Document:

EX-10.1

 Exhibit 10.1 

SETTLEMENT AGREEMENT 

This Settlement Agreement (“Agreement”) is made as of December 29, 2021 (“Effective Date”) among, on
the one hand, Diamond Offshore Drilling, Inc. (together with its Board of Directors, the “Company”) and, on the other hand, Avenue Capital Management II, L.P. (“Avenue Capital”) and Avenue Energy Opportunities Fund
II AIV, L.P. (“AEOF” and, together with Avenue Capital, “Avenue” and, collectively, with Diamond Offshore Drilling, Inc., the “Parties” and each individually, a “Party”). 

RECITALS 
 WHEREAS, on
July 26, 2021, Avenue commenced an action in the Court of Chancery of the State of Delaware (the “Court”), captioned Avenue Capital Management II, L.P., et al. v. Diamond Offshore Drilling, Inc., C.A. No. 2021-0653-JRS (the “Litigation”); 
 WHEREAS, on August 31, 2021, the Parties agreed
to settle the Litigation, and, on the same day, filed a stipulation of dismissal (the “Stipulation of Dismissal”) that annexed the terms of the settlement (the “Settlement Agreement”); 

WHEREAS, on September 1, 2021, the Court granted the Stipulation of Dismissal and So Ordered the Settlement Agreement; 

WHEREAS, on November 18, 2021, Avenue hand-delivered to the Company a Notice of Nominations for Election to the Board of Directors (the
“Board”) of Diamond Offshore Drilling, Inc. (the “Nominations Notice”); 
 WHEREAS, on November 30,
2021, Avenue filed a Motion to Enforce Settlement Agreement in the Litigation (the “Motion to Enforce”); 
 WHEREAS, the
Company opposed the Motion to Enforce; 
 WHEREAS, on December 9, 2021, the Court heard argument and ordered that the Motion to Enforce
be decided on an expedited basis after an evidentiary hearing (the “Hearing”); 
 WHEREAS, the Hearing is scheduled for
January 7, 2022; 
 WHEREAS, on December 27, 2021, the Company filed a motion to compel the deposition of Sonia Gardner in the
Litigation (the “Motion to Compel”); and 
 WHEREAS, the Parties desire to settle any and all disputes among them relating
to the Litigation, the Nominations Notice, the Motion to Enforce, and the Motion to Compel (collectively, the “Disputes”), without any admissions of guilt, liability, obligation, or otherwise. 

NOW, THEREFORE, each of the Parties hereby agrees and is bound as follows: 

 

	1.	 Incorporation of Recitals. The foregoing recitals are incorporated herein as if set forth in full below
and are intended to constitute material terms of this Agreement. 

  
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	2.	 Settlement Terms. 

 

	 	a.	 On the Effective Date, the Nominations Notice shall be deemed withdrawn. 

 

	 	b.	 Within one (1) business day of the Effective Date, the Parties will file a stipulation withdrawing all
pending motions in the Litigation. Avenue agrees to withdraw its Motion to Enforce with prejudice, and the Company agrees to withdraw its Motion to Compel as moot. 

 

	 	c.	 Releases 

  

	 	i.	 Upon the Effective Date, the Parties, each on their own behalf and on behalf of any and all of their past,
present and future officers, directors, principals, partners, affiliates, entities, shareholders, members, managers, advisors, associates, staff, employees, agents, indemnitors, insurers, heirs, executors, counsel, of counsel, inside and outside
attorneys and legal representatives, and each of their predecessors, successors, assigns, and all persons and entities claiming by or through them or on their behalf, whether by statute, rule, contract or otherwise, hereby now and forever fully,
finally, irrevocably, and unconditionally release, settle, remise, acquit, relinquish, and discharge the other Party, and any and all of their past, present and future officers, directors, principals, partners, affiliates, entities, shareholders,
members, managers, advisors, associates, staff, employees, agents, indemnitors, insurers, heirs, executors, counsel, of counsel, inside and outside attorneys and legal representatives, and each of their predecessors, successors, assigns, and all
persons and entities claiming by or through them or on their behalf, whether by statute, rule, contract or otherwise, for and from any and all Claims arising out of or relating to the Disputes, provided, however, Avenue does not release any Claims
relating to an Extraordinary Transaction. 

  

	 	d.	 From the Effective Date until the one-year anniversary of the Effective
Date, if either Raj Iyer or Ane Launy ceases to be a director of the Company for any reason, including resignation, disqualification, retirement, removal, or other cause, the Company shall appoint to the Board, pursuant to Article VI.D of the Third
Amended and Restated Certificate of Incorporation of Diamond Offshore Drilling, Inc. (the “Charter”) and Section 3.4 of the Second Amended and Restated Bylaws of Diamond Offshore Drilling, Inc. (the “Bylaws”),
an individual designated by Avenue (the “Avenue Designee”) provided that Avenue Designee must be an employee of Avenue or its affiliates other than Kiran Ramineni. If Matthew Kimble is employed by Avenue at the time of such vacancy,
he will be the Avenue Designee. The Avenue Designee shall fill the vacancy created by Raj Iyer or Ane Launy and shall serve on the Board only for so long as Raj Iyer or Ane Launy, respectively, would have served on the Board. In the event that any
provision of the Charter or Bylaws conflict with the terms of this Section 2(d), the Company agrees to waive that provision of the Charter or Bylaws to the extent allowed under applicable law; provided, however, that the Avenue Designee shall
be required to 

  
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provide to the Company such information and documentation as is typically required of prospective directors in connection with the customary onboarding process. Avenue shall have the right to
designate only one director for appointment to the Board pursuant to this Agreement, even if both Raj Iyer and Ane Launy cease to be a director of the Company during the one-year period from the Effective Date
specified in this Section 2(d). This Section 2(d) shall only apply if Avenue owns (either as record or beneficial owner) at least 5% of the Company at the time such vacancy is created. 

 

	 	e.	 During the Standstill Period, Avenue shall, and shall cause its subsidiaries, representatives or controlled
affiliates, to (i) cause, in the case of all Voting Stock of the Company owned of record, and (ii) instruct the record owner, in the case of all Voting Stock of the Company beneficially owned (within the meaning set forth in Rule 13d-3 of the rules and regulations promulgated under the Securities Exchange Act) but not owned of record, directly or indirectly, by them, as of the record date for any applicable meeting of the Company’s
stockholders (whether annual or special and whether by vote or written consent) at which directors are elected, in each case that are entitled to vote at such applicable meeting or at any adjournments or postponements thereof, to be present for
quorum purposes, and to be voted for all directors nominated by the Board for election at all such meetings; provided, that Avenue shall be permitted to vote in its sole discretion with respect to any publicly announced proposals relating to an
Extraordinary Transaction. 

  

	 	f.	 Each Party shall bear its own fees and expenses in connection with the Disputes. 

 

	 	g.	 Until the later of (a) January 21, 2023 or (b) when the Avenue Designee ceases to be a member of
the Board, Avenue will refrain from knowingly encouraging, counseling, or assisting Ane Launy or Raj Iyer (or any of their attorneys) in the assertion of any Claims against the Company or the Board. Provided, however, that nothing in this Agreement
shall prohibit or prevent Avenue from complying with any court order, subpoena, or other compulsory legal or regulatory process. For the avoidance of doubt, the releases in Section 2(c) do not cover Claims, if any, by Diamond Offshore Drilling,
Inc. against Raj Iyer or Ane Launy. 

  

	 	h.	 Avenue hereby withdraws its demand made on December 13, 2021, for a list of the Company’s
stockholders and access to the Company’s books and records under Section 220 of the Delaware General Corporation Law. 

  

	 	i.	 Until the earlier to occur of (i) the date that is thirty (30) calendar days prior to the deadline
for the submission of stockholder nominations of director candidates for the Company’s annual meeting of stockholders occurring in 2023, and (ii) the public announcement of an Extraordinary Transaction (the “Standstill
Period”), Avenue and its subsidiaries, representatives or controlled affiliates shall not, directly or indirectly, individually, or in conjunction with any other person, without the prior written consent of the Company:

  
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	 	i.	 make, or in any way participate, directly or indirectly, in any “solicitation” of “proxies”
to vote (as such terms are used in the rules of the SEC), or seek to advise or influence any person with respect to the voting of, any Voting Stock of the Company, in each case with respect to the election of directors of the Company;

  

	 	ii.	 instigate, advise, direct, encourage, join, act in concert with or assist (including, but not limited to,
providing or assisting in any way in the obtaining of financing for, or acting as a joint or co-bidder) any third party (including forming, joining or in any way participating in a 13D Group with any such
third party) to do, or enter into any discussions or agreements with any third party with respect to, any of the actions prohibited by this Section 2(i); 

 

	 	iii.	 except for the exercise of designation rights provided in Section 2(d) of this Agreement, otherwise act,
alone or in concert with others, to seek representation on the Board or to seek the removal of any member of the Board, or otherwise control or make a public proposal or public statement to influence the management of the Company, the Board or
policies of the Company (including by proposing any nominee for election to the Board); 

  

	 	iv.	 (A) call or seek to call any meeting of stockholders, including by written consent, or provide to any
third party a proxy, consent or requisition to call any meeting of stockholders, (B) seek to have the stockholders authorize or take corporate action by written consent without a meeting, or solicit any proxies or consents from stockholders,
(C) conduct a referendum of stockholders or (D) make a request for a stockholder list or other records of the Company; 

  

	 	v.	 grant any proxy, consent or other authority to vote with respect to any matters (other than to the named
proxies included in the Company’s proxy card for an annual meeting or a special meeting) or deposit any of the Voting Stock (or any securities convertible, exchangeable for or otherwise exercisable to acquire such Voting Stock) held by Avenue
or its subsidiaries, representatives or controlled affiliates in a voting trust or subject them to a voting agreement or other arrangement of similar effect (including, lending any securities of the Company to any person for the purpose of allowing
such person to vote such securities in connection with any stockholder vote or consent of the Company, but excluding customary brokerage accounts, margin accounts, prime brokerage accounts and the like, in each case, of Avenue), in each case with
respect to the election of directors of the Company; 

  

	 	vi.	 institute, solicit, assist or join, as a party, any litigation, arbitration, proceeding or Claim against or
involving the Company or any of its current or former directors or officers (including derivative actions); 

  
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	 	vii.	 make any request under Section 220 of the Delaware General Corporation Law; 

 

	 	viii.	 request the Company or any of its representatives, directly or indirectly, to amend or waive any provision of
this Section 2(i); 

  

	 	ix.	 direct, instruct, assist or encourage any of their respective subsidiaries, representatives or controlled
affiliates to take any of the actions prohibited by this Section 2(i); or 

  

	 	x.	 take any action which would reasonably be expected to require the Company or any of its affiliates to make a
public announcement regarding any of the actions prohibited by this Section 2(i). 

 Notwithstanding anything in this
Agreement to the contrary, the foregoing provisions of this Section 2(i) shall not be deemed to restrict Avenue from communicating privately with the Board or any of the Company’s officers regarding any matter, so long as such
communications are not intended to, and would not reasonably be expected to, require any public disclosure of such communication. 
  

	3.	 Miscellaneous. 

 

	 	a.	 No Admission of Liability. The execution of this Agreement and the fulfillment of its terms is not, and
shall not be construed as, an admission of liability, fault, or wrongdoing of any kind by any Party. 

  

	 	b.	 Non-Disparagement. During the Standstill Period, each of the
Parties agrees not to make, or cause to be made, by press release or similar public statement, including to the press or media, or in an SEC filing or dissemination to the Company’s stockholders, any statement or announcement that disparages
(as distinct from objective statements reflecting business criticism) the other Party, its officers or its directors or any person who has served as an officer or director of such other Party in the past. 

 

	 	c.	 Amendment. No provision or term herein may be amended, modified, or otherwise changed except by
instrument in writing, specifying the same, duly executed by each of the Parties. 

  

	 	d.	 Assigns. This Agreement and all rights and obligations hereunder shall inure to the benefit of and shall
be binding on the Parties and their respective successors and assigns. 

  

	 	e.	 Heading References. The heading references herein are for convenience purposes only, do not constitute a
part of this Agreement, and shall not be deemed to limit or affect any of the provisions hereof. 

  
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	 	f.	 Severability. Should any portion of this Agreement be held invalid by operation of law or by a court
with proper jurisdiction, the remaining portion of this Agreement shall be given full force and effect and shall not in any way be affected thereby. 

  

	 	g.	 Entire Agreement. This Agreement and the Settlement Agreement represent the entire understanding and
agreement among the Parties with respect to the settlement of the Disputes. Each of the Parties acknowledges that it has not relied upon any representations by any other Party or anyone acting on behalf of any Party in entering into this Agreement.

  

	 	h.	 Counterparts. This Agreement may be executed in as many counterparts as may be convenient or required.
It shall not be necessary that the signature of, or on behalf of, each party, or that the signature of all persons required to bind any party, appear on each counterpart. Signatures to this Agreement, any amendment hereof and any notice given
hereunder, transmitted by telecopy or PDF, and the photocopy of any signature page, shall be valid and effective to bind the party so signing. All such counterparts shall collectively constitute a single instrument. 

 

	 	i.	 Applicable Law; Jurisdiction. This Agreement shall be construed and enforced in accordance with the laws
of the State of Delaware, without regard to the conflict of laws provisions thereof. Each of the Parties (i) irrevocably agrees that any legal action or proceeding arising out of or relating to this Agreement brought by any Party or its
successors or assigns against any other Party shall be brought and determined in the Delaware Chancery Court, and irrevocably waives any objection which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably
submits to the non-exclusive jurisdiction of such court in any suit, action or proceeding, and (ii) expressly accepts the non-exclusive jurisdiction of such court in respect of any such suit, action or proceeding. Each of the Parties further
agrees that notice as provided herein shall constitute sufficient service of process and the Parties further waive any argument that such service is insufficient. Each of the Parties hereby irrevocably and unconditionally waives, and agrees not to
assert, by way of motion or as a defense, counterclaim or otherwise, in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby, (a) any claim that it is not personally subject to the
jurisdiction of the Delaware Chancery Court for any reason, (b) that it or its property is exempt or immune from jurisdiction of such court or from any legal process commenced in such court (whether through service of notice, attachment prior
to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (c) that (i) the suit, action or proceeding in such court is brought in an inconvenient forum, (ii) the venue of such suit, action or
proceeding is improper or (iii) this Agreement, or the subject matter hereof, may not be enforced in or by such court. 

  
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	 	j.	 Waiver. Any provision hereof may be waived only by written instrument making specific reference to this
Agreement signed by the Party against whom enforcement of any such waiver is sought. The waiver by any Party hereto of a breach of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or
as a waiver of any other or subsequent breach. No failure on the part of any Party to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of such
right, power or remedy by such Party preclude any other or further exercise thereof or the exercise of any other right, power or remedy. 

  

	 	k.	 Interpretation. The words “including,” “includes” and “include” mean,
respectively, “including, without limitation,” “includes, without limitation” and “include, without limitation.” References to sections are to sections in this Agreement and in each case include references to all
subsections under the referenced section. The words “hereof,” “herein” and “hereunder” and words of similar import shall refer to all applicable provisions of this document and not to any particular provision unless
reference is made to a particular such provision. This Agreement is the result of negotiation and, accordingly, no presumption or burden of proof will arise with respect to any ambiguity or question of intent concerning this Agreement favoring or
disfavoring any party to this Agreement by virtue of the authorship of any provision of this Agreement. Words denoting the singular tense or person shall include the plural and vice versa and references to the masculine gender shall, where the
context permits, include the feminine and/or neuter genders and vice versa. 

  

	 	l.	 Jointly Drafted. The Agreement has been reviewed by counsel for the Parties. Each of the Parties,
through its respective legal counsel, has participated in the drafting and negotiation of this Agreement. The Agreement shall be deemed to have been jointly drafted by each of the Parties for the purposes of applying any rule of contract
construction.

  

	 	m.	 Effectuation of Agreement. From and after the execution of this Agreement, each of the Parties shall use
such Party’s reasonable efforts to take all action and to do all things necessary to consummate the transactions contemplated hereby, including to prepare, execute and deliver any further instrumentations or documents and to take or cause to be
taken such other and further action as any other Party hereto shall reasonably request. 

  

	 	n.	 Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or remedy
accruing to any Party upon any breach or default of any other Party under this Agreement shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach or default, or any acquiescence therein, or of any
similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. It is further agreed that any waiver, permit, consent or
approval of any kind or character of any breach or default under this Agreement, or any waiver of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent specifically set forth in writing, and that
all remedies, either under this Agreement, by law or otherwise, shall be cumulative and not alternative. 

  
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	 	o.	 SPECIFIC PERFORMANCE. EACH PARTY AGREES THAT MONEY DAMAGES WOULD NOT BE A SUFFICIENT REMEDY FOR A BREACH
OR A THREATENED BREACH OF THIS AGREEMENT AND THAT EACH PARTY SHALL BE ENTITLED TO SPECIFIC PERFORMANCE AND INJUNCTIVE OR OTHER EQUITABLE RELIEF, WITHOUT THE POSTING OF A BOND OR OTHER SECURITY, AS A REMEDY FOR ANY SUCH BREACH OR THREATENED BREACH,
IN ADDITION TO ALL OTHER REMEDIES AVAILABLE AT LAW OR IN EQUITY. SUCH INJUNCTIVE OR OTHER EQUITABLE RELIEF SHALL BE AVAILABLE WITHOUT THE OBLIGATION TO PROVE ANY DAMAGES UNDERLYING SUCH BREACH OR THREATENED BREACH. 

 

	 	p.	 Definitions. Unless the context otherwise requires, the following terms, for all purposes of this
Agreement, shall have the meanings specified as follows: 

  

	 	i.	 “13D Group” means any group of Persons formed for the purpose of acquiring, holding, voting or
disposing of Voting Stock (or any securities convertible, exchangeable for or otherwise exercisable to acquire such Voting Stock) that would be required under Section 13(d) of the Securities Exchange Act, and the rules and regulations
promulgated thereunder (assuming for purposes of this Agreement that Section 13(d) is applicable to the Company), to file a statement on Schedule 13D pursuant to Rule 13d-l(a) or Schedule 13G pursuant to
Rule 13d-1(c) with the SEC as a “Person” within the meaning of Section 13(d)(3) of the Securities Exchange Act if such group beneficially owned (within the meaning set forth in Rule 13d-3 of the rules and regulations promulgated under the Securities Exchange Act) Voting Stock representing more than 5% of any class of Voting Stock then outstanding. 

 

	 	ii.	 “Claim” or “Claims” includes any and all claims (including cross-claims,
counterclaims, third-party claims or fourth-party claims), actions, causes of action, allegations, controversies, suits, rights, obligations, debts, demands, agreements, promises, liabilities, damages, and disputes of any kind or nature, including
but not limited to compensatory, punitive or exemplary damages, statutory damages, treble damages, claims for indemnification, contribution, or statutory rights or violations, claims for interest, costs or attorneys’ fees, sanctions, judgments,
losses, charges, and complaints whatsoever, of every kind, nature and description, under any law of any jurisdiction, whether at law, in equity or otherwise, whether based on statute, regulations, common law, civil law or any other type, form or
right of action, and whether foreseen or unforeseen, actual or potential, matured or unmatured, contingent or liquidated, known or unknown, or accrued or not accrued, of every kind and nature. 

  
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	 	iii.	 “Extraordinary Transaction” means any merger, acquisition, tender or exchange offer,
consolidation, reorganization, restructuring, recapitalization, disposition of all or substantially all of the assets of the Company or other business combination involving the Company, in each case, that either results in a change of control of the
Company or requires a vote of stockholders of the Company. 

  

	 	iv.	 “Voting Stock” means shares of common stock of the Company and any other securities of the
Company having the ordinary power to vote in the election of members of the Board. 

 [Remainder of Page
Intentionally Left Blank – Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the undersigned, executed this Agreement below effective as of the
Effective Date. 
  

			
	DIAMOND OFFSHORE DRILLING, INC.
		
	By:	 	 /s/ David L. Roland

		 	 Name:  David L. Roland

		 	 Title:   Senior Vice President, General Counsel and Secretary

	
	AVENUE CAPITAL MANAGEMENT II, L.P.,
	on behalf of itself and AVENUE ENERGY OPPORTUNITIES FUND II AIV, L.P.
	
	By: AVENUE CAPITAL MANAGEMENT II GENPAR, LLC, its general partner
		
	By:	 	 /s/ Matthew Kimble

		 	 Name:  Matthew Kimble

		 	 Title:   Senior Portfolio Manager

  
 10Exhibit 4.14

 

NEITHER
THIS WARRANT NOR THE STOCK FOR WHICH IT MAY BE EXERCISED HAS BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“SECURITIES
ACT”), OR ANY OTHER FEDERAL OR STATE SECURITIES LAW, AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT AS EXPRESSLY
PROVIDED HEREIN.

 

IVEDA
SOLUTIONS, INC.

 

	COMMON
  STOCK PURCHASE WARRANT	 No. IVDA-W-_No_

 

This
certifies that, for value received, Name (“Holder”), is entitled to subscribe for and purchase from Iveda Solutions,
Inc., a Nevada corporation (the “Company”), __Qty_____ shares, subject to adjustment as set forth in Article II below
(“Warrant Shares”), of Common Stock of the Company (“Common Stock”), at the exercise price of _$____ per share,
which price is subject to adjustment as set forth in Article II below (the “Exercise Price”), at any time and from time to
time beginning on the date of this Warrant as set forth below (“Effective Date”), and ending on _Date__ (“Expiration
Date”), upon written notice from the Holder to the Company (“Notice”) and subject to the terms provided herein.

 

This
Warrant is subject to the following provisions, terms and conditions:

 

ARTICLE
I.

EXERCISE; RESERVATION OF SHARES

 

Section
1.01 Warrant Exercise. The rights represented by this Warrant may be exercised by the Holder at any time and from time to time
after the Effective Date and prior to the expiration of this Warrant, upon Notice, by the surrender at the principal office of the Company
of this Warrant together with a duly executed subscription in the form annexed hereto as Exhibit A (“Subscription Form”)
and accompanied by payment, in certified or immediately available funds, of the Exercise Price for the number of Warrant Shares specified
in the Subscription Form. The shares so purchased shall be deemed to be issued to the Holder as the record owner of such shares as of
the close of business on the date on which this Warrant shall be exercised as hereinabove provided. No fractional shares or scrip representing
fractional shares shall be issued upon exercise of this Warrant and the number of shares that shall be issued upon such exercise shall
be rounded to the nearest whole share without the payment or receipt of any additional consideration.

 

    	 

     

    

 

Section
1.02 Certificates. Certificates for the shares purchased pursuant to Section 1.01 shall be delivered to the Holder within ten
(10) days after the rights represented by this Warrant shall have been so exercised, and a new Warrant in the name of the Holder representing
the rights, if any, that shall not have been exercised prior to the Expiration Date with respect to this Warrant shall also be delivered
to such Holder within such time, with such new Warrant to be identical in all other respects to this Warrant. The Holder shall for all
purposes be deemed to have become the holder of record of the Warrant Shares on the date this Warrant was exercised (the date the Holder
has fully complied with the requirements of Section 1.01), irrespective of the date of delivery of the certificate or certificates representing
the Warrant Shares; provided that, if the date such exercise is made is a date when the stock transfer books of the Company are closed,
such person shall be deemed to have become the holder of record of the Warrant Shares at the close of business on the next succeeding
date on which the stock transfer books are open. The term “Warrant,” as used herein, includes any Warrants into which this
Warrant may be divided or combined and any subsequent Warrants issued upon the transfer or exchange or reissuance upon loss hereof.

 

Section
1.03 Company Covenants. The Company represents, warrants, covenants and agrees:

 

(a) That
all shares of Common Stock that may be issued upon exercise of this Warrant will, upon issuance, be validly issued, fully paid and nonassessable
and free from all taxes, liens and charges with respect to the issue thereof; and

 

(b) That
during the period the rights represented by this Warrant may be exercised, the Company will at all times have authorized, and reserved
for the purpose of issue and delivery upon exercise of the rights evidenced by this Warrant, a sufficient number of shares of Common
Stock to provide for the exercise of the rights represented by this Warrant.

 

ARTICLE
II.

ADJUSTMENTS

 

Section
2.01 Adjustment Events.

 

(a) Capital
Events. If any reorganization or reclassification of the capital stock of the Company, or any consolidation or merger of the Company
with another corporation, or the sale of all or substantially all of its assets to another corporation (in any instance, a “Capital
Event”) shall be effected in such a way that holders of Common Stock shall be entitled to receive stock, securities or assets (including
cash) with respect to or in exchange for their Common Stock, then, as a condition of such Capital Event, lawful and adequate provisions
shall be made whereby the Holder hereof shall thereafter have the right to purchase and receive upon the basis and upon the terms and
conditions specified in this Warrant and in lieu of the shares of the Common Stock of the Company immediately theretofore purchasable
and receivable upon the exercise of the rights represented hereby, an amount of such shares of stock, securities or assets (including
cash) as may have been issued or payable with respect to or in exchange for a number of outstanding shares of such Common Stock equal
to the number of shares of such stock immediately theretofore purchasable and receivable upon the exercise of the rights represented
hereby had such Capital Event not taken place.

 

    	 	2	 

     

    

 

(b) Preservation
of Value. In the case of any Capital Event, appropriate provision shall be made with respect to the rights and interests of the Holder
of this Warrant to the end that the provisions hereof (including, without limitation, provisions for adjustment of the number of shares
that may be issued upon exercise of this Warrant and the Exercise Price hereof) shall thereafter be applicable, as nearly as may be,
in relation to any shares of stock, securities or assets (including cash) thereafter deliverable upon the exercise of the rights represented
hereby.

 

(c) Obligation
Expressly Assumed. The Company shall not effect any consolidation, merger or sale of all or substantially all of its assets, unless
prior to the consummation thereof the successor corporation (if other than the Company) resulting from such consolidation or merger,
or the corporation into or for the securities of which the previously outstanding stock of the Company shall be changed in connection
with such consolidation or merger, or the corporation purchasing such assets, as the case may be, shall assume by written instrument
executed and mailed or delivered to the registered Holder at the last address of such Holder appearing on the books of the Company, the
obligation to deliver to such Holder, upon exercise of this Warrant, such shares of stock, securities or assets (including cash) as,
in accordance with the foregoing provisions, such Holder may be entitled to purchase.

 

Section
2.02 Subdivision or Combination of Stock. In the event that the Company shall at any time subdivide or split its outstanding
shares of Common Stock into a greater number of shares, the number of Warrant Shares subject to issuance upon exercise of this Warrant
at the opening of business on the day upon which such subdivision becomes effective shall be proportionately increased. In the event
that the outstanding shares of Common Stock of the Company shall be combined into a smaller number of shares, the number of shares subject
to issuance upon exercise of this Warrant at the opening of business on the day upon which such subdivision becomes effective shall be
proportionately decreased. Any such increase or decrease, as the case may be, shall become effective immediately after the opening of
business on the day following the day upon which such subdivision or combination, as the case may be, becomes effective.

 

Section
2.03 Stock Dividends. In the event that the Company shall at any time declare any dividend or distribution upon its Common
Stock payable in stock, the number of Warrant Shares subject to issuance upon exercise of this Warrant shall be increased by the number
(and the kind) of shares which would have been issued to the holder of this Warrant if this Warrant were exercised immediately prior
to such dividend. Such increase shall become effective immediately after the opening of business on the day following the record date
for such dividend or distribution.

 

Section
2.04 Treasury Shares. The number of shares of Common Stock outstanding at any given time shall not include shares of the Company
owned or held by or for the account of the Company.

 

    	 	3	 

     

    

 

Section
2.05 Minimum Adjustment. No adjustment in the number of shares that may be issued upon exercise of this Warrant as provided
in this Article II shall be required unless such adjustment would require an increase or decrease in such number of shares of at least
one percent (1%) of the then adjusted number of shares of Common Stock that may be issued upon exercise of this Warrant; provided, however,
that any such adjustments that by reason of the foregoing are not required to be made shall be carried forward and taken into account
and included in determining the amount of any subsequent adjustment; and provided further, that if the Company shall at any time subdivide
or combine the outstanding shares of Common Stock or issue additional shares of Common Stock as a dividend, said percentage shall forthwith
be proportionately adjusted so as to appropriately reflect the same.

 

Section
2.06 Adjustment of Exercise Price. Whenever the number of shares of Common Stock that may be issued upon exercise of this Warrant
is adjusted, and effective at the time such adjustment is effective, as provided in Sections 2.01, 2.02 and 2.03 of this Article II,
the Exercise Price shall be adjusted (to the nearest whole cent) by multiplying each such Exercise Price immediately prior to such adjustment
by a fraction (x) the numerator of which shall be the number of shares of Common Stock which may be issued upon the exercise of each
such Warrant immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so
purchasable immediately thereafter. The Company may retain a firm of independent certified public accountants (which may not be the regular
accountants employed by the Company) to make any required computation, and a certificate signed by such firm shall be conclusive evidence
of the correctness of such adjustment.

 

Section
2.07 Record Date. In the event that the Company shall not take a record of the holders of its Common Stock for the purpose
of entitling them to receive a dividend payable in Common Stock, then such record date shall be deemed for the purposes of this Article
II to be the date of the issue or sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such
dividend.

 

Section
2.8 Officer’s Certificate. Whenever the Exercise Price shall be adjusted as provided in this Article II, the Company
shall forthwith file with its Secretary and retain in the permanent records of the Company, an officer’s certificate showing the
adjusted Exercise Price determined as provided in this Article II, setting forth in reasonable detail the facts requiring such adjustment,
including a statement of the number of additional or fewer shares of Common Stock, and such other facts as may be reasonably necessary
to show the reason for and the method of computing such adjustment. Each such officer’s certificate shall be made available at
all reasonable times for inspection by the Holder.

 

Section
2.9 Notice of Adjustment. Upon any adjustment of the number of shares that may be issued upon exercise of this Warrant or the
Exercise Price, the Company shall give notice thereof to the Holder, which notice shall state the increase or decrease, if any, in the
number of shares that may be issued upon the exercise of this Warrant and the Exercise Price, setting forth in reasonable detail the
method of calculation and the facts upon which such calculation is based.

 

    	 	4	 

     

    

 

Section
2.10 Definition of “Common Stock”. As used in this Article II, the term “Common Stock” shall mean and
include all of the Company’s authorized Common Stock of any class as constituted on the Effective Date, and shall also include
any capital stock of any class of the Company thereafter authorized that shall not be limited to a fixed sum or stated value in respect
of the rights of the holders thereof to participate in dividends or the distribution of assets upon the voluntary or involuntary liquidation,
dissolution or winding up of the Company.

 

ARTICLE
III.

TRANSFER RESTRICTIONS

 

Section
3.01 Securities Law Transfer Restrictions. By taking and holding this Warrant, the Holder (i) acknowledges that neither this
Warrant nor any shares of Common Stock that may be issued upon exercise of this Warrant have been registered under the Securities Act
or any applicable state securities or blue sky law (collectively, “Securities Laws”); (ii) agrees not to sell, transfer or
otherwise dispose of this Warrant, and agrees not to sell, transfer or otherwise dispose of any such shares of Common Stock without registration
unless the sale, transfer or disposition of such shares can be effected without registration and in compliance with the Securities Laws;
and (iii) agrees not to sell, transfer or otherwise dispose of this Warrant or any portion thereof or interest therein except as otherwise
expressly permitted herein. No part of this Warrant or any portion thereof or interest therein may be transferred, whether voluntarily,
involuntarily or by operation of law, except to a Permitted Transferee as hereinafter defined. “Permitted Transferee” shall
mean a transferee or assignee that (a)(i) is an entity as to which the Holder is the beneficial owner of at least a majority of the equity
therein and the Holder has voting control thereover, (ii) is a member of the Holder’s family or a trust for the benefit of an individual
Holder or (iii) a successor by inheritance or intestate succession to any interest in this Warrant or any portion thereof and (b) accepts
by written instrument reasonably acceptable to the Company each of the terms and conditions that govern this Warrant. Any certificate
for shares of Common Stock issued upon exercise of this Warrant shall bear an appropriate legend describing the foregoing restrictions,
unless such shares of Common Stock have been effectively registered under the applicable Securities Laws.

 

Section
3.02 Provision of Information by Holder. The Holder shall make available to the Company such written information, presented
in form and content satisfactory to the Company, as the Company may reasonably request, from time to time, in order to make the determination
provided for in Section 3.01.

 

ARTICLE
IIV.

MISCELLANEOUS

 

Section
4.01 Transfer of Warrants. No right or interest in this Warrant shall be transferable except as provided in Article III.

 

    	 	5	 

     

    

 

Section
4.02 Notices. Any notice or communication to be given pursuant to this Warrant shall be in writing and shall be delivered in
person or by certified mail, return receipt requested, in the United States mail, postage prepaid. Notices to the Company shall be addressed
to the Company’s principal office. Notices to the Holder shall be addressed to the Holder’s address as reflected in the records
of the Company. Notices shall be effective upon delivery in person, or, if mailed, at midnight on the fifth business day after mailing.

 

Section
4.03 No Shareholder Rights. This Warrant shall not entitle the Holder to any voting rights or other rights as a shareholder
of the Company.

 

Section
4.04 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Arizona.

 

Section
4.05 Headings; Interpretation. The section headings used herein are for convenience of reference only and are not intended
to define, limit or describe the scope or intent of any provision of this Warrant. When used in this Warrant, the term “including”
shall mean “including, without limitation.”

 

Section
4.06 Successors. The covenants, agreements and provisions of this Warrant shall bind the parties hereto and their respective
successors and permitted assigns.

 

Section
4.07 Integrated Agreement; Modification. This Warrant is a complete statement of the agreement of the parties with respect
to the subject matter hereof and may be modified only by written instrument executed by the parties.

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be issued effective as of the __Issue Date_______.

 

	 	Iveda
    Solutions, inc. a Nevada corporation
	 	 
	 	By:
	 	 
	 	David
    Ly, CEO

 

    	 	6	 

     

    

 

Exhibit
A

 

SUBSCRIPTION
FORM

 

(To
be Executed only upon Exercise of Warrant)

 

The
undersigned registered owner of this Warrant irrevocably exercises this Warrant and purchases __________ shares of Common Stock of Iveda
Solutions, Inc., a Nevada corporation, that may be issued under this Warrant and herewith delivers the sum of $____________ in full payment
of the Exercise Price for such shares, all on the terms and conditions specified in this Warrant. Such shares are to be delivered to
such holder at the address reflected in the records of the Company unless contrary instructions are herein given.

 

Deliver
certificates to:

 

	 	 	 
	Dated:	 	 	 
	 	 	(Signature
    of Registered Owner)
	 	 	 
	 	 	(Street
    Address)
	 	 	 
	 	 	(City)
    (State) (Zip Code)

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