Document:

Exhibit
10.9

 

AST
SPACEMOBILE, INC.

2020 EMPLOYEE STOCK PURCHASE PLAN

 

Article
I.

PURPOSE

 

The
purpose of this Plan is to assist Eligible Employees of the Company and its Designated Subsidiaries in acquiring a stock ownership
interest in the Company.

 

The
Plan consists of two components: (i) the Section 423 Component and (ii) the Non-Section 423 Component. The Section 423 Component
is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code and shall be administered,
interpreted and construed in a manner consistent with the requirements of Section 423 of the Code. The Non-Section 423 Component
authorizes the grant of rights which need not qualify as rights granted pursuant to an “employee stock purchase plan”
under Section 423 of the Code. Rights granted under the Non-Section 423 Component shall be granted pursuant to separate Offerings
containing such sub-plans, appendices, rules or procedures as may be adopted by the Administrator and designed to achieve tax,
securities laws or other objectives for Eligible Employees and Designated Subsidiaries but shall not be intended to qualify as
an “employee stock purchase plan” under Section 423 of the Code. Except as otherwise determined by the Administrator
or provided herein, the Non-Section 423 Component will operate and be administered in the same manner as the Section 423 Component.
Offerings intended to be made under the Non-Section 423 Component will be designated as such by the Administrator at or prior
to the time of such Offering.

 

For
purposes of this Plan, the Administrator may designate separate Offerings under the Plan in which Eligible Employees will participate.
The terms of these Offerings need not be identical, even if the dates of the applicable Offering Period(s) in each such Offering
are identical, provided that the terms of participation are the same within each separate Offering under the Section 423 Component
(as determined under Section 423 of the Code). Solely by way of example and without limiting the foregoing, the Company could,
but shall not be required to, provide for simultaneous Offerings under the Section 423 Component and the Non-Section 423 Component
of the Plan.

 

Article
II.

DEFINITIONS AND CONSTRUCTION

 

Wherever
the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise.

 

2.1
“Administrator” means the entity that conducts the general administration of the Plan as provided in
Article XI.

 

2.2
“Agent” means the brokerage firm, bank or other financial institution, entity or person(s), if any,
engaged, retained, appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan.

 

2.3
“Applicable Law” means the requirements relating to the administration of equity incentive plans under
U.S. federal and state securities, tax and other applicable laws, rules and regulations, the applicable rules of any stock exchange
or quotation system on which Shares are listed or quoted and the applicable laws and rules of any foreign country or other jurisdiction
where rights under this Plan are granted.

 

2.4
“Board” means the Board of Directors of the Company.

 

    	 

     

    

 

2.5
“Business Combination” means the transaction pursuant to which, among other transactions, (i) New Providence
Acquisition Corp. (predecessor to the Company) will acquire a number of membership units in and become the managing member of
AST & Science LLC, (ii) the Company will issue to the existing equityholders of AST & Science LLC capital stock in the
Company and (iii) the Company will become a publicly-traded holding company of the business of AST & Science LLC, pursuant
to that certain transaction agreement, dated as of December 15, 2020, by and among the Company, AST & Science LLC, New Providence
Management, LLC, the Existing Equityholders set forth on Annex A thereto and the Equityholder Representative (as defined therein).

 

2.6
“Code” means the U.S. Internal Revenue Code of 1986, as amended, and the regulations issued thereunder.

 

2.7
“Common Stock” means the Class A common stock of the Company and such other securities of the Company
that may be substituted therefore.

 

2.8
“Company” means AST SpaceMobile, Inc., a Delaware corporation, or any successor.

 

2.9
“Compensation” of an Eligible Employee means, unless otherwise determined by the Administrator, the
gross cash compensation paid by the Company or its Subsidiary (as applicable) to such Eligible Employee as compensation for services
to the Company or any Designated Subsidiary, including for clarity, any prior-week adjustments; commissions; cash incentive compensation
and one-time bonuses (e.g., retention or sign on bonuses); overtime payments; or compensation paid by the Company or any Designated
Subsidiary in respect of periods of absence from work; and excluding any education or tuition reimbursements; travel expenses;
business and moving reimbursements; income received in connection with any stock options, stock appreciation rights, restricted
stock, restricted stock units or other compensatory equity awards; fringe benefits; other special payments and all contributions
made by the Company or any Designated Subsidiary for the Employee’s benefit under any employee benefit plan now or hereafter
established.

 

2.10
“Designated Beneficiary” means the beneficiary or beneficiaries the Participant designates, in a manner
the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes
incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s
estate.

 

2.11
“Designated Subsidiary” means any Subsidiary designated by the Administrator in accordance with Section
11.2(b), such designation to specify whether such participation is in the Section 423 Component or Non-Section 423 Component.
A Designated Subsidiary may participate in either the Section 423 Component or Non-Section 423 Component, but not both; provided
that a Subsidiary that, for U.S. tax purposes, is disregarded from the Company or any Subsidiary that participates in the
Section 423 Component shall automatically constitute a Designated Subsidiary that participates in the Section 423 Component.

 

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2.12
“Eligible Employee” means an Employee who does not, immediately after any rights under this Plan are
granted, own (directly or through attribution) stock possessing 5% or more of the total combined voting power or value of all
classes of Shares and other securities of the Company, a Parent or a Subsidiary (as determined under Section 423(b)(3) of the
Code). For purposes of the foregoing, the rules of Section 424(d) of the Code with regard to the attribution of stock ownership
shall apply in determining the stock ownership of an individual, and stock that an Employee may purchase under outstanding options
shall be treated as stock owned by the Employee. Notwithstanding the foregoing, the Administrator may provide in an Offering Document
that an Employee shall not be eligible to participate in an Offering Period under the Section 423 Component if: (i) such Employee
is a highly compensated employee within the meaning of Section 423(b)(4)(D) of the Code; (ii) such Employee has not met a service
requirement designated by the Administrator pursuant to Section 423(b)(4)(A) of the Code (which service requirement may not exceed
two years); (iii) such Employee’s customary employment is for twenty hours per week or less; (iv) such Employee’s
customary employment is for less than five months in any calendar year; and/or (v) such Employee is a citizen or resident of a
foreign jurisdiction and the grant of a right to purchase Shares under the Plan to such Employee would be prohibited under the
laws of such foreign jurisdiction or the grant of a right to purchase Shares under the Plan to such Employee in compliance with
the laws of such foreign jurisdiction would cause the Plan to violate the requirements of Section 423 of the Code, as determined
by the Administrator in its sole discretion; provided, that any exclusion in clauses (i), (ii), (iii), (iv) or (v) shall
be applied in an identical manner under each Offering Period to all Employees, in accordance with Treasury Regulation Section
1.423-2(e).

 

Further
notwithstanding the foregoing, with respect to the Non-Section 423 Component, the first sentence in this definition shall apply
in determining who is an “Eligible Employee,” except (A) the Administrator may further limit eligibility within the
Company or within a Designated Subsidiary so as to only designate certain Employees of the Company or of a Designated Subsidiary
as “Eligible Employees”, and (B) to the extent the restrictions in the first sentence in this definition are not consistent
with any applicable local law, such applicable local law shall control.

 

2.13
“Employee” means any individual who renders services to the Company or any Designated Subsidiary in
the status of an employee, and, with respect to the Section 423 Component, a person who is an employee within the meaning of Section
3401(c) of the Code. For purposes of an individual’s participation in, or other rights under the Plan, all determinations
by the Company shall be final, binding and conclusive, notwithstanding that any court of law or governmental agency subsequently
makes a contrary determination. For purposes of the Plan, the employment relationship shall be treated as continuing intact while
the individual is on sick leave or other leave of absence approved by the Company or Designated Subsidiary and meeting the requirements
of Treasury Regulation Section 1.421-1(h)(2). Where the period of leave exceeds three months and the individual’s right
to reemployment is not guaranteed either by statute or by contract, the employment relationship shall be deemed to have terminated
on the first day immediately following such three-month period.

 

2.14
“Enrollment Date” means, unless otherwise determined by the Administrator and set forth in the Offering
Document, the first Trading Day of each Offering Period.

 

2.15
“Fair Market Value” means, as of any date, the value of Shares determined as follows: (i) if the Shares
are listed on any established stock exchange, its Fair Market Value will be the closing sales price for such Shares as quoted
on such exchange for such date, or if no sale occurred on such date, the last day preceding such date during which a sale occurred,
as reported in The Wall Street Journal or another source the Administrator deems reliable; (ii) if the Shares are not traded on
a stock exchange but are quoted on a national market or other quotation system, the closing sales price on such date, or if no
sales occurred on such date, then on the last date preceding such date during which a sale occurred, as reported in The Wall
Street Journal or another source the Administrator deems reliable; or (iii) without an established market for the Shares,
the Administrator will determine the Fair Market Value in good faith.

 

2.16
“Non-Section 423 Component” means those Offerings under the Plan, together with the sub-plans, appendices,
rules or procedures, if any, adopted by the Administrator as a part of this Plan, in each case, pursuant to which rights to purchase
Shares during an Offering Period may be granted to Eligible Employees that need not satisfy the requirements for rights to purchase
Shares granted pursuant to an “employee stock purchase plan” that are set forth under Section 423 of the Code.

 

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2.17
“Offering” means an offer by the Company under the Plan to Eligible Employees of a right to purchase
Shares that may be exercised during an Offering Period, as further described in Article IV hereof. Unless otherwise specified
by the Administrator, each Offering to the Eligible Employees of the Company or a Designated Subsidiary shall be deemed a separate
Offering, even if the dates and other terms of the applicable Offering Periods of each such Offering are identical, and the provisions
of the Plan will separately apply to each Offering. To the extent permitted by Treasury Regulation § 1.423-2(a)(1), the terms
of each separate Offering under the Section 423 Component need not be identical, provided that the terms of the Section 423 Component
and an Offering thereunder together satisfy Treasury Regulation § 1.423-2(a)(2) and (a)(3).

 

2.18
“Offering Document” has the meaning given to such term in Section 4.1.

 

2.19
“Offering Period” has the meaning given to such term in Section 4.1.

 

2.20
“Parent” means any corporation, other than the Company, in an unbroken chain of corporations ending
with the Company if, at the time of the determination, each of the corporations other than the Company owns stock possessing 50%
or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

 

2.21
“Participant” means any Eligible Employee who has executed a subscription agreement and been granted
rights to purchase Shares pursuant to the Plan.

 

2.22
“Payday” means the regular and recurring established day for payment of Compensation to an Employee
of the Company or any Designated Subsidiary.

 

2.23
“Plan” means this 2020 Employee Stock Purchase Plan, including both the Section 423 Component and Non-Section
423 Component and any other sub-plans or appendices hereto, as amended from time to time.

 

2.24
“Purchase Date” means the last Trading Day of each Purchase Period (or, in the event no Purchase Period
is designated by the Administrator in the applicable Offering Document, the last day of each Offering Period) or such other date
as determined by the Administrator and set forth in the Offering Document.

 

2.25
“Purchase Period” shall refer to one or more specified periods within an Offering Period the last Trading
Day of which constitutes a Purchase Date, as designated in the applicable Offering Document; provided, however,
that, if no Purchase Period is designated by the Administrator in the applicable Offering Document, the Purchase Period for each
Offering Period covered by such Offering Document shall be the same as the applicable Offering Period.

 

2.26
“Purchase Price” means the purchase price designated by the Administrator in the applicable Offering
Document (which purchase price, for purposes of the Section 423 Component, shall not be less than 85% of the Fair Market Value
of a Share on the Enrollment Date or on the Purchase Date, whichever is lower); provided, however, that, if no purchase
price is designated by the Administrator in the applicable Offering Document, the purchase price for the Offering Periods covered
by such Offering Document shall be 85% of the Fair Market Value of a Share on the Enrollment Date or on the Purchase Date, whichever
is lower; provided, further, that the Purchase Price may be adjusted by the Administrator pursuant to Article VIII and
shall not be less than the par value of a Share.

 

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2.27
“Section 423 Component” means those Offerings under the Plan, together with the sub-plans, appendices,
rules or procedures, if any, adopted by the Administrator as a part of this Plan or any Offering(s), in each case, pursuant to
which rights to purchase Shares during an Offering Period may be granted to Eligible Employees that are intended to satisfy the
requirements for rights to purchase Shares granted pursuant to an “employee stock purchase plan” that are set forth
under Section 423 of the Code.

 

2.28
“Securities Act” means the U.S. Securities Act of 1933, as amended.

 

2.29
“Share” means a share of Common Stock.

 

2.30
“Subsidiary” means any corporation, other than the Company, in an unbroken chain of corporations beginning
with the Company if, at the time of the determination, each of the corporations other than the last corporation in an unbroken
chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations
in such chain; provided, however, that a limited liability company or partnership may be treated as a Subsidiary to the
extent either (a) such entity is treated as a disregarded entity under Treasury Regulation Section 301.7701-3(a) by reason of
the Company or any other Subsidiary that is a corporation being the sole owner of such entity, or (b) such entity elects to be
classified as a corporation under Treasury Regulation Section 301.7701-3(a) and such entity would otherwise qualify as a Subsidiary.
In addition, with respect to the Non-Section 423 Component, Subsidiary shall include any corporate or non-corporate entity in
which the Company has a direct or indirect equity interest or significant business relationship.

 

2.31
“Trading Day” means a day on which national stock exchanges in the United States are open for trading.

 

Article
III.

SHARES SUBJECT TO THE PLAN

 

3.1
Number of Shares. Subject to Article VIII, the aggregate number of Shares that may be issued pursuant to rights granted
under the Plan shall be 2,000,000 Shares. If any right granted under the Plan shall for any reason terminate without having been
exercised, the Shares not purchased under such right shall again become available for issuance under the Plan. Notwithstanding
anything in this Section 3.1 to the contrary, the number of Shares that may be issued or transferred pursuant to the rights granted
under the Section 423 Component of the Plan shall not exceed an aggregate of 2,000,000 Shares, subject to Article VIII.

 

3.2
Shares Distributed. Any Shares distributed pursuant to the Plan may consist, in whole or in part, of authorized and unissued
Shares, treasury shares or Shares purchased on the open market.

 

Article
IV.

Offering Periods; Offering Documents; Purchase Dates

 

4.1
Offering Periods. The Administrator may from time to time grant or provide for the grant of rights to purchase Shares under
the Plan to Eligible Employees during one or more periods (each, an “Offering Period”) selected by the
Administrator. The terms and conditions applicable to each Offering Period shall be set forth in an “Offering Document”
adopted by the Administrator from time to time, which Offering Document shall be in such form and shall contain such terms and
conditions as the Administrator shall deem appropriate and shall be incorporated by reference into and made part of the Plan.
The Administrator shall establish in each Offering Document one or more Purchase Periods within such Offering Period during which
rights granted under the Plan shall be exercised and purchases of Shares carried out in accordance with such Offering Document
and the Plan. The provisions of separate Offerings or Offering Periods under the Plan may be partially or wholly concurrent and
need not be identical.

 

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4.2
Offering Documents. Each Offering Document with respect to an Offering Period shall specify (through incorporation of the
provisions of this Plan by reference or otherwise):

 

(a)
the length of the Offering Period, which period shall not exceed twenty-seven months;

 

(b)
the length of the Purchase Period(s) within the Offering Period, which period(s), in the absence of a contrary designation by
the Administrator, shall not exceed six months (or, in the event no Purchase Period is designated by the Administrator in the
applicable Offering Document, twenty-seven months);

 

(c)
in connection with each Offering Period that contains more than one Purchase Period, any applicable maximum aggregate number of
Shares which may be purchased by any Eligible Employee during each Purchase Period (if applicable), subject to the limitations
described in Section 5.5 below, which shall apply to all Section 423 Component Offering Periods and, in the absence of a contrary
designation by the Administrator, shall be 100,000 Shares;

 

(d)
any applicable maximum number of Shares that may be purchased by any Eligible Employee during such Offering Period (if applicable),
subject to the limitations described in Section 5.5 below, which shall apply to all Section 423 Component Offering Periods and,
in the absence of a contrary designation by the Administrator, shall be 100,000 Shares; and

 

(e)
such other provisions as the Administrator determines are appropriate, subject to the Plan.

 

Article
V.

ELIGIBILITY AND PARTICIPATION

 

5.1
Eligibility. Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary on a given Enrollment
Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements
of this Article V and, for the Section 423 Component, the limitations imposed by Section 423(b) of the Code.

 

5.2
Enrollment in Plan.

 

(a)
Except as otherwise set forth herein or in an Offering Document or determined by the Administrator, an Eligible Employee may become
a Participant in the Plan for an Offering Period by delivering a subscription agreement to the Company by such time prior to the
Enrollment Date for such Offering Period (or such other date specified in the Offering Document) designated by the Administrator
and in such form as the Company provides.

 

(b)
Each subscription agreement shall designate a whole percentage of such Eligible Employee’s Compensation to be withheld by
the Company or the Designated Subsidiary employing such Eligible Employee on each Payday during the Offering Period as payroll
deductions under the Plan. The percentage of Compensation designated by an Eligible Employee may not be less than 1% and may not
be more than the maximum percentage specified by the Administrator in the applicable Offering Document (which maximum percentage
shall be 15% in the absence of any such designation) as payroll deductions, provided that, in no event shall the actual
amount withheld on any Payday hereunder exceed the net amount payable to the Eligible Employee on such Payday after taxes and
any other applicable deductions therefrom (and if amounts to be withheld hereunder would otherwise result in a negative payment
to the Eligible Employee on such Payday, the amount to be withheld hereunder shall instead be reduced by the least amount necessary
to avoid a negative payment amount for the Eligible Employee on such Payday, as determined by the Administrator). The payroll
deductions made for each Participant shall be credited to an account for such Participant under the Plan and shall be deposited
with the general funds of the Company.

 

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(c)
Unless otherwise provided in the terms of an Offering Document, a Participant may increase or decrease the percentage of Compensation
designated in his or her subscription agreement, subject to the limits of this Section 5.2, or may suspend his or her payroll
deductions, in any case, at any time during an Offering Period; provided, however, that the Administrator may limit or
eliminate the type and/or number of changes a Participant may make to his or her payroll deduction elections during each Offering
Period in the applicable Offering Document (and in the absence of any specific designation by the Administrator, a Participant
shall be allowed to decrease (but not increase)1 or suspend his or her payroll deduction elections, in either
case, once during each Offering Period). Any such change or suspension of payroll deductions shall be effective with the first
full payroll period starting at least five business days after the Company’s receipt of the new subscription agreement (or
such shorter or longer period as may be specified by the Administrator in the applicable Offering Document). If a Participant
suspends his or her payroll deductions during an Offering Period: (i) such Participant’s cumulative unapplied payroll deductions
prior to the suspension (if any) shall remain in his or her account and shall be applied to the purchase of Shares on the next
occurring Purchase Date, and (ii) such Participant shall be deemed to have withdrawn from the Offering Period for all purposes
upon such Purchase Date (and shall be eligible to enroll in any Offering Period commencing on or after such Purchase Date if he
or she remains an Eligible Employee as of the start of any such subsequent Offering Period and timely submits a valid election
to participate). For clarity, if a Participant who suspends participation in an Offering Period ceases to be an Eligible Employee
or he or she withdraws from participation in such Offering Period, in either case, prior to the Purchase Date next-following his
or her suspension of participation in the Offering Period, in any case, such Participant’s cumulative unapplied payroll
deductions shall be returned to him or her in accordance with Article VII.

 

(d)
Except as otherwise set forth in herein or in an Offering Document or as otherwise determined by the Administrator, a Participant
may participate in the Plan only by means of payroll deduction and may not make contributions by lump sum payment for any Offering
Period.

 

5.3
Payroll Deductions. Except as otherwise provided herein or in the applicable Offering Document, payroll deductions for
a Participant shall commence on the first Payday following the Enrollment Date and shall end on the last Payday in the Offering
Period to which the Participant’s authorization is applicable, unless sooner terminated by the Participant as provided in
Article VII or suspended by the Participant or the Administrator as provided in Section 5.2 and Section 5.6, respectively. Notwithstanding
any other provisions of the Plan to the contrary, the Administrator may provide, including in any non-U.S. jurisdiction where
participation in the Plan through payroll deductions is prohibited, that Eligible Employees may elect to participate through contributions
to the Participant’s account under the Plan in a form acceptable to the Administrator in lieu of or in addition to payroll
deductions; provided, however, that, for any Offering under the Section 423 Component, the Administrator shall take into
consideration any limitations under Section 423 of the Code when applying an alternative method of contribution.

 

5.4
Effect of Enrollment. A Participant’s completion of a subscription agreement or other enrollment in the Offering
Period will enroll such Participant in the Plan for each subsequent Offering Period on the terms contained therein until the Participant
either submits a new subscription agreement, withdraws from participation under the Plan as provided in Article VII or otherwise
becomes ineligible to participate in the Plan.

 

 

1 Note that the ability to increase Compensation deductions
can increase accounting charges – accordingly, we have set the default to only permit decreases in contribution levels during
an Offering Period (but this can be overridden by the terms of the Offering document).

 

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5.5
Limitation on Purchase of Shares. An Eligible Employee may be granted rights under the Section 423 Component only if such
rights, together with any other rights granted to such Eligible Employee under “employee stock purchase plans” of
the Company, any Parent or any Subsidiary, as specified by Section 423(b)(8) of the Code, do not permit such employee’s
rights to purchase stock of the Company or any Parent or Subsidiary to accrue at a rate that exceeds $25,000 of the fair market
value of such stock (determined as of the first day of the Offering Period during which such rights are granted) for each calendar
year in which such rights are outstanding at any time. This limitation shall be applied in accordance with Section 423(b)(8) of
the Code.

 

5.6
Suspension of Payroll Deductions. Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8)
of the Code and Section 5.5 (with respect to the Section 423 Component) or the other limitations set forth in this Plan, a Participant’s
payroll deductions may be suspended by the Administrator at any time during an Offering Period. The balance of the amount credited
to the account of each Participant that has not been applied to the purchase of Shares by reason of Section 423(b)(8) of the Code,
Section 5.5 or the other limitations set forth in this Plan shall be paid to such Participant in one lump sum in cash as soon
as reasonably practicable after the Purchase Date.

 

5.7
Foreign Employees. In order to facilitate participation in the Plan, the Administrator may provide for such special terms,
rules and procedures applicable to Participants who are citizens or residents of a foreign jurisdiction, or who are employed by
a Designated Subsidiary outside of the United States, as the Administrator may consider necessary or appropriate to accommodate
differences in local law, tax policy or custom. Except as permitted by Section 423 of the Code, with respect to the Section 423
Component, such special terms may not be more favorable than the terms of rights granted under the Section 423 Component to Eligible
Employees who are residents of the United States. Such special terms may be set forth in an addendum to the Plan in the form of
an appendix or sub-plan (which appendix or sub-plan may be designed to govern Offerings under the Section 423 Component or the
Non-Section 423 Component, as determined by the Administrator). To the extent that the terms and conditions set forth in an appendix
or sub-plan conflict with any provisions of the Plan, the provisions of the appendix or sub-plan shall govern except as otherwise
set forth therein. The adoption of any such appendix or sub-plan shall be pursuant to Section 11.2(f) and any other applicable
provision herein. Without limiting the foregoing, the Administrator is specifically authorized to adopt rules and procedures,
with respect to Participants who are foreign nationals or employed in non-U.S. jurisdictions, regarding the exclusion of particular
Subsidiaries from participation in the Plan, eligibility to participate, the definition of Compensation, handling of payroll deductions
or other contributions by Participants, payment of interest, conversion of local currency, data privacy security, payroll tax,
withholding procedures, establishment of bank or trust accounts to hold payroll deductions or contributions.

 

5.8
Leave of Absence. During leaves of absence approved by the Company meeting the requirements of Treasury Regulation Section
1.421-1(h)(2) under the Code, unless otherwise set forth in the terms of an Offering Document, a Participant may continue participation
in the Plan by making cash payments to the Company on his or her normal Payday equal to the Participant’s authorized payroll
deduction.

 

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Article
VI.

grant and Exercise of rights

 

6.1
Grant of Rights. On the Enrollment Date of each Offering Period, each Eligible Employee participating in such Offering
Period shall be granted a right to purchase the maximum number of Shares specified under Section 4.2, subject to the limits in
Section 5.5, and shall have the right to buy, on each Purchase Date during such Offering Period (at the applicable Purchase Price),
such number of whole Shares as is determined by dividing (a) such Participant’s payroll deductions accumulated prior to
such Purchase Date and retained in the Participant’s account as of the Purchase Date, by (b) the applicable Purchase Price
(rounded down to the nearest Share). The right shall expire on the last day of the Offering Period, or if earlier, the date on
which the Participant withdraws in accordance with Section 7.1 or Section 7.3.

 

6.2
Exercise of Rights. On each Purchase Date, each Participant’s accumulated payroll deductions and any other additional
payments specifically provided for herein or in the applicable Offering Document will be applied to the purchase of whole Shares,
up to the maximum number of Shares permitted pursuant to the terms of the Plan and the applicable Offering Document, at the Purchase
Price. No fractional Shares shall be issued upon the exercise of rights granted under the Plan, unless the Offering Document specifically
provides otherwise. Any cash in lieu of fractional Shares remaining after the purchase of whole Shares upon exercise of a purchase
right will be credited to a Participant’s account and carried forward and applied toward the purchase of whole Shares for
the next following Offering Period. Shares issued pursuant to the Plan may be evidenced in such manner as the Administrator may
determine and may be issued in certificated form or issued pursuant to book-entry procedures.

 

6.3
Pro Rata Allocation of Shares. If the Administrator determines that, on a given Purchase Date, the number of Shares with
respect to which rights are to be exercised may exceed (a) the number of Shares that were available for issuance under the Plan
on the Enrollment Date of the applicable Offering Period, or (b) the number of Shares available for issuance under the Plan on
such Purchase Date, the Administrator may in its sole discretion provide that the Company shall make a pro rata allocation of
the Shares available for purchase on such Enrollment Date or Purchase Date, as applicable, in as uniform a manner as shall be
practicable and as it shall determine in its sole discretion to be equitable among all Participants for whom rights to purchase
Shares are to be exercised pursuant to this Article VI on such Purchase Date, and shall either (i) continue all Offering Periods
then in effect, or (ii) terminate any or all Offering Periods then in effect pursuant to Article IX. The Company may make pro
rata allocation of the Shares available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence,
notwithstanding any authorization of additional Shares for issuance under the Plan by the Company’s stockholders subsequent
to such Enrollment Date. The balance of the amount credited to the account of each Participant that has not been applied to the
purchase of Shares shall be paid to such Participant without interest in one lump sum in cash as soon as reasonably practicable
after the Purchase Date, or such earlier date as determined by the Administrator.

 

6.4
Withholding. At the time a Participant’s rights under the Plan are exercised, in whole or in part, or at the time
some or all of the Shares issued under the Plan is disposed of, the Participant must make adequate provision for the Company’s
federal, state, or other tax withholding obligations, if any, that arise upon the exercise of the right or the disposition of
the Shares. At any time, the Company may, but shall not be obligated to, withhold from the Participant’s compensation or
Shares received pursuant to the Plan the amount necessary for the Company to meet applicable withholding obligations, including
any withholding required to make available to the Company any tax deductions or benefits attributable to sale or early disposition
of Shares by the Participant.

 

6.5 Conditions
to Issuance of Shares. The Company shall not be required to issue or deliver any certificate or certificates for, or make
any book entries evidencing, Shares purchased upon the exercise of rights under the Plan prior to fulfillment of all of the
following conditions: (a) the admission of such Shares to listing on all stock exchanges, if any, on which the Shares are
then listed; (b) the completion of any registration or other qualification of such Shares under any state or federal law or
under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, that
the Administrator shall, in its absolute discretion, deem necessary or advisable; (c) the obtaining of any approval or other
clearance from any state or federal governmental agency that the Administrator shall, in its absolute discretion, determine
to be necessary or advisable; (d) the payment to the Company of all amounts that it is required to withhold under federal,
state or local law upon exercise of the rights, if any; and (e) the lapse of such reasonable period of time following the
exercise of the rights as the Administrator may from time to time establish for reasons of administrative
convenience.

 

    	9

     

    

 

Article
VII.

WITHDRAWAL; CESSATION OF ELIGIBILITY

 

7.1
Withdrawal. A Participant may withdraw all but not less than all of the payroll deductions credited to his or her account
and not yet used to exercise his or her rights under the Plan at any time by giving written notice to the Company in a form acceptable
to the Company no later than two weeks prior to the end of the then-applicable Purchase Period (or such shorter or longer period
as may be specified by the Administrator in the applicable Offering Document). All of the Participant’s payroll deductions
credited to his or her account during such Purchase Period and not yet used to exercise rights under the Plan shall be paid to
such Participant as soon as reasonably practicable after receipt of notice of withdrawal, such Participant’s rights for
the Offering Period shall be automatically terminated, and no further payroll deductions for the purchase of Shares shall be made
for such Offering Period. If a Participant withdraws from an Offering Period (including by virtue of a suspension as described
in Section 5.2(c) above), payroll deductions shall not resume at the beginning of any subsequent Offering Period unless the Participant
is an Eligible Employee and timely delivers to the Company a new subscription agreement by the applicable enrollment deadline
for any such subsequent Offering Period, as determined by the Administrator.

 

7.2
Future Participation. A Participant’s withdrawal from an Offering Period shall not have any effect upon his or her
eligibility to participate in any similar plan that may hereafter be adopted by the Company or a Designated Subsidiary or in any
subsequent Offering Period that commences on or after the Participant’s withdrawal from any Offering Period.

 

7.3
Cessation of Eligibility. Upon a Participant’s ceasing to be an Eligible Employee for any reason, he or she shall
be deemed to have elected to withdraw from the Plan pursuant to this Article VII and the payroll deductions credited to such Participant’s
account during the then-current Purchase Period shall be paid to such Participant or, in the case of his or her death, to the
Participant’s Designated Beneficiary, as soon as reasonably practicable, and such Participant’s rights for the Offering
Period shall be automatically terminated. For clarity, if a Participant transfers employment from the Company or any Designated
Subsidiary participating in either the Section 423 Component or Non-Section 423 Component to any Designated Subsidiary that is
neither participating in the Section 423 Component nor the Non-Section 423 Component, then, in any case, such transfer shall be
treated as a termination of employment under the Plan and the Participant shall be deemed to have withdrawn from the Plan pursuant
to this Article VII and the payroll deductions credited to such Participant’s account during the then-current Purchase Period
shall be paid to such Participant or, in the case of his or her death, to the Participant’s Designated Beneficiary, as soon
as reasonably practicable, and such Participant’s participation in the Offering Period shall be automatically terminated.
If a Participant transfers employment from the Company or any Designated Subsidiary participating in the Section 423 Component
to any Designated Subsidiary participating in the Non-Section 423 Component, such transfer shall not be treated as a termination
of employment under the Plan, but the Participant shall immediately cease to participate in the Section 423 Component; however,
any contributions made for the then-current Purchase Period in which such transfer occurs shall be transferred to the Non-Section
423 Component, and such Participant shall immediately join the then-current Offering under the Non-Section 423 Component upon
the same terms and conditions in effect for the Participant’s participation in the Section 423 Component, except for such
modifications otherwise applicable for Participants in such Offering. A Participant who transfers employment from any Designated
Subsidiary participating in the Non-Section 423 Component to the Company or any Designated Subsidiary participating in the Section
423 Component shall not be treated as terminating the Participant’s employment under the Plan and shall remain a Participant
in the Non-Section 423 Component until the earlier of (i) the end of the current Offering Period under the Non-Section 423 Component
or (ii) the Enrollment Date of the first Offering Period in which the Participant is eligible to participate following such transfer.
Notwithstanding the foregoing, the Administrator may establish different rules to govern transfers of employment between entities
participating in the Section 423 Component and the Non-Section 423 Component, consistent with the applicable requirements of Section
423 of the Code or other Applicable Law.

 

    	10

     

    

 

Article
VIII.

Adjustments upon Changes in SHARES

 

8.1
Changes in Capitalization. Subject to Section 8.3, in the event that the Administrator determines that any dividend or
other distribution (whether in the form of cash, Shares, other securities, or other property), change in control, reorganization,
merger, amalgamation, consolidation, combination, repurchase, redemption, recapitalization, liquidation, dissolution, or sale,
transfer, exchange or other disposition of all or substantially all of the assets of the Company, or sale or exchange of Shares
or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company,
or other similar corporate transaction or event, as determined by the Administrator, affects the Shares such that an adjustment
is determined by the Administrator to be appropriate in order to prevent dilution or enlargement of the benefits or potential
benefits intended by the Company to be made available under the Plan or with respect to any outstanding purchase rights under
the Plan, the Administrator shall make equitable adjustments, if any, to reflect such change with respect to (a) the aggregate
number and type of Shares (or other securities or property) that may be issued under the Plan (including, but not limited to,
adjustments of the limitations in Section 3.1 and the limitations established in each Offering Document pursuant to Section 4.2
on the maximum number of Shares that may be purchased); (b) the class(es) and number of Shares and price per Share subject to
outstanding rights; and (c) the Purchase Price with respect to any outstanding rights.

 

8.2
Other Adjustments. Subject to Section 8.3, in the event of any transaction or event described in Section 8.1 or any unusual
or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the
Company or any affiliate, or of changes in Applicable Law or accounting principles, the Administrator, in its discretion, and
on such terms and conditions as it deems appropriate, is hereby authorized to take any one or more of the following actions whenever
the Administrator determines that such action is appropriate in order to prevent the dilution or enlargement of the benefits or
potential benefits intended to be made available under the Plan or with respect to any right under the Plan, to facilitate such
transactions or events or to give effect to such changes in laws, regulations or principles:

 

(a)
To provide for either (i) termination of any outstanding right in exchange for an amount of cash, if any, equal to the amount
that would have been obtained upon the exercise of such right had such right been currently exercisable or (ii) the replacement
of such outstanding right with other rights or property selected by the Administrator in its sole discretion;

 

(b)
To provide that the outstanding rights under the Plan shall be assumed by the successor or survivor corporation, or a parent or
subsidiary thereof, or shall be substituted for by similar rights covering the stock of the successor or survivor corporation,
or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices;

 

    	11

     

    

 

(c)
To make adjustments in the number and type of Shares (or other securities or property) subject to outstanding rights under the
Plan and/or in the terms and conditions of outstanding rights and rights that may be granted in the future;

 

(d)
To provide that Participants’ accumulated payroll deductions may be used to purchase Shares prior to the next occurring
Purchase Date on such date as the Administrator determines in its sole discretion and the Participants’ rights under the
ongoing Offering Period(s) shall be terminated; and

 

(e)
To provide that all outstanding rights shall terminate without being exercised.

 

8.3
No Adjustment Under Certain Circumstances. Unless determined otherwise by the Administrator, no adjustment or action described
in this Article VIII or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would
cause the Section 423 Component of the Plan to fail to satisfy the requirements of Section 423 of the Code.

 

8.4
No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision
or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares
of stock of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except
as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares
of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason
thereof shall be made with respect to, the number of Shares subject to outstanding rights under the Plan or the Purchase Price
with respect to any outstanding rights.

 

Article
IX.

Amendment, modification and termination

 

9.1
Amendment, Modification and Termination. The Administrator may amend, suspend or terminate the Plan at any time and from
time to time; provided, however, that approval of the Company’s stockholders shall be required to amend the Plan
to increase the aggregate number, or change the type, of shares that may be sold pursuant to rights under the Plan under Section
3.1 (other than an adjustment as provided by Article VIII) or as may otherwise be required under Section 423 of the Code.

 

9.2
Certain Changes to Plan. Without stockholder consent and without regard to whether any Participant rights may be considered
to have been adversely affected (and, with respect to the Section 423 Component of the Plan, after taking into account Section
423 of the Code), the Administrator shall be entitled to change the Offering Periods, limit the frequency and/or number of changes
in the amount withheld from Compensation during an Offering Period, establish the exchange ratio applicable to amounts withheld
in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant in order
to adjust for delays or mistakes in the Company’s processing of withholding elections, establish reasonable waiting and
adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Shares for
each Participant properly correspond with amounts withheld from the Participant’s Compensation, and establish such other
limitations or procedures as the Administrator determines in its sole discretion to be advisable that are consistent with the
Plan.

 

    	12

     

    

 

9.3
Actions In the Event of Unfavorable Financial Accounting Consequences. In the event the Administrator determines that the
ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion
and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence including,
but not limited to:

 

(a)
altering the Purchase Price for any Offering Period including an Offering Period underway at the time of the change in Purchase
Price;

 

(b)
shortening any Offering Period so that the Offering Period ends on a new or earlier Purchase Date, including an Offering Period
underway at the time of the Administrator action;

 

(c)
allocating Shares; and

 

(d)
such other changes and modifications as the Administrator determines are necessary or appropriate.

 

Such
modifications or amendments shall not require stockholder approval or the consent of any Participant.

 

9.4
Payments Upon Termination of Plan. Upon termination of the Plan, the balance in each Participant’s Plan account shall
be refunded as soon as practicable after such termination, without any interest thereon, or if the Administrator so determines,
the Offering Period may be shortened so that the purchase of Shares occurs prior to the termination of the Plan.

 

Article
X.

TERM OF PLAN

 

The
Plan shall become effective immediately prior to the Business Combination to be effected by the Company and shall continue until
terminated by the Board in accordance with Section 9.1. The effectiveness of the Plan shall be subject to approval of the Plan
by the Company’s stockholders within twelve months following the date the Plan is first approved by the Board. No right
may be granted under the Plan prior to such stockholder approval. No rights may be granted under the Plan during any period of
suspension of the Plan or after termination of the Plan.

 

Article
XI.

ADMINISTRATION

 

11.1
Administrator. Unless otherwise determined by the Board, the Administrator of the Plan shall be the Compensation Committee
of the Board (or another committee or a subcommittee of the Board to which the Board delegates administration of the Plan). The
Board may at any time vest in the Board any authority or duties for administration of the Plan. The Administrator may delegate
administrative tasks under the Plan to the services of an Agent or Employees to assist in the administration of the Plan, including
establishing and maintaining an individual securities account under the Plan for each Participant.

 

11.2
Authority of Administrator. The Administrator shall have the power, subject to, and within the limitations of, the express
provisions of the Plan:

 

(a)
To determine when and how rights to purchase Shares shall be granted and the provisions of each offering of such rights (which
need not be identical).

 

(b)
To designate from time to time which Subsidiaries of the Company shall be Designated Subsidiaries, which designation may be made
without the approval of the stockholders of the Company.

 

    	13

     

    

 

(c)
To impose a mandatory holding period pursuant to which Participants may not dispose of or transfer Shares purchased under the
Plan for a period of time determined by the Administrator in its discretion.

 

(d)
To construe and interpret the Plan and rights granted under it, and to establish, amend and revoke rules and regulations for its
administration. The Administrator, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan,
in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective.

 

(e)
To amend, suspend or terminate the Plan as provided in Article IX or otherwise.

 

(f)
Generally, to exercise such powers and to perform such acts as the Administrator deems necessary or expedient to promote the best
interests of the Company and its Subsidiaries and to carry out the intent that the Plan be treated as an “employee stock
purchase plan” within the meaning of Section 423 of the Code for the Section 423 Component.

 

(g)
The Administrator may adopt annexes or sub-plans applicable to particular Designated Subsidiaries or locations, which annexes
or sub-plans may be designed to be outside the scope of Section 423 of the Code. The rules of such annexes or sub-plans may take
precedence over other provisions of this Plan, with the exception of Section 3.1 hereof, but unless otherwise superseded by the
terms of such annex or sub-plan, the provisions of this Plan shall govern the operation of such annex or sub-plan.

 

11.3
Decisions Binding. The Administrator’s interpretation of the Plan, any rights granted pursuant to the Plan, any subscription
agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and conclusive
on all parties.

 

Article
XII.

MISCELLANEOUS

 

12.1
Restriction upon Assignment. A right granted under the Plan shall not be
transferable other than by will or the Applicable Laws of descent and distribution, and is exercisable during the Participant’s
lifetime only by the Participant. Except in the case of a Participant’s death, a right under the Plan may not be exercised
to any extent except by the Participant. The Company shall not recognize and shall be under no duty to recognize any assignment
or alienation of the Participant’s interest in the Plan, the Participant’s rights under the Plan or any rights thereunder.

 

12.2
Rights as a Stockholder. With respect to Shares subject to a right granted under the Plan, no Participant or Designated
Beneficiary shall be deemed to be a stockholder of the Company, and no Participant or Designated Beneficiary shall have any of
the rights or privileges of a stockholder, until such Shares have been issued to the Participant or the Designated Beneficiary
following exercise of the Participant’s rights under the Plan. No adjustments shall be made for dividends (ordinary or extraordinary,
whether in cash securities, or other property) or distribution or other rights for which the record date occurs prior to the date
of such issuance, except as otherwise expressly provided herein or as determined by the Administrator.

 

12.3
Interest. No interest shall accrue on the payroll deductions or contributions of a Participant under the Plan.

 

    	14

     

    

 

12.4
Notices. All notices or other communications by a Participant to the Company under or in connection with the Plan shall
be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated
by the Company for the receipt thereof.

 

12.5
Equal Rights and Privileges. Subject to Section 5.7, all Eligible Employees will have equal rights and privileges under
the Section 423 Component so that the Section 423 Component of this Plan qualifies as an “employee stock purchase plan”
within the meaning of Section 423 of the Code. Subject to Section 5.7, any provision of the Section 423 Component that is inconsistent
with Section 423 of the Code will, without further act or amendment by the Company, the Board or the Administrator, be reformed
to comply with the equal rights and privileges requirement of Section 423 of the Code. Eligible Employees participating in the
Non-Section 423 Component need not have the same rights and privileges as other Eligible Employees participating in the Non-Section
423 Component or as Eligible Employees participating in the Section 423 Component.

 

12.6
Use of Funds. All payroll deductions received or held by the Company under the Plan may be used by the Company for any
corporate purpose, and the Company shall not be obligated to segregate such payroll deductions.

 

12.7
Reports. Statements of account shall be given to Participants at least annually, which statements shall set forth the amounts
of payroll deductions, the Purchase Price, the number of Shares purchased and the remaining cash balance, if any.

 

12.8
No Employment Rights. Nothing in the Plan shall be construed to give any person (including any Eligible Employee or Participant)
the right to employment or service (or to remain in the employ or service) with the Company or any Parent or Subsidiary or affect
the right of the Company or any Parent or Subsidiary to terminate the employment or service of any person (including any Eligible
Employee or Participant) at any time, with or without cause.

 

12.9
Notice of Disposition of Shares. Each Participant shall give prompt notice to the Company of any disposition or other transfer
of any Shares purchased upon exercise of a right under the Section 423 Component of the Plan if such disposition or transfer is
made: (a) within two years from the Enrollment Date of the Offering Period in which the Shares were purchased or (b) within one
year after the Purchase Date on which such Shares were purchased. Such notice shall specify the date of such disposition or other
transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by the Participant
in such disposition or other transfer.

 

12.10
Limitations on Liability. Notwithstanding any other provisions of the Plan, no individual acting as a director, officer,
other employee or agent of the Company or any Subsidiary will be liable to any Participant, former Participant, Designated Beneficiary
or any other person for any claim, loss, liability, or expense incurred in connection with the Plan or any Offering Period, and
such individual will not be personally liable with respect to the Plan because of any contract or other instrument executed in
his or her capacity as an Administrator, director, officer, other employee or agent of the Company or any Subsidiary. The Company
will indemnify and hold harmless each director, officer, other employee and agent of the Company or any Subsidiary that has been
or will be granted or delegated any duty or power relating to the Plan’s administration or interpretation, against any cost
or expense (including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Administrator’s
approval) arising from any act or omission concerning this Plan unless arising from such person’s own fraud or bad faith.

 

12.11
Lock-Up Period. The Company may, at the request of any underwriter representative or otherwise, in connection with registering
the offering of any Company securities under the Securities Act, prohibit Participants from, directly or indirectly, selling or
otherwise transferring any Shares or other Company securities during a period of up to 180 days following the effective date of
a Company registration statement filed under the Securities Act, or such longer period as determined by the underwriter.

 

    	15

     

    

 

12.12
Data Privacy. As a condition for participation in the Plan, each Participant explicitly and unambiguously consents to the
collection, use and transfer, in electronic or other form, of personal data as described in this section by and among the Company
and its Subsidiaries and affiliates exclusively for implementing, administering and managing the Participant’s participation
in the Plan. The Company and its Subsidiaries and affiliates may hold certain personal information about a Participant, including
the Participant’s name, address and telephone number; birthdate; social security, insurance number or other identification
number; salary; nationality; job title(s); any Shares held in the Company or its Subsidiaries and affiliates; and participation
details, to implement, manage and administer the Plan and any Offering Period(s) (the “Data”). The Company
and its Subsidiaries and affiliates may transfer the Data amongst themselves as necessary to implement, administer and manage
a Participant’s participation in the Plan and any Offering Period(s), and the Company and its Subsidiaries and affiliates
may transfer the Data to third parties assisting the Company with Plan implementation, administration and management. These recipients
may be located in the Participant’s country, or elsewhere, and the Participant’s country may have different data privacy
laws and protections than the recipients’ country. By participating in any Offering Period under the Plan, each Participant
authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, to implement,
administer and manage the Participant’s participation in the Plan, including any required Data transfer to a broker or other
third party with whom the Company or the Participant may elect to deposit any Shares. The Data related to a Participant will be
held only as long as necessary to implement, administer, and manage the Participant’s participation in the Plan. A Participant
may, at any time, view the Data that the Company holds regarding such Participant, request additional information about the storage
and processing of the Data regarding such Participant, recommend any necessary corrections to the Data regarding the Participant
or refuse or withdraw the consents in this Section 12.12 in writing, without cost, by contacting the local human resources representative.
If the Participant refuses or withdraws the consents in this Section 12.12, and the Company may cancel Participant’s ability
to participate in the Plan or any Offering Period(s). For more information on the consequences of refusing or withdrawing consent,
Participants may contact their local human resources representative.

 

12.13
Severability. If any portion of the Plan or any action taken under it is held illegal or invalid for any reason, the illegality
or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or
invalid provisions had been excluded, and the illegal or invalid action will be null and void.

 

12.14
Titles and Headings. The titles and headings in the Plan are for convenience of reference only and, if any conflict, the
Plan’s text, rather than such titles or headings, will control.

 

12.15
Conformity to Securities Laws. Participant acknowledges that the Plan is intended to conform to the extent necessary with
Applicable Laws. Notwithstanding anything herein to the contrary, the Plan and all Offering Periods will be administered only
in conformance with Applicable Laws. To the extent Applicable Laws permit, the Plan and all Offering Periods will be deemed amended
as necessary to conform to Applicable Laws.

 

12.16
Relationship to Other Benefits. No payment under the Plan will be taken into account in determining any benefits under
any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary
except as expressly provided in writing in such other plan or an agreement thereunder.

 

12.17
Governing Law. The Plan and any agreements hereunder shall be administered, interpreted and enforced in accordance with
the laws of the State of Delaware, disregarding any state’s choice of law principles requiring the application of a jurisdiction’s
laws other than the State of Delaware.

 

12.18
Electronic Forms. To the extent permitted by Applicable Law and in the discretion of the Administrator, an Eligible Employee
may submit any form or notice as set forth herein by means of an electronic form approved by the Administrator. Before the commencement
of an Offering Period, the Administrator shall prescribe the time limits within which any such electronic form shall be submitted
to the Administrator with respect to such Offering Period in order to be a valid election.

 

*
* * * *

 

    	16Exhibit
10.10

 

INDEMNIFICATION
And Advancement AGREEMENT

 

This
Indemnification and Advancement Agreement (“Agreement”) is made as of ________ __, 20__ by and between AST SpaceMobile,
Inc., a Delaware corporation (the “Company”), and ______________, [a member of the Board of Directors/an officer]
of the Company (“Indemnitee”). This Agreement supersedes and replaces any and all previous Agreements between the
Company or any of its subsidiaries and Indemnitee covering indemnification and advancement.

 

RECITALS

 

WHEREAS,
the Board of Directors of the Company (the “Board”) believes that highly competent persons have become more reluctant
to serve publicly-held corporations as directors, officers, or in other capacities unless they are provided with adequate protection
through insurance or adequate indemnification and advancement of expenses against inordinate risks of claims and actions against
them arising out of their service to and activities on behalf of such corporations;

 

WHEREAS,
the Board has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an
ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain
liabilities. Although the furnishing of such insurance has been a customary and widespread practice among United States-based
corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance
may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors, officers,
and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming
litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business
enterprise itself. The Bylaws and Certificate of Incorporation of the Company require indemnification of the officers and directors
of the Company. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware
(the “DGCL”). The Bylaws, Certificate of Incorporation, and the DGCL expressly provide that the indemnification provisions
set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members
of the Board, officers and other persons with respect to indemnification and advancement of expenses;

 

WHEREAS,
the uncertainties relating to such insurance, to indemnification, and to advancement of expenses may increase the difficulty of
attracting and retaining such persons;

 

WHEREAS,
the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty
of such protection in the future;

 

WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to obligate itself to hold harmless and indemnify, and to
advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue
to serve the Company free from undue concern that they will not be so indemnified;

 

    	 

    	 

    

 

WHEREAS,
this Agreement is a supplement to and in furtherance of the Bylaws, Certificate of Incorporation and any resolutions adopted pursuant
thereto, and is not a substitute therefor, nor diminishes or abrogates any rights of Indemnitee thereunder; and

 

WHEREAS,
Indemnitee does not regard the protection available under the Bylaws, Certificate of Incorporation, DGCL and insurance as adequate
in the present circumstances, and may not be willing to serve or continue to serve as an officer or director without adequate
additional protection, and the Company desires Indemnitee to serve or continue to serve in such capacity. Indemnitee is willing
to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that Indemnitee
be so indemnified and be advanced expenses.

 

NOW,
THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant
and agree as follows:

 

Section
1. Services to the Company. Indemnitee agrees or has agreed to serve as [a/an] [director/officer] of the Company. Indemnitee
may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed
by operation of law). This Agreement does not create any obligation on the Company to continue Indemnitee in such position and
is not an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee.

 

Section
2. Definitions. As used in this Agreement:

 

(a)
“Affiliate” shall have the meaning set forth in Rule 405 under the Securities Act of 1933, as amended (as in effect
on the date hereof).

 

(b)
“Agent” means any person who is or was a director, officer or employee of the Company or an Enterprise or other person
authorized by the Company or an Enterprise to act for or represent the interests of the Company or an Enterprise, respectively.

 

(c)
“Bylaws” means the bylaws of the Company.

 

(d)
“Certificate of Incorporation” means the Certificate of Incorporation of the Company.

 

(e)
A “Change in Control” occurs upon the earliest to occur after the later of (i) the Closing and (ii) the date of this
Agreement of any of the following events:

 

i.
Acquisition of Stock by Third Party. Any Person (as defined below) is or becomes the Beneficial Owner (as defined below) [other
than a Designated Person]1, directly or indirectly, of securities of the Company representing more than fifty percent
(50%) or more of the combined voting power of the Company’s then outstanding securities unless the change in relative beneficial
ownership of the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding
shares of securities entitled to vote generally in the election of directors;

 

 

1
Note to Form: To remove for agreements where there is no Designated Person.

 

    	-2-

    	 

    

 

ii.
Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution
of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director
designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 2(e)(i),
2(e)(iii) or 2(e)(iv)) whose election by the Board or nomination for election by the Company’s stockholders was approved
by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period
or whose election or nomination for election was previously so approved (the “Initial Board”), cease for any reason
to constitute at least a majority of the members of the Board; provided, however, that no change to the composition of
the Initial Board shall be considered for the purposes of determining whether a Board Change has occurred to the extent such change
resulted from a designation made in accordance with the Stockholders’ Agreement by and among the Company, Abel Avellan (“Avellan”),
Invesat LLC, a Delaware limited liability company, Vodafone Ventures Limited, a private limited company incorporated under the
Laws of England and Wales, Rakuten Mobile USA Service Inc., a Delaware corporation, ATC TRS II LLC, a Delaware limited liability
company, and New Providence Management LLC, a Delaware limited liability company;

 

iii.
Corporate Transactions. The consummation by the Company (whether directly involving the Company or indirectly involving the Company
through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination, (y) a sale or other
disposition of all or substantially all of the Company’s assets in any single transaction or series of related transactions
or (z) the acquisition of assets or stock of another entity, in each case other than a transaction which results in the Company’s
voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by
being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or
indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds
to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least
a majority of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction;

 

iv.
Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the
sale or disposition by the Company of all or substantially all of the Company’s assets; and

 

v.
Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule
14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as
defined below), whether or not the Company is then subject to such reporting requirement.

 

    	-3-

    	 

    

 

vi.
For purposes of this Section 2(e), the following terms have the following meanings:

 

	 	1	“Exchange
    Act” means the Securities Exchange Act of 1934, as amended from time to time.
	 	 	 
	 	2	“Person”
    has the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person excludes (i)
    the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii)
    any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as
    their ownership of stock of the Company.
	 	 	 
	 	3	“Beneficial
    Owner” has the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner
    excludes any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger
    of the Company with another entity.

 

(f)
“Closing” means the closing of the transactions contemplated by the Equity Purchase Agreement, dated December 15,
2020, by and among AST & Science LLC, a Delaware limited liability company, New Providence Acquisition Corp. a Delaware corporation,
New Providence Management LLC, a Delaware limited liability company, the Existing Equityholders set forth on Annex A thereto and
Abel Avellan as the Existing Equityholder Representative (as defined therein).

 

(g)
“Corporate Status” describes the status of a person who is or was acting as a director, officer, employee, fiduciary,
or Agent of the Company or an Enterprise.

 

(h)
[“Designated Person” means [●] and its Affiliates and Related Parties.]2

 

(i)
“Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect
of which indemnification is sought by Indemnitee.

 

(j)
“Enterprise” means any other corporation, limited liability company, partnership, joint venture, trust, employee benefit
plan or other entity for which Indemnitee is or was serving at the request of the Company as a director, officer, employee, or
Agent.

 

(k)
“Expenses” shall be broadly construed and shall include, without limitation, all reasonable costs, disbursements or
expenses incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing
to be a deponent or witness in, or otherwise participating in, a Proceeding (including all reasonable attorneys’ fees, retainers,
court costs, mediation fees, transcript costs, fees of experts and other professionals, witness fees, travel expenses, duplicating
costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes
imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement). Expenses also include
(i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security
for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and (ii) for
purposes of Section 14(d) only, Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense
of Indemnitee’s rights under this Agreement, by litigation or otherwise. Expenses, however, do not include amounts paid
in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

 

2
Note to Form: For each individual signatory, to refer to the Person or entity appointing such person to the Board,
if applicable.

 

    	-4-

    	 

    

 

(l)
“finally adjudged” or “final adjudication” means determined by a final (not interlocutory)
judgment or other adjudication of a court or arbitration or administrative body of competent jurisdiction as to which there is
no further right or option of appeal or the time within which an appeal must be filed has expired without such filing (and from
which there is no further right of appeal).

 

(m)
“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law
and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter
material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other
indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Counsel” does not include any person who, under the
applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company
or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable
fees and expenses of the Independent Counsel, regardless of the manner in which such Independent Counsel was selected.

 

(n)
The term “Proceeding” includes any threatened, pending or completed action, suit, claim, counterclaim, cross claim,
arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual,
threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal,
administrative, legislative, or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee
was, is or will be involved as a party, potential party, non-party witness or otherwise by reason of Indemnitee’s Corporate
Status or by reason of any action taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure
to act) on Indemnitee’s part while acting pursuant to Indemnitee’s Corporate Status, in each case whether or not serving
in such capacity at the time any liability or Expense is incurred for which indemnification, reimbursement, or advancement of
Expenses can be provided under this Agreement. A Proceeding also includes a situation the Indemnitee believes in good faith may
lead to or culminate in the institution of a Proceeding.

 

(o)
[“Related Party” means, with respect to any Person, (a) any controlling stockholder, controlling member, general
partner, subsidiary, spouse or immediate family member (in the case of an individual) of such Person, (b) any estate, trust, corporation,
partnership or other entity, the beneficiaries, stockholders, partners or owners of which consist solely of one or more of [●] and [its] Affiliates (other than the Company and its subsidiaries) and Related Parties and/or such other Persons referred to
in the immediately preceding clause (a), or (c) any executor, administrator, trustee, manager, director or other similar fiduciary
of any Person referred to in the immediately preceding clause (b), acting solely in such capacity.]3

 

 

3
Note to Form: To be included where there is a Designated Person.

 

    	-5-

    	 

    

 

Section
3. Indemnity in Third-Party Proceedings. The Company will hold harmless and indemnify Indemnitee in accordance with the
provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other
than a Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, the Company
will hold harmless and indemnify Indemnitee to the fullest extent permitted by applicable law against all loss and liability suffered,
Expenses, judgments, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable
in connection with or in respect of such Expenses, judgments, fines and amounts paid in settlement) actually and reasonably incurred
by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein if (a)
such Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests
of the Company, and (b) in the case of a criminal Proceeding, such Indemnitee had no reasonable cause to believe that Indemnitee’s
conduct was unlawful.

 

Section
4. Indemnity in Proceedings by or in the Right of the Company. The Company will hold harmless and indemnify Indemnitee
in accordance with the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant
in any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4, the Company
will hold harmless and indemnify Indemnitee to the fullest extent permitted by applicable law against all Expenses actually and
reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter
therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company. Notwithstanding the foregoing, the Company will not hold harmless and indemnify Indemnitee for Expenses
under this Section 4 related to any claim, issue or matter in a Proceeding for which Indemnitee has been finally adjudged by a
court to be liable to the Company, unless, and only to the extent that, the Court of Chancery of the State of Delaware or any
court in which the Proceeding was brought determines that, despite the adjudication of liability but in view of all circumstances
of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery of the State
of Delaware or such other court shall deem proper.

 

Section
5. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this
Agreement, to the fullest extent permitted by applicable law, the Company will hold harmless and indemnify Indemnitee against
all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any Proceeding
in which Indemnitee is successful, on the merits or otherwise. If Indemnitee is not wholly successful in such Proceeding but is
successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the
Company will hold harmless and indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on
Indemnitee’s behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent
permitted by law. For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such
a Proceeding by dismissal, with or without prejudice, will be deemed to be a successful result as to such claim, issue or matter.

 

    	-6-

    	 

    

 

Section
6. Indemnification For Expenses of a Witness. Notwithstanding any other provision of this Agreement and to the fullest
extent permitted by the DGCL, the Company will hold harmless and indemnify Indemnitee against all Expenses actually and reasonably
incurred by Indemnitee or on Indemnitee’s behalf in connection with any Proceeding to which Indemnitee, by reason of Indemnitee’s
Corporate Status, is not a party but to which Indemnitee is a witness, deponent, interviewee, or otherwise asked to participate.

 

Section
7. Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company
for some or a portion of Expenses, but not, however, for the total amount thereof, the Company will hold harmless and indemnify
Indemnitee for the portion thereof to which Indemnitee is entitled.

 

Section
8. Additional Indemnification. Notwithstanding any limitation in Sections 3, 4, 5, 6 and 7 of this Agreement, the Company
will hold harmless and indemnify Indemnitee to the fullest extent permitted by applicable law (including but not limited to, the
DGCL and any amendments to or replacements of the DGCL adopted after the date of this Agreement that expand the Company’s
ability to hold harmless and indemnify its officers and directors) if Indemnitee is a party to or threatened to be made a party
to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor).

 

Section
9. Exclusions. Notwithstanding any provision in this Agreement, the Company is not obligated under this Agreement to make
any indemnification payment to Indemnitee in connection with any Proceeding:

 

(a)
for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision,
except to the extent provided in Section 16(b) of the Exchange Act and except with respect to any excess beyond the amount paid
under any insurance policy or other indemnity provision; or

 

(b)
for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company
within the meaning of Section 16(b) of the Exchange Act (as defined in Section 2(b) hereof) or similar provisions of state statutory
law or common law, (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based
compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case
under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to
Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits
arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act) or (iii)
any reimbursement of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy
adopted by the Board or the compensation committee of the Board, if any, including but not limited to any such policy adopted
to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act; or

 

    	-7-

    	 

    

 

(c)
initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company
or its directors, officers, employees or other indemnitees, unless (i) the Proceeding or part of any Proceeding is to enforce
Indemnitee’s rights to indemnification or advancement, of Expenses, including a Proceeding (or any part of any Proceeding)
initiated pursuant to Section 14 of this Agreement, (ii) the Board authorized the Proceeding (or any part of any Proceeding) prior
to its initiation or (iii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in
the Company under applicable law.

 

Section
10. Advances of Expenses.

 

(a)
The Company will advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding
(or any part of any Proceeding) not initiated by Indemnitee or any Proceeding (or any part of any Proceeding) initiated by Indemnitee
if (i) the Proceeding or part of any Proceeding is to enforce Indemnitee’s rights to obtain indemnification or advancement
of Expenses from the Company or Enterprise, including a proceeding initiated pursuant to Section 14 or (ii) the Board authorized
the Proceeding (or any part of any Proceeding) prior to its initiation. The Company will advance the Expenses within twenty (20)
days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to
or after final disposition of any Proceeding.

 

(b)
Advances will be unsecured and interest free. Indemnitee undertakes to repay the amounts advanced (without interest) to the extent
that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company, thus Indemnitee qualifies for
advances upon the execution of this Agreement and delivery to the Company. No other form of undertaking is required other than
the execution of this Agreement. The Company will make advances without regard to Indemnitee’s ability to repay the Expenses
and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement.

 

Section
11. Procedure for Notification of Claim for Indemnification or Advancement.

 

(a)
Indemnitee will notify the Company in writing of any Proceeding with respect to which Indemnitee intends to seek indemnification
or advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof.
Indemnitee will include in the written notification to the Company a description of the nature of the Proceeding and the allegations
underlying the Proceeding and provide such documentation and information as is reasonably available to Indemnitee and is reasonably
necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of
such Proceeding. Indemnitee’s failure to so notify the Company will not relieve the Company from any obligation it may have
to Indemnitee under this Agreement, and any delay or defect in so notifying the Company will not constitute a waiver by Indemnitee
of any rights under this Agreement. The Secretary of the Company will, promptly upon receipt of such a request for indemnification,
advise the Board in writing that Indemnitee has requested indemnification or advancement.

 

    	-8-

    	 

    

 

(b)
The Company will be entitled to participate in the Proceeding at its own expense, provided, that the Company will not be entitled
to assume the defense of such Proceedings on Indemnitee’s behalf without Indemnitee’s prior written consent.

 

(c)
The Company will not settle any Proceeding (in whole or in part) if such settlement would attribute to Indemnitee any admission
of liability or impose any Expense, judgment, liability, fine, penalty or obligation or limitation on Indemnitee without Indemnitee’s
prior written consent, which shall not be unreasonably withheld.

 

Section
12. Procedure Upon Application for Indemnification.

 

(a)
Unless a Change in Control has occurred, the determination of Indemnitee’s entitlement to indemnification will be made:

 

i.
by a majority vote of the Disinterested Directors, even though less than a quorum of the Board;

 

ii.
by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than
a quorum of the Board;

 

iii.
if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by written opinion provided by Independent
Counsel selected by the Board; or

 

iv.
if so directed by the Board, by the stockholders of the Company.

 

(b)
If a Change in Control has occurred, the determination of Indemnitee’s entitlement to indemnification will be made by written
opinion provided by Independent Counsel selected by Indemnitee (unless Indemnitee requests such selection be made by the Board).

 

(c)
The party selecting Independent Counsel pursuant to subsection (a)(iii) or (b) of this Section 12 will provide written notice
of the selection to the other party. The notified party may, within ten (10) days after receiving written notice of the selection
of Independent Counsel, deliver to the selecting party a written objection to such selection; provided, however,
that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection will set forth with particularity
the factual basis of such assertion. Absent a proper and timely objection, the person so selected will act as Independent Counsel.
If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel
unless and until such objection is withdrawn or the Court of Chancery of the State of Delaware has determined that such objection
is without merit. If, within thirty (30) days after the later of submission by Indemnitee of a written request for indemnification
pursuant to Section 11(a) hereof and the final disposition of the Proceeding, Independent Counsel has not been selected or, if
selected, any objection to has not been resolved, either the Company or Indemnitee may petition the Court of Chancery of the State
of Delaware for the appointment as Independent Counsel of a person selected by such court or by such other person as such court
designates. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent
Counsel will be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of
professional conduct then prevailing).

 

    	-9-

    	 

    

 

(d)
Indemnitee will cooperate with the person, persons or entity making the determination with respect to Indemnitee’s entitlement
to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or
information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary to such determination. The Company will advance and pay any Expenses incurred by Indemnitee in so cooperating
with the person, persons or entity making the indemnification determination irrespective of the determination as to Indemnitee’s
entitlement to indemnification and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. The Company
promptly will advise Indemnitee in writing of the determination that Indemnitee is or is not entitled to indemnification, including
a description of any reason or basis for which indemnification has been denied and providing a copy of any written opinion provided
to the Board by Independent Counsel.

 

(e)
If it is determined that Indemnitee is entitled to indemnification, the Company will make payment to Indemnitee within ten (10)
days after such determination.

 

Section
13. Presumptions and Effect of Certain Proceedings.

 

(a)
It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as favorable as may be permitted under
the DGCL and public policy of the State of Delaware. In making a determination with respect to entitlement to indemnification
hereunder, the person or persons or entity making such determination will, to the fullest extent not prohibited by law, presume
Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance
with Section 11(a) of this Agreement, and the Company will, to the fullest extent not prohibited by law, have the burden of proof
to overcome that presumption. Neither the failure of the Company (including by its directors or Independent Counsel) to have made
a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances
because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors
or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, will be a defense to the action or create
a presumption that Indemnitee has not met the applicable standard of conduct.

 

(b)
If the determination of the Indemnitee’s entitlement to indemnification has not made pursuant to Section 12 within sixty
(60) days after the later of (i) receipt by the Company of Indemnitee’s request for indemnification pursuant to Section
11(a) and (ii) the final disposition of the Proceeding for which Indemnitee requested Indemnification (the “Determination
Period”), the requisite determination of entitlement to indemnification will, to the fullest extent not prohibited by law,
be deemed to have been made and Indemnitee will be entitled to such indemnification, absent (i) a misstatement by Indemnitee of
a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in
connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law. The Determination
Period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making
the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining
or evaluating of documentation and/or information relating thereto; and provided, further, the Determination Period may be extended
an additional fifteen (15) days if the determination of entitlement to indemnification is to be made by the stockholders pursuant
to Section 12(a)(iv) of this Agreement.

 

    	-10-

    	 

    

 

(c)
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon
a plea of nolo contendere or its equivalent, will not (except as otherwise expressly provided in this Agreement) of itself
adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith
and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect
to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

(d)
For purposes of any determination of good faith, Indemnitee will be deemed to have acted in good faith if Indemnitee acted based
on the records or books of account of the Company, its subsidiaries, or an Enterprise, including financial statements, or on information
supplied to Indemnitee by the directors or officers of the Company, its subsidiaries, or an Enterprise in the course of their
duties, or on the advice of legal counsel for the Company, its subsidiaries, or an Enterprise or on information or records given
or reports made to the Company or an Enterprise by an independent certified public accountant or by an appraiser, financial advisor
or other expert selected with reasonable care by or on behalf of the Company, its subsidiaries, or an Enterprise. Further, Indemnitee
will be deemed to have acted in a manner “not opposed to the best interests of the Company,” as referred to in this
Agreement if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the
participants and beneficiaries of an employee benefit plan. Whether or not the foregoing provisions of this Section 13(d) are
satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably
believed to be in or not opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have
the burden of proof and the burden of persuasion. The provisions of this Section 13(d) is not exclusive and does not limit in
any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth
in this Agreement.

 

(e)
The knowledge and/or actions, or failure to act, of any director, officer, trustee, partner, managing member, fiduciary, agent
or employee of the Enterprise may not be imputed to Indemnitee for purposes of determining Indemnitee’s right to indemnification
under this Agreement.

 

Section
14. Remedies of Indemnitee.

 

(a)
Indemnitee may commence litigation against the Company in the Court of Chancery of the State of Delaware to obtain indemnification
or advancement of Expenses provided by this Agreement in the event that (i) a determination is made pursuant to Section 12 of
this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) the Company does not timely advance
Expenses pursuant to Section 10 of this Agreement, (iii) the determination of entitlement to indemnification is not made pursuant
to Section 12 of this Agreement within the Determination Period, (iv) the Company does not hold harmless and indemnify Indemnitee
pursuant to Section 5 or 6 or the second to last sentence of Section 12(d) of this Agreement within ten (10) days after receipt
by the Company of a written request therefor, or (v) the Company does not hold harmless and indemnify Indemnitee pursuant to Section
3, 4, 7, or 8 of this Agreement within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification,
or (vi) in the event that the Company or any other person takes or threatens to take any action to declare this Agreement void
or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, the Indemnitee
the benefits provided or intended to be provided to the Indemnitee hereunder.

 

    	-11-

    	 

    

 

(b)
If a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification, any judicial
proceeding or arbitration commenced pursuant to this Section 14 will be conducted in all respects as a de novo trial, or
arbitration, on the merits and Indemnitee may not be prejudiced by reason of that adverse determination. In any judicial proceeding
or arbitration commenced pursuant to this Section 14 the Company will have the burden of proving Indemnitee is not entitled to
indemnification or advancement of Expenses, as the case may be, and will not introduce evidence of the determination made pursuant
to Section 12 of this Agreement.

 

(c)
If a determination is made pursuant to Section 12 of this Agreement that Indemnitee is entitled to indemnification, the Company
will be bound by such determination in any judicial proceeding commenced pursuant to this Section 14, absent (i) a misstatement
by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable
law.

 

(d)
The Company is, to the fullest extent not prohibited by law, precluded from asserting in any judicial proceeding commenced pursuant
to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and will stipulate
in any such court that the Company is bound by all the provisions of this Agreement.

 

(e)
It is the intent of the Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur legal fees
or other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement
by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended
to the Indemnitee hereunder. The Company, to the fullest extent permitted by law, will (within thirty (30) days after receipt
by the Company of a written request therefor) advance to Indemnitee such Expenses which are incurred by Indemnitee in connection
with any action concerning this Agreement, Indemnitee’s right to indemnification or advancement of Expenses from the Company,
or concerning any directors’ and officers’ liability insurance policies maintained by the Company, and will indemnify
Indemnitee against any and all such Expenses unless the court determines that each of the Indemnitee’s claims in such action
were made in bad faith or were frivolous or are prohibited by law.

 

    	-12-

    	 

    

 

Section
15. Non-exclusivity; Survival of Rights; Insurance; Subrogation.

 

(a)
The indemnification and advancement of Expenses provided by this Agreement are not exclusive of any other rights to which Indemnitee
may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders
or a resolution of directors, or otherwise. The indemnification and advancement of Expenses provided by this Agreement may not
be limited or restricted by any amendment, alteration or repeal of the Certificate of Incorporation, the Bylaws or this Agreement
in any way with respect to any action taken or omitted by Indemnitee in Indemnitee’s Corporate Status occurring prior to
any such amendment, alteration or repeal of this Agreement. To the extent that a change in Delaware law, whether by statute or
judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Bylaws,
Certificate of Incorporation, or this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement
the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other
right or remedy, and every other right and remedy is cumulative and in addition to every other right and remedy given hereunder
or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, will not prevent the concurrent assertion or employment of any other right or remedy.

 

(b)
The Company hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement of Expenses and/or insurance
provided by one or more other Persons with whom or which Indemnitee may be associated (including, without limitation, any Designated
Person). The relationship between the Company and such other Persons, other than an Enterprise, with respect to the Indemnitee’s
rights to indemnification, advancement of Expenses, and insurance is described by this subsection, subject to the provisions of
subsection (d) of this Section 16 with respect to a Proceeding concerning Indemnitee’s Corporate Status with an Enterprise.

 

i.
The Company hereby acknowledges and agrees:

 

1)
the Company is the indemnitor of first resort with respect to any request for indemnification or advancement of Expenses made
pursuant to this Agreement concerning any Proceeding arising from or related to Indemnitee’s Corporate Status with the Company;

 

2)
the Company is primarily liable for all indemnification and indemnification or advancement of Expenses obligations for any Proceeding
arising from or related to Indemnitee’s Corporate Status, whether created by law, organizational or constituent documents,
contract (including this Agreement) or otherwise;

 

3)
any obligation of any other Persons with whom or which Indemnitee may be associated (including, without limitation, any Designated
Person) to hold harmless and indemnify Indemnitee and/or advance Expenses to Indemnitee in respect of any proceeding are secondary
to the obligations of the Company’s obligations;

 

4)
the Company will hold harmless and indemnify Indemnitee and advance Expenses to Indemnitee hereunder to the fullest extent provided
herein without regard to any rights Indemnitee may have against any other Person with whom or which Indemnitee may be associated
(including, any Designated Person) or insurer of any such Person; and

 

    	-13-

    	 

    

 

ii.
the Company irrevocably waives, relinquishes and releases (A) any other Person with whom or which Indemnitee may be associated
(including, without limitation, any Designated Person) from any claim of contribution, subrogation, reimbursement, exoneration
or indemnification, or any other recovery of any kind in respect of amounts paid by the Company to Indemnitee pursuant to this
Agreement and (B) any right to participate in any claim or remedy of Indemnitee against any Designated Person (or former Designated
Person), whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without
limitation, the right to take or receive from any Person (including, without limitation, any Designated Person), directly or indirectly,
in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right.

 

iii.
In the event any other Person with whom or which Indemnitee may be associated (including, without limitation, any Designated Person)
or their insurers advances or extinguishes any liability or loss for Indemnitee, the payor has a right of subrogation against
the Company or its insurers for all amounts so paid which would otherwise be payable by the Company or its insurers under this
Agreement. In no event will payment by any other Person with whom or which Indemnitee may be associated (including, without limitation,
any Designated Person) or their insurers affect the obligations of the Company hereunder or shift primary liability for the Company’s
obligation to hold harmless and indemnify or advance of Expenses to any other Person with whom or which Indemnitee may be associated
(including, without limitation, any Designated Person).

 

iv.
Any indemnification or advancement of Expenses provided by any other Person with whom or which Indemnitee may be associated (including,
without limitation, any Designated Person) is specifically in excess over the Company’s obligation to hold harmless and
indemnify and advance Expenses or any valid and collectible insurance (including but not limited to any malpractice insurance
or professional errors and omissions insurance) provided by the Company.

 

(c)
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
employees, or agents of the Company, the Company will obtain a policy or policies covering Indemnitee to the maximum extent of
the coverage available for any such director, officer, employee or agent under such policy or policies, including coverage in
the event the Company does not or cannot, for any reason, indemnify or advance Expenses to Indemnitee as required by this Agreement.
If, at the time of the receipt of a notice of a claim pursuant to this Agreement, the Company has director and officer liability
insurance in effect, the Company will give prompt notice of such claim or of the commencement of a Proceeding, as the case may
be, to the insurers in accordance with the procedures set forth in the respective policies. The Company will thereafter take all
necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such
Proceeding in accordance with the terms of such policies. Indemnitee agrees to make reasonable efforts to assist the Company’s
efforts to cause the insurers to pay such amounts and will comply with the terms of such policies, including selection of approved
panel counsel, if required.

 

    	-14-

    	 

    

 

(d)
The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee for any Proceeding concerning Indemnitee’s
Corporate Status with an Enterprise will be reduced by any amount Indemnitee has actually received as indemnification or advancement
of Expenses from such Enterprise. The Company and Indemnitee intend that any such Enterprise (and its insurers) be the indemnitor
of first resort with respect to indemnification and advancement of Expenses for any Proceeding related to or arising from Indemnitee’s
Corporate Status with such Enterprise. The Company’s obligation to indemnify and advance Expenses to Indemnitee is secondary
to the obligations the Enterprise or its insurers owe to Indemnitee. Indemnitee agrees to take all reasonably necessary and desirable
action to obtain from an Enterprise indemnification and advancement of Expenses for any Proceeding related to or arising from
Indemnitee’s Corporate Status with such Enterprise.

 

(e)
In the event of any payment made by the Company under this Agreement, the Company will be subrogated to the extent of such payment
to all of the rights of recovery of Indemnitee from any Enterprise or insurance carrier. Indemnitee will execute all papers required
and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company
to bring suit to enforce such rights.

 

Section
16. Duration of Agreement. This Agreement and the obligations of the Company hereunder shall continue during the period
that Indemnitee has Corporate Status and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding
(including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement) by
reason of Indemnitee’s Corporate Status, whether or not Indemnitee is acting in any such capacity at the time any liability
or expense is incurred for which indemnification or advancement can be provided under this Agreement. The indemnification and
advancement of Expenses rights provided by or granted pursuant to this Agreement are binding upon and be enforceable by the parties
hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation
or otherwise to all or substantially all of the business or assets of the Company), continue as to an Indemnitee who has ceased
to be a director, officer, employee or Agent of the Company or of any other Enterprise, and inure to the benefit of Indemnitee
and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and other legal representatives. The Company
shall require and shall cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) of all
or substantially all of the business or assets of the Company to, by written agreement, expressly assume and agree to perform
this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had
taken place.

 

Section
17. Severability. If any provision or provisions of this Agreement is held to be invalid, illegal or unenforceable for
any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including
without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or
unenforceable, that is not itself invalid, illegal or unenforceable) will not in any way be affected or impaired thereby and remain
enforceable to the fullest extent permitted by law; (b) such provision or provisions will be deemed reformed to the extent necessary
to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent
possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing
any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) will be
construed so as to give effect to the intent manifested thereby.

 

    	-15-

    	 

    

 

Section
18. Interpretation. Any ambiguity in the terms of this Agreement will be resolved in favor of Indemnitee and in a manner
to provide the maximum indemnification and advancement of Expenses permitted by law. The Company and Indemnitee intend that this
Agreement provide to the fullest extent permitted by law for indemnification and advancement in excess of that expressly provided,
without limitation, by the Certificate of Incorporation, the Bylaws, vote of the Company stockholders or disinterested directors,
or applicable law.

 

Section
19. Enforcement.

 

(a)
The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is
relying upon this Agreement in serving or continuing to serve as a director or officer of the Company.

 

(b)
This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the
Bylaws and applicable law, and is not a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

 

Section
20. Modification and Waiver. No supplement, modification or amendment of this Agreement is binding unless executed in writing
by the parties hereto. No waiver of any of the provisions of this Agreement will be deemed or constitutes a waiver of any other
provisions of this Agreement nor will any waiver constitute a continuing waiver.

 

Section
21. Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject
to indemnification or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company does not relieve
the Company of any obligation which it may have to the Indemnitee under this Agreement or otherwise.

 

Section
22. Notices. All notices, requests, demands and other communications under this Agreement will be in writing and will be
deemed to have been duly given if (a) delivered by hand to the other party, (b) sent by reputable overnight courier to the other
party or (c) sent by facsimile transmission or electronic mail, with receipt of oral confirmation that such communication has
been received:

 

(a)
If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee provides
to the Company.

 

(b)
If to the Company to:

 

AST
SpaceMobile, Inc.

Midland
International Air and Space Port

2901
Enterprise Lane

Midland,
TX 79706

Attention:
Brian Heller

Email:
[●]

 

or
to any other address as may have been furnished to Indemnitee by the Company.

 

    	-16-

    	 

    

 

Section
23. Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement
is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to the
amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement
and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion
as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative
benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding;
and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection
with such event(s) and/or transaction(s).

 

Section
24. Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties are governed by,
and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules.
Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Company and Indemnitee
hereby irrevocably and unconditionally (i) agree that any action or Proceeding arising out of or in connection with this Agreement
may be brought only in the Court of Chancery of the State of Delaware and not in any other state or federal court in the United
States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court
for purposes of any action or Proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the
laying of venue of any such action or Proceeding in the Court of Chancery of the State of Delaware, and (iv) waive, and agree
not to plead or to make, any claim that any such action or Proceeding brought in the Court of Chancery of the State of Delaware
has been brought in an improper or inconvenient forum.

 

Section
25. Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which will for all purposes
be deemed to be an original but all of which together constitutes one and the same Agreement. Only one such counterpart signed
by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

Section
26. Headings. The headings of this Agreement are inserted for convenience only and do not constitute part of this Agreement
or affect the construction thereof.

 

    	-17-

    	 

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year first above written.

 

	AST
    SPACEMOBILE, INC.	 	INDEMNITEE
	 	             	 	 	       
	By:	 	 	 	 
	Name:	 	 	Name:	 
	Office:	 	 	Address:	 
	 	 	 	 	 
	 	 	 	 	 

 

[Signature
Page to Indemnification and Advancement Agreement]

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