Document:

Exhibit 10.5

      

  

   

    

  
    Cue Health Inc.

     

    2021 STOCK INCENTIVE PLAN

     

    1.          Purpose

     

    The purpose of this 2021 Stock Incentive Plan (the “Plan”) of Cue Health Inc., a Delaware corporation (the “Company”), is to advance the interests of
      the Company’s stockholders by enhancing the Company’s ability to attract, retain and motivate persons who are expected to make important contributions to the Company and by providing such persons with equity ownership opportunities and
      performance-based incentives that are intended to better align the interests of such persons with those of the Company’s stockholders.  Except where the context otherwise requires, the term “Company” shall include any of the Company’s present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Internal Revenue Code of 1986, as
      amended, and any regulations thereunder (the “Code”) and any other business venture (including, without limitation, joint venture or
      limited liability company) in which the Company has a controlling interest, as determined by the Board of Directors of the Company (the “Board”).

     

    2.          Eligibility

     

    All of the Company’s employees, officers and directors, as well as consultants and advisors to the Company (as the terms
      consultants and advisors are defined and interpreted for purposes of Form S-8 under the Securities Act of 1933, as amended (the “Securities Act”),
      or any successor form) are eligible to be granted Awards (as defined below) under the Plan.  Each person who is granted an Award under the Plan is deemed a “Participant.”  “Award” means Options (as defined in Section 5), SARs (as defined in Section 6), Restricted
      Stock (as defined in Section 7), Restricted Stock Units (as defined in Section 7) and Other Stock-Based Awards (as defined in Section 8).

     

    3.          Administration and Delegation

     

    (a)          Administration by Board of Directors.  The Plan will be administered by the Board.  The Board shall have authority to grant Awards and to adopt, amend and repeal such
          administrative rules, guidelines and practices relating to the Plan as it shall deem advisable, subject to the terms of the Plan and any applicable Award agreement.  The Board may construe and interpret the terms of the Plan and any Award
          agreements entered into under the Plan.  The Board may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem expedient and it shall be the sole and final
          judge of such expediency.  All decisions by the Board shall be made in the Board’s sole discretion and shall be final and binding on all persons having or claiming any interest in the Plan or in any Award.

    
      
        

    

    
    (b)          Appointment of Committees.  To the extent permitted by applicable law, the Board may delegate any or all of its powers under the Plan to one or more committees or
          subcommittees of the Board (a “Committee”).  All references in the Plan to the “Board” shall mean the Board or a Committee of the Board or the officers referred to in Section 3(c) to the extent that the Board’s powers or authority under the Plan have
          been delegated to such Committee or officers.

     

    (c)          Delegation to Officers.  Subject to any requirements of applicable law (including as applicable Sections 152 and 157(c) of the General Corporation Law of the State of
          Delaware), the Board may delegate to one or more officers of the Company the power to grant Awards (subject to any limitations under the Plan) to employees or officers of the Company and to exercise such other powers under the Plan as the Board
          may determine, provided that the Board shall fix the terms of Awards to be granted by such officers, the maximum number of shares subject to Awards that the officers may grant, and the time period in which such Awards may be granted; and provided
          further, that no officer shall be authorized to grant Awards to any “executive officer” of the Company (as defined by Rule 3b-7 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) or to any “officer” of the Company (as defined by Rule 16a-1(f) under the Exchange Act).

     

    4.          Stock Available for Awards

     

    (a)          Number of Shares; Share Counting.

     

    (1)          Authorized Number of Shares.  Subject to adjustment under Section 9, Awards may be made under the Plan for up to such number of shares of common stock, $0.00001 par
          value per share, of the Company (the “Common Stock”) as is equal to the sum of:

     

    (A)          14,173,771
          shares of Common Stock; plus

     

    (B)          such additional
          number of shares of Common Stock (up to 22,399,691 shares) as is equal to the sum of (x) the number of shares of Common Stock reserved for issuance under the Company’s Amended and Restated 2014 Equity Incentive Plan (the “Existing Plan”), that remain available for grant under the Existing Plan immediately prior to the effectiveness of the registration
          statement for the Company’s initial public offering (the “Offering”) and (y) the number of shares of Common Stock subject to awards
          granted under the Existing Plan which awards expire, terminate or are otherwise surrendered, canceled, forfeited or repurchased by the Company at their original issuance price pursuant to a contractual repurchase right (subject, however, in the
          case of Incentive Stock Options to any limitations of the Code); plus

     

    (C)          an annual
          increase to be added on the first day of each fiscal year, commencing on January 1, 2022 and continuing for each fiscal year until, and including, January 1, 2031, equal to the least of (i) 5% of the outstanding shares on such date and (ii) the
          number of shares of Common Stock determined by the Board.

     

    Subject to adjustment under Section 9, up to 56,695,085 of the shares of Common Stock available for issuance under the Plan may be issued as Incentive
      Stock Options (as defined in Section 5(b)) under the Plan.  Shares issued under the Plan may consist in whole or in part of authorized but unissued shares or treasury shares.

    
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    (2)          Share Counting.  For purposes of counting the number of shares available for the grant of Awards under the Plan under this Section 4(a):

     

    (A)          all shares of
          Common Stock covered by SARs shall be counted against the number of shares available for the grant of Awards under the Plan; provided, however, that
          (i) SARs that may be settled only in cash shall not be so counted and (ii) if the Company grants an SAR in tandem with an Option for the same number of shares of Common Stock and provides that only one such Award may be exercised (a “Tandem SAR”), only the shares covered by the Option, and not the shares covered by the Tandem SAR, shall be so counted, and the
          expiration of one in connection with the other’s exercise will not restore shares to the Plan;

     

    (B)          to the extent a
          Restricted Stock Unit award may be settled only in cash, no shares shall be counted against the shares available for the grant of Awards under the Plan;

     

    (C)          if any Award
          (i) expires or is terminated, surrendered or canceled without having been fully exercised or is forfeited in whole or in part (including as the result of shares of Common Stock subject to such Award being repurchased by the Company at the
          original issuance price pursuant to a contractual repurchase right) or (ii) results in any Common Stock not being issued (including as a result of an SAR or an RSU that was settleable either in cash or in stock actually being settled in cash),
          the unused Common Stock covered by such Award shall again be available for the grant of Awards; provided, however, that (1) in the case of Incentive
          Stock Options, the foregoing shall be subject to any limitations under the Code, (2) in the case of the exercise of an SAR, the number of shares counted against the shares available under the Plan shall be the full number of shares subject to the
          SAR multiplied by the percentage of the SAR actually exercised, regardless of the number of shares actually used to settle such SAR upon exercise and (3) the shares covered by a Tandem SAR shall not again become available for grant upon the
          expiration or termination of such Tandem SAR; and

     

    (D)          shares of
          Common Stock delivered (by actual delivery, attestation, or net exercise) to the Company by a Participant to (i) purchase shares of Common Stock upon the exercise of an Award or (ii) satisfy tax withholding obligations with respect to Awards
          (including shares retained from the Award creating the tax obligation) shall be added back to the number of shares available for the future grant of Awards.

     

    (b)          Substitute Awards.  In connection with a merger or consolidation of an entity with the Company or the acquisition by the Company of property or stock of an entity, the
          Board may grant Awards in substitution for any options or other stock or stock-based awards granted by such entity or an affiliate thereof.  Substitute Awards may be granted on such terms as the Board deems appropriate in the circumstances,
          notwithstanding any limitations on Awards contained in the Plan.  Substitute Awards shall not count against the overall share limit set forth in Section 4(a)(1) or any sublimit contained in the Plan, except as may be required by reason of Section
          422 and related provisions of the Code.

    
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    (c)          Limit on Awards to Non-Employee Directors.  The maximum aggregate amount of cash and value (calculated based on grant date fair value for financial reporting purposes)
          of Awards granted in any calendar year to any individual non-employee director in his or her capacity as a non-employee director shall not exceed $750,000; provided, however, that such maximum aggregate amount shall not exceed $1,000,000 in any
          calendar year for any individual non-employee director in such non-employee director’s initial year of service; and provided, further, however, that fees paid by the Company on behalf of any non-employee director in connection with regulatory
          compliance and any amounts paid to a non-employee director as reimbursement of an expense shall not count against the foregoing limit.  The Board may make additional exceptions to this limit for individual non-employee directors in extraordinary
          circumstances, as the Board may determine in its discretion, provided that the non-employee director receiving such additional compensation may not participate in the decision to award such compensation. For the avoidance of doubt, this
          limitation shall not apply to cash or Awards granted to the non-employee director in his or her capacity as an advisor or consultant to the Company.

     

    5.          Stock Options

     

    (a)          General.  The Board may grant options to purchase Common Stock (each, an “Option”) and determine the number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to the exercise of each Option, including
          conditions relating to applicable federal or state securities laws, as it considers necessary or advisable.

     

    (b)          Incentive Stock Options.  An Option that the Board intends to be an “incentive stock option” as defined in Section 422 of the Code (an “Incentive Stock Option”) shall only be granted to employees of Cue Health Inc., any of Cue Health Inc.’s present or future parent or subsidiary corporations
          as defined in Sections 424(e) or (f) of the Code, and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be construed consistently with the requirements of
          Section 422 of the Code.  An Option that is not intended to be an Incentive Stock Option shall be designated a “Nonstatutory Stock Option.” 
          The Company shall have no liability to a Participant, or any other party, if an Option (or any part thereof) that is intended to be an Incentive Stock Option is not an Incentive Stock Option or if the Company converts an Incentive Stock Option to
          a Nonstatutory Stock Option.

     

    (c)          Exercise Price.  The Board shall establish the exercise price of each Option or the formula by which such exercise price will be determined.  The exercise price shall
          be specified in the applicable option agreement. The exercise price shall be not less than 100% of the Grant Date Fair Market Value (as defined below) of the Common Stock on the date the Option is granted; provided that if the Board approves the grant of an Option with an exercise price to be determined on a future date, the exercise price shall be not less than 100% of the Grant Date Fair
          Market Value on such future date.  “Grant Date Fair Market Value” of a share of Common Stock for purposes of the Plan will be
          determined as follows:

     

    (1)          if the Common
          Stock trades on a national securities exchange, the closing sale price (for the primary trading session) on the date of grant; or

    
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    (2)          if the Common
          Stock does not trade on any such exchange, the average of the closing bid and asked prices on the date of grant as reported by an over-the-counter marketplace designated by the Board; or

     

    (3)          if the Common
          Stock is not publicly traded, the Board will determine the Grant Date Fair Market Value for purposes of the Plan using any measure of value it determines to be appropriate (including, as it considers appropriate, relying on appraisals) in a
          manner consistent with the valuation principles under Code Section 409A, except as the Board may expressly determine otherwise.

     

    For any date that is not a trading day, the Grant Date Fair Market Value of a share of Common Stock for such date will be determined by using the
      closing sale price or average of the bid and asked prices, as appropriate, for the immediately preceding trading day and with the timing in the formulas above adjusted accordingly.  The Board can substitute a particular time of day or other measure
      of “closing sale price” or “bid and asked prices” if appropriate because of exchange or market procedures or can, in its sole discretion, use weighted averages either on a daily basis or such longer period as complies with Code Section 409A.

     

    Notwithstanding the foregoing, in respect of Options granted in connection with the Offering (to the extent determined by the Board), the Grant Date
      Fair Market Value of a share of Common Stock shall be the per share price at which shares of Common Stock are sold by the underwriters to the public in the Offering.

     

    The Board has sole discretion to determine the Grant Date Fair Market Value for purposes of the Plan, and all Awards are conditioned on the
      Participants’ agreement that the Board’s determination is conclusive and binding even though others might make a different determination.

     

    (d)          Duration of Options.  Each Option shall be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable Option
          agreement; provided, however, that no Option will be granted with a term in excess of 10 years.

     

    (e)          Exercise of Options.  Options may be exercised by delivery to the Company of a notice of exercise in a form (which may be electronic, and which may be provided to a
          third party equity plan administrator) approved by the Company, together with payment in full (in the manner specified in Section 5(f)) of the exercise price for the number of shares for which the Option is exercised.  Shares of Common Stock
          subject to the Option will be delivered by the Company as soon as practicable following exercise.

     

    (f)          Payment Upon Exercise.  Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for as follows:

     

    (1)          in cash or by
          check, payable to the order of the Company;

     

    (2)          except as may
          otherwise be provided in the applicable Option agreement or approved by the Board, by (i) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise
          price and any required tax withholding or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the
          exercise price and any required tax withholding;

    
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    (3)          to the extent
          provided for in the applicable Option agreement or approved by the Board, by delivery (either by actual delivery or attestation) of shares of Common Stock owned by the Participant valued at their fair market value (valued in the manner determined
          by (or in a manner approved by) the Board), provided (i) such method of payment is then permitted under applicable law, (ii) such Common Stock, if acquired directly from the Company, was owned by the Participant for such minimum period of time,
          if any, as may be established by the Board and (iii) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;

     

    (4)          to the extent
          provided for in the applicable Nonstatutory Stock Option agreement or approved by the Board, by delivery of a notice of “net exercise” to the Company, as a result of which the Participant would receive (i) the number of shares underlying the
          portion of the Option being exercised, less (ii) such number of shares as is equal to (A) the aggregate exercise price for the portion of the Option being exercised divided by (B) the fair market value of the Common Stock (valued in the manner
          determined by (or in a manner approved by) the Board) on the date of exercise;

     

    (5)          to the extent
          permitted by applicable law and provided for in the applicable Option agreement or approved by the Board by payment of such other lawful consideration as the Board may determine; or

     

    (6)          by any
          combination of the above permitted forms of payment, to the extent approved by the Board.

     

    (g)          Limitation on Repricing.  Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9):  (1) amend any
          outstanding Option granted under the Plan to provide an exercise price per share that is lower than the then-current exercise price per share of such outstanding Option, (2) cancel any outstanding option (whether or not granted under the Plan)
          and grant in substitution therefor new Awards under the Plan (other than Awards granted pursuant to Section 4(b)) covering the same or a different number of shares of Common Stock and having an exercise or measurement price per share lower than
          the then-current exercise price per share of the cancelled option, (3) cancel in exchange for a cash payment any outstanding Option with an exercise price per share above the then-current fair market value of the Common Stock (valued in the
          manner determined by (or in the manner approved by) the Board) or (4) take any other action under the Plan that constitutes a “repricing” within the meaning of the rules of the Nasdaq Stock Market or any other exchange or marketplace on which the
          Company stock is listed or traded (the “Exchange”).

     

    (h)          No Reload Options.  No Option granted under the Plan shall contain any provision entitling the Participant to the automatic grant of additional Options in connection
          with any exercise of the original Option.

     

    (i)          No Dividend Equivalents.  No Option shall provide for the payment or accrual of dividend equivalents.

    
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    6.          Stock Appreciation Rights

     

    (a)          General.  The Board may grant Awards consisting of stock appreciation rights (“SARs”) entitling the holder, upon exercise, to receive an amount of Common Stock or cash or a combination thereof (such form to be determined by the Board) determined by reference to appreciation, from and after the
          date of grant, in the fair market value of a share of Common Stock (valued in the manner determined by (or in the manner approved by) the Board) over the measurement price established pursuant to Section 6(b).  The date as of which such
          appreciation is determined shall be the exercise date.

     

    (b)          Measurement Price.  The Board shall establish the measurement price of each SAR and specify it in the applicable SAR agreement.  The measurement price shall not be less
          than 100% of the Grant Date Fair Market Value of the Common Stock on the date the SAR is granted; provided that if the Board approves the grant of an
          SAR effective as of a future date, the measurement price shall be not less than 100% of the Grant Date Fair Market Value on such future date.

     

    (c)          Duration of SARs.  Each SAR shall be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable SAR agreement; provided, however, that no SAR will be granted with a term in excess of 10 years.

     

    (d)          Exercise of SARs.  SARs may be exercised by delivery to the Company of a notice of exercise in a form (which may be electronic) approved by the Company, together with
          any other documents required by the Board.

     

    (e)          Limitation on Repricing. Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9):  (1) amend any
          outstanding SAR granted under the Plan to provide a measurement price per share that is lower than the then-current measurement price per share of such outstanding SAR, (2) cancel any outstanding SAR (whether or not granted under the Plan) and
          grant in substitution therefor new Awards under the Plan (other than Awards granted pursuant to Section 4(b)) covering the same or a different number of shares of Common Stock and having an exercise or measurement price per share lower than the
          then-current measurement price per share of the cancelled SAR, (3) cancel in exchange for a cash payment any outstanding SAR with a measurement price per share above the then-current fair market value of the Common Stock (valued in the manner
          determined by (or in a manner approved by) the Board) or (4) take any other action under the Plan that constitutes a “repricing” within the meaning of the rules of the Exchange.

     

    (f)          No Reload SARs.  No SAR granted under the Plan shall contain any provision entitling the Participant to the automatic grant of additional SARs in connection with any
          exercise of the original SAR.

     

    (g)          No Dividend Equivalents.  No SAR shall provide for the payment or accrual of dividend equivalents.

    
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    7.          Restricted Stock; Restricted Stock Units

     

    (a)          General.  The Board may grant Awards entitling recipients to acquire shares of Common Stock (“Restricted Stock”), subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or to require forfeiture of such shares if
          issued at no cost) from the recipient in the event that conditions specified by the Board in the applicable Award are not satisfied prior to the end of the applicable restriction period or periods established by the Board for such Award.  The
          Board may also grant Awards entitling the recipient to receive shares of Common Stock or cash to be delivered as soon as practicable after the time such Award vests or is settled (“Restricted Stock Units”) (Restricted Stock and Restricted Stock Units are each referred to herein as a “Restricted Stock Award”).

     

    (b)          Terms and Conditions for All Restricted Stock Awards.  The Board shall determine the terms and conditions of a Restricted Stock Award, including the conditions for
          vesting and repurchase (or forfeiture) and the issue price, if any.

     

    (c)          Additional Provisions Relating to Restricted Stock.

     

    (1)          Dividends.  Any dividends (whether paid in cash, stock or property) declared and paid by the Company with respect to shares of Restricted Stock (“Accrued Dividends”) shall be paid to the Participant only if and when such shares become free from the restrictions on transferability
          and forfeitability that apply to such shares.  Each payment of Accrued Dividends will be made no later than the end of the calendar year in which the dividends are paid to stockholders of that class of stock or, if later, the 15th day of the
          third month following the lapsing of the restrictions on transferability and the forfeitability provisions applicable to the underlying shares of Restricted Stock.

     

    (2)          Stock Certificates.  The Company may require that any stock certificates issued in respect of shares of Restricted Stock, as well as dividends or distributions paid on
          such Restricted Stock, shall be deposited in escrow by the Participant, together with a stock power endorsed in blank, with the Company (or its designee).  At the expiration of the applicable restriction periods, the Company (or such designee)
          shall deliver the certificates no longer subject to such restrictions to the Participant or if the Participant has died, to his or her Designated Beneficiary.  “Designated Beneficiary” means (i) the beneficiary designated, in a manner determined by the Board, by a Participant to receive amounts due or exercise rights of the Participant in the event of the Participant’s death
          or (ii) in the absence of an effective designation by a Participant, the Participant’s estate.

     

    (d)          Additional Provisions Relating to Restricted Stock Units.

     

    (1)          Settlement.  As soon as practicable after the vesting of and/or lapsing of any other restrictions with respect to each Restricted Stock Unit, the Participant shall be
          entitled to receive from the Company (i.e., settlement) such number of shares of Common Stock or (if so provided in the applicable Award agreement) an amount of cash equal to the fair market value (valued in the manner determined by (or in a
          manner approved by) the Board) of such number of shares of Common Stock as are set forth in the applicable Restricted Stock Unit agreement.  The Board may provide that settlement of Restricted Stock Units shall be deferred, on a mandatory basis
          or at the election of the Participant in a manner that complies with Section 409A of the Code.

    
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    (2)          Voting Rights.  A Participant shall have no voting rights with respect to any Restricted Stock Units.

     

    (3)          Dividend Equivalents.  The Award agreement for Restricted Stock Units may provide Participants with the right to receive an amount equal to any dividends or other
          distributions declared and paid on an equal number of outstanding shares of Common Stock (“Dividend Equivalents”).  Dividend
          Equivalents may be settled in cash and/or shares of Common Stock, as provided in the Award agreement, and shall be subject to the same restrictions on transfer and forfeitability as the Restricted Stock Units with respect to which paid.

     

    8.          Other Stock-Based Awards

     

    (a)          General.  The Board may grant other Awards of shares of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise based on,
          shares of Common Stock or other property (“Other Stock-Based Awards”).  Such Other Stock-Based Awards shall also be available as a
          form of payment in the settlement of other Awards granted under the Plan or as payment in lieu of compensation to which a Participant is otherwise entitled.  Other Stock-Based Awards may be paid in shares of Common Stock or cash, as the Board
          shall determine.

     

    (b)          Terms and Conditions.  Subject to the provisions of the Plan, the Board shall determine the terms and conditions of each Other Stock-Based Award, including any purchase
          price applicable thereto.

     

    (c)          Dividend Equivalents.  The Award agreement for an Other Stock-Based Award may provide Participants with the right to receive Dividend Equivalents.  Dividend Equivalents
          will be credited to an account for the Participant, may be settled in cash and/or shares of Common Stock as set forth in the Award agreement and shall be subject to the same restrictions on transfer and forfeitability as the Other Stock-Based
          Award with respect to which paid.  No interest will be paid on Dividend Equivalents.

     

    9.          Adjustments for Changes in Common Stock
            and Certain Other Events

     

    (a)          Changes in Capitalization.  In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares,
          spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock other than an ordinary cash dividend, (i) the number and class of securities available under the Plan, and the number and
          class of securities available for issuance under the Plan that may be issued as Incentive Stock Options under the Plan, (ii) the share counting rules set forth in Section 4(a), (iii) the number and class of securities and exercise price per share
          of each outstanding Option, (iv) the share and per-share provisions and the measurement price of each outstanding SAR, (v) the number of shares subject to and the repurchase price per share subject to each outstanding award of Restricted Stock,
          (vi) the share and per-share-related provisions and the purchase price, if any, of each outstanding Restricted Stock Unit award and each outstanding Other Stock-Based Award and (vii) other terms to the extent provided in an applicable Award
          agreement, shall be equitably adjusted by the Company (or substituted Awards may be made, if applicable) in the manner determined by the Board.  Without limiting the generality of the foregoing, in the event the Company effects a split of the
          Common Stock by means of a stock dividend and the exercise price of and the number of shares subject to an outstanding Option are adjusted as of the date of the distribution of the dividend (rather than as of the record date for such dividend),
          then an optionee who exercises an Option between the record date and the distribution date for such stock dividend shall be entitled to receive, on the distribution date, the stock dividend with respect to the shares of Common Stock acquired upon
          such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend.

    
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    (b)          Reorganization Events.

     

    (1)          Definition.  A “Reorganization Event” shall mean:  (a)
          any merger or consolidation of the Company with or into another entity as a result of which all of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property or is cancelled, (b) any
          transfer or disposition of all of the Common Stock of the Company for cash, securities or other property pursuant to a share exchange or other transaction or (c) any liquidation or dissolution of the Company.

     

    (2)          Consequences of a Reorganization Event on Awards Other than Restricted Stock.

     

    (A)          In connection
          with a Reorganization Event, the Board may take any one or more of the following actions as to all or any (or any portion of) outstanding Awards other than Restricted Stock on such terms as the Board determines (except to the extent specifically
          provided otherwise in an applicable Award agreement or another agreement between the Company and the Participant):  (i) provide that such Awards shall be assumed, or substantially equivalent Awards shall be substituted, by the acquiring or
          succeeding corporation (or an affiliate thereof), (ii) upon written notice to a Participant, provide that all of the Participant’s unvested Awards will be forfeited immediately prior to the consummation of such Reorganization Event and/or that
          all of the Participant’s unexercised Awards will terminate immediately prior to the consummation of such Reorganization Event unless exercised by the Participant (to the extent then exercisable) within a specified period following the date of
          such notice, (iii) provide that outstanding Awards shall become exercisable, realizable or deliverable, or restrictions applicable to an Award shall lapse, in whole or in part prior to or upon such Reorganization Event, (iv) in the event of a
          Reorganization Event under the terms of which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the Reorganization Event (the “Acquisition Price”), make or provide for a cash payment to Participants with respect to each Award held by a Participant equal to (A) the number of shares of Common Stock
          subject to the vested portion of the Award (after giving effect to any acceleration of vesting that occurs upon or immediately prior to such Reorganization Event) multiplied by (B) the excess, if any, of (I) the Acquisition Price over (II) the
          exercise, measurement or purchase price of such Award and any applicable tax withholdings, in exchange for the termination of such Award, (v) provide that, in connection with a liquidation or dissolution of the Company, Awards shall convert into
          the right to receive liquidation proceeds (if applicable, net of the exercise, measurement or purchase price thereof and any applicable tax withholdings) and (vi) any combination of the foregoing.  In taking any of the actions permitted under
          this Section 9(b)(2), the Board shall not be obligated by the Plan to treat all Awards, all Awards held by a Participant, or all Awards of the same type, identically.

    
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    (B)          Notwithstanding
          the terms of Section 9(b)(2)(A), in the case of outstanding Restricted Stock Units that are subject to Section 409A of the Code: (i) if the applicable Restricted Stock Unit agreement provides that the Restricted Stock Units shall be settled upon
          a “change in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5)(i), and the Reorganization Event constitutes such a “change in control event”, then no assumption or substitution shall be permitted pursuant to Section
          9(b)(2)(A)(i) and the Restricted Stock Units shall instead be settled in accordance with the terms of the applicable Restricted Stock Unit agreement; and (ii) the Board may only undertake the actions set forth in clauses (iii), (iv) or (v) of
          Section 9(b)(2)(A) if the Reorganization Event constitutes a “change in control event” as defined under Treasury Regulation Section 1.409A-3(i)(5)(i) and such action is permitted or required by Section 409A of the Code; if the Reorganization
          Event is not a “change in control event” as so defined or such action is not permitted or required by Section 409A of the Code, and the acquiring or succeeding corporation does not assume or substitute the Restricted Stock Units pursuant to
          clause (i) of Section 9(b)(2)(A), then the unvested Restricted Stock Units shall terminate immediately prior to the consummation of the Reorganization Event without any payment in exchange therefor.

     

    (C)          For purposes of
          Section 9(b)(2)(A)(i), an Award (other than Restricted Stock) shall be considered assumed if, following consummation of the Reorganization Event, such Award confers the right to purchase or receive pursuant to the terms of such Award, for each
          share of Common Stock subject to the Award immediately prior to the consummation of the Reorganization Event, the consideration (whether cash, securities or other property) received as a result of the Reorganization Event by holders of Common
          Stock for each share of Common Stock held immediately prior to the consummation of the Reorganization Event (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding
          shares of Common Stock); provided, however, that if the consideration received as a result of the Reorganization Event is not solely common stock of
          the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise or settlement of the Award to consist
          solely of such number of shares of common stock of the acquiring or succeeding corporation (or an affiliate thereof) that the Board determines to be equivalent in value (as of the date of such determination or another date specified by the Board)
          to the per share consideration received by holders of outstanding shares of Common Stock as a result of the Reorganization Event.

     

    (3)          Consequences of a Reorganization Event on Restricted Stock.  Upon the occurrence of a Reorganization Event other than a liquidation or dissolution of the Company, the
          repurchase and other rights of the Company with respect to outstanding Restricted Stock shall inure to the benefit of the Company’s successor and shall, unless the Board determines otherwise, apply to the cash, securities or other property which
          the Common Stock was converted into or exchanged for pursuant to such Reorganization Event in the same manner and to the same extent as they applied to such Restricted Stock; provided, however, that the Board may provide for termination or deemed satisfaction of such repurchase or other rights
          under the instrument evidencing any Restricted Stock or any other agreement between a Participant and the Company, either initially or by amendment.  Upon the occurrence of a Reorganization Event involving the liquidation or dissolution of the
          Company, except to the extent specifically provided to the contrary in the instrument evidencing any Restricted Stock or any other agreement between a Participant and the Company, all restrictions and conditions on all Restricted Stock then
          outstanding shall automatically be deemed terminated or satisfied.

    
      -11-

      
        

    

    10.          General Provisions Applicable to Awards

     

    (a)          Transferability of Awards.  Awards shall not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of
          law, except by will or the laws of descent and distribution or, other than in the case of an Incentive Stock Option, pursuant to a qualified domestic relations order, and, during the life of the Participant, shall be exercisable only by the
          Participant; provided, however, that, except with respect to Awards subject to Section 409A of the Code, the Board may permit or provide in an Award
          for the gratuitous transfer of the Award by the Participant to or for the benefit of any immediate family member, family trust or other entity established for the benefit of the Participant and/or an immediate family member thereof if the Company
          would be eligible to use a Form S-8 under the Securities Act for the registration of the sale of the Common Stock subject to such Award to such proposed transferee; provided further, that the Company shall not be required to recognize any such permitted transfer until such time as such permitted transferee shall, as a condition to such transfer, deliver to the Company a written instrument
          in form and substance satisfactory to the Company confirming that such transferee shall be bound by all of the terms and conditions of the Award.  References to a Participant, to the extent relevant in the context, shall include references to
          authorized transferees.  For the avoidance of doubt, nothing contained in this Section 10(a) shall be deemed to restrict a transfer to the Company.

     

    (b)          Documentation.  Each Award shall be evidenced in such form (written, electronic or otherwise) as the Board shall determine.  Each Award may contain terms and conditions
          in addition to those set forth in the Plan.

     

    (c)          Board Discretion.  Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to any other Award.  The terms of each Award
          need not be identical, and the Board need not treat Participants uniformly.

     

    (d)          Termination of Status.  The Board shall determine the effect on an Award of the disability, death, termination or other cessation of employment, authorized leave of
          absence or other change in the employment or other status of a Participant and the extent to which, and the period during which, the Participant, or the Participant’s legal representative, conservator, guardian or Designated Beneficiary, may
          exercise rights or receive any benefits under the Award.

    
      -12-

      
        

    

    (e)          Withholding.  The Participant must satisfy all applicable federal, state, and local or other income and employment tax withholding obligations before the Company will
          deliver stock certificates or otherwise recognize ownership of Common Stock under an Award.  Except as otherwise provided in an applicable Award agreement, the Company may elect to satisfy the withholding obligations through additional
          withholding on salary or wages.  Except as otherwise provided in an applicable Award agreement, if the Company elects not to or cannot withhold from other compensation, the Participant must pay the Company the full amount, if any, required for
          withholding or have a broker tender to the Company cash equal to the withholding obligations.  Payment of withholding obligations is due before the Company will issue any shares on exercise, vesting or release from forfeiture of an Award or at
          the same time as payment of the exercise or purchase price, unless the Company determines otherwise.  If provided for in an Award or approved by the Board,  a Participant may satisfy the tax obligations in whole or in part by delivery (either by
          actual delivery or attestation) of shares of Common Stock, including shares retained from the Award creating the tax obligation, valued at their fair market value (valued in the manner determined by (or in a manner approved by) the Company); provided, however, except as otherwise provided by the
          Board or in an applicable Award agreement, that the total tax withholding where stock is being used to satisfy such tax obligations cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding
          rates for federal, state and local tax purposes, including payroll taxes, that are applicable to such supplemental taxable income), except that, to the extent that the Company is able to retain shares of Common Stock having a fair market value
          (determined by, or in a manner approved by, the Company) that exceeds the statutory minimum applicable withholding tax without financial accounting implications or the Company is withholding in a jurisdiction that does not have a statutory
          minimum withholding tax, the Company may retain such number of shares of Common Stock (up to the number of shares having a fair market value equal to the maximum individual statutory rate of tax (determined by, or in a manner approved by, the
          Company)) as the Company shall determine in its sole discretion to satisfy the tax liability associated with any Award.  Shares used to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting or
          other similar requirements.

     

    (f)          Amendment of Award.  Except as otherwise provided in Sections 5(g) and 6(e) with respect to repricings and Section 11(d) with respect to actions requiring stockholder
          approval, the Board may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive
          Stock Option to a Nonstatutory Stock Option.  The Participant’s consent to such action shall be required unless (i) the Board determines that the action, taking into account any related action, does not materially and adversely affect the
          Participant’s rights under the Plan or (ii) the change is permitted under Section 9.

     

    (g)          Conditions on Delivery of Stock.  The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to remove restrictions from shares
          previously issued or delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters in connection with the issuance
          and delivery of such shares have been satisfied, including any applicable securities laws and regulations and any applicable stock exchange or stock market rules and regulations and (iii) the Participant has executed and delivered to the Company
          such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, stock exchange listing rules or regulations.

    
      -13-

      
        

    

    (h)          Acceleration.  The Board may at any time provide that any Award shall become immediately exercisable in whole or in part, free from some or all restrictions or
          conditions, or otherwise realizable in whole or in part, as the case may be.

     

    11.          Miscellaneous

     

    (a)          No Right To Employment or Other Status.  No person shall have any claim or right to be granted an Award by virtue of the adoption of the Plan, and the grant of an Award
          shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company.  The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a
          Participant free from any liability or claim under the Plan, except as expressly provided in the applicable Award.

     

    (b)          No Rights As Stockholder; Clawback Policy.  Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have any rights as a
          stockholder with respect to any shares of Common Stock to be issued with respect to an Award until becoming the record holder of such shares.  Except as otherwise provided in an applicable Award agreement, in accepting an Award under the Plan, a
          Participant agrees to be bound by any clawback policy the Company has in effect or may adopt in the future.

     

    (c)          Effective Date and Term of Plan.  The Plan shall become effective immediately prior to the effectiveness of the Company’s registration statement for the Offering (the “Effective Date”).  No Awards shall be granted under the Plan after the expiration of 10 years from the Effective Date, but Awards
          previously granted may extend beyond that date.

     

    (d)          Amendment of Plan.  The Board may amend, suspend or terminate the Plan or any portion thereof at any time provided that no amendment that would require stockholder
          approval under the rules of the Exchange may be made effective unless and until the Company’s stockholders approve such amendment.  In addition, if at any time the approval of the Company’s stockholders is required as to any other modification or
          amendment under Section 422 of the Code or any successor provision with respect to Incentive Stock Options, the Board may not effect such modification or amendment without such approval.  Unless otherwise specified in the amendment, any amendment
          to the Plan adopted in accordance with this Section 11(d) shall apply to, and be binding on the holders of, all Awards outstanding under the Plan at the time the amendment is adopted, provided the Board determines that such amendment, taking into
          account any related action, does not materially and adversely affect the rights of Participants under the Plan.  No Award shall be made that is conditioned upon stockholder approval of any amendment to the Plan unless the Award provides that (i)
          it will terminate or be forfeited if stockholder approval of such amendment is not obtained within no more than 12 months from the date of grant and (ii) it may not be exercised or settled (or otherwise result in the issuance of Common Stock)
          prior to such stockholder approval.

    
      -14-

      
        

    

    (e)          Authorization of Sub-Plans (including for Grants to non-U.S. Employees).  The Board may from time to time establish one or more sub-plans under the Plan for purposes of
          satisfying applicable securities, tax or other laws of various jurisdictions.  The Board shall establish such sub-plans by adopting supplements to the Plan containing (i) such limitations on the Board’s discretion under the Plan as the Board
          deems necessary or desirable or (ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary or desirable.  All supplements adopted by the Board shall be deemed to be part of the Plan, but
          each supplement shall apply only to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Participants in any jurisdiction which is not the subject of such supplement.

     

    (f)          Compliance with Section 409A of the Code.  If and to the extent (i) any portion of any payment, compensation or other benefit provided to a Participant pursuant to the
          Plan in connection with his or her employment termination constitutes “nonqualified deferred compensation” within the meaning of Section 409A of the Code and (ii) the Participant is a specified employee as defined in Section 409A(a)(2)(B)(i) of
          the Code, in each case as determined by the Company in accordance with its procedures, by which determinations the Participant (through accepting the Award) agrees that he or she is bound, such portion of the payment, compensation or other benefit shall not be paid before the day that is six months plus one day after the date of “separation from service” (as determined under Section
          409A of the Code) (the “New Payment Date”), except as Section 409A of the Code may then permit.  The aggregate of any payments that
          otherwise would have been paid to the Participant during the period between the date of separation from service and the New Payment Date shall be paid to the Participant in a lump sum on such New Payment Date, and any remaining payments will be
          paid on their original schedule.

     

    The Company makes no representations or warranty and shall have no liability to the Participant or any other person if any provisions of or payments,
      compensation or other benefits under the Plan are determined to constitute nonqualified deferred compensation subject to Section 409A of the Code but do not to satisfy the conditions of that section.

     

    (g)          Limitations on Liability.  Notwithstanding any other provisions of the
          Plan, no individual acting as a director, officer, employee or agent of the Company will be liable to any Participant, former Participant, spouse,
          beneficiary, or any other person for any claim, loss, liability, or expense incurred in connection with the Plan, nor will such individual be personally liable with respect to the Plan because of any contract or other instrument he or she
          executes in his or her capacity as a director, officer, employee or agent of the Company.  The Company will indemnify and hold harmless each director, officer, employee or agent of the Company to whom any duty or power relating to the
          administration or interpretation of the Plan has been or will be delegated, against any cost or expense (including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Board’s approval) arising out of any act or
          omission to act concerning the Plan unless arising out of such person’s own fraud or bad faith.

     

    (h)          Governing Law.  The provisions of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance with the laws of the State of Delaware,
          excluding choice-of-law principles of the law of such state that would require the application of the laws of a jurisdiction other than the State of Delaware.

    

    

  

  -15-Exhibit 10.6

    

    

    Cue Health Inc.

    STOCK OPTION AGREEMENT

    

    

    Cue Health Inc. (the “Company”) hereby grants
      the following stock option pursuant to its 2021 Stock Incentive Plan.  The terms and conditions attached hereto are also a part hereof.

    

    

    Notice of Grant

    

    

    	
            Name of optionee (the “Participant”):

          	 
	
            Grant Date:

          	 
	
            Incentive Stock Option or Nonstatutory Stock Option:

          	 
	
            Number of shares of the Company’s Common Stock subject to this option (“Shares”):

          	 
	
            Option exercise price per Share:1

          	 
	
            Number, if any, of Shares that vest immediately on the grant date:

          	 
	
            Shares that are subject to vesting schedule:

          	 
	
            Vesting Start Date:

          	 
	
            Final Exercise Date: 2

          	 

    

    

    Vesting Schedule:

    

    

    	
            Vesting Date:

          	
            Number of Options that Vest:

          
	 	 
	 	 
	
            All vesting is dependent on the Participant remaining an Eligible Participant, as provided herein.

          

    

    

    This option satisfies in full all commitments that the Company has to the Participant with respect to the issuance of stock, stock options
      or other equity securities.

     

    

    	 	 	
            Cue Health Inc.

          
	 	 	 
	 	 	 
	
            Signature of Participant

          	 	 
	 	 	 
	 	 	
            By:

          	

          
	
            Street Address

          	 	 	
            Name of Officer

          
	 	 	 	
            Title:

          	 
	 	 	 	 	 
	
            City/State/Zip Code

          	 	 	 	 

    

    

    

    

    1          This must be at least 100% of the Grant Date Fair Market Value (as defined in the Plan) of the Common Stock on the date of
        grant (or, for an option to qualify as an incentive stock option (an “ISO”) under section 422 of the Internal Revenue Code, 110% in the case of a Participant that owns more than 10% of the total combined voting power of all classes of stock of the
        Company or its parent or subsidiary (a “10% Shareholder”)).

    2          The Final Exercise Date must be no more than 10 years (or, for an option to qualify as an ISO, 5 years in the case of a
        10% Shareholder) from the date of grant.  The correct approach to calculate the final exercise date is to use the day immediately prior to the date ten years out from the date of the stock option award grant (5 years in the case of a 10%
        Shareholder).

    
      
        

    

    
    Cue Health Inc.

    

    

    Stock Option Agreement

    Incorporated Terms and Conditions

    

    

    1.          Grant of Option.

    

    

    This agreement evidences the grant by the Company, on the grant date (the “Grant Date”) set forth in the Notice of Grant that forms part of this agreement (the “Notice of Grant”), to the Participant of an option to purchase, in whole or in part, on the terms provided herein and in the Company’s 2021 Stock Incentive Plan (the “Plan”), the number of Shares set forth in the Notice of Grant of common stock, $0.00001 par value per share, of the Company (“Common Stock”), at the exercise price per Share set forth in the Notice of Grant.  Unless earlier terminated, this option shall expire at 5:00 p.m., Eastern time, on the Final Exercise Date set forth in the Notice of Grant (the “Final Exercise Date”).

    

    

    The option evidenced by this agreement is intended to be an incentive stock option as defined in Section 422 of the Internal Revenue Code
      of 1986, as amended, and any regulations promulgated thereunder (the “Code”) to the maximum extent permitted by law, solely to the extent designated as an
      incentive stock option in the Notice of Grant.  Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed
      to include any person who acquires the right to exercise this option validly under its terms.

    

    

    2.          Vesting Schedule.

    

    

    This option will become exercisable (“vest”) in
      accordance with the vesting schedule set forth in the Notice of Grant.

    

    

    The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent permissible
      it shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan.

    

    

    3.          Exercise of Option.

    

    

    (a)          Form of Exercise.  Each election to exercise this option shall be in writing, in the form of the Stock Option Exercise Notice attached as Annex A, signed by the Participant, and received by the Company at its principal office, accompanied by this agreement, or in such other form (which may be electronic) as is approved by the Company, together
        with payment in full in the manner provided in the Plan.  The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for any fractional share.

    

    

    (b)          Continuous Relationship with the Company Required.  Except as otherwise provided in this Section 3, this option may not be exercised unless the Participant, at the time he or she exercises this
        option, is, and has been at all times since the Grant Date, an employee, director or officer of, or consultant or advisor to, the Company or any other entity the employees, officers, directors, consultants, or advisors of which are eligible to
        receive option grants under the Plan (an “Eligible Participant”).

    
      -2-

      
        

    

    (c)          Termination of Relationship with the Company.  If the Participant ceases to be an Eligible Participant for any reason, then, except as provided in paragraphs (d) and (e) below, the right to exercise
        this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided that this option shall be exercisable only to the extent that the Participant was
        entitled to exercise this option on the date of such cessation.  Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date, violates the restrictive covenants (including, without limitation, the non-competition,
        non-solicitation, or confidentiality provisions) of any employment contract, any non-competition, non-solicitation, confidentiality or assignment agreement to which the Participant is a party, or any other agreement between the Participant and the
        Company, the right to exercise this option shall terminate immediately upon such violation.

    

    

    (d)          Exercise Period Upon Death or Disability.  If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an
        Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (e) below, this option shall be exercisable, within the period of one year following the date of death or disability of the Participant,
        by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after
        the Final Exercise Date.

    

    

    (e)          Termination for Cause.  If, prior to the Final Exercise Date, the Participant’s employment or other service is terminated by the Company for Cause (as defined in below), the right to exercise this
        option shall terminate immediately upon the effective date of such termination of service.  If, prior to the Final Exercise Date, the Participant is given notice by the Company of the termination of his or her employment or other service by the
        Company for Cause, and the effective date of such termination is subsequent to the date of delivery of such notice, the right to exercise this option shall be suspended from the time of the delivery of such notice until the earlier of (i) such time
        as it is determined or otherwise agreed that the Participant’s service shall not be terminated for Cause as provided in such notice or (ii) the effective date of such termination of service (in which case the right to exercise this option shall,
        pursuant to the preceding sentence, terminate upon the effective date of such termination of employment).  If the Participant is subject to an individual employment, consulting or other service agreement with the Company or eligible to participate
        in a Company severance plan or arrangement, in any case which agreement, plan or arrangement contains a definition of “cause” for termination of service, “Cause” shall have the meaning ascribed to such term in such agreement, plan or arrangement. 
        Otherwise, “Cause” shall mean willful misconduct by the Participant or willful failure by the Participant to perform his or her responsibilities to the Company (including, without limitation, breach by the Participant of any provision of any
        employment, consulting, advisory, nondisclosure, non-competition or other similar agreement between the Participant and the Company), as determined by the Company, which determination shall be conclusive.  The Participant’s employment or other
        service shall be considered to have been terminated for Cause if the Company determines, within 30 days after the Participant’s resignation, that termination for Cause was warranted.

    
      -3-

      
        

    

    4.          Tax Matters.

    

    

    (a)          Withholding.  No Shares will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of,
        any federal, state or local withholding taxes required by law to be withheld in respect of this option.

    

    

    (b)          Disqualifying Disposition.  If this option is an incentive stock option and the Participant disposes of Shares acquired upon exercise of this option within two years from the Grant Date or one year
        after such Shares were acquired pursuant to exercise of this option, the Participant shall notify the Company in writing of such disposition.

    

    

    5.          Transfer Restrictions; Clawback.

    

    

    (a)          This option may not be sold, assigned,
        transferred, pledged, encumbered or otherwise disposed of by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be
        exercisable only by the Participant.

    

    

    (b)          In accepting this option, the Participant
        agrees to be bound by any clawback policy that the Company has in place or may adopt in the future.

    

    

    6.          Provisions of the Plan.

    

    

    This option is subject to the provisions of the Plan (including the provisions relating to amendments to the Plan), a copy of which is
      furnished to the Participant with this option.

    
      -4-

      
        

    

    ANNEX A

    

    

    Cue Health Inc.

    

    

    Stock Option Exercise Notice

    

    

    Cue Health Inc.

    4980 Carroll Canyon Rd., Suite 100

    San Diego, CA 92121

    

    

    Dear Sir or Madam:

    

    

    I,                      (the “Participant”), hereby irrevocably exercise the right to purchase                      shares of the Common Stock, $0.00001
        par value per share (the “Shares”), of Cue Health Inc. (the “Company”)
        at $                     per share pursuant to the
        Company’s 2021 Stock Incentive Plan and a stock option agreement with the Company dated                      (the “Option Agreement”).  Enclosed herewith is a payment of $           
                    , the aggregate purchase price for the Shares.  The certificate for the Shares should be registered in my name as it appears below or, if so indicated below, jointly in my name and the name of the person designated below,
        with right of survivorship.

    

    

    	
            Dated:

          	 	 
	 	 
	 	 
	
            Signature

          	 
	
            Print Name:

          	 
	 	 	 
	
            Address:

          	 
	 	 
	 	 
	 	 	 
	
            Name and address of persons in whose name the Shares are to be jointly registered (if applicable):

          
	 	 	 
	 	 

    

    

  

  -5-

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