Document:

Exhibit 10.15(e)

      

       

        

      [***] Certain information in this document has been excluded pursuant to Regulation S-K, Item (601)(b)(10). Such excluded information is not material and would likely cause competitive harm to
          the registrant if publicly disclosed.

      

       

      

      FIFTH AMENDMENT TO

    

    SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

    

    

    THIS FIFTH AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”)

      is entered into this 25th day of May, 2021 by and between SILICON VALLEY BANK, a California corporation (“Bank”) and OWLET BABY CARE INC., a Delaware corporation (“Borrower”).

    

    

    Recitals

    

    

    A.          Bank and Borrower have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of April 22, 2020, as amended by that certain First Amendment to Second
      Amended and Restated Loan and Security Agreement by and between Bank and Borrower dated as of April 23, 2020, but effective as of April 22, 2020, as further amended by that certain Second Amendment to Second Amended and Restated Loan and Security
      Agreement by and between Bank and Borrower dated as of September 22, 2020, as further amended by that certain Default Waiver, Consent, and Third Amendment to Second Amended and Restated Loan and Security Agreement by and between Bank and Borrower
      dated as of March 10, 2021, and as further amended by that certain Fourth Amendment to Second Amended and Restated Loan and Security Agreement by and between Bank and Borrower dated as of May 14, 2021 (the “Fourth
        Amendment”) (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”).

    

    

    B.          Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement.

    

    

    C.          Borrower has requested that Bank amend the Loan Agreement to (i) increase the Growth Capital Commitment Amount, (ii) increase the Revolving Line, (iii) extend the Revolving Line Maturity
      Date, and (iv) make certain revisions to the Loan Agreement as more fully set forth herein.

    

    

    D.          Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the
      representations and warranties set forth below.

    

    

    Agreement

    

    

    Now, Therefore, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of
      which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

    

    

    1.          Definitions.  Capitalized terms used but not defined in this Amendment, including its preamble and
      recitals, shall have the meanings given to them in the Loan Agreement.

    

    

    2.          Amendments to Loan Agreement.

    

    

    2.1          Section 1 (ACCOUNTING AND OTHER TERMS).  The fourth (4th) sentence of Section 1 of the Loan Agreement is hereby amended by deleting it in its entirety and replacing it with the following:

    

    

    Notwithstanding any terms in this Agreement to the contrary, for purposes of any financial covenant and other financial calculations in this Agreement (other than for purposes of updating the
      Borrowing Base) which are made in whole or in part based upon the Availability Amount as of the last day of a particular month, calculations relying on information from a Borrowing Base Statement shall be derived from the Borrowing Base Statement
      delivered either (i) within seven (7) days of month end if the Streamline Period is in effect or (ii) no later than Friday of each week if the Streamline Period is not in effect, pursuant to Section 6.2(a) (and not, for clarity, any more recent
      Borrowing Base Statement delivered after such period), and the actual delivery date of such Borrowing Base Statement shall be deemed to be either (i) the last day of the applicable month if the Streamline Period is in effect, or (ii) the Friday of
      each week if the Streamline Period is in effect.

    
      
        

    

    2.2          Section 2.4 (Growth Capital Advances).  Section 2.4(a), 2.4(d) and 2.4(e) of the Loan Agreement are hereby
      amended by deleting them in their entirety and replacing them with the following:

    

    

    (a)          Availability.  Subject to the terms and conditions of this Agreement, Bank shall make a growth capital term loan available to Borrower in multiple advances
      (each, a “Growth Capital Advance” and, collectively, “Growth Capital Advances”) in an aggregate original principal amount not to exceed the Growth Capital Commitment
      Amount.  The Growth Capital Advances shall be available in three (3) tranches as follows: (a) the first (1st) tranche of the Growth Capital Advances will be funded on or
      about the Effective Date as a single Growth Capital Advance in an original principal amount of Eight Million Dollars ($8,000,000) (the “Tranche One Growth Capital Advance”), (b) provided that Bank has
      determined that Borrower has achieved the Tranche Two Milestone, the second (2nd) tranche shall be available to Borrower during the Tranche Two Draw Period in multiple advances in the aggregate original principal amount not to exceed Two Million
      Dollars ($2,000,000) (the “Tranche Two Growth Capital Advances”), and (c) the third (3rd) tranche of the Growth Capital Advances
      will be funded on or about the Fifth Amendment Effective Date as a single Growth Capital Advance in an original principal amount of Five Million Dollars ($5,000,000).  Each Growth Capital Advance shall not be less than Two Hundred Fifty Thousand
      Dollars ($250,000).  After repayment, no Growth Capital Advance (or any portion thereof) may be re-borrowed.

    

    

    (d)          Permitted Prepayment.  Borrower shall have the option to prepay all, but not less than all, of the Growth Capital Advances, provided Borrower (i) delivers
      written notice to Bank of its election to prepay the Growth Capital Advances at least ten (10) days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) the outstanding principal plus accrued and unpaid interest with respect to
      the Growth Capital Advances, (B) the Prepayment Fee, (C) the Final Payment Fee, and (D) all other sums, if any, that shall have become due and payable with respect to the Growth Capital Advances, including interest at the Default Rate with respect to
      any past due amounts.

    

    

    (e)          Mandatory Prepayment Upon an Acceleration.  If the Growth Capital Advances are accelerated by Bank following the occurrence and during the continuance of an
      Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (i) all outstanding principal plus accrued and unpaid interest with respect to the Growth Capital Advances, (ii) the Prepayment Fee, (iii) the Final Payment Fee,
      and (iv) all other sums, if any, that shall have become due and payable with respect to the Growth Capital Advances, including interest at the Default Rate with respect to any past due amounts.

    

    

    2.3          Section 2.7 (Fees).

    

    

    (a)          Sections 2.7(a), 2.7(b), 2.7(c) and 2.7(e) of the Loan Agreement are hereby amended by deleting them in their entirety and replacing them with the following:

    

    

    (a)          Revolving Line Commitment Fee.  Borrower shall pay to Bank a fully earned, non-refundable commitment fee of Twelve Thousand Five Hundred Dollars ($12,500), on
      the Fifth Amendment Effective Date (the “Revolving Line Commitment Fee”).

    
      
        

    

    (b)          Final Payment Fee.  The Final Payment Fee, when due hereunder.

    

    

    (c)          Anniversary Fee. Borrower shall pay to Bank a fully earned, non-refundable anniversary fee of Forty-Three Thousand Seven Hundred Fifty Dollars ($43,750) (the “Anniversary Fee”), which is due and payable on April 22nd of each calendar year (other than the Revolving Line Maturity Date).

    

    

    (e)          Prepayment Fee.  Borrower shall pay to Bank the Prepayment Fee, when due hereunder, provided, however, Bank agrees to waive the Prepayment Fee if Borrower
      closes on the refinance and re-documentation of the Growth Capital Advances under this Agreement with any other type of facility from Bank (in its sole and exclusive discretion) prior to the Growth Capital Maturity Date.

    

    

    (b)          Section 2.7 of the Loan Agreement is hereby amended by adding the following as new Section 2.7(h) and Section 2.7(i) in such Section immediately following Section 2.7(g) therein.

    

    

    (h)          Good Faith Deposit. Borrower has paid to Bank (on May 14, 2021) a good faith deposit of Twenty-Five Thousand Dollars ($25,000) (the “Good Faith Deposit”) to initiate Bank’s due diligence review process. Any portion of the Good Faith Deposit not utilized to pay Bank Expenses on the Fifth Amendment Effective Date shall be credited to the Designated Deposit Account.

    

    

    (i)          Termination Fee. Borrower shall pay to Bank the Termination Fee, when due hereunder, provided, however, Bank agrees to waive the Termination Fee if Borrower
      closes on the refinance and re-documentation of the Revolving Line under this Agreement with any other type of facility from Bank (in its sole and exclusive discretion) prior to the Revolving Line Maturity Date.

    

    

    2.4          Section 6.2 (Financial Statements, Reports, Certificates).  Sections 6.2(a) and (b) of the Loan Agreement
      are hereby amended by deleting them in their entirety and replacing them with the following:

    

    

    (a)          upon each request for an Advance and (x) no later than Friday of each week when Borrower is not in Streamline Period and (y) within seven (7) days after the last day
      of each month, when Borrower is in Streamline Period, (i) a Borrowing Base Statement (and any schedules related thereto and including any other information requested by Bank with respect to Borrower’s Accounts) and (ii) an accounts receivable ledger
      aging report;

    

    

    (b)           (i) within thirty (30) days after the last day of each month, (A) monthly accounts receivable agings, aged by invoice date, (B) monthly accounts payable agings, aged
      by invoice date, and outstanding or held check registers, if any, and (C) monthly reconciliations of accounts receivable agings (aged by invoice date), sell through report, Deferred Revenue report, and general ledger; and (ii) (A) when Borrower is
      not in Streamline Period, no later than Friday of each week, and (B) when Borrower is in Streamline Period, within seven (7) days after the last day of each month, Inventory transaction report, monthly perpetual inventory reports for Inventory valued
      on an average cost basis at the lower of cost or market (in accordance with GAAP), or such other inventory reports as are requested by Bank in its good faith business judgment;

    
      
        

    

    2.5          Section 6.3 (Accounts Receivable). Sections 6.3(c) and (d) of the Loan Agreement are hereby amended by
      deleting them in their entirety and replacing them with the following:

    

    

    (c)          Collection of Accounts.  Borrower shall direct Account Debtors to deliver or transmit all proceeds of Accounts into a lockbox account, or via electronic
      capture into a “blocked account” as specified by Bank (either such account, the “Cash Collateral Account”).  Whether or not an Event of Default has occurred and is continuing, Borrower shall immediately deliver
      all payments on and proceeds of Accounts to the Cash Collateral Account.  Subject to Bank’s right to maintain a reserve pursuant to Section 6.3(d), all amounts received in the Cash Collateral Account shall be (i) when a Streamline Period is not in
      effect, applied to immediately reduce the Obligations under the Revolving Line (unless Bank, in its sole discretion, at times when an Event of Default exists, elects not to so apply such amounts), or (ii) when a Streamline Period is in effect,
      transferred on a daily basis to Borrower’s operating account with Bank.  Borrower hereby authorizes Bank to transfer to the Cash Collateral Account any amounts that Bank reasonably determines are proceeds of the Accounts (provided that Bank is under
      no obligation to do so and this allowance shall in no event relieve Borrower of its obligations hereunder).

    

    

    (d)          Reserves.  Notwithstanding any terms in this Agreement to the contrary, at times when an Event of Default exists, Bank may hold any proceeds of the Accounts and
      any amounts in the Cash Collateral Account that are not applied to the Obligations pursuant to Section 6.3(c) above (including amounts otherwise required to be transferred to Borrower’s operating account with Bank when a Streamline Period is in
      effect) as a reserve to be applied to any Obligations regardless of whether such Obligations are then due and payable.

    

    

    2.6          Section 13 (Definitions).

    

    

    (a)          The following terms and their respective definitions set forth in Section 13.1 of the Loan Agreement are hereby amended by deleting them in their entirety and replacing them with the
      following:

    

    

    “Growth Capital Commitment Amount” is Fifteen Million Dollars ($15,000,000).

    

    

    “Obligations” are Borrower’s obligations to pay when due any debts, principal, interest, fees, Bank Expenses, the Prepayment Fee, the Final
      Payment Fee, the Termination Fee, the Anniversary Fee, the Unused Revolving Line Facility Fee, and other amounts Borrower owes Bank now or later, whether under this Agreement, the other Loan Documents (other than the Warrant and the PPP Loan), or
      otherwise, including, without limitation, all obligations relating to Bank Services and interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to Bank, and to perform Borrower’s duties under
      the Loan Documents (other than the Warrant and the PPP Loan).

    

    

    “Prepayment Fee” shall be an additional fee, payable to Bank, with respect to the Growth Capital Advances, in an amount equal to (a) if such
      prepayment occurs prior to the first (1st) anniversary of the Fifth Amendment Effective Date, Three Hundred Seventy-Five Thousand Dollars ($375,000), (b) if such
      prepayment occurs on or after the first (1st) anniversary of the Fifth Amendment Effective Date but prior to the second (2nd) anniversary of the Fifth Amendment Effective Date, Three Hundred Thousand Dollars ($300,000), or (c) if such prepayment occurs on or after the second (2nd) anniversary of the Fifth Amendment Effective Date and prior to the Growth Capital Maturity Date, One Hundred Fifty Thousand Dollars ($150,000).

    
      
        

    

    “Revolving Line” is an aggregate principal amount equal to Seventeen Million Five Hundred Thousand Dollars ($17,500,000).

    

    

    “Revolving Line Maturity Date” is April 22, 2024.

    

    

    “Streamline Period” is, provided no Event of Default has occurred and is continuing, the period (a) commencing on the first (1st) day of the
      month following the day that Borrower provides to Bank a written report that Borrower’s Liquidity, for each consecutive day in the immediately preceding month, as determined by Bank in its discretion, is equal to or greater than Eight Million Dollars
      ($8,000,000) (the “Streamline Threshold”); and (b) terminating on the earlier to occur of (i) the occurrence of an Event of Default, and (ii) the first (1st) day thereafter in which Borrower fails to maintain
      the Streamline Threshold, as determined by Bank in its discretion.  Upon the termination of a Streamline Period, Borrower must maintain the Streamline Threshold each consecutive day for one (1) fiscal quarter as determined by Bank in its discretion,
      prior to entering into a subsequent Streamline Period.  Borrower shall give Bank prior written notice of Borrower’s election to enter into any such Streamline Period, and each such Streamline Period shall commence on the first (1st) day of the month
      following the date Bank determines, in its reasonable discretion, that the Streamline Threshold has been achieved.

    

    

    (b)          The following new defined terms and their respective definitions are hereby inserted alphabetically in Section 13.1 of the Loan Agreement:

    

    

    “Fifth Amendment Effective Date” is May 25, 2021.

    

    

    “Final Payment Fee” is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest)
      due on the earliest to occur of (a) the Growth Capital Maturity Date, or (b) the acceleration of the Growth Capital Advances, or (c) the prepayment of the Growth Capital Advances in full pursuant to Section 2.4(d) or 2.4(e) equal to Four Hundred
      Fifty Thousand Dollars ($450,000).

    

    

    “Termination Fee” is a termination fee payable on the earliest to occur of (x) termination of this Agreement or (y) the termination of the
      Revolving Line for any reason prior to the Revolving Line Maturity Date, in addition to the payment of any other amounts then-owing, in an amount equal to (a) if such termination occurs prior to the first (1st) anniversary of the Fifth Amendment Effective Date, Four Hundred Thirty-Seven Thousand Five Hundred Dollars ($437,500), (b) if such termination occurs on or after the first (1st) anniversary of the Fifth Amendment Effective Date but prior to the second (2nd) anniversary of the Fifth
      Amendment Effective Date, Three Hundred Fifty Thousand Dollars ($350,000), or (c) if such termination occurs on or after the second (2nd) anniversary of the Fifth
      Amendment Effective Date and prior to the Revolving Line Maturity Date, One Hundred Seventy-Five Thousand Dollars ($175,000).

    

    

    2.7          Compliance Statement.  The Compliance Statement attached to the Loan Agreement as Exhibit B is
      hereby replaced in its entirety with the Compliance Statement attached hereto as Exhibit B.  From and after the date hereof, all references in the Loan Agreement to the Compliance Statement shall be deemed to refer to the Compliance Statement
      in the form attached hereto as Exhibit B.

    

    

    3.          Limitation of Amendments.

    

    

    3.1          The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be
      limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have
      in the future under or in connection with any Loan Document.

    
      
        

    

    3.2          This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties,
      covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect.

    

    

    3.3          In addition to those Events of Default specifically enumerated in the Loan Documents, the failure to comply with the terms of any covenant or
      agreement contained herein shall constitute an Event of Default and shall entitle the Bank to exercise all rights and remedies provided to the Bank under the terms of any of the other Loan Documents as a result of the occurrence of the same.

    

    

    4.          Representations and Warranties.  To induce Bank to enter into this Amendment, Borrower hereby represents
      and warrants to Bank as follows:

    

    

    4.1          Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and
      complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is
      continuing;

    

    

    4.2          Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by
      this Amendment;

    

    

    4.3          The organizational documents of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended,
      supplemented or restated and are and continue to be in full force and effect;

    

    

    4.4          The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended
      by this Amendment, have been duly authorized;

    

    

    4.5          The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended
      by this Amendment, do not and will not contravene (a) any material law or regulation binding on or affecting Borrower, (b) any material contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other
      governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower;

    

    

    4.6          The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended
      by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on
      Borrower, except as already has been obtained or made; and

    

    

    4.7          This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in
      accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’
      rights.

    
      
        

    

    5.          Outstanding Obligations under the Growth Capital Advances. Borrower acknowledges and agrees that as of the
      Fifth Amendment Effective Date (and prior to the Tranche One Growth Capital Advance (as defined below) being made by Bank to Borrower), (i) the aggregate outstanding principal balance of the Growth Capital Advances is Ten Million Dollars
      ($10,000,000), which remains outstanding and is continued as an Obligation hereunder as of the Fifth Amendment Effective Date, (ii) that such sum is not subject to any offset or defense of any kind whatsoever, and in the event Borrower has any
      offsets or defenses thereto, Borrower hereby irrevocably waives all such offsets and defenses, and (iii) there is no further availability to borrow under the Tranche One Growth Capital Advance and Tranche Two Growth Capital Advances.  The Obligations
      owing with respect to the Growth Capital Advances have not been extinguished or discharged hereby and the execution of this Amendment is not intended to and shall not cause or result in a novation with respect to the Growth Capital Advances. 
      Borrower acknowledges and agrees that it will continue to repay the outstanding balance of the Growth Capital Advances (including interest on the outstanding balance) in accordance with the terms of the Loan Agreement.

    

    

    6.          Ratification of Perfection Certificate. Borrower hereby ratifies, confirms and reaffirms, all and singular,
      in all material respects, the disclosures contained in that certain Perfection Certificate dated as of April 22, 2020 and updates to such Perfection Certificate as set forth in Schedule A attached to the Fourth Amendment (collectively, the “Updated Perfection Certificate”), and acknowledges, confirms and agrees that the disclosures and information Borrower provided to Bank in such Updated Perfection Certificate have not changed as of the date hereof.

    

    

    7.          Ratification of Intellectual Property Security Agreement.
        Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and conditions of a certain Intellectual Property Security Agreement dated as of  April 22, 2020 between Borrower and Bank, as updated by that certain Addendum to
      Intellectual Property Security Agreement dated as of May 14, 2021 between Borrower and Bank (collectively, the “Intellectual Property Security Agreement”), and acknowledges,
        confirms and agrees that said Intellectual Property Security Agreement (a) contains an accurate and complete listing of all Intellectual Property Collateral (as defined therein) and (b) shall remain in full force and effect.

    

    

    8.          Integration.  This Amendment and the Loan Documents represent the entire agreement about this subject
      matter and supersede prior negotiations or agreements.  All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this
      Amendment and the Loan Documents.

    

    

    9.          Counterparts.  This Amendment may be executed in any number of counterparts and all of such counterparts
      taken together shall be deemed to constitute one and the same instrument.

    

    

    10.          Effectiveness.  This Amendment shall be deemed effective upon the due execution and delivery to Bank of
      this Amendment by each party hereto.

    

    

    11.          Bank Expenses.  Borrower shall pay all of Bank’s legal fees and expenses in connection with the
      negotiation and preparation of this Amendment.

    

    

    12.          Governing Law.  This Amendment and the rights and obligations of the parties hereto shall be governed by
      and construed in accordance with the laws of the State of California.

    

    

    [Signature page follows.]

    
      
        

    

    In Witness Whereof, the parties hereto have caused this Amendment to be duly executed
      and delivered as of the date first written above.

    

    

    
      	
              BORROWER:

            	 
	 	 	 	 
	
              OWLET BABY CARE INC.

            	 
	 	 	 	 
	
              By: 

            	/s/ Michael Abbott 	 
	 	Name: 	
              Michael Abbott

            	 
	

            	Title:	President	 
	 	 	 	 
	
              BANK:

            	 
	 	 	 	 
	
              SILICON VALLEY BANK

            	 
	 	 	 	 
	
              By: 

            	 /s/ Jordan Rigberg	 
	
              

              

            	Name: 	
              Jordan Rigberg

            	 
	 	Title:	
              Vice President

            	 

       

      

      [Signature Page to Fifth Amendment to Second Amended and Restated Loan and Security Agreement]

      

    

  

  
    
      

  

  
  
    EXHIBIT B

    COMPLIANCE STATEMENT

     

      

     
      	TO:	SILICON VALLEY BANK 

            	Date:	 
	FROM:	
              OWLET BABY CARE INC.

            	 	 

    

                       

    

    Under the terms and conditions of the Second Amended and Restated Loan and Security Agreement between Borrower and Bank (the “Agreement”), Borrower is in
      complete compliance for the period ending _______________ with all required covenants except as noted below.  Attached are the required documents evidencing such compliance, setting forth calculations prepared in accordance with GAAP consistently
      applied from one period to the next except as explained in an accompanying letter or footnotes.  The undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the
      terms of the Agreement, and that compliance is determined not just at the date this Compliance Statement is delivered.  Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement.

     

    

    
      Please indicate compliance status by circling Yes/No under “Complies” column.

    

     

    

    	
            Reporting Covenants

          	
            Required

          	
            Complies

          
	 	 	 
	
            Monthly financial statements with

             

            Compliance Statement

          	
            Monthly within 30 days of month end

          	
            Yes   No

          
	
            Annual financial statements (CPA Audited)

          	
            FYE within 180 days

          	
            Yes   No

          
	
            10-Q, 10-K and 8-K

          	
            Within 5 days after filing with

             

            SEC

          	
            Yes   No

          
	
            A/R & A/P Agings; Sell Through Report; Deferred Revenue Report; General Ledger

          	
            Monthly within 30 days of month end

          	
            Yes   No

          
	
            Borrowing Base Statements; A/R Ledger Aging Report

          	
            Friday of each week* / monthly within 7 days of month end; and on each Advance request

          	
            Yes   No

          
	
            Inventory Report and Inventory Transaction Report

          	
            Friday of each week* /monthly within 7 days of month end;

          	
            Yes   No

          
	
            409(a) valuation report

          	
            Within 30 days after completion

          	
            Yes   No

          
	
            Annual budget and board-approved projections

          	
            The earlier of (a) January 31 of each year or (b) 15 days after Board approval

          	
            Yes   No

          
	
            Copies of Statements for [***]

          	
            Monthly within 30 days of month end

          	
            Yes   No

          
	
            *when Borrower is not in Streamline Period

          

    

    

    	
            The following Intellectual Property not previously disclosed to Bank was registered after the Fifth Amendment Effective Date

            (if no registrations, state “None”)                           

            

          
	 	 	 
	 	 	 

    

    

    	
            Financial Covenant

          	
            Required

          	
            Actual

          	
            Complies

          
	 	 	 	 
	
              Minimum Liquidity

          	
            [***]

          	
            $_______

          	
            Yes   No

          
	
              Qualifying Liquidity Event

          	
            No later 

            

            than 07/31/2021

          	
            __/__/202__

          	
            Yes   No

          
	 	 	 	 

    
      Exhibit B - 1

      
        

    

    	
            Streamline Period Eligibility and Performance Pricing

          
	
            Liquidity

          	
            Streamline Period

          	
            Interest Rate for Advances

          	
            Applies

          
	
            Liquidity > $8,000,000

          	
            Yes

          	
            Greater of (i) Prime + 0.75% or (ii) 5.50%

          	
            Yes  No

          
	
            Liquidity < $8,000,000

          	
            No

          	
            Greater of (i) Prime + 1.25% or (ii) 6.00%

          	
            Yes  No

          

    

    

    The following financial covenant analyses, streamline period eligibility analysis and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Compliance
      Statement.

    

    

    The following are the exceptions with respect to the statements above:  (If no exceptions exist, state “No exceptions to note.”)

    

    

    -------------------------------------------------------------------------------------------------------------------------------------------------------------------------

    -------------------------------------------------------------------------------------------------------------------------------------------------------------------------

    --------------------------------------------------------------------------------------------------------------------------------------------------

    
      Exhibit B - 2

      
        

    

    Schedule 1 to Compliance Statement

    

    

    Financial Covenants of Borrower

    

    

    In the event of a conflict between this Schedule and the Agreement, the terms of the Agreement shall govern.

    

    

    Dated:          ____________________

    

    

    I.          Minimum Liquidity (Section 6.9(a))

    

    

    Required: ≥ [***]

    

    

    Actual: $________________

    

    

    	 	
            A.

          	 	
            Aggregate amount of unrestricted and unencumbered cash held at such time by Borrower in accounts maintained with Bank or its affiliates

          	 	
            $

          	 	 
	 	
            B.

          	 	
            The lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base

          	 	
            $

          	 	 
	 	
            C.

          	 	
            The outstanding principal balance of any Advances

          	 	
            $

          	 	 
	 	
            D.

          	 	
            Availability Amount (Line B minus Line C)

          	 	
            $

          	 	 
	 	
            E.

          	 	
            Liquidity (line A plus line D)

          	 	 	 	 

    

    

    Is line E equal to or greater than [***] for the applicable month end?

     

    

    
      	
               

            	No, not in compliance with Section 6.9(a)  

            	 	Yes, in compliance with Section 6.9(a)

    

    
      
        

    

    Streamline Period Eligibility

    

    

    In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern.

    

    

    Dated:          ____________________

    

    

    Liquidity (definition of Streamline Period in Section 13.1)

    

    

    Required: ≥$8,000,000

    

    

    Actual: $________________

    

    

    
      	 	
              A.

            	 	
              Aggregate amount of unrestricted and unencumbered cash held at such time by Borrower in accounts maintained with Bank or its affiliates

            	 	
              $

            	 	 
	 	
              B.

            	 	
              The lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base

            	 	
              $

            	 	 
	 	
              C.

            	 	
              The outstanding principal balance of any Advances

            	 	
              $

            	 	 
	 	
              D.

            	 	
              Availability Amount (Line B minus Line C)

            	 	
              $

            	 	 
	 	
              E.

            	 	
              Liquidity (line A plus line D)

            	 	 	 	 

    

    

    

    Is line E equal to or greater than $8,000,000?

    

      
        	
                 

              	No, Streamline Period is not in effect   

              	 	Yes, Streamline Period is in effectExhibit 10.16

    

    

      INDEMNIFICATION AND ADVANCEMENT AGREEMENT

      

      

      This Indemnification and Advancement Agreement (this “Agreement”) is made as of _______________ by and between Owlet, Inc., a Delaware
        corporation (the “Company”), and _______________, [a member of the Board of Directors/an officer/an employee/an agent/a fiduciary] of the Company (“Indemnitee”).  This Agreement supersedes and replaces any and all previous Agreements between the Company 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 the corporation;

      

      

      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 of directors, 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 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 to serve as [a/an] [director/officer/employee/agent/fiduciary] 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 authorized by the Company or an Enterprise to act for or represent the interests of the
        Company or an Enterprise, respectively.

      

      

      (c)          A “Change in Control” occurs upon the earliest to occur after the date of this Agreement of any of the following events:

      

      

      i.          Acquisition of Stock by Third Party.  Any Person (as defined below), other than a Designated Person (as defined below), is or becomes the Beneficial Owner (as defined below), directly
        or indirectly, of securities of the Company representing fifteen percent (15%) 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;

      

      

      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(b)(i), 2(b)(iii) or 2(b)(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, cease for any reason to constitute at least a majority of the members of the Board;

      

      

      iii.          Corporate Transactions.  The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting
        securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined
        voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

      

      

      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.

      

      

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

      

      

      	

            	1	
              “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

            

      
        2

        
          

      

      

      

      	

            	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.

            

      

      

      (d)          “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.

      

      

      (e)          “Designated Person” means [Eclipse Ventures Fund I, L.P. and Eclipse Continuity Fund I, L.P.]1 and their Affiliates and Related Parties (as defined below).

      

      

      (f)          “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.

      

      

      (g)          “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.

      

      

      (h)          “Expenses” includes all reasonable attorneys’ fees, retainers, court costs, 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, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
        being or preparing to be a witness in, or otherwise participating in, a Proceeding.  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, the amount of judgments or fines against Indemnitee, or
        fees, salaries, wages or benefits owed to Indemnitee.

      

      

      (i)          “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.

      

      

      (j)          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.

      

    

  

  

  

  1 Note to Draft: to also include any other expected 15% holders as of closing.

   

  
    3

    
      

  

  

  

  (k)          “Related Party” means, with respect to any Person, (i) any controlling stockholder, controlling member, general partner,
    subsidiary, spouse or immediate family member (in the case of an individual) of such Person, (ii) any estate, trust, corporation, partnership or other entity, the beneficiaries, stockholders, partners or owners of which consist solely of one or more of
    [Eclipse Ventures Fund I, L.P. and Eclipse Continuity Fund I, L.P.]2 and their Affiliates (other than the Company and its subsidiaries, if applicable) and Related Parties
    and/or such other Persons referred to in the immediately preceding clause (i), or (iii) any executor, administrator, trustee, manager, director or other similar fiduciary of any Person referred to in the immediately preceding clause (ii), acting solely
    in such capacity.

  

  

  Section 3.          Indemnity in Third-Party Proceedings.  The Company will 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 indemnify Indemnitee to the fullest extent permitted by
    applicable law against all 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 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, in the case of a criminal Proceeding 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 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 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.  The Company will not 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 Delaware Court of Chancery or any court in which the Proceeding was brought determines upon application by Indemnitee that, despite the adjudication of liability but in view of all
    the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification.

  

  

  Section 5.          Indemnification for Expenses of a Party Who is Wholly or Partly Successful. To the fullest extent permitted by applicable law, the Company will indemnify Indemnitee against
    all Expenses actually and reasonably incurred by Indemnitee in connection with any Proceeding the extent that 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 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.

  

  

  

  2 Note to Draft: to also include any other expected 15% holders as of closing.

   

  
    4

    
      

  

  

  

  Section 6.          Indemnification For Expenses of a Witness.  To the fullest extent permitted by applicable law, the Company will indemnify Indemnitee against all Expenses actually and
    reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any Proceeding to which Indemnitee 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 indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

  

  

  Section 8.          Additional Indemnification.  Notwithstanding any limitation in Sections 3, 4, or 5, the Company will 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 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) 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, including but not limited to any such policy adopted to
    comply with stock exchange listing requirements implementing Section 10D of the Exchange Act; or

  

  

  (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 thirty (30) 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.

  
    5

    
      

  

  

  

  (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 facts 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 notify the Company will not relieve the Company from any obligation it may have to Indemnitee under this Agreement, and any delay 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 or advancement, advise the Board in writing that Indemnitee has requested indemnification or advancement.

  

  

  (b)          Indemnitee shall have the sole right to select Indemnitee’s defense counsel and control the Indemnitee’s defense in any Proceeding involving Indemnitee, consistent with the terms of this
    Agreement.  The Company will be entitled to participate in the Proceeding at its own expense.

  

  

  Section 12.          Procedure Upon Application for Indemnification.

  

  

  (a)          Unless a Change of 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 Delaware Court 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 Delaware Court 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).

  
    6

    
      

  

  

  

  (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 thirty (30) days after such determination.

  

  

  Section 13.          Presumptions and Effect of Certain Proceedings.

  

  

  (a)          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 been 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.

  

  

  (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.

  
    7

    
      

  

  

  

  (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.  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 Delaware Court of Chancery 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 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 indemnify Indemnitee pursuant to Section 5 or 6 or the second to last sentence of Section 12(d) of this
    Agreement within thirty (30) days after receipt by the Company of a written request therefor, (v) the Company does not indemnify Indemnitee pursuant to Section 3, 4, 7, or 8 of this Agreement within thirty (30) 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.  Alternatively, Indemnitee, at Indemnitee’s or Company’s option, may seek an award in arbitration to be conducted by a
    single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association.  Indemnitee must commence such Proceeding seeking an adjudication or an award in arbitration within one hundred and eighty (180) days following the
    date on which Indemnitee first has the right to commence such Proceeding pursuant to this Section 14(a); provided, however, that the foregoing clause does not apply in respect of a Proceeding brought by Indemnitee to enforce
    Indemnitee’s rights under Section 5 of this Agreement.  The Company will not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 

  

  

  (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 or arbitration 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.

  
    8

    
      

  

  

  

  (d)          The Company is, to the fullest extent not prohibited by law, precluded from asserting in any judicial proceeding or arbitration 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 or before any such arbitrator 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.

  

  

  Section 15.          [Reserved].

  

  

  Section 16.          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 this Agreement in any way with respect to any action taken or omitted by Indemnitee in Indemnitee’s Corporate Status occurring prior to any 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.  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;

  

  

  2)          the Company is primarily liable for all indemnification and indemnification or advancement of Expenses obligations for any Proceeding, 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 to indemnify Indemnitee and/or advance Expenses to Indemnitee in respect of any proceeding are secondary
    to the obligations of the Company’s obligations;

  
    9

    
      

  

  

  

  4)          the Company will 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 or insurer of any such Person; and

  

  

  ii.          the Company irrevocably waives, relinquishes and releases (A) any other Person with whom or which Indemnitee may be associated 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 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, 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 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
    or their insurers affect the obligations of the Company hereunder or shift primary liability for the Company’s obligation to indemnify or advance of Expenses to any other Person with whom or which Indemnitee may be associated.

  

  

  iv.          Any indemnification or advancement of Expenses provided by any other Person with whom or which Indemnitee may be associated is specifically in excess over the Company’s obligation to
    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 assist the Company 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.

  

  

  (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.

  
    10

    
      

  

  

  

  Section 17.          Duration of Agreement.  This Agreement continues until and terminates upon the later of: (a) ten (10) years after the date that Indemnitee ceases to have a Corporate Status
    or (b) one (1) year after the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any Proceeding commenced by Indemnitee pursuant to Section 14
    of this Agreement relating thereto.  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.

  

  

  Section 18.          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.

  

  

  Section 19.          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 20.          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 21.          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 22.          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.

  

  

  
    11

    
      

  

  
     

    

    Section 23.          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:

   

  

  
    	 	
            Owlet, Inc.

          
	 	
            2500 Executive PKWY Suite 500

          
	 	
            Lehi, UT 84043

          
	 	
            Attention:­­­­  

            

          	
            Kurt Workman, CEO

          
	 	 	
            Michael Abbott, CFO

          
	 	 	
            Legal Department

          
	 	
            Email:

          	
            kworkman@owletcare.com

          
	 	 	
            mabbott@owletcare.com

          
	 	 	
            legal@owletcare.com

          

     

  

  

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

  

  

  Section 24.          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 25.          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 Delaware Court of Chancery 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 Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or Proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

  

  

  Section 26.          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 27.          Headings.  The headings of this Agreement are inserted for convenience only and do not constitute part of this Agreement or affect the construction thereof.

  
    12

    
      

  

  

  

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

  

  

  

  	
          COMPANY

        	 	
          INDEMNITEE

        
	 	 	 
	
          By:

        	 	 	 
	
          Name:

        	 	
          Name:

        	 
	
          Office:

        	 	
          Address:

        	 
	 	 	 	 
	 	 	 	 

  

  

  13

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