<SEC-DOCUMENT>0001213900-23-018546.txt : 20230308
<SEC-HEADER>0001213900-23-018546.hdr.sgml : 20230308
<ACCEPTANCE-DATETIME>20230308161254
ACCESSION NUMBER:		0001213900-23-018546
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		7
FILED AS OF DATE:		20230308
DATE AS OF CHANGE:		20230308
EFFECTIVENESS DATE:		20230308

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ReTo Eco-Solutions, Inc.
		CENTRAL INDEX KEY:			0001687277
		STANDARD INDUSTRIAL CLASSIFICATION:	ABRASIVE ASBESTOS & MISC NONMETALLIC MINERAL PRODUCTS [3290]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-270355
		FILM NUMBER:		23716269

	BUSINESS ADDRESS:	
		STREET 1:		C/O BEIJING REIT TECHNOLOGY CO. LTD.
		STREET 2:		24TH FL., BLDG. B, ANLI RD., CHAOYANG
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100001
		BUSINESS PHONE:		(86) 10-64827328

	MAIL ADDRESS:	
		STREET 1:		C/O BEIJING REIT TECHNOLOGY CO. LTD.
		STREET 2:		24TH FL., BLDG. B, ANLI RD., CHAOYANG
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100001
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>ea174767-s8_retoeco.htm
<DESCRIPTION>REGISTRATION STATEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on March 8, 2023</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</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>ReTo Eco-Solutions, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in 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%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>British Virgin Islands</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Not Applicable</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</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>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>c/o Beijing REIT Technology Development Co.,
    Ltd.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>X-702, Tower A, 60 Anli Road, Chaoyang District,
    Beijing, People&rsquo;s Republic of China</B></P></TD>
    <TD STYLE="width: 2%; text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>100101</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address of Principal Executive Offices)</FONT></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">(Zip Code)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: black 1.5pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; padding-left: 5.15pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Full Title of the Plan)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>25 Robert Pitt Dr., Suite 204</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Monsey, New York 10952</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name and address of agent for service)</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>Tel: (888) 528-2677</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Telephone number, including area code, of agent
for service)</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><I>With copies to:</I></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Wei Wang, 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, 11th Floor</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10105</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Phone: (212) 370-1300</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fax: (212) 370-7889</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.2pt">Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, anon-accelerated filer, a smaller reporting company or an emerging
growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting
company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Securities Exchange Act of 1934 (the &ldquo;Exchange Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt">&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: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 56%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 22%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 4%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</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">Emerging growth company</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.9pt; text-align: justify; text-indent: 19.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.2pt">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. &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.2pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.2pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.2pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This registration statement
on Form S-8 (the &ldquo;Registration Statement&rdquo;) is being filed by ReTo Eco-Solutions, Inc., a British Virgin Islands (&ldquo;BVI&rdquo;)
business company, registered in the BVI with company number 1885527 (the &ldquo;Company&rdquo;, &ldquo;we&rdquo;, &ldquo;us&rdquo;, &ldquo;our&rdquo;
or similar terminology) relating to an aggregate of 7,169,944 common shares, par value $0.001 per share (the &ldquo;Common Shares&rdquo;),
which are reserved for issuance under the ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan (the &ldquo;2022 Plan&rdquo;). This Registration
Statement is being filed in order to register the Common Shares that may be offered or sold to participants under the 2022 Plan, either
directly or upon exercise of options or other share-based awards granted under the 2022 Plan.</P>

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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 1.</B></FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Plan Information.*</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 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="text-align: justify; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2.</B></FONT></TD>
    <TD STYLE="text-align: justify; width: 93%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registrant Information and Employee Plan Annual Information.*</B></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: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
documents containing the information specified in Item 1 and Item 2 of Part I of Form S-8 (Plan Information and Registration Information
and Employee Plan Annual Information) will be sent or given to recipients of the grants under the 2022 Plan as specified by Rule 428(b)(1)
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). In accordance with the rules and regulations of the
Securities and Exchange Commission (the &ldquo;Commission&rdquo;) and the instructions to Form S-8, such documents are not being filed
with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under
the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of
Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act. The Company
will provide a written statement to participants advising them of the availability without charge, upon written or oral request, of the
documents incorporated by reference in Item 3 of Part II hereof and including the statement in the preceding sentence. The written statement
to all participants will indicate the availability without charge, upon written or oral request, of other documents required to be delivered
pursuant to Rule 428(b) of the Securities Act, and will include the address and telephone number to which the request is to be directed.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3.</B>&nbsp;<B>Incorporation of Documents by Reference.</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; text-indent: 0.5in">The Company is subject to the informational requirements
of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). The Commission maintains a website (www.sec.gov)
that contains reports, proxy and information statements and other information regarding registrants that file electronically with the
Commission, including the Company. The following documents filed by the Company with the Commission are incorporated herein by reference:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&rsquo;s Annual Report on&nbsp;<A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/1687277/000121390022023161/f20f2021_retoeco.htm">Form 20-F</A>&nbsp;(File No. 001-38307) for the fiscal year ended December 31, 2021 filed with the Commission on May 2, 2022; &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&rsquo;s Reports of Foreign Private Issuer on Form 6-K furnished to the Commission on&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390022023170/ea159190-6k_retoeco.htm">May 2, 2022</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390022030738/ea160856-6k_retoeco.htm">June 1, 2022</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390022031840/ea161335-6k_retoeco.htm">June 9, 2022</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390022050054/ea164732-6k_retoeco.htm">August 22, 2022</A>, <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/1687277/000121390022064088/ea167065-6k_retoeco.htm">October 14, 2022</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390022068658/ea167942-6k_retoeco.htm">November 2, 2022</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390022068755/f6k1122_retoeco.htm">November 3, 2022</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390022077977/ea169712-6k_retoeco.htm">December 6, 2022</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390022078750/ea169873-6k_reto.htm">December 9, 2022</A>, respectively, including all the exhibits thereto; and &nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The description of the Company&rsquo;s Common Shares, incorporated by reference in the Company&rsquo;s registration statement on&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390017012677/f8a12b111017_retoecosolution.htm">Form 8-A</A>&nbsp;filed (File No. 001-38307) with the Commission on November 28, 2017, and any amendment or report filed for the purpose of updating such description.</FONT></TD></TR>
  </TABLE>
<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except to the extent such information is deemed
furnished and not filed pursuant to securities laws and regulations, all documents that we file with the Commission pursuant to Section
13(a), 13(c), 14 or 15(d) of the Exchange Act and, to the extent specifically designated therein, reports on Form 6-K furnished by the
Company to the Commission, in each case, subsequent to the date of this Registration Statement and prior to the filing of a post-effective
amendment to this Registration Statement (that indicates that all securities offered under this Registration Statement have been sold
or that deregisters all securities then remaining unsold) shall be deemed to be incorporated by reference in this Registration Statement
and to be part hereof from the date of filing or furnishing of such documents.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any statement contained herein or in a document
all or a portion of which is incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document
which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified
or superseded shall 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; text-align: justify; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon written or oral request, we shall provide
without charge to each person, including any beneficial owner, a copy of any or all of the documents that are incorporated by reference
to this Registration Statement but not delivered with this Registration Statement. You may request a copy of these filings by contacting
us at ReTo Eco-Solutions, Inc., X-702, Tower A, 60 Anli Road, Chaoyang District, Beijing, People&rsquo;s Republic of China 100101, Attention:
Chief Executive Officer, Telephone: (+86) 10-64827328.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 4.</B>&nbsp;<B>Description of Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt; text-indent: 8.9pt">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"><B>Item 5.</B>&nbsp;<B>Interests of Named Experts and Counsel.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt; text-indent: 8.9pt">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6.</B>&nbsp;<B>Indemnification of Directors and Officers.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The BVI Business Companies
Act, 2004 (as amended) (the &ldquo;Act&rdquo;), allows a BVI company to indemnify any current or former director against any expense,
judgment, fine or amount paid in settlement and reasonably incurred in connection with any legal, administrative or investigative proceedings
brought against the director because the director served as a director of the company if: (i) the director acted honestly and in good
faith and in what the director believed to be in the best interests of the company; and (iii) (in the case of criminal proceedings) the
director had no reasonable cause to believe that the director&rsquo;s conduct was unlawful. An indemnity that breaches the Act is void.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Act allows a BVI company
to pay any expenses incurred by any current or former director in defending any legal, administrative or investigative proceedings before
the proceedings are finally concluded if the company is given an undertaking from, or on behalf of, the director to repay all amounts
paid by the company if it is ultimately determined that the director is not entitled to be indemnified by the company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With regard to conflicts of
interest, any director of the Company who is interested in a transaction into which the Company has entered or will enter may vote on
a matter relating to that transaction as long as he or she has disclosed the interest to each other director of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are permitted under the
amended and restated memorandum and articles of association of the Company, currently in effect and as amended from time to time (the
&ldquo;M&amp;A&rdquo;), to purchase directors and officers insurance for each of the directors and officers of the Company whether or
not the Company has the power to indemnify that person under the M&amp;A.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Company pursuant to
the foregoing provisions, the Company has been informed that in the opinion of the Commission such indemnification is against public policy
as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.9pt 0pt 7.9pt; text-indent: 19.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7.</B>&nbsp;<B>Exemption from Registration Claimed.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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"><B>Item 8.</B>&nbsp;<B>Exhibits.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following exhibits are filed with this Registration
Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 84.65pt 0pt 81pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;No.</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    Description</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea174767ex4-1_retoeco.htm">ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan</A></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1687277/000121390017010565/ff12017a1ex4i_retoecosol.htm">Specimen Common Share Certificate (incorporated herein by reference to Exhibit 4.1 to the Registration Statement on Form F-1/A (Registration No. 333-219709) filed on November 13, 2017)</A></FONT></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</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea174767ex5-1_retoeco.htm">Opinion of Mourant Ozannes regarding the legality of the securities being registered</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea174767ex23-1_retoeco.htm">Consent of YCM CPA Inc.</A></FONT></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</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea174767ex5-1_retoeco.htm">Consent of Mourant Ozannes (included in Exhibit 5.1)</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney (included
    on the signature page).</FONT></A></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</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea174767ex-fee_retoeco.htm">Filing Fee Table</A></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"></P>

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    <!-- 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"><B>Item 9.</B>&nbsp;<B>Undertakings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.9pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) The undersigned registrant hereby undertakes:</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: 0.5in">(1) To file, during any period
in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 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 0pt 0in; text-align: justify; text-indent: 1in">(i) to include any prospectus
required by Section 10(a)(3) of the Securities Act;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(ii) 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;
and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(iii) to include any material information with respect to the plan
of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration
Statement.</P>

<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"><I>provided, however</I>, that paragraphs (a)(1)(i)
and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that
are incorporated by reference in this Registration Statement;</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: 0.5in">(2) 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&nbsp;<I>bona
fide</I>&nbsp;offering thereof.</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: 0.5in">(3) To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.85pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) 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 Section 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 the Registration Statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial&nbsp;<I>bona fide</I>&nbsp;offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.85pt; background-color: white">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.85pt; background-color: white">&nbsp;</P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 152.1pt 0pt 148.4pt; text-align: center"><B>SIGNATURES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in Beijing, China, on March 8, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.2pt 0pt 7.9pt">&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>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ReTo Eco-Solutions, Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&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"><I>/s/ Hengfang Li</I></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">Hengfang Li</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 Executive Officer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Principal Executive Officer)</P></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%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 35%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Yue Hu</I></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">Yue Hu</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 150.35pt 0pt 148.4pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 150.35pt 0pt 148.4pt; text-align: center"><B><A NAME="a_001"></A>POWER OF ATTORNEY</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 29.7pt">KNOW ALL PERSONS BY THESE
PRESENTS, that each person whose signature appears below constitutes and appoints Hengfang Li as his or her true and lawful attorney-in-fact
and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to
sign any and all amendments (including post-effective amendments and registration statements filed pursuant to Rule 462(b) under the Securities
Act of 1933) to this Registration Statement and to file the same, with all exhibits thereto and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform
each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might
or could do in person, hereby ratifying and confirming all that each of said attorney-in-fact and agent or his substitutes or substitute,
may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 29.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 29.7pt">Pursuant to the requirements
of the Securities Act of 1933, this Form S-8 has been signed by the following persons in the capacities indicated on March 8, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 29.7pt">&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: 49%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Hengfang Li</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board and Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hengfang Li</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Yue Hu</I></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 STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yue Hu</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial and Accounting Officer)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Guangfei Dai</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Operating Officer and Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guangfei Dai</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Tonglong Liu</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tonglong Liu</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Lidong Liu</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lidong Liu</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Baoqing Sun</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baoqing Sun</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Zhizhong Hu</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zhizhong Hu</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Austin Huang</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Austin Huang</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12pt 0pt 0"><B></B>&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>AUTHORIZED
U.S. REPRESENTATIVE</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Securities
Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of ReTo Eco-Solutions, Inc., has signed
this Registration Statement in New York, NY on March 8, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 173.25pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Authorized U.S. Representative</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Xinran Li</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 62%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Xinran Li</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-5</P>

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<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>ea174767ex4-1_retoeco.htm
<DESCRIPTION>RETO ECO-SOLUTIONS, INC. 2022 SHARE INCENTIVE PLAN
<TEXT>
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	<DIV CLASS="Basic-Text-Frame" STYLE="margin:0;padding:0;border-width:0;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;text-align:right;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Exhibit
  4.1</FONT></P>
		<P CLASS="ParaOverride-2" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:center;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">RETO ECO-SOLUTIONS, INC.</FONT></P>
		<P CLASS="ParaOverride-2" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:center;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-2" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:underline;">2022 SHARE INCENTIVE PLAN  2022</FONT><FONT CLASS="CharOverride-3" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5e74;&#x80a1;&#x6743;&#x6fc0;&#x52b1;&#x8ba1;&#x5212;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">1. </FONT><FONT CLASS="CharOverride-2" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:underline;">Purpose and Effective Date</FONT><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">1.&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x76ee;&#x7684;&#x548c;&#x751f;&#x6548;&#x65e5;&#x671f;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) The purpose of the ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan (the &#x201c;Plan&#x201d;) is to further the long-term stability and financial success of ReTo Eco-Solutions, Inc. (the &#x201c;Company&#x201d;) by attracting and retaining personnel, including employees, non-employee directors, and consultants, through the use of stock incentives. It is believed that ownership of Company stock will stimulate the efforts of those employees upon whose judgment, interest and efforts the Company is and will be largely dependent for the successful conduct of its business.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) ReTo Eco-Solutions, Inc. 2022</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;&#x80a1;&#x6743;&#x6fc0;&#x52b1;&#x8ba1;&#x5212;&#xff08;&#x4ee5;&#x4e0b;&#x7b80;&#x79f0;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x8ba1;&#x5212;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x7684;&#x76ee;&#x7684;&#x662f;&#x901a;&#x8fc7;&#x4f7f;&#x7528;&#x80a1;&#x7968;&#x6fc0;&#x52b1;&#x63aa;&#x65bd;&#x5438;&#x5f15;&#x548c;&#x7559;&#x4f4f;&#x5458;&#x5de5;&#xff08;&#x5305;&#x62ec;&#x96c7;&#x5458;&#x3001;&#x975e;&#x96c7;&#x5458;&#x8463;&#x4e8b;&#x548c;&#x987e;&#x95ee;&#xff09;&#xff0c;&#x4fc3;&#x8fdb;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">ReTo Eco-Solutions, Inc.</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x957f;&#x671f;&#x7a33;&#x5b9a;&#x548c;&#x8d22;&#x52a1;&#x6210;&#x529f;&#x3002;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x516c;&#x53f8;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x957f;&#x671f;&#x7a33;&#x5b9a;&#x548c;&#x8d22;&#x52a1;&#x6210;&#x529f;&#x3002;&#x6211;&#x4eec;&#x76f8;&#x4fe1;&#xff0c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x6240;&#x6709;&#x6743;&#x5c06;&#x6fc0;&#x52b1;&#x8fd9;&#x4e9b;&#x5458;&#x5de5;&#x7684;&#x52aa;&#x529b;&#xff0c;&#x516c;&#x53f8;&#x4e1a;&#x52a1;&#x7684;&#x6210;&#x529f;&#x5f00;&#x5c55;&#x5728;&#x5f88;&#x5927;&#x7a0b;&#x5ea6;&#x4e0a;&#x53d6;&#x51b3;&#x4e8e;&#x4ed6;&#x4eec;&#x7684;&#x5224;&#x65ad;&#x3001;&#x5174;&#x8da3;&#x548c;&#x52aa;&#x529b;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The Plan was adopted by the Board of Directors of the Company on </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">November 2</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">, 2022 (the &#x201c;Effective Date&#x201d;), subject to shareholder approval.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x672c;&#x8ba1;&#x5212;&#x7531;&#x516c;&#x53f8;&#x8463;&#x4e8b;&#x4f1a;&#x4e8e;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">2022</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;"> </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">11</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6708;2&#x65e5;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x751f;&#x6548;&#x65e5;&#x671f;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x901a;&#x8fc7;&#xff0c;&#x4f46;&#x987b;&#x7ecf;&#x80a1;&#x4e1c;&#x6279;&#x51c6;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">2.&#x00a0;</FONT><FONT CLASS="CharOverride-2" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:underline;">Definitions</FONT><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">2.</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5b9a;&#x4e49;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Act</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The U.S. Securities Exchange Act of 1934, as amended.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6cd5;&#x6848;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x7ecf;&#x4fee;&#x8ba2;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">1934</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;&#x7684;&#x7f8e;&#x56fd;&#x300a;&#x8bc1;&#x5238;&#x4ea4;&#x6613;&#x6cd5;&#x300b;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Affiliate</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The meaning assigned to the term &#x201c;affiliate&#x201d; under Rule 12b-2 of the Act.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5173;&#x8054;&#x516c;&#x53f8;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x6cd5;&#x6848;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12b-2</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x5c31;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5173;&#x8054;&#x516c;&#x53f8;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e00;&#x8bcd;&#x6240;&#x8d4b;&#x4e88;&#x7684;&#x542b;&#x4e49;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Applicable Withholding Taxes</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The aggregate amount of federal, state and local income and payroll taxes that the Company or its Affiliate is required to withhold (based on the minimum applicable statutory withholding rates) in connection with any exercise of an Option or the Award, lapse of restrictions or payment with respect to Restricted Stock.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x9002;&#x7528;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x6b3e;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x56e0;&#x884c;&#x4f7f;&#x671f;&#x6743;&#x6216;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5956;&#x52b1;&#xff0c;&#x6216;&#x8005;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x9650;&#x5236;&#x5931;&#x6548;&#x6216;&#x652f;&#x4ed8;&#x800c;&#x987b;&#x9884;&#x6263;&#x7684;&#x8054;&#x90a6;&#x3001;&#x5dde;&#x548c;&#x5730;&#x65b9;&#x6240;&#x5f97;&#x7a0e;&#x548c;&#x5de5;&#x8d44;&#x7a0e;&#x7684;&#x603b;&#x989d;&#xff08;&#x6839;&#x636e;&#x6700;&#x4f4e;&#x9002;&#x7528;&#x7684;&#x6cd5;&#x5b9a;&#x9884;&#x6263;&#x7387;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Award</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The award of an Option or Restricted Stock under the Plan.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5956;&#x52b1;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x671f;&#x6743;&#x6216;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Beneficiary</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The person or persons entitled to receive a benefit pursuant to an Award upon the death of a Participant.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x53d7;&#x76ca;&#x4eba;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x6709;&#x6743;&#x5728;&#x53c2;&#x4e0e;&#x4eba;&#x6b7b;&#x4ea1;&#x540e;&#x6839;&#x636e;&#x5956;&#x52b1;&#x83b7;&#x5f97;&#x5229;&#x76ca;&#x7684;&#x4eba;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(f)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Board</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The Board of Directors of the Company.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family: Times New Roman PS Std, serif; font-size: 10pt; font-style: normal; font-weight: normal">(f)&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family: Adobe Song Std L, serif; font-size: 10pt; font-style: normal; font-weight: 300"><U>&#x8463;&#x4e8b;&#x4f1a;</U>&#x3002;&#x6307;&#x672c;&#x516c;&#x53f8;&#x7684;&#x8463;&#x4e8b;&#x4f1a;&#x3002;</FONT></P>
		</DIV>

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	<DIV CLASS="Basic-Text-Frame" STYLE="margin:0;padding:0;border-width:0;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(g)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Cause</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Dishonesty, fraud, misconduct, gross incompetence, gross negligence, breach of a material fiduciary duty, material breach of an agreement with the Company or its Affiliate, unauthorized use or disclosure of confidential information or trade secrets, or conviction or confession of a crime punishable by law (except minor violations), in each case as determined by the Committee, which determination shall be binding. Notwithstanding the foregoing, if &#x201c;Cause&#x201d; is defined in an employment agreement between a Participant and the Company (or its Affiliate), &#x201c;Cause&#x201d; shall have the meaning assigned to it in such agreement.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(g)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x539f;&#x56e0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x4e0d;&#x8bda;&#x5b9e;&#x3001;&#x6b3a;&#x8bc8;&#x3001;&#x884c;&#x4e3a;&#x4e0d;&#x7aef;&#x3001;&#x4e25;&#x91cd;&#x65e0;&#x80fd;&#x3001;&#x4e25;&#x91cd;&#x758f;&#x5ffd;&#x3001;&#x8fdd;&#x53cd;&#x91cd;&#x5927;&#x53d7;&#x6258;&#x8d23;&#x4efb;&#x3001;&#x4e25;&#x91cd;&#x8fdd;&#x53cd;&#x4e0e;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x7b7e;&#x8ba2;&#x7684;&#x534f;&#x8bae;&#x3001;&#x672a;&#x7ecf;&#x6388;&#x6743;&#x4f7f;&#x7528;&#x6216;&#x62ab;&#x9732;&#x673a;&#x5bc6;&#x4fe1;&#x606f;&#x6216;&#x5546;&#x4e1a;&#x79d8;&#x5bc6;&#x3001;&#x6216;&#x88ab;&#x5b9a;&#x7f6a;&#x6216;&#x4f9b;&#x8ba4;&#x72af;&#x6709;&#x5e94;&#x53d7;&#x6cd5;&#x5f8b;&#x60e9;&#x7f5a;&#x7684;&#x7f6a;&#x884c;&#xff08;&#x8f7b;&#x5fae;&#x8fdd;&#x6cd5;&#x884c;&#x4e3a;&#x9664;&#x5916;&#xff09;&#xff0c;&#x5728;&#x6bcf;&#x79cd;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x51b3;&#x5b9a;&#xff0c;&#x8fd9;&#x79cd;&#x51b3;&#x5b9a;&#x5e94;&#x5177;&#x6709;&#x7ea6;&#x675f;&#x529b;&#x3002;&#x5c3d;&#x7ba1;&#x6709;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#xff0c;&#x5982;&#x679c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> &#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x539f;&#x56e0;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x548c;&#x516c;&#x53f8;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x4e4b;&#x95f4;&#x7684;&#x5c31;&#x4e1a;&#x534f;&#x8bae;&#x4e2d;&#x6709;&#x6240;&#x5b9a;&#x4e49;&#xff0c;&#x5219;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> &#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x539f;&#x56e0;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e94;&#x5177;&#x6709;&#x8be5;&#x534f;&#x8bae;&#x4e2d;&#x8d4b;&#x4e88;&#x5b83;&#x7684;&#x542b;&#x4e49;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(h)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Change of Control</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(h)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x63a7;&#x5236;&#x6743;&#x7684;&#x6539;&#x53d8;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i) The acquisition by any unrelated person of beneficial ownership (as that term is used for purposes of the Act) of 50% or more of the then outstanding common shares of the Company or the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors. The term &#x201c;unrelated person&#x201d; means any person other than (x)&#x00a0;the Company and its subsidiaries, (y)&#x00a0;an employee benefit plan or related trust sponsored by the Company or its subsidiaries, and (z)&#x00a0;a person who acquires stock of the Company pursuant to an agreement with the Company that is approved by the Board in advance of the acquisition. For purposes of this subsection, a &#x201c;person&#x201d; means an individual, entity or group, as that term is used for purposes of the Act;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x4efb;&#x4f55;&#x975e;&#x5173;&#x8054;&#x4eba;&#x58eb;&#x83b7;&#x5f97;&#x672c;&#x516c;&#x53f8;&#x5f53;&#x65f6;&#x5df2;&#x53d1;&#x884c;&#x7684;&#x666e;&#x901a;&#x80a1;&#x6216;&#x672c;&#x516c;&#x53f8;&#x5f53;&#x65f6;&#x5df2;&#x53d1;&#x884c;&#x7684;&#x6709;&#x6295;&#x7968;&#x6743;&#x7684;&#x8bc1;&#x5238;&#x7684;&#x5408;&#x5e76;&#x6295;&#x7968;&#x6743;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">50%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6216;&#x4ee5;&#x4e0a;&#x7684;&#x5b9e;&#x9645;&#x6240;&#x6709;&#x6743;&#xff08;&#x8be5;&#x672f;&#x8bed;&#x7684;&#x4f7f;&#x7528;&#x5e94;&#x53c2;&#x89c1;&#x300a;&#x6cd5;&#x6848;&#x300b;&#xff09;&#xff0c;&#x6709;&#x6743;&#x5728;&#x9009;&#x4e3e;&#x8463;&#x4e8b;&#x65f6;&#x8fdb;&#x884c;&#x6295;&#x7968;&#x3002;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x975e;&#x5173;&#x8054;&#x4eba;&#x58eb;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x662f;&#x6307;&#x9664;&#x4ee5;&#x4e0b;&#x4eba;&#x58eb;&#x5916;&#x7684;&#x4efb;&#x4f55;&#x4eba;&#x58eb;&#xff1a;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">x</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x672c;&#x516c;&#x53f8;&#x53ca;&#x5176;&#x5b50;&#x516c;&#x53f8;&#xff0c;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">y</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x672c;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5b50;&#x516c;&#x53f8;&#x8d5e;&#x52a9;&#x7684;&#x5458;&#x5de5;&#x798f;&#x5229;&#x8ba1;&#x5212;&#x6216;&#x76f8;&#x5173;&#x4fe1;&#x6258;&#xff0c;&#x4ee5;&#x53ca;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">z</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x6839;&#x636e;&#x4e0e;&#x672c;&#x516c;&#x53f8;&#x8fbe;&#x6210;&#x7684;&#x534f;&#x8bae;&#x6536;&#x8d2d;&#x672c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x4eba;&#x58eb;&#xff0c;&#x8be5;&#x534f;&#x8bae;&#x5728;&#x6536;&#x8d2d;&#x524d;&#x5df2;&#x83b7;&#x8463;&#x4e8b;&#x4f1a;&#x6279;&#x51c6;&#x3002;&#x5c31;&#x672c;&#x5206;&#x8282;&#x800c;&#x8a00;&#xff0c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4eba;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> &#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x662f;&#x6307;&#x4e2a;&#x4eba;&#x3001;&#x5b9e;&#x4f53;&#x6216;&#x56e2;&#x4f53;&#xff0c;&#x8be5;&#x672f;&#x8bed;&#x7684;&#x4f7f;&#x7528;&#x5e94;&#x53c2;&#x89c1;&#x300a;&#x6cd5;&#x6848;&#x300b;&#xff1b;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least 50% of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x516c;&#x53f8;&#x4e0e;&#x4efb;&#x4f55;&#x5176;&#x4ed6;&#x516c;&#x53f8;&#x7684;&#x517c;&#x5e76;&#x6216;&#x5408;&#x5e76;&#xff0c;&#x4f46;&#x82e5;&#x8be5;&#x7b49;&#x517c;&#x5e76;&#x6216;&#x5408;&#x5e76;&#x5c06;&#x5bfc;&#x81f4;&#x516c;&#x53f8;&#x5728;&#x517c;&#x5e76;&#x6216;&#x5408;&#x5e76;&#x524d;&#x53d1;&#x884c;&#x7684;&#x6709;&#x8868;&#x51b3;&#x6743;&#x8bc1;&#x5238;&#x5728;&#x8be5;&#x517c;&#x5e76;&#x6216;&#x5408;&#x5e76;&#x540e;&#x4ecd;&#x7136;&#x7ee7;&#x7eed;&#x4ee3;&#x8868;&#x516c;&#x53f8;&#x6216;&#x5b58;&#x7eed;&#x5b9e;&#x4f53;&#x6216;&#x5176;&#x6bcd;&#x516c;&#x53f8;&#x6d41;&#x901a;&#x7684;&#x6709;&#x8868;&#x51b3;&#x6743;&#x8bc1;&#x5238;&#xff08;&#x901a;&#x8fc7;&#x4ecd;&#x7136;&#x4fdd;&#x6301;&#x6d41;&#x901a;&#x6216;&#x8005;&#x88ab;&#x8f6c;&#x6362;&#x4e3a;&#x5b58;&#x7eed;&#x5b9e;&#x4f53;&#x6216;&#x5176;&#x6bcd;&#x516c;&#x53f8;&#x7684;&#x8868;&#x51b3;&#x6743;&#x8bc1;&#x5238;&#x7684;&#x65b9;&#x5f0f;&#xff09;&#x81f3;&#x5c11;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 50% </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x603b;&#x6295;&#x7968;&#x6743;&#x7684;&#x60c5;&#x5f62;&#xff0c;&#x5219;&#x4e0d;&#x5305;&#x542b;&#x5728;&#x5185;&#xff1b;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) The consummation of the sale or disposition by the Company of all or substantially all of the Company&#x2019;s assets; or</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x516c;&#x53f8;&#x5b8c;&#x6210;&#x51fa;&#x552e;&#x6216;&#x8005;&#x5904;&#x7f6e;&#x516c;&#x53f8;&#x5168;&#x90e8;&#x6216;&#x51e0;&#x4e4e;&#x5168;&#x90e8;&#x7684;&#x8d44;&#x4ea7;&#xff1b;&#x6216;&#x8005;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iv) A liquidation of the Company.</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iv) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x516c;&#x53f8;&#x7684;&#x6e05;&#x7b97;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Code</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The U.S. Internal Revenue Code of 1986, as amended.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6cd5;&#x5178;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x7ecf;&#x4fee;&#x8ba2;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">1986</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;&#x7684;&#x7f8e;&#x56fd;&#x300a;&#x56fd;&#x5185;&#x7a0e;&#x6536;&#x6cd5;&#x300b;&#x3002;</FONT></P>
		</DIV>

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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(j)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Committee</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The Compensation Committee of the Board.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(j) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x59d4;&#x5458;&#x4f1a;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x8463;&#x4e8b;&#x4f1a;&#x7684;&#x85aa;&#x916c;&#x59d4;&#x5458;&#x4f1a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(k)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Company</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. ReTo Eco-Solutions, Inc., a business company incorporated in the British Virgin Islands, or any successor thereto.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(k) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x53f8;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">ReTo Eco-Solutions, Inc.</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff0c;&#x4e00;&#x95f4;&#x5728;&#x82f1;&#x5c5e;&#x7ef4;&#x5c14;&#x4eac;&#x7fa4;&#x5c9b;&#x6ce8;&#x518c;&#x6210;&#x7acb;&#x7684;&#x5546;&#x4e1a;&#x516c;&#x53f8;&#x6216;&#x5176;&#x4efb;&#x4f55;&#x7ee7;&#x4efb;&#x516c;&#x53f8;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(l)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Company Stock</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The common shares of the Company. In the event of a change in the capital structure of the Company (as provided in Section&#x00a0;12 below), the shares resulting from such a change shall be deemed to be Company Stock within the meaning of the Plan.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(l)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x53f8;&#x80a1;&#x7968;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x672c;&#x516c;&#x53f8;&#x7684;&#x666e;&#x901a;&#x80a1;&#x3002;&#x5982;&#x679c;&#x516c;&#x53f8;&#x7684;&#x8d44;&#x672c;&#x7ed3;&#x6784;&#x53d1;&#x751f;&#x53d8;&#x5316;&#xff08;&#x5982;&#x4e0b;&#x6587;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x8282;&#x7684;&#x89c4;&#x5b9a;&#xff09;&#xff0c;&#x7531;&#x8fd9;&#x79cd;&#x53d8;&#x5316;&#x4ea7;&#x751f;&#x7684;&#x80a1;&#x4efd;&#x5e94;&#x88ab;&#x89c6;&#x4e3a;&#x672c;&#x8ba1;&#x5212;&#x610f;&#x4e49;&#x4e0a;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(m)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Consultant</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A consultant or adviser who provides bona fide services to the Company, a parent, or a subsidiary as an independent contractor and who qualifies as a consultant or advisor under Instruction A.1.(a)(1) of Form S-8 under the U.S. Securities Act of 1933, as amended.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(m) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x987e;&#x95ee;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x4f5c;&#x4e3a;&#x72ec;&#x7acb;&#x627f;&#x5305;&#x5546;&#x5411;&#x516c;&#x53f8;&#x3001;&#x6bcd;&#x516c;&#x53f8;&#x6216;&#x5b50;&#x516c;&#x53f8;&#x63d0;&#x4f9b;&#x5b9e;&#x8d28;&#x4e0a;&#x670d;&#x52a1;&#x7684;&#x72ec;&#x7acb;&#x987e;&#x95ee;&#xff0c;&#x4e14;&#x5176;&#x6839;&#x636e;&#x7ecf;&#x4fee;&#x8ba2;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">1933 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;&#x7f8e;&#x56fd;&#x8bc1;&#x5238;&#x6cd5;&#x4e0b;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">Form S-8 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x8bf4;&#x660e;&#x4e2d;&#x7684;&#x9879;&#x76ee;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">A.1. (a)(1) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7b26;&#x5408;&#x987e;&#x95ee;&#x7684;&#x8d44;&#x683c;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(n)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Corporate Change</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A consolidation, merger, dissolution or liquidation of the Company, or a sale or distribution of assets or stock (other than in the ordinary course of business) of the Company; provided that, unless the Committee determines otherwise, a Corporate Change shall only be considered to have occurred with respect to Participants whose business unit is affected by the Corporate Change.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(n)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x53f8;&#x53d8;&#x66f4;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x516c;&#x53f8;&#x7684;&#x5408;&#x5e76;&#x3001;&#x517c;&#x5e76;&#x3001;&#x89e3;&#x6563;&#x6216;&#x6e05;&#x7b97;&#xff0c;&#x6216;&#x516c;&#x53f8;&#x8d44;&#x4ea7;&#x6216;&#x80a1;&#x7968;&#x7684;&#x51fa;&#x552e;&#x6216;&#x5206;&#x914d;&#xff08;&#x9664;&#x6b63;&#x5e38;&#x4e1a;&#x52a1;&#x8fc7;&#x7a0b;&#x5916;&#xff09;&#xff1b;&#x4f46;&#x9664;&#x975e;&#x59d4;&#x5458;&#x4f1a;&#x53e6;&#x6709;&#x51b3;&#x5b9a;&#xff0c;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x5e94;&#x4ec5;&#x88ab;&#x89c6;&#x4e3a;&#x53d1;&#x751f;&#x5728;&#x5176;&#x4e1a;&#x52a1;&#x5355;&#x4f4d;&#x53d7;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x5f71;&#x54cd;&#x7684;&#x53c2;&#x4fdd;&#x8005;&#x8eab;&#x4e0a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(o)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Date of Grant</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The date as of which an Award is made by the Committee.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(o) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6388;&#x4e88;&#x65e5;&#x671f;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x59d4;&#x5458;&#x4f1a;&#x4f5c;&#x51fa;&#x5956;&#x52b1;&#x7684;&#x65e5;&#x671f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(p)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Disability or Disabled</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. As to an Incentive Stock Option, a Disability within the meaning of Code Section&#x00a0;22(e)(3). As to all other Awards, the Committee shall determine whether a Disability exists and such determination shall be conclusive.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(p)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6b8b;&#x75be;&#x6216;&#x6b8b;&#x5e9f;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x5bf9;&#x4e8e;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x6765;&#x8bf4;&#xff0c;&#x662f;&#x6307;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">22(e)(3)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x610f;&#x4e49;&#x4e0a;&#x7684;&#x6b8b;&#x75be;&#x3002;&#x5bf9;&#x4e8e;&#x6240;&#x6709;&#x5176;&#x4ed6;&#x5956;&#x52b1;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x51b3;&#x5b9a;&#x662f;&#x5426;&#x5b58;&#x5728;&#x6b8b;&#x75be;&#xff0c;&#x8be5;&#x51b3;&#x5b9a;&#x5e94;&#x662f;&#x7ed3;&#x8bba;&#x6027;&#x7684;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(q)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Fair Market Value</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(q) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i) If Company Stock is traded on a national securities exchange, the average of the highest and lowest registered sales prices of Company Stock (or the closing bid, if no sales were reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5728;&#x56fd;&#x5bb6;&#x8bc1;&#x5238;&#x4ea4;&#x6613;&#x6240;&#x4ea4;&#x6613;&#xff0c;&#x5219;&#x6307;&#x4f9d;&#x636e;&#x534e;&#x5c14;&#x8857;&#x65e5;&#x62a5;&#x6216;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x53ef;&#x9760;&#x7684;&#x5176;&#x4ed6;&#x6765;&#x6e90;&#x62a5;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x544a;&#xff0c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5728;&#x8be5;&#x4ea4;&#x6613;&#x6240;&#x7684;&#x6700;&#x9ad8;&#x548c;&#x6700;&#x4f4e;&#x767b;&#x8bb0;&#x9500;&#x552e;&#x4ef7;&#x683c;&#x7684;&#x5e73;&#x5747;&#x503c;&#xff08;&#x6216;&#x82e5;&#x65e0;&#x9500;&#x552e;&#x65f6;&#xff0c;&#x5219;&#x4ee5;&#x6536;&#x76d8;&#x4e70;&#x4ef7;&#x4e3a;&#x51c6;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii) If Company Stock is traded in the over-the-counter market, the average between the closing bid and asked prices of Company Stock, as reported in The Wall Street Journal or such other source as the Committee deems reliable; or</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5728;&#x573a;&#x5916;&#x5e02;&#x573a;&#x4ea4;&#x6613;&#xff0c;&#x5219;&#x6307;&#x4f9d;&#x636e;&#x534e;&#x5c14;&#x8857;&#x65e5;&#x62a5;&#x6216;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x53ef;&#x9760;&#x7684;&#x5176;&#x4ed6;&#x6765;&#x6e90;&#x62a5;&#x544a;&#xff0c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6536;&#x76d8;&#x4e70;&#x4ef7;&#x548c;&#x5356;&#x4ef7;&#x4e4b;&#x95f4;&#x7684;&#x5e73;&#x5747;&#x503c;&#xff1b;&#x6216;</FONT></P>
		</DIV>

<FONT CLASS="Adobe" STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal">&nbsp;</FONT><!-- Field: Page; Sequence: 3; Value: 1 -->
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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) If shares of Company Stock are not publicly traded, the Fair Market Value shall be determined by the Committee using any reasonable method in good faith.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6ca1;&#x6709;&#x516c;&#x5f00;&#x4ea4;&#x6613;&#xff0c;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x5e94;&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x4f7f;&#x7528;&#x4efb;&#x4f55;&#x5408;&#x7406;&#x7684;&#x65b9;&#x6cd5;&#x57fa;&#x4e8e;&#x8bda;&#x4fe1;&#x786e;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">Fair Market Value shall be determined as of the applicable date specified in the Plan or, if there are no trades on such date, the value shall be determined as of the last preceding day on which Company Stock is traded.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x5e94;&#x5728;&#x8ba1;&#x5212;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x9002;&#x7528;&#x65e5;&#x671f;&#x786e;&#x5b9a;&#xff0c;&#x5982;&#x679c;&#x8be5;&#x65e5;&#x671f;&#x6ca1;&#x6709;&#x4ea4;&#x6613;&#xff0c;&#x5219;&#x5e94;&#x5728;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x4ea4;&#x6613;&#x7684;&#x524d;&#x4e00;&#x5929;&#x786e;&#x5b9a;&#x4ef7;&#x503c;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(r)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Incentive Stock Option</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. An Option intended to meet the requirements of, and qualify for favorable Federal income tax treatment under, Code Section&#x00a0;422.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(r)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x4e00;&#x79cd;&#x65e8;&#x5728;&#x6ee1;&#x8db3;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">422</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x89c4;&#x5b9a;&#x7684;&#x8981;&#x6c42;&#xff0c;&#x5e76;&#x6709;&#x8d44;&#x683c;&#x83b7;&#x5f97;&#x6709;&#x5229;&#x7684;&#x8054;&#x90a6;&#x6240;&#x5f97;&#x7a0e;&#x5f85;&#x9047;&#x7684;&#x671f;&#x6743;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(s)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Nonstatutory Stock Option</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. An Option that does not meet the requirements of Code Section&#x00a0;422, or that is otherwise not intended to be an Incentive Stock Option and is so designated.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(s)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x4e0d;&#x7b26;&#x5408;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">422</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x8981;&#x6c42;&#x7684;&#x671f;&#x6743;&#xff0c;&#x6216;&#x8005;&#x4e0d;&#x6253;&#x7b97;&#x6210;&#x4e3a;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x5e76;&#x88ab;&#x5982;&#x6b64;&#x6307;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(t)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Option</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A right to purchase Company Stock granted under the Plan, at a price determined in accordance with the Plan.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(t) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x671f;&#x6743;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x8d2d;&#x4e70;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x6743;&#x5229;&#xff0c;&#x5176;&#x4ef7;&#x683c;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x786e;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(u)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Participant</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Any individual who receives an Award under the Plan.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(u) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x53c2;&#x4e0e;&#x8005;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x83b7;&#x5f97;&#x5956;&#x52b1;&#x7684;&#x4efb;&#x4f55;&#x4e2a;&#x4eba;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(v)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Restricted Stock</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Company Stock awarded upon the terms and subject to the restrictions set forth in Section&#x00a0;7 below.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(v) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x4e0b;&#x6587;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">7</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x89c4;&#x5b9a;&#x7684;&#x6761;&#x6b3e;&#x548c;&#x9650;&#x5236;&#x800c;&#x6388;&#x4e88;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(w)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">10% Shareholder</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A person who owns, directly or indirectly, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate. Indirect ownership of stock shall be determined in accordance with Code Section&#x00a0;424(d).</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(w)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">10%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x7684;&#x80a1;&#x4e1c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x76f4;&#x63a5;&#x6216;&#x95f4;&#x63a5;&#x62e5;&#x6709;&#x7684;&#x80a1;&#x7968;&#x5360;&#x516c;&#x53f8;&#x6216;&#x5173;&#x8054;&#x516c;&#x53f8;&#x6240;&#x6709;&#x7c7b;&#x522b;&#x80a1;&#x7968;&#x603b;&#x6295;&#x7968;&#x6743;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4ee5;&#x4e0a;&#x7684;&#x4eba;&#x3002;&#x95f4;&#x63a5;&#x62e5;&#x6709;&#x7684;&#x80a1;&#x7968;&#x5e94;&#x6839;&#x636e;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">424(d)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x786e;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">3.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">General</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Awards of Options and Restricted Stock may be granted under the Plan. Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">3.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x4e00;&#x822c;&#x60c5;&#x51b5;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x53ef;&#x4ee5;&#x6388;&#x4e88;&#x671f;&#x6743;&#x548c;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x5956;&#x52b1;&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x671f;&#x6743;&#x53ef;&#x4ee5;&#x662f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x6216;&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">4.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Stock</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">4.&#x00a0; </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x80a1;&#x7968;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) Subject to Section&#x00a0;12 of the Plan, there shall be reserved for issuance under the Plan a total of </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5,000,000 </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> unissued shares of Company Stock.</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#xff0c;&#x5e94;&#x4fdd;&#x7559;&#x603b;&#x5171;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5,000,000</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x80a1;&#x672a;&#x53d1;&#x884c;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x4f9b;&#x672c;&#x8ba1;&#x5212;&#x5206;&#x914d;&#x3002;</FONT></P>
		</DIV>

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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) On the first day of each calendar year during the term of the Plan, commencing on January 1, 2023 and continuing until (and including) January 1, 2032, the number of shares of Company Stock available under the Plan shall automatically increase by a number equal to the lesser of (i) </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">% of the total number of shares of Company Stock issued and outstanding on December 31 of the calendar year immediately preceding the date of such increase and (ii) a number of shares of Company Stock determined by the Committee.</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x672c;&#x8ba1;&#x5212;&#x671f;&#x95f4;&#x5185;&#x6bcf;&#x4e2a;&#x65e5;&#x5386;&#x5e74;&#x7684;&#x7b2c;&#x4e00;&#x5929;&#xff0c;&#x4ece;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 2023 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 1 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6708; </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">1 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x65e5;&#x5f00;&#x59cb;&#x5e76;&#x6301;&#x7eed;&#x5230;&#xff08;&#x5305;&#x62ec;&#xff09;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">2032 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 1 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6708;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 1 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x65e5;&#xff0c;&#x672c;&#x8ba1;&#x5212;&#x4e0b;&#x53ef;&#x5206;&#x914d;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6570;&#x91cf;&#x5c06;&#x81ea;&#x52a8;&#x589e;&#x52a0;&#x4e0b;&#x5217;&#x6570;&#x91cf;&#x4e2d;&#x8f83;&#x5c11;&#x7684;&#x6570;&#x91cf;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> (i)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x7d27;&#x90bb;&#x589e;&#x52a0;&#x6570;&#x91cf;&#x65e5;&#x671f;&#x7684;&#x524d;&#x4e00;&#x65e5;&#x5386;&#x5e74; </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6708; </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">31 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x65e5;&#x5df2;&#x53d1;&#x884c;&#x548c;&#x6d41;&#x901a;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x603b;&#x6570;&#x7684;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;"> </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">% </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x548c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> (ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x51b3;&#x5b9a;&#x7684;&#x589e;&#x52a0;&#x6570;&#x91cf;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) Shares allocable to Options granted under the Plan that expire or otherwise terminate unexercised and shares that are forfeited pursuant to restrictions on Restricted Stock awarded under the Plan may again be subjected to an Award under this Plan. Shares surrendered by a Participant or retained by the Company (i)&#x00a0;in connection with the exercise of an Option or (ii)&#x00a0;in payment of Applicable Withholding Taxes shall again become available for issuance under the Plan (but such Shares shall not again become available for issuance as Incentive Stock Options).</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x671f;&#x6743;&#x5230;&#x671f;&#x6216;&#x4ee5;&#x5176;&#x4ed6;&#x65b9;&#x5f0f;&#x7ec8;&#x6b62;&#x672a;&#x884c;&#x4f7f;&#x7684;&#x80a1;&#x7968;&#xff0c;&#x4ee5;&#x53ca;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x9650;&#x5236;&#x800c;&#x88ab;&#x6ca1;&#x6536;&#x7684;&#x80a1;&#x7968;&#xff0c;&#x53ef;&#x4ee5;&#x518d;&#x6b21;&#x6210;&#x4e3a;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x5956;&#x52b1;&#x5bf9;&#x8c61;&#x3002;&#x53c2;&#x4e0e;&#x8005;&#x4ea4;&#x51fa;&#x7684;&#x6216;&#x516c;&#x53f8;&#x4fdd;&#x7559;&#x7684;&#x80a1;&#x4efd;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> (i) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x884c;&#x4f7f;&#x671f;&#x6743;&#x6709;&#x5173;&#x7684;&#x6216;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> (ii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7528;&#x4e8e;&#x652f;&#x4ed8;&#x9002;&#x7528;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x6b3e;&#xff0c;&#x5c06;&#x53ef;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x518d;&#x6b21;&#x53d1;&#x884c;&#xff08;&#x4f46;&#x8be5;&#x7b49;&#x80a1;&#x4efd;&#x5c06;&#x4e0d;&#x53ef;&#x518d;&#x7528;&#x4e8e;&#x4f5c;&#x4e3a;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x53d1;&#x884c;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) No more than </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5,000,000</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> shares of Company Stock (subject to adjustment pursuant to Section&#x00a0;12) may be issued under the Plan upon the exercise of Incentive Stock Options.</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x884c;&#x4f7f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x65f6;&#xff0c;&#x4e0d;&#x5f97;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x53d1;&#x884c;&#x8d85;&#x8fc7;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5,000,000</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x80a1;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#xff08;&#x6839;&#x636e;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 12 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x8fdb;&#x884c;&#x8c03;&#x6574;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Eligibility</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5. </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x8d44;&#x683c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) Any employee of, non-employee director of, or Consultant to the Company or its Affiliates is eligible to </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">become a Participant. The Committee shall have the power and complete discretion, as provided in Section&#x00a0;14, to select eligible Participants and to determine for each Participant the terms, conditions and nature of the Award and the number of shares to be allocated as part of the Award; provided, however, that any award made to a member of the Committee must be approved by the Board. The Committee is expressly authorized to make an Award to a Participant conditioned on the surrender for cancellation of an existing Award.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x672c;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x7684;&#x4efb;&#x4f55;&#x96c7;&#x5458;&#x3001;&#x975e;&#x96c7;&#x5458;&#x8463;&#x4e8b;&#x6216;&#x987e;&#x95ee;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5747;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6709;&#x8d44;&#x683c;&#x6210;&#x4e3a;&#x53c2;&#x4e0e;&#x8005;&#x3002;&#x6839;&#x636e;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">14</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x7684;&#x89c4;&#x5b9a;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x6743;&#x529b;&#x548c;&#x5b8c;&#x5168;&#x7684;&#x81ea;&#x7531;&#x88c1;&#x91cf;&#x6743;&#x6765;&#x9009;&#x62e9;&#x5408;&#x683c;&#x7684;&#x53c2;&#x4e0e;&#x8005;&#xff0c;&#x5e76;&#x4e3a;&#x6bcf;&#x4e2a;&#x53c2;&#x4e0e;&#x8005;&#x51b3;&#x5b9a;&#x5956;&#x52b1;&#x7684;&#x6761;&#x6b3e;&#x3001;&#x6761;&#x4ef6;&#x548c;&#x6027;&#x8d28;&#x4ee5;&#x53ca;&#x4f5c;&#x4e3a;&#x5956;&#x52b1;&#x7684;&#x4e00;&#x90e8;&#x5206;&#x5206;&#x914d;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#xff1b;&#x4f46;&#x662f;&#xff0c;&#x5411;&#x59d4;&#x5458;&#x4f1a;&#x6210;&#x5458;&#x4f5c;&#x51fa;&#x7684;&#x4efb;&#x4f55;&#x5956;&#x52b1;&#x5fc5;&#x987b;&#x7531;&#x8463;&#x4e8b;&#x4f1a;&#x6279;&#x51c6;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x88ab;&#x660e;&#x786e;&#x6388;&#x6743;&#x4ee5;&#x4ea4;&#x51fa;&#x73b0;&#x6709;&#x5956;&#x52b1;&#x4e3a;&#x6761;&#x4ef6;&#x5411;&#x53c2;&#x4e0e;&#x8005;&#x4f5c;&#x51fa;&#x5956;&#x52b1;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The grant of an Award shall not obligate the Company to pay an employee any particular amount of remuneration, to continue the employment of the employee after the grant or to make further grants to the employee at any time thereafter.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6388;&#x4e88;&#x5956;&#x52b1;&#x5e76;&#x4e0d;&#x610f;&#x5473;&#x7740;&#x516c;&#x53f8;&#x6709;&#x4e49;&#x52a1;&#x5411;&#x96c7;&#x5458;&#x652f;&#x4ed8;&#x4efb;&#x4f55;&#x7279;&#x5b9a;&#x6570;&#x989d;&#x7684;&#x62a5;&#x916c;&#xff0c;&#x5728;&#x6388;&#x4e88;&#x540e;&#x7ee7;&#x7eed;&#x96c7;&#x7528;&#x96c7;&#x5458;&#x6216;&#x5728;&#x6b64;&#x540e;&#x7684;&#x4efb;&#x4f55;&#x65f6;&#x95f4;&#x5411;&#x96c7;&#x5458;&#x8fdb;&#x4e00;&#x6b65;&#x6388;&#x4e88;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) Non-employee directors and Consultants shall not be eligible to receive the Award of an Incentive Stock Option.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x975e;&#x96c7;&#x5458;&#x8463;&#x4e8b;&#x548c;&#x987e;&#x95ee;&#x6ca1;&#x6709;&#x8d44;&#x683c;&#x83b7;&#x5f97;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x5956;&#x52b1;&#x3002;</FONT></P>
		</DIV>

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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">6.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Stock Options</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">6.&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x80a1;&#x7968;&#x671f;&#x6743;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) Whenever the Committee deems it appropriate to grant Options, notice shall be given to the Participant stating the number of shares for which Options are granted, the exercise price per share, whether the options are Incentive Stock Options or Nonstatutory Stock Options, and the conditions to which the grant and exercise of the Options are subject. This notice, when duly accepted in writing by the Participant, shall become a stock option agreement between the Company and the Participant.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5f53;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5408;&#x6388;&#x4e88;&#x671f;&#x6743;&#x65f6;&#xff0c;&#x5e94;&#x5411;&#x53c2;&#x4e0e;&#x8005;&#x53d1;&#x51fa;&#x901a;&#x77e5;&#xff0c;&#x8bf4;&#x660e;&#x6388;&#x4e88;&#x671f;&#x6743;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#x3001;&#x6bcf;&#x80a1;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x3001;&#x671f;&#x6743;&#x662f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x8fd8;&#x662f;&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;&#xff0c;&#x4ee5;&#x53ca;&#x6388;&#x4e88;&#x548c;&#x884c;&#x4f7f;&#x671f;&#x6743;&#x6240;&#x9700;&#x7684;&#x6761;&#x4ef6;&#x3002;&#x8be5;&#x901a;&#x77e5;&#x4e00;&#x65e6;&#x88ab;&#x53c2;&#x4e0e;&#x8005;&#x6b63;&#x5f0f;&#x4e66;&#x9762;&#x63a5;&#x53d7;&#xff0c;&#x5c06;&#x6210;&#x4e3a;&#x516c;&#x53f8;&#x548c;&#x53c2;&#x4e0e;&#x8005;&#x4e4b;&#x95f4;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The Committee shall establish the exercise price of Options. The exercise price of an Incentive Stock Option shall be not less than 100% of the Fair Market Value of such shares on the Date of Grant, provided that if the Participant is a 10% Shareholder, the exercise price of an Incentive Stock Option shall be not less than 110% of the Fair Market Value of such shares on the Date of Grant.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x786e;&#x5b9a;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x3002;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x5e94;&#x4e0d;&#x4f4e;&#x4e8e;&#x6388;&#x4e88;&#x65e5;&#x671f;&#x8be5;&#x80a1;&#x4efd;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">100%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff0c;&#x4f46;&#x5982;&#x679c;&#x53c2;&#x4e0e;&#x8005;&#x662f;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x80a1;&#x4e1c;&#xff0c;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x5e94;&#x4e0d;&#x4f4e;&#x4e8e;&#x6388;&#x4e88;&#x65e5;&#x671f;&#x8be5;&#x80a1;&#x4efd;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">110%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) Options may be exercised in whole or in part at such times as may be specified by the Committee in the Participant&#x2019;s stock option agreement. The Committee may impose such vesting conditions and other requirements as the Committee deems appropriate, and the Committee may include such provisions regarding a Change of Control or Corporate Change as the Committee deems appropriate.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x671f;&#x6743;&#x53ef;&#x5728;&#x59d4;&#x5458;&#x4f1a;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x65f6;&#x95f4;&#x5168;&#x90e8;&#x6216;&#x90e8;&#x5206;&#x884c;&#x4f7f;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x89c4;&#x5b9a;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x5f52;&#x5c5e;&#x6761;&#x4ef6;&#x548c;&#x5176;&#x4ed6;&#x8981;&#x6c42;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x8fd8;&#x53ef;&#x4ee5;&#x5305;&#x62ec;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x5173;&#x4e8e;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x7684;&#x89c4;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) The Committee shall establish the term of each Option in the Participant&#x2019;s stock option agreement. The term of an Incentive Stock Option shall not be longer than ten years from the Date of Grant, except that an Incentive Stock Option granted to a 10% Shareholder may not have a term in excess of five years. No option may be exercised after the expiration of its term or, except as set forth in the Participant&#x2019;s stock option agreement, after the termination of the Participant&#x2019;s employment. The Committee shall set forth in the Participant&#x2019;s stock option agreement when, and under what circumstances, an Option may be exercised after termination of the Participant&#x2019;s employment or period of service; provided that no Incentive Stock Option may be exercised after (i)&#x00a0;three months from the Participant&#x2019;s termination of employment with the Company for reasons other than Disability or death, or (ii)&#x00a0;one year from the Participant&#x2019;s termination of employment on account of Disability or death. The Committee may, in its sole discretion, amend a previously granted Incentive Stock Option to provide for more liberal exercise provisions, provided however that if the Incentive Stock Option as amended no longer meets the requirements of Code Section&#x00a0;422, and, as a result the Option no longer qualifies for favorable federal income tax treatment under Code Section&#x00a0;422, the amendment shall not become effective without the written consent of the Participant.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#x6bcf;&#x4e2a;&#x671f;&#x6743;&#x7684;&#x671f;&#x9650;&#x3002;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x671f;&#x9650;&#x4ece;&#x6388;&#x4e88;&#x65e5;&#x671f;&#x5f00;&#x59cb;&#x4e0d;&#x5f97;&#x8d85;&#x8fc7;&#x5341;&#x5e74;&#xff0c;&#x4f46;&#x6388;&#x4e88;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x80a1;&#x4e1c;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x671f;&#x9650;&#x4e0d;&#x5f97;&#x8d85;&#x8fc7;&#x4e94;&#x5e74;&#x3002;&#x4efb;&#x4f55;&#x671f;&#x6743;&#x90fd;&#x4e0d;&#x5f97;&#x5728;&#x5176;&#x671f;&#x9650;&#x5c4a;&#x6ee1;&#x540e;&#x884c;&#x4f7f;&#xff0c;&#x6216;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x5c31;&#x4e1a;&#x7ec8;&#x6b62;&#x540e;&#x884c;&#x4f7f;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#xff0c;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x5c31;&#x4e1a;&#x6216;&#x670d;&#x52a1;&#x671f;&#x7ec8;&#x6b62;&#x540e;&#xff0c;&#x4f55;&#x65f6;&#x4ee5;&#x53ca;&#x5728;&#x4f55;&#x79cd;&#x60c5;&#x51b5;&#x4e0b;&#x53ef;&#x4ee5;&#x884c;&#x4f7f;&#x671f;&#x6743;&#xff1b;&#x4f46;&#x5728;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x56e0;&#x6b8b;&#x75be;&#x6216;&#x6b7b;&#x4ea1;&#x4ee5;&#x5916;&#x7684;&#x539f;&#x56e0;&#x4e0e;&#x516c;&#x53f8;&#x7ec8;&#x6b62;&#x5c31;&#x4e1a;&#x4e09;&#x4e2a;&#x6708;&#x540e;&#xff0c;&#x6216;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x56e0;&#x6b8b;&#x75be;&#x6216;&#x6b7b;&#x4ea1;&#x800c;&#x7ec8;&#x6b62;&#x5c31;&#x4e1a;&#x4e00;&#x5e74;&#x540e;&#xff0c;&#x4e0d;&#x5f97;&#x884c;&#x4f7f;&#x5956;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x81ea;&#x884c;&#x51b3;&#x5b9a;&#x4fee;&#x6539;&#x4ee5;&#x524d;&#x6388;&#x4e88;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#xff0c;&#x4ee5;&#x89c4;&#x5b9a;&#x66f4;&#x5bbd;&#x677e;&#x7684;&#x884c;&#x4f7f;&#x6761;&#x6b3e;&#xff0c;&#x4f46;&#x662f;&#xff0c;&#x5982;&#x679c;&#x4fee;&#x6539;&#x540e;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x4e0d;&#x518d;&#x7b26;&#x5408;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">422</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x7684;&#x8981;&#x6c42;&#xff0c;&#x56e0;&#x6b64;&#xff0c;&#x8be5;&#x671f;&#x6743;&#x4e0d;&#x518d;&#x7b26;&#x5408;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">422</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x89c4;&#x5b9a;&#x7684;&#x6709;&#x5229;&#x7684;&#x8054;&#x90a6;&#x6240;&#x5f97;&#x7a0e;&#x5f85;&#x9047;&#xff0c;&#x5219;&#x672a;&#x7ecf;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x4e66;&#x9762;&#x540c;&#x610f;&#xff0c;&#x8be5;&#x4fee;&#x6539;&#x4e0d;&#x5f97;&#x751f;&#x6548;&#x3002;</FONT></P>
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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e) An Incentive Stock Option, by its terms, shall be exercisable in any calendar year only to the extent that the aggregate Fair Market Value (determined at the Date of Grant) of Company Stock with respect to which Incentive Stock Options are exercisable by the Participant for the first time during the calendar year does not exceed $100,000 (the &#x201c;Limitation Amount&#x201d;). Incentive Stock Options granted under the Plan and all other plans of the Company and any parent or subsidiary of the Company shall be aggregated for purposes of determining whether the Limitation Amount has been exceeded. The Committee may impose such conditions as it deems appropriate on an Incentive Stock Option to ensure that the foregoing requirement is met. If Incentive Stock Options that first become exercisable in a calendar year exceed the Limitation Amount, the excess Options will be treated as Nonstatutory Stock Options to the extent permitted by law.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6839;&#x636e;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x6761;&#x6b3e;&#xff0c;&#x5728;&#x4efb;&#x4f55;&#x4e00;&#x4e2a;&#x65e5;&#x5386;&#x5e74;&#x4e2d;&#xff0c;&#x53ea;&#x6709;&#x5f53;&#x53c2;&#x4e0e;&#x8005;&#x5728;&#x8be5;&#x65e5;&#x5386;&#x5e74;&#x4e2d;&#x9996;&#x6b21;&#x884c;&#x4f7f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x6240;&#x6d89;&#x53ca;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#xff08;&#x5728;&#x6388;&#x4e88;&#x65e5;&#x671f;&#x786e;&#x5b9a;&#xff09;&#x603b;&#x989d;&#x4e0d;&#x8d85;&#x8fc7;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">100,000</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7f8e;&#x5143;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x9650;&#x5236;&#x91d1;&#x989d;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x65f6;&#xff0c;&#x624d;&#x53ef;&#x4ee5;&#x884c;&#x4f7f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x672c;&#x516c;&#x53f8;&#x53ca;&#x672c;&#x516c;&#x53f8;&#x4efb;&#x4f55;&#x6bcd;&#x516c;&#x53f8;&#x6216;&#x5b50;&#x516c;&#x53f8;&#x7684;&#x6240;&#x6709;&#x5176;&#x4ed6;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x5e94;&#x5408;&#x5e76;&#x8ba1;&#x7b97;&#xff0c;&#x4ee5;&#x786e;&#x5b9a;&#x662f;&#x5426;&#x5df2;&#x8d85;&#x8fc7;&#x9650;&#x5236;&#x91d1;&#x989d;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5bf9;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x65bd;&#x52a0;&#x5176;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x6761;&#x4ef6;&#xff0c;&#x4ee5;&#x786e;&#x4fdd;&#x6ee1;&#x8db3;&#x4e0a;&#x8ff0;&#x8981;&#x6c42;&#x3002;&#x5982;&#x679c;&#x5728;&#x4e00;&#x4e2a;&#x65e5;&#x5386;&#x5e74;&#x5185;&#x9996;&#x6b21;&#x53ef;&#x884c;&#x4f7f;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x8d85;&#x8fc7;&#x4e86;&#x9650;&#x5236;&#x91d1;&#x989d;&#xff0c;&#x5728;&#x6cd5;&#x5f8b;&#x5141;&#x8bb8;&#x7684;&#x8303;&#x56f4;&#x5185;&#xff0c;&#x8d85;&#x51fa;&#x7684;&#x671f;&#x6743;&#x5c06;&#x88ab;&#x89c6;&#x4e3a;&#x975e;&#x6cd5;&#x5b9a;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(f) If a Participant dies and if the Participant&#x2019;s stock option agreement provides that part or all of the Option may be exercised after the Participant&#x2019;s death, then such portion may be exercised by the personal representative of the Participant&#x2019;s estate during the time period specified in the stock option agreement.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(f)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x53c2;&#x4e0e;&#x8005;&#x6b7b;&#x4ea1;&#xff0c;&#x4e14;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x89c4;&#x5b9a;&#x90e8;&#x5206;&#x6216;&#x5168;&#x90e8;&#x671f;&#x6743;&#x53ef;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x6b7b;&#x4ea1;&#x540e;&#x884c;&#x4f7f;&#xff0c;&#x5219;&#x8be5;&#x90e8;&#x5206;&#x671f;&#x6743;&#x53ef;&#x7531;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x9057;&#x4ea7;&#x4ee3;&#x7406;&#x4eba;&#x5728;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x89c4;&#x5b9a;&#x7684;&#x65f6;&#x95f4;&#x6bb5;&#x5185;&#x4e88;&#x4ee5;&#x884c;&#x4f7f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(g) If a Participant&#x2019;s employment or services is terminated by the Company for Cause, the Participant&#x2019;s Options shall terminate as of the date of the misconduct.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(g) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x5c31;&#x4e1a;&#x6216;&#x670d;&#x52a1;&#x56e0;&#x6545;&#x88ab;&#x516c;&#x53f8;&#x7ec8;&#x6b62;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x671f;&#x6743;&#x5e94;&#x5728;&#x4e0d;&#x5f53;&#x884c;&#x4e3a;&#x53d1;&#x751f;&#x4e4b;&#x65e5;&#x7ec8;&#x6b62;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">7.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Restricted Stock Awards</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">7. </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5956;&#x52b1;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) Whenever the Committee deems it appropriate to grant a Restricted Stock Award, notice shall be given to the Participant stating the number of shares of Restricted Stock for which the Award is granted and the terms and conditions to which the Award is subject. This notice, when accepted in writing by the Participant, shall become an Award agreement between the Company and the Participant. Certificates representing the shares shall be issued in the name of the Participant, subject to the restrictions imposed by the Plan and the Committee. A Restricted Stock Award may be made by the Committee in its discretion without cash consideration.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53ea;&#x8981;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x6388;&#x4e88;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5956;&#x52b1;&#x662f;&#x5408;&#x9002;&#x7684;&#xff0c;&#x5c31;&#x5e94;&#x5411;&#x53c2;&#x4e0e;&#x8005;&#x53d1;&#x51fa;&#x901a;&#x77e5;&#xff0c;&#x8bf4;&#x660e;&#x6388;&#x4e88;&#x5956;&#x52b1;&#x7684;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x6570;&#x91cf;&#x4ee5;&#x53ca;&#x5956;&#x52b1;&#x7684;&#x6761;&#x6b3e;&#x548c;&#x6761;&#x4ef6;&#x3002;&#x8be5;&#x901a;&#x77e5;&#x5728;&#x88ab;&#x53c2;&#x4e0e;&#x8005;&#x4e66;&#x9762;&#x63a5;&#x53d7;&#x540e;&#xff0c;&#x5e94;&#x6210;&#x4e3a;&#x516c;&#x53f8;&#x4e0e;&#x53c2;&#x4e0e;&#x8005;&#x4e4b;&#x95f4;&#x7684;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x3002;&#x4ee3;&#x8868;&#x80a1;&#x7968;&#x7684;&#x8bc1;&#x4e66;&#x5e94;&#x4ee5;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x540d;&#x4e49;&#x53d1;&#x884c;&#xff0c;&#x4f46;&#x987b;&#x9075;&#x5b88;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x9650;&#x5236;&#x89c4;&#x5b9a;&#x3002;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5956;&#x52b1;&#x53ef;&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x81ea;&#x884c;&#x51b3;&#x5b9a;&#xff0c;&#x4e0d;&#x9700;&#x8981;&#x73b0;&#x91d1;&#x8865;&#x507f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The Committee may place such restrictions on the transferability and vesting of Restricted Stock as the Committee deems appropriate, including restrictions relating to continued employment and financial performance goals. Without limiting the foregoing, the Committee may provide performance or Change of Control or Corporate Change acceleration parameters under which all, or a portion, of the Restricted Stock will vest on the Company&#x2019;s achievement of established performance objectives. Restricted Stock may not be sold, assigned, transferred, disposed of, pledged, hypothecated or otherwise encumbered until the restrictions on such shares shall have lapsed or shall have been removed pursuant to subsection (c)&#x00a0;below.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5bf9;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x53ef;&#x8f6c;&#x8ba9;&#x6027;&#x548c;&#x5f52;&#x5c5e;&#x505a;&#x51fa;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x9650;&#x5236;&#xff0c;&#x5305;&#x62ec;&#x4e0e;&#x6301;&#x7eed;&#x96c7;&#x4f63;&#x548c;&#x8d22;&#x52a1;&#x4e1a;&#x7ee9;&#x76ee;&#x6807;&#x6709;&#x5173;&#x7684;&#x9650;&#x5236;&#x3002;&#x5728;&#x4e0d;&#x9650;&#x5236;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x63d0;&#x4f9b;&#x4e1a;&#x7ee9;&#x6216;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x52a0;&#x901f;&#x53c2;&#x6570;&#xff0c;&#x6839;&#x636e;&#x8fd9;&#x4e9b;&#x53c2;&#x6570;&#xff0c;&#x6240;&#x6709;&#x6216;&#x90e8;&#x5206;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5c06;&#x5728;&#x516c;&#x53f8;&#x5b9e;&#x73b0;&#x65e2;&#x5b9a;&#x4e1a;&#x7ee9;&#x76ee;&#x6807;&#x540e;&#x5f52;&#x5c5e;&#x3002;&#x5728;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x9650;&#x5236;&#x5931;&#x6548;&#x6216;&#x6839;&#x636e;&#x4e0b;&#x6587;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6b3e;&#x53d6;&#x6d88;&#x9650;&#x5236;&#x4e4b;&#x524d;&#xff0c;&#x4e0d;&#x5f97;&#x51fa;&#x552e;&#x3001;&#x8f6c;&#x8ba9;&#x3001;&#x8f6c;&#x79fb;&#x3001;&#x5904;&#x7f6e;&#x3001;&#x8d28;&#x62bc;&#x3001;&#x62b5;&#x62bc;&#x6216;&#x4ee5;&#x5176;&#x4ed6;&#x65b9;&#x5f0f;&#x8bbe;&#x7f6e;&#x6743;&#x5229;&#x8d1f;&#x62c5;&#x3002;</FONT></P>
		</DIV>

<FONT CLASS="Adobe" STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal">&nbsp;</FONT><!-- Field: Page; Sequence: 7; Value: 1 -->
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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) The Committee may provide in a Restricted Stock Award, or subsequently, that the restrictions will lapse if a Change of Control or Corporate Change occurs. The Committee may at any time, in its sole discretion, accelerate the time at which any or all restrictions will lapse or may remove restrictions on Restricted Stock as it deems appropriate.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5728;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5956;&#x52b1;&#x4e2d;&#x6216;&#x968f;&#x540e;&#x89c4;&#x5b9a;&#xff0c;&#x5982;&#x679c;&#x53d1;&#x751f;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#xff0c;&#x9650;&#x5236;&#x5c06;&#x5931;&#x6548;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5728;&#x4efb;&#x4f55;&#x65f6;&#x5019;&#x81ea;&#x884c;&#x51b3;&#x5b9a;&#x52a0;&#x5feb;&#x4efb;&#x4f55;&#x6216;&#x6240;&#x6709;&#x9650;&#x5236;&#x7684;&#x5931;&#x6548;&#x65f6;&#x95f4;&#xff0c;&#x6216;&#x5728;&#x5176;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x65f6;&#x5019;&#x53d6;&#x6d88;&#x5bf9;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x9650;&#x5236;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) A Participant shall hold shares of Restricted Stock subject to the restrictions set forth in the Award agreement and in the Plan. In other respects, the Participant shall have all the rights of a shareholder with respect to the shares of Restricted Stock, including, but not limited to, the right to vote such shares and the right to receive all cash dividends and other distributions paid thereon. Certificates representing Restricted Stock shall bear a legend referring to the restrictions set forth in the Plan and the Participant&#x2019;s Award agreement. If stock dividends are declared on Restricted Stock, such stock dividends or other distributions shall be subject to the same restrictions as the underlying shares of Restricted Stock</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6301;&#x6709;&#x7684;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5e94;&#x53d7;&#x5230;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x548c;&#x8ba1;&#x5212;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x9650;&#x5236;&#x3002;&#x5728;&#x5176;&#x4ed6;&#x65b9;&#x9762;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x5bf9;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x4eab;&#x6709;&#x80a1;&#x4e1c;&#x7684;&#x6240;&#x6709;&#x6743;&#x5229;&#xff0c;&#x5305;&#x62ec;&#x4f46;&#x4e0d;&#x9650;&#x4e8e;&#x6295;&#x7968;&#x6743;&#x548c;&#x6536;&#x53d6;&#x6240;&#x6709;&#x73b0;&#x91d1;&#x80a1;&#x606f;&#x548c;&#x5176;&#x4ed6;&#x5206;&#x914d;&#x6b3e;&#x7684;&#x6743;&#x5229;&#x3002;&#x4ee3;&#x8868;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x8bc1;&#x4e66;&#x5e94;&#x5e26;&#x6709;&#x4e00;&#x4e2a;&#x8bf4;&#x660e;&#xff0c;&#x63d0;&#x53ca;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x53c2;&#x4e0e;&#x8005;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x9650;&#x5236;&#x3002;&#x5982;&#x679c;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x88ab;&#x5ba3;&#x5e03;&#x6d3e;&#x53d1;&#x80a1;&#x7968;&#x7ea2;&#x5229;&#xff0c;&#x8fd9;&#x79cd;&#x80a1;&#x7968;&#x7ea2;&#x5229;&#x6216;&#x5176;&#x4ed6;&#x5206;&#x914d;&#x5e94;&#x53d7;&#x5230;&#x4e0e;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x76f8;&#x5173;&#x80a1;&#x4efd;&#x76f8;&#x540c;&#x7684;&#x9650;&#x5236;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">8.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Method of Exercise of Options</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Options may be exercised by giving written notice of the exercise to the Company, stating the number of shares the Participant has elected to purchase under the Option. Such notice shall be effective only if accompanied by the exercise price in full in cash; provided that, if the terms of an Option so permit, the Participant may (i)&#x00a0;deliver Company Stock that the Participant has owned for at least six months (valued at Fair Market Value on the date of exercise), or (ii)&#x00a0;exercise any applicable net exercise provision contained therein. Unless otherwise specifically provided in the Option, any payment of the exercise price paid by delivery of Company Stock acquired directly or indirectly from the Company shall be paid only with shares of Company Stock that have been held by the Participant for more than six months (or such longer or shorter period of time required to avoid a charge to earnings for financial accounting purposes).</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">8.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x884c;&#x4f7f;&#x671f;&#x6743;&#x7684;&#x65b9;&#x6cd5;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x53ef;&#x4ee5;&#x901a;&#x8fc7;&#x5411;&#x516c;&#x53f8;&#x53d1;&#x51fa;&#x4e66;&#x9762;&#x884c;&#x4f7f;&#x901a;&#x77e5;&#x6765;&#x884c;&#x4f7f;&#x671f;&#x6743;&#xff0c;&#x5e76;&#x8bf4;&#x660e;&#x53c2;&#x4e0e;&#x8005;&#x9009;&#x62e9;&#x6839;&#x636e;&#x671f;&#x6743;&#x8d2d;&#x4e70;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#x3002;&#x8be5;&#x901a;&#x77e5;&#x53ea;&#x6709;&#x5728;&#x9644;&#x6709;&#x5168;&#x989d;&#x73b0;&#x91d1;&#x884c;&#x4f7f;&#x4ef7;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#x624d;&#x6709;&#x6548;&#xff1b;&#x4f46;&#x662f;&#xff0c;&#x5982;&#x679c;&#x671f;&#x6743;&#x7684;&#x6761;&#x6b3e;&#x5141;&#x8bb8;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x53ef;&#x4ee5;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4ea4;&#x4ed8;&#x53c2;&#x4e0e;&#x8005;&#x5df2;&#x7ecf;&#x62e5;&#x6709;&#x81f3;&#x5c11;&#x516d;&#x4e2a;&#x6708;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#xff08;&#x6309;&#x884c;&#x4f7f;&#x65e5;&#x7684;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x4f30;&#x503c;&#xff09;&#xff0c;&#x6216;&#x8005;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x884c;&#x4f7f;&#x5176;&#x4e2d;&#x5305;&#x542b;&#x7684;&#x4efb;&#x4f55;&#x9002;&#x7528;&#x7684;&#x51c0;&#x884c;&#x4f7f;&#x6761;&#x6b3e;&#x3002;&#x9664;&#x975e;&#x671f;&#x6743;&#x4e2d;&#x53e6;&#x6709;&#x7279;&#x522b;&#x89c4;&#x5b9a;&#xff0c;&#x4efb;&#x4f55;&#x901a;&#x8fc7;&#x4ea4;&#x4ed8;&#x76f4;&#x63a5;&#x6216;&#x95f4;&#x63a5;&#x4ece;&#x516c;&#x53f8;&#x83b7;&#x5f97;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6765;&#x652f;&#x4ed8;&#x7684;&#x884c;&#x6743;&#x4ef7;&#x6b3e;&#xff0c;&#x53ea;&#x80fd;&#x7528;&#x53c2;&#x4e0e;&#x8005;&#x5df2;&#x6301;&#x6709;&#x516d;&#x4e2a;&#x6708;&#x4ee5;&#x4e0a;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6765;&#x652f;&#x4ed8;&#xff08;&#x6216;&#x4e3a;&#x907f;&#x514d;&#x5728;&#x8d22;&#x52a1;&#x4f1a;&#x8ba1;&#x4e2d;&#x8ba1;&#x5165;&#x6536;&#x76ca;&#x800c;&#x9700;&#x8981;&#x7684;&#x66f4;&#x957f;&#x6216;&#x66f4;&#x77ed;&#x7684;&#x65f6;&#x95f4;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">9.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Applicable Withholding Taxes</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Each Participant shall agree, as a condition of receiving an Award, to pay to the Company or its Affiliate, or make arrangements satisfactory to the Company regarding the payment of, all Applicable Withholding Taxes with respect to the Award. Until the Applicable Withholding Taxes have been paid or arrangements satisfactory to the Company have been made, no stock certificates (or, in the case of Restricted Stock, no stock certificates free of a restrictive legend) shall be issued to the Participant. As an alternative to making a cash payment to the Company to satisfy Applicable Withholding Tax obligations, the Committee may establish procedures permitting the Participant to elect to (a)&#x00a0;deliver shares of already owned Company Stock (subject to such restrictions as the Committee may establish, including a requirement that any shares of Company Stock so delivered shall have been held by the Participant for not less than six months) or (b)&#x00a0;have the Company retain that number of shares of Company Stock that would satisfy all or a specified portion of the Applicable Withholding Taxes. Any such election shall be made only in accordance with procedures established by the Committee.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">9.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x9002;&#x7528;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x6b3e;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x4f5c;&#x4e3a;&#x9886;&#x53d6;&#x5956;&#x52b1;&#x7684;&#x4e00;&#x4e2a;&#x6761;&#x4ef6;&#xff0c;&#x6bcf;&#x4e2a;&#x53c2;&#x4e0e;&#x8005;&#x5e94;&#x540c;&#x610f;&#x5411;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x652f;&#x4ed8;&#xff0c;&#x6216;&#x4f5c;&#x51fa;&#x4ee4;&#x516c;&#x53f8;&#x6ee1;&#x610f;&#x7684;&#x5b89;&#x6392;&#xff0c;&#x652f;&#x4ed8;&#x4e0e;&#x5956;&#x52b1;&#x6709;&#x5173;&#x7684;&#x6240;&#x6709;&#x9002;&#x7528;&#x9884;&#x6263;&#x7a0e;&#x6b3e;&#x3002;&#x5728;&#x652f;&#x4ed8;&#x9002;&#x7528;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x6b3e;&#x6216;&#x505a;&#x51fa;&#x4ee4;&#x516c;&#x53f8;&#x6ee1;&#x610f;&#x7684;&#x5b89;&#x6392;&#x4e4b;&#x524d;&#xff0c;&#x4e0d;&#x5f97;&#x5411;&#x53c2;&#x4e0e;&#x8005;&#x53d1;&#x653e;&#x80a1;&#x7968;&#xff08;&#x5982;&#x679c;&#x662f;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#xff0c;&#x5219;&#x4e0d;&#x5f97;&#x53d1;&#x653e;&#x4e0d;&#x542b;&#x9650;&#x5236;&#x6027;&#x6807;&#x5fd7;&#x7684;&#x80a1;&#x7968;&#xff09;&#x3002;&#x4f5c;&#x4e3a;&#x5411;&#x516c;&#x53f8;&#x652f;&#x4ed8;&#x73b0;&#x91d1;&#x4ee5;&#x5c65;&#x884c;&#x9884;&#x6263;&#x7a0e;&#x4e49;&#x52a1;&#x7684;&#x66ff;&#x4ee3;&#x65b9;&#x6848;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5236;&#x5b9a;&#x7a0b;&#x5e8f;&#xff0c;&#x5141;&#x8bb8;&#x53c2;&#x4e0e;&#x8005;&#x9009;&#x62e9;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4ea4;&#x4ed8;&#x5df2;&#x7ecf;&#x62e5;&#x6709;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#xff08;&#x53d7;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x80fd;&#x5236;&#x5b9a;&#x7684;&#x9650;&#x5236;&#xff0c;&#x5305;&#x62ec;&#x8981;&#x6c42;&#x5982;&#x6b64;&#x4ea4;&#x4ed8;&#x7684;&#x4efb;&#x4f55;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5e94;&#x88ab;&#x53c2;&#x4e0e;&#x8005;&#x6301;&#x6709;&#x4e0d;&#x5c11;&#x4e8e;&#x516d;&#x4e2a;&#x6708;&#xff09;&#x6216;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7531;&#x516c;&#x53f8;&#x4fdd;&#x7559;&#x4e00;&#x5b9a;&#x6570;&#x91cf;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#xff0c;&#x4ee5;&#x6ee1;&#x8db3;&#x5168;&#x90e8;&#x6216;&#x7279;&#x5b9a;&#x90e8;&#x5206;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x3002;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x9009;&#x62e9;&#x53ea;&#x80fd;&#x6839;&#x636e;&#x59d4;&#x5458;&#x4f1a;&#x5236;&#x5b9a;&#x7684;&#x7a0b;&#x5e8f;&#x8fdb;&#x884c;&#x3002;</FONT></P>
		</DIV>

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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Nontransferability of Awards</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10. </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5956;&#x52b1;&#x7684;&#x4e0d;&#x53ef;&#x8f6c;&#x8ba9;&#x6027;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) In general, Awards, by their terms, shall not be transferable by the Participant except by will or by the laws of descent and distribution or except as described below. Options shall be exercisable, during the Participant&#x2019;s lifetime, only by the Participant or by his guardian or legal representative.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e00;&#x822c;&#x6765;&#x8bf4;&#xff0c;&#x6839;&#x636e;&#x5176;&#x6761;&#x6b3e;&#xff0c;&#x9664;&#x975e;&#x6709;&#x9057;&#x5631;&#x6216;&#x6839;&#x636e;&#x4e16;&#x88ad;&#x548c;&#x5206;&#x914d;&#x6cd5;&#xff0c;&#x6216;&#x5982;&#x4e0b;&#x6240;&#x8ff0;&#xff0c;&#x5426;&#x5219;&#x53c2;&#x4e0e;&#x8005;&#x4e0d;&#x5f97;&#x8f6c;&#x8ba9;&#x5956;&#x52b1;&#x3002;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x751f;&#x524d;&#xff0c;&#x671f;&#x6743;&#x53ea;&#x80fd;&#x7531;&#x53c2;&#x4e0e;&#x8005;&#x6216;&#x5176;&#x76d1;&#x62a4;&#x4eba;&#x6216;&#x6cd5;&#x5b9a;&#x4ee3;&#x8868;&#x4eba;&#x884c;&#x4f7f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) Notwithstanding the provisions of (a)&#x00a0;and subject to federal and state securities laws, the Committee may grant Nonstatutory Stock Options that permit a Participant to transfer the Options to one or more immediate family members, to a trust for the benefit of immediate family members, or to a partnership, limited liability company, or other entity the only partners, members, or interest-holders of which are among the Participant&#x2019;s immediate family members. Consideration may not be paid for the transfer of Options. The transferee of an Option shall be subject to all conditions applicable to the Option prior to its transfer. The agreement granting the Option shall set forth the transfer conditions and restrictions. The Committee may impose on any transferable Option and on stock issued upon the exercise of an Option such limitations and conditions as the Committee deems appropriate.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5c3d;&#x7ba1;&#x6709;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x9879;&#x7684;&#x89c4;&#x5b9a;&#xff0c;&#x5728;&#x9075;&#x5b88;&#x8054;&#x90a6;&#x548c;&#x5dde;&#x8bc1;&#x5238;&#x6cd5;&#x7684;&#x524d;&#x63d0;&#x4e0b;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x6388;&#x4e88;&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;&#xff0c;&#x5141;&#x8bb8;&#x53c2;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x8005;&#x5c06;&#x671f;&#x6743;&#x8f6c;&#x8ba9;&#x7ed9;&#x4e00;&#x4e2a;&#x6216;&#x591a;&#x4e2a;&#x76f4;&#x7cfb;&#x4eb2;&#x5c5e;&#x3001;&#x4e3a;&#x76f4;&#x7cfb;&#x4eb2;&#x5c5e;&#x5229;&#x76ca;&#x800c;&#x8bbe;&#x7acb;&#x7684;&#x4fe1;&#x6258;&#x57fa;&#x91d1;&#x3001;&#x6216;&#x5408;&#x4f5c;&#x4f19;&#x4f34;&#x3001;&#x6709;&#x9650;&#x8d23;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4efb;&#x516c;&#x53f8;&#x3001;&#x6216;&#x5176;&#x4ed6;&#x5b9e;&#x4f53;&#xff08;&#x5176;&#x552f;&#x4e00;&#x7684;&#x5408;&#x4f5c;&#x4f19;&#x4f34;&#x3001;&#x6210;&#x5458;&#x6216;&#x5229;&#x76ca;&#x6301;&#x6709;&#x4eba;&#x662f;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x76f4;&#x7cfb;&#x4eb2;&#x5c5e;&#xff09;&#x3002;&#x5728;&#x8f6c;&#x8ba9;&#x671f;&#x6743;&#x65f6;&#xff0c;&#x4e0d;&#x5f97;&#x652f;&#x4ed8;&#x5bf9;&#x4ef7;&#x3002;&#x671f;&#x6743;&#x7684;&#x53d7;&#x8ba9;&#x4eba;&#x5728;&#x8f6c;&#x8ba9;&#x524d;&#x5e94;&#x53d7;&#x5236;&#x4e8e;&#x6240;&#x6709;&#x9002;&#x7528;&#x4e8e;&#x8be5;&#x671f;&#x6743;&#x7684;&#x6761;&#x4ef6;&#x3002;&#x6388;&#x4e88;&#x671f;&#x6743;&#x7684;&#x534f;&#x8bae;&#x5e94;&#x89c4;&#x5b9a;&#x8f6c;&#x8ba9;&#x6761;&#x4ef6;&#x548c;&#x9650;&#x5236;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x5bf9;&#x4efb;&#x4f55;&#x53ef;&#x8f6c;&#x8ba9;&#x7684;&#x671f;&#x6743;&#x548c;&#x56e0;&#x884c;&#x4f7f;&#x671f;&#x6743;&#x800c;&#x53d1;&#x884c;&#x7684;&#x80a1;&#x7968;&#x65bd;&#x52a0;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x5408;&#x9002;&#x7684;&#x9650;&#x5236;&#x548c;&#x6761;&#x4ef6;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">11.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Termination, Modification, Change</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. If not sooner terminated by the Board, this Plan shall terminate at the close of business on the tenth anniversary of the Effective Date. No Awards shall be made under the Plan after its termination. The Board may terminate the Plan or may amend the Plan in such respects as it shall deem advisable; provided that, no change shall be made that increases the total number of shares of Company Stock reserved for issuance pursuant to Awards granted under the Plan (except pursuant to Section&#x00a0;12), expands the class of persons eligible to receive Awards, or materially increases the benefits accruing to Participants under the Plan, unless such change is authorized by the shareholders of the Company. Notwithstanding the foregoing, the Board may unilaterally amend the Plan and Awards as it deems appropriate to cause Incentive Stock Options to meet the requirements of the Code and regulations thereunder. Except as provided in the preceding sentence, a termination or amendment of the Plan shall not, without the consent of the Participant, materially and adversely affect a Participant&#x2019;s rights under an Award previously granted to him.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">11.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x7ec8;&#x6b62;&#x3001;&#x4fee;&#x6539;&#x3001;&#x53d8;&#x66f4;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x5982;&#x679c;&#x8463;&#x4e8b;&#x4f1a;&#x4e0d;&#x63d0;&#x524d;&#x7ec8;&#x6b62;&#xff0c;&#x672c;&#x8ba1;&#x5212;&#x5e94;&#x5728;&#x751f;&#x6548;&#x65e5;&#x671f;&#x5341;&#x5468;&#x5e74;&#x7684;&#x8425;&#x4e1a;&#x7ed3;&#x675f;&#x65f6;&#x7ec8;&#x6b62;&#x3002;&#x5728;&#x672c;&#x8ba1;&#x5212;&#x7ec8;&#x6b62;&#x540e;&#xff0c;&#x4e0d;&#x5f97;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x8fdb;&#x884c;&#x5956;&#x52b1;&#x3002;&#x8463;&#x4e8b;&#x4f1a;&#x53ef;&#x4ee5;&#x7ec8;&#x6b62;&#x672c;&#x8ba1;&#x5212;&#xff0c;&#x4e5f;&#x53ef;&#x4ee5;&#x5728;&#x5176;&#x8ba4;&#x4e3a;&#x5408;&#x9002;&#x7684;&#x65b9;&#x9762;&#x4fee;&#x6539;&#x672c;&#x8ba1;&#x5212;&#xff1b;&#x4f46;&#x4e0d;&#x5f97;&#x505a;&#x51fa;&#x4efb;&#x4f55;&#x6539;&#x53d8;&#x4ee5;&#x589e;&#x52a0;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#x6240;&#x4fdd;&#x7559;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x603b;&#x6570;&#xff08;&#x6839;&#x636e;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x9664;&#x5916;&#xff09;&#xff0c;&#x6269;&#x5927;&#x6709;&#x8d44;&#x683c;&#x83b7;&#x5f97;&#x5956;&#x52b1;&#x7684;&#x4eba;&#x5458;&#x7c7b;&#x522b;&#xff0c;&#x6216;&#x5927;&#x5e45;&#x589e;&#x52a0;&#x53c2;&#x4e0e;&#x8005;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x5e94;&#x5f97;&#x7684;&#x5229;&#x76ca;&#xff0c;&#x9664;&#x975e;&#x8fd9;&#x79cd;&#x6539;&#x53d8;&#x5f97;&#x5230;&#x516c;&#x53f8;&#x80a1;&#x4e1c;&#x6388;&#x6743;&#x3002;&#x5c3d;&#x7ba1;&#x6709;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#xff0c;&#x8463;&#x4e8b;&#x4f1a;&#x53ef;&#x4ee5;&#x5728;&#x5176;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#x5355;&#x65b9;&#x9762;&#x4fee;&#x6539;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x5956;&#x52b1;&#xff0c;&#x4ee5;&#x4f7f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7b26;&#x5408;&#x7f8e;&#x56fd;&#x6cd5;&#x5178;&#x53ca;&#x5176;&#x89c4;&#x5b9a;&#x7684;&#x8981;&#x6c42;&#x3002;&#x9664;&#x524d;&#x53e5;&#x89c4;&#x5b9a;&#x5916;&#xff0c;&#x672a;&#x7ecf;&#x53c2;&#x4e0e;&#x8005;&#x540c;&#x610f;&#xff0c;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x7ec8;&#x6b62;&#x6216;&#x4fee;&#x8ba2;&#x4e0d;&#x5f97;&#x5bf9;&#x53c2;&#x4e0e;&#x8005;&#x5148;&#x524d;&#x6388;&#x4e88;&#x4ed6;&#x7684;&#x5956;&#x52b1;&#x7684;&#x6743;&#x5229;&#x4ea7;&#x751f;&#x91cd;&#x5927;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0d;&#x5229;&#x5f71;&#x54cd;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Change in Capital Structure</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12.&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x8d44;&#x672c;&#x7ed3;&#x6784;&#x7684;&#x53d8;&#x5316;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) In the event of a stock dividend, stock split or combination of shares, spin-off, reclassification, recapitalization, merger or other change in the Company&#x2019;s capital stock (including, but not limited to, the creation or issuance to shareholders generally of rights, options or warrants for the purchase of common shares or preferred stock of the Company), the number and kind of shares of stock or securities of the Company to be </FONT></P>
		</DIV>

<FONT CLASS="Adobe" STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal">&nbsp;</FONT><!-- Field: Page; Sequence: 9; Value: 1 -->
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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">issued under the Plan (under outstanding Awards and Awards to be granted in the future), the exercise price of options, and other relevant provisions shall be appropriately adjusted by the Committee, whose determination shall be binding on all persons. If the adjustment would produce fractional shares with respect to any Award, the Committee may adjust appropriately the number of shares covered by the Award so as to eliminate the fractional shares.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x53d1;&#x751f;&#x80a1;&#x7968;&#x7ea2;&#x5229;&#x3001;&#x80a1;&#x7968;&#x62c6;&#x5206;&#x6216;&#x5408;&#x5e76;&#x3001;&#x5206;&#x62c6;&#x3001;&#x91cd;&#x65b0;&#x5206;&#x7c7b;&#x3001;&#x8d44;&#x672c;&#x91cd;&#x7ec4;&#x3001;&#x5408;&#x5e76;&#x6216;&#x516c;&#x53f8;&#x80a1;&#x672c;&#x7684;&#x5176;&#x4ed6;&#x53d8;&#x5316;&#xff08;&#x5305;&#x62ec;&#x4f46;&#x4e0d;&#x9650;&#x4e8e;&#x8bbe;&#x7acb;&#x6216;&#x5411;&#x80a1;&#x4e1c;&#x666e;&#x904d;&#x53d1;&#x653e;&#x8d2d;&#x4e70;&#x516c;&#x53f8;&#x666e;&#x901a;&#x80a1;&#x6216;&#x4f18;&#x5148;&#x80a1;&#x7684;&#x6743;&#x5229;&#x3001;&#x671f;&#x6743;&#x6216;&#x8ba4;&#x80a1;&#x6743;&#xff09;&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x53d1;&#x884c;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6216;&#x8bc1;&#x5238;&#x7684;&#x6570;&#x91cf;&#x548c;&#x79cd;&#x7c7b;&#xff08;&#x6839;&#x636e;&#x672a;&#x5b8c;&#x6210;&#x7684;&#x5956;&#x52b1;&#x548c;&#x672a;&#x6765;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#xff09;&#x3001;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x4ee5;&#x53ca;&#x5176;&#x4ed6;&#x76f8;&#x5173;&#x89c4;&#x5b9a;&#x5e94;&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x8fdb;&#x884c;&#x9002;&#x5f53;&#x8c03;&#x6574;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x51b3;&#x5b9a;&#x5bf9;&#x6240;&#x6709;&#x4eba;&#x90fd;&#x6709;&#x7ea6;&#x675f;&#x529b;&#x3002;&#x5982;&#x679c;&#x8c03;&#x6574;&#x4f1a;&#x4ea7;&#x751f;&#x4efb;&#x4f55;&#x5956;&#x52b1;&#x7684;&#x788e;&#x80a1;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x9002;&#x5f53;&#x8c03;&#x6574;&#x5956;&#x52b1;&#x6240;&#x6d89;&#x53ca;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#xff0c;&#x4ee5;&#x6d88;&#x9664;&#x788e;&#x80a1;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) In the event the Company distributes to its shareholders a dividend, or sells or causes to be sold to a person, other than the Company or a subsidiary, shares of stock in any corporation (a &#x201c;Spinoff Company&#x201d;) which, immediately before the distribution or sale, was a majority owned subsidiary of the Company, the Committee shall have the power, in its sole discretion, to make such adjustments as the Committee deems appropriate. The Committee may make adjustments in the number and kind of shares or other securities to be issued under the Plan (under outstanding Awards and Awards to be granted in the future), the exercise price of Options, and other relevant provisions, and, without limiting the foregoing, may substitute securities of a Spinoff Company for securities of the Company. The Committee shall make such adjustments as it determines to be appropriate, considering the economic effect of the distribution or sale on the interests of the Company&#x2019;s shareholders and the Participants in the businesses operated by the Spinoff Company, and subject to the proviso that any such adjustments or new options shall not be made or granted, respectively, that would result in subjecting the Plan to variable plan accounting treatment. The Committee&#x2019;s determination shall be binding on all persons. If the adjustment would produce fractional shares with respect to any Award, the Committee may adjust appropriately the number of shares covered by the Award so as to eliminate the fractional shares.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x672c;&#x516c;&#x53f8;&#x5411;&#x5176;&#x80a1;&#x4e1c;&#x5206;&#x914d;&#x80a1;&#x606f;&#xff0c;&#x6216;&#x5411;&#x672c;&#x516c;&#x53f8;&#x6216;&#x5b50;&#x516c;&#x53f8;&#x4ee5;&#x5916;&#x7684;&#x4eba;&#x51fa;&#x552e;&#x6216;&#x5bfc;&#x81f4;&#x51fa;&#x552e;&#x4efb;&#x4f55;&#x516c;&#x53f8;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5265;&#x79bb;&#x516c;&#x53f8;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x7684;&#x80a1;&#x7968;&#xff0c;&#x800c;&#x8be5;&#x516c;&#x53f8;&#x5728;&#x5206;&#x914d;&#x6216;&#x51fa;&#x552e;&#x4e4b;&#x524d;&#x662f;&#x672c;&#x516c;&#x53f8;&#x62e5;&#x6709;&#x591a;&#x6570;&#x80a1;&#x6743;&#x7684;&#x5b50;&#x516c;&#x53f8;&#xff0c;&#x5219;&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x6743;&#x81ea;&#x884c;&#x51b3;&#x5b9a;&#x4f5c;&#x51fa;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x8c03;&#x6574;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5bf9;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#xff08;&#x6839;&#x636e;&#x672a;&#x5b8c;&#x6210;&#x7684;&#x5956;&#x52b1;&#x548c;&#x672a;&#x6765;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#xff09;&#x53d1;&#x884c;&#x7684;&#x80a1;&#x4efd;&#x6216;&#x5176;&#x4ed6;&#x8bc1;&#x5238;&#x7684;&#x6570;&#x91cf;&#x548c;&#x79cd;&#x7c7b;&#x3001;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x4ee5;&#x53ca;&#x5176;&#x4ed6;&#x76f8;&#x5173;&#x89c4;&#x5b9a;&#x8fdb;&#x884c;&#x8c03;&#x6574;&#xff0c;&#x5e76;&#x4e14;&#x5728;&#x4e0d;&#x9650;&#x5236;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x53ef;&#x4ee5;&#x7528;&#x5265;&#x79bb;&#x516c;&#x53f8;&#x7684;&#x8bc1;&#x5238;&#x53d6;&#x4ee3;&#x672c;&#x516c;&#x53f8;&#x7684;&#x8bc1;&#x5238;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x5728;&#x8003;&#x8651;&#x5230;&#x5206;&#x914d;&#x6216;&#x51fa;&#x552e;&#x5bf9;&#x516c;&#x53f8;&#x80a1;&#x4e1c;&#x548c;&#x53c2;&#x4e0e;&#x8005;&#x5728;&#x5265;&#x79bb;&#x516c;&#x53f8;&#x7ecf;&#x8425;&#x7684;&#x4e1a;&#x52a1;&#x4e2d;&#x7684;&#x5229;&#x76ca;&#x7684;&#x7ecf;&#x6d4e;&#x5f71;&#x54cd;&#x540e;&#xff0c;&#x505a;&#x51fa;&#x5176;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x8c03;&#x6574;&#xff0c;&#x4f46;&#x6761;&#x4ef6;&#x662f;&#xff0c;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x8c03;&#x6574;&#x6216;&#x65b0;&#x671f;&#x6743;&#x7684;&#x505a;&#x51fa;&#x6216;&#x6388;&#x4e88;&#xff0c;&#x4e0d;&#x5f97;&#x5bfc;&#x81f4;&#x672c;&#x8ba1;&#x5212;&#x53d7;&#x5230;&#x53ef;&#x53d8;&#x8ba1;&#x5212;&#x4f1a;&#x8ba1;&#x5904;&#x7406;&#x7684;&#x5f71;&#x54cd;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x51b3;&#x5b9a;&#x5bf9;&#x6240;&#x6709;&#x4eba;&#x5458;&#x90fd;&#x6709;&#x7ea6;&#x675f;&#x529b;&#x3002;&#x5982;&#x679c;&#x8c03;&#x6574;&#x4f1a;&#x4ea7;&#x751f;&#x4efb;&#x4f55;&#x5956;&#x52b1;&#x7684;&#x96f6;&#x661f;&#x80a1;&#x4efd;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x9002;&#x5f53;&#x8c03;&#x6574;&#x5956;&#x52b1;&#x6240;&#x6d89;&#x53ca;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#xff0c;&#x4ee5;&#x6d88;&#x9664;&#x96f6;&#x661f;&#x80a1;&#x4efd;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) To the extent required to avoid a charge to earnings for financial accounting purposes, adjustments made by the Committee pursuant to this Section&#x00a0;12 to outstanding Awards shall be made so that both (i)&#x00a0;the aggregate intrinsic value of an Award immediately after the adjustment is not greater than or less than </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">the Award&#x2019;s</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> aggregate intrinsic value before the adjustment and (ii)&#x00a0;the ratio of the exercise price per share to the market value per share is not reduced.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e3a;&#x907f;&#x514d;&#x5728;&#x8d22;&#x52a1;&#x4f1a;&#x8ba1;&#x65b9;&#x9762;&#x4ea7;&#x751f;&#x8d39;&#x7528;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x6839;&#x636e;&#x672c;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x5bf9;&#x5c1a;&#x672a;&#x5151;&#x73b0;&#x7684;&#x5956;&#x52b1;&#x8fdb;&#x884c;&#x7684;&#x8c03;&#x6574;&#xff0c;&#x5e94;&#x4f7f;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7d27;&#x63a5;&#x8c03;&#x6574;&#x540e;&#x7684;&#x5956;&#x52b1;&#x7684;&#x5185;&#x5728;&#x4ef7;&#x503c;&#x603b;&#x989d;&#x4e0d;&#x9ad8;&#x4e8e;&#x6216;&#x4f4e;&#x4e8e;&#x8c03;&#x6574;&#x524d;&#x7684;&#x5956;&#x52b1;&#x5185;&#x5728;&#x4ef7;&#x503c;&#x603b;&#x989d;&#xff0c;&#x5e76;&#x4e14;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6bcf;&#x80a1;&#x884c;&#x4f7f;&#x4ef7;&#x4e0e;&#x6bcf;&#x80a1;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x7684;&#x6bd4;&#x7387;&#x4e0d;&#x51cf;&#x5c11;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) Notwithstanding anything in the Plan to the contrary, the Committee may take the foregoing actions without the consent of any Participant, and the Committee&#x2019;s determination shall be conclusive and binding on all persons for all purposes. The Committee shall make its determinations consistent with the applicable provisions of the Code.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5373;&#x4f7f;&#x672c;&#x8ba1;&#x5212;&#x6709;&#x4efb;&#x4f55;&#x76f8;&#x53cd;&#x7684;&#x89c4;&#x5b9a;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x4e0d;&#x7ecf;&#x4efb;&#x4f55;&#x53c2;&#x4e0e;&#x8005;&#x540c;&#x610f;&#x800c;&#x91c7;&#x53d6;&#x4e0a;&#x8ff0;&#x884c;&#x52a8;&#xff0c;&#x800c;&#x4e14; &#x59d4;&#x5458;&#x4f1a;&#x7684;&#x51b3;&#x5b9a;&#x5e94;&#x662f;&#x51b3;&#x5b9a;&#x6027;&#x7684;&#xff0c;&#x5728;&#x6240;&#x6709;&#x65b9;&#x9762;&#x5bf9;&#x6240;&#x6709;&#x4eba;&#x90fd;&#x6709;&#x7ea6;&#x675f;&#x529b;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x51b3;&#x5b9a;&#x5e94;&#x7b26;&#x5408;&#x300a;&#x6cd5;&#x5178;&#x300b;&#x7684;&#x9002;&#x7528;&#x6761;&#x6b3e;&#x3002;</FONT></P>
		</DIV>

<FONT CLASS="Adobe" STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal">&nbsp;</FONT><!-- Field: Page; Sequence: 10; Value: 1 -->
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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">13.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Change of Control</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. In the event of a Change of Control or Corporate Change, the Committee may take such actions with respect to Awards as the Committee deems appropriate. These actions may include, but shall not be limited to, the following:</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">13.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x63a7;&#x5236;&#x6743;&#x7684;&#x53d8;&#x66f4;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x5728;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5bf9;&#x5956;&#x52b1;&#x91c7;&#x53d6;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x884c;&#x52a8;&#x3002;&#x8fd9;&#x4e9b;&#x884c;&#x52a8;&#x53ef;&#x80fd;&#x5305;&#x62ec;&#xff0c;&#x4f46;&#x4e0d;&#x9650;&#x4e8e;&#x4ee5;&#x4e0b;&#x65b9;&#x9762;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) At the time the Award is made, provide for the acceleration of the vesting schedule relating to the exercise or realization of the Award so that the Award may be exercised or realized in full on or before a date initially fixed by the Committee;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x4f5c;&#x51fa;&#x5956;&#x52b1;&#x65f6;&#xff0c;&#x89c4;&#x5b9a;&#x52a0;&#x901f;&#x4e0e;&#x884c;&#x4f7f;&#x6216;&#x5b9e;&#x73b0;&#x5956;&#x52b1;&#x6709;&#x5173;&#x7684;&#x5f52;&#x5c5e;&#x65f6;&#x95f4;&#x8868;&#xff0c;&#x4ee5;&#x4fbf;&#x5956;&#x52b1;&#x53ef;&#x4ee5;&#x5728;&#x59d4;&#x5458;&#x4f1a;&#x6700;&#x521d;&#x786e;&#x5b9a;&#x7684;&#x65e5;&#x671f;&#x6216;&#x4e4b;&#x524d;&#x5168;&#x90e8;&#x884c;&#x4f7f;&#x6216;&#x5b9e;&#x73b0;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) Provide for the purchase or settlement of any such Award by the Company for any amount of cash equal to the amount which could have been obtained upon the exercise of such Award or realization of a Participant&#x2019;s rights had such Award been currently exercisable or payable;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x89c4;&#x5b9a;&#x516c;&#x53f8;&#x4ee5;&#x4efb;&#x4f55;&#x6570;&#x989d;&#x7684;&#x73b0;&#x91d1;&#x8d2d;&#x4e70;&#x6216;&#x7ed3;&#x7b97;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x5956;&#x52b1;&#xff0c;&#x5176;&#x6570;&#x989d;&#x76f8;&#x5f53;&#x4e8e;&#x5728;&#x8be5;&#x5956;&#x52b1;&#x76ee;&#x524d;&#x53ef;&#x884c;&#x4f7f;&#x6216;&#x5e94;&#x652f;&#x4ed8;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#x884c;&#x4f7f;&#x8be5;&#x5956;&#x52b1;&#x6216;&#x5b9e;&#x73b0;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x6743;&#x5229;&#x6240;&#x80fd;&#x83b7;&#x5f97;&#x7684;&#x6570;&#x989d;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) Make adjustments to Awards then outstanding as the Committee deems appropriate to reflect such Change of Control or Corporate Change; provided, however, that to the extent required to avoid a charge to earnings for financial accounting purposes, such adjustments shall be made so that both (i)&#x00a0;the aggregate intrinsic value of an Award immediately after the adjustment is not greater than or less than the Award&#x2019;s aggregate intrinsic value before the Award and (ii)&#x00a0;the ratio of the exercise price per share to the market value per share is not reduced; or</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x5bf9;&#x5f53;&#x65f6;&#x5c1a;&#x672a;&#x5151;&#x73b0;&#x7684;&#x5956;&#x52b1;&#x8fdb;&#x884c;&#x8c03;&#x6574;&#xff0c;&#x4ee5;&#x53cd;&#x6620;&#x8be5;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#xff1b;&#x4f46;&#x662f;&#xff0c;&#x5728;&#x9700;&#x8981;&#x907f;&#x514d;&#x4e3a;&#x8d22;&#x52a1;&#x4f1a;&#x8ba1;&#x76ee;&#x7684;&#x800c;&#x4ece;&#x6536;&#x76ca;&#x4e2d;&#x6263;&#x9664;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x8be5;&#x7b49;&#x8c03;&#x6574;&#x5e94;&#x4f7f;(i)&#x7d27;&#x63a5;&#x8c03;&#x6574;&#x540e;&#x7684;&#x5956;&#x52b1;&#x7684;&#x603b;&#x5185;&#x5728;&#x4ef7;&#x503c;&#x4e0d;&#x9ad8;&#x4e8e;&#x6216;&#x4f4e;&#x4e8e;&#x5956;&#x52b1;&#x524d;&#x7684;&#x603b;&#x5185;&#x5728;&#x4ef7;&#x503c;&#xff0c;&#x4ee5;&#x53ca;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6bcf;&#x80a1;&#x884c;&#x4f7f;&#x4ef7;&#x4e0e;&#x6bcf;&#x80a1;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x7684;&#x6bd4;&#x7387;&#x4e0d;&#x51cf;&#x5c11;&#xff1b;&#x6216;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) Cause any such Award then outstanding to be assumed, or new rights substituted therefore, by the acquiring or surviving legal entity in such Change of Control or Corporate Change.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x4e2d;&#xff0c;&#x4f7f;&#x5f53;&#x65f6;&#x5c1a;&#x672a;&#x5151;&#x73b0;&#x7684;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x5956;&#x52b1;&#x7531;&#x6536;&#x8d2d;&#x65b9;&#x6216;&#x5b58;&#x7eed;&#x7684;&#x6cd5;&#x5f8b;&#x5b9e;&#x4f53;&#x627f;&#x62c5;&#xff0c;&#x6216;&#x7528;&#x65b0;&#x7684;&#x6743;&#x5229;&#x66ff;&#x4ee3;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-9" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;page-break-after:avoid;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">14.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Administration of the Plan</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-9" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;page-break-after:avoid;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">14.&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x8ba1;&#x5212;&#x7684;&#x7ba1;&#x7406;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) The Plan shall be administered by the Committee, who shall be appointed by the Board. The Board may designate the Compensation Committee of the Board, or a subcommittee of the Compensation Committee, to be the Committee for purposes of the Plan.  The Board may from time to time may appoint members of the Committee and fill vacancies, however caused, in the Committee.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x672c;&#x8ba1;&#x5212;&#x7531;&#x8463;&#x4e8b;&#x4f1a;&#x4efb;&#x547d;&#x7684;&#x59d4;&#x5458;&#x4f1a;&#x8d1f;&#x8d23;&#x7ba1;&#x7406;&#x3002;&#x8463;&#x4e8b;&#x4f1a;&#x53ef;&#x6307;&#x5b9a;&#x8463;&#x4e8b;&#x4f1a;&#x7684;&#x85aa;&#x916c;&#x59d4;&#x5458;&#x4f1a;&#xff0c;&#x6216;&#x85aa;&#x916c;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x4e00;&#x4e2a;&#x5c0f;&#x7ec4;&#x59d4;&#x5458;&#x4f1a;&#xff0c;&#x4f5c;&#x4e3a;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x59d4;&#x5458;&#x4f1a;&#x3002;&#x8463;&#x4e8b;&#x4f1a;&#x53ef;&#x4ee5;&#x4e0d;&#x65f6;&#x5730;&#x4efb;&#x547d;&#x59d4;&#x5458;&#x4f1a;&#x6210;&#x5458;&#xff0c;&#x5e76;&#x586b;&#x8865;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x7531;&#x4efb;&#x4f55;&#x539f;&#x56e0;&#x9020;&#x6210;&#x7684;&#x7a7a;&#x7f3a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The Committee shall have the authority to impose such limitations or conditions upon an Award as the Committee deems appropriate to achieve the objectives of the Award and the Plan. Without limiting the foregoing and in addition to the powers set forth elsewhere in the Plan, the Committee shall have the power and complete discretion to determine (i)&#x00a0;which eligible persons shall receive an Award and the nature of the Award, (ii)&#x00a0;the number of shares of Company Stock to be covered by each Award, (iii)&#x00a0;whether Options shall be Incentive Stock Options or Nonstatutory Stock Options, (iv)&#x00a0;the Fair Market Value of Company Stock, (v)&#x00a0;the time or times when an Award shall be granted, (vi)&#x00a0;whether an Award shall become vested over a period of time, according to a performance-based vesting schedule or otherwise, and when it shall be fully vested, (vii)&#x00a0;the </FONT></P>
		</DIV>

<FONT CLASS="Adobe" STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal">&nbsp;</FONT><!-- Field: Page; Sequence: 11; Value: 1 -->
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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">terms and conditions under which restrictions imposed upon an Award shall lapse, (viii)&#x00a0;whether a Change of Control or Corporate Change exists, (ix)&#x00a0;the terms of incentive programs, performance criteria and other factors relevant to the issuance of Awards or the lapse of restrictions on Restricted Stock or Options, (x)&#x00a0;when Options may be exercised, (xi)&#x00a0;whether to approve a Participant&#x2019;s election with respect to Applicable Withholding Taxes, (xii)&#x00a0;conditions relating to the length of time before disposition of Company Stock received in connection with an Award is permitted, (xiii)&#x00a0;notice provisions relating to the sale of Company Stock acquired under the Plan, and (xiv)&#x00a0;any additional requirements relating to Awards that the Committee deems appropriate. Notwithstanding the foregoing, no &#x201c;tandem stock options&#x201d; (where two stock options are issued together and the exercise of one option affects the right to exercise the other option) may be issued in connection with Incentive Stock Options.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x6743;&#x5bf9;&#x5956;&#x52b1;&#x65bd;&#x52a0;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x9650;&#x5236;&#x6216;&#x6761;&#x4ef6;&#xff0c;&#x4ee5;&#x5b9e;&#x73b0;&#x5956;&#x52b1;&#x548c;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x76ee;&#x6807;&#x3002;&#x5728;&#x4e0d;&#x9650;&#x5236;&#x5728;&#x4e0d;&#x9650;&#x5236;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x9664;&#x4e86;&#x672c;&#x8ba1;&#x5212;&#x5176;&#x4ed6;&#x90e8;&#x5206;&#x89c4;&#x5b9a;&#x7684;&#x6743;&#x529b;&#x5916;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x6709;&#x6743;&#x5e76;&#x5b8c;&#x5168;&#x914c;&#x60c5;&#x51b3;&#x5b9a;&#xff1a;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x54ea;&#x4e9b;&#x7b26;&#x5408;&#x6761;&#x4ef6;&#x7684;&#x4eba;&#x5e94;&#x83b7;&#x5f97;&#x5956;&#x52b1;&#x548c;&#x5956;&#x52b1;&#x7684;&#x6027;&#x8d28;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6bcf;&#x9879;&#x5956;&#x52b1;&#x6240;&#x6db5;&#x76d6;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x6570;&#x91cf;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x671f;&#x6743;&#x5e94;&#x662f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x8fd8;&#x662f;&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iv) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(v) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6388;&#x4e88;&#x5956;&#x52b1;&#x7684;&#x65f6;&#x95f4;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(vi) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5956;&#x52b1;&#x662f;&#x5426;&#x5728;&#x4e00;&#x6bb5;&#x65f6;&#x95f4;&#x5185;&#x6839;&#x636e;&#x4e1a;&#x7ee9;&#x5f52;&#x5c5e;&#x65f6;&#x95f4;&#x8868;&#x6216;&#x5176;&#x4ed6;&#x65b9;&#x5f0f;&#x5f52;&#x5c5e;&#xff0c;&#x4ee5;&#x53ca;&#x4f55;&#x65f6;&#x5b8c;&#x5168;&#x5f52;&#x5c5e;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(vii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5956;&#x52b1;&#x6240;&#x53d7;&#x9650;&#x5236;&#x5931;&#x6548;&#x7684;&#x6761;&#x6b3e;&#x548c;&#x6761;&#x4ef6;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(viii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x662f;&#x5426;&#x5b58;&#x5728;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ix) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6fc0;&#x52b1;&#x8ba1;&#x5212;&#x7684;&#x6761;&#x6b3e;&#x3001;&#x4e1a;&#x7ee9;&#x6807;&#x51c6;&#x548c;&#x5176;&#x4ed6;&#x4e0e;&#x53d1;&#x884c;&#x5956;&#x52b1;&#x6216;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x6216;&#x671f;&#x6743;&#x7684;&#x9650;&#x5236;&#x5931;&#x6548;&#x6709;&#x5173;&#x7684;&#x56e0;&#x7d20;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(x) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4f55;&#x65f6;&#x53ef;&#x4ee5;&#x884c;&#x4f7f;&#x671f;&#x6743;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(xi)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x662f;&#x5426;&#x6279;&#x51c6;&#x53c2;&#x4e0e;&#x8005;&#x5173;&#x4e8e;&#x9002;&#x7528;&#x9884;&#x6263;&#x7a0e;&#x6b3e;&#x7684;&#x9009;&#x62e9;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(xii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x5141;&#x8bb8;&#x5904;&#x7f6e;&#x56e0;&#x5956;&#x52b1;&#x800c;&#x6536;&#x5230;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x65f6;&#x95f4;&#x957f;&#x5ea6;&#x6709;&#x5173;&#x7684;&#x6761;&#x4ef6;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(xiii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x51fa;&#x552e;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x83b7;&#x5f97;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6709;&#x5173;&#x7684;&#x901a;&#x77e5;&#x6761;&#x6b3e;&#xff0c;&#x4ee5;&#x53ca;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(xiv)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x5956;&#x52b1;&#x6709;&#x5173;&#x7684;&#x4efb;&#x4f55;&#x5176;&#x4ed6;&#x8981;&#x6c42;&#x3002;&#x5c3d;&#x7ba1;&#x6709;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#xff0c;&#x4f46;&#x5728;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x4e2d;&#x4e0d;&#x5f97;&#x53d1;&#x884c; </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e32;&#x8054;&#x80a1;&#x7968;&#x671f;&#x6743;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff08;&#x5373;&#x4e24;&#x4e2a;&#x80a1;&#x7968;&#x671f;&#x6743;&#x4e00;&#x8d77;&#x53d1;&#x884c;&#xff0c;&#x4e00;&#x4e2a;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4f1a;&#x5f71;&#x54cd;&#x53e6;&#x4e00;&#x4e2a;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x6743;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) The Committee shall have the power to amend the terms of previously granted Awards so long as the terms as amended are consistent with the terms of the Plan and, where applicable, consistent with the qualification of an Option as an Incentive Stock Option. The consent of the Participant must be obtained with respect to any amendment that would materially and adversely affect the Participant&#x2019;s rights under the Award, except that such consent shall not be required if such amendment is for the purpose of complying any requirement of the Code applicable to the Award.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x6743;&#x4fee;&#x6539;&#x4ee5;&#x524d;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#x7684;&#x6761;&#x6b3e;&#xff0c;&#x53ea;&#x8981;&#x4fee;&#x6539;&#x540e;&#x7684;&#x6761;&#x6b3e;&#x4e0e;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x6761;&#x6b3e;&#x76f8;&#x4e00;&#x81f4;&#xff0c;&#x5e76;&#x5728;&#x9002;&#x7528;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x4e0e;&#x6fc0;&#x52b1;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x8d44;&#x683c;&#x76f8;&#x4e00;&#x81f4;&#x3002;&#x4efb;&#x4f55;&#x4f1a;&#x5bf9;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x6743;&#x5229;&#x4ea7;&#x751f;&#x91cd;&#x5927;&#x4e0d;&#x5229;&#x5f71;&#x54cd;&#x7684;&#x4fee;&#x8ba2;&#x5fc5;&#x987b;&#x5f81;&#x5f97;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x540c;&#x610f;&#xff0c;&#x4f46;&#x5982;&#x679c;&#x8be5;&#x4fee;&#x8ba2;&#x662f;&#x4e3a;&#x4e86;&#x9075;&#x5b88;&#x9002;&#x7528;&#x4e8e;&#x8be5;&#x5956;&#x52b1;&#x7684;&#x6cd5;&#x5178;&#x7684;&#x4efb;&#x4f55;&#x8981;&#x6c42;&#xff0c;&#x5219;&#x4e0d;&#x9700;&#x8981;&#x5f81;&#x5f97;&#x540c;&#x610f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) The Committee may adopt rules and regulations for carrying out the Plan. The Committee shall have the express discretionary authority to construe and interpret the Plan and the Award agreements, to resolve any ambiguities, to define any terms, and to make any other determinations required by the Plan or an Award agreement. The interpretation and construction of any provisions of the Plan or an Award agreement by the Committee shall be final and conclusive. The Committee may consult with counsel, who may be counsel to the Company, and shall not incur any liability for any action taken in good faith in reliance upon the advice of counsel.</FONT></P>
		</DIV>

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	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x901a;&#x8fc7;&#x89c4;&#x5219;&#x548c;&#x6761;&#x4f8b;&#x6765;&#x6267;&#x884c;&#x672c;&#x8ba1;&#x5212;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x660e;&#x786e;&#x7684;&#x81ea;&#x7531;&#x88c1;&#x91cf;&#x6743;&#x6765;&#x89e3;&#x91ca;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x5956;&#x52b1;&#x534f;&#x8bae;&#xff0c;&#x89e3;&#x51b3;&#x4efb;&#x4f55;&#x542b;&#x7cca;&#x4e0d;&#x6e05;&#x7684;&#x95ee;&#x9898;&#xff0c;&#x5b9a;&#x4e49;&#x4efb;&#x4f55;&#x672f;&#x8bed;&#xff0c;&#x5e76;&#x4f5c;&#x51fa;&#x672c;&#x8ba1;&#x5212;&#x6216;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x6240;&#x8981;&#x6c42;&#x7684;&#x4efb;&#x4f55;&#x5176;&#x4ed6;&#x51b3;&#x5b9a;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x5bf9;&#x672c;&#x8ba1;&#x5212;&#x6216;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x7684;&#x4efb;&#x4f55;&#x6761;&#x6b3e;&#x7684;&#x89e3;&#x91ca;&#x548c;&#x8bf4;&#x660e;&#x5e94;&#x662f;&#x6700;&#x7ec8;&#x548c;&#x51b3;&#x5b9a;&#x6027;&#x7684;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x54a8;&#x8be2;&#x5f8b;&#x5e08;&#xff0c;&#x5f8b;&#x5e08;&#x53ef;&#x4ee5;&#x662f;&#x516c;&#x53f8;&#x7684;&#x6cd5;&#x5f8b;&#x987e;&#x95ee;&#xff0c;&#x5e76;&#x4e14;&#x4e0d;&#x5bf9;&#x4efb;&#x4f55;&#x6839;&#x636e;&#x6cd5;&#x5f8b;&#x987e;&#x95ee;&#x7684;&#x5efa;&#x8bae;&#x800c;&#x5584;&#x610f;&#x91c7;&#x53d6;&#x7684;&#x884c;&#x52a8;&#x627f;&#x62c5;&#x4efb;&#x4f55;&#x8d23;&#x4efb;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e) A majority of the members of the Committee shall constitute a quorum, and all actions of the Committee shall be taken by a majority of the members present. Any action may be taken by a written instrument signed by all of the members, and any action so taken shall be fully effective as if it had been taken at a meeting.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x8fc7;&#x534a;&#x6570;&#x7684;&#x6210;&#x5458;&#x6784;&#x6210;&#x6cd5;&#x5b9a;&#x4eba;&#x6570;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x6240;&#x6709;&#x884c;&#x52a8;&#x5747;&#x5e94;&#x7531;&#x51fa;&#x5e2d;&#x4f1a;&#x8bae;&#x7684;&#x8fc7;&#x534a;&#x6570;&#x6210;&#x5458;&#x4f5c;&#x51fa;&#x3002;&#x4efb;&#x4f55;&#x884c;&#x52a8;&#x90fd;&#x53ef;&#x4ee5;&#x901a;&#x8fc7;&#x6240;&#x6709;&#x6210;&#x5458;&#x7b7e;&#x7f72;&#x7684;&#x4e66;&#x9762;&#x6587;&#x4ef6;&#x8fdb;&#x884c;&#xff0c;&#x8fd9;&#x6837;&#x91c7;&#x53d6;&#x7684;&#x4efb;&#x4f55;&#x884c;&#x52a8;&#x90fd;&#x5e94;&#x50cf;&#x5728;&#x4f1a;&#x8bae;&#x4e0a;&#x91c7;&#x53d6;&#x7684;&#x90a3;&#x6837;&#x5b8c;&#x5168;&#x6709;&#x6548;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">15.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Issuance of Company Stock</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The Company shall not be required to issue or deliver any certificate for shares of Company Stock before (a)&#x00a0;the admission of such shares to listing on any stock exchange on which Company Stock may then be listed, (b)&#x00a0;receipt of any required registration or other qualification of such shares under any state or federal securities law or regulation that the Company&#x2019;s counsel shall determine is necessary or advisable, and (c)&#x00a0;the Company shall have been advised by counsel that all applicable legal requirements have been complied with. The Company may place on a certificate representing Company Stock any legend required to reflect restrictions pursuant to the Plan, and any legend deemed necessary by the Company&#x2019;s counsel to comply with federal or state securities laws. The Company may require a customary written indication of a Participant&#x2019;s investment intent. Until a Participant has been issued a certificate for the shares of Company Stock acquired, the Participant shall possess no shareholder rights with respect to the shares.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">15.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x53d1;&#x884c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x5728;&#x4ee5;&#x4e0b;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x516c;&#x53f8;&#x65e0;&#x9700;&#x53d1;&#x884c;&#x6216;&#x4ea4;&#x4ed8;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x4efb;&#x4f55;&#x8bc1;&#x4e66;&#xff1a;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x8be5;&#x7b49;&#x80a1;&#x7968;&#x83b7;&#x51c6;&#x5728;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5f53;&#x65f6;&#x53ef;&#x80fd;&#x4e0a;&#x5e02;&#x7684;&#x4efb;&#x4f55;&#x8bc1;&#x5238;&#x4ea4;&#x6613;&#x6240;&#x4e0a;&#x5e02;&#xff1b;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6839;&#x636e;&#x4efb;&#x4f55;&#x5dde;&#x6216;&#x8054;&#x90a6;&#x8bc1;&#x5238;&#x6cd5;&#x5f8b;&#x6216;&#x6cd5;&#x89c4;&#x6536;&#x5230;&#x8be5;&#x7b49;&#x80a1;&#x7968;&#x7684;&#x4efb;&#x4f55;&#x5fc5;&#x8981;&#x767b;&#x8bb0;&#x6216;&#x5176;&#x4ed6;&#x8d44;&#x683c;&#xff0c;&#x800c;&#x516c;&#x53f8;&#x7684;&#x5f8b;&#x5e08;&#x8ba4;&#x4e3a;&#x8fd9;&#x662f;&#x5fc5;&#x8981;&#x6216;&#x53ef;&#x53d6;&#x7684;&#xff1b;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x516c;&#x53f8;&#x5df2;&#x88ab;&#x5f8b;&#x5e08;&#x544a;&#x77e5;&#x6240;&#x6709;&#x9002;&#x7528;&#x7684;&#x6cd5;&#x5f8b;&#x8981;&#x6c42;&#x90fd;&#x5df2;&#x5f97;&#x5230;&#x9075;&#x5b88;&#x3002;&#x516c;&#x53f8;&#x53ef;&#x5728;&#x4ee3;&#x8868;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x8bc1;&#x4e66;&#x4e0a;&#x653e;&#x7f6e;&#x53cd;&#x6620;&#x672c;&#x8ba1;&#x5212;&#x6240;&#x89c4;&#x5b9a;&#x9650;&#x5236;&#x7684;&#x4efb;&#x4f55;&#x56fe;&#x4f8b;&#xff0c;&#x4ee5;&#x53ca;&#x516c;&#x53f8;&#x5f8b;&#x5e08;&#x8ba4;&#x4e3a;&#x5bf9;&#x9075;&#x5b88;&#x8054;&#x90a6;&#x6216;&#x5dde;&#x8bc1;&#x5238;&#x6cd5;&#x6709;&#x5fc5;&#x8981;&#x7684;&#x4efb;&#x4f55;&#x56fe;&#x4f8b;&#x3002;&#x516c;&#x53f8;&#x53ef;&#x80fd;&#x4f1a;&#x8981;&#x6c42;&#x53c2;&#x4e0e;&#x8005;&#x6309;&#x60ef;&#x4f8b;&#x4ee5;&#x4e66;&#x9762;&#x5f62;&#x5f0f;&#x8868;&#x660e;&#x5176;&#x6295;&#x8d44;&#x610f;&#x5411;&#x3002;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x83b7;&#x5f97;&#x6240;&#x8d2d;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x8bc1;&#x4e66;&#x4e4b;&#x524d;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x4e0d;&#x62e5;&#x6709;&#x4e0e;&#x80a1;&#x7968;&#x6709;&#x5173;&#x7684;&#x80a1;&#x4e1c;&#x6743;&#x5229;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">16.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Rights Under the Plan</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Title to and beneficial ownership of all benefits described in the Plan shall at all times remain with the Company. Participation in the Plan and the right to receive payments under the Plan shall not give a Participant any proprietary interest in the Company or any Affiliate or any of their assets. No trust fund shall be created in connection with the Plan, and there shall be no required funding of amounts that may become payable under the Plan. A Participant shall, for all purposes, be a general creditor of the Company. The interest of a Participant in the Plan cannot be assigned, anticipated, sold, encumbered or pledged and shall not be subject to the claims of his creditors.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">16.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x672c;&#x8ba1;&#x5212;&#x4e0b;&#x7684;&#x6743;&#x5229;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x4e2d;&#x6240;&#x8ff0;&#x7684;&#x6240;&#x6709;&#x798f;&#x5229;&#x7684;&#x6240;&#x6709;&#x6743;&#x548c;&#x5b9e;&#x76ca;&#x6240;&#x6709;&#x6743;&#x5728;&#x4efb;&#x4f55;&#x65f6;&#x5019;&#x90fd;&#x5c5e;&#x4e8e;&#x516c;&#x53f8;&#x3002;&#x53c2;&#x4e0e;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x83b7;&#x5f97;&#x4ed8;&#x6b3e;&#x7684;&#x6743;&#x5229;&#x4e0d;&#x5e94;&#x7ed9;&#x4e88;&#x53c2;&#x4e0e;&#x8005;&#x5728;&#x672c;&#x516c;&#x53f8;&#x6216;&#x4efb;&#x4f55;&#x5173;&#x8054;&#x516c;&#x53f8;&#x6216;&#x5176;&#x4efb;&#x4f55;&#x8d44;&#x4ea7;&#x4e2d;&#x7684;&#x4efb;&#x4f55;&#x6240;&#x6709;&#x6743;&#x5229;&#x76ca;&#x3002;&#x4e0d;&#x5e94;&#x8bbe;&#x7acb;&#x4e0e;&#x672c;&#x8ba1;&#x5212;&#x6709;&#x5173;&#x7684;&#x4fe1;&#x6258;&#x57fa;&#x91d1;&#xff0c;&#x4e5f;&#x4e0d;&#x5e94;&#x8981;&#x6c42;&#x4e3a;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x53ef;&#x80fd;&#x652f;&#x4ed8;&#x7684;&#x91d1;&#x989d;&#x63d0;&#x4f9b;&#x8d44;&#x91d1;&#x3002;&#x5c31;&#x6240;&#x6709;&#x76ee;&#x7684;&#x800c;&#x8a00;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x5e94;&#x662f;&#x516c;&#x53f8;&#x7684;&#x4e00;&#x822c;&#x503a;&#x6743;&#x4eba;&#x3002;&#x53c2;&#x4e0e;&#x8005;&#x5728;&#x672c;&#x8ba1;&#x5212;&#x4e2d;&#x7684;&#x6743;&#x76ca;&#x4e0d;&#x80fd;&#x88ab;&#x8f6c;&#x8ba9;&#x3001;&#x9884;&#x671f;&#x3001;&#x51fa;&#x552e;&#x3001;&#x62b5;&#x62bc;&#x6216;&#x8d28;&#x62bc;&#xff0c;&#x5e76;&#x4e14;&#x4e0d;&#x5e94;&#x53d7;&#x5230;&#x5176;&#x503a;&#x6743;&#x4eba;&#x7684;&#x7d22;&#x8d54;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">17.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Beneficiary</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A Participant may designate, on a form provided by the Committee, one or more beneficiaries to receive any payments under Awards of Restricted Stock or Options after the Participant&#x2019;s death. If a Participant makes no valid designation, or if the designated beneficiary fails to survive the Participant or otherwise fails to receive the benefits, the Participant&#x2019;s beneficiary shall be the first of the following persons who survives the Participant: (a)&#x00a0;the Participant&#x2019;s surviving spouse, (b)&#x00a0;the Participant&#x2019;s surviving descendants,&#x00a0;</FONT><FONT CLASS="CharOverride-7" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-weight:normal;">per stirpes</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;,</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> or (c)&#x00a0;the personal representative of the Participant&#x2019;s estate.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">17.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x53d7;&#x76ca;&#x4eba;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x53c2;&#x4e0e;&#x8005;&#x53ef;&#x5728;&#x59d4;&#x5458;&#x4f1a;&#x63d0;&#x4f9b;&#x7684;&#x8868;&#x683c;&#x4e0a;&#x6307;&#x5b9a;&#x4e00;&#x540d;&#x6216;&#x591a;&#x540d;&#x53d7;&#x76ca;&#x4eba;&#xff0c;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x6b7b;&#x4ea1;&#x540e;&#x63a5;&#x6536;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x6216;&#x671f;&#x6743;&#x5956;&#x52b1;&#x7684;&#x4efb;&#x4f55;&#x6b3e;&#x9879;&#x3002;&#x5982;&#x679c;&#x53c2;&#x4e0e;&#x8005;&#x6ca1;&#x6709;&#x505a;&#x51fa;&#x6709;&#x6548;&#x7684;&#x6307;&#x5b9a;&#xff0c;&#x6216;&#x8005;&#x6307;&#x5b9a;&#x7684;&#x53d7;&#x76ca;&#x4eba;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x53bb;&#x4e16;&#x540e;&#x672a;&#x80fd;&#x5b58;&#x6d3b;&#xff0c;&#x6216;&#x8005;&#x672a;&#x80fd;&#x83b7;&#x5f97;&#x5229;&#x76ca;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x53d7;&#x76ca;&#x4eba;&#x5e94;&#x662f;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x5b58;&#x6d3b;&#x7684;&#x4e0b;&#x5217;&#x4eba;&#x5458;&#x4e2d;&#x7684;&#x7b2c;&#x4e00;&#x4eba;&#xff1a;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x672a;&#x4ea1;&#x914d;&#x5076;&#xff0c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x672a;&#x4ea1;&#x540e;&#x4ee3;&#xff0c;&#x6216;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x9057;&#x4ea7;&#x4ee3;&#x7406;&#x4eba;&#x3002;</FONT></P>
		</DIV>

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	<DIV CLASS="Basic-Text-Frame" STYLE="margin:0;padding:0;border-width:0;">
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">18.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Notice</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. All notices and other communications required or permitted to be given under this Plan shall be in writing and shall be deemed to have been duly given if delivered personally or mailed first class, postage prepaid, as follows: (a)&#x00a0;if to the Company &#x2014; at its principal business address to the attention of the Secretary; (b)&#x00a0;if to any Participant &#x2014; at the last address of the Participant known to the sender at the time the notice or other communication is sent.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">18.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x901a;&#x77e5;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x8981;&#x6c42;&#x6216;&#x5141;&#x8bb8;&#x53d1;&#x51fa;&#x7684;&#x6240;&#x6709;&#x901a;&#x77e5;&#x548c;&#x5176;&#x4ed6;&#x901a;&#x4fe1;&#x5e94;&#x91c7;&#x7528;&#x4e66;&#x9762;&#x5f62;&#x5f0f;&#xff0c;&#x5982;&#x679c;&#x4eb2;&#x81ea;&#x9001;&#x8fbe;&#x6216;&#x4ee5;&#x5934;&#x7b49;&#x8231;&#x90ae;&#x5bc4;&#xff0c;&#x5e76;&#x9884;&#x4ed8;&#x90ae;&#x8d44;&#xff0c;&#x5219;&#x5e94;&#x89c6;&#x4e3a;&#x5df2;&#x6b63;&#x5f0f;&#x53d1;&#x51fa;&#xff1a;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x662f;&#x7ed9;&#x516c;&#x53f8;&#xff0c;&#x5219;&#x5bc4;&#x5230;&#x516c;&#x53f8;&#x7684;&#x4e3b;&#x8981;&#x8425;&#x4e1a;&#x5730;&#x5740;&#xff0c;&#x7531;&#x79d8;&#x4e66;&#x6536;&#xff1b;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x679c;&#x662f;&#x7ed9;&#x4efb;&#x4f55;&#x53c2;&#x4e0e;&#x8005;&#xff0c;&#x5219;&#x5bc4;&#x5230;&#x5bc4;&#x4ef6;&#x4eba;&#x5728;&#x53d1;&#x9001;&#x901a;&#x77e5;&#x6216;&#x5176;&#x4ed6;&#x901a;&#x4fe1;&#x65f6;&#x5df2;&#x77e5;&#x7684;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x6700;&#x540e;&#x5730;&#x5740;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">19.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Interpretation</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The terms of this Plan and Awards granted pursuant to the Plan are subject to all present and future regulations and rulings of the Secretary of the Treasury relating to the qualification of Incentive Stock Options under the Code, to the extent applicable, and they are subject to all present and future rulings of the Securities and Exchange Commission, to the extent applicable. If any provision of the Plan or an Award conflicts with any such regulation or ruling, to the extent applicable, the Committee shall cause the Plan to be amended, and shall modify the Award, so as to comply, or if for any reason amendments cannot be made, that provision of the Plan and/or the Award shall be void and of no effect.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">19.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x89e3;&#x91ca;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x6761;&#x6b3e;&#x548c;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#xff0c;&#x5728;&#x9002;&#x7528;&#x8303;&#x56f4;&#x5185;&#xff0c;&#x987b;&#x9075;&#x5b88;&#x8d22;&#x653f;&#x90e8;&#x90e8;&#x957f;&#x5173;&#x4e8e;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x8d44;&#x683c;&#x6216;&#x9075;&#x5b88;&#x6cd5;&#x5178;&#x6240;&#x6709;&#x73b0;&#x884c;&#x548c;&#x672a;&#x6765;&#x7684;&#x6cd5;&#x89c4;&#x548c;&#x88c1;&#x51b3;&#xff0c;&#x5e76;&#x4e14;&#x5728;&#x9002;&#x7528;&#x7684;&#x60c5;&#x5f62;&#x4e0b;&#xff0c;&#x987b;&#x9075;&#x5b88;&#x8bc1;&#x5238;&#x4ea4;&#x6613;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x6240;&#x6709;&#x73b0;&#x884c;&#x548c;&#x672a;&#x6765;&#x7684;&#x88c1;&#x51b3;&#x3002;&#x5982;&#x679c;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x4efb;&#x4f55;&#x6761;&#x6b3e;&#x6216;&#x5956;&#x52b1;&#x4e0e;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x6cd5;&#x89c4;&#x6216;&#x88c1;&#x51b3;&#x76f8;&#x51b2;&#x7a81;&#xff0c;&#x5728;&#x9002;&#x7528;&#x7684;&#x8303;&#x56f4;&#x5185;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x4fc3;&#x4f7f;&#x672c;&#x8ba1;&#x5212;&#x5f97;&#x5230;&#x4fee;&#x6b63;&#xff0c;&#x5e76;&#x5e94;&#x4fee;&#x6539;&#x5956;&#x52b1;&#xff0c;&#x4ee5;&#x7b26;&#x5408;&#x89c4;&#x5b9a;&#xff0c;&#x6216;&#x8005;&#x5982;&#x679c;&#x7531;&#x4e8e;&#x4efb;&#x4f55;&#x539f;&#x56e0;&#x4e0d;&#x80fd;&#x8fdb;&#x884c;&#x4fee;&#x6b63;&#xff0c;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x8be5;&#x6761;&#x6b3e;&#x548c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">/</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6216;&#x5956;&#x52b1;&#x5e94;&#x65e0;&#x6548;&#xff0c;&#x6ca1;&#x6709;&#x4efb;&#x4f55;&#x6548;&#x529b;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">20.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="CharOverride-9" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Discretionary Nature of Plan</FONT><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.  The benefits and rights provided under the Plan are wholly discretionary and, although provided by the Company, do not constitute regular or periodic payments.  Unless otherwise required by applicable laws, the benefits and rights provided under the Plan are not to be considered part of a Participant&#x2019;s salary or compensation or for purposes of calculating any severance, resignation, redundancy, or other end of service payments, vacation, bonuses, long-term service awards, indemnification, pension or retirement benefits, or any other payments, benefits or rights of any kind.  By acceptance of an Award, a Participant waives any and all rights to compensation or damages as a result of the termination of employment with the Company or its Affiliates for any reason whatsoever insofar as those rights result or may result from this Plan or any Award.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">20.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x672c;&#x8ba1;&#x5212;&#x7684;&#x914c;&#x60c5;&#x88c1;&#x91cf;&#x6027;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x63d0;&#x4f9b;&#x7684;&#x798f;&#x5229;&#x548c;&#x6743;&#x5229;&#x662f;&#x5177;&#x6709;&#x914c;&#x60c5;&#x88c1;&#x91cf;&#x6027;&#x7684;&#xff0c;&#x5e76;&#x4e14;&#xff0c;&#x867d;&#x7136;&#x8be5;&#x7b49;&#x798f;&#x5229;&#x548c;&#x6743;&#x5229;&#x662f;&#x7531;&#x516c;&#x53f8;&#x63d0;&#x4f9b;&#xff0c;&#x5176;&#x5e76;&#x4e0d;&#x6784;&#x6210;&#x5b9a;&#x671f;&#x4ed8;&#x6b3e;&#x3002;&#x9664;&#x975e;&#x9002;&#x7528;&#x6cd5;&#x5f8b;&#x53e6;&#x6709;&#x89c4;&#x5b9a;&#xff0c;&#x5426;&#x5219;&#x672c;&#x8ba1;&#x5212;&#x63d0;&#x4f9b;&#x7684;&#x798f;&#x5229;&#x548c;&#x6743;&#x5229;&#x4e0d;&#x5f97;&#x89c6;&#x4e3a;&#x53c2;&#x4e0e;&#x8005;&#x5de5;&#x8d44;&#x6216;&#x85aa;&#x916c;&#x7684;&#x4e00;&#x90e8;&#x5206;&#x6216;&#x8005;&#x7528;&#x4e8e;&#x8ba1;&#x7b97;&#x4efb;&#x4f55;&#x9063;&#x6563;&#x8d39;&#x3001;&#x8f9e;&#x804c;&#x3001;&#x88c1;&#x5458;&#x6216;&#x5176;&#x4ed6;&#x670d;&#x52a1;&#x7ec8;&#x6b62;&#x4e0b;&#x7684;&#x4ed8;&#x6b3e;&#x3001;&#x5047;&#x671f;&#x3001;&#x5956;&#x91d1;&#x3001;</FONT><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x957f;&#x671f;&#x670d;&#x52a1;&#x5956;&#x52b1;&#x3001;&#x8d54;&#x507f;&#x3001;&#x517b;&#x8001;&#x91d1;&#x6216;&#x9000;&#x4f11;&#x798f;&#x5229;&#xff0c;&#x6216;&#x4efb;&#x4f55;&#x5176;&#x4ed6;&#x4ed8;&#x6b3e;&#x3001;&#x798f;&#x5229;&#x6216;&#x4efb;&#x4f55;&#x79cd;&#x7c7b;&#x7684;&#x6743;&#x5229;&#x3002;&#x5bf9;&#x4e8e;&#x56e0;&#x7ec8;&#x6b62;&#x4e0e;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x7684;&#x96c7;&#x4f63;&#x5173;&#x7cfb;&#x800c;&#x83b7;&#x5f97;&#x8d54;&#x507f;&#x6216;&#x635f;&#x5bb3;&#x8d54;&#x507f;&#x7684;&#x4efb;&#x4f55;&#x6743;&#x5229;&#xff0c;&#x82e5;&#x8be5;&#x7b49;&#x6743;&#x5229;&#x6765;&#x81ea;&#x6216;&#x53ef;&#x80fd;&#x6765;&#x81ea;&#x672c;&#x8ba1;&#x5212;&#x6216;&#x4efb;&#x4f55;&#x5956;&#x52b1;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x901a;&#x8fc7;&#x63a5;&#x53d7;&#x5956;&#x52b1;&#x653e;&#x5f03;&#x8be5;&#x7b49;&#x6743;&#x5229;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">21. </FONT><FONT CLASS="CharOverride-9" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Choice of Law</FONT><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.  The Plan will be governed by and construed in accordance with the internal laws of the State of New York, without reference to any choice of law principles.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">21.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6cd5;&#x5f8b;&#x9009;&#x62e9;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x5c06;&#x53d7;&#x7ebd;&#x7ea6;&#x5dde;&#x5dde;&#x6cd5;&#x5f8b;&#x7ba1;&#x8f96;&#x5e76;&#x6309;&#x5176;&#x89e3;&#x91ca;&#xff0c;&#x4e0d;&#x63f4;&#x5f15;&#x4efb;&#x4f55;&#x6cd5;&#x5f8b;&#x9009;&#x62e9;&#x539f;&#x5219;&#x3002;</FONT></P>

<P CLASS="ParaOverride-7" STYLE="border-width: 0; padding: 0; margin-top: 0pt; margin-bottom: 0pt; orphans: 2; text-align: center; widows: 2">&nbsp;</P>

<P CLASS="ParaOverride-7" STYLE="border-width: 0; padding: 0; margin-top: 8pt; margin-bottom: 0; orphans: 2; text-align: center; widows: 2">14</P>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>ea174767ex5-1_retoeco.htm
<DESCRIPTION>OPINION OF MOURANT OZANNES REGARDING THE LEGALITY OF THE SECURITIES BEING REGISTERED
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&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: 60%">&nbsp;<IMG SRC="ex5-1_001.jpg" ALT=""></TD>
  <TD STYLE="width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mourant Ozannes</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tortola, British Virgin Islands</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">T +1 284 852 1700</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">F +1 284 852 1799</P>
</TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">c/o Beijing REIT Technology Development
Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">Building X-702, 60 Anli Road, Chaoyang
District</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">Beijing, People&rsquo;s Republic of
China 100101</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">8 March 2023</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">Our ref:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8057358/83191909/5</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ReTo Eco-Solutions, Inc. </B>(the <B>Company</B>)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We have acted as the Company&rsquo;s British
Virgin Islands legal advisers in connection with its registration statement on Form S-8 (the <B>Registration Statement</B>) which has
been filed with the U.S. Securities and Exchange Commission on 8 March 2023 (the <B>SEC</B>) under the U.S. Securities Act of 1933 (as
amended) (the <B>Securities Act</B>).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">We are providing this opinion as Exhibit
5.1 to the Registration Statement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"><FONT STYLE="font-weight: normal">1.</FONT></TD><TD STYLE="text-align: justify">Documents, searches and definitions</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">1.1</TD><TD STYLE="text-align: justify">We have reviewed a copy of each of the following documents for the purposes of this
opinion:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">the Registration Statement (Form S-8);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">the 2022 share incentive plan of the Company approved and adopted by the Director Resolutions (<B>2022 Share
Plan</B>);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">the Company&rsquo;s certificate of incorporation and memorandum and articles of association (the <B>M&amp;A</B>)
obtained from the Company Search (defined below);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(d)</TD><TD STYLE="text-align: justify">a copy of the Company&rsquo;s register of directors dated 8 March 2023 (the <B>Register
of Directors</B>) which was affixed to the Registered Agent&rsquo;s Certificate;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(e)</TD><TD STYLE="text-align: justify">a copy of the Company&rsquo;s shareholder list dated 8 March 2023 (the <B>Register of Members</B>)
that was provided to us by the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(f)</TD><TD STYLE="text-align: justify">the resolutions in writing of the directors of the Company passed on 2 November 2022
(the <B>Director Resolutions</B>);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(g)</TD><TD STYLE="text-align: justify">the resolutions in writing of the directors of the Company passed on 8 March 2023
(the <B>Further Resolutions</B>);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(h)</TD><TD STYLE="text-align: justify">a certificate of the Company&rsquo;s registered agent dated 8 March 2023 (the <B>Registered Agent&rsquo;s Certificate</B>);
and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(i)</TD><TD STYLE="text-align: justify">a certificate of good standing for the Company dated 7 March 2023 (the <B>Certificate of Good Standing</B>)
issued by the Registrar (defined below).</TD></TR></TABLE>

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

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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">Mourant Ozannes is a British Virgin Islands partnership&nbsp;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">1.2</TD><TD STYLE="text-align: justify">We have carried out the following searches (together, the <B>Searches</B>) in relation to the Company:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">a search of the records maintained by the Registrar that were on file and available for public inspection
on 7 March 2023 (the <B>Company Search</B>); and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">a search of the records of proceedings in the BVI Courts (defined below) available for public inspection
contained in the judicial enforcement management system (the electronic register of proceedings) maintained at the registry of the High
Court of Justice of the Virgin Islands (the <B>High Court</B>) on 7 March 2023 (the <B>High Court Search</B>).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">1.3</TD><TD STYLE="text-align: justify">In this opinion:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify"><B>2022 Recipients</B> includes those persons noted in Column (2) of Schedule 1 to the Further Resolutions
(each a <B>2022 Recipient</B>);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify"><B>agreement</B> includes an agreement, deed or other instrument;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify"><B>BVI</B> means the territory of the British Virgin Islands;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(d)</TD><TD STYLE="text-align: justify"><B>BVI Courts</B> means the Eastern Caribbean Supreme Court, Court of Appeal (Virgin Islands) and the
High Court (Civil and Commercial Divisions), and BVI Court means any of them;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(e)</TD><TD STYLE="text-align: justify"><B>Companies Act</B> means the BVI Business Companies Act 2004;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(f)</TD><TD STYLE="text-align: justify"><B>Company Records</B> means the Company&rsquo;s M&amp;A, the certificate of incorporation,
the Register of Directors, the Register of Members, the Certificate of Good Standing and the Registered Agent&rsquo;s Certificate;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(g)</TD><TD STYLE="text-align: justify"><B>Common Shares </B>means ordinary shares with a par value of US$0.001 in the Company
to be issued to a 2022 Recipient pursuant to the 2022 Plan and <B>Common Share </B>means any of them;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(h)</TD><TD STYLE="text-align: justify"><B>Documents </B>means the Registration Statement and the 2022 Share Plan, and <B>Document
</B>means either of them;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(i)</TD><TD STYLE="text-align: justify"><B>execute</B> and its other grammatical forms mean (unless the context requires otherwise) that a document
has been signed, dated and unconditionally delivered;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(j)</TD><TD STYLE="text-align: justify"><B>Insolvency Act</B> means the Insolvency Act 2003;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(k)</TD><TD STYLE="text-align: justify"><B>non-assessable </B>means, in relation to a Common Share, that the purchase price
for which the Company agreed to issue that Common Share has been paid in full to the Company and that no further sum is payable to the
Company in respect of that Common Share;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(l)</TD><TD STYLE="text-align: justify"><B>Prospectus</B> means the prospectus that forms part of the Registration Statement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(m)</TD><TD STYLE="text-align: justify"><B>Registrar</B> means the Registrar of Corporate Affairs appointed under the Companies Act; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(n)</TD><TD STYLE="text-align: justify"><B>signed</B> means that a document has been duly signed or sealed.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">2.</FONT></TD><TD STYLE="text-align: justify">Assumptions</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify; text-indent: 0.5in">We have assumed
(and have not independently verified) that:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.1</TD><TD STYLE="text-align: justify">each document examined by us:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">whether it is an original or copy, is (along with any date, signature, initial,
stamp or seal on it) genuine and complete, up-to-date and (where applicable) in full force and effect; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">was (where it was executed or filed after we reviewed it) executed or filed in materially
the same form as the last draft of that document examined by us;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.2</TD><TD STYLE="text-align: justify">where we have only been sent a copy of the signed signature pages of any Document, each party to that
Document has unconditionally delivered the entire document (including its signed signature page) in materially the same form as the last
draft of that Document examined by us;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.3</TD><TD STYLE="text-align: justify">in causing the Company to enter into each Document, and to issue the Common Shares,
each director of the Company:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">acted honestly, in good faith and in what the director believed to be the best interests
of the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">exercised the director&rsquo;s powers as a director for a proper purpose; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">exercised the care, diligence and skill that a reasonable director would exercise
in the same circumstances;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.4</TD><TD STYLE="text-align: justify">each director of the Company (and any alternate director) has disclosed to each
other director any interest of that director (or alternate director) in the transactions contemplated by each Document in accordance with
the Company&rsquo;s M&amp;A;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.5</TD><TD STYLE="text-align: justify">each of the Director Resolutions and Further Resolution were duly passed, are in
full force and effect and have not been amended, revoked or superseded and any meeting at which the Director Resolutions or Further Resolution
were passed was duly convened, held and quorate throughout;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.6</TD><TD STYLE="text-align: justify">each document examined by us that has been signed by the Company:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">has been signed by the person(s) authorised by the Company to sign it;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">(where any signatory is a body corporate) it has been signed in accordance with
that body corporate&rsquo;s constitution and then current signing authorities; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">has been dated and unconditionally delivered by the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.7</TD><TD STYLE="text-align: justify">there are no documents or arrangements to which the Company is party or resolutions
of the Company&rsquo;s directors or shareholders that conflict with, or would be breached by, or which prohibit the Company&rsquo;s entry into, or
performance of its obligations under, each Document or the issuance of the Common Shares;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.8</TD><TD STYLE="text-align: justify">when Common Shares are issued, there will be no documents or arrangements to which the Company is party,
or resolutions of the Company&rsquo;s directors or shareholders that conflict with, that issuance of Common Shares;</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">2.9</TD><TD STYLE="text-align: justify">the Company is not insolvent (as defined in the Insolvency Act) and will not become
insolvent as a result of executing, or performing its obligations under, any Document or in connection with the issuance of Common Shares
and no steps have been taken (or will have been taken at the time those Common Shares are issued), or resolutions passed, to appoint a
liquidator of the Company or appoint a receiver in respect of the Company or any of its assets;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.10</TD><TD STYLE="text-align: justify">the Company is not carrying on any <B>financial services business</B> (as defined in the Financial Services
Commission Act 2001);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.11</TD><TD STYLE="text-align: justify">the Company is not, nor is it owned or controlled directly or indirectly by, a state
or sovereign entity;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.12</TD><TD STYLE="text-align: justify">neither the Company nor any of its subsidiaries has an interest in any land in the BVI or in any shares,
debt obligations or other securities of any body corporate which has an interest in land in the BVI;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.13</TD><TD STYLE="text-align: justify">each party to each Document (other than, as a matter of the laws of the British
Virgin Islands, the Company) has:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">the capacity and power;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">taken all necessary action; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">obtained or made all necessary agreements, approvals, authorisations, consents,
filings, licences, registrations and qualifications (whether as a matter of any law or regulation applicable to it or as a matter of any
agreement binding upon it),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 0.5in; text-align: justify; text-indent: 0in">to execute and
perform its obligations under that Document;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.14</TD><TD STYLE="text-align: justify">each Document has been authorised and executed by each party to it (other than,
as a matter of the laws of the British Virgin Islands, the Company);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.15</TD><TD STYLE="text-align: justify">the obligations of each party under each Document are legal, valid, binding and
enforceable under all applicable laws other than the laws of the British Virgin Islands;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.16</TD><TD STYLE="text-align: justify">none of our opinions will be affected by the laws or public policy of any foreign
jurisdiction;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.17</TD><TD STYLE="text-align: justify">the choice of the governing law of each Document was made in good faith;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.18</TD><TD STYLE="text-align: justify">no 2022 Recipient will carry out any of its obligations under any Document in, or from within, the BVI;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.19</TD><TD STYLE="text-align: justify">in relation to the Searches:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">all public records of the Company we have examined are complete and accurate;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">all filings required to be made in relation to the Company with the Registrar have been made and there
was no information which had been filed that did not appear on the records of the Company at the time of the Company Search; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">the information disclosed by the Searches was at the time of each search, and continues to be, accurate
and complete;</TD></TR></TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">2.20</TD><TD STYLE="text-align: justify">the Company Records were and remain at the date of this opinion accurate and complete;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.21</TD><TD STYLE="text-align: justify">no Common Share will be issued for a price which is less than its par value; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">2.22</TD><TD STYLE="text-align: justify">the Common Shares will be unconditionally issued and awarded to the 2022 Recipients in accordance with
the terms of the 2022 Share Plan.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"><FONT STYLE="font-weight: normal">3.</FONT></TD><TD STYLE="text-align: justify">Opinion</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0in">Subject to the assumptions,
observations, qualifications and limitations set out in this opinion, and to matters not disclosed to us, we are of the following opinion.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">3.1</TD><TD STYLE="text-align: justify"><B>Status</B>: the Company is registered under the Companies Act, validly exists under the laws of the
BVI and is of good standing with the Registrar. The Company is of <B>good standing</B> on the date of issue of the Certificate of Good
Standing if it:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">is listed on the register of companies maintained by the Registrar;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">has paid to the Registrar all fees, annual fees and penalties due and payable;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">has, where applicable, filed its annual return (as defined in the Companies Act) in accordance with section
98A of the Companies Act or it is not yet due to file its annual return; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(d)</TD><TD STYLE="text-align: justify">has filed with the Registrar a copy of its register of directors which is complete (to the satisfaction
of the Registrar as to the requisite information relating to each director and is properly filed) or is not yet due to file its register
of directors with the Registrar.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">3.2</TD><TD STYLE="text-align: justify"><B>Issuance of Common Shares</B>:&nbsp;&nbsp;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">the Company has duly authorised the issuance of each Common Share; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">when (i) the terms of the issuance of Common Shares has been duly established in conformity with the M&amp;A,
the Companies Act and the 2022 Plan, (ii) those Common Shares have been issued and delivered as contemplated by the Registration Statement,
the Prospectus (and the relevant prospectus supplement) and the 2022 Plan, (iii) the Company has received the consideration provided for
(and to be credited in respect of) those Common Shares in the Further Resolutions and the 2022 Plan, and (iv) the name of the relevant
shareholder(s) is entered in the Company&rsquo;s register of members, such Common Shares will be validly issued, fully paid and non-assessable.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"><FONT STYLE="font-weight: normal">4.</FONT></TD><TD STYLE="text-align: justify">Qualifications and observations</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">This opinion is subject to the following qualifications
and observations.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">4.1</TD><TD STYLE="text-align: justify">This opinion is subject to all laws relating to bankruptcy, dissolution, insolvency,
re-organisation, liquidation, moratorium, court schemes and other laws and legal procedures of general application affecting or relating
to the rights of creditors.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">4.2</TD><TD STYLE="text-align: justify">Where a director fails, in accordance with the Companies Act, to disclose an interest
in a transaction entered into by a BVI company, the transaction is voidable.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">4.3</TD><TD STYLE="text-align: justify">The BVI Courts may</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">hold that despite any term of an agreement to the contrary:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">(i)</TD><TD STYLE="text-align: justify">any certificate, calculation, determination or designation of any party to the agreement
is not conclusive, final and/or binding;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">any person exercising any discretion, judgment or opinion under the agreement must
act in good faith and in a reasonable manner; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">any power conferred by the agreement on one party to require another party to execute
any documents or do any things the first party requires must be exercised reasonably; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">imply terms (for example, good faith between parties in relation to the performance
of obligations) into an agreement governed by BVI.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">4.4</TD><TD STYLE="text-align: justify">Where a foreign law is expressly selected to govern an agreement:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">matters of procedure upon enforcement of the agreement and assessment or quantification
of damages will be determined by the BVI Courts in accordance with BVI law;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">the proprietary effects of the agreement may be determined by the BVI Courts in accordance
with the domestic law of the place where the relevant property is taken to be located;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">the mode of performance of the agreement may be determined by the BVI Courts in accordance
with the law of the place of performance; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(d)</TD><TD STYLE="text-align: justify">that law may not be applied by the BVI Courts to non-contractual obligations arising
out of the agreement (even if it is expressly selected to do so).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">4.5</TD><TD STYLE="text-align: justify">The BVI Courts may:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">stay or set aside proceedings where:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">(i)</TD><TD STYLE="text-align: justify">there is a more appropriate forum than the BVI where the action should be heard;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">earlier or concurrent proceedings have been commenced outside the BVI; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.75in"></TD><TD STYLE="text-align: justify; width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">there has already been a final and conclusive judgment given on the merits by a foreign
court of competent jurisdiction according to BVI conflicts of laws rules; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">grant injunctions restraining the commencement or continuance of proceedings outside
the BVI.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">4.6</TD><TD STYLE="text-align: justify">The Company Search will not reveal any document which has not been filed with the Registrar or which was
filed but was not registered or did not appear on the Company&rsquo;s file at the time of the Company Search.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">4.7</TD><TD STYLE="text-align: justify">The High Court Search will not reveal (among other things) if there are any:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">proceedings or appointments that have not been filed or that have been filed but have not been recorded
in the High Court&rsquo;s judicial enforcement management system or that have been filed but did not appear on the High Court&rsquo;s judicial enforcement
management system at the time of the High Court Search;</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">proceedings commenced prior to 1&nbsp;January 2000 if no document has been filed since that date;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">proceedings against the Company that have been threatened but not filed;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(d)</TD><TD STYLE="text-align: justify">files that have been sealed pursuant to a court order; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(e)</TD><TD STYLE="text-align: justify">arbitration proceedings in which the Company is a defendant or respondent.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"><FONT STYLE="font-weight: normal">5.</FONT></TD><TD STYLE="text-align: justify">Limitations</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">5.1</TD><TD STYLE="text-align: justify">This opinion is limited to the matters expressly stated in it and it is given solely
in connection with the Registration Statement and each Document.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">5.2</TD><TD STYLE="text-align: justify">For the purposes of this opinion, we have only examined the documents listed in
paragraph&nbsp;1.1 above and carried out the Searches. We have not examined any term or document incorporated by reference, or otherwise
referred to, whether in whole or part, in any Document and we offer no opinion on any such term or document.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">5.3</TD><TD STYLE="text-align: justify">We offer no opinion:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">on whether the commercial terms of any Document reflect or achieve the intentions
of the parties (unless otherwise expressly stated in this opinion);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">on any factual statement, representation or warranty made or given in any Document
unless otherwise expressly stated in this opinion;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(c)</TD><TD STYLE="text-align: justify">as to whether the parties to any Document will be able to perform their obligations
under it; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 38pt 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(d)</TD><TD STYLE="text-align: justify">as to the title or interest of any party to or in, or the existence or value of,
any property or collateral the subject of any Document.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">5.4</TD><TD STYLE="text-align: justify">We have made no investigation of, and express no opinion with respect to, the laws
of any jurisdiction other than the BVI or the effect of any Document under those laws. In particular, we express no opinion as to the
meaning or effect of any foreign statutes referred to in any Document.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">5.5</TD><TD STYLE="text-align: justify">We assume no obligation to advise the Company (or any person we give consent to
rely on this opinion) in relation to changes of fact or law that may have a bearing on the continuing accuracy of this opinion.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">6.</FONT></TD><TD STYLE="text-align: justify">Governing law</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0in">This opinion, and any non-contractual
obligations arising out of it, are governed by, and to be interpreted in accordance with, BVI laws in force on the date of this opinion.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"><FONT STYLE="font-weight: normal">7.</FONT></TD><TD STYLE="text-align: justify">Consent</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in">7.1</TD><TD STYLE="text-align: justify">This opinion is addressed to the Company in connection with each Document.</TD></TR></TABLE>

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

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<TD STYLE="text-align: justify; width: 0.5in">7.2</TD><TD STYLE="text-align: justify">We consent to:</TD></TR></TABLE>

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<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(a)</TD><TD STYLE="text-align: justify">the filing of a copy of this opinion as Exhibit 5.1 to the Registration Statement;
and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in">(b)</TD><TD STYLE="text-align: justify">reference to us being made in the sections of the Prospectus under the headings
<I>Legal Matters</I>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0in">In giving this consent,
we do not admit that we are included in the category of persons whose consent is required under section 7 of the Securities Act or the
rules and regulations promulgated by the SEC under the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">Yours faithfully</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">/s/ Mourant Ozannes</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 0.5in 0pt 0; text-align: justify"><B>Mourant Ozannes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&nbsp;</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-top: 0pt; margin-bottom: 0pt; text-align: center">8</P>

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

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

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>ea174767ex23-1_retoeco.htm
<DESCRIPTION>CONSENT OF YCM CPA INC
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: right; text-indent: -0.25in; background-color: white"><B>Exhibit
23.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in; background-color: white"><IMG SRC="ex23-1_001.jpg" ALT="">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the inclusion in this Registration
Statement on Form S-8 of ReTo Eco-Solutions, Inc. of our report dated May 2, 2022, with respect to the consolidated balance sheet of ReTo
Eco-Solutions, Inc., and its subsidiaries as of December 31, 2021, and the related consolidated statements of income and comprehensive
income, changes in equity and cash flows for the year ended December 31, 2021. Our report contains an explanatory paragraph regarding
the Company&rsquo;s ability to continue as a going concern. We also consent to the reference to our firm under the heading &ldquo;Experts&rdquo;
in the Registration Statement.</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">/s/ YCM CPA, Inc.</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"><FONT STYLE="background-color: white">PCAOB ID
6781</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">March 08, 2023</P>

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

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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>5
<FILENAME>ea174767ex-fee_retoeco.htm
<DESCRIPTION>FILING FEE TABLE
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 107</B></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: center"><B>Calculation of Filing Fee Tables</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><U>Form S-8</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Form Type)</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><U>RETO ECO-SOLUTIONS, INC.</U></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>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Security<BR> Type</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Security<BR> Class Title</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fee<BR> Calculation<BR> Rule</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount<BR> Registered</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed<BR>
Maximum<BR> Offering Price<BR> Per&nbsp;Share&nbsp;<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Maximum<BR> Aggregate<BR> Offering Price</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fee Rate</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount of<BR> Registration<BR> Fee</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; width: 5%; vertical-align: top">Equity</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 40%; vertical-align: top">Common Shares, $0.001 par value per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; width: 13%; vertical-align: top">457(c) and 457(h)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,169,944 <SUP></SUP></FONT></TD><TD STYLE="width: 1%; text-align: left"><SUP>(2)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">0.41375</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">2,966,564</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; text-align: right">0.00011020</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">326.92</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="8" STYLE="font-weight: bold; text-align: center">Total Offering Amounts</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,966,564</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">326.92</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="8" STYLE="font-weight: bold; text-align: center">Total Fees Previously Paid</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="8" STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Total Fee Offsets</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="8" STYLE="padding-bottom: 4pt; font-weight: bold; text-align: center">Net Fee Due</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">326.92</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</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"><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">This
estimate is made pursuant to Rule 457(c) and Rule 457(h) of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;)
solely for purposes of calculating the registration fee. The Proposed Maximum Offering Price Per Share is the average of the high price
($0.4398) and low price ($0.3877) for the Registrant&rsquo;s Common Share as reported on the Nasdaq Capital Market on March 2, 2023,
which date is within five business days prior to filing this Registration Statement.</FONT></TD>
</TR></TABLE>

<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"><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">Pursuant
to Rule 416(a) under the Securities Act, this Registration Statement shall cover Registrant&rsquo;s additional Common Shares that become
issuable under the ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan by reason of any share dividend, share split, recapitalization
or similar transaction effected without the Registrant&rsquo;s receipt of consideration which would increase the number of outstanding
Common Shares.</FONT></TD>
</TR></TABLE>


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<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>ex5-1_001.jpg
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
