Document:

Exhibit 10.2

 

INDEMNITY AGREEMENT

 

THIS INDEMNITY AGREEMENT (this “Agreement”)
is made as of October 18, 2021.

 

Between:

 

		(1)	Social Capital Hedosophia Holdings Corp. IV,
an exempted company incorporated under the laws of the Cayman Islands with registered office at PO Box 309, Ugland House, Grand Cayman,
KY1-1104, Cayman Islands (the “Company”); and

 

		(2)	Sarah C. Leary (“Indemnitee”).

 

Whereas:

 

		(A)	Highly competent persons have become more reluctant to serve publicly-held 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 such companies;

 

		(B)	The board of directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving
the Company and any of its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread
practice among publicly traded companies 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 companies 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 amended and restated memorandum and articles of association of the Company (the “Articles”) provide for
the indemnification of the officers and directors of the Company. The Articles 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 board
of directors, officers and other persons with respect to indemnification, hold harmless, exoneration, advancement and reimbursement rights;

 

		(C)	The uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such
persons;

 

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

 

     

     

    

 

		(E)	It is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and
to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law and the Articles so that they will serve
or continue to serve the Company free from undue concern that they will not be so protected against liabilities;

 

		(F)	This Agreement is a supplement to and in furtherance of the Articles and any resolutions adopted pursuant thereto, and shall not be
deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

		(G)	Indemnitee may not be willing to serve as an officer or director, advisor or in another capacity 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 the premises and the covenants
contained herein and subject to the provisions of the letter agreement dated as of the date hereof between the Company and Indemnitee,
the Company and Indemnitee do hereby covenant and agree as follows:

 

TERMS AND CONDITIONS

 

		1	SERVICES TO THE COMPANY

 

In consideration of the Company’s covenants and obligations
hereunder, Indemnitee will serve or continue to serve as an officer, director, advisor, key employee or in any other capacity of the Company,
as applicable, for so long as Indemnitee is duly elected, appointed or retained or until Indemnitee tenders Indemnitee’s resignation
or until Indemnitee is removed. The foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee
has ceased to serve as a director, officer, advisor, key employee or in any other capacity of the Company, as provided in Section ‎17.
This Agreement, however, shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company
beyond any period otherwise required by law or by other agreements or commitments of the parties, if any.

 

		2	DEFINITIONS

 

As used in this Agreement:

 

		2.1	References to “agent” shall mean any person who is or was a director, officer or employee of the Company or a subsidiary
of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity as a
director, officer, employee, advisor, fiduciary or other official of another company, corporation, partnership, limited liability company,
joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company or a
subsidiary of the Company.

 

    2

     

    

 

		2.2	The terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings set forth in
Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

		2.3	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:

 

		(a)	Acquisition of Shares by Third Party. Other than an affiliate of SCH Sponsor IV LLC, ChaChaCha SPAC D, LLC or Hedosophia Acquisitions
D Limited, any Person (as defined below) is or becomes the Beneficial Owner, 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 entitled to vote generally
in the election of directors, unless (1) the change in the relative Beneficial Ownership of the Company’s securities by any Person
results solely from a reduction in the aggregate number of outstanding shares entitled to vote generally in the election of directors,
or (2) such acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition would not constitute
a Change in Control under part (c) of this definition;

 

		(b)	Change in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose election
by the Board or nomination for election by the Company’s shareholders was approved by a vote of at least two-thirds of the directors
then still in office who were directors on the date hereof or whose election or nomination for election was previously so approved (collectively,
the “Continuing Directors”), cease for any reason to constitute at least a majority of the members of the Board;

 

		(c)	Corporate Transactions. The effective date of a merger, share exchange, asset acquisition, share purchase, reorganization
                                                               or similar business combination, involving the Company and one or more businesses (a “Business Combination”), in
                                                               each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were
                                                               the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business
                                                               Combination beneficially own, directly or indirectly, more than fifty-one percent (51%) of the combined voting power of the then
                                                               outstanding securities of the Company entitled to vote generally in the election of directors resulting from such Business
                                                               Combination (including, without limitation, a company or corporation which as a result of such transaction owns the Company or all
                                                               or substantially all of the Company’s assets either directly or through one or more Subsidiaries) in substantially the same
                                                               proportions as their ownership immediately prior to such Business Combination, of the securities entitled to vote generally in the
                                                               election of directors; (2) other than an affiliate of SCH Sponsor IV LLC, ChaChaCha SPAC D, LLC or Hedosophia Acquisitions D
                                                               Limited, no Person (excluding any company or corporation resulting from such Business Combination) is the Beneficial Owner, directly
                                                               or indirectly, of fifteen percent (15%) or more of the combined voting power of the then outstanding securities entitled to vote
                                                               generally in the election of directors of the surviving company or corporation except to the extent that such ownership existed
prior to the Business Combination; and (3) at least a majority of the Board of Directors of the company or corporation resulting from
such Business Combination were Continuing Directors at the time of the execution of the initial agreement, or of the action of the Board
of Directors, providing for such Business Combination;

 

    3

     

    

 

		(d)	Liquidation. The approval by the shareholders of the Company of a complete liquidation of the Company or an agreement or series
of agreements for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring
the Company’s current receivables or escrows due (or, if such approval is not required, the decision by the Board to proceed with
such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

		(e)	Other Events. There occurs 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 a response to any similar item on any similar schedule or form) promulgated under the Exchange Act, whether
or not the Company is then subject to such reporting requirement.

 

		2.4	“Corporate Status” describes the status of a person who is or was a director, director nominee, officer, trustee,
general partner, manager, managing member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which
such person is or was serving at the request of the Company.

 

		2.5	“Delaware Court” shall mean the Court of Chancery of the State of Delaware.

 

		2.6	“Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding
(as defined below) in respect of which indemnification is sought by Indemnitee.

 

		2.7	“Enterprise” shall mean the Company and any other company, corporation, constituent corporation (including any
constituent of a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is
a party, limited liability company, partnership, 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, officer, trustee, general partner, manager, managing member, fiduciary, employee
or agent.

 

		2.8	“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 

		2.9	“Expenses” shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever, including,
without limitation, all attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel
expenses, fees of private investigators and professional advisors, duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations or expenses in connection
with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, settlement or appeal of, or
otherwise participating in, a Proceeding, including reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise
compensated by the Company or any third party. Expenses also shall include Expenses incurred in connection with any appeal resulting from
any Proceeding, including, without limitation, the principal, premium, security for, and other costs relating to any cost bond, supersedeas
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.

 

    4

     

    

 

		2.10	“Independent Counsel” shall mean a law firm or a member of a law firm with significant experience in matters of
corporate law and neither presently is, nor in the past five 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.

 

		2.11	References to “fines” shall include any excise tax assessed on Indemnitee 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,
agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary
with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be
deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement.

 

		2.12	The term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as in effect
on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any Subsidiaries (as defined
below) of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary of the Company or of any corporation owned,
directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of shares of the Company;
and (iv) any trustee or other fiduciary holding securities under an employee benefit plan of the Company or of a Subsidiary of the Company
or of a company or corporation owned directly or indirectly by the shareholders of the Company in substantially the same proportions as
their ownership of shares of the Company.

 

    5

     

    

 

		2.13	The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding,
whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims),
criminal, administrative, or investigative or related nature, in which Indemnitee was, is, will or might
be involved as a party or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of
any action (or failure to act) taken by Indemnitee or of any action (or failure to act) on Indemnitee’s part while acting as a director,
director nominee or officer of the Company, or by reason of the fact that Indemnitee is or was serving at the request of the Company as
a director, director nominee or officer, trustee, general partner, manager, managing member, fiduciary, employee or agent of any other
Enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification,
reimbursement, or advancement of expenses can be provided under this Agreement.

 

		2.14	The term “Subsidiary,” with respect to any Person, shall mean any company, corporation, limited liability company,
partnership, joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity interest
is owned, directly or indirectly, by that Person.

 

		3	INDEMNITY IN THIRD-PARTY PROCEEDINGS

 

To the fullest extent permitted by applicable law and the
Articles, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 3 if Indemnitee
was, is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding, other than
a Proceeding by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant
to this Section 3, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses, judgments, liabilities, fines,
penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or
in respect of such Expenses, judgments, fines, penalties 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 Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of
a criminal Proceeding, had no reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

		4	INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY

 

To the fullest extent permitted by applicable law and the
Articles, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 4 if Indemnitee
was, is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding by or in the
right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 4,
Indemnitee shall be indemnified, held harmless and exonerated 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 Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. No indemnification, hold
harmless or exoneration for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee
shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that any court
in which the Proceeding was brought or the Delaware Court 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, to be held harmless
or to exoneration.

 

    6

     

    

 

		5	INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL

 

Notwithstanding any other provisions of this Agreement except
for Section 27, to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status, a party to (or a participant
in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or
in part, the Company shall, to the fullest extent permitted by applicable law and the Articles, indemnify, hold harmless and exonerate
Indemnitee against all Expenses actually and reasonably incurred by Indemnitee 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, to the fullest extent permitted by applicable law and the Articles, indemnify, hold harmless and exonerate
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. If Indemnitee is not wholly successful in such Proceeding, the Company also shall, to the
fullest extent permitted by applicable law and the Articles, indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably
incurred in connection with a claim, issue or matter related to any claim, issue, or matter on which Indemnitee was successful. For purposes
of this Section 5 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.

 

		6	INDEMNIFICATION FOR EXPENSES OF A WITNESS

 

Notwithstanding any other provision of this Agreement except
for Section 27, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness or deponent in any Proceeding
to which Indemnitee is not a party or threatened to be made a party, Indemnitee shall, to the fullest extent permitted by applicable law
and the Articles, be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by Indemnitee or
on Indemnitee’s behalf in connection therewith.

 

		7	ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS

 

		7.1	Notwithstanding any limitation in Section 3, 4, or 5, except for Section 27, the Company shall, to the fullest extent permitted by
applicable law and the Articles, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made
a party to 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, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection
with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred
by Indemnitee in connection with the Proceeding. No indemnification, hold harmless or exoneration rights shall be available under this
Section 7.1 on account of Indemnitee’s conduct which constitutes a breach of Indemnitee’s duties to the Company or its shareholders
or is an act or omission not in good faith or which involves intentional misconduct or a knowing violation of applicable law.

 

    7

     

    

 

		7.2	Notwithstanding any limitation in Section 3, 4, 5 or 7.1, except for Section 27, the Company shall, to the fullest extent permitted
by applicable law and the Articles, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be
made a party to 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, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable
in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably
incurred by Indemnitee in connection with the Proceeding.

 

		8	CONTRIBUTION IN THE EVENT OF JOINT LIABILITY

 

		8.1	To the fullest extent permissible under applicable law and the Articles, if the indemnification, hold harmless and/or exoneration
rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu
of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee,
whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with
any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of
contribution it may have at any time against Indemnitee.

 

		8.2	The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

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

 

		9	EXCLUSIONS

 

The Company shall not be obligated under this Agreement to
make any indemnification, advance expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

		(a)	for which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement
provision and which payment has not subsequently been returned, except with respect to any excess beyond the amount actually received under any insurance
policy, contract, agreement, other indemnity or advancement provision or otherwise;

 

    8

     

    

 

		(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 Exchange Act (or any successor rule) or similar provisions of state statutory law or common law; or

 

		(c)	prior to a Change in Control, other than as provided in Sections 14.5 and 14.6 hereof, 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 or (ii) the Company provides the indemnification, hold harmless or exoneration payment, in its sole
discretion, pursuant to the powers vested in the Company under applicable law.

 

		10	ADVANCES OF EXPENSES; DEFENSE OF CLAIM

 

		10.1	Notwithstanding any provision of this Agreement to the contrary except for Section 27, and to the fullest extent not prohibited by
applicable law or the Articles, the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be
incurred by Indemnitee within three months) in connection with any Proceeding within ten (10) days after the receipt by the Company of
a statement or statements requesting such advances from time to time, prior to the final disposition of any Proceeding. Advances shall,
to the fullest extent permitted by law, be unsecured and interest free. Advances shall be made without regard to Indemnitee’s ability
to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to be indemnified, held harmless or exonerated under
the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing a Proceeding to enforce
this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed.
To the fullest extent required by applicable law, such payments of Expenses in advance of the final disposition of the Proceeding shall
be made only upon the Company’s receipt of an undertaking, by or on behalf of Indemnitee, to repay the advance to the extent that
it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement, the
Articles, applicable law or otherwise. This Section 10.1 shall not apply to any claim made by Indemnitee for which an indemnification,
hold harmless or exoneration payment is excluded pursuant to Section 9.

 

		10.2	The Company will be entitled to participate in the Proceeding at its own expense.

 

		10.3	The Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine,
penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

    9

     

    

 

		11	PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION

 

		11.1	Indemnitee agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any Proceeding or matter which may be subject to indemnification, hold harmless or exoneration
rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not relieve the Company
of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

		11.2	Indemnitee may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with
this Agreement. Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in Indemnitee’s
sole discretion. Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement to indemnification
shall be determined according to Section 12.1 of this Agreement.

 

		12	PROCEDURE UPON APPLICATION FOR INDEMNIFICATION

 

		12.1	A determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in
the specific case by one of the following methods, which shall be at the election of Indemnitee: (i) by a majority vote of the Disinterested
Directors, even though less than a quorum of the Board (ii) by Independent Counsel in a written opinion to the Board, a copy of which
shall be delivered to Indemnitee; or (iii) by vote of the shareholders by ordinary resolution. The Company will promptly 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. 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 reasonably 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 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 agrees to indemnify and to hold Indemnitee harmless therefrom.

 

    10

     

    

 

		12.2	In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12.1 hereof,
the Independent Counsel shall be selected as provided in this Section 12.2. The Independent Counsel shall be selected by Indemnitee (unless
Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written notice to the Company advising it
of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement. If the Independent Counsel is selected by the
Board, the Company shall give written notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so selected
and certifying that the Independent Counsel so selected meets the requirements of “Independent Counsel” as defined in Section
2 of this Agreement. 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 received, 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 2 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 of competent jurisdiction 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 11.2 hereof,
no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court
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 Delaware Court, and the person with respect to whom
all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12.1 hereof. Upon the due commencement
of any judicial proceeding or arbitration pursuant to Section 14.1 of this Agreement, Independent Counsel shall be discharged and relieved
of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

 

		12.3	The Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such Independent
Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant
hereto.

 

		13	PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS

 

		13.1	In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification
in accordance with Section 11.2 of this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection
with the making by any person, persons or entity of any determination contrary to that presumption. 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.

 

    11

     

    

  

		13.2	If the person, persons or entity empowered or selected under Section 12 of this Agreement 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, to the fullest extent
permitted by applicable law and the Articles, 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 final judicial determination that any or all such indemnification is expressly prohibited under
applicable law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional
fifteen (15) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith
requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto.

 

		13.3	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.

 

		13.4	For purposes of any determination of good faith, 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, including financial statements, or on information supplied to Indemnitee
by the directors, managers, managing members, or officers of the Enterprise in the course of their duties, or on the advice of legal counsel
for the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing member or on
information or records given or reports made to the Enterprise, its Board, any committee of the Board or any director, trustee, general
partner, manager or managing member by an independent certified public accountant or by an appraiser or other expert selected by the Enterprise,
its Board, any committee of the Board or any director, trustee, general partner, manager or managing member. The provisions of this Section
13.4 shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed or found to
have met the applicable standard of conduct set forth in this Agreement.

 

		13.5	The knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary,
agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under
this Agreement.

 

    12

     

    

 

		14	REMEDIES OF INDEMNITEE

 

		14.1	In the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by applicable law and the Articles, is not timely
made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant
to Section 12.1 of this Agreement within thirty (30) days after receipt by the Company of the request for indemnification, (iv) payment
of indemnification is not made pursuant to Sections 5, 6, 7 or the last sentence of Section 12.1 of this Agreement within ten (10) days
after receipt by the Company of a written request therefor, (v) a contribution payment is not made in a timely manner pursuant to Section
8 of this Agreement, (vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not made within ten (10) days after
a determination has been made that Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee pursuant to any hold harmless
or exoneration rights under this Agreement or otherwise is not made within ten (10) days after receipt by the Company of a written request
therefor, Indemnitee shall be entitled to an adjudication by the Delaware Court to such indemnification, hold harmless, exoneration, contribution
or advancement rights. Alternatively, Indemnitee, at Indemnitee’s option, may seek an award in arbitration to be conducted by a
single arbitrator pursuant to the Commercial Arbitration Rules and Mediation Procedures of the American Arbitration Association. Except
as set forth herein, the provisions of Delaware law (without regard to its conflict of laws rules) shall apply to any such arbitration.
The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

 

		14.2	In the event that a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 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 14, Indemnitee shall be presumed to be entitled to be indemnified,
held harmless, exonerated and to receive advances of Expenses under this Agreement and the Company shall have the burden of proving Indemnitee
is not entitled to be indemnified, held harmless, exonerated and to receive advances of Expenses, as the case may be, and the Company
may not refer to or introduce into evidence any determination pursuant to Section 12.1 of this Agreement adverse to Indemnitee for any
purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 14, Indemnitee shall not be required to
reimburse the Company for any advances pursuant to Section 10 until a final determination is made with respect to Indemnitee’s entitlement
to indemnification (as to which all rights of appeal have been exhausted or lapsed).

 

		14.3	If a determination shall have been made pursuant to Section 12.1 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 14, 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.

 

    13

     

    

  

		14.4	The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 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.

 

		14.5	The Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by applicable law and the Articles against
all Expenses and, if requested by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay
to Indemnitee, to the fullest extent permitted by applicable law and the Articles, such Expenses which are incurred by Indemnitee in connection
with any judicial proceeding or arbitration brought by Indemnitee (i) to enforce Indemnitee’s rights under, or to recover damages
for breach of, this Agreement or any other indemnification, hold harmless, exoneration, advancement or contribution agreement or provision
of the Articles now or hereafter in effect; or (ii) for recovery or advances under any insurance policy maintained by any person for the
benefit of Indemnitee, regardless of the outcome and whether Indemnitee ultimately is determined to be entitled to such indemnification,
hold harmless or exoneration right, advancement, contribution or insurance recovery, as the case may be (unless such judicial proceeding
or arbitration was not brought by Indemnitee in good faith).

 

		14.6	Interest shall be paid by the Company to Indemnitee at a rate to be agreed between the Company and Indemnitee for amounts which the
Company indemnifies, holds harmless or exonerates, or is obliged to indemnify, hold harmless or exonerate for the period commencing with
the date on which Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement of
any Expenses and ending with the date on which such payment is made to Indemnitee by the Company.

 

		15	SECURITY

 

Notwithstanding anything herein to the contrary except for
Section 27, 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 Indemnitee.

 

		16	NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION

 

		16.1	The rights of Indemnitee 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 Articles, any agreement, a vote of shareholders or a resolution of directors, 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 Proceeding (regardless of when such Proceeding is first
threatened, commenced or completed) arising out of, or related to, 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 applicable law, whether by statute or judicial
decision, permits greater indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded currently
under the Articles or this Agreement, then this Agreement (without any further action by the parties hereto) shall automatically be deemed
to be amended to require that the Company indemnify Indemnitee to the fullest extent permitted by law. 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.

 

    14

     

    

 

		16.2	The Articles permit the Company to purchase and maintain insurance or furnish similar protection or make other arrangements including,
but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification Arrangements”) on behalf
of Indemnitee against any liability asserted against Indemnitee or incurred by or on behalf of Indemnitee or in such capacity as a director,
officer, employee or agent of the Company, or arising out of Indemnitee’s status as such, whether or not the Company would have
the power to indemnify Indemnitee against such liability under the provisions of this Agreement, as it may then be in effect. The purchase,
establishment, and maintenance of any such Indemnification Arrangement shall not in any way limit or affect the rights and obligations
of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement
by the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the Company or the other party or parties
thereto under any such Indemnification Arrangement.

 

		16.3	To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, trustees,
partners, managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which 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 such director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent
under such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as to which Indemnitee is a
party or a participant (as a witness, deponent or otherwise), the Company has director and officer liability insurance in effect, the
Company shall give prompt notice 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 Indemnitee, all amounts
payable as a result of such Proceeding in accordance with the terms of such policies.

 

		16.4	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.

 

    15

     

    

 

		16.5	The Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving
at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of any
other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration payments
or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary except for Section
27, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification, hold harmless, exoneration,
advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee prior to the Company’s
satisfaction and performance of all its obligations under this Agreement, and (ii) the Company shall perform fully its obligations under
this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any indemnification, advancement, hold harmless,
exoneration, contribution or insurance coverage rights against any person or entity other than the Company.

 

		17	DURATION OF AGREEMENT

 

All agreements and obligations of the Company contained herein
shall continue during the period Indemnitee serves as a director or officer of the Company or as a director, officer, trustee, partner,
manager, managing member, fiduciary, employee or agent of any other company, corporation, partnership, joint venture, trust, employee
benefit plan or other Enterprise which Indemnitee serves at the request of the Company and shall continue thereafter so long as Indemnitee
shall be subject to any possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant
to Section 14 of this Agreement) by reason of Indemnitee’s Corporate Status, whether or not Indemnitee is acting in any such capacity
at the time any liability or expense is incurred for which indemnification or advancement can be provided under this Agreement.

 

		18	SEVERABILITY

 

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, paragraph or sentence 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,
paragraph or sentence 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.

 

    16

     

    

 

		19	ENFORCEMENT AND BINDING EFFECT

 

		19.1	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, officer or key employee of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as a director, officer or key employee of the Company.

 

		19.2	Without limiting any of the rights of Indemnitee under the Articles as they may be amended from time to time, 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.

 

		19.3	The indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company), shall
continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, officer, trustee,
general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise at the Company’s request, and shall
inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and other legal
representatives.

 

		19.4	The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to
all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance
satisfactory to Indemnitee, 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.

 

		19.5	The Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties
hereto agree that Indemnitee may enforce this Agreement by seeking, among other things, injunctive relief and/or specific performance
hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance,
Indemnitee shall not be precluded from seeking or obtaining any other relief to which Indemnitee may be entitled. The Company and Indemnitee
further agree that Indemnitee shall be entitled to such specific performance and injunctive relief, including temporary restraining orders,
preliminary injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith.
The Company acknowledges that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a Court of competent
jurisdiction and the Company hereby waives any such requirement of such a bond or undertaking.

 

    17

     

    

  

		20	MODIFICATION AND WAIVER

 

No supplement, modification or amendment of this Agreement
shall be binding unless executed in writing by the Company and Indemnitee. No waiver of any of the provisions of this Agreement shall
be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

 

		21	NOTICES

 

All notices, requests, demands and other communications under
this Agreement shall be in writing and shall be deemed to have been duly given (i) if delivered by hand and received for by the party
to whom said notice or other communication shall have been directed, on such delivery, or (ii) if mailed by certified or registered mail
with postage prepaid, on the third (3rd) business day after the date on which it is so mailed:

 

		(a)	If to Indemnitee, at the address indicated on the signature page of this Agreement or such other address as Indemnitee shall provide
in writing to the Company.

 

		(b)	If to the Company, to:

Social Capital Hedosophia Holdings Corp. IV

317 University Ave, Suite 200

Palo Alto, CA 94301

Attn: Chief Executive Officer

With copies, which shall not constitute notice, to:

Hedosophia

Yalding House

152 Great Portland Street

London, W1W 6AJ

United Kingdom

Attn: General Counsel

 

and

 

Skadden, Arps, Slate, Meagher & Flom
LLP

300 South Grand Avenue, Suite 3400

Los Angeles, California 90071

Attn: Gregg A. Noel, Esq.

or to any other address as may have been furnished to Indemnitee in writing by the Company.

 

    18

     

    

 

		22	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. Except with respect to any arbitration
commenced by Indemnitee pursuant to Section 14.1 of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally:
(a) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in 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; (b) 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;
(c) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court; and (d) 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, or is subject (in whole or in part) to a jury trial.

 

		23	IDENTICAL COUNTERPARTS

 

This Agreement may be executed in one or more counterparts,
each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.
Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of
this Agreement.

 

		24	MISCELLANEOUS

 

Use of the masculine pronoun shall be deemed to include usage
of the feminine pronoun where appropriate. 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.

 

		25	PERIOD OF LIMITATIONS

 

No legal action shall be brought and no cause of action shall
be asserted by or in the right of the Company against Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal representatives
after the expiration of two (2) years from the date of accrual of such cause of action, and any claim or cause of action of the Company
shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided,
however, that if any shorter period of limitations is otherwise applicable to any such cause of action such shorter period shall
govern.

 

		26	ADDITIONAL ACTS

 

If for the validation of any of the provisions in this Agreement
any act, resolution, approval or other procedure is required, the Company undertakes to cause such act, resolution, approval or other
procedure to be affected or adopted in a manner that will enable the Company to fulfil its obligations under this Agreement.

 

    19

     

    

 

		27	WAIVER OF CLAIMS TO TRUST ACCOUNT

 

Indemnitee hereby agrees that it does not have any right,
title, interest or claim of any kind (each, a “Claim”) in or to any monies in the trust account established in connection
with the Company’s initial public offering for the benefit of the Company and holders of shares issued in such offering, and hereby
waives any Claim it may have in the future as a result of, or arising out of, any services provided to the Company and will not seek recourse
against such trust account for any reason whatsoever.

 

		28	INTERPRETATION

 

In this Agreement:

 

		(a)	“written” and “in writing” include all modes of representing or reproducing words in visible form, including
in the form of an Electronic Record;

 

		(b)	“shall” shall be construed as imperative and “may” shall be construed as permissive;

 

		(c)	references to provisions of any law or regulation shall be construed as references to those provisions as amended, modified, re-enacted
or replaced;

 

		(d)	any phrase introduced by the terms “including”, “include”, “in particular” or any similar expression
shall be construed as illustrative and shall not limit the sense of the words preceding those terms;

 

the term “and/or” is used herein to mean both
 “and” as well as “or. ” The use of “and/or” in certain contexts in no respects qualifies or modifies
the use of the terms “and" or “or" in others. The term "or" shall not be interpreted to be exclusive and
the term “and” shall not be interpreted to require the conjunctive (in each case, unless the context otherwise requires).

 

[Signature
Page Follows]

 

    20

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Indemnity Agreement to be signed as of the day and year first above written.

 

	 	By:	/s/
    Sarah C. Leary
	 	 	Name:
      Sarah C. Leary
	 	 	Address:
    c/o Social Capital Hedosophia
	 	 	 	Holdings
    Corp. IV
	 	 	 	317
    University Ave., Suite 200
	 	 	 	Palo
    Alto, CA 94301

 

	 	SOCIAL
    CAPITAL HEDOSOPHIA HOLDINGS CORP. IV
	 	 
	 	By:	/s/
    Chamath Palihapitiya
	 	 	Name:	Chamath
    Palihapitiya
	 	 	Title:	Authorized
    Signatory

 

[Signature Page to D&O’s Indemnity Agreements]EX-10.1

 Exhibit 10.1 
  

			
		  	English translation – legally non binding
		
	Mynaric AG	  	Mynaric AG
		
	AKTIENOPTIONSPROGRAMM 2019	  	STOCK OPTION PROGRAM 2019
		
	 Optionsbedingungen für Bezugsrechte

aus dem Aktienoptionsprogramm 2019
	  	 Option conditions for subscription

rights from the stock option program

2019

		
	Die Hauptversammlung der Mynaric AG, Gilching/Landkreis München, (nachfolgend auch “Mynaric” oder die “Gesellschaft”) hat am 02. Juli 2019 ein Aktienoptionsprogramm beschlossen, auf dessen
Grundlage Mitgliedern des Vorstandes der Gesellschaft oder Geschäftsführern von mit der Gesellschaft verbundenen Unternehmen (“Gruppe 1”) sowie Arbeitnehmern der Gesellschaft oder von mit der Gesellschaft verbundenen
Unternehmen im In- und Ausland (“Gruppe 2”) (Gruppe 1 und Gruppe 2 gemeinsam auch “Bezugsberechtigte”) in einer oder mehreren Tranchen Bezugsrechte auf neue, auf den Inhaber
oder den Namen lautende Aktien der Gesellschaft (die “Bezugsrechte”) gewährt werden können.	  	On July 2, 2019, the Annual General Meeting of Mynaric AG, Gilching/Germany, (hereinafter also referred to as “Mynaric” or the “Company”) resolved a stock option program on the basis of which
members of the Executive Board of the Company or managing directors of companies affiliated with the Company (“Group 1”) as well as employees of the Company or of companies affiliated with the Company in Germany and abroad
(“Group 2”) (Group 1 and Group 2 together also referred to as “beneficiaries”) can be granted subscription rights to new bearer or registered shares of the Company (the “subscription rights”) in one
or more tranches.
		
	Der Aufsichtsrat und der Vorstand haben beschlossen, von dieser Ermächtigung Gebrauch zu machen. Für die Bezugsrechte des Aktienoptionsprogramms 2019 gelten diese Optionsbedingungen. Sie bilden einen integralen Bestandteil
der Bezugsrechte mit den Bezugsberechtigten.	  	The Supervisory Board and the Management Board have decided to make use of this authorization. These option conditions apply to the subscription rights of stock option program 2019. They form an integral part of the subscription
rights with the beneficiaries.

			
		
	 § 1

Inhalt der Bezugsrechte, Gesamtvolumen und dessen Aufteilung
	  	§ 1
Content of the subscription rights, total volume and its distribution
		
	 1.1  Jedes Bezugsrecht berechtigt den Bezugsberechtigten nach Maßgabe dieser
Optionsbedingungen zum Bezug je einer neuen, auf den Inhaber lautenden Aktie der Mynaric zum Ausübungspreis.
	  	 1.1  Each subscription right entitles the beneficiary to purchase one new bearer share
in Mynaric at the exercise price in accordance with these option conditions.

		
	 1.2  Unter diesem Aktienoptionsprogramm können bis zum 31. Dezember 2022 einmal
oder mehrmals bis zu 270.000 Bezugsrechte ausgegeben werden. Das Gesamtvolumen teilt sich wie folgt auf:
	  	 1.2  Under this stock option program, up to 270,000 subscription rights may be issued
on one or more occasions up to 31 December 2022. The total volume is divided up as follows:

		
	 •  135.000 Bezugsrechte (50 Prozent) an die Gruppe 1

 
 •  135.000 Bezugsrechte (50
Prozent) an die Gruppe 2.
	  	 •  135,000 subscription rights (50 percent) to Group 1

 
 •  135,000 subscription rights
(50 percent) to Group 2.

		
	§ 2
Ausgabezeitraum, Ausübungszeiträume, Wartezeit, Begrenzung, Ausübbarkeit	  	§ 2
Issue period, exercise periods, waiting period, limitation, exercisability
		
	 2.1  Die Begebung der Bezugsrechte erfolgt durch Abschluss einer
Individualvereinbarung zwischen der Gesellschaft und dem jeweiligen Bezugsberechtigten (die “Individualvereinbarung”).
	  	 2.1  The subscription rights are issued by concluding an individual agreement between
the Company and the respective beneficiary (the “Individual Agreement”).

  
 2 / 26 

			
	 2.2  Bezugsrechte können innerhalb des Ermächtigungszeitraums nach einem
einmal oderwiederholt aufzulegenden Programm bis zu vier Mal innerhalb eines Geschäftsjahres begeben werden und zwar jeweils innerhalb der letzten fünf Börsentage eins Quartals (jeweils der „Ausgabezeitraum“). Als
Ausgabetag gilt der Zeitpunkt, zu dem den Bezugsberechtigten das Angebot zur Gewährung von Bezugsrechten zugeht, ungeachtet des Zeitpunkts der Annahme des Angebots. Im Angebot kann ein späterer Zeitpunkt als Ausgabetag bestimmt
werden.
	  	 2.2  Subscription rights may be issued up to four times within the authorization
period following a program to be launched once or repeatedly within a fiscal year, in each case within the last five trading days of a quarter (the “issue period”). The issue date shall be the date on which the beneficiaries receive
the offer to grant subscription rights, irrespective of the date of acceptance of the offer. The offer may specify a later date as the issue date.

		
	 2.3  Die Bezugsrechte können von den Bezugsberechtigten innerhalb von drei Jahren
nachdem Zeitpunkt ausgeübt werden, zu dem die Wartezeit abgelaufen ist. Innerhalb dieses Zeitraums können Bezugsrechte innerhalb von vier Wochen nach Bekanntgabe der Ergebnisse des Jahres- oder Halbjahresabschlusses eines
Geschäftsjahres ausgeübt werden (“Ausübungszeitraum”). Der Ausübungszeitraum kann vom Vorstand der Gesellschaft bzw., soweit Mitglieder des Vorstands der Gesellschaft betroffen sind, vom Aufsichtsrat der
Gesellschaft angemessen verlängert werden, sofern aufgrund gesetzlicher Vorschriften die Ausübung zum Ablauf des ursprünglichen Ausübungszeitraums nicht möglich ist. Die Laufzeit der Bezugsrechte endet nach Ablauf des
jeweiligen (ggf. verlängerten) Ausübungszeitraums. Bezugsrechte, die bis zum Ablauf des jeweiligen Ausübungszeitraums nicht ausgeübt worden sind, verfallen entschädigungslos.
	  	 2.3  The subscription rights may be exercised by the beneficiaries within three years
of the date on which the waiting period expires. Within this period, subscription rights may be exercised within four weeks of the announcement of the results of the annual or semi-annual financial statements for a fiscal year (“exercise
period”). The exercise period may be reasonably extended by the Management Board of the Company or, to the extent that members of the Management Board of the Company are affected, by the Supervisory Board of the Company, if the exercise is
not possible at the end of the original exercise period due to statutory provisions. The term of the subscription rights ends at the end of the respective (possibly extended) exercise period. Subscription rights that have not been exercised by the
end of the respective exercise period expire without compensation.

  
 3 / 26 

			
	 2.4  Bezugsrechte können erstmals nach Ablauf der Wartezeit ausgeübt werden.
Die Wartezeit einer Tranche von Bezugsrechten beginnt jeweils mit dem festgelegten Ausgabetag und endet frühestens mit dem Ablauf des vierten Jahrestags nach dem Ausgabetag (“Wartezeit”).
	  	 2.4  Subscription rights can only be exercised after the end of the waiting period.
The waiting period of a tranche of subscription rights begins in each case on the specified issue date and ends at the earliest at the end of the fourth anniversary after the issue date (“waiting period”).

		
	 2.5  Die Gesellschaft ist berechtigt, die Anzahl der in einem Ausübungszeitraum
maximal insgesamt auszuübenden Bezugsrechte nach billigem Ermessen (§ 315 BGB) zu begrenzen, wenn dies aus sachlichen Gründen (z. B. Sicherung des Aktienkurses der Mynaric, Sicherung der Verwertbarkeit der jungen Aktien) geboten
erscheint. Soweit in diesem Fall die Gesamtzahl der von den Bezugsberechtigten ausgeübten Bezugsrechte die von der Gesellschaft festgesetzte Höchstgrenze übersteigt, gelten die Bezugsrechte in einer Anzahl als ausgeübt, die
– bezogen auf die Höchstgrenze – dem Verhältnis der vom Bezugsrechtsinhaber tatsächlich ausgeübten Bezugsrechte zur Gesamtzahl der in diesem Ausübungszeitraum ausgeübten Bezugsrechte entspricht, d.h. die
Anzahl der ausgeübten Bezugsrechte reduziert sich entsprechend pro rata.
	  	 2.5  The company is entitled to limit the number of subscription rights to be
exercised in an exercise period to a maximum total number at its reasonable discretion (§ 315 BGB), if this appears necessary for objective reasons (e.g. securing Mynaric’s share price, securing the usability of the new shares). Insofar as
in this case the total number of subscription rights exercised by the beneficiaries exceeds the maximum limit set by the company, the subscription rights are deemed to be exercised in a number which - with reference to the maximum limit- corresponds
to the ratio of the subscription rights actually exercised by the holder of the subscription rights to the total number of subscription rights exercised in this exercise period, i.e. the number of subscription rights exercised is reduced accordingly
pro rata.

  
 4 / 26 

			
	 2.6  Bezugsrechte sind nur ausübbar, wenn die Wartezeit abgelaufen ist und wenn
das Erfolgsziel erreicht wurde. Die Bedienung der Bezugsrechte erfolgt in Aktien der Gesellschaft, wobei je ein Bezugsrecht zum Bezug von je einer Aktie berechtigt.
	  	 2.6  Subscription rights may only be exercised if the waiting period has expired and
if the performance target has been achieved. The subscription rights are serviced in shares of the Company, whereby one subscription right entitles the holder to subscribe for one share each.

		
	§ 3
Ausübungspreis	  	§ 3
Exercise price
		
	 3.1  Bei Ausübung eines Bezugsrechts ist für jede zu beziehende Aktie der
Ausübungspreis zu zahlen. Der „Ausübungspreis“ je Aktie entspricht dem volumengewichteten 6-Monats-Durchschnittskurs der Aktie der Gesellschaft oder dem in Beträge je Aktie
umzurechnenden volumengewichteten 6-Monats-Durchschnittskurs des die Aktie vertretenden Rechts oder Zertifikats im Handelssystem mit dem höchsten gesamten Handelsumsatz an Aktien der Gesellschaft oder an
solche vertretenden Rechten oder Zertifikaten an den zehn dem Tag vor dem Ausgabezeitraum vorangehenden Tagen, an denen dieses Handelssystem für den allgemeinen Börsenhandel geöffnet gewesen ist. Für Zeiträume, in denen das
Handelssystem mit dem höchsten gesamten Handelsumsatz an Aktien der
	  	 3.1  When a subscription right is exercised, the exercise price is payable for each
share to be subscribed. The “exercise price” per share corresponds to the volume-weighted 6-months average price of the share or the volume-weighted
6-months average price, to be converted into amounts per share, of the right or certificate representing the share in the trading system with the highest total trading volume in shares of the Company or in
rights or certificates representing such shares on the ten days preceding the day before the issue period on which this trading system has been open for general stock exchange trading. For periods in which the trading system with the highest total
trading volume in shares of the Company or in rights or certificates representing such shares on the ten days preceding the day before the issue period on which this trading system

  
 5 / 26 

			
	 Gesellschaft oder an solche vertretenden Rechten oder Zertifikaten an den zehn dem Tag vor dem Ausgabezeitraum
vorangehenden Tagen, an denen dieses Handelssystem für den allgemeinen Börsenhandel geöffnet gewesen ist, die Frankfurter Wertpapierbörse ist, entspricht der Ausübungspreis je Aktie dem volumengewichteten 6-Monats-Durchschnittskurs der Aktie im Xetra-Handel (oder einem vergleichbaren Nachfolgesystem) an der Frankfurter Wertpapierbörse am Tag vor dem Ausgabezeitraum. Der Mindestausübungspreis entspricht
mindestens dem geringsten Ausgabebetrag im Sinne von § 9 Abs. 1 AktG.
	  	 has been open for general stock exchange trading is the Frankfurt Stock Exchange, the exercise price per share shall
correspond to the volume-weighted 6-months average price of the share in Xetra trading (or a comparable successor system) on the Frankfurt Stock Exchange on the day before the issue period. The minimum
exercise price shall be at least equal to the lowest issue price within the meaning of Section 9 (1) AktG.

		
	 3.2  Der Ausübungspreis ist mit Ausübung des Bezugsrechts zahlbar.
	  	 3.2  The exercise price is payable when the subscription right is
exercised.

		
	§ 4
Erfolgsziel	  	§ 4
Performance target
		
	 4.1  Bezugsrechte können nur ausgeübt werden, wenn und soweit das
Erfolgsziel wie nachfolgend beschrieben erreicht wurde:
	  	 4.1  Subscription rights may only be exercised if and to the extent that the
performance target has been achieved as described below:

		
	 Das Erfolgsziel ist an die absolute Kursentwicklung der Aktie der Gesellschaft während der Wartezeit gekoppelt.
Die Bezugsrechte können ausgeübt werden, wenn der volumengewichtete 6-Monats-Durchschnittskurs der Aktie der Gesellschaft oder der in Beträge je Aktie umzurechnende
	  	 The performance targets are linked to the absolute performance of the Company’s share price during the waiting
period. The subscription rights may be exercised if the 6-months volume-weighted average price of the Company’s share or the 6-months volume-weighted average price,
to be converted into

  
 6 / 26 

			
	 volumengewichtete 6-Monats-Durchschnittskurs des die Aktie vertretenden Rechts
oder Zertifikats in dem Handelssystem mit dem höchsten gesamten Handelsumsatz an Aktien der Gesellschaft oder an solche vertretenden Rechten oder Zertifikaten an den zehn letzten Tagen vor dem Tag des Ablaufs der Wartezeit, an denen dieses
Handelssystem für den allgemeinen Börsenhandel geöffnet gewesen ist, bei Ablauf der Wartezeit mindestens 20 % über dem Ausübungspreis liegt. Für Zeiträume, in denen das Handelssystem mit dem höchsten
gesamten Handelsumsatz an Aktien der Gesellschaft oder an solche vertretenden Rechten oder Zertifikaten an den zehn letzten Tagen vor dem Tag des Ablaufs der Wartezeit, an denen dieses Handelssystem für den allgemeinen Börsenhandel
geöffnet gewesen ist, die Frankfurter Wertpapierbörse ist, können die Aktienoptionen ausgeübt werden, wenn der volumengewichtete 6-Monats-Durchschnittskurs der Aktie der Gesellschaft im
Xetra-Handel (oder einem vergleichbaren Nachfolgesystem) an der Frankfurter Wertpapierbörse bei Ablauf der Wartezeit mindestens 20 % über dem Ausübungspreis liegt.
	  	 amounts per share, of the right or certificate representing the share in the trading system with the highest total
trading volume in shares of the Company or in rights or certificates representing such shares on the ten last days prior to the expiry date of the waiting period on which this trading system has been open for general stock exchange trading is at
least 20% above the exercise price at the end of the waiting period. For periods in which the trading system with the highest total trading volume in shares of the Company or in rights or certificates representing such shares on the ten last days
prior to the expiry date of the waiting period on which this trading system has been open for general stock exchange trading is the Frankfurt Stock Exchange, the stock options may be exercised if the volume-weighted
6-months average price of the Company’s shares in Xetra trading (or a comparable successor system) on the Frankfurt Stock Exchange at the expiry of the waiting period is at least 20% above the exercise
price.

		
	 4.2  Bei einer Änderung der Börsenusancen sind die Bestimmungen dieser
Optionsbedingungen so auszulegen, dass sie dem ursprünglich Gewollten möglichst nahe kommen. Bei einer Ablösung des Xetra-Handelssystems durch ein Nachfolgesystem ist auf dieses Nachfolgesystem abzustellen.
	  	 4.2  In the event of a change in stock exchange practices, the provisions of these
option terms and conditions must be interpreted in such a way that they come as close as possible to the original intention. If the Xetra trading system is replaced by a successor system, this successor system shall be used.

  
 7 / 26 

			
	§ 5
Ausübung der Bezugsrechte	  	§ 5
Exercise of subscription rights
		
	 5.1  Die Ausübung der Bezugsrechte erfolgt durch schriftliche, eigenhändig
unterschriebene Erklärung gegenüber der Gesellschaft („Bezugserklärung“), die dieser innerhalb eines Ausübungszeitraums in doppelter Ausfertigung zugehen muss. Für die Bezugserklärung ist der bei der
Gesellschaft erhältliche Vordruck zu verwenden.
	  	 5.1  The subscription rights shall be exercised by means of a written,
personallysigned declaration to the Company (“subscription declaration”), which the Company must receive in duplicate within an exercise period. The form available from the Company must be used for the subscription
declaration.

		
	 5.2  Über die Angaben nach § 198 AktG hinaus hat die Bezugserklärung
die Anzahl der Bezugsrechte, welche der Bezugsrechtsinhaber ausüben möchte, sowie die Angabe eines Wertpapierdepots des Bezugsrechtsinhabers zur Einbuchung der Aktien der Mynaric zu enthalten. Die Anzahl der ausgeübten Bezugsrechte
muss durch 50 teilbar sein, es sei denn, ein Bezugsrechtsinhaber übt alle ihm zustehenden Bezugsrechte aus. Soweit sich die Anzahl der ausübbaren Bezugsrechte wegen einer Überschreitung der für einen Ausübungszeitraum
festgelegten Höchstgrenze (§ 2.5 der Optionsbedingungen) reduziert, wird Mynaric den Bezugsberechtigten hierauf
	  	 5.2  In addition the information pursuant to § 198 AktG, the subscription
declaration must contain the number of subscription rights which the holder of subscription rights wishes to exercise, as well as information on a securities account of the holder of subscription rights for the registration of the shares of Mynaric.
The number of subscription rights exercised must be divisible by 50, unless a holder of subscription rights exercises all subscription rights to which he is entitled. If the number of exercisable subscription rights is reduced due to the fact that
the maximum number of subscription rights determined for an exercise period (§ 2.5 of the option conditions) has been exceeded, Mynaric will notify the beneficiary of this and

  
 8 / 26 

			
	 hinweisen und ihm die Höchstzahl der von ihm in diesem Ausübungszeitraum ausübbaren Bezugsrechte
mitteilen. In diesem Fall hat der Bezugsberechtigte unverzüglich eine neue Bezugserklärung im Sinne dieser Vorschrift auszufertigen. Diese neue Bezugserklärung darf sich höchstens auf die dem Bezugsberechtigten mitgeteilten
Höchstanzahl der von ihm ausübbaren Bezugsrechte beziehen.
	  	 inform him/her of the maximum number of subscription rights that can be exercised in this exercise period. In this
case, the beneficiary shall immediately issue a new subscription declaration in the sense of this provision. This new subscription declaration may relate to no more than the maximum number of subscription rights that the beneficiary has been
notified of and which he/she may exercise.

		
	 5.3  Die Abgabe der Bezugserklärung kann nur innerhalb des jeweiligen
Ausübungszeitraums erfolgen, im Falle einer mitgeteilten Überschreitung der Höchstgrenze innerhalb von einer Woche seit Zugang der Mitteilung der Mynaric. Sie muss zu ihrer Wirksamkeit der Mynaric spätestens am letzten Tag des
Ausübungszeitraums zugegangen sein. Eine mittels Telefax fristgerecht übermittelte Bezugserklärung gilt als rechtzeitig zugegangen, wenn das Original spätestens am dritten auf den Zugang des Telefaxes folgenden
Börsenhandelstag zugeht. Eine Erklärung per E-Mail ist zulässig, wenn sie das Original der unterzeichneten Bezugserklärung als Dateianhang (z. B. im
pdf- oder tif- Format) enthält und das Original spätestens am dritten auf den Zugang des E-Mails folgenden
Börsenhandelstag zugeht.
	  	 5.3  The declaration of subscription can only be made within the respectiveexercise
period, in the case of a notified exceeding of the maximum limit within one week after receipt of the notification from Mynaric. In order to be effective, it must be received by Mynaric at the latest on the last day of the exercise period. A
subscription declaration sent by fax in due time is considered to have been received in time if the original is received by Mynaric at the latest on the third stock exchange trading day following receipt of the fax. A declaration by e-mail is permissible if it contains the original of the signed subscription declaration as a file attachment (e.g. in pdf or tif format) and the original is received no later than on the third stock exchange
trading day following receipt of the e-mail.

  
 9 / 26 

			
		
	 5.4  Mit Ausübung der Bezugsrechte ist der Ausübungspreis an die Mynaric zu
zahlen. Nach Eingang der Zahlung des Ausübungspreises auf das in der Bezugserklärung angegebene Konto wird Mynaric dem Bezugsrechtsinhaber unverzüglich die den ausgeübten Bezugsrechten entsprechende Anzahl an Aktien gutschreiben.
Mynaric ist berechtigt, mit Bezugsrechtsinhabern hinsichtlich einzelner Ausübungszeiträume eine hiervon abweichende Regelung zu treffen, insbesondere eine spätere Fälligkeit des Ausübungspreises vorzusehen und die Aktien zu
einem späteren Zeitpunkt dem Bezugsrechtsinhaber gutzuschreiben, wenn dies aus sachlichen Gründen geboten ist, insbesondere, um eine zu den bestehenden Aktien unterschiedliche Gewinnberechtigung der gelieferten Aktien zu vermeiden. In
diesem Fall wird Mynaric eine entsprechend spätere Fälligkeit des Ausübungspreises festlegen. Die Bezugserklärung kann bestimmen, dass Bezugsrechte verfallen, soweit Zahlungen nicht binnen einer angemessenen Frist nach Ablauf des
Ausübungszeitraumes, in dem die Bezugsrechte ausgeübt wurden, erfolgt sind. Eine Frist von zwei Wochen gilt als angemessen. Die Bezugserklärung oder die Ausübungserklärung können für die Zahlung des
Ausübungspreises eine Lastschriftvereinbarung sowie einen Abbuchungsauftrag für Lastschriften enthalten.
	  	 5.4  Upon exercise of the subscription rights, the exercise price is payable to
Mynaric. After receipt of the payment of the exercise price to the account stated in the subscription declaration Mynaric will immediately credit the holder of the subscription rights with the number of shares corresponding to the exercised
subscription rights. Mynaric is entitled to make a deviating arrangement with holders of subscription rights regarding individual exercise periods, in particular to provide for a later maturity of the exercise price and to credit the shares to the
holder of subscription rights at a later date if this is necessary for objective reasons, in particular to avoid a different entitlement to profits of the delivered shares compared to the existing shares. In this case Mynaric will determine a
correspondingly later maturity of the exercise price. The subscription declaration may stipulate that subscription rights lapse if payments are not made within a reasonable period of time after the end of the exercise period in which the
subscription rights were exercised. A period of two weeks shall be deemed reasonable. The subscription declaration or the exercise declaration may contain a direct debit agreement for the payment of the exercise price as well as a debit order for
direct debits.

  
 10 / 26 

			
		
	 5.5  Mynaric erfüllt ihre Verpflichtung zur Übereignung von Aktien mit neuen
Aktien unter Inanspruchnahme des Bedingten Kapitals 2019. Ihr steht, soweit gesetzlich zulässig, die Befugnis zu, anstatt neuer Aktien ganz oder teilweise eigene Aktien zu liefern. Der Bezugsrechtsinhaber ist verpflichtet, die von der Mynaric
angebotenen Aktien in Erfüllung seiner Bezugsrechte anzunehmen. Ferner ist die Gesellschaft berechtigt, ganz oder teilweise an Stelle der Lieferung von (neuen oder eigenen) Aktien den Wert der bei Ausübung von Bezugsrechten zu liefernden
Aktien abzüglich des Ausübungspreises in bar auszuzahlen. Die Entscheidung, welche Alternative von der Gesellschaft im Einzelfall gewählt wird, trifft der Vorstand der Gesellschaft bzw., soweit Mitlieder des Vorstands der Gesellschaft
betroffen sind, der Aufsichtsrat der Gesellschaft.
	  	 5.5  Mynaric fulfills ist obligation to transfer shares with new shares using the
Conditional Capital 2019, and, to extend permitted by law, ist entitled to deliver own shares instead of new shares in whole or in part. The holder of subscription rights is obliged to accept the shares offered by Mynaric in fulfilment of his
subscription rights. Furthermore, the company is entitled to pay out in cash, in whole or in part, instead of the delivery of (new or own) shares, the value of the shares to be delivered upon exercise of subscription rights minus the exercise price.
The decision as to which alternative is chosen by the Company in each individual case shall be made by the Management Board of the Company or, insofar as members of the Management Board of the Company are affected, by the Supervisory Board of the
Company.

		
	 5.6  Die neuen, auf den Inhaber oder den Namen lautenden Stückaktien nehmen vom
Beginn des Geschäftsjahres an, für das zum Zeitpunkt der Ausübung des Bezugsrechts noch kein Beschluss der Hauptversammlung über die Verwendung des Bilanzgewinns gefasst worden ist, am Gewinn teil.
	  	 5.6  The new bearer or registered no-par-value shares participate in the profit from the beginning of the financial year for which, at the time of exercising the subscription right, no resolution by the Annual General Meeting on the
appropriation of the balance sheet profit has yet been adopted.

  
 11 / 26 

			
		
	§ 6
Beendigung des Dienst- oder Arbeitsverhältnisses, Ausscheiden von Betrieben	  	§ 6
Termination of service or employment, Withdrawal of undertakings
		
	 6.1  Vorbehaltlich nachfolgender Bestimmungen und § 7.2 dürfen Bezugsrechte
nur vom Bezugsrechtsinhaber und nur dann ausgeübt werden, wenn der Bezugsrechtsinhaber zum Zeitpunkt der Ausübung in einem ungekündigten Dienst- oder Arbeitsverhältnis zu einem beteiligten Unternehmen steht oder das Dienst- oder
Arbeitsverhältnis zu einem nach der Gewährung der Bezugsrechte liegenden Zeitpunkt aufgrund Ablaufs einer vorgesehenen Befristung, Eintritts in den Ruhestand oder einvernehmlich endet.
	  	 6.1  Subject to the following provisions and § 7.2, subscription rights may only
be exercised by the holder of the subscription rights and only if the holder of the subscription rights is in an ongoing service or employment relationship with one of the companies involved at the time of exercise or if the service or employment
relationship ends at a point in time after the granting of the subscription rights due to the expiry of a specified time limit, retirement or amicable termination.

		
	 6.1.1. Endet das Dienst- oder Arbeitsverhältnis des Bezugsberechtigten nach Ablauf der
Wartezeit, aber vor Ausübung der Bezugsrechte und erfolgt diese Beendigung aus anderen Gründen als dem Ablauf einer vorgesehenen Befristung, dem Eintritt in den Ruhestand oder einer einvernehmlichen Beendigung, so verfallen die
Bezugsrechte mit Ablauf des nächstfolgenden Ausübungszeitraumes ersatzlos, und zwar unabhängig davon, ob zu diesem Zeitpunkt die Voraussetzungen für die Ausübung vorlagen. Im Falle einer außerordentlichen
Kündigung des Dienst- oder Arbeitsverhältnisses durch Mynaric bzw. das jeweilige Anstellungsunternehmen aus einem in der Person oder im Verhalten des Bezugsrechtsinhabers liegenden Grund verfallen die Bezugsrechte zum Zeitpunkt der
Beendigung des Dienst- oder Arbeitsverhältnisses ersatzlos.
	  	 6.1.1. If the service or employment relationship of the beneficiary ends after expiry of the
waiting period but before the subscription rights are exercised and if this termination is for reasons other than the expiry of a specified time limit, retirement or termination by mutual consent, the subscription rights shall lapse without
replacement at the end of the next exercise period, irrespective of whether the conditions for exercise were met at that time. In the event of an extraordinary termination of the service or employment relationship by Mynaric or the respective
employing company for a reason in the person or behaviour of the holder of the subscription rights, the subscription rights expire without replacement at the time of the termination of the service or employment relationship.

  
 12 / 26 

			
		
	 6.1.2. Endet das Dienst- oder Arbeitsverhältnis des Bezugsberechtigten vor Ablauf der
Wartezeit und erfolgt diese Beendigung aus anderen Gründen als dem Ablauf einer vorgesehenen Befristung, dem Eintritt in den Ruhestand oder einer einvernehmlichen Beendigung, so verfallen die Bezugsrechte im Zeitpunkt des Wegfalls einer oder
mehrerer der dort genannten Voraussetzungen, d. h. sie verfallen bereits mit Ausspruch der Kündigung.
	  	 6.1.2. If the service or employment relationship of the beneficiary ends before the end of
the waiting period and if this termination occurs for reasons other than the expiry of a specified time limit, retirement or termination by mutual consent, the subscription rights shall lapse at the time when one or more of the conditions specified
therein cease to apply, i.e. they shall lapse upon notice of termination.

		
	 6.1.3. Das Recht zur Kündigung des Dienst- oder Arbeitsverhältnisses durch die
Gesellschaft bleibt von den vorstehenden Vorschriften unberührt.
	  	 6.1.3.The right to terminate the service or employment relationship by the Company remains
unaffected by the above provisions.

		
	 6.2  Scheidet ein Betrieb oder ein Betriebsteil, mit dem der Bezugsrechtsinhaber in
einem Dienst- oder Arbeitsverhältnis steht oder dem er zuzuordnen ist, aus dem Kreis der gemäß Beschluss der Hauptversammlung in das Aktienoptionsprogramm einbezogenen Unternehmen des
Mynaric-Konzerns aus, so verfallen die Bezugsrechte mit Ablauf des nächstfolgenden Ausübungszeitraumes.
	  	 6.2  If a company or part of a company with which the holder of the subscription
rights has a service or employment relationship or to which he is assigned leaves the group of companies of the Mynaric Group included in the stock option program in accordance with the resolution of the Annual General Meeting, the subscription
rights expire at the end of the next exercise period.

  
 13 / 26 

			
		
	 6.3  Ausnahmen von den Regelungen in § 6.1 und § 6.2 können zugunsten
der Bezugsrechtsinhaber im Einzelfall oder generell von Mynaric durch schriftliche Erklärung bestimmt werden. Wird eine solche Bestimmung getroffen, so kann Mynaric auch bestimmen, dass die Ausübung der Bezugsrechte zu den Bedingungen des
letzten abgelaufenen Ausübungszeitraumes erfolgen kann.
	  	 6.3  Exceptions to the regulations in § 6.1 and § 6.2 can be determined in
favour of the holders of subscription rights in individual cases or generally by Mynaric by written declaration. If such a determination is made, Mynaric can also determine that the exercise of subscription rights can take place under the conditions
of the last expired exercise period.

		
	§ 7
Keine Übertragbarkeit der Bezugsrechte/Vererblichkeit	  	§ 7
No transferability of subscription rights/heritage
		
	 7.1  Bezugsrechte sind rechtsgeschäftlich nicht übertragbar.
	  	 7.1  Subscription rights are not transferable by legal transaction.

		
	 7.2  Bezugsrechte sind jedoch vererblich. Ebenfalls ist eine Übertragung zur
Erfüllung von Vermächtnissen zulässig. Die Bezugsrechte können nur durch den jeweiligen Bezugsberechtigten selbst oder seine Erben oder Vermächtnisnehmer ausgeübt werden. Können Bezugsrechte nach Maßgabe der
vorstehenden Regelung nicht mehr ausgeübt werden, so verfallen sie ersatz- und entschädigungslos. Die Bestimmung über die Ermächtigung zur erneuten Ausgabe von verfallenen Bezugsrechten an Bezugsberechtigte bleibt davon
unberührt. Mynaric ist berechtigt, einen ausreichenden Nachweis für den Erbfall und die Rechtsnachfolge zu verlangen.
	  	 7.2  However, subscription rights are hereditary. A transfer for the purpose of
fulfilling bequests is also permissible. The subscription rights may only be exercised by the respective beneficiary himself or by his heirs or legatees. If subscription rights can no longer be exercised in accordance with the above provision, they
shall expire without replacement or compensation. The provision on the authorization to reissue expired subscription rights to beneficiaries remains unaffected. Mynaric is entitled to demand sufficient proof of inheritance and legal
succession.

  
 14 / 26 

			
		
	§ 8
Steuern und sonstige Aufwendungen	  	§ 8
Taxes and other expenses
		
	 8.1  Etwaige Steuern oder sonstige Aufwendungen, die im Zusammenhang mit der
Ausübung von Bezugsrechten, der Lieferung von Aktien oder Zahlungen beim Bezugsberechtigten anfallen, sind vom Bezugsberechtigten zu tragen.
	  	 8.1  Any taxes or other expenses incurred by the beneficiary in connection with the
exercise of subscription rights, the delivery of shares or payments shall be borne by the beneficiary.

		
	 8.2  Auf den geldwerten Vorteil der Bezugsberechtigten werden nach Ausübung der
Bezugsrechte nach Maßgabe des im maßgeblichen Zeitpunkt geltenden Rechts Lohnsteuer sowie andere Steuern und Abgaben, einschließlich Sozialabgaben, einbehalten.
	  	 8.2  After exercising the subscription rights, wage tax and other taxes and duties,
including social security contributions, will be withheld from the monetary advantage of the beneficiaries in accordance with the law applicable at the relevant time.

		
	§ 9
Anpassungen aufgrund von Änderungen des Grundkapitals oder Strukturmaßnahmen; Anspruch auf Barausgleich in bestimmten Fällen	  	§ 9
Adjustments due to changes in the share capital or Structural measures; entitlement to cash compensation in certain cases
		
	Führt die Mynaric innerhalb der Laufzeit der Bezugsrechte Kapital- oder Strukturmaßnahmen durch oder erwerben Dritte eine wesentliche Beteiligung an der Mynaric, gelten die nachfolgenden Regelungen:	  	If Mynaric carries out capital or structural measures within the term of the subscription rights or if third parties acquire a significant share in Mynaric, the following regulations apply:
		
	 9.1  Im Falle einer Kapitalerhöhung aus Gesellschaftsmitteln durch Ausgabe neuer
Aktien wird – anstelle einer Ermäßigung des Ausübungspreises – das Bedingte Kapital gemäß § 218 AktG im gleichen Verhältnis wie das Grundkapital erhöht. Im gleichen Verhältnis erhöht sich
die Anzahl der Aktien, die je Bezugsrecht bezogen werden können.
	  	 9.1  In the event of a capital increase from company funds by issuing new shares,
instead of a reduction of the exercise price, the conditional capital is increased in the same ratio as the share capital in accordance with Section 218 AktG. The number of shares that can be subscribed per subscription right is increased in
the same ratio.

  
 15 / 26 

			
		
	 9.2  Im Fall einer Kapitalerhöhung gegen Einlagen oder einer Begebung von
Wertpapieren mit Wandlungs- oder Optionsrechten ermäßigt sich der Ausübungspreis je Aktie um den Betrag, der sich aus dem arithmetischen Mittel der Bezugsrechtskurse der den Aktionären auf Grund der Kapitalerhöhung
zustehenden Bezugsrechte, bezogen auf eine Aktie, an allen Tagen ihres Handels im Xetra-Handel an der Frankfurter Wertpapierbörse errechnet. Eine Ermäßigung des Ausübungspreises tritt nicht ein, wenn den Bezugsberechtigten auf
Grund der Kapitalerhöhung ein mittelbares oder unmittelbares Bezugsrecht eingeräumt wird, das sie so stellt, als hätten sie ihre Bezugsrechte aus dem Aktienoptionsprogramm bereits ausgeübt. Findet kein Bezugsrechtshandel statt,
gilt § 216 Abs. 3 AktG entsprechend, § 9 Abs. 1 AktG bleibt unberührt.
	  	 9.2  In the event of a capital increase against contributions or an issue of
securities with conversion or option rights, the exercise price per share is reduced by the amount calculated as the arithmetic mean of the subscription right prices of the subscription rights to which the shareholders are entitled on the basis of
the capital increase, based on one share, on all days of trading in Xetra on the Frankfurt Stock Exchange. The exercise price is not reduced if the beneficiaries are granted a direct or indirect subscription right as a result of the capital
increase, which places them in the same position as if they had already exercised their subscription rights from the stock option program. If no subscription rights are traded, Section 216 (3) AktG applies accordingly, Section 9 (1) AktG
remains unaffected

		
	 9.3  Im Falle einer Kapitalherabsetzung bleibt der Ausübungspreis
unverändert, wenn durch die Kapitalherabsetzung die Anzahl der Aktien unverändert bleibt oder die Kapitalherabsetzung mit einer Kapitalrückzahlung oder einem entgeltlichen Erwerb eigener Aktien verbunden ist. Im Falle einer
Kapitalherabsetzung durch Zusammenlegung von Aktien ohne
	  	 9.3  In the event of a capital reduction, the exercise price remains unchanged if the
number of shares remains unchanged as a result of the capital reduction or if the capital reduction is linked to a capital repayment or an acquisition of own shares

  
 16 / 26 

			
	 Kapitalrückzahlung oder entgeltlichem Erwerb eigener Aktien und im Falle einer Erhöhung der Aktien ohne
Kapitalveränderung (Aktiensplitt) wird das Bezugsrecht so angepasst, dass die Anzahl der für ein Bezugsrecht zu gewährenden Aktien im Verhältnis der Kapitalherabsetzung oder des Aktiensplitts entsprechend verringert oder
erhöht werden. Der Ausübungspreis bleibt hiervon unberührt.
	  	 against payment. In the event of a capital reduction by combining shares without capital repayment or acquisition of
own shares against payment and in the event of an increase in shares without capital change (share split), the subscription right is adjusted so that the number of shares to be granted for a subscription right is reduced or increased accordingly in
proportion to the capital reduction or share split. The exercise price remains unaffected.

		
	 9.4  Im Falle eines Change of Control (Erwerb von mehr als 50 % der Aktien der
Gesellschaft durch einen neuen Aktionär) gilt folgendes:
	  	 9.4  In the event of a change of control (acquisition of more than 50% of the shares
of the Company by a new shareholder), the following applies:

		
	 9.4.1. Soweit zum Zeitpunkt des Wirksamwerden des Change of Controls die Wartezeit (§
2.4) abgelaufen ist, können Optionsrechte innerhalb des nächsten Ausübungszeitraums ausgeübt werden. Liegen die Ausübungsvoraussetzungen nicht vor, können der Bezugsberechtigte und Mynaric nach Maßgabe des §
9.5.2 den Rücktritt erklären, in diesem Fall ist ein Wertausgleich gemäß § 9.5.2 zu zahlen.
	  	 9.4.1. If the waiting period (§ 2.4) has expired at the time the change of control
takes effect, option rights can be exercised within the next exercise period. If the exercise conditions are not met, the beneficiary and Mynaric can declare their resignation in accordance with § 9.5.2, in which case a value adjustment must be
paid in accordance with § 9.5.2.

		
	 9.4.2. Ist die Wartezeit (§ 2.4) zum Zeitpunkt des Wirksamwerden des Change of Control
noch nicht abgelaufen, steht dem Bezugsberechtigten das Recht zu, auf die ihm durch die gewährten Bezugsrechte eingeräumten Bezugsrechte durch einseitige Erklärung gegenüber der Mynaric
	  	 9.4.2. If the waiting period (§ 2.4) has not yet expired at the
time the Change of Control takes effect, the beneficiary is entitled to waive the subscription rights granted to him/her by the granted subscription rights by means of a unilateral declaration to Mynaric (withdrawal). Such declaration of
withdrawal

  
 17 / 26 

			
	 zu verzichten (Rücktritt). Eine solche Rücktrittserklärung muss der Gesellschaft innerhalb einer Frist
von zwei Wochen seit der Veröffentlichung des Change of Control zugehen. Sie bedarf der Schriftform, wobei eine Übersendung per Telefax innerhalb der Frist ausreicht, wenn das Original der Erklärung innerhalb einer Woche seit Zugang
des Telefaxes folgt. Eine Erklärung per E-Mail ist ebenfalls fristwahrend zulässig, wenn sie das Original der unterzeichneten Bezugserklärung als Dateianhang (z. B. im pdf- oder tif-Format) enthält und das Original der Erklärung innerhalb einer Woche seit Zugang des E-Mails folgt.
	  	 must be received by the company within a period of two weeks after the publication of the Change of Control. It must be
in writing, whereby transmission by fax within the deadline is sufficient if the original of the declaration follows within one week of receipt of the fax. A declaration by e-mail is also permissible within
the deadline if it contains the original of the signed reference declaration as a file attachment (e.g. in pdf or tif format) and the original follows the declaration within one week of receipt of the
e-mail.

		
	 Tritt ein Bezugsrechtsinhaber nach Maßgabe dieser Bestimmung zurück, steht ihm ein Anspruch auf Zahlung
eines vollen Wertausgleichs für jedes Bezugsrecht gegen die Mynaric zu. Dieser Anspruch berechnet sich wie folgt: Maßgeblich ist der bezahlte Kaufpreis für eine Stückaktie der Gesellschaft, abzüglich des vom
Bezugsberechtigten zu zahlenden Ausübungspreises. Soweit der Käufer den Kaufpreis zu einem späteren Zeitpunkt erhöht, erhöht sich der Wertausgleich entsprechend.
	  	 If a subscription right holder withdraws in accordance with this provision, he is entitled to payment of a full value
compensation for each subscription right against Mynaric. This claim is calculated as follows: The purchase price paid for a no-par value share in the company is decisive, less the exercise price to be paid by
the beneficiary. If the purchaser increases the purchase price at a later date, the value of the shares will be increased accordingly.

		
	 Es wird klargestellt, dass der Anspruch auf Zahlung des Wertausgleichs unabhängig von der Erfüllung der
Erfolgsziele (§ 4) entstehen kann.
	  	 It is clarified that the claim to payment of the value adjustment can arise independently of the fulfilment of the
performance targets (§ 4).

  
 18 / 26 

			
		
	 9.5  Die Bestimmungen des vorstehenden § 9.5.2 gelten auch in folgenden
Fällen:
	  	 9.5  The provisions of § 9.5.2 above shall also apply in the following
cases:

		
	 9.5.1. Beschlussfassung der Hauptversammlung der Mynaric in folgenden Fällen:
	  	 9.5.1. Resolutions of the Mynaric general meeting in the following cases:

		
	 •  Zustimmung zur Verschmelzung der Mynaric auf eine andere
Gesellschaft;
	  	 •  Approval of the merger of Mynaric into another company;

		
	 •  Zustimmung zur Übertragung des Vermögens der Mynaric auf eine andere
Gesellschaft;
	  	 •  Approval of the transfer of Mynaric’s assets to
anothercompany;

		
	 •  Zustimmung zum Formwechsel der Mynaric in eine Gesellschaftsform, deren
Anteile nicht an der Börse handelbar sind;
	  	 •  Approval of the change of Mynaric’s legal form to a company whose
sharesare not tradable on the stock exchange;

		
	 •  Zustimmung zum Abschluss eines Unternehmensvertrages, insbesondere eines
Gewinnabführungs- und/oder Beherrschungsvertrages durch die Mynaric als Untergesellschaft;
	  	 •  Approval of the conclusion of an inter-company agreement, in particular
aprofit transfer and/or control agreement by Mynaric as a sub-company;

		
	 •  Beschlussfassung über die Eingliederung der Mynaric in eine andere
Gesellschaft gemäß §§ 319 ff. AktG
	  	 •  Resolution on the integration of Mynaric into another company in
accordancewith §§ 319 ff. AktG

		
	 Die 2-Wochen-Frist beginnt in diesem Fall an dem Tag der Beschlussfassung der
Hauptversammlung. Eine spätere Aufhebung des Beschlusses ist ohne Einfluss auf ein bereits ausgeübtes Rücktrittsrecht.
	  	 In this case, the two-week period begins on the day of the resolution of the
Annual General Meeting. A later cancellation of the resolution is without influence on a right of withdrawal already exercised.

  
 19 / 26 

			
		
	 9.5.2. Einstellung des Börsenhandels der Aktien der Mynaric (Delisting), wobei eine
Einstellung des Börsenhandels der Aktien der Mynaric im Sinne dieser Vorschrift nicht vorliegt, sofern die Aktien der Mynaric oder solche vertretenden Rechte oder Zertifikate noch an einer anderen in-
oder ausländischen Börse gehandelt werden. Es wird ferner klargestellt, dass ein Wechsel des Marktsegments kein Rücktrittsrecht im Sinne dieser Vorschrift begründet.
	  	 9.5.2. Discontinuation of stock exchange trading of the shares of Mynaric (delisting),
whereby a discontinuation of trading is not constituted if the shares of Mynaric or rights or certificates representing such shares are still traded on any other domestic or foreign stock exchange. It is further clarified that a change of market
segment does not constitute a right of withdrawal in the sense of this provision

		
	 9.6  Im Falle eines Ausschlusses von Minderheitsaktionären der Mynaric durch
einen Hauptaktionär (Squeeze-Out, §§ 327a ff. AktG) gilt folgendes:
	  	 9.6  In the event of an exclusion of minority shareholders of Mynaric by a major
shareholder (squeeze-out, §§ 327a et seq. AktG) the following applies:

		
	 9.6.1. Soweit zum Zeitpunkt der Eintragung des Übertragungsbeschlusses durch die
Hauptversammlung in das Handelsregister der Mynaric die Wartezeit (§ 2.4) abgelaufen ist, gelten die Bezugsrechte mit der Eintragung des Übertragungsbeschlusses als ausgeübt. Statt eines Anspruchs auf Lieferung von Aktien steht dem
Bezugsrechtsinhaber ausschließlich ein Anspruch auf Zahlung eines Barausgleichs gegen den Hauptaktionär zu. Der Barausgleich berechnet sich nach folgender Formel:
	  	 9.6.1. To the extent that the waiting period (§ 2.4) has expired at the time of the
entry of the transfer resolution by the general meeting of shareholders in the commercial register of Mynaric, the subscription rights are deemed to have been exercised upon the entry of the transfer resolution. Instead of a claim to the delivery of
shares, the holder of subscription rights is only entitled to a cash settlement against the main shareholder. The cash settlement is calculated according to the following formula:

		
	 Barabfindung je Stückaktie der Myanric ./. Ausübungspreis.
	  	 Cash compensation per unit share of Myanric ./. exercise price.

  
 20 / 26 

			
	 Der Anspruch auf Zahlung des Barausgleichs wird fällig zum Zeitpunkt der Eintragung des
Übertragungsbeschlusses in das Handelsregister der Mynaric. Die Mynaric erklärt gegenüber dem Bezugsberechtigten bereits jetzt verbindlich, für die Zahlung des vorstehenden Barausgleichs durch den Hauptaktionär wie für
eine eigene Schuld einzustehen (Schuldbeitritt). Soweit sich die Barabfindung für die übertragenen Aktien erhöht (z. B. aufgrund eines Spruchverfahrens), gilt diese Erhöhung auch für die Bezugsrechte.
	  	 The claim for payment of the cash settlement is due at the time of registration of the transfer resolution in the
commercial register of Mynaric. Mynaric already now declares to the beneficiary in a binding manner that it will be liable for the payment of the above cash settlement by the main shareholder as if it were its own debt (joining of debt). If the cash
settlement for the transferred shares is increased (e.g. due to a judicial appraisal procedure), this increase also applies to the subscription rights.

		
	 9.6.2. Ist die Wartezeit (§ 2.4) zum Zeitpunkt der Eintragung des
Übertragungsbeschlusses in das Handelsregister der Mynaric noch nicht abgelaufen, gilt die vorstehende Vorschrift mit der Maßgabe, dass die Bezugsrechte mit Eintragung des Übertragungsbeschlusses in das Handelsregister der Mynaric
verfallen, d. h. dem Bezugsberechtigten steht auch in diesem Fall ein Anspruch auf Zahlung eines Barausgleichs gegen die Mynaric zu. Der Wert der Bezugsrechte berechnet sich in diesem Fall ebenfalls nach vorstehendem § 9.7.1.
	  	 9.6.2. If the waiting period (§ 2.4) has not yet expired at the time of the entry of
the transfer resolution in the commercial register of Mynaric, the above provision applies with the proviso that the subscription rights expire upon entry of the transfer resolution in the commercial register of Mynaric, i.e. the person entitled to
subscription rights is also entitled to a cash settlement against Mynaric in this case. In this case the value of the subscription rights is also calculated according to the above § 9.7.1.

		
	§ 10
Haftungsbeschränkungen	  	§ 10
Limitation of liability
		
	Die Haftung von Mynaric oder den zum Mynaric-Konzern gehörenden Unternehmen, ihren gesetzlichen Vertretern, Arbeitnehmern und Erfüllungsgehilfen ist auf Vorsatz und grobe
Fahrlässigkeit beschränkt. Die Haftung für Folgeschäden und entgangenen Gewinn ist ausgeschlossen.	  	The liability of Mynaric or the companies belonging to the Mynaric group, their legal representatives, employees and assistants is limited to intent and gross negligence. Liability for consequential damages and loss of profit is
excluded.

  
 21 / 26 

			
		
	§ 11
Kursrisiken, Steuerliche Risiken	  	§ 11
Exchange rate risks, tax risks
		
	 11.1  Mynaric und/oder die beteiligten Unternehmen übernehmen keinerlei
Gewähr für die allgemeine Marktentwicklung und die Kursentwicklung der Aktie der Gesellschaft nach der Ausgabe von Bezugsrechten oder der Ausübung von Bezugsrechten oder für irgend einen anderen Zeitpunkt oder Zeitraum. Es
besteht daher insbesondere keine Gewähr, dass Bezugsberechtigte, die Bezugsrechte ausüben, einen wirtschaftlichen Vorteil in Höhe der Differenz zwischen Ausübungspreis und aktuellem Börsenkurs erhalten oder in der Lage sind,
die bezogenen Aktien mit Gewinn zu veräußern. Die Annahme und die Ausübung von Bezugsrechten erfolgt daher allein auf Risiko des jeweiligen Bezugsberechtigten.
	  	 11.1  Mynaric and/or the companies involved do not assume any guarantee for the
general market development and the price development of the company’s share after the issue of subscription rights or the exercise of subscription rights or for any other point in time or period. In particular, there is no guarantee that
beneficiaries who exercise subscription rights will receive an economic advantage in the amount of the difference between the exercise price and the current market price or that they will be able to sell the subscribed shares at a profit. The
acceptance and exercise of subscription rights is therefore solely at the risk of the respective beneficiary.

		
	 11.2  Mynaric und/oder die beteiligten Unternehmen übernehmen keinerlei
Gewähr dafür, dass gemäß § 8 einzubehaltende Steuern und Abgaben oder vom Bezugsberechtigten zu zahlende Steuern und Abgaben nur auf den Differenzbetrag zwischen Ausübungspreis und aktuellem Börsenkurs bei
Ausübung der Bezugsrechte oder bei Lieferung der Aktien, auf einen durch Veräußerung tatsächlich erzielten Gewinn oder auf einen anderen bestimmten Betrag, erhoben werden. Die Bezugsberechtigten sind aufgefordert, sich
steuerlich beraten zu lassen.
	  	 11.2  Mynaric and/or the companies involved do not guarantee that taxes and duties to
be withheld according to § 8 or taxes and duties to be paid by the beneficiary will only be levied on the difference between the exercise price and the current stock exchange price when exercising the subscription rights or when delivering the
shares, on a profit actually achieved through sale or on another specific amount. The beneficiaries are requested to seek tax advice.

  
 22 / 26 

			
		
	§ 12
Insiderhandelsverbot	  	§ 12
Ban on insider trading
		
	 12.1  Gemäß Artikel 7 Marktmissbrauchsverordnung gelten Teile der
Bezugsberechtigten aufgrund ihrer Funktion als Mitglied des Vorstandes der Mynaric oder auf Grund der bestimmungsgemäßen Kenntnis von nicht öffentlich bekannten Insider-Informationen durch ihre Tätigkeit oder Aufgabe als
Insider. Insidern ist es unter anderem verboten, unter Ausnutzung ihrer Kenntnis von Insider-Informationen, Aktien der Mynaric zu erwerben oder zu veräußern. Dies gilt auch noch nach dem Ausscheiden der Bezugsrechtsinhaber aus dem
Anstellungsverhältnis, soweit sie gleich aus welchen Gründen über Insider-Informationen verfügen.
	  	 12.1  In accordance with Article 7 of the Market Abuse Ordinance, some of the
beneficiaries are considered to be insiders by virtue of their function as a member of the Executive Board of Mynaric or on the basis of the intended knowledge of non-publicly known insider information through
their activity or task. Among other things, insiders are prohibited from acquiring or selling shares in Mynaric using their knowledge of insider information. This applies even after the holders of subscription rights have left the employment
relationship, provided they have inside information for whatever reason.

		
	 12.2  Jeder Bezugsrechtsinhaber ist persönlich verantwortlich dafür, dass er
Aktien der Mynaric, die er aufgrund der Ausübung von Bezugsrechten erwirbt, nicht unter Verstoß gegen Insiderhandelsverbote veräußert. Die Festlegung von Ausübungszeiträumen gemäß § 2.3 stellt keine
Gewähr dafür dar, dass eine Veräußerung von Aktien der Mynaric innerhalb der Ausübungszeiträume oder im Anschluss hieran nicht gegen Insiderhandelsverbote verstößt.
	  	 12.2  Each holder of subscription rights is personally responsible for ensuring that
he/she does not sell shares in Mynaric which he/she acquires as a result of exercising subscription rights in violation of insider trading prohibitions. The determination of exercise periods in accordance with § 2.3 does not represent a
guarantee that a sale of Mynaric shares within the exercise periods or subsequently does not violate insider trading prohibitions.

  
 23 / 26 

			
		
	 12.3  Jeder Bezugsrechtsinhaber ist verpflichtet, sich vor der Ausübung von
Bezugsrechten oder der Veräußerung von Aktien über die jeweilige Rechtslage betreffend Insiderhandelsverbote nach deutschem Recht sowie über Insiderhandelsverbote nach anderen als den deutschen Rechtsnormen, die den
Bezugsrechtsinhaber betreffen könnten, zu informieren.
	  	 12.3  Before exercising subscription rights or selling shares, each holder of
subscription rights is obliged to inform himself about the respective legal situation regarding insider trading prohibitions under German law as well as insider trading prohibitions under other than German legal norms that could affect the holder of
subscription rights.

		
	§ 13
Keine betriebliche Übung oder Anspruch auf wiederholte Gewährung	  	§ 13
No company practice or entitlement to repeated grant
		
	Die Gewährung der Bezugsrechte erfolgt als freiwillige Leistung des jeweiligen beteiligten Unternehmens in Zusammenarbeit mit der Mynaric. Auch bei wiederholter Gewährung von Bezugsrechten (selbst ohne
Freiwilligkeitsvorbehalt) entstehen daher keinerlei Ansprüche gegen das beteiligte Unternehmen oder die Mynaric auf die erneute Gewährung von Bezugsrechten oder auf ähnliche oder gleichwertige Leistungen. Dies gilt auch dann, wenn
Bezugsrechte gleich aus welchen Gründen verfallen sind, ohne dass sie ausgeübt wurden.	  	The subscription rights are granted as a voluntary benefit by the respective participating company in cooperation with Mynaric. Therefore, even in the case of repeated granting of subscription rights (even without a voluntary
reservation) no claims whatsoever will arise against the participating company or Mynaric for the renewed granting of subscription rights or for similar or equivalent services. This also applies if subscription rights have expired for whatever
reason without having been exercised.

  
 24 / 26 

			
		
	§ 14
Anwendbares Recht, Erfüllungsort und Gerichtsstand	  	§ 14
Applicable law, place of performance and jurisdiction
		
	 14.1  Form und Inhalt der Bezugsrechte, der Optionsbedingungen und der
Individualvereinbarung sowie alle sich daraus ergebenden Rechte und Pflichten der Bezugsrechtsinhaber, der beteiligten Unternehmen oder der Mynaric bestimmen sich in jeder Hinsicht nach dem Recht der Bundesrepublik Deutschland unter Ausschluss der
Regelungen des internationalen Privatrechts und des einheitlichen UN-Kaufrechts.
	  	 14.1  The form and content of the subscription rights, the option conditions and the
individual agreement as well as all rights and obligations of the holders of subscription rights, the participating companies or Mynaric resulting from it are determined in every respect according to the law of the Federal Republic of Germany,
excluding the regulations of international private law and the uniform UN Convention on Contracts for the International Sale of Goods

		
	 14.2  Erfüllungsort sowie nicht ausschließlicher Gerichtsstand für
alle Rechtsstreitigkeiten aus oder im Zusammenhang mit den Bezugsrechte und den in diesen Optionsbedingungen geregelten Angelegenheiten ist München.
	  	 14.2  The place of performance and
non-exclusive place of jurisdiction for all legal disputes arising from or in connection with the subscription rights and the matters regulated in these option terms and conditions is Munich.

		
	§ 15
Sonstiges	  	§ 15
Miscellaneous
		
	 15.1  Die Bezugsrechte werden nicht verbrieft. Die Übertragung der Bezugsrechte
auf ein Depot bei einer Bank ist ausgeschlossen.
	  	 15.1  The subscription rights are not securitised. The transfer of the subscription
rights to a securities account at a bank is excluded.

  
 25 / 26 

			
		
	 15.2  Kommt es während der Laufzeit der Bezugsrechte zu Änderungen der
Börsenusancen, die eine Durchführung dieser Ausübungsbedingungen oder einzelner Bestimmungen wesentlich erschweren oder unmöglich machen, so ist Mynaric berechtigt, eine angemessene Anpassung vorzunehmen.
	  	 15.2  If during the term of the subscription rights there are changes in stock market
practices which make the implementation of these exercise conditions or individual provisions significantly more difficult or impossible, Mynaric is entitled to make an appropriate adjustment.

		
	 15.3  Sollte eine der Bestimmungen dieser Optionsbedingungen unwirksam oder
undurchführbar sein oder werden, so bleibt die Wirksamkeit oder die Durchführbarkeit der übrigen Bestimmungen davon unberührt. Eine durch die Unwirksamkeit oder Undurchführbarkeit einer Bestimmung entstehende Lücke
sowie etwaige andere Lücken werden im Wege ergänzender Vertragsauslegung unter Berücksichtigung der Interessen der Beteiligten sinngemäß ausgefüllt. Dies gilt auch, soweit das Maß einer Leistung oder Zeit (Frist,
Termine) betroffen ist; es tritt in solchen Fällen ein dem Gewollten möglichst nahe kommendes rechtlich zulässiges Maß der Leistung oder Zeit (Frist, Termin) an die Stelle des zunächst Vereinbarten.
	  	 15.3  Should one of the provisions of these option conditions be or become invalid or
impracticable, the validity or practicability of the remaining provisions shall remain unaffected. A gap resulting from the invalidity or impracticability of a provision as well as any other gaps shall be filled in by way of supplementary
interpretation of the contract, taking into account the interests of the parties involved. This shall also apply insofar as the measure of a performance or time (deadline, dates) is affected; in such cases, a legally permissible measure of
performance or time (deadline, date) which comes as close as possible to the intended measure shall replace the measure initially agreed.

		
	 15.4  Überschriften dienen lediglich der Orientierung und sind bei der Auslegung
nicht heranzuziehen.
	  	 15.4  Headings are for guidance only and should not be used in the
interpretation.

 Gilching, September 2021 

Management Board 
  

					
	  
 Bulent Altan
	 	            	  	  
 Stefan Berndt-von Bülow

  
 26 / 26

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00335-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00335-of-00352.parquet"}]]