Document:

Exhibit
10.2

 

NOTICE
OF GRANT OF STOCK OPTION

 

MOVANO,
INC.

AMENDED AND RESTATED 2019 OMNIBUS INCENTIVE PLAN

 

FOR
GOOD AND VALUABLE CONSIDERATION, Movano, Inc. (the “Company”) hereby grants, pursuant to the provisions of
the Movano, Inc. Amended and Restated 2019 Omnibus Incentive Plan (the “Plan”), to the Grantee designated below
(“Grantee”) a Stock Option to purchase the number of Shares specified below (the “Option”).
The Option shall be subject to this Notice of Grant (the “Notice of Grant”) and the attached Terms and Conditions
of Stock Option (together with the Notice of Grant, the “Award Agreement”).

 

	Grantee:	 	 
	 	 	 
	Type
    of Option:	 	[Incentive
    Stock Option]/[Non-qualified Stock Option]
	 	 	 
	Grant
    Date:	 	 
	 	 	 
	Vesting
    Commencement Date:	 	 
	 	 	 
	Number
    of Shares Purchasable:	 	 
	 	 	 
	Option
    Price per Share:	 	 
	 	 	 
	Expiration
    Date:	 	 
	 	 	 
	Exercisability
    Schedule:	 	 
	 	 	 
	Early
    Exercise:	 	[Permitted]/[Not
    Permitted]

 

    Notice of Grant - Page 1

    

    

 

 

	Exercise
    after Separation from Service:	 	Separation
                           from Service for any reason other than death, Disability or Cause: any non-exercisable portion
                           of the Option expires immediately and any exercisable portion of the Option remains exercisable for
                           90 days following Separation from Service for any reason other than death, Disability or Cause; provided
                           that if Grantee dies during such 90-day period any exercisable portion of the Option remains exercisable
                           for 18 months following Grantee’s death.

         

        Separation
        from Service due to Disability: any non-exercisable portion of the Option expires immediately and any exercisable
        portion of the Option remains exercisable for 12 months following Separation from Service due to Disability; provided
        that if Grantee dies during the 90-day period following Grantee’s Separation from Service due to Disability, any
        exercisable portion of the Option remains exercisable for 18 months following Grantee’s death.

         

        Separation
        from Service due to Death: any non-exercisable portion of the Option expires immediately and any exercisable portion
        of the Option remains exercisable for 18 months following Grantee’s death.

         

        Separation
        from Service for Cause: the entire Option, including any exercisable and non-exercisable portion, expires immediately
        upon Separation from Service for Cause.

         

        In
        no event may THE Option be exercised after the Expiration Date as provided above.

        

 

By
signing below, Grantee agrees that the Option is granted under and governed by the terms and conditions of the Plan and the Award
Agreement, as of the Grant Date.

 

	GRANTEE	 	MOVANO,
    INC.
	 	 	 
	Sign
    Name:	 	 	Sign
    Name:	 
	 	 	 	 	 
	Print
    Name:	 	 	Print
    Name:	 
	 	 	 
	 	 	Title:	 

 

    Notice of Grant - Page 2

    

    

 

TERMS
AND CONDITIONS OF STOCK OPTION

 

1.
Grant of Option. The Option granted to Grantee and described in the Notice of Grant is subject to the terms and conditions
of the Plan. The terms and conditions of the Plan are hereby incorporated herein by reference. Except as otherwise expressly set
forth herein, the Award Agreement shall be construed in accordance with the terms and conditions of the Plan. Any capitalized
term not otherwise defined in the Award Agreement shall have the definition set forth in the Plan.

 

The
Board has approved the grant to Grantee of the Option, conditioned upon Grantee’s acceptance of the terms and conditions
of the Award Agreement within 60 days after the Award Agreement is presented to Grantee for review.

 

If
designated in the Notice of Grant as an Incentive Stock Option, the Option is intended to qualify as an Incentive Stock Option.
To the extent that the Option fails to meet the requirements of an Incentive Stock Option or is not designated as an Incentive
Stock Option, the Option shall be treated as a Non-qualified Stock Option.

 

2.
Exercise of Option.

 

(a)
Right to Exercise. The Option shall be exercisable, in whole or in part, during its term in accordance with the terms and
conditions set forth in the Notice of Grant and with the applicable provisions of the Plan and the Award Agreement. No Shares
shall be issued pursuant to the exercise of the Option unless the issuance and exercise comply with applicable laws. Assuming
such compliance, for income tax purposes the Shares shall be considered transferred to Grantee on the date on which the Option
is exercised with respect to such Shares. Until such time as the Option has been duly exercised and Shares have been delivered,
Grantee shall not be entitled to exercise any voting rights with respect to such Shares, shall not be entitled to receive dividends
or other distributions with respect thereto and shall not have any other rights of a stockholder with respect thereto.

 

(b)
Early Exercise. If permitted in the Notice of Grant, and subject to the provisions of the Option, Grantee may elect at
any time that is both (i) during the period of Grantee’s Service and (ii) during the term of the Option, to exercise all
or part of the Option, including any unexercisable portion of the Option; provided, however, that:

 

(i)
a partial exercise of the Option shall be deemed first to cover Shares subject to the exercisable portion of the Option and then
the earliest exercisable installment of Shares subject to the Option;

 

(ii)
any Shares purchased with respect to the unexercisable portion of the Option as of the date of exercise shall be subject to a
purchase option in favor of the Company as described in the Company’s form of Exercise Notice and Option Exercise Agreement;

 

(iii)
as a condition preceding to the effectiveness of any exercise as to any unexercisable portion of the Option, Grantee shall enter
into the Company’s form of Exercise Notice and Option Exercise Agreement with a vesting schedule that will result in the
same vesting as if no early exercise has occurred; and

 

(iv)
if the Option is an Incentive Stock Option, then, to the extent that the aggregate Fair Market Value (determined at the Grant
Date) of the Shares subject to the Option and all other Incentive Stock Options held by Grantee are exercisable for the first
time by Grantee during any calendar year (under all plans of the Company and its Affiliates) exceeds $100,000, the Option and
all such other Incentive Stock Options or portions thereof that exceed such limit (according to the order in which they were granted)
shall be treated as Nonqualified Stock Options.

 

(c)
Method of Exercise. The Grantee may exercise the Option by delivering an exercise notice in a form approved by the Company
(the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares with respect
to which the Option is being exercised, and such other representations and agreements as may be required by the Company. The Exercise
Notice shall be accompanied by payment of the aggregate Option Price as to all Shares exercised. The Option shall be deemed to
be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Option Price (as
well as any applicable withholding or other taxes).

 

    Terms and Conditions - Page 1

    

    

 

3.
Method of Payment. If Grantee elects to exercise the Option by submitting an Exercise Notice in accordance with Section 2(b)
above, the aggregate Option Price (as well as any applicable withholding or other taxes) shall be paid by cash or check; provided,
however, that the Board may, but is not required to, consent to payment in any of the following forms, or a combination of
them:

 

(a)
cash or check;

 

(b)
a “net exercise” under which the Company reduces the number of Shares issued upon exercise by the largest whole number
of Shares with a Fair Market Value that does not exceed the aggregate Option Price and any applicable withholding, or such other
consideration received by the Company under a cashless exercise program approved by the Company in connection with the Plan;

 

(c)
surrender of other Shares owned by Grantee that have a Fair Market Value on the date of surrender equal to the aggregate Option
Price of the exercised Shares and any applicable withholding; or

 

(d)
any other consideration that the Board deems appropriate and in compliance with applicable law.

 

4.
Restrictions on Exercise. The Option may not be exercised until such time as the Plan has been approved by the stockholders
of the Company, or if the issuance of the Shares upon exercise or the method of payment of consideration for those Shares would
constitute a violation of any applicable law, regulation or Company policy.

 

5.
Transferability.

 

(a)
The Option may not be transferred in any manner other than by will or by the laws of descent or distribution and may be exercised
during the lifetime of Grantee only by Grantee; provided, however, that Grantee may, with the consent of the Company,
transfer the Option (a) pursuant to a domestic relations order by a court of competent jurisdiction or (b) to any Family Member
of Grantee in accordance with Section 16.11.2 of the Plan by delivering to the Company a notice of assignment in a form acceptable
to the Company. No transfer or assignment of the Option to or on behalf of a Family Member under this Section 5 shall be
effective until the Company has acknowledged such transfer or assignment in writing.

 

(b)
Without limitation of Section 11 below, any Issued Shares in connection with the Option shall be subject to the Company’s
right of first refusal under Section 16.4.1 of the Plan, [the Company’s right of repurchase under Section 16.4.2 of the
Plan], the market standoff requirement under Section 16.5 of the Plan, and the transfer restrictions under Section 16.11.3 of
the Plan.

 

(c)
If at the time of exercise, there is then effective an agreement among the Company and any of its stockholders regarding so-called
rights of co-sale, rights of first refusal or similar rights, or regarding voting rights, as a condition precedent to exercise,
this Option shall not be deemed exercised until Grantee has executed and delivered a joinder or counterpart signature page to
each such agreement agreeing to be subject to such rights of co-sale, rights of first refusal or similar rights or such voting
provisions in a manner similar to other holders of Common Stock, unless either (i) there is no agreement binding the Company to
Grantee as a party to any such agreement or to seek to add Grantee as a party to any such agreement or (ii) the Company expressly
waives this requirement in a writing delivered to Grantee or in a resolution of the Board, which waiver or resolution must expressly
reference this Section 5(c).

 

    Terms and Conditions - Page 2

    

    

 

6.
Term of Option. The Option may be exercised only within the term set forth in the Notice of Grant, and may be exercised
during such term only in accordance with the Plan and the terms of the Award Agreement.

 

7.
Withholding.

 

(a)
The Board shall determine the amount of any withholding or other tax required by law to be withheld or paid by the Company with
respect to any income recognized by Grantee with respect to the Option.

 

(b)
The Grantee shall be required to meet any applicable tax withholding obligation in accordance with the provisions of Section 16.3
of the Plan.

 

(c)
If Grantee makes any disposition of Shares delivered pursuant to the exercise of an Incentive Stock Option under the circumstances
described in Code Section 421(b) (relating to certain disqualifying dispositions), Grantee shall notify the Company of such disposition
within 10 days of such disposition.

 

8.
Adjustment. Upon any event described in Section 14 of the Plan occurring after the Grant Date, the adjustment provisions
as provided for under Section 14 of the Plan shall apply to the Option.

 

9.
Parachute Payments.

 

(a)
If any payment or benefit Grantee would receive pursuant to a Change in Control from the Company or otherwise (“Payment”)
would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence,
be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall
be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would
result in no portion of the Payment being subject to the Excise Tax or (y) the largest portion, up to and including the total,
of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes,
and the Excise Tax (all computed at the highest applicable marginal rate), results in Grantee’s receipt, on an after-tax
basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise
Tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payment equals
the Reduced Amount, reduction shall occur in the following order unless Grantee elect in writing a different order (provided,
however, that such election shall be subject to Company approval if made on or after the effective date of the event that
triggers the Payment): reduction of cash payments; cancellation of accelerated vesting of Awards; reduction of employee benefits.
In the event that acceleration of vesting of an Award is to be reduced, such acceleration of vesting shall be cancelled in the
reverse order of the date of grant of Grantee’s Awards (i.e., earliest granted Award cancelled last) unless Grantee
elects in writing a different order for cancellation.

 

(b)
The accounting firm engaged by the Company for general audit purposes as of the day prior to the effective date of the Change
in Control shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant
or auditor for the individual, entity or group effecting the Change in Control, the Company shall appoint a nationally recognized
accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations
by such accounting firm required to be made hereunder.

 

(c)
The accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting
documentation, to Grantee and the Company within fifteen (15) calendar days after the date on which Grantee’s right to a
Payment is triggered (if requested at that time by Grantee or the Company) or such other time as requested by Grantee or the Company.
If the accounting firm determines that no Excise Tax is payable with respect to a Payment, either before or after the application
of the Reduced Amount, it shall furnish Grantee and the Company with an opinion reasonably acceptable to Grantee that no Excise
Tax will be imposed with respect to such Payment. Any good faith determinations of the accounting firm made hereunder shall be
final, binding and conclusive upon Grantee and the Company.

 

    Terms and Conditions - Page 3

    

    

 

10.
Right of First Refusal. Shares that Grantee acquires upon exercise of the Option (whether in Grantee’s possession
or in the possession of transferees) (“Grantee’s shares,”) are subject to the Company’s right of first
refusal. The Grantee shall not sell, assign, pledge, or in any manner transfer any of the Shares that Grantee acquires upon exercise
of the Option or any right or interest therein, whether voluntarily or by operation of law, or by gift or otherwise, except by
a transfer which meets the requirements set forth hereinafter:

 

(a)
If Grantee desires to sell or otherwise transfer any of the Shares, then Grantee shall first give written notice thereof to the
Company. The notice shall name the proposed transferee and state the number of shares to be transferred, the proposed consideration,
and all other terms and conditions of the proposed transfer.

 

(b)
For thirty (30) days following receipt of such notice, the Company shall have the option to purchase all (but not less than all)
of the shares specified in the notice at the price and upon the terms set forth in such notice; provided, however, that,
with Grantee’s consent, the Company shall have the option to purchase a lesser portion of the shares specified in said notice
at the price and upon the terms set forth therein. In the event of a gift, property settlement or other transfer in which the
proposed transferee is not paying the full price for the shares, and that is not otherwise exempted from the provisions of this
Section 10, the price shall be deemed to be the Fair Market Value of the Shares. In the
event the Company elects to purchase all of the Shares or, with Grantee’s consent, a lesser portion of the Shares,
it shall give written notice to Grantee, as the transferring stockholder, of its election and settlement for said shares shall
be made as provided below in paragraph (d).

 

(c)
The Company may assign its rights hereunder.

 

(d)
In the event the Company and/or its assignee(s) elect to acquire any of Grantee’s Shares as specified in the notice Grantee
receives as the transferring Stockholder, the Secretary of the Company shall so notify Grantee, as the transferring Stockholder,
and settlement thereof shall be made in cash within 30 days after the Secretary of the Company receives said transferring stockholder’s
notice; provided that if the terms of payment set forth in the transferring Stockholder’s notice were other than cash against
delivery, the Company and/or its assignee(s) shall pay for said shares on the same terms and conditions set forth in Grantee’s
transferring Stockholder’s notice.

 

(e)
In the event the Company and/or its assignees(s) do not elect to acquire all of the Shares specified in Grantee’s transferring
Stockholder’s notice, Grantee may, within the sixty-day period following the expiration or waiver of the Option rights granted
to the Company and/or its assignees(s) herein, transfer the Shares specified in Grantee’s transferring Stockholder’s
notice which were not acquired by the Company and/or its assignees(s) as specified in Grantee’s transferring Stockholder’s
notice. All Shares so sold by Grantee, as the transferring Stockholder, shall continue to be subject to the provisions of this
Section 10 in the same manner as before said transfer.

 

(f)
Anything to the contrary contained herein notwithstanding, the following transactions shall be exempt from the provisions of this
Section 10:

 

(i)
If an agreement between Grantee and the Company regarding the sale, assignment, pledge, or transfer in any manner of any of Grantee’s
Shares contains anything to the contrary to this Section 10, the agreement between Grantee and the Company will control and govern
as to the sale, assignment, pledge, or transfer in any manner of the Shares.

 

(ii)
The Grantee’s transfer of any or all of Grantee’s Shares held either during Grantee’s lifetime or on death by
will or intestacy to Grantee’s immediate family or to any custodian or trustee for Grantee’s account or the account
of Grantee’s immediate family or to any limited partnership of which Grantee, members of Grantee’s immediate family
or any trust for Grantee’s account or the account of Grantee’s immediate family will be the general or limited partner(s)
of such partnership. “Immediate family” as used herein shall mean spouse, lineal descendant, father,
mother, brother, or sister of the Stockholder making such transfer.

 

    Terms and Conditions - Page 4

    

    

 

(iii)
The Grantee’s bona fide pledge or mortgage of any of Grantee’s shares with a commercial lending institution, provided
that any subsequent transfer of said shares by said institution shall be conducted in the manner set forth in this Section 10.

 

(iv)
The Grantee’s transfer of any or all of Grantee’s shares to the Company or to any other Stockholder of the Company.

 

(v)
The Grantee’s transfer of any or all of Grantee’s Shares to a person who, at the time of such transfer, is an officer
or director of the Company.

 

In
any such case, the transferee, assignee, or other recipient shall receive and hold such stock subject to the provisions of this
Section 10, and there shall be no further transfer of such stock except in accord with this Section 10.

 

(g)
The provisions of this Section 10 may be waived with respect to any transfer either by the Company, upon duly authorized action
of its Board of Directors, or by the Stockholders, upon the express written consent of the owners of a majority of the voting
power of the Company (excluding the votes represented by those shares to be transferred by the transferring Stockholder). This
Section 10 may be amended or repealed either by a duly authorized action of the Board or by the Stockholders, upon the express
written consent of the owners of a majority of the voting power of the Company.

 

(h)
Any sale or transfer, or purported sale or transfer, of Grantee’s Shares shall be null and void unless the terms, conditions,
and provisions of this Section 10 are strictly observed and followed.

 

(i)
The foregoing right of first refusal shall terminate upon the date securities of the Company are first offered to the public pursuant
to a registration statement filed with, and declared effective by, the United States Securities and Exchange Commission under
the Securities Act of 1933, as amended.

 

(j)
The certificates representing Shares shall bear on their face the following legend or a substantially similar legend so long as
the foregoing right of first refusal remains in effect and any other legend required by the Company in accordance with applicable
law or an applicable agreement:

 

“THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT OF FIRST REFUSAL OPTION IN FAVOR OF THE COMPANY AND/OR ITS
ASSIGNEE(S), AS PROVIDED IN AN OPTION AGREEMENT.”

 

11.
Bound by Plan and Board Decisions. By accepting the Option, Grantee acknowledges that Grantee has received a copy of the
Plan, has had an opportunity to review the Plan, and agrees to be bound by all of the terms and conditions of the Plan[; provided,
Section 16.4.2 of the Plan shall not apply to the Option]. In the event of any conflict between the provisions of the Award Agreement
and the Plan, the provisions of the Plan shall control. The authority to manage and control the operation and administration of
the Award Agreement and the Plan shall be vested in the Board, and the Board shall have all powers with respect to the Award Agreement
as it has with respect to the Plan. Any interpretation of the Award Agreement or the Plan by the Board and any decision made by
the Board with respect to the Award Agreement or the Plan shall be final and binding on all persons.

 

12.
Grantee Representations. The Grantee hereby represents to the Company that Grantee has read and fully understands the provisions
of the Award Agreement and the Plan and that Grantee’s decision to participate in the Plan is completely voluntary. Further,
Grantee acknowledges that Grantee is relying solely on his or her own advisors with respect to the tax consequences of the Option.

 

13.
Regulatory Limitations on Exercises. Notwithstanding the other provisions of the Award Agreement, the Board may impose
such conditions, restrictions and limitations (including suspending the exercise of the Option and the tolling of any applicable
exercise period during such suspension) on the issuance of Common Stock with respect to the Option unless and until the Board
determines that such issuance complies with (a) any applicable registration requirements under the Securities Act or the Board
has determined that an exemption therefrom is available, (b) any applicable listing requirement of any stock exchange on which
the Common Stock is listed, (c) any applicable Company policy or administrative rules and (d) any other applicable provision of
state, federal or foreign law, including foreign securities laws where applicable.

    Terms and Conditions - Page 5

    

    

 

14.
Miscellaneous.

 

(a)
Notices. Any notice that either party hereto may be required or permitted to give to the other shall be in writing and
may be delivered personally, by intraoffice mail, by fax, by electronic mail or other electronic means, or via a postal service,
postage prepaid, to such electronic mail or postal address and directed to such person as the Company may notify Grantee from
time to time; and to Grantee at Grantee’s electronic mail or postal address as shown on the records of the Company from
time to time, or at such other electronic mail or postal address as Grantee, by notice to the Company, may designate in writing
from time to time.

 

(b)
Waiver. The waiver by any party hereto of a breach of any provision of the Award Agreement shall not operate or be construed
as a waiver of any other or subsequent breach.

 

(c)
Entire Agreement. The Award Agreement and the Plan constitute the entire agreement between the parties with respect to
the Option. Any prior agreements, commitments or negotiations concerning the Option are superseded.

 

(d)
Binding Effect; Successors. The obligations and rights of the Company under the Award Agreement shall be binding upon and
inure to the benefit of the Company and any successor corporation or organization resulting from the merger, consolidation, sale,
or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all of the
assets and business of the Company. The obligations and rights of Grantee under the Award Agreement shall be binding upon and
inure to the benefit of Grantee and the beneficiaries, executors, administrators, heirs and successors of Grantee.

 

(e)
Governing Law; Consent to Jurisdiction; Consent to Venue. The Award Agreement shall be construed and interpreted in accordance
with the internal laws of the State of Delaware without regard to principles of conflicts of law thereof, or principles of conflicts
of laws of any other jurisdiction that could cause the application of the laws of any jurisdiction other than the State of Delaware.
For purposes of resolving any dispute that arises directly or indirectly from the relationship of the parties evidenced by the
Option or the Award Agreement, the parties hereto hereby submit to and consent to the exclusive jurisdiction of the State of California
and agree that any related litigation shall be conducted solely in the courts of Alameda County, California or the federal courts
for the U.S. for the Northern District of California, where the Award Agreement is made and/or to be performed, and no other courts.

 

(f)
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way
limit or affect the meaning or interpretation of any of the terms or provisions of the Award Agreement.

 

(g)
Amendment. The Award Agreement may be amended at any time by the Board, provided that no amendment may, without
the consent of Grantee, materially impair Grantee’s rights with respect to the Option.

 

(h)
Severability. The invalidity or unenforceability of any provision of the Award Agreement shall not affect the validity
or enforceability of any other provision of the Award Agreement, and each other provision of the Award Agreement shall be severable
and enforceable to the extent permitted by law.

 

    Terms and Conditions - Page 6

    

    

 

(i)
No Rights to Service. Nothing contained in the Award Agreement shall be construed as giving Grantee any right to be retained,
in any position, as a director, officer, employee, or consultant of the Company or its Affiliates, or shall interfere with or
restrict in any way the rights of the Company or its Affiliates, which are hereby expressly reserved, to remove, terminate or
discharge Grantee at any time for any reason whatsoever or for no reason, subject to the Company’s articles of incorporation,
bylaws and other similar governing documents and applicable law.

 

(j)
Section 409A. It is intended that the Award Agreement and the Option will be exempt from (or in the alternative will comply
with) Code Section 409A, and the Award Agreement shall be administered accordingly and interpreted and construed on a basis consistent
with such intent. This Section 12(j) shall not be construed as a guarantee of any particular tax effect for Grantee’s
benefits under the Award Agreement and the Company does not guarantee that any such benefits will satisfy the provisions of Code
Section 409A or any other provision of the Code.

 

(k)
Further Assurances. The Grantee agrees, upon demand of the Company or the Board, to do all acts and execute, deliver and
perform all additional documents, instruments and agreements that may be reasonably required by the Company or the Board, as the
case may be, to implement the provisions and purposes of the Award Agreement and the Plan.

 

 

Terms
and Conditions - Page 7Exhibit 10.4

 

INDEMNIFICATION
AGREEMENT

FOR

MOVANO
INC.

 

This
Indemnification Agreement (this “Agreement”) is effective as of [●], between Movano Inc., a Delaware
corporation (the “Company”), and [●] (“Indemnitee”).

 

RECITALS

 

A.
Indemnitee’s service to the Company substantially benefits the Company.

 

B.
Individuals are reluctant to serve as directors or officers of corporations or in certain other capacities unless they are
provided with adequate protection through insurance or indemnification against the risks of claims and actions against them
arising out of such service.

 

C. Indemnitee
does not regard the protection currently provided by applicable law, the Company’s governing documents and any insurance
as adequate under the present circumstances, and Indemnitee may not be willing to serve as a director or officer without additional
protection.

 

D. In
order to induce Indemnitee to continue to provide services to the Company, it is reasonable, prudent and necessary for the Company
to contractually obligate itself to indemnify, and to advance expenses on behalf of, Indemnitee as permitted by applicable law.

 

E. This
Agreement is a supplement to and in furtherance of the indemnification provided in the Company’s certificate of incorporation
and bylaws, and any resolutions adopted pursuant thereto, and this Agreement shall not be deemed a substitute therefor, nor shall
this Agreement be deemed to limit, diminish or abrogate any rights of Indemnitee thereunder.

 

The
parties therefore agree as follows:

 

1. Definitions.

 

(a) A
“Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of
any of the following events:

 

(i) Acquisition
of Stock by Third Party. Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or
indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s
then outstanding securities; provided that, notwithstanding the foregoing, a Change in Control shall not be deemed to occur
(A) on account of the acquisition of securities of the Company directly from the Company, (B) on account of the acquisition of
securities of the Company by an investor, any affiliate thereof or any other Person that acquires the Company’s securities
in a transaction or series of related transactions the primary purpose of which is to obtain financing for the Company through
the issuance of equity securities or (C) solely because the level of beneficial ownership held by any Person (the “Subject
Person”) exceeds the designated percentage threshold of the outstanding voting securities as a result of a repurchase
or other acquisition of voting securities by the Company reducing the number of shares outstanding, provided that if a
Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of voting securities by
the Company, and after such share acquisition, the Subject Person becomes the Beneficial Owner of any additional voting securities
that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then outstanding voting securities
Owned by the Subject Person over the designated percentage threshold, then a Change in Control shall be deemed to occur;

 

    1

     

    

 

(ii) Change
in Board Composition. During any period of two (2) consecutive years (not including any period prior to the execution of this
Agreement), individuals who at the beginning of such period constitute the Company’s board of directors, and any new directors
(other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described
in Sections 1(a)(i), 1(a)(iii) or 1(a)(iv) whose election by the board of directors or nomination for election by
the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who
either were directors at the beginning of the period or whose election or nomination for election was previously so approved,
cease for any reason to constitute at least a majority of the members of the Company’s board of directors;

 

(iii) Corporate
Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity)
more than fifty percent (50%) of the combined voting power of the voting securities of the surviving entity outstanding immediately
after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing
body of such surviving entity;

 

(iv) Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale, lease,
exchange, exclusive license or other disposition by the Company of all or substantially all of the consolidated assets of the
Company and any subsidiary, other than a sale, lease, exclusive license or other disposition of all or substantially all of the
consolidated assets of the Company and any subsidiary to an entity, more than fifty percent of the combined voting power of the
voting securities of which are beneficially owned by stockholders of the Company in substantially the same proportions as their
ownership of the outstanding voting securities of the Company immediately prior to such sale, lease, license or other disposition;
and

 

(v) Other
Events. Any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange
Act of 1934, as amended (the “Act”), whether or not the Company is then subject to such reporting requirement.

 

For
purposes of this Section 1(a), the following terms shall have the following meanings:

 

(1) “Person”
shall have the meaning as set forth in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended; provided,
however, that “Person” shall exclude (i) the Company, (ii) any trustee or other fiduciary
holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly,
by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

 

(2) “Beneficial
Owner” shall have the meaning given to such term in Rule 13d-3 under the Act, as amended; provided, however,
that “Beneficial Owner” shall exclude any Person otherwise becoming a Beneficial Owner by reason of (i) the
stockholders of the Company approving a merger of the Company with another entity or (ii) the Company’s board of directors
approving a sale of securities by the Company to such Person.

 

(b) “Corporate
Status” describes the status of a person who is or was a director, trustee, general partner, managing member, officer,
employee, agent or fiduciary of the Company or any other Enterprise.

 

(c) “DGCL”
means the General Corporation Law of the State of Delaware.

 

    2

     

    

 

(d) “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.

 

(e) “Enterprise”
means the Company and any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan
or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, trustee, general partner,
managing member, officer, employee, agent or fiduciary.

 

(f) “Expenses”
include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees and costs of experts and other professionals,
witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees,
fax transmission charges, secretarial services, any federal, state, local or foreign taxes imposed on Indemnitee as a result of
the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements,
obligations or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or
defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses also include
(i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium,
security for, and other costs relating to any cost bond, supersedeas bond or other appeal bond or their equivalent, and (ii) for
purposes of Section 12(d), Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense
of Indemnitee’s rights under this Agreement or under any directors’ and officers’ liability insurance policies
maintained by the Company. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments
or fines against Indemnitee.

 

(g) “Independent
Counsel” means a law firm, or a partner or 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 as Independent Counsel with respect to matters concerning Indemnitee under this
Agreement, or 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.

 

(h) “Proceeding”
means any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute
resolution mechanism, investigation, inquiry, administrative hearing or proceeding, whether brought in the right of the Company
or otherwise and whether of a civil, criminal, administrative or investigative nature, including any appeal therefrom, in which
Indemnitee was, is or will be involved as a party, a potential party, a non-party witness or otherwise by reason of (i) the
fact that Indemnitee is or was a director or officer of the Company, or (ii) any action or inaction on Indemnitee’s
part while acting pursuant to such Indemnitee’s Corporate Status, in each case whether or not serving in such capacity at
the time any liability or Expense is incurred for which indemnification or advancement of expenses can be provided under this
Agreement.

 

(i) Reference
to “other enterprises” shall include employee benefit plans; references to “fines” shall
include any excise taxes assessed on a person with respect to any employee benefit plan; references to “serving at the
request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes
duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants
or beneficiaries; and a person who acted in good faith and in a manner he or she reasonably believed to be in the best interests
of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed
to the best interests of the Company” as referred to in this Agreement.

 

    3

     

    

 

2. Indemnity
in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 2
if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or
in the right of the Company to procure a judgment in its favor. Pursuant to this Section 2, Indemnitee shall be indemnified
to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement actually
and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter
therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests
of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct
was unlawful.

 

3. Indemnity
in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance with the provisions
of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by
or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be
indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee
or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted
in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company. No indemnification
for Expenses shall be made under this Section 3 in respect of any claim, issue or matter as to which Indemnitee shall
have been adjudged liable to the Company, unless and only to the extent that the Delaware Court of Chancery or the court in which
the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the
circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification for such expenses as the Delaware Court
of Chancery or such other court shall deem proper.

 

4. Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. To the extent that Indemnitee is a party to or a participant in
and is successful (on the merits or otherwise) in defense of any Proceeding or any claim, issue or matter therein, the Company
shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf
in connection therewith. To the extent permitted by applicable law, if Indemnitee is not wholly successful in such Proceeding
but is successful, on the merits or otherwise, in defense of 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 (a) each successfully resolved claim, issue or matter and (b) any claim, issue or matter related
to any such successfully resolved claim, issuer or matter. For purposes of this section, 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.

 

5. Indemnification
for Expenses of a Witness. To the extent that Indemnitee is, by reason of his or her Corporate Status, a witness in any Proceeding
to which Indemnitee is not a party, Indemnitee shall be indemnified to the extent permitted by applicable law against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

 

6. Additional
Indemnification.

 

(a) Notwithstanding
any limitation in Sections 2, 3 or 4, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable
law if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding (including a Proceeding by or
in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred by Indemnitee or on his or her behalf in connection with the Proceeding or any claim, issue or
matter therein.

 

    4

     

    

 

(b) For
purposes of Section 6(a), the meaning of the phrase “to the fullest extent permitted by applicable law”
shall include, but not be limited to:

 

(i) the
fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement,
or the corresponding provision of any amendment to or replacement of the DGCL; and

 

(ii) the
fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement
that increase the extent to which a corporation may indemnify its officers and directors.

 

(c) If
Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses,
but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to
which Indemnitee is entitled.

 

7. Exclusions.
Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity
in connection with any Proceeding (or any part of any Proceeding):

 

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

 

(b) for
an accounting or disgorgement of profits pursuant to Section 16(b) of the Act, as amended, or similar provisions of federal,
state or local statutory law or common law, if Indemnitee is held liable therefor (including pursuant to any settlement arrangements);

 

(c) for
any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits
realized by Indemnitee from the sale of securities of the Company, as required in each case under the Act, as amended (including
any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley
Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase
and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable
therefor (including pursuant to any settlement arrangements);

 

(d) except
as otherwise provided in Section 12(e), initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated
by Indemnitee against the Company or its directors, officers, employees, agents or other indemnitees, unless (i) the Company’s
board of directors authorized the Proceeding (or the relevant part of the Proceeding) prior to its initiation, (ii) such payment
arises in connection with any mandatory counterclaim or cross-claim or affirmative defense brought or raised by Indemnitee in
any Proceeding (or any part of any Proceeding), or (iii) the Company provides the indemnification, in its sole discretion,
pursuant to the powers vested in the Company under applicable law; or

 

(e) if
prohibited by applicable law.

 

    5

     

    

 

8. Advances
of Expenses. The Company shall advance the Expenses incurred by Indemnitee in connection with any Proceeding, and such advancement
shall be made as soon as reasonably practicable, but in any event no later than thirty (30) days, after the receipt by the Company
of a written statement or statements requesting such advances from time to time (which shall include invoices received by Indemnitee
in connection with such Expenses but, in the case of invoices in connection with legal services, any references to legal work
performed or to expenditure made that would cause Indemnitee to waive any privilege accorded by applicable law shall not be included
with the invoice). Advances shall be unsecured and interest free and made without regard to Indemnitee’s ability to repay
such advances. Indemnitee hereby undertakes to repay any advance to the extent that it is ultimately determined that Indemnitee
is not entitled to be indemnified by the Company. This Section 8 shall not apply to the extent advancement is prohibited
by law and shall not apply to any Proceeding for which indemnity is not permitted under this Agreement, but shall apply to any
Proceeding referenced in Section  7(b) or Section 7(c) prior to a determination that Indemnitee is not entitled
to be indemnified by the Company.

 

9. Procedures
for Notification and Defense of Claim.

 

(a) Indemnitee
shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement
of Expenses as soon as reasonably practicable following the receipt by Indemnitee of notice thereof. The written notification
to the Company shall include, in reasonable detail, a description of the nature of the Proceeding and the facts underlying the
Proceeding. The failure by Indemnitee to notify the Company will not relieve the Company from any liability which it may have
to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute
a waiver by Indemnitee of any rights.

 

(b) If,
at the time of the receipt of a notice of a Proceeding pursuant to the terms hereof, the Company has directors’ and officers’
liability insurance in effect, the Company shall give prompt notice of the commencement of the Proceeding to the insurers in accordance
with the procedures set forth in the applicable policies. The Company shall thereafter take all commercially-reasonable action
to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with
the terms of such policies.

 

(c) In
the event the Company may be obligated to make any indemnity in connection with a Proceeding, the Company shall be entitled to
assume the defense of such Proceeding with counsel approved by Indemnitee, which approval shall not be unreasonably withheld,
upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel
by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee for any fees or expenses
of counsel subsequently incurred by Indemnitee with respect to the same Proceeding. Notwithstanding the Company’s assumption
of the defense of any such Proceeding, the Company shall be obligated to pay the fees and expenses of Indemnitee’s counsel
to the extent (i) the employment of counsel by Indemnitee is authorized by the Company, (ii) counsel for the Company
or Indemnitee shall have reasonably concluded that there is a conflict of interest between the Company and Indemnitee in the conduct
of any such defense such that Indemnitee needs to be separately represented, (iii) the fees and expenses are non-duplicative
and reasonably incurred in connection with Indemnitee’s role in the Proceeding despite the Company’s assumption of
the defense, (iv) the Company is not financially or legally able to perform its indemnification obligations or (v) the
Company shall not have retained, or shall not continue to retain, such counsel to defend such Proceeding. The Company shall have
the right to conduct such defense as it sees fit in its sole discretion. Regardless of any provision in this Agreement, Indemnitee
shall have the right to employ counsel in any Proceeding at Indemnitee’s personal expense. The Company shall not be entitled,
without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Company.

 

(d) Indemnitee
shall give the Company such information and cooperation in connection with the Proceeding as may be reasonably appropriate.

 

(e) Indemnitee
shall not settle any Proceeding (or any part thereof) without the Company’s prior written consent, which shall not be unreasonably
withheld, delayed or conditioned.

 

(f) The
Company shall not settle any Proceeding (or any part thereof) without Indemnitee’s prior written consent, which shall not
be unreasonably withheld, delayed or conditioned.

 

    6

     

    

 

10. Procedures
upon Application for Indemnification. 

 

(a) To
obtain indemnification, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation
and information as is reasonably available to Indemnitee and as is reasonably necessary to determine whether and to what extent
Indemnitee is entitled to indemnification following the final disposition of the Proceeding. The Company shall, as soon as reasonably
practicable after receipt of such a request for indemnification, advise the board of directors that Indemnitee has requested indemnification.
Any delay in providing the request will not relieve the Company from its obligations under this Agreement, except to the extent
such failure is prejudicial.

 

(b) Upon
written request by Indemnitee for indemnification pursuant to Section 10(a), a determination, if required by applicable
law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case (i) if a Change in Control
shall have occurred, by Independent Counsel in a written opinion to the Company’s board of directors, a copy of which shall
be delivered to Indemnitee or (ii) if a Change in Control shall not have occurred, (A) by a majority vote of the Disinterested
Directors, even though less than a quorum of the Company’s board of directors, (B) by a committee of Disinterested
Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Company’s
board of directors, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent
Counsel in a written opinion to the Company’s board of directors, a copy of which shall be delivered to Indemnitee or (D) if
so directed by the Company’s board of directors, by the stockholders of the Company. If it is so determined that Indemnitee
is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee
shall cooperate reasonably with the person, persons or entity making the 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 that is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably
necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements) reasonably incurred
by Indemnitee or on Indemnitee’s behalf in so cooperating with the person, persons or entity making such determination shall
be borne by the Company, to the extent permitted by applicable law.

 

(c) In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(b),
the Independent Counsel shall be selected as provided in this Section 10(c). If a Change in Control shall not have
occurred, the Independent Counsel shall be selected by the Company’s board of directors, and the Company shall give written
notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. If a Change in Control shall
have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be
made by the Company’s board of directors, in which event the preceding sentence shall apply), and Indemnitee shall give
written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee
or the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been given, deliver
to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section 1 of this Agreement, and the objection shall set forth with particularity the
factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel.
If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel
unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within twenty
(20) days after the later of (i) submission by Indemnitee of a written request for indemnification pursuant to Section 10(a)
hereof and (ii) the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected
to, either the Company or Indemnitee may petition the Delaware Court of Chancery for resolution of any objection, which shall
have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as
Independent Counsel of a person selected by the 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 10(b)
hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 12(a) of this
Agreement, the Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to
the applicable standards of professional conduct then prevailing).

 

    7

     

    

 

(d) The
Company agrees to pay the reasonable fees and expenses of any Independent Counsel 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.

 

(e) The
Company promptly will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to
indemnification, including a description of any reason or basis for which indemnification has been denied.

 

11. Presumptions
and Effect of Certain Proceedings.

 

(a) In
making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement
if Indemnitee has submitted a request for indemnification in accordance with Section 10(a) of this Agreement, and
the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption in connection
with the making by such person, persons or entity of any determination contrary to that presumption.

 

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

 

(c) For
purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith to the extent Indemnitee relied
in good faith on (i) the records or books of account of the Enterprise, including financial statements, (ii) information
supplied to Indemnitee by the officers or directors of the Enterprise in the course of their duties, (iii) the advice of
legal counsel for the Enterprise or its board of directors or counsel selected by any committee of the board of directors or (iv) information
or records given or reports made to the Enterprise by an independent certified public accountant, an appraiser, investment banker
or other expert selected with reasonable care by the Enterprise or its board of directors or any committee of the board of directors.
The provisions of this Section 11(c) shall not be deemed to be exclusive or to limit in any way the other circumstances
in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

 

(d) Neither
the knowledge, actions nor failure to act of any other director, officer, agent or employee of the Enterprise shall be imputed
to Indemnitee for purposes of determining the right to indemnification under this Agreement.

 

    8

     

    

 

12. Remedies
of Indemnitee.

 

(a) Subject
to Section 12(e), in the event that (i) a determination is made pursuant to Section 10 of this Agreement
that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made
pursuant to Section 8 or 12(d) of this Agreement, (iii) no determination of entitlement to indemnification
shall have been made pursuant to Section 10 of this Agreement within ninety (90) days after the later of the receipt
by the Company of the request for indemnification or the final disposition of the Proceeding, (iv) payment of indemnification
pursuant to this Agreement is not made (A) within ten (10) days after a determination has been made that Indemnitee is entitled
to indemnification or (B) with respect to indemnification pursuant to Sections 4, 5 and 12(d) of this Agreement,
within thirty (30) days after receipt by the Company of a written request therefor, or (v) the Company or any other person
or entity takes or threatens to take 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
to Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by the Delaware Court of Chancery of his or her entitlement
to such indemnification or advancement of Expenses. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration
with respect to his or her entitlement to such indemnification or advancement of Expenses, to be conducted by a single arbitrator
pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding
seeking an adjudication or an award in arbitration within 180 calendar days following the date on which Indemnitee first has the
right to commence such proceeding pursuant to this Section 12(a); provided, however, that the foregoing clause shall not
apply in respect of a proceeding brought by Indemnitee to enforce his or her rights under Section 5 of this Agreement.

 

(b) 
The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration in accordance with
this Agreement.

 

(c) Neither
(i) the failure of the Company, its board of directors, any committee or subgroup of the board of directors, Independent
Counsel or stockholders to have made a determination that indemnification of Indemnitee is proper in the circumstances because
Indemnitee has met the applicable standard of conduct, nor (ii) an actual determination by the Company, its board of directors,
any committee or subgroup of the board of directors, Independent Counsel or stockholders that Indemnitee has not met the applicable
standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has or has not met the applicable
standard of conduct. In the event that a determination shall have been made pursuant to Section 10 of this Agreement
that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 12
shall be conducted in all respects as a de novo trial, or arbitration, on the merits, and Indemnitee shall not be prejudiced
by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 12,
the Company shall, to the fullest extent not prohibited by law, have the burden of proving Indemnitee is not entitled to indemnification
or advancement of Expenses, as the case may be.

 

(d) To
the fullest extent not prohibited by law, the Company shall be precluded from asserting in any judicial proceeding or arbitration
commenced pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding
and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions
of this Agreement. If a determination shall have been made pursuant to Section 10 of this Agreement that Indemnitee
is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced
pursuant to this Section 12, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a
material fact necessary to make Indemnitee’s statements not materially misleading, in connection with the request for indemnification,
or (ii) a prohibition of such indemnification under applicable law.

 

    9

     

    

 

(e) The
Company shall, to the fullest extent permitted by law, indemnify Indemnitee against any and all Expenses and, if requested by
Indemnitee, shall (within ten calendar 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 or on behalf of Indemnitee in connection with any action
brought by Indemnitee for indemnification or advancement of Expenses from the Company under this Agreement or under any directors’
and officers’ liability insurance policies maintained by the Company if, in the case of indemnification, Indemnitee is wholly
successful on the underlying claims; if Indemnitee is not wholly successful on the underlying claims, then such indemnification
shall be only to the extent Indemnitee is successful on such underlying claims or otherwise as permitted by law, whichever is
greater.

 

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

 

13. Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable
to Indemnitee, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amounts incurred by Indemnitee, whether
for Expenses, judgments, fines or amounts paid or to be paid in settlement, 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 events and transactions
giving rise to such Proceeding; and (ii) the relative fault of Indemnitee and the Company (and its other directors, officers,
employees and agents) in connection with such events and transactions.

 

14. Non-exclusivity.
The rights of indemnification and to receive advancement of Expenses 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 Company’s certificate of incorporation
or bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. To the extent that a change in Delaware
law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded
currently under the Company’s certificate of incorporation and 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, subject to the restrictions
expressly set forth herein or therein. Except as expressly set forth herein, 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. Except as expressly set forth
herein, 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.

 

15. No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable
hereunder (or for which advancement is provided hereunder) if and to the extent that Indemnitee has otherwise actually received
payment for such amounts under any insurance policy, contract, agreement or otherwise.

 

16. Insurance.
At all times while Indemnity is serving as a director of the Company and for six years thereafter, the Company will maintain
an insurance policy or policies at its sole and exclusive expense providing liability insurance for directors, trustees, general
partners, managing members, officers, employees, agents or fiduciaries of the Company or any other Enterprise, Indemnitee shall
be covered by such policy or policies to the same extent as the most favorably-insured persons under such policy or policies in
a comparable position.

 

17. Subrogation.
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.

 

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18. Services
to the Company. Indemnitee agrees to serve as a director or officer of the Company or, at the request of the Company, as a
director, trustee, general partner, managing member, officer, employee, agent or fiduciary of another Enterprise, for so long
as Indemnitee is duly elected or appointed or until Indemnitee tenders his or her resignation or is removed from such position.
Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation
imposed by operation of law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee
in such position. This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or
any Enterprise) and Indemnitee. Indemnitee specifically acknowledges that any employment with the Company (or any of its subsidiaries
or any Enterprise) is at will, and Indemnitee may be discharged at any time for any reason, with or without cause, with or without
notice, except as may be otherwise expressly provided in any executed, written employment contract between Indemnitee and the
Company (or any of its subsidiaries or any Enterprise), any existing formal severance policies adopted by the Company’s
board of directors or, with respect to service as a director or officer of the Company, the Company’s certificate of incorporation
or bylaws or the DGCL. No such document shall be subject to any oral modification thereof.

 

19. Duration.
This Agreement shall continue until and terminate ten (10) years after the date that Indemnitee shall have ceased to serve
as a director or officer of the Company or as a director, trustee, general partner, managing member, officer, employee, agent
or fiduciary of any other Enterprise, as applicable unless a Proceeding is then pending in respect of which Indemnitee is granted
rights of indemnification or advancement of Expenses hereunder, in which case, this Agreement shall not terminate until the conclusion
of any such Proceeding and of any proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement relating
thereto.

 

20. Successors.
This Agreement shall be binding upon the Company and its successors and assigns, 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, and shall
inure to the benefit of Indemnitee and Indemnitee’s heirs, executors and administrators. The Company shall require and cause
any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all of the
business or assets of the Company, by written agreement, expressly to assume and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform if no such succession had taken place.

 

21. Severability.
Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act
in violation of applicable law. The Company’s inability, pursuant to court order or other applicable law, to perform its
obligations under this Agreement shall not constitute a breach of this Agreement. If any provision or provisions of this Agreement
shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability
of the remaining provisions of this Agreement (including without limitation, each portion of any section of this Agreement containing
any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not
in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such
provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum
effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including,
without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or
unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested
thereby.

 

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

 

23. Entire
Agreement. 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 this Agreement is a supplement to and in furtherance of the Company’s
certificate of incorporation and bylaws and applicable law.

 

24. Modification
and Waiver. No supplement, modification or amendment to this Agreement shall be binding unless executed in writing by the
parties hereto. No amendment, alteration or repeal of this Agreement shall adversely affect any right of Indemnitee under this
Agreement in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment,
alteration or repeal. No waiver of any of the provisions of this Agreement shall constitute or be deemed a waiver of any other
provision of this Agreement nor shall any waiver constitute a continuing waiver.

 

25. Notices.
Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient when delivered personally
(including by courier or overnight delivery service) or sent by fax (with confirmation of receipt and dispatch of a confirmation
copy by first-class mail, with postage prepaid, no later than the next following business day) or forty-eight (48) hours after
being deposited in the mail, as certified or registered mail, with postage prepaid, and addressed to the party to be notified
at such party’s address as set forth below or as subsequently modified by written notice. Subject to the limitations set
forth in Delaware General Corporation Law Section 232(e), Indemnitee consents to the delivery of any notice given by the Company
by (i) facsimile telecommunication to such Indemnitee’s facsimile number as set forth in the Company’s records,
(ii) electronic mail to such Indemnitee’s electronic mail address as set forth in the Company’s records, (iii) posting
on an electronic network together with separate notice to such Indemnitee of such specific posting (including separate notice
pursuant to clause (i), (ii) or (iv) hereof, or (iv) any other form of electronic transmission (as defined in the Delaware
General Corporation Law) directed to such Indemnitee.

 

26. Applicable
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with
respect to any arbitration commenced by Indemnitee pursuant to Section 12(a) of this Agreement, 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 Delaware Court of Chancery, 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
of Chancery for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint,
to the extent such party is not otherwise subject to service of process in the State of Delaware, The Company Trust Corporation,
Wilmington, Delaware as its agent in the State of Delaware as such party’s agent for acceptance of legal process in connection
with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally
within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware
Court of Chancery, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought
in the Delaware Court of Chancery has been brought in an improper or inconvenient forum.

 

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27. Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including
pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission
method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for
all purposes.

 

28. Captions.
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.

 

[Remainder
of Page Left Blank Intentionally–Signatures Follow]

 

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IN
WITNESS WHEREOF, the parties hereto have executed this Indemnification Agreement as of the date first written above. This Agreement
may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute
one instrument. Counterparts may be delivered by electronic transmission including by email in PDF format or other readily accessible
format which permits the viewer to observe a facsimile copy of a manual signature and such counterparts shall be deemed to be
original signature pages for all purposes.

 

	 	THE
    COMPANY:
	 	 	 
	 	MOVANO
    INC.
	 	 	 
	 	By:	                    
	 	 	Michael Leabman, President

 

	 	Address:
    	6200
    Stoneridge Mall Rd., Suite 300
	 	 	Pleasanton,
    CA 94588

 

	 	INDEMNITEE:
	 	 	 
	 	        
	 	Name:	 
	 	 	 
	 	Address:

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