Document:

RESTATED

 

SECOND SIGHT MEDICAL PRODUCTS, INC.

 

2003 EQUITY INCENTIVE
PLAN

 

1.   
       PURPOSE. In 2003, the Board of Directors established and approved the Second
Sight Medical Products, Inc., a California corporation (the "Company") 2003 Equity Incentive Plan (the
“Plan”). The purposes of the Plan are to encourage the officers and employees of the Company to have a
proprietary and vested interest in the growth and performance of the Company, and to generate an increased incentive to
contribute to the Company's future success and prosperity, thus enhancing the value of the Company for the benefit of its
equity owners.

 

The Plan is hereby restated in its
entirety to read as follows:

 

2.     
     DEFINITIONS. As used in this Plan, the following terms shall have the meanings set forth
below:

 

a.           “Change
in Control” shall mean the occurrence of any of the following:

 

i.            The
acquisition, directly or indirectly, in one transaction or a series of related transactions, by any person or group (within the
meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) of the beneficial ownership of securities
of the Company possessing more than fifty percent (50%) of the total combined voting power of all outstanding securities of the
Company, provided, however, that a Change in Control shall not result upon such acquisition of beneficial ownership if such acquisition
occurs as a result of a public offering of the Company’s securities or any financing transaction or series of financing transactions;

 

ii.         The
consummation of a merger or consolidation in which the Company is not the surviving entity, except for a transaction in which the
holders of the outstanding voting securities of the Company immediately prior to such merger or consolidation hold as a result
of holding Company securities prior to such transaction, in the aggregate, securities possessing at least fifty percent (50%) of
the total combined voting power of all outstanding voting securities of the surviving entity immediately after such merger or consolidation;

 

iii.         A
reverse merger in which the Company is the surviving entity but in which the holders of the outstanding voting securities of the
Company immediately prior to such merger hold, in the aggregate, securities possessing less than fifty percent (50%) of the total
combined voting power of all outstanding voting securities of the Company or of the acquiring entity immediately after such merger;
or

 

iv.         The
sale, transfer or other disposition (in one transaction or a series of related transactions) of all or substantially all of the
assets of the Company, except for a transaction in which the holders of the outstanding voting securities of the Company immediately
prior to such transaction(s) receive as a distribution with respect to securities of the Company, in the aggregate, securities
possessing at least fifty percent (50%) of the total combined voting power of all outstanding voting securities of the acquiring
entity immediately after such transaction(s).

 

    	 

    	 

    

 

b.           "Committee"
shall mean the Directors.

 

c.           "Company"
shall mean Second Sight Medical Products, Inc, a California corporation.

 

d.           “Directors”
shall mean the board of directors of the Company as the same may be constituted from time to time.

 

e.           "Eligible
Person" shall mean any employee of the Company, any Employee of any other entity that is a controlled subsidiary of the Company,
and any manager or officer thereof. An entity shall be considered a controlled subsidiary of the Company if the Company owns more
than fifty percent (50%) of its outstanding equity securities and has more than a fifty percent (50%) voting interest.

 

f.            "Executive
Employees" shall mean the President, each head of a functional portion of the Company, including each Vice President of the
Company.

 

g.           "Fair
Market Value" shall mean the amount determined under Section 5.j., hereof.

 

h.           "Option"
shall mean any right granted to a Participant hereunder to acquire Shares of the Company.

 

i.            "Option
Agreement" shall mean a written agreement evidencing any Option granted by the Company hereunder and signed by both the Company
and the Participant.

 

j.            "Participant"
shall mean an Eligible Person who is selected by the Committee to receive an Option under the Plan.

 

k.          "Share"
shall mean a share of the common stock of the Company.

 

3.  
        ADMINISTRATION.

 

The Plan shall be administered by the Committee.
The Committee shall have full power and authority to do all things necessary or desirable in connection with the administration
of this Plan, including, without limitation, the following:

 

a.           select
those Eligible Persons to whom Options may from time to time be granted hereunder;

 

b.           determine
the option exercise price of each Option to be granted to a Participant hereunder;

 

c.           determine
the number of Shares of the Company to be covered by each Option granted hereunder;

 

    	 

    	 

    

 

d.           determine
the terms and conditions, not inconsistent with the provisions of the Plan, of any Option granted hereunder;

 

e.           interpret
and administer the Plan and any instrument or agreement entered into under the Plan;

 

f.            establish
such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and

 

g.           make
any other determination and take any other action that the Committee deems necessary or desirable for administration of the Plan.

 

All decisions and determinations of the Committee
shall be by majority vote of its members and shall be set forth in writing. Each such writing shall hereinafter be referred to
as a “Committee Action”. All such Committee Actions shall promptly be submitted to the Secretary of the Corporation
who, upon receipt, shall place a copy of same in a record book maintained by the Secretary for that purpose and which shall be
available for examination by the Directors at any time and from time to time. All Committee Actions that are within the scope of
the Committee’s authority hereunder shall be deemed final, conclusive and binding upon all persons including the Company,
any Participant, and any Eligible Person of the Company or of any Affiliate. A majority of the members of the Committee may determine
its actions and fix the time and place of its meetings.

 

4.     
     LIABILITY. No members of the Committee shall be liable for any action or determination
made in good faith with respect to the Plan or any Option granted under it. No member of the Committee shall be liable for
any act or omission of any other member of the Committee or for any act or omission on such member's part, including but not
limited to the exercise of any power or discretion given to such member under the Plan, except those resulting from such
member's willful misconduct.

 

5.       
   DURATION OF, AND SHARES SUBJECT TO, PLAN.

 

a.           TERM.
No Options shall be granted under this Plan after May 31, 2011, provided, however, that Options may be exercised in accordance
with their terms after May 31, 2011 with respect to Options granted prior to such date.

 

b.           SHARES
SUBJECT TO THE PLAN. Subject to paragraph a., above, the maximum number of Shares with respect to which Options may be granted
under the Plan, subject to adjustment as provided in Section 5 (c) of this Plan, is 3,500,000 Shares.

 

c.           SECTION
162(m) LIMITATION. Subject to paragraph a., above, no Employee of the Company or an affiliate of the Company shall be eligible
to be granted Options covering more than 1,000,000 Shares of Common Stock during any calendar year.

 

    	 

    	 

    

 

d.           ADJUSTMENTS.
In the event of any merger, reorganization, consolidation, recapitalization, Share split, reverse Share split, or similar transaction
or other change in legal structure affecting the Shares, such adjustments and other substitutions shall be made to the Plan and
to Options as the Committee in its sole discretion deems equitable or appropriate, including without limitation such adjustments
in (i) the aggregate number, class, and kind of shares which may be delivered under the Plan, in the aggregate or to any one Participant,
and (ii) the number, class, kind, and option or exercise price of Shares subject to outstanding Options granted under the Plan.

 

e.           ELIGIBILITY.
Any Eligible Person shall be eligible to be selected as a Participant, except that no member of the Committee shall participate
in his or her own selection as a Participant, or in the grant of any Option to him or her.

 

f.            GRANT
OF OPTIONS. Subject to subparagraph a., above, from time to time the Committee may grant Options to Participants based on such
criteria as may be established from time to time by the Committee. The Options shall be evidenced by an Option Agreement in such
form as the Committee may from time to time approve. Any such Option Agreement shall be subject to all of the terms and conditions
set forth herein and to such additional terms and conditions, not inconsistent with the provisions of this Plan, as the Committee
shall deem desirable and approve from time to time.

 

g.           OPTION
PRICE. The purchase price per Share purchasable pursuant to an Option Agreement shall be determined by the Committee in its
sole discretion; provided, however, that such purchase price shall not be less than the Fair Market Value of the Shares on the
date of the grant of the Option.

 

h.           OPTION
PERIOD. The term of each Option shall be fixed by the Committee in its sole discretion but shall in no event exceed ten (10)
years.

 

i.            EXERCISABILITY.
Options shall be exercisable at such time or times, and based upon such vesting and other conditions, as determined by the Committee
from time to time on a case by case basis. The Committee shall have the right at any time, and from time to time, to accelerate
the rate of vesting set forth in any issued and outstanding Option or Options.

 

j.            METHOD
OF EXERCISE. Subject to the other provisions of this Plan and the applicable Option Agreement, any Option may be exercised
by the Participant in whole or in part at such time or times, and the Participant may make payment of the Option price in such
form or forms, including, without limitation, payment by delivery of cash, a promissory note or other consideration acceptable
to the Committee having a Fair Market Value on the exercise date equal to the total Option price, or by any combination of cash
and other consideration, as the Committee may specify in the applicable Option Agreement.

 

k.          FAIR
MARKET VALUE. For all purposes of the Plan and any Option Agreement, the term "Fair Market Value" shall mean that
amount determined by the Committee from time to time. Such determination shall be based upon the most recent trades in any public
market or, if there is no public market for the Shares, then as determined by the Committee, based on such criteria as it deems
in its sole discretion to reflect the Fair Market Value, including reliance on a formal appraisal prepared by a qualified and experienced
independent third party appraiser.

 

    	 

    	 

    

 

l.            AMENDMENTS
AND TERMINATION. the Committee may amend, alter or discontinue this Plan, but no amendment, alteration, or discontinuation
shall be made that would impair the rights of a Participant under an Option theretofore granted, without the Participant's consent.
The Committee may, from time to time amend, modify, or alter the Plan where such amendment, modification or alteration is required
to assure that the Plan remains in compliance with the Act and the Code and any other then applicable federal or state securities
laws. The Committee may amend the terms of any Option Agreement theretofore executed, prospectively or retroactively, but no such
amendment shall impair the rights of any Participant without such Participant's written consent.

 

m.          COMPLIANCE
WITH SECURITIES LAWS. It is the intention of the Company that the Options and the Shares thereunder being offered and sold
be exempt from registration under the Securities Act of 1933 (the "Act") by satisfying the requirements of Rule 504,
506 and/or Rule 701, as promulgated under such Act, and be exempt from qualification under the California Corporations Code (the
"Code") by satisfying the requirements of Section 25102(o) of the Code including all rules and regulations promulgated
thereunder. Unless the Company shall register the Shares under the Act, qualify the Shares under the Code, or satisfy the requirements
for exemption from qualification and exemption under some other provision of the Code or Act, the aggregate exercise price of all
Options granted within any twelve (12) month period shall not exceed the greater of $1,000,000 or, alternatively, the amount of
Shares that may be purchased with Options granted within any twelve (12) month period shall not exceed fifteen percent (15%) of
the then issued and outstanding Shares of the Company.

 

6.      
    GENERAL PROVISIONS.

 

a.           Unless
the Committee determines otherwise at the time the Option is granted, no Option, and no Shares subject to Options which have not
been issued or as to which any applicable restriction, performance or deferral period has not lapsed, may be sold, assigned, transferred,
gifted, pledged, hypothecated, or otherwise encumbered, except by will or by the laws of descent and distribution or to a revocable
living trust of which the Option holder is a primary beneficiary; provided that, if so determined by the Committee, a Participant
may, in the manner established by the Committee, designate a beneficiary to exercise the rights of the Participant with respect
to any Option upon the death of the Participant. Each Option shall be exercisable during the Participant's lifetime only by the
Participant or, if permissible under applicable law, by the Participant's guardian or legal representative. Each Option shall provide
that to the extent the Option is exercisable upon the date of termination of employment, it shall continue to be exercisable following
the employment termination date for a period of at least six (6) months in the case of termination of employment on account of
death or disability, and at least thirty (30) days on account of termination of employment for any other reason.

 

b.           The
term of each Option shall be for such period of months or years from the date of its grant as may be determined by the Committee,
but in no event longer than as provided herein.

 

c.           No
Eligible Person shall have any claim to be granted any Option under the Plan and there shall be no requirement for uniformity of
treatment of Eligible Persons under the Plan.

 

    	 

    	 

    

 

d.           The
prospective recipient of any Option under this Plan shall not, with respect to such Option, be deemed to have become a Participant,
or to have any rights with respect to such Option, until and unless such recipient shall have executed an Option Agreement in such
form as the Committee has approved and delivered a fully executed copy thereof to the Company, and otherwise complied with the
then applicable terms and conditions.

 

e.           In
the case of any involuntary transfer of an Option including, but not limited to, transfers arising from bankruptcy, other insolvency
or creditor proceedings, and dissolution of marriage, all rights in and to the Option or portion of the Option so transferred shall,
as determined by the Committee on a case by case basis, immediately terminate, become null and void, and of no further force or
effect.

 

f.            Except
as otherwise required in any applicable Option Agreement or by the terms of this Plan, recipients of Options under the Plan shall
not be required to make any payment or provide consideration for the issuance of the Option other than the rendering of services.

 

g.           The
Company shall be authorized to withhold the amount of tax withholding required by law on account of or arising out of any exercise
of the Options and to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for the
payment of such taxes. Such withholding may take the form of the Participant tendering to the Company Shares with a value equal
to the withholding taxes then due (a "Tender Payment") or, alternatively, giving up Option rights which are then vested
and that have a value (based upon the difference between the then Fair Market Value and the Exercise Price of the Shares purchasable
under the Option) equal to the withholding taxes then due (an "Option Redemption Payment"). In the case of either a Tender
Payment or an Option Redemption Payment, the Company shall be responsible for making payment to the relevant governmental taxing
agencies of the cash amount of such withholding.

 

h.           The
validity, construction, and effect of this Plan and any rules and regulations relating to the Plan shall be determined in accordance
with the laws of the State of California and applicable Federal law.

 

i.            If
any provision of this Plan is or becomes or is deemed invalid, illegal or unenforceable in any jurisdiction to which it is subject,
would disqualify the Plan or any Option under any law deemed applicable by the Committee, or disqualify the Plan from exemption
under Rule 701 of the Act or California Corporations Code section 25102(o), such provision shall be construed or deemed amended
to conform to applicable laws or if it cannot be construed or deemed amended without, in the sole and absolute determination of
the Committee, materially altering the intent of the Plan, it shall be stricken and the remainder of the Plan shall remain in full
force and effect.

 

j.            Options
may be granted to Eligible Persons who are foreign nationals or employed outside the United States, or both, on such terms and
conditions different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable in order
to recognize differences in local law or tax policy. The Committee also may impose conditions on the exercise or vesting of Options
in order to minimize the Company's obligation with respect to tax equalization for Eligible Persons on assignments outside their
home country.

 

    	 

    	 

    

 

k.          Notwithstanding
anything in this Plan to the contrary, (a) any adjustments made pursuant to Article 5 to Options that are considered “deferred
compensation” within the meaning of Section 409A of the Code shall be made in compliance with the requirements of Section
409A of the Code; (b) any adjustments made pursuant to Article 5 to Options that are not considered “deferred compensation”
subject to Section 409A of the Code shall be made in such a manner as to ensure that after such adjustment the Options either (i)
continue not to be subject to Section 409A of the Code or (ii) comply with the requirements of Section 409A of the Code; and (c)
in any event, the Committee shall not have the authority to make any adjustments pursuant to Article 5 to the extent the existence
of such authority would cause an Option that is not intended to be subject to Section 409A of the Code at the time of grant to
be subject thereto.

 

7.    
      EFFECTIVE DATE OF RESTATED PLAN. The restatement of the Plan shall be effective on
June 1, 2011.

 

8.      
    ISSUANCE OF OPTIONS TO NON-EMPLOYEES. The Plan covers the grant of Options to employees of the
Company and other service providers of the Company only. Subject to subparagraph 5a., above, from time to time, the Company
may elect to grant Options to non-employees, including, but not limited to, vendors, suppliers, independent contractors, and
lenders, but in each such case only to natural persons, where, in the discretion of the Company, it is determined that such
grant is in the best interests of the Company. Any such Options that shall be granted to non-employees of the Company shall
be on such terms and conditions as mutually agreed upon between the Company and the grantee and shall not be covered by, or
subject to, the Plan except to the extent that such Option shall make specific reference to the Plan or any specific
provision herein.

 

9.       
   CHANGE IN CONTROL. In order to preserve a Participant’s rights with respect to any outstanding Option
in the event of a Change in Control of the Company:

 

a.           Vesting
of all outstanding Options shall accelerate automatically effective as of immediately prior to the consummation of the Change in
Control whether or not the Options are to be assumed by the acquiring or successor entity (or parent or subsidiary thereof) or
new options under a new stock incentive program (“New Incentives”) of comparable value are to be issued in exchange
therefore, as provided in subsection (b) below.

 

b.           If
vesting of outstanding Options will accelerate pursuant to subsection (a) above, the Committee in its discretion may provide, in
connection with the Change in Control transaction, for the purchase or exchange of each such Option for an amount of cash or other
property having a value equal to the difference (or “spread”) between: (i) the value of the cash or other property
that the Participant would have received pursuant to the Change in Control transaction in exchange for the shares issuable upon
exercise of the Option had such Option been exercised immediately prior to the Change in Control, and (ii) the Exercise Price of
the Option.

 

    	 

    	 

    

 

c.           Notwithstanding
Section 9 a-b above, the Committee shall have the discretion to provide in each Option Agreement other terms and conditions that
relate to (i) vesting of the Option in the event of a Change in Control, and (ii) assumption of such Option or issuance of comparable
securities or New Incentives in the event of a Change in Control. The aforementioned terms and conditions may vary in each Option
Agreement, and may be different from and have precedence over the provisions set forth in Section 9 a-b above.

 

d.           Outstanding
Options shall terminate and cease to be exercisable upon consummation of a Change in Control except to the extent that the Options
are assumed by the successor entity (or parent or subsidiary thereof) pursuant to the terms of the Change in Control transaction.

 

e.           If
outstanding Options will not be assumed by the acquiring or successor entity (or parent or subsidiary thereof), the Committee shall
cause written notice of a proposed Change in Control transaction to be given to Participants not less than fifteen (15) days prior
to the anticipated effective date of the proposed transaction.

 

IN WITNESS WHEREOF, the Company has duly executed
this Plan on this _____t day of ___________, 2011.

 

SECOND SIGHT MEDICAL PRODUCTS, INC., a California
corporation

 

	 	By:	 
	 	 	Robert Greenberg, M.D., President
	 	 	 
	 	By:	 
	 	 	Kathy London, SecretarySECOND SIGHT MEDICAL PRODUCTS, INC

 

EMPLOYEE OPTION AGREEMENT

 

SECOND SIGHT MEDICAL PRODUCTS, INC., a California
corporation (the "Company"), hereby grants to ________________ (the “Optionee”) an option (the “Option”)
to purchase _____________________ (________) Shares of the Company at _____________($_____) per Unit (the "Exercise Price"),
subject to the following terms and conditions:

 

1.        
  GRANT OF OPTION. The Company hereby grants to the Optionee an Option to purchase all or any portion of the
number of Shares set forth below (the “Option Shares”) at the times and at the Exercise Price per Share indicated
below. The Option shall expire at 5:00 p.m., Pacific Time, on the Expiration Date indicated below and shall be subject
to all of the terms and conditions of this Employee Option Agreement (the “Option Agreement”). The Option may be
exercised as to twenty percent (20%) of the Option Shares on or after the first anniversary of the Option Date and as to an
additional twenty percent (20%) of the Option Shares on or after each of the next four anniversaries of the Option Date.

 

	OPTION DATE:	______________________
	 	 
	TOTAL OPTION SHARES:	_____________________
	 	 
	EXERCISE PRICE PER SHARE:	______/Share
	 	 
	EXPIRATION DATE:	______________________

 

2.      
    RELATIONSHIP TO PLAN. This Option is granted pursuant to the Second Sight Medical Products,
Inc. Equity Incentive Plan (the "Plan"), and is subject to the provisions of the Plan. Capitalized terms not
defined herein shall have the meanings ascribed to them in the Plan. The Optionee hereby accepts this Option subject to all
the terms and provisions of the Plan. The Optionee further agrees that all decisions under and interpretations of the Plan by
the Compensation Committee (the "Committee") established under the Plan shall be final, binding and conclusive upon
the Optionee and his/her successors in interest.

 

3.      
    TERMINATION OF OPTION. 

 

a.           Termination
of Employment.

 

i.            Retirement.
If Optionee shall cease to be an employee of Company by reason of Optionee’s retirement in accordance with the Company’s
then current retirement policy or the written consent of the Manager of the Company (“Retirement”) and the Expiration
Date has not yet occurred, then:

 

(1)         the
Option shall terminate on the date of such Retirement as to the number of Shares as to which, as of the date of such retirement,
it has not become exercisable; and

 

    	1

    	 

    

 

(2)         the
Option shall terminate as to the number of Shares as to which, as of the date of such retirement, it has then become exercisable
upon the earlier of the Expiration Date or thirty (30) days after the date of such Retirement. The date of Optionee’s Retirement
shall be the date Optionee ceases to provide services to the Company regardless of whether Optionee continues on the Company’s
payroll for some time thereafter; provided, however, that the Committee may extend said thirty (30) day period for a period not
to exceed one (1) year but not in any event beyond the Expiration Date.

 

ii.     
    Death or Permanent Disability. If Optionee’s employment is terminated by reason of the
death or Permanent Disability (as hereinafter defined) of Optionee and the Expiration Date has not yet occurred, then:

 

(1)         the
Option shall terminate on the date of such employment termination as to the number of Shares for which, as of the date of such
employment termination, it has not then become exercisable; and

 

(2)         the
Option shall terminate as to the number of Shares for which, as of the date of such employment termination, it has then become
exercisable upon the earlier of the Expiration Date or the first anniversary of the date of such termination of employment. “Permanent
Disability” shall mean the inability to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous
period of not less than twelve (12) months. Optionee shall not be deemed to have a Permanent Disability until proof of the existence
thereof shall have been furnished to the Committee in such form and manner, and at such times, as the Committee may require. Any
determination by the Committee that Optionee does or does not have a Permanent Disability shall be final and binding upon the Company
and Optionee.

 

iii.    
     Other Termination. If Optionee’s employment is terminated for any reason other
than Retirement, death or Permanent Disability and the Expiration Date has not yet occurred, then:

 

(1)         the
Option shall terminate on the date of such employment termination as to the number of Shares for which, as of such date of employment
termination, it has not become exercisable; and

 

(2)         the
Option shall terminate as to the number of Shares for which, as of such date of employment termination, it has become exercisable
upon the earlier of the Expiration Date or thirty (30) days after the date of such termination of employment.

 

iv.     
    Death Following Termination of Employment. Notwithstanding anything to the contrary in this
Option Agreement, if Optionee shall die at any time after the termination of his employment and prior to the earlier of the
Expiration Date or the date the Option would terminate as to Shares for which it is then exercisable pursuant to clauses
(a)(i) or (iii) above, then, notwithstanding clauses (a)(i) or (iii) above, to the extent that the Option was exercisable on
the date of such death, the Option shall terminate on the earlier of the Expiration Date or the first anniversary of the date
of such death.

 

    	2

    	 

    

 

v.        
   Other Events Causing Termination of Option. Notwithstanding anything to the contrary in this Option
Agreement, the Option shall terminate upon the dissolution or liquidation of the Company.

 

4.     
     NONTRANSFERABILITY OF OPTION. This Option shall not be transferable by the Optionee
otherwise than by will or the laws of descent or distribution; provided, however, that upon written approval of the
Committee, the Optionee may transfer the Option to a tax exempt charitable organization or living trust of which the Optionee
is a trustee and which is for the benefit of the Optionee and his/her immediate family, provided that such transferee
executes and delivers to the Committee such documents providing that such transferee is bound by the provisions and
restrictions hereof as shall be satisfactory to the Committee.

 

5.      
    ADJUSTMENTS. 

 

a.           In
the event that the Shares then subject to the Option Agreement are increased, decreased or exchanged for or converted into a different
number or kind of Shares or securities of the Company as a result of a recapitalization, reclassification, Share dividend, Share
split, reverse Share split or the like, then, the Committee shall make appropriate and proportionate adjustments in the number
and type of Shares or other securities of the Company that may thereafter be acquired upon the exercise of the Option; provided,
however, that any such adjustments in the Option shall be made without changing the aggregate Exercise Price of the then unexercised
portion of the Option.

 

b.           In
case of any capital reorganization of the capital stock of the Company (other than a combination, reclassification, exchange or
subdivision of shares otherwise provided for herein), or any merger or consolidation of the Company with or into another corporation,
or the sale of all or substantially all of the assets of the Company, then, and in each such case, as a part of such reorganization,
merger, consolidation, sale or transfer, provision shall be made so that the Optionee thereafter shall be entitled to receive upon
exercise of the Option during the period specified herein and upon payment of the Exercise Price, the number of shares of stock
or other securities or property of the successor corporation resulting from such reorganization, merger, consolidation, sale or
transfer that a holder of the Shares deliverable upon exercise of this Option would have been entitled to receive in such reorganization,
consolidation, merger, sale or transfer if this Option had been exercised immediately before such reorganization, merger, consolidation,
sale or transfer, all subject to further adjustment as provided in this Section 5. The foregoing provisions of this Section 5 shall
similarly apply to successive reorganizations, consolidations, mergers, sale and transfers and to the stock or securities of any
other corporation that are at the time receivable upon the exercise of this Option. If the per-share consideration payable to Holder
for shares in connection with any such transaction is in a form other than cash or marketable securities, then the value of such
consideration shall be determined in good faith by the Company's Board of Directors. In all events, appropriate adjustment (as
determined in good faith by the Company's Board of Directors) shall be made in the application of the provisions of this Option
with respect to the rights and interests of Optionee after the transaction, to the end that the provisions of this Option shall
be applicable after that event, as near as reasonably may be, in relation to shares or other property (if any) deliverable after
that event upon exercise of this Option.

 

    	3

    	 

    

 

c.           In
the event that (a) in a single transaction or in multiple transactions occurring over less than a twelve month period, more than
fifty percent (50%) of the then outstanding shares of stock of the Company shall be transferred or issued to a single buyer or
group of buyers having no prior ownership affiliation with the Company, or (b) the Company shall offer its shares for sale through
an underwriting conducted as a public offering, then notwithstanding the number of Option Shares that may then be purchased by
Optionee under paragraph 1, hereof, the Optionee shall thereafter be entitled to exercise his or her Option with respect to One
Hundred Percent (100%) of his or her Option Shares.

 

6.     
     EXERCISE. The Option shall be exercisable during Optionee’s lifetime only by
Optionee, his guardian or legal representative or a transferee described in paragraph 4, above, and after Optionee’s
death, only by the person or entity entitled to do so under Optionee’s last will and testament, testamentary trust,
applicable intestate law, or a transferee described in paragraph 4, above. The Option shall be exercised by (a) satisfying
the requirements of paragraph 17 hereof, (b) delivering to the Company a written notice (the “Exercise Notice”)
of such exercise, which Exercise Notice shall be in a form reasonably satisfactory to the Company and shall specify the
number of Shares to be purchased (the “Purchased Shares”) and the aggregate purchase price as determined in
accordance with the terms of this Option Agreement (the “Aggregate Price”), and (c) within five (5) days
following the delivery of the Exercise Notice (the "Payment Date") making payment in full of the Aggregate
Price and withholding required under Paragraph 7, hereof. Payment of the Aggregate Price shall be in cash or by wire transfer
or check payable to the Company; provided, however, that payment of the Aggregate Price may instead be made, in whole or in
part, by the delivery to the Company on or before the Payment Date of a certificate or certificates representing Shares with
a Fair Market Value equal to that portion of the Aggregate Price being paid for with such Shares (or if Shares of the Company
are not then evidenced by certificates, other documents reasonably satisfactory to the Company) accompanied by duly executed
powers of attorney to transfer the Shares, which delivery effectively transfers to the Company good and valid title to such
Shares, free and clear of any pledge, commitment, lien, claim or other encumbrance, provided that:

 

a.           the
Company is not then prohibited from purchasing or acquiring such Shares of the Company by law or any judgment, decree, order or
agreement to which it is subject or by which it is bound; and

 

b.           if
such Shares were issued upon exercise of an option, they have been held by Optionee for at least six (6) months from the date of
issuance or such shorter period as the Company shall permit.

 

Subject to paragraph 14 hereof, promptly as practicable
following the timely receipt of the Aggregate Price and the withholding payment required under paragraph 7, the Company shall record
in its books and records the issuance of the Shares to the Optionee and, if Shares of the Company are then evidenced by certificates,
the Company shall issue a certificate in the name of the Optionee representing the number of Shares issued to the Optionee upon
exercise of the Option.

 

    	4

    	 

    

 

7.   
       PAYMENT OF WITHHOLDING TAXES. If the Company becomes obligated to withhold
an amount on account of any tax imposed as a result of the exercise of the Option, including, without limitation, any
federal, state, local or other income tax, or any F.I.C.A., state disability insurance tax or other employment tax, then, as
a condition to the exercise of the Option, Optionee shall in the Exercise Notice elect one of the following methods of
withholding:

 

a.           Concurrently
with the payment of the Aggregate Price, pay to the Company in cash or by wire transfer such amount as the Company shall determine
is required to be withheld;

 

b.           Concurrently
with the payment of the Aggregate Price, tender to the Company Shares theretofore acquired (in the manner described for transferring
Shares under the provisions of paragraph 6, hereof), or surrender Shares then being acquired, with an aggregate Fair Market Value
equal to the amount of the withholding tax then due as determined by the Company; or

 

c.           Concurrently
with the payment of the Aggregate Price, tender to the Company that portion of the Option rights then vested in, and unexercised
by, Optionee which has an Equity Value equal to the amount of withholding tax then due as determined by the Company. The term “Equity
Value” shall mean the difference between the then Fair Market Value of Shares subject to the Option rights being tendered
less the product of the number of such Shares multiplied by the Exercise Price.

 

The provisions of subparagraphs (b) and (c) may
be illustrated by the following example: Assume the Optionee has, under the Option Agreement, been granted an Option to purchase
1,000 Shares for $2.50 per Share and at the relevant point in time, the Option is 50% vested, the Optionee has not theretofore
exercised the Option, and the current Fair Market Value of a Share is $5.00. Accordingly, the Optionee may then purchase up to
500 Shares. The Optionee elects to purchase 400 Shares for a total of $1,000 and is advised by the Company that the withholding
tax due is $500. Under subparagraph (b), the Optionee could choose to surrender to the Company 100 of the 400 Shares then being
acquired (with a fair market value of $500) in full satisfaction of the withholding obligation. Under subparagraph (c), the Optionee
could tender back to the Company the value of the remaining unexercised vested portion of the Option, to wit, the right to acquire
100 Shares. The Equity Value of the right to acquire 100 Shares is $250 ($500 Fair Market Value, less $250 Exercise price). By
tendering to the Company, and forever relinquishing the right to acquire, those 100 Shares, the Optionee would receive a credit
of $250 against the withholding tax then due of $500 and would remain responsible for the remaining $250 (plus the additional withholding
taxes arising from the gain realized upon tendering the Option rights). Such remaining taxes due could be paid, at the Optionee’s
election, in accordance with subparagraphs(a) or (b), above, or a combination thereof.

 

Optionee acknowledges that Optionee has been advised
that the Option is not designed to qualify as an incentive stock option as that term is defined under Section 422 of the Internal
Revenue Code and therefore, upon the exercise of the Option by Optionee, the Optionee will, for federal and state income tax purposes,
realize ordinary income in an amount equal to the excess of the then Fair Market Value of the Purchased Shares over the Exercise
Price. “Fair Market Value” is defined in the Plan. Optionee understands that the Internal Revenue Service or Franchise
Tax Board may not agree with the Committee’s determination of Fair Market Value as computed in accordance with the Plan and,
in such event, either or both of such agencies could assess against Optionee additional taxes, interest, and penalties arising
from the exercise of the Option, the payment of which shall be the sole responsibility of Optionee and not the Company. Optionee
shall consult with his or her own independent tax advisors with respect to the tax consequences to Optionee of exercising this
Option.

 

    	5

    	 

    

 

8.     
     GOVERNING LAW AND INTERPRETATION. This Agreement shall be governed by and construed in
accordance with the laws of the State of California.

 

9.      
    BINDING EFFECT. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors, assigns and legal representatives.

 

10.    
     NOTICES. All notices and other communications required or permitted to be given pursuant
to this Option Agreement shall be in writing and shall be deemed given if delivered personally or five (5) days after mailing
by certified or registered mail, postage prepaid, return receipt requested, in the case of notice to the Company, to the
Company at 12744 San Fernando Road, Bldg. 3, Sylmar, California 91342, Attn: President, or, in the case of notice to the
Optionee, to the Optionee at his residence address set forth in the records of the Company, or at such other addresses as the
Company or the Optionee may designate by written notice in the manner aforesaid.

 

11.   
      EMPLOYMENT RIGHTS. No provision of this Option Agreement or of the Option granted
hereunder shall:

 

a.           confer
upon Optionee any right to continue in the employ of, or in his or her current arrangement with, the Company or any of its subsidiaries;

 

b.           affect
the right of the Company or any of its subsidiaries and affiliates to terminate the employment of Optionee, or such arrangement,
with or without cause; or

 

c.           confer
upon Optionee any right to participate in any employee welfare or benefit plan or other program of the Company or any of its subsidiaries
or affiliates other than the Plan. Optionee hereby acknowledges and agrees that the Company or any of its subsidiaries and affiliates
may terminate the employment of Optionee at any time and for any reason, or for no reason, unless Optionee and the Company or such
subsidiary or affiliates are parties to a written employment agreement that expressly provides otherwise.

 

12.    
     INTERPRETATION.  At any place in this Option Agreement where the masculine, feminine or
neuter gender is used, it may be construed to be either masculine or feminine or neuter, and where the singular or plural is
used, it may be construed to be either singular or plural, as appropriate.

 

13.      
   RESTRICTION ON TRANSFER OF SHARES. The Optionee covenants and agrees that the Shares issued to
Optionee upon exercise of the Option will be acquired as an investment and not with a view to the distribution thereof, and
that such Shares may not be transferred, sold, assigned, hypothecated, or otherwise disposed of, in whole or in part, except
pursuant to a registration statement filed under the Securities Act of 1933 or pursuant to an exemption therefrom. In that
connection, the Optionee acknowledges and understands that, as of the date of this Option Agreement, the Company has not
sought registration of any Shares and it is uncertain, and the Company makes no representations as to, whether it will ever
register any Shares or list same for quotation on any exchange or other public listing service. Unless the Shares are
registered, Optionee understands that he or she may not be able to sell or dispose of the Shares as there will be no public
market for them and therefore it may not be possible for the Optionee to liquidate his or her investment in the Shares in the
event of need or emergency.

 

    	6

    	 

    

 

14.      
   PARTY TO SHAREHOLDERS AGREEMENT. As a condition to being issued Shares upon the exercise of the
Option, the Optionee shall, upon request of the Committee, sign, by counterpart, and become a party to, any shareholders
agreement then in effect among the shareholders of the Company or such other agreement which contains similar terms and
provisions with respect to restrictions on the sale or other disposition of the Shares.

 

15.      
   NO REPRESENTATIONS OF VALUE. Optionee recognizes that the Company is relatively newly organized, has
little history of operations, has yet to realize, and may never realize, any earnings, is a speculative venture, and that
investment in Shares involves significant risks. Optionee warrants, represents, and acknowledges that the Company has made no
representations of any nature or kind to Optionee as to the current or future value, if any, of the Option granted hereunder
or of the Shares and that any determination by the Committee or Company of Fair Market Value may not necessarily reflect the
price, if any, that the Optionee could, at any particular time, obtain for the Shares if he/she sought to sell all or any
portion of the Optionee’s Shares. Optionee further acknowledges that the value of this Option, if any, is dependent,
among other things, upon the future growth, development, and profitability of the Company, none of which can be predicted at
this time. Optionee understands that this Option has not been reviewed or passed upon by any federal or state agency.

 

16.    
     DISCLOSURE STATEMENT. The Company is not required to issue, and does not currently plan
on issuing, to the Optionee a disclosure statement concerning the Company, its operations, and the benefits and risks of
making an investment in Shares. Nevertheless, if the Company should at any time publicly issue such disclosure statement,
Company shall provide a copy of the same to Optionee.

 

17.       
  ADDITIONAL EXERCISE REQUIREMENTS. Optionee understands that as a condition to Optionee purchasing Shares
hereunder, California law may require that the Committee first satisfy itself that the Optionee has certain financial
resources or business/personal relationships with the Company, or that Optionee has sufficient business and financial
experience to adequately evaluate the propriety of making an investment in Shares and protecting the Optionee's financial
interests. If Optionee is unable to satisfy those requirements, Optionee shall be required to engage a qualified financial
advisor of Optionee's choosing to evaluate the propriety of Optionee exercising the Option. To satisfy the foregoing
requirements, it will be necessary for the Committee to solicit certain personal and financial information from the Optionee.
Accordingly, prior to delivering to the Company an Exercise Notice, Optionee shall request in writing from the Company a
Subscription Booklet and the Company shall promptly deliver same to Optionee and include a Purchaser Questionnaire, Statement
of Investor Suitability, and Purchaser Representative Questionnaire. At least ten (10) calendar days preceding the date the
Optionee delivers an Exercise Notice to the Company, the Optionee shall deliver to Company a fully completed, and duly
executed, Subscription Booklet. The right of Optionee to exercise Optionee's Option shall be expressly conditioned upon the
satisfaction of the foregoing requirements. Any Exercise Notice given by Optionee without Optionee having complied with the
requirements of this Paragraph 17 shall be null and void and of no effect.

 

    	7

    	 

    

 

18.    
     ENTIRE AGREEMENT. This Option Agreement contains the entire agreement and understanding
of the parties hereto relating to the subject matter hereof and supersedes all prior and collateral agreements,
understandings, statements, promises, or agreements, oral or written, with reference to the subject matter hereof. No
warranties or representations have been made by either party other than as expressly set forth herein.

 

IN WITNESS WHEREOF, the Company and the Optionee
have caused this agreement to be executed on this ________ day of __________________ 200_.

 

	 	SECOND SIGHT MEDICAL PRODUCTS, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Title	 
	 	 	 
	 	 	"Company"
	 	 	 
	 	 	 
	 	 	 
	 	By:	 
	 	 	 
	 	Title	 
	 	 	 
	 		"Optionee"

 

    	8

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