Document:

EX-4.3

 Exhibit 4.3 
  

 
 Restricted Stock Units Plan for Directors 

Under this Plan, AB InBev may grant Restricted Stock Units to the members of its Board of Directors, including its independent directors, as part of the
fixed remuneration for the exercise of their duties as members of the Board of Directors. 
  

	1	 Definitions 

When used in this document, the following terms shall have the meaning ascribed to them as indicated below, unless expressly indicated
otherwise: 
  

			
	AB InBev	  	 Anheuser-Busch InBev NV/SA with its registered office at Grand Place 1, B-1000 Brussels,
Belgium;

		
	Acknowledgment Form	  	 the form in which the director confirms, among other things, receipt of the Grant from AB InBev and the Restricted Stock
Units;

		
	Acknowledgment Period        	  	 the period during which a Participant must return the completed Acknowledgment Form to AB InBev, as indicated in the Grant
Letter;

		
	Board of Directors	  	 the board of directors of AB InBev;

		
	Code of Dealing	  	 the code of dealing of AB InBev, as amended from time to time;

		
	Data Controller	  	 AB InBev;

		
	Data Processor	  	 any third party designated by the Data Controller to process Personal Data on behalf of the Data Controller in accordance with Clause
13 for the implementation, administration and management of the Plan and the Share register and RSU register in electronic form;

		
	GDPR	  	 Regulation 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with
regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation);

		
	Grant	  	 the grant of Restricted Stock Units by AB InBev to the Participant as set out in the Grant Letter;

		
	Grant Date	  	 has the meaning given to it in the Grant Letter;

		
	Grant Letter	  	 the letter whereby AB InBev communicates the details of the Grant of Restricted Stock Units made to a Participant under the
Plan, together with the Acknowledgment Form;

  
  

A38004406/1.7/20 Mar 2019 
 1 

 
			
		
	Participant	  	 a member of the Board of Directors of AB InBev who received a Grant Letter, or any Successor to whom Restricted Stock Units have
been transferred in accordance with these terms and conditions;

		
	Personal Data	  	 each item of information relating to an identified or identifiable Participant defined as personal data pursuant to the
GDPR;

		
	Plan	  	 this Restricted Stock Units Plan for Directors;

		
	 RSU or Restricted
 Stock Unit
	  	 the right to receive from AB InBev one existing Share in accordance with these terms and conditions;

		
	RSU Website	  	 the website or online tool referred to in the Grant Letter (and any successor website or tool thereof) through which a Participant
can monitor his/her portfolio of Restricted Stock Units;

		
	Share	  	 an ordinary share of AB InBev (ISIN: BE0974293251);

		
	Successor	  	 the successor of a Participant as determined under the applicable law of succession and/or the persons designated by a Participant,
in accordance with the applicable law of succession, to inherit the rights of the Participant under the Plan after the death of the Participant;

		
	Vesting Date	  	 has the meaning given to it in the Grant Letter;

		
	Vesting Period	  	 the period running from the Grant Date to the Vesting Date (inclusive).

  

	2	 Plan documentation 

The Plan sets out the rules applicable to the Restricted Stock Units that are granted to the Participant by AB InBev. By returning
their completed Acknowledgment Form, Participants acknowledge having received the Restricted Stock Units and a copy of the Plan. 
  

	3	 Nature and characteristics of the Restricted Stock Units 

 

	3.1	 Vesting 

The Restricted Stock Units are subject to a Vesting Period, as specified in the Grant Letter, and to the service rules of Clause 6. The
vesting of the Restricted Stock Units is not subject to any performance criteria. 
 On or shortly after the Vesting Date,
AB InBev will deliver one Share per Restricted Stock Unit held by the Participant, subject to these terms and conditions. Restricted Stock Units do not confer any shareholder’s rights. 

 

	3.2	 Dividend protection 

Restricted Stock Units entitle their holder to a dividend equivalent during the Vesting Period, which represents an amount equal to the
gross dividend paid by AB InBev on the Shares underlying the Restricted Stock Units. This dividend equivalent will be granted to the Participants shortly after the payment of the dividend, in the form of additional Restricted Stock Units with
the same vesting conditions and governed by the same terms and conditions as the original Restricted Stock Units. 

  
  

2 

 The number of additional Restricted Stock Units to which a Participant is entitled
upon payment of a dividend on the Shares underlying the Restricted Stock Units will be calculated by AB InBev. The number will be equal to the amount of the gross dividend divided by the closing share price on Euronext Brussels of the Share on
the dividend payment date and multiplied by the number of Restricted Stock Units that the Participants holds. The result of this calculation will be rounded down to the closest unit. 

 

	3.3	 Transferability 

Except for transfers as a result of death (see Clause 6.2 below), Restricted Stock Units may not be transferred or encumbered with any
security, pledge or other right, or otherwise pass to any third party. 
  

	4	 Nature and characteristics of the underlying Shares 

 

	4.1	 General 

The Shares to be delivered to the holders of Restricted Stock Units upon vesting of the Restricted Stock Units are existing ordinary
Shares of AB InBev with all rights and benefits generally attached to such Shares. AB InBev will, at its discretion, deliver Shares in dematerialised (electronic or book-entry) form or in registered form. 

 

	4.2	 Dividends 

The Shares delivered upon vesting of the Restricted Stock Units give the right to the dividends paid on such Shares decided by
AB InBev after the Vesting Date. 
  

	4.3	 Transferability 

Unless agreed otherwise between the Participant and AB InBev, the Shares delivered upon vesting of the Restricted Stock Units are not
subject to any transfer restrictions under the rules of the Plan. 
  

	5	 Expenses and taxes 

All costs related to the attribution of the Restricted Stock Units, the attribution of the additional Restricted Stock Units referred to
in Clause 3.2 above and the delivery of the underlying Shares will be borne by AB InBev, except taxes on stock exchange transactions and income and social security taxes on the income received by the Participants in connection with the
delivery or the ownership of the Restricted Stock Units and with the delivery of the underlying Shares. AB InBev may withhold from any payment or delivery of Shares any income or social security taxes that are required to be withheld under any
applicable law, rule or regulation. 
  

	6	 Situation upon termination of mandate 

 

	6.1	 End of mandate of the director 

If a Participant is not re-appointed as director or if its mandate as director is terminated
without any breach of duty, all Restricted Stock Units held by the Participant on the date of the end of his/her mandate will remain in full force and effect and subject to these terms and conditions. 

However, in the event that the directorship is not renewed upon the expiry of its term due to a breach of duty by the Participant or is
terminated in the course of its term due to a breach of duty by the Participant, all Restricted Stock Units held by the Participant on the date of the end of his/her mandate will automatically expire and become null and void. 

  
  

3 

	6.2	 Death or termination of directorship following permanent disability 

In the case of death of the Participant or termination of directorship following permanent disability of the Participant, the Restricted
Stock Units held by such Participant will remain in full force and effect. 
 Such Restricted Stock Units will remain subject to these
terms and conditions, except that, irrespective of the Vesting Period, the Shares will be delivered to the relevant Participant’s Successors (if applicable) shortly after the Participant’s death or to the Participant shortly after the
termination of the Participant’s directorship following permanent disability. 
 The notion of “permanent disability” is
to be defined by reference to Belgian law. 
  

	7	 Amendment to the capital structure and anti-dilution measures 

AB InBev expressly reserves the right to proceed with corporate changes that have an impact on its capital, such as capital
increases, including by incorporation of reserves in the capital, capital decreases, issuance of convertible bonds, subscription rights or options, stock splits or reverse stock splits, combinations or reclassifications of the Shares, mergers and
(partial) demergers, as well as the right to amend the clauses in the articles of association governing the allocation of profits or liquidation boni. 

In the event that any such corporate change would have a materially unfavourable impact on the Restricted Stock Units, AB InBev will
determine which adjustment is necessary for the purpose of safeguarding the interests of the holders of Restricted Stock Units, subject to any required action by the Shareholders’ Meeting of AB InBev. The terms of such adjustment will be
communicated to the Participants in due time. 
  

	8	 Insider dealing rules 

The Participants shall comply at all times with the Code of Dealing, as well as applicable laws prohibiting insider dealing. 

 

	9	 Electronic register, electronic evidence and electronic delivery 

 

	9.1	 Electronic Share and RSU register 

The Restricted Stock Units and Shares resulting from the vesting of such Restricted Stock Units will be recorded in a register, which may
be in electronic form and the maintenance of which may be delegated by AB InBev to a third party. 
  

	9.2	 Electronic evidence 

Electronic approvals, instructions, orders, statements and communications between a Participant, AB InBev, AB InBev affiliates
and any third party to which powers have been sub-delegated by AB InBev for the administration of the Plan will have the same legal status as written approvals, instructions, orders, statements and
communications. The written recording or the written reproduction of electronic approvals, instructions, orders, statements and communications received by AB InBev, AB InBev affiliates and any third party to which powers have been sub-delegated by AB InBev for the administration of the Plan, will constitute conclusive evidence between the Participant, AB InBev, AB InBev affiliates and any third party to which powers have been sub-delegated by AB InBev for the administration of the Plan, unless evidence to the contrary is provided by the Participant. 

  
  

4 

	9.3	 Electronic delivery 

All subsequent information relating to the Restricted Stock Units will be communicated by electronic means, including e-mails to the Participants and postings on AB InBev’s website or intranet. Such information may include, amongst others, financial information concerning AB InBev. In order to access such
information, Participants will be required to access AB InBev’s e-mail system, website and/or intranet. By returning the Acknowledgment Form, Participants are deemed to acknowledge that they have
access to such information. Participants may obtain paper copies of any such information by submitting a request to receive paper copies to Guy Ernotte Dumont (guy.ernotte-dumont@ab-inbev.com). 

 

	10	 Matrimonial regime 

In the event that the matrimonial regimes of Participants confer ownership or other rights on their spouses with respect to the
Restricted Stock Units, those Participants undertake that their spouses shall appoint them as their sole representatives for all matters arising in relation to the Restricted Stock Units. 

 

	11	 Modification of the Plan 

AB InBev may unilaterally modify at any time the practical and/or accessory modalities of the Plan. It may also unilaterally modify the
Plan when such modifications are required to comply with any change in legislation. 
  

	12	 Nature of the Plan 

Notwithstanding any provisions to the contrary included in the terms and conditions, the Grant Letter, the Acknowledgment Form or any
other document relating to the Plan: 
  

	12.1	 the grant of Restricted Stock Units and/or the subsequent delivery of Shares to the Participant in the
framework of the Plan is unrelated to his/her pension rights or pension claims, if any, so that this grant cannot affect these pension rights and claims; and 

 

	12.2	 the grant of Restricted Stock Units cannot be considered as a right acquired for the future.

  

	13	 Privacy and processing of Personal Data 

To enable the proper set-up and management of the Plan and the RSU register, Personal Data about
each Participant will need to be collected and used. This Clause 13 sets out the obligations of AB InBev and the rights of Participants regarding any such collection and use, and provides the legally required information in this respect. 

 

	13.1	 Identity of the person responsible for your Personal Data 

AB InBev is the so-called “Data Controller”, which is responsible for the
collection and processing of Personal Data as is necessary for the setting-up and management of the Plan and the RSU register of AB InBev in electronic form. 

  
  

5 

	13.2	 Why and how Personal Data is collected and used 

The Personal Data will either be collected via the RSU Website or extracted from AB InBev’s SAP system (or
successor thereof)1. It will be used exclusively for the purposes of the administration of the Plan and the maintenance of the RSU register of AB InBev in electronic form. 

The Personal Data collected in the context of the Plan and the RSU Register will be stored for a period of five years. 

The Data Controller and any Data Processor will collect and process the Participants’ Personal Data in accordance with the GDPR and
this Clause 13. 
  

	13.3	 Nature of the Personal Data 

The following Personal Data relating to the Participants will be collected and used: 

 

	 	(i)	 their contact details (e.g. names*, private/professional* (email) addresses/phone numbers); 

 

	 	(ii)	 electronic identification data; 

 

	 	(iii)	 personal characteristics (i.e. date of birth*); 

 

	 	(iv)	 financial data (e.g. details regarding bank account); and 

 

	 	(v)	 details of all rights and other entitlement to Restricted Stock Units awarded, cancelled, vested, unvested or
outstanding. 

  

	13.4	 Other persons having access to the Personal Data and purpose thereof 

The Data Controller can transfer the Personal Data to the following categories of recipients: 

 

	 	(i)	 the provider of the RSU Website acting as Data Processor; 

 

	 	(ii)	 payroll operators acting as Data Processors; 

 

	 	(iii)	 regulatory authorities for the purposes of complying with legal obligations in connection with the Plan; and

  

	 	(iv)	 any member of the AB InBev group for the administration and management of the Plan. 

Such recipients may be located in jurisdictions outside the European Economic Area (“EEA”) that may not provide an
adequate level of personal data protection. The Data Controller relies upon a contractual arrangement with the data importer to transfer the data to such jurisdictions. 
  

	13.5	 Legal basis allowing AB InBev to collect and use Personal Data 

Without prejudice to Clause 12, the processing of Personal Data of the Participants by the Data Controller in the context of this Plan is
necessary for the performance of the contractual arrangements between the Participants and the Data Controller referred to in the introduction of this Plan (i.e. payment of a remuneration for the duties performed by the Participants as members of
the Board of Directors). Failure by the Participant to provide the necessary Personal Data will result in the impossibility for AB InBev to perform part of its contractual arrangements towards the Participants, i.e. payment of a part of the fixed
remuneration. 
  

	1 	 In this case, the Personal Data which are not directly collected from you are identified with an asterisk (*).

  
  

6 

 The Data Controller can also process Personal Data of the Participants to comply with
its legal obligations towards the regulatory authorities. 
  

	13.6	 Rights of the Participants 

The Participant can exercise his/her right to request access to and rectification or, in certain circumstances, erasure of his/her
Personal Data or restriction of processing concerning the Participant or to object to processing as well as the right to data portability by sending a written request to globalcompliance@ab-inbev.com. 

Finally, if Participants are not satisfied with how AB InBev processes their Personal Data, they may contact the AB InBev
Compliance Team through globalcompliance@ab-inbev.com. They also have the right to make a complaint to the Belgian Data Protection Authority. 

 

	14	 Severability 

If any provision in this document is held to be illegal, invalid or unenforceable, in whole or in part, under any applicable law, that
provision will be deemed not to form part of this document, and the legality, validity or enforceability of the remainder of this document will not be affected. 
  

	15	 Applicable law 

The Restricted Stock Units and these terms and conditions are governed by Belgian law. 

  
  

7Blueprint

 

 EXHIBIT 10.1

 

MOBILESMITH,
INC.

 

INCENTIVE
STOCK OPTION AGREEMENT

 

THIS INCENTIVE
STOCK OPTION AGREEMENT, made and entered into as of the 15th day
of  May, 2019, by and between MobileSmith, Inc., a Delaware
corporation (the “Company”), and _______ (the
“Participant”).

 

WHEREAS, the
committee appointed under the MobileSmith, Inc. Equity Compensation
Plan (the “Committee”) granted Participant an option to
purchase shares of the Company’s Common Stock, $0.001 par
value per share (the “Common Stock”), pursuant to the
MobileSmith, Inc. 2016 Equity Compensation Plan (the
“Plan”) (capitalized terms used herein shall have the
meanings set out in the Plan unless otherwise specified in this
Agreement); and

 

WHEREAS, this
Agreement evidences the grant of such option.

 

NOW, THEREFORE, in
consideration of the foregoing, of the mutual promises set forth
below and of other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto,
intending to be legally bound, agree as follows:

 

1. Grant of Option. The Committee
hereby grants Participant an option to purchase from the Company,
during the period specified in Section 2 of this Agreement, a total
of ___ shares of Stock, at
the purchase price of $1.60 per share (the “Purchase
Price”), in accordance with the terms and conditions stated
in this Agreement. The shares of Stock subject to the option
granted hereby are referred to below as the “Shares,”
and the option to purchase such Shares is referred to below as the
“Option”.

 

2. Vesting and Exercise of Option.
The Option shall vest and become exercisable in increments in
accordance with the schedule set forth below, provided that the
Option shall vest and become exercisable with respect to an
increment as specified only if Participant is employed with the
Company on the specified date for such increment:

 

1/20 of the number
of options granted at the end of every quarter starting the quarter
ending June 30, 2019.

 

The schedule set
forth above is cumulative, so that Shares as to which the Option
has become vested and exercisable on and after a date indicated by
the schedule may be purchased pursuant to exercise of the Option at
any subsequent date prior to termination of the Option. The Option
may be exercised at any time and from time to time to purchase up
to the number of Shares as to which it is then vested and
exercisable.

 

Notwithstanding the
foregoing, the Option shall vest and become exercisable, to the
extent not already vested and exercisable, upon a Change of Control
or a Corporate Reorganization, if the Company shall send
Participant prior written notice of the effectiveness of such event
and the last day on which Participant may exercise the Option.
Participant may, upon compliance with all of the terms of this
Agreement and the Plan, purchase any or all of the Shares with
respect to which the Option is vested and exercisable on or prior
to the last day specified in such notice, and, to the extent the
Option is not exercised, it shall terminate at 5:00 P.M., eastern
standard time, on the last day specified in such notice. The last
day specified in the notice shall not be less than twenty (20) days
after the date of the notice.

 

3. Termination of Option. The
Option shall remain exercisable as specified in Section 2 above
until the earliest to occur of the dates specified below, upon
which date the Option shall terminate:

 

(a) the date all of the
Shares are purchased pursuant to the terms of this
Agreement;

 

(b) in the event of
Participant’s death or disability prior to Termination of
Service of Participant, the Option shall remain exercisable until
one year following the Participant’s death or
disability;

 

(c) upon the expiration
of ninety (90) days following the Termination of Service of
Participant or thirty (30) days in the event such Termination is
Voluntary or for Cause

 

(d) at 5:00 P.M.,
eastern standard time, on the last date specified in the notice
described in Section 2 above, in the event of a Change of Control
or Corporate Reorganization, except to the extent that the Option
is assumed by the surviving entity or an affiliate thereof in
connection with such Change in Control or Corporate Reorganization;
or

 

(e) the ten-year
anniversary of the Grant Date at 5:00 P.M., eastern standard
time.

   
          

Upon its
termination, the Option shall have no further force or effect and
Participant shall have no further rights under the Option or to any
Shares which have not been purchased pursuant to prior exercise of
the Option.

 

 

1

 

 

4. Manner
of Exercise of Option.

 

(a) The Option may be
exercised only by (i) Participant’s completion, execution and
delivery to the Company of a notice of exercise and, if required by
the Company, an “investment letter” as supplied by the
Company confirming Participant’s representations and
warranties in Section 17 of this Agreement, including the
representation that Participant is acquiring the Shares for
investment only and not with a view to the resale or other
distribution thereof, and (ii) the payment to the Company, pursuant
to the terms of this Agreement, of an amount equal to the Purchase
Price multiplied by the number of Shares being purchased as
specified in Participant’s notice of exercise.
Participant’s notice of exercise shall be given in the manner
specified in Section 12 but any exercise of the Option shall be
effective only when the items required by the preceding sentence
are actually received by the Company. The notice of exercise and
the “investment letter” may be in the form set forth in
Exhibit A attached to this Agreement. Payment of the aggregate
Purchase Price for Shares Participant has elected to purchase shall
be made by cash or good check. Notwithstanding anything to the
contrary in this Agreement, the Option may be exercised only if
compliance with all applicable federal and state securities laws
can be effected.

 

(b) Subject to the
provisions of Section 4 of the Plan, upon any exercise of the
Option by Participant or as soon thereafter as is practicable, the
Company shall issue and deliver to Participant a certificate or
certificates evidencing such number of Shares as Participant has
then elected to purchase. Such certificate or certificates shall be
registered in the name of Participant and shall bear the legend
specified in Section 16 of this Agreement and any legend required
by any federal or state securities laws and by the state in which
the Company is incorporated.

 

5. Definitions;
Authority of Committee.

 

(a) A “Change in
Control” shall be deemed to have occurred if, after the class
of stock then subject to this Agreement becomes publicly traded,
(i) the direct or indirect beneficial ownership (within the meaning
of Section 13(d) of the Act and Regulation 13D thereunder) of fifty
percent (50%) or more of the class of securities then subject to
this Agreement is acquired or becomes held by any person or group
of persons (within the meaning of Section 13(d)(3) of the Act), but
excluding the Company and any employee benefit plan sponsored or
maintained by the Company, or (ii) assets or earning power
constituting more than fifty percent (50%) of the assets or earning
power of the Company and its subsidiaries (taken as a whole) is
sold, mortgaged, leased or otherwise transferred, in one or more
transactions not in the ordinary course of the Company’s
business, to any such person or group of persons; provided,
however, that a Change in Control shall not be deemed to have
occurred upon an investment by one or more venture capital funds,
Small Business Investment Companies (as defined in the Small
Business Investment Act of 1958, as amended) or similar financial
investors. For the purposes of this Agreement, the class of stock
then subject to this Agreement shall be deemed to be
“publicly traded” if such stock is listed or admitted
to unlisted trading privileges on a national securities exchange or
as to which sales or bid and offer quotations are reported in the
automated system operated by the National Association of Securities
Dealers, Inc.

 

(b) A “Corporate
Reorganization” means the happening of any one (1) of the
following events: (i) the dissolution or liquidation of the
Company; (ii) a capital reorganization, merger or consolidation
involving the Company, unless (A) the transaction involves only the
Company and one or more of the Company’s parent corporation
and wholly-owned (excluding interests held by employees, officers
and directors) subsidiaries; or (B) the shareholders who had the
power to elect a majority of the board of directors of the Company
immediately prior to the transaction have the power to elect a
majority of the board of directors of the surviving entity
immediately following the transaction; (iii) the sale of all or
substantially all of the assets of the Company to another
corporation, person or business entity; or (iv) an acquisition of
Company stock, unless the shareholders who had the power to elect a
majority of the board of directors of the Company immediately prior
to the acquisition have the power to elect a majority of the board
of directors of the Company immediately following the transaction;
provided, however, that a Corporate Reorganization shall not be
deemed to have occurred upon an investment by one or more venture
capital funds, Small Business Investment Companies (as defined in
the Small Business Investment Act of 1958, as amended) or similar
financial investors.

 

(c) “Termination
of Service” shall have the meaning defined in the
Plan.

 

(d) All determinations
made by the Committee with respect to the interpretation,
construction and application of any provision of this Agreement
shall be final, conclusive and binding on the parties.

 

6. Default Treatment.

 

(a) The Option shall be
construed so that it is in compliance with the requirements of
section 422 of the Internal Revenue Code of 1986, as amended (the
“Code”). If for any reason the Option does not meet the
requirements of section 422 of the Code and the regulations
thereunder, then the Option or any portion of the Option, as
necessary, shall be deemed a Nonqualified Stock Option granted
under the Plan.

 

(b) If the aggregate
Fair Market Value, determined on the date of grant, of the stock to
which this Option and any other incentive stock options are
exercisable for the first time by Participant during any calendar
year under the Plan or any other stock option plan of the Company
exceeds $100,000 (or such other amount as the Code may specify),
the Option shall be deemed a Nonqualified Stock Option granted
under the Plan to the extent of such excess.

 

7. Rights Prior to Exercise.
Participant will have no rights as a shareholder with respect to
the Shares except to the extent that Participant has exercised the
Option and has been issued and received delivery of a certificate
or certificates evidencing the Shares so purchased.

   
       
    

 

2

 

 

8. Sale or Other Disposition by Majority
Interest. Participant hereby irrevocably appoints the
Company and its President, or either of them, as
Participant’s agents and attorneys-in-fact, with full power
of substitution for and in Participant’s name, to sell,
exchange, transfer or otherwise dispose of all or a portion of
Participant’s Shares and to do any and all things and to
execute any and all documents and instruments (including, without
limitation, any stock transfer powers) in connection therewith,
such powers of attorney not to become operable until such time as
the holder or holders of a majority of the issued and outstanding
shares of Stock of the Company sell, exchange, transfer or
otherwise dispose of, or contract to sell, exchange, transfer or
otherwise dispose of, all or a majority of the issued and
outstanding shares of Stock of the Company. Any sale, exchange,
transfer or other disposition of all or a portion of
Participant’s Shares pursuant to the foregoing powers of
attorney shall be made upon substantially the same terms and
conditions (including sale price per share) applicable to a sale,
exchange, transfer or other disposition of shares of Stock of the
Company owned by the holder or holders of a majority of the issued
and outstanding shares of Stock of the Company. For purposes of
mdetermining the sale price per share of the Shares under this
Section 8, there shall be excluded the consideration (if any) paid
or payable to the holder or holders of a majority of the issued and
outstanding shares of Common Stock of the Company in connection
with any employment, consulting, noncompetition or similar
agreements which such holder or holders may enter into in
connection with or subsequent to such sale, transfer, exchange or
other disposition. The foregoing power of attorney shall not impose
or be deemed to impose any fiduciary duty or any other duty (except
as set forth in this Section 8) or obligation on either the Company
or its President, shall be irrevocable and coupled with an interest
and shall not terminate by operation of law, whether by the death,
bankruptcy or adjudication of incompetence or insanity of
Participant or the occurrence of any other event.

 

9. Engagement of Participant.
Nothing in this Agreement shall be construed as constituting a
commitment, guarantee, agreement or understanding of any kind or
nature that the Company shall continue to employ Participant, nor
shall this Agreement affect in any way the right of the Company to
terminate the employment of Participant at any time and for any
reason. By Participant’s execution of this Agreement,
Participant acknowledges and agrees that Participant’s
employment is “at will.” No change of
Participant’s duties as an employee of the Company shall
result in, or be deemed to be, a modification of any of the terms
of this Agreement.

 

10. Burden and Benefit; Company.
This Agreement shall be binding upon, and shall inure to the
benefit of, the Company and Participant, and their respective
heirs, personal and legal representatives, successors and assigns.
As used in this Section 10, the term the “Company”
shall also include any corporation which is the parent or a
subsidiary of the Company or any corporation or entity which is an
affiliate of the Company by virtue of common (although not
identical) owner-ship, and for which Participant is providing
services in any form during Participant’s employment with the
Company or any such other corporation or entity. Participant hereby
consents to the enforcement of any and all of the provisions of
this Agreement by or for the benefit of the Company and any such
other corporation or entity.

 

11. Entire Agreement. This
Agreement and the Plan under which it is issued contain the entire
agreement between the parties with respect to the subject matter
hereof and supersedes all prior agreements or understandings, oral
or written, with respect to the subject matter herein. Participant
accepts the Option in full satisfaction of any and all obligations
of the Company to grant stock options to Participant as of the date
hereof.

 

12. Notices. Any and all notices
under this Agreement shall be in writing, and sent by hand delivery
or by certified or registered mail (return receipt requested and
first-class postage prepaid), in the case of the Company, to its
principal executive offices to the attention of the President, and,
in the case of Participant, to Participant’s address as shown
on the Company’s records.

 

13. Governing Law. This Agreement
shall be construed and enforced in accordance with the laws of the
state in which the Company is incorporated, without reference to
its conflicts of laws rules or the principles of the choice of
law.

 

14. Modifications. No change or
modification of this Agreement shall be valid unless the same is in
writing and signed by the parties hereto.

 

15. Terms and Conditions of Plan.
The terms and conditions included in the Plan, the receipt of a
copy of which Participant hereby acknowledges by execution of this
Agreement, are incorporated by reference herein, and to the extent
that any conflict may exist between any term or provision of this
Agreement and any term or provision of the Plan, such term or
provision of the Plan shall control.

 

 

3

 

 

17. Covenants and Representations and
Covenants of Participant.

   
          

Participant
represents, warrants, covenants and agrees with the Company as
follows:

 

(a) The Option is being
received for Participant’s own account without the
participation of any other person, with the intent of holding the
Option and the Shares issuable pursuant thereto for investment and
without the intent of participating, directly or indirectly, in a
distribution of the Shares and not with a view to, or for resale in
connection with, any distribution of the Shares or any portion
thereof.

 

(b) Participant is not
acquiring the Option or any Shares based upon any representation,
oral or written, by any person with respect to the future value of,
or income from, the Shares, but rather upon an independent
examination and judgment as to the prospects of the
Company.

 

(c) Participant has had
the opportunity to ask questions of and receive answers from the
Company and its executive officers and to obtain all information
necessary for Participant to make an informed decision with respect
to the investment in the Company represented by the Option and any
Shares issued upon its exercise.

 

(d) Participant is able
to bear the economic risk of any investment in the Shares,
including the risk of a complete loss of the investment, and
Participant acknowledges that Participant must continue to bear the
economic risk of any investment in Shares received upon exercise of
the Option for an indefinite period.

 

(e) Participant
understands and agrees that the Shares subject to the Option may be
issued and sold to Participant without registration under any state
or federal laws relating to the registration of securities and in
that event will be issued and sold in reliance on exemptions from
registration under appropriate state and federal laws.

 

(f) Shares issued to
Participant upon exercise of the Option will not be offered for
sale, sold or transferred by Participant other than pursuant to:
(i) an effective registration under applicable state securities
laws or in a transaction which is otherwise in compliance with
those laws; (ii) an effective registration under the Securities Act
of 1933, or a transaction otherwise in compliance with such Act;
and (iii) evidence satisfactory to the Company of compliance with
all applicable state and federal securities laws. The Company shall
be entitled to rely upon an opinion of counsel satisfactory to it
with respect to compliance with the foregoing laws.

 

(g) The Company will be
under no obligation to register the Shares issuable pursuant to the
Option or to comply with any exemption available for sale of the
Shares by Participant without registration, and the Company is
under no obligation to act in any manner so as to make Rule 144
promulgated under the Securities Act of 1933 available with respect
to any sale of the Shares by Participant.

 

(h) Participant has not
relied upon the Company with respect to any tax consequences
related to the grant or exercise of this Option, or the disposition
of Shares purchased pursuant to its exercise. Participant
acknowledges that, as a result of the grant and/or exercise of the
Option, Participant may incur a substantial tax liability.
Participant assumes full responsibility for all such consequences
and the filing of all tax returns and elections Participant may be
required or find desirable to file in connection therewith. In the
event any valuation of the Option or Shares purchased pursuant to
its exercise must be made under federal or state tax laws and such
valuation affects any return or election of the Company,
Participant agrees that the Company may determine such value and
that Participant will observe any determination so made by the
Company in all returns and elections filed by Participant. In the
event the Company is required by applicable law to collect any
withholding, payroll or similar taxes by reason of the grant or any
exercise of the Option, Participant agrees that the Company may
withhold such taxes from any monetary amounts otherwise payable by
the Company to Participant and that, if such amounts are
insufficient to cover the taxes required to be collected by the
Company, Participant will pay to the Company such additional
amounts as are required.

 

(i) The agreements,
representations, warranties and covenants made by Participant
herein with respect to the Option shall also extend to and apply to
all of the Shares issued to Participant from time to time pursuant
to exercise of the Option. Acceptance by Participant of any
certificate representing Shares shall constitute a confirmation by
Participant that all such agreements, representations, warranties
and covenants made herein shall be true and correct at that
time.

 

(j) In the event any
underwriter of securities of the Company requests Participant to
sign any agreement restricting resale of the Shares in connection
with any public offering by the Company, Participant agrees to sign
such agreement, provided the officers of the Company have signed an
agreement no less restrictive. The Company may instruct its
transfer agent not to transfer the Shares if requested by an
underwriter as described above.

 

(k) Participant hereby
agrees to comply with any plan, policy or other document of the
Company approved by the Board of Directors of the Company to ensure
compliance with securities laws, rules and regulations both during
the term of employment of Participant and for one (1) year
thereafter. The Company may impose stop-transfer restrictions with
respect to Shares acquired upon exercise of the Options to enforce
this provision.

 

(The remainder of
this page is intentionally left blank.)

 

 

4

 

 

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

 

MOBILESMITH,
INC.

 

By:_____________________________________

Print
Name:

 

PARTICIPANT:

 

By:_____________________________________

Print
Name:

 

 

 

 

 

 

 

 

 

5

 

 

EXHIBIT
A

 

Attention: Board of
Directors

MobileSmith,
Inc.

5400 Trinity Rd,
Suite 208

Raleigh, North
Carolina 27607

 

 

Re: Exercise of
Incentive Stock Option

Dear Member of the
Board:

Pursuant to the
terms and conditions of that certain Incentive Stock Option
Agreement dated as of _______________, 20_____ (the
“Agreement”) between _________________________ and
MobileSmith, Inc. (the “Company”), I desire to purchase
____________ Shares of the Stock of the Company and hereby tender
payment in full for such Shares in accordance with the terms of the
Agreement.

I hereby reaffirm
that the representations and warranties made in Section 17 of the
Agreement are true and correct on the date hereof as if made on the
date hereof.

Very truly
yours,

 

Print
Name:

 

Date:
__________________________

 

 

 

 

 

 

 

 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}]]