Document:

Exhibit 10.7

 

NEONODE
INC.

NOTICE
OF GRANT OF RESTRICTED STOCK UNITS

 

The
Participant has been granted the number of Restricted Stock Units set forth below (the “RSUs”) pursuant
to the Neonode Inc. 2015 Stock Incentive Plan (the “Plan”), as follows:

 

	Participant:	_________________
	Date
    of Grant:	_________________
	Number
    of Restricted Stock Units:	_________________
	Vested
    Shares:	Subject
    to your continued status as a Service provider through each of the applicable vesting dates, the RSUs shall become vested,
    in whole or in part, in accordance with the terms of the Plan, the Award Agreement, this Notice of Grant and the following
    schedule:
	 	First
    Anniversary of Vesting Commencement Date         1/4 of the Number of RSUs
	 	Second
    Anniversary of Vesting Commencement Date     1/4 of the Number of RSUs
	 	Third
    Anniversary of Vesting Commencement Date        1/4 of the Number of RSUs
	 	Fourth
    Anniversary of Vesting Commencement Date      1/4 of the Number of RSUs

 

Capitalized
terms not defined herein shall have the meaning as set forth in the Plan.

 

If
the vesting conditions described in the Vested Shares section above are not achieved by the date indicated, the Award will terminate
and Participant’s right to the shares will be forfeited.

 

By
signing below, the Participant agrees that the Company, its directors, officers and stockholders shall not be held liable for
any tax, penalty, interest or cost incurred by the Participant as a result of such determination by the IRS. The Participant is
urged to consult with his or her own tax advisor regarding the tax consequences of the RSUs, including the application of Section
409A.

 

By
their signatures below, the Company and the Participant agree that the RSUs are governed by this Grant Notice and by the provisions
of the Plan and the Award Agreement, both of which are attached to and made a part of this document. The Participant acknowledges
receipt of copies of the Plan and the Award Agreement, represents that the Participant has read and is familiar with their provisions,
and hereby accepts the RSUs subject to all of their terms and conditions.

 

	NEONODE
    INC.	 	PARTICIPANT
	 	 	 	 
	By:	 	 	 
	 	 	 	Signature
	Its:	 	 	 
	 	 	 	Date

	Address:	 	 
	 	 	Address

 

ATTACHMENTS:   Neonode Inc. 2015 Stock Incentive Plan, as amended to the Date of Grant;
Award Agreement

 

     

     

    

 

NEONODE
INC.

RESTRICTED
STOCK UNIT AWARD AGREEMENT

 

Neonode
Inc. has granted to the Participant named in the Notice of Grant of Restricted Stock Units (the “Grant Notice”)
to which this Award Agreement is attached a number of Restricted Stock Units (the “RSUs”) pursuant to
the terms and conditions set forth in the Grant Notice and this Agreement. The RSUs have been granted pursuant to and shall in
all respects be subject to the terms and conditions of the Neonode Inc. 2015 Stock Incentive Plan (the “Plan”),
as amended to the Date of Grant, the provisions of which are incorporated herein by reference. By signing the Grant Notice, the
Participant: (a) acknowledges receipt of, and represents that the Participant has read and is familiar with the terms and conditions
of, the Grant Notice, this Agreement and the Plan, (b) accepts the RSUs subject to all of the terms and conditions of the Grant
Notice, this Agreement and the Plan, and (c) agrees to accept as binding, conclusive and final all decisions or interpretations
of the Board upon any questions arising under the Grant Notice, this Agreement or the Plan.

 

1.            Definitions
and Construction.

 

1.1            Definitions.
Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in the Grant Notice or the
Plan.

 

1.2            Construction.
Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision
of this Agreement. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall
include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

 

2.            Vesting.

 

Subject
to the limitations contained herein, the RSUs shall vest as provided in the Grant Notice, provided that vesting shall cease upon
the termination of the Participant’s Service. Any RSUs that have not vested shall be forfeited upon termination of Service.

 

3.            Distribution
of Shares of Stock. 

 

The
Company will deliver to the Participant a number of shares of Stock equal to the number of vested shares of Stock subject to the
RSUs on the vesting date or dates provided in the Grant Notice; provided, however, that the shares of Stock subject to
the RSUs that vest on or prior to the execution of the Grant Notice shall be delivered as soon as practicable following the date
of execution of the Grant Notice; and provided further, however, that in the event that the Company determines that
the Participant is subject to its policy regarding insider trading of the Company’s stock and any shares of Stock subject
to the RSUs are scheduled to be delivered on a day (the “Original Distribution Date”) that does not
occur during an applicable “window period,” as determined by the Company in accordance with such policy, then such
shares shall not be delivered on such Original Distribution Date and shall instead be delivered as soon as practicable within
the next applicable “window period” pursuant to such policy.

 

    2

     

    

 

4.            Execution
of Documents. 

 

The
Participant hereby acknowledges and agrees that the manner selected by the Company to indicate the Participant’s consent
to the Grant Notice is also deemed to be execution of the Grant Notice and of this Agreement. The Participant further agrees that
such manner of indicating consent may be relied upon as the Participant’s signature for establishing execution of any documents
to be executed in the future in connection with the RSUs. This Agreement shall be deemed to be signed by the Company and the Participant
upon the respective signing by the Company and the Participant of the Grant Notice to which it is attached.

 

5.            Unsecured
Obligation. 

 

The
RSUs are unfunded, and as a holder of vested number of RSUs, the Participant shall be considered an unsecured creditor of the
Company with respect to the Company’s obligation, if any, to issue shares of Stock pursuant to this Agreement.

 

6.            Tax
Withholding. 

 

6.1            In
General. At the time this Agreement is executed, or at any time thereafter as requested by the Company, the Participant
hereby authorizes withholding from payroll and any other amounts payable to the Participant, and otherwise agrees to make adequate
provision for, any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company,
if any, which arise in connection with the grant or vesting of the RSUs or the issuance of Stock in settlement thereof. The Company
shall have no obligation to deliver Stock until the tax obligations of the Company have been satisfied by the Participant.

 

6.2            Withholding
in Securities. The Company may, in its discretion, permit or require the Participant to satisfy all or any portion of
the tax obligations by deducting from the shares of Stock otherwise deliverable to the Participant in settlement of the RSUs a
number of shares of Stock having a fair market value, as determined by the Company as of the date on which the tax obligations
arise, not in excess of the amount of such tax obligations determined by the applicable withholding rates. In the event that the
Company determines that the tax obligations will not be satisfied by the method described above, the Participant authorizes the
designated plan administrator or any successor plan administrator, to sell a number of shares of Stock otherwise deliverable to
the Participant in settlement of the RSUs, which the Company determines is sufficient to generate an amount that meets the tax
obligations plus additional shares of Stock, as necessary to account for rounding and market fluctuation, and to pay such tax
withholding amounts to the Company. The shares of Stock may be sold as part of a block trade with other Participants of the Plan
in which all Participants receive an average price. Any adverse consequences to the Participant resulting from the procedure permitted
under this Subsection 6.2, including, without limitation, tax consequences, shall be the sole responsibility of the Participant.

 

6.3            Consultation.
The Participant hereby acknowledges that he or she understands that the Participant may suffer adverse tax consequences as
a result of participation in the Plan. The Participant hereby represents that the Participant has consulted with tax consultants
in connection with the Award and that the Participant is not relying on the Company for any tax advice.

 

    3

     

    

 

7.            Miscellaneous
Provisions.

 

7.1            Compliance
with Section 409A. The Company intends that income realized by the Participant pursuant to the Plan and this Agreement
will not be subject to taxation under Section 409A of the Code. The provisions of the Plan and this Agreement shall be interpreted
and construed in favor of satisfying any applicable requirements of Section 409A of the Code. The Company, in its reasonable discretion,
may amend (including retroactively) the Plan and this Agreement in order to conform to the applicable requirements of Section
409A of the Code, including amendments to facilitate the Participant’s ability to avoid taxation under Section 409A of the
Code. However, the preceding provisions shall not be construed as a guarantee by the Company of any particular tax result for
income realized by the Participant pursuant to the Plan or this Agreement. In any event, and except for the responsibilities of
the Company set forth in Section 6, no Participating Company shall be responsible for the payment of any applicable taxes on income
realized by the Participant pursuant to the Plan or this Agreement.

 

7.2            Further
Instruments. The parties hereto agree to execute such further instruments and to take such further action as may
reasonably be necessary to carry out the intent of this Agreement.

 

7.3            Binding
Effect. Subject to the restrictions on transfer set forth herein, this Agreement shall inure to the benefit of
and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns.

 

7.4            Integrated
Agreement. The Grant Notice, this Agreement and the Plan, together with any employment, service or other agreement
with the Participant and a Participating Company referring to the RSUs, shall constitute the entire understanding and agreement
of the Participant and the Participating Company Group with respect to the subject matter contained herein or therein and supersede
any prior agreements, understandings, restrictions, representations, or warranties among the Participant and the Participating
Company Group with respect to such subject matter. To the extent contemplated herein or therein, the provisions of the Grant Notice,
this Agreement and the Plan shall survive any vesting of the RSUs and shall remain in full force and effect.

 

7.5            Applicable
Law. This Agreement shall be governed by the laws of the State of Delaware as such laws are applied to agreements
between Delaware residents entered into and to be performed entirely within the State of Delaware.

 

7.6            Counterparts.
The Grant Notice may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

 

 4Exhibit 10.8

 

SUB-PLAN
TO THE 

NEONODE
INC. 2015 STOCK INCENTIVE PLAN

SWEDISH
TAX RESIDENTS

 

NOTICE OF GRANT OF STOCK OPTION – FINANCIAL
SECURITY 

 

The Participant has been granted an option
– financial security (the “Option”) to purchase certain shares of Common Stock of Neonode Inc.
pursuant to the Sub-Plan to the Neonode Inc. 2015 Stock Incentive Plan (the “Swedish Sub-Plan”), as follows:

 

	Participant:	__________________
	Date of Grant:	__________________
	Number of Option Shares:	__________________
	
        Option Purchase Price:

        (Paid on the Date of Grant)
	__________________
	Option Exercise Price:	__________________
	Option Expiration Date:	The date ten (10) years after the Date of Grant

 

Exercise of Option Shares 

 

This Option is exercisable as of the Date of
Grant subject to the terms of the Swedish Sub-Plan and the Stock Option Agreement (attached).

 

By their signatures below,
the Company and the Participant agree that the Option is governed by this Notice, the Stock Option Agreement, and the Swedish Sub-Plan,
each of which are attached to and made a part of this document. The Participant acknowledges receipt of copies of the Plan and
the Stock Option Agreement, represents that the Participant has read and is familiar with their provisions, and hereby accepts
the Option subject to all of their terms and conditions.

 

	NEONODE
    INC.	 	PARTICIPANT
	 	 	 	 
	By:	 	 	 
	 	 	 	Signature
	Its:	 	 	 
	 	 	 	Date

	Address:	 	 
	 	 	Address

 

ATTACHMENTS: Sub-Plan
to the Neonode Inc. 2015 Stock Incentive Plan, as amended to the Date of Grant; Stock Option Agreement; and Exercise Notice

 

    2

     

    

 

SUB-PLAN
TO THE 

NEONODE
INC. 2015 STOCK INCENTIVE PLAN

SWEDISH
TAX RESIDENTS

 

STOCK OPTION AGREEMENT

 

Neonode, Inc. has granted to the Participant
named in the Notice of Grant of Stock Option (the “Notice”) to which this Stock Option Agreement (the
“Stock Option Agreement”) is attached an option (the “Option”) to purchase
certain shares of Common Stock upon the terms and conditions set forth in the Notice and this Stock Option Agreement. The Option
has been granted pursuant to and shall in all respects be subject to the terms and conditions of the Swedish Sub-Plan to the Neonode
Inc. 2015 Stock Incentive Plan (the “Swedish Sub-Plan”), as amended to the Date of Grant, the provisions
of which are incorporated herein by reference. By signing the Notice, the Participant: (a) acknowledges receipt of, and represents
that the Participant has read and is familiar with the terms and conditions of, the Notice, this Stock Option Agreement and the
Plan, (b) accepts the Option subject to all of the terms and conditions of the Notice, this Stock Option Agreement and the Plan,
and (c) agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising
under the Notice, this Stock Option Agreement or the Plan.

 

1.            Definitions
and Construction.

 

1.1            Definitions. Unless
otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in the Notice or the Swedish Sub-Plan.

 

1.2            Construction. Captions
and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of this
Stock Option Agreement. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall
include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

 

2.            Administration.

 

All questions of interpretation concerning the
Notice, this Stock Option Agreement, the Swedish Sub-Plan or any other form of agreement or other document employed by the Company
in the administration of the Swedish Sub-Plan or the Option shall be determined by the Board. All such determinations by the Board
shall be final, binding and conclusive upon all persons having an interest in the Option, unless fraudulent or made in bad faith.
Any and all actions, decisions and determinations taken or made by the Board in the exercise of its discretion pursuant to the
Swedish Sub-Plan or the Option or other agreement thereunder shall be final, binding and conclusive upon all persons having an
interest in the Option            

 

3.            Termination
of the Option.

 

The Option shall terminate and may no longer
be exercised after the close of business on the Option Expiration Date set forth in the Notice.

 

    3

     

    

 

4.            Effect
of an Change in Control.

 

In the event of a Change in Control, the surviving,
continuing, successor, or purchasing corporation or other business entity or parent thereof, as the case may be (the “Acquiror”),
shall assume and continue in full force and effect the Company’s rights and obligations under this Option.

 

5.            Rights
as a Stockholder, Director, Employee or Consultant.

 

The Participant shall have no rights as a stockholder
with respect to any shares of Common Stock covered by the Option until the date of the issuance of the shares of Common Stock for
which the Option has been exercised (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company). No adjustment shall be made for dividends, distributions or other rights for which the record date
is prior to the date the shares are issued. If the Participant is an employee of the Company or an Affiliate, the Participant understands
and acknowledges that, except as otherwise provided in a separate, written employment agreement between the Company and Participant,
Participant’s employment is “at will” and is for no specified term. Nothing in this Stock Option Agreement shall
confer upon the Participant any right to continue in as a service provider of the Company or interfere in any way with any right
of the Company to terminate the Participant’s status as a service provider at any time.

 

6.            Waiver
of Acquired Rights

 

6.1            Voluntarily Nature of Swedish
Sub-Plan. The Swedish Sub-Plan is established voluntarily by the Company. It is discretionary in nature and it
may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Swedish Sub-Plan
and this Stock Option Agreement.

 

6.2            No Rights to Future Stock
Awards. The grant of the Option is voluntary and occasional and does not create any contractual or other right
to receive future grants of Options or other stock awards, or benefits in lieu of Options or other stock awards, even if Options
or other stock awards have been granted repeatedly in the past.

 

6.3            Company Discretion.
All decisions with respect to future Option grants, if any, will be at the sole discretion of the Company.

 

6.4            Voluntary Participation.
The Participant is voluntarily participating in the Swedish Sub-Plan.

 

6.5            Option is not Compensation.
The Option is an extraordinary item that does not constitute compensation of any kind for service rendered to the Company
or Affiliate, and which is outside the scope of the Participant’s employment contract, if any. In addition, the Option is
not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating any severance,
resignation, termination, redundancy, end-of-service payments, bonuses, long-service awards, pension or retirement benefits or
similar payments.

 

    4

     

    

 

6.6            Unknown Value of Underlying
Security. The future value of the underlying share of Common Stock is unknown and cannot be predicted with certainty.
If the Participant obtains shares upon settlement of the Option, the value of those Shares may increase or decrease.

 

7.            Data
Privacy Consent. 

 

7.1            Scope
of Consent.  Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic
or other form, of Participant’s personal data as described in this Stock Option Agreement by and among the Company and Affiliate
for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Swedish Sub-Plan.

 

7.2            Authorization.
Participant understands that the Company or Affiliate holds certain personal information about Participant, including, but not
limited to, Participant’s name, home address and telephone number, date of birth, social insurance number or other identification
number, salary, nationality, job title, any shares or directorships held in the company, details of all awards or any other entitlement
to shares awarded, canceled, exercised, vested, unvested or outstanding in the Participant’s favor, for the purpose of implementing,
administering and managing the plan (“data”). Participant understands that data may be transferred to
any third parties assisting in the implementation, administration and management of the plan, that these recipients may be located
in Participant’s country or elsewhere, and that the recipient’s country may have different data privacy laws and protections
than Participant’s country. Participant understands that he or she may request a list with the names and addresses of any
potential recipients of the data by contacting the Participant’s local human resources representative. Participant authorizes
the recipients to receive, possess, use, retain and transfer the data, in electronic or other form, for the purposes of implementing,
administering and managing the Participant’s participation in the Swedish Sub-Plan, including any requisite transfer of such
data as may be required to a broker or other third party with whom the Participant may elect to deposit any shares acquired upon
settlement of the award. The Participant understands that data will be held only as long as is necessary to implement, administer
and manage the Participant’s participation in the Swedish Sub-Plan. The Participant understands that he or she may, at any
time, view data, request additional information about the storage and processing of data, require any necessary amendments to data
or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Participant’s local human
resources representative. The Participant understands, however, that refusing or withdrawing the Participant’s consent may
affect the Participant’s ability to participate in the Swedish Sub-Plan. For more information on the consequences of the
Participant’s refusal to consent or withdrawal of consent, the Participant understands that he or she may contact the Participant’s
local human resources representative.

 

    5

     

    

 

8.            Miscellaneous
Provisions.

 

8.1            Tax
Withholding.

 

(a)            In General. If required,
Participant hereby authorizes withholding from payroll and any
other amounts payable to the Participant, and otherwise agrees
to make adequate provision for (including, if necessary or appropriate, making payments in cash or readily available funds), any
sums that may be required to satisfy the federal, state, local and foreign tax withholding obligations of the Company, which arise
in connection with the grant, vesting or exercise of the Option or the issuance of shares of Common Stock in settlement thereof.

 

(b)            Consultation. Participant
hereby acknowledges that s/he understands that Participant may suffer adverse tax consequences as a result of the exercise of the
Option or disposition of the Shares. Participant hereby represents that the Participant has consulted with any tax consultants
the Participant deems advisable in connection with the exercise of the Option or disposition of the shares of Common Stock and
that the Participant is not relying on the Company for any tax advice.

 

8.2            Further Instruments.
The parties hereto agree to execute such further instruments and to take such further action as may reasonably be necessary to
carry out the intent of this Stock Option Agreement.

 

8.3            Binding Effect. Subject
to the restrictions on transfer set forth herein, this Stock Option Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective heirs, executors, administrators, successors and assigns.

 

8.4            Integrated Agreement.
The Notice, this Stock Option Agreement and the Swedish Sub-Plan, together with any employment, service or other agreement with
the Participant and Affiliate referring to the Option, shall constitute the entire understanding and agreement of the Participant
and the Company with respect to the subject matter contained herein or therein and supersede any prior agreements, understandings,
restrictions, representations, or warranties among the Participant and the Affiliate with respect to such subject matter. To the
extent contemplated herein or therein, the provisions of the Notice, the Stock Option Agreement and the Swedish Sub-Plan shall
survive any exercise of the Option and shall remain in full force and effect.

 

8.5            Applicable Law. This
Stock Option Agreement shall be governed by the laws of the State of Delaware, USA.

 

8.6            Counterparts. The Notice
may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and
the same instrument.

 

    6

     

    

 

Participant: ____________________ 

Date: _________________________

STOCK OPTION EXERCISE NOTICE

 

Neonode Inc.

 

Attention: ________________

________________________

________________________

 

Ladies and Gentlemen:

 

1.            Option. I was granted an option (the “Option”)
to purchase shares of the common stock (the “Common Stock”) of Neonode Inc. (the “Company”)
pursuant to the Company’s Swedish Sub-Plan to the 2015 Stock Incentive Plan (the “Swedish Sub-Plan”),
my Notice of Grant of Stock Option (the “Notice”) and my Stock Option Agreement (the “Stock
Option Agreement”) as follows:

 

	 	Date of Grant:	 	 
	 	 	 	 
	 	Number of Option Shares:	 	 
	 	 	 	 
	 	Exercise Price per Share:	 	$ 	 

 

2.            Exercise of Option. I hereby elect to exercise
the Option to purchase the following number of shares of Common Stock in accordance with the Notice and the Stock Option Agreement:

 

	 	Total Shares Purchased:	 	 
	 	 	 	 
	 	Total Exercise Price (Total Shares  X  Price per Share)	 	$	 

 

3.            Payments. I enclose payment in full of the
total exercise price for the Shares in the following form(s), as authorized by my Stock Option Agreement:

 

	 	__  Cash:	$ 	 
	 	 	 	 
	 	__ Check:	$ 	 
	 	 	 	 
	 	__ Tender of Company Stock:	Contact Plan Administrator
	 	 	 	 
	 	__ Cashless Exercise	Contact Plan Administrator

 

    7

     

    

 

4.            Tax Withholding. If applicable, I authorize
payroll withholding and otherwise will make adequate provision for the federal, state, local and foreign tax withholding obligations
of the Company in connection with the Option

 

5.            Participant Information.

 

	 	My address is:	 
	 	 	 
	 	 	 

 

	 	My Tax Identification Number is:	 

 

6.            Binding Effect. I agree that the shares
of Common Stock are being acquired in accordance with and subject to the terms, provisions and conditions of the Notice, the Stock
Option Agreement and the Swedish Sub-Plan, to all of which I hereby expressly assent. This Option Agreement shall inure to the
benefit of and be binding upon my heirs, executors, administrators, successors and assigns.

 

I understand that I am purchasing the Shares
pursuant to the terms of the Swedish Sub-Plan, the Notice and my Stock Option Agreement, copies of which I have received and carefully
read and understand.

 

Very truly yours,

 

 

 

(Signature)

 

Receipt of the above is hereby acknowledged.

 

Neonode Inc.

 

	By:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Dated:	 	 

 

 

8

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