Document:

Exhibit
4.13

 

RESELLER
AGREEMENT

 

THIS
AGREEMENT (the "Agreement") is made and entered into as of this 20th day of October 2015 (the "Effective Date")
by and between [*], a company organized and existing under the laws of Singapore (“[*]”), and Ability Computers and
Software Industries Ltd. (“ABILITY”), a company organized and existing under the laws of Israel and maintaining its
principal place of business at 14 Yad Harutzim Street, Tel Aviv, Israel (“RESELLER”).

 

WHEREAS,
[*] is a Provider, owner and licensor of telecommunications Solutions and Services; and

 

WHEREAS,
RESELLER is engaged in the business of marketing and selling telecommunications Solutions and Services; and

 

WHEREAS,
the parties desire that RESELLER, on the terms and conditions set out herein, shall serve as a worldwide exclusive RESELLER
of [*] Solutions and Services;

 

NOW,
THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of
which is acknowledged, the parties hereto agree as follows:

 

	1.	DEFINITIONS.

 

	1.1	Products.
                                         "Products" shall mean the Solutions and Services listed in Schedule A and any
                                         subsequent updates and upgrades thereto, provided as a hosted service from [*]'s infrastructure,
                                         and all accompanying and associated Documentation, which RESELLER shall market and distribute
                                         in the Territory.

 

	1.2	Customer.
                                         "Customer" shall mean an end--user of a Product in the Territory.

 

	1.3	Documentation.
                                         "Documentation" shall mean program documentation, user manuals, handbooks and
                                         other materials describing the use, design, installation, operation and maintenance of
                                         the Products.

 

	1.4	Trademarks.
                                         "Trademarks" shall mean the trademarks, service marks, trade names and logotypes
                                         authorized from time to time by [*].

 

	2.	APPOINTMENT
                                         

 

	2.1	Appointment.
                                         [*] hereby appoints RESELLER, and RESELLER hereby accepts appointment, as [*]’s
                                         exclusive worldwide reseller of the Products during the term of this Agreement.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

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	2.2	License
                                         Grant. In exchange for payment of the participation fee referenced in Section 3.1,
                                         and subject to all the other terms and conditions of this Agreement, [*] hereby grants
                                         to RESELLER an exclusive and non-transferable right and license during the term of this
                                         Agreement: (i) To market, promote, advertise, sell and distribute the Products directly
                                         to Customers worldwide; (ii) to market, promote, advertise, sell and perform support
                                         and maintenance services related to the Products only under RESELLER’s own name
                                         and not as a subcontractor of [*]; (iii) to use one copy of the Product to provide demonstrations
                                         to prospective Customers, so long as such copy is at all times under the control of RESELLER;
                                         RESELLER shall not (a) modify the Products or create derivative works thereof; (b) merge
                                         the Products with other software; (c) reverse engineer, decompile, disassemble, or otherwise
                                         attempt to derive the source code for the Products; (d) disclose to third parties the
                                         results of any bench tests performed on the Products without [*]’s prior written
                                         consent; or (e) otherwise use, copy or distribute the Products except as expressly allowed
                                         hereunder.

 

	2.3	Trademark.
                                         In connection with RESELLER's activities authorized pursuant to this Agreement, RESELLER
                                         shall not use [*]’s trademarks as part of RESELLER’s marketing materials,
                                         trademarks, service marks or trade names or in any other manner that would tend to imply
                                         that RESELLER has an affiliation with [*].

 

	2.4	Title.
                                         [*] and its suppliers retain the ownership of all right, title and interest in and to
                                         the Products, Documentation, Trademarks, and all patents, copyrights and other proprietary
                                         rights therein, and RESELLER shall acquire no rights therein except as expressly set
                                         forth in this Agreement. [*] shall own all rights, title and interest in all developments
                                         of and enhancements to the Products. RESELLER shall take no action, which may adversely
                                         affect or impair [*]’s ownership of such materials and rights.

 

	3.	RESELLER'S
                                         GENERAL OBLIGATIONS. 

 

	3.1	Marketing.
                                         RESELLER shall be responsible for the promotion and marketing of the Products. RESELLER
                                         will use its best efforts to further the interests of [*] and to maximize the markets
                                         for the Products in the Territory, including all local advertising. Furthermore, RESELLER
                                         shall use due diligence in safeguarding the interests of [*] and shall keep [*] informed
                                         of its activities as well as market conditions within the Territory.

 

	3.2	Pricing.
                                         Pricing of Products to Customers shall be defined by RESELLER and reviewed by [*]. Suggested
                                         sales price will be attached to this agreement.

 

	3.3	End-User
                                         License Agreements. (a) RESELLER shall be responsible for entering into a binding
                                         end-user license agreement with Customer (“EULA”), which complies in all
                                         respects with the language, copyright, import, export, privacy and other laws of the
                                         country of distribution. The terms and conditions of the EULA, including but not limited
                                         to the warranties, limitations of liability and grant of license, and intellectual property
                                         provisions shall specify that RESELLER shall assume sole liability vis-à-vis the
                                         Customer for product performance. RESELLER shall maintain a copy of the EULA for each
                                         Customer, and shall, promptly following execution of such agreements, provide [*] with
                                         a copy.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

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	3.4	Enforcement
                                         of End User License Agreement. If RESELLER learns of any breach of a EULA that could
                                         damage [*] (or its third party licensors), RESELLER shall take prompt, commercially reasonable
                                         corrective action at its expense to remedy the breach and/or obtain all other appropriate
                                         relief and shall, in addition, immediately notify [*] in writing of the breach and corrective
                                         action taken. The execution of these duties by RESELLER shall not preclude [*] from also
                                         taking corrective action. RESELLER’s foregoing obligations to enforce the EULAs
                                         as necessary to protect the interest of [*] and its third party licensors shall survive
                                         expiration or termination of this Agreement.

 

	3.5	Compliance
                                         with Laws. At all times, RESELLER shall comply with all laws, rules, ordinances,
                                         decrees and regulations applicable to its activities under this Agreement. RESELLER shall
                                         indemnify [*] for any costs, expenses, injury and damage caused to [*] as a result of
                                         RESELLER's failure to comply with applicable laws, rules, ordinances, decrees and regulations.

 

	3.6	Other
                                         Obligations. RESELLER shall have the following specific obligations with respect
                                         to the marketing and distribution of Products:

 

		3.7.1	To
                                         use its best efforts to further the promotion, marketing, license and distribution of
                                         Products, including taking the necessary actions to protect against improper copying
                                         or improper use
	 	 	 

		3.7.2	To
                                         promptly respond to all inquiries from prospective Customers, including complaints, process
                                         all orders and affect all shipments of Products; and
	 	 	 

		3.7.3	To
                                         keep [*] fully informed of all inquiries and orders received by RESELLER from prospective
                                         Customers.
	 	 	 

		3.7.4	To
                                         provide [*] with a quarterly revenue forecast for each upcoming quarter.

 

	3.7	Competing
                                         Products. Unless otherwise agreed in writing, during the term hereof, RESELLER shall
                                         not adapt, manufacture, sell, rent, distribute, market, promote or solicit the sale of
                                         any product which is competitive with the Products without prior written consent from
                                         [*].

 

	3.8	Customer
                                         Satisfaction. The Products are technically complex and require high-quality, individualized
                                         pre-marketing and post-marketing support. This support is necessary to achieve and maintain
                                         high Customer satisfaction. RESELLER agrees that high Customer satisfaction is a condition
                                         of its continued authorization by [*]. RESELLER agrees that it will not market and sell
                                         the products in geographical areas where it does not have the ability to support them.
                                         In addition, in order to help ensure high Customer satisfaction, RESELLER agrees:

 

		●	To
                                         report to [*] promptly and in writing all suspected and actual problems with any Product;

 

		●	To
                                         maintain a shipment report identifying the Customer, the Product sold, the date of sale,
                                         and the quantities of the Products sold;

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

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		●	To
                                         retain all shipment reports for three (3) years after the date of sale, and assist [*],
                                         upon request, in tracing a product to a Customer in distributing critical product information,
                                         or in discovering unauthorized marketing or infringing acts;

 

		●	To
                                         conduct business in a manner that reflects favorably at all times on the products, goodwill
                                         and reputation of [*];

 

		●	To
                                         avoid deceptive, misleading or unethical practices that are or might be detrimental to
                                         [*] or the [*] Products;

 

		●	To
                                         refrain from making any false or misleading representations with regard to [*] or the
                                         Products; and

 

		●	To
                                         refrain from making any representations, warranties or guarantees to customers with respect
                                         to the specifications, features or capabilities of the Products that are inconsistent
                                         with the literature distributed by [*].

 

	4.	[*]’S
    GENERAL OBLIGATIONS.

 

	4.1	Documentation.
                                         The Documentation shall be the most recent version distributed by [*] in the English
                                         language in the form of document files. RESELLER acknowledges that the Documentation
                                         is protected by copyright and may be reproduced or translated only as permitted in this
                                         Agreement. Any translations of Documentation are derivative works and are owned by [*].

 

	4.2	Compliance
                                         with Laws. At all times, [*] shall comply with all laws, rules, ordinances, decrees
                                         and regulations applicable to its activities under this Agreement.

 

	4.3	Software
                                         Developer’s Kit. [*] shall provide Reseller with a software development kit
                                         (the “SDK”), containing APIs related to the Products as well as relevant
                                         development tools. [*] shall provide Reseller with support with respect to the SDK while
                                         this Agreement is in effect, in accordance with Schedule B-1 attached hereto.

 

	5.	SUPPORT
                                         AND MAINTENANCE; TRAINING

 

	5.1	Support
                                         with respect to Customers. RESELLER shall be solely responsible for providing first
                                         tier technical support to Customers as described in Schedule B. [*] shall provide RESELLER
                                         with second and third tier technical support with respect to Customers in accordance
                                         with Schedule B. RESELLER shall be responsible for all communications with Customer.
	 	 

		5.2	Service
                                         Level Objectives. If RESELLER offers to provide its Customers with support and maintenance
                                         that exceeds [*]’s service level objectives as set out in Schedule B hereto [*]
                                         will not be obligated to support such service levels unless [*] has agreed to do so in
                                         writing. [*] will keep RESELLER informed as to [*]’s schedule for new versions
                                         and releases of the Products.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

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	5.3	Updates
                                         and Upgrades. [*] will make Updates and Upgrades (as these terms are defined in [*]’s
                                         standard terms and conditions) available to RESELLER when they become commercially available.

 

		6.	REGISTRATION/ORDERING.

 

		6.1	Product
                                         Registration. RESELLER is required to register all Customers of Products with [*]
                                         in accordance with then current [*] registration procedures.

 

		6.2.	Ordering.
                                         RESELLER shall order products from [*] on a customer by customer basis, by means of the
                                         [*] Product Order Form via electronic communications in accordance with the standard
                                         [*] ordering procedures. All orders shall be subject to [*]’s acceptance, which
                                         shall not be unreasonably withheld.

 

		7.	PAYMENT
                                         TERMS.

 

		7.1	[*]
                                         shall receive 50% of net income received by RESELLER from its customers for Products
                                         and associated maintenance and support. [*] shall issue an invoice for ordered Products
                                         and services which shall be payable by RESELLER within fifteen (15) days of receipt.
                                         Late payments shall accrue interest at the rate of 12% annually, and RESELLER shall reimburse
                                         [*] for all costs of collection incurred.

 

All
payments due hereunder are exclusive of all sales taxes, use taxes, value added taxes and any other similar taxes imposed by any
federal, state, provincial or local governmental entity on the transactions contemplated by this Agreement, excluding taxes based
upon [*]’s net income. When [*] has the legal obligation to pay or collect such taxes, the appropriate amount shall be invoiced
to and paid by RESELLER unless RESELLER provides [*] with a valid tax exemption certificate authorized by the appropriate taxing
authority. 

 

In
the event that any withholding taxes or any other similar taxes are imposed by any federal, state, provincial or local governmental
entity on the transactions contemplated by this Agreement RESELLER shall pay such taxes in such amounts as are necessary to ensure
that [*] receives the full amount of the fee required under the first paragraph of this Section 7.l.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

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		7.2.	Audit
                                         Rights. RESELLER agrees to allow [*] to examine its records to determine compliance
                                         or noncompliance with this Agreement. Any examination will be conducted only by an authorized
                                         representative of [*], such representative to be a qualified third party and will occur
                                         during regular business hours at RESELLER's offices and will not interfere unreasonably
                                         with RESELLER's business activities. A regional or national Certified Public Accounting
                                         firm or a law firm will automatically be deemed to be a qualified third party. Examinations
                                         will be made no more frequently than twice per contract year, and [*] will give RESELLER
                                         ten (10) business days or more prior written notice of the date of the examination and
                                         the name of [*]'s authorized representative who will be conducting the examination. The
                                         audit will be conducted at [*]'s expense unless the results of such audit establish that
                                         inaccuracies in the quarterly reports have resulted in underpayment to [*] of more than
                                         (5%) of the amount due in any quarter, in which case RESELLER shall pay within 30 days
                                         all amounts due and bear the expenses of the audit. In the event a second instance of
                                         a more than a 5% underpayment is discovered, [*], at its option, will have the right
                                         to terminate the Agreement for cause with 15 days notice, in addition to any other rights
                                         [*] may have hereunder or at law. In the event a 5% underreporting is found, the examiner
                                         will give [*] an examination report containing the type of error(s), number of customers
                                         affected and the dollar amount. If it is discovered that the RESELLER has distributed
                                         the product through unauthorized agents or other third parties, the names of such agents,
                                         or third parties may be revealed to [*].

 

		7.3	Minimum
                                         Due. Each contract year that this Agreement is in effect (i.e., each twelve-month
                                         period starting on the Effective Date and each anniversary thereof), RESELLER shall sell
                                         a minimum of $10,000,000 (ten million US dollars) of Products resulting in $5,000,000
                                         (five million US dollars) payments to [*] under this contract. Shall RESELLER not have
                                         satisfied this commitment at the end of any contract year, it shall pay [*] a 15% penalty
                                         against the shortfall amount. For example, if RESELLER has only sold $8,000,000 of Products
                                         in a contract year, it shall owe [*] a 15% penalty on the $2,000,000 shortfall, or $300,000.

 

		7.4	Minimum
                                         and Penalty Security. In exchange for the entering into exclusive worldwide agreement
                                         and to secure the minimum sales and penalty - RESELLER shall pay [*] monthly payments
                                         of $125,000 each, for the period of this agreement. The total amount of penalty due under
                                         paragraph 7.3 will be reduced by the amount paid monthly. This fee shall be due and payable
                                         on the 1st day of every month.

 

		7.5	Compensation
                                         Fund. Agreed between RESELLER and [*] that RESELLER will withhold 50% of each payment
                                         received by RESELLER from customer for Products and services in a Trust account as a
                                         “Compensation Fund”. The withholding period in the Compensation Fund is 12
                                         months or as agreed by parties. Upon completion the withholding period funds will be
                                         released and transferred to the RESELLER and [*] bank account. Funds in the Compensation
                                         Fund will be used for a sole purpose to compensate RESELLER’s client and settle
                                         disputes if and whenever they may arise as a result of the client’s dissatisfaction
                                         with Products or services.

 

		8.	DEVELOPMENT
                                         RIGHTS AND OBLIGATIONS.

 

		8.1	In
                                         connection with RESELLER’s exercise of the rights set forth in Section 2.2(iv)
                                         above, [*] shall provide RESELLER with necessary APIs and documentation. In addition,
                                         RESELLER may obtain support from [*]’s professional services department.

 

		8.2	Prior
                                         to distributing any application, connector or other code developed under Section 2.2(iv)
                                         (hereinafter referred to as a “Development”), RESELLER shall provide such
                                         Development to [*] solely for purposes of testing and evaluation to determine compatibility
                                         between the Development and the Product. If [*] opts to perform such testing and evaluation,
                                         it shall treat the results thereof as confidential. If [*], in its reasonable discretion,
                                         determines that the Development is not compatible with the Product, [*] may terminate
                                         this Agreement upon thirty days written notice if RESELLER fails to modify the Development
                                         so that it is compatible within that time frame.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

    	 	6	 

     

    

 

		8.3	RESELLER
                                         shall retain all rights to any Development that is not a derivative work, and shall indemnify
                                         and hold [*] harmless from any third party claims and resulting losses, costs, liabilities
                                         and expenses (including reasonable attorney’s fees) related to Developments.

 

		8.4	RESELLER
                                         shall modify Developments to the extent necessary for them to work with updated versions
                                         of the Product, within sixty days of updated versions being made available to RESELLER.

 

		9.	WARRANTY
                                         AND INDEMNFICATION.

 

		9.1	Limited
                                         Warranty. [*] warrants as follows:

 

		9.1.1	[*]
                                         is the owner or licensee of all intellectual property rights in and to the Products and
                                         there is no pending litigation against [*] which could materially impact upon its ability
                                         to perform its obligations under this Agreement.

 

		9.1.2	[*]
                                         has full power and right to license the Products and perform all other terms of this
                                         Agreement, and the use of the Products, or the exercise of the licenses granted hereunder,
                                         will not violate or interfere with the intellectual property or contractual rights of
                                         any third party, including without limitation, those rights arising under copyright,
                                         trademark, trade secret or patent law, provided, however that [*] shall not be liable
                                         for breach of representation and warranty if a violation or interference occurs by reason
                                         of software or content supplied by RESELLER, Customer, content owners, or other third
                                         parties.

 

		9.1.3	Indemnification
                                         by RESELLER. RESELLER agrees to indemnify and hold harmless [*] from and against
                                         any and all third party claims and resulting losses, costs, liabilities, and expenses
                                         (including reasonable attorney’s fees), arising as a result of or in connection
                                         with (i) any breach by RESELLER of its obligations under this Agreement; (ii) the negligent
                                         or intentional acts or omissions of RESELLER, its employees or agents, and (iii) any
                                         representation, warranty, promise or assurance made or granted by RESELLER to a Customer
                                         or prospective customer.

 

		10.	LIMITATION
                                         OF LIABILITY.

 

		10.1	IN
                                         NO EVENT SHALL [*] AND IT LICENSORS OR RESELLER BE LIABLE TO THE OTHER FOR ANY SPECIAL,
                                         INCIDENTAL, INDIRECT, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES, WHETHER FORESEEABLE
                                         OR UNFORESEEABLE, WHICH MAY ARISE OUT OF OR IN CONNECTION WITH THIS AGREEMENT, REGARDLESS
                                         OF WHETHER EITHER PARTY HAS BEEN APPRISED OF THE POSSIBILITY OR LIKELIHOOD OF SUCH DAMAGES
                                         OCCURRING, OR WHETHER CLAIMS ARE BASED OR REMEDIES ARE SOUGHT IN CONTRACT OR TORT OR
                                         OTHERWISE.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

    	 	7	 

     

    

 

	10.2	EXCEPT
    AS SET FORTH IN SECTION 9.1, IN NO EVENT SHALL [*]’S OR ITS LICENSORS’ TOTAL CUMULATIVE LIABILITY FOR ANY DAMAGES
    TO RESELLER OR ANY OTHER ENTITY EVER EXCEED THE AGGREGATE FEES PAID BY RESELLER TO [*].

 

	11.	CONFIDENTIALITY.

 

		11.1	Non
                                         Disclosure. The parties agree that any Confidential Information provided under this
                                         Agreement shall be held and maintained in strict confidence. Each party agrees to protect
                                         the confidentiality of such information in a manner consistent with the way a reasonable
                                         person would protect similar Confidential Information. "Confidential Information"
                                         means the information and materials noticed or marked by [*] or RESELLER as confidential
                                         and proprietary, or which should reasonably be understood as confidential and proprietary
                                         given the nature of the information or materials. "Confidential Information"
                                         does not include information that (i) is already known to the receiving party at the
                                         time it is disclosed and has not been obtained wrongfully, (ii) becomes publicly known
                                         without fault of the receiving party, (iii) is independently developed by the receiving
                                         party, (iv) is approved for release in writing by the disclosing party, (v) is disclosed
                                         without restriction by the disclosing party to a third party, or (vi) is disclosed pursuant
                                         to legal obligations beyond the control of the disclosing and receiving parties.

 

		11.2	Legal
                                         Action. At [*]’s request, RESELLER shall cooperate fully with [*] in any and
                                         all legal actions taken by [*] to protect its rights in the Products and in the [*] Confidential
                                         Information.

 

		12.	TERM
                                         AND TERMINATION.

 

	12.1	Term.
    This Agreement shall take effect on the Effective Date and shall continue in force for three years (the “Initial Term”).
    Thereafter it will be automatically terminate unless renewed.

 

		12.2	Termination.
                                         Notwithstanding the provisions of the foregoing, this Agreement may be terminated in
                                         accordance with the following provisions:

 

		12.2.1	Either
                                         party hereto may terminate this Agreement at any time by giving notice in writing to
                                         the other party, which notice shall be effective upon receipt, should the other party
                                         be in material breach of this Agreement and fail to cure such breach within thirty (30)
                                         days of written notice thereof, file a petition of any type as to its bankruptcy, be
                                         declared bankrupt, become insolvent, make an assignment for the benefit of creditors,
                                         or go into liquidation or receivership or otherwise lose control over all or substantially
                                         all of its business.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

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		12.3	Rights
                                         and Obligations on Termination or Expiration.

 

	 	12.3.1	Termination
    or expiration of this Agreement shall not release either party from the obligation to make payment of all amounts then or
    thereafter due and payable.

 

	 	12.3.2	Upon
    termination or expiration of this Agreement, RESELLER shall: (1) immediately return to [*] or destroy (i) all media containing
    the Products; (ii) all originals and copies of the Products, manuals, Documentation, product literature, fee schedules, and
    other written materials provided by [*]; or (iii) all Confidential Information and other property of [*], provided that such
    materials or information are in RESELLER’s possession or under its control; (2) immediately discontinue holding itself
    out as a distributor of the Products, shall destroy all advertising and promotional materials in its possession or control;
    and (3) deliver to [*] a document executed on behalf of RESELLER certifying RESELLER’s compliance with this Section.

 

		13.	GOVERNING
                                         LAW

 

This
Agreement shall be governed by, and interpreted and construed in accordance with, the substantive laws of Israel, conflicts of
law excluded. Both parties hereby irrevocably submit any disputes under this Agreement to the jurisdiction of the courts located
in Tel-Aviv, Israel.

 

		14.	MISCELLANEOUS.

 

	14.1	Relationship.
    This Agreement does not make either party the employee, franchisee, agent or legal representative of the other for any purpose
    whatsoever. Neither party is granted any right or authority to assume or to create any obligation or responsibility, express
    or implied, on behalf of or in the name of the other party. In fulfilling its obligations pursuant to this Agreement each
    party shall be acting as an independent contractor.

 

		14.2	Assignment.
                                         RESELLER shall not assign or otherwise transfer any of its rights or obligations under
                                         this Agreement without the prior written consent of [*]. Any prohibited assignment shall
                                         be null and void. [*] may transfer its rights and obligations hereunder to any company
                                         or other legal entity that is controlled by, controls or is under common control with
                                         [*]. This Agreement shall inure to the benefit of and shall be binding on the successors
                                         and permitted assigns of the parties.

 

		14.3	Entire
                                         Agreement. This Agreement constitutes the entire agreement of the parties with respect
                                         to the subject matter hereof, and supersedes all previous agreements by and between the
                                         parties as well as all proposals, oral or written and all negotiations, conversations
                                         or discussions heretofore had between the parties related to the subject matter of this
                                         agreement. The parties acknowledge that they have not been induced to enter into this
                                         agreement by any representations or statements, oral or written, not expressly contained
                                         herein.

 

		14.4	Amendment.
                                         This Agreement shall not be deemed or construed to be modified, amended, rescinded, cancelled
                                         or waived, in whole or in part, except by written amendment signed by the parties hereto.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

    	 	9	 

     

    

 

		14.5	Severability.
                                         In the event that any of the terms of this Agreement are in conflict with any applicable
                                         rule of law or statutory provision or otherwise unenforceable under applicable laws or
                                         regulations of any government or subdivision thereof, such terms shall be deemed stricken
                                         from this Agreement, but such invalidity or unenforceability shall not invalidate any
                                         of the other terms of this Agreement and this Agreement shall continue in force, unless
                                         the invalidity or unenforceability of any such provisions hereof does substantial violence
                                         to, or where the invalid or unenforceable provisions comprise an integral part of, or
                                         are otherwise inseparable from, the remainder of this Agreement.

 

		14.6	Counterparts.
                                         This Agreement shall be executed in two or more counterparts, and each such counterpart
                                         shall be deemed an original hereof. Any translation of this Agreement into any other
                                         language shall be for convenience purposes only and shall not be binding on any party.

 

		14.7	Delay
                                         or Omission Not Waiver. No delay or failure by either party to take any action or
                                         assert any right hereunder shall be deemed to be a waiver of such right in the event
                                         of the continuation or repetition of the circumstances giving rise to such right.

 

		14.8	Export.
                                         RESELLER may not export or re-export any underlying software, technology or other information
                                         from the Product except in full compliance with all applicable laws and regulations.
                                         In particular, but without limitation, none of the underlying information or technology
                                         may be exported or re-exported (i) into (or to a national or resident of) any country
                                         to which Israel or the U.S.. has embargoed goods or (ii) to anyone on the U.S. Treasury
                                         Department’s list of Specially Designated Nationals or the U.S. Commerce Department’s
                                         or State Department’s Table of Denial Orders.

 

		14.9	No
                                         Third Party Beneficiaries. No entities not a party to this Agreement shall be deemed
                                         third party beneficiaries hereunder.

 

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first above written.

 

	[*]		 	 	
	 	 	 	 	
	By:		 	By:	
	 	 	 	 	 
	Its:		 	Its:	
	 	 	 	 	
	Date:		 	Date:	

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

    	 	10	 

     

    

 

MUTUAL
NONDISCLOSURE AGREEMENT

 

 

This
AGREEMENT dated ______________________ (“Effective Date”), is by and between [*], a company organized and existing
under the laws of Singapore and Ability Computers Anad Software Industries Ltd., an Israeli corporation having offices
at 14 Yad harutzim Str, Tel Aviv, Israel. The above companies are collectively referred to as the “Parties” and individually
referred to as a “Party”.

 

WITNESSETH:

 

WHEREAS
the Parties desire to discuss the possibility of entering into certain business transactions or otherwise developing a business
relationship (the “Relationship”); and

 

WHEREAS,
in furtherance of the Relationship, it is essential that the Parties exchange certain confidential marketing, technical and commercial
information under the terms and conditions specified below.

 

NOW
THEREFORE, the Parties, intending to be legally bound, hereby agree as follows:

 

1.     
For the purpose of this Agreement, “Confidential Information” means all confidential and/or proprietary information,
disclosed by one Party to the other both prior to and following the Effective Date of this Agreement, and whether oral, electronic,
visual or written form, including, without limitation, processes, services, products, plans, intentions, pricing, inventions,
intellectual property rights, trade secrets, know-how, methods, techniques, computer software, source and object codes, algorithms,
engineering concepts, product specifications, models descriptions, drawings, samples, demonstrations, manufacturing processes,
research and development efforts, development tools, marketing information, sales, suppliers, customers, and financial data.

 

2.     
The Parties shall use the other Party’s Confidential Information only for purposes of considering and performing the Relationship.
The Parties shall not disclose, or allow disclosure of, such Confidential Information to any third party without the prior written
approval of the other Party.

 

3.     
Each Party shall protect the confidentiality of such Confidential Information with the same degree of care it uses to protect
its own Confidential Information, which measures will, at a minimum, be in accordance with generally accepted business standards
for protecting confidential and proprietary business information.

 

4.     
Each Party shall limit the distribution and disclosure of such Confidential Information to only the minimum number of its employees
or representatives who have a need to know for purposes of the Relationship. The Party disclosing Confidential Information to
its employees or representatives shall (i) ensure that such persons personally adhere to and comply with all terms and obligations
of confidentiality, use and protection of the Confidential Information as accepted by the Parties under this Agreement and (ii)
be liable if such persons do not adhere to such requirements.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

    	 	11	 

     

    

 

5.     
The disclosing Party shall use reasonable efforts to (i) identify the confidential nature of the Confidential Information by proprietary
and/or confidential notices and legends and (ii) identify the confidential nature of oral or visually disclosed Confidential Information
at the time of disclosure and reduce oral Confidential Information to writing within (30) days of its disclosure, marked as set
forth above. Notwithstanding the foregoing, with respect to Confidential Information other than in written form, the disclosing
Party need only identify such Confidential Information as confidential once. The disclosing Party shall have the right to provide
advance written designation of the confidential nature of the Confidential Information which will be disclosed in other than written
form without the need to follow up in writing. Notwithstanding the failure to mark Confidential Information as confidential or
proprietary, or to record oral conversations in writing, said information shall be deemed Confidential Information hereunder if
it is of the type or nature that would reasonably be expected by the Parties, in the context of its disclosure, to be confidential.
Confidential Information shall include notes and other materials prepared by the receiving Party that incorporate any of the disclosing
Party’s Confidential Information.

 

6.     
A Party may copy Confidential Information provided by the other Party only to the extent reasonable or necessary for the Relationship.
All copies shall always clearly contain the same proprietary and confidential notices and legends which appear on the original
Confidential Information. Confidential Information shall remain the property of the disclosing Party.

 

7.     
Within thirty (30) days of receipt by the receiving Party of a written request from the disclosing Party, and in any event within
thirty (30) days of termination of this Agreement, the Confidential Information together with all copies, summaries, analyses
and extracts thereof shall be returned to the disclosing Party or destroyed, at the disclosing Party’s election, and if
requested by the disclosing Party, the receiving Party shall provide clear evidence of such destruction, for example, by written
certification. The receiving Party may retain an archival copy for use (on a confidential basis) solely in the adjudication of
a dispute pertaining to this Agreement.

 

8.     
This Agreement shall become effective on the Effective Date and shall remain in effect for a period of two (2) years unless sooner
terminated or extended in writing by the Parties.

 

9.     
Notwithstanding the termination or expiration of this Agreement, the confidentiality, use, venue and governing law provisions
contained herein shall remain in full force and effect and will be binding on the receiving Party and its heirs, successors and
assigns for four (4) years from the date of termination of this Agreement, or in the case of any trade secret, for as long as
such Confidential Information remains a trade secret.

 

10. 
The obligation of confidentiality shall not apply to the extent the Confidential Information (i) was previously known to the receiving
Party free of any obligation to keep it confidential at the time it was communicated by the disclosing Party, or (ii) is or becomes
generally known to the public, provided that such public knowledge is not the result of any acts attributable to the receiving
Party, or (iii) which the disclosing Party explicitly agrees in writing need not be kept confidential, or (iv) is disclosed pursuant
to any judicial, arbitral or governmental requirement or order, provided that the receiving Party takes reasonable steps to give
the disclosing Party sufficient notice in order to contest such requirement or order, or (v) is independently developed by the
receiving Party without reliance on the disclosing Party’s Confidential Information which can be demonstrated to the reasonable
satisfaction of the disclosing Party or (vi) is rightfully received by the receiving Party from a third party free of any obligation
of confidentiality.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

    	 	12	 

     

    

 

11. 
Nothing contained herein shall be construed as conferring, by implication, estoppel or otherwise, any license or right in respect
of any trademark, copyright, Confidential Information, invention or any existing or later issued patent or other intellectual
property right. The receiving Party will not make, have made, use or sell for any purpose any product or other item using, incorporating
or derived from any of the disclosing Party’s Confidential Information. No other rights or obligations other than those
expressly recited herein are to be implied from this Agreement.

 

12. 
The Confidential Information is provided “as is” with no warranties expressed or implied.

 

13. 
This Agreement shall be construed in accordance with and governed by Delaware law without reference to its conflict of laws principles.
Process may be served on either Party by U.S. mail, postage pre-paid, certified or registered, or globally recognized overnight
mail service, and addressed to the attention of the respective Party’s counsel.

 

14. 
The Parties agree that the Confidential Information furnished hereunder is of a unique nature and of extraordinary value and of
such character that any unauthorized use or disclosure thereof by the recipient will cause irreparable injury to the disclosing
Party for which the disclosing Party will have no adequate remedy at law. Accordingly, in the event of actual or threatened unauthorized
use or disclosure, the disclosing Party shall have the right, in addition to all other remedies at law or in equity, to have the
provisions of this Agreement specifically enforced by any court having equity jurisdiction and to seek a temporary or permanent
injunction or order prohibiting the recipient, its agents, officers, directors, and employees, as the case may be, from such unauthorized
use or disclosure of any Confidential Information provided pursuant to this Agreement. In any proceeding by the disclosing Party
to obtain injunctive relief, the receiving Party’s or any other defendant’s ability to answer in damages shall not
be a bar or be interposed as a defense to the granting of relief and the disclosing Party shall not be required to post a bond
or other undertaking in such a proceeding.

 

15. 
Each Party acknowledges that the other Party and any of such other Party’s products and/or technology made available to
it might be subject to the export control laws and regulations of the United States and each Party agrees to abide by those laws
and regulations. Each Party further acknowledges that the other Party and any of such other Party’s other products and /or
other technology may also be subject to the export control laws and regulations of the country in which the same were received,
and that each Party will abide by such laws and regulations. Each Party agrees to comply with all applicable export and re-export
control laws and regulations, including the Export Administration Regulations (“EAR”) maintained by the U.S. Department
of Commerce, trade and economic sanctions maintained by the Treasury Department’s Office of Foreign Assets Control, and
the International Traffic in Arms Regulations (“ITAR”) maintained by the Department of State. Specifically, each Party
covenants that it shall not, directly or indirectly, sell, export, re-export, transfer, divert, or otherwise dispose of any products,
software, or technology (including products derived from or based on such technology) received from the other Party under this
Agreement to any destination, entity, or person prohibited by the laws or regulations of the United States, without obtaining
prior authorization from the competent government authorities as required by those laws and regulations. Each Party agrees to
indemnify, to the fullest extent permitted by law, the other Party from and against any fines or penalties that may arise as a
result of its breach of this provision. This export control clause shall survive termination or cancellation of this Agreement.

 

16. 
Unless otherwise stated, the term “Party” shall include all affiliates (specifically, any other past, present or future
entity which, directly or indirectly, controls, is controlled by or is under common control of a Party) of each Party.

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

    	 	13	 

     

    

 

17. 
Neither Party may reverse engineer, reverse assemble or de-compile any part of the other Party’s Confidential Information
without first obtaining the other Party’s written consent.

 

18. 
If any provision of this Agreement is held invalid or unenforceable by a competent court, it is the Parties’ intent that
the remaining provisions shall be in full force and effect.

 

19. 
This Agreement contains the entire agreement of and supersedes any and all prior understandings, arrangements and agreements between
the Parties hereto whether oral or written, with respect to the subject matter hereto.

 

20. 
Neither Party shall be entitled to assign or transfer this Agreement nor any rights or obligations contained herein to any third
party without the prior written approval of the other Party hereto. This Agreement shall be binding upon and inure to the benefit
of the Parties and their respective heirs, executors, administrators, successors and assigns.

 

21. 
This Agreement may only be amended in a writing signed by both Parties.

 

22. 
This Agreement may be executed in counterparts, exchanged by facsimile or electronic copies via Adobe Portable Document Format
(“PDF”) or similar technology, and when taken as a whole shall constitute one agreement.

 

*
* * *

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Mutual Nondisclosure Agreement to be executed by their duly authorized officers
as of the Effective Date.

 

	[*]		 	ABILITY
	 	 	 	 	
	By:	      	    	By:	      
	 	 	 	 	 
	Name:
    		 	Name:	
	 	 	 	 	
	Title:		 	Title:	

 

 

 

Confidential
information has been omitted from this document and filed separately with the Securities and Exchange Commission, as indicated
by the notation “[*].” Confidential treatment has been requested with respect to this omitted information.

 

  

14Exhibit 10.1

 

Amended
and Restated Employment Agreement

 

This
Amended and Restated Employment Agreement (this “Agreement”), dated as of May 2, 2016 (the “Effective
Date”), is made by and between Lindblad Expeditions Holdings, Inc., a Delaware corporation (together with any successor
thereto, the “Company”), and John T. McClain (“Executive”) (collectively Executive
and the Company are referred to herein as the “Parties”).

 

RECITALS

 

		A.	The
                                         Company and Executive previously entered into that certain Employment Agreement, dated
                                         as of October 27, 2015 (the “Prior Employment Agreement”).

 

		B.	It
                                         is the desire of the Company and Executive to amend and restate the Prior Employment
                                         Agreement in its entirety and to continue the services of Executive in accordance with
                                         the terms of this Agreement.

 

		C.	The
                                         Parties acknowledge that the terms of this Agreement, upon its effectiveness, shall supersede
                                         the Prior Employment Agreement.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the foregoing and of the respective covenants and agreements set forth below, the Parties hereto
agree as follows:

 

	1.	Employment.

 

(a)          General.
Effective as of the Effective Date, the Company shall continue to employ Executive for the period and in the position set forth
in this Section 1, and subject to the other terms and conditions herein provided.

 

(b)          Employment
Term. The term of employment under this Agreement (the “Term”) shall be for the
period beginning on the Effective Date and ending on the fourth anniversary of the effective date of the Prior Employment Agreement,
subject to earlier termination as provided in Section 3.

 

(c)          Position
and Duties. Executive shall serve as the Chief Financial Officer of the Company, with such responsibilities, duties and authority
normally associated with such position and such additional responsibilities, duties and authority as may from time to time be
reasonably assigned to Executive by the Chief Executive Officer of the Company or by the Board of Directors of the Company or
an authorized committee thereof (in any case, the “Board”). Executive shall report directly to the Chief Executive
Officer of the Company. Executive shall devote substantially all of Executive’s working time and efforts to the business
and affairs of the Company (which shall include service to its subsidiaries) and shall not engage in outside business activities
without the consent of the Board, provided that Executive shall be permitted to (i) manage Executive’s personal,
financial and legal affairs, (ii) participate in charitable, religious, civic, community, industry or trade organizations or associations,
(iii) serve on the board of directors of not-for-profit or tax-exempt organizations and (iv) with the prior approval
of the Board (not to be unreasonably withheld), serve on the board of directors and the committees thereof of not more than three
(3) public corporations, provided that (x) approval for Executive’s continued service on the boards of directors
and committees thereof of Lands’ End, Inc. and Seritage is deemed granted hereby and (y) approval for Executive’s
service on the board of directors and the committees thereof of one (1) additional public corporation that does not compete directly
or indirectly with the Company is deemed granted hereby, in each case, subject to compliance with this Agreement and provided
further that such activities do not materially interfere with Executive’s performance of Executive’s duties and
responsibilities hereunder. Executive agrees to observe and comply with the rules and policies of the Company applicable to executive
officers as adopted by the Company from time to time, in each case as amended from time to time, as set forth in writing, and
as delivered or made available to Executive (each, a “Policy”).

 

     

     

    

 

	2.	Compensation and Related Matters.

 

(a)          Annual
Base Salary. During the Term, Executive shall receive a base salary at a rate of $425,000 per annum, which shall be paid in
accordance with the customary payroll practices of the Company and its subsidiaries (but in no event less frequently than semi-monthly)
and shall be pro-rated for partial years of employment. Such annual base salary shall be reviewed (and may be adjusted upwards)
from time to time by the Board or the Compensation Committee of the Board (the “Compensation Committee”) (such
annual base salary, as it may be adjusted upwards from time to time, the “Annual Base Salary”). All amounts
paid to Executive under this Agreement shall be in U.S. dollars.

 

(b)          Bonus.

 

(i)          Annual
Bonus. Subject to Section 2(b)(ii), during the Term, Executive will be eligible to participate in an annual incentive
program established by the Board or the Compensation Committee. Executive’s annual compensation under such incentive program
(the “Annual Bonus”) shall be targeted at 75% of his Annual Base Salary. The Annual Bonus will scale upward
and downward based on individual and/or actual Company performance, as determined by the Board or the Compensation Committee.
The payment of any Annual Bonus pursuant to the incentive program shall be subject to any applicable performance determinations
as may be made annually by the Board or the Compensation Committee, and Executive’s continued employment with the Company
through the date of payment. The Annual Bonus, if any, shall be paid to Executive no later than seventy five (75) days following
the end of the calendar year to which the Annual Bonus relates.

 

(ii)          Guaranteed
Bonus for 2016. Notwithstanding Section 2(b)(i), in lieu of any Annual Bonus for calendar year 2016, Executive
shall receive a guaranteed bonus payment of $250,000, payable in two installments of $75,000 and $175,000 on May 15, 2016 and
August 15, 2016, respectively (the “Guaranteed Bonus Payments”). The payment of the Guaranteed Bonus Payments
shall be subject solely to Executive’s employment with the Company not being terminated by the Company for Cause pursuant
to Section 3(a)(iii) or as a result of Executive’s resignation without Good Reason pursuant to Section 3(a)(vi)
before the applicable date of payment.

 

(c)          Equity
Compensation. During the Term, Executive will be eligible to participate in and may receive additional awards under any of
the Company’s equity incentive award plans and programs as in effect from time to time, with any new equity incentive grants
made in the sole discretion of the Board or Compensation Committee and with the expectation that Executive will receive an annual
equity incentive grant under such equity incentive award plans or programs of the Company. The grant date fair value of Executive’s
annual equity incentive grant shall be targeted at 100% of his Annual Base Salary, it being understood that all equity incentive
grants are made in the sole discretion of the Board or Compensation Committee and may vary year-to-year based on benchmarking,
performance or other considerations as may be determined by the Board or Compensation Committee in its discretion. In the event
that the first annual equity incentive grant for the Company’s executives generally occurs prior to the first anniversary
of the original effective date of the Prior Employment Agreement, the grant date fair value of Executive’s equity incentive
grant shall be prorated to reflect the partial year of service.

 

    	 	2	 

     

    

 

(d)          Benefits.
During the Term, Executive shall be eligible to participate in employee benefit plans, programs and arrangements (including perquisite
and fringe benefit arrangements) maintained for senior executives of the Company (including medical, dental, life insurance, disability,
paid time off and 401(k) plans), consistent with the terms thereof, on a basis consistent with the participation of senior executives
of the Company, and as such plans, programs and arrangements may be amended from time to time. In no event shall Executive be
eligible to participate in any severance plan or program of the Company, except as set forth in Section 4 of this Agreement.

 

(e)          Vacation.
During the Term, Executive shall be entitled to a minimum of twenty (20) days annually of paid vacation in accordance with the
Company’s Policies.

 

(f)          Business
Expenses. The Company shall reimburse Executive for all reasonable travel and other business expenses incurred by Executive
in the performance of Executive’s duties to the Company in accordance with the Company’s expense reimbursement Policy
and in compliance with Section 12(m).

 

	3.	Termination.

 

Executive’s
employment hereunder may be terminated by the Company or Executive, as applicable, without any breach of this Agreement under
the following circumstances:

 

(a)          Circumstances.

 

(i)          Death.
Executive’s employment hereunder shall terminate upon Executive’s death.

 

(ii)         Disability.
If Executive has incurred a Disability, as defined below, the Company may terminate Executive’s employment.

 

(iii)        Termination
for Cause. The Company may terminate Executive’s employment for Cause, as defined below.

 

(iv)       Termination
without Cause. The Company may terminate Executive’s employment without Cause, which shall include a termination of
Executive as a result of the Company not renewing the Term pursuant to Section 1.

 

(v)         Resignation
from the Company for Good Reason. Executive may resign Executive’s employment with the Company for Good Reason, as defined
below.

 

(vi)        Resignation
from the Company Without Good Reason. Executive may resign Executive’s employment with the Company for any reason, other
than Good Reason, or for no reason.

 

(b)          Notice
of Termination. Any termination of Executive’s employment by the Company or by Executive under this Section 3
(other than termination pursuant to Section 3(a)(i)) shall be communicated by a written notice to the other Party (i) indicating
the specific termination provision in this Agreement relied upon, (ii) setting forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of Executive’s employment under the provision so indicated, if applicable, and
(iii) specifying a Date of Termination which, except in the case of a termination pursuant to Section 3(a)(iii), shall
be at least thirty (30) days following the date of such notice (a “Notice of Termination”); provided
that the Company may, in its sole discretion, instruct Executive to remain off the Company’s premises and perform no Company
functions from the date of such Notice of Termination through the Date of Termination, but only to the extent that the Company
pays Executive full compensation and benefits during such period. The failure by the Company or Executive to set forth in the
Notice of Termination any fact or circumstance which contributes to a showing of Cause or Good Reason shall not waive any right
of such Party hereunder or preclude such Party from asserting such fact or circumstance in enforcing such Party’s rights
hereunder.

 

    	 	3	 

     

    

 

(c)          Company
Obligations upon Termination. Upon termination of Executive’s employment pursuant to any of the circumstances listed
in Section 3, Executive (or Executive’s estate) shall be entitled to receive the sum of: (i) the portion of
Executive’s Annual Base Salary earned through the Date of Termination, but not yet paid to Executive; (ii) any vacation
time that has been accrued but unused in accordance with the Company’s Policies; (iii) any reimbursements owed to Executive
pursuant to Section 2(f); (iv) except in the event Executive’s employment is terminated by the Company for Cause
pursuant to Section 3(a)(iii) or as a result of Executive’s resignation without Good Reason pursuant to Section 3(a)(vi),
all amounts contemplated pursuant to Section 2(b)(ii) that have not yet been paid to Executive; and (v) any amount accrued
and arising from Executive’s participation in, or benefits accrued under, any employee benefit plans, programs or arrangements,
which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans, programs or arrangements
(collectively, the “Company Arrangements”). Except as otherwise expressly required by law (e.g., COBRA),
as specifically provided herein, or with respect to any of Executive’s equity-related compensation (which, for the avoidance
of doubt, shall be governed by the terms and conditions of the applicable equity compensation plans and agreements), all of Executive’s
rights to salary, severance, benefits, bonuses and other compensatory amounts hereunder (if any) shall cease upon the termination
of Executive’s employment hereunder. In the event that Executive’s employment is terminated by the Company for any
reason, Executive’s sole and exclusive remedy shall be to receive the payments and benefits described in this Section
3(c) and Section 4, as applicable.

 

(d)          Deemed
Resignation. Upon termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from
all offices and directorships, if any, then held with the Company or any of its subsidiaries.

 

	4.	Severance Benefits.

 

(a)          If
Executive’s employment shall terminate as a result of any of the circumstances listed in Section 3, then Executive
shall not be entitled to any severance payments and benefits, except (i) as provided in Section 3(c) and (ii) if the Date
of Termination is on or after August 16, 2016 and Executive’s employment is not terminated by the Company for Cause pursuant
to Section 3(a)(iii) and Executive timely elects continued medical, dental or vision coverage under one or more of the Company’s
group medical, dental or vision plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), then,
subject to Executive signing on or before the 21st day following the Date of Termination, and not revoking during any
subsequent revocation period contained therein, a release of claims substantially in the form attached as Exhibit A to
this Agreement (the “Release”), and Executive’s continued compliance with Sections 6 and 7, in
addition to payments and benefits set forth in Section 3(c), the Company shall directly pay, or reimburse Executive for,
the COBRA premiums for Executive and Executive’s covered dependents under such plans during the period commencing on the
Date of Termination and ending 12-months following the Date of Termination. Notwithstanding the foregoing, if the Company determines
that it cannot provide the benefit required by this Section 4(a) without potentially violating applicable law (including
Section 2716 of the Public Health Service Act) or incurring an excise tax, the Company shall in lieu thereof provide to Executive
a monthly payment in an after-tax amount equal to the monthly COBRA premium that Executive would be required to pay to continue
Executive’s and Executive’s covered dependents’ group health coverage in effect on the Date of Termination,
which amount shall be based on the premium for the first month of COBRA coverage.

 

    	 	4	 

     

    

 

(b)          Notwithstanding
anything to the contrary in this Agreement, the provisions of Sections 4 through 10 and Section 12
will survive the termination of Executive’s employment and the expiration or termination of the Term.

 

	5.	Parachute Payments.

 

(a)          It
is the objective of this Agreement to maximize Executive’s net after-tax benefit if payments or benefits provided under
this Agreement are subject to excise tax under Section 4999 of the Internal Revenue Code of 1986, as amended, and the regulations
and guidance promulgated thereunder (the “Code”). Notwithstanding any other provisions of this Agreement, in
the event that any payment or benefit by the Company or otherwise to or for the benefit of Executive, whether paid or payable
or distributed or distributable pursuant to the terms of this Agreement or otherwise (all such payments and benefits, including
the payments and benefits under Section 4(a) hereof, being hereinafter referred to as the “Total Payments”),
would be subject (in whole or in part) to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”),
then the Total Payments shall be reduced to the extent necessary so that no portion of the Total Payments shall be subject to
the Excise Tax, but only if (i) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of
federal, state and local income and employment taxes on such reduced Total Payments and after taking into account the phase out
of itemized deductions and personal exemptions attributable to such reduced Total Payments), is greater than or equal to (ii)
the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local
income and employment taxes on such Total Payments and the amount of the Excise Tax to which Executive would be subject in respect
of such unreduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable
to such unreduced Total Payments).

 

(b)          The
Total Payments shall be reduced by the Company in the following order: (i) reduction of any cash severance payments otherwise
payable to Executive that are exempt from Section 409A of the Code (“Section 409A”), (ii) reduction of
any other cash payments or benefits otherwise payable to Executive that are exempt from Section 409A, but excluding any payments
attributable to the acceleration of vesting or payments with respect to any equity award with respect to the Company’s common
stock that is exempt from Section 409A, (iii) reduction of any other payments or benefits otherwise payable to Executive on a
pro-rata basis or such other manner that complies with Section 409A, but excluding any payments attributable to the acceleration
of vesting and payments with respect to any equity award with respect to the Company’s common stock that are exempt from
Section 409A, and (iv) reduction of any payments attributable to the acceleration of vesting or payments with respect
to any other equity award with respect to the Company’s common stock that are exempt from Section 409A.

 

(c)          All
determinations regarding the application of this Section 5 shall be made by an accounting firm with experience in performing
calculations regarding the applicability of Section 280G of the Code and the Excise Tax selected by the Company and acceptable
to Executive (“Independent Advisors”), a copy of which report and all worksheets and background materials relating
thereto shall be provided to Executive. For purposes of determining whether and the extent to which the Total Payments will be
subject to the Excise Tax, (i) no portion of the Total Payments the receipt or enjoyment of which Executive shall have waived
at such time and in such manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code
shall be taken into account; (ii) no portion of the Total Payments shall be taken into account which, in the opinion of the Independent
Advisors, does not constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code (including
by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the Excise Tax, no portion of such Total Payments shall be
taken into account which, in the opinion of Independent Advisors, constitutes reasonable compensation for services actually rendered,
within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the “base amount” (as defined in Section 280G(b)(3)
of the Code) allocable to such reasonable compensation; and (iii) the value of any non-cash benefit or any deferred payment or
benefit included in the Total Payments shall be determined by the Independent Advisors in accordance with the principles of Sections
280G(d)(3) and (4) of the Code. The costs of obtaining such determination and all related fees and expenses (including related
fees and expenses incurred in any later audit) shall be borne solely by the Company.

 

    	 	5	 

     

    

 

6.           Competition;
Non-disparagement. Executive acknowledges that Executive has been provided with Confidential
Information (as defined below) and, during the Term, the Company from time to time will provide Executive with access to Confidential
Information. Ancillary to the rights provided to Executive as set forth in this Agreement and the Company’s provision of
Confidential Information, and Executive’s agreements regarding the use of same, in order to protect the value of any Confidential
Information, the Company and Executive agree to the following provisions against unfair competition, which Executive acknowledges
represent a fair balance of the Company’s rights to protect its business and Executive’s right to pursue employment:

 

(a)          Executive
shall not, at any time during the Restriction Period (as defined below), directly or indirectly engage in, have any equity interest
in, interview for a potential employment or consulting relationship with or manage, provide services to or operate any person,
firm, corporation, partnership or business (whether as director, officer, employee, agent, representative, partner, security holder,
consultant or otherwise) that engages in any business which directly competes with any portion of the Business (as defined below)
anywhere in the world. Nothing herein shall prevent Executive from engaging in any activity with a non-competitive division of
an entity engaged in a business that competes with the Company; provided that none of Executive’s activities in respect
of such non-competitive division would reasonably be expected to cause Executive to otherwise breach his obligations under this
Section 6 in respect of the entity engaged in a business that competes with the Company. In addition, nothing herein shall
prohibit Executive from being a passive owner of not more than 5% of the outstanding equity interest in any entity that is publicly
traded, so long as Executive has no active participation in the business of such entity.

 

(b)          Except
in furtherance of his duties hereunder during the Term, Executive shall not, at any time during the Restriction Period, directly
or indirectly, (i) solicit any customers, clients or suppliers of the Company or (ii) solicit, with respect to hiring, any employee
or independent contractor of the Company or any person employed or engaged by the Company at any time during the 12-month period
immediately preceding the Date of Termination.

 

(c)          In
the event the terms of this Section 6 shall be determined by any court of competent jurisdiction to be unenforceable by
reason of its extending for too great a period of time or over too great a geographical area or by reason of its being too extensive
in any other respect, it will be interpreted to extend only over the maximum period of time for which it may be enforceable, over
the maximum geographical area as to which it may be enforceable, or to the maximum extent in all other respects as to which it
may be enforceable, all as determined by such court in such action.

 

(d)          As
used in this Section 6, (i) the term “Company” shall include the Company and its direct and indirect
subsidiaries; (ii) the term “Business” shall mean the business of the Company, as such business is conducted
as of the Effective Date or may be expanded or altered by the Company during the Term, in any case that represents more than 10%
of the Company’s gross annual revenues, and shall include any type of marine-based expeditions; and (iii) the term “Restriction
Period” shall mean the period during which Executive is employed by the Company and ending on the date 24 months following
the Date of Termination.

 

    	 	6	 

     

    

 

(e)          Each
Party to this Agreement (which, in the case of the Company, shall include its officers and the members of the Board) agrees, during
the Term and thereafter, to refrain from Disparaging (as defined below) the other Party and its affiliates. Nothing in this paragraph
shall preclude any Party from making truthful statements that are reasonably necessary to comply with applicable law, regulation
or legal process, or to defend or enforce a Party’s rights under this Agreement. For purposes of this Agreement, “Disparaging”
means making remarks, comments or statements, whether written or oral, that impugn the character, integrity, reputation or abilities
of the person or entity being disparaged.

 

	7.	Nondisclosure of Proprietary Information.

 

(a)          Except
in connection with the faithful performance of Executive’s duties hereunder or pursuant to Section 7(c) or (e), Executive
shall, in perpetuity, maintain in confidence and shall not directly, indirectly or otherwise, use, disseminate, disclose or publish,
or use for Executive’s benefit or the benefit of any person, firm, corporation or other entity (other than the Company)
any confidential or proprietary information or trade secrets of or relating to the Company (including business plans, business
strategies and methods, acquisition targets, intellectual property in the form of patents, trademarks and copyrights and applications
therefor, ideas, inventions, works, discoveries, improvements, information, documents, formulae, practices, processes, methods,
developments, source code, modifications, technology, techniques, data, programs, other know-how or materials, owned, developed
or possessed by the Company, whether in tangible or intangible form, information with respect to the Company’s operations,
processes, products, inventions, business practices, finances, principals, vendors, suppliers, customers, potential customers,
marketing methods, costs, prices, contractual relationships, regulatory status, prospects and compensation paid to employees or
other terms of employment) (collectively, the “Confidential Information”), or deliver to any person, firm,
corporation or other entity any document, record, notebook, computer program or similar repository of or containing any such Confidential
Information. The Parties hereby stipulate and agree that, as between them, any item of Confidential Information is important,
material and confidential and affects the successful conduct of the businesses of the Company (and any successor or assignee of
the Company). Notwithstanding the foregoing, Confidential Information shall not include any information that has been published
in a form generally available to the public or is publicly available or has become public knowledge prior to the date Executive
proposes to disclose or use such information, provided that such publishing or public availability or knowledge of the
Confidential Information shall not have resulted from Executive directly or indirectly breaching Executive’s obligations
under this Section 7(a) or any other similar provision by which Executive is bound, or from any third-party known by Executive
to be breaching a provision similar to that found under this Section 7(a). For the purposes of the previous sentence, Confidential
Information will not be deemed to have been published or otherwise disclosed merely because individual portions of the information
have been separately published, but only if material features comprising such information have been published or become publicly
available.

 

(b)          Upon
termination of Executive’s employment with the Company for any reason, Executive will promptly deliver to the Company all
correspondence, drawings, manuals, letters, notes, notebooks, reports, programs, plans, proposals, financial documents, or any
other documents or property concerning the Company’s customers, business plans, marketing strategies, products, property
or processes, provided that Executive may retain his compensation-related information, personal journal and rolodex, address
book, appointment book, calendar and/or contact list.

 

(c)          Notwithstanding
Section 7(a), Executive may respond to a lawful and valid subpoena or other legal process but shall give the Company the
earliest practicable notice thereof, shall, as much in advance of the return date as practicable, make available to the Company
and its counsel the documents and other information sought and shall assist such counsel at Company’s sole expense in resisting
or otherwise responding to such process, in each case to the extent permitted by applicable laws or rules.

 

    	 	7	 

     

    

 

(d)          As
used in this Section 7 and Section 8, the term “Company” shall include the Company and its direct
and indirect subsidiaries.

 

(e)          Nothing
in this Agreement shall prohibit Executive from (i) disclosing information and documents when required by law, subpoena or court
order (subject to the requirements of Section 7(c) above), (ii) disclosing information and documents to Executive’s
attorney, financial or tax adviser for the purpose of securing legal, financial or tax advice, (iii) disclosing Executive’s
post-employment restrictions in this Agreement in confidence to any potential new employer, or (iv) retaining, at any time, Executive’s
personal correspondence, Executive’s personal contacts and documents related to Executive’s own personal benefits,
entitlements and obligations.

 

	8.	Inventions. 

 

All
rights to discoveries, inventions, improvements and innovations (including all data and records pertaining thereto) related to
the business of the Company, whether or not patentable, copyrightable, registrable as a trademark, or reduced to writing, that
Executive may discover, invent or originate during Executive’s period of service with the Company or its subsidiaries or
its or their predecessors, either alone or with others and whether or not during working hours or by the use of the facilities
of the Company (“Inventions”), shall be the exclusive property of the Company. Executive shall promptly disclose
all Inventions to the Company, shall execute at the request of the Company any assignments or other documents the Company may
deem reasonably necessary to protect or perfect its rights therein, and shall assist the Company, upon reasonable request and
in all instances at the Company’s sole expense, in obtaining, defending and enforcing the Company’s rights therein.
Executive hereby appoints the Company as Executive’s attorney-in-fact to execute on Executive’s behalf any assignments
or other documents reasonably deemed necessary by the Company to protect or perfect its rights to any Inventions.

 

	9.	Injunctive Relief.

 

It
is recognized and acknowledged by Executive that a breach of the covenants contained in Sections 6, 7 and 8 could cause
irreparable damage to Company and its goodwill, the exact amount of which may be difficult or impossible to ascertain, and that
the remedies at law for any such breach may be inadequate. Accordingly, Executive agrees that in the event of a breach of any
of the covenants contained in Sections 6, 7 and 8, in addition to any other remedy which may be available at law or in
equity, the Company will be entitled to seek specific performance and injunctive relief without the requirement to post bond.

 

	10.	Assignment and Successors.

 

None
of the Company’s rights or obligations may be assigned or transferred by the Company, except that the Company shall assign
its rights and obligations under this Agreement to any successor to all or substantially all of the business or the assets of
the Company (by merger or otherwise). This Agreement shall be binding upon and inure to the benefit of the Company, Executive
and their respective successors, assigns, legal representatives, executors, administrators, heirs, distributees, devisees, and
legatees, as applicable. None of Executive’s rights or obligations may be assigned or transferred by Executive, other than
Executive’s rights to payments hereunder, which may be transferred only by will or operation of law. Notwithstanding the
foregoing, Executive shall be entitled, to the extent permitted under applicable law and applicable Company Arrangements, to select
and change a beneficiary or beneficiaries to receive compensation hereunder following Executive’s death by giving written
notice thereof to the Company.

 

    	 	8	 

     

    

 

	11.	Certain Definitions.

 

(a)          Cause.
The Company shall have “Cause” to terminate Executive’s employment hereunder upon Executive’s:

 

(i)          willful
misconduct and mismanagement by Executive that is materially injurious to the Company;

 

(ii)         refusal
in any material respect to carry out or comply with any lawful and reasonable written directive of the Board consistent with the
terms of this Agreement;

 

(iii)        conviction,
plea of no contest, or plea of nolo contendere for any felony;

 

(iv)        unlawful
use (including being under the influence) or possession of illegal drugs on the Company’s (or any of its subsidiaries’)
premises while performing Executive’s duties and responsibilities under this Agreement;

 

(v)         commission
of an act of fraud, embezzlement, willful misappropriation, willful misconduct, or breach of fiduciary duty, in any case that
results in material harm to the Company or any of its affiliates;

 

(vi)        material
violation of any provision of this Agreement or a material Policy; or

 

(vii)       willful
or prolonged, and unexcused, absence from work (other than by reason of Executive’s Disability).

 

For
purposes of this definition, an action or inaction is only “willful” if it is done or omitted by Executive without
a good faith belief that such action or inaction is in the best interests of the Company.

 

Notwithstanding
the foregoing, no termination for Cause will have occurred unless and until the Company has: (a) provided Executive, within thirty
(30) days of the Company first becoming aware of the facts or circumstances constituting Cause, written-notice stating with specificity
the applicable facts and circumstances underlying such finding of Cause; and (b) provided Executive with an opportunity to
cure the same within thirty (30) days after the receipt of such notice. Any termination for Cause must occur within ninety (90)
days of the Company first becoming aware of the facts or circumstances constituting Cause.

 

(b)          Date
of Termination. “Date of Termination” shall mean (i) if Executive’s employment is terminated by Executive’s
death, the date of Executive’s death; and (ii) if Executive’s employment is terminated pursuant to Section 3(a)(ii)
– (vi), the date indicated in the Notice of Termination.

 

(c)          Disability.
“Disability” shall mean Executive’s inability to perform, with or without reasonable accommodation, the
essential functions of Executive’s position hereunder for a total of one hundred and eighty (180) days during any three
hundred and sixty five (365) day period as a result of incapacity due to mental or physical illness as determined by a physician
selected by the Company or its insurers, and acceptable to Executive or Executive’s legal representative, with such agreement
as to acceptability not to be unreasonably withheld, delayed or conditioned. Any refusal by Executive to submit to a reasonable
medical examination at the Company’s sole expense for the purpose of determining Disability shall be deemed to constitute
conclusive evidence of Executive’s Disability.

 

    	 	9	 

     

    

 

(d)          Good
Reason. Executive’s resignation will be for “Good Reason” if Executive resigns following the occurrence
of any of the following events: (i) a decrease in Executive’s Annual Base Salary (from the highest level in effect
during the Term); (ii) a material diminution in Executive’s authority, duties or responsibilities; (iii) a requirement
that Executive report to other than the Chief Executive Officer of the Company and the Board; (iv) a relocation of the location
at which Executive is required primarily to perform his services for the Company outside the Borough of Manhattan within the City
of New York; or (v) any other action or inaction that constitutes a material breach by the Company of this Agreement. Notwithstanding
the foregoing, no Good Reason will have occurred unless and until Executive has: (a) provided the Company, within ninety (90)
days of Executive’s first knowledge of the occurrence of the facts and circumstances underlying the Good Reason event, written-notice
stating with specificity the applicable facts and circumstances underlying such finding of Good Reason; and (b) provided
the Company with an opportunity to cure the same within thirty (30) days after the receipt of such notice.

 

	12.	Miscellaneous Provisions.

 

(a)          Governing
Law. This Agreement shall be governed, construed, interpreted and enforced in accordance with its express terms, and otherwise
in accordance with the substantive laws of the State of New York without reference to the principles of conflicts of law of the
State of New York or any other jurisdiction, and where applicable, the laws of the United States. Any suit brought hereon shall
be brought in the state or federal courts sitting in the Borough of Manhattan within the City of New York, the Parties hereby
waiving any claim or defense that such forum is not convenient or proper. Each Party hereby agrees that any such court shall have
in personam jurisdiction over it and consents to service of process in any manner authorized by New York law.

 

(b)          Validity.
The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, which shall remain in full force and effect.

 

(c)          Notices.
Any notice, request, claim, demand, document and other communication hereunder to any Party shall be effective upon receipt (or
refusal of receipt) and shall be in writing and delivered personally or sent by facsimile or certified or registered mail, postage
prepaid, as follows:

 

		(i)	If
                                         to the Company, the Chief Executive Officer or the General Counsel at its headquarters,

  

and
copies to:

  

Latham
& Watkins LLP

555
Eleventh Street, N.W.

Washington,
DC 20004

Attention:
Paul Sheridan and Adam Kestenbaum

 

	 	(ii)	If to Executive, at the last address that the Company
has in its personnel records for Executive.
	 	 	 
	 	(iii)	At any other address as any Party shall have specified
by notice in writing to the other Party.

 

    	 	10	 

     

    

 

(d)          Counterparts.
This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, but all of which together
will constitute one and the same Agreement. Signatures delivered by facsimile or email shall be deemed effective for all purposes.

 

(e)          Entire
Agreement. The terms of this Agreement are intended by the Parties to be the final expression of their agreement with respect
to the subject matter hereof and supersede all prior understandings and agreements, whether written or oral, including the Prior
Employment Agreement. The Parties further intend that this Agreement shall constitute the complete and exclusive statement of
their terms and that no extrinsic evidence whatsoever may be introduced in any judicial, administrative, or other legal proceeding
to vary the terms of this Agreement.

 

(f)          Certain
Indemnity Rights; D&O Coverage. During and after the Term, the Company shall (i) provide Executive with directors’
and officers’ liability insurance coverage at least as favorable as that applicable to any then-current chief executive
officer of the Company, and (ii) indemnify Executive and his legal representatives to the fullest extent permitted by the
laws of the State of Delaware against all damages, costs, expenses and other liabilities reasonably incurred or sustained by Executive
or his legal representatives in connection with any suit, action or proceeding to which Executive or his legal representatives
may be made a party by reason of Executive being or having been a director or officer of the Company or any of its subsidiaries,
or having served in any other capacity or taken any other action purportedly on behalf of or at the request of the Company or
any of its subsidiaries.

 

(g)          Amendments;
Waivers. This Agreement may not be modified, amended, or terminated except by an instrument in writing, signed by Executive
and a duly authorized representative of the Company. By an instrument in writing similarly executed, Executive or a duly authorized
representative of the Company may waive compliance by the other Party with any specifically identified provision of this Agreement
that such other Party was or is obligated to comply with or perform; provided that such waiver shall not operate as a waiver
of, or estoppel with respect to, any other or subsequent failure. No failure to exercise and no delay in exercising any right,
remedy, or power hereunder shall preclude any other or further exercise of any other right, remedy, or power provided herein or
by law or in equity.

 

(h)          No
Inconsistent Actions. The Parties hereto shall not voluntarily undertake or fail to undertake any action or course of action
inconsistent with the provisions or essential intent of this Agreement. Furthermore, it is the intent of the Parties hereto to
act in a fair and reasonable manner with respect to the interpretation and application of the provisions of this Agreement.

 

(i)          Construction.
This Agreement shall be deemed drafted equally by both Parties. Its language shall be construed as a whole and according to its
fair meaning. Any presumption or principle that the language is to be construed against any Party shall not apply. The headings
in this Agreement are only for convenience and are not intended to affect construction or interpretation. Any references to paragraphs,
subparagraphs, sections or subsections are to those parts of this Agreement, unless the context clearly indicates to the contrary.
Also, unless the context clearly indicates to the contrary, (a) the plural includes the singular and the singular includes the
plural; (b) “any,” “all,” “each,” or “every” means “any and all,”
and “each and every”; (c) “includes” and “including” are each “without limitation”;
(d) “herein,” “hereof,” “hereunder” and other similar compounds of the word “here”
refer to the entire Agreement and not to any particular paragraph, subparagraph, section or subsection; and (e) all pronouns and
any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the
entities or persons referred to may require.

 

    	 	11	 

     

    

 

(j)          Arbitration.
Any controversy, claim or dispute arising out of or relating to this Agreement shall be settled solely and exclusively by a binding
arbitration process administered by JAMS/Endispute in New York, New York. Such arbitration shall be conducted in accordance with
the then-existing JAMS/Endispute Rules of Practice and Procedure, with the following exceptions if in conflict: (a) one arbitrator
who is a retired judge shall be chosen by JAMS/Endispute; (b) the Company will pay the expenses and fees of the arbitrator, together
with other expenses of the arbitration incurred or approved by the arbitrator; and (c) arbitration may proceed in the absence
of any Party if written notice (pursuant to the JAMS/Endispute rules and regulations) of the proceedings has been given to such
Party. Each Party shall bear its own attorney’s fees and expenses. The arbitrator may assess the prevailing Party’s
fees and costs against the non-prevailing Party as part of the arbitrator’s award and shall in all events award Executive
his reasonable fees and costs (including the reasonable fees and expenses of his counsel) if Executive prevails on one or more
substantive issues in the arbitration. The Parties agree to abide by all decisions and awards rendered in such proceedings. Such
decisions and awards rendered by the arbitrator shall be final and conclusive. All such controversies, claims or disputes shall
be settled in this manner in lieu of any action at law or equity; provided that nothing in this subsection shall be construed
as precluding the bringing an action for injunctive relief or specific performance as provided in this Agreement. This dispute
resolution process and any arbitration hereunder shall be confidential and neither any Party nor the neutral arbitrator shall
disclose the existence, contents or results of such process without the prior written consent of all Parties, except where necessary
or compelled in a court to enforce this arbitration provision or an award from such arbitration or otherwise in a legal proceeding.
If JAMS/Endispute no longer exists or is otherwise unavailable, the Parties agree that the American Arbitration Association (“AAA”)
shall administer the arbitration in accordance with its then-existing rules as modified by this subsection. In such event, all
references herein to JAMS/Endispute shall mean AAA. Notwithstanding the foregoing, Executive and the Company each have the right
to resolve any issue or dispute over intellectual property rights by court action instead of arbitration.

 

(k)          Enforcement.
If any provision of this Agreement is held to be illegal, invalid or unenforceable under present or future laws effective during
the Term, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid
or unenforceable provision had never comprised a portion of this Agreement; and the remaining provisions of this Agreement shall
remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance
from this Agreement. Furthermore, in lieu of such illegal, invalid or unenforceable provision there shall be added automatically
as part of this Agreement a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible
and be legal, valid and enforceable, provided that the economic benefit to any Party is not diminished by such replacement.

 

(l)          Withholding.
The Company shall be entitled to withhold from any amounts payable under this Agreement any federal, state, local or foreign withholding
or other taxes or charges which the Company is required to withhold.

 

(m)        Section
409A.

 

(i)           General.
The intent of the Parties is that the payments and benefits under this Agreement comply with or be exempt from Section 409A
and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith.

 

(ii)          Separation
from Service. Notwithstanding anything in this Agreement to the contrary, any compensation or benefits payable under this
Agreement that is considered nonqualified deferred compensation under Section 409A and is designated under this Agreement as payable
upon Executive’s termination of employment shall be payable only upon Executive’s “separation from service”
with the Company within the meaning of Section 409A (a “Separation from Service”) and, except as provided below,
any such compensation or benefits described in Section 4(a) shall not be paid, or, in the case of installments, shall not
commence payment, until the thirtieth (30th) day following Executive’s Separation from Service (the “First Payment
Date”). Any installment payments that would have been made to Executive during the thirty (30) day period immediately
following Executive’s Separation from Service but for the preceding sentence shall be paid to Executive on the First Payment
Date and the remaining payments shall be made as provided in this Agreement.

 

    	 	12	 

     

    

 

(iii)         Specified
Employee. Notwithstanding anything in this Agreement to the contrary, if Executive is deemed by the Company at the time of
Executive’s Separation from Service to be a “specified employee” for purposes of Section 409A, to the extent
delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement is required in order to
avoid a prohibited distribution under Section 409A, such portion of Executive’s benefits shall not be provided to Executive
prior to the earlier of (A) the expiration of the six-month period measured from the date of Executive’s Separation
from Service with the Company or (B) the date of Executive’s death. Upon the first business day following the expiration
of the applicable Section 409A delay period, all payments deferred pursuant to the preceding sentence shall be paid in a lump
sum to Executive (or Executive’s estate or beneficiaries), and any remaining payments due to Executive under this Agreement
shall be paid as otherwise provided herein.

 

(iv)         Expense
Reimbursements. To the extent that any reimbursements under this Agreement are subject to Section 409A, (A) any such reimbursements
payable to Executive shall be paid to Executive no later than December 31 of the year following the year in which the expense
was incurred, provided that Executive submits Executive’s reimbursement request promptly following the date the expense
is incurred, (B) the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent
year, other than medical expenses referred to in Section 105(b) of the Code, and (C) Executive’s right to reimbursement
under this Agreement will not be subject to liquidation or exchange for another benefit.

 

(v)          Installments.
Executive’s right to receive any installment payments under this Agreement, including any salary continuation payments
that are payable on Company payroll dates, shall be treated as a right to receive a series of separate payments and, accordingly,
each such installment payment shall at all times be considered a separate and distinct payment as permitted under Section 409A.
Except as otherwise permitted under Section 409A, no payment hereunder shall be accelerated or deferred unless such acceleration
or deferral would not result in additional tax, interest or penalties pursuant to Section 409A.

 

13.          Executive
Acknowledgement.

 

Executive
acknowledges that Executive has read and understands this Agreement, is fully aware of its legal effect, has not acted in reliance
upon any representations or promises made by the Company other than those contained in writing herein, and has entered into this
Agreement freely based on Executive’s own judgment.

 

[Signature
Page Follows]

 

    	 	13	 

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement on the date and year first above written.

 

	 	COMPANY
	 	 	 
	 	By:	/s/
    Sven-Olof Lindblad
	 	Name:	Sven-Olof
    Lindblad
	 	Title:	Chief
    Executive Officer & President
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	By:	/s/
    John T. McClain
	 	 	John
    T. McClain

 

[Signature
Page to Amended and Restated Employment Agreement]

 

     

     

    

 

EXHIBIT
A

 

Separation
Agreement and Release

 

          This
Separation Agreement and Release (this “Agreement”) is made by and between John T. McClain (“Executive”)
and Lindblad Expeditions Holdings, Inc. (the “Company”) (collectively, referred to as the “Parties”
or individually referred to as a “Party”). Capitalized terms used but not defined in this Agreement shall have
the meanings set forth in the Employment Agreement (as defined below).

 

          WHEREAS,
the Parties have previously entered into that certain Amended and Restated Employment Agreement, dated as of __________, 2016
(the “Employment Agreement”); and

 

          WHEREAS,
in connection with Executive’s termination of employment with the Company effective ________, 20__, the Parties wish to
resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that Executive may have
against the Company and any of the Releasees, as defined below, including, but not limited to, any and all claims arising out
of or in any way related to Executive’s employment with or separation from the Company or its subsidiaries or affiliates,
but, for the avoidance of doubt, nothing herein will be deemed to release any rights or remedies in connection with (i) Executive’s
ownership of vested equity securities, (ii) Executive’s right to indemnification or directors’ and officers’
liability insurance pursuant to contract or applicable law or, (iii) Executive’s rights under this Agreement or under the
Employment Agreement that expressly survive by its terms ((i) through (iii), collectively, the “Retained Claims”).

 

          NOW,
THEREFORE, in consideration of the severance payments and benefits described in Section 4(a) of the Employment Agreement, which,
pursuant to the Employment Agreement, are conditioned on Executive’s execution and non-revocation of this Agreement, and
in consideration of the mutual promises made herein, the Company and Executive hereby agree as follows:

 

1.          Severance
Payments; Salary and Benefits. The Company agrees to provide Executive with the severance payments and benefits described
in Section 4(a) of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the
Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement,
the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of the Employment Agreement,
subject to and in accordance with the terms thereof.

 

2.          Release
of Claims. Executive agrees that, other than with respect to the Retained Claims, the foregoing consideration represents settlement
in full of all outstanding obligations owed to Executive by the Company, any of its direct or indirect subsidiaries and any of
their current and former officers, directors, equity holders, managers, employees, agents, investors, attorneys, shareholders,
administrators, benefit plans, plan administrators, insurers, trustees, divisions, and subsidiaries and predecessor and successor
corporations and assigns (collectively, the “Releasees”). Executive, on his own behalf and on behalf of any
of Executive’s heirs, family members, executors, agents, and assigns, other than with respect to the Retained Claims, hereby
and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute, or pursue,
any claim, complaint, charge, duty, obligation, or cause of action relating to any matters of any kind, whether presently known
or unknown, suspected or unsuspected, that Executive may possess against any of the Releasees arising from any omissions, acts,
facts, or damages that have occurred up until and including the date Executive signs this Agreement, including, without limitation:

 

(a)          any
and all claims relating to or arising from Executive’s employment or service relationship with the Company or any of its
direct or indirect subsidiaries and the termination of that relationship;

 

    	 	A-1	 

     

    

 

(b)          any
and all claims relating to, or arising from, Executive’s right to purchase, or actual purchase of any shares of stock or
other equity interests of the Company or any of its subsidiaries, including, without limitation, any claims for fraud, misrepresentation,
breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal
law;

 

(c)          any
and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment; retaliation;
breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory
estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent
or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander;
negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability benefits;

 

(d)          any
and all claims for violation of any federal, state, or municipal statute, including, but not limited to, Title VII of the Civil
Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990;
the Equal Pay Act; the Fair Credit Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit
Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the
Family and Medical Leave Act; and the Sarbanes-Oxley Act of 2002;

 

(e)          any
and all claims for violation of the federal or any state constitution; and

 

(f)           any
and all claims arising out of any other laws and regulations relating to employment or employment discrimination.

 

Executive
agrees that the release set forth in this section shall be and remain in effect in all respects as a complete general release
as to the matters released. This release does not release claims that cannot be released as a matter of law, including, but not
limited to, Executive’s right to file a charge with or participate in a charge by the Equal Employment Opportunity Commission,
or any other local, state, or federal administrative body or government agency that is authorized to enforce or administer laws
related to employment, against the Company (with the understanding that Executive’s release of claims herein bars Executive
from recovering such monetary relief from the Company or any Releasee), claims for unemployment compensation or any state disability
insurance benefits pursuant to the terms of applicable state law, claims to continued participation in certain of the Company’s
group benefit plans pursuant to the terms and conditions of COBRA, claims to any benefit entitlements vested as the date of separation
of Executive’s employment, pursuant to written terms of any employee benefit plan of the Company or its affiliates and Executive’s
right under applicable law and any Retained Claims. This release further does not release claims for breach of Section 3(c), or
Section 4(a) of the Employment Agreement or any rights you may have in your capacity as an equityholder in the Company.

 

    	 	A-2	 

     

    

 

3.          Acknowledgment
of Waiver of Claims under ADEA. Executive understands and acknowledges that Executive is waiving and releasing any rights
Executive may have under the Age Discrimination in Employment Act of 1967 (the “ADEA”), and that this waiver
and release is knowing and voluntary. Executive understands and agrees that this waiver and release does not apply to any rights
or claims that may arise under the ADEA after the Effective Date of this Agreement. Executive understands and acknowledges that
the consideration given for this waiver and release is in addition to anything of value to which Executive was already entitled.
Executive further understands and acknowledges that Executive has been advised by this writing that: (a) Executive should consult
with an attorney prior to executing this Agreement; (b) Executive has 21 days within which to consider this Agreement; (c) Executive
has 7 days following Executive’s execution of this Agreement to revoke this Agreement pursuant to written notice to the
Chief Executive Officer or General Counsel of the Company; (d) this Agreement shall not be effective until after the revocation
period has expired; and (e) nothing in this Agreement prevents or precludes Executive from challenging or seeking a determination
in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for
doing so, unless specifically authorized by federal law. In the event Executive signs this Agreement and returns it to the Company
in less than the 21 day period identified above, Executive hereby acknowledges that Executive has freely and voluntarily chosen
to waive the time period allotted for considering this Agreement.

 

4.          Severability.
In the event that any provision or any portion of any provision hereof or any surviving agreement made a part hereof becomes or
is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement shall continue
in full force and effect without said provision or portion of provision.

 

5.          No
Oral Modification. This Agreement may only be amended in a writing signed by Executive and a duly authorized officer of the
Company.

 

6.          Governing
Law; Notice; Counterparts; Dispute Resolution. This Agreement shall be subject to the provisions of Sections 12(a), (c), (d)
and (j) of the Employment Agreement.

 

7.          Effective
Date. If Executive has attained or is over the age of 40 as of the date of Executive’s termination of employment, then
Executive has seven days after Executive signs this Agreement to revoke it and this Agreement will become effective on the eighth
day after Executive signed this Agreement, so long as it has not been revoked by Executive before that date (the “Effective
Date”). If Executive has not attained the age of 40 as of the date of Executive’s termination of employment, then
the Effective Date shall be the date on which Executive signs this Agreement.

 

8.          Voluntary
Execution of Agreement. Executive understands and agrees that Executive executed this Agreement voluntarily, without any duress
or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing all of Executive’s
claims against the Company and any of the other Releasees to the extent set forth in this Agreement. Executive acknowledges that:
(a) Executive has read this Agreement; (b) Executive has not relied upon any representations or statements made by the Company
that are not specifically set forth in this Agreement; (c) Executive has been represented in the preparation, negotiation, and
execution of this Agreement by legal counsel of his own choice or has elected not to retain legal counsel; (d) Executive understands
the terms and consequences of this Agreement and of the releases it contains; and (e) Executive is fully aware of the legal and
binding effect of this Agreement.          

 

[Signature
Page Follows]

 

    	 	A-3	 

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.

 

	 	 	 	EXECUTIVE
	 	 	 	 
	Dated:	 	 	 
	 	 	 	John
    T. McClain
	 	 	 	 	 
	 	 	 	COMPANY
	 	 	 	 
	Dated:	 	 	By:	 
	 	 	 	Name:	 
	 	 	 	Title:	 

 

 

 A-4

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