Exhibit 10.8


 


CONTRIBUTION AND SUBSCRIPTION AGREEMENT


 


This CONTRIBUTION AND SUBSCRIPTION AGREEMENT (this
 “Agreement”), dated as of [●], 2022, is entered into by and between Intel Overseas Funding Corporation, a Delaware
corporation (“Parent”), Mobileye Global Inc., a Delaware corporation (“Subsidiary”), and Cyclops
Holdings Corporation, a Delaware corporation (the “Contributed Company”).


 


WHEREAS, Subsidiary is a direct, wholly owned subsidiary
of Parent;


 


WHEREAS, Parent directly owns one hundred percent
(100%) of the equity interests (collectively, the “Cyclops Shares”) in the Contributed Company;


 


WHEREAS, the Contributed Company and Parent are
currently parties to a Loan Agreement dated April 21, 2022 (a copy of which is attached hereto as Exhibit A) (the “Loan
Agreement”), pursuant to which the Contributed Company is indebted to Parent;


 


WHEREAS, Parent and Subsidiary desire to enter
into this Agreement in order for (i) Parent to contribute, and Subsidiary to receive, all of Parent’s right, title and interest
in, to and under the Cyclops Shares, and (ii) Parent to contribute, and Subsidiary to receive, Parent’s rights and obligations with
respect to US $[●] of the principal (the “Contributed Amount”), together with accrued interest thereon, owing
from the Contributed Company pursuant to the Loan Agreement, each in the form of a contribution on existing capital; and


 


WHEREAS, the parties hereto intend, for U.S. federal
income tax purposes, for the Contribution (defined below) to be treated as an exchange within the meaning of Section 351(a) of the Internal
Revenue Code of 1986, as amended (the “Code”), and the regulations promulgated thereunder, subject to the application
of Section 357 of the Code (the “Intended Tax Treatment”).


 


NOW, THEREFORE, in consideration of the foregoing
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:


 


ARTICLE
I


 


CONTRIBUTION and Issuance


 


Section 1.01       
Contribution. Upon the terms and subject to the conditions of this Agreement, (i) Parent hereby conveys, assigns,
transfers and delivers to Subsidiary all of Parent’s right, title and interest in, to and under the Cyclops Shares, effective as
of the date hereof, such that the Contributed Company becomes a direct, wholly owned subsidiary of Subsidiary, and (ii) Parent hereby
conveys, assigns, transfers and delivers to Subsidiary all of Parent’s rights and obligations under the Loan Agreement with respect
to the Contributed Amount and accrued interest thereon, effective as of the date hereof, collectively as a contribution on existing capital
in exchange for the Subsidiary Shares (as defined below) (the “Contribution”). The conveyance, assignment, transfer
and delivery of the Cyclops Shares shall be effected by delivery of any additional documents that are necessary to transfer the Cyclops
Shares to Subsidiary.


 


Section 1.02       
Acceptance. Subsidiary does hereby irrevocably accept the conveyance, assignment, transfer and delivery of all of
Parent’s right, title and interest in, to and under the Cyclops Shares from Parent and all of Parent’s rights and obligations
under the Loan Agreement with respect to the Contributed Amount and accrued interest thereon.


 


Section 1.03       
Issuance of Subsidiary Shares. As consideration for the contribution set forth in Section 1.01, Subsidiary
hereby issues and delivers, or causes to be issued and delivered, and Parent hereby accepts from Subsidiary such issuance and delivery
of, [●] shares of Class B Common Stock, par value $0.01 per share, of Subsidiary (“Subsidiary Shares”), free
and clear of all liens.


 






     


     


    

 


Section 1.04       
Impact on Loan Agreement. By reason of the Contribution, Parent, Subsidiary and the Contributed Company acknowledge
and agree that Parent shall retain its rights and obligations with respect to US $[●] of principal, together with accrued
interest thereon, under the Loan Agreement, and shall continue to be treated as the Lender (as defined in the Loan Agreement) with respect
thereto, and Subsidiary shall be treated as the Lender with respect to the Contributed Amount and accrued interest thereon (and Parent
shall have no rights or obligations under the Loan Agreement with respect to the Contributed Amount). Except as set forth above, the Loan
Agreement shall continue in full force and effect. The Contributed Company hereby acknowledges and agrees that it will make all payments
in respect of the Contributed Amount and accrued interest thereon to the bank account(s) designated by Subsidiary.


 


ARTICLE
II


 


Representation and Warranties


 


Section 2.01       
Representations and Warranties of Parent.


 


(a)          
Organization; Authorization. Parent is a corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware, with full corporate power and authority to execute and deliver this Agreement and to perform its obligations
hereunder. This Agreement has been duly and validly authorized by all necessary company action and has been duly and validly executed
and delivered by Parent and constitutes the valid and binding obligation of Parent, enforceable against it in accordance with its terms.


 


(b)          
Non-Contravention. Except for applicable filings under federal and state securities laws, the execution and delivery of
this Agreement by Parent and the consummation of the transactions contemplated hereby or thereby do not require Parent to file any notice,
report or other filing with, or to obtain any consent, registration, approval, permit or authorization of or from, any governmental or
regulatory authority of the United States, any State thereof or any foreign jurisdiction, and do not constitute a breach or violation
of, or a default under, any provision of any mortgage, lien, lease, agreement, license, instrument, law, regulation, order, arbitration,
award, judgment or decree to which Parent is a party or by which its property is bound, in any such case which could prevent, materially
delay or materially burden the transactions contemplated by this Agreement.


 


(c)          
Title to Cyclops Shares. Parent represents and warrants that it owns, beneficially and of record, and has valid title to,
and the right to transfer to Subsidiary, all of the Cyclops Shares, free and clear of all liens, and Subsidiary shall acquire, and have
valid title to, the Cyclops Shares, free and clear of all liens. No person has any written or oral agreement, arrangement or understanding
or option for, or any right or privilege (whether by law, preemption or contract) that is or is capable of becoming an agreement, arrangement
or understanding or option for, the purchase or acquisition from Parent of any of the Cyclops Shares.


 


Section 2.02       
Representations and Warranties of Subsidiary.


 


(a)           Organization;
Authorization. Subsidiary is a corporation duly organized, validly existing and in good standing under the laws of the State of
Delaware, with full corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder.
This Agreement has been duly and validly authorized by all necessary company action and has been duly and validly executed and
delivered by Subsidiary and constitutes the valid and binding obligation of Subsidiary, enforceable against it in accordance with
its terms.


 






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(b)          
Non-Contravention. Except for applicable filings under federal and state securities laws, the execution and delivery of
this Agreement by Subsidiary and the consummation of the transactions contemplated hereby or thereby do not require Subsidiary to file
any notice, report or other filing with, or to obtain any consent, registration, approval, permit or authorization of or from, any governmental
or regulatory authority of the United States, any State thereof or any foreign jurisdiction, and do not constitute a breach or violation
of, or a default under, any provision of any mortgage, lien, lease, agreement, license, instrument, law, regulation, order, arbitration,
award, judgment or decree to which Subsidiary is a party or by which its property is bound, in any such case which could prevent, materially
delay or materially burden the transactions contemplated by this Agreement.


 


(c)          
Issuance of Subsidiary Shares. Upon issuance of the Subsidiary Shares to Parent, such Subsidiary Shares will represent duly
authorized, validly issued, fully paid and non-assessable shares of Class B Common Stock of Subsidiary and Parent shall be the record
owner of such Subsidiary Shares.


 


ARTICLE
III


 


FURTHER ASSURANCES


 


Section 3.01       
Each of the parties hereto shall execute and deliver such additional documents, instruments, conveyances and assurances,
and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated
by this Agreement.


 


ARTICLE
IV


 


MISCELLANEOUS


 


Section 4.01       
Entire Agreement. This Agreement constitutes the sole and entire agreement of the parties hereto with respect to
the subject matter contained herein, and supersedes all prior and contemporaneous understandings, representations and warranties and agreements,
both written and oral, with respect to such subject matter.


 


Section 4.02       
Tax Treatment. The parties hereto agree to file any tax returns and shall otherwise take all tax and financial reporting
positions in a manner consistent with and actions necessary to obtain the Intended Tax Treatment, unless otherwise required by a final
determination within the meaning of Section 1313 of the Code (or any comparable provisions of state, local or non-U.S. law).


 


Section 4.03       
Severability; Amendment and Waiver.


 


(a)           Whenever
possible, each provision or portion of any provision of this Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or
unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability
shall not affect any other provision or portion of any provision in such jurisdiction, and this Agreement shall be reformed,
construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision or portion of any provision had
never been contained herein.


 






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(b)          
This Agreement may be amended, and the terms hereof may be waived, only by a written instrument signed by each of the parties hereto
or, in the case of a waiver, by the party hereto waiving compliance.


 


(c)          
No delay on the part of any party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof,
nor shall any waiver on the part of any party hereto of any right, power or privilege, nor any single or partial exercise of any such
right, power or privilege, preclude any further exercise thereof or the exercise of any other such right, power or privilege.


 


Section 4.04       
No Third Party Beneficiaries. This Agreement is solely for the benefit of the parties hereto, and no provision of
this Agreement shall be deemed to confer upon any third party any remedy, claim, liability, reimbursement, cause of action or other right.


 


Section 4.05       
Assignment. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be
assigned, in whole or in part, by operation of law or otherwise by any of the parties hereto without the prior written consent of the
other party, and any such assignment that is not consented to shall be null and void.


 


Section 4.06       
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns.


 


Section 4.07       
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware,
without giving effect to the conflict of law principles thereof.


 


Section 4.08       
Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE
TO A TRIAL BY JURY IN RESPECT OF ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
BY THIS AGREEMENT.


 


Section 4.09       
Counterparts. This Agreement may be executed in two or more counterparts (which may be delivered by facsimile or
similar electronic transmission). Each counterpart when so executed and delivered shall be deemed an original, and all such counterparts
taken together shall constitute one and the same instrument.


 


[Signature Page Follows]


 






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IN WITNESS WHEREOF, the parties hereto have
executed this Agreement effective as of the date first written above.


 


	 	Intel Overseas Funding Corporation




 


		By:	



	 	Name:
	 	Title:




 


	 	Mobileye Global Inc.




 





		By:	



	 	Name:
	 	Title:




 


	 	Cyclops Holdings Corporation




 





		By:	



	 	Name:
	 	Title:




 


[Signature Page to Contribution and Subscription Agreement]