Document:

WORLD SURVEILLANCE GROUP INC.

2013 RESTRICTED STOCK AGREEMENT

 

THIS AGREEMENT, made and entered into as of this ___ day of
___________, 201_, by and between WORLD SURVEILLANCE GROUP INC., a Delaware corporation (the “Company”), and _________________________
(the “Participant”),

 

WITNESSETH THAT:

 

WHEREAS, the Administrator (as defined in the Plan), acting
under the Company’s 2013 Equity Compensation Incentive Plan adopted by the Board of Directors on April 17, 2013 (the “Plan”),
has the authority to award restricted shares of the common stock, par value $0.00001 per share, of the Company (the “Common
Stock”) to employees, officers, directors, consultants and advisors of the Company (for purposes herein the term the “Company”
shall have the meaning ascribed to it in the Plan);

 

WHEREAS,
except where the context otherwise requires, the term “Company” shall include the parent and all present and
future subsidiaries, of the Company as defined in Sections 424(e) and (f) of the Internal Revenue Code of 1986, as amended, and
the regulations thereunder (the “Code”); and

 

WHEREAS, pursuant to the Plan the Administrator has determined
to make such an award to Participant on the terms and conditions and subject to the restrictions set forth in the Plan and this
Agreement, and Participant desires to accept such award;

 

NOW, THEREFORE, in consideration of the premises and mutual
covenants and agreements contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree
as follows:

 

1.           Restricted
Stock Award.  

 

(a)On the terms and conditions and subject to the restrictions,
including forfeiture, hereinafter set forth, the Company hereby awards to Participant, and Participant hereby accepts, a restricted
stock award (the “Award”) of ____________ shares (the “Restricted Shares”) of Common Stock.  The
Award is made effective as of the date hereof (the “Effective Date”).  The Restricted Shares shall be issued
in book-entry or stock certificate form in the name of Participant as of the Effective Date and delivered to Participant on the
Effective Date or as soon thereafter as practicable.  Participant shall take all such action as may be requested by the
Company to cause the Restricted Shares to be deposited with the Company, together with any executed stock powers and/or other instruments
of transfer reasonably requested by the Company, to be held by the Company in escrow for Participant’s benefit until such
time as the Restricted Shares are either forfeited by Participant to the Company or the restrictions thereon terminate as set forth
in this Agreement.

 

(b)Participant hereby represents
and warrants that Participant is acquiring the Restricted Shares under this Agreement for Participant’s own account and investment
and without any intent to resell or distribute the Restricted Shares. Participant shall no resell or distribute the Restricted
Shares after the Restricted Period except in compliance with all applicable federal and state securities laws.

 

    	 

    	 

    

 

2.           Vesting
and Forfeiture.

 

(a)The Restricted Shares shall be subject to a restricted
period (the “Restricted Period”) that shall commence on the Effective Date and shall end with respect to [___% of the
Restricted Shares, on the _____ anniversary of the Effective Date; with respect to ___% of the Restricted Shares, on the _____
anniversary of the Effective Date; and with respect to ___% of the Restricted Shares, on the _____ anniversary of the Effective
Date.]

 

(b) The Restricted Shares shall
be subject to being forfeited by Participant to the Company as provided in this Agreement, and Participant may not sell, assign,
transfer, discount, exchange, pledge or otherwise encumber or dispose of any of the Restricted Shares unless the restrictions applicable
to the Restricted Shares under this Agreement have terminated in accordance with the provisions of this Agreement or the Plan.

 

(c)If Participant continues to serve the
Company in the capacity of an employee, officer, director, consultant or advisor (a “Business Relationship”) through
the Restricted Period, the restrictions applicable hereunder to the Restricted Shares shall terminate, and as soon as practicable
after the end of the Restricted Period for any of the Restricted Shares, together with any dividends or other distributions with
respect to such shares then being held by the Company pursuant to the provisions of this Agreement, shall be delivered to Participant
free of such restrictions.

 

(d)If Participant’s Business
Relationship with the Company terminates during the Restricted Period by reason of Participant’s death or Disability (as
defined in Section 2(h) hereof), the restrictions applicable hereunder to all Restricted Shares shall terminate, and as soon as
practicable after such termination of the Business Relationship, the Restricted Shares, together with any dividends or other distributions
with respect to such shares then being held by the Company pursuant to the provisions of this Agreement, shall be delivered to
Participant (or in the event of Participant’s death, to Participant’s estate) free of such restrictions. 

 

(e) If Participant’s Business
Relationship with the Company terminates during the Restricted Period for any reason other than Participant’s death or Disability
or for Cause (as defined below), then on the date of such termination of the Business Relationship (the “No Cause Forfeiture
Date”) all of the Restricted Shares still subject to vesting restrictions hereunder shall be forfeited by Participant and
promptly (but in no event later than the fifth day thereafter) be transferred to the Company at no cost to the Company, unless
prior to the No Cause Forfeiture Date the Administrator, acting in its absolute discretion, terminates the restrictions applicable
hereunder to all or a portion of the Restricted Shares still subject to restrictions hereunder.  In connection with those
Restricted Shares not subject to vesting restrictions hereunder, promptly following the No Cause Forfeiture Date, or if the Administrator
so terminates any vesting restrictions applicable hereunder to any of the Restricted Shares, then as soon as practicable after
the No Cause Forfeiture Date, such Restricted Shares no longer subject to any restrictions hereunder together with any dividends
or other distributions with respect to such shares then being held by the Company pursuant to the provisions of this Agreement,
shall be delivered to Participant (or in the event of Participant’s death, to Participant’s estate) free of such restrictions.

 

    	 

    	 

    

 

(f) If Participant’s Business Relationship
with the Company terminates during the Restricted Period for Cause, then on the date of such termination of the Business Relationship
(the “Cause Forfeiture Date”), all of the Restricted Shares, including Restricted Shares as to which vesting restrictions
had already terminated, shall be forfeited by Participant and promptly (but in no event later than the fifth day thereafter) be
transferred to the Company at no cost to the Company.  

 

(g)  If a Change in Control (as defined in Section
2(h) hereof) occurs during the Restricted Period and while Participant has a Business Relationship with the Company, the restrictions
applicable hereunder to [accelerated vesting percentage, if any] of the Restricted Shares shall terminate and such Restricted
Shares (and/or any successor securities or other property attributable to the Restricted Shares that may result from the Change
in Control), together with any dividends or other distributions with respect to such shares then being held by the Company pursuant
to the provisions of this Agreement, shall be delivered to Participant free of such restrictions, provided, however, that the restrictions
shall continue after the closing of the Change of Control as to the remainder of the Restricted Shares subject to this Agreement
at the same rate and until the same dates as in effect prior to the Change of Control as long as the Participant continuously maintains
a Business Relationship with the Company through the applicable restriction dates.

 

(h)For the purposes of this Agreement:  (i)
the “Disability” of Participant shall mean the “permanent and total disability” of Participant within the
meaning of Section 22(e)(3) of the Code, as determined by the Administrator in its discretion; (ii) transfers of Business Relationships
without interruption of service between or among the Company and its Subsidiaries shall not be considered a termination of the
Business Relationship and the change of form of the Business Relationship without interruption of service to the Company shall
not be considered a termination of the Business Relationship; (iii) a “Change in Control” shall be deemed to have occurred
upon the consolidation with or the acquisition by another entity of the Company in a merger or other reorganization in which the
holders of the outstanding voting stock of the Company immediately preceding the consummation of such event shall, immediately
following such event, hold, as a group, less than a majority of the voting securities of the surviving or successor entity or its
ultimate parent, or in the event of a sale or all or substantially all of the Company’s assets; and (iv) “Cause”
means in the good faith determination of the Company, Participant has (A) committed gross negligence, dishonesty or willful malfeasance
in the performance of the Participant’s work or duties; (B) committed a breach of fiduciary duty or a breach of any non-competition,
non-solicitation or confidentially obligations to the Company; (C) failed on a substantial and continuing basis, after written
notice of such failure, to render services to the Company in accordance with the terms or requirements of Participant’s Business
Relationship; (D) been convicted of, or pleaded “guilty” or “no contest” to, any misdemeanor relating to
the affairs of the Company or any felony; (E) disregarded the material rules or material policies of the Company which has not
been cured within 15 days after written notice thereof from the Company; or (F) engaged in intentional acts that have generated
material adverse publicity toward or about the Company.

 

    	 

    	 

    

 

3.           Rights
as Shareholder.  Subject to the provisions of this Agreement, upon the issuance of the Restricted Shares to Participant,
Participant shall become the owner thereof for all purposes and shall have all rights as a stockholder, including voting rights
and the right to receive dividends and distributions, with respect to the Restricted Shares.  If the Company shall pay
or declare a dividend or make a distribution of any kind, whether due to a reorganization, recapitalization or otherwise, with
respect to the shares of Company common stock constituting the Restricted Shares, then the Company shall pay or make such dividend
or other distribution with respect to the Restricted Shares; provided, however, that the cash, stock or other securities
and other property constituting such dividend or other distribution shall be held by the Company subject to the restrictions applicable
hereunder to the Restricted Shares until the Restricted Shares are either forfeited by Participant and transferred to the Company
or the restrictions thereon terminate as set forth in this Agreement.  If the Restricted Shares with respect to which
such dividend or distribution was paid or made are forfeited by Participant pursuant to the provisions hereof, then Participant
shall not be entitled to receive such dividend or distribution and such dividend or distribution shall likewise be forfeited and
transferred to the Company.  If the restrictions applicable to the Restricted Shares with respect to which such dividend
or distribution was paid or made terminate in accordance with the provisions of this Agreement, then Participant shall be entitled
to receive such dividend or distribution with respect to such shares, without interest, and such dividend or distribution shall
likewise be delivered to Participant.

 

4.           Withholding
Taxes.

 

(a) Participant may elect pursuant to Section 83(b)
of the Internal Revenue Code of 1986, within 30 days of the Effective Date and on notice to the Company and provision to the Company
of a fully executed copy of the election form, to realize income for federal income tax purposes equal to the fair market value
of the Restricted Shares on the Effective Date.  In such event, Participant shall make arrangements satisfactory to the
Company to pay in the year of the Award any federal, state or local taxes required to be withheld or paid with respect to such
shares.  Such arrangements may include, to the extent such arrangements are acceptable to the Company and do not provide
for tax withholding in amounts in excess of the minimum withholding requirements contemplated by SFAS 123(R), the transfer of the
Restricted Shares or other shares of Common Stock to the Company for application to satisfy such withholding requirements on the
basis of the Fair Market Value (as defined in the Plan) of such shares on the date of transfer to the Company.  If Participant
fails to make such payments, then any provision of this Agreement to the contrary notwithstanding, the Company shall, to the extent
permitted by law, have the right to deduct from any payments of any kind otherwise due from the Company to or with respect to Participant,
whether or not pursuant to this Agreement, or the Plan and regardless of the form of payment, any federal, state or local taxes
of any kind required by law to be withheld with respect to the Restricted Shares.

 

    	 

    	 

    

 

(b)  If no election is made by Participant pursuant
to Section 4(a) hereof, then upon the termination of the restrictions applicable hereunder to the Restricted Shares, Participant
(or in the event of Participant’s death, the administrator or executor of Participant’s estate) will pay to the Company,
or make arrangements satisfactory to the Company regarding payment of, any federal, state or local taxes of any kind required by
law to be withheld or paid with respect to the Restricted Shares.  Such arrangements may include, to the extent such
arrangements are acceptable to the Company and do not provide for tax withholding in amounts in excess of the minimum withholding
requirements contemplated by SFAS 123(R), the transfer of the Restricted Shares or other shares of Common Stock to the Company
for application to satisfy such withholding requirements on the basis of the Fair Market Value (as defined in the Plan) of such
shares on the date of transfer to the Company.  If Participant (or in the event of Participant’s death, the administrator
or executor of Participant’s estate) fails to make such payments, then any provision of this Agreement to the contrary notwithstanding,
the Company shall, to the extent permitted by law, have the right to deduct from any payments of any kind otherwise due from the
Company to or with respect to Participant, whether or not pursuant to this Agreement, or the Plan and regardless of the form of
payment, any federal, state or local taxes of any kind required by law to be withheld with respect to the Restricted Shares.

 

(c)Participant and his or her successor
will be responsible for all income and other taxes payable as a result of the grant or vesting of the Restricted Shares or otherwise
in connection with this Agreement.   The Company is not required to provide any gross-up or other tax assistance herewith.
Participant acknowledges that it is Participant’s sole responsibility, and not the Company’s, to file a timely election
under Section 83(b), even if the Participant requests the Company or its representatives to make such filing on Participant’s
behalf. Participant is relying solely on Participant’s advisors with respect to the decision as to whether or not to file
a Section 83(b) election.

 

(d)Participant acknowledges that (i)
he or she was free to use professional advisors of his or her choice in connection with this Agreement and has received advice
from professional advisors of his or her choice in connection with this Agreement, understands its import and meaning, and is entering
into this Agreement freely and without coercion or duress; and (ii) he or she has not received and is not relying upon any advice,
representations or assurances made by or on behalf of the Company or any Company Affiliate or any employee of or counsel to the
Company regarding any tax or other effects or implications of the Restricted Shares or other matters contemplated by this Agreement.

 

    	 

    	 

    

 

(e)No representations or promises are
made to Participant regarding the value of the Restricted Shares or the Company’s business prospects. Participant acknowledges
that information about investment in the Company’s stock, including financial information and related risks, is contained
in the Company’s Sec reports of Form 10-Q and Form 10-K, which are available for Participant’s review at any time before
Participant’s acceptance of this Agreement or at any time during Participant’s Business Relationship with the Company.
Further, Participant understands that the Company does not provide tax or investment advice and acknowledges the Company’s
recommendation that Participant consult with independent specialists regarding such matters. Sale or other transfer of the Company’s
stock may be limited by and subject to the Company’s policies as well as applicable securities laws and regulations.

 

5.           Reclassification
of Shares.  In case of any consolidation or merger of another corporation into the Company in which the Company is
the surviving corporation and in which there is a reclassification or change (including the right to receive cash or other property)
of the Restricted Shares (other than a change in par value, or from par value to no par value, or as a result of a subdivision
or combination, but including any change in such shares into two or more classes or series of shares), the Administrator may provide
that payment of the Restricted Shares shall take the form of the kind and amount of shares of stock and other securities (including
those of any new direct or indirect parent of the Company), property, cash or any combination thereof receivable upon such consolidation
or merger. No fractional shares shall be issued, and any fractional shares resulting from any adjustments shall be eliminated.

  

6.           Effect
on Business Relationship.  Nothing contained in this Agreement shall confer upon Participant the right to continue
its Business Relationship with the Company, or affect any right that the Company may have to terminate the Business Relationship
of Participant.

 

7.           Legend.  Any
certificate representing the Restricted Shares shall conspicuously set forth on the face or back thereof, in addition to any legends
required by applicable law or other agreement, a legend in substantially the following form:

 

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED
PURSUANT TO THE TERMS OF THE WORLD SURVEILLANCE GROUP INC. 2013 EQUITY COMPENSATION INCENTIVE PLAN AND MAY NOT BE SOLD, ASSIGNED,
TRANSFERRED, DISCOUNTED, EXCHANGED, PLEDGED OR OTHERWISE ENCUMBERED OR DISPOSED OF IN ANY MANNER, EXCEPT AS SET FORTH IN THE TERMS
OF THE AGREEMENT EMBODYING THE AWARD OF SUCH SHARES DATED _______________. A COPY OF SUCH AGREEMENT IS ON FILE IN THE OFFICE OF
THE COMPANY.

 

8.           Assignment.  The
Company may assign all or any portion of its rights and obligations under this Agreement.  The Award, the Restricted
Shares (until the restrictions lapse as to shares of Restricted Shares at the dates set forth above) and the rights and obligations
of Participant under this Agreement may not be sold, assigned, transferred, discounted, exchanged, pledged or otherwise encumbered
or disposed of by Participant other than to the Company under the terms hereof or by will or the laws of descent and distribution.
If during the Restricted Period, Participant assigns, pledges, transfers or otherwise disposes of the Restricted Shares, voluntarily
or involuntarily, except as permitted by this Agreement, Participant shall lose all rights to the Restricted Stock, and all Restricted
Stock shall promptly be surrendered to the Company.

 

    	 

    	 

    

 

9.           Binding
Effect.  This Agreement shall be binding upon and inure to the benefit of (i) the Company and its successors and
assigns, and (ii) Participant, and Participant’s heirs, devisees, executors, administrators and personal representatives.

 

10.           Amendment.  This
Agreement may be amended or terminated at any time by an instrument in writing to such effect executed by both parties (either
in writing or by electronic transmission).

 

11.           Notices.  All
notices required or permitted to be given or made under this Agreement shall be in writing and shall be deemed to have been duly
given or made if (i) delivered personally, (ii) transmitted by first class registered or certified United States mail, postage
prepaid, return receipt requested, (iii) sent by prepaid overnight courier service, or (iv) sent by telecopy or facsimile transmission,
answer back requested, to the person who is to receive it at the address that such person has theretofore specified by written
notice delivered in accordance herewith.  Such notices shall be effective (i) if delivered personally or sent by courier
service, upon actual receipt by the intended recipient, (ii) if mailed, upon the earlier of five days after deposit in the mail
or the date of delivery as shown by the return receipt therefore, or (iii) if sent by telecopy or facsimile transmission, when
the answer back is received.  The Company or Participant may change, at any time and from time to time, by written notice
to the other, the address that the Company or Participant had theretofore specified for receiving notices.  Until such
address is changed in accordance herewith, notices under this Agreement shall be delivered or sent (i) to Participant at Participant’s
address as set forth in the records of the

 Company, or (ii)
to the Company at the principal executive offices of the Company clearly marked “Attention: General Counsel”.

 

12.           Governing
Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without
regard to its principles of conflict of laws.

 

13.           Severability.  If
any provision of this Agreement is held to be unenforceable, this Agreement shall be considered divisible and such provision shall
be deemed inoperative to the extent it is deemed unenforceable, and in all other respects this Agreement shall remain in full force
and effect; provided, however, that if any such provision shall be deemed to be so limited and shall be enforceable by limitation
thereof, then the provision shall be so limited and shall be enforceable to the maximum extent permitted by applicable law.

 

14.           Further
Assurances.  The parties agree to execute such additional instruments and to take all such further action as may
be reasonably necessary to carry out the intent and purposes of this Agreement.

 

    	 

    	 

    

 

15.           Entire
Agreement.  This Agreement and the Plan set forth the entire agreement between the parties with respect to the subject
matter hereof, and supersede all prior agreements and understandings, whether written or oral, between the parties with respect
to the subject matter hereof.

 

16.           Subject
to Plan.  The Award, the Restricted Shares and this Agreement are subject to all of the terms and conditions of the
Plan as amended from time to time.  In the event of any conflict between the terms and conditions of the Plan and those
set forth in this Agreement, the terms and conditions of the Plan shall control. Capitalized terms not defined in this Agreement
shall have those meanings provided in the Plan.

 

17.           Counterparts.  This
Agreement may be executed by the parties hereto in any number of counterparts, each of which shall be deemed an original, and all
of which shall constitute one and the same agreement.

 

18.           Descriptive
Headings.  The descriptive headings herein are inserted for convenience of reference only, do not constitute a part
of this Agreement, and shall not affect in any manner the meaning or interpretation of this Agreement.

 

19.           References.  The
words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder” and
words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited.

 

[Remainder of Page Intentionally Left Blank]

 

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the Company and Participant have executed
this Agreement as of the date first written above.

 

	 	WORLD SURVEILLANCE GROUP INC.
	 	 	 
	 	 	 
	 	By:  	 
	 	Name:	 
	 	Title:  	 
	 	 	 

 

	 	PARTICIPANT
	 	 
	 	 
	 	Participant Signature
	 	 
	 	 
	 	Participant Printed Name

 

 

    	 

    	 

    

 

STOCK POWER AND ASSIGNMENT

SEPARATE FROM CERTIFICATE

 

FOR VALUE RECEIVED and pursuant to that certain World Surveillance
Group Inc. Restricted Stock Agreement dated as of _____________ (the “Agreement”), the undersigned Participant hereby
sells, assigns and transfers unto World Surveillance Group Inc., __________ shares of the Common Stock, $0.00001 par value per
share, of World Surveillance Group Inc., a Delaware corporation (the “Company”), standing in the undersigned’s
name on the books of the Company, and does hereby irrevocably constitute and appoint the Secretary of the Company as the undersigned’s
attorney-in-fact, with full power of substitution, to transfer said stock on the books of the Company.  THIS ASSIGNMENT
MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT.

 

	Dated:	 	 	 
	 	 	 	 
	 	PARTICIPANT:	 	 
	 	 	 	 

 

 

	 	 	 
	 	 	 	 
	 	Name Printed:WORLD SURVEILLANCE GROUP INC.

 

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

To:

 

In accordance with the 2013 Equity Compensation
Incentive Plan (the “Plan”) of World Surveillance Group Inc. (the “Company”), and resolutions adopted by
the Board of Directors, the Company hereby is providing to you (the “Participant”) on _____________ (the “Effective
Date”) an award to receive ______________restricted stock units (“RSUs”) pursuant to this Restricted Stock Unit
Award Agreement (the “Agreement”). Each RSU represents the right to receive one share of common stock, par value $0.00001
per share, of the Company (the “Common Stock”) as compensation for your service as an employee, officer, director,
consultant or advisor (a “Business Relationship”) with the Company (which for purposes herein shall include World Surveillance
Group Inc., and any present or future subsidiary corporations of World Surveillance Group Inc., as defined in Section 424(f) of
the Internal Revenue Code of 1986, as amended (the “Code”), and any present or future parent corporation of World Surveillance
Group Inc., as defined in Section 424(e) of the Code, and any other entity in which the Company has a direct or indirect significant
interest, as determined by the Administrator in its sole discretion).

 

Capitalized terms used in this Agreement
and not otherwise defined herein shall have the respective meanings ascribed to them in the Plan.

 

The RSUs have been awarded to you upon
the following terms and conditions:

 

1. Rights of the Participant
with Respect to the RSUs

 

(a)
No Shareholder Rights. The rights of Participant with respect to the RSUs shall remain forfeitable at all times
prior to the date on which such rights become vested, and the restrictions with respect to the RSUs lapse, in accordance with the
terms hereof, except as set forth in Section 3(e). Participant shall have no rights as a stockholder with respect to any shares
of Common Stock subject to this Restricted Stock Unit Agreement unless and until such time as all restrictions on such RSUs lapse
and a certificate representing the underlying shares of Common Stock is duly issued and delivered to the Participant. This award
of RSUs is unfunded and even as a holder of vested RSUs, Participant shall be considered an unsecured creditor of the Company with
respect to the Company’s obligation, if any, to distribute shares hereunder. Except as is expressly provided in the
Plan with respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar
rights for which the record date is prior to such issuance of the underlying shares of Common Stock.

 

    	 

    	 

    

 

(b) Conversion
of Restricted Stock Units; Issuance of Common Stock. No shares of Common Stock shall be issued to Participant prior to
the date on which the RSUs vest, and the restrictions with respect to the RSUs lapse, in accordance with Section 2 or 3. Neither
this Section 1(b) nor any action taken pursuant to or in accordance with this Section 1(b) shall be construed to create a trust
of any kind. After any RSUs vest pursuant to Section 2 or 3, the Company shall promptly cause shares of Common Stock to be issued
either by issuance of a stock certificate or in book-entry form, registered in Participant's name or in the name of Participant's
legal representatives, beneficiaries or heirs, as the case may be, in payment of such vested whole RSUs. No shares of Common Stock
shall be issued in connection with any fractional RSUs.

 

2. Early Vesting Upon Change of Control. Subject
to the other terms and conditions set forth herein, upon the effective date of a Change in Control, [accelerated vesting percentage,
if any] of the RSUs shall become immediately and unconditionally vested, and the restrictions with respect to all of such RSUs
shall lapse, provided, however, that the restrictions shall continue after the closing of the Change of Control as to the
remainder of the RSUs subject to this Agreement at the same rate and until the same dates as in effect prior to the Change of Control
as long as the Participant continuously maintains a Business Relationship with the Company through the applicable restriction dates.
For purposes of this Agreement, a "Change in Control" shall be deemed to have occurred upon the consolidation with or
the acquisition by another entity of the Company in a merger or other reorganization in which the holders of the outstanding voting
stock of the Company immediately preceding the consummation of such event shall, immediately following such event, hold, as a group,
less than a majority of the voting securities of the surviving or successor entity or its ultimate parent, or in the event of a
sale or all or substantially all of the Company’s assets.

 

3. Vesting Upon Termination of
Business Relationship.

 

(a)Vesting. The RSUs shall vest with respect
to [___% of the shares of Common Stock subject to the RSUs on the _____ anniversary of the Effective Date; with respect to ___%
of the shares of Common Stock subject to the RSUs on the _____ anniversary of the Effective Date; and with respect to ___% of the
shares of Common Stock subject to the RSUs on the _____ anniversary of the Effective Date (the “Vesting Period”).]

 

(b)Termination of Vesting.
If Participant continues to have a Business Relationship with the Company through the Vesting Period, the restrictions applicable
hereunder to the RSUs shall terminate, and as soon as practicable after the end of the Vesting Period for any of the RSUs, a number
of shares of Common Stock equal to the number of such RSUs shall be issued and delivered to Participant free of any restrictions.

 

(c) Death or Disability.
If Participant’s Business Relationship with the Company terminates during the Vesting Period by reason of Participant’s
death or Disability (as defined in Section 3(g) hereof), the restrictions applicable hereunder to the RSUs shall terminate, and
as soon as practicable after such termination of the Business Relationship, a number of shares of Common Stock equal to the number
of such RSUs shall be issued and delivered to Participant (or in the event of Participant’s death, to Participant’s
estate) free of any restrictions.

 

    	 

    	 

    

 

(d)  No Cause.
If Participant’s Business Relationship with the Company terminates during the Vesting Period for any reason other than Participant’s
death or Disability or for Cause (as defined in Section 3(g) below), then on the date of such termination of the Business Relationship
(the “No Cause Forfeiture Date”), all of the RSUs still subject to vesting restrictions hereunder shall be forfeited
by Participant at no cost to the Company unless prior to the No Cause Forfeiture Date the Administrator, acting in its absolute
discretion, terminates the restrictions applicable hereunder to all or a portion of the RSUs still subject to restrictions hereunder.  In
connection with those RSUs not subject to vesting restrictions hereunder on the No Cause Forfeiture Date, or if the Administrator
so terminates any vesting restrictions applicable hereunder to any of the RSUs, then as soon as practicable after the No Cause
Forfeiture Date, a number of shares of Common Stock equal to the number of such RSUs shall be issued and delivered to Participant
free of any restrictions.

 

(e)  Cause.
If Participant’s Business Relationship with the Company terminates during the Vesting Period for Cause, then on the date
of such termination of the Business Relationship (the “Cause Forfeiture Date”), all of the RSUs subject to this Agreement,
including any shares of Common Stock that were issued in connection with RSUs as to which vesting restrictions had already terminated,
shall be forfeited by Participant and such shares of Common Stock (or the economic value realized or obtained with respect to such
RSUs by Participant, measured at the date such RSUs vested) shall be promptly (but in no event later than the fifth day following
such Cause Forfeiture Date) transferred to the Company at no cost to the Company.

 

(f)Change
in Business Relationship. For purposes hereof, with respect to Participants who are employees of the Company, employment
shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing
by the Company and if such written approval contractually obligates the Company to continue the employment of the Participant after
the approved period of absence; in the event of such an approved leave of absence, vesting of this award of RSUs shall be suspended
(and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written
approval of the leave of absence. For purposes hereof, a termination of employment followed by another Business Relationship (for
example, post-employment consulting service) shall be deemed a termination of the Business Relationship with all vesting to cease
unless the Company enters into a written agreement related to such other Business Relationship in which it is specifically stated
that there is no termination of the Business Relationship under this Restricted Stock Unit Agreement. This Agreement shall not
be affected by any change of Business Relationship within or among the Company and its Subsidiaries so long as the Participant
continuously remains in a Business Relationship with the Company or any Subsidiary.

 

    	 

    	 

    

 

(g)Definitions.
For the purposes of this Agreement:  (i) the “Disability” of Participant shall mean the “permanent
and total disability” of Participant within the meaning of Section 22(e)(3) of the Code, as determined by the Administrator
in its discretion; and (ii) “Cause” means in the good faith determination of the Company, Participant has (A) committed
gross negligence, dishonesty or willful malfeasance in the performance of the Participant’s work or duties; (B) committed
a breach of fiduciary duty or a breach of any non-competition, non-solicitation or confidentially obligations to the Company; (C)
failed on a substantial and continuing basis, after written notice of such failure, to render services to the Company in accordance
with the terms or requirements of Participant’s Business Relationship; (D) been convicted of, or pleaded “guilty”
or “no contest” to, any misdemeanor relating to the affairs of the Company or any felony; (E) disregarded the material
rules or material policies of the Company which has not been cured within 15 days after written notice thereof from the Company;
or (F) engaged in intentional acts that have generated material adverse publicity toward or about the Company.

 

4. Adjustments to Restricted
Stock Units. In the event of any change in or affecting the outstanding shares of Common Stock of the Company by reason
of a stock dividend or split, merger or consolidation, or various other events, adjustments will be made as appropriate in connection
with the RSUs as contemplated in the Plan.

 

5. Income Tax Matters.
The Company shall have the right, in connection with the vesting of RSUs under this Agreement, (i) to deduct from any payment otherwise
due by the Company to Participant or any other person receiving delivery of cash or shares of Common Stock an amount equal to any
taxes required to be withheld or paid by law with respect to such delivery, (ii) to require Participant or any other person
receiving such delivery to pay to the Company an amount sufficient to provide for any such taxes so required to be withheld or
paid, or (iii) to sell such number of shares of Common Stock otherwise deliverable as may be necessary so that the net proceeds
of such sale shall be an amount sufficient to provide for any such taxes so required to be withheld or paid. Notwithstanding anything
to the contrary herein, unless the tax withholding or payment obligations of the Company are satisfied, the Company shall have
no obligation to deliver to Participant a certificate for shares of Common Stock in respect of Participant’s vested RSUs.
The Participant acknowledges that there may be adverse tax consequences upon settlement of the RSUs or disposition of the underlying
shares of Common Stock received in connection therewith and that Participant should consult a tax advisor prior to such settlement
or disposition.

 

6. Miscellaneous.

 

(a)This Agreement
does not confer on Participant any right with respect to the continuance of any Business Relationship with the Company, nor will
it interfere in any way with the right of the Company to terminate such Business Relationship at any time.

 

(b)The Company
shall not be required to deliver any shares of Common Stock upon vesting of any RSUs until the requirements of any federal or state
securities laws, rules or regulations or other laws or rules (including the rules of any securities exchange) as may be determined
by the Company to be applicable are satisfied.

 

    	 

    	 

    

 

(c)The Company
may assign all or any portion of its rights and obligations under this Agreement and the RSUs. The rights and obligations of Participant
under this Agreement may not be sold, assigned, transferred, discounted, exchanged, pledged or otherwise encumbered or disposed
of by Participant other than to the Company under the terms hereof or by will or the laws of descent and distribution (until the
restrictions lapse on RSUs at the dates set forth above and stock certificates for the underlying shares of Common Stock have been
delivered to the Participant). If Participant assigns, pledges, transfers or otherwise disposes of the RSUs or the underlying shares
of Common Stock, voluntarily or involuntarily, except as permitted by this Agreement, Participant shall lose all rights to the
RSUs and the underlying shares of Common Stock.

 

(d)This Agreement shall be binding upon
and inure to the benefit of (i) the Company and its successors and assigns, and (ii) Participant, and Participant’s heirs,
devisees, executors, administrators and personal representatives.

 

(e)This Agreement may be amended or
terminated at any time by an instrument in writing to such effect executed by both parties (either in writing or by electronic
transmission).

 

(f)All notices required or permitted
to be given or made under this Agreement shall be in writing and shall be deemed to have been duly given or made if (i) delivered
personally, (ii) transmitted by first class registered or certified United States mail, postage prepaid, return receipt requested,
(iii) sent by prepaid overnight courier service, or (iv) sent by telecopy or facsimile transmission, answer back requested, to
the person who is to receive it at the address that such person has theretofore specified by written notice delivered in accordance
herewith.  Such notices shall be effective (i) if delivered personally or sent by courier service, upon actual receipt
by the intended recipient, (ii) if mailed, upon the earlier of five days after deposit in the mail or the date of delivery as shown
by the return receipt therefore, or (iii) if sent by telecopy or facsimile transmission, when the answer back is received.  The
Company or Participant may change, at any time and from time to time, by written notice to the other, the address that the Company
or Participant had theretofore specified for receiving notices.  Until such address is changed in accordance herewith,
notices under this Agreement shall be delivered or sent (i) to Participant at Participant’s address as set forth in the records
of the

 Company, or (ii)
to the Company at the principal executive offices of the Company clearly marked “Attention: General Counsel”.

 

(g)This Agreement shall be governed
by and construed in accordance with the laws of the State of Delaware without regard to its principles of conflict of laws.

 

(h)If any provision of this Agreement
is held to be unenforceable, this Agreement shall be considered divisible and such provision shall be deemed inoperative to the
extent it is deemed unenforceable, and in all other respects this Agreement shall remain in full force and effect; provided,
however, that if any such provision shall be deemed to be so limited and shall be enforceable by limitation thereof, then the
provision shall be so limited and shall be enforceable to the maximum extent permitted by applicable law.

 

    	 

    	 

    

 

(i)The parties agree to execute such
additional instruments and to take all such further action as may be reasonably necessary to carry out the intent and purposes
of this Agreement.

 

(j)This Agreement and the Plan set forth
the entire agreement between the parties with respect to the subject matter hereof, and supersede all prior agreements and understandings,
whether written or oral, between the parties with respect to the subject matter hereof.

 

(k)The Agreement, the RSUs and the underlying
shares of Common Stock are subject to all of the terms and conditions of the Plan as amended from time to time, which is incorporated
herein in its entirety.  In the event of any conflict between the terms and conditions of the Plan and those set forth
in this Agreement, the terms and conditions of the Plan shall control.

 

(l)This Agreement may be executed by
the parties hereto in any number of counterparts, each of which shall be deemed an original, and all of which shall constitute
one and the same agreement.

 

(m)The descriptive headings herein are
inserted for convenience of reference only, do not constitute a part of this Agreement, and shall not affect in any manner the
meaning or interpretation of this Agreement.

 

(n)The words “this Agreement,”
“herein,” “hereof,” “hereby,” “hereunder” and words of similar import refer to
this Agreement as a whole and not to any particular subdivision unless expressly so limited.

 

[Remainder of Page Intentionally Left Blank]

 

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the Company and Participant have executed
this Agreement as of the date first written above.

 

	WORLD SURVEILLANCE GROUP INC.
	 	 	 
	By: 	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	 	 	 
	 	 	 
	PARTICIPANT
	 	 	 
	 	 	 
	 	 	 
	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Address:

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