<SEC-DOCUMENT>0001144204-17-033513.txt : 20170622
<SEC-HEADER>0001144204-17-033513.hdr.sgml : 20170622
<ACCEPTANCE-DATETIME>20170622092233
ACCESSION NUMBER:		0001144204-17-033513
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170621
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170622
DATE AS OF CHANGE:		20170622

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAKELAND INDUSTRIES INC
		CENTRAL INDEX KEY:			0000798081
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				133115216
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15535
		FILM NUMBER:		17924140

	BUSINESS ADDRESS:	
		STREET 1:		3555 VETERANS MEMORIAL HIGHWAY
		STREET 2:		SUITE C
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779
		BUSINESS PHONE:		6319819700

	MAIL ADDRESS:	
		STREET 1:		3555 VETERANS MEMORIAL HIGHWAY
		STREET 2:		SUITE C
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v469192_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Date of Report (Date of earliest event reported):
<B>June 21, 2017 </B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 33%; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="padding: 0; width: 34%; text-align: center"><B>0-15535</B></TD>
    <TD STYLE="padding: 0; width: 33%; text-align: center"><B>13-3115216</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center">(State or Other Jurisdiction</TD>
    <TD STYLE="padding: 0; text-align: center">(Commission</TD>
    <TD STYLE="padding: 0; text-align: center">&nbsp;(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center">of Incorporation)</TD>
    <TD STYLE="padding: 0; text-align: center">File Number)</TD>
    <TD STYLE="padding: 0; text-align: center">Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; padding: 0; text-align: center"><B>3555 Veterans Memorial Hwy, Suite C, Ronkonkoma, New York </B></TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center"><B>11779-7410</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center">&nbsp;(Address of principal executive offices)</TD>
    <TD STYLE="padding: 0; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(631) 981-9700</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act(17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (&sect; 230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect; 240.12b-2 of this chapter).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Emerging growth company &#9744;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If 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 13(a) of the Exchange Act. &#9744;</P>

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


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><P STYLE="margin-top: 0; margin-bottom: 0"><B></B></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><B>Item 5.02.</B></P></TD><TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement
of Certain Officers.</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On June 21, 2017, the stockholders of Lakeland
Industries, Inc. (the &ldquo;Company&rdquo;) approved the Lakeland Industries, Inc. 2017 Equity Incentive Plan (the &ldquo;Stock
Plan&rdquo;) at the Annual Meeting of Stockholders. The executive officers and all other employees and directors of the Company
and its subsidiaries are eligible to participate in the Stock Plan. The Stock Plan is administered by the Compensation Committee
of the Company&rsquo;s Board of Directors (the &ldquo;Committee&rdquo;), except that with respect to all non-employee directors,
the Committee shall be deemed to include the full Board. The Stock Plan provides for the grant of equity-based compensation in
the form of stock options, restricted stock, restricted stock units, performance shares, performance units, or stock appreciation
rights. The Stock Plan also permits the grant of awards that qualify for &ldquo;performance-based compensation&rdquo; within the
meaning of Section 162(m) of the U.S. Internal Revenue Code. The Committee has the authority to determine the type of award, as
well as the amount, terms and conditions of each award, under the Stock Plan, subject to the limitations and other provisions of
the Stock Plan. An aggregate of 360,000 shares of the Company&rsquo;s common stock, par value $.01 per share, are authorized for
issuance under the Stock Plan, subject to adjustment as provided in the Stock Plan for stock splits, dividends, distributions,
recapitalizations and other similar transactions or events. If any shares subject to an award are forfeited, expire, lapse or otherwise
terminate without issuance of such shares, such shares shall, to the extent of such forfeiture, expiration, lapse or termination,
again be available for issuance under the Stock Plan. The foregoing summary of the Stock Plan is qualified in its entirety by reference
to the full text of the Stock Plan, filed as Exhibit 4.1 to this Form 8-K and incorporated herein by reference.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 5.07.</B></TD><TD><B>Submission of Matters to a Vote of Security Holders.</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company held its 2017 Annual Meeting
of Stockholders on June 21, 2017. The final results of the voting for each matter submitted to a vote of stockholders at the Annual
Meeting are as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Proposal 1:</I></B> The Board of Directors&rsquo; nominees
for Class I directors were elected to serve for three years expiring at the Company&rsquo;s 2020 Annual Meeting of Stockholders
and until their respective successors are duly elected and qualified, by the votes set forth below:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>Director</U></B></TD>
    <TD STYLE="width: 25%; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>For</U></B></TD>
    <TD STYLE="width: 25%; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>Withheld</U></B></TD>
    <TD STYLE="width: 25%; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>Broker Non-votes</U></B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">Christopher J. Ryan</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center; text-indent: 0">3,484,983</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center; text-indent: 0">89,890</TD>
    <TD ROWSPAN="2" STYLE="padding: 0; text-align: center; text-indent: 0">1,887,966</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">A. John Kreft</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center; text-indent: 0">3,487,121</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center; text-indent: 0">87,752</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Proposal 2:</I></B> The Stockholders ratified the appointment
of Friedman LLP, as the Company&rsquo;s independent registered public accounting firm for the fiscal year ending January 31, 2018,
by the votes set forth below:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 75%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><B><U>For</U></B></TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><B><U>Against</U></B></TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><B><U>Abstain</U></B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4,944,030</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 8.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">490,948</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">27,861</TD></TR>
</TABLE>


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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Proposal 3:&#9;</I></B>The Stockholders approved, on an
advisory basis, compensation of the Company&rsquo;s named executive officers, by the votes set forth below:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding-right: -7.05pt; padding-left: 3.65pt; text-decoration: underline; text-align: center"><B><U>For</U></B></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><B><U>Against</U></B></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><B><U>Abstain</U></B></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><B><U>Broker Non-votes</U></B></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">3,422,865</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">130,609</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">21,399</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1,887,966</TD></TR>
</TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Proposal 4:&#9;</I></B>The Stockholders approved the Lakeland
Industries, Inc. 2017 Equity Incentive Plan, by the votes set forth below:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>For</U></B></TD>
    <TD STYLE="width: 25%; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>Against</U></B></TD>
    <TD STYLE="width: 25%; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>Abstain</U></B></TD>
    <TD STYLE="width: 25%; padding: 0; text-decoration: underline; text-align: center; text-indent: 0"><B><U>Broker Non-votes</U></B></TD></TR>
<TR>
    <TD STYLE="padding: 0; text-align: center">3,284,756</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">260,781</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">29,336</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-align: center; text-indent: 0">1,887,966</TD></TR>
</TABLE>


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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01.</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify"><I>Exhibits</I>.</TD>
</TR></TABLE>

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

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.1</TD><TD>Lakeland Industries, Inc. 2017 Equity Incentive Plan.</TD></TR></TABLE>

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


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

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0">LAKELAND INDUSTRIES, INC.</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 30%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">/s/ Christopher J. Ryan</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Christopher J. Ryan</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">President and Chief Executive Officer</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">Date:&nbsp;&nbsp;June 22, 2017</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DESCRIPTION>EXHIBIT 4.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.1</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2017 EQUITY INCENTIVE PLAN</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
1. </B></FONT><B><U>Purpose; Definitions</U>.</B> The purposes of the Lakeland Industries, Inc. 2017 Equity Incentive Plan (the
&ldquo;<U>Plan</U>&rdquo;) are to: (a) enable Lakeland Industries, Inc. (the &ldquo;<U>Company</U>&rdquo;) and its affiliated companies
to recruit and retain highly qualified employees and directors; (b) provide those employees and directors with an incentive for
productivity; and (c) provide those employees and directors with an opportunity to share in the growth and value of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">For purposes of the Plan, the following terms
will have the meanings defined below, unless the context clearly requires a different meaning:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Affiliate</U>&rdquo; means, with respect to a Person, a Person that directly or indirectly controls, is controlled
by, or is under common control with such Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Applicable Law</U>&rdquo; means the legal requirements relating to the administration of and issuance of securities
under stock incentive plans, including, without limitation, the requirements of state corporations law, federal, state and foreign
securities law, federal, state and foreign tax law, and the requirements of any stock exchange or quotation system upon which the
Shares may then be listed or quoted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Award</U>&rdquo; means an award of Options, Restricted Stock, Restricted Stock Units, Performance Awards, or Stock
Appreciation Rights made under this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Award Agreement</U>&rdquo; means, with respect to any particular Award, the written document that sets forth the
terms of that particular Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>&#9;&ldquo;<U>Base Price</U>&rdquo; means the price used as the basis for determining the Spread upon the exercise of Stock
Appreciation Right.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Board</U>&rdquo; means the Board of Directors of the Company, as constituted from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT> &#9;&ldquo;<U>Cause</U>&rdquo; means with respect to any Participant, unless otherwise defined in the Participant&rsquo;s
employment agreement, Award Agreement, or signed offer letter: (i)&nbsp;the Participant&rsquo;s habitual intoxication or drug addiction;
(ii)&nbsp;the Participant&rsquo;s violation of the Company&rsquo;s written policies, procedures or codes including, without limitation,
those with respect to harassment (sexual or otherwise) and ethics; (iii)&nbsp;the Participant&rsquo;s refusal or willful failure
by the Participant to perform such duties as may reasonably be delegated or assigned to him or her, consistent with his or her
position; (iv)&nbsp;the Participant&rsquo;s willful refusal or willful failure to comply with any requirement of the Securities
and Exchange Commission or any securities exchange or self-regulatory organization then applicable to the Company; (v)&nbsp;the
Participant&rsquo;s willful or wanton misconduct in connection with the performance of his or her duties including, without limitation,
breach of fiduciary duties; (vi)&nbsp;the Participant&rsquo;s breach (whether due to inattention, neglect, or knowing conduct)
of any of the material provisions of his or her employment agreement, if any; (vii)&nbsp;the Participant&rsquo;s conviction of,
guilty, no contest or <I>nolo contendere</I> plea to, or admission or confession to any felony or any act of fraud, misappropriation,
embezzlement or any misdemeanor involving moral turpitude; (viii)&nbsp;the Participant&rsquo;s dishonesty detrimental to the best
interest of the Company; (ix)&nbsp;the Participant&rsquo;s involvement in any matter which, in the opinion of the Company&rsquo;s
Chief Executive Officer (or, in the case of the Chief Executive Officer, the Board), is reasonably likely to cause material prejudice
or embarrassment to the Company&rsquo;s business; or (x)&nbsp;solely in the case of a Non-Employee Director, any other action by
the Participant which the Board determines constitutes &ldquo;cause.&rdquo; Notwithstanding the foregoing, if a Participant and
the Company (or any of its Affiliates) have entered into an employment agreement or other similar agreement that specifically defines
&ldquo;cause,&rdquo; then with respect to such Participant, &ldquo;Cause&rdquo; shall have the meaning defined in such other agreement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT> &#9;&ldquo;<U>Change in Control</U>&rdquo; shall mean the occurrence of any of the following events: (i) any &ldquo;person&rdquo;
(as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes a &ldquo;beneficial owner&rdquo; (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the total
power to vote for the election of directors of the Company; (ii) during any twelve month period, individuals who at the beginning
of such period constitute the Board and any new director (other than a director designated by a person who has entered into an
agreement with the Company to effect a transaction described in <U>Section 1(g)(i)</U>, <U>Section 1(g)(iii)</U>, <U>Section 1(g)(iv</U>)
or <U>Section 1(g)(v)</U> hereof) whose election by the Board or nomination for election by the Company&rsquo;s stockholders was
approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of the
period of whose election or nomination for election was previously approved, cease for any reason to constitute a majority thereof;
(iii) the merger or consolidation of the Company with another corporation where the stockholders of the Company, immediately prior
to the merger or consolidation, will not beneficially own, immediately after the merger or consolidation, shares entitling such
stockholders to 50% or more of all votes to which all stockholders of the surviving corporation would be entitled in the election
of directors (without consideration of the rights of any class of stock to elect directors by a separate class vote); (iv) the
sale or other disposition of all or substantially all of the assets of the Company; (v) a liquidation or dissolution of the Company
or (vi) acceptance by stockholders of the Company of shares in a share exchange if the stockholders of the Company immediately
before such share exchange do not or will not own directly or indirectly immediately following such share exchange more than fifty
percent (50%) of the combined voting power of the outstanding voting securities of the entity resulting from or surviving such
share exchange in substantially the same proportion as their ownership of the voting securities outstanding immediately before
such share exchange. In no event shall a Change in Control be deemed to occur upon (A) an announcement or commencement of a tender
offer, (B) a &ldquo;potential&rdquo; takeover, or (C) stockholder approval of a merger or other transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">With respect to any Award that constitutes
a nonqualified deferred compensation plan within the meaning of Section 409A of the Code and provides for accelerated payment in
connection with a change in control (whether or not in conjunction with a termination of employment), &ldquo;Change in Control&rdquo;
for purposes of such accelerated payment shall mean a Change in Control as described above in this Section that is also a &ldquo;change
in the ownership of a corporation,&rdquo; a &ldquo;change in the effective control of a corporation&rdquo; or a &ldquo;change in
the ownership of a substantial portion of a corporation&rdquo; within the meaning of Section 409A of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Code</U>&rdquo; means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> &#9;&ldquo;<U>Committee</U>&rdquo; means the Compensation Committee of the Board or such other Board committee designated
by the Board to administer the Plan. The Committee shall have at least two members and each member of the Committee shall be a
Non-Employee Director and an Outside Director.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Director</U>&rdquo; means a member of the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Disability</U>&rdquo; shall mean permanent and total disability as defined by Section 22(e)(3) of the Code. Notwithstanding
the foregoing, to the extent required for exemption from or compliance with Section 409A of the Code, &ldquo;Disability&rdquo;
shall have the meaning given such term by Section 409A of the Code, which generally provides that &ldquo;Disability&rdquo; of a
Participant means either (i) the Participant is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous
period of not less than 12 months, or (ii) the Participant is, by reason of any medically determinable physical or mental impairment
that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving
income replacement benefits for a period of not less than three months under an accident and health plan covering the employees
of the Participant's employer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Effective Date</U>&rdquo; is defined in <U>Section 20</U> hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Exchange Act</U>&rdquo; means the Securities Exchange Act of 1934, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Fair Market Value</U>&rdquo; means, as of any date, the value of a Share determined as follows: (i)&nbsp;if the
Shares are listed on any established stock exchange or a national market system, including, without limitation, the Nasdaq Global
Market, the Fair Market Value of a Share will be the closing sales price for such stock as quoted on that system or exchange (or
the system or exchange with the greatest volume of trading in Shares) at the close of regular hours trading on the day of determination;
(ii)&nbsp;if the Shares are regularly quoted by recognized securities dealers but selling prices are not reported, the Fair Market
Value of a Share will be the mean between the high bid and low asked prices for Shares at the close of regular hours trading on
the day of determination; or (iii)&nbsp;if Shares are not traded as set forth above, the Fair Market Value will be determined in
good faith by the Committee taking into consideration such factors as the Committee considers appropriate, such determination by
the Committee to be final, conclusive and binding. Notwithstanding the foregoing, in connection with a Change in Control, Fair
Market Value shall be determined in good faith by the Committee, such determination by the Committee to be final conclusive and
binding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Incentive Stock Option</U>&rdquo; means any Option intended to be an &ldquo;Incentive Stock Option&rdquo; within
the meaning of Section&nbsp;422 of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Non-Employee Director</U>&rdquo; will have the meaning set forth in Rule&nbsp;16b-3(b)(3)(i) promulgated by the
Securities and Exchange Commission under the Exchange Act, or any successor definition adopted by the Securities and Exchange Commission.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(r)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Non-Qualified Stock Option</U>&rdquo; means any Option that is not intended to qualify as an Incentive Stock Option.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(s)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT> &#9;&ldquo;<U>Outside Director</U>&rdquo; means a Director who meets the definition of an &ldquo;outside director&rdquo;
under Section 162(m) of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(t)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> &#9;&ldquo;<U>Option</U>&rdquo; means any option to purchase Shares (including an option to purchase Restricted Stock,
if the Committee so determines) granted pursuant to <U>Section&nbsp;5</U> hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(u)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Participant</U>&rdquo; means an employee or Director of the Company or any of its respective Affiliates to whom
an Award is granted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Performance Award</U>&rdquo; means any Award that, pursuant to <U>Section 9</U>, is granted, vested and/or settled
upon the achievement of specified performance conditions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(w) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Performance
Goals</U>&rdquo; shall mean the performance goals or objectives established by the Committee pursuant to the Plan for Awards which
are intended to be &ldquo;qualified performance-based compensation&rdquo; within the meaning of Section 162(m) of the Code. Performance
Goals may be measured on an absolute or relative basis. Performance Goals shall be limited to specified levels of or increases
in the Company&rsquo;s or Subsidiary&rsquo;s return on equity, diluted earnings per share, total earnings, earnings growth, return
on capital, return on assets, earnings before interest and taxes (&ldquo;EBIT&rdquo;), earnings before interest, taxes, depreciation
and amortization (&ldquo;EBITDA&rdquo;), sales, sales growth, gross margin, return on investment, increase in the fair market value
of the each Share, Share price (including but not limited to, growth measures and total stockholder return), net earnings, cash
flow (including, but not limited to, operating cash flow and free cash flow), cash flow return on investment (which equals net
cash flow divided by total capital), inventory turns, financial return ratios, total return to stockholders, market share, earnings
measures/ratios, economic value added (&ldquo;EVA&rdquo;), balance sheet measurements such as receivable turnover, internal rate
of return, increase in net present value or expense targets, working capital measurements (such as average working capital divided
by sales), customer satisfaction surveys and productivity. The Committee may provide in an Award Agreement that the Performance
Goals for the Award may be adjusted as provided in <U>Section 9(b)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Person</U>&rdquo; means an individual, partnership, corporation, limited liability company, trust, joint venture,
unincorporated association, or other entity or association.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(y)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Plan</U>&rdquo; means the Lakeland Industries, Inc. 2017 Equity Incentive Plan herein set forth, as amended from
time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(z)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Prior Plans</U>&rdquo; means, collectively, the Lakeland Industries, Inc. 2012 Stock Incentive Plan and Lakeland
Industries, Inc. 2015 Stock Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(aa)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Restricted Stock</U>&rdquo; means Shares that are subject to restrictions pursuant to <U>Section 7</U> hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(bb)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Restricted Stock Unit</U>&rdquo; means an Award that is valued by reference to a Share, which value may be paid
to the Participant by delivery of Shares, cash, or other forms of payment, or any combination thereof, as the Committee shall determine
and that are issued subject to certain restrictions pursuant to <U>Section 8</U> hereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(cc)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Restriction Period</U>&rdquo; means the period of time during which an Award is subject to forfeiture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(dd)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Shares</U>&rdquo; means shares of the Company&rsquo;s common stock, par value $0.01 per share, subject to substitution
or adjustment as provided in <U>Section&nbsp;3(c)</U> hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ee)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Spread</U>&rdquo; means, in the case of a Stock Appreciation Right, the amount by which the Fair Market Value
on the date when any such right is exercised exceeds the Base Price specified in such right.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ff)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Stock Appreciate Right</U>&rdquo; means a right granted under <U>Section 10</U> hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(gg)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Subsidiary</U>&rdquo; means, in respect of the Company, a subsidiary company as defined in Sections&nbsp;424(f)
and (g) of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
2. </B></FONT><B><U>Administration</U>.</B> The Plan shall be administered by the Committee; provided, however, that with respect
to Non-Employee Directors, the Plan shall be administered by the full Board and all references in the Plan to the Committee shall
be deemed to refer to the Board. Any action of the Committee in administering the Plan shall be final, conclusive and binding on
all persons, including the Company, its Subsidiaries, Affiliates, their respect employees, the Participants, persons claiming rights
from or through Participants and stockholders of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Committee will have full authority to
grant Awards under this Plan and determine the terms of such Awards. Such authority will include the right to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>select the individuals to whom Awards are granted (consistent with the eligibility conditions set forth in <U>Section 4</U>
hereof);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>determine the type of Award to be granted;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>determine the number of Shares, if any, to be covered by each Award;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>establish the terms and conditions of each Award;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>subject to <U>Section&nbsp;9</U>, establish the performance conditions and/or Performance Goals relevant to any Award and
certify whether such performance conditions and/or Performance Goals have been satisfied;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>approving forms of agreements (including Award Agreements) for use under the Plan;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>determine whether and under what circumstances an Option may be exercised without a payment of cash under <U>Section&nbsp;5(d)</U>;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>modify or amend each Award, subject to <U>Sections&nbsp;11 and 12</U>;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>extend the period of time for which an Option is to remain exercisable following a Participant&rsquo;s termination of service
to the Company from the limited period otherwise in effect for that Option to such greater period of time as the Committee deems
appropriate, but in no event beyond the expiration of the term of the Option; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to any employee who resides or works outside of the United States, the Committee may, in its sole and absolute
discretion, amend or supplement the terms of the Plan or Awards with respect to such employee as necessary or appropriate to accommodate
the differences in local law, tax policy, or custom so long as no such amendments or supplements include any provisions that are
inconsistent with the terms of the Plan, as then in effect, unless the Plan could have been amended to eliminate such inconsistency
without the further approval by the stockholders of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Committee will have the authority to adopt,
alter and repeal such administrative rules, guidelines and practices governing the Plan as it, from time to time, deems advisable;
to establish the terms and form of each Award Agreement; to interpret the terms and provisions of the Plan and any Award issued
under the Plan (and any Award Agreement); and to otherwise supervise the administration of the Plan. The Committee may correct
any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award Agreement in the manner and to the extent
it deems necessary to carry out the intent of the Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Committee may delegate to one or more
officers of the Company the authority to grant Awards to Participants who are not subject to the requirements of Section 16 of
the Exchange Act or Section 162(m) of the Code and the rules and regulations thereunder, provided that the Committee shall have
fixed the total number of Shares subject to such delegation. Any such delegation shall be subject to the applicable state and corporate
laws. The Committee may revoke any such allocation or delegation at any time for any reason with or without prior notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
3. </B></FONT><B><U>Shares Subject to the Plan</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT> <U>Shares Subject to the Plan</U>. Subject to adjustment as provided in <U>Section 3(c)</U> of the Plan, the maximum number
of Shares that may be issued in respect of Awards under the Plan is 360,000 Shares, all of which Shares may be granted as Incentive
Stock Options. As of the Effective Date, no further awards shall be granted pursuant to the Prior Plans, but may be awarded under
this Plan as provided in <U>Section 3(b)</U> hereof. The aggregate grant date fair market value of Awards granted, together with
cash paid, to a Non-Employee Director for services during any fiscal year shall not exceed $300,000. Any Shares issued hereunder
may consist, in whole or in part, of authorized and unissued Shares or treasury Shares. Any Shares issued by the Company through
the assumption or substitution of outstanding grants in connection with the acquisition of another entity shall not reduce the
maximum number of Shares available for delivery under the Plan. In accordance with the requirements under Section 162(m) of the
Code, the maximum number of Shares underlying or subject to Awards (including Options, Restricted Stock, Restricted Stock Units,
Performance Awards, and Stock Appreciation Rights) that may be granted during any calendar year to any individual Participant shall
be fifty percent (50%) of the maximum number of Shares that may be issued in respect of Awards under the Plan.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>&#9;<U>Effect of the Expiration or Termination of Awards</U>. If and to the extent that any Award expires or terminates,
or is canceled or forfeited for any reason prior to issuance of the Shares subject thereto, or such Award is settled in cash in
lieu of Shares, then the unissued Shares associated with that Award will again become available for grant under the Plan. Any Shares
that are covered under the terms of a Prior Plan award which would otherwise become available for reuse under the terms of a Prior
Plan shall instead become available for issuance under the Plan. Except for expired, forfeited or cancelled Shares, the Plan is
intended to restrict the &ldquo;recycling&rdquo; of Shares back into the Plan; this means (i) Shares used or withheld in settlement
of a tax withholding obligation associated with an Award, (ii) Shares tendered or held back upon the exercise of an Option in satisfaction
of the exercise price payable upon exercise of an Option, or (iii) Shares subject to a Stock Appreciation Right that are not issued
or delivered as a result of the net stock settlement of an outstanding Stock Appreciation Right, will not become available for
grant under the Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>&#9;<U>Other Adjustment</U>. In the event of any corporate event or transaction such as a merger, consolidation, reorganization,
recapitalization, stock split, reverse stock split, split up, spin-off, combination of shares, exchange of shares, stock dividend,
dividend in kind, or other like change in capital structure (other than ordinary cash dividends) to stockholders of the Company,
or other similar corporate event or transaction affecting the Shares, the Committee, to prevent dilution or enlargement of Participants&rsquo;
rights under the Plan, shall, in such manner as it may deem equitable, substitute or adjust, in its sole discretion, the number
and kind of shares that may be issued under the Plan or under any outstanding Awards, the number and kind of shares subject to
outstanding Awards, the exercise price, grant price or purchase price applicable to outstanding Awards, and/or any other affected
terms and conditions of this Plan or outstanding Awards. The Committee shall not make any adjustment that would adversely affect
the status of any Award that is &ldquo;performance-based compensation&rdquo; under Section 162(m) of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Change in Control</U>. Notwithstanding anything to the contrary set forth in the Plan, upon any Change in Control, the
Committee may, in its sole and absolute discretion and without the need for the consent of any Participant, take one or more of
the following actions contingent upon the occurrence of that Change in Control:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>cause any or all outstanding Awards to become vested and immediately exercisable (as applicable), in whole or in part;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>cancel any unvested Award or unvested portion thereof, with or without consideration;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>cancel any Award in exchange for a substitute award;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>redeem any Restricted Stock or Restricted Stock Unit for cash and/or other substitute consideration with value equal to
fair market value of an unrestricted Share on the date of the Change in Control;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>cancel any Option in exchange for cash and/or other substitute consideration with a value equal to: (A)&nbsp;the number
of Shares subject to that Option, multiplied by (B)&nbsp;the difference, if any, between the fair market value per Share on the
date of the Change in Control and the exercise price of that Option; <I>provided, </I>that if the fair market value per Share on
the date of the Change in Control does not exceed the exercise price of any such Option, the Committee may cancel that Option without
any payment of consideration therefor;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>take such other action as the Committee shall determine to be reasonable under the circumstances; and/or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>notwithstanding any provision of this <U>Section 3(d)</U>, in the case of any Award subject to Section 409A of the Code,
such Award shall vest and be distributed only in accordance with the terms of the applicable Award Agreement and the Committee
shall only be permitted to use discretion to the extent that such discretion would be permitted under Section 409A of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">In the discretion of the Committee,
any cash or substitute consideration payable upon cancellation of an Award may be subjected to (i)&nbsp;vesting terms substantially
identical to those that applied to the cancelled Award immediately prior to the Change in Control, or (ii)&nbsp;earn-out, escrow,
holdback or similar arrangements, to the extent such arrangements are applicable to any consideration paid to stockholders in connection
with the Change in Control.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
4. </B></FONT><B><U>Eligibility</U>.</B> Employees and Directors of the Company or its Affiliates are eligible to be granted Awards
under the Plan; <I>provided, however</I>, that only employees of the Company or a Subsidiary are eligible to be granted Incentive
Stock Options.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
5. </B></FONT><B><U>Options</U>. </B> Options granted under the Plan may be of two types: (i)&nbsp;Incentive Stock Options or (ii)&nbsp;Non-Qualified
Stock Options. The Award Agreement shall state whether such grant is an Incentive Stock Option or a Non-Qualified Stock Option.
Any Option granted under the Plan will be in such form as the Committee may at the time of such grant approve.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Award Agreement evidencing any Option
will incorporate the following terms and conditions and will contain such additional terms and conditions, not inconsistent with
the terms of the Plan, as the Committee deems appropriate in its sole and absolute discretion:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Option Price</U>. The exercise price per Share under an Option will be determined by the Committee and will not be less
than 100% of the Fair Market Value of a Share on the date of the grant. However, any Incentive Stock Option granted to any Participant
who, at the time the Option is granted, owns, either directly and/or within the meaning of the attribution rules contained in Section&nbsp;424(d)
of the Code, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, will have
an exercise price per Share of not less than 110% of Fair Market Value per Share on the date of the grant except as may be required
or otherwise be deemed advisable by the Committee in connection with the Options granted through the assumption of, or substitution
for, outstanding awards previously granted by a company acquired by the Company or any Affiliate with which the Company or any
Affiliate combines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Option Term</U>. The term of each Option will be fixed by the Committee, but no Option will be exercisable more than
10 years after the date the Option is granted. However, any Incentive Stock Option granted to any Participant who, at the time
such Option is granted, owns, either directly and/or within the meaning of the attribution rules contained in Section&nbsp;424(d)
of the Code, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, may not
have a term of more than 5 years. No Option may be exercised by any Person after expiration of the term of the Option.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exercisability</U>. Options shall not vest for at least one year after the date the Option is granted, except as (i)
the Committee may determine or permit otherwise in the event of a Change in Control, or (ii) may be required or otherwise be deemed
advisable by the Committee in connection with Options granted through the assumption of, or substitution for, outstanding awards
previously granted by a company acquired by the Company or any Affiliate or with which the Company or any Affiliate combines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Method of Exercise</U>. Subject to the terms of the applicable Award Agreement, the exercisability provisions of <U>Section&nbsp;5(c)</U>
and the termination provisions of <U>Section&nbsp;6(a)</U>, Options may be exercised in whole or in part from time to time during
their term by the delivery of written notice to the Company specifying the number of Shares to be purchased. Such notice will be
accompanied by payment in full of the purchase price, either by certified or bank check, or such other means as the Committee may
accept. The Committee may, in its sole discretion, permit payment of the exercise price of an Option in the form of previously
acquired Shares based on the fair market value of the Shares on the date the Option is exercised or through means of a &ldquo;net
settlement,&rdquo; whereby the Option exercise price will not be due in cash and where the number of Shares issued upon such exercise
will be equal to: (A)&nbsp;the product of (i)&nbsp;the number of Shares as to which the Option is then being exercised, and (ii)&nbsp;the
excess, if any, of (a)&nbsp;the then current fair market value per Share over (b)&nbsp;the Option exercise price, divided by (B)&nbsp;the
then current fair market value per Share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">No Shares will be issued upon exercise of
an Option until full payment therefor has been made. A Participant will not have the right to distributions or dividends or any
other rights of a stockholder with respect to Shares subject to the Option until the Participant has given written notice of exercise,
has paid in full for such Shares, if requested, has given the representation described in <U>Section&nbsp;18(a)</U> hereof and
fulfills such other conditions as may be set forth in the applicable Award Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Incentive Stock Option Limitations</U>. In the case of an Incentive Stock Option, the aggregate Fair Market Value (determined
as of the time of grant) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the
Participant during any calendar year under the Plan and/or any other plan of the Company or any Subsidiary will not exceed $100,000.
For purposes of applying the foregoing limitation, Incentive Stock Options will be taken into account in the order granted. To
the extent any Option does not meet such limitation, that Option will be treated for all purposes as a Non-Qualified Stock Option.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Service</U>. Unless otherwise specified in the applicable Award Agreement or as otherwise provided by
the Committee at or after the time of grant, Options will be subject to the terms of <U>Section&nbsp;6(a)</U> with respect to exercise
upon or following termination of employment or other service.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
6. </B></FONT><B><U>Termination of Service</U>. </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><U>Options</U>. Unless otherwise specified with respect to a particular Option in the applicable Award Agreement or otherwise
determined by the Committee, any portion of an Option that is not exercisable upon termination of service will expire immediately
and automatically upon such termination and any portion of an Option that is exercisable upon termination of service will expire
on the date it ceases to be exercisable in accordance with this <U>Section&nbsp;6(a)</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination by Reason of Death</U>. If a Participant&rsquo;s service with the Company or any Affiliate terminates by
reason of death, any Option held by such Participant may thereafter be exercised, to the extent it was exercisable at the time
of his or her death or on such accelerated basis as the Committee may determine at or after grant, by the legal representative
of the estate or by the legatee of the Participant, for a period expiring (i)&nbsp;at such time as may be specified by the Committee
at or after grant, or (ii)&nbsp;if not specified by the Committee, then 12 months from the date of death, or (iii)&nbsp;if sooner
than the applicable period specified under (i)&nbsp;or (ii)&nbsp;above, upon the expiration of the stated term of such Option.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination by Reason of Disability</U>. If a Participant&rsquo;s service with the Company or any Affiliate terminates
by reason of Disability, any Option held by such Participant may thereafter be exercised by the Participant or his personal representative,
to the extent it was exercisable at the time of termination, or on such accelerated basis as the Committee may determine at or
after grant, for a period expiring (i)&nbsp;at such time as may be specified by the Committee at or after grant, or (ii)&nbsp;if
not specified by the Committee, then 12 months from the date of termination of service, or (iii)&nbsp;if sooner than the applicable
period specified under (i) or (ii) above, upon the expiration of the stated term of such Option.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Cause</U>. If a Participant&rsquo;s service with the Company or any Affiliate is terminated for Cause: (i)&nbsp;any Option,
or portion thereof, not already exercised will be immediately and automatically forfeited as of the date of such termination, and
(ii)&nbsp;any Shares for which the Company has not yet delivered share certificates will be immediately and automatically forfeited
and the Company will refund to the Participant the Option exercise price paid for such Shares, if any.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Termination</U>. If a Participant&rsquo;s service with the Company or any Affiliate terminates for any reason other
than death, Disability or Cause, any Option held by such Participant may thereafter be exercised by the Participant, to the extent
it was exercisable at the time of such termination, or on such accelerated basis as the Committee may determine at or after grant,
for a period expiring (i)&nbsp;at such time as may be specified by the Committee at or after grant, or (ii)&nbsp;if not specified
by the Committee, then 90 days from the date of termination of service, or (iii)&nbsp;if sooner than the applicable period specified
under (i) or (ii) above, upon the expiration of the stated term of such Option.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><U>Other Awards</U>. In the event of termination of employment by reason of death or Disability of a Participant who holds
any Restricted Stock, Restricted Stock Units, Performance Awards, or Stock Appreciation Rights, as to which such Award has not
been fully vested, the Committee may, in its sole discretion, take any action that it deems to be equitable under the circumstances
or in the best interests of the Company, including without limitation waiving or modifying any limitation, requirement, performance
condition, or Performance Goal with respect to any such Award; provided that, the amount of Shares or cash obtained by virtue of
any accelerated vesting shall not exceed the number determined by multiplying the number of Shares underlying the Award/or cash
value by a fraction, the numerator of which is the number of full months during the Restriction Period during all of which the
participant was an employee of the Company or its Subsidiaries and the denominator of which is the number of full calendar months
in the Restriction Period; and provided further that, in the case of any Award subject to Section 409A of the Code, the Committee
shall not take any action pursuant to this Section 6(b) unless such action is permissible under Section 409A of the Code.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
7. </B></FONT><B><U>Restricted Stock</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Issuance</U>. Restricted Stock may be issued either alone or in conjunction with other Awards. The Committee will determine
the time or times within which Restricted Stock may be subject to forfeiture, and all other conditions of such Awards. The purchase
price for Restricted Stock may, but need not, be zero. The prospective recipient of an Award of Restricted Stock will not have
any rights with respect to such Award, unless and until such recipient has delivered to the Company an executed Award Agreement
and has otherwise complied with the applicable terms and conditions of such Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT> &#9;<U>Certificates</U>. Upon the Award of Restricted Stock, the Committee may direct that a certificate or certificates
representing the number of shares of Common Stock subject to such Award be issued to the Participant or placed in a restricted
stock account (including an electronic account) with the transfer agent and in either case designating the Participant as the registered
owner. The certificate(s) representing such Shares shall be physically or electronically legended, as applicable, as to sale, transfer,
assignment, pledge or other encumbrances during the Restriction Period and if issued to the Participant, returned to the Company,
to be held in escrow during the Restriction Period. As a condition to any Award of Restricted Stock, the Participant may be required
to deliver to the Company a share power, endorsed in blank, relating to the Shares covered by such Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Restrictions and Conditions</U>. The Award Agreement evidencing the grant of any Restricted Stock will incorporate the
following terms and conditions and such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee
deems appropriate in its sole and absolute discretion:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>During the Restriction Period, the Participant will not be permitted to sell, transfer, pledge, assign or otherwise encumber
Restricted Stock awarded under the Plan. The Committee may condition the lapse of restrictions on Restricted Stock upon the continued
employment or service of the recipient, the attainment of specified individual or corporate performance goals, or such other factors
as the Committee may determine, in its sole and absolute discretion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>While any Shares of Restricted Stock remain subject to restriction, at the discretion of the Committee, the Participant
will have, with respect to the Restricted Stock, the right to vote the Shares, but will not have the right to receive any cash
distributions or dividends prior to the lapse of the Restriction Period underlying such Shares. If any cash distributions or dividends
are payable with respect to the Restricted Stock, the Committee shall require the cash distributions or dividends to be subjected
to the same Restriction Period as is applicable to the Restricted Stock with respect to which such amounts are paid. A Participant
shall not be entitled to interest with respect to any dividends or distributions subjected to the Restriction Period. Any distributions
or dividends paid in the form of securities with respect to Restricted Stock will be subject to the same terms and conditions as
the Restricted Stock with respect to which they were paid, including, without limitation, the same Restriction Period.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Restriction Period shall be for a minimum of one year, except as (i) the Committee may determine or permit otherwise
in the event of a Change in Control, or (ii) may be required or otherwise be deemed advisable by the Committee in connection with
Restricted Stock granted through the assumption of, or substitution for, outstanding awards previously granted by a company acquired
by the Company or any Affiliate or with which the Company or any Affiliate combines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the provisions of <U>Section 6(b)</U> hereof, or the applicable Award Agreement, or as otherwise determined by
the Committee, if a Participant&rsquo;s service with the Company and its Affiliates terminates prior to the expiration of the applicable
Restriction Period, the Participant&rsquo;s Restricted Stock that then remains subject to forfeiture will then be forfeited automatically.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
8. </B></FONT><B><U>Restricted Stock Units</U>. </B>Subject to the other terms of the Plan, the Committee may grant Restricted
Stock Units to eligible individuals and may, in its sole and absolute discretion, impose conditions on such units as it may deem
appropriate, including, without limitation, continued employment or service of the recipient or the attainment of specified individual
or corporate performance goals. Each Restricted Stock Unit shall be evidenced by an Award Agreement in the form that is approved
by the Committee and that is not inconsistent with the terms and conditions of the Plan. Each Restricted Stock Unit will represent
a right to receive from the Company, upon fulfillment of any applicable conditions, one Share for each unit or, at the sole discretion
of the Committee, an amount in cash equal to the fair market value, at the time of distribution, of one Share for each unit. Distributions
may be made in Shares. All other terms governing Restricted Stock Units, such as vesting, time and form of payment and termination
of units shall be set forth in the applicable Award Agreement; provided, however, the period commencing with the date of an Award
of Restricted Stock Units and ending at such time or times as specified by the Committee shall be for a minimum of one year, except
as (i) the Committee may determine or permit otherwise in the event of a Change in Control, or (ii) may be required or otherwise
be deemed advisable by the Committee in connection with Restricted Stock Units granted through the assumption of, or substitution
for, outstanding awards previously granted by a company acquired by the Company or any Affiliate or with which the Company or any
Affiliate combines. The Participant receiving Restricted Stock Units shall not have any voting rights, nor the right to receive
cash dividends, with respect to the Shares subject to a Restricted Stock Unit Award until, if applicable, that Award vests and
the Shares are actually issued thereunder. Subject to the provisions <U>Section 6(b)</U> hereof, or the applicable Award Agreement,
or as otherwise determined by the Committee, if a Participant&rsquo;s service with the Company terminates prior to the Restricted
Stock Unit Award vesting, the Participant&rsquo;s Restricted Stock Units that then remain subject to forfeiture will then be forfeited
automatically.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
9. </B></FONT><B><U>Performance Based Awards</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance Awards Generally</U>. The Committee may grant Performance Awards in accordance with this <U>Section&nbsp;9</U>.
Performance Awards may be denominated as a number of Shares or specified number of other Awards, which may be earned upon achievement
or satisfaction of such Performance Goals as may be specified by the Committee. In addition, the Committee may specify that any
other Award shall constitute a Performance Award by conditioning the vesting or settlement of the Award upon the achievement or
satisfaction of such Performance Goals as may be specified by the Committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Adjustments to Performance Goals</U>. The Committee may provide in an Award Agreement that the Performance Goals or performance
conditions for the Award be adjusted to include or exclude the impact of items such as realized investment gains and losses, extraordinary,
unusual, non-recurring or infrequently recurring items, asset write-downs, effects of accounting changes, currency fluctuations,
acquisitions, divestitures, reserve-strengthening and other non-operating items, or any other item, event or circumstance that
would not cause an Award to fail to qualify as &ldquo;performance-based compensation&rdquo; under Section&nbsp;162(m) of the Code
to the extent such Award is intended to qualify as &ldquo;performance-based compensation.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Terms of Performance Awards</U>. Subject to <U>Section 9(d)</U> below, the Committee may specify other terms pertinent
to a Performance Award in the applicable Award Agreement, including terms relating to the treatment of that Award in the event
of a Change in Control prior to the end of the applicable performance period. The Participant shall not have any stockholder rights
with respect to the Shares subject to a Performance Award until the Shares are actually issued thereunder. Subject to the provisions
of <U>Section 6(b)</U> hereof, or the applicable Award Agreement, or as otherwise determined by the Committee, if a Participant&rsquo;s
service with the Company terminates prior to the Performance Award vesting, the Participant&rsquo;s Performance Award or portion
thereof that then remains subject to forfeiture will then be forfeited automatically.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Minimum Vesting Period</U>. The vesting period in respect of any Performance Award shall be for a minimum of one year,
except as (i) the Committee may determine or permit otherwise in the event of a Change in Control, or (ii) may be required or otherwise
be deemed advisable by the Committee in connection with Performance Awards granted through the assumption of, or substitution for,
outstanding awards previously granted by a company acquired by the Company or any Affiliate or with which the Company or any Affiliate
combines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For the avoidance of doubt, nothing in the Plan prohibits the Committee from granting to any Participant any Award subject
to performance vesting conditions which is not intended to be &ldquo;performance-based compensation&rdquo; under Section 162(m)
of the Code.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
10. </B></FONT><B><U>Stock Appreciation Rights</U>. </B>The Committee may also authorize grants to Participants of Stock Appreciation
Rights. A Stock Appreciation Right is the right of the Participant to receive from the Company an amount which shall be determined
by the Committee and shall be expressed as a percentage (not exceeding 100 percent) of the Spread at the time of the exercise of
such right. Any grant of Stock Appreciation Rights shall be upon such terms and conditions as the Committee may determine in accordance
with the following provisions:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>&#9;<U>Payment</U>. Any amount payable upon the exercise of a Stock Appreciation Right shall be paid by the Company in cash,
in Shares valued at Fair Market Value, or any combination thereof, as determined by the Committee. Any fractional Share shall be
payable in cash. Any grant may specify that the number of Shares payable upon the exercise of a Stock Appreciation Right shall
not exceed a maximum number of Shares specified by the Committee on the date of grant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>&#9;<U>Vesting Period</U>. The Committee shall determine, on the date of grant or thereafter, the time or times at which,
and the circumstances under which, a Stock Appreciation Right may vest, in whole or in part, including based on achievement of
performance conditions or Performance Goals and/or future employment or service requirements. A grant may specify that a Stock
Appreciation Right may be exercised only in the event of a Change in Control or other similar transaction or event. Notwithstanding
anything in the Plan to the contrary, no Stock Appreciation Right shall be granted with a vesting period that is shorter than one
year, except as (i) the Committee may determine or permit otherwise in the event of a Change in Control, or (ii) may be required
or otherwise be deemed advisable by the Committee in connection with Stock Appreciation Rights granted through the assumption of,
or substitution for, outstanding awards previously granted by a company acquired by the Company or any Affiliate or with which
the Company or any Affiliate combines. &#9;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>&#9;<U>Exercise Period</U>. Any grant may specify a waiting period or periods before Stock Appreciation Rights shall become
exercisable and permissible dates or periods on or during which Stock Appreciation Rights shall be exercisable; provided that no
Stock Appreciation Right granted may be exercised more than ten years after the date of grant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>&#9;<U>Base Price</U>. Each grant shall specify in respect of each Stock Appreciation Right a Base Price per Share, which
shall be equal to or greater than the Fair Market Value of such Share on the Grant Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT>&#9;<U>Deemed Exercise</U>. The Committee may provide that a Stock Appreciation Right shall be deemed to be exercised at
the close of business on the scheduled expiration date of such Stock Appreciation Right if at such time the Stock Appreciation
Right by its terms remains exercisable and, if so exercised, would result in a payment pursuant to <U>Section 10(a)</U> hereof
to the holder of such Stock Appreciation Right.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
11. </B></FONT><B><U>Amendments and Termination</U>.</B> Subject to <U>Sections 3 and 12</U>, the Board may, at any time, may,
at any time, alter, amend, suspend, discontinue or terminate the Plan in whole or in part at any time; provided, however, that
no such action shall adversely affect the rights of Participants to Awards previously granted hereunder and, provided further,
however, that any stockholder approval necessary or desirable in order to comply with tax, securities, or other Applicable Laws
or regulations, including, but not limited to, the listing requirements of the Nasdaq Global Market or such other principal securities
market on which the Shares are then traded, shall be obtained in the manner required therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
12. </B></FONT><B><U>Prohibition on Repricing Programs</U></B>. Neither the Committee nor the Board shall (i)&nbsp;implement any
cancellation/re-grant program pursuant to which outstanding Options or Stock Appreciation Rights under the Plan are cancelled and
new Options or Stock Appreciation Rights are granted in replacement with a lower exercise price or Base Price per Share, (ii)&nbsp;cancel
outstanding Options or Stock Appreciation Rights under the Plan with exercise prices or Base Prices per Share in excess of the
then-current Fair Market Value per Share for consideration payable in equity securities of the Company, (iii)&nbsp;otherwise reduce
the exercise price or Base Price in effect for outstanding Options or Stock Appreciation Rights under the Plan, without in each
such instance obtaining stockholder approval, or (iv) take any other action that would be treated as a repricing for U.S. generally
accepted accounting principles.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
13. </B></FONT><B><U>Conditions Upon Grant of Awards and Issuance of Shares</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The implementation of the Plan, the grant of any Award and the issuance of Shares in connection with the issuance, exercise
or vesting of any Award made under the Plan shall be subject to the Company&rsquo;s procurement of all approvals and permits required
by regulatory authorities having jurisdiction over the Plan, the Awards made under the Plan and the Shares issuable pursuant to
those Awards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Shares or other assets shall be issued or delivered under the Plan unless and until there shall have been compliance
with all applicable requirements of Applicable Law, including the filing and effectiveness of the Form&nbsp;S-8 registration statement
for the Shares issuable under the Plan, and all applicable listing requirements of any stock exchange on which Shares are then
listed for trading.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
14. </B></FONT><B><U>Limits on Transferability; Beneficiaries</U></B>. No Award or other right or interest of a Participant under
the Plan shall be pledged, encumbered, or hypothecated to, or in favor of, or subject to any lien, obligation, or liability of
such Participant to, any party, other than the Company, any Subsidiary or Affiliate, or assigned or transferred by such Participant
otherwise than by will or the laws of descent and distribution, and such Awards and rights shall be exercisable during the lifetime
of the Participant only by the Participant or his or her guardian or legal representative. Notwithstanding the foregoing, the Committee
may, in its discretion, provide that Awards or other rights or interests of a Participant granted pursuant to the Plan (other than
an Incentive Stock Option) be transferable, without consideration, to immediate family members (i.e., children, grandchildren or
spouse), to trusts for the benefit of such immediate family members and to partnerships in which such family members are the only
partners. The Committee may attach to such transferability feature such terms and conditions as it deems advisable. In addition,
a Participant may, in the manner established by the Committee, designate a beneficiary (which may be a person or a trust) to exercise
the rights of the Participant, and to receive any distribution, with respect to any Award upon the death of the Participant. A
beneficiary, guardian, legal representative or other person claiming any rights under the Plan from or through any Participant
shall be subject to all terms and conditions of the Plan and any Award Agreement applicable to such Participant, except as otherwise
determined by the Committee, and to any additional restrictions deemed necessary or appropriate by the Committee.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
15. </B></FONT><B><U>Withholding</U></B>. No later than the date as of which an amount first becomes includible in the gross income
of the Participant for federal income tax purposes with respect to any Award under the Plan, the Participant will pay to the Company,
or make arrangements satisfactory to the Company regarding the payment of, any federal, state or local taxes of any kind required
by law to be withheld with respect to such amount. The Committee may, in its sole discretion, permit a Participant to satisfy the
minimum required withholding obligations (or such higher amount that would not have an adverse accounting effect) with Shares,
including Shares that are part of the Award that gives rise to the withholding requirement. The obligations of the Company under
the Plan will be conditioned on such payment or arrangements and the Company will have the right to deduct any such taxes from
any payment of any kind otherwise due to the Participant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
16. </B></FONT><B><U>Liability of Company</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Inability to Obtain Authority</U>. If the Company cannot, by the exercise of commercially reasonable efforts, obtain
authority from any regulatory body having jurisdiction for the sale of any Shares under this Plan, and such authority is deemed
by the Company&rsquo;s counsel to be necessary to the lawful issuance of those Shares, the Company will be relieved of any liability
for failing to issue or sell those Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Grants Exceeding Allotted Shares</U>. If Shares subject to an Award exceed, as of the date of grant, the number of Shares
which may be issued under the Plan without additional stockholder approval, that Award will be contingent with respect to such
excess Shares, on the effectiveness under Applicable Law of a sufficient increase in the number of Shares subject to this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rights of Participants and Beneficiaries</U>. The Company will pay all amounts payable under this Plan only to the applicable
Participant, or beneficiaries entitled thereto pursuant to this Plan. The Company will not be liable for the debts, contracts,
or engagements of any Participant or his or her beneficiaries, and rights to cash payments under this Plan may not be taken in
execution by attachment or garnishment, or by any other legal or equitable proceeding while in the hands of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
17. </B></FONT><B><U>Adjustment; Repayment of Incentive Bonuses</U>.</B> All Awards made under the Plan (whether vested or unvested)
are subject to rescission, cancellation or recoupment, in whole or in part, under any current or future &ldquo;clawback&rdquo;
or similar policy or the Company that is applicable to the Participant.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
18. </B></FONT><B><U>General Provisions</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board may require each Participant to represent to and agree with the Company in writing that the Participant is acquiring
securities of the Company for investment purposes and without a view to distribution thereof and as to such other matters as the
Board believes are appropriate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All certificates for Shares or other securities delivered under the Plan will be subject to such share-transfer orders and
other restrictions as the Board may deem advisable under the rules, regulations and other requirements of the Securities Act of
1933, as amended, the Exchange Act, any stock exchange upon which the Shares are then listed, and any other Applicable Law, and
the Board may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Nothing contained in the Plan will prevent the Board from adopting other or additional compensation arrangements, subject
to stockholder approval if such approval is required.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the adoption of the Plan nor the execution of any document in connection with the Plan will: (i)&nbsp;confer upon
any employee of the Company or an Affiliate any right to continued employment with the Company or such Affiliate, or (ii)&nbsp;interfere
in any way with the right of the Company or such Affiliate to terminate the employment of any of its employees at any time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
19. </B></FONT><B><U>Electronic Delivery and Signatures</U>.</B> Any reference in the Plan or an Award Agreement to a written document
includes without limitation any document delivered electronically or posted on the Company&rsquo;s intranet or other shared electronic
medium controlled by the Company, a Subsidiary or any agent of the Company or a Subsidiary. The Committee and any Participant may
use facsimile and PDF signatures in signing any Award Agreement, in exercising any Option, or in any other written document in
connection with the Plan&rsquo;s administration. The Committee and each Participant are bound by facsimile and PDF signatures,
and acknowledge that the other party relies on facsimile and PDF signatures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
20. </B></FONT><B><U>Effective Date of Plan</U>.</B> The Plan was adopted by the Board on April 25, 2017 and shall be effective
on ____________ (the &ldquo;Effective date&rdquo;), the date on which the Plan is approved by the stockholders of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
21. </B></FONT><B><U>Term of Plan</U>. </B>Unless the Plan shall theretofore have been terminated in accordance with <U>Section
11</U>, the Plan shall terminate on _________, the 10-year anniversary of the effective date, and no Awards under the Plan shall
thereafter be granted; provided, however, that such expiration shall not affect Awards then outstanding, and the terms and conditions
of the Plan shall continue to apply to such Awards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
22. </B></FONT><B><U>Invalid Provisions</U>.</B> In the event that any provision of this Plan is found to be invalid or otherwise
unenforceable under any Applicable Law, such invalidity or unenforceability will not be construed as rendering any other provisions
contained herein as invalid or unenforceable, and all such other provisions will be given full force and effect to the same extent
as though the invalid or unenforceable provision was not contained herein.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
23. </B></FONT><B><U>Governing Law</U>.</B> The Plan and all Awards granted hereunder will be governed by and construed in accordance
with the laws of the State of Delaware, without regard to the application of the principles of conflicts of laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
24. </B></FONT><B><U>Notices</U>.</B> Any notice to be given to the Company pursuant to the provisions of this Plan must be given
in writing and addressed, if to the Company, to its principal executive office to the attention of its Chief Executive Officer
(or such other Person as the Company may designate in writing from time to time), and, if to a Participant, to the address contained
in the Company&rsquo;s personnel files, or at such other address as that Participant may hereafter designate in writing to the
Company. Any such notice will be deemed duly given: if delivered personally or via recognized overnight delivery service, on the
date and at the time so delivered; if sent via telecopier or email, on the date and at the time telecopied or emailed with confirmation
of delivery; or, if mailed, five (5) days after the date of mailing by registered or certified mail.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
25. </B></FONT><B><U>Indemnification of the Board</U>.</B> No Director shall be liable for any action taken or omitted to be taken
or any determination made in good faith with respect to the Plan or any Award hereunder. To the fullest extent permitted by Applicable
Law, the Company shall indemnify and hold harmless each Director made or threatened to be made a party to any civil or criminal
action or proceeding by reason of the fact that such Director is or was a Director of the Company, to the extent such criminal
or civil action or proceeding relates to the Plan or any Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Section
26. </B></FONT><B><U>No Guarantee of Tax Consequences</U>. </B>Notwithstanding any other provision of this Plan, no Person connected
with this Plan in any capacity, including, but not limited to, the Company and its directors, officers, agents, and employees,
makes any representation, commitment, or guarantee that any tax treatment, including, but not limited to, federal, state, and local
income, estate and gift tax treatment, shall be applicable with respect to the tax treatment of any Award, any amounts deferred
under this Plan, or paid to or for the benefit of a Participant under this Plan, or that such tax treatment shall apply to or be
available to a Participant on account of participation in this Plan, or that any of the foregoing amounts shall not be subject
to a penalty tax and interest under Section 409A of the Code.</P>

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



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