Document:

Exhibit 10.10

 

BRIVO, INC.

 

2015 EQUITY INCENTIVE PLAN

 

1.            Purposes
of the Plan. The purposes of this Plan are:

 

		·	to attract and retain the best available personnel for positions of substantial responsibility,

 

		·	to provide additional incentive to Employees, Directors and Consultants, and

 

		·	to promote the success of the Company’s business.

 

The Plan permits the grant of
Incentive Stock Options, Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock and Restricted Stock Units.

 

2.            Definitions.
As used herein, the following definitions will apply:

 

(a)            “Administrator”
means the Board or any of its Committees as will be administering the Plan, in accordance with Section 4 of the Plan.

 

(b)            “Applicable
Laws” means the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal
and state securities laws, the Code, any stock exchange or quotation system on which the Class A Common Stock is listed or quoted
and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan.

 

(c)            “Award”
means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, or Restricted Stock
Units.

 

(d)            “Award
Agreement” means the written or electronic agreement setting forth the terms and provisions applicable to each Award granted
under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.

 

(e)            “Board”
means the Board of Directors of the Company.

 

(f)            “Change
in Control” means the occurrence of any of the following events:

 

(i)            Change
in Ownership of the Company. A change in the ownership of the Company which occurs on the date that any one person, or more than one
person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by
such Person, constitutes more than 50% of the total voting power of the stock of the Company, except that any change in the ownership
of the stock of the Company as a result of a private financing of the Company that is approved by the Board will not be considered a Change
in Control; or

 

    	 		 

     

    

 

(ii)            Change
in Effective Control of the Company. If the Company has a class of securities registered pursuant to Section 12 of the Exchange
Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during
any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior
to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of
the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or

 

(iii)            Change
in Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a substantial portion of the Company’s
assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the
most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more
than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions.
For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets
being disposed of, determined without regard to any liabilities associated with such assets.

 

For purposes of this Section 2(f),
persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase
or acquisition of stock, or similar business transaction with the Company.

 

Notwithstanding the foregoing,
a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning
of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal
Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time.

 

Further and for the avoidance
of doubt, a transaction will not constitute a Change in Control if: (i) its sole purpose is to change the jurisdiction of the Company’s
incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by
the persons who held the Company’s securities immediately before such transaction.

 

(g)            “Class A
Common Stock” means the Class A Common Stock of the Company.

 

(h)            “Code”
means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will be a reference to any successor
or amended section of the Code.

 

(i)            “Committee”
means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board, or by the compensation committee
of the Board, in accordance with Section 4 hereof.

 

(j)            “Company”
means Brivo, Inc., a Nevada corporation, or any successor thereto.

 

    	 	-2-	 

     

    

 

(k)            “Consultant”
means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to render services to such entity.

 

(l)            “Director”
means a member of the Board.

 

(m)            “Disability”
means total and permanent disability as defined in Code Section 22(e)(3), provided that in the case of Awards other than Incentive
Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform
and non-discriminatory standards adopted by the Administrator from time to time.

 

(n)            “Employee”
means any person, including officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither service
as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company.

 

(o)            “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

(p)            “Exchange
Program” means a program under which (i) outstanding Awards are surrendered or cancelled in exchange for Awards of the
same type (which may have higher or lower exercise prices and different terms), Awards of a different type, and/or cash, (ii) Participants
would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by the Administrator,
and/or (iii) the exercise price of an outstanding Award is reduced or increased. The Administrator will determine the terms and conditions
of any Exchange Program in its sole discretion.

 

(q)            “Fair
Market Value” means, as of any date, the value of Class A Common Stock determined as follows:

 

(i)            If
the Class A Common Stock is listed on any established stock exchange or a national market system, including without limitation the
Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will
be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the
day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable;

 

(ii)            If
the Class A Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market
Value of a Share will be the mean between the high bid and low asked prices for the Class A Common Stock on the day of determination
(or, if no bids and asks were reported on that date, as applicable, on the last trading date such bids and asks were reported), as reported
in The Wall Street Journal or such other source as the Administrator deems reliable; or

 

(iii)            In
the absence of an established market for the Class A Common Stock, the Fair Market Value will be determined in good faith by the
Administrator.

 

    	 	-3-	 

     

    

 

(r)            “Incentive
Stock Option” means an Option that by its terms qualifies and is otherwise intended to qualify as an incentive stock option
within the meaning of Code Section 422 and the regulations promulgated thereunder.

 

(s)            “Nonstatutory
Stock Option” means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option.

 

(t)            “Option”
means a stock option granted pursuant to the Plan.

 

(u)            “Parent”
means a “parent corporation,” whether now or hereafter existing, as defined in Code Section 424(e).

 

(v)            “Participant”
means the holder of an outstanding Award.

 

(w)            “Period
of Restriction” means the period during which the transfer of Shares of Restricted Stock are subject to restrictions and therefore,
the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of
target levels of performance, or the occurrence of other events as determined by the Administrator.

 

(x)            “Plan”
means this 2015 Equity Incentive Plan.

 

(y)            “Repurchase
Price” means, for any particular Acquired Share being repurchased by the Company pursuant to its Repurchase Option under Section 22,
the then-current Fair Market Value of the Acquired Share.

 

(z)            “Restricted
Stock” means Shares issued pursuant to an Award of Restricted Stock under Section 8 of the Plan, or issued pursuant to
the early exercise of an Option.

 

(aa)     “Restricted
Stock Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to
Section 9. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

 

(bb)     “Service
Provider” means an Employee, Director or Consultant.

 

(cc)     “Share”
means a share of the Class A Common Stock, as adjusted in accordance with Section 13 of the Plan.

 

(dd)     “Stock
Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to Section 7 is designated
as a Stock Appreciation Right.

 

(ee)     “Subsidiary”
means a “subsidiary corporation,” whether now or hereafter existing, as defined in Code Section 424(f).

 

3.            Stock Subject to the Plan.

 

(a)            Stock
Subject to the Plan. Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be
subject to Awards and sold under the Plan is 10,000,000 Shares. The Shares may be authorized but unissued, or reacquired Class A
Common Stock.

 

    	 	-4-	 

     

    

 

(b)            Lapsed
Awards. If an Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an Exchange
Program, or, with respect to Restricted Stock or Restricted Stock Units, is forfeited to or repurchased by the Company due to the failure
to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares) which
were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock
Appreciation Rights, only Shares actually issued pursuant to a Stock Appreciation Right will cease to be available under the Plan; all
remaining Shares under Stock Appreciation Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated).
Shares that have actually been issued under the Plan under any Award will not be returned to the Plan and will not become available for
future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock or Restricted Stock
Units are repurchased by the Company or are forfeited to the Company due to the failure to vest, such Shares will become available for
future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to
an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather
than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding
the foregoing and, subject to adjustment as provided in Section 13, the maximum number of Shares that may be issued upon the exercise
of Incentive Stock Options will equal the aggregate Share number stated in Section 3(a), plus, to the extent allowable under Code
Section 422 and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant
to Section 3(b).

 

(c)            Share
Reserve. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as will be
sufficient to satisfy the requirements of the Plan.

 

4.            Administration
of the Plan.

 

(a)            Procedure.

 

(i)            Multiple
Administrative Bodies. Different Committees with respect to different groups of Service Providers may administer the Plan.

 

(ii)            Other
Administration. Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee, which Committee
will be constituted to satisfy Applicable Laws.

 

(b)            Powers
of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties delegated
by the Board to such Committee, the Administrator will have the authority, in its discretion:

 

(i)            to
determine the Fair Market Value;

 

    	 	-5-	 

     

    

 

(ii)            to
select the Service Providers to whom Awards may be granted hereunder;

 

(iii)            to
determine the number of Shares to be covered by each Award granted hereunder;

 

(iv)            to
approve forms of Award Agreements for use under the Plan;

 

(v)            to
determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and conditions
include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance
criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Award or the
Shares relating thereto, based in each case on such factors as the Administrator will determine;

 

(vi)            to
institute and determine the terms and conditions of an Exchange Program;

 

(vii)            to
construe and interpret the terms of the Plan and Awards granted pursuant to the Plan;

 

(viii)            to
prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign
laws;

 

(ix)            to
modify or amend each Award (subject to Section 18(c) of the Plan), including but not limited to the discretionary authority
to extend the post-termination exercisability period of Awards and to extend the maximum term of an Option (subject to Section 6(d));

 

(x)            to
allow Participants to satisfy withholding tax obligations in a manner prescribed in Section 14;

 

(xi)            to
authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by
the Administrator;

 

(xii)            to
allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that otherwise would be due to such Participant
under an Award; and

 

(xiii)            to
make all other determinations deemed necessary or advisable for administering the Plan.

 

(c)            Effect
of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations will be final and
binding on all Participants and any other holders of Awards.

 

5.            Eligibility.
Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, and Restricted Stock Units may be granted to Service Providers.
Incentive Stock Options may be granted only to Employees.

 

    	 	-6-	 

     

    

 

6.            Stock
Options.

 

(a)            Grant
of Options. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant Options
in such amounts as the Administrator, in its sole discretion, will determine.

 

(b)            Option
Agreement. Each Award of an Option will be evidenced by an Award Agreement that will specify the exercise price, the term of the Option,
the number of Shares subject to the Option, the exercise restrictions, if any, applicable to the Option, and such other terms and conditions
as the Administrator, in its sole discretion, will determine.

 

(c)            Limitations.
Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. Notwithstanding
such designation, however, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options
are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary)
exceeds one hundred thousand dollars ($100,000), such Options will be treated as Nonstatutory Stock Options. For purposes of this Section 6(c), Incentive
Stock Options will be taken into account in the order in which they were granted, the Fair Market Value of the Shares will be determined
as of the time the Option with respect to such Shares is granted, and calculation will be performed in accordance with Code Section 422
and Treasury Regulations promulgated thereunder.

 

(d)            Term
of Option. The term of each Option will be stated in the Award Agreement; provided, however, that the term will be no more than ten
(10) years from the date of grant thereof. In the case of an Incentive Stock Option granted to a Participant who, at the time the
Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes
of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5) years from the date
of grant or such shorter term as may be provided in the Award Agreement.

 

(e)            Option
Exercise Price and Consideration.

 

(i)            Exercise
Price. The per Share exercise price for the Shares to be issued pursuant to the exercise of an Option will be determined by the Administrator,
but will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. In addition, in the case
of an Incentive Stock Option granted to an Employee who owns stock representing more than ten percent (10%) of the voting power of all
classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent
(110%) of the Fair Market Value per Share on the date of grant. Notwithstanding the foregoing provisions of this Section 6(e)(i),
Options may be granted with a per Share exercise price of less than one hundred percent (100%) of the Fair Market Value per Share on the
date of grant pursuant to a transaction described in, and in a manner consistent with, Code Section 424(a).

 

(ii)            Waiting
Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option may be
exercised and will determine any conditions that must be satisfied before the Option may be exercised.

 

    	 	-7-	 

     

    

 

(iii)            Form of
Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option, including the method
of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of consideration at the time
of grant. Such consideration may consist entirely of: (1) cash; (2) check; (3) promissory note, to the extent permitted
by Applicable Laws, (4) other Shares, provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate
exercise price of the Shares as to which such Option will be exercised and provided further that accepting such Shares will not result
in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion; (5) consideration
received by the Company under cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection
with the Plan; (6) by net exercise, (7) such other consideration and method of payment for the issuance of Shares to the extent
permitted by Applicable Laws, or (8) any combination of the foregoing methods of payment. In making its determination as to the type
of consideration to accept, the Administrator will consider if acceptance of such consideration may be reasonably expected to benefit
the Company.

 

(f)            Exercise
of Option.

 

(i)            Procedure
for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the Plan and at
such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised
for a fraction of a Share.

 

An Option will be deemed exercised
when the Company receives: (i) notice of exercise (in such form as the Administrator may specify from time to time) from the person
entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with
applicable tax withholding). Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted
by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested
by the Participant, in the name of the Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any
other rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option.
The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend
or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan.

 

Exercising an Option in any
manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number
of Shares as to which the Option is exercised.

 

(ii)            Termination
of Relationship as a Service Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s termination
as the result of the Participant’s death or Disability, the Participant may exercise his or her Option within such period of time
as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award
Agreement) to the extent that the Option is vested on the date of termination. In the absence of a specified time in the Award Agreement,
the Option shall remain exercisable for three (3) months following the Participant’s termination. Unless otherwise provided
by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by
the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within
the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

 

    	 	-8-	 

     

    

 

(iii)            Disability
of Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the Participant
may exercise his or her Option within such period of time as is specified in the Award Agreement (but in no event later than the expiration
of the term of such Option as set forth in the Award Agreement) to the extent the Option is vested on the date of termination. In the
absence of a specified time in the Award Agreement, the Option shall remain exercisable for twelve (12) months following the Participant’s
termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or
her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant
does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option
will revert to the Plan.

 

(iv)            Death
of Participant. If a Participant dies while a Service Provider, the Option may be exercised within such period of time as is specified
in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement) to the
extent that the Option is vested on the date of death, by the Participant’s designated beneficiary, provided such beneficiary has
been designated prior to the Participant’s death in a form acceptable to the Administrator. If no such beneficiary has been designated
by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to
whom the Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. In
the absence of a specified time in the Award Agreement, the Option shall remain exercisable for twelve (12) months following the Participant’s
termination. Unless otherwise provided by the Administrator, if at the time of death Participant is not vested as to his or her entire
Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised
within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

 

7.            Stock
Appreciation Rights.

 

(a)            Grant
of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to Service
Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion.

 

(b)            Number
of Shares. The Administrator will have complete discretion to determine the number of Shares subject to any Award of Stock Appreciation
Rights.

 

(c)            Exercise
Price and Other Terms. The per Share exercise price for the Shares that will determine the amount of the payment to be received upon
exercise of a Stock Appreciation Right as set forth in Section 7(f) will be determined by the Administrator and will be no less
than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. Otherwise, the Administrator, subject to the
provisions of the Plan, will have complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under
the Plan.

 

    	 	-9-	 

     

    

 

(d)            Stock
Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify the exercise
price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator,
in its sole discretion, will determine.

 

(e)            Expiration
of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon the date determined by the Administrator,
in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6(d) relating
to the maximum term and Section 6(f) relating to exercise also will apply to Stock Appreciation Rights.

 

(f)            Payment
of Stock Appreciation Right Amount. Upon exercise of a Stock Appreciation Right, a Participant will be entitled to receive payment
from the Company in an amount determined by multiplying:

 

(i)            The
difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

 

(ii)            The
number of Shares with respect to which the Stock Appreciation Right is exercised.

 

At the discretion of the Administrator,
the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value, or in some combination thereof.

 

8.            Restricted
Stock.

 

(a)            Grant
of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant
Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine.

 

(b)            Restricted
Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of Restriction,
the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless
the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until the restrictions on such
Shares have lapsed.

 

(c)            Transferability.
Except as provided in this Section 8 or as the Administrator determines, Shares of Restricted Stock may not be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction.

 

(d)            Other
Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as it may
deem advisable or appropriate.

 

(e)            Removal
of Restrictions. Except as otherwise provided in this Section 8, Shares of Restricted Stock covered by each Restricted Stock
grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such
other time as the Administrator may determine. The Administrator, in its discretion, may accelerate the time at which any restrictions
will lapse or be removed.

 

    	 	-10-	 

     

    

 

(f)            Voting
Rights. During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full
voting rights with respect to those Shares, unless the Administrator determines otherwise.

 

(g)            Dividends
and Other Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be entitled to
receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such
dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions on transferability and forfeitability
as the Shares of Restricted Stock with respect to which they were paid.

 

(h)            Return
of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not
lapsed will revert to the Company and again will become available for grant under the Plan.

 

9.            Restricted
Stock Units.

 

(a)            Grant.
Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the Administrator determines
that it will grant Restricted Stock Units, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions
related to the grant, including the number of Restricted Stock Units.

 

(b)            Vesting
Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the extent to which the
criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may
set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals (including, but not limited to, continued
employment or service), or any other basis determined by the Administrator in its discretion.

 

(c)            Earning
Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a payout as determined
by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its
sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout.

 

(d)            Form and
Timing of Payment. Payment of earned Restricted Stock Units will be made as soon as practicable after the date(s) determined
by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Restricted Stock
Units in cash, Shares, or a combination of both.

 

(e)            Cancellation.
On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the Company.

 

    	 	-11-	 

     

    

 

10.            Compliance
With Code Section 409A. Awards will be designed and operated in such a manner that they are either exempt from the application
of, or comply with, the requirements of Code Section 409A, except as otherwise determined in the sole discretion of the Administrator.
The Plan and each Award Agreement under the Plan is intended to meet the requirements of Code Section 409A and will be construed
and interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. To the extent
that an Award or payment, or the settlement or deferral thereof, is subject to Code Section 409A the Award will be granted, paid,
settled or deferred in a manner that will meet the requirements of Code Section 409A, such that the grant, payment, settlement or
deferral will not be subject to the additional tax or interest applicable under Code Section 409A.

 

11.            Leaves
of Absence/Transfer Between Locations. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended
during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of (i) any leave of absence approved
by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes
of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed
by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months
following the first (1st) day of such leave, any Incentive Stock Option held by the Participant will cease to be treated as
an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option.

 

12.            Limited
Transferability of Awards.

 

(a)            Unless
determined otherwise by the Administrator, Awards may not be sold,
pledged, assigned, hypothecated, or otherwise transferred in any manner other than by will or by the laws of descent and distribution,
and may be exercised, during the lifetime of the Participant, only by the Participant.

 

(b)            Further,
until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, or after the Administrator
determines that it is, will, or may no longer be relying upon the exemption from registration under the Exchange Act as set forth in Rule 12h-1(f) promulgated
under the Exchange Act, an Option, or prior to exercise, the Shares subject to the Option, may not
be pledged, hypothecated or otherwise transferred or disposed of, in any manner, including by entering
into any short position, any “put equivalent position” or any “call equivalent position” (as defined in Rule 16a-1(h) and
Rule 16a-1(b) of the Exchange Act, respectively), other than to (i) persons who are “family members” (as defined
in Rule 701(c)(3) of the Securities Act of 1933, as amended (the “Securities Act”)) through gifts or domestic relations
orders, or (ii) to an executor or guardian of the Participant upon the death or disability of the Participant. Notwithstanding the
foregoing sentence, the Administrator, in its sole discretion, may determine to permit transfers to the Company or in connection with
a Change in Control or other acquisition transactions involving the Company to the extent permitted by Rule 12h-1(f).

 

13.            Adjustments;
Dissolution or Liquidation; Merger or Change in Control.

 

(a)            Adjustments.
In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization,
stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares
or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator,
in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will
adjust the number and class of Shares that may be delivered under the Plan and/or the number, class, and price of Shares covered by each
outstanding Award.

 

    	 	-12-	 

     

    

 

(b)            Dissolution
or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will notify each Participant
as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an
Award will terminate immediately prior to the consummation of such proposed action.

 

(c)            Merger
or Change in Control. In the event of a merger or Change in Control, each outstanding Award will be treated as the Administrator determines
(subject to the provisions of the following paragraph) without a Participant’s consent, including, without limitation, that (i) Awards
will be assumed, or substantially equivalent Awards will be substituted, by the acquiring or succeeding corporation (or an affiliate thereof)
with appropriate adjustments as to the number and kind of shares and prices; (ii) upon written notice to a Participant, that the
Participant’s Awards will terminate upon or immediately prior to the consummation of such merger or Change in Control; (iii) outstanding
Awards will vest and become exercisable, realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part
prior to or upon consummation of such merger or Change in Control, and, to the extent the Administrator determines, terminate upon or
immediately prior to the effectiveness of such merger or Change in Control; (iv) (A) the termination of an Award in exchange
for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization
of the Participant’s rights as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if as of the date
of the occurrence of the transaction the Administrator determines in good faith that no amount would have been attained upon the exercise
of such Award or realization of the Participant’s rights, then such Award may be terminated by the Company without payment), or
(B) the replacement of such Award with other rights or property selected by the Administrator in its sole discretion; or (v) any
combination of the foregoing. In taking any of the actions permitted under this subsection 13(c), the Administrator will not be obligated
to treat all Awards, all Awards held by a Participant, or all Awards of the same type, similarly.

 

In the event that the successor
corporation does not assume or substitute for the Award (or portion thereof), the Participant will fully vest in and have the right to
exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards would not otherwise
be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Awards with
performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target
levels and all other terms and conditions met. In addition, if an Option or Stock Appreciation Right is not assumed or substituted in
the event of a merger or Change in Control, the Administrator will notify the Participant in writing or electronically that the Option
or Stock Appreciation Right will be exercisable for a period of time determined by the Administrator in its sole discretion, and the Option
or Stock Appreciation Right will terminate upon the expiration of such period.

 

    	 	-13-	 

     

    

 

For the purposes of this subsection
13(c), an Award will be considered assumed if, following the merger or Change in Control, the Award confers the right to purchase or receive,
for each Share subject to the Award immediately prior to the merger or Change in Control, the consideration (whether stock, cash, or other
securities or property) received in the merger or Change in Control by holders of Class A Common Stock for each Share held on the
effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders
of a majority of the outstanding Shares); provided, however, that if such consideration received in the merger or Change in Control is
not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation,
provide for the consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted
Stock Unit, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market
value to the per share consideration received by holders of Class A Common Stock in the merger or Change in Control.

 

Notwithstanding anything in
this Section 13(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance
goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant’s
consent; provided, however, a modification to such performance goals only to reflect the successor corporation’s post-Change in
Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

 

Notwithstanding anything in
this Section 13(c) to the contrary, if a payment under an Award Agreement is subject to Code Section 409A and if the change
in control definition contained in the Award Agreement does not comply with the definition of “change of control” for purposes
of a distribution under Code Section 409A, then any payment of an amount that is otherwise accelerated under this Section will
be delayed until the earliest time that such payment would be permissible under Code Section 409A without triggering any penalties
applicable under Code Section 409A.

 

14.            Tax
Withholding.

 

(a)            Withholding
Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof), the Company will have the power
and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state,
local, foreign or other taxes (including the Participant’s FICA obligation) required to be withheld with respect to such Award (or
exercise thereof).

 

(b)            Withholding
Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit
a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (i) paying cash, (ii) electing
to have the Company withhold otherwise deliverable Shares having a Fair Market Value equal to the minimum statutory amount required to
be withheld, (iii) delivering to the Company already-owned Shares having a Fair Market Value equal to the statutory amount required
to be withheld, provided the delivery of such Shares will not result in any adverse accounting consequences, as the Administrator determines
in its sole discretion, or (iv) selling a sufficient number of Shares otherwise deliverable to the Participant through such means
as the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld.
The amount of the withholding requirement will be deemed to include any amount which the Administrator agrees may be withheld at the time
the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax rates applicable
to the Participant with respect to the Award on the date that the amount of tax to be withheld is to be determined. The Fair Market Value
of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld.

 

    	 	-14-	 

     

    

 

15.            No
Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect to continuing
the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s
right or the Company’s right to terminate such relationship at any time, with or without cause, to the extent permitted by Applicable
Laws.

 

16.            Date
of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination granting
such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant
within a reasonable time after the date of such grant.

 

17.            Term
of Plan. Subject to Section 21 of the Plan, the Plan will become effective upon its adoption by the Board. Unless sooner terminated
under Section 18, it will continue in effect for a term of ten (10) years from the later of (a) the effective date of the
Plan, or (b) the earlier of the most recent Board or stockholder approval of an increase in the number of Shares reserved for issuance
under the Plan.

 

18.            Amendment
and Termination of the Plan.

 

(a)            Amendment
and Termination. The Board may at any time amend, alter, suspend or terminate the Plan.

 

(b)            Stockholder
Approval. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply with
Applicable Laws.

 

(c)            Effect
of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan will impair the rights of any Participant,
unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant
and the Company. Termination of the Plan will not affect the Administrator’s ability to exercise the powers granted to it hereunder
with respect to Awards granted under the Plan prior to the date of such termination.

 

19.            Conditions
Upon Issuance of Shares.

 

(a)            Legal
Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and
delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect
to such compliance.

 

(b)            Investment
Representations. As a condition to the exercise of an Award, the Company may require the person exercising such Award to represent
and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention
to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required.

 

    	 	-15-	 

     

    

 

20.            Inability
to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company
of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority will not have been obtained.

 

21.            Stockholder
Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan
is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws.

 

22.            Company’s
Right to Repurchase Shares Acquired Through Awards.

 

(a)            Repurchase
Option.

 

(i)            In
the event a Participant’s continuous status as a Service Provider terminates for any or no reason (including death or Disability),
the Company shall, upon the date of such termination (as reasonably fixed and determined by the Company), have an irrevocable, exclusive
option for a period of ninety (90) days from such date to repurchase any Shares acquired by the Participant under an Award (“Acquired
Shares”) at the Repurchase Price per share (the “Repurchase Option”). The Repurchase Option shall terminate as to any
Acquired Shares upon the earlier of (i) the first sale of Class A Common Stock of the Company to the general public, or (ii) a
Change in Control in which the successor corporation has equity securities that are publicly traded.

 

(ii)            The
Repurchase Option shall be exercised by the Company by delivering written notice to the Participant or the Participant’s executor
(with a copy to the Escrow Holder (as defined in Section 22(b)) AND, at the Company’s option, (1) by delivering to the
Participant or the Participant’s executor a check in the amount of the aggregate Repurchase Price, or (2) by the Company canceling
an amount of the Participant’s indebtedness to the Company equal to the aggregate Repurchase Price, or (3) by a combination
of (1) and (2) so that the combined payment and cancellation of indebtedness equals such aggregate Repurchase Price. Upon delivery
of such notice and the payment of the aggregate Repurchase Price in any of the ways described above, the Company shall become the legal
and beneficial owner of the Acquired Shares being repurchased and all rights and interests therein or relating thereto, and the Company
shall have the right to retain and transfer to its own name the number of Acquired Shares being repurchased by the Company.

 

(iii)            Whenever
the Company shall have the right to repurchase the Acquired Shares hereunder, the Company may designate and assign one or more employees,
officers, directors or shareholders of the Company or other persons or organizations to exercise all or a part of the Company’s
Repurchase Option to purchase all or a part of the Acquired Shares.

 

(iv)            If
the Company or its assignee does not elect to exercise the Repurchase Option conferred above by giving the requisite notice within ninety
(90) days following the Participant’s termination as a Service Provider, the Repurchase Option shall terminate.

 

    	 	-16-	 

     

    

 

(b)            Escrow
of Shares.

 

(i)            To
ensure the availability for delivery of the Participant’s Acquired Shares upon exercise of the Repurchase Option by the Company,
Participant will, as a condition to the receipt of any Acquired Shares, deliver and deposit with an escrow holder designated by the Company
(the “Escrow Holder”) the share certificates representing the Acquired Shares, together with a stock assignment agreement
in a form approved by the Administrator (the “Stock Assignment”) duly endorsed in blank. The Acquired Shares and Stock Assignment
shall be held by the Escrow Holder, pursuant to joint escrow instructions (in a form approved by the Administrator) of the Company and
the Participant until such time as the Company’s Repurchase Option expires.

 

(ii)            The
Escrow Holder shall not be liable for any act it may do or omit to do with respect to holding the Acquired Shares in escrow and while
acting in good faith and in the exercise of its judgment.

 

(iii)            If
the Company or any assignee exercises its Repurchase Option under this Section 22, the Escrow Holder, upon receipt of written notice
of such option exercise from the proposed transferee, shall take all steps necessary to accomplish such transfer. The Escrow Holder shall
have full power of substitution, as the Participant’s true and lawful attorney-in-fact with irrevocable power and authority in the
name and on behalf of the Participant to take any action and execute all documents and instruments, including, without limitation, stock
powers which may be necessary to transfer the certificate or certificates evidencing such Acquired Shares to the Company upon such termination.
The Escrow Holder shall promptly cause new certificates to be issued for the Acquired Shares and shall deliver a certificate to the Company
for the repurchased Acquired Shares and to the Participant for the unrepurchased Acquired Shares.

 

(iv)            Subject
to the terms of the Plan and the applicable Award Agreement, the Participant shall have all the rights of a shareholder with respect to
Acquired Shares while they are held in escrow, including without limitation, the right to vote the Acquired Shares and receive any cash
dividends declared thereon.

 

(v)            In
the event of any merger, reorganization, consolidation, recapitalization, separation, liquidation, stock dividend, split-up, share combination,
or other change in the corporate structure of the Company affecting the Class A Common Stock, the Acquired Shares shall be increased,
reduced or otherwise changed, and by virtue of any such change the Participant shall in his or her capacity as owner of the Acquired Shares
be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities);
such new or additional or different shares, cash or securities shall thereupon be considered to be “Acquired Shares” and shall
be subject to all of the conditions and restrictions which were applicable to the Acquired Shares pursuant to this Section 22. If
the Participant receives rights or warrants with respect to any Acquired Shares, such rights or warrants may be held or exercised by the
Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired
by the exercise of such rights or warrants shall be considered to be Acquired Shares and shall be subject to all of the conditions and
restrictions which were applicable to the Acquired Shares pursuant to this Section 22.

 

    	 	-17-	 

     

    

 

23.            Information
to Participants. Beginning on the earlier of (i) the date that the aggregate number
of Participants under this Plan is five hundred (500) or more and the Company is relying on the exemption
provided by Rule 12h-1(f)(1) under the Exchange Act and (ii) the date that the Company is required to deliver information
to Participants pursuant to Rule 701 under the Securities Act, and until such time as the Company becomes subject to the reporting
requirements of Section 13 or 15(d) of the Exchange Act, is no longer relying on
the exemption provided by Rule 12h-1(f)(1) under the Exchange Act or is no longer required
to deliver information to Participants pursuant to Rule 701 under the Securities Act, the Company shall provide to each Participant
the information described in paragraphs (e)(3), (4), and (5) of Rule 701 under the Securities Act not less frequently than every
six (6) months with the financial statements being not more than 180 days old and with such information provided either by physical
or electronic delivery to the Participants or by written notice to the Participants of the availability of the information on an Internet
site that may be password-protected and of any password needed to access the information. The Company may request that Participants agree
to keep the information to be provided pursuant to this section confidential. If a Participant does not agree to keep the information
to be provided pursuant to this section confidential, then the Company will not be required to provide the information unless
otherwise required pursuant to Rule 12h-1(f)(1) under the Exchange Act or Rule 701 of the Securities Act.

 

    	 	-18-	 

     

    

 

APPENDIX A

 

To

 

2015 EQUITY INCENTIVE PLAN

 

(for California residents only, to the extent
required by 25102(o))

 

This Appendix A to the Brivo, Inc.
2015 Equity Incentive Plan shall apply only to the Participants who are residents of the State of California and who are receiving an
Award under the Plan. Capitalized terms contained herein shall have the same meanings given to them in the Plan, unless otherwise provided
by this Appendix A. Notwithstanding any provisions contained in the Plan to the contrary and to the extent required by Applicable Laws,
the following terms shall apply to all Awards granted to residents of the State of California, until such time as the Administrator amends
this Appendix A or the Administrator otherwise provides.

 

(a)            The
term of each Option shall be stated in the Award Agreement, provided, however, that the term shall be no more than ten (10) years
from the date of grant thereof.

 

(b)            Unless
determined otherwise by the Administrator, Awards may not be sold,
pledged, assigned, hypothecated, or otherwise transferred in any manner other than by will or by the laws of descent and distribution,
and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable,
such Award may only be transferred (i) by will, (ii) by the laws of descent and distribution, or (iii) as permitted by
Rule 701 of the Securities Act of 1933, as amended (the “Securities Act”).

 

(c)            If
a Participant ceases to be a Service Provider, such Participant may exercise his or her Option within such period of time as specified
in the Award Agreement, which shall not be less than thirty (30) days following the date of the Participant’s termination, to the
extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of the Option as set
forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option shall remain exercisable for three
(3) months following the Participant’s termination.

 

(d)            If
a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the Participant may exercise his or her
Option within such period of time as specified in the Award Agreement, which shall not be less than six (6) months following the
date of the Participant’s termination, to the extent the Option is vested on the date of termination (but in no event later than
the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement,
the Option shall remain exercisable for twelve (12) months following the Participant’s termination.

 

(e)            If
a Participant dies while a Service Provider, the Option may be exercised within such period of time as specified in the Award Agreement,
which shall not be less than six (6) months following the date of the Participant’s death, to the extent the Option is vested
on the date of death (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement) by the
Participant’s designated beneficiary, personal representative, or by the person(s) to whom the Option is transferred pursuant
to the Participant’s will or in accordance with the laws of descent and distribution. In the absence of a specified time in the
Award Agreement, the Option shall remain exercisable for twelve (12) months following the Participant’s termination.

 

    	 	-19-	 

     

    

 

(f)            No
Award shall be granted to a resident of California more than ten (10) years after the earlier of the date of adoption of the Plan
or the date the Plan is approved by the stockholders.

 

(g)            In
the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization,
stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares
or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator,
in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will
adjust the number and class of Shares that may be delivered under the Plan and/or the number, class, and price of Shares covered by each
outstanding Award; provided, however, that the Administrator will make such adjustments to an Award required by Section 25102(o) of
the California Corporations Code to the extent the Company is relying upon the exemption afforded thereby with respect to the Award.

 

(h)            This
Appendix A shall be deemed to be part of the Plan and the Administrator shall have the authority to amend this Appendix A in accordance
with Section 18 of the Plan.

 

    	 	-20-Exhibit 10.11

 

BRIVO, INC.

 

2015 EQUITY INCENTIVE PLAN

 

STOCK OPTION AGREEMENT

 

Unless otherwise defined herein,
the terms defined in the 2015 Equity Incentive Plan (the “Plan”) shall have the same defined meanings in this Stock Option
Agreement (the “Option Agreement”).

 

		I.	NOTICE OF STOCK OPTION GRANT

 

	Name:	 
	 
	Address:	 

 

The undersigned Participant
has been granted an Option to purchase Class A Common Stock of the Company, subject to the terms and conditions of the Plan and this
Option Agreement, as follows:

 

	Date of Grant:	xx/xx/xxxx
	 	 
	Vesting Commencement Date:	xx/xx/xxxx
	 	 
	Exercise Price per Share:	$ x.xx
	 	 
	Total Number of Shares Granted:	xx,xxx
	 	 
	Total Exercise Price :	$x,xxx
	 	 
	Type of Option:	x      Incentive Stock Option
	 	 
		 ̈      Nonstatutory Stock Option
	 	 
	Term/Expiration Date:	10 years

 

Vesting Schedule:

 

This Option shall be exercisable,
in whole or in part, according to the following vesting schedule:

 

Twenty percent (20%) of the
Shares subject to the Option shall vest on the one (1) year anniversary of the Vesting Commencement Date, and one-sixtieth (1/60th)
of the Shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date (and
if there is no corresponding day, on the last day of the month), subject to Participant continuing to be a Service Provider through each
such date.

 

    	 	 	 

     

    

 

Termination Period:

 

This Option shall be exercisable
for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death
or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider.
Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and
this Option may be subject to earlier termination as provided in Section 13 of the Plan.

 

II.            AGREEMENT

 

1.            Grant
of Option. The Administrator of the Company hereby grants to the Participant named in the Notice of Stock Option Grant in Part I
of this Agreement (“Participant”), an option (the “Option”) to purchase the number of Shares set forth in the
Notice of Stock Option Grant, at the exercise price per Share set forth in the Notice of Stock Option Grant (the “Exercise Price”),
and subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 18 of the Plan,
in the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions of the Plan
shall prevail.

 

If designated in the Notice
of Stock Option Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive Stock Option
as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d),
this Option shall be treated as a Nonstatutory Stock Option (“NSO”). Further, if for any reason this Option (or portion thereof)
shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO
granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees
or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an
ISO.

 

2.            Exercise
of Option.

 

(a)            Right
to Exercise. This Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Stock
Option Grant and with the applicable provisions of the Plan and this Option Agreement.

 

(b)            Method
of Exercise. This Option shall be exercisable by delivery of an exercise notice in the form attached as Exhibit A (the
 “Exercise Notice”) or in a manner and pursuant to such procedures as the Administrator may determine, which shall state the
election to exercise the Option, the number of Shares with respect to which the Option is being exercised (the “Exercised Shares”),
and such other representations and agreements as may be required by the Company. The Exercise Notice shall be accompanied by payment of
the aggregate Exercise Price as to all Exercised Shares, together with any applicable tax withholding. This Option shall be deemed to
be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise Price, together
with any applicable tax withholding.

 

No Shares shall be issued pursuant
to the exercise of an Option unless such issuance and such exercise comply with Applicable Laws. Assuming such compliance, for income
tax purposes the Shares shall be considered transferred to Participant on the date on which the Option is exercised with respect to such
Shares.

 

    	 	-2-	 

     

    

 

3.            Participant’s
Representations. In the event the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), at the time this Option is exercised, Participant shall, if required by the Company, concurrently with the exercise of all
or any portion of this Option, deliver to the Company his or her Investment Representation Statement in the form attached hereto as Exhibit B.

 

4.            Lock-Up
Period. Participant hereby agrees that Participant shall not offer, pledge, sell, contract to sell, sell any option or contract to
purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose
of, directly or indirectly, any Class A Common Stock (or other securities) of the Company or enter into any swap, hedging or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Class A Common Stock
(or other securities) of the Company held by Participant (other than those included in the registration) for a period specified by the
representative of the underwriters of Class A Common Stock (or other securities) of the Company not to exceed one hundred and eighty
(180) days following the effective date of any registration statement of the Company filed under the Securities Act (or such other period
as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication or other distribution
of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NASD
Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto).

 

Participant agrees to execute
and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are consistent with the foregoing
or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters
of Class A Common Stock (or other securities) of the Company, Participant shall provide, within ten (10) days of such request,
such information as may be required by the Company or such representative in connection with the completion of any public offering of
the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described in this
Section 4 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar
forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4
or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the shares of
Class A Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred and eighty (180)
day (or other) period. Participant agrees that any transferee of the Option or shares acquired pursuant to the Option shall be bound by
this Section 4.

 

5.            Method
of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of
the Participant:

 

(a)            cash;

 

(b)            check;

 

    	 	-3-	 

     

    

 

(c)            consideration
received by the Company under a formal cashless exercise program adopted by the Company in connection with the Plan; or

 

(d)            surrender
of other Shares which (i) shall be valued at its Fair Market Value on the date of exercise, and (ii) must be owned free and
clear of any liens, claims, encumbrances or security interests, if accepting such Shares, in the sole discretion of the Administrator,
shall not result in any adverse accounting consequences to the Company.

 

6.            Restrictions
on Exercise. This Option may not be exercised until such time as the Plan has been approved by the stockholders of the Company, or
if the issuance of such Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation
of any Applicable Law.

 

7.            Non-Transferability
of Option.

 

(a)            This
Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during
the lifetime of Participant only by Participant. The terms of the Plan and this Option Agreement shall be binding upon the executors,
administrators, heirs, successors and assigns of Participant.

 

(b)            Further,
until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, or after the Administrator
determines that it is, will, or may no longer be relying upon the exemption from registration of Options under the Exchange Act as set
forth in Rule 12h-1(f) promulgated under the Exchange Act (the “Reliance End Date”), Participant shall not transfer
this Option or, prior to exercise, the Shares subject to this Option, in any manner other than (i) to persons who are “family
members” (as defined in Rule 701(c)(3) of the Securities Act) through gifts or domestic relations orders, or (ii) to
an executor or guardian of Participant upon the death or disability of Participant. Until the Reliance End Date, the Options and, prior
to exercise, the Shares subject to this Option, may not be pledged, hypothecated or otherwise transferred or disposed of, including by
entering into any short position, any “put equivalent position” or any “call equivalent position” (as defined
in Rule 16a-1(h) and Rule 16a-1(b) of the Exchange Act, respectively), other than as permitted in clauses (i) and
(ii) of this paragraph.

 

8.            Term
of Option. This Option may be exercised only within the term set out in the Notice of Stock Option Grant, and may be exercised during
such term only in accordance with the Plan and the terms of this Option Agreement.

 

9.            Tax
Obligations.

 

(a)            Tax
Withholding. Participant agrees to make appropriate arrangements with the Company (or the Parent or Subsidiary employing or retaining
Participant) for the satisfaction of all Federal, state, local and foreign income and employment tax withholding requirements applicable
to the Option exercise. Participant acknowledges and agrees that the Company may refuse to honor the exercise and refuse to deliver the
Shares if such withholding amounts are not delivered at the time of exercise.

 

    	 	-4-	 

     

    

 

(b)            Notice
of Disqualifying Disposition of ISO Shares. If the Option granted to Participant herein is an ISO, and if Participant sells or otherwise
disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Date
of Grant, or (ii) the date one (1) year after the date of exercise, Participant shall immediately notify the Company in writing
of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on the compensation income
recognized by Participant.

 

(c)            Code
Section 409A. Under Code Section 409A, an Option that vests after December 31, 2004 (or that vested on or prior to
such date but which was materially modified after October 3, 2004) that was granted with a per Share exercise price that is determined
by the Internal Revenue Service (the “IRS”) to be less than the Fair Market Value of a Share on the date of grant (a “discount
option”) may be considered “deferred compensation.” An Option that is a “discount option” may result in
(i) income recognition by Participant prior to the exercise of the Option, (ii) an additional twenty percent (20%) federal income
tax, and (iii) potential penalty and interest charges. The “discount option” may also result in additional state income,
penalty and interest tax to the Participant. Participant acknowledges that the Company cannot and has not guaranteed that the IRS will
agree that the per Share exercise price of this Option equals or exceeds the Fair Market Value of a Share on the date of grant in a later
examination. Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was less than
the Fair Market Value of a Share on the date of grant, Participant shall be solely responsible for Participant’s costs related to
such a determination.

 

10.            Entire
Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement
of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the
Company and Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest
except by means of a writing signed by the Company and Participant. This Option Agreement is governed by the internal substantive laws
but not the choice of law rules of Texas.

 

11.            No
Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF
IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT)
AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND
AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS
OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE
IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT)
TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

 

    	 	-5-	 

     

    

 

Participant acknowledges receipt
of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Option
subject to all of the terms and provisions thereof. Participant has reviewed the Plan and this Option in their entirety, has had an opportunity
to obtain the advice of counsel prior to executing this Option and fully understands all provisions of the Option. Participant hereby
agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under
the Plan or this Option. Participant further agrees to notify the Company upon any change in the residence address indicated below.

 

	PARTICIPANT	 	BRIVO,INC.
	 	 	 
	 	 	 
	Signature	 	By
	 	 	 
	 	 	 
	Print Name	 	Print Name
	 	 	 
	 	 	 
		 	Title
	 	 	 
	Residence Address	 	 

 

    	 	-6-	 

     

    

 

EXHIBIT A

 

2015 EQUITY INCENTIVE PLAN

 

EXERCISE NOTICE

 

Brivo, Inc.

7700 Old Georgetown Road

Suite 300

Bethesda, MD 20814

 

Attention: Corporate Secretary

 

1.            Exercise
of Option. Effective as of today, ________________, ____, the undersigned (“Participant”) hereby elects to exercise Participant’s
option (the “Option”) to purchase ________________ shares of the Class A Common Stock (the “Shares”)
of Brivo, Inc. (the “Company”) under and pursuant to the 2015 Equity Incentive Plan (the “Plan”) and the
Stock Option Agreement dated ______________, _____ (the “Option Agreement”).

 

2.            Delivery
of Payment. Participant herewith delivers to the Company the full purchase price of the Shares, as set forth in the Option Agreement,
and any and all withholding taxes due in connection with the exercise of the Option.

 

3.            Representations
of Participant. Participant acknowledges that Participant has received, read and understood the Plan and the Option Agreement and
agrees to abide by and be bound by their terms and conditions.

 

4.            Rights
as Stockholder. Until the issuance of the Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to
the Class A Common Stock subject to an Award, notwithstanding the exercise of the Option. The Shares shall be issued to Participant
as soon as practicable after the Option is exercised in accordance with the Option Agreement. No adjustment shall be made for a dividend
or other right for which the record date is prior to the date of issuance except as provided in Section 13 of the Plan.

 

5.            Company’s
Right of First Refusal. Before any Shares held by Participant or any transferee (either being sometimes referred to herein as the
 “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall
have a right of first refusal to purchase the Shares on the terms and conditions set forth in this Section 5 (the “Right of
First Refusal”).

 

(a)            Notice
of Proposed Transfer. The Holder of the Shares shall deliver to the Company a written notice (the “Notice”) stating: (i) the
Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each proposed purchaser or other transferee
(“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee; and (iv) the
bona fide cash price or other consideration for which the Holder proposes to transfer the Shares (the “Offered Price”), and
the Holder shall offer the Shares at the Offered Price to the Company or its assignee(s).

 

    	 	 	 

     

    

 

(b)            Exercise
of Right of First Refusal. At any time within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may,
by giving written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to be transferred to any
one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below.

 

(c)            Purchase
Price. The purchase price (“Purchase Price”) for the Shares purchased by the Company or its assignee(s) under this
Section 5 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the
non-cash consideration shall be determined by the Board of Directors of the Company in good faith.

 

(d)            Payment.
Payment of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check), by cancellation of all
or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee),
or by any combination thereof within thirty (30) days after receipt of the Notice or in the manner and at the times set forth in
the Notice.

 

(e)            Holder’s
Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased
by the Company and/or its assignee(s) as provided in this Section 5, then the Holder may sell or otherwise transfer such Shares
to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated
within one hundred and twenty (120) days after the date of the Notice, that any such sale or other transfer is effected in accordance
with any applicable securities laws and that the Proposed Transferee agrees in writing that the provisions of this Section 5 shall
continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in the Notice are not transferred to
the Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again
be offered the Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred.

 

(f)            Exception
for Certain Family Transfers. Anything to the contrary contained in this Section 5 notwithstanding, the transfer of any or all
of the Shares during the Participant’s lifetime or on the Participant’s death by will or intestacy to the Participant’s
immediate family or a trust for the benefit of the Participant’s immediate family shall be exempt from the provisions of this Section 5.
 “Immediate Family” as used herein shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister. In
such case, the transferee or other recipient shall receive and hold the Shares so transferred subject to the provisions of this Section 5,
and there shall be no further transfer of such Shares except in accordance with the terms of this Section 5.

 

(g)            Termination
of Right of First Refusal. The Right of First Refusal shall terminate as to any Shares upon the earlier of (i) the first sale
of Class A Common Stock of the Company to the general public, or (ii) a Change in Control in which the successor corporation
has equity securities that are publicly traded.

 

    	 	-2-	 

     

    

 

6.            Repurchase
Option.

 

(a)            In
the event Participant’s continuous status as a Service Provider terminates for any or no reason (including death or Disability),
the Company shall have an option to repurchase the Shares as provided in Section 22 of the Plan (the “Repurchase Option”).

 

(b)            To
ensure the availability for delivery of the Shares upon exercise of the Repurchase Option by the Company, Participant will, upon execution
of this Agreement, deliver and deposit with an escrow holder designated by the Company (the “Escrow Holder”) the share certificates
representing the Shares, together with the Assignment Separate from Certificate (the “Stock Assignment”) duly endorsed in
blank, attached hereto as Exhibit C-1. Subject to Section 22 of the Plan, the Shares and Stock Assignment shall be held
by the Escrow Holder, pursuant to the Joint Escrow Instructions of the Company and Participant attached as Exhibit C-2 hereto,
until such time as the Company’s Repurchase Option expires.

 

7.            Non-Transferability
of Shares. Until the expiration of the Repurchase Option, the Shares may not be transferred in any manner otherwise than by will or
by the laws of descent or distribution, subject to Section 22(a) of the Plan. Following the expiration of the Repurchase Option,
the Shares may be transferred as permitted by the Company, subject to compliance with (i) Section 4 of Part II of the Option
Agreement and (ii) Applicable Laws (as defined in the Plan).

 

8.            Tax
Consultation. Participant understands that Participant may suffer adverse tax consequences as a result of Participant’s purchase
or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable
in connection with the purchase or disposition of the Shares and that Participant is not relying on the Company for any tax advice.

 

9.            Restrictive
Legends and Stop-Transfer Orders.

 

(a)            Legends.
Participant understands and agrees that the Company shall cause the legends set forth below or legends substantially equivalent thereto,
to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by the
Company or by state or federal securities laws:

 

THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD
OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY
TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.

 

THE SHARES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL
HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS ARE BINDING
ON TRANSFEREES OF THESE SHARES.

 

    	 	-3-	 

     

    

 

THE SHARES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR A PERIOD OF TIME FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC
OFFERING OF THE COMPANY’S SECURITIES SET FORTH IN AN AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES AND MAY NOT
BE SOLD OR OTHERWISE DISPOSED OF BY THE HOLDER PRIOR TO THE EXPIRATION OF SUCH PERIOD WITHOUT THE CONSENT OF THE COMPANY OR THE MANAGING
UNDERWRITER.

 

(b)            Stop-Transfer
Notices. Participant agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate
 “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may
make appropriate notations to the same effect in its own records.

 

(c)            Refusal
to Transfer. The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred
in violation of any of the provisions of this Exercise Notice or (ii) to treat as owner of such Shares or to accord the right to
vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred.

 

10.            Successors
and Assigns. The Company may assign any of its rights under this Exercise Notice to single or multiple assignees, and this Exercise
Notice shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth,
this Exercise Notice shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns.

 

11.            Interpretation.
Any dispute regarding the interpretation of this Exercise Notice shall be submitted by Participant or by the Company forthwith to the
Administrator, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall
be final and binding on all parties.

 

12.            Governing
Law; Severability. This Exercise Notice is governed by the internal substantive laws, but not the choice of law rules, of Texas. In
the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void,
this Exercise Notice shall continue in full force and effect.

 

13.            Entire
Agreement. The Plan and Option Agreement are incorporated herein by reference. This Exercise Notice, the Plan, the Option Agreement
and the Investment Representation Statement constitute the entire agreement of the parties with respect to the subject matter hereof and
supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof,
and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and Participant.

 

(signature page follows)

 

    	 	-4-	 

     

    

 

	Submitted by:	 	Accepted by:
	 	 	 
	PARTICIPANT	 	bRIVO,INC.
	 	 	 
	 	 	 
	Signature	 	By
	 	 	 
	 	 	 
	Print Name	 	Print Name
	 	 	 
	 	 	 
		 	Title
	 	 	 
	Address:	 	Address:
	 	 	 
	 	 	7700 Old
    Georgetown Rd, Suite 300
	 	 	 
	 	 	Bethesda, MD 20814
	 	 	 
	 	 	 
	 	 	Date Received

 

    	 	-5-	 

     

    

 

EXHIBIT B

 

INVESTMENT REPRESENTATION STATEMENT

 

	PARTICIPANT	     :	 
	 	 	 
	COMPANY	     : 	BRIVO,INC.
	 	 	 
	SECURITY	     :	CLASS A COMMON STOCK
	 	 	 
	AMOUNT	     :	 
	 	 	 
	DATE	     :	 

 

In connection with the purchase
of the above-listed Securities, the undersigned Participant represents to the Company the following:

 

(a)            Participant
is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to
reach an informed and knowledgeable decision to acquire the Securities. Participant is acquiring these Securities for investment for Participant’s
own account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of
the Securities Act of 1933, as amended (the “Securities Act”).

 

(b)            Participant
acknowledges and understands that the Securities constitute “restricted securities” under the Securities Act and have not
been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things,
the bona fide nature of Participant’s investment intent as expressed herein. In this connection, Participant understands that, in
the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Participant’s representation
was predicated solely upon a present intention to hold these Securities for the minimum capital gains period specified under tax statutes,
for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one (1) year
or any other fixed period in the future. Participant further understands that the Securities must be held indefinitely unless they are
subsequently registered under the Securities Act or an exemption from such registration is available. Participant further acknowledges
and understands that the Company is under no obligation to register the Securities. Participant understands that the certificate evidencing
the Securities shall be imprinted with any legend required under applicable state securities laws.

 

(c)            Participant
is familiar with the provisions of Rule 701 and Rule 144, each promulgated under the Securities Act, which, in substance, permit
limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public
offering subject to the satisfaction of certain conditions. Rule 701 provides that if the issuer qualifies under Rule 701 at
the time of the grant of the Option to Participant, the exercise shall be exempt from registration under the Securities Act. In the event
the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, ninety (90)
days thereafter (or such longer period as any market stand-off agreement may require) the Securities exempt under Rule 701 may be
resold, subject to the satisfaction of the applicable conditions specified by Rule 144, including in the case of affiliates (1) the
availability of certain public information about the Company, (2) the amount of Securities being sold during any three (3) month
period not exceeding specified limitations, (3) the resale being made in an unsolicited “broker’s transaction”,
transactions directly with a “market maker” or “riskless principal transactions” (as those terms are defined
under the Securities Exchange Act of 1934) and (4) the timely filing of a Form 144, if applicable.

 

    	 	 	 

     

    

 

In the event that the Company
does not qualify under Rule 701 at the time of grant of the Option, then the Securities may be resold in certain limited circumstances
subject to the provisions of Rule 144, which may require (i) the availability of current public information about the Company;
(ii) the resale to occur more than a specified period after the purchase and full payment (within the meaning of Rule 144) for
the Securities; and (iii) in the case of the sale of Securities by an affiliate, the satisfaction of the conditions set forth in
sections (2), (3) and (4) of the paragraph immediately above.

 

(d)            Participant
further understands that in the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration under
the Securities Act, compliance with Regulation A, or some other registration exemption shall be required; and that, notwithstanding the
fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that
persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rules 144
or 701 shall have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales,
and that such persons and their respective brokers who participate in such transactions do so at their own risk. Participant understands
that no assurances can be given that any such other registration exemption shall be available in such event.

 

	 	PARTICIPANT
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Print Name
	 	 
	 	 
	 	Date

 

    	 	-2-	 

     

    

 

EXHIBIT C-1

 

ASSIGNMENT SEPARATE FROM CERTIFICATE

 

FOR VALUE RECEIVED I, __________________________,
hereby sell, assign and transfer unto Brivo, Inc. _____________ shares of the Class A Common Stock of Brivo, Inc. standing
in my name on the books of said corporation represented by Certificate No. _____ herewith and do hereby irrevocably constitute and
appoint __________________________ to transfer the said stock on the books of the within named corporation with full power of substitution
in the premises.

 

This Stock Assignment may
be used only in accordance with the Exercise Notice between Brivo, Inc. and the undersigned dated ______________, _____.

 

	Dated: _______________,____	Signature:	 

 

INSTRUCTIONS: Please do not fill in any
blanks other than the signature line. The purpose of this assignment is to enable the Company to exercise its “repurchase option,”
as set forth in the Exercise Notice, without requiring additional signatures on the part of the Participant.

 

    	 	 	 

     

    

 

EXHIBIT C-2

 

JOINT ESCROW INSTRUCTIONS

 

_________________, ____

 

Corporate Secretary

Brivo, Inc.

7700 Old Georgetown Road

Suite 300

Bethesda, MD 20814

 

Dear _________________:

 

As Escrow Agent for both Brivo, Inc.
(the “Company”), and the undersigned purchaser of stock of the Company (the “Participant”), you are hereby authorized
and directed to hold the documents delivered to you pursuant to the terms of that certain Exercise Notice between the Company and the
undersigned dated ______________, _____ (the “Agreement”), in accordance with the following instructions:

 

1.            In
the event the Company and/or any assignee of the Company (referred to collectively for convenience herein as the “Company”)
exercises the Company’s repurchase option set forth in the Agreement, the Company shall give to Participant and you a written notice
specifying the number of shares of stock to be purchased, the purchase price, and the time for a closing hereunder at the principal office
of the Company. Participant and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such
notice in accordance with the terms of said notice.

 

2.            At
the closing, you are directed (a) to date the stock assignments necessary for the transfer in question, (b) to fill in the number
of shares being transferred, and (c) to deliver the stock assignments, together with the certificate evidencing the shares of stock
to be transferred, to the Company or its assignee, against the simultaneous delivery to you of the purchase price (by cash, a check, or
some combination thereof) for the number of shares of stock being purchased pursuant to the exercise of the Company’s repurchase
option.

 

3.            Participant
irrevocably authorizes the Company to deposit with you any certificates evidencing shares of stock to be held by you hereunder and any
additions and substitutions to said shares as defined in the Agreement. Participant does hereby irrevocably constitute and appoint you
as Participant’s attorney-in-fact and agent for the term of this escrow to execute with respect to such securities all documents
necessary or appropriate to make such securities negotiable and to complete any transaction herein contemplated, including but not limited
to the filing with any applicable state blue sky authority of any required applications for consent to, or notice of transfer of, the
securities. Subject to the provisions of this paragraph 3, Participant shall exercise all rights and privileges of a stockholder
of the Company while the stock is held by you.

 

4.            Within
one hundred and twenty (120) days after cessation of Participant’s continuous service with the Company, or any parent or subsidiary
of the Company, you shall deliver to Participant a certificate or certificates representing the aggregate number of shares held or issued
pursuant to the Agreement and not purchased by the Company or its assignees pursuant to exercise of the Company’s repurchase option.

 

    	 	 	 

     

    

 

5.            If
at the time of termination of this escrow you should have in your possession any documents, securities, or other property belonging to
Participant, you shall deliver all of the same to Participant and shall be discharged of all further obligations hereunder.

 

6.            Your
duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto.

 

7.            You
shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be protected in
relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the
proper party or parties. You shall not be personally liable for any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact
for Participant while acting in good faith, and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive
evidence of such good faith.

 

8.            You
are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person or corporation,
excepting only orders or process of courts of law and are hereby expressly authorized to comply with and obey orders, judgments or decrees
of any court. In case you obey or comply with any such order, judgment or decree, you shall not be liable to any of the parties hereto
or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently
reversed, modified, annulled, set aside, vacated or found to have been entered without jurisdiction.

 

9.            You
shall not be liable in any respect on account of the identity, authorities or rights of the parties executing or delivering or purporting
to execute or deliver the Agreement or any documents or papers deposited or called for hereunder.

 

10.            You
shall not be liable for the outlawing of any rights under the Statute of Limitations with respect to these Joint Escrow Instructions or
any documents deposited with you.

 

11.            You
shall be entitled to employ such legal counsel and other experts as you may deem necessary properly to advise you in connection with your
obligations hereunder, may rely upon the advice of such counsel, and may pay such counsel reasonable compensation therefor.

 

12.            Your
responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be an officer or agent of the Company or if you shall
resign by written notice to each party. In the event of any such termination, the Company shall appoint a successor Escrow Agent.

 

13.            If
you reasonably require other or further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto,
the necessary parties hereto shall join in furnishing such instruments.

 

    	 	-2-	 

     

    

 

14.            It
is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of the securities
held by you hereunder, you are authorized and directed to retain in your possession without liability to anyone all or any part of said
securities until such disputes shall have been settled either by mutual written agreement of the parties concerned or by a final order,
decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you
shall be under no duty whatsoever to institute or defend any such proceedings.

 

15.            Any
notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon
deposit in the United States Post Office, by registered or certified mail with postage and fees prepaid, addressed to each of the other
parties thereunto entitled at the following addresses or at such other addresses as a party may designate by ten (10) days advance
written notice to each of the other parties hereto.

 

16.            By
signing these Joint Escrow Instructions, you become a party hereto only for the purpose of said Joint Escrow Instructions; you do not
become a party to the Agreement.

 

17.            This
instrument shall be binding upon and inure to the benefit of the parties hereto, and their respective successors and permitted assigns.

 

18.            These
Joint Escrow Instructions shall be governed by the internal substantive laws, but not the choice of law rules, of Delaware.

 

	PARTICIPANT	 	bRIVO,INC.
	 	 	 
	 	 	 
	Signature	 	By
	 	 	 
	 	 	 
	Print Name	 	Print Name
	 	 	 
	 	 	 
		 	Title
	 	 	 
	 	 	 
	Residence Address	 	
	 	 	 
	ESCROW AGENT	 	
	 	 	 
	 	 	
	Corporate Secretary	 	 
	 	 	 
	Dated:	 	 	

 

  

    	 	-3-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}]]