# EDGAR Filing Document

**Accession Number:** 0001854445
**File Stem:** 0001493152-23-005278
**Filing Date:** 2023-2
**Character Count:** 44145
**Document Hash:** 17f02e07694871351eafffebe21c848f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-005278.hdr.sgml**: 20230216

**ACCESSION NUMBER**: 0001493152-23-005278

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230215

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230216

**DATE AS OF CHANGE**: 20230216

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Glimpse Group, Inc.
- **CENTRAL INDEX KEY:** 0001854445
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **IRS NUMBER:** 812958271
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40556
- **FILM NUMBER:** 23637290

**BUSINESS ADDRESS:**
- **STREET 1:** 15 WEST 38TH ST, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 917-292-2685

**MAIL ADDRESS:**
- **STREET 1:** 15 WEST 38TH ST, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): February 15, 2023

**THE GLIMPSE GROUP, INC.**

(Exact name of registrant as specified in charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-40556** | **81-2958271** |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |

---

**15 West 38<sup>th</sup> St** **., 12th Fl**

**New York, NY 10018**

(Address of principal executive offices) (Zip Code)

**(917)-292-2685**

(Registrant's telephone number, including area code)

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock | VRAR | The Nasdaq Stock Market LLC<br> (The Nasdaq Capital Market) |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mart if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On February 15, 2023, The Glimpse Group, Inc. (the "Company") awarded stock options (the "Options") to acquire shares of the Company's common stock ("Common Stock"), subject to the terms and conditions of the respective officer's stock options agreement, including: (i) an exercise price equal to $7.00 per share of Common Stock; (ii) expiration of the Options on the Tenth (10) anniversary of the Grant Date; (iii) all Options, Initial and Target (each as defined in the Option Agreements), vest over four (4) years commencing on February 15, 2023; (iv) certain Target Options shall vest to each grantee in fixed amounts, based on achieving revenue targets of $30,000,000, $50,000,000, $75,000,000 and $100,000,000 over consecutive four quarter periods in the aggregate over the next 7 years; (v) certain Target Options shall vest to each grantee in fixed amounts, based on achieving fifteen consecutive closing trading priced equal to or above $20, $30, $45 and $60 per share over the next 7 years. The Options are granted in the following amounts and to the respective officers set forth below:

Lyron Bentovim 1,210,000 <br> Maydan Rothblum 770,000 <br> David John Smith 220,000

The Options were granted as incentive options to Mr. Bentovim, Mr. Rothblum and Mr. Smith as both a retention mechanism and to further drive performance and the Company's growth. The Options were granted pursuant to the Company's 2016 Equity Incentive Plan, as amended, and were each approved by the Company's Compensation Committee and Board of Directors.

The foregoing description of the Option Agreement for each Lyron Bentovim, Maydan Rothblum and David John Smith does not purport to be complete and is qualified in its entirety by reference to the full text of the form of Bentovim Option Agreement, Rothblum Option Agreement and Smith Option Agreement, copies of which are filed hereto as Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3, and incorporated by reference in this Current Report on Form 8-K.

**Item 9.01** **Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Bentovim Option Agreement, dated February 15, 2023](ex10-1.htm) |
| 10.2 | [Rothblum Option Agreement, dated February 15, 2023](ex10-2.htm) |
| 10.3 | [Smith Option Agreement, dated February 15, 2023](ex10-3.htm) |
| 104 | Cover Page Interactive Data File - The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 16, 2023

---

| | |
|:---|:---|
| **THE GLIMPSE GROUP, INC.** | **THE GLIMPSE GROUP, INC.** |
| By: | */s/ Lyron Bentovim* |
|  | *Lyron Bentovim* |
|  | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**FORM OF STOCK OPTION AGREEMENT VIII**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **GRANTEE**<br> **NAME** | **NUMBER OF**<br> **OPTIONS**<br> **GRANTED** | **OPTION**<br> **PRICE** | **GRANT**<br> **DATE** | **EXPIRATION**<br> **DATE** |
| &nbsp;&nbsp;Lyron Bentovim | 1210000 | $7.00/share | February 15, 2023 | February 15, 2033 |

---

**STOCK OPTION VESTING SCHEDULE**

---

| | |
|:---|:---|
| **AMOUNT OF OPTIONS**<br> **SHARES EXERCISABLE** | **DATE**<br> **EXERCISABLE** |
| 121,000 ("Initial") | 30,250 on each of:<br> February 15, 2024<br> February 15, 2025<br> February 15, 2026<br> February 15, 2027 |
| 1,089,000 ("Target") | As per the Targets below: |
|  | <u>Company Revenue Targets:</u> |
|  | 136,125 (12.5% of 1,210,000) at $30,000,000 |
|  | 136,125 (12.5% of 1,210,000) at $50,000,000 |
|  | 136,125 (12.5% of 1,210,000) at $75,000,000 |
|  | 136,125 (12.5% of 1,210,000) at $100,000,000 |
|  | <u>Company Stock Price Targets:</u> |
|  | 136,125 (12.5% of 1,210,000) at $20/share |
|  | 136,125 (12.5% of 1,210,000) at $30/share |
|  | 136,125 (12.5% of 1,210,000) at $45/share |
|  | 136,125 (12.5% of 1,210,000) at $60/share |

---

*<u>Footnotes:</u>*

 

● Revenue targets will be based on a rolling 4 quarters of the Company's audited/reviewed GAAP revenues.

● Company Stock Price targets are subject to a target being at or above the closing price of the Company's stock during 15 consecutive trading days; Stock Price targets shall be proportionately adjusted in the event of reverse stock splits and the like.

● All Options (Initial and Target) vest over four (4) years commencing on February 15, 2023 as detailed above, in addition to certain Revenue and Stock Price targets being met. For example, if a first target is met in 2 years, then 50% of the options related to that target shall vest and the remaining 50% shall vest over two years in two equal annual installments (even if the previously achieved target is not sustained afterwards).

● Any Initial unvested amounts shall fully accelerate upon a change of control in the Company or the Option Holder being terminated from employment without Cause.

● Any Target unvested amounts on achieved targets shall fully accelerate upon the Option Holder being terminated from employment without Cause.

● Target milestones, whether unvested or not achieved, shall fully accelerate upon a change of control of the Company.

● Vesting (Initial and Target) is subject to Option Holder being engaged by the Company as an Employee or Consultant at time of a vesting event.

● Target based vesting must occur prior to February 15, 2030, after which date any related unvested stock options shall expire.

THE GLIMPSE GROUP, INC., a Nevada corporation (the "Company"), hereby grants to Lyron Bentovim the "Grantee", also referred to as "you", an option to purchase (the "Option") shares of the common stock of the Company at an option price as set forth above, pursuant to the terms of the attached Stock Option Agreement and THE GLIMPSE GROUP, INC. 2016 Incentive Plan (the "Plan") as amended.

***By signing this cover sheet, you hereby accept the Options and agree to all of the terms and conditions described in the attached Stock Option Agreement and the Plan.***

---

| | |
|:---|:---|
| Grantee: | /s/ Lyron Bentovim |
|  | Lyron Bentovim<br> Address:<br>Email:<br> Phone:<br> SSN:<br> Date of Birth: |
| Company: | <br> /s/ Maydan Rothblum |
|  | Maydan Rothblum, CFO & COO<br> The Glimpse Group, Inc. |

---

***This is not a stock certificate or a negotiable instrument. This grant of Option is a***

***voluntary, revocable grant from the Company and Grantee hereby acknowledges that the***

***Company has no obligation to make additional grants in the future.***

**UPON RECEIPT OF YOUR SIGNED AGREEMENT, A BOOKKEEPING ENTRY**

**WILL BE ENTERED INTO THE COMPANY'S BOOKS AND RECORDS**

**TO EVIDENCE THE OPTIONS GRANTED TO YOU.**

*\* This Agreement, while named "VIII", is actually the Grantee's seventh Option Agreement*

**THE GLIMPSE GROUP, INC.**

**STOCK OPTION AGREEMENT**

1. <u>Nontransferability</u>.
 This Stock Option Agreement (this "Agreement") evidences the grant to you on
 the Grant Date set forth on the cover page of an option under THE GLIMPSE GROUP, INC.
 2016 Incentive Plan (the "Plan") as amended
 to purchase shares of the common stock of the Company (the "Option"). Under applicable
 provisions of the Internal Revenue Code of 1986, as amended, the Option is treated as an
 incentive option. Capitalized terms that are not defined on the cover page or in the Option
 Agreement are defined in the Plan. Your Option Agreement may not be transferred, assigned,
 pledged or hypothecated, whether by operation of law or otherwise, nor may the Option be
 made subject to execution, attachment or similar process.

2. <u>The Plan</u>. The Option is issued in accordance with and is subject to and conditioned upon
 all of the terms and conditions of this Agreement and the Plan as amended from time to time;
 provided, however, that no future amendment or termination of the Plan shall, without your
 consent, alter or impair any of your rights or obligations under the Plan, all of which are
 incorporated by reference in this Agreement as if fully set forth herein.

3. <u>Termination</u>.
 To the extent not vested as of the date of your Termination of Service, the Option shall
 terminate immediately if you incur a Termination of Service. Notwithstanding the previous
 sentence, you may exercise the Option to the extent exercisable at the time of such termination,
 at any time prior to the expiration of three months after such termination, or for any longer
 period of time after such termination as shall be determined by the Committee, but not later
 than the Expiration Date. Should you die during your employment or service or following your
 Termination of Service, the Option shall immediately terminate, except that, to the extent
 exercisable by you at the time of your death, the Option may be exercised within one year
 after the date of your death but not later than the Expiration Date, solely in accordance
 with all of the terms and conditions of the Plan by your personal representatives or by the
 person or persons to whom your rights under the Option shall pass by will or by the applicable
 laws of descent and distribution.

4. <u>Additional Forfeiture</u>.
 The Committee may cancel, suspend, withhold or otherwise limit or restrict the Option at
 any time if you (i) are not in compliance with all applicable provisions of this Agreement
 or the Plan or (ii) engage in any activity inimical, contrary or harmful to the interests
 of the Company, including, but not limited to: (A) conduct related to your service or employment
 for which either criminal or civil penalties against you may be sought (B) violation of any
 policies of the Company, including, without limitation, insider trading or anti-harassment
 policies or (C) participating in a hostile takeover attempt against the Company.

5. <u>Employment Not Affected</u>. Neither the grant of the Option, nor any other action taken with respect
 to the Option, shall confer upon the Grantee any right to continue in the employ or service
 of the Company or shall interfere in any way with the right of the Company to terminate Grantee's
 employment or service at any time. Except as may be otherwise limited by another written
 agreement, the right of the Company to terminate at will the Grantee's employment with
 it at any time (whether by dismissal, discharge, retirement or otherwise) is specifically
 reserved.

6. <u>No Stockholder Rights</u>. Neither the Grantee, nor any
 person entitled to exercise the Grantee's rights in the event of the Grantee's
 death, shall have any of the rights and privileges of a holder of the Company's common
 stock subject to this Agreement.

7. <u>Securities Laws</u>. The Company shall not be obligated to issue any Common Stock pursuant to this Agreement
 if, in the opinion of counsel to the Company, the shares to be so issued are required to
 be registered or otherwise qualified under the United States Securities Act of 1933, as amended,
 or under any other applicable statute, regulation or ordinance affecting the sale of securities,
 unless and until such shares have been so registered or otherwise qualified.

8. <u>Severability</u>.
 Should a court of competent jurisdiction deem any of the provisions in this Agreement to
 be unenforceable in any respect, it is the intention of the parties to this Agreement that
 this Agreement be deemed, without further action on the part of the parties hereto, modified,
 amended and limited to the extent necessary to render the same valid and enforceable. It
 is further the parties' intent that all provisions not deemed to be overbroad shall
 be given their full force and effect. You acknowledge that you are freely, knowingly and
 voluntarily entering into this Agreement after having an opportunity for consultation with
 your own independent counsel.

9. <u>Choice of Law and Jurisdiction</u>. This Agreement shall be governed by and construed and interpreted
 in accordance with the substantive laws of the State of New York, irrespective of the choice
 of law rules of any jurisdiction. Any dispute shall be brought before the state and federal
 courts located in New York City, New York, and each party waives any objection which such
 party may now or hereafter have to the laying of the venue of any such action, suit or proceeding,
 and irrevocably submits to the jurisdiction of any such court in any such action, suit or
 proceeding.

10. <u>WAIVER OF JURY TRIAL</u>. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
 LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
 ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN (WHETHER
 BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
 AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
 PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)
 ACKNOWLEDGES THAT IT AND THE OTHER PARTY HERETO HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT
 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.

11. <u>Income Taxes</u>. You agree to comply with the appropriate procedures established by the Company,
 from time to time, to provide for payment or withholding of such income or other taxes as
 may be required by law to be paid or withheld in connection with the Option or the shares
 of common stock issuable in connection therewith.

12. <u>Expiration</u>.
 This Option, to the extent not previously exercised, shall expire on the Tenth (10) anniversary
 of the Grant Date.

13. <u>Exercise</u>.
 This Option is to be exercised by delivering to the Company a written notice of exercise
 in the form attached hereto as <u>Exhibit A</u> together with payment as provided in the
 Plan.

**<u>EXHIBIT A</u>**

**<u>STOCK OPTION EXERCISE NOTICE</u>**

Dated: ______________________

To: THE GLIMPSE GROUP, INC.

Attn: [_______________]

Sir/Madam:

Notice is hereby given of my election to purchase <u>____</u> shares of common stock of THE GLIMPSE GROUP, INC. (the "Company") at a price of $7.00/share per share under the provisions of the stock option ("Option") granted to me on February 15, 2023 under the terms of THE GLIMPSE GROUP, INC. 2016 Incentive Plan as amended.

I hereby certify that I am in compliance with the covenants and forfeiture provisions of the Option Agreement VIII dated as of February 15, 2023 between the Company and me (the "Option Agreement"). I acknowledge that a violation of these provisions will result in the forfeiture of any remaining options that I have.

Cash Method or Cashless Exercise Method:

Cash: Enclosed is my check made payable to the Company in the amount of $_________________ in payment of the exercise price of the Option and my check in the amount of $________________ made payable to _____________________________ in payment of the tax due on exercise of the Option.

Cashless: I will contact my broker from ______________________________ who will be verifying my options and arranging to exercise and/or sell my option shares.

The following information is supplied for use in issuing and registering the shares purchased:

---

| |
|:---|
| Number of Shares: |
| Full Name: |
| Address: |
| Signature: |

---

## Exhibit 10.2

**Exhibit 10.2**

**FORM OF STOCK OPTION AGREEMENT V**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **GRANTEE**<br> **NAME** | **NUMBER OF**<br> **OPTIONS**<br> **GRANTED** | **OPTION**<br> **PRICE** | **GRANT**<br> **DATE** | **EXPIRATION**<br> **DATE** |
| Maydan Rothblum | 770000 | $7.00/share | February 15, 2023 | February 15, 2033 |

---

**STOCK OPTION VESTING SCHEDULE**

---

| | |
|:---|:---|
| **AMOUNT OF OPTIONS**<br> **SHARES EXERCISABLE** | **DATE**<br> **EXERCISABLE** |
| 77,000 ("Initial") | 19,250 on each of:<br> February 15, 2024<br> February 15, 2025<br> February 15, 2026<br> February 15, 2027 |
| 693,000 ("Target") | As per the Targets below: |
|  | <u>Company Revenue Targets:</u> |
|  | 86,625 (12.5% of 693,000) at $30,000,000 |
|  | 86,625 (12.5% of 693,000) at $50,000,000 |
|  | 86,625 (12.5% of 693,000) at $75,000,000 |
|  | 86,625 (12.5% of 693,000) at $100,000,000 |
|  | <u>Company Stock Price Targets:</u> |
|  | 86,625 (12.5% of 693,000) at $20/share |
|  | 86,625 (12.5% of 693,000) at $30/share |
|  | 86,625 (12.5% of 693,000) at $45/share |
|  | 86,625 (12.5% of 693,000) at $60/share |

---

*<u>Footnotes:</u>*

 

● Revenue targets will be based on a rolling 4 quarters of the Company's audited/reviewed GAAP revenues.

● Company Stock Price targets are subject to a target being at or above the closing price of the Company's stock during 15 consecutive trading days; Stock Price targets shall be proportionately adjusted in the event of reverse stock splits and the like.

● All Options (Initial and Target) vest over four (4) years commencing on February 15, 2023 as detailed above, in addition to certain Revenue and Stock Price targets being met. For example, if a first target is met in 2 years, then 50% of the options related to that target shall vest and the remaining 50% shall vest over two years in two equal annual installments (even if the previously achieved target is not sustained afterwards).

● Any Initial unvested amounts shall fully accelerate upon a change of control in the Company or the Option Holder being terminated from employment without Cause.

● Any Target unvested amounts on achieved targets shall fully accelerate upon the Option Holder being terminated from employment without Cause.

● Target milestones, whether unvested or not achieved, shall fully accelerate upon a change of control of the Company.

● Vesting (Initial and Target) is subject to Option Holder being engaged by the Company as an Employee or Consultant at time of a vesting event.

● Target based vesting must occur prior to February 15, 2030, after which date any related unvested stock options shall expire.

THE GLIMPSE GROUP, INC., a Nevada corporation (the "Company"), hereby grants to Maydan Rothblum the "Grantee", also referred to as "you", an option to purchase (the "Option") shares of the common stock of the Company at an option price as set forth above, pursuant to the terms of the attached Stock Option Agreement and THE GLIMPSE GROUP, INC. 2016 Incentive Plan (the "Plan") as amended.

***By signing this cover sheet, you hereby accept the Options and agree to all of the terms and conditions described in the attached Stock Option Agreement and the Plan.***

---

| | |
|:---|:---|
| Grantee: | /s/ Maydan Rothblum |
|  | Maydan Rothblum |
|  | Address: |
|  | Email: |
|  | Phone: |
|  | SSN: |
|  | Date of Birth: |
| Company: | /s/ Lyron Bentovim |
|  | Lyron Bentovim, President & CEO |
|  | The Glimpse Group, Inc. |

---

 ****

***This is not a stock certificate or a negotiable instrument. This grant of Option is a***

***voluntary, revocable grant from the Company and Grantee hereby acknowledges that the***

***Company has no obligation to make additional grants in the future.***

**UPON RECEIPT OF YOUR SIGNED AGREEMENT, A BOOKKEEPING ENTRY**

**WILL BE ENTERED INTO THE COMPANY'S BOOKS AND RECORDS**

**TO EVIDENCE THE OPTIONS GRANTED TO YOU.**

**THE GLIMPSE GROUP, INC.**

**STOCK OPTION AGREEMENT**

1. <u>Nontransferability</u>.
 This Stock Option Agreement (this "Agreement") evidences the grant to you on
 the Grant Date set forth on the cover page of an option under THE GLIMPSE GROUP, INC.
 2016 Incentive Plan (the "Plan") as amended
 to purchase shares of the common stock of the Company (the "Option"). Under applicable
 provisions of the Internal Revenue Code of 1986, as amended, the Option is treated as an
 incentive option. Capitalized terms that are not defined on the cover page or in the Option
 Agreement are defined in the Plan. Your Option Agreement may not be transferred, assigned,
 pledged or hypothecated, whether by operation of law or otherwise, nor may the Option be
 made subject to execution, attachment or similar process.

2. <u>The Plan</u>. The Option is issued in accordance with and is subject to and conditioned upon
 all of the terms and conditions of this Agreement and the Plan as amended from time to time;
 provided, however, that no future amendment or termination of the Plan shall, without your
 consent, alter or impair any of your rights or obligations under the Plan, all of which are
 incorporated by reference in this Agreement as if fully set forth herein.

3. <u>Termination</u>.
 To the extent not vested as of the date of your Termination of Service, the Option shall
 terminate immediately if you incur a Termination of Service. Notwithstanding the previous
 sentence, you may exercise the Option to the extent exercisable at the time of such termination,
 at any time prior to the expiration of three months after such termination, or for any longer
 period of time after such termination as shall be determined by the Committee, but not later
 than the Expiration Date. Should you die during your employment or service or following your
 Termination of Service, the Option shall immediately terminate, except that, to the extent
 exercisable by you at the time of your death, the Option may be exercised within one year
 after the date of your death but not later than the Expiration Date, solely in accordance
 with all of the terms and conditions of the Plan by your personal representatives or by the
 person or persons to whom your rights under the Option shall pass by will or by the applicable
 laws of descent and distribution.

4. <u>Additional Forfeiture</u>.
 The Committee may cancel, suspend, withhold or otherwise limit or restrict the Option at
 any time if you (i) are not in compliance with all applicable provisions of this Agreement
 or the Plan or (ii) engage in any activity inimical, contrary or harmful to the interests
 of the Company, including, but not limited to: (A) conduct related to your service or employment
 for which either criminal or civil penalties against you may be sought (B) violation of any
 policies of the Company, including, without limitation, insider trading or anti-harassment
 policies or (C) participating in a hostile takeover attempt against the Company.

5. <u>Employment Not Affected</u>. Neither the grant of the Option, nor any other action taken with respect
 to the Option, shall confer upon the Grantee any right to continue in the employ or service
 of the Company or shall interfere in any way with the right of the Company to terminate Grantee's
 employment or service at any time. Except as may be otherwise limited by another written
 agreement, the right of the Company to terminate at will the Grantee's employment with
 it at any time (whether by dismissal, discharge, retirement or otherwise) is specifically
 reserved.

6. <u>No Stockholder Rights</u>. Neither the Grantee, nor any
 person entitled to exercise the Grantee's rights in the event of the Grantee's
 death, shall have any of the rights and privileges of a holder of the Company's common
 stock subject to this Agreement.

7. <u>Securities Laws</u>. The Company shall not be obligated to issue any Common Stock pursuant to this Agreement
 if, in the opinion of counsel to the Company, the shares to be so issued are required to
 be registered or otherwise qualified under the United States Securities Act of 1933, as amended,
 or under any other applicable statute, regulation or ordinance affecting the sale of securities,
 unless and until such shares have been so registered or otherwise qualified.

8. <u>Severability</u>.
 Should a court of competent jurisdiction deem any of the provisions in this Agreement to
 be unenforceable in any respect, it is the intention of the parties to this Agreement that
 this Agreement be deemed, without further action on the part of the parties hereto, modified,
 amended and limited to the extent necessary to render the same valid and enforceable. It
 is further the parties' intent that all provisions not deemed to be overbroad shall
 be given their full force and effect. You acknowledge that you are freely, knowingly and
 voluntarily entering into this Agreement after having an opportunity for consultation with
 your own independent counsel.

9. <u>Choice of Law and Jurisdiction</u>. This Agreement shall be governed by and construed and interpreted
 in accordance with the substantive laws of the State of New York, irrespective of the choice
 of law rules of any jurisdiction. Any dispute shall be brought before the state and federal
 courts located in New York City, New York, and each party waives any objection which such
 party may now or hereafter have to the laying of the venue of any such action, suit or proceeding,
 and irrevocably submits to the jurisdiction of any such court in any such action, suit or
 proceeding.

10. <u>WAIVER OF JURY TRIAL</u>. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
 LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
 ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN (WHETHER
 BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
 AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
 PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)
 ACKNOWLEDGES THAT IT AND THE OTHER PARTY HERETO HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT
 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.

11. <u>Income Taxes</u>. You agree to comply with the appropriate procedures established by the Company,
 from time to time, to provide for payment or withholding of such income or other taxes as
 may be required by law to be paid or withheld in connection with the Option or the shares
 of common stock issuable in connection therewith.

12. <u>Expiration</u>.
 This Option, to the extent not previously exercised, shall expire on the Tenth (10) anniversary
 of the Grant Date.

13. <u>Exercise</u>.
 This Option is to be exercised by delivering to the Company a written notice of exercise
 in the form attached hereto as <u>Exhibit A</u> together with payment as provided in the
 Plan.

**<u>EXHIBIT A</u>**

**<u>STOCK OPTION EXERCISE NOTICE</u>**

Dated: ______________________

To: THE GLIMPSE GROUP, INC.

Attn: [_______________]

Sir/Madam:

Notice is hereby given of my election to purchase <u>____</u> shares of common stock of THE GLIMPSE GROUP, INC. (the "Company") at a price of $7.00/share per share under the provisions of the stock option ("Option") granted to me on February 15, 2023 under the terms of THE GLIMPSE GROUP, INC. 2016 Incentive Plan as amended.

I hereby certify that I am in compliance with the covenants and forfeiture provisions of the Option Agreement VIII dated as of February 15, 2023 between the Company and me (the "Option Agreement"). I acknowledge that a violation of these provisions will result in the forfeiture of any remaining options that I have.

Cash Method or Cashless Exercise Method:

Cash: Enclosed is my check made payable to the Company in the amount of $_________________ in payment of the exercise price of the Option and my check in the amount of $________________ made payable to _____________________________ in payment of the tax due on exercise of the Option.

Cashless: I will contact my broker from ______________________________ who will be verifying my options and arranging to exercise and/or sell my option shares.

The following information is supplied for use in issuing and registering the shares purchased:

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| |
|:---|
| Number of Shares: |
| Full Name: |
| Address: |
| Signature: |

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## Exhibit 10.3

**Exhibit 10.3**

**FORM OF STOCK OPTION AGREEMENT VIII**

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| | | | | |
|:---|:---|:---|:---|:---|
| **GRANTEE**<br> **NAME** | **NUMBER OF**<br> **OPTIONS**<br> **GRANTED** | **OPTION**<br> **PRICE** | **GRANT**<br> **DATE** | **EXPIRATION**<br> **DATE** |
| DJ Smith | 220000 | $7.00/share | February 15, 2023 | February 15, 2033 |

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**STOCK OPTION VESTING SCHEDULE**

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| | |
|:---|:---|
| **AMOUNT OF OPTIONS**<br> **SHARES EXERCISABLE** | **DATE**<br> **EXERCISABLE** |
| 22,000 ("Initial") | 5,500 on each of:<br> February 15, 2024<br> February 15, 2025<br> February 15, 2026<br> February 15, 2027 |
| 198,000 ("Target") | As per the Targets below: |
|  | <u>Company Revenue Targets:</u><br> 24,750 (12.5% of 198,000) at $30,000,000<br> 24,750 (12.5% of 198,000) at $50,000,000<br> 24,750 (12.5% of 198,000) at $75,000,000<br> 24,750 (12.5% of 198,000) at $100,000,000 |
|  | <u>Company Stock Price Targets:</u><br> 24,750 (12.5% of 198,000) at $20/share<br> 24,750 (12.5% of 198,000) at $30/share<br> 24,750 (12.5% of 198,000) at $45/share<br> 24,750 (12.5% of 198,000) at $60/share |

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*<u>Footnotes:</u>*

 

● Revenue targets will be based on a rolling 4 quarters of the Company's audited/reviewed GAAP revenues.

● Company Stock Price targets are subject to a target being at or above the closing price of the Company's stock during 15 consecutive trading days; Stock Price targets shall be proportionately adjusted in the event of reverse stock splits and the like.

● All Options (Initial and Target) vest over four (4) years commencing on February 15, 2023 as detailed above, in addition to certain Revenue and Stock Price targets being met. For example, if a first target is met in 2 years, then 50% of the options related to that target shall vest and the remaining 50% shall vest over two years in two equal annual installments (even if the previously achieved target is not sustained afterwards).

● Any Initial unvested amounts shall fully accelerate upon a change of control in the Company or the Option Holder being terminated from employment without Cause.

● Any Target unvested amounts on achieved targets shall fully accelerate upon the Option Holder being terminated from employment without Cause.

● Target milestones, whether unvested or not achieved, shall fully accelerate upon a change of control of the Company.

● Vesting (Initial and Target) is subject to Option Holder being engaged by the Company as an Employee or Consultant at time of a vesting event.

● Target based vesting must occur prior to February 15, 2030, after which date any related unvested stock options shall expire.

THE GLIMPSE GROUP, INC., a Nevada corporation (the "Company"), hereby grants to Lyron Bentovim the "Grantee", also referred to as "you", an option to purchase (the "Option") shares of the common stock of the Company at an option price as set forth above, pursuant to the terms of the attached Stock Option Agreement and THE GLIMPSE GROUP, INC. 2016 Incentive Plan (the "Plan") as amended.

***By signing this cover sheet, you hereby accept the Options and agree to all of the terms and conditions described in the attached Stock Option Agreement and the Plan.***

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| | |
|:---|:---|
| Grantee: | /s/ DJ Smith |
|  | DJ Smith<br> Address:<br>Email:<br> Phone:<br> SSN:<br> Date of Birth: |
| Company: | /s/ Maydan Rothblum |
|  | Maydan Rothblum, CFO & COO<br> The Glimpse Group, Inc. |

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 ****

***This is not a stock certificate or a negotiable instrument. This grant of Option is a voluntary, revocable grant from the Company and Grantee hereby acknowledges that the Company has no obligation to make additional grants in the future.***

**UPON RECEIPT OF YOUR SIGNED AGREEMENT, A BOOKKEEPING ENTRY WILL BE ENTERED INTO THE COMPANY'S BOOKS AND RECORDS TO EVIDENCE THE OPTIONS GRANTED TO YOU.**

**THE GLIMPSE GROUP, INC.**

**STOCK OPTION AGREEMENT**

1. <u>Nontransferability</u>.
 This Stock Option Agreement (this "Agreement") evidences the grant to you on the
 Grant Date set forth on the cover page of an option under THE GLIMPSE GROUP, INC. 2016 Incentive Plan (the
 "Plan") as amended to purchase shares of the common stock of the Company (the "Option"). Under applicable
 provisions of the Internal Revenue Code of 1986, as amended, the Option is treated as an incentive option. Capitalized terms that
 are not defined on the cover page or in the Option Agreement are defined in the Plan. Your Option Agreement may not be transferred,
 assigned, pledged or hypothecated, whether by operation of law or otherwise, nor may the Option be made subject to execution, attachment
 or similar process.

2. <u>The Plan</u>. The Option is issued in accordance with and is subject to and conditioned upon all of the terms and conditions of this
 Agreement and the Plan as amended from time to time; provided, however, that no future amendment or termination of the Plan shall,
 without your consent, alter or impair any of your rights or obligations under the Plan, all of which are incorporated by reference
 in this Agreement as if fully set forth herein.

3. <u>Termination</u>.
 To the extent not vested as of the date of your Termination of Service, the Option shall terminate immediately if you incur a Termination
 of Service. Notwithstanding the previous sentence, you may exercise the Option to the extent exercisable at the time of such termination,
 at any time prior to the expiration of three months after such termination, or for any longer period of time after such termination
 as shall be determined by the Committee, but not later than the Expiration Date. Should you die during your employment or service
 or following your Termination of Service, the Option shall immediately terminate, except that, to the extent exercisable by you at
 the time of your death, the Option may be exercised within one year after the date of your death but not later than the Expiration
 Date, solely in accordance with all of the terms and conditions of the Plan by your personal representatives or by the person or
 persons to whom your rights under the Option shall pass by will or by the applicable laws of descent and distribution.

4. <u>Additional Forfeiture</u>. The Committee may cancel, suspend,
 withhold or otherwise limit or restrict the Option at any time if you (i) are not in compliance with all applicable provisions of
 this Agreement or the Plan or (ii) engage in any activity inimical, contrary or harmful to the interests of the Company, including,
 but not limited to: (A) conduct related to your service or employment for which either criminal or civil penalties against you may
 be sought (B) violation of any policies of the Company, including, without limitation, insider trading or anti-harassment policies
 or (C) participating in a hostile takeover attempt against the Company.

5. <u>Employment Not Affected</u>. Neither the grant of the Option, nor any other action taken with respect to the Option, shall confer upon the Grantee
 any right to continue in the employ or service of the Company or shall interfere in any way with the right of the Company to terminate
 Grantee's employment or service at any time. Except as may be otherwise limited by another written agreement, the right of
 the Company to terminate at will the Grantee's employment with it at any time (whether by dismissal, discharge, retirement
 or otherwise) is specifically reserved.

6. <u>No Stockholder Rights</u>. Neither the Grantee, nor any person entitled to exercise the Grantee's
 rights in the event of the Grantee's death, shall have any of the rights and privileges of a holder of the Company's
 common stock subject to this Agreement.

7. <u>Securities Laws</u>. The Company shall not be obligated to issue any Common Stock pursuant to this Agreement if, in the opinion of counsel to
 the Company, the shares to be so issued are required to be registered or otherwise qualified under the United States Securities Act
 of 1933, as amended, or under any other applicable statute, regulation or ordinance affecting the sale of securities, unless and
 until such shares have been so registered or otherwise qualified.

8. <u>Severability</u>.
 Should a court of competent jurisdiction deem any of the provisions in this Agreement to be unenforceable in any respect, it is the
 intention of the parties to this Agreement that this Agreement be deemed, without further action on the part of the parties hereto,
 modified, amended and limited to the extent necessary to render the same valid and enforceable. It is further the parties'
 intent that all provisions not deemed to be overbroad shall be given their full force and effect. You acknowledge that you are freely,
 knowingly and voluntarily entering into this Agreement after having an opportunity for consultation with your own independent counsel.

9. <u>Choice of Law and Jurisdiction</u>. This Agreement shall be governed by and construed and interpreted in accordance with the substantive
 laws of the State of New York, irrespective of the choice of law rules of any jurisdiction. Any dispute shall be brought before the
 state and federal courts located in New York City, New York, and each party waives any objection which such party may now or hereafter
 have to the laying of the venue of any such action, suit or proceeding, and irrevocably submits to the jurisdiction of any such court
 in any such action, suit or proceeding.

10. <u>WAIVER OF JURY TRIAL</u>. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A
 TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
 HEREIN (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY
 OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
 ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HERETO HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT
 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.

11. <u>Income Taxes</u>. You agree to comply with the appropriate procedures established by the Company, from time to time, to provide for payment
 or withholding of such income or other taxes as may be required by law to be paid or withheld in connection with the Option or the
 shares of common stock issuable in connection therewith.

12. <u>Expiration</u>.
 This Option, to the extent not previously exercised, shall expire on the Tenth (10) anniversary of the Grant Date.

13. <u>Exercise</u>.
 This Option is to be exercised by delivering to the Company a written notice of exercise in the form attached hereto as <u>Exhibit A</u> together with payment as provided in the Plan.

**<u>EXHIBIT A</u>**

**<u>STOCK OPTION EXERCISE NOTICE</u>**

Dated: ______________________

To: THE GLIMPSE GROUP, INC.

Attn: [_______________]

Sir/Madam:

Notice is hereby given of my election to purchase <u>____</u> shares of common stock of THE GLIMPSE GROUP, INC. (the "Company") at a price of $7.00/share per share under the provisions of the stock option ("Option") granted to me on February 15, 2023 under the terms of THE GLIMPSE GROUP, INC. 2016 Incentive Plan as amended.

I hereby certify that I am in compliance with the covenants and forfeiture provisions of the Option Agreement VIII dated as of February 15, 2023 between the Company and me (the "Option Agreement"). I acknowledge that a violation of these provisions will result in the forfeiture of any remaining options that I have.

Cash Method or Cashless Exercise Method:

Cash: Enclosed is my check made payable to the Company in the amount of $_________________ in payment of the exercise price of the Option and my check in the amount of $________________ made payable to _____________________________ in payment of the tax due on exercise of the Option.

Cashless: I will contact my broker from ______________________________ who will be verifying my options and arranging to exercise and/or sell my option shares.

The following information is supplied for use in issuing and registering the shares purchased:

---

| |
|:---|
| Number of Shares: |
| Full Name: |
| Address: |
| Signature: |

---