Document:

Exhibit 10.16.1 

 

BUTTERFLY NETWORK, INC.

 

2012 EMPLOYEE, DIRECTOR AND CONSULTANT
EQUITY INCENTIVE PLAN

 

(As Amended by the Board of Directors on
January 2, 2020,

regarding Section 3.(a) Shares Subject to
the Plan)

 

		1.	DEFINITIONS.

 

Unless otherwise specified
or unless the context otherwise requires, the following terms, as used in this Butterfly Network, Inc. 2012 Employee, Director
and Consultant Equity Incentive Plan, have the following meanings:

 

Administrator means the
Board of Directors, unless it has delegated power to act on its behalf to the Committee, in which case the Administrator means
the Committee.

 

Affiliate means a corporation
which, for purposes of Section 424 of the Code, is a parent or subsidiary of the Company, direct or indirect.

 

Agreement means an agreement
between the Company and a Participant delivered pursuant to the Plan and pertaining to a Stock Right, in such form as the Administrator
shall approve.

 

Board of Directors means
the Board of Directors of the Company.

 

California Participant means
a Participant who resides in the State of California.

 

Cause means, with respect
to a Participant (a) dishonesty with respect to the Company or any Affiliate, (b) insubordination, substantial malfeasance or non-feasance
of duty, (c) unauthorized disclosure of confidential information, (d) breach by a Participant of any provision of any employment,
consulting, advisory, nondisclosure, non-competition or similar agreement between the Participant and the Company or any Affiliate,
and (e) conduct substantially prejudicial to the business of the Company or any Affiliate; provided, however, that any provision
in an agreement between a Participant and the Company or an Affiliate, which contains a conflicting definition of Cause for termination
and which is in effect at the time of such termination, shall supersede this definition with respect to that Participant. The determination
of the Administrator as to the existence of Cause will be conclusive on the Participant and the Company.

 

Code means the United States
Internal Revenue Code of 1986, as amended including any successor statute, regulation and guidance thereto.

 

Committee means the committee
of the Board of Directors to which the Board of Directors has delegated power to act under or pursuant to the provisions of the
Plan.

 

     

     

    

 

 

Common Stock means shares
of the Company’s common stock, $0.0001 par value per share.

 

Company means Butterfly
Network, Inc., a Delaware corporation.

 

Consultant means any natural
person who is an advisor or consultant that provides bona fide services to the Company or its Affiliates, provided that such services
are not in connection with the offer or sale of securities in a capital raising transaction, and do not directly or indirectly
promote or maintain a market for the Company’s or its Affiliates’ securities.

 

Disability or Disabled
means permanent and total disability as defined in Section 22(e)(3) of the Code.

 

Employee means any employee
of the Company or of an Affiliate (including, without limitation, an employee who is also serving as an officer or director of
the Company or of an Affiliate), designated by the Administrator to be eligible to be granted one or more Stock Rights under the
Plan.

 

Fair Market Value of a Share
of Common Stock means:

 

(1)              
If the Common Stock is listed on a national securities exchange or traded in the over-the-counter market and sales
prices are regularly reported for the Common Stock, the closing or, if not applicable, the last price of the Common Stock on the
composite tape or other comparable reporting system for the trading day on the applicable date and if such applicable date is not
a trading day, the last market trading day prior to such date;

 

(2)              
If the Common Stock is not traded on a national securities exchange but is traded on the over-the-counter market,
if sales prices are not regularly reported for the Common Stock for the trading day referred to in clause (1), and if bid
and asked prices for the Common Stock are regularly reported, the mean between the bid and the asked price for the Common Stock
at the close of trading in the over-the-counter market for the trading day on which Common Stock was traded on the applicable date
and if such applicable date is not a trading day, the last market trading day prior to such date; and

 

(3)              
If the Common Stock is neither listed on a national securities exchange nor traded in the over-the-counter market,
such value as the Administrator, in good faith, shall determine.

 

ISO means an option intended
to qualify as an incentive stock option under Section 422 of the Code.

 

Non-Qualified Option
means an option which is not intended to qualify as an ISO.

 

Option means an ISO or Non-Qualified
Option granted under the Plan.

 

    2

     

    

 

Participant means an Employee,
director or Consultant of the Company or an Affiliate to whom one or more Stock Rights are granted under the Plan. As used herein,
 “Participant” shall include “Participant’s Survivors” where the context requires.

 

Plan means this Butterfly
Network, Inc. 2012 Employee, Director and Consultant Equity Incentive Plan.

 

Securities Act means the
Securities Act of 1933, as amended.

 

Shares means shares of the
Common Stock as to which Stock Rights have been or may be granted under the Plan or any shares of capital stock into which the
Shares are changed or for which they are exchanged within the provisions of Paragraph 3 of the Plan. The Shares issued under
the Plan may be authorized and unissued shares or shares held by the Company in its treasury, or both.

 

Stock-Based Award means
a grant by the Company under the Plan of an equity award or an equity based award which is not an Option or a Stock Grant.

 

Stock Grant means a grant
by the Company of Shares under the Plan.

 

Stock Right means a right
to Shares or the value of Shares of the Company granted pursuant to the Plan -- an ISO, a Non-Qualified Option, a Stock Grant or
a Stock-Based Award.

 

Survivor means a deceased
Participant’s legal representatives and/or any person or persons who acquired the Participant’s rights to a Stock Right
by will or by the laws of descent and distribution.

 

 

		2.	PURPOSES OF THE PLAN.

 

The Plan is intended
to encourage ownership of Shares by Employees and directors of and certain Consultants to the Company and its Affiliates in order
to attract and retain such people, to induce them to work for the benefit of the Company or of an Affiliate and to provide additional
incentive for them to promote the success of the Company or of an Affiliate. The Plan provides for the granting of ISOs, Non-Qualified
Options, Stock Grants and Stock-Based Awards.

 

		3.	SHARES SUBJECT TO THE PLAN.

 

(a)              
The number of Shares which may be issued from time to time pursuant to this Plan shall be 31,000,000, or the equivalent
of such number of Shares after the Administrator, in its sole discretion, has interpreted the effect of any stock split, stock
dividend, combination, recapitalization or similar transaction in accordance with Paragraph 24 of the Plan.

 

    3

     

    

 

(b)              
 If an Option ceases to be “outstanding”, in whole or in part (other than by exercise), or if the Company shall
reacquire (at not more than its original issuance price) any Shares issued pursuant to a Stock Grant or Stock-Based Award, or if
any Stock Right expires or is forfeited, cancelled, or otherwise terminated or results in any Shares not being issued, the unissued
or reacquired Shares which were subject to such Stock Right shall again be available for issuance from time to time pursuant to
this Plan. Notwithstanding the foregoing, if a Stock Right is exercised, in whole or in part, by tender of Shares or if the Company
or an Affiliate’s tax withholding obligation is satisfied by withholding Shares, the number of Shares deemed to have been
issued under the Plan for purposes of the limitation set forth in Paragraph 3(a) above shall be the number of Shares that were
subject to the Stock Right or portion thereof, and not the net number of Shares actually issued. However, in the case of ISOs,
the foregoing provisions shall be subject to any limitations under the Code.

 

		4.	ADMINISTRATION OF THE PLAN.

 

The Administrator of
the Plan will be the Board of Directors, except to the extent the Board of Directors delegates its authority to the Committee,
in which case the Committee shall be the Administrator. Subject to the provisions of the Plan, the Administrator is authorized
to:

 

(a)              
Interpret the provisions of the Plan and all Stock Rights and to make all rules and determinations which it deems necessary
or advisable for the administration of the Plan;

 

(b)              
Determine which Employees, directors and Consultants shall be granted Stock Rights;

 

(c)              
Determine the number of Shares for which a Stock Right or Stock Rights shall be granted;

 

(d)              
Specify the terms and conditions upon which a Stock Right or Stock Rights may be granted;

 

(e)              
Amend any term or condition of any outstanding Stock Right, including, without limitation, to reduce or increase the exercise
price or purchase price, accelerate the vesting schedule or extend the expiration date, provided that (i) such term or condition
as amended is permitted by the Plan; (ii) any such amendment shall not impair the rights of a Participant under any Stock Right
previously granted without such Participant’s consent or in the event of death of the Participant the Participant’s
Survivors; and (iii) any such amendment shall be made only after the Administrator determines whether such amendment would cause
any adverse tax consequences to the Participant, including, but not limited to, the annual vesting limitation contained in Section
422(d) of the Code and described in Paragraph 6(b)(iv) below with respect to ISOs and pursuant to Section 409A of the Code;

 

(f)               
Buy out for a payment in cash or Shares, a Stock Right previously granted and/or cancel any such Stock Right and grant in
substitution therefor other Stock Rights, covering the same or a different number of Shares and having an exercise price or purchase
price per share which may be lower or higher than the exercise price or purchase price of the cancelled Stock Right, based on such
terms and conditions as the Administrator shall establish and the Participant shall accept; and

 

    4

     

    

 

(g)              
 Adopt any sub-plans applicable to residents of any specified jurisdiction as it deems necessary or appropriate in order
to comply with or take advantage of any tax or other laws applicable to the Company, any Affiliate or to Participants or to otherwise
facilitate the administration of the Plan, which sub-plans may include additional restrictions or conditions applicable to Stock
Rights or Shares issuable pursuant to a Stock Right;

 

provided, however, that all such interpretations,
rules, determinations, terms and conditions shall be made and prescribed in the context of not causing any adverse tax consequences
under Section 409A of the Code and preserving the tax status under Section 422 of the Code of those Options which are designated
as ISOs. Subject to the foregoing, the interpretation and construction by the Administrator of any provisions of the Plan or of
any Stock Right granted under it shall be final, unless otherwise determined by the Board of Directors, if the Administrator is
the Committee. In addition, if the Administrator is the Committee, the Board of Directors may take any action under the Plan that
would otherwise be the responsibility of the Committee.

 

To the extent permitted
under applicable law, the Board of Directors or the Committee may allocate all or any portion of its responsibilities and powers
to any one or more of its members and may delegate all or any portion of its responsibilities and powers to any other person selected
by it. The Board of Directors or the Committee may revoke any such allocation or delegation at any time.

 

		5.	ELIGIBILITY FOR PARTICIPATION.

 

The Administrator will,
in its sole discretion, name the Participants in the Plan; provided, however, that each Participant must be an Employee, director
or Consultant of the Company or of an Affiliate at the time a Stock Right is granted. Notwithstanding the foregoing, the Administrator
may authorize the grant of a Stock Right to a person not then an Employee, director or Consultant of the Company or of an Affiliate;
provided, however, that the actual grant of such Stock Right shall be conditioned upon such person becoming eligible to become
a Participant at or prior to the time of the execution of the Agreement evidencing such Stock Right. ISOs may be granted only to
Employees who are deemed to be residents of the United States for tax purposes. Non-Qualified Options, Stock Grants and Stock-Based
Awards may be granted to any Employee, director or Consultant of the Company or an Affiliate. The granting of any Stock Right to
any individual shall neither entitle that individual to, nor disqualify him or her from, participation in any other grant of Stock
Rights or any grant under any other benefit plan established by the Company or any Affiliate for Employees, directors or Consultants.

 

		6.	TERMS AND CONDITIONS OF OPTIONS.

 

Each Option shall be
set forth in writing in an Option Agreement, duly executed by the Company and, to the extent required by law or requested by the
Company, by the Participant. The Administrator may provide that Options be granted subject to such terms and conditions, consistent
with the terms and conditions specifically required under this Plan, as the Administrator may deem appropriate including, without
limitation, subsequent approval by the shareholders of the Company of this Plan or any amendments thereto. The Option Agreements
shall be subject to at least the following terms and conditions:

 

    5

     

    

 

(a)              
Non-Qualified Options: Each Option intended to be a Non-Qualified Option shall be subject to the terms and
conditions which the Administrator determines to be appropriate and in the best interest of the Company, subject to the following
minimum standards for any such Non-Qualified Option:

 

		(i)	Exercise Price: Each Option Agreement shall state the exercise price (per share) of the
Shares covered by each Option, which exercise price shall be determined by the Administrator and shall be at least equal to par
value; provided, that the exercise price may be less than the Fair Market Value per share of Common Stock on the date of grant
of the Option only if the terms of such Option comply with the requirements of Section 409A of the Code (unless granted to a Consultant
to whom Section 409A of the Code does not apply).

 

		(ii)	Number of Shares: Each Option Agreement shall state the number of Shares to which it pertains.

 

		(iii)	Option Periods: Each Option Agreement shall state the date or dates on which it first is
exercisable and the date after which it may no longer be exercised, and may provide that the Option rights accrue or become exercisable
in installments over a period of months or years, or upon the occurrence of certain conditions or the attainment of stated goals
or events. For California Participants, the exercise period of the Option set forth in the Option Agreement shall not be more than
120 months from the date of grant.

 

		(iv)	Option Conditions: Exercise of any Option may be conditioned upon the Participant’s
execution of a Share purchase agreement in form satisfactory to the Administrator providing for certain protections for the Company
and its other shareholders, including requirements that:

 

		A.	The Participant’s or the Participant’s Survivors’ right to sell or transfer the
Shares may be restricted; and

 

		B.	The Participant or the Participant’s Survivors may be required to execute letters of investment
intent and must also acknowledge that the Shares will bear legends noting any applicable restrictions.

 

		(v)	Term of Option: Each Option shall terminate not more than ten years from the date of the
grant or at such earlier time as the Option Agreement may provide.

 

(b)              
ISOs: Each Option intended to be an ISO shall be issued only to an Employee who is deemed to be a resident of the
United States for tax purposes, and shall be subject to the following terms and conditions, with such additional restrictions or
changes as the Administrator determines are appropriate but not in conflict with Section 422 of the Code and relevant regulations
and rulings of the Internal Revenue Service:

 

    6

     

    

 

		(i)	Minimum standards: The ISO shall meet the minimum standards required of Non-Qualified
Options, as described in Paragraph 6(a) above, except clause (i) and (v) thereunder.

 

		(ii)	Exercise Price: Immediately before the ISO is granted, if the Participant owns, directly
or by reason of the applicable attribution rules in Section 424(d) of the Code:

 

		A.	10% or less of the total combined voting power of all classes of stock of the Company or
an Affiliate, the exercise price per share of the Shares covered by each ISO shall not be less than 100% of the Fair Market Value
per share of the Common Stock on the date of grant of the Option; or

 

		B.	More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate,
the exercise price per share of the Shares covered by each ISO shall not be less than 110% of the Fair Market Value per share of
the Common Stock on the date of grant of the Option.

 

		(iii)	Term of Option: For Participants who own:

 

		A.	10% or less of the total combined voting power of all classes of stock of the Company or
an Affiliate, each ISO shall terminate not more than ten years from the date of the grant or at such earlier time as the Option
Agreement may provide; or

 

		B.	More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate,
each ISO shall terminate not more than five years from the date of the grant or at such earlier time as the Option Agreement may
provide.

 

		(iv)	Limitation on Yearly Exercise: The Option Agreements shall restrict the amount of ISOs which
may become exercisable in any calendar year (under this or any other ISO plan of the Company or an Affiliate) so that the aggregate
Fair Market Value (determined on the date each ISO is granted) of the stock with respect to which ISOs are exercisable for the
first time by the Participant in any calendar year does not exceed $100,000.

 

		7.	TERMS AND CONDITIONS OF STOCK GRANTS.

 

Each Stock Grant
to a Participant shall state the principal terms in an Agreement duly executed by the Company and, to the extent required by
law or requested by the Company, by the Participant. For California Participants, each Stock Grant shall be issued within ten
(10) years from the earlier of the date the Plan is adopted or approved by the Company’s shareholders. The Agreement
shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator determines to
be appropriate and in the best interest of the Company, subject to the following minimum standards:

 

    7

     

    

 

(a)              
Each Agreement shall state the purchase price per share, if any, of the Shares covered by each Stock Grant, which purchase
price shall be determined by the Administrator but shall not be less than the minimum consideration required by the Delaware General
Corporation Law, if any, on the date of the grant of the Stock Grant;

 

(b)              
Each Agreement shall state the number of Shares to which the Stock Grant pertains; and

 

(c)              
Each Agreement shall include the terms of any right of the Company to restrict or reacquire the Shares subject to the Stock
Grant, including the time and events upon which such rights shall accrue and the purchase price therefor, if any.

 

		8.	TERMS AND CONDITIONS OF OTHER STOCK-BASED AWARDS.

 

The Administrator shall
have the right to grant other Stock-Based Awards based upon the Common Stock having such terms and conditions as the Administrator
may determine, including, without limitation, the grant of Shares based upon certain conditions, the grant of securities convertible
into Shares and the grant of stock appreciation rights, phantom stock awards or stock units. The principal terms of each Stock-Based
Award shall be set forth in an Agreement, duly executed by the Company and, to the extent required by law or requested by the Company,
by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which
the Administrator determines to be appropriate and in the best interest of the Company.

 

The Company intends
that the Plan and any Stock-Based Awards granted hereunder be exempt from the application of Section 409A of the Code or meet the
requirements of paragraphs (2), (3) and (4) of subsection (a) of Section 409A of the Code, to the extent applicable, and be operated
in accordance with Section 409A so that any compensation deferred under any Stock-Based Award (and applicable investment earnings)
shall not be included in income under Section 409A of the Code. Any ambiguities in the Plan shall be construed to effect the intent
as described in this Paragraph 8.

 

		9.	EXERCISE OF OPTIONS AND ISSUE OF SHARES.

 

An Option (or any
part or installment thereof) shall be exercised by giving written notice to the Company or its designee (in a form acceptable
to the Administrator, which may include electronic notice), together with provision for payment of the aggregate exercise
price in accordance with this Paragraph for the Shares as to which the Option is being exercised, and upon compliance with
any other condition(s) set forth in the Option Agreement. Such notice shall be signed by the person exercising the Option
(which signature may be provided electronically in a form acceptable to the Administrator), shall state the number of Shares
with respect to which the Option is being exercised and shall contain any representation required by the Plan or the Option
Agreement. Payment of the exercise price for the Shares as to which such Option is being exercised shall be made (a) in
United States dollars in cash or by check, or (b) at the discretion of the Administrator, through delivery of shares of
Common Stock held for at least six months (if required to avoid negative accounting treatment) having a Fair Market Value
equal as of the date of the exercise to the aggregate cash exercise price for the number of Shares as to which the Option is
being exercised, or (c) at the discretion of the Administrator, by having the Company retain from the Shares otherwise
issuable upon exercise of the Option, a number of Shares having a Fair Market Value equal as of the date of exercise to the
aggregate exercise price for the number of Shares as to which the Option is being exercised, or (d) at the discretion of the
Administrator (after consideration of applicable securities, tax and accounting implications), by delivery of the
grantee’s personal recourse note bearing interest payable not less than annually at no less than 100% of the applicable
Federal rate, as defined in Section 1274(d) of the Code, or (e) at the discretion of the Administrator, in
accordance with a cashless exercise program established with a securities brokerage firm, and approved by the Administrator,
or (f) at the discretion of the Administrator, by any combination of (a), (b), (c), (d) and (e) above or (g) at the
discretion of the Administrator, by payment of such other lawful consideration as the Administrator may determine.
Notwithstanding the foregoing, the Administrator shall accept only such payment on exercise of an ISO as is permitted by
Section 422 of the Code.

 

    8

     

    

 

The Company shall then
reasonably promptly deliver the Shares as to which such Option was exercised to the Participant (or to the Participant’s
Survivors, as the case may be). In determining what constitutes “reasonably promptly,” it is expressly understood that
the issuance and delivery of the Shares may be delayed by the Company in order to comply with any law or regulation (including,
without limitation, state securities or “blue sky” laws) which requires the Company to take any action with respect
to the Shares prior to their issuance. The Shares shall, upon delivery, be fully paid, non-assessable Shares.

 

		10.	PAYMENT IN CONNECTION WITH THE ISSUANCE OF STOCK GRANTS AND STOCK-BASED AWARDS AND ISSUE OF
SHARES.

 

Any Stock Grant or
Stock-Based Award requiring payment of a purchase price for the Shares as to which such Stock Grant or Stock-Based Award is being
granted shall be made (a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through
delivery of shares of Common Stock held for at least six months (if required to avoid negative accounting treatment) and having
a Fair Market Value equal as of the date of payment to the purchase price of the Stock Grant or Stock-Based Award, or (c) at the
discretion of the Administrator (after consideration of applicable securities, tax and accounting implications), by delivery of
the grantee’s personal recourse note bearing interest payable not less than annually at no less than 100% of the applicable
Federal rate, as defined in Section 1274(d) of the Code, or (d) at the discretion of the Administrator, by any combination of (a),
(b) and (c) above; or (e) at the discretion of the Administrator, by payment of such other lawful consideration as the Administrator
may determine.

 

The Company shall
when required by the applicable Agreement, reasonably promptly deliver the Shares as to which such Stock Grant or Stock-Based
Award was made to the Participant (or to the Participant’s Survivors, as the case may be), subject to any escrow
provision set forth in the applicable Agreement. In determining what constitutes “reasonably promptly,” it is
expressly understood that the issuance and delivery of the Shares may be delayed by the Company in order to comply with any
law or regulation (including, without limitation, state securities or “blue sky” laws) which requires the Company
to take any action with respect to the Shares prior to their issuance.

 

    9

     

    

 

		11.	RIGHTS AS A SHAREHOLDER.

 

No Participant to whom
a Stock Right has been granted shall have rights as a shareholder with respect to any Shares covered by such Stock Right except
after due exercise of an Option or issuance of Shares as set forth in any Agreement, tender of the aggregate exercise or purchase
price, if any, for the Shares being purchased and registration of the Shares in the Company’s share register in the name
of the Participant.

 

		12.	ASSIGNABILITY AND TRANSFERABILITY OF STOCK RIGHTS.

 

By its terms, a Stock
Right granted to a Participant shall not be transferable by the Participant other than (i) by will or by the laws of descent and
distribution, or (ii) as approved by the Administrator in its discretion and set forth in the applicable Agreement provided that
no Stock Right may be transferred by a Participant for value. For California Participants, Stock Rights shall not be transferable
by the Participant other than by will or by the laws of descent and distribution, to a revocable trust, or as permitted by Rule
701 of the Securities Act. Notwithstanding the foregoing, an ISO transferred except in compliance with clause (i) above shall no
longer qualify as an ISO. The designation of a beneficiary of a Stock Right by a Participant, with the prior approval of the Administrator
and in such form as the Administrator shall prescribe, shall not be deemed a transfer prohibited by this Paragraph. Except as provided
above during the Participant’s lifetime a Stock Right shall only be exercisable by or issued to such Participant (or his
or her legal representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise)
and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation
or other disposition of any Stock Right or of any rights granted thereunder contrary to the provisions of this Plan, or the levy
of any attachment or similar process upon a Stock Right, shall be null and void.

 

		13.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE OR DEATH OR DISABILITY.

 

Except as otherwise
provided in a Participant’s Option Agreement, in the event of a termination of service (whether as an Employee, director
or Consultant) with the Company or an Affiliate before the Participant has exercised an Option, the following rules apply:

 

(a)              
A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate (for any reason other
than termination for Cause, Disability, or death for which events there are special rules in Paragraphs 14, 15, and 16, respectively),
may exercise any Option granted to him or her to the extent that the Option is exercisable on the date of such termination of service,
but only within such term as the Administrator has designated in a Participant’s Option Agreement.

 

(b)               Except
as provided in Subparagraph (c) below, or Paragraph 15 or 16, in no event may an Option intended to be an ISO, be exercised
later than three months after the Participant’s termination of employment. For Options granted to California
Participants, an Option must be exercisable for at least thirty (30) days from the date of a Participant’s termination
of employment.

 

    10

     

    

 

(c)              
The provisions of this Paragraph, and not the provisions of Paragraph 15 or 16, shall apply to a Participant who subsequently
becomes Disabled or dies after the termination of employment, director status or consultancy; provided, however, in the case of
a Participant’s Disability or death within three months after the termination of employment, director status or consultancy,
the Participant or the Participant’s Survivors may exercise the Option within one year after the date of the Participant’s
termination of service, but in no event after the date of expiration of the term of the Option.

 

(d)              
Notwithstanding anything herein to the contrary, if subsequent to a Participant’s termination of employment, termination
of director status or termination of consultancy, but prior to the exercise of an Option, the Administrator determines that, either
prior or subsequent to the Participant’s termination, the Participant engaged in conduct which would constitute Cause, then
such Participant shall forthwith cease to have any right to exercise any Option.

 

(e)              
A Participant to whom an Option has been granted under the Plan who is absent from the Company or an Affiliate because of
temporary disability (any disability other than a Disability as defined in Paragraph 1 hereof), or who is on leave of absence for
any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such
Participant’s employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator
may otherwise expressly provide; provided, however, that, for ISOs, any leave of absence granted by the Administrator of greater
than ninety days, unless pursuant to a contract or statute that guarantees the right to reemployment, shall cause such ISO to become
a Non-Qualified Option on the 181st day following such leave of absence.

 

(f)               
Except as required by law or as set forth in a Participant’s Option Agreement, Options granted under the Plan shall
not be affected by any change of a Participant’s status within or among the Company and any Affiliates, so long as the Participant
continues to be an Employee, director or Consultant of the Company or any Affiliate.

 

		14.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR CAUSE.

 

Except as otherwise
provided in a Participant’s Option Agreement, the following rules apply if the Participant’s service (whether as an
Employee, director or Consultant) with the Company or an Affiliate is terminated for Cause prior to the time that all his or her
outstanding Options have been exercised:

 

(a)              
All outstanding and unexercised Options as of the time the Participant is notified his or her service is terminated for
Cause will immediately be forfeited.

 

(b)              Cause
is not limited to events which have occurred prior to a Participant’s termination of service, nor is it necessary that the
Administrator’s finding of Cause occur prior to termination. If the Administrator determines, subsequent to a Participant’s
termination of service but prior to the exercise of an Option, that either prior or subsequent to the Participant’s termination
the Participant engaged in conduct which would constitute Cause, then the right to exercise any Option is forfeited.

 

    11

     

    

 

		15.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR DISABILITY.

 

Except as otherwise
provided in a Participant’s Option Agreement:

 

(a)              
A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate by reason of Disability
may exercise any Option granted to such Participant:

 

		(i)	To the extent that the Option has become exercisable but has not been exercised on the date of
the Participant’s termination of service due to Disability; and

 

		(ii)	In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion
through the date of the Participant’s termination of service due to Disability of any additional vesting rights that would
have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of
days accrued in the current vesting period prior to the date of the Participant’s termination of service due to Disability.

 

(b)              
A Disabled Participant may exercise the Option only within the period ending one year after the date of the Participant’s
termination of service due to Disability, notwithstanding that the Participant might have been able to exercise the Option as to
some or all of the Shares on a later date if the Participant had not been terminated due to Disability and had continued to be
an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. For Options granted to
California Participants, a Participant may exercise such rights for at least six (6) months from the date of termination of service
due to Disability.

 

(c)              
The Administrator shall make the determination both of whether Disability has occurred and the date of its occurrence (unless
a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such
procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved
by the Administrator, the cost of which examination shall be paid for by the Company.

 

		16.	EFFECT ON OPTIONS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT.

 

Except as otherwise
provided in a Participant’s Option Agreement:

 

(a)              
In the event of the death of a Participant while the Participant is an Employee, director or Consultant of the Company or
of an Affiliate, such Option may be exercised by the Participant’s Survivors:

 

    12

     

    

 

		(i)	To the extent that the Option has become exercisable but has not been exercised on the date of
death; and

 

		(ii)	In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion
through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant
not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant’s
date of death.

 

(b)              
If the Participant’s Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option
within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise
the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, director
or Consultant or, if earlier, within the originally prescribed term of the Option. For Options granted to California Participants,
the Participant’s Survivors must be allowed to take all necessary steps to exercise the Option for at least six (6) months
from the date of death of such Participant.

 

		17.	EFFECT OF TERMINATION OF SERVICE ON STOCK GRANTS AND STOCK-BASED AWARDS.

 

In the event of a termination
of service (whether as an Employee, director or Consultant) with the Company or an Affiliate for any reason before the Participant
has accepted a Stock Grant or a Stock-Based Award and paid the purchase price, if required, such grant shall terminate.

 

For purposes of this
Paragraph 17 and Paragraph 18 below, a Participant to whom a Stock Grant has been issued under the Plan who is absent from work
with the Company or with an Affiliate because of temporary disability (any disability other than a Disability as defined in Paragraph
1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue
of such absence alone, to have terminated such Participant’s employment, director status or consultancy with the Company
or with an Affiliate, except as the Administrator may otherwise expressly provide.

 

In addition, for purposes
of this Paragraph 17 and Paragraph 18 below, any change of employment or other service within or among the Company and any Affiliates
shall not be treated as a termination of employment, director status or consultancy so long as the Participant continues to be
an Employee, director or Consultant of the Company or any Affiliate.

 

		18.	EFFECT ON STOCK GRANTS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE OR DEATH OR DISABILITY.

 

Except as
otherwise provided in a Participant’s Stock Grant Agreement, in the event of a termination of service (whether as an
Employee, director or Consultant), other than termination for Cause, Disability, or death for which events there are special
rules in Paragraphs 19, 20, and 21, respectively, before all forfeiture provisions or Company rights of repurchase shall have
lapsed, then the Company shall have the right to cancel or repurchase that number of Shares subject to a Stock Grant as to
which the Company’s forfeiture or repurchase rights have not lapsed.

 

    13

     

    

 

		19.	EFFECT ON STOCK GRANTS OF TERMINATION OF SERVICE FOR CAUSE.

 

Except as otherwise
provided in a Participant’s Stock Grant Agreement, the following rules apply if the Participant’s service (whether
as an Employee, director or Consultant) with the Company or an Affiliate is terminated for Cause:

 

(a)              
All Shares subject to any Stock Grant whether or not then subject to forfeiture or repurchase shall be immediately subject
to repurchase by the Company at the lesser of Fair Market Value or the purchase price, thereof.

 

(b)              
Cause is not limited to events which have occurred prior to a Participant’s termination of service, nor is it necessary
that the Administrator’s finding of Cause occur prior to termination. If the Administrator determines, subsequent to a Participant’s
termination of service, that either prior or subsequent to the Participant’s termination the Participant engaged in conduct
which would constitute Cause, then the Company’s right to repurchase all of such Participant’s Shares shall apply.

 

		20.	EFFECT ON STOCK GRANTS OF TERMINATION OF SERVICE FOR DISABILITY.

 

Except as otherwise
provided in a Participant’s Stock Grant Agreement, the following rules apply if a Participant ceases to be an Employee, director
or Consultant of the Company or of an Affiliate by reason of Disability: to the extent the forfeiture provisions or the Company’s
rights of repurchase have not lapsed on the date of Disability, they shall be exercisable; provided, however, that in the event
such forfeiture provisions or rights of repurchase lapse periodically, such provisions or rights shall lapse to the extent of a
pro rata portion of the Shares subject to such Stock Grant through the date of Disability as would have lapsed had the Participant
not become Disabled. The proration shall be based upon the number of days accrued prior to the date of Disability.

 

The Administrator shall
make the determination both as to whether Disability has occurred and the date of its occurrence (unless a procedure for such determination
is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such
determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost
of which examination shall be paid for by the Company.

 

		21.	EFFECT ON STOCK GRANTS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT.

 

Except as
otherwise provided in a Participant’s Stock Grant Agreement, the following rules apply in the event of the death of a
Participant while the Participant is an Employee, director or Consultant of the Company or of an Affiliate: to the extent the
forfeiture provisions or the Company’s rights of repurchase have not lapsed on the date of death, they shall be
exercisable; provided, however, that in the event such forfeiture provisions or rights of repurchase lapse periodically, such
provisions or rights shall lapse to the extent of a pro rata portion of the Shares subject to such Stock Grant through the
date of death as would have lapsed had the Participant not died. The proration shall be based upon the number of days accrued
prior to the Participant’s date of death.

 

    14

     

    

 

		22.	PURCHASE FOR INVESTMENT.

 

Unless the offering
and sale of the Shares shall have been effectively registered under the Securities Act, the Company shall be under no obligation
to issue Shares under the Plan unless and until the following conditions have been fulfilled:

 

(a)              
The person who receives a Stock Right shall warrant to the Company, prior to the receipt of Shares, that such person is
acquiring such Shares for his or her own account, for investment, and not with a view to, or for sale in connection with, the distribution
of any such Shares, in which event the person acquiring such Shares shall be bound by the provisions of the following legend (or
a legend in substantially similar form) which shall be endorsed upon the certificate evidencing the Shares issued pursuant to such
exercise or such grant:

 

“The shares represented
by this certificate have been taken for investment and they may not be sold or otherwise transferred by any person, including a
pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act
of 1933, as amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration
under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws.”

 

(b)              
At the discretion of the Administrator, the Company shall have received an opinion of its counsel that the Shares may be
issued in compliance with the Securities Act without registration thereunder.

 

		23.	DISSOLUTION OR LIQUIDATION OF THE COMPANY.

 

Upon the dissolution
or liquidation of the Company, all Options granted under this Plan which as of such date shall not have been exercised and all
Stock Grants and Stock-Based Awards which have not been accepted, to the extent required under the applicable Agreement, will terminate
and become null and void; provided, however, that if the rights of a Participant or a Participant’s Survivors have not otherwise
terminated and expired, the Participant or the Participant’s Survivors will have the right immediately prior to such dissolution
or liquidation to exercise or accept any Stock Right to the extent that the Stock Right is exercisable or subject to acceptance
as of the date immediately prior to such dissolution or liquidation. Upon the dissolution or liquidation of the Company, any outstanding
Stock-Based Awards shall immediately terminate unless otherwise determined by the Administrator or specifically provided in the
applicable Agreement.

 

    15

     

    

 

		24.	ADJUSTMENTS.

 

Upon the occurrence
of any of the following events, a Participant’s rights with respect to any Stock Right granted to him or her hereunder shall
be adjusted as hereinafter provided, unless otherwise specifically provided in a Participant’s Agreement:

 

(a)              
Stock Dividends and Stock Splits. If (i) the shares of Common Stock shall be subdivided or combined into a greater
or smaller number of shares or if the Company shall issue any shares of Common Stock as a stock dividend on its outstanding Common
Stock, or (ii) additional shares or new or different shares or other securities of the Company or other non-cash assets are
distributed with respect to such shares of Common Stock, each Stock Right and the number of shares of Common Stock deliverable
thereunder shall be appropriately increased or decreased proportionately, and appropriate adjustments shall be made including,
in the exercise or purchase price per share, to reflect such events. The number of Shares subject to the limitations in Paragraph
3(a) shall also be proportionately adjusted upon the occurrence of such events.

 

(b)              
Corporate Transactions. If the Company is to be consolidated with or acquired by another entity in a merger, consolidation,
or sale of all or substantially all of the Company’s assets other than a transaction to merely change the state of incorporation
(a “Corporate Transaction”), the Administrator or the board of directors of any entity assuming the obligations of
the Company hereunder (the “Successor Board”), shall, as to outstanding Options, either (i) make appropriate provision
for the continuation of such Options by substituting on an equitable basis for the Shares then subject to such Options either the
consideration payable with respect to the outstanding shares of Common Stock in connection with the Corporate Transaction or securities
of any successor or acquiring entity; or (ii) upon written notice to the Participants, provide that such Options must be exercised
(either (A) to the extent then exercisable or, (B) at the discretion of the Administrator, any such Options being made partially
or fully exercisable for purposes of this Subparagraph), within a specified number of days of the date of such notice, at the end
of which period such Options which have not been exercised shall terminate; or (iii) terminate such Options in exchange for payment
of an amount equal to the consideration payable upon consummation of such Corporate Transaction to a holder of the number of shares
of Common Stock into which such Option would have been exercisable (either (A) to the extent then exercisable or, (B) at the discretion
of the Administrator, any such Options being made partially or fully exercisable for purposes of this Subparagraph) less the
aggregate exercise price thereof. For purposes of determining the payments to be made pursuant to Subclause (iii) above, in
the case of a Corporate Transaction the consideration for which, in whole or in part, is other than cash, the consideration other
than cash shall be valued at the fair value thereof as determined in good faith by the Board of Directors.

 

With respect to
outstanding Stock Grants, the Administrator or the Successor Board, shall make appropriate provision for the continuation of
such Stock Grants on the same terms and conditions by substituting on an equitable basis for the Shares then subject to such
Stock Grants either the consideration payable with respect to the outstanding Shares of Common Stock in connection with the
Corporate Transaction or securities of any successor or acquiring entity. In lieu of the foregoing, in connection with any
Corporate Transaction, the Administrator may provide that, upon consummation of the Corporate Transaction, each outstanding
Stock Grant shall be terminated in exchange for payment of an amount equal to the consideration payable upon consummation of
such Corporate Transaction to a holder of the number of shares of Common Stock comprising such Stock Grant (to the extent
such Stock Grant is no longer subject to any forfeiture or repurchase rights then in effect or, at the discretion of the
Administrator, all forfeiture and repurchase rights being waived upon such Corporate Transaction).

 

    16

     

    

 

In taking any of the
actions permitted under this Paragraph 24(b), the Administrator shall not be obligated by the Plan to treat all Stock Rights, all
Stock Rights held by a Participant, or all Stock Rights of the same type, identically.

 

(c)              
Recapitalization or Reorganization. In the event of a recapitalization or reorganization of the Company other than
a Corporate Transaction pursuant to which securities of the Company or of another corporation are issued with respect to the outstanding
shares of Common Stock, a Participant upon exercising an Option or accepting a Stock Grant after the recapitalization or reorganization
shall be entitled to receive for the price paid upon such exercise or acceptance if any, the number of replacement securities which
would have been received if such Option had been exercised or Stock Grant accepted prior to such recapitalization or reorganization.

 

(d)              
Adjustments to Stock-Based Awards. Upon the happening of any of the events described in Subparagraphs (a), (b) or
(c) above, any outstanding Stock-Based Award shall be appropriately adjusted to reflect the events described in such Subparagraphs.
The Administrator or the Successor Board shall determine the specific adjustments to be made under this Paragraph 24, including,
but not limited to the effect of any, Corporate Transaction and, subject to Paragraph 4, its determination shall be conclusive.

 

(e)              
Modification of Options. Notwithstanding the foregoing, any adjustments made pursuant to Subparagraph (a), (b) or
(c) above with respect to Options shall be made only after the Administrator determines whether such adjustments would (i) constitute
a “modification” of any ISOs (as that term is defined in Section 424(h) of the Code) or (ii) cause any adverse
tax consequences for the holders of Options, including, but not limited to, pursuant to Section 409A of the Code. If the Administrator
determines that such adjustments made with respect to Options would constitute a modification or other adverse tax consequence,
it may refrain from making such adjustments, unless the holder of an Option specifically agrees in writing that such adjustment
be made and such writing indicates that the holder has full knowledge of the consequences of such “modification” on
his or her income tax treatment with respect to the Option. This paragraph shall not apply to the acceleration of the vesting of
any ISO that would cause any portion of the ISO to violate the annual vesting limitation contained in Section 422(d) of the Code,
as described in Paragraph 6(b)(iv).

 

		25.	ISSUANCES OF SECURITIES.

 

Except as expressly
provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of
any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject
to Stock Rights. Except as expressly provided herein, no adjustments shall be made for dividends paid in cash or in property (including
without limitation, securities) of the Company prior to any issuance of Shares pursuant to a Stock Right.

 

    17

     

    

 

		26.	FRACTIONAL SHARES.

 

No fractional shares
shall be issued under the Plan and the person exercising a Stock Right shall receive from the Company cash in lieu of such fractional
shares equal to the Fair Market Value thereof.

 

		27.	CONVERSION OF ISOs INTO NON-QUALIFIED OPTIONS;
TERMINATION OF ISOs.

 

The Administrator,
at the written request of any Participant, may in its discretion take such actions as may be necessary to convert such Participant’s
ISOs (or any portions thereof) that have not been exercised on the date of conversion into Non-Qualified Options at any time
prior to the expiration of such ISOs, regardless of whether the Participant is an Employee of the Company or an Affiliate at the
time of such conversion. At the time of such conversion, the Administrator (with the consent of the Participant) may impose such
conditions on the exercise of the resulting Non-Qualified Options as the Administrator in its discretion may determine, provided
that such conditions shall not be inconsistent with this Plan. Nothing in the Plan shall be deemed to give any Participant the
right to have such Participant’s ISOs converted into Non-Qualified Options, and no such conversion shall occur until
and unless the Administrator takes appropriate action. The Administrator, with the consent of the Participant, may also terminate
any portion of any ISO that has not been exercised at the time of such conversion.

 

		28.	WITHHOLDING.

 

In the event that any
federal, state, or local income taxes, employment taxes, Federal Insurance Contributions Act (“F.I.C.A.”) withholdings
or other amounts are required by applicable law or governmental regulation to be withheld from the Participant’s salary,
wages or other remuneration in connection with the issuance of a Stock Right or Shares under the Plan or for any other reason required
by law, the Company may withhold from the Participant’s compensation, if any, or may require that the Participant advance
in cash to the Company, or to any Affiliate of the Company which employs or employed the Participant, the statutory minimum amount
of such withholdings unless a different withholding arrangement, including the use of shares of the Company’s Common Stock
or a promissory note, is authorized by the Administrator (and permitted by law). For purposes hereof, the fair market value of
the shares withheld for purposes of payroll withholding shall be determined in the manner set forth under the definition of Fair
Market Value provided in Paragraph 1 above, as of the most recent practicable date prior to the date of exercise. If the Fair Market
Value of the shares withheld is less than the amount of payroll withholdings required, the Participant may be required to advance
the difference in cash to the Company or the Affiliate employer. The Administrator in its discretion may condition the exercise
of an Option for less than the then Fair Market Value on the Participant’s payment of such additional withholding.

 

		29.	NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION.

 

Each Employee who
receives an ISO must agree to notify the Company in writing immediately after the Employee makes a Disqualifying Disposition
of any Shares acquired pursuant to the exercise of an ISO. A Disqualifying Disposition is defined in Section 424(c) of the
Code and includes any disposition (including any sale or gift) of such Shares before the later of (a) two years after the
date the Employee was granted the ISO, or (b) one year after the date the Employee acquired Shares by exercising the ISO,
except as otherwise provided in Section 424(c) of the Code. If the Employee has died before such Shares are sold, these
holding period requirements do not apply and no Disqualifying Disposition can occur thereafter.

 

    18

     

    

 

		30.	TERMINATION OF THE PLAN.

 

The Plan will terminate
on March 27, 2022, the date which is ten years from the earlier of the date of its adoption by the Board of Directors and
the date of its approval by the shareholders of the Company. The Plan may be terminated at an earlier date by vote of the shareholders
or the Board of Directors of the Company; provided, however, that any such earlier termination shall not affect any Agreements
executed prior to the effective date of such termination. Termination of the Plan shall not affect any Stock Rights theretofore
granted.

 

		31.	AMENDMENT OF THE PLAN AND AGREEMENTS.

 

The Plan may be amended
by the shareholders of the Company. The Plan may also be amended by the Administrator, including, without limitation, to the extent
necessary to qualify any or all outstanding Stock Rights granted under the Plan or Stock Rights to be granted under the Plan for
favorable federal income tax treatment as may be afforded incentive stock options under Section 422 of the Code (including deferral
of taxation upon exercise), and to the extent necessary to qualify the Shares issuable under the Plan for listing on any national
securities exchange or quotation in any national automated quotation system of securities dealers. Any amendment approved by the
Administrator which the Administrator determines is of a scope that requires shareholder approval shall be subject to obtaining
such shareholder approval. Any modification or amendment of the Plan shall not, without the consent of a Participant, adversely
affect his or her rights under a Stock Right previously granted to him or her. With the consent of the Participant affected, the
Administrator may amend outstanding Agreements in a manner which may be adverse to the Participant but which is not inconsistent
with the Plan. In the discretion of the Administrator, outstanding Agreements may be amended by the Administrator in a manner which
is not adverse to the Participant.

 

		32.	EMPLOYMENT OR OTHER RELATIONSHIP.

 

Nothing in this Plan
or any Agreement shall be deemed to prevent the Company or an Affiliate from terminating the employment, consultancy or director
status of a Participant, nor to prevent a Participant from terminating his or her own employment, consultancy or director status
or to give any Participant a right to be retained in employment or other service by the Company or any Affiliate for any period
of time.

 

		33.	GOVERNING LAW.

 

This Plan shall be
construed and enforced in accordance with the law of the State of Delaware.

 

    19Exhibit 10.16.2

 

BUTTERFLY NETWORK, INC.

 

Stock Option Grant Notice

Stock Option Grant under the Company’s

2012 Employee, Director and Consultant Equity
Incentive Plan

 

	1.	 Name and Address of Participant:
	 
	2.	Date of Option Grant:
	 
	3.	Type of Grant:
	 
	4.	Maximum Number of Shares for which this Option is
    exercisable:
	 	
	5.	Exercise (purchase) price per share:
	 
	6.	Option Expiration Date:

 

7.            Vesting
Schedule: This Option shall become exercisable (and the Shares issued upon exercise shall be vested) as follows provided the Participant
is an Employee, director or Consultant of the Company or of an Affiliate on the applicable vesting date:

 

[INSERT VESTING PROVISIONS]

 

The foregoing rights
are cumulative and are subject to the other terms and conditions of this Agreement and the Plan.

 

The Company and the
Participant acknowledge receipt of this Stock Option Grant Notice and agree to the terms of the Stock Option Agreement attached
hereto and incorporated by reference herein, the Company’s 2012 Employee, Director and Consultant Equity Incentive Plan and
the terms of this Option Grant as set forth above.

 

	 	BUTTERFLY NETWORK, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	 
	 	Participant

 

     

     

    

 

BUTTERFLY NETWORK, INC.

 

STOCK OPTION AGREEMENT - INCORPORATED
TERMS AND CONDITIONS

 

AGREEMENT made as of
the date of grant set forth in the Stock Option Grant Notice by and between Butterfly Network, Inc. (the “Company”),
a Delaware corporation, and the individual whose name appears on the Stock Option Grant Notice (the “Participant”).

 

WHEREAS, the Company
desires to grant to the Participant an Option to purchase shares of its common stock, $0.0001 par value per share (the “Shares”),
under and for the purposes set forth in the Company’s 2012 Employee, Director and Consultant Equity Incentive Plan (the “Plan”);

 

WHEREAS, the Company
and the Participant understand and agree that any terms used and not defined herein have the same meanings as in the Plan; and

 

WHEREAS, the Company
and the Participant each intend that the Option granted herein shall be of the type set forth in the Stock Option Grant Notice.

 

NOW, THEREFORE, in
consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties hereto agree
as follows:

 

1.       GRANT
OF OPTION.

 

The Company hereby
grants to the Participant the right and option to purchase all or any part of an aggregate of the number of Shares set forth in
the Stock Option Grant Notice, on the terms and conditions and subject to all the limitations set forth herein, under United States
securities and tax laws, and in the Plan, which is incorporated herein by reference. The Participant acknowledges receipt of a
copy of the Plan.

 

2.       EXERCISE
PRICE.

 

The exercise price
of the Shares covered by the Option shall be the amount per Share set forth in the Stock Option Grant Notice, subject to adjustment,
as provided in the Plan, in the event of a stock split, reverse stock split or other events affecting the holders of Shares after
the date hereof (the “Exercise Price”). Payment shall be made in accordance with Paragraph 9 of the Plan.

 

3.       EXERCISABILITY
OF OPTION.

 

Subject to the
terms and conditions set forth in this Agreement and the Plan, the Option granted hereby shall become vested and exercisable as
set forth in the Stock Option Grant Notice and is subject to the other terms and conditions of this Agreement and the Plan.

 

     

     

    

 

4.       TERM
OF OPTION.

 

This Option shall
terminate on the Option Expiration Date as specified in the Stock Option Grant Notice and, if this Option is designated in the
Stock Option Grant Notice as an ISO and the Participant owns as of the date hereof more than 10% of the total combined voting power
of all classes of capital stock of the Company or an Affiliate, such date may not be more than five years from the date of this
Agreement, but shall be subject to earlier termination as provided herein or in the Plan.

 

If the Participant
ceases to be an Employee, director or Consultant of the Company or of an Affiliate for any reason other than the death or Disability
of the Participant, or termination of the Participant for Cause (the “Termination Date”), the Option to the extent
then vested and exercisable pursuant to Section 3 hereof as of the Termination Date, and not previously terminated in accordance
with this Agreement, may be exercised within three months after the Termination Date, or on or prior to the Option Expiration Date
as specified in the Stock Option Grant Notice, whichever is earlier, but may not be exercised thereafter except as set forth below.
In such event, the unvested portion of the Option shall not be exercisable and shall expire and be cancelled on the Termination
Date.

 

If this Option
is designated in the Stock Option Grant Notice as an ISO and the Participant ceases to be an Employee of the Company or of an Affiliate
but continues after termination of employment to provide service to the Company or an Affiliate as a director or Consultant, this
Option shall continue to vest in accordance with Section 3 above as if this Option had not terminated until the Participant is
no longer providing services to the Company. In such case, this Option shall automatically convert and be deemed a Non-Qualified
Option as of the date that is three months from termination of the Participant's employment and this Option shall continue on the
same terms and conditions set forth herein until such Participant is no longer providing service to the Company or an Affiliate.

 

Notwithstanding
the foregoing, in the event of the Participant’s Disability or death within three months after the Termination Date, the
Participant or the Participant’s Survivors may exercise the Option within one year after the Termination Date, but in no
event after the Option Expiration Date as specified in the Stock Option Grant Notice.

 

In the event the
Participant’s service is terminated by the Company or an Affiliate for Cause, the Participant’s right to exercise any
unexercised portion of this Option even if vested shall cease immediately as of the time the Participant is notified his or her
service is terminated for Cause, and this Option shall thereupon terminate. Notwithstanding anything herein to the contrary, if
subsequent to the Participant’s termination, but prior to the exercise of the Option, the Administrator determines that,
either prior or subsequent to the Participant’s termination, the Participant engaged in conduct which would constitute Cause,
then the Participant shall immediately cease to have any right to exercise the Option and this Option shall thereupon terminate.

 

    2 

     

    

 

In the event of
the Disability of the Participant, as determined in accordance with the Plan, the Option shall be exercisable within one year after
the Participant’s termination of service due to Disability or, if earlier, on or prior to the Option Expiration Date as specified
in the Stock Option Grant Notice. In such event, the Option shall be exercisable:

 

		(a)	to the extent that the Option has become exercisable but has not been exercised as of the date
of the Participant’s termination of service due to Disability; and

 

		(b)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion
through the date of the Participant’s termination of service due to Disability of any additional vesting rights that would
have accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of
days accrued in the current vesting period prior to the date of the Participant’s termination of service due to Disability.

 

In the event of
the death of the Participant while an Employee, director or Consultant of the Company or of an Affiliate, the Option shall be exercisable
by the Participant’s Survivors within one year after the date of death of the Participant or, if earlier, on or prior to
the Option Expiration Date as specified in the Stock Option Grant Notice. In such event, the Option shall be exercisable:

 

		(x)	to the extent that the Option has become exercisable but has not been exercised as of the date
of death; and

 

		(y)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion
through the date of death of any additional vesting rights that would have accrued on the next vesting date had the Participant
not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant’s
date of death.

 

5.       METHOD
OF EXERCISING OPTION.

 

Subject to
the terms and conditions of this Agreement, the Option may be exercised by written notice to the Company or its designee, in
substantially the form of Exhibit A attached hereto (or in such other form acceptable to the Company, which may
include electronic notice). Such notice shall state the number of Shares with respect to which the Option is being exercised
and shall be signed by the person exercising the Option (which signature may be provided electronically in a form acceptable
to the Company). Payment of the Exercise Price for such Shares shall be made in accordance with Paragraph 9 of the Plan. The
Company shall deliver such Shares as soon as practicable after the notice shall be received, provided, however, that the
Company may delay issuance of such Shares until completion of any action or obtaining of any consent, which the Company deems
necessary under any applicable law (including, without limitation, state securities or “blue sky” laws). The
Shares as to which the Option shall have been so exercised shall be registered in the Company’s share register in the
name of the person so exercising the Option (or, if the Option shall be exercised by the Participant and if the Participant
shall so request in the notice exercising the Option, shall be registered in the Company’s share register in the name
of the Participant and another person jointly, with right of survivorship) and shall be delivered as provided above to or
upon the written order of the person exercising the Option. In the event the Option shall be exercised, pursuant to Section 4
hereof, by any person other than the Participant, such notice shall be accompanied by appropriate proof of the right of such
person to exercise the Option. All Shares that shall be purchased upon the exercise of the Option as provided herein shall be
fully paid and nonassessable.

 

    3 

     

    

 

		6.	PARTIAL EXERCISE.

 

Exercise of this
Option to the extent above stated may be made in part at any time and from time to time within the above limits, except that no
fractional share shall be issued pursuant to this Option.

 

		7.	NON-ASSIGNABILITY.

 

The Option shall
not be transferable by the Participant otherwise than by will or by the laws of descent and distribution. For California Participants,
the Option shall not be transferable other than by will, by the laws of descent and distribution, to a revocable trust or as permitted
by Rule 701 of the Securities Act of 1933. If this Option is a Non-Qualified Option then it may also be transferred pursuant to
a qualified domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act or the rules
thereunder and the Participant, with the approval of the Administrator, may transfer the Option for no consideration to or for
the benefit of the Participant’s Immediate Family (including, without limitation, to a trust for the benefit of the Participant’s
Immediate Family or to a partnership or limited liability company for one or more members of the Participant’s Immediate
Family), subject to such limits as the Administrator may establish, and the transferee shall remain subject to all the terms and
conditions applicable to the Option prior to such transfer and each such transferee shall so acknowledge in writing as a condition
precedent to the effectiveness of such transfer. The term “Immediate Family” shall mean the Participant’s spouse,
former spouse, parents, children, stepchildren, adoptive relationships, sisters, brothers, nieces, nephews and grandchildren (and,
for this purpose, shall also include the Participant). Except as provided above in this paragraph, the Option shall be exercisable,
during the Participant’s lifetime, only by the Participant (or, in the event of legal incapacity or incompetency, by the
Participant’s guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation
of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment,
pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of this
Section 7, or the levy of any attachment or similar process upon the Option shall be null and void.

 

		8.	NO RIGHTS AS STOCKHOLDER UNTIL EXERCISE.

 

The
Participant shall have no rights as a stockholder with respect to Shares subject to this Agreement until registration of the
Shares in the Company’s share register in the name of the Participant. Except as is expressly provided in the Plan with
respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar rights
for which the record date is prior to the date of such registration.

 

    4 

     

    

 

		9.	ADJUSTMENTS.

 

The Plan contains
provisions covering the treatment of Options in a number of contingencies such as stock splits and mergers. Provisions in the Plan
for adjustment with respect to stock subject to Options and the related provisions with respect to successors to the business of
the Company are hereby made applicable hereunder and are incorporated herein by reference.

 

		10.	TAXES.

 

The Participant
acknowledges and agrees that (i) any income or other taxes due from the Participant with respect to this Option or the Shares issuable
upon exercise of this Option shall be the Participant’s responsibility; (ii) the Participant was free to use professional
advisors of his or her choice in connection with this Agreement, has received advice from his or her professional advisors in connection
with this Agreement, understands its meaning and import, and is entering into this Agreement freely and without coercion or duress;
(iii) the Participant has not received and is not relying upon any advice, representations or assurances made by or on behalf of
the Company or any Affiliate or any Employee of or counsel to the Company or any Affiliate regarding any tax or other effects or
implications of the Option, the Shares or other matters contemplated by this Agreement and (iv) neither the Administrator, the
Company, its Affiliates, nor any of its officers or directors, shall be held liable for any applicable costs, taxes, or penalties
associated with the Option if, in fact, the Internal Revenue Service were to determine that the Option constitutes deferred compensation
under Section 409A of the Code.

 

If this Option
is designated in the Stock Option Grant Notice as a Non-Qualified Option or if the Option is an ISO and is converted into a Non-Qualified
Option and such Non-Qualified Option is exercised, the Participant agrees that the Company may withhold from the Participant’s
remuneration, if any, the minimum statutory amount of federal, state and local withholding taxes attributable to such amount that
is considered compensation includable in such person’s gross income. At the Company’s discretion, the amount required
to be withheld may be withheld in cash from such remuneration, or in kind from the Shares otherwise deliverable to the Participant
on exercise of the Option. The Participant further agrees that, if the Company does not withhold an amount from the Participant’s
remuneration sufficient to satisfy the Company’s income tax withholding obligation, the Participant will reimburse the Company
on demand, in cash, for the amount under-withheld.

 

		11.	PURCHASE FOR INVESTMENT.

 

Unless the
offering and sale of the Shares to be issued upon the particular exercise of the Option shall have been effectively
registered under the Securities Act of 1933, as now in force or hereafter amended (the “1933 Act”), the Company
shall be under no obligation to issue the Shares covered by such exercise unless the Company has determined that such
exercise and issuance would be exempt from the registration requirements of the 1933 Act and until the following conditions
have been fulfilled:

 

    5 

     

    

 

		(a)	The person(s) who exercise the Option shall warrant to the Company, at the time of such exercise,
that such person(s) are acquiring such Shares for their own respective accounts, for investment, and not with a view to, or for
sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring such Shares shall be bound
by the provisions of the following legend which shall be endorsed upon any certificate(s) evidencing the Shares issued pursuant
to such exercise:

 

“The shares represented
by this certificate have been taken for investment and they may not be sold or otherwise transferred by any person, including a
pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act
of 1933, as amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration
under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws;”
and

 

		(b)	If the Company so requires, the Company shall have received an opinion of its counsel that the
Shares may be issued upon such particular exercise in compliance with the 1933 Act without registration thereunder. Without limiting
the generality of the foregoing, the Company may delay issuance of the Shares until completion of any action or obtaining of any
consent, which the Company deems necessary under any applicable law (including without limitation state securities or “blue
sky” laws).

 

		12.	RESTRICTIONS ON TRANSFER OF SHARES.

 

12.1       The
Shares acquired by the Participant pursuant to the exercise of the Option granted hereby shall not be transferred by the Participant
except as permitted herein. If the Participant is or becomes a party to a separate Stockholders’ Agreement with the Company
and the terms of this Agreement and such Stockholders’ Agreement conflict, the terms contained in such Stockholders’
Agreement shall govern and supersede any conflicting provision contained in this Section 12.

 

12.2       In
the event of the Participant’s termination of service for any reason, the Company shall have the option, but not the
obligation, to repurchase all or any part of the Shares issued pursuant to this Agreement (including, without limitation,
Shares purchased after termination of service, Disability or death in accordance with Section 4 hereof). In the event the
Company does not, upon the termination of service of the Participant (as described above), exercise its option pursuant to
this Section 12.2, the restrictions set forth in the balance of this Agreement shall not thereby lapse, and the Participant
for himself or herself, his or her heirs, legatees, executors, administrators and other successors in interest, agrees that
the Shares shall remain subject to such restrictions. The following provisions shall apply to a repurchase under this Section
12.2:

 

    6 

     

    

 

		(i)	The per share repurchase price of the Shares to be sold to the Company upon exercise of its option
under this Section 12.2 shall be equal to the Fair Market Value of each such Share determined in accordance with the Plan as of
the date of termination of service, provided, however, in the event of a termination by the Company for Cause, the per share repurchase
price of the Shares to be sold to the Company upon exercise of its option under this Section 12.2 shall be equal to the lesser
of the Exercise Price and the Fair Market Value on the date of the repurchase.

 

		(ii)	The Company’s option to repurchase the Participant’s Shares in the event of termination
of service shall be valid for a period of 18 months commencing with the date of such termination of service.

 

		(iii)	In the event the Company shall be entitled to and shall elect to exercise its option to repurchase
the Participant’s Shares under this Section 12.2, the Company shall notify the Participant, or in case of death, his or her
Survivor, in writing of its intent to repurchase the Shares. Such written notice may be mailed by the Company up to and including
the last day of the time period provided for in Section 12.2(ii) for exercise of the Company’s option to repurchase.

 

		(iv)	The written notice to the Participant shall specify the address at, and the time and date on, which
payment of the repurchase price is to be made (the “Closing”). The date specified shall not be less than ten days nor
more than 60 days from the date of the mailing of the notice, and the Participant or his or her successor in interest with respect
to the Shares shall have no further rights as the owner thereof from and after the date specified in the notice. At the Closing,
the repurchase price shall be delivered to the Participant or his or her successor in interest and the Shares being purchased,
duly endorsed for transfer, shall, to the extent that they are not then in the possession of the Company, be delivered to the Company
by the Participant or his or her successor in interest.

 

12.3       It
shall be a condition precedent to the validity of any sale or other transfer of any Shares by the Participant that the following
restrictions be complied with (except as otherwise provided in this Section 12):

 

		(i)	No Shares owned by the Participant may be sold, pledged or otherwise transferred (including by
gift or devise) to any person or entity, voluntarily, or by operation of law, except in accordance with the terms and conditions
hereinafter set forth.

 

		(ii)	Before selling or otherwise transferring all or part of the Shares, the Participant shall give
written notice of such intention to the Company, which notice shall include the name of the proposed transferee, the proposed purchase
price per share, the terms of payment of such purchase price and all other matters relating to such sale or transfer and shall
be accompanied by a copy of the binding written agreement of the proposed transferee to purchase the Shares of the Participant.
Such notice shall constitute a binding offer by the Participant to sell to the Company such number of the Shares then held by the
Participant as are proposed to be sold in the notice at the monetary price per share designated in such notice, payable on the
terms offered to the Participant by the proposed transferee (provided, however, that the Company shall not be required to meet
any non-monetary terms of the proposed transfer, including, without limitation, delivery of other securities in exchange for
the Shares proposed to be sold). The Company shall give written notice to the Participant as to whether such offer has been accepted
in whole by the Company within 60 days after its receipt of written notice from the Participant. The Company may only accept such
offer in whole and may not accept such offer in part. Such acceptance notice shall fix a time, location and date for the Closing
on such purchase (“Closing Date”) which shall not be less than ten nor more than sixty days after the giving of the
acceptance notice, provided, however, if any of the Shares to be sold pursuant to this Section 12.3 have been held by the Participant
for less than six months, then the Closing Date may be extended by the Company until no more than ten days after such Shares have
been held by the Participant for six months if required under applicable accounting rules in effect at the time. The place for
such Closing shall be at the Company’s principal office. At such Closing, the Participant shall accept payment as set forth
herein and shall deliver to the Company in exchange therefor certificates for the number of Shares stated in the notice accompanied
by duly executed instruments of transfer.

 

    7 

     

    

 

		(iii)	If the Company shall fail to accept any such offer, the Participant shall be free to sell all,
but not less than all, of the Shares set forth in his or her notice to the designated transferee at the price and terms designated
in the Participant’s notice, provided that (i) such sale is consummated within six months after the giving of notice by the
Participant to the Company as aforesaid, and (ii) the transferee first agrees in writing to be bound by the provisions of this
Section 12 so that such transferee (and all subsequent transferees) shall thereafter only be permitted to sell or transfer the
Shares in accordance with the terms hereof. After the expiration of such six months, the provisions of this Section 12.3 shall
again apply with respect to any proposed voluntary transfer of the Participant’s Shares.

 

 

		(iv)	The restrictions on transfer contained in this Section 12.3 shall not apply to (a) transfers by
the Participant to his or her spouse or children or to a trust for the benefit of his or her spouse or children, (b) transfers
by the Participant to his or her guardian or conservator, and (c) transfers by the Participant, in the event of his or her death,
to his or her executor(s) or administrator(s) or to trustee(s) under his or her will (collectively, “Permitted Transferees”);
provided however, that in any such event the Shares so transferred in the hands of each such Permitted Transferee shall remain
subject to this Agreement, and each such Permitted Transferee shall so acknowledge in writing as a condition precedent to the effectiveness
of such transfer.

 

    8 

     

    

 

		(v)	The provisions of this Section 12.3 may be waived by the Company. Any such waiver may be unconditional
or based upon such conditions as the Company may impose.

 

12.4       In
the event that the Participant or his or her successor in interest fails to deliver the Shares to be repurchased by the Company
under this Agreement, the Company may elect (a) to establish a segregated account in the amount of the repurchase price, such
account to be turned over to the Participant or his or her successor in interest upon delivery of such Shares, and (b) immediately
to take such action as is appropriate to transfer record title of such Shares from the Participant to the Company and to treat
the Participant and such Shares in all respects as if delivery of such Shares had been made as required by this Agreement. The
Participant hereby irrevocably grants the Company a power of attorney which shall be coupled with an interest for the purpose of
effectuating the preceding sentence.

 

12.5       If
the Company shall pay a stock dividend or declare a stock split on or with respect to any of its Common Stock, or otherwise distribute
securities of the Company to the holders of its Common Stock, the number of shares of stock or other securities of the Company
issued with respect to the shares then subject to the restrictions contained in this Agreement shall be added to the Shares subject
to the Company’s rights to repurchase pursuant to this Agreement. If the Company shall distribute to its stockholders shares
of stock of another corporation, the shares of stock of such other corporation, distributed with respect to the Shares then subject
to the restrictions contained in this Agreement, shall be added to the Shares subject to the Company’s rights to repurchase
pursuant to this Agreement.

 

12.6       If
the outstanding shares of Common Stock of the Company shall be subdivided into a greater number of shares or combined into a smaller
number of shares, or in the event of a reclassification of the outstanding shares of Common Stock of the Company, or if the Company
shall be a party to a merger, consolidation or capital reorganization, there shall be substituted for the Shares then subject to
the restrictions contained in this Agreement such amount and kind of securities as are issued in such subdivision, combination,
reclassification, merger, consolidation or capital reorganization in respect of the Shares subject immediately prior thereto to
the Company’s rights to repurchase pursuant to this Agreement.

 

12.7       The
Company shall not be required to transfer any Shares on its books which shall have been sold, assigned or otherwise transferred
in violation of this Agreement, or to treat as owner of such Shares, or to accord the right to vote as such owner or to pay dividends
to, any person or organization to which any such Shares shall have been so sold, assigned or otherwise transferred, in violation
of this Agreement.

 

12.8       The
provisions of Sections 12.1, 12.2 and 12.3 shall terminate upon the effective date of the registration of the Shares pursuant to
the Securities Exchange Act of 1934.

 

12.9       The
Participant agrees that in the event the Company proposes to offer for sale to the public any of its equity securities and
such Participant is requested by the Company and any underwriter engaged by the Company in connection with such offering to
sign an agreement restricting the sale or other transfer of Shares, then it will promptly sign such agreement and will not
transfer, whether in privately negotiated transactions or to the public in open market transactions or otherwise, any Shares
or other securities of the Company held by him or her during such period as is determined by the Company and the
underwriters, not to exceed 180 days following the closing of the offering, plus such additional period of time as may be
required to comply with NASD Rule 2711 or similar rules thereto (such period, the “Lock-Up Period”). Such
agreement shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and
pursuant to customary and prevailing terms and conditions. Notwithstanding whether the Participant has signed such an
agreement, the Company may impose stop-transfer instructions with respect to the Shares or other securities of the Company
subject to the foregoing restrictions until the end of the Lock-Up Period.

 

    9 

     

    

 

12.10       The
Participant acknowledges and agrees that neither the Company, its shareholders nor its directors and officers, has any duty or
obligation to disclose to the Participant any material information regarding the business of the Company or affecting the value
of the Shares before, at the time of, or following a termination of the service of the Participant by the Company, including, without
limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or
merged with or into another firm or entity.

 

12.11       All
certificates representing the Shares to be issued to the Participant pursuant to this Agreement shall have endorsed thereon a legend
substantially as follows: “The shares represented by this certificate are subject to restrictions set forth in a Stock
Option Agreement dated [ ] with this Company, a copy of which Agreement is available for inspection at the offices of the Company
or will be made available upon request.”

 

		13.	NO OBLIGATION TO MAINTAIN RELATIONSHIP.

 

The Participant
acknowledges that: (i) the Company is not by the Plan or this Option obligated to continue the Participant as an Employee, director
or Consultant of the Company or an Affiliate; (ii) the Plan is discretionary in nature and may be suspended or terminated by the
Company at any time; (iii) the grant of the Option is a one-time benefit which does not create any contractual or other right to
receive future grants of options, or benefits in lieu of options; (iv) all determinations with respect to any such future grants,
including, but not limited to, the times when options shall be granted, the number of shares subject to each option, the option
price, and the time or times when each option shall be exercisable, will be at the sole discretion of the Company; (v) the Participant’s
participation in the Plan is voluntary; (vi) the value of the Option is an extraordinary item of compensation which is outside
the scope of the Participant’s employment or consulting contract, if any; and (vii) the Option is not part of normal or expected
compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service
awards, pension or retirement benefits or similar payments.

 

    10 

     

    

 

		14.	IF OPTION IS INTENDED TO BE AN ISO.

 

If this Option
is designated in the Stock Option Grant Notice as an ISO so that the Participant (or the Participant’s Survivors) may qualify
for the favorable tax treatment provided to holders of Options that meet the standards of Section 422 of the Code then any provision
of this Agreement or the Plan which conflicts with the Code so that this Option would not be deemed an ISO is null and void and
any ambiguities shall be resolved so that the Option qualifies as an ISO. The Participant should consult with the Participant’s
own tax advisors regarding the tax effects of the Option and the requirements necessary to obtain favorable tax treatment under
Section 422 of the Code, including, but not limited to, holding period requirements.

 

Notwithstanding
the foregoing, to the extent that the Option is designated in the Stock Option Grant Notice as an ISO and
is not deemed to be an ISO pursuant to Section 422(d) of the Code because the aggregate Fair Market Value (determined as of the
Date of Option Grant) of any of the Shares with respect to which this ISO is granted becomes exercisable for the first time during
any calendar year in excess of $100,000, the portion of the Option representing such excess value shall be treated as a Non-Qualified
Option and the Participant shall be deemed to have taxable income measured by the difference between the then Fair Market Value
of the Shares received upon exercise and the price paid for such Shares pursuant to this Agreement. 

 

Neither the Company nor
any Affiliate shall have any liability to the Participant, or any other party, if the Option (or any part thereof) that is intended
to be an ISO is not an ISO or for any action taken by the Administrator, including without limitation the conversion of an ISO
to a Non-Qualified Option.

 

		15.	NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION OF AN ISO.

 

If this Option
is designated in the Stock Option Grant Notice as an ISO then the Participant agrees to notify the Company in writing immediately
after the Participant makes a Disqualifying Disposition of any of the Shares acquired pursuant to the exercise of the ISO. A Disqualifying
Disposition is defined in Section 424(c) of the Code and includes any disposition (including any sale) of such Shares before the
later of (a) two years after the date the Participant was granted the ISO or (b) one year after the date the Participant acquired
Shares by exercising the ISO, except as otherwise provided in Section 424(c) of the Code. If the Participant has died before the
Shares are sold, these holding period requirements do not apply and no Disqualifying Disposition can occur thereafter.

 

		16.	NOTICES.

 

Any notices required
or permitted by the terms of this Agreement or the Plan shall be given by recognized courier service, facsimile, registered or
certified mail, return receipt requested, addressed as follows:

 

If to the Company:

 

[ADDRESS

 

Attention: ]

 

If to the Participant at the address set forth on the Stock
Option Grant Notice;

 

or to such other address or addresses of which notice in the
same manner has previously been given. Any such notice shall be deemed to have been given upon the earlier of receipt, one business
day following delivery to a recognized courier service or three business days following mailing by registered or certified mail.

 

    11 

     

    

 

		17.	GOVERNING LAW.

 

This Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the conflict
of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, the parties hereby consent
to exclusive jurisdiction in Connecticut and agree that such litigation shall be conducted in the state courts of Connecticut or
the federal courts of the United States for the District of Connecticut.

 

		18.	BENEFIT OF AGREEMENT.

 

Subject to the
provisions of the Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be binding upon the
heirs, executors, administrators, successors and assigns of the parties hereto.

 

		19.	ENTIRE AGREEMENT AND SIGNATURES.

 

This Agreement,
together with the Plan, embodies the entire agreement and understanding between the parties hereto with respect to the subject
matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No
statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to
interpret, change or restrict, the express terms and provisions of this Agreement, provided, however, in any event, this Agreement
shall be subject to and governed by the Plan. This Agreement may be executed and delivered via facsimile, email or other electronic
transmission with the same force and effect as if an original were executed and may be signed in any number of counterparts, with
the same effect as if the signatures hereto were upon the same instrument.

 

		20.	MODIFICATIONS AND AMENDMENTS.

 

The terms and provisions
of this Agreement may be modified or amended as provided in the Plan.

 

		21.	WAIVERS AND CONSENTS.

 

Except as
provided in the Plan, the terms and provisions of this Agreement may be waived, or consent for the departure therefrom
granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver
or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of
this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for
the purpose for which it was given, and shall not constitute a continuing waiver or consent.

 

    12 

     

    

 

22.       DATA
PRIVACY.

 

By entering into
this Agreement, the Participant: (i) authorizes the Company and each Affiliate, and any agent of the Company or any Affiliate administering
the Plan or providing Plan recordkeeping services, to disclose to the Company or any of its Affiliates such information and data
as the Company or any such Affiliate shall request in order to facilitate the grant of options and the administration of the Plan;
and (ii) authorizes the Company and each Affiliate to store and transmit such information in electronic form for the purposes set
forth in this Agreement.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    13 

     

    

 

 

Exhibit A

 

NOTICE OF EXERCISE OF STOCK OPTION

 

[Form for Unregistered Shares]

 

To:Butterfly Network, Inc.

 

Ladies and Gentlemen:

 

I hereby exercise my
Stock Option to purchase __________ shares (the “Shares”) of the common stock, $0.0001 par value, of Butterfly Network,
Inc. (the “Company”), at the exercise price of $_____ per share, pursuant to and subject to the terms of that certain
Stock Option Agreement between the undersigned and the Company dated ________, 202_.

 

I am aware that the
Shares have not been registered under the Securities Act of 1933, as amended (the “1933 Act”), or any state securities
laws. I understand that the reliance by the Company on exemptions under the 1933 Act is predicated in part upon the truth and accuracy
of the statements by me in this Notice of Exercise.

 

I hereby represent
and warrant that (1) I have been furnished with all information which I deem necessary to evaluate the merits and risks of the
purchase of the Shares; (2) I have had the opportunity to ask questions concerning the Shares and the Company and all questions
posed have been answered to my satisfaction; (3) I have been given the opportunity to obtain any additional information I deem
necessary to verify the accuracy of any information obtained concerning the Shares and the Company; and (4) I have such knowledge
and experience in financial and business matters that I am able to evaluate the merits and risks of purchasing the Shares and to
make an informed investment decision relating thereto.

 

I hereby represent
and warrant that I am purchasing the Shares for my own personal account for investment and not with a view to the sale or distribution
of all or any part of the Shares.

 

I understand that because
the Shares have not been registered under the 1933 Act, I must continue to bear the economic risk of the investment for an indefinite
time and the Shares cannot be sold unless the Shares are subsequently registered under applicable federal and state securities
laws or an exemption from such registration requirements is available.

 

I agree that I will
in no event sell or distribute or otherwise dispose of all or any part of the Shares unless (1) there is an effective registration
statement under the 1933 Act and applicable state securities laws covering any such transaction involving the Shares or (2) the
Company receives an opinion of my legal counsel (concurred in by legal counsel for the Company) stating that such transaction is
exempt from registration or the Company otherwise satisfies itself that such transaction is exempt from registration.

 

    Exhibit
                                                                                      A-1

     

    

 

I consent to the placing
of a legend on my certificate for the Shares stating that the Shares have not been registered and setting forth the restriction
on transfer contemplated hereby and to the placing of a stop transfer order on the books of the Company and with any transfer agents
against the Shares until the Shares may be legally resold or distributed without restriction.

 

I understand that at
the present time Rule 144 of the Securities and Exchange Commission (the “SEC”) may not be relied on for the resale
or distribution of the Shares by me. I understand that the Company has no obligation to me to register the sale of the Shares with
the SEC and has not represented to me that it will register the sale of the Shares.

 

I understand the terms
and restrictions on the right to dispose of the Shares set forth in the 2012 Employee, Director and Consultant Equity Incentive
Plan and the Stock Option Agreement, both of which I have carefully reviewed. I consent to the placing of a legend on my certificate
for the Shares referring to such restriction and the placing of stop transfer orders until the Shares may be transferred in accordance
with the terms of such restrictions.

 

I have considered the
Federal, state and local income tax implications of the exercise of my Option and the purchase and subsequent sale of the Shares.

 

I am paying the option exercise price for
the Shares as follows:

 

 

 

Please issue the Shares (check one):

 

  ̈
to me; or

 

  ̈
to me and ________________, as joint tenants with right of survivorship

 

and mail the certificate to me at the following address:

 

	 	 	 
	 	 	 
	 	 	 

 

    Exhibit
                                                                                      A-2

     

    

 

       My
mailing address for shareholder communications, if different from the address listed above is:

 

	 	 	 
	 	 	 
	 	 	 

 

	 	Very truly yours,
	 	 
	 	 
	 	Participant (signature)
	 	 
	 	 
	 	Print Name
	 	 
	 	 
	 	Date

 

    Exhibit
                                                                                      A-3

     

    

 

Exhibit B

 

 

NOTICE OF EXERCISE OF STOCK OPTION

 

[Form for Shares Registered in
the United States]

 

To:Butterfly Network, Inc.

 

IMPORTANT NOTICE: This form of Notice of Exercise may only be
used at such time as the Company has filed a Registration Statement with the Securities and Exchange Commission under which the
issuance of the Shares for which this exercise is being made is registered and such Registration Statement remains effective.

 

Ladies and Gentlemen:

 

I hereby exercise my
Stock Option to purchase _________ shares (the “Shares”) of the common stock, $0.0001 par value, of Butterfly Network,
Inc. (the “Company”), at the exercise price of $________ per share, pursuant to and subject to the terms of that Stock
Option Grant Notice dated _______________, 202_.

 

I understand the nature
of the investment I am making and the financial risks thereof. I am aware that it is my responsibility to have consulted with competent
tax and legal advisors about the relevant national, state and local income tax and securities laws affecting the exercise of the
Option and the purchase and subsequent sale of the Shares.

 

I am paying the option
exercise price for the Shares as follows:

 

 

 

Please issue the Shares (check one):

 

  ̈
to me; or

 

  ̈
to me and ____________________________, as joint tenants with right of survivorship,

 

at the following address:

 

	 	 	 
	 	 	 
	 	 	 

 

    Exhibit B-1

     

    

 

My mailing address
for shareholder communications, if different from the address listed above, is:

 

	 	 	 
	 	 	 
	 	 	 

 

	 	Very truly yours,
	 	 
	 	 
	 	Participant (signature)
	 	 
	 	 
	 	Print Name
	 	 
	 	 
	

                                  
	Date

 

    Exhibit B-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}]]