Document:

Exhibit
10.2

 

 

 

beyond
air, inc.

 

2021
EMPLOYEE STOCK PURCHASE PLAN

 

 

 

    	 	 	 

    	 

    

 

Beyond
air, inc.

2021
Employee Stock Purchase Plan

 

1.
Purpose and
Interpretation

 

(a)
The purpose of the Plan is to encourage and to
enable Eligible Employees of the Company and its Participating Affiliates, through after-tax payroll deductions, to acquire proprietary
interests in the Company through the purchase and ownership of shares of Stock. The Plan is intended to benefit the Company and
its stockholders by (a) incentivizing Participants to contribute to the success of the Company and to operate and manage the Company’s
business in a manner that will provide for the Company’s long-term growth and profitability and that will benefit its stockholders
and other important stakeholders and (b) encouraging Participants to remain in the employ of the Company or its Participating
Affiliates.

 

(b)
The Plan and the ESPP Options granted under the
Plan are intended to satisfy the requirements for an “employee stock purchase plan” under Code Section 423. Notwithstanding
the foregoing, the Company makes no undertaking to, nor representation that it will, maintain the qualified status of the Plan
or any ESPP Options granted under the Plan. In addition, ESPP Options that do not satisfy the requirements for an “employee
stock purchase plan” under Code Section 423 may be granted under the Plan pursuant to the rules, procedures, or sub-plans
adopted by the Administrator, in its sole discretion, for certain Eligible Employees.

 

2.
Definitions

 

(a)
“Account” shall mean a bookkeeping
account established and maintained to record the amount of funds accumulated pursuant to the Plan with respect to a Participant
for the purpose of purchasing shares of Stock under the Plan.

 

(b)
“Administrator” shall mean
the Board, the Compensation Committee of the Board, or any other committee of the Board designated by the Board to administer
the Plan.

 

(c)
“Board” shall mean the Board
of Directors of the Company.

 

(d)
“Change in Control” shall
have the meaning set forth in the Company’s 2013 Equity Incentive Plan, as amended and restated, or any successor omnibus
incentive plan.

 

(e)
“Code” shall mean the Internal
Revenue Code of 1986, as amended, as now in effect or as hereafter amended, and any successor thereto. References in the Plan
to any Code Section shall be deemed to include, as applicable, regulations and guidance promulgated under such Code Section.

 

(f)
“Company” shall mean Beyond
Air, Inc., a Delaware corporation, and any successor thereto.

 

(g)
“Custodian” shall mean the
third-party administrator designated by the Administrator from time to time.

 

(h)
“Effective Date” shall mean
March 4, 2021 the date of the Company’s 2021 annual meeting of stockholders, subject to approval of the Plan by the Company’s
stockholders on such date.

 

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(i)
“Eligible Compensation” shall
mean, unless otherwise established by the Administrator prior to the start of an Offering Period, regular base compensation paid
to a Participant by the Company or a Participating Affiliate as compensation for services to the Company or Participating Affiliate,
including such amounts of base compensation as are deferred by the Participant: (x) under a qualified cash or deferred arrangement
described in Section 401(k) of the Code; or (ii) to a plan qualified under Section 125 of the Code. Unless otherwise determined
by the Administrator prior to the start of an Offering Period, “Eligible Compensation” does not include overtime,
bonuses, annual awards, equity-based awards, other incentive payments, reimbursements or other expense allowances, fringe benefits
(cash or non-cash), moving expenses, deferred compensation, contributions (other than contributions described in the first sentence)
made on the Participant’s behalf by the Company or one or more Participating Affiliates under any employee benefit or welfare
plan now or hereafter established, and any other payments not specifically referenced in the first sentence.

 

(j)
“Eligible Employee” shall
mean a natural person who has been a full-time or part-time employee (including an officer) of the Company or a Participating
Affiliate for at least three (3) months as of an Offering Date, except the following, who shall not be eligible to participate
under the Plan: (i) an employee whose customary employment is twenty (20) hours or less per week, (ii) an employee whose customary
employment is for not more than five (5) months in any calendar year, (iii) an employee who, after exercising his or her rights
to purchase shares of Stock under the Plan, would own (directly or by attribution pursuant to Code Section 424(d)) shares of Stock
(including shares that may be acquired under any outstanding ESPP Options) representing five percent (5%) or more of the total
combined voting power of all classes of stock of the Company, (iv) an employee who is a citizen or resident of a foreign jurisdiction
(without regard to whether such employee is also a U.S. citizen or resident alien), if the grant of an ESPP Option under the Plan
or an Offering Period to such employee is prohibited under the laws of such foreign jurisdiction or compliance with the laws of
such foreign jurisdiction would cause the Plan or an Offering Period to violate the requirements of Code Section 423 and (v) any
other natural person whom the Administrator determines to exclude from an offering designed to satisfy the requirements of Code
Section 423, provided such exclusion is permitted by Code Section 423 and the guidance issued thereunder. The Administrator may,
at any time in its sole discretion, if it deems it advisable to do so, exclude the participation of the employees of a particular
Participating Affiliate from eligibility to participate in a future Offering Period. Notwithstanding the foregoing, for purposes
of a Non-423(b) Offering under the Plan, if any, the Administrator shall have the authority, in its sole discretion, to establish
a different definition of Eligible Employee as it may deem advisable or necessary.

 

(k)
“Enrollment Form” shall mean
the agreement(s) between the Company and an Eligible Employee, in such written, electronic, or other format and/or pursuant to
such written, electronic, or other process as may be established by the Administrator from time to time, pursuant to which an
Eligible Employee elects to participate in the Plan or to which a Participant elects to make changes with respect to the Participant’s
participation as permitted by the Plan.

 

(l)
“Enrollment Period” shall
mean that period of time prescribed by the Administrator, which period shall conclude prior to the Offering Date, during which
Eligible Employees may elect to participate in an Offering Period. The duration and timing of Enrollment Periods may be changed
or modified by the Administrator from time to time.

 

(m)
“ESPP Option” shall mean the
right granted to Participants to purchase shares of Stock pursuant to an offering under the Plan.

 

(n)
“Fair Market Value” shall
mean the value of each share of Stock subject to the Plan on a given date determined as follows: (i) if on such date the shares
of Stock are listed on an established national or regional stock exchange or are publicly traded on an established securities
market, the Fair Market Value of the shares of Stock shall be the closing price of the shares of Stock on such exchange or in
such market (the exchange or market selected by the Administrator if there is more than one such exchange or market) on such date
or, if such date is not a Trading Day, on the Trading Day immediately preceding such date, or, if no sale of the shares of Stock
is reported for such Trading Day, on the next preceding day on which any sale shall have been reported; or (ii) if the shares
of Stock are not listed on such an exchange or traded on such a market, the Fair Market Value of the shares of Stock shall be
determined by the Administrator in good faith.

 

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(o)
“Holding Period” shall have
the meaning set forth in Section 10(c)(i).

 

(p)
“Non-423(b) Offering” shall
mean the rules, procedures, or sub-plans, if any, adopted by the Administrator, in its sole discretion, as a part of the Plan,
pursuant to which ESPP Options that do not satisfy the requirements for “employee stock purchase plans” that are set
forth under Code Section 423 may be granted to Eligible Employees as a separate offering under the Plan.

 

(q)
“Offering Date” shall mean
the first day of any Offering Period under the Plan.

 

(r)
“Offering Period” shall mean
the period determined by the Administrator pursuant to Section 7, which period shall not exceed twenty-seven (27) months,
during which payroll deductions are accumulated for the purpose of purchasing Stock under the Plan.

 

(s)
“Outstanding Election” shall
mean a Participant’s then-current election to purchase shares of Stock in an Offering Period, or that part of such an election
which has not been cancelled (including any voluntary cancellation under Section 6(c) and deemed cancellation under Section
11) prior to the close of business on the last Trading Day of the Offering Period (or if an Offering Period has multiple Purchase
Periods, the last Trading Day of the Purchase Period) or such other date as determined by the Administrator.

 

(t)
“Participant” shall mean an
Eligible Employee who has elected to participate in the Plan pursuant to Section 5.

 

(u)
“Participating Affiliate”
shall mean any Subsidiary designated by the Administrator from time to time, in its sole discretion, whose employees may participate
in the Plan or in a specific Offering Period under the Plan, if such employees otherwise qualify as Eligible Employees.

 

(v)
“Plan” shall mean this Beyond
Air, Inc. 2021 Employee Stock Purchase Plan, as it may be amended from time to time.

 

(w)
“Purchase Period” shall mean
the period during an Offering Period designated by the Administrator on the last Trading Day of which purchases of Stock are made
under the Plan. An Offering Period may have one or more Purchase Periods.

 

(x)
“Purchase Price” shall mean
the purchase price at which shares of Stock may be purchased under the Plan, which shall be set by the Administrator from time
to time.

 

(y)
“Stock” shall mean the common
stock, $0.0001 par value per share, of the Company, or any security into which shares of Stock may be changed or for which shares
of Stock may be exchanged as provided in Section 12.

 

(z)
“Subsidiary” shall mean any
corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if each of the corporations
other than the last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined
voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of
a Subsidiary on a date after the Effective Date shall be considered a Subsidiary commencing as of such date.

 

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(aa)
“Termination of Employment”
shall mean, with respect to a Participant, a cessation of the employee-employer relationship between the Participant and the Company
or a Participating Affiliate for any reason,

 

(i)
including, without limitation, (A) a termination
by resignation, discharge, death, disability, retirement, or the disaffiliation of a Subsidiary, (B) unless otherwise determined
or provided by the Administrator, a transfer of employment to a Subsidiary that is not a Participating Affiliate as of the first
day immediately following the three (3)-month period following such transfer, and (C) a termination of employment where the individual
continues to provide certain services to the Company or a Subsidiary in a non-employee role, but

 

(ii)
excluding (A) such termination of employment
where there is a simultaneous reemployment of the Participant by the Company or a Participating Affiliate and (B) any bona fide
and Company-approved or Participating Affiliate-approved leave of absence, such as family leave, parental leave, medical leave,
personal leave, and military leave, or such other leave that meets the requirements of Treasury Regulations section 1.421-1(h)(2);
provided, however, where the period of leave exceeds three (3) months and the employee’s right to reemployment
is not guaranteed either by statute or by contract, the employee-employer relationship will be deemed to have terminated on the
first day immediately following such three (3)-month period.

 

(bb)
“Trading Day” shall mean a
day on which The Nasdaq Stock Market LLC is open for trading.

 

3.
Shares Subject
to the Plan

 

(a)
Share Reserve. Subject to adjustment as
provided in Section 12, the maximum number of shares of Stock that may be issued pursuant to ESPP Options granted under
the Plan (including any Non-423(b) Offering established hereunder) is seven hundred fifty thousand (750,000) shares. The shares
of Stock reserved for issuance under the Plan may be authorized but unissued shares, treasury shares, or shares purchased on the
open market.

 

(b)
Participation Adjustment as a Result of the
Share Reserve. If the Administrator determines that the total number of shares of Stock remaining available under the Plan
is insufficient to permit the number of shares of Stock to be purchased by all Participants on the last Trading Day of an Offering
Period (or if an Offering Period has multiple Purchase Periods, on the last Trading Day of the Purchase Period) pursuant to Section
9, the Administrator shall make a participation adjustment, where the number of shares of Stock purchasable by all Participants
shall be reduced proportionately in as uniform and equitable a manner as is reasonably practicable, as determined in the Administrator’s
sole discretion. After such adjustment, the Administrator shall refund in cash all affected Participants’ Account balances
for such Offering Period as soon as practicable thereafter.

 

(c)
Applicable Law Limitations on the Share Reserve.
If the Administrator determines that some or all of the shares of Stock to be purchased by Participants on the last Trading Day
of an Offering Period (or if an Offering Period has multiple Purchase Periods, the last Trading Day of the Purchase Period) would
not be issued in accordance with applicable laws or any approval by any regulatory body as may be required or the shares of Stock
would not be issued pursuant to an effective Form S-8 registration statement or that the issuance of some or all of such shares
of Stock pursuant to a Form S-8 registration statement is not advisable due to the risk that such issuance will violate applicable
laws, the Administrator may, without Participants’ consent, terminate any outstanding Offering Period and the ESPP Options
granted thereunder and refund in cash all affected Participants’ Account balances for such Offering Period as soon as practicable
thereafter.

 

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4.
Administration

 

(a)
Generally. The Plan shall be administered
under the direction of the Administrator. Subject to the express provisions of the Plan, the Administrator shall have full authority,
in its sole discretion, to take any actions it deems necessary or advisable for the administration of the Plan, including, without
limitation:

 

(i)
Interpreting and construing the Plan and ESPP
Options granted under the Plan; prescribing, adopting, amending, suspending, waiving, and rescinding rules and regulations as
it deems appropriate to administer and implement the Plan, including amending any outstanding ESPP Option, as it may deem advisable
or necessary to comply with applicable laws; correcting any defect or supplying any omission or reconciling any inconsistency
in the Plan or ESPP Options granted under the Plan; and making all other decisions and determinations necessary and advisable
in administering the Plan;

 

(ii)
Making determinations relating to eligibility;

 

(iii)
Determining the Purchase Price;

 

(iv)
Establishing the timing and length of Offering
Periods and Purchase Periods;

 

(v)
Establishing minimum and maximum contribution
rates;

 

(vi)
Establishing new or changing existing limits
on the number of shares of Stock a Participant may elect to purchase with respect to any Offering Period, if such limits are announced
prior to the first Offering Period to be affected;

 

(vii)
Delegating to one or more individuals such duties
and functions related to the operation and administration of the Plan as the Administrator so determines, except to the extent
prohibited by applicable law;

 

(viii)
Notwithstanding any provision of the Plan to
the contrary, in order to comply with the laws of any countries in which the Company and its Subsidiaries operate or have employees
or other individuals eligible for grants under the Plan, adopting such rules, procedures, or sub-plans as may be deemed advisable
or necessary to comply with the laws of countries other than the United States, to allow for tax-preferred treatment of the ESPP
Options or otherwise to provide for the participation by Eligible Employees who reside outside of the United States, including
determining which Eligible Employees are eligible to participate in the Non-423(b) Offering or other sub-plans established by
the Administrator and taking any such action as necessary or advisable to obtain approval or to comply with any local governmental
regulatory exemptions or approvals;

 

(ix)
Establishing the exchange ratio applicable to
amounts withheld in a currency other than U.S. dollars and permitting payroll withholding in excess of the amount designated by
a Participant in order to adjust for delays or mistakes in the processing of properly completed Enrollment Forms; and

 

(x)
Furnishing to the Custodian such information
as the Custodian may require.

 

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The
Administrator’s determinations under the Plan shall be final, binding, and conclusive upon all persons.

 

(b)
Custodian. If the Administrator designates
a Custodian for the Plan, the Custodian shall act as custodian under the Plan and shall perform such duties as requested by the
Administrator in accordance with any agreement between the Company and the Custodian. The Custodian shall establish and maintain,
as agent for each Participant, an Account and any subaccounts as may be necessary or desirable for the administration of the Plan.

 

(c)
No Liability. Neither the Board, the Compensation
Committee of the Board, any other committee of the Board, or the Custodian, nor any of their respective agents or designees, shall
be liable to any person (i) for any act, failure to act, or determination made in good faith with respect to the Plan or ESPP
Options granted under the Plan or (ii) for any tax (including any interest and penalties) by reason of the failure of the Plan,
an ESPP Option, or an Offering Period to satisfy the requirements of Code Section 423, the failure of the Participant to satisfy
the requirements of Code Section 423, or otherwise asserted with respect to the Plan, ESPP Options granted under the Plan, or
shares of Stock purchased or deemed purchased under the Plan.

 

5.
Participation
in the Plan and in an Offering Period

 

(a)
Generally. An Eligible Employee may become
a Participant for an Offering Period under the Plan by completing the prescribed Enrollment Form and submitting such Enrollment
Form to the Company (or the Company’s designee), in the format and pursuant to the process as prescribed by the Administrator,
during the Enrollment Period prior to the commencement of the Offering Period to which it relates. If properly completed and timely
submitted, the Enrollment Form will become effective for the first Offering Period following submission of the Enrollment Form
and all subsequent Offering Periods as provided by Section 5(b) until (i) it is terminated in accordance with Section
11, (ii) it is modified by filing another Enrollment Form in accordance with this Section 5(a) (including an election
is made to cease payroll deductions in accordance with Section 6(c)), or (iii) the Participant is otherwise ineligible
to participate in the Plan or in a subsequent Offering Period.

 

(b)
Automatic Re-Enrollment. Unless otherwise
established by the Administrator prior to the start of an Offering Period, following the end of each Offering Period, each Participant
shall automatically be re-enrolled in the next Offering Period at the applicable rate of payroll deductions in effect on the last
Trading Day of the prior Offering Period or otherwise as provided under Section 6, unless (i) the Participant has experienced
a Termination of Employment, or (ii) the Participant is otherwise ineligible to participate in the Plan or in the next Offering
Period. Notwithstanding the foregoing, the Administrator may require current Participants to complete and submit a new Enrollment
Form at any time it deems necessary or desirable to facilitate Plan administration or for any other reason.

 

6.
Payroll Deductions

 

(a)
Generally. Each Participant’s Enrollment
Form shall contain a payroll deduction authorization pursuant to which he or she shall elect, unless otherwise established by
the Administrator prior to the start of an Offering Period, to have a designated whole percentage of Eligible Compensation between
one percent (1%) and fifteen percent (15%) deducted, on an after-tax basis, on each payday during the Offering Period and credited
to the Participant’s Account for the purchase of shares of Stock pursuant to the offering. Notwithstanding the foregoing,
if local law prohibits payroll deductions, a Participant may elect to participate in an Offering Period through contributions
to his or her Account in a format and pursuant to a process acceptable to the Administrator. In such event, any such Participant
shall be deemed to participate in a separate offering under the Plan, unless the Administrator otherwise expressly provides.

 

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(b)
Insufficiency of Contributions. Subject
to Section 6(e), if in any payroll period a Participant has no pay or his or her pay is insufficient (after other authorized
deductions) to permit deduction of the full amount of his or her payroll deduction election, then (i) the payroll deduction election
for such payroll period shall be reduced to the amount of pay remaining, if any, after all other authorized deductions, and (ii)
the percentage or dollar amount of Eligible Compensation shall be deemed to have been reduced by the amount of the reduction in
the payroll deduction election for such payroll period. Deductions of the full amount originally elected by the Participant will
recommence as soon as his or her pay is sufficient to permit such payroll deductions; provided, however, no additional
amounts shall be deducted to satisfy the Outstanding Election.

 

(c)
Cessation after Offering Date. A Participant
may cease his or her payroll deductions during an Offering Period by properly completing and timely submitting a new Enrollment
Form to the Company (or the Company’s designee), in the format and pursuant to the process as prescribed by the Administrator,
at any time prior to the last day of such Offering Period (or if an Offering Period has multiple Purchase Periods, the last day
of such Purchase Period). Any such cessation in payroll deductions shall be effective as soon as administratively practicable
thereafter and shall remain in effect for successive Offering Periods as provided in Section 5(b) unless the Participant
submits a new Enrollment Form for a later Offering Period in accordance with Section 5(a). A Participant may only increase
or decrease his or her rate of payroll deductions in accordance with Section 6(d).

 

(d)
Modification Prior to Offering Date. A
Participant may increase or decrease his or her rate of payroll deductions, to take effect on the Offering Date of the Offering
Period following submission of the Enrollment Form, by properly completing and timely submitting a new Enrollment Form in accordance
with Section 5(a).

 

(e)
Authorized Leave or Disability after Offering
Date. Subject to Section 11, if a Participant is absent from work due to an authorized leave of absence or disability
(and has not experienced a Termination of Employment), such Participant shall have the right to elect (i) to remain a Participant
in the Plan for the then-current Offering Period (or if an Offering Period has multiple Purchase Periods, the then-current Purchase
Period) but to cease his or her payroll deductions in accordance with Section 6(c), or (ii) to remain a Participant in
the Plan for the then-current Offering Period (or if an Offering Period has multiple Purchase Periods, the then-current Purchase
Period) but to authorize payroll deductions to be made from payments made by the Company or a Participating Affiliate to the Participant
during such leave of absence or disability, and to undertake to make additional cash payments to the Plan at the end of each payroll
period during the Offering Period to the extent that the payroll deductions from payments made by the Company or a Participating
Affiliate to such Participant are insufficient to meet such Participant’s Outstanding Election. Neither the Company nor
a Participating Affiliate shall advance funds to a Participant if the Participant’s payroll deductions during the Participant’s
leave of absence or disability are insufficient to fund the Participant’s Account at his or her Outstanding Election.

 

(f)
Withdrawal. At any time during an Offering
Period, a Participant may terminate his or her payroll deductions under the Plan and withdraw from the Offering Period by submitting
to the Company, or a third party designated by the Administrator, a notice of withdrawal in such form as the Company requires.
Such withdrawal may be elected at any time, but must be received prior to the end of the Offering Period in accordance with the
withdrawal deadline and other procedures established by the Administrator. Upon withdrawal from the Offering Period by a Participant,
the Company shall distribute to such Participant all of his or her remaining accumulated payroll deductions under the Offering
Period, without interest, and such Participant’s interest in the Offering Period shall be automatically terminated. A Participant’s
withdrawal from an Offering Period will have no effect on his or her eligibility to participate in subsequent Offering Periods
that commence after the termination of the Offering Period from which the Participant withdraws, but the Participant will be required
to complete and submit a new Enrollment Form in order to participate in subsequent Offering Periods under the Plan. A Participant’s
withdrawal from an Offering Period shall not have any effect upon his or her eligibility to participate in any similar plan, which
may hereafter be adopted by the Company.

 

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7.
Offering Periods
and Purchase Periods; Purchase Price

 

(a)
The Administrator shall determine from time to
time, in its sole discretion, the Offering Periods and Purchase Periods under the Plan. Each Offering Period shall consist of
one or more Purchase Periods, as determined by the Administrator. Unless otherwise established by the Administrator prior to the
start of an Offering Period, the Plan shall have two (2) Offering Periods (with concurrent Purchase Periods) that commence each
calendar year, and each Offering Period shall be of approximately six (6) months’ duration, with the first such Offering
Period beginning on the first Trading Day of January and ending on the last Trading Day of the immediately following June, and
the second such Offering Period beginning on the first Trading Day of July and ending on the last Trading Day of the immediately
following December; provided, however, that the first Offering Period under the Plan shall commence on the first
Trading Day of July following the Effective Date and shall end on the last Trading Day of the immediately following December.

 

(b)
The Administrator shall determine from time to
time, in its sole discretion, the Purchase Price of each share of Stock for an Offering Period; provided, however, that
the Purchase Price shall not be less than the lesser of (i) eighty-five percent (85%) of the Fair Market Value of a share of Stock
on the first Trading Day of the Offering Period and (ii) eighty-five percent (85%) of the Fair Market Value of a share of Stock
on the last Trading Day of the Offering Period (or if an Offering Period has multiple Purchase Periods, on the last Trading Day
of the Purchase Period). Unless otherwise established by the Administrator prior to the start of an Offering Period, the Purchase
Price shall be equal to the lesser of (x) eighty-five percent (85%) of the Fair Market Value of a share of Stock on the first
Trading Day of the Offering Period and (y) eighty-five percent (85%) of the Fair Market Value of a share of Stock on the last
Trading Day of the Offering Period.

 

8.
Grant of ESPP
Option

 

(a)
Grant of ESPP Option. On each Offering
Date, each Participant in such Offering Period shall automatically be granted an ESPP Option to purchase as many whole shares
of Stock as the Participant will be able to purchase with the payroll deductions credited to the Participant’s Account during
the applicable Offering Period.

 

(b)
5% Owner Limit. Notwithstanding any provisions
of the Plan to the contrary, no Participant shall be granted an ESPP Option to purchase shares of Stock under the Plan if such
Participant (or any other person whose Stock would be attributed to such Participant pursuant to Code Section 424(d)), immediately
after such ESPP Option is granted, would own or hold ESPP Options to purchase shares of Stock possessing five percent (5%) or
more of the total combined voting power or value of all classes of stock of the Company or any of its Subsidiaries.

 

(c)
Other Limitation. The Administrator may
determine, as to any Offering Period, that the offering shall not be extended to “highly compensated employees” within
the meaning of Code Section 414(q).

 

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9.
Purchase of
Shares of Stock; Purchase Limitations

 

(a)
Purchase. Unless the Participant’s
participation in the Plan has otherwise been terminated as provided in Section 11, such Participant will be deemed to have
automatically exercised his or her ESPP Option to purchase Stock on the last Trading Day of the Offering Period (or if an Offering
Period has multiple Purchase Periods, the last Trading Day of the Purchase Period) for the maximum number of shares of Stock that
may be purchased at the Purchase Price with the Participant’s Account balance at that time; provided, however,
the number of shares of Stock purchased is subject to adjustment by Section 3, this Section 9, and Section 12.
The Administrator shall cause the amount credited to each Participant’s Account to be applied to such purchase, and the
amount applied to purchase shares of Stock pursuant to an ESPP Option shall be deducted from the applicable Participant’s
Account.

 

(b)
Limit on Number of Shares Purchased. Notwithstanding
Section 8(a) or Section 9(a), in no event may a Participant purchase more than ten thousand (10,000) shares of Stock
in any one Offering Period; provided, however, that the Administrator may, in its sole discretion, prior to the
start of an Offering Period, set a different limit on the number of shares of Stock a Participant may purchase during such Offering
Period.

 

(c)
Limit on Value of Shares Purchased. Notwithstanding
any provisions of the Plan to the contrary, excluding ESPP Options granted pursuant to any Non-423(b) Offering, no Participant
shall be granted an ESPP Option to purchase shares of Stock under the Plan which permits the Participant’s rights to purchase
shares under all “employee stock purchase plans” (described in Code Section 423) of the Company and its Subsidiaries
to accrue at a rate which exceeds twenty-five thousand dollars ($25,000) of the aggregate Fair Market Value of such shares of
Stock (determined at the time such ESPP Options are granted) for each calendar year in which such ESPP Options are outstanding
at any time.

 

(d)
No Fractional Shares. Notwithstanding
any provisions of the Plan to the contrary, no Participant may exercise an ESPP Option to purchase less than one whole share of
Stock, certificates representing fractional shares will not be delivered to Participants under any circumstances, and any ESPP
Option to purchase less than one whole share of Stock shall be automatically terminated on the last Trading Day of the Offering
Period (or if an Offering Period has multiple Purchase Periods, the last Trading Day of the Purchase Period). Unless the Participant’s
participation in the Plan has otherwise been terminated as provided in Section 11 or the Participant withdraws from the
Plan as provided in Section 6(f), the portion of a Participant’s Account balance remaining as a result of a Participant’s
inability to exercise an ESPP Option to purchase less than one whole share of Stock shall be accumulated and retained in the Participant’s
Account for the subsequent Purchase Period.

 

10.
Stock Issuance;
Stockholder Rights; and Sales of Plan Shares

 

(a)
Stock Issuance and Account Statements.
Shares of Stock purchased under the Plan will be held by the Custodian. The Custodian may hold the shares of Stock purchased under
the Plan by book entry or in the form of stock certificates in nominee names and may commingle shares held in its custody in a
single account without identification as to individual Participants. The Company shall cause the Custodian to deliver to each
Participant a statement for each Offering Period during which the Participant purchases Stock under the Plan, which statement
shall reflect, for each such Participant, (i) the amount of payroll deductions withheld during the Offering Period, (ii) the number
of shares of Stock purchased, (iii) the aggregate Purchase Price of the shares of Stock purchased, (iv) the Purchase Price per
share, (v) the brokerage fees and commissions paid (if any), and (vi) the total number of shares of Stock held by the Custodian
for the Participant as of the end of the Offering Period.

 

    	 	10	 

    	 

    

 

(b)
Stockholder Rights. A Participant shall
not be a stockholder or have any rights as a stockholder with respect to shares of Stock subject to the Participant’s ESPP
Options under the Plan until the shares of Stock are purchased pursuant to the ESPP Options and such shares of Stock are transferred
into the Participant’s name on the Company’s books and records. No adjustment will be made for dividends or other
rights for which the record date is prior to such time. Following purchase of shares of Stock under the Plan and transfer of such
shares of Stock into the Participant’s name on the Company’s books and records, a Participant shall become a stockholder
with respect to the shares of Stock purchased during such Offering Period (or, if applicable, Purchase Period) and, except as
otherwise provided in Section 10(c), shall thereupon have all dividend, voting, and other ownership rights incident thereto.

 

(c)
Sales of Plan Shares. The Administrator
shall have the right to require any or all of the following with respect to shares of Stock purchased under the Plan:

 

(i)
that a Participant may not request that all or
part of the shares of Stock be reissued in the Participant’s own name and shares be delivered to the Participant until two
(2) years (or such shorter period of time as the Administrator may designate) have elapsed since the Offering Date of the Offering
Period in which the shares were purchased and one (1) year has elapsed since the day the shares were purchased (the “Holding
Period”);

 

(ii)
that all sales of shares of Stock during the
Holding Period applicable to such purchased shares be performed through a licensed broker acceptable to the Company; and

 

(iii)
that Participants abstain from selling or otherwise
transferring shares of Stock purchased pursuant to the Plan for a period lasting up to two (2) years from the date the shares
of Stock were purchased pursuant to the Plan.

 

Any
Participant who sells or otherwise transfers shares of Stock purchased under the Plan within two (2) years after the beginning
of the Offering Period in which the shares were purchased or within one (1) year from the date the shares of Stock were purchased
must, within ten (10) days of such transfer, notify the Company in writing of such transfer.

 

11.
Deemed Cancellation
or Termination of Participation

 

(a)
Termination of Employment Other than Death.
In the event a Participant who holds outstanding ESPP Options to purchase shares of Stock under the Plan experiences a Termination
of Employment for any reason other than death prior to the last Trading Day of the Offering Period, the Participant’s outstanding
ESPP Options to purchase shares of Stock under the Plan shall automatically terminate, and the Administrator shall refund in cash
the Participant’s Account balance as soon as practicable thereafter.

 

(b)
Death. In the event of the death of a
Participant while the Participant holds outstanding ESPP Options to purchase shares of Stock under the Plan, the legal representatives
of such Participant’s estate (or, if the Administrator permits a beneficiary designation, the beneficiary or beneficiaries
most recently designated by the Participant prior to his or her death) may, within three (3) months after the Participant’s
death (but no later than the last Trading Day of the Offering Period (or if an Offering Period has multiple Purchase Periods,
the last Trading Day of the then-current Purchase Period)) by written notice to the Company (or the Company’s designee),
elect one of the following alternatives:

 

(i)
The Participant’s outstanding ESPP Options
shall be reduced to the number of shares of Stock that may be purchased, as of the last day of the Offering Period (or if an Offering
Period has multiple Purchase Periods, the last Trading Day of the then-current Purchase Period), with the amount then credited
to the Participant’s Account; or

 

    	 	11	 

    	 

    

 

(ii)
The Participant’s ESPP Options to purchase
shares of Stock under the Plan shall automatically terminate, and the Administrator shall refund in cash, to the Participant’s
legal representatives, the Participant’s Account balance as soon as practicable thereafter.

 

In
the event the Participant’s legal representatives (or, if applicable, beneficiary or beneficiaries) fail to deliver such
written notice to the Company (or the Company’s designee) within the prescribed period, the alternative in Section 11(b)(ii)
shall apply.

 

(c)
Other Termination of Participation. If
a Participant ceases to be eligible to participate in the Plan for any reason, the Administrator shall refund in cash the affected
Participant’s Account balance as soon as practicable thereafter. Once terminated, participation may not be reinstated for
the then-current Offering Period, but, if otherwise eligible, the Eligible Employee may elect to participate in a subsequent Offering
Period in accordance with Section 5.

 

12.
Changes in
Capitalization

 

(a)
Changes in Stock. If the number of outstanding
shares of Stock is increased or decreased or the shares of Stock are changed into or exchanged for a different number or kind
of shares or other securities of the Company by reason of any recapitalization, reclassification, stock split, reverse stock split,
spin-off, combination of shares, exchange of shares, stock dividend, or other distribution payable in capital stock, or other
increase or decrease in such shares effected without receipt of consideration by the Company occurring after the Effective Date,
the number and kinds of shares that may be purchased under the Plan (including, for the avoidance of doubt, the numerical limits
of Sections 3(a) and 9(b)) shall be adjusted proportionately and accordingly by the Administrator. In addition,
the number and kind of shares for which ESPP Options are outstanding shall be similarly adjusted so that the proportionate interest
of a Participant immediately following such event shall, to the extent practicable, be the same as immediately prior to such event.
Any such adjustment in outstanding ESPP Options shall not change the aggregate Purchase Price payable by a Participant with respect
to shares subject to such ESPP Options but shall include a corresponding proportionate adjustment in the Purchase Price per share.
Notwithstanding the foregoing, in the event of a spin-off that results in no change in the number of outstanding shares of Stock,
the Company may, in such manner as the Company deems appropriate, adjust (i) the number and kind of shares for which ESPP Options
are outstanding under the Plan and (ii) the Purchase Price per share.

 

(b)
Reorganization in Which the Company Is the
Surviving Corporation. Subject to Section 12(c), if the Company shall be the surviving corporation in any reorganization,
merger, or consolidation of the Company with one or more other corporations, all outstanding ESPP Options under the Plan shall
pertain to and apply to the securities to which a holder of the number of shares of Stock subject to such ESPP Options would have
been entitled immediately following such reorganization, merger, or consolidation, with a corresponding proportionate adjustment
of the Purchase Price per share so that the aggregate Purchase Price thereafter shall be the same as the aggregate Purchase Price
of the shares subject to such ESPP Options immediately prior to such reorganization, merger, or consolidation.

 

    	 	12	 

    	 

    

 

(c)
Reorganization in Which the Company Is Not
the Surviving Corporation; Change in Control. Upon any dissolution or liquidation of the Company, or upon a merger, consolidation,
or reorganization of the Company with one or more other corporations in which the Company is not the surviving corporation, or
upon a Change in Control, the Plan and all ESPP Options outstanding hereunder shall terminate, except to the extent provision
is made in writing in connection with such transaction for the continuation of the Plan and/or the assumption of the ESPP Options
theretofore granted, or for the substitution for such ESPP Option of new rights covering the stock of a successor corporation,
or a parent or subsidiary thereof, with appropriate adjustments as to the number and kinds of shares and purchase prices, in which
event the Plan and rights theretofore granted shall continue in the manner and under the terms so provided. In the event of any
such termination of the Plan, the Offering Period and the Purchase Period shall be deemed to have ended on the last Trading Day
prior to such termination, and in accordance with Section 9, the ESPP Options of each Participant then outstanding shall
be deemed to be automatically exercised on such last Trading Day. The Administrator shall send written notice of an event that
will result in such a termination to all Participants at least five (5) days prior to the date upon which the Plan will be terminated.

 

(d)
Adjustments. Adjustments under this Section
12 related to stock or securities of the Company shall be made by the Administrator, whose determination in that respect shall
be final, binding, and conclusive.

 

(e)
No Limitations on Company. The grant of
an ESPP Option pursuant to the Plan shall not affect or limit in any way the right or power of the Company to make adjustments,
reclassifications, reorganizations, or changes of its capital or business structure or to merge, consolidate, dissolve or liquidate,
or to sell or transfer all or any part of its business or assets.

 

13.
Term; Amendment,
Suspension, and Termination of the Plan

 

(a)
Term. The Plan shall be effective as of
the Effective Date. The Plan shall, without further action of the Board, terminate on the first to occur of (i) the day before
the tenth (10th) anniversary of the Effective Date, (ii) the date on which all shares of Stock reserved for issuance
under the Plan pursuant to Section 3 have been issued, (iii) the date determined in accordance with Section 12,
and (iv) the date determined in accordance with Section 13(b).

 

(b)
Amendment, Suspension, and Termination of
the Plan. The Administrator may, at any time and from time to time, amend, suspend, or terminate the Plan or an Offering Period
under the Plan; provided, however, that no amendment, suspension, or termination shall, without the consent of the
Participant, materially impair any rights of a Participant that have vested at the time of such amendment, suspension, or termination.
Without approval of the stockholders of the Company, no amendment shall be made (i) increasing the number of shares reserved for
issuance under the Plan pursuant to Section 3 (except as provided in Section 12) or (ii) changing the eligibility
requirements for participating in the Plan.

 

14.
General Provisions

 

(a)
Withholding of Taxes. To the extent that
a Participant recognizes ordinary income in connection with a sale or other transfer of any shares of Stock purchased under the
Plan, the Company may withhold amounts needed to cover such taxes from any payments otherwise due and owing to the Participant
or from shares that would otherwise be issued to the Participant under the Plan.

 

(b)
ESPP Options Not Transferable or Assignable.
A Participant’s ESPP Options under the Plan may not be sold, pledged, assigned, or transferred in any manner, whether voluntarily,
by operation of law, or otherwise. If a Participant sells, pledges, assigns, or transfers his or her ESPP Options in violation
of this Section 14(b), such ESPP Options shall immediately terminate, and the Participant shall immediately receive a refund
of the amount then credited to the Participant’s Account. Any payment of cash or issuance of shares of Stock under the Plan
may be made only to the Participant (or, in the event of the Participant’s death, to the Participant’s estate or,
if the Administrator permits a beneficiary designation, the beneficiary or beneficiaries most recently designated by the Participant
prior to his or her death). During a Participant’s lifetime, only such Participant may exercise his or her ESPP Options
under the Plan.

 

    	 	13	 

    	 

    

 

(c)
No Right to Continued Employment. Neither
the Plan nor any ESPP Option to purchase Stock under the Plan confers upon any Eligible Employee or Participant any right to continued
employment with the Company or any of its Subsidiaries, nor will a Participant’s participation in the Plan restrict or interfere
in any way with the right of the Company or any of its Subsidiaries to terminate the Participant’s employment at any time.

 

(d)
No Interest on Payments. No interest shall
be paid on sums withheld from a Participant’s pay or otherwise contributed for the purchase of shares of Stock under the
Plan unless otherwise determined necessary by the Administrator.

 

(e)
Governmental Regulation. The Company’s
obligation to issue, sell, and deliver shares of Stock pursuant to the Plan is subject to such approval of any governmental authority
and any national securities exchange or other market quotation system as may be required in connection with the authorization,
issuance, or sale of such shares.

 

(f)
Rule 16b-3. Transactions under this Plan
are intended to comply with all applicable conditions of Rule 16b-3 or any successor provision under the Securities Exchange Act
of 1934, as amended. If any provision of the Plan or action by the Administrator fails to so comply, it shall be deemed null and
void to the extent permitted by applicable law and deemed advisable by the Board. Moreover, in the event the Plan does not include
a provision required by Rule 16b-3 to be stated in the Plan, such provision (other than one relating to eligibility requirements
or the price and amount of awards) shall be deemed automatically to be incorporated by reference into the Plan.

 

(g)
Payment of Plan Expenses. The Company
shall bear all costs of administering and carrying out the Plan.

 

(h)
Application of Funds. All funds received
or held by the Company under the Plan may be used for any corporate purpose until applied to the purchase of Stock and/or refunded
to Participants. Participants’ Accounts need not be segregated.

 

(i)
Governing Law. The validity and construction
of the Plan and the ESPP Options granted hereunder shall be governed by, and construed and interpreted in accordance with, the
laws of the State of Delaware (other than any conflicts or choice of law rule or principle that might otherwise refer construction
or interpretation of the Plan and the ESPP Options granted under the Plan to the substantive laws of any other jurisdiction),
except to the extent superseded by applicable U.S. federal laws.

 

*         *           *

 

    	 	14	 

    	 

    

 

To
record adoption of the Plan by the Board as of January 9, 2021 and approval of the Plan by the Company’s stockholders as
of March 4, 2021, the Company has caused its authorized officer to execute the Plan.

 

	 	BEYOND
    AIR, INC.
	 	 	 
	 	By:
    	/s/
    Steven A. Lisi
	 	Name:	Steven
    A. Lisi
	 	Title:
    	Chief
    Executive Officer

 

Signature
Page to the

Beyond Air, Inc. 2021 Employee Stock Purchase Plan

 

    	 	15	 

    	 

    

 

Beyond
Air, Inc. 2021 Employee Stock Purchase Plan

Sub-Plan
for Participants in Ireland

 

	 	1.	Application.
    This Sub-Plan for Participants in Ireland (the “Sub-Plan”) sets forth additional terms and conditions applicable
    to rights granted to, and shares of Stock purchased by, Eligible Employees who are (or are deemed to be) residents of Ireland
    for purposes of the payment of taxes or who exercise all of their employment duties in Ireland, and forms and integral part
    of the Plan. The Company will, in its discretion, determine the extent to which the terms and conditions in this Sub-Plan
    apply to a Participant.

 

The
Plan and this Sub-Plan are complementary to each other and shall be deemed as one. In any case of contradiction with respect to
ESPP Options granted to Eligible Employees, whether explicit or implied, between the provisions of this Sub-Plan and the Plan,
the provisions set out in this Sub-Plan shall prevail.

 

	 	2.	No
    Obligation to Continue Employment Relationship. Neither the Company nor any Subsidiary is obligated by or as a result
    of the Plan or any Enrollment Form to continue the Participant’s employment with the Company or a Subsidiary, and neither
    the Plan nor any Enrollment Form shall interfere in any way with the right of the Company or any Subsidiary to terminate the
    Participant’s employment with the Company or a Subsidiary at any time. Nothing in the Plan or any Enrollment Form (including,
    but not limited to, the issuance of the shares of Stock in respect of the Participant’s ESPP Option) or any covenant
    of good faith and fair dealing that may be found implicit in the Plan or any Enrollment Form shall: (i) constitute any promise
    or commitment by the Company or a Subsidiary regarding the fact or nature of future positions, future work assignments, future
    compensation or any other term or condition of service or affiliation; (ii) confer any right or benefit under the Plan or
    any Enrollment Form unless such right or benefit has specifically accrued under the terms of the Plan or Enrollment Form.
    The grant of an ESPP Option to a Participant shall in no way affect the Company’s right to adjust, reclassify, reorganize
    or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all
    or any part of its business or assets. By participating in the Plan, a Participant waives all rights to compensation for any
    loss in relation to the Plan, including: any loss of profit; any loss or reduction of any rights or expectations under the
    Plan in any circumstances or for any reason (including lawful or unlawful termination of the Participant’s employment
    with the Company or a Subsidiary); any exercise of a discretion or a decision taken in relation to the Plan, or any failure
    to exercise a discretion or take a decision; or the operation, suspension, termination or amendment of the Plan.

 

	 	3.	Data
    Privacy Consent.

 

	 	a.	By
    accepting the grant of an ESPP Option, a Participant acknowledges that his or her Personal Data will be processed and disclosed
    as follows:

 

	 	i.	by
    the Company or any Subsidiary which has employed the Participant as they are required to collect, process and utilize certain
    Personal Data pertaining to the Participant for purposes directly relevant to the ESPP Option issued to the Participant, and
    to disclose or transfer such information to other Subsidiaries and, if necessary, a third party (including any broker, registrar
    or administrator) for the purpose of administering the Plan;

 

    	 	16	 

    	 

    

 

	 	ii.	by
    the Company or any Subsidiary which has employed the Participant and any such third party so that they may utilize such information
    for the purpose of administering the Plan, provided that such information shall be kept confidential and shall not be used
    by any of them for any purposes not related to the administration of the Plan;

 

	 	iii.	by
    the Company and any Subsidiary which has employed the Participant and any such third party (any of which may be located in
    the European Union (“EU”) or outside of the EU) so that they may transfer the Personal Data pertaining to the
    Participant in the EU or outside of the EU for the purpose of administering the Plan (in which case the transfer shall be
    governed by “model contract clauses” or equivalent measures required under EU data protection laws); and

 

	 	iv.	by
    and to any future purchaser of the Company or Subsidiary which has employed the Participant, or any future purchaser of their
    respective undertakings or any parts thereof, for the purpose of administering the Plan and/or confirming the Participant’s
    entitlement to an ESPP Option and/or any shares of Stock where such entitlement is relevant to such purchase.

 

	 	b.	Each
    Participant acknowledges that the purposes described in sub-paragraph (a) above are necessary for the performance of the Plan
    or are otherwise necessary for the legitimate interests of the Company or any Subsidiary which has employed the Participant
    in connection with the administration of the Plan. Should the Participant exercise any data subject rights in relation to
    his or her Personal Data, such as the right of objection or erasure, the Participant acknowledges that it may no longer be
    possible to administer the Plan in respect of the Participant. In that case the Participant’s ESPP Option may lapse
    and the Participant shall be deemed to have waived (without any right to compensation) any right to shares of Stock under
    the Plan.

 

	 	c.	Each
    Participant shall be provided with the information regarding the following by the Company or any Subsidiary which has employed
    the Participant to the extent that they are acting as controllers of the Participant’s Personal Data (save where the
    Participant already has the information):

 

	 	i.	the
    purpose of the collection and use of the Personal Data pertaining to the Participant;

 

	 	ii.	the
    information to be collected and used;

 

	 	iii.	the
    period and method of retention and use of the personal information or other relevant information pertaining to the Participant;

 

	 	iv.	details
    of any third parties to whom their information is disclosed or transferred including the purpose of such disclosure or transfer
    and, where applicable, the safeguards applied to any transfers of data outside of the EU;

 

	 	v.	the
    rights of the Participant in respect of access to, rectification and deletion of their information and any related disadvantages;

 

	 	vi.	where
    applicable, the contact details of the data protection officer of the relevant controller; and

 

	 	vii.	the
    right to complain to the relevant data protection supervisory authority.

 

In
this section, “Personal Data” has the same meaning as in the EU General Data Protection Regulation 2016/679 or any
equivalent legislation in any non-EU jurisdiction.

 

    	 	17Exhibit 10.3

 

SUBLEASE
AGREEMENT

 

THIS SUBLEASE AGREEMENT
(this “Sublease”) is made and entered into as of this ____ day of September 2020, by and between CliftonLarsonAllen
LLP, a Minnesota limited liability partnership (the “Sublessor”) and Intrusion, Inc., a _________ corporation (the
“Sublessee”).

 

RECITALS

 

WHEREAS, Sublessor
(successor in interest to M. White & Associates, LLC, as successor in interest to Rogers & White, LLC) as tenant, and JBA
Portfolio, LLC (successor in interest to Boxer F2, LP, as successor in interest to Parameter 101 E. Park Boulevard LP), as landlord
(“Landlord”), entered into that certain Lease Agreement dated April 16, 2008 (the “Original Lease”), and
amended by that First Amendment to Lease dated March 8, 2010 (the “First Amendment”), as amended by that Second Amendment
to Lease dated on or about October 18, 2013 (the “Second Amendment”), as amended by that Third Amendment to Office
Lease dated November 25, 2015 (the “Third Amendment”), as amended by that Fourth Amendment to Office Lease dated October
7, 2016 (the “Fourth Amendment”), as amended by that Fifth Amendment to Lease dated on or about October 19, 2018 (the
“Fifth Amendment”).

 

WHEREAS, the Original
Lease, First Amendment, Second Amendment, Third Amendment, Fourth Amendment, and Fifth Amendment may be collectively referred to
as the Lease. A copy of the Lease is attached hereto as Exhibit A and incorporated herein by this reference.

 

WHEREAS, the Lease
provides, among other things, that Landlord lease to Sublessor approximately 17,250 rentable square feet of space commonly known
as Suite 1200 (the “ 1200 Premises”) and 7,646 rentable square feet of space commonly known as Suite 1300 (the “Sublease
Premises”) in a building whose street address is 101 East Park Blvd., Plano, Texas 75074 (the “Building”).

 

WHEREAS, all defined
terms used herein and not otherwise defined herein, shall have the meanings ascribed to them in the Lease.

 

WHEREAS, subject to
the terms and conditions contained herein, Sublessor desires to sublease the Sublease Premises to Sublessee and Sublessee desires
to accept the sublease of the Sublease Premises from Sublessor.

 

AGREEMENTS

 

NOW THEREFORE, for
and in consideration of the above recitals (which are hereby incorporated into this Agreement) and the mutual covenants and agreements
contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Sublessor
and Sublessee agree as follows:

 

1.             
SUBLEASE PREMISES: USE

 

(a)            Sublessor
hereby subleases and demises to Sublessee, and Sublessee hereby agrees to sublease the Sublease Premises. Sublessee shall use the
Sublease Premises for general office use consistent with that of similar office buildings of similar quality in the East Plano/Richardson
Submarket.

 

(b)           Sublessee
shall comply at all times with all rules and regulations promulgated from time to time in connection with the Lease. Sublessee
shall comply, at Sublessee’s own expense, with all laws and regulations of any municipal, county, state, federal or public
authority respecting the use of the Sublease Premises. Sublessee shall not, without the prior consent of Sublessor and Landlord,
knowingly do or permit anything to be done which may result in a violation of the terms of this Sublease or the Lease or which
may make Sublessor or Landlord liable for any damages, claims, fines, penalties, costs or expenses.

 

 

 

    	 	1	 

     

    

 

(c)            Notwithstanding
anything to the contrary herein, Sublessee shall have no rights to use or access the 1200 Premises. Sublessee agrees, covenants,
and warrants that it will not take any action to disrupt Sublessor’s use of the 1200 Premises, and that it will not take
any action or omission that would be considered a nuisance to the 1200 Premises.

 

2.             
TERM

 

(a)            The
term of this Sublease (the “Term”) shall commence on the later to occur of (i) October 1, 2020 and (ii) the day after
the date Master Landlord consents to a fully executed copy of this Sublease (the “Commencement Date”) and shall terminate
on September 30, 2023 (the “Expiration Date”) unless sooner terminated pursuant to the terms of this Sublease.

 

(b)            If
the term of the Lease is terminated for any reason prior to the Expiration Date, this Sublease shall thereupon be terminated by
that event without any liability of Sublessor to Sublessee by reason of such early termination. Any liability of Sublessee to make
any payment under this Sublease, whether of Rent (as defined below) or otherwise, which shall have accrued prior to the Expiration
Date or sooner termination of this Sublease, shall survive the expiration or sooner termination of this Sublease.

 

(c)            In
the event that Sublessee remains in possession of the Sublease Premises after the Expiration Date, Sublessee shall be deemed to
be a monthly tenant only at the holdover percentage equal to the holdover rate provided in Section 22 of the Original Lease, payable
monthly in advance to Sublessor upon and subject to the same terms and conditions as described herein and in the Lease.

 

3.             
RENT

 

(a)            Sublessee
hereby agrees to pay to Sublessor rent as follows (the “Rent”):

 

	Time	Rent Per Rentable Square Foot	Annual Rent	Monthly Installment of Rent
	Commencement Date through Month 2 of the Term	$0.00/RSF 	$0.00	$0.00 
	Month 3 of the Term through Month 14	$11.00/RSF	$84,106.00	$7,008.83
	Month 15 of the Term through Month 26	$11.33/RSF	$86,629.18	$7,219.10
	Month 27 of the Term through Expiration Date	$11.67/RSF	$89,228.82	$7,435.74

 

(b)            Rent
shall be payable monthly in advance on the first day of each calendar month included in the Term by Sublessee to Sublessor at the
office of Sublessor set forth in Section 16(b) (or such other place as Sublessor may designate in writing), without prior notice
or demand therefor without any abatement, deduction or setoff. Rent for any partial month at the beginning or end of the Term shall
be prorated based upon the actual number of days of such month included in the Term, unless otherwise provided in this Sublease.
Notwithstanding the foregoing, the payment of Rent for the first month of the Term shall be due upon Sublessee’s execution
of this Sublease.

 

(c)            Sublessee
shall pay all Rent when due, in lawful money of the United States which shall be legal tender for the payment of all debts, public
and private, at the time of payment. All sums due and payable as Rent shall from and after the date which is ten (10) days after
the due date bear interest at 10%, but in no event in excess of the maximum rate, if any, allowed by law. All interest accrued
under this subsection as hereinabove provided shall be deemed to be additional rent payable hereunder and due at such time or times
as the Rent with respect to which such interest shall have accrued shall be payable under this Sublease.

 

 

 

    	 	2	 

     

    

 

(e)             Sublessee
shall pay $8,920.33 as security deposit, which shall be held by Sublessor as security for the full and punctual performance by
Sublessee of all of the terms of this Sublease. In the event Sublessee defaults in the performance of any of the terms of this
Sublease, Sublessor may apply the whole or any part of the security deposit to the extent required for the payment of (i) any Rent
or (ii) any sum which Sublessor may expend or may be required to expend by reason of Sublessee’s default, including without
limitation, any damages or deficiency in the reletting of the Sublease Premises. Upon each such application, Sublessee will, on
demand, pay to Sublessor the sum so applied, which shall be added to the security deposit so that the same shall be restored to
the amount first deposited with Sublessor. If Sublessee shall fully and punctually comply with all of the terms of this Sublease,
the amount of the security deposit, without interest, shall be returned to Sublessee within 30 days after the termination of this
Sublease, delivery of exclusive possession of the Sublease Premises to Sublessor and the payment to Sublessor of any Rent owed
hereunder.

 

(f)             Notwithstanding
the foregoing, in the event Sublessee requests any extra or additional services from Landlord or Sublessor, Sublesee shall be solely
responsible for the cost of any such extra or additional services.

 

4.             
UTILITIES

 

Sublessee
agrees that Sublessor shall not be held liable for: (a) any failure of water supply, electric current or any services by any utility;
 (b) injury to person
(including death) or damage to property resulting from steam, gas, electricity, water, rain or snow which may flow or leak from
any part of the Sublease Premises or from any pipes, appliances, plumbing works from the street or subsurface or from any other
place; and (c) temporary interference with lights or other easements, unless such failures, injuries or interferences are caused
by the intentional act or gross negligence of Sublessor. 

 

5.             
CONDITION OF SUBLEASE PREMISES

 

(a)           Sublessor
shall deliver the Sublease Premises to Sublessee in its current “as is” condition, and Sublessee expressly accepts
the Sublease Premises “as-is” and “where-is.” Sublessor hereby expressly disclaims any and all warranties
or representations made to Sublessee concerning the condition of the Sublease Premises, whether same were made by any officer,
director or employee of Sublessor or any other agent of same, such as a broker.

 

(b)           Sublessee
shall make no additions, alterations or improvements to the Sublease Premises, without the prior written approval of Landlord and
Sublessor in each instance. Permitted improvements and alterations shall be in compliance with the Lease, all applicable Building
codes and government regulations, and said improvements and alterations shall further be constructed in a good and workmanlike
manner as is customary in the construction industry.

 

(c)
           Sublessor shall provide Sublessee with use of all fixtures, furniture, and equipment
currently in the Sublease Premises which belong to Sublessor (the “FF&E”) during the Term at no additional cost
to Sublessee. Sublesee shall be solely responsible for maintaining the FF&E in good condition and proper working order during
the Term, reasonable wear and tear excepted. Provided that Sublessee has fully performed its obligations under this Sublease by
the Expiration Date, Sublessor shall transfer ownership of all FF&E to Sublessee on the Expiration Date for the price of $10.00.
 

 

(d)           Sublessee
shall maintain the Sublease Premises in good order and repair throughout the Term, and shall perform such maintenance and repair
to the Sublease Premises as is necessary to keep the Sublease Premises in such good order. Sublessee shall promptly repair any
damages caused by Sublessee, and its employees, contractors and invitees to the Sublease Premises, which is in excess of normal
wear and tear. In the event Sublessee fails to repair or restore any portion of the Sublease Premises, Sublessor may undertake
such restoration or repair at Sublessee’s sole expense.

 

(e)            Upon
the Expiration Date, Sublessee shall be responsible for timely vacating the Sublease Premises, cleaning the Sublease Premises to
broom clean condition, and removing all of Sublessee’s personal property (including without limitation, the FF&E) from
the Sublease Premises, provided however, in no event shall Sublessee remove any personal property and/or trade fixtures owned by
Landlord, Sublessor, or another third party. Sublesee shall be solely responsible for repairing any damage caused by or related
to Sublesee’s vacation of the Sublease Premises.

 

 

 

    	 	3	 

     

    

 

6.           
SIGNAGE AND PARKING

 

(a)           Any
signs in the Building and/or Sublease Premises shall be subject to the approval of the Landlord and shall be in compliance with
the requirements of the Lease. Sublessee shall apply for and obtain all permits required for the installation or maintenance of
any sign or window display. All approved signage shall be installed by Sublessee at Sublessee’s sole cost and expense.

 

(b)           Sublessee
shall sublease those parking spaces which Sublessor is entitled to use for the Sublease Premises pursuant to the Lease (i.e., 4
unreserved surface spaces per 1,000 rentable square feet of the Sublease Premises). Sublessee shall be responsible for all rent,
charges and fees for such parking spaces and shall pay such amounts to Landlord (or to Sublessor if Landlord will not accept direct
payment from Sublessee) before they are due.

 

7.           
LANDLORD’S SERVICES 

 

Sublessor shall use
reasonable efforts to ensure that Landlord provides services to the Sublease Premises as set forth in the Lease, but shall have
no obligation to request any additional services from Landlord on Sublessee’s behalf. Notwithstanding any such discontinuance
of any service to be provided by Landlord pursuant to the Lease, this Sublease shall otherwise remain in full force and effect
and such discontinuance shall not constitute an actual or constructive eviction, in whole or in part, or entitle Sublessee to any
abatement or diminution in the Rent.  

 

8.             
SUPERIORITY OF LEASE; SUBJECT TO LANDLORD CONSENT

 

(a)            This
Sublease is subject and subordinate to the Lease. Except as may be inconsistent with the terms and provisions hereof, the terms
and provisions of the Lease shall be applicable to this Sublease and shall be incorporated into this Sublease, as if Sublessor
was the landlord under the Lease and Sublessee was the tenant under the Master Lease. In the event of a conflict between the terms
of the Lease and this Sublease, the terms of the Lease shall govern. Sublessee shall in no case have any rights under this Sublease
greater than Sublessor’s rights as tenant under the Lease.

 

(b)            Sublessee
acknowledges that in the event of a (i) termination of the Lease, or (ii) re-entry or dispossess by Landlord, then Landlord may,
at its option, take over all of the right, title and interest of Sublessor hereunder and Sublessee agrees that it shall, at Landlord’s
option, attorn to Landlord, subject to the terms and conditions provided in Section 10(e) of the Original Lease.

 

(c)            Sublessee
shall observe and perform for the benefit of Landlord and Sublessor, each and every term, covenant, condition and agreement of
the Lease which Sublessor is required to observe or perform with respect to the Sublease Premises as tenant under the Lease. Except
as otherwise specifically provided in this Sublease, all of the terms, covenants, conditions and agreements which Landlord or Sublessor
are required to observe or perform with respect to the Sublease Premises as parties to the Lease are hereby incorporated herein
by reference and deemed to constitute terms, covenants, conditions and agreements which Sublessor and Sublessee are required to
observe or perform under this Sublease as if set forth herein at length, mutatis mutandis.

 

(d)            The
time limits contained in the Master Lease for the giving of notices, making of demands or performing any act, condition or covenant
on the part of the tenant thereunder, or for the exercise by the tenant thereunder of any right, remedy or option, are changed
for the purposes of incorporation herein by reference by shortening the same in each instance by one (1) day so that in, each instance
Sublessee shall have one (1) day less time to observe or perform hereunder than Sublessor has as the tenant under the Master Lease;
this provision shall not be applicable to any time limit contained in the Master Lease which is less than three (3) days.

 

(e)            Notwithstanding
all of the other terms and provisions of this Sublease, this Sublease is conditioned upon and shall not be effective until Landlord
approves this Sublease in writing.

 

 

 

    	 	4	 

     

    

 

9.             
MUTUAL INDEMNITY

 

(a)            Sublessee
agrees to indemnify, hold harmless and shall forever defend Sublessor from and against any and all damages, claims, costs, suits,
proceedings, losses and liabilities (to persons or property) which result or arise from or in connection with (i) the use, occupancy,
management, repair, maintenance or control of the Sublease Premises by Sublessee or Sublessee’s agents, employees, contractors,
licensees or invitees, (ii) Sublessee’s breach of this Sublease, or (iii) the misconduct or gross negligence of Sublessee.
Sublessee shall assume all of the reasonable costs associated with defending against any claims, suits, proceedings or actions
brought against Sublessor in respect of the foregoing, including without limitation, attorney’s fees and expenses.

 

(b)            Sublessor
agrees to indemnify, hold harmless and shall forever defend Sublessee from and against any and all damages, claims, costs, suits,
proceedings, losses and liabilities (to persons or property) which result or arise from or in connection with (i) Sublessor’s
breach of this Sublease, or (ii) Sublessor’s misconduct or gross negligence. Sublessor shall assume all of the reasonable
costs associated with defending against any claims, suits, proceedings or actions brought against Sublessee in respect of the foregoing,
including without limitation, attorneys’ fees and expenses.

 

10.           
INSURANCE; SUBROGATION

 

(a)            During
the Term, Sublessee shall maintain all insurance required of Sublessor as tenant under the Lease, and all liability policies and
property coverages shall name both Landlord and Sublessor as additional insureds thereunder. Sublessee shall provide Sublessor
copies of its certificates of insurance evidencing compliance with this section prior to Sublessee’s entry into the Sublease
Premises.

 

(b)           Anything
in this Sublease to the contrary notwithstanding, Sublessor and Sublessee each waives any and all rights of recovery, claim, action,
or cause-of-action, against the other, its agents (including without limitation, partners (both general and limited), officers,
directors, shareholders, customers, invitees, or employees), for any loss or damage that may occur to the Sublease Premises, or
any improvements thereto, or any improvements thereon, or any personal property of such party therein, by reason of fire, the elements
or any other cause which is actually insured against by Sublessor or Sublessee or which could be insured against under the coverage
of a special perils form or all-risk policy of property insurance, regardless of cause or origin, including without limitation,
negligence of the other party, its agents, partners, shareholders, officers, directors, partners, customers, invitees or employees.
Each party covenants that no insurer shall hold any right of subrogation against such other party with respect to any claim for
property damage.

 

11.          
ASSIGNMENT: SUBLETTING: ACCESS TO SUBLEASE PREMISES

 

(a)            Sublessee
shall not, by operation of law or otherwise, assign, sell, mortgage, pledge or in any manner transfer this Sublease or any interest
therein, or sublet the Sublease Premises or any part or parts thereof, or grant any concession or license or otherwise permit occupancy
of all or any part of the Sublease Premises by any person, without (i) the prior written consent of Sublessor, which consent shall
not be unreasonably withheld, conditioned, or delayed, (ii) the prior written consent of Landlord, and (iii) satisfying all the
terms and conditions for an assignment, transfer, or sublease as specified in the Lease. Notwithstanding Sublessor’s and
Landlord’s consent to any such assignment or subletting, Sublessee shall not be released from any of its obligations or liabilities
hereunder.

 

(b)           Except
for Sublessee’s employees and invitees, Sublessee shall not permit any person, except for Sublessee’s employees, guests,
invitees and clients, to enter into, use or occupy the Sublease Premises for any reason, without in each case the prior written
consent of Sublessor. Sublessee shall be solely responsible for the employees, clients, guests and invitees of Sublessee throughout
the Term.

 

 

 

    	 	5	 

     

    

 

12.            SUBLESSEEE
DEFAULT: REMEDIES

 

(a)            The
term “Default” as used herein shall mean: (i) any failure by Sublessee to pay or perform, as the case may be, any of
its obligations hereunder (including Sublessee’s failure to pay Rent when due hereunder); (ii) an assignment by Sublessee
for the benefit of its creditors or the appointment of a receiver for Sublessee’s asset or the filing by Sublessee of a voluntary
or involuntary petition in any bankruptcy or insolvency proceeding, or the adjudication of Sublessee as bankrupt under any applicable
bankruptcy or insolvency statute, or the general inability of Sublessee to pay its debts when due; (iii) any violation of Sublessee
of any of the other terms of this Sublease or the Lease: or (iv) any event or circumstance that would be a default under the Lease
if Sublessee was the tenant thereunder, with respect to the Sublease Premises.

 

(b)            In
the case of any Default, Sublessor, in its sole reasonable discretion, shall have and may exercise any one or more of the following
rights and remedies (in addition to all rights and remedies available to Sublessor at law and equity and under the Lease as if
Sublessor was the Landlord thereunder, but subject to Landlord’s rights, rules and regulations):

 

(i)             To
terminate the Sublease, at which time Sublessee shall immediately vacate the Sublease Premises, and pay all Rent due hereunder
for the remaining Term of the Sublease.

 

(ii)            To
enter and take possession of the Sublease Premises, and occupy, relet, and/or assign the same (provided that Sublessor shall have
no obligation to let or relet the Sublease Premises).

 

(iii)           Make
repairs as Sublessor deems appropriate (at the cost of Sublessee) and perform any and all acts in connection with the leasing,
management and operation of the Sublease Premises as Sublessor, in its sole discretion, may deem proper.

 

(iv)           To
the full extent permitted by any applicable statute or rule of law, to maintain any and all actions at law, suits in equity, or
any other appropriate proceeding, to seek the cure or remedy of such Default.

 

(c)           
The exercise by Sublessor of one or more of any or all of its remedies in the case of Default shall not in any manner release Sublessee
from its liability for Rent and its other obligations to Sublessor pursuant to this Sublease, but any amounts recovered by Sublessor
as a result of its exercise of one or more of any such remedies shall be applied toward Sublessee’s liability to Sublessor
after deducting any reasonable costs of recovery or collection.

 

(d)            The
receipt by Sublessor of any Rent with knowledge of the breach of any covenant of this Sublease by Sublessee shall not be deemed
a waiver of such breach or any subsequent breach of this Sublease by Sublessee. No provision of this Sublease shall be deemed to
have been waived by Sublessor unless such waiver be in writing signed by Sublessor.

 

13.           
DEFAULT BY SUBLESSOR

 

(a)           If
Sublessor should fail to observe, perform or comply with any term provision or condition of this Sublease to be performed by Sublessor,
and if such failure continues for 30 days following Sublessor’s receipt of notice thereof from Sublessee, Sublessor shall
be in default under this Sublease; provided however, that if such failure is of such a character as to require more than 30 days
to cure, Sublessor shall not be in default unless Sublessor does not commence such cure within 30 days and thereafter diligently
proceed curing such failure. Upon the occurrence of any uncured default by Sublessor, Sublessee shall have all rights, powers and
privileges as are had by Sublessor as tenant under the Lease and are otherwise available under law or equity.

 

(b)            Neither
Landlord nor Sublessor shall be liable in any manner for any damages, expenses, losses, costs or liabilities (to person or property)
resulting from, or relating to, a breach, default or the acts or omissions of other tenants or subtenants of the Building. Sublessee
hereby releases Landlord and Sublessor and its partners, shareholders, owners, employees, agents, and representatives from any
and all such liabilities.

 

(c)            Sublessee
understands and agrees that all of Sublessee’s property is kept in the Sublease Premises at Sublessee’s sole risk.

 

 

 

    	 	6	 

     

    

 

14.           
CASUALTY AND CONDEMNATION.

 

In the event of damage
to the Sublease Premises by fire or other casualty or if a condemnation occurs, Sublessor shall use reasonable efforts to encourage
Landlord to promptly restore the Sublease Premises and the Building in accordance with the Lease. If the Sublease Premises is damaged
by a fire or other casualty or if a condemnation occurs, and if Sublessor is entitled to abatement of Rent under the Lease, then
the Rent due hereunder shall also be abated proportionately.

 

15.            REPRESENTATIONS
AND WARRANTIES

 

(a)            Sublessor
represents and warrants that: (i) Sublessor is the tenant under the Lease and has the unrestricted right and authority to execute
this Sublease and to grant Sublessee the rights granted hereunder, and (ii) Sublessor is not the subject of any bankruptcy, insolvency
or probate proceeding.

 

(b)           Sublessee
represents and warrants that: (i) Sublessee has the unrestricted right and authority to execute this Sublease and to enter into
a lease for the Sublease Premises as described herein; (ii) Sublessee is not the subject of any bankruptcy, insolvency or
probate proceeding, (iii) Sublessee is not subject to any pending lawsuit, arbitration, or legal proceeding that would reasonably
be expected to affect Sublessee’s ability to perform its obligations under this Sublease, (iv) Sublessee satisfies the conditions
of a proposed transferee as provided in Section 10(b) of the Original Lease, and (v) Sublessee is currently in compliance with,
and shall at all times during the Term remain in compliance with, the regulations of the Office of Foreign Asset Control (“OFAC”)
of the Department of the Treasury (including those relating to persons named on OFAC's Specially Designated Nationals and Blocked
Persons List) and any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting
Transactions with Persons Who Commit, Threaten to Commit or Support Terrorism), or other governmental action relating thereto.

 

16.            MISCELLANEOUS

 

(a)           
Time is of the essence with respect to this Sublease.

 

(b)          
Any notice required or permitted to be given under this Sublease shall be deemed to have been sufficiently given if personally
delivered or mailed by registered or certified mail, postage prepaid, or overnight courier addressed to the party to be notified
at the following addresses:

 

	 	IF TO SUBLESSOR:	CliftonLarsonAllen
LLP
	 	 	Attn: Beth Peterson
	 	 	220 South Sixth Street, Suite 300
	 	 	Minneapolis, Minnesota 55402
	 	 	 
	 	 	With a copy to:
	 	 	Newmark Knight Frank
	 	 	Global Corporate Services
	 	 	5201 Tennyson Parkway, Suite 200
	 	 	Plano, Texas 75024
	 	 	 
	 	IF TO SUBLESSEE:	Intrusion,
Inc.
	 	 	_____________________________
	 	 	_____________________________

 

or at such other address
as may be furnished by notice pursuant to this paragraph.

 

 

 

    	 	7	 

     

    

 

(c)           
This Sublease shall be binding upon Sublessor and Sublessee and inure to the benefit of the successors and assigns of Sublessor.

 

(d)           
This Sublease shall be governed by the laws of the State of Texas. Sublessee consents to Landlord’s and/or Sublessor’s
choice of venue for any legal proceeding brought by Landlord, Sublessor or Sublessee to enforce the terms of this Sublease. All
rights and remedies of Sublessor under this Sublease shall be cumulative and none shall exclude any other rights or remedies allowed
by law. Each party hereto waives the right to a jury in any litigation arising under or with respect to this Sublease.

 

(e)           
The non-prevailing party shall pay to the prevailing party all costs and expenses, including, without limitation, court
costs and reasonable attorneys’ fees, incurred by the prevailing party (i) in enforcing any of the covenants and provisions
of this Sublease, or (ii) in any action brought by the non-prevailing party against the prevailing party, if the non-prevailing
party fails to obtain a final unappealable judgment against the prevailing party.

 

(f)            
Sublessor and Sublessee acknowledge that they are not partners or joint ventures (and that Sublessee is not an employee
of Sublessor). Sublessee agrees not to hold itself out as an employee or agent of Sublessor for any reason.

 

(g)           
This Sublease constitutes the full and complete understanding between the parties regarding the subject matter hereof and
all prior agreements, either oral or written, are hereby superseded. This Sublease may only be amended by an instrument in writing
signed by the parties hereto and approved by Landlord.

 

(h)          
At any time and from time to time within 10 days after a written request from Sublessor or Landlord, Sublessee shall execute,
acknowledge and deliver to the Sublessor or Landlord a written statement certifying (i) that this Sublease has not been modified
and is in full force and effect or, if there has been a modification of this Sublease, that this Sublease is in full force and
effect as modified, and stating such modifications, (ii) the dates to which the Rent hereunder have been paid, (iii) that to the
best of Sublessee’s knowledge, no defaults exist under this Sublease or, if any defaults do exist, specifying the nature
of each such default and (iv) as to such other matters pertaining to the terms of this Sublease as Sublessor or Landlord may reasonably
request.

 

(i)            
Sublessee shall, and may peacefully have, hold and enjoy the Sublease Premises, subject to the other terms hereof, so long
as a default by Sublessee under this Sublease has not occurred.

 

(j)           
Sublessor warrants and represents that it has not dealt with any real estate broker or agent in connection with this Sublease
or its negotiation except for Andrew Blaustein of Newmark Knight Frank (the “Sublessor Broker”). Sublessee warrants
and represents that it has not dealt with any real estate broker or agent in connection with this Sublease except for STREAM
REALTY PARTNERS – DFW, L.P. (the “Sublessee Broker”). Sublessor agrees to indemnify, defend and hold harmless,
Sublessee from and against any claims made by any broker or other person other than Sublessor Broker for a brokerage commission,
finder’s fee, or similar compensation, by reason of or in connection with this Sublease, and any loss, liability, damage,
cost and expense (including without limitation, reasonable attorneys’ fees). Sublessee agrees to indemnify, defend and hold
harmless, Sublessor from and against any claims made by any broker or other person other than Sublessee Broker for a brokerage
commission, finder’s fee, or similar compensation, by reason of or in connection with this Sublease, and any loss, liability,
damage, cost and expense (including without limitation, reasonable attorneys’ fees). Sublessor shall pay Sublessee Broker
a market commission pursuant to a separate agreement.

 

(k)           
This Sublease may be executed in counterparts, and all counterparts so executed shall constitute one Sublease, binding upon
both parties, notwithstanding that both parties are not signatories to the original or the same counterpart. This Sublease may
be executed and delivered by facsimile or electronic transmission, in one or more counterparts, and such transmission or counterpart
shall be deemed to have the same effect as an originally signed copy of this Sublease

 

 

[Signature Page to Follow]

 

 

 

 

    	 	8	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Sublease effective as of the day and year first above written.

 

 

SUBLESSOR:

 

CliftonLarsonAllen LLP,

a Minnesota Liability Limited Partnership

 

 

By: /s/ G. Scott Engelbrecht                                   

G. Scott Engelbrecht, Chief Operating Officer

 

SUBLESSEE:

 

Intrusion, Inc.,

a _________ corporation

 

By:____________________________

Name: _________________________

Title: __________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	9	 

     

    

 

 

 

 

 

The Sublease is hereby approved and consented
to by Landlord.

 

LANDLORD: JBA PORTFOLIO, LLC

 

 

By:______________________________

Name: ___________________________

Title: ____________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	10	 

     

    

 

 

 

 

 

 

 

 

 

EXHIBIT A

 

Lease 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	11

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