<SEC-DOCUMENT>0001213900-22-024448.txt : 20220506
<SEC-HEADER>0001213900-22-024448.hdr.sgml : 20220506
<ACCEPTANCE-DATETIME>20220506122852
ACCESSION NUMBER:		0001213900-22-024448
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20220506
DATE AS OF CHANGE:		20220506
EFFECTIVENESS DATE:		20220506

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AIR INDUSTRIES GROUP
		CENTRAL INDEX KEY:			0001009891
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
		IRS NUMBER:				204458244
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-264738
		FILM NUMBER:		22899859

	BUSINESS ADDRESS:	
		STREET 1:		1460 FIFTH AVENUE
		CITY:			BAY SHORE
		STATE:			NY
		ZIP:			11706
		BUSINESS PHONE:		631-881-4920

	MAIL ADDRESS:	
		STREET 1:		1460 FIFTH AVENUE
		CITY:			BAY SHORE
		STATE:			NY
		ZIP:			11706

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AIR INDUSTRIES GROUP, INC.
		DATE OF NAME CHANGE:	20070702

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Gales Industries Inc
		DATE OF NAME CHANGE:	20060410

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ashlin Development Corp
		DATE OF NAME CHANGE:	20050127
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>ea159393-s8_airindustries.htm
<DESCRIPTION>REGISTRATION STATEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>As filed with the Securities and Exchange Commission on May 6, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-______</B></P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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>UNITED STATES</B></P>

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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>FORM S-8</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Air Industries Group</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in Its 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="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 49%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nevada</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 2%; text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 49%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>80-0948413</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Incorporation or Organization)</P></TD>
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer<BR>
 Identification No.)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1460 Fifth Avenue, Bay Shore, New York 11706</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)</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>2022 Equity Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full Title of the Plan)</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>Luciano Melluzzo</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1460 Fifth Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Bay Shore, New York 11706</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(631) 968-5000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, Address, Including Zip Code, and Telephone
Number,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Including Area Code, of Agent for Service)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Copy to:</I></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>Vincent J. McGill, Esq.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1345 Avenue of the Americas</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10105</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(516) 220-6569</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &ldquo;large accelerated
filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="width: 67%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer&nbsp; </FONT>&#9744;</TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer&nbsp; </FONT>&#9744;</TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer&nbsp;&nbsp;</FONT>&#9744;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company&nbsp; </FONT>&#9746;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company&nbsp; </FONT>&#9744;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I</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>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The documents containing the information
specified in this Part 1 will be delivered to the participants holding the equity awards covered by this registration statement on
Form S-8 (the &ldquo;Registration Statement&rdquo;) as required by Rule 428(b)(1) promulgated under the Securities Act of 1933, as
amended (the &ldquo;Securities Act&rdquo;). These documents, are not required to be filed with the Securities and Exchange
Commission (the &ldquo;Commission&rdquo;) as part of this Registration Statement.</P>

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

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

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</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>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</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">Item 3.&nbsp;<U>Incorporation of Documents by Reference</U>.</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">Air Industries Group (the &ldquo;Registrant&rdquo;)
hereby incorporates by reference in this Registration Statement the following documents filed with the Commission:</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: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022015031/f10k2021_airindustries.htm">Form&nbsp;10-K</A> for the
fiscal year ended December&nbsp;31, 2021, filed on March 25, 2022;</TD>
</TR></TABLE>

<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: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Current Reports on Form&nbsp;8-K filed on <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022000873/ea153608-8k_airindust.htm">January 6, 2022</A> (Items
7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022002797/ea154265-8k_airindust.htm">January 20, 2022</A> (Items 7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022004623/ea154761-8k_airindust.htm">February 1, 2022</A> (Items 7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022005100/ea154875-8k_airindus.htm">February 3, 2022</A> (Items 7.01 and 9.01);
<A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022005623/ea155003-8k_airindust.htm">February 7, 2022</A> (Items 7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022005972/ea155127-8k_airind.htm">February 9, 2022</A> (Items 7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022010303/ea156407-8k_airind.htm">March 2, 2022</A> (Items 7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022010835/ea156535-8k_airindus.htm">March 7, 2022</A> (Items
7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022015579/ea157450-8k_airindus.htm">March 28, 2022</A> (Item 4.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022019100/ea158284-8k_airindust.htm">April 11, 2022</A> (Items 7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022021796/ea158901-8k_airindust.htm">April 27, 2022</A> (Items 7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022022125/ea158974-8k_airindust.htm">April 28, 2022</A>
(Items 7.01 and 9.01); <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022022541/ea159093-8k_airindust.htm">April 29, 2022</A> (Items 7.01 and 9.01) and <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022022916/ea159175-8k_airindust.htm">May 2 , 2022</A> (Items 7.01 and 9.01);</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(c)</TD><TD STYLE="text-align: justify">Definitive Proxy Statement filed on <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000121390022023395/ea158819-def14a_airindus.htm">Schedule 14A</A> on May 3, 2022;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(d)</TD><TD STYLE="text-align: justify">All other reports filed by the Registrant pursuant to Section 13(a)
or 15(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), since December 31, 2021; and</TD>
</TR></TABLE>

<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: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(e)</TD><TD STYLE="text-align: justify">The description of the Registrant&rsquo;s Common Stock contained
in its Registration Statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1009891/000119380512002014/e610299_10-air.htm">Form 10</A> filed with the Commission on October 2, 2012, and any other amendment or report filed for the
purpose of updating such description.</TD>
</TR></TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All documents subsequently filed by the Registrant pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Exchange Act after the date hereof (excluding any portions of such documents that are furnished under
Item 2.02 or Item 7.01 of a current report on Form 8-K and any exhibits included with such Items), prior to the filing of a post-effective
amendment which indicates that all securities offered hereby have been sold or which deregisters all securities offered hereby then remaining
unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing
of such documents; provided, however, that documents or information deemed to have been furnished and not filed in accordance with Commission
rules shall not be deemed incorporated by reference into this Registration Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any statement contained in this Registration Statement
or in a document incorporated or deemed to be incorporated by reference in this Registration Statement will be deemed to be modified or
superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein modifies or supersedes that statement. Any statement so modified
or superseded will not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4.&nbsp;DESCRIPTION OF SECURITIES</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">Not applicable.</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">Item 5.&nbsp;INTERESTS OF NAMED EXPERTS AND COUNSEL</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">Not applicable.</P>

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

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

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 6.&nbsp;INDEMNIFICATION OF DIRECTORS AND OFFICERS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Section 78.138 of the Nevada Revised Statutes
(&ldquo;NRS&rdquo;) provides that a director or officer will not be individually liable unless it is proven that (i) the director's or
officer's acts or omissions constituted a breach of his or her fiduciary duties, and (ii) such breach involved intentional misconduct,
fraud or a knowing violation of the law.</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">Article 9 of our Articles of Incorporation (&ldquo;Limitation on Liability&rdquo;)
provides 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; text-align: justify">&ldquo;Unless otherwise provided by law, a director
or officer is not individually liable to the Corporation or its stockholders or creditors for any damages as a result of any act or failure
to act in his individual capacity as a director or officer unless it is proven that his act or failure to act constituted a breach of
his fiduciary duties as a director or officer and his breach of those duties involved intentional misconduct, fraud, or a knowing violation
of law. If the NRS is amended to further eliminate or limit or authorize corporate action to further eliminate or limit the liability
of directors or officers, the liability of directors and officers of the corporation shall be eliminated or limited to the fullest extent
permitted by the NRS as so amended from time to time. Neither any amendment nor repeal of this Article, nor the adoption of any provision
of these Articles of Incorporation inconsistent with this Article, shall eliminate, reduce or otherwise adversely affect any limitation
on the personal liability of a director or officer of the corporation existing at the time of such amendment, repeal or adoption of such
an inconsistent provision.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Section 78.7502 of the NRS permits a company
to indemnify its directors and officers against expenses, judgments, fines and amounts paid in settlement actually and reasonably
incurred in connection with a threatened, pending or completed action, suit or proceeding if the officer or director (i) is not
liable pursuant to NRS 78.138 or (ii) acted in good faith and in a manner the officer or director reasonably believed to be in or
not opposed to the best interests of the corporation and, if a criminal action or proceeding, had no reasonable cause to believe the
conduct of the officer or director was unlawful.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Section 78.751 of NRS permits a Nevada company
to indemnify its officers and directors against expenses incurred by them in defending a civil or criminal action, suit or proceeding
as they are incurred and in advance of final disposition thereof, upon receipt of an undertaking by or on behalf of the officer or director
to repay the amount if it is ultimately determined by a court of competent jurisdiction that such officer or director is not entitled
to be indemnified by the company. Section 78.751 of NRS further permits the company to grant its directors and officers additional rights
of indemnification under its articles of incorporation or bylaws or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Section 78.752 of NRS provides that a Nevada company
may purchase and maintain insurance or make other financial arrangements on behalf of any person who is or was a director, officer, employee
or agent of the company, or is or was serving at the request of the company as a director, officer, employee or agent of another company,
partnership, joint venture, trust or other enterprise, for any liability asserted against him and liability and expenses incurred by him
in his capacity as a director, officer, employee or agent, or arising out of his status as such, whether or not the company has the authority
to indemnify him against such liability and expenses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Article 10 of our Articles of Incorporation (&ldquo;Indemnification&rdquo;)
provides as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;Every person who was or is a party to,
or is threatened to be made a party to, or is involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative,
by the reason of the fact that he or she, or a person with whom he or she is a legal representative, is or was a director or officer of
the Corporation, or who is serving at the request of the Corporation as a director or officer of another corporation, or is a representative
in a partnership, joint venture, trust or other enterprise, shall be indemnified and held harmless to the fullest extent legally permissible
under the laws of the State of Nevada from time to time against all expenses, liability and loss (including attorneys' fees, judgments,
fines, and amounts paid or to be paid in a settlement) reasonably incurred or suffered by him or her in connection therewith. The right
of indemnification shall be a contract right which may be enforced in any manner desired by such person. The expenses of officers and
directors incurred in defending a civil suit or proceeding must be paid by the Corporation as incurred and in advance of the final disposition
of the action, suit, or proceeding, under receipt of an undertaking by or on behalf of the director or officer to repay the amount if
it is ultimately determined by a court of competent jurisdiction that he or she is not entitled to be indemnified by the Corporation.
Such right of indemnification shall not be exclusive of any other right of such directors, officers or representatives may have or hereafter
acquire, and, without limiting the generality of such statement, they shall be entitled to their respective rights of indemnification
under any bylaw agreement, vote of stockholders, provision of law, or otherwise, as well as their rights under this article.</P>

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

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

<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Without limiting the application of the foregoing,
the Board of Directors may adopt bylaws from time to time with respect to indemnification, to provide at all times the fullest indemnification
permitted by the laws of the State of Nevada, and may cause the corporation to purchase or maintain insurance on behalf of any person
who is or was a director or officer of the corporation or who is serving at the request of the corporation as an officer, director or
representative of any other entity or other enterprise against any liability asserted against such person and incurred in any such capacity
or arising out of such status, whether or not the corporation would have the power to indemnify such person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any repeal or modification of the above provisions
of this Article, approved by the stockholders of the corporation shall be prospective only, and shall not adversely affect any limitation
on the liability of a director or officer of the corporation existing as of the time of such repeal or modification. In the event of any
conflict between the above indemnification provisions, and any other Article of the Articles, the terms and provisions of this Article
shall control.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company maintains a director and officer insurance
policy on behalf of any person who is or was a director or officer of the Company. Under such insurance policy, the directors and officers
of the Company are insured, within the limits and subject to the limitations of the policy, against certain expenses in connection with
the defense of certain claims, actions, suits or proceedings, and certain liabilities which might be imposed as a result of such claims,
actions, suits or proceedings, which may be brought against them by reason of being or having been such directors or officers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;Insofar as indemnification by us for liabilities
arising under the Securities Act may be permitted to our directors, officers or persons controlling the company pursuant to provisions
of our articles of incorporation and bylaws, or otherwise, we have been advised that in the opinion of the SEC, such indemnification is
against public policy as expressed in the Securities Act and is therefore unenforceable. In the event that a claim for indemnification
by such director, officer or controlling person of us in the successful defense of any action, suit or proceeding is asserted by such
director, officer or controlling person in connection with the securities being offered, we will, unless in the opinion of our counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by us is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 7. EXEMPTION FROM REGISTRATION CLAIMED</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">Not applicable.</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">Item 8. EXHIBITS</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    No.</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1&#8432;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea159393ex5-1_airindustries.htm">Opinion of Ellenoff Grossman &amp; Schole LLP</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1&#8432;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea159393ex10-1_airindustries.htm">2022 Equity Incentive Plan</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1&#8432;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea159393ex23-1_airindustries.htm">Consent of Rotenberg Meril Solomon Bertiger &amp; Guttilla, P.C., independent registered public accounting firm</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2&#8432;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea159393ex5-1_airindustries.htm">Consent of Ellenoff Grossman &amp; Schole LLP (included in Exhibit 5.1).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107&#8432;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea159393ex-fee_airindustries.htm">Filing Fee Table</A></FONT></TD></TR>
  </TABLE>
<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: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#8432;</TD><TD STYLE="text-align: justify">Filed herewith</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"></P>

<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 9.&nbsp;UNDERTAKINGS</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;The undersigned Registrant hereby undertakes:</P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i)&nbsp;To include any prospectus required
by Section 10(a)(3) of the Securities Act;</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(ii)&nbsp;To reflect in the prospectus any
facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement;</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(iii)&nbsp;To include any material information with
respect to the Plan not previously disclosed in this Registration Statement or any material change to such information in this Registration
Statement;</P>

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

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

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

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

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

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

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

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

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

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

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

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

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in Bay Shore, New York, on May 6, 2022.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AIR INDUSTRIES GROUP</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 36%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Luciano Melluzzo</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Luciano Melluzzo</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">President and Chief Executive Officer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(principal executive officer)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Michael E. Recca</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael E. Recca</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(principal financial and accounting officer)</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt; background-color: white">KNOW
ALL PERSONS BY THESE PRESENTS, that each individual whose signature appears below constitutes and appoints Luciano Melluzzo and Michael
E. Recca, jointly and severally, as his or her true and lawful&nbsp;attorneys-in-fact,&nbsp;each with full power of substitution and re-substitution,
for him or her, and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective
amendments) to this Registration Statement on&nbsp;Form&nbsp;S-8,&nbsp;and to file the same, with all exhibits thereto and all documents
in connection therewith, with the Commission, granting unto said&nbsp;attorneys-in-fact&nbsp;and agents, and each of them, full power
and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes
as he or she might or could do in person, and hereby ratifying and confirming all that each of said&nbsp;attorneys-in-fact&nbsp;and agents
or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</P>

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

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

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Act, this Registration
Statement has been signed below by the following persons on May 6, 2022 in the capacities indicated.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 58%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Capacity</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Luciano Melluzzo</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">President and CEO&nbsp;(principal executive officer)</P></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Luciano Melluzzo&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Michael E. Recca</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael E. Recca&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(principal financial and accounting officer)</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Michael N. Taglich</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Chairman of the Board</TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael N. Taglich&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Michael Porcelain</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael Porcelain</FONT></TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Robert F. Taglich</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert F. Taglich</FONT></TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ David&nbsp;J. Buonanno</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David&nbsp;&nbsp;J. Buonanno</FONT></TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Peter
    Rettaliata</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Peter Rettaliata</FONT></TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Michael Brand</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael Brand</FONT></TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
  </TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">II-6</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>ea159393ex5-1_airindustries.htm
<DESCRIPTION>OPINION OF ELLENOFF GROSSMAN & SCHOLE LLP
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 5.1</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%"><IMG SRC="ex5-1_001.jpg" ALT=""></TD>
  <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">1345 Avenue of the Americas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">New York, NY 10105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Telephone: (212) 370-1300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Facsimile: (212) 370-7889</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">www.egsllp.com</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">May 6, 2022</P>
</TD></TR>
</TABLE>

<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">Air Industries Group</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1460 Fifth Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bay Shore, New York 11706</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: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">Re:</TD><TD STYLE="text-align: justify">Air Industries Group</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.75in; text-indent: 1.5in"><U>Registration Statement on Form S-8</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Ladies and Gentlemen:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">We have acted as counsel
for Air Industries Group, a Nevada corporation (&ldquo;AIG&rdquo;), in connection with the preparation and filing with the Securities
and Exchange Commission (the &ldquo;Commission&rdquo;) of AIG&rsquo;s Registration Statement on Form&nbsp;S-8&nbsp;(the &ldquo;Registration
Statement&rdquo;), under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) relating to the registration of 1,000,000
shares (the &ldquo;Shares&rdquo;) of AIG&rsquo;s common stock, par value $0.001 per share, issuable pursuant to the Air Industries Group
2022 Equity Incentive Plan (the &ldquo;Plan&rdquo;). </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">In connection with this
opinion, we have examined and relied upon originals or copies, certified or otherwise identified to our satisfaction, of (i)&nbsp;the
Articles of Incorporation of AIG, as amended to date, (ii)&nbsp;the Bylaws of AIG, (iii)&nbsp;the Plan, (iv)&nbsp;the Registration Statement,
and (v)&nbsp;such corporate records, agreements, documents and other instruments, and such certificates or comparable documents of public
officials and of officers and representatives of AIG, and have made such inquiries of such officers and representatives, as we have
deemed relevant and necessary or appropriate as a basis for the opinion set forth below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In our examination, we have
assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us
as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified or photostatic
copies, and the authenticity of the originals of such copies. As to any facts material to the opinions expressed herein that we did not
independently establish or verify, we have relied upon statements and representations of officers and other representatives of AIG and
others and of public officials.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Based on the foregoing
and subject to the limitations, qualifications and assumptions set forth herein, we are of the opinion that the Shares to be issued pursuant
to the terms of the Plan, when issued, delivered and paid for in accordance with the terms of the Plan,
will be validly issued, fully paid and&nbsp;non-assessable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The opinion expressed
herein is limited to the corporate laws of the State of Nevada and the federal laws of the United States of America, and we express no
opinion as to the effect on the matters covered by this letter of the laws of any other jurisdictions.</P>

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">We hereby consent to
the filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not hereby admit that we are included
in the category of persons whose consent is required under Section&nbsp;7 of the Securities Act or the rules and regulations of the Commission
promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt; text-align: justify; text-indent: -12.25pt; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Very truly yours,</FONT></TD>
    <TD STYLE="width: 60%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Ellenoff Grossman &amp; Schole LLP</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ellenoff Grossman &amp; Schole LLP</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>

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


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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ea159393ex10-1_airindustries.htm
<DESCRIPTION>2022 EQUITY INCENTIVE PLAN
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</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>AIR INDUSTRIES GROUP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2022 EQUITY INCENTIVE PLAN</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">1. Purposes of the Plan.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">The purposes
of this Equity Incentive Plan are to attract and retain the best available personnel, to provide additional incentive to Employees, Directors
and Consultants and to promote the success of the Company&rsquo;s business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Definitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">As
used herein, the following definitions shall apply:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(a)
&ldquo;Administrator&rdquo; means the Board or any Committee appointed to administer the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(b)
&ldquo;Affiliate&rdquo; and &ldquo;Associate&rdquo; shall have the respective meanings ascribed to such terms in Rule 12b-2 promulgated under
the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(c)
&ldquo;Applicable Laws&rdquo; means the legal requirements relating to the administration of stock incentive plans, if any, under applicable
provisions of federal securities laws, state corporate and securities laws, the Code, the rules of any applicable stock exchange or national
market system, and the rules of any foreign jurisdiction applicable to Awards granted to residents therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(d)
&ldquo;Award&rdquo; means the grant of an Option, SAR, Dividend Equivalent Right, Restricted Stock, Performance Unit, Performance Share,
or other right or benefit under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(e)
&ldquo;Award Agreement&rdquo; means the written agreement evidencing the grant of an Award executed by the Company and the Grantee, including
any amendments thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(f)
&ldquo;Board&rdquo; means the Board of Directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(g)
&ldquo;Cause&rdquo; means, with respect to the termination by the Company or a Related Entity of the Grantee&rsquo;s Continuous Service, that
such termination is for &ldquo;Cause&rdquo; as such term is expressly defined in a then-effective written agreement between the Grantee
and the Company or such Related Entity, or in the absence of a then-effective written agreement and definition, is based on, in the determination
of the Administrator, the Grantee&rsquo;s:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(i)
refusal or failure to act in accordance with any specific, lawful direction or order of the Company or a Related Entity;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(ii)
unfitness or unavailability for service or unsatisfactory performance (other than as a result of Disability);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iii)
performance of any act or failure to perform any act, in bad faith and to the detriment of the Company or a Related Entity;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iv)
dishonesty, intentional misconduct or material breach of any agreement with the Company or a Related Entity; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(v) commission of a crime involving
dishonesty, breach of trust, or physical or emotional harm to any person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(h) &ldquo;Change in Control&rdquo;
means, unless otherwise provided in an Agreement, one of the following:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 72pt">(i) Individuals who are Continuing
Directors cease for any reason to constitute 50% or more of the Directors of the Company; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 90pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 72pt">(ii) 30% or more of the outstanding
voting power of the outstanding capital stock of the Company is acquired or beneficially owned (within the meaning of Rule 13d-3 under
the Exchange Act) by any Person other than those who beneficially own such shares as of the date hereof; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 90pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 72pt">(iii) the consummation of a
&ldquo;reverse merger&rdquo; or a merger or consolidation of the Company with or into another entity, a statutory share exchange, a sale
or other disposition (in one transaction or a series of transactions) of all or substantially all of the Company&rsquo;s assets, or a
similar business combination (each, a &ldquo;Business Combination&rdquo;), in each case unless, immediately following such Business Combination,
(x) all or substantially all of the beneficial owners (within the meaning of Rule 13d-3 under the Exchange Act) of the Company&rsquo;s
Voting Stock immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% of the voting power
of the then outstanding shares of voting stock (or comparable voting equity interests) of the surviving or acquiring entity resulting
from such Business Combination (including such beneficial ownership of an entity that, as a result of such transaction, owns the Company
or all or substantially all of the Company&rsquo;s assets either directly or through one or more subsidiaries), in substantially the same
proportions (as compared to the other beneficial owners of the Company&rsquo;s Voting Stock immediately prior to such Business Combination)
as their beneficial ownership of the Company&rsquo;s Voting Stock immediately prior to such Business Combination, and (y) no Person beneficially
owns, directly or indirectly, 30% or more of the voting power of the outstanding voting stock (or comparable equity interests) of the
surviving or acquiring entity (other than a direct or indirect parent entity of the surviving or acquiring entity, that, after giving
effect to the Business Combination, beneficially owns, directly or indirectly, 100% of the outstanding voting stock (or comparable equity
interests) of the surviving or acquiring entity); or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 72pt">(iv) approval by the shareholders
of a definitive agreement or plan to liquidate or dissolve the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, to the extent that
any Award constitutes a deferral of compensation subject to Code Section 409A, and if that Award provides for a change in the time or
form of payment upon a Change in Control, then, solely for purposes of applying such change in the time or form of payment provision,
a Change in Control shall be deemed to have occurred upon an event described in this Section 2(e) only if the event would also constitute
a change in ownership or effective control of, or a change in the ownership of a substantial portion of the assets of, the Company under
Code Section 409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(i)
&ldquo;Code&rdquo; means the Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(j)
&ldquo;Committee&rdquo; means any committee appointed by the Board to administer the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(k)
&ldquo;Common Stock&rdquo; means the common stock of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(l)
&ldquo;Company&rdquo; means Air Industries Group, a Nevada corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(m)
&ldquo;Consultant&rdquo; means any person (other than an Employee or a Director, solely with respect to rendering services in such person&rsquo;s
capacity as a Director) who is engaged by the Company or any Related Entity to render consulting or advisory services to the Company or
such Related Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(n) &ldquo;Continuing Director&rdquo;
means an individual (A) who is, as of the effective date of the Plan, a director of the Company, or (B) who becomes a director of the
Company after the effective date hereof and whose initial appointment, or nomination for election by the Company&rsquo;s shareholders,
was approved by at least a majority of the then Continuing Directors; provided, however, that any individual whose initial assumption
of office occurs as a result of either an actual or threatened contested election by any Person (other than the Board of Directors) seeking
the election of such nominee in which the number of nominees exceeds the number of directors to be elected shall not be a Continuing Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(o)
&ldquo;Continuous Service&rdquo; means that the provision of services to the Company or a Related Entity in any capacity of Employee, Director
or Consultant, is not interrupted or terminated. Continuous Service shall not be considered interrupted in the case of (i) any leave of
absence approved by the Company or a Related Entity, (ii) transfers between locations of the Company or among the Company, any Related
Entity, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any change in status as long as the individual
remains in the service of the Company or a Related Entity in any capacity of Employee, Director or Consultant (except as otherwise provided
in the Award Agreement). For purposes of Incentive Stock Options, no such approved leave of absence may exceed ninety (90) days, unless
re-employment upon expiration of such leave is guaranteed by statute or contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(p)
&ldquo;Director&rdquo; means a member of the Board or the board of directors of any Related Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(q)
&ldquo;Disability&rdquo; means that a Grantee is permanently unable to carry out the responsibilities and functions of the position held
by the Grantee by reason of any medically determinable physical or mental impairment. A Grantee will not be considered to have incurred
a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the Administrator in its discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(r)
&ldquo;Dividend Equivalent Right&rdquo; means a right entitling the Grantee to compensation measured by dividends paid with respect to Common
Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(s)
&ldquo;Employee&rdquo; means any person, including an Officer or Director, who is an employee of the Company or any Related Entity. The
payment of a director&rsquo;s fee by the Company or a Related Entity shall not be sufficient to constitute &ldquo;employment&rdquo; by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(t)
&ldquo;Exchange Act&rdquo; means the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(u)
&ldquo;Fair Market Value&rdquo; means, as of any date, the value of the Common Stock determined as follows:&nbsp;&nbsp;(i) Where there exists
a public market for the Common Stock, the Fair Market Value shall be (A) the closing price for a Share for the last market trading day
prior to the time of the determination (or, if no closing price was reported on that date, on the last trading date on which a closing
price was reported) on the stock exchange or national market system determined by the Administrator to be the primary market for the Common
Stock, or (B) if the Common Stock is not traded on any such exchange or national market system, the average of the closing bid and asked
prices of a share on the OTC Bulletin Board or other inter-dealer quotation service for the day prior to the time of the determination
(or, if no such prices were reported on that date, on the last date on which such prices were reported), in each case, as reported in
The Wall Street Journal or such other source as the Administrator deems reliable; or (ii) in the absence of an established market for
the Common Stock of the type described in subparagraph (i), above, the Fair Market Value shall be determined by the Administrator in good
faith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(v)
&ldquo;Grantee&rdquo; means an Employee, Director or Consultant who receives an Award pursuant to an Award Agreement under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(w)
&ldquo;Incentive Stock Option&rdquo; means an Option intended to qualify as an incentive stock option within the meaning of Section 422
of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(x)
&ldquo;Non-Qualified Stock Option&rdquo; means an Option not intended to qualify as an Incentive Stock Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(y)
&ldquo;Officer&rdquo; means a person who is an officer of the Company or a Related Entity within the meaning of Section 16 of the Exchange
Act and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(z)
&ldquo;Option&rdquo; means an option to purchase Shares pursuant to an Award Agreement granted under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(aa)
&ldquo;Parent&rdquo; means a &ldquo;parent corporation&rdquo;, whether now or hereafter existing, as defined in Section 424(e) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(bb)
&ldquo;Performance Shares&rdquo; means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment
of performance criteria established by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(cc)
&ldquo;Performance Units&rdquo; means an Award which may be earned in whole or in part upon attainment of performance criteria established
by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities
as established by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(dd)
&ldquo;Plan&rdquo; means this 2022 Equity Incentive Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(ee)
&ldquo;Related Entity&rdquo; means any Parent, Subsidiary and any business, corporation, partnership, limited liability company or other
entity in which the Company, a Parent or a Subsidiary holds a substantial ownership interest, directly or indirectly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(ff)
&ldquo;Restricted Stock&rdquo; means Shares issued under the Plan to the Grantee for such consideration, if any, and subject to such restrictions
on transfer, rights of first refusal, repurchase provisions, forfeiture provisions, and other terms and conditions as established by the
Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(gg)
&ldquo;Rule 16b-3&rdquo; means Rule 16b-3 promulgated under the Exchange Act or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(hh)
&ldquo;SAR&rdquo; means a stock appreciation right entitling the Grantee to Shares or cash compensation, as established by the Administrator,
measured by appreciation in the value of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(ii)
&ldquo;Share&rdquo; means a share of the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(jj)
&ldquo;Subsidiary&rdquo; means a &ldquo;subsidiary corporation&rdquo;, whether now or hereafter existing, as defined in Section 424(f) of
the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(kk)
&ldquo;Related Entity Disposition&rdquo; means the sale, distribution or other disposition by the Company of all or substantially all of
the Company&rsquo;s interests in any Related Entity effected by a sale, merger or consolidation or other transaction involving that Related
Entity or the sale of all or substantially all of the assets of that Related Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Stock Subject to the Plan.</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: 18pt">(a)
Subject to the provisions of Section 10, below, the maximum aggregate number of Shares which may be issued pursuant to all Awards (including
Incentive Stock Options) is 1,000,000 Shares. The Shares to be issued pursuant to Awards may be authorized, but unissued, or reacquired
Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(b)
Any Shares covered by an Award (or portion of an Award) which is forfeited or canceled, expires or is settled in cash, shall be deemed
not to have been issued for purposes of determining the maximum aggregate number of Shares which may be issued under the Plan. If any
unissued Shares are retained by the Company upon exercise of an Award in order to satisfy the exercise price for such Award or any withholding
taxes due with respect to such Award, such retained Shares subject to such Award shall become available for future issuance under the
Plan (unless the Plan has terminated). Shares that actually have been issued under the Plan pursuant to an Award shall not be returned
to the Plan and shall not become available for future issuance under the Plan, except that if unvested Shares are forfeited, or repurchased
by the Company at their original purchase price, such Shares shall become available for future grant under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. Administration of the Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">(a) Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(i)
Administration with Respect to Directors and Officers. With respect to grants of Awards to Directors or Employees who are also Officers
or Directors of the Company, the Plan shall be administered by&nbsp;(A) the Board or (B) a Committee designated by the Board, which Committee
shall be constituted in such a manner as to satisfy the Applicable Laws and to permit such grants and related transactions under the Plan
to be exempt from Section 16(b) of the Exchange Act in accordance with Rule 16b-3. Once appointed, such Committee shall continue to serve
in its designated capacity until otherwise directed by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(ii)
Administration with Respect to Consultants and Other Employees. With respect to grants of Awards to Employees or Consultants who are neither
Directors nor Officers of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which
Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once appointed, such Committee shall continue to serve
in its designated capacity until otherwise directed by the Board. The Board may authorize one or more Officers to grant such Awards and
may limit such authority as the Board determines from time to time. Except for the power to amend the Plan as provided in Section 13 and
except for determinations regarding Employees who are subject to Section 16 of the Exchange Act or certain key Employees who are, or may
become, as determined by the Board or the Committee, subject to Section 162(m) of the Code compensation deductibility limit, and except
as may otherwise be required under applicable stock exchange rules, the Board or the Committee may delegate any or all of its duties,
powers and authority under the Plan pursuant to such conditions or limitations as the Board or the Committee may establish to any Officer
or Officers of the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iii)
Administrative Errors. In the event an Award is granted in a manner inconsistent with the provisions of this subsection, such Award shall
be presumptively valid as of its grant date to the extent permitted by Applicable Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(b)
Powers of the Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Administrator
hereunder), and except as otherwise provided by the Board, the Administrator shall have the authority, in its discretion:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(i)
to select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(ii) to determine whether
and to what extent Awards are granted hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iii) to determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iv)
to approve forms of Award Agreements for use under the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(v) to determine the terms
and conditions of any Award granted hereunder, including such performance criteria as the Committee shall deem appropriate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(vi) to amend the terms of any outstanding Award granted under the Plan, provided that any amendment that would adversely
affect the Grantee&rsquo;s rights under an outstanding Award shall not be made without the Grantee&rsquo;s written consent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(vii)
to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan, including without limitation, any notice of Award
or Award Agreement, granted pursuant to the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(viii)
to establish additional terms, conditions, rules or procedures to accommodate the rules or laws of applicable foreign jurisdictions and
to afford Grantees favorable treatment under such laws;&nbsp;provided, however, that no Award shall be granted under any such additional
terms, conditions, rules or procedures with terms or conditions which are inconsistent with the provisions of the Plan; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(ix)
to take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(c)
Effect of Administrator&rsquo;s Decision. All decisions, determinations and interpretations of the Administrator shall be conclusive and binding
on all persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. Eligibility.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Awards including Incentive
Stock Options may be granted to Employees, Directors and Consultants, provided that Incentive Stock Options may be granted only to those
Employees, Directors and Consultants as permitted by the Code. An Employee, Director or Consultant who has been granted an Award may,
if otherwise eligible, be granted additional Awards. Awards may be granted to Employees, Directors or Consultants who are residing in
foreign jurisdictions.</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">6. Terms and Conditions of Awards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(a)
Type of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director or Consultant
that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) Shares, (ii)
an Option, (iii) a SAR, phantom stock right or similar right with a fixed or variable price related to the Fair Market Value of the Shares
and with an exercise or conversion privilege related to the passage of time, the occurrence of one or more events, or the satisfaction
of performance criteria or other conditions, or (iv) any other security with the value derived from the value of the Shares. Such awards
include, without limitation, Options, SARs, phantom stock, sales or bonuses of Restricted Stock, Dividend Equivalent Rights, Performance
Units or Performance Shares, and an Award may consist of one such security or benefit, or two (2) or more of them in any combination or
alternative; provided that only Employees shall be eligible to receive Incentive Stock Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(b)
Designation of Award. Each Award shall be designated in the Award Agreement. In the case of an Option, the Option shall be designated
as either an Incentive Stock Option or a Non-Qualified Stock Option. However, notwithstanding such designation, to the extent that the
aggregate Fair Market Value of Shares subject to Options designated as Incentive Stock Options which become exercisable for the first
time by a Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary) exceeds $100,000, such excess
Options, to the extent of the Shares covered thereby in excess of the foregoing limitation, shall be treated as Non-Qualified Stock Options.
For this purpose, Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value
of the Shares shall be determined as of the date the Option with respect to such Shares is granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(c)
Conditions of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions of each
Award including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions,
form of payment (cash, Shares, or other consideration, including cashless exercise) upon settlement of the Award, payment contingencies,
and satisfaction of any performance criteria. The performance criteria established by the Administrator may be based on any one of, or
combination of, increase in share price, earnings per share, total stockholder return, return on equity, return on assets, return on investment,
net operating income, cash flow, revenue, economic value added, personal management objectives, or other measure of performance selected
by the Administrator. Partial achievement of the specified criteria may result in a partial payment or vesting as specified in the Award
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(d)
Acquisitions and Other Transactions. The Administrator may issue Awards under the Plan in settlement, assumption or substitution for,
outstanding awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity,
an interest in another entity or an additional interest in a Related Entity whether by merger, stock purchase, asset purchase or other
form of transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(e)
Deferral of Award Payment. The Administrator may establish one or more programs under the Plan to permit selected Grantees the opportunity
to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent
the election would entitle the Grantee to payment or receipt of Shares or other consideration under an Award. The Administrator may establish
the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any,
on amounts, Shares or other consideration so deferred, and such other terms, conditions, rules and procedures that the Administrator deems
advisable for the administration of any such deferral program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(f)
Award Exchange Programs. The Administrator may establish one or more programs under the Plan to permit selected Grantees to exchange an
Award under the Plan for one or more other types of Awards under the Plan on such terms and conditions as determined by the Administrator
from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(g)
Separate Programs. The Administrator may establish one or more separate programs under the Plan for the purpose of issuing particular
forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(h)
Early Exercise. The Award Agreement may, but need not, include a provision whereby the Grantee may elect at any time while an Employee,
Director or Consultant to exercise any part or all of the Award prior to full vesting of the Award. Any unvested Shares received pursuant
to such exercise may be subject to a repurchase right in favor of the Company or a Related Entity or to any other restriction the Administrator
determines to be appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(i)
Term of Award. The term of each Award shall be the term stated in the Award Agreement, provided, however, that the term of an Incentive
Stock Option shall be no more than ten (10) years from the date of grant thereof. However, in the case of an Incentive Stock Option granted
to a Grantee who, at the time the Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes
of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option shall be five (5) years from the date of grant
thereof or such shorter term as may be provided in the Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(j)
Transferability of Awards. Except as otherwise provided in this Section, all Awards under the Plan shall be nontransferable and shall
not be assignable, alienable, saleable or otherwise transferable by the Grantee other than by will or the laws of descent and distribution
except pursuant to a domestic relations order entered by a court of competent jurisdiction. Notwithstanding the preceding sentence, the
Board or the Committee may provide that any Award of Non-Qualified Stock Options may be transferable by the recipient to family members
or family trusts established by the Grantee. The Board or the Committee may also provide that, in the event that a Grantee terminates
employment with the Company to assume a position with a governmental, charitable, educational or similar non-profit institution, a third
party, including but not limited to a &ldquo;blind&rdquo; trust, may be authorized by the Board or the Committee to act on behalf of and
for the benefit of the respective Grantee with respect to any outstanding Awards. Except as otherwise provided in this Section, during
the life of the Grantee, Awards under the Plan shall be exercisable only by him or her except as otherwise determined by the Board or
the Committee. In addition, if so permitted by the Board or the Committee, a Grantee may designate a beneficiary or beneficiaries to exercise
the rights of the Grantee and receive any distributions under the Plan upon the death of the Grantee. Any Award held by a transferee shall
continue to be subject to the terms and conditions that were applicable to the Award immediately before the transfer thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(k)
Time of Granting Awards. The date of grant of an Award shall for all purposes be the date on which the Administrator makes the determination
to grant such Award, or such other date as is determined by the Administrator. Notice of the grant determination shall be given to each
Employee, Director or Consultant to whom an Award is so granted within a reasonable time after the date of such grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(l) Designation of Beneficiary.
Each Participant may designate a beneficiary or beneficiaries to exercise any Award or receive a payment under any Award payable on or
after the Participant&rsquo;s death. Any such designation shall be on a written or electronic form approved by the Committee and shall
be effective upon its receipt by the Company or an agent selected by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(m) <FONT STYLE="background-color: white">Dividends
and Dividend Equivalents.&nbsp;Unless otherwise specified in the Award Agreement, n</FONT>o dividends, dividend equivalents, or distributions
will be paid with respect to Shares subject to an Option or SAR Award<FONT STYLE="background-color: white">. Any dividends or distributions
paid with respect to Shares that are subject to the unvested portion of a Restricted Stock Award will be subject to the same restrictions
as the Shares to which such dividends or distributions relate. In its discretion, the Committee may provide in an Award Agreement that
the Participant will be entitled to receive dividend equivalents on the Shares subject to the Award based on dividends actually declared
on outstanding Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7. Award Exercise or Purchase Price, Consideration, Taxes and
Reload Options.</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: 18pt">(a)
Exercise or Purchase Price. The exercise or purchase price, if any, for an Award shall be as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(i)
In the case of an Incentive Stock Option: (A) granted to an Employee who, at the time of the grant of such Incentive Stock Option owns
stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary,
the per Share exercise price shall be not less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant;
or (B) granted to any Employee other than an Employee described in the preceding clause, the per Share exercise price shall be not less
than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(ii)
In the case of a Non-Qualified Stock Option, the per Share exercise price shall be not less than one hundred percent (100%) of the Fair
Market Value per Share on the date of grant unless otherwise determined by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iii)
In the case of other Awards, such price as is determined by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iv)
Notwithstanding the foregoing provisions of this Section 7(a),in the case of an Award issued pursuant to Section 6(d), above, the exercise
or purchase price for the Award shall be determined in accordance with the principles of Section 424(a) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(b)
Consideration. Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchase of an Award
including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined
at the time of grant). In addition to any other types of consideration the Administrator may determine, the Administrator is authorized
to accept as consideration for Shares issued under the Plan the following, provided that the portion of the consideration equal to the
par value of the Shares must be paid in cash or other legal consideration permitted by the applicable laws of the jurisdiction in which
the Company is then incorporated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(i)
cash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(ii)
check;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iii)
delivery of Grantee&rsquo;s promissory note with such recourse, interest, security, and redemption provisions as the Administrator determines
is appropriate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iv)
surrender of Shares or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may require including
withholding of Shares otherwise deliverable upon exercise of the Award) which have a Fair Market Value on the date of surrender or attestation
equal to the aggregate exercise price of the Shares as to which said Award shall be exercised (but only to the extent that such exercise
of the Award would not result in an accounting compensation charge with respect to the Shares used to pay the exercise price unless otherwise
determined by the Administrator);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(v)
with respect to options, payment through a broker-dealer sale and remittance procedure pursuant to which the Grantee (A) shall provide
written instructions to a Company designated brokerage firm to effect the immediate sale of some or all of the purchased Shares and remit
to the Company, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate exercise price payable
for the purchased Shares and (B) shall provide written directives to the Company to deliver the certificates for the purchased Shares
directly to such brokerage firm in order to complete the sale transaction; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(vi)
with respect to options provided there is then an established market for the Common Stock, by a &ldquo;cashless exercise&rdquo; as a result
of which the Grantee shall be entitled to receive that number of shares of Common Stock equal to the quotient of (i) the number of Options
surrendered for exercise and (ii) the difference between the Fair Market Value (determined in accordance with clause (i) of Section 2(t)
hereof) and the exercise price of the Option, in which case the number of Options surrendered for exercise shall be cancelled;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(vii)
any combination of the foregoing methods of payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(c)
Taxes. The Company or any Subsidiary, as applicable, shall have the right to (i) withhold from any cash payment made under the Plan or
any other compensation or payments owed to a Grantee an amount sufficient to cover any required withholding taxes (including income taxes,
social insurance contributions, payments on account, or any other taxes or charges owed by Grantee) related to the grant, vesting, exercise,
or settlement of an Award, and (ii) require a Grantee or other person receiving Shares under the Plan to pay a cash amount sufficient
to cover any required withholding taxes (as described above) before actual receipt of those Shares. In lieu of all or any part of a cash
payment from a person receiving Shares under the Plan, the Committee may permit the individual to cover all or any part of the required
withholdings (up to the maximum individual statutory tax rates in the applicable jurisdictions) through a reduction in the number of Shares
delivered or a delivery or tender to the Company of Shares held by the Grantee or other person, in each case valued in the same manner
as used in computing the withholding taxes under applicable laws. No Shares shall be delivered under the Plan to any Grantee or other
person until such Grantee or other person has made arrangements acceptable to the Administrator for the satisfaction of any foreign, federal,
state, or local income and employment tax withholding obligations, including, without limitation, obligations incident to the receipt
of Shares or the disqualifying disposition of Shares received on exercise of an Incentive Stock Option. Upon exercise of an Award, the
Company shall withhold or collect from Grantee an amount sufficient to satisfy such tax obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(d)
Reload Options. In the event the exercise price or tax withholding of an Option is satisfied by the Company or the Grantee&rsquo;s employer
withholding Shares otherwise deliverable to the Grantee, the Administrator may issue the Grantee an additional Option, with terms identical
to the Award Agreement under which the Option was exercised, but at an exercise price as determined by the Administrator in accordance
with the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8. Exercise of Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">(a) Procedure
for Exercise; Rights as a Stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(i)
Any Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under the
terms of the Plan and specified in the Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(ii)
An Award shall be deemed to be exercised upon the later of (x) receipt by the Company of written notice of such exercise in accordance
with the terms of the Award by the person entitled to exercise the Award and (y) full payment for the Shares with respect to which the
Award is exercised, including, to the extent selected, use of the broker-dealer sale and remittance procedure to pay the purchase price
as provided in Section 7(b)(v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iii)
Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company)
of the stock certificate evidencing such Shares, no right to vote or receive dividends or any other rights as a stockholder shall exist
with respect to Shares subject to an Award, notwithstanding the exercise of an Option or other Award. The Company shall issue (or cause
to be issued) such stock certificate promptly upon exercise of the Award. No adjustment will be made for a dividend or other right for
which the record date is prior to the date the stock certificate is issued, except as provided in the Award Agreement or Section 10, below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">(b) Exercise of Award Following
Termination of Continuous Service.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(i)
An Award may not be exercised after the termination date of such Award set forth in the Award Agreement and may be exercised following
the termination of a Grantee&rsquo;s Continuous Service only to the extent provided in the Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(ii)
Where the Award Agreement permits a Grantee to exercise an Award following the termination of the Grantee&rsquo;s Continuous Service for a specified
period, the Award shall terminate to the extent not exercised on the last day of the specified period or the last day of the original
term of the Award, whichever occurs first.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iii)
Any Award designated as an Incentive Stock Option to the extent not exercised within the time permitted by law for the exercise of Incentive
Stock Options following the termination of a Grantee&rsquo;s Continuous Service shall convert automatically to a Non-Qualified Stock Option
and thereafter shall be exercisable as such to the extent exercisable by its terms for the period specified in the Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(c)
Buyout Provisions. The Administrator may at any time offer to buy out for a payment in cash or Shares, an Award previously granted, based
on such terms and conditions as the Administrator shall establish and communicate to the Grantee at the time that such offer is made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">9. Conditions Upon Issuance of Shares.</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: 18pt">(a)
Shares shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such
Shares pursuant thereto shall comply with all Applicable Laws, and shall be further subject to the approval of counsel for the Company
with respect to such compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(b)
As a condition to the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the time
of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such
Shares if, in the opinion of counsel for the Company, such a representation is required by any Applicable Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">10. Adjustments Upon Changes in Capitalization.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Subject to any required action
by the stockholders of the Company, the Administrator may, in its discretion, proportionately adjust the number of Shares covered by each
outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have yet
been granted or which have been returned to the Plan, the exercise or purchase price of each such outstanding Award, as well as any other
terms that the Administrator determines require adjustment for (a) any increase or decrease in the number of issued Shares resulting from
a stock split, reverse stock split, stock dividend, combination or reclassification of the Shares, (b) any other increase or decrease
in the number of issued Shares effected without receipt of consideration by the Company, or (c) as the Administrator may determine in
its discretion, any other transaction with respect to Common Stock to which Section 424(a) of the Code applies; provided, however that
conversion of any convertible securities of the Company shall not be deemed to have been &ldquo;effected without receipt of consideration.&rdquo;
Such adjustment shall be made by the Administrator and its determination shall be final, binding and conclusive. Except as the Administrator
determines, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall
affect, and no adjustment by reason hereof shall be made with respect to, the number or price of Shares subject to an Award. &nbsp;No
adjustment shall be made pursuant to this Section 10 in a manner that would cause Incentive Stock Options to violate Code Section 422(b)
or cause an Award to be subject to adverse tax consequences under Code Section 409A.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11. Change in Control and Related Entity Dispositions.</P>

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

<P STYLE="text-align: justify; text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a) Change in Control. Unless otherwise provided in an Award Agreement, the following provisions shall apply to outstanding Awards in
the event of a Change in Control. Nothing in this Section 11(a) shall limit the provisions of Section 11(c).</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">(i) Continuation, Assumption
or Replacement<I>.&nbsp;</I>If the Company is the surviving entity and an outstanding Award is not adjusted as necessary to preserve the
intrinsic value of the Award or if the Company&rsquo;s successor does not irrevocably assume the Company&rsquo;s obligations under this
Plan or replace the outstanding Awards with Awards having substantially the same intrinsic value and having terms and conditions no less
favorable to the Grantee than those applicable to the Awards immediately prior to the Change in Control then, without any action by the
Committee or the Board, each such outstanding Option, SAR or other Award granted under the Plan shall become immediately fully vested
(which in the case of a performance-based Award, shall be deemed to equal the amount that would be vested upon satisfaction of the performance
criteria under the Award) and, if applicable, exercisable, in full.</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">(ii) Options and Stock Appreciation
Rights. In the event of a Change in Control in which the Grantee&rsquo;s outstanding Options and Stock Appreciation Rights granted under
the Plan are continued, assumed, or replaced as provided in Section 11(a(1) above, such Options and Stock Appreciation Rights shall become
immediately exercisable in full (which in the case of a performance-based Award, shall be deemed to equal the amount that would be vested
upon satisfaction of the performance criteria under the Award) and shall remain exercisable for one year following the Grantee&rsquo;s
termination of Service if, within two years after the Change in Control, the Grantee&rsquo;s Service:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(x) is terminated by the Company
or a Related Entity without Cause; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(y) terminates under circumstances
that entitle the Grantee to accelerated exercisability under any individual employment agreement between the Grantee and the Company or
Related Party, or any successor thereof.</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">(iii) Service-Based Awards.
In the event of a Change in Control in which the Grantee&rsquo;s outstanding service-based Restricted Stock, Stock Units, and other Awards
granted under the Plan are continued, assumed or replaced as provided in Section 11(b)(1) above, such outstanding Awards will vest (and
any restrictions on such Awards shall lapse) if, within two years after the Change in Control and during the vesting period of the Award,
the Grantee&rsquo;s Service is terminated by the Company or a Related Party without Cause.</P>

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

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

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv) Performance-Based Full
Value Awards. In the event of a Change in Control in which the Grantee&rsquo;s outstanding performance-based Awards granted under the
Plan are continued, assumed, or replaced as provided in Section 11(a)(1) above, such outstanding performance-based Awards will be deemed
to have satisfied any applicable performance-based vesting conditions, but will continue to be subject to any continuing service-based
vesting requirements of the Awards. However, such outstanding performance-based Awards granted under the Plan will vest (and any restrictions
on such Awards shall lapse) if, within two years after the Change in Control and during the continuing service-based vesting period of
the performance-based Full Value Awards, the Participant&rsquo;s Service is terminated by the Company or any Subsidiary without Cause.</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">Except as may be provided in an Award Agreement:</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: 18pt">(b)
The Administrator shall have the authority, exercisable either in advance of any actual or anticipated Change in Control or Related Entity
Disposition or at the time of a Change in Control or Related Entity Disposition, and exercisable at the time of the grant of an Award
under the Plan or any time while an Award remains outstanding, to provide for the full automatic vesting and exercisability of one or
more outstanding unvested Awards under the Plan and the release from restrictions on transfer and repurchase or forfeiture rights of such&nbsp;Awards
in connection with a Change in Control or Related Entity Disposition, on such terms and conditions as the Administrator may specify. The
Administrator also shall have the authority to condition any such Award vesting and exercisability or release from such limitations upon
the subsequent termination of the Continuous Service of the Grantee within a specified period following the effective date of the Change
in Control or Related Entity Disposition. Effective upon the consummation of a Change in Control or Related Entity Disposition, all outstanding
Awards under the Plan, shall remain fully exercisable until the expiration or sooner termination of the Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">(c)
The portion of any Incentive Stock Option accelerated under this Section 11 in connection with a Change in Control or Related Entity Disposition
shall remain exercisable as an Incentive Stock Option under the Code only to the extent the $100,000 dollar limitation of Section 422(d)
of the Code is not exceeded. To the extent such dollar limitation is exceeded, the accelerated excess portion of such Option shall be
exercisable as a Non-Qualified Stock Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(d) Reduction in Awards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(i) When Applicable<I>.&nbsp;</I>Anything
in this Plan to the contrary notwithstanding, the provisions of this Section 11(d) shall apply to a Grantee if an independent auditor
selected by the Committee (the &ldquo;Auditor&rdquo;) determines that each of (x) and (y) below are applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(x) Payments or distributions
hereunder, determined without application of this Section 11(d), either alone or together with other payments in the nature of compensation
to the Grantee which are contingent on a change in the ownership or effective control of the Company, or in the ownership of a substantial
portion of the assets of the Company, or otherwise (but after any elimination or reduction of such payments under the terms of the Company&rsquo;s
Officer Income Continuation Plan, as amended), would result in any portion of the payments hereunder being subject to an excise tax on
excess parachute payments imposed under Section 4999 of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(y) The excise tax imposed
on the Grantee under Section 4999 of the Code on excess parachute payments, from whatever source, would result in a lesser net aggregate
present value of payments and distributions to the Grantee (after subtraction of the excise tax) than if payments and distributions to
the Grantee were reduced to the maximum amount that could be made without incurring the excise tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(ii) Reduced Amount<I>.</I>&nbsp;Under
this Section 11(d) the payments and distributions under this Plan shall be reduced (but not below zero) so that the present value of such
payments and distributions shall equal the Reduced Amount. The &ldquo;Reduced Amount&rdquo; (which may be zero) shall be an amount expressed
in present value which maximizes the aggregate present value of payments and distributions under this Plan which can be made without causing
any such payment to be subject to the excise tax under Section 4999 of the Code. The determinations and reductions under this Section
11(d)(ii) shall be made after eliminations or reductions, if any, have been made under the Company&rsquo;s Officer Income Continuation
Plan, as amended.</P>

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

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

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iii) Procedure<I>.&nbsp;</I>If
the Auditor determines that this Section 11(d) is applicable to a Grantee, it shall so advise the Committee in writing. The Committee
shall then promptly give the Grantee notice to that effect together with a copy of the detailed calculation supporting such determination
which shall include a statement of the Reduced Amount. Such notice shall also include a description of which and how much of the Awards
shall be eliminated or reduced (as long as their aggregate present value equals the Reduced Amount). For purposes of this Section 11(d),
Awards shall be reduced in the following order: (1) Options with an exercise price above the then Fair Market Value of a share of Common
Stock that have a positive value for purposes of Section 280G of the Code, as determined under applicable IRS guidance; (2) pro rata among
Awards that constitute deferred compensation subject to Code Section 409A; and (3) if a further reduction is necessary to reach the Reduced
Amount, among the Awards that are not subject to Code Section 409A. Present value shall be determined in accordance with Code Section
280G. All the foregoing determinations made by the Auditor under this Section 11(d) shall be made as promptly as practicable after it
is determined that excess parachute payments (as defined in Section 280G of the Code) will be made to the Grantee if an elimination or
reduction is not made. As promptly as practicable, the Company shall provide to or for the benefit of the Grantee such amounts and shares
as are then due to the Grantee under this Plan and shall promptly provide to or for the benefit of the Grantee in the future such amounts
and shares as become due to the Grantee under this Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(iv) Corrections<I>.&nbsp;</I>As
a result of the uncertainty in the application of Section 280G of the Code at the time of the initial determination by the Auditor hereunder,
it is possible that payments or distributions under this Plan will have been made which should not have been made (&ldquo;Overpayment&rdquo;)
or that additional payments or distributions which will have not been made could have been made (&ldquo;Underpayment&rdquo;), in each
case, consistent with the calculation of the Reduced Amount hereunder. In the event that the Auditor, based upon the assertion of a deficiency
by the Internal Revenue Service against the Company or the Grantee which the Auditor believes has a high probability of success, determines
that an Overpayment has been made, any such Overpayment shall be treated for all purposes as a loan to the Grantee which the Grantee shall
repay together with interest at the applicable Federal rate provided for in Section 7872(f)(2) of the Code; provided, however, that no
amount shall be payable by the Grantee if and to the extent such payment would not reduce the amount which is subject to the excise tax
under the Code. In the event that the Auditor, based upon controlling precedent, determines that an Underpayment has occurred, any such
Underpayment shall be promptly paid to or for the benefit of the Grantee together with interest at the applicable Federal rate provided
for in Section 7872(f)(2)(A) of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(v) Non-Cash Benefits<I>.&nbsp;</I>In
making its determination under this Section 11(d), the value of any non-cash benefit shall be determined by the Auditor in accordance
with the principles of Section 280G(d)(3) of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(vi) Determinations Binding<I>.&nbsp;</I>All
determinations made by the Auditor under this Section 11(d) shall be binding upon the Company, the Committee, and the Participant.</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">12. Effective Date and Term of Plan.</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: 36pt">The Plan shall become effective
upon the earlier to occur of its adoption by the Board or its approval by the stockholders of the Company. It shall continue in effect
for a term of ten (10) years unless sooner terminated. Subject to Section 13 below, and Applicable Laws, Awards may be granted under the
Plan upon its becoming effective.</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">13. Amendment, Suspension or Termination of the Plan.</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: 36pt">(a)
The Board may at any time amend, suspend or terminate the Plan. The Company shall submit any amendment of the Plan to its shareholders
for approval only to the extent required by applicable laws or regulations or the rules of any securities exchange on which the Shares
may then be listed. No termination, suspension, or amendment of the Plan may materially impair the rights of any Participant under a previously
granted Award without the Participant&rsquo;s consent, unless such action is necessary to comply with applicable law or stock exchange
rules. To the extent necessary to comply with Applicable Laws, the Company shall obtain stockholder approval of any Plan amendment in
such a manner and to such a degree as required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b) No Award
may be granted during any suspension of the Plan or after termination of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(c) Any amendment, suspension
or termination of the Plan (including expiration of the Plan under Section 11) shall not affect Awards already granted, and such Awards
shall remain in full force and effect as if the Plan had not been amended, suspended or terminated, unless mutually agreed otherwise
between the Grantee and the Administrator, which agreement must be in writing and signed by the Grantee and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(d) Amendment of Awards. Subject to Section 13(e), the Committee may unilaterally amend the terms of any Agreement previously granted,
except that no such amendment may materially impair the rights of any Grantee under the applicable Award without the Grantee&rsquo;s
consent, unless such amendment is necessary to comply with applicable law or stock exchange rules.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(e) No Option or SAR Repricing.
Except as provided in Section 11(a), no Option or Stock Appreciation Right granted under the Plan may be amended to decrease the exercise
price thereof, be cancelled in exchange for the grant of any new Option or Stock Appreciation Right with a lower exercise price or any
new Award, be repurchased by the Company or any Related Party, or otherwise be subject to any action that would be treated under accounting
rules or otherwise as a &ldquo;repricing&rdquo; of such Option or Stock Appreciation Right (including a cash buyout or voluntary surrender/subsequent
regrant of an underwater Option or Stock Appreciation Right), unless such action is first approved by the Company&rsquo;s shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><B>(</B>f) Substitute Awards.&nbsp;The
Committee may also grant Awards under the Plan in substitution for, or in connection with the assumption of, existing awards granted or
issued by another corporation and assumed or otherwise agreed to be provided for by the Company pursuant to or by reason of a transaction
involving a merger, consolidation, acquisition of property or stock, separation, corporate reorganization or liquidation to which the
Company or a Subsidiary is a party. The terms and conditions of the Substitute Awards may vary from the terms and conditions set forth
in the Plan to the extent that the Board at the time of the grant may deem appropriate to conform, in whole or in part, to the provisions
of the awards in substitution for which they are granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">14. Reservation of Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(a)
The Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to
satisfy the requirements of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b)
The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company&rsquo;s
counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect
of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">15. No Effect on Terms of Employment/Consulting Relationship.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The Plan shall not confer upon
any Grantee any right with respect to the Grantee&rsquo;s Continuous Service, nor shall it interfere in any way with his or her right or the
Company&rsquo;s right to terminate the Grantee&rsquo;s Continuous Service at any time, with or without cause.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">16. Unfunded Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Unless otherwise determined
by the Board or the Committee, the Plan shall be unfunded and shall not create (or construed to create) a trust or a separate fund or
funds. The Plan shall not establish any fiduciary relationship between the Company and any Grantee or other person. To the extent any
person holds any rights by virtue of an Award granted under the Plan, such right (unless otherwise determined by the Board or the Committee)
shall be no greater than the right of an unsecured general creditor of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">17. No Effect on Retirement and Other Benefit
Plans.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Except as specifically provided
in a retirement or other benefit plan of the Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing
benefits or contributions under any retirement plan of the Company or a Related Entity, and shall not affect any benefits under any other
benefit plan of any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to
level of compensation. The Plan is not a &ldquo;Retirement Plan&rdquo; or &ldquo;Welfare Plan&rdquo; under the Employee Retirement Income
Security Act of 1974, as amended.</P>

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

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

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">18. Stockholder Approval.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The grant of Incentive Stock
Options under the Plan shall be subject to approval by the stockholders of the Company within twelve (12) months before or after the date
the Plan is adopted by the Board excluding Incentive Stock Options issued in substitution for outstanding Incentive Stock Options pursuant
to Section 424(a) of the Code. Such stockholder approval shall be obtained in the degree and manner required under Applicable Laws. The
Administrator may grant Incentive Stock Options under the Plan prior to approval by the stockholders, but until such approval is obtained,
no such Incentive Stock Option shall be exercisable. In the event that stockholder approval is not obtained within the twelve (12) month
period provided above, all Incentive Stock Options previously granted under the Plan shall be exercisable as Non-Qualified Stock Options.</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">19. Other Provisions.</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: 36pt">(a) Compliance with Applicable
Legal Requirements. No Shares distributable pursuant to the Plan shall be issued and delivered unless the issuance of the Shares complies
with all applicable legal requirements, including compliance with the provisions of applicable state, federal and foreign securities laws,
and the requirements of any securities exchanges on which the Company&rsquo;s Shares may, at the time, be listed. No such restriction
shall affect the termination date of an Award, which shall be suspended until such restriction is removed. During any period in which
the offering and issuance of Shares under the Plan are not registered under federal or state securities laws, Grantees shall acknowledge
that they are acquiring Shares under the Plan for investment purposes and not for resale, and that Shares may not be transferred except
pursuant to an effective registration statement under, or an exemption from the registration requirements of, such securities laws. Any
book-entry or stock certificate evidencing Shares issued under the Plan that are subject to such securities law restrictions shall be
accompanied by or bear an appropriate restrictive legend.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b) Other Benefit and Compensation
Programs. Payments and other benefits received by a Grantee under an Award made pursuant to the Plan shall not be deemed a part of a Grantee&rsquo;s
regular, recurring compensation for purposes of the termination, indemnity or severance pay laws of any country and shall not be included
in, nor have any effect on, the determination of benefits under any other employee benefit plan, contract or similar arrangement provided
by the Company or a Related Party unless expressly so provided by such other plan, contract or arrangement, or unless the Committee expressly
determines that an Award or portion of an Award should be included to accurately reflect competitive compensation practices or to recognize
that an Award has been made in lieu of a portion of competitive cash compensation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(c) Governing Law. To the extent
that federal laws do not otherwise control, the Plan and all determinations made and actions taken pursuant to the Plan shall be governed
by the laws of the State of New York without regard to its conflicts-of-law principles and shall be construed accordingly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(d) Severability. If any provision
of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the
Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included.</P>

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

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

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(e) Code Section 409A. (i)
It is intended that (X) all Awards of Options, SARs and Restricted Stock under the Plan will not provide for the deferral of compensation
within the meaning of Code Section 409A and thereby be exempt from Code Section 409A, and (Y) all other Awards under the Plan will either
not provide for the deferral of compensation within the meaning of Code Section 409A, or will comply with the requirements of Code Section
409A, and Awards shall be administered and interpreted in accordance with this intent. The Plan and any Agreement may be unilaterally
amended by the Company in any manner deemed necessary or advisable by the Committee or Board in order to maintain such exemption from
or compliance with Code Section 409A, and any such amendment shall conclusively be presumed to be necessary to comply with applicable
law. Notwithstanding anything to the contrary in the Plan or any Agreement, with respect to any Award that constitutes a deferral of compensation
subject to Code Section 409A:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 72pt">(ii) If any amount is payable
under such Award upon a termination of Service, a termination of Service will be deemed to have occurred only at such time as the Participant
has experienced a &ldquo;separation from service&rdquo; as such term is defined for purposes of Code Section 409A;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 72pt">(iii) If any amount shall be
payable with respect to any such Award as a result of a Grantee&rsquo;s &ldquo;separation from service&rdquo; at such time as the Grantee
is a &ldquo;specified employee&rdquo; within the meaning of Code Section 409A, then no payment shall be made, except as permitted under
Code Section 409A, prior to the first business day after the earlier of (i) the date that is six months after the Grantee&rsquo;s separation
from service or (ii) the Grantee&rsquo;s death. Unless the Committee has adopted a specified employee identification policy as contemplated
by Code Section 409A, specified employees will be identified in accordance with the default provisions specified under Code Section 409A.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 72pt">(iv) Any cancellation or termination
of an Award and its liquidation may only be made if and only to the extent and at the time permitted under Code Section 409A.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(f) Rule 16b-3. It is intended
that the Plan and all Awards granted pursuant to it to Grantee who are subject to Section 16 of the Exchange Act shall be administered
by the Committee so as to permit the Plan and Awards to comply with Exchange Act Rule 16b-3. If any provision of the Plan or of any Award
would otherwise frustrate or conflict with the intent expressed in this Section 16(h), that provision to the extent possible shall be
interpreted and deemed amended in the manner determined by the Committee so as to avoid the conflict. To the extent of any remaining irreconcilable
conflict with this intent, the provision shall be deemed void as applied to Participants subject to Section 16 of the Exchange Act to
the extent permitted by law and in the manner deemed advisable by the Committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(g) Compensation Recoupment
Policy. Awards may be made subject to any compensation recoupment policy adopted by the Board or the Committee at any time prior to or
after the effective date of the Plan, and as such policy may be amended from time to time after its adoption. The compensation recoupment
policy shall be applied to any Award that constitutes the deferral of compensation subject to Code Section 409A in a manner that complies
with the requirements of Code Section 409A.</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">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>ea159393ex23-1_airindustries.htm
<DESCRIPTION>CONSENT OF ROTENBERG MERIL SOLOMON BERTIGER & GUTTILLA, P.C., INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><B>Exhibit 23.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">We consent to the incorporation by reference
in this Registration Statement on Form&nbsp;S-8&nbsp;of our report dated March 25, 2022 on our audits of the consolidated financial statements
of Air Industries Group and Subsidiaries as of and for the years ended December 31, 2021 and 2020,  which was included in
the Annual Report on Form 10-K of the Company filed March 25, 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">/S/ Rotenberg Meril Solomon Bertiger &amp;
Guttilla, P.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Rotenberg Meril Solomon Bertiger &amp; Guttilla,
P. C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Certified Public Accountants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Saddle Brook, New Jersey</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">May&nbsp;6, 2022</P>

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

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>5
<FILENAME>ea159393ex-fee_airindustries.htm
<DESCRIPTION>FILING FEE TABLE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><B>Exhibit 107</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>Calculation of Filing
Fee Tables</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>Form&nbsp;S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>(Form Type)</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>AIR
INDUSTRIES GROUP</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><U>Table 1: Newly Registered
Securities</U></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border: black 1pt solid; padding-left: 8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Security&nbsp;Type</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-bottom: 3pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Security<BR>
    Class</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Title</P></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee<BR>
Calculation<BR>
Rule</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount<BR>
Registered(1)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposed<BR>
Maximum<BR>
Offering<BR>
Price&nbsp;Per<BR>
Share</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-bottom: 3pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Maximum<BR>
    Aggregate<BR>
    Offering</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Price</P></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-bottom: 3pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Fee</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Rate</P></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-bottom: 3pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Amount of<BR>
    Registration</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Fee</P></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 8pt; text-align: center; width: 19%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common&nbsp;Stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 3%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000,000</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.8203</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">820,300</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 3%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.0000927</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">76.04</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 2pt; width: 3%">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="10" STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Offering Amounts</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">820,300</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">76.04</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="10" STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Fee Offsets</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="10" STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-left: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net Fee Due</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">76.04</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 2pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), the registration statement on Form S-8 to which this exhibit relates shall also cover any additional shares of the common stock, $0.001 par value ( &ldquo;Common Stock&rdquo;), of Air Industries Group that become issuable with respect to the securities identified in the above table, by reason of any stock dividend, stock splits, reverse stock splits, recapitalizations, reclassifications, mergers, split-ups, reorganizations, consolidations and other capital adjustments effected without receipt of consideration that increases the number of outstanding shares of Common Stock.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents shares of Common Stock to be issued pursuant to the grant, vesting or exercise of awards under the Air Industries Group 2022 Equity Incentive Plan.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act, based on $0.8203, the average of the high and low sales price of a share of Common Stock as reported on the NYUSE American on May 3, 2022.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>ex5-1_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 ex5-1_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" !D 00# 2(  A$! Q$!_\0
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M7QWTS([?:9N?IFV _7IZUBZEX.U[2HS/<6"20*-SS6<@N%CP>KKA9 N,98H
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MO<V%R+](MS20-'Y5QY8)YCVLZR''484\9 .<#S<X!R059<X_AD0C@X8<AE/
M(/!J9YABZ%10Q-!6WYJ<DDWIIS+3N^5[?(AUZB;3@EY]/EW/KY6##(Z>QS^M
M.KS_ .'>I27NA&&1B[V-X]N6<EF*2HERH+%BS;/-=%9N=J*"6()/H%>S1J*M
M2IU4FE4BI)/=:M6=O1G1!\T8R>EU>WW_ .04445H4%(3@$^G^-+2,,@C_/6A
MZZ=_D!Y'\4D#6NE2=&%U,BX &%:)6*Y[@F('ZG/:O'*]J^)P_P")?II_Z?)1
M_P"2\AKQ6OE\S26+EOJH7NV^B77;3L<E:-IMVMS:^O3\S2T89U?2AZZC9?\
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M?9GBE:"Y\N?RV6=D$;J[=]-?V=LCO<W$5NB %WGD2)%!8*-SN0@RQ"C+#+'
MR:\C^#7AZRTKP='K+^"/#?@GQ1K\4<FOVWA^2QNEO&TAKG3]#FO=7LM)TG^T
M3#ID<+6K7-DTEA;3+9EI#"Q;YN^!4/A;]H2V^,?Q ^-&C:;XSN/"GQX^,OPZ
MT+PMXLLH]:\/> ?#/PV\1:GX(LK2Q\*7T=YHUMKFNZ5ID_B/Q!KAL)M=U(^(
MY--EOVT2TTS3;/VXYC/V>70E"FL3CZ/MH1DZD:48JA&NXN3A[3G5-Q33@I<W
M/=)([5B)N.&5DZF(C.?\L5&%/VKW>C4&FUVN_A5S[QBNH)O]6X<;0V5^9<,
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M<7[*/-**FWRJ26Z;NKJZ1]ZQWMM,JO#()D;:5>+]XI#@E2&7*D$#@@GG ZD
MM%_;,_EB3+[B@ &<MM+  C(.55V'^RI8X&"?SO\ V1]0/@K]G+X(6_AVTLK*
MRO?A/\/=7OK*&T1+6^U;4/".C7VI:G=F)5:74]1OYWNKZ^E=KF[NYFGNI)II
M-QU?V,M)\$:9XY_:]NM \-:#X:U&[_:.>)[?2K&TLY1I@^#_ ,(]5^RQ26T4
M+-IT6M:KK&J&VC"VL-]J]_=/&)[N>67U\%GD<6\HC&FE+,J?-.+E&/L6\O\
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MK)*(F,:BON-E#<'!&""#D@@]01G'Y@^U>;>)?A_97ZS7NF$V=\?G\E3BTN6
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M>_\ , HHHH^;^]_Y@%%%%'S?WO\ S ****J'Q+5]>K[>; ****V **** $/
M/T-1;V]?T'^%%% #:G7H/H/Y445$]$K-K7N^P$3_ 'C^'\A3TZ'Z_P!!112E
M\">O3J_\P'T4454/A7S_ # ****H HHHK*INM]N[77R: ****F[[O[V Q2=S
9<GO_ #I]%%:+XD_[G^0!1115@%%%% '_V0$!

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