23</p>
			</td>
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			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.9</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Non-Exclusivity of Plan</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">23</p>
			</td>
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			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.10</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">No Corporate Action Restriction</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">23</p>
			</td>
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		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.11</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Other Company Benefit and Compensation Programs</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">24</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.12</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Restrictive Covenants</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">24</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.13</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Clawback</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">24</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align: middle; width: 4%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">10.14</p>
			</td>
			<td style="vertical-align: middle; width: 87%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Captions</p>
			</td>
			<td style="vertical-align: middle; width: 5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">24</p>
			</td>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>MESA LABORATORIES, INC.</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>2021 EQUITY INCENTIVE PLAN</b><br>
<br>
(Effective as of August 30, 2021, as amended)</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>1.</b></p>
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			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>ESTABLISHMENT AND PURPOSE OF PLAN</b></p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Mesa Laboratories, Inc., a Colorado corporation (the &#8220;<u>Company</u>&#8221;), hereby establishes the Mesa Laboratories, Inc. 2021 Equity Incentive Plan (the &#8220;<u>Plan</u>&#8221;) as set forth in this document. The purpose of the Plan is to promote the success of the Company and to increase shareholder value by providing an additional means to attract, motivate, retain and reward selected employees, non-employee directors, and other eligible persons through the grant of equity and cash Awards that align the interests of Plan participants with the interests of the Company&#8217;s shareholders.</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>2.</b></p>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>DEFINITIONS</b></p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>2.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">As used in the Plan, the following capitalized terms shall have the meanings set forth below:</p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-indent: 36pt;">(a) &#8220;<u>Administrator</u>&#8221; shall mean the Board or one or more Committees appointed by the Board or another Committee (within that Committee&#8217;s delegated authority) to administer all or certain aspects of this Plan, as set forth in <u>Section</u>&nbsp;<u>3</u> hereof. As of the Effective Date, the Board has appointed the Compensation Committee of the Board as the Administrator of the Plan, and the Compensation Committee of the Board shall serve as Administrator unless and until the Board revokes or modifies such appointment.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(b) &#8220;<u>Affiliate</u>&#8221; shall have the meaning ascribed to such term in Rule&nbsp;12b-2 of the General Rules and Regulations of the Exchange Act.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(c) &#8220;<u>Award</u>&#8221; shall mean any award granted under the Plan, including any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Stock Unit, cash Award, or Other Stock-Based Award.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(d) &#8220;<u>Award Agreement</u>&#8221; shall mean a written or electronic Award agreement between the Company and a Participant evidencing the grant of an Award under the Plan and containing the terms and conditions of such Award, as determined by the Administrator.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(e) &#8220;<u>Board</u>&#8221; shall mean the board of directors of the Company.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(f) &#8220;<u>Cause</u>&#8221; shall have the meaning ascribed to such term in any written agreement between the Participant and the Company or an Affiliate defining such term and, in the absence of such agreement, such term means, with respect to a Participant, the occurrence of any of the following events, in each case as determined by the Administrator:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:59pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp; conviction of a felony (or a crime of comparable magnitude under applicable law) or a crime involving moral turpitude;&nbsp;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:54pt;">(ii)&nbsp;&nbsp;willful and continued gross neglect of duties;&nbsp;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:54pt;">(iii)&nbsp;&nbsp;despite warnings and counseling, repeated willful failure to follow lawful instructions of the Participant&#8217;s supervisor that is, or reasonably could be, materially injurious to the Company;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:54pt;">(vi)&nbsp;&nbsp;any act of personal dishonesty taken by Participant in connection with Participant&#8217;s responsibilities as an employee or Consultant and intended to result in personal enrichment to Participant at the expense of the Company, commission of an act of fraud or theft, or intentional and material falsification of Company records;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:54pt;">(vii) willful misconduct which materially impairs the interests of the Company or its reputation;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:54pt;">(viii) any violation by Participant of the Company&#8217;s anti-harassment or anti-discrimination policies, as set forth in the employee handbook or code of conduct or ethics, as each may be amended from time to time; or</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 36pt;text-indent:54pt;">(ix) Participant&#8217;s material and unapproved violation of the Company&#8217;s code of conduct or ethics, as it may be amended from time to time.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;">Any determination by the Administrator whether an event constituting Cause has occurred will be final, binding and conclusive. For purposes of this definition, the term &#8220;Company&#8221; shall be interpreted to include any Subsidiary, Affiliate, or parent of the Company, as appropriate.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(g) &#8220;<u>Change of Control</u>&#8221; shall mean and shall be deemed to have occurred upon the occurrence of any one of the following:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(1)&nbsp;&nbsp;&nbsp;&nbsp;the consummation of any consolidation, merger, share exchange or other similar transaction involving the Company unless following such consolidation, merger, share exchange or other similar transaction, more than fifty percent (50%) of the combined voting power of the then outstanding voting securities of the continuing or resulting entity, or parent thereof, is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners of at least fifty percent (50%) of the then outstanding Common Stock and/or other voting securities of the Company immediately prior to such consolidation, merger, share exchange or other similar transaction, in substantially the same proportion as their ownership of the Company immediately prior to such consolidation, merger, share exchange or other similar transaction;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(2)&nbsp;&nbsp;&nbsp;&nbsp;any sale, lease, exchange or transfer (in one transaction or series of related transactions) of all or substantially all of the assets of the Company (a&nbsp;&#8220;<u>Disposition</u>&#8221;); <i>provided</i>, <i>however</i>, that the foregoing shall not apply to any Disposition to a corporation or other entity with respect to which, following</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 126pt; text-align: left; text-indent: 0pt;">such Disposition, more than fifty percent (50%) of the combined voting power of the then outstanding voting securities of such corporation or other entity (or parent thereof) is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners of at least fifty percent (50%) of the then outstanding Common Stock and/or other voting securities of the Company immediately prior to such Disposition, in substantially the same proportion as their ownership of the Company immediately prior to such Disposition;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(3)&nbsp;&nbsp;&nbsp;&nbsp;approval by the shareholders of the Company of any plan or proposal for the liquidation or dissolution of the Company;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(4)&nbsp;&nbsp;&nbsp;&nbsp;the acquisition by any &#8220;person&#8221; (as such term is used in Sections&nbsp;13(d) and 14(d)(2) of the Exchange), or two (2) or more persons acting in concert, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of the outstanding shares of voting stock of the Company; <i>provided</i>, <i>further</i> that the foregoing shall exclude any such acquisition (A) by any person made directly from the Company, (B) made by the Company or any Affiliate, (C) made by an employee benefit plan (or related trust) sponsored or maintained by the Company or any Affiliate; or</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(5)&nbsp;&nbsp;&nbsp;&nbsp;the following individuals cease to constitute a majority of the Board: (A) those individuals were members of the Board on the Effective Date, and (B) any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the Company&#8217;s shareholders was approved by a vote of a majority of the directors then still in office who either were directors on the Effective Date, or whose appointment, election or nomination for election was previously so approved.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;text-indent:36pt;">If the occurrence of a Change of Control is a payment event for an Award that is &#8220;non-qualified deferred compensation&#8221; subject to Section 409A, then a Change of Control will be deemed to have occurred only if the transaction is also a &#8220;change in ownership&#8221; or &#8220;change in effective control of&#8221; the Company or a &#8220;change in the ownership of a substantial portion of the assets of&#8221; the Company as determined under Treasury Regulation Section 1.409A-3(i)(5).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(h) &#8220;<u>Code</u>&#8221; shall mean the Internal Revenue Code of 1986, as amended.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(i) &#8220;<u>Committee</u>&#8221; shall mean the Compensation Committee of the Board, or such other Committee of the Board to which administration of the Plan, or a part of the Plan, has been duly delegated as permitted by applicable law and in accordance with the Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(j) &#8220;<u>Common Stock</u>&#8221; shall mean the common stock of the Company, no par value, and such other securities or property as may become the subject of Awards under this Plan pursuant to an adjustment made under <u>Section</u>&nbsp;<u>8.1</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(k) &#8220;<u>Company</u>&#8221; shall mean Mesa Laboratories, Inc., a Colorado corporation.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(l) &#8220;<u>Consultant</u>&#8221; means any person engaged as a consultant or advisor of the Company or a Subsidiary for whom a Form S-8 Registration Statement is available for the issuance of securities.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(m) &#8220;<u>Disability</u>&#8221; shall have the meaning ascribed to such term in any written agreement between the Participant and the Company or an Affiliate defining such term and, in the absence of such agreement, such term means that, in each case as determined by the Administrator: means incapacity due to illness or other physical or mental disability of the Participant, resulting in the Participant&#8217;s inability to perform the essential functions of his or her position, with or without reasonable accommodations for more than 180 calendar days in the aggregate during any 365-day period; <i>provided</i> that, in either case, the Participant&#8217;s condition also qualifies as a &#8220;disability&#8221; for purposes of Section 409A with respect to an Award subject to Section 409A. Any uncertainty or dispute regarding the existence of a Disability will be determined by the Administrator.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(n) &#8220;<u>Effective Date</u>&#8221; shall mean the date on which this Plan is approved by the shareholders of the Company.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(o) &#8220;<u>Eligible Person</u>&#8221; shall mean any person who is either: (a)&nbsp;an employee of the Company or one of its Subsidiaries; (b)&nbsp;a non-employee director of the Company or one of its Subsidiaries; or (c)&nbsp;an individual Consultant who renders bona fide services (other than services in connection with the offering or sale of securities of the Company or one of its Subsidiaries in a capital-raising transaction or as a market maker or promoter of securities of the Company or one of its Subsidiaries) to the Company or one of its Subsidiaries; <i>provided, however,</i> that a person who is otherwise an Eligible Person under clause&nbsp;(c) above may participate in this Plan only if such participation would not adversely affect either the Company&#8217;s eligibility to use Form&nbsp;S-8 to register under the Securities Act, the offering and sale of shares issuable under this Plan by the Company, or the Company&#8217;s compliance with any other applicable laws.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(p) &#8220;<u>Exchange Act</u>&#8221; shall mean the Securities Exchange Act of 1934, as amended.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(q) &#8220;<u>Fair Market Value</u>&#8221; shall mean the fair market value of a share of Common Stock as of a particular date, determined as follows: (i) the closing sale price reported for such share of Common Stock for such date on the national securities exchange or national market system on which such stock is principally traded, or if no sale of shares of Common Stock is reported for such trading day, on the last preceding day on which a sale was reported, or (ii) if the shares of Common Stock are not then listed on a national securities exchange or national market system, or the value of such shares is not reasonably determinable in accordance with (i), such value as determined by the Committee in good faith in its sole discretion consistent with the requirements under Section 409A of the Code.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(r) &#8220;<u>Incentive Stock Option</u>&#8221; or &#8220;<u>ISO</u>&#8221; shall mean an Option that is intended to comply with the requirements of Section&nbsp;422 of the Code.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(s) &#8220;<u>Non-Qualified Stock Option</u>&#8221; shall mean an Option that is not intended to comply with the requirements of Section&nbsp;422 of the Code.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(t) &#8220;<u>Normal Retirement</u>&#8221; means, unless otherwise provided in the applicable Award Agreement approved by the Administrator, (1) with respect to an employee, the employee ceases to be an employee (except, in the Administrator&#8217;s sole discretion, for termination by reason of the employee&#8217;s Cause as determined by the Administrator) at or after reaching age 65 and providing either 90 days&#8217; written notice to the Company or the minimum amount of notice required by the Participant&#8217;s employment agreement, severance agreement, or other agreement with the Company, if any, and (2) with respect to a director, the director ceases to be a director (except for termination by reason of the director&#8217;s Cause, as determined by the Administrator) at or after reaching age 65.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(u) &#8220;<u>Option</u>&#8221; shall mean a right to purchase a specified number of shares of Common Stock during a specified period at a pre-established exercise price as determined by the Administrator, granted pursuant to <u>Section</u>&nbsp;<u>6.1.1</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(v) &#8220;<u>Other-Stock Based Award</u>&#8221; shall mean a stock-based Award issued pursuant to <u>Section</u>&nbsp;<u>6.1.7</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(w) &#8220;<u>Participant</u>&#8221; shall mean any Eligible Person that has been issued an Award under the Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(x) &#8220;<u>Performance Stock Unit</u>&#8221; or &#8220;<u>PSU</u>&#8221; shall mean an Award evidencing the right to receive shares of Common Stock or equivalent value (as determined by the Administrator) based on the attainment of certain performance goals, issued pursuant to <u>Section</u>&nbsp;<u>6.1.5</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(y) &#8220;<u>Plan</u>&#8221; shall have the meaning set forth in <u>Section</u>&nbsp;<u>1</u> hereof.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(z) &#8220;<u>Restricted Stock</u>&#8221; shall mean shares of Common Stock that are subject to forfeiture and restrictions on transferability, issued pursuant to <u>Section</u>&nbsp;<u>6.1.3</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(aa) &#8220;<u>Restricted Stock Unit</u>&#8221; or &#8220;<u>RSU</u>&#8221; shall mean an Award evidencing the right to receive one share of Common Stock or equivalent value (as determined by the Administrator) that is restricted or subject to forfeiture provisions, issued pursuant to <u>Section</u>&nbsp;<u>6.1.4</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(bb) &#8220;<u>Section</u>&nbsp;<u>409A</u>&#8221; shall mean section&nbsp;409A of the Code and related Treasury regulations and guidance promulgated thereunder.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(cc) &#8220;<u>Securities Act</u>&#8221; shall mean the Securities Act of 1933, as amended.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(dd) &#8220;<u>Share Limit</u>&#8221; shall have the number of shares available for issuance under the Plan as set forth in <u>Section</u>&nbsp;<u>4.1</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(ee) &#8220;<u>Stock Appreciation Right</u>&#8221; or &#8220;<u>SAR</u>&#8221; shall mean a right to receive the appreciation value on the shares of Common Stock subject to the Award, issued pursuant to <u>Section</u>&nbsp;<u>6.1.2</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(ff) &#8220;<u>Subsidiary</u>&#8221; shall mean any corporation (other than the Company) or other entity controlled by the Company directly or indirectly though one or more intermediaries.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>2.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Construction</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine, the plural shall include the singular, and the singular shall include the plural.</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>PLAN ADMINISTRATION</b>&nbsp;&nbsp;&nbsp;&nbsp;</p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>3.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Plan Administrator.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">This Plan shall be administered by, and all Awards under this Plan shall be authorized by, the Administrator, which shall be the Compensation Committee of the Board (unless changed by the Board). Any Committee appointed by the Board to act as the Administrator shall be comprised solely of one or more directors or such other number of directors as may be required under applicable law and the rules of any applicable stock exchange. A Committee may delegate some or all of its authority to another Committee so constituted. The Board or a Committee acting as the Administrator that is comprised solely of directors may also delegate, to the extent permitted by applicable law and the rules of any applicable stock exchange, to one or more officers of the Company, its powers under this Plan (a)&nbsp;to determine the Eligible Persons who will receive grants of Awards under this Plan, (b)&nbsp;to determine the number of shares subject to, and the other terms and conditions of, such Awards, and (c) determine matters with respect to general administrative affairs. Unless otherwise provided in the bylaws of the Company or the applicable charter of any Administrator: (a)&nbsp;a majority of the members of the acting Administrator shall constitute a quorum, and (b)&nbsp;the affirmative vote of a majority of the members present assuming the presence of a quorum or the unanimous written consent of the members of the Administrator shall constitute due authorization of an action by the acting Administrator.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Notwithstanding anything in this Plan including delegated authority, grants of Awards, and transactions in or involving Awards, intended to be exempt under Rule&nbsp;16b-3 under the Exchange Act, must be duly and timely authorized by the Board or a Committee consisting solely of two or more non-employee directors, as this requirement is applied under Rule&nbsp;16b-3 promulgated under the Exchange Act. Awards granted to non-employee directors shall not be subject to the discretion of any officer or employee of the Company and shall be administered exclusively by the Board or a Committee consisting solely of independent directors.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>3.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Powers of the Administrator.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Subject to the express provisions of this Plan, the Administrator is authorized and empowered to do all things deemed necessary or desirable in connection with the authorization of Awards and the administration of this Plan (in the case of a delegation to a Committee or one or more officers, within the authority delegated to that Committee or person(s)), including, without limitation, the authority to:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;determine eligibility and, from among those persons determined to be eligible, the particular Eligible Persons who will receive Awards under this Plan;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;grant Awards to Eligible Persons, determine the type of Awards to be granted, the price at which securities will be offered or awarded and the number of securities to be offered or awarded to any of such persons, determine the other specific terms and conditions of such Awards consistent with the express limits of this Plan, establish the installments, if any, in which such Awards shall become exercisable or shall vest (which may include, without limitation, performance and/or time-based schedules), or determine that no delayed exercisability or vesting is required, establish any applicable performance targets, and establish the events of termination or reversion of such Awards;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;approve the forms of Award Agreements, which need not be identical either as to type of Award or among Participants;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;construe and interpret this Plan and any Award Agreements defining the rights and obligations of the Company, its Subsidiaries, and Participants under this Plan, further define the terms used in this Plan, and prescribe, amend and rescind rules and regulations relating to the administration of this Plan or the Awards granted under this Plan;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;cancel, modify, amend, or waive the Company&#8217;s rights with respect to, or modify, amend, discontinue, suspend, or terminate any or all outstanding Awards, subject to any required consent under <u>Section</u>&nbsp;<u>10.5.5</u>;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;accelerate or extend the vesting or exercisability or extend the term of any or all outstanding Awards (in the case of Options or Stock Appreciation Rights, within the maximum ten (10)-year term of such Awards) in such circumstances as the Administrator may deem appropriate, including, without limitation, in connection with a termination of employment or services or other events of a personal nature, subject to any required consent under <u>Section</u>&nbsp;<u>10.5.5</u>;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(g)&nbsp;&nbsp;&nbsp;&nbsp;adjust the number of shares of Common Stock subject to any Award, adjust the price of any or all outstanding Awards or otherwise change previously imposed terms and conditions, in such circumstances as the Administrator may deem appropriate, in each case subject to compliance with applicable stock exchange requirements, <u>Sections</u>&nbsp;<u>4</u> and <u>10.5.5</u>, and <i>provided</i> that in no case, except due to an adjustment contemplated by <u>Section</u>&nbsp;<u>8</u>, shall the terms of any outstanding Awards be changed (whether by amendment, cancellation and regrant, or other means) to reduce the per share exercise or base price of any outstanding Option or Stock Appreciation Right or other Award granted under this Plan without shareholder approval, and <i>further</i> <i>provided</i> that any adjustment or change in terms made pursuant to this <u>Section</u>&nbsp;<u>3.2(g)</u> shall be made in a manner that, in the good faith determination of the Administrator will not likely result in the imposition of additional taxes or interest under Section&nbsp;409A;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(h)&nbsp;&nbsp;&nbsp;&nbsp;determine the date of grant of an Award, which may be a designated date after but not before the date of the Administrator&#8217;s action, <i>provided</i> that unless otherwise designated by the Administrator, the date of grant of an Award shall be the date upon which the Administrator took the action granting an Award;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;determine whether, and the extent to which, adjustments are required pursuant to <u>Section</u>&nbsp;<u>8</u> hereof and authorize the termination, conversion, substitution, acceleration or succession of Awards upon the occurrence of an event of the type described in <u>Section</u>&nbsp;<u>8</u>;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(j)&nbsp;&nbsp;&nbsp;&nbsp;acquire or settle rights under Awards in cash, stock of equivalent value, or other consideration, subject to the provision of the Plan; and</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(k)&nbsp;&nbsp;&nbsp;&nbsp;determine the Fair Market Value of the Common Stock or Awards under this Plan from time to time and/or the manner in which such value will be determined.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>3.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Binding Determinations.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Any action taken by, or inaction of, the Company, any Subsidiary, or the Administrator relating or pursuant to this Plan and within its authority hereunder or under applicable law shall be within the absolute discretion of that entity or body and shall be conclusive and binding upon all persons. Neither the Board, the Administrator, nor any Committee, nor any member thereof or person acting at the direction thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with this Plan or any Award made under this Plan, and all such persons shall be entitled to indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense, including, without limitation, legal fees, arising or resulting therefrom to the fullest extent permitted by law. The foregoing right of indemnification shall be in addition to any right of indemnification set forth in the Company&#8217;s certificate of incorporation and bylaws, as the same may be amended from time to time, or under any directors and officers liability insurance coverage or written indemnification agreement with the Company that may be in effect from time to time.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>3.4</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Reliance on Experts.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">In making any determination or in taking or not taking any action under this Plan, the Administrator may obtain and may rely upon the advice of experts, including professional advisors to the Company. The Administrator shall not be liable for any such action or determination taken or made or omitted in good faith based upon such advice.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>3.5</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Delegation of Non-Discretionary Functions.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">In addition to the ability to delegate certain grant authority to officers of the Company as set forth in <u>Section</u>&nbsp;<u>3.1</u>, the Administrator may also delegate ministerial, non-discretionary functions to individuals who are officers or employees of the Company or any of its Subsidiaries or to third parties.</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>SHARES OF COMMON STOCK SUBJECT TO THE PLAN; SHARE LIMIT</b>&nbsp;&nbsp;&nbsp;&nbsp;</p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>4.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Shares of Common Stock Subject to the Plan; Share Limit.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Subject to the adjustment as provided in <u>Sections 8.1</u> and <u>10.8</u>, the maximum number of shares of Common Stock available for issuance under the Plan will be equal 330,000 shares of Common Stock, all of which may be granted, in the sole discretion of the Administrator, as Incentive Stock Options. Common Stock issued under the Plan shall be either authorized but unissued shares of Common Stock or, to the extent permitted, shares of Common Stock that have been reacquired by the Company or any Subsidiary.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>4.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Counting of Shares.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Administrator may adopt reasonable counting procedures to ensure appropriate counting and to avoid double counting (as, for example, in the case of tandem or substitute Awards) as it may deem necessary or desirable in its sole discretion. Shares shall be counted against those reserved to the extent shares have been delivered pursuant to an Award and are no longer subject to a substantial risk of forfeiture. Accordingly, to the extent that an Award under the Plan, in whole or in part, is canceled, expired, forfeited, settled in cash, or otherwise terminated without delivery of shares of Common Stock to the Participant, the shares of Common Stock retained by or returned to the Company will not be deemed to have been delivered under the Plan, as applicable, and will be deemed to remain or become available under this Plan. Notwithstanding the foregoing, shares that are withheld from such an Award or separately surrendered by the Participant in payment of the exercise price or taxes relating to such an Award, and the total number of shares subject to the exercised portion of a stock-settled SAR (regardless of the actual lesser of number shares delivered to the Participant), shall be deemed to have been issued hereunder and shall reduce the number of shares remaining available for issuance under the Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>4.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Reservation of Shares; No Fractional Shares.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Company shall at all times reserve a number of shares of Common Stock sufficient to cover the Company&#8217;s obligations and contingent obligations to deliver shares with respect to Awards then outstanding under this Plan. No fractional shares shall be delivered under this Plan. The Administrator may pay cash in lieu of any fractional shares in settlements of Awards under this Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Administrator may grant Awards under this Plan only to those persons that the Administrator determines to be Eligible Persons. The Administrator shall, in its sole and absolute discretion, select from among the Eligible Persons those individuals who shall receive Awards and become Participants under the Plan. There is no right of any Eligible Person to receive an Award under the Plan, and the Administrator has absolute discretion to treat Eligible Persons differently from one another under the Plan. Receipt of an Award by a Participant shall not create the right to receive future Awards under the Plan, but a Participant who has been granted an Award may, if otherwise eligible, be granted additional Awards if the Administrator shall so determine.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>6.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Type and Form of Awards.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Administrator shall determine the type or types of Award(s) to be made to each selected Eligible Person. Awards may be granted singly, in combination or in tandem. Awards may also be made in combination or in tandem with, in replacement of, as alternatives to, or as the payment form for grants or rights under any other employee or compensation plan of the Company or its Subsidiaries. The types of Awards that may be granted under this Plan are:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>6.1.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Stock Options.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(a)<i>&nbsp;&nbsp;&nbsp;&nbsp;General Option Provisions.</i> Options may only be granted to Eligible Persons for whom the Company would be deemed to be an &#8220;eligible issuer of service recipient stock,&#8221; as defined in Treasury Regulation&nbsp;1.409A-1(b)(5)(iii)(E). An Option may be intended to be an Incentive Stock Option or a</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 72pt; text-align: left;">Non-Qualified Stock Option. The Award Agreement for an Option will indicate if the Option is intended to be an ISO or a Non-Qualified Stock Option. The maximum term of each Option, whether an ISO or a Non-Qualified Stock Option, shall be ten&nbsp;(10)&nbsp;years. The per share exercise price for each Option shall be not less than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the date of grant of the Option. Each Option shall become exercisable at such times and under such conditions and shall be subject to such other terms as may be determined by the Administrator in its discretion. When an Option is exercised, the exercise price for the shares underlying such Option shall be paid in full in cash or such other method permitted by the Administrator consistent with <u>Section</u>&nbsp;<u>6.4</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(b)<i>&nbsp;&nbsp;&nbsp;&nbsp;Additional Rules Applicable to ISOs.</i> Notwithstanding the general Option rules set forth in <u>Section 6.1.1(a)</u>, the following rules shall apply to Options intended to qualify as ISOs. ISOs may only be granted to employees of the Company or its Subsidiaries (for this purpose, the term &#8220;subsidiary&#8221; is used as defined in Section&nbsp;424(f) of the Code, which generally requires an unbroken chain of ownership of at least fifty percent (50%) of the total combined voting power of all classes of stock of each subsidiary in the chain beginning with the Company and ending with the subsidiary in question). To the extent that the aggregate Fair Market Value of shares of Common Stock determined at the time of grant of the applicable Option with respect to which ISOs first become exercisable by a Participant in any calendar year exceeds $100,000, taking into account both Common Stock subject to ISOs under this Plan and stock subject to ISOs under all other plans of the Company or its Subsidiaries or any parent or predecessor corporation, to the extent required by and within the meaning of Section&nbsp;422 of the Code and the regulations promulgated thereunder, such Options shall be treated as Non-Qualified Stock Options. In reducing the number of Options treated as ISOs to meet the $100,000 limit, the most recently granted Options shall be reduced first. To the extent a reduction of simultaneously granted Options is necessary to meet the $100,000 limit, the Administrator may, in the manner and to the extent permitted by law, designate which shares of Common Stock are to be treated as shares acquired pursuant to the exercise of an ISO. An Award Agreement relating to ISOs may contain such other terms and conditions as from time to time are required in order for the Option to be considered an &#8220;incentive stock option,&#8221; as that term is defined in Section&nbsp;422 of the Code. No ISO may be granted to any person who, at the time the Option is granted, owns, or is deemed to own under Section&nbsp;424(d) of the Code, shares of outstanding Common Stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company, unless the exercise price of such option is at least one hundred and ten percent (110%) of the Fair Market Value of the stock subject to the Option and the term of such Option does not exceed five (5) years from the date such Option is granted.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>6.1.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Stock Appreciation Rights.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">A SAR is an Award that entitles the Participant to receive, upon exercise of the SAR, a payment in cash and/or Common Stock, or a combination of the two, equal to, or having a Fair Market Value equal to, the product of (x)&nbsp;number of SARs being exercised multiplied by (y)&nbsp;the excess of (i)&nbsp;the Fair Market</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 72pt; text-align: left;">Value of a share of Common Stock on the date the SAR is exercised, over (ii)&nbsp;the &#8220;base price&#8221; applicable to the SAR. SARs may only be granted to Eligible Persons for whom the Company would be deemed to be an &#8220;eligible issuer of service recipient stock,&#8221; as defined in Treasury Regulation&nbsp;1.409A-1(b)(5)(iii)(E). The base price of the SAR shall be determined by the Administrator but shall be not less than the Fair Market Value of the Company&#8217;s Common Stock on the date of grant. The maximum term of a SAR shall be ten (10)&nbsp;years. SARs shall become exercisable at such times and under such conditions and shall be subject to such other terms as may be determined by the Administrator in its discretion consistent with the terms and conditions of the Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>6.1.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(a)<i>&nbsp;&nbsp;&nbsp;&nbsp;General Restricted Stock Provisions.</i> Restricted Stock is Common Stock subject to such restrictions on transferability, risk of forfeiture and other restrictions, if any, as the Administrator may impose, which restrictions may lapse separately or in combination at such times, under such circumstances (including based on achievement of performance goals and/or future service requirements) and in such installments or otherwise as the Administrator may determine at the date of grant or thereafter. Except to the extent restricted under the terms of this Plan and the applicable Award Agreement relating to the Restricted Stock, a Participant granted Restricted Stock shall have all of the rights of a stockholder of the Company, including the right to vote the Restricted Stock and the right to receive dividends thereon, subject to the provisions of <u>Section</u>&nbsp;<u>6.1.3(c)</u> and <u>Section 6.7</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(b)<i>&nbsp;&nbsp;&nbsp;&nbsp;Certificates for Shares.</i> Shares of Restricted Stock granted under this Plan may be evidenced in such manner as the Administrator shall determine. If certificates representing Restricted Stock are registered in the name of the Participant, the Administrator may require that such certificates bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock, that the Company retain physical possession of the certificates, and that the Participant deliver a stock power to the Company, endorsed in blank, relating to the Restricted Stock. The Administrator may require that shares of Restricted Stock are held in escrow until all restrictions lapse.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(c)<i>&nbsp;&nbsp;&nbsp;&nbsp;Dividends and Splits.</i> As a condition to the grant of an Award of Restricted Stock, any cash dividends paid on shares of Restricted Stock and any stock distributed in connection with a stock split or stock dividend, and any other property distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such dividend or distribution was made. In addition, and subject to applicable law, the Administrator may require or permit a Participant to elect that any cash dividends paid on Restricted Stock be automatically reinvested in additional shares of Restricted Stock or applied to the purchase of additional Awards under this Plan, subject to the same vesting schedule as the Restricted Stock to which the dividend relates.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>6.1.4</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock Units.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(a)<i>&nbsp;&nbsp;&nbsp;&nbsp;Grant of Restricted Stock Units.</i> An RSU represents the right to receive from the Company on the relevant scheduled vesting or payment date for such RSU, one share of Common Stock or, if specified in the applicable Award Agreement, the Fair Market Value of one share of Common Stock paid in cash. The vesting or payment of an Award of RSUs may be subject to the attainment of specified performance goals or targets, forfeitability provisions and such other terms and conditions as the Administrator may determine, subject to the provisions of this Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(b)<i>&nbsp;&nbsp;&nbsp;&nbsp;Dividend Equivalent Accounts.</i> If and only if required by the applicable Award Agreement, the Administrator shall provide dividend equivalent rights with respect to RSUs, in which case the Company shall establish an account for the Participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the shares of Common Stock underlying each RSU. Each amount or other property credited to any such account shall be subject to the same vesting conditions as the RSU to which it relates. In addition, subject to applicable law, the Administrator may require or permit a Participant to elect that any such dividend equivalent amounts credited to the Participant&#8217;s account be automatically deemed reinvested in additional RSUs or applied to the purchase of additional Awards under the Plan, subject to the same vesting schedule as the RSUs to which the dividend equivalent amounts relate. The Participant shall be paid the amounts or other property credited to such dividend equivalent account at the same time as payment of the RSU.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(c)<i>&nbsp;&nbsp;&nbsp;&nbsp;Rights as a Stockholder.</i> Subject to the restrictions imposed under the terms and conditions of this Plan and the applicable Award Agreement, each Participant receiving RSUs shall have no rights as a stockholder of the Company with respect to such RSUs until such time as shares of Common Stock are issued to the Participant. In the event an RSU is settled in cash, the Participant receiving RSUs shall never receive stockholder rights with respect to such Award. No shares of Common Stock shall be issued at the time an RSU is granted, and the Company will not be required to set aside funds for the payment of any such Award.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>6.1.5</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Performance Stock Units.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(a)<i>&nbsp;&nbsp;&nbsp;&nbsp;Grant of Performance Stock Units.</i> A PSU is a performance-based Award that entitles the Participant to receive shares of Common Stock or, if specified in the Award Agreement, the Fair Market Value of such shares of Common Stock paid in cash, based on the attainment of one or more performance goals. Each Award of PSUs shall designate a target number of PSUs covered by the Award, with the actual number of shares of Common Stock earned, if any, to be based on a formula set forth in the Award Agreement related to the attainment of one or more performance goals set forth in the Award Agreement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(b)<i>&nbsp;&nbsp;&nbsp;&nbsp;Dividend Equivalent Accounts.</i> If, and only if, required by the applicable Award Agreement, the Administrator shall pay dividend equivalent rights with respect to PSUs, in which case a Participant shall be entitled to a cash payment with respect to each PSU earned and payable in an amount based on the ordinary cash dividends that would have been payable to the Participant had the Participant been the owner of a number of actual shares of Common Stock equal to the number of PSUs earned, from the date of grant of the PSU Award through the date the PSU is paid. If so determined by the Administrator and set forth in the applicable Award Agreement, such cash amount may be credited with earnings or losses as if deemed reinvested in Common Stock or as if used to purchase additional Awards under the Plan. The amount payable shall be made in a single lump sum on the date on which payment is made in respect of the related PSUs.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(c)<i>&nbsp;&nbsp;&nbsp;&nbsp;Rights as a Stockholder.</i> Subject to the restrictions imposed under the terms and conditions of this Plan and the applicable Award Agreement, each Participant receiving PSUs shall have no rights as a stockholder of the Company with respect to such PSUs until such time as shares of Common Stock are issued to the Participant. In the event a PSU is settled in cash, the Participant receiving PSUs shall never receive stockholder rights with respect to such Award. No shares of Common Stock shall be issued at the time a PSU is granted, and the Company will not be required to set aside funds for the payment of any such Award.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>6.1.6</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Cash Awards.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">&nbsp;The Administrator may, from time to time, subject to the provisions of the Plan and such other terms and conditions as it may determine, grant cash bonuses, including without limitation, discretionary Awards, Awards based on objective or subjective performance criteria, Awards subject to other vesting criteria or Awards granted consistent with <u>Section</u>&nbsp;<u>6.1.7</u> below. Cash Awards may be awarded in such amount and at such times during the term of the Plan as the Administrator shall determine.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>6.1.7</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Other Awards.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">The other types of Awards that may be granted under this Plan include: (a)&nbsp;stock bonuses or similar rights to purchase or acquire shares, whether at a fixed or variable price or ratio related to the Common Stock (subject to compliance with applicable laws), upon the passage of time, the occurrence of one or more events, or the satisfaction of performance criteria or other conditions, or any combination thereof; or (b)&nbsp;any similar securities or rights with a value derived from the value of, or related to, the Common Stock and/or returns thereon.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>6.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Award Agreements.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Each Award, other than cash Awards described in <u>Section</u>&nbsp;<u>6.1.6</u>, shall be evidenced by a written or electronic Award Agreement in the form approved by the Administrator and, if required by the Administrator, shall be executed or accepted by the recipient of the Award. The Administrator may authorize any officer of the Company other than the particular Award recipient to execute any or all Award Agreements on behalf of the Company (electronically or otherwise). The Award Agreement shall set forth the material terms and conditions of the Award as established by the Administrator consistent with the express limitations of this Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Except as otherwise set forth herein, payment of Awards may be in the form of cash, Common Stock, other Awards or combinations thereof as the Administrator shall determine, and with such restrictions as it may impose. The Administrator may also require or permit Participants to elect to defer the issuance of shares of Common Stock or the settlement of Awards in cash under such rules and procedures as it may establish under this Plan. The Administrator may also provide that deferred settlements include the payment or crediting of interest or other earnings on the deferral amounts, or the payment or crediting of dividend equivalents where the deferred amounts are denominated in shares. All mandatory or elective deferrals of the issuance of shares of Common Stock or the settlement of Awards in cash shall be structured in a manner that is intended to comply with, or be exempt from, the requirements of Section&nbsp;409A of the Code.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>6.4</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Consideration for Common Stock or Awards.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The purchase price for any Award granted under this Plan or the Common Stock to be delivered pursuant to an Award, as applicable, may be paid by means of any lawful consideration as permitted by the Administrator subject to compliance with applicable laws, including, without limitation, by one or a combination of the following methods:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;services rendered by the recipient of such Award;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;cash, check, or electronic funds transfer remitted pursuant to such administrative processes (and to such Company designee(s)) as are established by the Administrator;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;notice and third-party payment in such manner as may be authorized by the Administrator;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;by a reduction in the number of shares otherwise deliverable pursuant to the Award; or</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;subject to such procedures as the Administrator may adopt, pursuant to a &#8220;cashless exercise&#8221; with an approved broker or dealer who provides financing for the purposes of, or who otherwise facilitates, the purchase or exercise of Awards.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Company will not be obligated to deliver any shares with respect to any Award unless and until it receives full payment of the exercise or purchase price therefor and any related withholding amounts under <u>Section</u>&nbsp;<u>9.1</u>, and any other conditions to exercise or purchase, as established from time to time by the Administrator, have been satisfied. Unless otherwise expressly provided in the applicable Award Agreement, the Administrator may at any time eliminate or limit a Participant&#8217;s ability to pay the purchase or exercise price of any Award by any method other than cash payment.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>6.5</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Transfer Restrictions.</i></b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 72pt;"><b>6.5.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Limitations on Exercise and Transfer.</i></b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 72pt;">Unless otherwise expressly provided in or pursuant to this <u>Section</u>&nbsp;<u>6.5</u>, or by applicable law or by an Award Agreement, as the same may be amended, (a)&nbsp;all Awards are non-transferable by the Participant and shall not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance or charge; (b)&nbsp;Awards shall be exercised only by the Participant; and (c)&nbsp;amounts payable or shares issuable pursuant to any Award shall be delivered only to or for the account of the Participant.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>6.5.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Exceptions.</i></b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 72pt; text-indent: 0pt;">The Administrator may permit Awards to be exercised by and paid to, or otherwise transferred to, other persons or entities pursuant to such conditions and procedures, including limitations on subsequent transfers, as the Administrator may in its sole discretion establish in writing; <i>provided</i> that any such transfers of ISOs shall be limited to the extent permitted under the federal tax laws governing ISOs. Any permitted transfer shall be subject to compliance with applicable federal and state securities laws.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>6.5.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Further Exceptions to Limits on Transfer.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">The exercise and transfer restrictions in <u>Section</u>&nbsp;<u>6.5.1</u> shall not apply to:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;transfers to the Company,</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;the designation of a beneficiary to receive benefits in the event of the Participant&#8217;s death or, if the Participant has died, transfers to or exercise by the Participant&#8217;s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent and distribution,</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;subject to any applicable limitations on ISOs, transfers to a current or former family member pursuant to a domestic relations order if approved or ratified by the Administrator,</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;subject to any applicable limitations on ISOs, if the Participant has suffered a Disability, permitted transfers or exercises on behalf of the Participant by his or her legal representative, or</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;the authorization by the Administrator of &#8220;cashless exercise&#8221; procedures with approved brokers or dealers who provide financing for the purpose of, or who otherwise facilitate, the exercise of Awards consistent with applicable laws and the express authorization of the Administrator.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>6.6</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;International Awards.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">One or more Awards may be granted to Eligible Persons who provide services to the Company or one of its Subsidiaries outside of the United States. Any Awards granted to such persons may, if deemed necessary or advisable by the Administrator, be granted pursuant to the terms and conditions of any applicable sub-plans, if any, appended to this Plan and approved by the Administrator.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>6.7</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Dividend and Dividend Equivalents.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Notwithstanding anything to the contrary herein, in no event may accrued dividends or dividend equivalents with respect to any Award issued under the Plan be paid prior to the vesting of the Award to which they relate.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>6.8</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Minimum Vesting Schedule.</i></b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;">Except as provided below, all Awards granted under the Plan shall have a minimum one year cliff vesting schedule meaning that no portion of any Award may be scheduled to vest prior to one year after the date of grant of such Award. Notwithstanding the foregoing, up to five percent (5%) of the total number of shares of Common Stock authorized by the Board and the stockholders for issuance under the Plan may be granted pursuant to Awards not subject to the minimum vesting schedule described above. The Administrator may adopt reasonable counting procedures to determine whether the five percent (5%) limit in the preceding sentence has been attained. The Administrator may also apply reasonable rules and rounding conventions to determine whether an Award complies with the above-referenced minimum vesting schedule.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>7.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Termination of Employment.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>7.1.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Administrator Determination.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">The Administrator shall establish the effect of a termination of employment or service on the rights and benefits under each Award under this Plan and in so doing may make distinctions based upon, inter alia, the cause of termination and type of Award. If the Participant is not an employee of the Company or one of its Subsidiaries and provides other services to the Company or one of its Subsidiaries, the Administrator shall be the sole judge for purposes of this Plan, unless a contract or the Award Agreement otherwise provides, of whether the Participant continues to render services to the Company or one of its Subsidiaries and the date, if any, upon which such services shall be deemed to have terminated.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>7.1.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;General.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">For any Award issued under the Plan, unless the Award Agreement or this Plan provides otherwise, the portion of such Award that is unvested at the time that a Participant&#8217;s employment or service is terminated for any or no reason shall be forfeited and reacquired by the Company; <i>provided however,</i> that the Administrator may provide, by rule or regulation or in any Award Agreement, employment agreement, severance letter, severance plan, or may determine in any individual case, that such forfeiture requirement shall be waived in whole or in part.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>7.1.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Stock Options and SARs.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">For Awards of Options or SARs, unless the Award Agreement provides otherwise, the exercise period of such Options or SARs shall expire on (i) the sooner of the end of the stated term, or (ii) the last day of the applicable time period below:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;90 days after the last day that the Participant is employed by, or provides services to, the Company or its Subsidiaries; <i>provided however</i>, that in the event of the Participant&#8217;s death during this period, those persons entitled to exercise the Option or SAR pursuant to the laws of descent and distribution shall have one (1) year following the date of the Participant&#8217;s death within which to exercise such Option or SAR;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;twelve (12)&nbsp;months after the last day that the Participant is employed by, or provides services to, the Company or a Subsidiary in the case of a Participant whose termination of employment or service is due to death or Disability; and</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;2 days after a Participant&#8217;s termination for Cause.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">The Administrator will, in its absolute discretion, determine the effect of all matters and questions relating to a termination of a Participant&#8217;s employment or service, including, but not limited to, the question of whether a leave of absence constitutes a termination of employment or service and whether a Participant&#8217;s termination is for Cause.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>7.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Normal Retirement.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Unless otherwise provided in an Award Agreement approved by the Administrator, upon termination of employment by reason of the Participant&#8217;s Normal Retirement, all unvested Awards held by the Participant shall vest immediately as to service requirements, all service-based restrictions thereon shall lapse, and any performance-based awards for which the performance period is not yet complete shall be deemed to have been earned at actual performance as determined at the end of the performance period in accordance with the applicable Award Agreement. All equity Awards that are options (i.e., all of them -- those that vest upon Normal Retirement, and those that vested previously) will be exercisable beginning on their scheduled vesting dates and will remain exercisable thereafter for their full remaining original term as set forth in the Award Agreement. All time-vested Awards shall be settled at the time set forth in the applicable Award Agreement as if employment did not terminate, subject to any delay for &#8220;specified employees&#8221; that may be required in accordance with the Section 409A rules. All performance-based Awards, shall also be settled and paid at the time set forth in the applicable Award Agreement as if employment did not terminate, subject to any delay for &#8220;specified employees&#8221; that may be required in accordance with the Section 409A rules.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>7.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Events Not Deemed Terminations of Service.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Unless the express policy of the Company or any of its Subsidiaries or the Administrator otherwise provides, the employment relationship shall not be considered terminated in the case of (a)&nbsp;sick leave, (b)&nbsp;military leave, or (c)&nbsp;any other paid leave of absence authorized by the Company or one of its Subsidiaries, or the Administrator; <i>provided</i> that unless reemployment upon the expiration of such leave is guaranteed by contract or law, such leave is for a period of not more than three (3)&nbsp;months. In the case of any employee of the Company or one of its Subsidiaries on an approved leave of absence, continued vesting of the Award while on leave from the employ of the Company or one of its Subsidiaries may be suspended until the employee returns to service, unless the Administrator otherwise provides or applicable law otherwise requires. In no event shall an Award be exercised after the expiration of the term set forth in the Award Agreement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>7.4</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Change in Time Commitment.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">In the event a Participant&#8217;s regular level of time commitment in the performance of his or her services for the Company or any Subsidiaries is reduced (for example, and without limitation, if the Participant is an employee of the Company and the Participant has a change in status from full-time to part-time or takes an extended leave of absence) after the date of grant of any Award, the Administrator, in its sole discretion, may (a) make a corresponding reduction in the number of shares or cash amount subject to any portion of such Award that is scheduled to vest or become payable after the date of such change in time commitment, and (b) in lieu of or in combination with such a reduction, extend the vesting schedule applicable to such Award in accordance with Section 409A, as applicable. In the event of any such reduction, the Participant will have no right with respect to any portion of the Award that is so amended.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>7.4</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Effect of Change of Subsidiary Status.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">For purposes of this Plan and any Award, if an entity ceases to be a Subsidiary of the Company, a termination of employment or service shall be deemed to have occurred with respect to each Eligible Person in respect of such Subsidiary who does not continue as an Eligible Person in respect of the Company or another Subsidiary that continues as such after giving effect to the transaction or other event giving rise to the change in status.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>8.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Adjustments.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Upon or in connection with (a)&nbsp;any reclassification, recapitalization, stock split (including a stock split in the form of a stock dividend) or reverse stock split, (b)&nbsp;any merger, arrangement, combination, consolidation, or other reorganization, (c)&nbsp;any spin-off, split-up, or similar extraordinary dividend distribution in respect of the Common Stock, whether in the form of securities or property, or (d)&nbsp;any exchange of Common Stock or other securities of the Company, or any similar unusual or extraordinary corporate event or transaction affecting the Common Stock, the Administrator shall in such manner, to such extent and at such time as it deems appropriate and equitable in the circumstances, but subject to compliance with applicable laws and stock exchange requirements, proportionately adjust any or all of (1)&nbsp;the number and type of shares of Common Stock or other securities that thereafter may be made the subject of Awards, including the Share Limit and the limit on the number of ISOs issuable under the Plan, (2)&nbsp;the number, amount and type of shares of Common Stock or other securities or property subject to any or all outstanding Awards, (3)&nbsp;the grant, purchase or exercise price, including the base price of any SAR or similar right, of any or all outstanding Awards, and (4)&nbsp;the securities, cash or other property deliverable upon exercise or payment of any outstanding Awards. Any adjustment made pursuant to this <u>Section</u>&nbsp;<u>8.1</u> shall be made in a manner that, in the good faith determination of the Administrator, will not likely result in the imposition of additional taxes or interest under Section&nbsp;409A of the Code. With respect to any Award of an ISO, the Administrator may make an adjustment that causes the Option to cease to qualify as an ISO without the consent of the affected Participant. Any determinations made by the Administrator pursuant to this <u>Section</u>&nbsp;<u>8.1</u> shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of Common Stock of any class or securities convertible into shares of Common Stock of any class shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an Award.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>8.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Effect of a Change on Control.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The provisions of this <u>Section 8.2</u> shall apply in the case of a Change of Control, unless otherwise provided in the Award Agreement or any special Plan document or separate agreement with a Participant governing an Award. If a Change of Control occurs, all unvested equity awards held by the Participant shall vest immediately, all restrictions thereon shall lapse, and any performance-based awards for which the performance period is not yet complete shall be deemed to have been earned at the higher of target level or actual performance through the date of the Change in Control, based on the performance metrics set forth in the applicable Award Agreement (with metrics adjusted to account for the truncated performance period). All equity awards that are Options or SARs (i.e., all of them -- those that vest upon Change of Control, and those that vested previously) that are assumed, substituted or otherwise continued as part of the Change in Control transaction will be exercisable for their full remaining term under the applicable Award Agreement; <i>provided</i>, however, that nothing in this <u>Section 8.2</u> shall require that the Administrator provide for the substitution, assumption or continuation of Options or SARs following the Change of Control, and the Administrator may in its discretion provide for the expiration of Options or SARs upon the occurrence of the Change of Control (with a reasonable opportunity and notice to Participants to exercise such expiring Awards) or for the cash-out of Option or SAR awards as part of the Change of Control transaction. All time-vested awards other than Options or SARs shall be settled as soon as reasonably practicable and in all events within ten (10) days of the Change in Control. All performance-based awards (i.e., all of them -- those that vest upon Change of Control, and those that vested previously) shall be settled and paid to the Participant within 60 days after the Change of Control.</p>

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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>TAX PROVISIONS</b>&nbsp;&nbsp;&nbsp;&nbsp;</p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>9.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Tax Withholding.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Upon any exercise, vesting, or payment of any Award, the Company or one of its Subsidiaries shall have the right at its option to:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;require the Participant, or the Participant&#8217;s personal representative or beneficiary, as the case may be, to pay or provide for payment of at least the minimum amount of any taxes which the Company or its Subsidiaries may be required to withhold with respect to such Award event or payment; or</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;deduct from any amount otherwise payable in cash to the Participant, or the Participant&#8217;s personal representative or beneficiary, as the case may be, the minimum amount of any taxes which the Company or its Subsidiaries may be required to withhold with respect to such cash payment.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">In any case where a tax is required to be withheld in connection with the delivery of shares of Common Stock under this Plan, the Administrator may in its sole discretion, subject to <u>Section</u>&nbsp;<u>10.1</u>, grant (either at the time of the Award or thereafter) to the Participant the right to elect, pursuant to such rules and subject to such conditions as the Administrator may establish, to have the Company reduce the number of shares to be delivered by or otherwise reacquire the appropriate number of shares (valued in a consistent manner at their Fair Market Value or at the sales price in accordance with authorized procedures for cashless exercises) necessary to satisfy the applicable withholding obligation on exercise, vesting or payment, not in excess of the maximum statutory rates in the Participant&#8217;s applicable jurisdictions.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>9.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Requirement of Notification of Code Section</i></b>&nbsp;<b><i>83(b) Election.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">If any Participant shall make an election under Section&nbsp;83(b) of the Code (to include in gross income in the year of transfer the amounts specified in Section&nbsp;83(b) of the Code) or under a similar provisions of the laws of a jurisdiction outside the United States, such Participant shall notify the Company of such election within ten (10)&nbsp;days after filing notice of the election with the Internal Revenue Service or other government authority, in addition to any filing and notification required pursuant to regulations issued under Code Section&nbsp;83(b) or other applicable provision.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>9.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Requirement of Notification of Disqualifying Disposition.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">If any Participant shall make any disposition of shares of Common Stock delivered to the Participant pursuant to the exercise of an ISO under the circumstances described in Code Section&nbsp;421(b) relating to certain disqualifying dispositions, such Participant shall notify the Company of such disposition within ten (10)&nbsp;days thereof.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Laws.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">This Plan, the granting and vesting of Awards under this Plan, the offer, issuance and delivery of shares of Common Stock, and the payment of money under this Plan or under Awards are subject to compliance with all applicable federal and state laws, rules and regulations and to such approvals by any applicable stock exchange listing, regulatory or governmental authority as may, in the opinion of the counsel for the Company, be necessary or advisable in connection therewith. The person acquiring any securities under this Plan will, if requested by the Company or any of its Subsidiaries, provide such assurances and representations to the Company or any of its Subsidiaries as the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Future Awards/Other Rights.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">No person shall have any claim or rights to be granted an Award or additional Awards under this Plan, subject to any express contractual rights set forth in a document other than this Plan to the contrary.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;No Employment/Service Contract.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Nothing contained in this Plan or in any other documents under this Plan or in any Award Agreement shall confer upon any Eligible Person or Participant any right to continue in the employ or other service of the Company or any of its Subsidiaries, nor shall any of the foregoing constitute any contract or agreement of employment or other service or affect an employee&#8217;s status as an employee at-will, nor shall any of the foregoing interfere in any way with the right of the Company or its Subsidiaries to change a person&#8217;s compensation or other benefits or to terminate his or her employment or other service, with or without Cause. Nothing in this <u>Section</u>&nbsp;<u>10.3</u>, however, is intended to adversely affect any express independent right of such person under a separate employment or service contract other than an Award Agreement.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.4</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Plan Not Funded.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Awards payable under this Plan shall be payable in shares of Common Stock or from the general assets of the Company, and no special or separate reserve, fund or deposit shall be made to assure payment of such Awards. No Participant, beneficiary or other person shall have any right, title or interest in any fund or in any specific asset) of the Company or any of its Subsidiaries (including shares of Common Stock, except as expressly otherwise provided by reason of any Award hereunder. Neither the provisions of this Plan or of any related documents, nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan shall create, or be construed to create, a trust of any kind or a fiduciary relationship between the Company or any of its Subsidiaries and any Participant, beneficiary or other person. To the extent that a Participant, beneficiary or other person acquires a right to receive payment pursuant to any Award hereunder, such right shall be no greater than the right of any unsecured general creditor of the Company.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 10pt;text-indent:36pt;"><b>10.5</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Effective Date, Termination and Suspension, Amendments.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>10.5.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Effective Date and Termination.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">This Plan was approved by the Board and is effective upon such Board approval; provided, however, that the Plan and any Awards issued thereunder are subject to approval by the stockholders of the Company at the Company&#8217;s next annual meeting of stockholders, and both the Plan and any Award issued</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">thereunder shall cease to have any force or effect if such stockholder approval is not obtained. Unless earlier terminated by the Board, this Plan shall terminate at the close of business ten (10) years after the date on which it was approved by the Board, which is May 27, 2031. After the termination of this Plan either upon such stated expiration date or its earlier termination by the Board, no additional Awards may be granted under this Plan, but previously granted Awards and the authority of the Administrator with respect thereto, including the authority to amend such Awards, shall remain outstanding in accordance with their applicable terms and conditions and the terms and conditions of this Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>10.5.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Amendment; Termination.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">The Board may, at any time, terminate or, from time to time, amend, modify or suspend this Plan, in whole or in part. No Awards may be granted during any period that the Board suspends this Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>10.5.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Stockholder Approval.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">To the extent then required by applicable law or any applicable stock exchange rule or as may be required to preserve the intended tax consequences of this Plan, or if deemed necessary or advisable by the Board, this Plan and any amendment to this Plan shall be subject to approval by the shareholders of the Company.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>10.5.4</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Amendments to Awards.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">Without limiting any other express authority of the Administrator under, but subject to, the express limits of this Plan, the Administrator may by agreement or resolution waive conditions of or limitations on Awards to Participants that the Administrator in the prior exercise of its discretion has imposed, without the consent of a Participant, and, subject to the requirements of <u>Sections</u>&nbsp;<u>3.2</u> and <u>10.5.5</u>, may make other changes to the terms and conditions of Awards, without the consent of a Participant. Any amendment or other action that would constitute a repricing of an Award is subject to the limitations and stockholder approval requirements set forth in <u>Section</u>&nbsp;<u>3.2(g)</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>10.5.5</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Limitations on Amendments to Plan and Awards.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">No amendment, suspension or termination of this Plan or change of or affecting any outstanding Award shall, without written consent of the Participant, affect in any manner materially adverse to the Participant any rights or benefits of the Participant or obligations of the Company under any Award granted under this Plan. Changes, settlements and other actions contemplated by <u>Section</u>&nbsp;<u>8</u> shall not be deemed to constitute changes or amendments for purposes of this <u>Section</u>&nbsp;<u>10.5.5</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.6</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Privileges of Stock Ownership.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Except as otherwise expressly authorized by the Administrator or this Plan, a Participant shall not be entitled to any privilege of stock ownership as to any shares of Common Stock not actually delivered to and held of record by the Participant. Except as expressly provided herein, no adjustment will be made for dividends or other rights as a stockholder of the Company for which a record date is prior to such date of delivery.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.7</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Governing Law; Severability; Construction.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>10.7.1</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Choice of Law.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">This Plan, the Awards, all documents evidencing Awards and all other related documents shall be governed by and construed in accordance with the laws of the State of Colorado.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>10.7.2</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Dispute Resolution.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">Any action arising from or relating in any way to this Plan, the Awards, all documents evidencing Awards and all other related documents, shall be resolved and tried in the state courts situated in Jefferson County, Colorado or in the United States District Court for the District of Colorado. Participant consents to jurisdiction and venue of those courts to the greatest extent allowed by law. In this regard, the Participant acknowledges and admits to all or a combination of several following substantial contacts with Colorado: (v) the Participant is employed, provides services for or otherwise is affiliated with a legal entity headquartered in the state of Colorado; (w) the Participant receives compensation in a form of employee checks or wire transfers that may be drawn either directly or indirectly, from bank accounts in Colorado; (x) the Participant regularly interacts with, contacts and is contacted by Company employees in Colorado; (y) the Participant either routinely travels to or attends business meetings in Colorado; and (z) the Participant receives compensation and benefits as a result of the Company being a corporation headquartered in and subject to the laws of Colorado. Based on these and other contacts, the Participant acknowledges that he or she could reasonably be subject to the laws of Colorado. The parties shall be responsible for their own costs and expenses under this <u>Section 10.7.2</u>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;">EACH OF THE PARTIES HERETO HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION WITH THIS PLAN, ALL DOCUMENTS EVIDENCING AWARDS AND ALL OTHER RELATED DOCUMENTS.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>10.7.3</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Severability.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;">If a court of competent jurisdiction holds any provision of this Plan or any Award Agreement invalid and unenforceable, the remaining provisions of this Plan or the Award Agreement shall continue in effect and the Plan shall be construed and enforced without regard to the illegal or invalid provision.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 36pt;text-indent:36pt;"><b>10.7.4</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Plan Construction.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(a)<i>&nbsp;&nbsp;&nbsp;&nbsp;Rule</i>&nbsp;<i>16b-3.</i> It is the intent of the Company that the Awards and transactions permitted by the Awards be interpreted in a manner that, in the case of Participants who are or may be subject to Section&nbsp;16 of the Exchange Act, qualify, to the maximum extent compatible with the express terms of the Award, for exemption from matching liability under Rule&nbsp;16b-3 promulgated under the Exchange Act. Notwithstanding the foregoing, the Company shall have no liability to any Participant for Section&nbsp;16 consequences of Awards or events if an Award or event does not so qualify.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(b)<i>&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Section</i>&nbsp;<i>409A of the Code.</i> The Board intends that, except as may be otherwise determined by the Administrator, any Awards under the Plan will be either exempt from, or satisfy the requirements of, Section&nbsp;409A to avoid the imposition of any taxes, including additional income or penalty taxes, thereunder. If the Administrator determines that an Award, Award Agreement, acceleration, adjustment to the terms of an Award, payment, distribution, deferral election, transaction or any other action or arrangement contemplated by the provisions of the Plan would, if undertaken, cause a Participant&#8217;s Award to violate Section&nbsp;409A, unless the Administrator expressly determines otherwise, such Award, Award Agreement, payment, acceleration, adjustment, distribution, deferral election, transaction or other action or arrangement shall not be undertaken and the related provisions of the Plan and/or Award Agreement will be deemed modified or, if necessary, rescinded in order to comply with the requirements of Section&nbsp;409A to the extent determined by the Administrator without the consent of or notice to the Participant. Notwithstanding the foregoing, neither the Company nor the Administrator shall have any obligation to take any action to prevent the assessment of any excise tax or penalty on any Participant under Section&nbsp;409A.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 72pt;text-indent:36pt;">(c)<i>&nbsp;&nbsp;&nbsp;&nbsp;No Guarantee of Favorable Tax Treatment.</i> Although the Company intends that Awards under the Plan will be exempt from, or will comply with, the requirements of Section&nbsp;409A of the Code, the Company does not warrant that any Award under the Plan will qualify for favorable tax treatment under Section&nbsp;409A of the Code or any other provision of federal, state, local or foreign law. The Company shall not be liable to any Participant for any tax, interest or penalties the Participant might owe as a result of the grant, holding, vesting, exercise or payment of any Award under the Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.8</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Stock-Based Awards in Substitution for Stock Options or Awards Granted by Other Corporation.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Awards may be granted to Eligible Persons in substitution for or in connection with an assumption of employee stock options, stock appreciation rights, restricted stock or other stock-based awards granted by other entities to persons who are or who will become Eligible Persons in respect of the Company or one of its Subsidiaries, in connection with a distribution, arrangement, business combination, merger or other reorganization by or with the granting entity or an affiliated entity, or the acquisition by the Company or one of its Subsidiaries, directly or indirectly, of all or a substantial part of the stock or assets of the employing entity. The Awards so granted need not comply with other specific terms of this Plan, provided the Awards reflect only adjustments giving effect to the assumption or substitution consistent with the conversion applicable to the Common Stock in the transaction and any change in the issuer of the security. Any shares that are delivered and any Awards that are granted by, or become obligations of, the Company, as a result of the assumption by the Company of, or in substitution for, outstanding Awards previously granted by an acquired company or previously granted by a predecessor employer (or direct or indirect parent thereof) in the case of persons that become employed by the Company or one of its Subsidiaries in connection with a business or asset acquisition or similar transaction, shall not be counted against the Share Limit or other limits on the number of shares available for issuance under this Plan, except as may otherwise be provided by the Administrator at the time of such assumption or substitution or as may be required to comply with the requirements of any applicable stock exchange.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.9</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Non-Exclusivity of Plan.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Nothing in this Plan shall limit or be deemed to limit the authority of the Board or the Administrator to grant Awards or authorize any other compensation, with or without reference to the Common Stock, under any other plan or authority.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.10</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;No Corporate Action Restriction.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The existence of this Plan, the Award Agreements and the Awards granted hereunder shall not limit, affect or restrict in any way the right or power of the Board or the stockholders of the Company to make or authorize: (a)&nbsp;any adjustment, recapitalization, reorganization or other change in the capital structure or business of the Company or any Subsidiary, (b)&nbsp;any merger, arrangement, business combination, amalgamation, consolidation or change in the ownership of the Company or any Subsidiary, (c)&nbsp;any issue of bonds, debentures, capital, preferred or prior preference stock ahead of or affecting the capital stock (or the rights thereof) of the Company or any Subsidiary, (d)&nbsp;any dissolution or liquidation of the Company or any Subsidiary, (e)&nbsp;any sale or transfer of all or any part of the assets or business of the Company or any Subsidiary, or (f)&nbsp;any other corporate act or proceeding by the Company or any Subsidiary. No Participant, beneficiary or any other person shall have any claim under any Award or Award Agreement against any member of the Board or the Administrator, or the Company or any employees, officers or agents of the Company or any Subsidiary, as a result of any such action.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.11</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Other Company Benefit and Compensation Programs.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Payments and other benefits received by a Participant under an Award made pursuant to this Plan shall not be deemed a part of a Participant&#8217;s compensation for purposes of the determination of benefits under any other employee welfare or benefit plans or arrangements, if any, provided by the Company or any Subsidiary, except where the Administrator expressly otherwise provides or authorizes in writing, or except as otherwise specifically set forth in the terms and conditions of such other employee welfare or benefit plan or arrangement. Awards under this Plan may be made in addition to, in combination with, as alternatives to or in payment of grants, Awards or commitments under any other plans or arrangements of the Company or its Subsidiaries.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.12</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Restrictive Covenants.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Participant&#8217;s right to exercise or receive payment under any Awards that remain outstanding after termination of employment are conditioned on Participant&#8217;s compliance with any restrictive covenant (including non-competition agreement or non-solicitation agreement), confidentiality, intellectual property protection, or assignment of inventions agreements between the Participant and the Company or an Affiliate. In addition, the Company may retain the right in an Award Agreement to cause a forfeiture of the gain realized by a Participant on account of actions taken by the Participant in violation or breach of or in conflict with any restrictive covenant (including non-competition agreement or non-solicitation agreement), confidentiality, or assignment of inventions agreements with respect to the Company or any Affiliate, to the extent specified in such Award Agreement applicable to the Participant.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.13</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Clawback.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">All Awards pursuant to this Plan are subject to &#8220;clawback&#8221; obligations pursuant to applicable law, rules, and regulations including Nasdaq (or other national securities exchange, if applicable) listing rules.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:36pt;"><b>10.14</b><b><i>&nbsp;&nbsp;&nbsp;&nbsp;Captions.</i></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Captions and headings are given to the sections and subsections of this Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Plan or any provision thereof.</p>

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<DOCUMENT>
<TYPE>EX-10.37
<SEQUENCE>4
<FILENAME>ex_279432.htm
<DESCRIPTION>EXHIBIT 10.3.7- FORM OF STOCK OPTION AWARD AGREEMENT
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.37</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Note: Do not sign and return this document to the Company.<b> </b>By clicking on the &#8220;ACCEPT&#8221; box, you acknowledge that you have read the information below and agree to be bound by the terms of the Plan and this Agreement.<b> Please provide such acceptance within ninety (90) days of the Grant Date. </b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Mesa Laboratories, Inc. </b><br>
<b>2021 Equity Incentive Plan</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>Stock Option Award Agreement</u></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Date</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Name</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Address 1</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Address 2</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Dear ____________:</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">We are pleased to inform you that Mesa Laboratories, Inc. (the&nbsp;&#8220;<u>Company</u>&#8221;) has granted to you an option (the &#8220;<u>Option</u>&#8221;) to purchase the number of shares of the Company&#8217;s Common Stock (&#8220;<u>Shares</u>&#8221;) indicated in this Stock Option Award Agreement (this&nbsp;&#8220;<u>Agreement</u>) at the exercise price set forth below, pursuant to the Company&#8217;s 2021 Equity Incentive Plan (the &#8220;<u>Plan</u>&#8221;). The grant of the Option is subject to and governed by the Plan generally, and all capitalized terms not defined herein shall have the meanings given to such terms in the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 5pt;">Grant Date&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __________</p>

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<table border="0" cellpadding="0" cellspacing="0" style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 100%;">

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			<td style="vertical-align:top;width:30%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Shares of Common Stock Covered by Option</p>
			</td>
			<td style="vertical-align: top; width: 967px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">__________ Shares</p>
			</td>
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			<td style="vertical-align:top;width:30%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Type of Option</p>
			</td>
			<td style="vertical-align: top; width: 967px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Non-Qualified Stock Option</p>
			</td>
		</tr>
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			<td style="vertical-align:top;width:30%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Exercise Price</p>
			</td>
			<td style="vertical-align: top; width: 967px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$______ per Share, which is intended to be no less than the Fair Market Value per Share on the Grant Date.</p>
			</td>
		</tr>
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			<td style="vertical-align:top;width:30%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Vesting Schedule</p>
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			<td style="vertical-align: top; width: 967px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>General</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Except as set forth below, your Option shall vest in accordance with the following schedule, subject to your Continuous Service (as defined below) with the Company or its Subsidiaries through each applicable Vesting Date.</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>[Vesting Dates]</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>[Dates Shares Become Exercisable]</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;<u>Continuous Service</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">For purposes of this Agreement, the term &#8220;<u>Continuous Service</u>&#8221;&nbsp;shall mean your uninterrupted service to the Company or any Subsidiary as an employee, non-employee director, or consultant. The Administrator shall determine in its discretion whether and when your Continuous Service has ended (including as a result of any leave of absence); provided, however, that your Continuous Service shall not be deemed to have ended in the event you retire or otherwise terminate as an employee but continue to perform services for the Company as a non-employee director or consultant.</p>
			</td>
		</tr>
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			<td style="vertical-align:top;width:30%;">&nbsp;</td>
			<td style="vertical-align: top; width: 967px;">&nbsp;</td>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Expiration Date</p>
			</td>
			<td style="vertical-align: top; width: 967px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Six (6) years from the Grant Date.</p>
			</td>
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			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Termination of Continuous Service</p>
			</td>
			<td style="vertical-align: top; width: 967px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Except as set forth below in the Section entitled &#8220;Other Agreements,&#8221;&nbsp;the following shall apply in the event of your termination of Continuous Service.</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>General</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In the event of your termination of Continuous Service with the Company or its Subsidiaries for any reason other than death, Disability, Normal Retirement, or for Cause, the unvested portion of the Option shall automatically be forfeited immediately, and the vested portion of your Option shall expire ninety (90) days after the last day of your Continuous Service; provided, however, that in the event of your death during this post-termination period, those persons entitled to exercise the Option pursuant to the laws of descent and distribution shall have one (1) year following the date of your death within which to exercise the vested portion of your Option. In no event may the Option be exercised after the Expiration Date.</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>Death or Disability</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In the event of your termination of Continuous Service with the Company or its Subsidiaries as a result of death or Disability, the unvested portion of the Option shall automatically be forfeited immediately, and the vested portion of your Option will expire twelve (12) months after the last day of your Continuous Service. In no event may the Option be exercised after the Expiration Date.</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>Normal Retirement</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In the event of your termination of Continuous Service as a result of Normal Retirement, any unvested portion of the Option shall remain outstanding and shall become exercisable on the Vesting Date on which it otherwise would have become exercisable had you not terminated Continuous Service, and the entirety of the Option (i.e. whether then vested or unvested) shall expire on the Expiration Date.</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>Cause</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In the event of your termination of Continuous Service with the Company or its Subsidiaries for Cause, the unvested portion of the Option shall automatically be forfeited immediately, and the vested portion of your option shall expire two (2) days after your termination of Continuous Service. In no event may the Option be exercised after the Expiration Date.</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:30%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Change of Control</p>
			</td>
			<td style="vertical-align: top; width: 967px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The provisions of Section 8.2 of the Plan shall apply upon the occurrence of a Change of Control.</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:30%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Other Agreements</p>
			</td>
			<td style="vertical-align: top; width: 967px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The terms of this Option, including the provisions above regarding your termination of Continuous Service, are subject to and are modified by any contrary terms in any employment agreement, severance letter, of similar agreement between you and the Company that may be in effect from time to time (an &#8220;<u>Other Agreement</u>&#8221;).</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:30%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Other Terms and Conditions</p>
			</td>
			<td style="vertical-align: top; width: 967px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Are set forth in the accompanying Option Award Terms and Conditions and the Plan.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>Online Acceptance of Stock Option Award Agreement</u></b></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">By your online acceptance, you and the Company agree that the Option granted hereby is granted under and governed by the terms and conditions of this Agreement and the accompanying Option Award Terms and Conditions (the &#8220;<u>Award Documents</u>&#8221;), and the terms of the Plan. You hereby represent and acknowledge that you have been provided the opportunity to review the Plan and the Award Documents in their entirety, and you hereby agree to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and the Award Documents.<b><u>Option Award Terms and Conditions</u></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The following terms and conditions apply to the Option granted to you by the Company, as specified in the accompanying Stock Option Award Agreement (the &#8220;<u>Award Agreement</u>&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Award of Option</u>. The Company has issued to you an Option covering the number of Shares set forth above in the Award Agreement, at the exercise price set forth in the Award Agreement. The Award is effective on the Grant Date and is subject to the terms and conditions set forth in the Award Agreement and these Option Award Terms and Conditions (together, the &#8220;<u>Award Documents</u>&#8221;), and the Plan (which is incorporated herein by reference).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting</u>. Unless otherwise provided in the Plan, your Option shall vest and become exercisable in accordance with the Vesting Schedule and/or upon the other events set forth in the Award Agreement or as set forth in the &#8220;Other Agreements&#8221; section of the Award Agreement. As the Option becomes exercisable for one or more installments, the installments shall accumulate, and the Option shall remain exercisable until the Option expires or terminates in accordance with the terms hereof or the terms of the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Exercise</u>. Your Option, to the extent vested, may be exercised by delivery of notice to the stock plan administrative agent of the Company designated by the Administrator, through the agent&#8217;s website or by using such other forms or mechanisms as may be specified by the agent. The notice shall specify the number of Shares for which the Option is exercised and shall specify the manner in which the Shares should be registered and the manner in which you are paying the exercise price and satisfying applicable tax withholding requirements. The notice of exercise will be effective when it is received, although processing of the exercise may be delayed until the next business day on which the Company is generally open for business, if received after business hours or on a non-business day. Anyone exercising the Option after your death must provide appropriate documentation to the satisfaction of the Company that the individual is entitled to exercise the Option.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment of Exercise Price; Issuance of Shares</u>. The exercise price may be paid in cash or cash equivalents, and, to the extent permitted by the Administrator at the time of exercise, in any other method set forth in Section 6.4 of the Plan. Upon receipt of the exercise price, the Company (either directly or through its&#8217; agent) shall issue the purchased Shares to you in the manner set forth in your notice of exercise, in written or electronic format as selected by the Administrator in its discretion.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Term; Expiration Date</u>. Your Option shall expire at 2:30 P.M. Mountain Time on the Expiration Date set forth in the Award Agreement, unless sooner terminated in accordance with the Award Agreement (such as upon your termination of Continuous Service) or the terms of an Other Agreement or the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Representations</u>. The Administrator may require you (or your estate or heirs) to represent and warrant in writing that the individual exercising the Option is acquiring Shares for investment and without any present intention to distribute such Shares, and to make such other representations as are deemed necessary or appropriate by the Company.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Stockholder Rights</u>. You and your estate or heirs shall not have any rights as a stockholder of the Company until you become the holder of record of such Shares, and no adjustments shall be made for dividends or other distributions or other rights as to which there is a record date prior to the date you become the holder of record of such Shares unless specifically provided otherwise in the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Requirements</u>. The transfer of any Shares hereunder shall be effective only at such time as the Company shall have determined that the issuance and delivery of such Shares is in compliance with all applicable laws and the requirements of any securities exchange on which the Shares are then traded. You acknowledge that Shares acquired upon exercise of the Option may bear such legends as the Company deems appropriate to comply with applicable federal, state or foreign securities laws. In connection therewith and prior to the issuance of the Shares, you may be required to deliver to the Company such other documents as may be reasonably necessary to ensure compliance with applicable laws.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Treatment; Section 409A</u>. You may incur tax liability as a result of the exercise of your Option. You should consult your own tax adviser for tax advice. You acknowledge that the Administrator, in the exercise of its sole discretion and without your consent, may amend or modify the Award Documents in any manner and delay the payment of any amounts payable pursuant to the exercise of your Option to the minimum extent necessary to satisfy the requirements of Section 409A. The Company will provide you with notice of any such amendment or modification. This Section 9 does not, and shall not be construed so as to, create any obligation on the part of the Company to adopt any such amendments or to take any other actions or to indemnify you for any failure to do so.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Withholding</u>. You shall make appropriate arrangements with the Company&#8217;s agent to provide for payment of any federal, state, local or foreign taxes of any kind required by law to be withheld with respect to your Option. Such arrangements may include, but are not limited to, payment of the withholding amount by you in cash, withholding from proceeds of the sale of Shares acquired upon exercise either through a voluntary sale or through a mandatory sale arranged by the Company&#8217;s agent (on your behalf pursuant to this authorization without further consent), non-discretionary withholding by the Company&#8217;s agent of Shares that would otherwise be issuable to you upon exercise, or voluntary Share withholding as described below. Voluntary Share withholding is subject to the prior approval of the Administrator, which may be withheld by the Administrator in its sole discretion. If approved, you may elect to satisfy the statutory withholding obligations, in whole or in part, by having the Company&#8217;s agent withhold Shares otherwise issuable to you upon exercise of your Option. The Shares delivered or withheld shall have an aggregate fair market value not in excess of the maximum statutory rates in your applicable jurisdictions. The fair market value of the Shares used to satisfy the withholding obligation shall be determined by the Company&#8217;s agent as of the date on which taxation occurs. Shares used to satisfy any tax withholding obligation must be vested and cannot be subject to any repurchase, forfeiture, or other similar requirements. Any election by you to have Shares withheld shall be irrevocable, made in writing (or electronically), signed by you (including electronically), and shall be subject to any restrictions or limitations that the Administrator in its sole discretion deems appropriate. Further, if you become subject to tax in more than one jurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, you acknowledge that the Company (or former employer, as applicable) may be required to withhold or account for any federal, state, local or foreign taxes of any kind in more than one jurisdiction.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgements</u>. If you reside outside the U.S., the following additional provisions shall apply:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:72pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;the Option and the Shares subject to the Option are not intended to replace any pension rights;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:72pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;no claim or entitlement to compensation or damages shall arise from forfeiture of the Option resulting from termination of your Continuous Service by the Company or its Subsidiaries (whether or not in breach of employment laws in the country where you resides or are employed or provide services or the terms of your employment agreement, if any, and whether or not later found to be invalid) and in consideration of the grant of the Option to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company or its Subsidiaries, waive your ability, if any, to bring any such claim, and release the Company and its Subsidiaries from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claims;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:72pt;">c.&nbsp;&nbsp;&nbsp;&nbsp;in the event of termination of your employment or service (regardless of the reason for such termination and whether or not in breach of employment laws in the country where you reside or are employed or provide services or the terms of your employment agreement, if any, and whether or not later found to be invalid), your right to vest in the Option under the Plan, if any, will terminate effective as of the date that you are no longer actively providing services and will not be extended by any notice period mandated under employment laws in the country where you reside or are employed or provide services (e.g., active employment would not include any contractual notice period or any period of &#8220;garden leave&#8221; or similar period mandated under employment laws in the country in which you reside or are employed or provide services or the terms of your employment agreement, if any); furthermore, in the event of termination of your employment (whether or not in breach of employment laws in the country where you reside or are employed or provide services or the terms of your employment agreement, if any, and whether or not later to be found invalid), your right to exercise the Option after termination of employment or service, if any, will be measured by the date of termination of your active services and will not be extended by any notice period mandated under employment laws in the country in which you reside or are employed or provide services or the terms of your employment agreement, if any; the Administrator shall have the exclusive discretion to determine when you are no longer actively providing services for purposes of the Option grant (including whether you may still be considered actively providing services while on an approved leave of absence);</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:72pt;">d.&nbsp;&nbsp;&nbsp;&nbsp;the Option and the Shares subject to the Option are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to the Company or its Subsidiaries, and are outside the scope of your employment or service contract, if any; and</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 0pt;text-indent:72pt;">e.&nbsp;&nbsp;&nbsp;&nbsp;neither the Company nor any Subsidiary or Affiliate shall be liable for any foreign exchange rate fluctuation between your local currency and the United States Dollar that may affect the value of the Option or of any amounts due to you pursuant to the exercise of the Option or the subsequent sale of any Shares acquired upon exercise.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Personal Information</u>. The Company and its Subsidiaries may collect, store, disclose, use, or otherwise process certain personal information about you for the purpose of managing and administering the Plan, such as your name, home address and telephone number, date of birth, social security number or other employee identification number, email address, salary, nationality, job title, any shares or directorships held in the Company, details of all Options and other equity awards or any other entitlement to shares awarded, canceled, purchased, vested, unvested or outstanding in your favor (&#8220;<u>Data</u>&#8221;). The Company and/or its Subsidiaries may disclose Data among themselves as necessary for the purpose of implementation, administration and management of your participation in the Plan and the Company and/or any of its Subsidiaries may each further disclose Data to any third parties assisting the Company in the implementation, administration and management of the Plan, including the Company&#8217;s stock plan administrative agent and the Plan recordkeeper. These recipients may be located throughout the world, including the United States. You understand and agree that these parties may receive, possess, use, retain, transfer, and otherwise process the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer or disclosure of such Data as may be required for the administration of the Plan and/or the subsequent holding of shares on your behalf to a broker or other third party with whom you may elect to deposit any shares acquired pursuant to the Plan. Notwithstanding anything to the contrary in this Section 12, you acknowledge and agree that the Company and its Subsidiaries may also collect, store, use, disclose, and otherwise process your Data where such processing is necessary to comply with a legal obligation, for the Company or its Subsidiaries&#8217; legitimate business purposes, or with your consent if applicable law requires consent. You may, at any time, request to access, correct, delete or restrict processing of your Data by contacting the Company in writing. Applicable law may allow or require the Company to refuse to provide you with access to, delete or restrict processing of some or all of the Data that the Company or its Subsidiaries hold about you, or the Company or its Subsidiaries may have destroyed, erased, or made such Data anonymous in accordance with applicable record retention obligations and practices. If the Company cannot provide you with access to, delete or restrict processing of your Data, the Company will inform you of the reasons why, subject to any legal or regulatory restrictions. For more information on the processing of your Data, contact your human capital representative.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Employee Benefits</u>. Except as specifically provided otherwise in any relevant employee benefit plan, program, or arrangement, the Option evidenced hereby is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Delivery</u>. BY YOUR ELECTRONIC ACCEPTANCE OF THIS AWARD, YOU HEREBY CONSENT TO ELECTRONIC DELIVERY OF THE PLAN, AND ANY DISCLOSURE OR OTHER DOCUMENTS RELATED TO THE PLAN, INCLUDING FUTURE AWARD DOCUMENTS (COLLECTIVELY, THE &#8220;<u>PLAN DOCUMENTS</u>&#8221;). THE COMPANY (THROUGH ITS&#8217; STOCK PLAN ADMINISRATIVE AGENT) MAY DELIVER THE PLAN DOCUMENTS ELECTRONICALLY TO YOU BY E-MAIL, BY POSTING SUCH DOCUMENTS ON THE AGENT&#8217;S WEBSITE OR BY ANOTHER MODE OF ELECTRONIC DELIVERY AS DETERMINED BY THE COMPANY&#8217;S AGENT IN ITS SOLE DISCRETION. YOU ACKNOWLEDGE THAT YOU ARE ABLE TO ACCESS, VIEW AND RETAIN AN E-MAIL ANNOUNCEMENT INFORMING YOU THAT THE PLAN DOCUMENTS ARE AVAILABLE IN EITHER HTML, PDF OR SUCH OTHER FORMAT AS THE COMPANY&#8217;S AGENT DETERMINES IN ITS SOLE DISCRETION.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice required or permitted to be given hereunder shall be in writing and shall be given by hand delivery, by e-mail, by facsimile, or by first class registered or certified mail, postage prepaid, addressed, if to the Company, to its Corporate Secretary, and if to you, to your address now on file with the Company, or to such other address as either may designate in writing. Any notice shall be deemed to be duly given as of the date delivered in the case of personal delivery, e-mail, or facsimile, or as of the second day after enclosed in a properly sealed envelope and deposited, postage prepaid, in a United States post office, in the case of mailed notice.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment</u>. Except as provided herein, the Award Documents may not be amended or otherwise modified unless evidenced in writing and signed by the Company and you.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Relationship to Plan</u>. Nothing in the Award Documents shall alter the terms of the Plan. If there is a conflict between the terms of the Plan and the terms of the Award Documents, the terms of the Plan shall prevail.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction; Severability</u>. The section headings contained herein are for reference purposes only and shall not in any way affect the meaning or interpretation of the Award Documents. The invalidity or unenforceability of any provision of the Award Documents shall not affect the validity or enforceability of any other provision hereof, and each other provision hereof shall be severable and enforceable to the extent permitted by law.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver</u>. Any provision contained in the Award Documents may be waived, either generally or in any particular instance, by the Administrator appointed under the Plan, but only to the extent permitted under the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Effect</u>. The Award Documents shall be binding upon and inure to the benefit of the Company and to you and your respective heirs, executors, administrators, legal representatives, successors and assigns.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights to Employment or Service</u>. Nothing contained in the Award Documents shall be construed as giving you any right to be retained in the Continuous Service of the Company or any of its Subsidiaries and the Award Documents are limited solely to governing your rights and obligations with respect to your Option.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp; &nbsp; 22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. The Award Documents shall be governed by and construed in accordance with the laws of the State of Colorado, without regard to the choice of law principles thereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Policies to Apply; Potential Clawback</u>. The sale of any shares of Common Stock received as a result of the exercise of your Option is subject to the Company&#8217;s policies regulating securities trading by employees, all relevant federal and state securities laws and the listing requirements of any stock exchange on which the shares of the Company&#8217;s Common Stock are then traded. In addition, your participation in the Plan and your receipt of remuneration as a result of the Option granted to you is subject in all respects to any laws, rules, and regulations related to the clawback of compensation that may be in effect from time to time.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:9pt;">24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 409A Compliance</u>. The Option granted hereunder are intended to be exempt from the requirements of Section 409A, and the Award Documents shall be interpreted and administered in a manner consistent with such intent. You shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on you in connection with the Option granted hereunder (including any taxes and penalties under Section 409A), and neither the Company nor any of its affiliates shall have any obligation to indemnify or otherwise hold you harmless from any or all of such taxes or penalties.</p>

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<DOCUMENT>
<TYPE>EX-10.38
<SEQUENCE>5
<FILENAME>ex_279433.htm
<DESCRIPTION>EXHIBIT 10.3.8 - FORM OF RSU AWARD AGREEMENT
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.38</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Note: Do not sign and return this document to the Company. By <b>clicking on the </b>&#8220;<b>ACCEPT</b>&#8221;<b> box</b>, you acknowledge that you have read the information below and agree to be bound by the terms of the Plan and this Agreement. <b>Please provide such acceptance within ninety (90) days of the Grant Date.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Mesa Laboratories Inc. </b><br>
<b>2021 Equity Incentive Plan</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>Restricted Stock Unit Award Agreement</u></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Date</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Name</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Address 1</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Address 2</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Dear ____________:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">We are pleased to inform you that Mesa Laboratories, Inc. (the &#8220;<u>Company</u>&#8221;) has made an award of restricted stock units (the &#8220;<u>Restricted Stock Units</u>&#8221;) to you as indicated in this Restricted Stock Unit Award Agreement (this &#8220;<u>Agreement</u>&#8221;). The award of Restricted Stock Units is made pursuant to the Company&#8217;s 2021 Equity Incentive Plan (the &#8220;<u>Plan</u>&#8221;) and is subject to and governed by the Plan generally. All capitalized terms not defined herein shall have the meanings given to such terms in the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Grant Date&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;______________________</p>

<p>Number of Restricted Stock Units&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;_____________________<br>
&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 253px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">Vesting Schedule</p>
			</td>
			<td style="width: 1087px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><u>General</u></p>

			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">Except as set forth below, your Restricted Stock Units shall vest in accordance with the following schedule, subject to your Continuous Service (as defined below) with the Company or its Subsidiaries through each applicable Vesting Date.</p>

			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 162pt; text-indent: -135pt;"><u>Vesting Date</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>RSUs that Vest</u></p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: -135pt;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 162pt; text-indent: -135pt;">[Tranche 1 Date]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[% of total]</p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: -135pt;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 162pt; text-indent: -135pt;">[Tranche 2 Date]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[% of total]</p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: -135pt;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 162pt; text-indent: -135pt;">[Tranche 3 Date]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[% of total]</p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: -135pt;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">For purposes of this Agreement, the term &#8220;<u>Continuous Service</u>&#8221; shall mean your uninterrupted service to the Company or any Subsidiary as an employee, non-employee director, or consultant. The Administrator shall determine in its discretion whether and when your Continuous Service has ended (including as a result of any leave of absence); provided, however, that your Continuous Service shall not be deemed to have ended in the event you retire or otherwise terminate as an employee but continue to perform services for the Company as a non-employee director or consultant.</p>
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</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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		<tr>
			<td style="vertical-align: top; width: 255px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Termination of Continuous<br>
			Service</p>
			</td>
			<td style="vertical-align: top; width: 1084px;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>General</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Except as set forth below or in the Section entitled &#8220;Other Agreements,&#8221;&nbsp;any unvested Restricted Stock Units shall be automatically forfeited immediately upon the termination of your Continuous Service with the Company or its Subsidiaries for any or no reason.</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>Normal Retirement Age</u></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In the event your termination of Continuous Service as a result or Normal Retirement, any unvested portion of the Restricted Stock Unit shall remain outstanding and shall vest on the Vesting Date on which it otherwise would have vested had you not terminated Continuous Service.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 256px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">Payment</p>
			</td>
			<td style="width: 1084px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">The Company shall issue to you one share of Common Stock for each Restricted Stock Unit that vests hereunder, with the delivery of such Common Stock to occur within ten (10) business days following the applicable Vesting Date; provided, however, that in no event shall you be able to designate (directly or indirectly) the taxable year in which the Common Stock is delivered to you.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 255px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">Change&nbsp;of Control</p>
			</td>
			<td style="width: 1085px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">The provisions of Section 8.2 of the Plan shall apply upon the occurrence of a Change of Control.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 256px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">Other&nbsp;Agreements</p>
			</td>
			<td style="width: 1084px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">The terms of this Restricted Stock Unit Award, including the provisions above regarding your termination of Continuous Service, are subject to and are modified by any contrary terms in any employment agreement, severance letter, of similar agreement between you and the Company that may be in effect from time to time (an &#8220;<u>Other Agreement</u>&#8221;).</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

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			<td style="width: 256px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">Other&nbsp;Terms and Conditions</p>
			</td>
			<td style="width: 1084px;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">Are set forth in the accompanying Restricted Stock Unit Award Terms and Conditions and the Plan.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>Online Acceptance of Restricted Stock Unit Award Agreement</u></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">By your online acceptance, you and the Company agree that the Restricted Stock Units granted hereby are granted under and governed by the terms and conditions of this Restricted Stock Unit Award Agreement and the accompanying Restricted Stock Unit Award Terms and Conditions (the &#8220;<u>Award Documents</u>&#8221;), and the terms of the Plan. You hereby represent and acknowledge that you have been provided the opportunity to review the Plan and the Award Documents in their entirety, and you hereby agree to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and the Award Documents.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 4pt;"><b><u>Restricted Stock Unit Award Terms and Conditions</u></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 4pt;text-indent:36pt;">The following terms and conditions apply to the Restricted Stock Units granted to you by the Company, as specified in the accompanying Restricted Stock Unit Award Agreement (the &#8220;<u>Award</u> <u>Agreement</u>&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Award of Restricted Stock Units</u>. The Company has issued to you the number of Restricted Stock Units set forth above in the Award Agreement, effective on the Grant Date, and subject to the terms and conditions set forth in the Award Agreement and these Restricted Stock Unit Award Terms and Conditions (together, the &#8220;<u>Award Documents</u>&#8221;), and the Plan (which is incorporated herein by reference).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restricted Stock Units Non-Transferable</u>. Restricted Stock Units (and related rights) may not be sold, assigned, alienated, transferred by gift or otherwise, pledged, hypothecated, or otherwise disposed of, by operation of law or otherwise. Any attempt to assign, alienate, transfer, pledge, sell or otherwise dispose of the Restricted Stock Units or its related rights shall be ineffective and, if any such attempt is made, the Restricted Stock Units will be forfeited and all of your rights under the Plan and the Award Documents shall immediately terminate without any payment or consideration by the Company.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting</u>. Unless otherwise provided in the Plan, your Restricted Stock Units shall vest in accordance with the Vesting Schedule and/or upon the other events set forth in the Award Agreement or as set forth in the &#8220;Other Agreements&#8221; section of the Award Agreement.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment</u>. Payment in respect of vested Restricted Stock Units shall be made at the time(s) and in the form(s) set forth in the Award Agreement. Any distribution or delivery to be made to you under the Award Documents will, if you are then deceased, be made to the administrator or executor of your estate. Any such administrator or executor must furnish the Company or its designated agent with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company or its designated agent to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Stockholder Rights</u>. Your and your estate or heirs shall not have any rights as a stockholder of the Company until you become the holder or record of any Shares issued as payment pursuant to Section 4, above, and no adjustments shall be made for dividends or other distributions or other rights as to which there is a record date prior to the date you become the holder of record of such Shares unless specifically provided otherwise in the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Requirements</u>. The transfer of any Shares hereunder shall be effective only at such time as the company shall have determined that the issuance and delivery of such Shares is in compliance with all applicable laws and the requirements of any securities exchange on which the Shares are then traded. You acknowledge that Shares acquired as payment pursuant to Section 4, above, may bear such legends as the Company deems appropriate to comply with applicable federal, state or foreign securities laws. In connection therewith and prior to the issuance of the Shares, you may be required to deliver to the Company such other documents as may be reasonably necessary to ensure compliance with applicable law.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Service; Forfeiture</u>. Upon the termination of your continued employment or service for any reason, any Restricted Stock Units that have not vested or are not eligible to vest in the future in accordance with Section 3 and the Award Agreement (after taking into account the &#8220;Other Agreements&#8221; section of the Award Agreement) shall immediately be forfeited. Upon forfeiture, you shall have no further rights with respect to such Restricted Stock Units.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">8.&nbsp;&nbsp;&nbsp;&nbsp; <u>Tax Treatment; Section 409A</u>. You may incur tax liability as a result of the receipt of Restricted Stock Units and payments thereunder. You should consult your own tax adviser for tax advice. You acknowledge that the Administrator, in the exercise of its sole discretion and without your consent, may amend or modify the Award Documents in any manner, and delay the payment of any amounts thereunder, to the minimum extent necessary to satisfy the requirements of Section 409A. The Company will provide you with notice of any such amendment or modification. This Section 6 does not, and shall not be construed so as to, create any obligation on the part of the Company to adopt any such amendments or to take any other actions or to indemnify you for any failure to do so.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Withholding</u>. You shall make appropriate arrangements with the Company&#8217;s agent to provide for payment of any federal, state, local or foreign taxes of any kind required by law to be withheld in respect of your Restricted Stock Units. Such arrangements may include, but are not limited to, the payment of the withholding amount by you in cash, withholding from proceeds of the sale of Shares acquired as payment for the RSUs either through a voluntary sale or through a mandatory sale arranged by the Company&#8217;s agent (on your behalf pursuant to this authorization without further consent), non-discretionary withholding by the Company&#8217;s agent of Shares that would otherwise be issuable to you as payment in respect of your Restricted Stock Units, or voluntary share withholding as described below. Voluntary Share withholding is subject to the prior approval of the Administrator, which may be withheld by the Administrator in its sole discretion. If approved, you may elect to satisfy the statutory withholding obligations, in whole or in part, by having the Company&#8217;s agent withhold Shares otherwise issuable to you hereunder. The Shares delivered or withheld shall have an aggregate fair market value not in excess of the maximum statutory tax rates in your applicable jurisdictions. The fair market value of the Shares used to satisfy the withholding obligation shall be determined by the Company&#8217;s agent as of the date on which taxation occurs. Shares used to satisfy any tax withholding obligation must be vested and cannot be subject to any repurchase, forfeiture, or other similar requirements. Any election by you to have Shares withheld shall be irrevocable, made in writing (or electronically), signed by you (including electronically), and shall be subject to any restrictions or limitations that the Administrator, in its sole discretion, deems appropriate. Further, if you become subject to tax in more than one jurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, you acknowledge that the Company and/or its Subsidiaries (or former employer, as applicable) may be required to withhold or account for federal, state, local or foreign taxes of any kind in more than one jurisdiction.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgements</u>. If you reside outside the U.S., the following additional provisions shall apply:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not intended to replace any pension rights;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock Units resulting from termination of your employment or services by the Company or its Subsidiaries (whether or not in breach of employment laws in the country where you resides and whether or not later found to be invalid) and in consideration of the Restricted Stock Units to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company or its Subsidiaries, waive your ability, if any, to bring any such claim, and releases the Company and its Subsidiaries from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claims;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">c.&nbsp;&nbsp;&nbsp;&nbsp;in the event of termination of your Continuous Service (regardless of the reason for such termination and whether or not in breach of employment laws in the country where you reside or are employed or provide services or the terms of your employment agreement, if any, and whether or not later found to be invalid), your right to vest in the Restricted Stock Units under the Plan, if any, will terminate effective as of the date that you are no longer actively providing services and will not be extended by any notice period mandated under employment laws in the country where you reside or are employed or provide services (e.g., active employment would not include any contractual notice period or any period of &#8220;garden leave&#8221; or similar period mandated in the country in which you reside or are employed or provide services or the terms of your employment agreement, if any); the Administrator shall have the exclusive discretion to determine when you are no longer actively providing services for purposes of the Restricted Stock Units (including whether or not you may still be considered as actively providing services while on an approved leave of absence);</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">d.&nbsp;&nbsp;&nbsp;&nbsp;the Restricted Stock Units and the Shares subject to the Restricted Stock Units are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to the Company or you, and are outside the scope of your employment or service contract, if any; and</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">e.&nbsp;&nbsp;&nbsp;&nbsp;neither the Company nor any Subsidiary or Affiliate shall be liable for any foreign exchange rate fluctuation between your local currency and the United States Dollar that may affect the value of the Restricted Stock Units or of any amount due to you pursuant to this Award or upon the subsequent sale of Shares acquired hereunder.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:40pt;">9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Personal Information</u>. The Company and its Subsidiaries may collect, store, disclose, use, or otherwise process certain personal information about you for the purpose of managing and administering the Plan, such as your name, home address and telephone number, date of birth, social security number or other employee identification number, e-mail address, salary, nationality, job title, any shares or directorships held in the Company, details of all Restricted Stock Units and other equity awards or any other entitlement to shares awarded, canceled, purchased, vested, unvested or outstanding in your favor (&#8220;<u>Data</u>&#8221;). The Company and/or its Subsidiaries may disclose Data among themselves as necessary for the purpose of implementation, administration and management of your participation in the Plan and the Company and/or any of its Subsidiaries may each further disclose Data to any third parties assisting the Company in the implementation, administration and management of the Plan, including the Company&#8217;s stock plan administrative agent and the Plan recordkeeper. These recipients may be located throughout the world, including the United States. You understand and agree that these parties may receive, possess, use, retain, transfer, and otherwise process the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer or disclosure of such Data as may be required for the administration of the Plan and/or the subsequent holding of shares on your behalf to a broker or other third party with whom you may elect to deposit any shares acquired pursuant to the Plan. Notwithstanding anything to the contrary in this Section 9, you acknowledge and agree that the Company and its Subsidiaries may also collect, store, use, disclose, and otherwise process your Data where such processing is necessary to comply with a legal obligation, for the Company or its Subsidiaries&#8217; legitimate business purposes, or with your consent if applicable law requires consent. You may, at any time, request to access, correct, delete or restrict processing of your Data by contacting the Company in writing. Applicable law may allow or require the Company to refuse to provide you with access to, delete, or restrict processing of some or all of the Data that the Company or its Subsidiaries hold about you, or the Company or its Subsidiaries may have destroyed, erased, or made such Data anonymous in accordance with applicable record retention obligations and practices. If the Company cannot provide you with access to, delete or restrict processing of your Data, the Company will inform you of the reasons why, subject to any legal or regulatory restrictions. For more information on the processing of your Data, contact your human capital representative.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:40pt;">10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Employee Benefits</u>. Except as specifically provided otherwise in any relevant employee benefit plan, program, or arrangement, the Restricted Stock Units evidenced hereby are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:40pt;">11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Delivery</u>. BY YOUR ELECTRONIC ACCEPTANCE OF THIS AWARD, YOU HEREBY CONSENT TO ELECTRONIC DELIVERY OF THE PLAN, AND ANY DISCLOSURE OR OTHER DOCUMENTS RELATED TO THE PLAN, INCLUDING FUTURE AWARD DOCUMENTS (COLLECTIVELY, THE &#8220;<u>PLAN DOCUMENTS</u>&#8221;). THE COMPANY (THROUGH ITS&#8217; STOCK PLAN ADMINISTRATIVE AGENT) MAY DELIVER THE PLAN DOCUMENTS ELECTRONICALLY TO YOU BY E-MAIL, BY POSTING SUCH DOCUMENTS ON THE AGENT&#8217;S WEBSITE OR BY ANOTHER MODE OF ELECTRONIC DELIVERY AS DETERMINED BY THE COMPANY&#8217;S AGENT IN ITS SOLE DISCRETION. YOU ACKNOWLEDGE THAT YOU ARE ABLE TO ACCESS, VIEW AND RETAIN AN E-MAIL ANNOUNCEMENT INFORMING YOU THAT THE PLAN DOCUMENTS ARE AVAILABLE IN EITHER HTML, PDF OR SUCH OTHER FORMAT AS THE COMPANY&#8217;S AGENT DETERMINES IN ITS SOLE DISCRETION.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">12.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice required or permitted to be given hereunder shall be in writing and shall be given by hand delivery, by e-mail, by facsimile, or by first class registered or certified mail, postage prepaid, addressed, if to the Company, to its Corporate Secretary, and if to you, to your address now on file with the Company, or to such other address as either may designate in writing. Any notice shall be deemed to be duly given as of the date delivered in the case of personal delivery, e-mail, or facsimile, or as of the second day after enclosed in a properly sealed envelope and deposited, postage prepaid, in a United States post office, in the case of mailed notice.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">13.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment</u>. Except as provided herein, the Award Documents may not be amended or otherwise modified unless evidenced in writing and signed by the Company and you.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">14.&nbsp;&nbsp;&nbsp;&nbsp;<u>Relationship to Plan</u>. Nothing in the Award Documents shall alter the terms of the Plan. If there is a conflict between the terms of the Plan and the terms of the Award Documents, the terms of the Plan shall prevail.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction; Severability</u>. The section headings contained herein are for reference purposes only and shall not in any way affect the meaning or interpretation of the Award Documents. The invalidity or unenforceability of any provision of the Award Documents shall not affect the validity or enforceability of any other provision hereof, and each other provision hereof shall be severable and enforceable to the extent permitted by law.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">16.&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver</u>. Any provision contained in the Award Documents may be waived, either generally or in any particular instance, by the Administrator appointed under the Plan, but only to the extent permitted under the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">17.&nbsp;&nbsp;&nbsp;&nbsp;<u>Binding Effect</u>. The Award Documents shall be binding upon and inure to the benefit of the Company and to you and your respective heirs, executors, administrators, legal representatives, successors and assigns.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">18.&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights to Employment or Service</u>. Nothing contained in the Award Documents shall be construed as giving you any right to be retained in the Continuous Service of the Company or any of its Subsidiaries and the Award Documents are limited solely to governing your rights and obligations with respect to the Restricted Stock Units.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">19.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. The Award Documents shall be governed by and construed in accordance with the laws of the State of Colorado, without regard to the choice of law principles thereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">20.&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Policies to Apply; Potential Clawback</u>. The sale of any shares of Common Stock received as payment under the Restricted Stock Units is subject to the Company&#8217;s policies regulating securities trading by employees, all relevant federal and state securities laws and the listing requirements of any stock exchange on which the shares of the Company&#8217;s Common Stock are then traded. In addition, participation in the Plan and receipt of remuneration as a result of the Restricted Stock Units is subject in all respects to any laws, rules, and regulations related to the clawback of compensation that may be in effect from time to time.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin: 0pt 0pt 0pt 4pt;text-indent:36pt;">21.&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 409A Compliance</u>. The Restricted Stock Units granted hereunder are intended to comply with or be exempt from the requirements of Section 409A, and the Award Documents shall be interpreted and administered in a manner consistent with such intent. You shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on you in connection with the Restricted Stock Units granted hereunder (including any taxes and penalties under Section 409A), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise hold you harmless from any or all of such taxes or penalties. Notwithstanding anything in the Plan to the contrary, in the event the Restricted Stock Units granted hereunder are &#8220;non-qualified deferred compensation&#8221; subject to Code Section 409A, then in no event may you receive payment in respect of such Restricted Stock Units upon a Change in Control of the Company unless such Change in Control also qualifies as a &#8220;change in control event&#8221; under Treasury Regulation Section 1.409A-3(i)(5) and the payment is otherwise permitted under Code Section 409A.</p>

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<TYPE>EX-23.1
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<DESCRIPTION>EXHIBIT 23.1 CONSENT OF AUDIT FIRM
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 23.1</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Consent of Independent Registered Public Accounting Firm</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">We consent to the incorporation by reference in this Form S-8 Registration Statement of Mesa Laboratories, Inc. of our report dated June 1, 2021 with respect to the consolidated financial statements and the effectiveness of internal control over financial reporting of Mesa Laboratories Inc., appearing in the Annual Report on Form 10-K of Mesa Laboratories, Inc. for the year ended March 31, 2021.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: right;">/s/ Plante &amp; Moran, PLLC</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 288pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;text-indent:18pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Denver, Colorado</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">August 30, 2021</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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