Document:

EX-10.11

 Exhibit 10.11 

INDEMNITY AGREEMENT 
 THIS INDEMNITY
AGREEMENT (this “Agreement”) is made as of [•], 2021, by and between UpHealth, Inc., a Delaware corporation (the “Company”), and (“Indemnitee”). 

RECITALS 
 WHEREAS, highly
competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks
of claims and actions against them arising out of their service to and activities on behalf of such corporations; 
 WHEREAS, the Board of Directors
of the Company (the “Board”) has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons
serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes
that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors, officers and other persons in service to corporations or business
enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise itself. The Amended and
Restated Certificate of Incorporation (the “Charter”) and the Bylaws (the “Bylaws”) of the Company require indemnification of the officers and directors of the Company. Indemnitee may also be entitled
to indemnification pursuant to applicable provisions of the Delaware General Corporation Law (“DGCL”). The Charter, Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not
exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification, hold harmless, exoneration, advancement and reimbursement
rights; 
 WHEREAS, the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining
such persons; 
 WHEREAS, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best
interests of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future; 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and to advance
expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so protected against liabilities; 

WHEREAS, this Agreement is a supplement to and in furtherance of the Charter and Bylaws of the Company and any resolutions adopted pursuant thereto,
and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; 
 WHEREAS, Indemnitee may not be
willing to serve as an officer, director, advisor or in another capacity without adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service
for or on behalf of the Company on the condition that he or she be so indemnified; and 

 NOW, THEREFORE, in consideration of the premises and the covenants contained herein and subject to
the provisions of the Insider Letter dated as of [•], 2019, the Company and Indemnitee do hereby covenant and agree as follows: 

TERMS AND CONDITIONS 
 1.
SERVICES TO THE COMPANY. In consideration of the Company’s covenants and obligations hereunder, Indemnitee will serve or continue to serve as an officer, director, advisor, key employee or in any other capacity of the Company, as
applicable, for so long as Indemnitee is duly elected or appointed or retained or until Indemnitee tenders his or her resignation or until Indemnitee is removed. The foregoing notwithstanding, this Agreement shall continue in full force and effect
after Indemnitee has ceased to serve as a director, officer, advisor, key employee or in any other capacity of the Company, as provided in Section 17. This Agreement, however, shall not impose any obligation on Indemnitee
or the Company to continue Indemnitee’s service to the Company beyond any period otherwise required by law or by other agreements or commitments of the parties, if any. 

2. DEFINITIONS. As used in this Agreement: 
 (a)
References to “agent” shall mean any person who is or was a director, officer or employee of the Company or a subsidiary of the Company or other person authorized by the Company to act for the Company, to include such person
serving in such capacity as a director, officer, employee, advisor, fiduciary or other official of another corporation, partnership, limited liability company, joint venture, trust or other enterprise at the request of, for the convenience of, or to
represent the interests of the Company or a subsidiary of the Company. 
 (b) The terms “Beneficial Owner” and
“Beneficial Ownership” shall have the meanings set forth in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof. 

(c) A “Change in Control” shall be deemed to occur upon the earliest to occur, after the date of this Agreement, of the following
events: 
 (i) Acquisition of Stock by Third Party. The date on which any Person (as defined below), other than an affiliate of GigAcquisitions2, LLC,
a Delaware limited liability company (“Sponsor”), is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the
Company’s then outstanding securities entitled to vote generally in the election of directors, unless (1) the change in the relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction in the
aggregate number of outstanding shares of securities entitled to vote generally in the election of directors, or (2) such acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition would not
constitute a Change in Control under part (iii) of this definition; 
 (ii) Change in Board of Directors. The date on which the individuals who,
as of the date hereof, constitute the Board, and any new director whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the
directors then still in office who were directors on the date hereof or whose election for nomination for election was previously so approved (collectively, the “Continuing Directors”), cease for any reason to constitute at
least a majority of the members of the Board; 

  
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 (iii) Corporate Transactions. The effective date of a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization, recapitalization or other similar business combination, involving the Company and one or more businesses (a “Business Combination”), in each case, unless, following such Business
Combination: (1) all or substantially all of the individuals and entities who were the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business Combination beneficially own,
directly or indirectly, more than 51% of the combined voting power of the then outstanding securities of the Company entitled to vote generally in the election of directors resulting from such Business Combination (including, without limitation, a
corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries (as defined below)) in substantially the same proportions as their
ownership immediately prior to such Business Combination, of the securities entitled to vote generally in the election of directors; (2) other than an affiliate of Sponsor, no Person (excluding any corporation resulting from such Business
Combination) is the Beneficial Owner, directly or indirectly, of 15% or more of the combined voting power of the then outstanding securities entitled to vote generally in the election of directors of the surviving corporation except to the extent
that such ownership existed prior to the Business Combination; and (3) at least a majority of the Board of Directors of the corporation resulting from such Business Combination were Continuing Directors at the time of the execution of the
initial agreement, or of the action of the Board of Directors, providing for such Business Combination; 
 (iv) Liquidation. The date of the receipt
by the Company of the requisite approval by its stockholders, under the Charter and the Bylaws, of (A) a complete liquidation of the Company, or (B) an agreement or series of agreements for the sale or disposition by the Company of all or
substantially all of the Company’s assets, other than factoring the Company’s current receivables or escrows due (or, if such stockholder approval is not required, the decision by the Board to proceed with such a liquidation, sale, or
disposition in one transaction or a series of related transactions); or 
 (v) Other Events. There occurs any other event of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or any successor rule) (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the
Company is then subject to such reporting requirement. 
 (d) “Corporate Status” describes the status of a person who is or was a
director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person is or was serving at the request of the Company. 

(e) “Delaware Court” shall mean the Court of Chancery of the State of Delaware. 

(f) “Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding (as defined below)
in respect of which indemnification is sought by Indemnitee. 
 (g) “Enterprise” shall mean the Company and any other corporation,
constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited liability company, partnership, joint venture, trust,
employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee or agent. 

(h) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

  
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 (i) “Expenses” shall include all direct and indirect costs, fees and expenses of any
type or nature whatsoever, including, without limitation, all reasonable attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, fees of private investigators and professional
advisors, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations or expenses in connection with prosecuting,
defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, settlement or appeal of, or otherwise participating in, a Proceeding (as defined below). Expenses also shall include Expenses incurred in connection
with any appeal resulting from any Proceeding (as defined below), including without limitation the principal, premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. Expenses,
however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 
 (j) References to
“fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer,
employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted
in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best
interests of the Company” as referred to in this Agreement. 
 (k) “Independent Counsel” shall mean a law firm or a member
of a law firm with significant experience in matters of corporation law and that neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other
than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined below) giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
 (l) The term “Person” shall have
the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as in effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any Subsidiaries (as defined below) of the Company;
(iii) any employment benefit plan of the Company or of a Subsidiary (as defined below) of the Company or of any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company; and (iv) any trustee or other fiduciary holding securities under an employee benefit plan of the Company or of a Subsidiary (as defined below) of the Company or of a corporation owned directly or indirectly by
the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company. 
 (m) The term
“Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or
completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims), criminal, administrative or investigative or related nature, in which Indemnitee was, is,
will or might be involved as a party or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action (or failure to act) taken by him or her, or of any action (or failure to act) on his or
her part while acting as a director or officer of the Company, or by reason of the 

  
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 fact that he or she is or was serving at the request of the Company as a director, officer, trustee, general
partner, managing member, fiduciary, employee or agent of any other Enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of
expenses can be provided under this Agreement. 
 (n) The term “Subsidiary,” with respect to any Person, shall mean any corporation,
limited liability company, partnership, joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by that Person. 

3. INDEMNITY IN THIRD-PARTY PROCEEDINGS. To the fullest extent permitted by applicable law, the Company shall indemnify, hold harmless and exonerate
Indemnitee in accordance with the provisions of this Section 3 if Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding, other than a Proceeding
by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 3, Indemnitee shall be indemnified, held harmless and exonerated against all
Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid
in settlement) actually, and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in
or not opposed to the best interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that his or her conduct was unlawful. 

4. INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY. To the fullest extent permitted by applicable law, the Company shall indemnify, hold
harmless and exonerate Indemnitee in accordance with the provisions of this Section 4 if Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding
by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 4, Indemnitee shall be indemnified, held harmless and exonerated against all
Expenses actually and reasonably incurred by him or her, or on his or her behalf, in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or
not opposed to the best interests of the Company. No indemnification, hold harmless or exoneration for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have
been finally adjudged by a court to be liable to the Company, unless and only to the extent that any court in which the Proceeding was brought or the Delaware Court shall determine upon application that, despite the adjudication of liability but in
view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification, to be held harmless or to exoneration. 
 5.
INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL. Notwithstanding any other provisions of this Agreement except for Section 27, to the extent that Indemnitee was or is, by reason of
Indemnitee’s Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall, to the fullest extent
permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by him or her in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful,
on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all
Expenses actually and reasonably incurred by him or her, or on his or her behalf, in connection with each successfully resolved claim, issue or matter. If Indemnitee is not wholly successful in such Proceeding, the Company also shall, to the fullest

  
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 extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses
reasonably incurred in connection with a claim, issue or matter related to any claim, issue, or matter on which Indemnitee was successful. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a
Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 
 6. INDEMNIFICATION
FOR EXPENSES OF A WITNESS. Notwithstanding any other provision of this Agreement except for Section 27, to the extent that Indemnitee is, by reason of his or her Corporate Status, a witness or deponent in any Proceeding
to which Indemnitee was or is not a party or threatened to be made a party, he or she shall, to the fullest extent permitted by applicable law, be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by him
or her, or on his or her behalf in connection therewith. 
 7. ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS. Notwithstanding any
limitation in Sections 3, 4, or 5, except for Section 27, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party
to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines, penalties and amounts paid in settlement (including all
interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding.
No indemnification, hold harmless or exoneration rights shall be available under this Section 7 on account of Indemnitee’s conduct which constitutes a breach of Indemnitee’s duty of loyalty to the Company or its
stockholders or is an act or omission not in good faith or which involves intentional misconduct or a knowing violation of the law. 
 8. CONTRIBUTION IN
THE EVENT OF JOINT LIABILITY. 
 (a) To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration
rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount
incurred by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company
hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee. 
 (b) The Company shall not enter into any settlement
of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee. 

(c) The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be brought by officers,
directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee. 
 9. EXCLUSIONS. Notwithstanding any
provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnification, advance expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee: 

(a) for which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement provision, except
with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement, other indemnity or advancement provision or otherwise; 

  
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 (b) for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of
securities of the Company within the meaning of Section 16(b) of the Exchange Act (or any successor rule) or similar provisions of state statutory law or common law; or 

(c) except as otherwise provided in Sections 14(f)-(g) hereof, prior to a Change in Control, in connection with any Proceeding (or any part of any
Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding
(or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, hold harmless or exoneration payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law.
Indemnitee shall seek payments or advances from the Company only to the extent that such payments or advances are unavailable from any insurance policy of the Company covering Indemnitee. 

10. ADVANCES OF EXPENSES; DEFENSE OF CLAIM. 
 (a)
Notwithstanding any provision of this Agreement to the contrary except for Section 27, and to the fullest extent not prohibited by applicable law, the Company shall pay the Expenses incurred by Indemnitee (or reasonably
expected by Indemnitee to be incurred by Indemnitee within three months) in connection with any Proceeding within ten (10) days after the receipt by the Company of a statement or statements requesting such advances from time to time, prior to
the final disposition of any Proceeding. Advances shall, to the fullest extent permitted by law, be unsecured and interest free. Advances shall, to the fullest extent permitted by law, be made without regard to Indemnitee’s ability to repay the
Expenses and without regard to Indemnitee’s ultimate entitlement to be indemnified, held harmless or exonerated under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing a Proceeding
to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. To the fullest extent required by applicable law, such payments of Expenses in advance of the final
disposition of the Proceeding shall be made only upon the Company’s receipt of an undertaking, by or on behalf of Indemnitee, to repay the advanced amounts to the extent that it is ultimately determined that Indemnitee is not entitled to be
indemnified by the Company under the provisions of this Agreement, the Charter, the Bylaws of the Company, applicable law or otherwise. This Section 10(a) shall not apply to any claim made by Indemnitee for which an
indemnification, hold harmless or exoneration payment is excluded pursuant to Section 9. 
 (b) The Company will be entitled to
participate in the Proceeding at its own expense. 
 (c) The Company shall not settle any action, claim or Proceeding (in whole or in part) which would
impose any Expense, judgment, fine, penalty or limitation on Indemnitee without Indemnitee’s prior written consent. 
 11. PROCEDURE FOR
NOTIFICATION AND APPLICATION FOR INDEMNIFICATION. 
 (a) Indemnitee agrees to notify promptly the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding, claim, issue or matter therein which may be subject to indemnification, hold harmless or exoneration rights, or advancement of Expenses covered
hereunder. The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise. 

  
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 (b) Indemnitee may deliver to the Company a written application to indemnify, hold harmless or exonerate
Indemnitee in accordance with this Agreement. Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole discretion. Following such a written application for indemnification by
Indemnitee, Indemnitee’s entitlement to indemnification shall be determined according to Section 12(a) of this Agreement. 

12. PROCEDURE UPON APPLICATION FOR INDEMNIFICATION. 
 (a)
A determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in the specific case by one of the following methods: (i) if no Change in Control has occurred, (x) by a
majority vote of the Disinterested Directors, even though less than a quorum of the Board, (y) by a committee of Disinterested Directors, even though less than a quorum of the Board, or (z) if there are no Disinterested Directors, or if
such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee, or (ii) if a Change in Control has occurred, by Independent Counsel in a written opinion to the
Board, a copy of which shall be delivered to Indemnitee. The Company promptly will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or
basis for which indemnification has been denied. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably cooperate
with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information
which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including reasonable attorneys’ fees and disbursements)
incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby
agrees to indemnify and to hold Indemnitee harmless therefrom. 
 (b) In the event the determination of entitlement to indemnification is to be made by
Independent Counsel pursuant to Section 12(a) hereof, the Independent Counsel shall be selected as provided in this Section 12(b). The Independent Counsel shall be selected by Indemnitee (unless
Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected
meets the requirements of “Independent Counsel” as defined in Section 2 of this Agreement. If the Independent Counsel is selected by the Board, the Company shall give written notice to Indemnitee advising him or
her of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets the requirements of “Independent Counsel” as defined in Section 2 of this Agreement. In
either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been received, deliver to the Company or to Indemnitee, as the case may be, a written objection to such
selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this
Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and
substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court of competent jurisdiction has determined 

  
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 that such objection is without merit. If, within twenty (20) days after submission by Indemnitee of a
written request for indemnification pursuant to Section 11(b) hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court for resolution of
any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the Delaware Court, and the person with respect to
whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to
Section 14(a) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). 

(c) The Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such Independent Counsel
against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 
 13.
PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS. 
 (a) In making a determination with respect to entitlement to indemnification hereunder, the
person, persons or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with
Section 11(b) of this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption.
Neither the failure of the Company (including by the Disinterested Directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances
because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by the Disinterested Directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a
defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 
 (b) If the person, persons or entity
empowered or selected under Section 12 of this Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the
request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent permitted by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by
Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a final judicial determination that any or all
such indemnification is expressly prohibited under applicable law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional fifteen (15) days, if the
person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto. 

(c) The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo
contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a
manner which he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his or her conduct was unlawful. 

  
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 (d) For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith
if Indemnitee’s action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee by the directors, manager, or officers of the Enterprise in the course of their
duties, or on the advice of legal counsel for the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing member, or on information or records given or reports made to the Enterprise, its
Board, any committee of the Board or any director, trustee, general partner, manager or managing member, by an independent certified public accountant or by an appraiser or other expert selected by the Enterprise, its Board, any committee of the
Board or any director, trustee, general partner, manager or managing member. The provisions of this Section 13(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be
deemed or found to have met the applicable standard of conduct set forth in this Agreement. 
 (e) The knowledge and/or actions, or failure to act, of any
other director, officer, trustee, partner, manager, managing member, fiduciary, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 

14. REMEDIES OF INDEMNITEE. 
 (a) In the event that
(i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by
applicable law, is not timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 12(a) of this Agreement within thirty
(30) days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 5, 6, 7 or the last sentence of
Section 12(a) of this Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) a contribution payment is not made in a timely manner pursuant to
Section 8 of this Agreement, (vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not made within ten (10) days after a determination has been made that
Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee pursuant to any hold harmless or exoneration rights under this Agreement or otherwise is not made in accordance with this Agreement, Indemnitee shall be entitled to an
adjudication by the Delaware Court to such indemnification, hold harmless, exoneration, contribution or advancement rights. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator
pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Except as set forth herein, the provisions of Delaware law (without regard to its conflict of laws rules) shall apply to any such arbitration. The Company shall
not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 
 (b) In the event that a determination shall have been made
pursuant to Section 12(a) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in
all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination. 
 (c) In any
judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be entitled to be indemnified, held harmless, exonerated to receive advancement of Expenses under this Agreement and
the Company shall have the burden of proving Indemnitee is not entitled to be indemnified, held harmless, exonerated and to receive advancement of Expenses, as the case may be, and the Company may not refer to or introduce into evidence any
determination pursuant to Section 12(a) of this Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 14, Indemnitee
shall not be required to reimburse the Company for any advances pursuant to Section 10 until a final determination is made with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal
have been exhausted or lapsed). 

  
 10 

 (d) If a determination shall have been made pursuant to Section 12(a) of this
Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) a misstatement by
Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under
applicable law. 
 (e) The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this
Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of
this Agreement. 
 (f) The Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if
requested by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee, to the fullest extent permitted by applicable law, such Expenses which are incurred by Indemnitee in connection
with any judicial proceeding or arbitration brought by Indemnitee: (i) to enforce his or her rights under, or to recover damages for breach of, this Agreement or any other indemnification, hold harmless, exoneration, advancement or contribution
agreement or provision of the Charter, or the Bylaws now or hereafter in effect; or (ii) for recovery or advances under any insurance policy maintained by any person for the benefit of Indemnitee, regardless of the outcome and whether
Indemnitee ultimately is determined to be entitled to such indemnification, hold harmless or exoneration right, advancement, contribution or insurance recovery, as the case may be (unless such judicial proceeding or arbitration was not brought by
Indemnitee in good faith). 
 (g) Interest shall be paid by the Company to Indemnitee at the legal rate under Delaware law for amounts which the Company
indemnifies, holds harmless or exonerates, or advances, or is obliged to indemnify, hold harmless or exonerate or advance for the period commencing with the date on which Indemnitee requests indemnification, to be held harmless, exonerated,
contribution, reimbursement or advancement of any Expenses and ending with the date on which such payment is made to Indemnitee by the Company. 
 15.
SECURITY. Notwithstanding anything herein to the contrary, except for Section 27, to the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security to
Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of
Indemnitee. 
 16. NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION. 

(a) The rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled
under applicable law, the Charter, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of
Indemnitee under this Agreement in respect of any Proceeding (regardless of when such 

  
 11 

 Proceeding is first threatened, commenced or completed) or claim, issue or matter therein arising out of, or
related to, any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial decision, permits greater
indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded currently under the Charter, the Bylaws or this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement
the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 

(b) The DGCL, the Charter and the Bylaws permit the Company to purchase and maintain insurance or furnish similar protection or make other arrangements
including, but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification Arrangements”) on behalf of Indemnitee against any liability asserted against him or her, or incurred by or on behalf
of him or her, or in such capacity as a director, officer, employee or agent of the Company, or arising out of his or her status as such, whether or not the Company would have the power to indemnify him or her against such liability under the
provisions of this Agreement or under the DGCL, as it may then be in effect. The purchase, establishment, and maintenance of any such Indemnification Arrangement shall not in any way limit or affect the rights and obligations of the Company or of
Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the Company or the other party or
parties thereto under any such Indemnification Arrangement. 
 (c) To the extent that the Company maintains an insurance policy or policies providing
liability insurance for directors, officers, trustees, partners, managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which such person serves at the request of the Company, Indemnitee shall be
covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer, trustee, partner, managers, managing member, fiduciary, employee or agent under such policy or
policies. If, at the time the Company receives notice from any source of a Proceeding as to which Indemnitee is a party or a participant (as a witness, deponent or otherwise), the Company has director and officer liability insurance in effect, the
Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf
of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. 
 (d) In the event of any payment under
this Agreement, the Company, to the fullest extent permitted by law, shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such
rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 
 (e) The Company’s
obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of any
other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration payments or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the
contrary except for Section 27, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification, hold harmless, exoneration, 

  
 12 

 advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee
prior to the Company’s satisfaction and performance of all its obligations under this Agreement, and (ii) the Company shall perform fully its obligations under this Agreement without regard to whether Indemnitee holds, may pursue or has
pursued any indemnification, advancement, hold harmless, exoneration, contribution or insurance coverage rights against any person or entity other than the Company. 

17. DURATION OF AGREEMENT. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee serves as a
director or officer of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which
Indemnitee serves at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to
Section 14 of this Agreement) by reason of his or her Corporate Status, whether or not he or she is acting in any such capacity at the time any liability or expense is incurred for which indemnification or advancement can
be provided under this Agreement. 
 18. SEVERABILITY. If any provision or provisions of this Agreement shall be held to be invalid, illegal or
unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing
any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law;
(b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of
this Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable)
shall be construed so as to give effect to the intent manifested thereby. 
 19. ENFORCEMENT AND BINDING EFFECT. 

(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce
Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director, officer or key employee of the Company. 

(b) Without limiting any of the rights of Indemnitee under the Charter or Bylaws of the Company as they may be amended from time to time, this Agreement
constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof. 
 (c) The indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement shall be
binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets
of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent of any other
Enterprise at the Company’s request, and shall inure to the benefit of Indemnitee and his or her spouse, assigns, heirs, devisees, executors and administrators and other legal representatives. 

  
 13 

 (d) The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 
 (e) The Company and
Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the
parties hereto agree that Indemnitee may, to the fullest extent permitted by law, enforce this Agreement by seeking, among other things, injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or
irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which he or she may be entitled. The Company and Indemnitee further agree that
Indemnitee shall, to the fullest extent permitted by law, be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting
bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a court of competent jurisdiction, the Company hereby waives any such requirement of
such a bond or undertaking to the fullest extent permitted by law. 
 20. MODIFICATION AND WAIVER. No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by the Company and Indemnitee. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver
constitute a continuing waiver. 
 21. NOTICES. All notices, requests, demands and other communications under this Agreement shall be in writing and
shall be deemed to have been duly given (i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on
the third (3rd) business day after the date on which it is so mailed: 
 (a) If to Indemnitee, at the address indicated on the signature page of this
Agreement, or such other address as Indemnitee shall provide in writing to the Company. 
 (b) If to the Company, to: 

UpHealth, Inc. 
 14000 S. Military Trail 

Delray Beach, FL 33484 
 Attn: 

With a copy, which shall not constitute notice, to 
 DLA Piper
LLP (US) 
 555 Mission St, #2400 
 San Francisco, CA 94105 

Attn: Jeffrey C. Selman, Esq. 
 or to any other address as may
have been furnished to Indemnitee in writing by the Company. 

  
 14 

 22. APPLICABLE LAW AND CONSENT TO JURISDICTION. This Agreement and the legal relations among the
parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to
Section 14(a) of this Agreement, to the fullest extent permitted by law, the Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of or in connection with
this Agreement shall be brought only in the Delaware Court and not in any other state or federal court in the United States of America or any court in any other country; (b) consent to submit to the exclusive jurisdiction of the Delaware Court
for purposes of any action or proceeding arising out of or in connection with this Agreement; (c) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court; and (d) waive, and agree not to plead or
to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum, or is subject (in whole or in part) to a jury trial. To the fullest extent permitted by law, the parties
hereby agree that the mailing of process and other papers in connection with any such action or proceeding in the manner provided by Section 21 or in such other manner as may be permitted by law, shall be valid and
sufficient service thereof. 
 23. IDENTICAL COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall for all
purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this
Agreement. 
 24. MISCELLANEOUS. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The
headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 

25. PERIOD OF LIMITATIONS. No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against
Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and
deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of
action such shorter period shall govern. 
 26. ADDITIONAL ACTS. If for the validation of any of the provisions in this Agreement any act,
resolution, approval or other procedure is required to the fullest extent permitted by law, the Company undertakes to cause such act, resolution, approval or other procedure to be affected or adopted in a manner that will enable the Company to
fulfill its obligations under this Agreement. 
 27. WAIVER OF CLAIMS TO TRUST ACCOUNT. Indemnitee hereby agrees that it does not have any right,
title, interest or claim of any kind (each, a “Claim”) in or to any monies in the trust account established in connection with the Company’s initial public offering for the benefit of the Company and holders of shares
issued in such offering, and hereby waives any Claim it may have in the future as a result of, or arising out of, any services provided to the Company and will not seek recourse against such trust account for any reason whatsoever. 

28. MAINTENANCE OF INSURANCE. The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period for which
the Company is obligated to indemnify Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and omissions
and to ensure the Company’s performance of its indemnification 

  
 15 

 obligations under this Agreement. Indemnitee shall be covered by such policy or policies in accordance with
its or their terms to the maximum extent of the coverage available for any such director or officer under such policy or policies. In all such insurance policies, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee with
the same rights and benefits as are accorded to the most favorably insured of the Company’s directors and officers. 
 [Signature
page to follow] 

  
 16 

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

	
	THE COMPANY:
	
	 UPHEALTH, INC.
  

	  

[Name, Title]

	
	 INDEMNITEE:
  

	  
 [Name]

	
	Address:
	
	  

	
	  

	
	  

 Signature page to Indemnification AgreementExhibit
10.1

 

June
10, 2021

 

Mark
Ruport

3900
Paseo Del Sol

Santa
Fe, New Mexico 87507

 

Re:
Amended and Restated Employment Agreement

 

Dear
Mr. Ruport,

 

This
letter agreement (this “Agreement”) confirms the principal terms of our agreement, as set forth below, with respect
to your employment by Sigma Labs, Inc. (the “Company”). This Agreement is retroactive to January 1, 2021 (the “Effective
Date”).

 

1.
Original Agreement: The Company currently employs you pursuant to that certain employment agreement effective as of December 3,
2019 by and between the Company and you (the “Original Agreement”). All terms herein supersede the Original Agreement
as of the Effective Date, except that this Agreement does not amend, terminate, supersede or otherwise affect any outstanding stock options
or stock appreciation rights held by you, which shall remain outstanding in accordance with the terms of the respective stock option
agreements and stock appreciation rights evidencing such awards.

 

2.
Employment; Title; Duties: Effective as of the Effective Date, the Company shall employ you, and you shall serve, as the Company’s
President and Chief Executive Officer. You understand that your duties as President and Chief Executive Officer may change from time
to time during the Term (as herewith defined) in the discretion of the Board, but such duties shall be consistent with the duties customarily
assigned to the offices of president and chief executive officer of a company substantially comparable as of the Effective Date to the
Company. You shall perform faithfully, diligently and to the best of your ability all of your duties and responsibilities hereunder in
accordance with the policies established by and under the direction of the Board. Subject to the direction and supervision of the Board,
you shall have such corporate power and authority as shall reasonably be required to enable you to discharge your duties under this Agreement.
Your services hereunder shall be rendered primarily at the Company’s principal executive offices and at your current home office
in Colorado, except for travel when and as required in the performance of your duties hereunder. For as long as you serve as the Chief
Executive Officer, you will serve on the Board of Directors of the Company. The duration of your employment is hereafter referred to
as the “Term.”

 

3.
At-Will Employment; Termination: The Company has the right to terminate your employment at any time, with or without cause and
for any reason, subject to Section 5. You have the right to terminate your employment at any time and for any reason. You are employed
by the Company “at will,” and this letter does not provide you with any right to continue in the employment of the Company
for any minimum or specified period. Except as specifically provided in this letter, the Company shall have no obligation to make any
compensation, severance or other payments to you, or to provide any other benefits to you, after the date of the termination of your
employment for any reason.

 

Notwithstanding
anything else contained in this Agreement, your employment hereunder will terminate upon the earliest to occur of the following:

 

(i)
Death. Immediately upon your death;

 

(ii)
Termination by the Company.

 

    	 

     

    

  

(1)
If because of Disability (as defined below), then upon written notice by the Company to you that your employment is being terminated
as a result of your Disability, which termination shall be effective on the date of such notice;

 

(2)
If for Cause, then upon written notice to you by the Company that states that your employment is being terminated for Cause (as defined
below) and sets forth the specific alleged Cause for termination and the factual basis supporting the alleged Cause, which termination
shall be effective on the date of such notice or such later date as specified in writing by the Board; or

 

(3)
If without Cause (i.e., for reasons other than Section 3(ii)(1) or 3(ii)(2)), then upon written notice by the Company to you that your
employment is being terminated without Cause, which termination shall be effective on the date of such notice or such later date as specified
in writing by the Board; or

 

(iii)
Termination by You. Upon written notice by you to the Company that you are terminating your employment, which termination shall be effective
immediately after the date of such notice.

 

4.
Compensation:

 

(a)
Base Salary: During the Term, the Company shall pay to you an annual base salary (the “Base Salary”) of $250,000,
payable in regular installments in accordance with the Company’s customary payroll practices for employees. If you are entitled
to receive Base Salary for any period that is less than one calendar month, the Base Salary for such period shall be computed by prorating
the annual Base Salary over such period based upon the actual number of days therein. The Base Salary shall not be subject to decrease
but may be increased in the discretion of the Company’s Compensation Committee based on annual or special case assessments of your
performance and other factors. All payments shall be made in accordance with the Company’s payroll practices. The Company may deduct
and withhold from your compensation under this agreement any amounts of money required to be deducted or withheld by the Company under
any or all applicable local, state or federal laws.

 

(b)
Benefits: During your Employment, you shall be entitled to receive all benefits under any and all deferred compensation plans,
retirement plans, life, disability, health, accident and other insurance programs, automobile allowances, and similar employee benefit
plans and programs, sick leave, vacation time and paid time off (if any) that the Company elects in its sole discretion to provide from
time to time to its other executive officers (collectively referred to herein as the “Benefits”). However, we reserve the
right to terminate, reduce or otherwise amend any or all of the Benefits from time to time to the extent allowed by law, so long as such
action applies generally to all of our executive officers. Except as otherwise required by applicable law with respect to continued “COBRA”
group health care coverage and except as expressly required by the terms of the Company’s life, disability, health, accident and
other insurance programs and similar employee benefit plans and programs, your right to receive Benefits shall terminate upon the termination
of your Employment for any reason, except as otherwise provided herein. You shall be eligible to earn additional options to purchase
shares of the Company’s common stock and additional shares of the Company’s common stock under the Company’s incentive
plans. You shall also be eligible to receive additional grants of stock appreciation rights from time to time. However, the decision
to grant any such stock appreciation rights, and the amount and terms thereof, shall be in the sole and absolute discretion of the Compensation
Committee.

 

    	 

     

    

 

(c)
Expense Reimbursement: The Company will reimburse you for ordinary and necessary expenses incurred in the performance of your
duties, provided that such expenses are reasonable and are accounted for in accordance with the Company’s usual policies. Additionally,
you will be entitled to travel business class on any flights for Company business purposes longer than 3 hours, as well as a monthly
allowance of $800 to lease an automobile for your commute from Colorado Springs to Santa Fe.

 

(d)
Compensation Incentives: The Company shall formulate a set of short-term and long-term metrics to assist in measuring your performance
and set certain compensation awards based on such performance (“Incentives”).

 

(e)
Discretionary Bonus: During the term of your employment, you shall be eligible to receive one or more bonuses (“Discretionary
Bonuses”) relating to each fiscal year in recognition of your achievement of individual and Company goals established by the
Board of Directors from time to time. However, the decision to provide any Discretionary Bonuses and the amount and terms of any Discretionary
Bonuses, including the payment of cash, the issuance of equity in the Company, or a combination of both, shall be in the sole and absolute
discretion of the Board of Directors.

 

5.
Severance Compensation.

 

(a)
Definition of Accrued Obligations. For purposes of this Agreement, “Accrued Obligations” means (i) the portion
of your Base Salary that has accrued prior to any termination of your employment with the Company and has not yet been paid; (ii) to
the extent required by law and the Company’s policy, an amount equal to the value of your accrued unused vacation days, if applicable;
and (iii) the amount of any expenses properly incurred by you on behalf of the Company prior to any such termination and not yet reimbursed.
Your entitlement to any other compensation or benefit under any plan or policy of the Company, including but not limited to applicable
option and other equity incentive plans, shall be governed by and determined in accordance with the terms of such plans or policies,
except as otherwise specified in this Agreement.

 

(b)
Termination for Cause or By You. If your employment hereunder is terminated either by the Company for Cause (as defined below),
or by you, the Company will pay the Accrued Obligations to you within seven (7) days following the effective date of such termination
or such earlier date required by applicable law and shall have no further obligations to you hereunder. “Cause” means
that you have (i) been grossly negligent in the performance of your duties to the Company; (ii) been convicted of, or pleaded guilty
or nolo contendre, to a felony; (iii) committed a criminal act relating to your employment or the Company involving, in the good faith
judgment of the Board, fraud, or theft, but excluding any conviction which results solely from your title or position with the Company
and is not based on your personal conduct; (iv) breached any material provision of this Agreement or of any nondisclosure agreement between
you and the Company, as all of the foregoing may be amended prospectively from time to time; or (v) intentionally breached a material
provision of any code of conduct or ethics policy in effect at the Company, as all of the foregoing may be amended prospectively from
time to time.

 

    	 

     

    

 

(c)
Termination By the Company Without Cause, By You as a Result of Your Death or Disability, or After Change in Control. If your
employment hereunder is terminated by the Company without Cause, by the Company within the twelve (12) month period following a Change
in Control, or if your employment terminates as a result of your death or in the event that the Board of Directors determines that you
are unable to perform your duties as the Company’s Chief Executive Officer due to an accident, illness or other event or condition
which physically or mentally incapacitates you for a period of at least 45 consecutive days (“Disability”), then:
(i) the Company will pay the Accrued Obligations; (ii) the Company will pay you or your heirs a total amount equal to twelve (12) months
of your then current Base Salary, less applicable taxes and deductions; such payment to be made within thirty days (30) days after termination
of your employment, provided that you deliver to the Company your executed copy of the General Release of All Claims in the form attached
as Exhibit A (the “Release”); (iii) any and all unvested stock options and stock appreciation rights granted to you
by the Company shall vest in full, effective on the date of the Company’s receipt from you of the executed Release, and, if applicable,
shall thereafter be immediately exercisable by you or your heirs; and (iv) whether one or more Incentives have been satisfied shall be
determined on an annualized basis by the Board in good faith, and if such annualized determination satisfies an applicable Incentive,
you shall be entitled to a pro-rata portion of the applicable Incentive as determined by the Board, calculated based on the date of the
termination of your employment in relation to the applicable Incentive period. As used herein, the term “Change in Control”
shall mean (i) a merger or consolidation of the Company with or into another corporation or entity (other than a merger with a wholly-owned
subsidiary), whereby any Person or Persons acting in concert acquire(s) more than 50% of the outstanding stock of the Company, (ii) a
sale of all or substantially all of the assets of the Company, or (iii) a purchase or other acquisition of more than 50% of the outstanding
stock of the Company by one Person or by more than one Person acting in concert if the primary purpose is not to obtain financing for
the Company (as used herein, the term “Person” shall mean an individual, partnership, limited liability company, trust, estate,
association, corporation, or any other legal entity).

 

(d)
Release of Claims. Except in case of death or Disability, the Company shall not be obligated to provide you any of the compensation,
benefits or equity-related acceleration set forth in Section 5(c), other than Accrued Obligations, until you have (i) executed and delivered
to the Company the Release and (ii) resigned from the Board, if so requested by the Company.

 

(e)
No Other Payments or Benefits Owing. The payments and benefits set forth in this Section 5 shall be the sole amounts owing to
you as separation pay upon termination of your employment. You shall not be eligible for any other payments, including but not limited
to additional Base Salary payments, bonuses, commissions, or other forms of compensation or benefits, except as may otherwise be set
forth in this Agreement or other Company plan documents or award agreements with respect to plans in which you are a participant.

 

6.
Confidential Information. You shall at no time, either during your employment or after the termination of your employment for
any reason, use or disclose to any person, directly or indirectly, any confidential or proprietary information concerning the business
of the Company, including, without limitation, any business secret, trade secret, financial information, software, internal procedure,
business plan, marketing plan, pricing strategy or policy or customer list, except to the extent that such use or disclosure is (1) necessary
to the performance of your employment during the period that you are so employed, (2) required by applicable law or regulation or an
order of a court of competent jurisdiction, or (3) authorized in writing by the Company’s Board of Directors. The prohibition that
is contained in the preceding sentence shall not apply to any information that is or becomes generally available to the public other
than through a disclosure by you or by a person acting in concert with you. Within five days after the termination of your employment,
you shall return to the Company all memoranda, notes and other documents in your possession or control that relate to the confidential
information of the Company. You understand that nothing in this Section 6 shall be construed to prohibit you from reporting possible
violations of federal law or regulation to any governmental agency or entity, including but not limited to the Department of Justice,
the Securities and Exchange Commission, the Congress, and any agency Inspector General, or making other disclosures that are protected
under the whistleblower provisions of federal law or regulation. Upon the Company’s request, you agree to execute and deliver to
the Company any form of confidentiality agreement that the Company requires generally from its employees.

 

    	 

     

    

 

7.
Company Property: You agree that all designs, lists, books, files, reports, correspondence, computer databases and files, records,
supplies, services, computers, postage, telephones and other property and materials (“Company Materials”) used by,
prepared for or by, or made available to you while you are employed with the Company, shall be and shall remain the property of the Company.
Upon termination of your employment with the Company, all Company Materials shall be returned immediately to the Company, and you shall
not make or retain any copies thereof.

 

8.
Inventions/Work Product:

 

(a)
Work Product: You acknowledge and agrees that all writings, works of authorship, technology, inventions, discoveries, ideas and
other work product of any nature whatsoever that are created, prepared, produced, authored, edited, amended, conceived or reduced to
practice by you individually or jointly with others during the period of your employment by the Company and relating in any way to the
business or contemplated business, research or development of the Company (regardless of when or where the Work Product is prepared or
whose equipment or other resources is used in preparing the same) and all printed, physical and electronic copies, all improvements,
rights and claims related to the foregoing, and other tangible embodiments thereof (collectively, “Work Product”),
as well as any and all rights in and to copyrights, trade secrets, trademarks (and related goodwill), patents and other intellectual
property rights therein arising in any jurisdiction throughout the world and all related rights of priority under international conventions
with respect thereto, including all pending and future applications and registrations therefor, and continuations, divisions, continuations-in-part,
reissues, extensions and renewals thereof (collectively, “Intellectual Property Rights”), shall be the sole and exclusive
property of the Company.

 

(b)
Work Made for Hire; Assignment: You acknowledge that, by reason of being employed by the Company at the relevant times, to the
extent permitted by law, all of the Work Product consisting of copyrightable subject matter is “work made for hire” as defined
in 17 U.S.C. § 101 and such copyrights are therefore owned by the Company. To the extent that the foregoing does not apply, you
hereby irrevocably assign to the Company, for no additional consideration, your entire right, title and interest in and to all Work Product
and Intellectual Property Rights therein, including the right to sue, counterclaim and recover for all past, present and future infringement,
misappropriation or dilution thereof, and all rights corresponding thereto throughout the world. Nothing contained herein shall be construed
to reduce or limit the Company’s rights, title or interest in any Work Product or Intellectual Property Rights so as to be less
in any respect than that the Company would have had in the absence of this agreement.

 

(c)
Further Assurances; Power of Attorney. During and after your employment, you agree to reasonably cooperate with the Company to
(1) apply for, obtain, perfect and transfer to the Company the Work Product as well as an Intellectual Property Right in the Work Product
in any jurisdiction in the world, and (2) maintain, protect and enforce the same, including, without limitation, executing and delivering
to the Company any and all applications, oaths, declarations, affidavits, waivers, assignments and other documents and instruments as
shall be requested by the Company. You hereby irrevocably grant the Company a power of attorney to execute and deliver any such documents
on your behalf in your name and to do all other lawfully permitted acts to transfer the Work Product to the Company and further the transfer,
issuance, prosecution and maintenance of all Intellectual Property Rights therein, to the full extent permitted by law, if you do not
promptly cooperate with the Company’s request (without limiting the rights the Company shall have in such circumstances by operation
of law). The power of attorney is coupled with an interest and shall not be affected by your subsequent incapacity.

 

    	 

     

    

 

9.
Notices: Any notice, consent, request or other communications made or given in connection with this agreement shall be in writing
and shall be deemed to have been duly given when delivered or mailed by postage prepaid to those listed below at their following respective
addresses or at such other address as each may specify by notice to the other:

 

To
the Company:

 

Frank
Orzechowski

Chief
Financial Officer

Sigma
Labs, Inc.

3900
Paseo del Sol

Santa
Fe, NM 87507

 

To
you:

 

Mark
Ruport

 

10.
Entire Agreement: This agreement (and any separate confidentiality agreements that may be entered into between the Company and
you) constitutes the entire agreement of the Company and you relating to the terms and conditions of your Employment and supersedes all
prior oral and written understandings and agreements relating to such subject matter.

 

11.
Amendment and Termination: This agreement may be amended or terminated only pursuant to a writing executed by an authorized officer
of the Company and you.

 

12.
Section 409A.

 

(a)
This Agreement is intended to comply with Section 409A (“Section 409A”) of the Internal Revenue Code of 1986, as amended
(the “Code”). This Agreement shall be interpreted and administered to that end and, consistent with that objective
and notwithstanding any provision herein to the contrary, you and the Company agree to amend this Agreement, if necessary, in order to
avoid, if practicable, the imposition of any taxes, interest or penalties under Section 409A and in a manner to preserve the economic
benefits of this Agreement from your perspective. Further, no effect shall be given to any provision herein in a manner that reasonably
could be expected to give rise to adverse Section 409A tax consequences to you under any such provision. Notwithstanding any other provision
of this Agreement, payments provided under this Agreement may only be made upon an event and in a manner that complies with Section 409A
or an applicable exemption. Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to
an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible.
For purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments
to be made under this Agreement upon a termination of employment shall only be made upon a “separation from service” under
Section 409A.

 

(b)
Notwithstanding any other provision of this Agreement, if any payment or benefit provided to you in connection with you “separation
from service” within the meaning of Section 409A is determined to constitute “nonqualified deferred compensation” within
the meaning of Section 409A and you are determined to be a “specified employee” as defined in Section 409A(a)(2)(b)(i), then
such payment or benefit shall not be paid until the first payroll date to occur following the earlier of (a) the six-month anniversary
of the termination your employment or (b) your death (the “Specified Employee Payment Date”). The aggregate of any
payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to you in a lump sum on the Specified
Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

 

    	 

     

    

 

13.
Section 280G. In the event that it is determined that any payment or distribution of any type to or for your benefit made by the
Company, by any of its affiliates, by any person who acquires ownership or effective control or ownership of a substantial portion of
the Company’s assets (within the meaning of Code Section 280G or by any affiliate of such person, whether paid or payable or distributed
or distributable pursuant to the terms of this Agreement or otherwise (the “Total Payments”)), would be subject to
the excise tax imposed by Section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together
with any such interest or penalties, are collectively referred to as the “Excise Tax”), then such payments or distributions
or benefits shall be payable either (i) in full or (ii) as to the maximum value of such lesser amount as would result in no portion of
such payments or distributions or benefits being subject to the Excise Tax such that the Company shall receive the greater, on an after-tax
basis, of (i) or (ii) above. All mathematical determinations and all determinations of whether any of the Total Payments are parachute
payments that are required to be made under this Section 13 shall be made by a reputable independent audit firm experienced in such matters
(the “Accountants”), who shall provide their determination, together with detailed supporting calculations regarding
the amount of any relevant matters, both to the Company and to you. Unless you consent in writing, the Accountants may not be an audit
firm that is then providing services in any capacity to any person or entity that is acquiring the Company. Such determinations shall
be made by the Accountants using reasonable good faith interpretations of the Code. The Company shall pay the fees and costs of the Accountants
which are incurred in connection with this Section 13.

 

14.
Arbitration: Any dispute or controversy arising under this agreement relating to its interpretation or the breach hereof, including
the arbitrability of any such dispute or controversy (each, a “Disputed Matter”), shall be determined and settled
by arbitration in Santa Fe, New Mexico pursuant to the Rules of the American Arbitration Association in effect at the time the Disputed
Matter arises. Any award rendered herein shall be final and binding on each and all of the parties, and judgment may be entered thereon
in any court of competent jurisdiction. Notwithstanding the foregoing, the parties shall be entitled to seek injunctive relief in any
court of competent jurisdiction.

 

15.
Governing Law: This agreement shall be governed by and construed in accordance with Nevada law. In the event that any terms or
provisions of this agreement shall be held to be invalid or unenforceable, such invalidity or unenforceability shall not affect the validity
or enforceability of the remaining terms and provisions hereof. In the event of any judicial, arbitral or other proceeding between the
parties hereto with respect to the subject matter hereof, the prevailing party shall be entitled, in addition to all other relief, to
reasonable attorneys’ fees and expenses and court costs.

 

If
the foregoing terms are acceptable, please sign below and return this letter to me.

 

	Sigma
    Labs, Inc.	 	Employee
	 	 	 	 	 
	By	/s/
    Salvatore Battinelli	 	By	/s/
    Mark Ruport
	Name	 Salvatore
    Battinelli	 	Name	 Mark
    Ruport
	Title
    	Chairman
    of Compensation Committee	 	 	 

 

    	 

     

    

 

Exhibit
A

Form
of General Release

 

This
General Release of all Claims (this “Agreement”) is entered into on _________, 20__, by and between Sigma Labs, Inc., a Nevada
corporation (the “Company”), and Mark Ruport (the “Executive”).

 

In
accordance with Section 5 of the Amended and Restated Employment Agreement by and between the Company and the Executive, effective as
of January 1, 2021 (the “Employment Agreement”), in consideration of the compensation and benefits to which the Executive
is entitled pursuant to Section 5 of the Employment Agreement subject to the execution and non-revocation of this Agreement, the Executive
agrees as follows:

 

1.
Executive’s General Release and Waiver of Claims. In consideration of the terms and provisions of this Agreement, the
Executive hereby, generally and unconditionally, relieves, releases, remises, acquits, and forever discharges the Company and its
officers, directors, agents, and representatives (collectively, the “Released Company Parties”) of and from any and all
claims, demands, rights, actions, causes of action, suits, contracts, debts, controversies, expenses, liabilities, obligations,
damages, losses, expenses, penalties, costs and allegations of any kind and character whatsoever, whether legal, contractual,
statutory, administrative, or equitable in nature, or otherwise, whether known or unknown, suspected or unsuspected, direct or
indirect, absolute, fixed or contingent, that the Executive now owns, holds, has or claims to have, or owned at any time, held, had
or claimed to have had or may come to own, hold, have or claim to have against any of the Released Company Parties arising out of or
in connection with the Executive’s employment under the Employment Agreement.

 

The
release set forth above includes, without limitation, all claims, demands, causes of action, facts, transactions, occurrences, circumstances,
acts or omissions, or allegations of any kind and character whatsoever asserted by the Executive or which could have been asserted by
the Executive in connection with the Executive’s employment relationship with the Company, including any and all facts in any manner
arising out of, related or pertaining to or connected with those claims or with the terms of or value of any consideration paid to the
Executive in connection with his employment and relationship with, or termination of employment from, any of the Released Company Parties,
including, without limitation, any claims based on, related to or arising from federal, state or local laws (including, but not limited
to, the Age Discrimination in Employment Act, the Nevada Labor Code, the New Mexico Labor Code, Title VII of the Civil Rights Act of
1964, as amended, and the Fair Labor Standards Act) that prohibit employment discrimination on the basis of race, national origin, religion,
age, gender, marital status, pregnancy, handicap, perceived handicap, ancestry, sexual orientation, family or personal leave or of any
other form of discrimination, or from laws such as workers’ compensation laws, which provide rights and remedies for injuries sustained
in the workplace or from any common law claims of any kind, including, without limitation, contract, tort or property rights including,
but not limited to, breach of express or implied contract, breach of the implied covenant of good faith and fair dealing, tortious interference
with contract or current or prospective economic advantage, fraud, deceit, breach of privacy, misrepresentation, defamation, wrongful
termination, tortious infliction of emotional distress, loss of consortium, breach of fiduciary duty, violation of public policy and
any other common law claim of any kind whatsoever, any claims for severance pay, sick leave, family leave, vacation, life insurance,
bonuses, health insurance, disability or medical insurance or any other fringe benefit or compensation, and all rights or claims arising
under the Employment Retirement Income Security Act of 1974 (“ERISA”) or pertaining to ERISA regulated benefits (all collectively
defined as the “Released Executive Claims”).

 

    	 

     

    

 

The
Executive expressly waives all rights under Section 17.245 of the Nevada Revised Statutes, understanding and acknowledging the significance
of such specific waiver of Section 17.245, which reads as follows: “When a release or a covenant not to sue or not to enforce judgment
is given in good faith to one of two or more persons liable in tort for the same injury or the same wrongful death: (a) It does not discharge
any of the other tortfeasors from liability for the injury or wrongful death unless its terms so provide, but it reduces the claim against
the others to the extent of any amount stipulated by the release or the covenant, or in the amount of the consideration paid for it,
whichever is the greater; and (b) It discharges the tortfeasor to whom it is given from all liability for contribution and for equitable
indemnity to any other tortfeasor.” This release includes, without limitation, all claims which the Executive does not know or
suspect to exist in his favor at the time he signs this Agreement.

 

The
Executive acknowledges that he is knowingly and voluntarily waiving and releasing any rights he may have under the Age Discrimination
in Employment Act of 1967. The Executive also acknowledges that the consideration given for the waiver and release in this Agreement
is in addition to anything of value to which he was already entitled. The Executive further acknowledges that he has been advised by
this writing, as required by the Older Workers’ Benefit Protection Act, that:

 

	 	(a)	his
    waiver and release does not apply to any rights or claims that may arise after the date of their execution of this Agreement;
	 	 	 
	 	(b)	he
    should consult with an attorney prior to executing this Agreement;
	 	 	 
	 	(c)	he
    has at least twenty-one (21) days to consider whether to sign this Agreement (although he may, by his own voluntary choice, execute
    this Agreement earlier);
	 	 	 
	 	(d)	he
    has seven (7) days following his execution of this Agreement to revoke this Agreement;
	 	 	 
	 	 (e)	any
    revocation must be in writing, must be postmarked or personally delivered within this seven (7) day period to the Company’s
    attorneys, TroyGould PC, 1801 Century Park East, 16th Floor, Los Angeles, CA 90067, and must state, “I hereby revoke my acceptance
    of the Agreement”; and
	 	 	 
	 	(f)	this
    Agreement shall not be effective or enforceable until the seven-day revocation period has expired. If the last day of the revocation
    period is a Saturday, Sunday, or legal holiday, then the revocation period shall not expire until the next following day which is
    not a Saturday, Sunday, or legal holiday.

 

2.
Assumption of Risk Regarding Released Claims. The Executive acknowledges that there is a risk that, after execution of this Agreement,
he may discover, incur or suffer claims that were unknown or unanticipated at the time of this Agreement, including, but not limited
to, unknown or unanticipated claims that arise from, are based upon or are related to any facts underlying the Released Executive Claims,
which had they been known or more fully understood, may have affected his decision to execute this Agreement as it currently is written.
The Executive knowingly and expressly assumes the risk of these unknown and unanticipated claims and agrees that this Agreement and the
general release set forth within it apply to all such unknown, unanticipated or potential claims. Furthermore, it is the intention of
the Executive, by entering into this Agreement, to settle and release fully, finally and forever all Released Executive Claims, and any
and all claims that now exist, or may have at any time existed or shall come to exist in connection with the Executive’s employment
relationship with the Company, and the termination thereof. In furtherance of the parties’ intention, the release given within
this Agreement shall be and remain in effect as a full and complete release and discharge of the Released Executive Claims, and of any
related matters notwithstanding the discovery by the Executive of the existence of any additional or different claims or the facts relative
to any such claims.

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