Document:

Exhibit 10.2

 

ISPECIMEN INC.

 

2013
STOCK INCENTIVE PLAN

 

1.             Purpose & Eligibility 

 

The purpose of this
2013 Stock Incentive Plan (the “Plan”) of iSpecimen 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/or performance-based incentives. Except where the context otherwise requires, the term “Company” shall include
any present or future subsidiary corporations of the Company, as defined in Section 424(e) or (f) of the Internal Revenue Code
of 1986, as amended, and any regulations promulgated thereunder (the “Code”) (a “Subsidiary”
or “Subsidiaries”) and, for purposes of Awards (as hereinafter defined) other than Incentive Stock Options (as hereinafter
defined), any other business venture (including, without limitation, joint venture or limited liability company) in which the Company
has a direct or indirect significant or controlling interest, as determined by the sole discretion of the Board of Directors of
the Company (the “Board”).

 

Under this Plan, all
of the Company’s Employees, officers, consultants, advisors, and directors (including directors who are not Employees or
officers of the Company (“Non-Employee Directors”) are eligible to be granted Incentive Stock Options and Nonqualified
Stock Options (as hereinafter defined) to purchase common stock in the Company (“Common Stock”), shares of restricted
stock, restricted stock units (“RSUs”), stock issuances, stock appreciation rights, equity interests, and other stock-based
awards (each, an “Award”) under the Plan. Any person to whom an Award has been granted, sold, or otherwise provided
or who receives an Award under the Plan is deemed a “Participant”. “Employee,” for purposes of eligibility
under the Plan, shall include a person to whom an offer of employment has been extended by the Company and who has actually accepted
and commenced employment with the Company, in accordance with the conditions set forth in the offer of employment.

 

2.             Administration

 

(a)           Administration by Board of Directors. The Plan will be administered by the Board of Directors of the Company (the
 “Board”). The Board, in its sole discretion, shall have the authority to grant and amend Awards, to adopt, amend
and repeal rules relating to the Plan, and to interpret and correct the provisions of the Plan and any Award. The Board shall have
authority to construe, determine, and interpret the respective agreements, Awards and the Plan; to prescribe, amend and rescind
rules and regulations relating to the Plan and any Awards; to determine the terms and provisions of the respective agreements and
Awards, which need not be identical; and to make all other determinations that, in the judgment of the Board of Directors, are
necessary or desirable for the administration and interpretation of the Plan. The Board may correct any defect or supply any omission
or reconcile any inconsistency or ambiguity in the Plan or in any agreement or Award in the manner and to the extent it shall deem
expedient to implement the Plan, any agreement or Award and it shall be the sole and final judge of such expediency. All decisions
by the Board shall be final and binding on all interested persons. Neither the Company nor any member of the Board shall be liable
for any action or determination relating to the Plan.

 

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The Board shall have
the full and final power and authority, in its discretion, without the need for shareholders approval, unless such approval is
required to comply with applicable laws: 1) to determine the persons to whom, and the time or times at which, Awards shall be granted
and to grant the Awards; 2) to designate the form of an Award and, in the case of any Options (as hereinafter defined), designate
such Options as Incentive Stock Options or Non-Qualified Stock Options; 3) to determine the Fair Market Value (as hereinafter defined)
of the Common Stock or other property; 4) to determine the terms, conditions and restrictions applicable to each Award (which need
not be identical) and any Common Stock issued upon the exercise thereof, including, without limitation, (i) the exercise price
of any Award, (ii) the method of payment for shares purchased upon the exercise of any Award, (iii) the method for satisfaction
of any tax withholding obligation arising in connection with any Award or the Common Stock issued upon the exercise thereof, including
by the withholding or delivery of Common Stock, (iv) the timing, terms and conditions of the exercisability of any Award and the
vesting schedule thereof, (v) the time of the expiration of any Award, Award eligibility, or Award restrictions, and (vi) all other
terms, conditions and restrictions applicable to any Award, not inconsistent with the terms of the Plan or applicable law; 5) to
prescribe the form or forms of the instruments evidencing Awards granted under the Plan; 6) to amend, modify, extend, cancel, or
renew any Award or to waive any restrictions or conditions applicable to any Awards; 7) to accelerate, continue, extend, or defer
the exercisability of any Awards or the vesting schedule thereof, including with respect to the period following a Participant’s
termination of employment or engagement; 8) to change, amend, or modify the exercise price of any Option, to re-price Options,
including following their grant; 9) to grant to the holder of an outstanding Option, in exchange for the surrender and cancellation
of such Option, a new Option having a purchase price equal to, lower than or higher than the exercise price provided in the Option
so surrendered and canceled, and containing such other terms and conditions as the Board may prescribe in accordance with the provisions
of the Plan; 10) to prescribe, amend, or rescind rules, guidelines and policies relating to the Plan, or to adopt supplements to,
or alternative versions of, the Plan, including, without limitation, as the Board deems necessary or desirable to comply with the
laws of, or to accommodate the tax policy or custom of, foreign jurisdictions whose citizens may be granted Awards; and 11) to
correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award agreement and to make all other
determinations and take such other actions with respect to the Plan or any Award as the Board may deem advisable to the extent
not inconsistent with the provisions of the Plan or applicable law.

 

(b)           Appointment of Committee. 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”). Such Committee shall
be composed of at least two (2) members. All references in the Plan to the “Board” shall mean such Committee
or the Board.

 

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(c)           Delegation to Executive Officers. To the extent permitted by applicable law, the Board may delegate to one or more
officers of the Company the power to grant Awards and exercise such other powers under the Plan as the Board may determine; provided,
however, that the Board shall fix the maximum number of Awards to be granted and the maximum number of shares issuable to any
one Participant pursuant to Awards granted by such officer or officers. All such Awards shall be documented in the manner and fashion
as determined by the Board. The Board may, by a resolution adopted by the board, authorize one or more officers of the Company
to do one or both of the following: (i) designate officers, Employees, advisors and/or consultants of the Company or of any of
its Subsidiaries to be recipients of Awards created by the Company and (ii) determine the number of such Awards to be received
by such officers, Employees, advisors and/or consultants; provided, however, that the resolution so authorizing such persons
shall specify the maximum number of Awards such persons may so award. The Board may not authorize an officer to designate himself
or herself as a recipient of any such Awards.

 

The Board shall be
authorized to (i) delegate responsibility for Plan operation, management, and administration on such terms, consistent with the
Plan, as the Board may establish; (ii) delegate to other persons the responsibility for performing ministerial acts in furtherance
of the Plan's purpose; and (iii) engage the services of persons or organizations in furtherance of the Plan's purpose, including
but not limited to banks, insurance companies, brokerage firms and consultants.

 

(d)           Applicability of Rule 16b-3. Those provisions of the Plan that expressly refer to Rule 16b-3 promulgated under
the Securities and Exchange Act of 1934 (the “Exchange Act”) or, any successor rules (“Rule 16b-3”)
or which are required in order for certain option transactions to qualify for exemption under Rule 16b-3 shall apply only to such
persons as are required to file reports under Section 16 (a) of the Exchange Act (a “Reporting Person”).

 

(e)           Grant of Awards to Directors and Officers. If the Company is a reporting company under the Exchange Act, the selection
of a director or an officer (as the terms “director” and “officer” are defined for purposes of Rule 16b-3)
as a Participant, the timing of the grant of the Award, the exercise price or sale price of the Award and the number of shares
for which an Award may be granted to such director or officer shall be determined either (i) by the Board, of which all members
shall be “disinterested persons” (as hereinafter defined), or (ii) by a committee of two or more directors having full
authority to act in the matter, of which all members shall be “disinterested persons.” For the purposes of the Plan,
a director shall be deemed to be “disinterested” only if such person qualifies as a “disinterested person”
within the meaning of Rule 16b-3 of the Exchange Act, as such term is interpreted from time to time.

 

(f)            Liability and Indemnification. The Board, the Committee, their members and any person designated above shall not
be liable for any action or determination made in good faith with respect to the Plan. To the maximum extent permitted by applicable
law, no officer of the Company or member or former member of the Committee or of the Board shall be liable for any action or determination
made in good faith with respect to the Plan or any Option granted under it. To the maximum extent permitted by applicable law and
the Certificate of Incorporation and Bylaws of the Company and to the extent not covered by insurance, each officer and member
or former member of the Committee or of the Board shall be indemnified and held harmless by the Company against any cost or expense
(including reasonable fees of counsel reasonably acceptable to the Company) or liability (including any sum paid in settlement
of a claim with the approval of the Company), and advanced amounts necessary to pay the foregoing at the earliest time and to the
fullest extent permitted, arising out of any act or omission to act in connection with the Plan, except to the extent arising out
of such officer's, member's or former member's own fraud or bad faith. Such indemnification shall be in addition to any rights
of indemnification the officers, directors or members or former officers, directors or members may have under applicable law or
under the Certificate of Incorporation or Bylaws (or other organizational documents) of the Company. Notwithstanding anything else
herein, this indemnification will not apply to the actions or determinations made by an individual with regard to Options granted
to him or her under this Plan.

 

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3.             Stock Available for Awards

 

(a)           Number of Shares. Subject to adjustment under Section 7(a) the aggregate number of shares of Common Stock of the
Company (the “Common Stock”) that may be issued pursuant to the Plan is 1,713,570 shares of Common Stock.
If any Award expires or lapses, or is terminated, repurchased, surrendered or forfeited, or results in any Common Stock not being
issued, in whole or in part, the unissued Common Stock covered by such Award shall again be available for the grant of Awards under
the Plan, subject to the limitations set forth herein. If shares of Common Stock issued pursuant to the Plan are repurchased by,
are surrendered or forfeited to, or are otherwise tendered to the Company (including a surrender or forfeiture of shares to satisfy
any applicable tax withholding obligation), such shares of Common Stock shall again be available for the grant of Awards under
the Plan, subject to all applicable laws. Shares issued under the Plan may consist in whole or in part of authorized but unissued
shares or treasury shares. Subject to adjustment under Section 7(a), no Participant may be granted Awards, over the ten-year term
of this Plan, equating to more than an aggregate of 50% of the shares of Common Stock available under this Plan.

 

(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 3(a), except as may be required by reason of Section 422 and related
provisions of the Code.

 

4.             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 and the Common Stock issued upon the exercise of each Option, including vesting provisions,
repurchase provisions and restrictions relating to applicable federal or state securities laws and any provisions of the Code,
including but not limited to Section 409A of the Code, as it considers advisable.

 

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(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 be granted only to Employees of the Company and shall be subject
to and shall be construed consistently with the requirements of Section 422 of the Code. The Board and the Company shall have
no liability if an Option or any part thereof that is intended to be an Incentive Stock Option does not qualify as such. An Option
or any part thereof that does not qualify as an Incentive Stock Option is referred to herein as a “Nonstatutory Stock
Option” or “Nonqualified Stock Option.” The Board shall establish the exercise price at the time
each Option is granted and specify it in the applicable agreement evidencing the grant of the Option. The strike price per share
of Common Stock, with respect to which each Incentive Stock Option is granted, shall not be less than the Fair Market Valueper
share at the time the Option is granted. No Employee who owns or is deemed to own more than 10% of the voting power of all classes
of the issued and outstanding stock of the Company or any Subsidiary (excluding Common Stock subject to the proposed Option and
Common Stock subject to Options previously granted but not yet exercised in full) shall be eligible for an Incentive Stock Option
grant under the Plan unless (a) the exercise price is equal to at least 110% of the Fair Market Value (at the time the Incentive
Stock Option is granted) of the Common Stock subject to the Incentive Stock Option and (b) the Incentive Stock Option is not exercisable
more than five (5) years from the date it is granted.

 

(c)           Dollar Limitation. For so long as the Code shall so provide, Options granted to any Employee under the Plan (and
any other plans of the Company) which are intended to constitute Incentive Stock Options shall not constitute Incentive Stock Options
to the extent that such Options, in the aggregate, become exercisable for the first time in any one calendar year for shares of
Common Stock with an aggregate Fair Market Value of more than $100,000 (determined as of the respective date or dates of grant).
To the extent that any such Incentive Stock Options exceed the $100,000 limitation, such Options shall be deemed to be Nonstatutory
or Nonqualified Stock Options.

 

(d)           Exercise Price; Duration; Exercise Mechanics. The Board shall establish the exercise price (or determine the method
by which the exercise price shall be determined) at the time each Option is granted and specify the exercise price in the applicable
option agreement and each grant by the Board. Such Option shall be granted at not less than Fair Market Value (or 110% of Fair
Market Value if an Incentive Stock Option is granted to any stockholder who owns beneficially more than 10% of the voting power
of all classes of the issued and outstanding stock of the Company). Options may be exercised only by delivery to the Company, or
to such representative as the Company shall designate, by the proper person of a notice of exercise, in writing or by electronic
transmission, together with payment in full as specified in Section 4(e) or the option agreement for the number of shares for which
the Option is exercised. Any Option must be exercised within three (3) months following termination of the relationship with the
Company, except as otherwise set forth in any applicable option agreement. An Incentive Stock Option may be permitted by its terms
to be exercised after three (3) months following the termination of a Participant’s employment with the Company (or twelve
(12) months in the case of termination due to death or disability (as defined in Section 22(e)(3) of the Code)), but if so exercised,
the Option shall be treated for tax and accounting purposes as a Nonstatutory or Nonqualified Stock Option.

 

(e)           Payment Upon Exercise. Common Stock purchased upon the exercise of an Option shall be paid for by one or any combination
of the following forms of payment:

 

(1)              
by check or other good funds payable to the Company;

 

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(2)              
if the Common Stock is then publicly traded, to the extent permitted by applicable law and except as otherwise explicitly
provided in the applicable option agreement, by delivery of an irrevocable and unconditional undertaking by a creditworthy broker
to deliver promptly to the Company sufficient funds to pay the exercise price of the underlying Option being exercised, or 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; or

 

(3)              
to the extent explicitly provided in the applicable option agreement by (a) delivery of shares of Common Stock owned by
the Participant (including shares acquired pursuant to the then current exercise of an Option) valued at Fair Market Value or (b)
payment of such other lawful consideration as the Board may determine. The Fair Market Value of any other non-cash consideration
which may be delivered upon exercise of an Option shall be determined in such manner as may be prescribed by the Board. The Fair
Market Value shall be determined by the Board, using the guidelines set forth in Section 11(a).

 

5.             Restricted Stock; Restricted Stock Units

 

(a)              
General. The Board may grant Awards entitling recipients to acquire restricted shares of Common Stock (“Restricted
Stock”). 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 Company may cancel all or part of such
shares (without payment) or repurchase from the recipient all or part of such shares at the lower of(i) the original purchase or
issue price to the Participant, or (ii) Fair Market Value Instead of granting Awards for Restricted Stock, the Board may grant
Awards entitling the recipient to receive shares of Common Stock or cash to be delivered at the time such Award vests (“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 any such
Restricted Stock Award, including any and all terms and conditions for vesting, repurchase, and forfeiture. Any stock certificates
issued in respect of a Restricted Stock Award shall be registered in the name of the Participant and, unless otherwise determined
by the Board, deposited by the Participant, together with a stock power endorsed in blank, with the Company (or its designee).
After 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 the beneficiary designated by the Participant,
in a manner determined by the Board, to receive amounts due or exercise rights of the Participant in the event of the Participant's
death (the “Designated Beneficiary”). In the absence of an effective designation by a Participant, Designated
Beneficiary shall mean the Participant's estate.

 

(c)              
Dividends. Participants holding shares of Restricted Stock will be entitled to all ordinary cash dividends paid with
respect to such shares, unless otherwise provided by the Board. Unless otherwise provided by the Board, if any dividends or distributions
are paid in shares, or consist of a dividend or distribution to holders of Common Stock other than an ordinary cash dividend, the
shares, cash or other property will be subject to the same restrictions on transferability and forfeitability as the shares of
Restricted Stock with respect to which they were paid.

 

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(d)              
Unvested Restricted Stock Awards. Within one hundred twenty (120) days of the termination of employment, for
any reason, of a Participant who holds Restricted Stock Awards, the Company shall have the right to purchase from any such Participant
any and all shares of unvested Restricted Stock Awards at the lower of the original purchase or issue price to the Participant,
or the Fair Market Value .

 

6.             Other Stock-Based Awards

 

The Board shall have
the right to 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”), including without
limitation stock appreciation rights (“SARs”), bonus stock, phantom stock awards, stock units, and others Awards entitling
recipients to receive shares of Common Stock to be delivered in the future. 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.
Subject to the provisions of the Plan, the Board shall determine the terms and conditions of each Other Stock-Based Award.

 

7.             Adjustments for Changes in Capital Stock and Certain Other Events

 

(a)              
Changes in Capitalization. In the event of any stock split, reverse stock split, stock dividend, recapitalization,
reorganization, merger, consolidation, combination of shares, reclassification of shares, exchange of shares, liquidation, spin-off,
split-up, or other similar change in capitalization or event, including the acquisition by the Company of property or stock of
an entity, or any dividend or distribution to holders of Common Stock other than an ordinary cash dividend, (i) the number and
class of securities available for Awards under this Plan, (ii) the number and class of securities, vesting schedules, and exercise
price per share of each outstanding Option or Award, (iii) the number of shares subject to and the repurchase price per share subject
to each outstanding Award subject to repurchase, and (iv) the terms of each other outstanding Award may be equitably adjusted by
the Company (or substituted Awards may be made, if applicable) in a manner solely determined by the Board, subject to all applicable
laws. 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 any Participant 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, business combination, consolidation
or purchase of outstanding capital stock of the Company with or into, or any acquisition by, another entity after which the voting
securities of the Company, outstanding immediately prior thereto, represent (either by remaining outstanding or by being converted
into voting securities of the surviving or acquiring entity) less than 50% of the combined voting power of the voting securities
of the Company or such surviving or acquiring entity outstanding immediately after such event (other than as a result of a financing
transaction); (b) any sale or exchange of all or substantially all of the capital stock or assets of the Company (other than in
a spin-off or similar transaction) for cash, securities or other property pursuant to a share exchange transaction; (c) any other
form of business combination or acquisition of the business of the Company in which the Company is the target of the acquisition,
as determined by the Board, whose determination shall be conclusive; or (d) any liquidation or dissolution of the Company.

 

(2)           Consequences of a Reorganization Event on Awards. In connection with a Reorganization Event, unless otherwise
expressly provided in the applicable Award, the Board or the board of directors of the surviving, acquiring, or otherwise controlling
entity (as used in this Section 7(b), also the “Board”) may take any one or more of the following actions, notwithstanding
the effects of any combination of actions on the same basis or on different bases as the Board shall specify, as to all or any
(or any portion of) outstanding Awards other than Restricted Stock Awards on such terms as the Board determines:

 

		(i)	The Board may make appropriate provision for the continuation of such Awards by the Company or
the assumption of such Awards by the surviving, acquiring, or otherwise controlling entity (or any affiliate thereof) and by substituting
on an equitable basis for the shares then subject to such Awards either: (i) the consideration payable with respect to the
outstanding shares of Common Stock in connection with the Reorganization Event (net of the exercise price, if applicable), (ii) shares
of stock of the surviving or acquiring corporation, or (iii) such other securities or consideration as the Board deems appropriate,
the Fair Market Value of which (as determined by the Board in its sole discretion) shall not materially differ from the Fair Market
Value of the shares of Common Stock subject to such Awards immediately preceding the Reorganization Event;

 

For purposes of this section,
an Option or Award shall be considered assumed if, following consummation of the Reorganization Event, the Option or Award confers
the right to purchase, for each share of Common Stock subject to the Option or 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 of Options or
Awards to consist solely of common stock of the acquiring or succeeding corporation (or an affiliate thereof) equivalent in value
(as determined by the Board) to the per share consideration received by holders of outstanding shares of Common Stock as a result
of the Reorganization Event.

 

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		(ii)	The Board may provide that one or more Awards then outstanding 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
within a specified number of days of the date of written notice of the Reorganization Event, at the end of which period such Awards
shall be terminated, cancelled, or forfeited;

 

		(iii)	The Board may provide that one or more Awards then outstanding, in whole or in part, shall be terminated
in exchange for a cash payment equal to the excess of the Fair Market Value of the shares subject to such Awards over the exercise
price thereof; provided, however, that before terminating any portion of an Awards that is not vested or exercisable (other than
in exchange for cash payment), the Board may (in its sole discretion) also accelerate in full the exercisability of the portion
that is to be terminated;

 

		(iv)	The Board may 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 price thereof and any applicable
tax withholdings); or

 

		(v)	The Board may provide any combination of the foregoing.

 

In taking any of the actions permitted
under this Section 7 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. Furthermore, unless otherwise determined by the Board (on the same basis or on different
bases as the Board shall specify), any repurchase rights or other rights of the Company that relate to an Award shall continue
to apply to consideration, including cash, that has been substituted, assumed or amended for an Award pursuant to this Section
7(b). The Company may hold in escrow all or any portion of any such consideration in order to effectuate any continuing restrictions.
 

 

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Notwithstanding anything
in this Plan to the contrary, as to any Participant, unless the acceleration of such vesting is otherwise set forth in any employment
offer letter, employment agreement, or other agreement with such Participant (unless otherwise superseded by an agreement under
which an Award is granted under this Plan), or is otherwise set forth in any agreement which provides for the grant of additional
Awards to a Participant following commencement of employment, or is otherwise expressly set forth by a resolution of the Board,
any unvested portion of any Award shall be forfeited by the Participant in the event of a Reorganization Event.

 

8.             General Provisions Applicable to Awards

 

(a)              
Transferability of Awards. Except as the Board may otherwise determine or provide in an Award, Awards shall not be
sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or by operation
of law, except by will or the laws of descent and distribution, and, during the life of the Participant, shall be exercisable only
by the Participant; provided, however, that only Nonstatutory Options may be transferred to a grantor-retained annuity trust
or a similar estate-planning vehicle in which the trust is bound by all provisions of the Option which are applicable to the Participant,
and subject to the prior written consent of the Board. References to a Participant, to the extent relevant in the context, shall
include references to authorized transferees.

 

(b)              
Documentation. Each Award under the Plan shall be evidenced by a written instrument in such form as the Board
or Committee shall determine or as executed by an officer of the Company pursuant to authority delegated by the Board. Each Award
may contain terms and conditions in addition to those set forth in the Plan, provided that such terms and conditions do not contravene
the provisions of the Plan. The terms of each type of Award need not be identical, and the Board need not treat Participants uniformly.

 

(c)              
Additional Award Provisions. To the extent permitted by applicable law, the Board may, in its sole discretion, include
additional provisions in any Award granted under the Plan, including without limitation restrictions on transfer, repurchase rights,
commitments to pay cash bonuses, to make, arrange for or guarantee loans, to transfer other property to a Participant upon the
exercise of an Award, or such other provisions as shall be determined by the Board; provided, however, that such additional
provisions shall not be inconsistent with any other term or condition of the Plan or applicable law.

 

(d)              
Termination of Status. The Board shall determine the effect on an Award of the disability, death, retirement, 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 under the Award, subject to applicable law and the provisions of the Code related to Incentive Stock Options; provided,
however, that if a Non-Employee Director shall cease to be a member of the Board for any reason other than for Cause (as hereinafter
defined) any Option granted to the Non-Employee Director shall remain exercisable (to the extent such Option was exercisable on
the date the Non-Employee Director ceased to be a member of the Board) until the earlier of: (i) three (3) years after termination
of status as a member of the Board or (ii) expiration of such Option in accordance with this Plan or the option agreement or (iii)
the consummation of a Reorganization Event. In the event that a Participant changes the capacity of his engagement with the Company
(i.e. ceases to be an Employee but becomes a consultant, an advisor, a contractor, or a director, or vice versa) the Board,
in its sole and absolute discretion, may determine that no termination of employment or engagement shall be deemed to occur until
such time as such Participant is no longer a director or otherwise suitably employed or contracted by the Company.

 

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(e)              
Parachute Payments and Parachute Awards. The Company may take reasonable and appropriate actions in its sole discretion,
or in the sole discretion of the Board, to minimize (or eliminate to the extent possible) the impact of any potential excise taxes
under Section 4999 of the Code or any similar provision. Without limiting the generality of the foregoing, the Company shall use
reasonable efforts to solicit in good faith a vote of stockholders so as to comply with the provisions of the stockholder approval
rules under Section 280G(b)(5)(B) of the Code.

 

(f)               
Amendment of Awards. The Board may amend, modify or terminate any outstanding Award including, but not limited to,
substituting therefore another Award of the same or a different type, changing the date of exercise or realization, modifying the
exercise price, and converting an Incentive Stock Option to a Nonstatutory Stock Option, provided that, except as otherwise
provided in Section 7, the Participant's consent to such action shall be required unless the Board determines that the action,
taking into account any related action, would not materially and adversely affect the Participant; provided, however, that no modification
of an Award shall, without the consent of the Participant, alter or impair any of the Participant’s rights or obligations
under such Award.

 

(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 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 any
applicable stock exchange or stock market rules and regulations, (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,
rules or regulations, and (iv) the Participant has undertaken arrangement and satisfaction of any applicable tax withholding obligation.

 

(h)              
Acceleration, Extension. In accordance with Section 7(b), the Board, in its sole discretion, may at any time (including
upon consummation, completion, or closure of a Reorganization Event), (i) accelerate or extend the date or dates on which all or
any particular Options or Awards granted under the Plan may be exercised or (iii) accelerate or extend the date or dates on which
all or any restrictions may be either removed or satisfied for an Award. Such actions shall provide that any Options shall become
immediately exercisable in full or in part, that any Restricted Stock Awards shall be free of some or all restrictions, or that
any other stock-based Awards may become exercisable in full or in part or free of some or all restrictions or conditions, or otherwise
realizable in full or in part, as the case may be, despite the fact that the foregoing actions may (i) cause the application of
Sections 280G and 4999 of the Code if a change in control of the Company occurs, or (ii) disqualify all or part of the Option as
an Incentive Stock Option. In the event of the acceleration of the exercisability of one or more outstanding Awards, and pursuant
to Section 7, the Board may provide, as a condition of full exercisability of any or all such Options, that the Common Stock or
other substituted consideration, including cash, as to which exercisability has been accelerated shall be restricted and subject
to forfeiture back to the Company at the option of the Company at the cost thereof upon termination of employment or other relationship,
with the timing and other terms of the vesting of such restricted stock or other consideration being equivalent to the timing and
other terms of the superseded exercise schedule of the related Option.

 

    11 

     

    

 

(i)                
Withholding.Prior to the issuance of any shares of Common Stock subject to an Award, the Company shall have the
right to deduct from payments of any kind otherwise due to the Participant of an Award any federal, state or local taxes of any
kind required by law to be withheld with respect to any shares issued upon exercise of an Option or Award under the Plan or the
purchase or issuance of shares subject to an Award. Subject to the prior approval of the Company, which may be withheld by the
Company in its sole discretion, a Participant may elect to satisfy such tax obligations, in whole or in part, (i) by causing the
Company to withhold shares of Common Stock otherwise issuable pursuant to the exercise of an Option or the purchase of shares subject
to an Award or (ii) by delivering to the Company shares of Common Stock already owned by the Participant. The shares so withheld
or delivered shall have an aggregate Fair Market Value equal to the amount of the withholding obligation. A Participant who has
made an election pursuant to this Section 8(i) may only satisfy his or her withholding obligation with shares of Common Stock which
are not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements. The Company may, to the extent
permitted by law, deduct any such tax obligations from any payment of any kind otherwise due to a Participant. 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.

 

9.             Company’s Right of Repurchase

 

(a)              
Repurchase Option; Termination of Award. Unless otherwise set forth in any applicable Award, if, with respect to
a Participant, any of the events specified in Section 9(b) below occur then, with respect to those shares of Common Stock owned
by the Participant as of the date of the event specified in Section 9(b), regardless of when acquired, within 12 months after the
Company receives actual knowledge of the event (the “Repurchase Period”), the Company shall have the right, but not
the obligation, to repurchase from the Participant, or his or her legal representative, as the case may be, all or a portion of
the shares of Common Stock owned by the Participant, regardless of whether such Participant is then still employed or engaged by,
or otherwise has a relationship with the Company (the "Repurchase Option"). The Repurchase Option shall be exercised
by the Company by giving the Participant, or his or her legal representative, written notice of its intention to exercise the Repurchase
Option on or before the last day of the Repurchase Period.

 

    12 

     

    

 

In the event that the
Repurchase Option is triggered as a result of the termination of the Participant for Cause, the Company may exercise its Repurchase
Option by tendering to the Participant, or his or her legal representative, or delivering to an escrow account for the benefit
of the Participant, or his or legal representative, an amount equal to the price originally paid by the Participant to the Company,
subject to adjustment as provided in Section7(a), for each share of Common Stock to be repurchased by the Company hereunder. In
the event that the Repurchase Option is triggered as a result of the termination of the Participant for any reason other than Cause,
the Company may exercise its Repurchase Option by tendering to the Participant, or his or her legal representative, or delivering
to an escrow account for the benefit of the Participant, or his or legal representative, an aggregate cash amount, if positive,
equal to the difference between the Fair Market Value of each share of Common Stock sold or transferred by the Participant and
the price originally paid by the Participant to the Company for each such share of Common Stock so sold or transferred by the Participant,
as adjusted pursuant to Section 7(a). Upon timely exercise of the Repurchase Option in the manner provided in this Section 9(a),
the Participant, or his or her legal representative, shall deliver to the Company the stock certificate or certificates representing
the shares to be repurchased by the Company hereunder, duly endorsed and free and clear of any and all liens, charges and encumbrances.
Upon tendering of the purchase price by good funds, all rights of the Participant in the Shares subject to the Repurchase Option
shall automatically terminate and expire. If the Participant shall fail to deliver such stock certificate or certificates, the
Company shall be entitled to instruct its transfer agent to take such action as may be necessary to remove the requisite number
of shares of Common Stock registered in the name of the Participant from the books and records of the Company. The Repurchase Option
and any right of the Company to payment pursuant to Section 9 hereof shall be a right of the Company in addition to any and all
other rights of the Company and remedies available to the Company, whether at law or in equity. Furthermore, upon the Company receiving
actual knowledge of the occurrence of any of the events specified in Section 9(b) below, all Awards to acquire Common Stock granted
to such Participant shall immediately terminate and shall thereupon not be exercisable to any extent whatsoever.

 

(b)              
Triggering Events. The Company shall have the Repurchase Option in the event that a Participant is terminated by
the Company or shall leave the employ of the Company, or cease to perform consulting or advisory services for the Company, regardless
of the reason or cause.

 

10.           Termination of Awards upon Participant Termination 

 

(a)              
Termination of Participant for “Cause”. If a Participant’s employment, engagement or relationship
with the Company is terminated for “Cause,” any and all Awards shall terminate (unless otherwise determined
by the Board) on the date of such termination, and the Award shall thereupon not be exercisable to any extent whatsoever. Notwithstanding
anything to the contrary herein, upon the termination of employment or engagement of a Participant, for any reason whatsoever,
any Options or Awards granted to such Participant which are not vested at such time of termination shall immediately expire and
terminate, become null and void, and shall not entitle the Participant to any right in or to the Company or any Affiliate (as defined
in the Code) in connection with the same, and all interests and rights of the Participant, in and to the same, shall expire. Notwithstanding
anything to the contrary herein, upon the Termination of a Participant’s employment or engagement for Cause, all of such
Participant’s Options or Awards which have already vested but have not been exercised shall also immediately expire and terminate,
become null and void, and shall not entitle the Participant to any right in or to the Company or any Affiliate in connection with
the same, and all interests and rights of the Participant, in and to the same, shall expire.

 

    13 

     

    

 

(b)              
Termination of Participant not for “Cause”. Notwithstanding anything to the contrary herein, following
termination of a Participant’s employment or engagement not for Cause, the Participant may exercise Awards which are
vested at such time of termination, as follows: if prior to the date of such termination, the Board shall authorize an extension
of the terms of all or part of the Awards which have already vested at such time, beyond the date of such termination for a period
not to exceed the term of the applicable Award, such Awards may be exercised within such extended period. If an Incentive Stock
Option is exercised more than ninety (90) days after the date on which the Participant ceased to be an Employee (other than by
reason of death or disability), such Option will be treated as a Non-Qualified Stock Option and not as an Incentive Stock Option,
and in such event a Participant whose period of exercise has been so extended should consult with its own tax advisor regarding
the tax effects of such extension; and if such termination is the result of death or disability of the Participant, the
Options which have already vested may be exercised within a period of twelve (12) months from the date of such termination.

 

11.           Miscellaneous

 

(a)              
Determination of Fair Market Value. “Fair Market Value” of the Company’s Common Stock on
any date means (i) the average (on that date) of the high and low prices of the Common Stock on the principal national securities
exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the
last reported sale price (on that date) of the Common Stock on the NASDAQ National Market, if the Common Stock is not then traded
on a national securities exchange; or (iii) the average of the closing bid and asked prices last quoted (on that date) by
an established quotation service for over-the-counter securities, if the Common Stock is not reported on the NASDAQ National Market;
or (iv) if the Common Stock is not publicly traded, the fair market value of the Common Stock as determined by the Board after
taking into consideration all factors which it deems appropriate, including, without limitation, recent sale and offer prices of
the Common Stock in private transactions negotiated at arm's length, revenues and operating earnings of the Company for the most
recent twelve-month period, projected revenues and operating earnings of the Company for the next twelve-month period, discounted
positive cash flow of the Company, the nature and timing of any product releases and product shipments, generation of significant
orders, cash flow from operations, consummation, exclusivity, and/or durability of relationships with strategic partners and/or
suppliers, the book value of the Company’s assets as recorded on the most recently prepared balance sheet of the Company,
the price/earnings multiples of comparable publicly traded companies (and adjusted for any illiquidity associated with the Company’s
Common Stock), and appropriate consideration of the senior rights, preferences and privileges of classes of preferred stock outstanding,
and other pertinent factors determined by the Board. The Board’s determination shall be conclusive as to the Fair Market
Value of the Common Stock. Notwithstanding the foregoing, in all events Fair Market Value shall be determined pursuant to a method
permitted by Section 409A of the Code for determining the fair market value of stock subject to a stock right that does not provide
for a deferral of compensation within the meaning of Section 409A of the Code. The Fair Market Value of each share of Common Stock
sold or transferred by the Participant shall be determined as of the date of the event giving rise to such sale or transfer.

 

    14 

     

    

 

(b)              
Determination of Cause. The term “Cause” is defined as, and shall apply in the event of, any one
or more of the of the following occurrences: (i) misconduct by the Participant which results in loss, damage or injury to the Company,
its goodwill, business or reputation, as reasonably determined by the Board or the failure of Participant to follow the reasonable
directives of the Board; (ii) the commission by the Participant of an act of embezzlement, fraud or breach of fiduciary duty; (iii)
the unauthorized disclosure or misappropriation by the Participant of any trade secret or confidential information of the Company;
(iv) the commission by the Participant of an act which induces any customer or prospective customer of the Company to breach a
contract with the Company or to decline to do business with the Company; (v) the conviction of the Participant of a felony; (vi)
the violation (or potential violation) by the Participant, in any material respect, of a non-competition, non-solicitation, non-disclosure
or assignment of inventions covenant between the Participant and the Company; (vii) the engagement, whether directly or indirectly,
by the Participant, during the period of his or her employment, engagement or relationship with the Company or for a period of
one (1) year after the termination of his or her employment, engagement or relationship (for any reason), in a business or other
commercial activity which is or may be competitive with the business being conducted by the Company at such time; (viii) the solicitation,
diversion or taking away by the Participant, or the attempted solicitation, diversion or taking away by the Participant, whether
directly or indirectly, during the period of his or her employment, engagement or relationship with the Company or for a period
of one (1) year after the termination of his or her employment, engagement or relationship (for any reason), of any of the customers,
business or prospective customers of the Company then in existence and with whom the Participant had contact or about whom the
Participant gained confidential information during the Participant’s employment, engagement or relationship with the Company
on behalf of a competitive enterprise (prospective customer shall mean any person or entity being solicited by the Company during
the time the Participant was employed or engaged by the Company); (ix) the solicitation, recruiting or hiring by the Participant,
or the attempted solicitation, recruiting, or hiring by the Participant, whether directly or indirectly, during the period of his
or her employment or for a period of one (1) year after the termination of his or her employment, engagement or relationship (for
any reason), engagement or relationship with the Company, of any current or former Employee of the Company; (x) the illegal use
of controlled substances, illicit drugs, alcohol or other substances by the Participant; (xi) the use of controlled substances,
illicit drugs, alcohol or other substances or behavior by the Participant, which interferes with the Participant’s ability
to perform his or her services for the Company or which otherwise results in loss, damage or injury to the Company, its goodwill,
business or reputation; or (xii) any conduct during the term of a Participant’s employment, engagement or relationship with
the Company that gives rise to the Company’s Repurchase Option, as set forth in Section 9(a) of this Plan, in each case,
as determined by the Board or, in the case of Employees or other persons (including consultants and advisors) who are not executive
officers, by the President or Chief Executive Officer.

 

(c)              
No Right To Employment or Other Status. No person shall have any claim or right to be granted an Award, 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 otherwise set forth in any Award or other agreement with the Participant).

 

    15 

     

    

 

(d)              
No Rights As Stockholder. 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 distributed with respect to an Award until
becoming the record holder thereof.

 

(e)              
Effective Date and Term of Plan. The Plan shall become effective on the date on which it is adopted by the Board.
No Awards shall be granted under the Plan after the completion of ten years from the date on which the Plan was adopted by the
Board, but Awards previously granted may extend beyond that date.

 

(f)               
Amendment of Plan. The Board may amend, suspend or terminate the Plan or any portion thereof at any time subject,
in the case of amendments, to any applicable statutory or regulatory requirements to obtain stockholder approval when and if so
required; provided, however, to the extent that any Award (or a modification of an Award under this Plan results in the deferral
of compensation (for purposes of Section 409(A) of the Code), the terms and conditions of such Award shall comply with Section
409A of the Code.

 

(g)              
Arbitration. Any dispute, controversy, or claim arising out of, in connection with this Plan or any agreement applicable
to an Award granted under this Plan, or relating to the performance of any such agreement, shall be settled by arbitration in the
Commonwealth of Massachusetts pursuant to the rules then obtaining of the American Arbitration Association. Any award shall be
final, binding and conclusive upon the parties and a judgment rendered thereon may be entered in any court having jurisdiction
thereof.

 

(h)              
Governing Law. The provisions of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance
with the General Corporation Law of Delaware as to matters within the scope thereof, without regard to any applicable conflicts
of law. As to matters of contract law, the contract laws of the Commonwealth of Massachusetts shall apply.

 

(i)                
Lock-up for Public Offerings. The Participant and each permitted transferee agrees that if the Company proposes to
offer for sale to the public any shares of Common Stock pursuant to a public offering and if requested by the Company and any underwriter
engaged by the Company, not to, directly or indirectly, offer, sell, pledge, contract to sell (including any short sale), grant
any option to purchase or otherwise dispose of any securities of the Company held by him, her or them (except for any securities
sold pursuant to such registration statement) or enter into any “Hedging Transaction” (as defined below) relating to
any securities of the Company (including, without limitation, pursuant to Rule 144 under the Securities Act of 1933, as amended,
or any successor similar exemptive rule hereinafter in effect) held by him, her or them for such period following the effective
date of the registration statement of the Company filed under the Act with respect to such offering, as the Company or such underwriter
shall specify reasonably and in good faith, not to exceed one hundred eighty (180) days in the case of the Company’s initial
public offering or ninety (90) days in the case of any other follow-on offering. For purposes of this Section 11(i), “Hedging
Transaction” means any short sale (whether or not against the box) or any purchase, sale or grant of any right (including,
without limitation, any put or call option) with respect to any security (other than a broad-based market basket or index) that
includes, relates to or derives any significant part of its value from the Common Stock.

 

     16

     

    

 

(j)                
Compliance with Section 409A of the Code. The Plan is intended to comply with Section 409A of the Code to the extent
subject thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and administered to be in compliance
therewith. To the extent that the Board determines that any Award granted hereunder is subject to Section 409A of the Code, the
option agreement shall incorporate the terms and conditions necessary to avoid the consequences specified in Section 409A(a)(1)
of the Code. Notwithstanding the foregoing, the Company shall have no liability to any grantee hereunder or any other person if
an Option is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the
Code and the terms of such Option do not satisfy the requirements of Section 409A of the Code.

 

*************************

 

Adopted by the Board of Directors on:
April 12, 2013

 

Approved by the Stockholders on: April
12, 2013

 

Amended to correct and adjust the aggregate
number of shares of Common Stock that may be issued pursuant to this Plan from 991,785 to 1,713,570, by unanimous approval by the
Board of Directors on July 29, 2015.

 

    17Exhibit 10.3

 

ISPECIMEN INC.

 

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (this “Agreement”) is made and entered into on <date>,
by and between iSpecimen Inc.,
a Delaware corporation (the “Company”), and <name> (“Indemnitee”).

 

WITNESSETH THAT:

 

WHEREAS, highly
competent persons have become more reluctant to serve companies as directors, officers or in other capacities unless they are provided
with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them
arising out of their service to and activities on behalf of the company;

 

WHEREAS, although
the furnishing of liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities has
been a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes
that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and
with more exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises
are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally
would have been brought only against the Company or business enterprise itself. The Certificate of Incorporation of the Company,
as amended (the “Charter”) and the Bylaws of the Company, as amended (the “Bylaws”) require
indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to the
General Corporation Law of the State of Delaware (“DGCL”). The Charter, Bylaws and the DGCL expressly provide
that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered
into between the Company and members of the Company’s board of directors (the “Board”), officers and other
persons with respect to indemnification;

 

WHEREAS, the
uncertainties relating to liability insurance and to indemnification have increased the difficulty of attracting and retaining
such persons;

 

WHEREAS, the
Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty
of such protection in the future;

 

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

 

WHEREAS, this
Agreement is a supplement to and in furtherance of the Charter, Bylaws and any resolutions adopted pursuant thereto, and shall
not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

WHEREAS, Indemnitee
does not regard the protection available under the Charter, Bylaws and insurance as adequate in the present circumstances, and
may not be willing to serve as an officer and/or director without adequate protection, and the Company desires Indemnitee to serve
in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company
on the condition that Indemnitee be so indemnified; and

 

     

     

    

 

NOW, THEREFORE,
in consideration of Indemnitee’s agreement to serve as an officer and/or a director from and after the date hereof, the parties
hereto agree as follows:

 

1.             Indemnity
of Indemnitee. The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law,
as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality
thereof:

 

(a)       Proceedings
Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided
in this Section l(a) if, by reason of Indemnitee’s Corporate Status (as hereinafter defined), the Indemnitee
is, or is threatened to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding by
or in the right of the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as
hereinafter defined), judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee,
or on Indemnitee’s behalf, in connection with such Proceeding or any claim, issue or matter therein, if the Indemnitee acted
in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company,
and with respect to any criminal Proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful.

 

(b)       Proceedings
by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section
1(b) if, by reason of Indemnitee’s Corporate Status, the Indemnitee is, or is threatened to be made, a party to or participant
in any Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall be indemnified
against all Expenses actually and reasonably incurred by the Indemnitee, or on the Indemnitee’s behalf, in connection with
such Proceeding if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed
to the best interests of the Company; provided, however, if applicable law so provides, no indemnification against such Expenses
shall be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged to be
liable to the Company unless and to the extent that the Delaware Court (as defined in Section 20) or other court of competent
jurisdiction shall determine that such indemnification may be made.

 

(c)       Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to and is successful, on the merits or otherwise,
in any Proceeding, Indemnitee shall be indemnified to the maximum extent permitted by law, as such may be amended from time to
time, against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.
If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but
less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually
and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim, issue
or matter. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding
by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

     

     

    

 

2.             Additional
Indemnity.

 

(a)       Indemnification
of Indemnitee. In addition to, and without regard to any limitations on, the indemnification provided for in Section 1
of this Agreement, the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties,
fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf if, by reason
of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding
(including a Proceeding by or in the right of the Company), including, without limitation, all liability arising out of the negligence
or active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant
to this Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee that is finally determined
(under the procedures, and subject to the presumptions, set forth in Sections 6 and 7 hereof) to be unlawful.

 

3.             Contribution.

 

(a)       Whether
or not the indemnification provided in Sections 1 and 2 hereof is available, in respect of any threatened, pending
or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement of such action,
suit or proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and relinquishes any
right of contribution it may have against Indemnitee. The Company shall not enter into any settlement of any action, suit or proceeding
in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless such settlement
provides for a full and final release of all claims asserted against Indemnitee or the Indemnitee consents to such settlement in
writing.

 

(b)       Without
diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee
shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action,
suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding),
the Company shall contribute to the amount of Expenses, judgments, fines and amounts paid in settlement actually and reasonably
incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and all officers, directors
or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction(s) or event(s) from which such action,
suit or proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent
necessary to conform to law, be further adjusted by reference to the relative fault of the Company and all officers, directors
or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), on the one hand, and Indemnitee, on the other hand, in connection with the transaction(s) or event(s) that
resulted in such expenses, judgments, fines or settlement amounts, as well as any other equitable considerations which applicable
law may require to be considered. The relative fault of the Company and all officers, directors or employees of the Company, other
than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one
hand, and Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree to which their actions
were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and
the degree to which their conduct is active or passive.

 

     

     

    

 

(c)       The
Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought by officers,
directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.

 

(d)       To
the fullest extent permissible under applicable law and without diminishing or impairing the obligations of the Company set forth
in the preceding subparagraphs of this Section 3, if the indemnification provided for in this Agreement is unavailable to
Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred
by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses,
in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and
reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the
Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative
fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or
transaction(s).

 

4.             Indemnification
for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of Indemnitee’s Corporate Status, a witness, or is made to (or asked to) respond to discovery requests, in any Proceeding
to which Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee
or on Indemnitee’s behalf in connection therewith.

 

5.             Advancement
of Expenses. Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred by or on
behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30) days
after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to
time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the
Expenses incurred by Indemnitee and shall include or be preceded or accompanied by a written undertaking by or on behalf of Indemnitee
to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such
Expenses. Any advances and undertakings to repay pursuant to this Section 5 shall be unsecured and interest free and not
conditioned on Indemnitee’s ability to repay such advances.

 

6.             Procedures
and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee
rights of indemnity that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware. Accordingly,
the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee
is entitled to indemnification under this Agreement:

 

     

     

    

 

(a)       To
obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith
such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and
to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request
for indemnification, advise the Board in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing,
any failure of Indemnitee to provide such a request to the Company, or to provide such a request in a timely fashion, shall not
relieve the Company of any liability that it may have to Indemnitee unless, and to the extent that, such failure actually and materially
prejudices the interests of the Company.

 

(b)       Upon
written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a) hereof, a determination
with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following four methods,
which shall be at the election of the Board: (1) by a majority vote of the Disinterested Directors (as hereinafter defined), even
though less than a quorum, (2) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors,
even though less than a quorum, (3) if there are no Disinterested Directors or if the Disinterested Directors so direct, by Independent
Counsel (as hereinafter defined) in a written opinion to the Board, a copy of which shall be delivered to the Indemnitee, or (4)
if so directed by the Board, by the stockholders of the Company. The Board shall notify Indemnitee on its election immediately
following such resolution.

 

(c)       If
the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b)(3) hereof,
the Independent Counsel shall be selected as provided in this Section 6(c). The Independent Counsel shall be selected by
the Board and written notice of such selection shall be given to Indemnitee. Indemnitee may, within ten (10) days after such written
notice of selection shall have been given, deliver to the Company a written objection to such selection; provided, however, that
such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section 13 of this Agreement, and the objection shall set forth with particularity the
factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel.
If a written objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless
and until such objection is withdrawn or a court has determined that such objection is without merit. If, within twenty (20) days
after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a) hereof, no Independent
Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court or other
court of competent jurisdiction for resolution of any objection which shall have been made by the Indemnitee to the Company’s
selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such
other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so
appointed shall act as Independent Counsel under Section 6(b) hereof. The Company shall pay any and all reasonable fees
and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 6(b)
hereof, and the Company shall pay all reasonable fees and expenses incident to the procedures of this Section 6(c),
regardless of the manner in which such Independent Counsel was selected or appointed.

 

     

     

    

 

(d)       In
making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption
shall have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company
(including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant
to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct,
nor an actual determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such
applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable
standard of conduct.

 

(e)       Indemnitee
shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise
(as hereinafter defined), including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise
in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports
made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable
care by the Enterprise. In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee
of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.
Whether or not the foregoing provisions of this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee
has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests
of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear
and convincing evidence.

 

(f)       If
the person, persons or entity empowered or selected under Section 6 to determine whether Indemnitee is entitled to indemnification
shall not have made a determination within thirty (30) days after receipt by the Company of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional
thirty (30) days, if the person, persons or entity making such determination with respect to entitlement to indemnification in
good faith requires such additional time to obtain or evaluate documentation and/or information relating thereto; and provided,
further, that the foregoing provisions of this Section 6(f) shall not apply if the determination of entitlement to indemnification
is to be made by the stockholders pursuant to Section 6(b) of this Agreement and if (A) within fifteen (15) days after receipt
by the Company of the request for such determination, the Board or the Disinterested Directors, if appropriate, resolve to submit
such determination to the stockholders for their consideration at an annual meeting thereof to be held within forty-five (45) days
after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15)
days after such receipt for the purpose of making such determination, such meeting is held for such purpose within thirty (30)
days after having been so called and such determination is made thereat.

 

     

     

    

 

(g)       Indemnitee
shall reasonably and in good faith cooperate with the person, persons or entity making such determination with respect to Indemnitee’s
entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation
or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary to such determination. Any Independent Counsel, member of the Board or stockholder of the Company shall act
reasonably and in good faith in making a determination regarding the Indemnitee’s entitlement to indemnification under this
Agreement. Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with
the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to
Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(h)       The
Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to
avoid expense, delay, distraction, disruption and uncertainty. In the event that any Proceeding to which Indemnitee is a party
is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such
Proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on
the merits or otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption shall have the burden of
proof and the burden of persuasion by clear and convincing evidence.

 

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

 

7.             Remedies
of Indemnitee.

 

(a)       If
(i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to indemnification under
this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no determination
of entitlement to indemnification is made pursuant to Section 6(b) of this Agreement within the applicable period of time
set forth in Section 6(f) after receipt by the Company of the request for indemnification, (iv) payment of indemnification
is not made pursuant to this Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) payment
of indemnification is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification
or such determination is deemed to have been made pursuant to Section 6 of this Agreement, or (vi) the Company or any other
person takes any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding
designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided hereunder, then Indemnitee shall
be entitled to an adjudication in an appropriate court of the State of Delaware, or in any other court of competent jurisdiction,
of Indemnitee’s entitlement to such indemnification. Unless otherwise agreed by the Company, Indemnitee shall commence such
proceeding seeking an adjudication within one hundred eighty (180) days following the date on which Indemnitee first has the right
to commence such proceeding pursuant to this Section 7(a). The Company shall not oppose Indemnitee’s right to seek
any such adjudication.

 

     

     

    

 

(b)       In
the event that a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a
de novo trial on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b).

 

(c)       If
a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent
(i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s misstatement
not materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

(d)       In
the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of Indemnitee’s rights under,
or to recover damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance
policies maintained by the Company, the Company shall pay on Indemnitee’s behalf, in advance, any and all expenses (of the
types described in the definition of Expenses in Section 13 of this Agreement) actually and reasonably incurred by Indemnitee
in such judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification,
advancement of expenses or insurance recovery.

 

(e)       The
Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company
is bound by all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all Expenses and, if requested
by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefor) advance, to the extent not
prohibited by law, such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee
for indemnification or advance of Expenses from the Company under this Agreement or under any directors' and officers' liability
insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such
indemnification, advancement of Expenses or insurance recovery, as the case may be.

 

(f)       Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be
required to be made prior to the final disposition of the Proceeding.

 

     

     

    

 

8.             Non-Exclusivity;
Survival of Rights; Insurance; Primacy of Indemnification; Subrogation.

 

(a)       The
rights of indemnification as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may
at any time be entitled under applicable law, the Charter, the Bylaws, any agreement, vote of stockholders or resolution of directors
of the Company, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict
any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in Indemnitee’s
Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in the DGCL, whether by statute or
judicial decision, permits greater indemnification than would be afforded currently under the Charter, Bylaws and this Agreement,
it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change.
No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy
shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity
or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion
or employment of any other right or remedy.

 

(b)       To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
or agents or fiduciaries of the Company or of any other corporation, partnership, limited liability company, joint venture, trust,
employee benefit plan or other enterprise that such person serves at the request of the Company, Indemnitee shall be covered by
such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any director,
officer, employee, agent or fiduciary under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant
to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of
the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The
Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all
amounts payable as a result of such proceeding in accordance with the terms of such policies.

 

(c)       In
the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

(d)       The
Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the
extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

 

(e)       The
Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the
Company as a director, officer, employee, agent or fiduciary of any other corporation, partnership, limited liability company,
joint venture, trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually received
as indemnification or advancement of expenses from such other corporation, partnership, limited liability company, joint venture,
trust, employee benefit plan or other enterprise.

 

     

     

    

 

9.             Exception
to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this
Agreement to make any indemnity in connection with any claim made against Indemnitee:

 

(a)       for
which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except
with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision;

 

(b)       for
an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory
law or common law; or

 

(c)       in
connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of
any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless
(i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation, (ii) the Proceeding is initiated
by Indemnitee pursuant to Indemnitee’s rights under Section 7 of this Agreement, the Charter or Bylaws, or (iii) the
Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

 

10.           Duration
of Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is
an officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee, agent
or fiduciary of another corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other
enterprise) and shall continue thereafter so long as Indemnitee shall be or may be subject to any Proceeding (or any proceeding
commenced under Section 7 hereof) by reason of Indemnitee’s Corporate Status, whether or not Indemnitee is acting
or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under
this Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their
respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially
all of the business or assets of the Company), assigns, spouses, heirs, executors and personal and legal representatives.

 

11.           Security.
To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security
to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral.
Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of the Indemnitee.

 

12.           Enforcement.

 

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

 

(b)       This
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof; provided, however, that nothing in this Agreement shall affect any rights Indemnitee may have under the Charter
or Bylaws or under applicable laws.

 

     

     

    

 

(c)       The
Company shall not seek from a court, or agree to, a “bar order” which would have the effect of prohibiting or limiting
the Indemnitee’s rights to receive advancement of expenses under this Agreement.

 

13.           Definitions.
For purposes of this Agreement:

 

(a)       “Corporate
Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the Company
or of any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise
that such person is or was serving at the express written request of the Company.

 

(b)       “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

(c)       “Enterprise”
shall mean the Company and any other corporation, partnership, limited liability company, joint venture, trust, employee benefit
plan or other enterprise that Indemnitee is or was serving at the express written request of the Company as a director, officer,
employee, agent or fiduciary.

 

(d)       “Expenses”
shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel
expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements
or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
participating, or being or preparing to be a witness in a Proceeding, or responding to, or objecting to, a request to provide discovery
in any Proceeding. Expenses also shall include Expenses incurred in connection with any appeal resulting from any Proceeding and
any federal, state, local or foreign taxes imposed on the Indemnitee as a result of the actual or deemed receipt of any payments
under this Agreement, including without limitation the premium, security for, and other costs relating to any cost bond, supersede
as bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee
or the amount of judgments or fines against Indemnitee.

 

(e)       “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either
such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar
indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding
the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards
of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in
an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent
Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising
out of or relating to this Agreement or its engagement pursuant hereto.

 

     

     

    

 

(f)       “Proceeding”
includes any threatened, pending or completed action, claim, issue, matter, demand, discovery request, subpoena, hearing, suit,
arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened
or completed proceeding, whether brought by or in the right of the Company or otherwise and whether civil, criminal, regulatory,
administrative or investigative, or any other type whatsoever, including any appeal of the foregoing, in which Indemnitee was,
is or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of the Company,
by reason of any action taken by Indemnitee or of any inaction on Indemnitee’s part while acting as an officer or director
of the Company, or by reason of the fact that Indemnitee is or was serving at the request of the Company (or by reason of any action
taken by Indemnitee or any inaction on Indemnitee’s part while acting) as a director, officer, employee, agent or fiduciary
of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise; in each case whether or not
Indemnitee is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification
can be provided under this Agreement; including one pending on or before the date of this Agreement, but excluding one initiated
by an Indemnitee pursuant to Section 7 of this Agreement to enforce Indemnitee’s rights under this Agreement.

 

14.           Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.
Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to
the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision
shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

 

15.           Modification
and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing
by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

16.           Notice
By Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any
summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may
be subject to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any obligation
which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially
prejudices the Company.

 

17.           Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent
during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after
having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after
deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All
communications shall be sent:

 

     

     

    

 

		(a)	To Indemnitee at the address set forth below Indemnitee
signature hereto.

 

With a copy,
which shall not constitute notice, to:

 

Morse

CityPoint

480 Totten Pond
Rd 4th Floor

Waltham, MA 02451

Attention: John
Hession

 

		(b)	To the Company at:

 

iSpecimen Inc.

450 Bedford
Street, Suite 2050

Lexington,
MA 02420

Attention: Chief
Executive Officer

 

or to such other address
as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

 

18.           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile or other electronically
transmitted signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

 

19.           Headings.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction thereof.

 

20.           Governing
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and
Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with
this Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”),
and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to
submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection
with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and
(iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been
brought in an improper or inconvenient forum.

 

[Signature
Page Follows]

 

     

     

    

 

ISPECIMEN INC.

 

INDEMNIFICATION AGREEMENT

 

IN WITNESS WHEREOF,
the parties hereto have executed this Indemnification Agreement on and as of the day and year first above written.

 

	 	COMPANY:
	 	 
	 	 
	 	iSpecimen Inc.
	 	 
	 	 
	 	By:	/s/
    Christopher Ianelli, MD PhD         
	 	Name:
    Christopher Ianelli, MD PhD
	 	Title:
    President and Chief Executive
    Officer
	 	 
	 	 
	 	INDEMNITEE:
	 	 
	 	 
	 	Name: <name>
	 	 
	 	Address:

 

iSpecimen
Inc. Indemnification Agreement – Signature Page

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