Document:

Exhibit 10.7

 

TAX SHARING AGREEMENT

 

by and among

 

INTEL CORPORATION

 

and

 

MOBILEYE GLOBAL INC.

 

Dated

 

[    ], 2022

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Section 1.	Definitions	1
	 	 	 
	Section 2.	Preparation and Filing of Tax Returns	7
	2.01.	Intel’s Responsibility	7
	2.02.	Mobileye’s Responsibility	7
	2.03.	Agent	8
	2.04.	Manner of Tax Return Preparation	8
	 	 	 
	Section 3.	Liability for Taxes	9
	3.01.	Mobileye’s Liability for Taxes	9
	3.02.	Intel’s Liability for Taxes	9
	3.03.	Other Taxes, Refunds and Credits	9
	3.04.	Payment of Tax Liability	10
	3.05.	Computation	10
	 	 	 
	Section 4.	Deconsolidation Events	10
	4.01.	General	10
	4.02.	Continuing Covenants	10
	 	 	 
	Section 5.	Distribution Taxes	11
	5.01.	Liability for Distribution Taxes	11
	5.02.	Continuing Covenants	12
	 	 	 
	Section 6.	Indemnification	14
	6.01.	In General	14
	6.02.	Inaccurate or Incomplete Information	14
	6.03.	No Indemnification for Tax Items	14
	 	 	 
	Section 7.	Payments	15
	7.01.	Estimated Tax Payments	15
	7.02.	True-Up Payments	15
	7.03.	Redetermination Amounts	15
	7.04.	Payments of Refunds, Credits and Reimbursements	15
	7.05.	Payments Under This Agreement	15
	 	 	 
	Section 8.	Tax Proceedings	16
	8.01.	General	16
	8.02.	Notice	17
	8.03.	Control of Distribution Tax Proceedings	17
	 	 	 
	Section 9.	Miscellaneous Provisions	17
	9.01.	Effectiveness	17
	9.02.	Cooperation and Exchange of Information	18
	9.03.	Dispute Resolution	18

 

    	 	i	 

     

    

 

	9.04.	Notices	19
	9.05.	Changes in Law	19
	9.06.	Confidentiality	20
	9.07.	Successors	20
	9.08.	Affiliates	20
	9.09.	Authorization, Etc.	20
	9.10.	Entire Agreement	20
	9.11.	Applicable Law: Jurisdiction	21
	9.12.	Counterparts	21
	9.13.	Severability	21
	9.14.	No Third Party Beneficiaries	21
	9.15.	Waivers, Etc.	21
	9.16.	Setoff	21
	9.17.	Other Remedies	22
	9.18.	Amendment and Modification	22
	9.19.	Waiver of Jury Trial	22
	9.20.	Interpretations	22

 

    	 	ii	 

     

    

 

TAX SHARING AGREEMENT

 

THIS TAX SHARING AGREEMENT (this “Agreement”)
dated as of [   ], 2022, by and among Intel Corporation, a Delaware corporation (“Intel”), and Mobileye Global Inc.,
a Delaware corporation and an indirect, wholly-owned subsidiary of Intel (“Mobileye”), is entered into in connection
with the IPO (as defined below).

 

RECITALS

 

WHEREAS, as of the date hereof, Intel and
its direct and indirect domestic subsidiaries are members of a Consolidated Group (as defined below), of which Intel is the common parent;

 

WHEREAS, Intel indirectly owns all of the
issued and outstanding shares of Mobileye stock;

 

WHEREAS, Intel intends to effect the initial
public offering by Mobileye of Mobileye common stock that will reduce Intel’s ownership of Mobileye, on a fully diluted basis, to
not less than eighty percent (80%) of the value of Mobileye’s common stock (the “IPO”); and

 

WHEREAS, in contemplation of the IPO, the parties
hereto have determined to enter into this Agreement, setting forth their agreement with respect to certain tax matters.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the mutual
covenants and agreements contained herein, the parties hereto hereby agree as follows:

 

Section 1.     Definitions.

 

As used in this Agreement, capitalized terms shall
have the following meanings (such meanings to be equally applicable to both the singular and the plural forms of the terms defined):

 

“After Tax Amount” means any
additional amount necessary to reflect the hypothetical Tax consequences of the receipt or accrual of any payment required to be made
under this Agreement (including payment of an additional amount or amounts hereunder and the effect of the deductions available for interest
paid or accrued and for Taxes such as state and local Income Taxes), determined by using the highest applicable statutory corporate Income
Tax rate (or rates, in the case of an item that affects more than one Tax) for the relevant taxable period (or portion thereof).

 

“Agreement” has the meaning
set forth in the preamble hereto.

 

“Acquired Entity” means any
of Cyclops Holdings Corporation, a Delaware corporation (formerly known as Cyclops Holdings, LLC, a Delaware limited liability company),
GG Acquisition Ltd, a corporation duly organized under the state of Israel, or Moovit App Global Ltd., a corporation duly organized under
the state of Israel.

 

     

     

    

 

“Audit” means any audit, assessment
of Taxes, other examination by any Taxing Authority, proceeding, or appeal of such a proceeding relating to Taxes, whether administrative
or judicial, including proceedings relating to competent authority determinations.

 

“Business Day” means any day
that is not a Saturday, a Sunday or any other day on which commercial banks in Santa Clara, California, are required or authorized by
law to be closed.

 

“Code” means the Internal Revenue
Code of 1986, as amended.

 

“Combined Return” means any
Tax Return, other than with respect to United States federal Income Taxes, filed on a consolidated, combined (including nexus combination,
worldwide combination, domestic combination, line of business combination or any other form of combination) or unitary basis wherein Mobileye
or one or more Mobileye Affiliates join in the filing of such Tax Return (for any taxable period or portion thereof) with Intel or one
or more Intel Affiliates.

 

“Consolidated Group” means an
affiliated group of corporations within the meaning of Section 1504(a) of the Code that files a consolidated return for United
States federal Income Tax purposes.

 

“Consolidated Return” means
any Tax Return with respect to United States federal Income Taxes filed on a consolidated basis wherein Mobileye or one or more Mobileye
Affiliates join in the filing of such Tax Return (for any taxable period or portion thereof) with Intel or one or more Intel Affiliates.

 

“Deconsolidation Event” means,
with respect to Mobileye and each Mobileye Affiliate, any event or transaction that causes Mobileye and/or one or more Mobileye Affiliates
to no longer be eligible to join with Intel or one or more Intel Affiliates in the filing of a Consolidated Return or a Combined Return.

 

“Distribution” means any distribution
by Intel of issued and outstanding shares of Mobileye stock (and securities, if any) that Intel holds at such time to Intel shareholders
and/or securityholders, and/or exchange by Intel of its issued and outstanding shares of Mobileye stock (and securities, if any) with
Intel shareholders and/or securityholders, in a transaction intended to qualify as a distribution under Section 355 of the Code.

 

“Distribution Taxes” means any
Taxes imposed on, or increase in Taxes incurred by, Intel or any Intel Affiliate (determined for these purposes without regard to
whether such Taxes are offset or reduced by any Tax Asset, Tax Item, or otherwise) resulting from, or arising in connection with, the
failure of a Distribution to qualify as a tax-free transaction under Section 355 of the Code (including any Tax resulting from the
application of Section 355(d) or Section 355(e) of the Code to a Distribution) or corresponding provisions of the
laws of any other jurisdictions. Any Income Tax referred to in the immediately preceding sentence shall be determined using the highest
applicable statutory corporate Income Tax rate for the relevant taxable period (or portion thereof).

 

    	 	2	 

     

    

 

“Estimated Tax Installment Date”
means, with respect to United States federal Income Taxes, the estimated Tax installment due dates prescribed in Section 6655(c) of
the Code and, in the case of any other Tax, means any other date on which an installment payment of an estimated amount of such Tax is
required to be made.

 

“Final Determination” shall
mean the final resolution of liability for any Tax for any taxable period, by or as a result of: (i) a final and unappealable decision,
judgment, decree or other order by any court of competent jurisdiction; (ii) a final settlement with the IRS, a closing agreement
or accepted offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the laws of other jurisdictions,
which resolves the entire Tax liability for any taxable period; (iii) any allowance of a refund or credit in respect of an overpayment
of Tax, but only after the expiration of all periods during which such refund may be recovered by the jurisdiction imposing the Tax; or
(iv) any other final disposition, including by reason of the expiration of the applicable statute of limitations.

 

“Income Tax” shall mean any
U.S. federal, state, local or non-U.S. Tax determined (in whole or in part) by reference to net income, gross receipts or capital, or
any Taxes imposed in lieu of such a tax. For the avoidance of doubt, the term “Income Tax” includes any franchise Tax or any
Taxes imposed in lieu of such a Tax.

 

“Income Tax Return” means any
Tax Return relating to any Income Tax.

 

“Independent Accountant” has
the meaning set forth in Section 2.04(b) of this Agreement.

 

“Dispute Firm” has the meaning
set forth in Section 9.03 of this Agreement.

 

“Intel” has the meaning set
forth in the preamble hereto.

 

“Intel Affiliate” means any
corporation or other entity directly or indirectly “controlled” by Intel where “control” means the ownership of
fifty percent (50%) or more of the ownership interests of such corporation or other entity (by vote or value) or the possession, directly
or indirectly, of the power to direct or cause the direction of the management or policies of such corporation or other entity, but at
all times excluding Mobileye or any Mobileye Affiliate.

 

“Intel Business” means all of
the businesses and operations conducted by Intel and Intel Affiliates, excluding the Mobileye Business, at any time, whether prior to
or after the IPO Date.

 

“Intel Group” means the Consolidated
Group, or similar group of entities as defined under corresponding provisions of the laws of other jurisdictions, of which Intel is the
common parent corporation, and any corporation or other entity which may be, may have been or may become a member of such group from time
to time, but excluding any member of the Mobileye Group.

 

“IPO” has the meaning set forth
in the recitals hereto.

 

“IPO Date” means the close of
business on the date which the IPO is effected.

 

    	 	3	 

     

    

 

“IRS” means the United States
Internal Revenue Service or any successor thereto, including its agents, representatives, and attorneys.

 

“Market Capitalization” means
an amount equal to (i) the total number of issued and outstanding common stock of the relevant party on the first Business Day following
the date of determination multiplied by (ii) the weighted average of the trading price of such stock on the first Business Day following
the date of determination.

 

“Mobileye” has the meaning set
forth in the preamble hereto.

 

“Mobileye Affiliate” means any
corporation or other entity directly or indirectly “controlled” by Mobileye at the time in question, where “control”
means the ownership of fifty percent (50%) or more of the ownership interests of such corporation or other entity (by vote or value) or
the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such corporation
or other entity.

 

“Mobileye Business” means the
business and operations conducted by Mobileye and Mobileye Affiliates as such business and operations will continue after the IPO Date.

 

“Mobileye Business Records”
has the meaning set forth in Section 9.02(b) of this Agreement.

 

“Mobileye Group” means the Consolidated
Group, or similar group of entities as defined under corresponding provisions of the laws of other jurisdictions, of which Mobileye will
be the common parent corporation immediately after a Deconsolidation Event and including any corporation or other entity which may become
a member of such group from time to time.

 

“Mobileye Separate Tax Liability”
means an amount (which shall not be less than zero) equal to any and all Income Taxes for a relevant Tax period with respect to or as
a result of, assets or activities of Mobileye and each Mobileye Affiliate, determined by calculating the amount of the excess (if any)
of (i) the amount of Taxes shown as due and payable on a Consolidated Return or a Combined Return including Mobileye and/or any Mobileye
Affiliate with respect to such relevant Tax period, as filed, over (ii) the amount of Taxes that would be shown as due and payable
on such Consolidated Return or Combined Return if such Consolidated Return or Combined Return were recalculated excluding Mobileye and/or
the Mobileye Affiliates, as may be relevant; provided that, to the extent such amount is determined with respect to a Pre-IPO Tax
Period, any Acquired Entity shall not be treated as a Mobileye Affiliate solely for purposes of this definition of Mobileye Separate Tax
Liability.

 

“Non-Income Tax Return” means
any Tax Return relating to any Tax other than an Income Tax.

 

“Officer’s Certificate”
means a letter executed by an officer of Intel or Mobileye and provided to Tax Counsel as a condition for the completion of a Tax Opinion
or Supplemental Tax Opinion.

 

“Option” means an option to
acquire common stock, or other equity-based incentives the economic value of which is designed to mirror that of an option, including
non-qualified stock options, discounted non-qualified stock options, cliff options to the extent stock is issued or issuable (as opposed
to cash compensation), and tandem stock options to the extent stock is issued or issuable (as opposed to cash compensation).

 

    	 	4	 

     

    

 

“Owed Party” has the meaning
set forth in Section 7.05 of this Agreement.

 

“Owing Party” has the meaning
set forth in Section 7.05 of this Agreement.

 

“Payment Period” has the meaning
set forth in Section 7.05(e) of this Agreement.

 

“Post-Deconsolidation Period”
means any taxable period beginning after the date of a Deconsolidation Event.

 

“Pre-Deconsolidation Period”
means any taxable period beginning on or before the date of a Deconsolidation Event.

 

“Pre-IPO Acquired Entity Taxes”
means, with respect to the referenced Taxes of an Acquired Entity, such Taxes of the Acquired Entity attributable to any Pre-IPO Tax Period.
For purposes of this Agreement, (i) in the case of Taxes based upon income, sales, proceeds, profits, receipts, wages, compensation
or similar items, the Taxes attributable to the portion of any Straddle Period that is a Pre-IPO Tax Period shall be determined as though
the applicable taxable year or period ended at the end of the day on the IPO Date based on an interim closing of the books, except that
exemptions, allowances or deductions that are calculated on an annual basis (including depreciation and amortization deductions) shall
be allocated on a per diem basis, and (ii) in the case of any other Taxes, the amount of such Taxes attributable to the portion of
any Straddle Period that is a Pre-IPO Tax Period shall equal the amount of such Tax for the entire taxable period multiplied by a fraction,
the numerator of which is the number of days in the taxable period up to and including the IPO Date, and the denominator of which is the
total number of days in such taxable period.

 

“Pre-IPO Tax Period” means any
Tax period or portion thereof that ends on or prior to the IPO Date, including the portion of any Straddle Period ending on the IPO Date.

 

“Ruling” means (i) any
private letter ruling issued by the IRS in connection with a Distribution in response to a request for such a private letter ruling filed
by Intel (or any Intel Affiliate) prior to the date of a Distribution, and (ii) any similar ruling issued by any other Taxing Authority
addressing the application of a provision of the laws of another jurisdiction to a Distribution.

 

“Ruling Documents” means (i) the
request for a Ruling filed with the IRS, together with any supplemental filings or other materials subsequently submitted on behalf of
Intel, its Subsidiaries and shareholders to the IRS, the appendices and exhibits thereto, and any Ruling issued by the IRS to Intel (or
any Intel Affiliate) in connection with a Distribution and (ii) any similar filings submitted to, or rulings issued by, any other
Taxing Authority in connection with a Distribution.

 

“Straddle Period” means any
Tax period that begins on or before the IPO Date and ends after the IPO Date.

 

    	 	5	 

     

    

 

“Supplemental Ruling” means
(i) any ruling (other than the Ruling) issued by the IRS in connection with a Distribution, and (ii) any similar ruling issued
by any other Taxing Authority addressing the application of a provision of the laws of another jurisdiction to a Distribution.

 

“Supplemental Ruling Documents”
means (i) the request for a Supplemental Ruling, together with any supplemental filings or other materials subsequently submitted,
the appendices and exhibits thereto, and any Supplemental Rulings issued by the IRS in connection with a Distribution and (ii) any
similar filings submitted to, or rulings issued by, any other Taxing Authority in connection with a Distribution.

 

“Supplemental Tax Opinion” has
the meaning set forth in Section 5.02(c) of this Agreement.

 

“Tax” means any tax of any kind,
including any U.S. federal, state, local or non-U.S. income, net income, gross income, corporation, profit, license, severance, occupation,
windfall profits, capital gains, capital stock, transfer, registration, social security, production, franchise, gross receipts, payroll,
sales, employment, unemployment, disability, use, property, excise, value added, estimated, stamp, alternative or add-on minimum, environmental,
withholding tax, and any other tax or similar governmental charge, duty or assessment, together with all interest and penalties and additions
thereto imposed with respect to such amounts, in each case whether disputed or not.

 

“Taxpayer” means any taxpayer
and its Consolidated Group or similar group of entities as defined under corresponding provisions of the laws of any other jurisdiction
of which a taxpayer is a member.

 

“Tax Asset” means any Tax Item
that has accrued for Tax purposes, but has not been realized during the taxable period in which it has accrued, and that could reduce
a Tax in another taxable period, including a net operating loss, net capital loss, a “disallowed business interest expense carryforward”
within the meaning of Section 163(j) of the Code, investment tax credit, foreign tax credit, charitable deduction or credit
related to alternative minimum tax or any other Tax credit.

 

“Tax Benefit” means a reduction
in the Tax liability (or increase in refund or credit or any item of deduction or expense) of a Taxpayer for any taxable period. Except
as otherwise provided in this Agreement, a Tax Benefit shall be deemed to have been realized or received from a Tax Item in a taxable
period only if and to the extent that the Tax liability of the Taxpayer for such period, after taking into account the effect of the Tax
Item on the Tax liability of such Taxpayer in the current period and all prior periods, is less than it would have been had such Tax liability
been determined without regard to such Tax Item.

 

“Tax Counsel” means a nationally
recognized law firm selected by Intel (or Mobileye, in the case of a Supplemental Tax Opinion) to provide a Tax Opinion.

 

“Tax Detriment” means an increase
in the Tax liability (or reduction in refund or credit or any item of deduction or expense) of a Taxpayer for any taxable period. Except
as otherwise provided in this Agreement, a Tax Detriment shall be deemed to have been realized or incurred from a Tax Item in a taxable
period only if and to the extent that the Tax liability of the Taxpayer for such period, after taking into account the effect of the Tax
Item on the Tax liability of such Taxpayer in the current period and all prior periods, is more than it would have been had such Tax liability
been determined without regard to such Tax Item.

 

    	 	6	 

     

    

 

“Tax Item” means any item of
income, gain, loss, deduction, expense or credit, or other attribute that may have the effect of increasing or decreasing any Tax.

 

“Tax Opinion” means an opinion
issued by Tax Counsel as one of the conditions to completing a Distribution addressing certain United States federal Income Tax consequences
of a Distribution under Section 355 of the Code.

 

“Tax
Return” means any return, declaration, report, election, claim for refund or information return or statement filed or required
to be filed with any Taxing Authority relating to Taxes, including any attachment and any amendment thereof.

 

“Taxing Authority” means any
governmental authority or any subdivision, agency, commission or authority thereof or any quasi-governmental or private body having jurisdiction
over the assessment, determination, collection or imposition of any Tax (including the IRS).

 

Section 2.     Preparation
and Filing of Tax Returns.

 

2.01.        Intel’s
Responsibility. Subject to the other applicable provisions of this Agreement, Intel shall have sole and exclusive responsibility
for the preparation and filing of:

 

(a)          all
Consolidated Returns and all Combined Returns for any taxable period;

 

(b)          all
Income Tax Returns (other than Consolidated Returns and Combined Returns) with respect to Intel and/or any Intel Affiliate for any taxable
period;

 

(c)          all
Income Tax Returns (other than Consolidated Returns and Combined Returns) with respect to Mobileye and/or any Mobileye Affiliate that
are required to be filed (taking into account any extension of time which has been requested or received) on or prior to the IPO Date;
and

 

(d)          all
Non-Income Tax Returns (i) with respect to Intel, any Intel Affiliate, or the Intel Business or any part thereof for any taxable
period and (ii) with respect to any Acquired Entity that are required to be filed (taking into account any extension of time which
has been requested or received) on or prior to the IPO Date.

 

2.02.        Mobileye’s
Responsibility. Subject to the other applicable provisions of this Agreement, Mobileye shall have sole and exclusive responsibility
for the preparation and filing of:

 

(a)          all
Income Tax Returns (other than Consolidated Returns and Combined Returns) with respect to Mobileye and/or any Mobileye Affiliate that
are required to be filed (taking into account any extension of time which has been requested or received) after the IPO Date; and

 

    	 	7	 

     

    

 

(b)          all
Non-Income Tax Returns with respect to Mobileye, any Mobileye Affiliate, or the Mobileye Business or any part thereof for any taxable
period (other than any Non-Income Tax Returns with respect to any Acquired Entity that are required to be filed (taking into account any
extension of time which has been requested or received) on or prior to the IPO Date).

 

2.03.        Agent.
Subject to the other applicable provisions of this Agreement, Mobileye hereby irrevocably designates, and agrees to cause each
Mobileye Affiliate to so designate, Intel as its sole and exclusive agent and attorney-in-fact to take such action (including
execution of documents) as Intel, in its sole discretion, may deem appropriate in any and all matters (including Audits)
relating to any Tax Return described in Section 2.01 of this Agreement.

 

2.04.        Manner
of Tax Return Preparation.

 

(a)          Unless
otherwise required by a Taxing Authority, the parties hereby agree to prepare and file all Tax Returns, and to take all other actions,
in a manner consistent with (1) this Agreement, (2) any Tax Opinion, (3) any Supplemental Tax Opinion, (4) any Ruling,
and (5) any Supplemental Ruling. All Tax Returns shall be filed on a timely basis (taking into account any applicable extensions)
by the party responsible for filing such returns under this Agreement.

 

(b)          With
respect to any Tax Return described in Section 2.01 of this Agreement, Intel shall have the exclusive right, in its sole discretion
to determine (1) the manner in which such Tax Return shall be prepared and filed, including (but not limited to) the elections, method
of accounting, positions, conventions and principles of taxation to be used and the manner in which any Tax Item shall be reported, (2) whether
any extensions shall be requested, (3) the elections that will be made by Intel, any Intel Affiliate, Mobileye, and/or any Mobileye
Affiliate on such Tax Return, including the inclusion (or lack thereof) of Mobileye and/or any Mobileye Affiliate in such Tax Return,
(4) whether any amended Tax Returns shall be filed, (5) whether any claims for refund shall be made, (6) whether any refunds
shall be paid by way of refund or credited against any liability for the related Tax, and (7) whether to retain outside firms to
prepare and/or review such Tax Returns; provided that (i) Intel shall consult with Mobileye prior to making any election on
any Tax Return or changing any method of accounting, position, convention, principle of taxation or manner in which any Tax Item is reported
if such election or such change could reasonably be expected to result in a material liability for which Mobileye would be responsible
under Section 3.01, and (ii) Intel shall not make any such election or make any such change without the prior consent of Mobileye
(not to be unreasonably withheld, conditioned or delayed) if such election or such change would solely impact Mobileye and/or the Mobileye
Affiliates (with no impact on Intel or any Intel Affiliate).

 

(c)          With
respect to any Tax Return described in Section 2.02 of this Agreement, Mobileye shall provide to Intel, at the request of
Intel, a draft of such Tax Return and copies of all worksheets and other materials used in preparation thereof for Intel’s
review and comment at least 30 days prior to the due date (with applicable extensions) for the filing of such Tax Return, and shall
incorporate any such comments provided by Intel in good faith to the extent that such comments could reasonably be expected to
impact any Tax liability of Intel or an Intel Affiliate. Intel shall provide its comments (if any) to Mobileye at least ten
(10) days prior to the due date (with applicable extensions) for the filing of such Tax Return. Notwithstanding anything in
this Section 2.04(c) to the contrary, Intel shall have no review and comment rights with respect to any Tax Returns
described in Section 2.02 from and after the date Intel owns less than 50% of the outstanding Mobileye stock by value; provided
that, to the extent any election made with respect to any such Tax Return could reasonably be expected to materially adversely
impact any Tax liability of Intel or an Intel Affiliate, the prior written consent of Intel shall be required for the filing of such
Tax Return (which consent shall not be unreasonably withheld, conditioned or delayed).

 

    	 	8	 

     

    

 

(d)          Information.
Mobileye shall timely provide, in accordance with Intel’s internal tax return calendar, which will be provided to Mobileye on a
rolling one-year schedule, all information necessary for Intel to prepare all Tax Returns and compute all estimated Tax payments (for
purposes of Section 7.01 of this Agreement).

 

Section 3.     Liability
for Taxes.

 

3.01.        Mobileye’s
Liability for Taxes. Mobileye shall be liable for the following Taxes, and shall be entitled to receive and retain all refunds and
credits of Taxes previously incurred by Mobileye, any Mobileye Affiliate, or the Mobileye Business with respect to such Taxes:

 

(a)          all
Taxes with respect to Tax Returns described in Section 2.01(a) of this Agreement to the extent that such Taxes are related to
the Mobileye Separate Tax Liability;

 

(b)          all
Taxes with respect to Tax Returns described in Section 2.01(c) of this Agreement (other than any Pre-IPO Acquired Entity Taxes);
and

 

(c)          all
Taxes with respect to Tax Returns described in Section 2.02 of this Agreement (other than any Pre-IPO Acquired Entity Taxes).

 

3.02.        Intel’s
Liability for Taxes. Intel shall be liable for the following Taxes, and shall be entitled to receive and retain all refunds and credits
of Taxes previously incurred by Intel, any Intel Affiliate, or the Intel Business with respect to such Taxes:

 

(a)          except
as provided in Section 3.01(a) of this Agreement, all Taxes with respect to Tax Returns described in Section 2.01(a) of
this Agreement; and

 

(b)          all
Taxes with respect to Tax Returns described in Sections 2.01(b) or 2.01(d) of this Agreement and, without duplication, any Pre-IPO
Acquired Entity Taxes.

 

3.03.        Other
Taxes, Refunds and Credits. To the extent of any Taxes that are not described in Sections 3.01 or 3.02, (i) Intel shall be liable
for all such Taxes incurred by any person with respect to the Intel Business for all periods and shall be entitled to all refunds and
credits of Taxes previously incurred by any person with respect to such Taxes, and (ii) Mobileye shall be liable for all such Taxes
incurred by any person with respect to the Mobileye Business for all periods and shall be entitled to all refunds and credits of Taxes
previously incurred by any person with respect to such Taxes. Nothing in this Agreement shall be construed to require compensation, by
payment, credit, offset or otherwise, by Intel (or any Intel Affiliate) to Mobileye (or any Mobileye Affiliate) for any loss, deduction,
credit or other Tax attribute arising in connection with, or related to, Mobileye, any Mobileye Affiliate, or the Mobileye Business, that
is shown on, or otherwise reflected with respect to, any Tax Return described in Section 2.01 of this Agreement.

 

    	 	9	 

     

    

 

3.04.        Payment
of Tax Liability. If one party is liable or responsible for Taxes, under Sections 3.01 through 3.03 of this Agreement, with respect
to Tax Returns for which another party is responsible for filing, or with respect to Taxes that are paid by another party, then the liable
or responsible party shall pay the Taxes (or a reimbursement of such Taxes) to the other party pursuant to Section 7.05 of this Agreement.

 

3.05.        Computation.
Intel shall provide Mobileye with a written calculation in reasonable detail setting forth the amount of any Mobileye Separate Tax Liability
or estimated Mobileye Separate Tax Liability (for purposes of Section 7.01 of this Agreement) in accordance with Section 2.04(b) of
this Agreement. Any dispute with respect to such calculation shall be resolved pursuant to Section 9.03 of this Agreement; provided,
however, that, notwithstanding any dispute with respect to any such calculation, in no event shall any payment attributable to the amount
of any Mobileye Separate Tax Liability or estimated Mobileye Separate Tax Liability be paid later than the date provided in Section 7
of this Agreement.

 

Section 4.     Deconsolidation
Events.

 

4.01.        General.

 

Neither Intel nor Mobileye has any plan or intent
to effectuate any transaction that would constitute a Deconsolidation Event. In the case of a Deconsolidation Event, Intel shall,
after consulting with Mobileye in good faith, reasonably determine, and Mobileye shall cooperate with Intel in determining, the allocation
of any Tax Assets among Intel, each Intel Affiliate, Mobileye, and each Mobileye Affiliate. For the avoidance of doubt, in the case of
a Deconsolidation Event, all rights and obligations of the parties with respect to the matters covered by this Agreement shall be governed
by the other provisions of this Agreement, unless otherwise provided in this Section 4.

 

4.02.        Continuing
Covenants.

 

Each of Intel (for itself and each Intel Affiliate)
and Mobileye (for itself and each Mobileye Affiliate) agrees (1) not to take any action reasonably expected to result in an increased
Tax liability to the other, a reduction in a Tax Asset of the other or an increased liability to the other under this Agreement, and (2) to
take any action reasonably requested by the other that would reasonably be expected to result in a Tax Benefit or avoid a Tax Detriment
to the other, provided, in either such case, that the taking or refraining to take such action does not result in any additional cost
not fully compensated for by the other party or any other adverse effect to such party. The parties hereby acknowledge that the preceding
sentence is not intended to limit, and therefore shall not apply to, the rights of the parties with respect to matters otherwise specifically
covered by this Agreement.

 

    	 	10	 

     

    

 

Section 5.     Distribution
Taxes.

 

5.01.          Liability
for Distribution Taxes. Although neither party has any plan or intent to effectuate a Distribution, the parties have set forth how
certain Tax matters with respect to a Distribution would be handled in the event that a Distribution is pursued at some future time.

 

(a)          Intel’s
Liability for Distribution Taxes. In the event of a Distribution, notwithstanding Sections 3.01 through 3.03 of this Agreement, Intel
shall be liable for any Distribution Taxes, to the extent that such Distribution Taxes are attributable to, caused by, or result from,
one or more of the following:

 

(i)          any
action or omission by Intel (or any Intel Affiliate) inconsistent with any information, covenant, representation, or material related
to Intel, any Intel Affiliate, or the Intel Business in an Officer’s Certificate, Tax Opinion, Supplemental Tax Opinion, Ruling
Documents, Supplemental Ruling Documents, Ruling, or Supplemental Ruling;

 

(ii)         any
action or omission by Intel (or any Intel Affiliate), including a cessation, transfer to affiliates, or disposition of its active trades
or businesses, or an issuance of stock, stock buyback or payment of an extraordinary dividend by Intel (or any Intel Affiliate) following
a Distribution;

 

(iii)        any
acquisition of any stock or assets of Intel (or any Intel Affiliate) by one or more other persons (other than Mobileye or a Mobileye Affiliate)
prior to or following a Distribution; or

 

(iv)        any
issuance of stock by Intel (or any Intel Affiliate), or change in ownership of stock in Intel (or any Intel Affiliate).

 

(b)          Mobileye’s
Liability for Distribution Taxes. In the event of a Distribution, notwithstanding Sections 3.01 through 3.03 of this Agreement, Mobileye
shall be liable for any Distribution Taxes, to the extent that such Distribution Taxes are attributable to, caused by, or result from,
one or more of the following:

 

(i)          any
action or omission by Mobileye (or any Mobileye Affiliate) after a Distribution at any time, that is inconsistent with any information,
covenant, representation, or material related to Mobileye, any Mobileye Affiliate, or the Mobileye Business in an Officer’s Certificate,
Tax Opinion, Supplemental Tax Opinion, Ruling Documents, Supplemental Ruling Documents, Ruling, or Supplemental Ruling;

 

(ii)         any
action or omission by Mobileye (or any Mobileye Affiliate) after the date of a Distribution (including any act or omission that is in
furtherance of, connected to, or part of a plan or series of related transactions (within the meaning of Section 355(e) of the
Code) occurring on or prior to the date of a Distribution) including a cessation, transfer to affiliates or disposition of the active
trades or businesses of Mobileye (or any Mobileye Affiliate), stock buyback or payment of an extraordinary dividend;

 

    	 	11	 

     

    

 

(iii)        any
acquisition of any stock or assets of Mobileye (or any Mobileye Affiliate) by one or more other persons (other than Intel or any Intel
Affiliate) prior to or following a Distribution; or

 

(iv)        any
issuance of stock by Mobileye (or any Mobileye Affiliate) after a Distribution, including any issuance pursuant to the exercise of employee
stock options or other employment related arrangements or the exercise of warrants, or change in ownership of stock in Mobileye (or any
Mobileye Affiliate) after a Distribution.

 

For the avoidance of doubt, the presence of a Supplemental Opinion
or Supplemental Ruling pursuant to Section 5.02(c) hereof shall not relieve Mobileye from any liability otherwise arising under
this Section 5.01(b).

 

(c)          Joint
Liability for Remaining Distribution Taxes. With respect to any Distribution Taxes not otherwise allocated by Sections 5.01(a) or
(b) of this Agreement, each of Intel and Mobileye shall be liable for its respective share of such taxes, determined by reference
to a ratio, the numerator of which is the relevant party’s Market Capitalization at the time of such Distribution and the denominator
of which is the aggregate Market Capitalization of Intel and Mobileye at the time of such Distribution.

 

5.02.          Continuing
Covenants.

 

(a)          Mobileye
Restrictions. Mobileye agrees that, so long as a Distribution could, in the reasonable discretion of Intel, be effectuated,
Mobileye will not knowingly take or fail to take, or permit any Mobileye Affiliate to knowingly take or fail to take, any action
that could reasonably be expected to preclude Intel’s ability to effectuate a Distribution. In the event of a Distribution,
Mobileye agrees that (1) it will take, or cause any Mobileye Affiliate to take, any action reasonably requested by Intel in
order to enable Intel to effectuate a Distribution and (2) it will not take or fail to take, or permit any Mobileye Affiliate
to take or fail to take, any action where such action or failure to act would be inconsistent with any information, covenant,
representation, or material that relates to facts or matters related to Mobileye (or any Mobileye Affiliate) or within the control
of Mobileye and is contained in an Officer’s Certificate, Tax Opinion, Supplemental Tax Opinion, Ruling Documents,
Supplemental Ruling Documents, Ruling, or Supplemental Ruling (except where such information, covenant, representation, or material
was not previously disclosed to Mobileye) other than as permitted by Section 5.02(c) of this Agreement. For this purpose
an action is considered inconsistent with a representation if the representation states that there is no plan or intention to
take such action. In the event of a Distribution, Mobileye agrees that it will not take (and it will cause the Mobileye Affiliates
to refrain from taking) any position on a Tax Return that is inconsistent with such Distribution qualifying under Section 355
of the Code.

 

    	 	12	 

     

    

 

(b)          Intel
Restrictions. In the event of a Distribution, Intel agrees that it will not take or fail to take, or permit any Intel Affiliate
to take or fail to take, any action where such action or failure to act would be inconsistent with any material, information, covenant
or representation that relates to facts or matters related to Intel (or any Intel Affiliate) or within the control of Intel and is contained
in an Officer’s Certificate, Tax Opinion, Supplemental Tax Opinion, Ruling Documents, Supplemental Ruling Documents, Ruling, or
Supplemental Ruling. For this purpose an action is considered inconsistent with a representation if the representation states that there
is no plan or intention to take such action. In the event of a Distribution, Intel agrees that it will not take (and it will cause
the Intel Affiliates to refrain from taking) any position on a Tax Return that is inconsistent with such Distribution qualifying under
Section 355 of the Code.

 

(c)          Certain
Mobileye Actions Following a Distribution. In the event of a Distribution, Mobileye agrees that, during the two (2) year period
following a Distribution, without first obtaining, at Mobileye’s own expense, either a supplemental opinion from Tax Counsel that
such action will not result in Distribution Taxes (a “Supplemental Tax Opinion”) or a Supplemental Ruling that such
action will not result in Distribution Taxes, unless in any such case Intel and Mobileye agree otherwise, Mobileye shall not (1) sell
all or substantially all of the assets of Mobileye or any Mobileye Affiliate, (2) merge Mobileye or any Mobileye Affiliate with another
entity, without regard to which party is the surviving entity (other than any merger between two Mobileye Affiliates and a merger between
a Mobileye Affiliate and Mobileye where Mobileye is the surviving entity, in each case, where the applicable Mobileye Affiliate(s) are
members of the Mobileye Group), (3) transfer any assets of Mobileye in a transaction described in Section 351 (other than a
transfer to a corporation which files a Consolidated Return with Mobileye and which is wholly-owned, directly or indirectly, by Mobileye)
or subparagraph (C) or (D) of Section 368(a)(1) of the Code, (4) issue stock of Mobileye or any Mobileye Affiliate
(or any instrument that is convertible or exchangeable into any such stock) in an acquisition or public or private offering except to
the extent such issuances satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of services)
or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulations Section 1.355-7(d), or (5) facilitate
or otherwise participate in any acquisition of stock in Mobileye that would result in any shareholder owning five percent (5%) or more
of the outstanding stock of Mobileye. Mobileye (or any Mobileye Affiliate) shall only undertake any of such actions after Intel’s
receipt of such Supplemental Tax Opinion or Supplemental Ruling and pursuant to the terms and conditions of any such Supplemental Tax
Opinion or Supplemental Ruling or as otherwise consented to in writing in advance by Intel. The parties hereby agree that they will act
in good faith to take all reasonable steps necessary to amend this Section 5.02(c), from time to time, by mutual agreement, to (i) add
certain actions to the list contained herein, or (ii) remove certain actions from the list contained herein, in either case, in order
to reflect any relevant change in law, regulation or administrative interpretation occurring after the date of this Agreement and prior
to a Distribution.

 

(d)          Notice
of Specified Transactions. Not later than ten (10) Business Days prior to entering into any oral or written contract or agreement,
and not later than five (5) Business Days after it first becomes aware of any negotiations, plan or intention (regardless of whether
it is a party to such negotiations, plan or intention), regarding any of the transactions described in paragraph (c), Mobileye shall provide
written notice of its intent to consummate such transaction or the negotiations, plan or intention of which it becomes aware, as the case
may be, to Intel.

 

    	 	13	 

     

    

 

(e)          Mobileye
Cooperation. Mobileye agrees that, at the reasonable request of Intel, Mobileye shall cooperate fully with Intel to take any action
necessary or reasonably helpful to effectuate a Distribution, including seeking to obtain, as expeditiously as possible, a Tax Opinion,
Ruling, and/or Supplemental Ruling. Such cooperation shall include the execution of any documents that may be necessary or reasonably
helpful in connection with obtaining any Tax Opinion, Ruling, and/or Supplemental Ruling (including any (i) power of attorney, (ii) Officer’s
Certificate, (iii) Ruling Documents, (iv) Supplemental Ruling Documents, and/or (v) reasonably requested written representations
confirming that (a) Mobileye has read the Officer’s Certificate, Ruling Documents, and/or Supplemental Ruling Documents and
(b) all information and representations, if any, relating to Mobileye, any Mobileye Affiliate or the Mobileye Business contained
therein are true, correct and complete in all material respects).

 

Section 6.     Indemnification.

 

6.01.        In
General. Intel shall indemnify Mobileye, each Mobileye Affiliate, and their respective directors, officers and employees, and
hold them harmless from and against any and all Taxes for which Intel or any Intel Affiliate is liable under this Agreement and any
loss, cost, damage or expense, including reasonable attorneys’ fees and costs, that is attributable to, or results from, the
failure of Intel, any Intel Affiliate or any director, officer or employee to make any payment required to be made under this
Agreement. Mobileye shall indemnify Intel, each Intel Affiliate, and their respective directors, officers and employees, and hold
them harmless from and against any and all Taxes for which Mobileye or any Mobileye Affiliate is liable under this Agreement and any
loss, cost, damage or expense, including reasonable attorneys’ fees and costs, that is attributable to, or results from, the
failure of Mobileye, any Mobileye Affiliate or any director, officer or employee to make any payment required to be made under this
Agreement.

 

6.02.        Inaccurate
or Incomplete Information. Intel shall indemnify Mobileye, each Mobileye Affiliate, and their respective directors, officers and employees,
and hold them harmless from and against any cost, fine, penalty, or other expense of any kind attributable to Intel or any Intel Affiliate
supplying Mobileye or any Mobileye Affiliate with inaccurate or incomplete information, in connection with the preparation of any Tax
Return. Mobileye shall indemnify Intel, each Intel Affiliate, and their respective directors, officers and employees, and hold them harmless
from and against any cost, fine, penalty, or other expenses of any kind attributable to Mobileye or any Mobileye Affiliate supplying Intel
or any Intel Affiliate with inaccurate or incomplete information, in connection with the preparation of any Tax Return.

 

6.03.        No
Indemnification for Tax Items. Nothing in this Agreement shall be construed as a guarantee of the existence or amount of any loss,
credit, carryforward, basis or other Tax Item, whether past, present or future, of Intel, any Intel Affiliate, Mobileye or any Mobileye
Affiliate. In addition, for the avoidance of doubt, for purposes of determining any amount owed between the parties hereto, all such determinations
shall be made without regard to any financial accounting Tax asset or liability or other financial accounting items.

 

    	 	14	 

     

    

 

Section 7.     Payments.

 

7.01.        Estimated
Tax Payments. Not later than ten (10) Business Days prior to each Estimated Tax Installment Date with respect to a taxable period
for which a Consolidated Return or a Combined Return will be filed, Mobileye shall pay to Intel on behalf of the Mobileye Group an amount
equal to the amount of any estimated Mobileye Separate Tax Liability. Not later than twenty (20) Business Days prior to each such Estimated
Tax Installment Date, Intel shall provide Mobileye with a written notice setting forth the amount payable by Mobileye in respect
of such estimated Mobileye Separate Tax Liability and a calculation of such amount.

 

7.02.        True-Up
Payments. Not later than thirty (30) Business Days after receipt of any Mobileye Separate Tax Liability computation pursuant to Section 3.05
of this Agreement, Mobileye shall pay to Intel, or Intel shall pay to Mobileye (as appropriate), an amount equal to the difference, if
any, between the amount of such Mobileye Separate Tax Liability and the aggregate amount paid by Mobileye with respect to such period
under Section 7.01 of this Agreement.

 

7.03.        Redetermination
Amounts. In the event of a redetermination of any Tax Item reflected on any Consolidated Return or Combined Return (other than Tax
Items relating to Distribution Taxes), as a result of a refund of Taxes paid, a Final Determination or any settlement or compromise with
any Taxing Authority which in any such case would affect the Mobileye Separate Tax Liability, Intel shall prepare a revised pro forma
Tax Return in accordance with Section 2.04(b) of this Agreement for the relevant taxable period reflecting the redetermination
of such Tax Item as a result of such refund, Final Determination, settlement or compromise. Mobileye shall pay to Intel, or Intel shall
pay to Mobileye, as appropriate, an amount equal to the difference, if any, between the Mobileye Separate Tax Liability reflected on such
revised pro forma Tax Return and the Mobileye Separate Tax Liability for such period as originally computed pursuant to this Agreement.

 

7.04.        Payments
of Refunds, Credits and Reimbursements. If one party receives a refund or credit of any Tax to which the other party is entitled pursuant
to Section 3.03 of this Agreement, the party receiving such refund or credit shall pay to the other party the amount of such refund
or credit pursuant to Section 7.05 of this Agreement. If one party pays a Tax with respect to which the other party is liable of
responsible pursuant to Sections 3.01 through 3.03 of this Agreement, then the liable or responsible party shall pay to the other party
the amount of such Tax pursuant to Section 7.05 of this Agreement.

 

7.05.        Payments
Under This Agreement. In the event that one party (the “Owing Party”) is required to make a payment to another
party (the “Owed Party”) pursuant to this Agreement, then such payments shall be made according to this Section 7.05.

 

(a)          In
General. All payments shall be made to the Owed Party or to the appropriate Taxing Authority as specified by the Owed Party within
the time prescribed for payment in this Agreement, or if no period is prescribed, within thirty (30) Business Days after delivery of written
notice of payment owing together with a computation of the amounts due.

 

    	 	15	 

     

    

 

(b)          Treatment
of Payments. Unless otherwise required by any Final Determination, the parties agree that any payments made by one party to
another party pursuant to this Agreement (other than (i) payments in respect of the Mobileye Separate Tax Liability for any
Post-Deconsolidation Period, (ii) payments of interest pursuant to Section 7.05(e) of this Agreement, and
(iii) payments of After Tax Amounts pursuant to Section 7.05(d) of this Agreement) shall be treated for all Tax and
financial accounting purposes as nontaxable payments (dividend distributions or capital contributions, as the case may be) and
accordingly, as not includible in the taxable income of the recipient or as deductible by the payor.

 

(c)          Prompt
Performance. All actions required to be taken (including payments) by any party under this Agreement shall be performed within the
time prescribed for performance in this Agreement, or if no period is prescribed, such actions shall be performed promptly.

 

(d)          After
Tax Amounts. If, pursuant to a Final Determination, it is determined that the receipt or accrual of any payment made under this Agreement
(other than payments of interest pursuant to Section 7.05(e) of this Agreement) is subject to any Tax, the party making such
payment shall be liable for (a) the After Tax Amount with respect to such payment and (b) interest at the rate described in
Section 7.05(e) of this Agreement on the amount of such Tax from the date such Tax accrues through the date of payment of such
After Tax Amount. A party making a demand for a payment pursuant to this Agreement and for a payment of an After Tax Amount with respect
to such payment shall separately specify and compute such After Tax Amount. However, a party may choose not to specify an After Tax Amount
in a demand for payment pursuant to this Agreement without thereby being deemed to have waived its right subsequently to demand an After
Tax Amount with respect to such payment. Mobileye’s liability for any and all payments of the Mobileye Separate Tax Liability for
any Post-Deconsolidation Period shall be increased by the After Tax Amount with respect to such payment and decreased by the corresponding
Tax Benefit, if any, attributable to such Mobileye Separate Tax Liability.

 

(e)          Interest.
Payments pursuant to this Agreement that are not made within the period prescribed in this Agreement (the “Payment Period”)
shall bear interest for the period from and including the date immediately following the last date of the Payment Period through and including
the date of payment at a per annum rate equal to the prime rate as published in The Wall Street Journal on the last day of such
Payment Period. Such interest will be payable at the same time as the payment to which it relates and shall be calculated on the basis
of a year of three hundred sixty-five (365) days and the actual number of days for which due.

 

Section 8.     Tax
Proceedings.

 

8.01.        General.
Except as otherwise provided in this Agreement, Intel shall have the exclusive right, in its sole discretion, to control, contest,
and represent the interests of Intel, any Intel Affiliate, Mobileye, and/or any Mobileye Affiliate in any Audit and to resolve, settle
or agree to any deficiency, claim or adjustment proposed, asserted or assessed in connection with or as a result of any such Audit; provided
that, (i) Intel shall not settle any Audit to the extent relating to Taxes described in Section 3.01(b) or (c) without
obtaining Mobileye’s consent (which consent shall not be unreasonably withheld, conditioned or delayed), and (ii) Mobileye
shall have the right (at its sole expense) to participate in the defense of any Audit to the extent relating to Taxes described in Section 3.01(b) or
(c). Intel’s rights pursuant to this Section 8.01 shall extend to any matter pertaining to the management and control of an
Audit, including execution of waivers, choice of forum, scheduling of conferences and the resolution of any Tax Item. Any costs incurred
in handling, settling, or contesting an Audit to the extent relating to Taxes described in Section 3.01 shall be borne by Mobileye.

 

    	 	16	 

     

    

 

8.02.        Notice.
Within ten (10) Business Days after a party becomes aware of the existence of a Tax issue that may give rise to an indemnification
obligation under this Agreement, such party shall give prompt notice to the other party of such issue (such notice shall contain factual
information, to the extent known, describing any asserted Tax liability in reasonable detail), and shall promptly forward to the other
party copies of all notices and material communications with any Taxing Authority relating to such issue. Notwithstanding any provision
in Section 9.15 of this Agreement to the contrary, if a party to this Agreement fails to provide the other party notice as required
by this Section 8.02, and the failure results in a detriment to the other party then any amount which the other party is otherwise
required to pay pursuant to this Agreement shall be reduced by the amount of such detriment.

 

8.03.        Control
of Distribution Tax Proceedings. In the event of a Distribution, Intel shall have the exclusive right, in its sole
discretion, to control, contest, and represent the interests of Intel, any Intel Affiliate, Mobileye, and/or any Mobileye Affiliate
in any Audits relating to Distribution Taxes and to resolve, settle or agree to any deficiency, claim or adjustment proposed,
asserted or assessed in connection with or as a result of any such Audit; provided, however, that (i) Mobileye shall be
entitled to participate in any such Audit, at its own costs and expenses, to the extent Mobileye or any Mobileye Affiliate would
reasonably be expected to bear any material Distribution Taxes, and (ii)  Intel shall not settle any such Audit with respect to
Distribution Taxes with a Taxing Authority that would reasonably be expected to result in a material Tax cost to Mobileye or any
Mobileye Affiliate, without the prior consent of Mobileye (which consent shall not be unreasonably withheld, conditioned or
delayed). Intel’s rights shall extend to any matter pertaining to the management and control of such Audit, including
execution of waivers, choice of forum, scheduling of conferences and the resolution of any Tax Item.

 

Section 9.     Miscellaneous
Provisions.

 

9.01.        Effectiveness.
This Agreement shall become effective upon execution by the parties hereto.

 

    	 	17	 

     

    

 

9.02.        Cooperation
and Exchange of Information.

 

(a)          Cooperation.
Mobileye and Intel shall each cooperate fully (and each shall cause its respective affiliates to cooperate fully) with all reasonable
requests from another party for information and materials not otherwise available to the requesting party in connection with the preparation
and filing of Tax Returns, claims for refund, and Audits concerning issues or other matters covered by this Agreement or in connection
with the determination of a liability for Taxes or a right to a refund of Taxes. Such cooperation shall include:

 

(i)          the
retention until the expiration of the applicable statute of limitations, and the provision upon request, of copies of all Tax Returns,
books, records (including information regarding ownership and Tax basis of property), documentation and other information relating to
the Tax Returns, including accompanying schedules, related work papers, and documents relating to rulings or other determinations by Taxing
Authorities;

 

(ii)         the
execution of any document that may be necessary or reasonably helpful in connection with any Tax Proceeding, or the filing of a Tax Return
or refund claim by a member of the Intel Group or the Mobileye Group, including certification, to the best of a party’s knowledge,
of the accuracy and completeness of the information it has supplied; and

 

(iii)        the
use of the party’s reasonable best efforts to obtain any documentation that may be necessary or reasonably helpful in connection
with any of the foregoing. Each party shall make its employees and facilities available on a reasonable and mutually convenient basis
in connection with the foregoing matters.

 

(b)          Retention
of Records. Any party that is in possession of documentation of Intel (or any Intel Affiliate) or Mobileye (or any Mobileye Affiliate)
relating to the Mobileye Business, including books, records, Tax Returns and all supporting schedules and information relating thereto
(the “Mobileye Business Records”) shall retain such Mobileye Business Records for a period of [●] following the
IPO Date. Thereafter, any party wishing to dispose of Mobileye Business Records in its possession (after the expiration of the applicable
statute of limitations), shall provide written notice to the other party describing the documentation proposed to be destroyed or disposed
of sixty (60) Business Days prior to taking such action. The other party may arrange to take delivery of any or all of the documentation
described in the notice at its expense during the succeeding sixty (60) day period.

 

9.03.        Dispute
Resolution. In the event that Intel and Mobileye disagree as to the amount or calculation of any payment to be made under this Agreement,
or the interpretation or application of any provision under this Agreement, the parties shall attempt in good faith to resolve such dispute.
If such dispute is not resolved within sixty (60) Business Days following the commencement of the dispute, Intel and Mobileye shall
jointly retain a mutually agreed nationally recognized law or accounting firm (the “Dispute Firm”), to resolve the
dispute. The Dispute Firm shall act as an arbitrator to resolve all points of disagreement and its decision shall be final and binding
upon all parties involved. Following the decision of the Dispute Firm, Intel and Mobileye shall each take or cause to be taken any
action necessary to implement the decision of the Dispute Firm. The fees and expenses relating to the Dispute Firm shall be borne equally
by Intel and Mobileye, except that if the Dispute Firm determines that the position advanced by either party is frivolous, has not been
asserted in good faith or for which there is not substantial authority, one hundred percent (100%) of the fees and expenses of the Dispute
Firm shall be borne by such party. Notwithstanding anything in this Agreement to the contrary, the dispute resolution provisions set forth
in this Section 9.03 shall not be applicable to any disagreement between the parties relating to Distribution Taxes and any such
dispute shall be settled in a court of law or as otherwise agreed to by the parties.

 

    	 	18	 

     

    

 

9.04.        Notices.
All notices and other communications hereunder shall be in writing and shall be deemed duly given (a) on the date of delivery
if delivered personally, (b) if sent designated for overnight delivery by nationally recognized overnight air courier (such as
DHL or Federal Express), upon receipt of proof of delivery on a Business Day before 5:00 p.m. in the time zone of the receiving
party, otherwise upon the following Business Day after receipt of proof of delivery, or (c) at the time sent (if sent before
5:00 p.m., addressee’s local time and on the next Business Day if sent after 5:00 p.m., addressee’s local
time), if sent by email of a .pdf, .tif, .gif, .jpg or similar attachment. All notices and other communications must also be sent by
email. All notices and other communications hereunder shall be delivered to the addresses set forth below:

 

If to Intel, to:

 

Intel Corporation

2200 Mission College Boulevard

Santa Clara, California 95054

Attention: General Counsel

 

with
a copy to (which copy shall not constitute notice):

 

[●]

Email: ****

 

[●]

Email: ****

 

If to Mobileye, to:

 

Mobileye Global Inc.

c/o Mobileye B.V.

Har Hotzvim, 13 Hartom Street

P.O. Box 45157 Jerusalem 9777513, Israel

Attention: General Counsel

 

Either party may, by written notice to the other
parties, change the address or the party to which any notice, request, instruction or other documents is to be delivered.

 

9.05.        Changes
in Law.

 

(a)          Any
reference to a provision of the Code or a law of another jurisdiction shall include a reference to any applicable successor provision
or law.

 

(b)          If,
due to any change in applicable law or regulations or their interpretation by any court of law or other governing body having jurisdiction
subsequent to the date of this Agreement, performance of any provision of this Agreement or any transaction contemplated thereby shall
become impracticable or impossible, the parties hereto shall use their commercially reasonable efforts to find and employ an alternative
means to achieve the same or substantially the same result as that contemplated by such provision.

 

    	 	19	 

     

    

 

9.06.        Confidentiality.
Each party shall hold and cause its directors, officers, employees, advisors and consultants to hold in strict confidence, unless compelled
to disclose by judicial or administrative process or, in the opinion of its counsel, by other requirements of law, all information (other
than any such information relating solely to the business or affairs of such party) concerning the other parties hereto furnished it by
such other party or its representatives pursuant to this Agreement (except to the extent that such information can be shown to have been
(1) in the public domain through no fault of such party or (2) later lawfully acquired from other sources not under a duty of
confidentiality by the party to which it was furnished), and each party shall not release or disclose such information to any other person,
except its directors, officers, employees, auditors, attorneys, financial advisors, bankers and other consultants who shall be advised
of and agree to be bound by the provisions of this Section 9.06. Each party shall be deemed to have satisfied its obligation to hold
confidential information concerning or supplied by the other party if it exercises the same care as it takes to preserve confidentiality
for its own similar information.

 

9.07.        Successors.
This Agreement shall be binding on and inure to the benefit and detriment of any successor, by merger, acquisition of assets or otherwise,
to any of the parties hereto, to the same extent as if such successor had been an original party.

 

9.08.        Affiliates.
This Agreement is being entered into between Intel and Mobileye on behalf of themselves and any current and future Intel Affiliates and
Mobileye Affiliates, respectively. Intel shall cause to be performed, and hereby guarantees the performance of, all actions, agreements
and obligations set forth herein to be performed by any current and future Intel Affiliate, and Mobileye shall cause to be performed,
and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any current and
future Mobileye Affiliate.

 

9.09.        Authorization,
Etc. Each of the parties hereto hereby represents and warrants that it has the power and authority to execute, deliver and perform
this Agreement, that this Agreement has been duly authorized by all necessary corporate action on the part of such party, that this Agreement
constitutes a legal, valid and binding obligation of each such party and that the execution, delivery and performance of this Agreement
by such party does not contravene or conflict with any provision of law or of its charter or bylaws or any agreement, instrument or order
binding on such party.

 

9.10.        Entire
Agreement. This Agreement contains the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes
any prior tax sharing agreements between Intel (or any Intel Affiliate) and Mobileye (or any Mobileye Affiliate) and such prior tax sharing
agreements shall have no further force and effect. If, and to the extent, the provisions of this Agreement conflict with any agreement
entered into in connection with a Distribution or another Deconsolidation Event, the provisions of this Agreement shall control.

 

    	 	20	 

     

    

 

9.11.        Applicable
Law: Jurisdiction. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY AND UNCONDITIONALLY (i) AGREES THAT THIS AGREEMENT
SHALL BE CONSTRUED IN ACCORDANCE WITH AND ALL DISPUTES, CONTROVERSIES OR CLAIMS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE BREACH,
TERMINATION OR VALIDITY HEREOF SHALL BE GOVERNED BY THE LAWS OF THE STATE OF DELAWARE, EXCLUDING ANY CONFLICTS OF LAW RULES, (ii) TO
BE SUBJECT TO, AND HEREBY CONSENTS AND SUBMITS TO, THE JURISDICTION OF THE COURTS OF THE STATE OF DELAWARE AND OF THE FEDERAL COURTS SITTING
IN THE STATE OF DELAWARE, (iii) TO THE EXTENT SUCH PARTY IS NOT OTHERWISE SUBJECT TO SERVICE OF PROCESS IN THE STATE OF DELAWARE
HEREBY APPOINTS THE CORPORATION TRUST COMPANY, AS SUCH PARTY’S AGENT IN THE STATE OF DELAWARE FOR ACCEPTANCE OF LEGAL PROCESS AND
(iv) AGREES THAT SERVICE MADE ON ANY SUCH AGENT SET FORTH IN (iii) ABOVE SHALL HAVE THE SAME LEGAL FORCE AND EFFECT AS IF SERVED
UPON SUCH PARTY PERSONALLY WITHIN THE STATE OF DELAWARE.

 

9.12.        Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same Agreement.

 

9.13.        Severability.
If any term, provision, covenant, or restriction of this Agreement is held by a court of competent jurisdiction (or an arbitrator or arbitration
panel) to be invalid, void, or unenforceable, the remainder of the terms, provisions, covenants, and restrictions set forth herein shall
remain in full force and effect, and shall in no way be affected, impaired, or invalidated. In the event that any such term, provision,
covenant or restriction is held to be invalid, void or unenforceable, the parties hereto shall use their best efforts to find and employ
an alternate means to achieve the same or substantially the same result as that contemplated by such terms, provisions, covenant, or restriction.

 

9.14.        No
Third Party Beneficiaries. This Agreement is solely for the benefit of Intel, the Intel Affiliates, Mobileye and the Mobileye Affiliates.
This Agreement should not be deemed to confer upon third parties any remedy, claim, liability, reimbursement, cause of action or other
rights in excess of those existing without this Agreement.

 

9.15.        Waivers,
Etc. No failure or delay on the part of a party in exercising any power or right hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or
power, preclude any other or further exercise thereof or the exercise of any other right or power. No modification or waiver of any provision
of this Agreement nor consent to any departure by the parties therefrom shall in any event be effective unless the same shall be in writing,
and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.

 

9.16.        Setoff.
All payments to be made by any party under this Agreement may be netted against payments due to such party under this Agreement, but otherwise
shall be made without setoff, counterclaim or withholding, all of which are hereby expressly waived.

 

    	 	21	 

     

    

 

9.17.        Other
Remedies. Mobileye recognizes that any failure by it or any Mobileye Affiliate to comply with its obligations under Section 5
of this Agreement would, in the event of a Distribution, result in Distribution Taxes that would cause irreparable harm to Intel, Intel
Affiliates, and their stockholders. Accordingly, Intel shall be entitled to an injunction or injunctions to prevent breaches of this
Agreement and to enforce specifically the terms and provisions of this Agreement, this being in addition to any other remedy to which
Intel is entitled at law or in equity.

 

9.18.        Amendment
and Modification. This Agreement may be amended, modified or supplemented only by a written agreement signed by all of the parties
hereto.

 

9.19.        Waiver
of Jury Trial. Each of the parties hereto irrevocably and unconditionally waives all right to trial by jury in any litigation, claim,
action, suit, arbitration, inquiry, proceeding, investigation or counterclaim (whether based in contract, tort or otherwise) arising out
of or relating to this Agreement or the actions of the parties hereto in the negotiation, administration, performance and enforcement
thereof.

 

9.20.        Interpretations.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement
they shall be deemed to be followed by the words “without limitation.” The words “hereof,” “herein”
and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole
and not to any particular provision of this Agreement, and “Section” references are to the sections of this Agreement unless
otherwise specified. The meaning assigned to each term defined herein shall be equally applicable to both the singular and the plural
forms of such term, and words denoting any gender shall include all genders. Where a word or phrase is defined herein, each of its other
grammatical forms shall have a corresponding meaning. The parties have participated jointly in the negotiation and drafting of this Agreement.
In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the
parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions
of this Agreement.

 

    	 	22	 

     

    

 

IN WITNESS WHEREOF, each of the parties hereto
has caused this Agreement to be executed by a duly authorized officer as of the date first above written.

 

	 	INTEL CORPORATION
	 	 	 
	 	 	 
	 	By:	                                    
	 	Name: 	 
	 	Title: 	 
	 	 	 
	 	 	 
	 	MOBILEYE GLOBAL INC.
	 	 	 
	 	 	 
	 	By:	                        
	 	Name:	 
	 	Title:	 

 

[Tax Sharing Agreement]Exhibit 10.8

 

MOBILEYE GLOBAL INC. 

 

2022 EQUITY INCENTIVE PLAN

 

1. PURPOSE

 

The purpose of this Mobileye
Global Inc. 2022 Equity Incentive Plan (the “Plan”) is to advance the interests of Mobileye Global Inc., a Delaware corporation,
and its Subsidiaries (hereinafter collectively the “Corporation”), by stimulating the efforts of employees and Consultants
who are selected to be Participants on behalf of the Corporation, aligning the long-term interests of Participants with those of stockholders,
heightening the desire of Participants to continue in working toward and contributing to the success of the Corporation, assisting the
Corporation in competing effectively with other enterprises for the services of new employees necessary for the continued improvement
of operations, and to attract, motivate and retain the best available individuals for service to the Corporation. This Plan permits the
grant of stock options, stock appreciation rights, restricted stock and restricted stock units, each of which shall be subject to such
conditions based upon continued employment or service, passage of time or satisfaction of performance criteria as shall be specified pursuant
to the Plan.

 

2. DEFINITIONS

 

(a) “Award”
means a stock option, stock appreciation right, restricted stock or restricted stock unit granted to a Participant pursuant to the Plan.

 

(b) “Board of Directors”
means the Board of Directors of the Corporation.

 

(c) “Code”
shall mean the Internal Revenue Code of 1986, as such is amended from time to time, and any reference to a section of the Code shall include
any successor provision of the Code.

 

(d) “Committee”
shall mean the committee appointed by the Board of Directors from among its members to administer the Plan pursuant to Section 3.

 

(e) “Consultant”
means any person, including any adviser, engaged by the Corporation or a Subsidiary of the Corporation to render services to such entity
if the consultant or adviser: (i) renders bona fide services to the Corporation or the Subsidiary; (ii) renders services not in connection
with the offer or sale of securities in a capital-raising transaction and does not directly or indirectly promote or maintain a market
for the Corporation’s securities; and (iii) is a natural person.

 

(f) “Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended from time to time, and any reference to a section of the Exchange Act shall
include any successor provision of the Exchange Act.

 

(g) “market value”
means, as of any date, the value of Shares determined as follows: (i) the common stock of the Corporation is listed on any established
stock exchange or a national market system, including without limitation the Nasdaq Global Select Market, the Nasdaq Global Market or
the Nasdaq Capital Market of the Nasdaq Stock Market, its market value will be the closing sales price for such stock (or the closing
bid, if no sales were reported) as quoted on such exchange or system on the day of determination, as reported in The Wall Street Journal
or such other source as the Administrator deems reliable; (ii) if the Common Stock is regularly quoted by a recognized securities dealer
but selling prices are not reported, the market value of a Share will be the mean between the high bid and low asked prices for the common
stock on the day of determination (or, if no bids and asks were reported on that date, as applicable, on the last trading date such bids
and asks were reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; or (iii) in the
absence of an established market for the common stock, the market value will be determined in good faith by the Committee.

 

(h) “Outside Director”
shall mean a member of the Board of Directors who is not otherwise an employee of the Corporation.

 

(i) “Participants”
shall mean those individuals to whom Awards have been granted from time to time and any authorized transferee of such individuals.

 

(j) “Performance
Award” means an Award the grant, issuance, retention, vesting and/or settlement of which is subject to satisfaction of one or more
of the Performance Criteria specified in Section 10(b) or any other performance criteria.

 

(k) “Plan”
means this Mobileye Global Inc. 2022 Equity Incentive Plan.

 

(l) “Share”
shall mean a share of common stock, $0.01 par value, of the Corporation or the number and kind of shares of stock or other securities
which shall be substituted or adjusted for such shares as provided in Section 11.

 

(m) “Subsidiary”
means any corporation or entity in which the Corporation owns or controls, directly or indirectly, fifty percent (50%) or more of the
voting power or economic interests of such corporation or entity.

 

    1

     

    

 

3. ADMINISTRATION

 

(a) Composition of Committee.
This Plan shall be administered by the Committee or prior to the date the Corporation becomes subject to the reporting requirements
of Rule 13 or 15(d) of the Exchange Act, the Board of Directors. Effective as of the date the Corporation becomes subject to the reporting
requirements of Rule 13 or 15(d) of the Exchange Act, the Committee shall consist of two or more Outside Directors who shall be appointed
by the Board of Directors. The Board of Directors shall fill vacancies on the Committee and may from time to time remove or add members
of the Committee. The Board of Directors, in its sole discretion, may exercise any authority of the Committee under this Plan in lieu
of the Committee’s exercise thereof, and in such instances references herein to the Committee shall refer to the Board of Directors.

 

(b) Delegation and Administration.
The Committee may delegate to one or more separate committees (any such committee a “Subcommittee”) composed of one or
more directors of the Corporation (who may but need not be members of the Committee) the ability to grant Awards and take the other actions
described in Section 3(c) with respect to Participants who are not executive officers, and such actions shall be treated for all
purposes as if taken by the Committee. The Committee may delegate to a Subcommittee of one or more officers of the Corporation the ability
to grant Awards and take the other actions described in Section 3(c) with respect to Participants (other than any such officers themselves)
who are not directors or executive officers, provided however that the resolution so authorizing such officer(s) shall specify the total
number of Shares, rights or options such Subcommittee may so award, and such actions shall be treated for all purposes as if taken by
the Committee. Any action by any such Subcommittee within the scope of such delegation shall be deemed for all purposes to have been taken
by the Committee, and references in this Plan to the Committee shall include any such Subcommittee. The Committee may delegate the day
to day administration of the Plan to an officer or officers of the Corporation or one or more agents, and such administrator(s) may have
the authority to execute and distribute agreements or other documents evidencing or relating to Awards granted by the Committee under
this Plan, to maintain records relating to the grant, vesting, exercise, forfeiture or expiration of Awards, to process or oversee the
issuance of Shares upon the exercise, vesting and/or settlement of an Award, to interpret the terms of Awards and to take such other actions
as the Committee may specify. Any action by any such administrator within the scope of its delegation shall be deemed for all purposes
to have been taken by the Committee and references in this Plan to the Committee shall include any such administrator, provided that the
actions and interpretations of any such administrator shall be subject to review and approval, disapproval or modification by the Committee.

 

(c) Powers of the Committee.
Subject to the express provisions and limitations set forth in this Plan, the Committee shall be authorized and empowered to do all
things necessary or desirable, in its sole discretion, in connection with the administration of this Plan, including, without limitation,
the following:

 

(i) to prescribe,
amend, and rescind rules and regulations relating to the Plan, including the forms of Award Agreement and manner of acceptance of an Award,
and to take or approve such further actions as it determines necessary or appropriate to the administration of the Plan and Awards, such
as correcting a defect or supplying any omission, or reconciling any inconsistency so that the Plan or any Award Agreement complies with
applicable law, regulations and listing requirements and so as to avoid unanticipated consequences or address unanticipated events (including
any temporary closure of an applicable stock exchange or a national market system upon which Shares are traded, disruption of communications
or natural catastrophe) deemed by the Committee to be inconsistent with the purposes of the Plan or any Award Agreement, provided that
no such action shall be taken absent stockholder approval to the extent required under Section 13;

 

(ii) to determine
which persons are eligible to be Participants, to which of such persons, if any, Awards shall be granted hereunder and the timing of any
such Awards, and to grant Awards;

 

(iii) to grant
Awards to Participants and determine the terms and conditions thereof, including the number of Shares subject to Awards and the exercise
or purchase price of such Shares and the circumstances under which Awards become exercisable or vested or are forfeited or expire, which
terms may but need not be conditioned upon the passage of time, continued employment or service, the satisfaction of performance criteria,
the occurrence of certain events, or other factors;

 

(iv) to establish
or verify the extent of satisfaction of any performance goals or other conditions applicable to the grant, issuance, exercisability, vesting
and/or ability to retain any Award;

 

(v) to prescribe
and amend the terms of the agreements or other documents evidencing Awards made under this Plan (which need not be identical);

 

    2

     

    

 

(vi) to determine
whether, and the extent to which, adjustments are required pursuant to Section 11;

 

(vii) to cancel
any Award, without consideration and without requirement of the consent of the Participant to whom such Award has been granted, in the
event that the Committee has determined that such Award is without any economic value in excess of nominal or par value or prospect of
future value;

 

(viii) to interpret
and construe this Plan, any rules and regulations under this Plan and the terms and conditions of any Award granted hereunder, and to
make exceptions to any such provisions in good faith and for the benefit of the Corporation; and

 

(ix) to make
all other determinations deemed necessary or advisable for the administration of this Plan.

 

(d) Effect of Change
in Status. The Committee shall have the discretion to determine the effect upon an Award and upon an individual’s status as
an employee under the Plan (including whether a Participant shall be deemed to have experienced a termination of employment or other change
in status) and upon the vesting, expiration or forfeiture of an Award in the case of (i) any individual who is employed by an entity
that ceases to be a Subsidiary of the Corporation, (ii) any leave of absence approved by the Corporation or a Subsidiary, (iii) any
transfer between locations of employment with the Corporation or a Subsidiary or between the Corporation and any Subsidiary or between
any Subsidiaries, (iv) any change in the Participant’s status from an employee to a Consultant or member of the Board of Directors,
or vice versa, and (v) at the request of the Corporation or a Subsidiary, any employee who becomes employed by any partnership, joint
venture, corporation or other entity not meeting the requirements of a Subsidiary.

 

(e) Determinations of
the Committee. All decisions, determinations and interpretations by the Committee regarding this Plan shall be final and binding on
all persons. The Committee may consider such factors as it deems relevant to making such decisions, determinations and interpretations
including, without limitation, the recommendations or advice of any director, officer or employee of the Corporation and such attorneys,
consultants and accountants as it may select. Any decision or action by the Committee may be contested only by a Participant or other
holder of an Award and only on the grounds that such decision or action was arbitrary or capricious or was unlawful, and any review of
such decision or action shall be limited to determining whether the Committee’s decision or action was arbitrary or capricious or
was unlawful.

 

4. PARTICIPANTS

 

Awards under the Plan may be
granted to any person who is an employee, Consultant or Outside Director of the Corporation. Outside Directors may be granted Awards only
pursuant to Section 9 of the Plan. The status of the Chairman of the Board of Directors as an employee or Outside Director shall
be determined by the Committee.

 

5. EFFECTIVE DATE AND EXPIRATION OF PLAN

 

(a) Effective Date.
This Plan was approved by the Board of Directors on January 30, 2022 and became effective on                       .

 

(b) Expiration Date.
The Plan shall remain available for the grant of Awards until January 30, 2032 or such earlier date as the Board of Directors may determine;
provided, however, that ISOs (as defined below) may not be granted under the Plan after the 10th anniversary of the date of
the Board of Directors’ most recent approval of the Plan. The expiration of the Committee’s authority to grant Awards under
the Plan will not affect the operation of the terms of the Plan or the Corporation’s and Participants’ rights and obligations
with respect to Awards granted on or prior to the expiration date of the Plan.

 

6. SHARES SUBJECT TO THE PLAN

 

(a) Aggregate Limits.
Subject to adjustment as provided in Section 11, the aggregate number of Shares authorized for issuance pursuant to Awards under
the Plan is                       .
The Shares subject to the Plan may be either Shares reacquired by the Corporation, including Shares purchased in the open market, as
applicable, or authorized but unissued Shares. Any Shares subject to an Award which for any reason expires or terminates unexercised
or is not earned in full may again be made subject to an Award under the Plan. Notwithstanding the preceding sentence, the following
Shares may not again be made available for issuance as Awards under the Plan: (i) Shares not issued or delivered as a result of
the net settlement of an outstanding Stock Appreciation Right, (ii) Shares used to pay the exercise price or withholding taxes related
to an outstanding Award, or (iii) Shares repurchased on the open market, if applicable, with the proceeds of the option exercise
price.

 

(b) Tax Code Limits.
Notwithstanding anything to the contrary in this Plan, the foregoing limitations shall be subject to adjustment under Section 11.
The aggregate number of Shares issued pursuant to incentive stock options granted under the Plan shall not exceed                      , which limitation
shall be subject to adjustment under Section 11 only to the extent that such adjustment is consistent with adjustments permitted
of a plan authorizing incentive stock options under Section 422 of the Code.

 

    3

     

    

 

7. PLAN AWARDS

 

(a) Award Types. The
Committee, on behalf of the Corporation, is authorized under this Plan to grant, award and enter into the following arrangements or benefits
under the Plan provided that their terms and conditions are not inconsistent with the provisions of the Plan: stock options, stock appreciation
rights, restricted stock and restricted stock units. Such arrangements and benefits are sometimes referred to herein as “Awards.”
The Committee, in its discretion, may determine that any Award granted hereunder shall be a Performance Award.

 

(i) Stock
Options. A “Stock Option” is a right to purchase a number of Shares at such exercise price, at such times, and on such
other terms and conditions as are specified in or determined pursuant to the document(s) evidencing the Award (the “Option Agreement”).
The Committee may grant Stock Options intended to be eligible to qualify as incentive stock options (“ISOs”) pursuant to Section 422
of the Code and Stock Options that are not intended to qualify as ISOs (“Non-qualified Stock Options”), as it, in its sole
discretion, shall determine.

 

(ii) Stock
Appreciation Rights. A “Stock Appreciation Right” or “SAR” is a right to receive, in cash or stock (as determined
by the Committee), value with respect to a specific number of Shares equal to or otherwise based on the excess of (i) the market
value of a Share at the time of exercise over (ii) the exercise price of the right, subject to such terms and conditions as are expressed
in the document(s) evidencing the Award (the “SAR Agreement”).

 

(iii) Restricted
Stock. A “Restricted Stock” Award is an award of Shares, the grant, issuance, retention and/or vesting of which is subject
to such conditions as are expressed in the document(s) evidencing the Award (the “Restricted Stock Agreement”).

 

(iv) Restricted
Stock Unit. A “Restricted Stock Unit” Award is an award of a right to receive, in cash or stock (as determined by the
Committee) the market value of one Share, the grant, issuance, retention and/or vesting of which is subject to such conditions as are
expressed in the document(s) evidencing the Award (the “Restricted Stock Unit Agreement”).

 

(b) Grants of Awards.
An Award may consist of one of the foregoing arrangements or benefits or two or more of them in tandem or in the alternative.

 

8. EMPLOYEE, CONSULTANT PARTICIPANT AWARDS

 

(a) Grant, Terms and
Conditions of Stock Options and SARs

 

The Committee may grant Stock
Options or SARs at any time and from time to time prior to the expiration of the Plan to eligible Participants selected by the Committee.
No Participant shall have any rights as a stockholder with respect to any Shares subject to Stock Options or SARs hereunder until said
Shares have been issued. Each Stock Option or SAR shall be evidenced only by such agreements, notices and/or terms or conditions documented
in such form (including by electronic communications) as may be approved by the Committee. Each Stock Option grant will expressly identify
the Stock Option as an ISO or as a Non-qualified Stock Option. Stock Options or SARs granted pursuant to the Plan need not be identical
but each must contain or be subject to the following terms and conditions:

 

(i) Price.
The purchase price (also referred to as the exercise price) under each Stock Option or SAR granted hereunder shall be established
by the Committee. The purchase price per Share shall not be less than 100% of the market value of a Share on the date of grant. The exercise
price of a Stock Option shall be paid in cash or in such other form if and to the extent permitted by the Committee, including without
limitation by delivery of already owned Shares, withholding (either actually or by attestation) of Shares otherwise issuable under such
Stock Option and/or by payment under a broker-assisted sale and remittance program acceptable to the Committee.

 

(ii) No Repricing.
Other than in connection with a change in the Corporation’s capitalization or other transaction as described in Section 11(a) through
(d) of the Plan, the Corporation shall not, without stockholder approval, reduce the purchase price of a Stock Option or SAR and, at any
time when the purchase price of a Stock Option or SAR is above the market value of a Share, the Corporation shall not, without stockholder
approval (except in the case of a transaction described in Section 11(a) through (d) of the Plan), cancel and re-grant or exchange such
Stock Option or SAR for a new Award with a lower (or no) purchase price or for cash.

 

    4

     

    

 

(iii) No
Reload Grants. Stock Options shall not be granted under the Plan in consideration for and shall not be conditioned upon the delivery
of Shares to the Corporation in payment of the exercise price and/or tax withholding obligation under any other stock option.

 

(iv) Duration,
Exercise and Termination of Stock Options and SARs. Each Stock Option or SAR shall be exercisable at such time and in such installments
during the period prior to the expiration of the Stock Option or SAR as determined by the Committee. The Committee shall have the right
to make the timing of the ability to exercise any Stock Option or SAR subject to continued employment or service, the passage of time
and/or such performance requirements as deemed appropriate by the Committee. At any time after the grant of a Stock Option, the Committee
may reduce or eliminate any restrictions on the Participant’s right to exercise all or part of the Stock Option.

 

Each Stock Option
or SAR must expire within a period of not more than ten (10) years from the grant date. In each case, the Option Agreement or SAR
Agreement may provide for expiration prior to the end of the stated term of the Award in the event of the termination of employment or
service of the Participant to whom it was granted.

 

(v) Suspension
or Termination of Stock Options and SARs. If at any time (including after a notice of exercise has been delivered) the Committee,
including any Subcommittee or administrator authorized pursuant to Section 3(b) (any such person, an “Authorized Officer”),
reasonably believes that a Participant, other than an Outside Director, has committed an act of misconduct as described in this Section,
the Authorized Officer may suspend the Participant’s right to exercise any Stock Option or SAR pending a determination of whether
an act of misconduct has been committed. If the Committee or an Authorized Officer determines a Participant, other than an Outside Director,
has committed an act of embezzlement, fraud, dishonesty, nonpayment of any obligation owed to the Corporation, breach of fiduciary duty
or deliberate disregard of Corporation rules resulting in loss, damage or injury to the Corporation, or if a Participant makes an unauthorized
disclosure of any Corporation trade secret or confidential information, engages in any conduct constituting unfair competition, induces
any customer to breach a contract with the Corporation or induces any principal for whom the Corporation acts as agent to terminate such
agency relationship, the Committee or an Authorized Officer may determine that neither the Participant nor his or her estate shall be
entitled to exercise any Stock Option or SAR whatsoever. In addition, for any Participant who is designated as an “executive officer”
by the Board of Directors, if the Committee determines that the Participant engaged in an act of embezzlement, fraud or breach of fiduciary
duty during the Participant’s employment that contributed to an obligation to restate the Corporation’s financial statements
(“Contributing Misconduct”), the Committee may require the Participant to repay to the Corporation, in cash and upon demand,
the Option Proceeds (as defined below) resulting from any sale or other disposition (including to the Corporation) of Shares issued or
issuable upon exercise of a Stock Option or SAR if the sale or disposition was effected during the twelve-month period following the first
public issuance or filing with the SEC of the financial statements required to be restated. The term “Option Proceeds” means,
with respect to any sale or other disposition (including to the Corporation) of Shares issuable or issued upon exercise of a Stock Option
or SAR, an amount determined appropriate by the Committee to reflect the effect of the restatement, up to the amount equal to the number
of Shares sold or disposed of multiplied by the difference between the market value per Share at the time of such sale or disposition
and the exercise price. The return of Option Proceeds is in addition to and separate from any other relief available to the Corporation
due to the executive officer’s Contributing Misconduct. Any determination by the Committee or an Authorized Officer with respect
to the foregoing shall be final, conclusive and binding on all interested parties. For any Participant who is an executive officer, the
determination of the Committee or of the Authorized Officer shall be subject to the approval of the Board of Directors.

 

(vi) Conditions
and Restrictions Upon Securities Subject to Stock Options or SARs. Subject to the express provisions of the Plan, the Committee
may provide that the Shares issued upon exercise of a Stock Option or SAR shall be subject to such further conditions or agreements
as the Committee in its discretion may specify prior to the exercise of such Stock Option or SAR, including, without limitation,
conditions on vesting or transferability, forfeiture or repurchase provisions. The obligation to make payments with respect to SARs
may be satisfied through cash payments or the delivery of Shares, or a combination thereof as the Committee shall determine. The
Committee may establish rules for the deferred delivery of Common Stock upon exercise of a Stock Option or SAR with the deferral
evidenced by use of Restricted Stock Units equal in number to the number of Shares whose delivery is so deferred.

 

(vii) Other
Terms and Conditions. Stock Options and SARs may also contain such other provisions, which shall not be inconsistent with any of the
foregoing terms, as the Committee shall deem appropriate.

 

    5

     

    

 

(viii) ISOs.
Stock Options intending to qualify as ISOs may only be granted to employees of the Corporation within the meaning of the Code, as
determined by the Committee. No ISO shall be granted to any person if immediately after the grant of such Award, such person would own
stock, including stock subject to outstanding Awards held by him or her under the Plan or any other plan established by the Corporation,
amounting to more than ten percent (10%) of the total combined voting power or value of all classes of stock of the Corporation. To the
extent that the Option Agreement specifies that a Stock Option is intended to be treated as an ISO, the Stock Option is intended to qualify
to the greatest extent possible as an “incentive stock option” within the meaning of Section 422 of the Code, and shall
be so construed; provided, however, that any such designation shall not be interpreted as a representation, guarantee or other undertaking
on the part of the Corporation that the Stock Option is or will be determined to qualify as an ISO. If and to the extent that any Shares
are issued under a portion of any Stock Option that exceeds the $100,000 limitation of Section 422 of the Code, such Shares shall
not be treated as issued under an ISO notwithstanding any designation otherwise. Certain decisions, amendments, interpretations and actions
by the Committee and certain actions by a Participant may cause a Stock Option to cease to qualify as an ISO pursuant to the Code and
by accepting a Stock Option the Participant agrees in advance to such disqualifying action.

 

(b) Grant, Terms and
Conditions of Restricted Stock and Restricted Stock Units

 

The Committee may grant Restricted
Stock or Restricted Stock Units at any time and from time to time prior to the expiration of the Plan to eligible Participants selected
by the Committee. A Participant shall have rights as a stockholder with respect to any Shares subject to a Restricted Stock Award hereunder
only to the extent specified in this Plan or the Restricted Stock Agreement evidencing such Award. Awards of Restricted Stock or Restricted
Stock Units shall be evidenced only by such agreements, notices and/or terms or conditions documented in such form (including by electronic
communications) as may be approved by the Committee. Awards of Restricted Stock or Restricted Stock Units granted pursuant to the Plan
need not be identical but each must contain or be subject to the following terms and conditions:

 

(i) Terms
and Conditions. Each Restricted Stock Agreement and each Restricted Stock Unit Agreement shall contain provisions regarding (a) the
number of Shares subject to such Award or a formula for determining such, (b) the purchase price of the Shares, if any, and the means
of payment for the Shares, (c) the performance criteria, if any, and level of achievement versus these criteria that shall determine
the number of Shares granted, issued, retainable and/or vested, (d) such terms and conditions on the grant, issuance, vesting and/or
forfeiture of the Shares as may be determined from time to time by the Committee, (e) restrictions on the transferability of the
Shares and (f) such further terms and conditions as may be determined from time to time by the Committee, in each case not inconsistent
with this Plan.

 

(ii) Sale
Price. Subject to the requirements of applicable law, the Committee shall determine the price, if any, at which Shares of Restricted
Stock or Restricted Stock Units shall be sold or awarded to a Participant, which may vary from time to time and among Participants and
which may be below the market value of such Shares at the date of grant or issuance.

 

(iii) Share
Vesting. The grant, issuance, retention and/or vesting of Shares under Restricted Stock or Restricted Stock

Unit Awards shall be at such time and in such installments
as determined by the Committee or under criteria established by the Committee. The Committee shall have the right to make the timing of
the grant and/or the issuance, the ability to retain and/or the vesting of Shares under Restricted Stock or Restricted Stock Unit Awards
subject to the Participant’s continued employment or service, passage of time and/or such performance criteria and level of achievement
versus these criteria, as deemed appropriate by the Committee, which criteria may be based on financial performance and/or personal performance
evaluations. No condition that is based on performance criteria and level of achievement versus such criteria shall be based on performance
over a period of less than one year.

 

(iv) Termination
of Employment/Service. The Restricted Stock or Restricted Stock Unit Agreement may provide for the forfeiture or cancellation of the
Restricted Stock or Restricted Stock Unit Award, in whole or in part, in the event of the termination of employment or service of the
Participant to whom it was granted.

 

(v) Restricted
Stock Units. Except to the extent this Plan or the Committee specifies otherwise, Restricted Stock Units represent an unfunded and
unsecured obligation of the Corporation and do not confer any of the rights of a stockholder until Shares are issued thereunder. Settlement
of Restricted Stock Units upon expiration of the deferral or vesting period shall be made in Shares or otherwise as determined by the
Committee. Dividends or dividend equivalent rights shall be payable in cash or in additional shares with respect to Restricted Stock Units
only to the extent specifically provided for by the Committee and subject to the limitations of Section 10(c). Until a Restricted Stock
Unit is settled, the number of Shares represented by a Restricted Stock Unit shall be subject to adjustment pursuant to Section 11.
Any Restricted Stock Units that are settled after the Participant’s death shall be distributed to the Participant’s designated
beneficiary(ies) or, if none was designated, the Participant’s estate.

 

    6

     

    

 

(vi) Suspension
or Termination of Restricted Stock and Restricted Stock Units. If at any time the Committee, including any Subcommittee or administrator
authorized pursuant to Section 3(b) (any such person, an “Authorized Officer”), reasonably believes that a Participant, other
than an Outside Director, has committed an act of misconduct as described in this Section, the Authorized Officer may suspend the vesting
of Shares under the Participant’s Restricted Stock or Restricted Stock Unit Awards pending a determination of whether an act of
misconduct has been committed. If the Committee or an Authorized Officer determines a Participant, other than an Outside Director, has
committed an act of embezzlement, fraud, dishonesty, nonpayment of any obligation owed to the Corporation, breach of fiduciary duty or
deliberate disregard of Corporation rules resulting in loss, damage or injury to the Corporation, or if a Participant makes an unauthorized
disclosure of any Corporation trade secret or confidential information, engages in any conduct constituting unfair competition, induces
any customer to breach a contract with the Corporation or induces any principal for whom the Corporation acts as agent to terminate such
agency relationship, the Committee or an Authorized Officer may determine that the Participant’s Restricted Stock or Restricted
Stock Unit Agreement shall be forfeited and cancelled. In addition, for any Participant who is designated as an “executive officer”
by the Board of Directors, if the Committee determines that the Participant engaged in an act of embezzlement, fraud or breach of fiduciary
duty during the Participant’s employment that contributed to an obligation to restate the Corporation’s financial statements
(“Contributing Misconduct”), the Committee may require the Participant to repay to the Corporation, in cash and upon demand,
the Restricted Stock Proceeds (as defined below) resulting from any sale or other disposition (including to the Corporation) of Shares
issued or issuable upon the vesting of Restricted Stock or a Restricted Stock Unit if the sale or disposition was effected during the
twelve-month period following the first public issuance or filing with the SEC of the financial statements required to be restated. The
term “Restricted Stock Proceeds” means, with respect to any sale or other disposition (including to the Corporation) of Shares
issued or issuable upon vesting of Restricted Stock or a Restricted Stock Unit, an amount determined appropriate by the Committee to reflect
the effect of the restatement, up to the amount equal to the market value per Share at the time of such sale or other disposition multiplied
by the number of Shares or units sold or disposed of. The return of Restricted Stock Proceeds is in addition to and separate from any
other relief available to the Corporation due to the executive officer’s Contributing Misconduct. Any determination by the Committee
or an Authorized Officer with respect to the foregoing shall be final, conclusive and binding on all interested parties. For any Participant
who is an executive officer, the determination of the Committee or of the Authorized Officer shall be subject to the approval of the Board
of Directors.

 

9. OUTSIDE DIRECTOR AWARDS

 

The number of Awards granted
to each Outside Director in a fiscal year of the Corporation (“Outside Director Awards”) is limited, so that the grant date
fair value of all Outside Director Awards granted by the Board of Directors combined with all cash-based compensation earned in the same
fiscal year, may not exceed $500,000. Notwithstanding anything to the contrary in this Plan, the foregoing limitation shall be subject
to adjustment under Section 11. The number of Shares subject to each Outside Director Award, or the formula pursuant to which such
number shall be determined, the type or types of Awards included in the Outside Director Awards, the date of grant and the vesting, expiration
and other terms applicable to such Outside Director Awards shall be specified from time to time by the Board of Directors, subject to
the terms of this Plan, including the terms specified in Section 8. If the Board of Directors reasonably believes that an Outside
Director has committed an act of misconduct as specified in Section 8(a)(v) or 8(b)(vi), the Board of Directors may suspend the Outside
Director’s right to exercise any Stock Option or SAR and/or the vesting of any Restricted Stock or Restricted Stock Unit Award pending
a determination of whether an act of misconduct has been committed. If the Board of Directors determines that an Outside Director has
committed an act of misconduct, neither the Outside Director nor his or her estate shall be entitled to exercise any Stock Option or SAR
whatsoever and shall forfeit any unvested Restricted Stock or Restricted Stock Unit Award.

 

10.  OTHER PROVISIONS APPLICABLE TO AWARDS

 

(a) Transferability.
Unless the agreement or other document evidencing an Award (or an amendment thereto authorized by the Committee) expressly states
that the Award is transferable as provided hereunder, no Award granted under this Plan, nor any interest in such Award, may be sold, assigned,
conveyed, gifted, pledged, hypothecated or otherwise transferred in any manner, other than by will or the laws of descent and distribution
or as permitted by Rule 701 of the Securities Act of 1933. Further, until the Corporation becomes subject to the reporting requirements
of Section 13 or 15(d) of the Exchange Act, or after the Board of Directors or the Committee, as applicable, determines that it is, will,
or may no longer be relying upon the exemption from registration under the Exchange Act as set forth in Rule 12h-1(f) promulgated under
the Exchange Act, an Option, or prior to exercise, the Shares subject to the Option, may not be pledged, hypothecated or otherwise transferred
or disposed of, in any manner, including by entering into any short position, any “put equivalent position” or any “call
equivalent position” (as defined in Rule 16a-1(h) and Rule 16a-1(b) of the Exchange Act, respectively), other than to (i) persons
who are “family members” (as defined in Rule 701(c)(3) of the Securities Act) through gifts or domestic relations orders,
or (ii) to an executor or guardian of the Participant upon the death or disability of the Participant..

 

    7

     

    

 

(b)  Performance Criteria.
For purposes of this Plan, the term “Performance Criteria” shall mean any one or more of the following performance criteria
or any other performance criteria, either individually, alternatively or in any combination, applied to either the Corporation as a whole
or to a business unit or Subsidiary, either individually, alternatively or in any combination, and measured either annually or cumulatively
over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated
comparison group, on a U.S. generally accepted accounting principles (“GAAP”) or non-GAAP basis, in each case as specified
by the Committee in the Award: (a) cash flow, (b) earnings per share, (c) earnings before one or more of interest, taxes,
depreciation and amortization, (d) return on equity, (e) total stockholder return, (f) share price performance, (g) return
on capital, (h) return on assets or net assets, (i) revenue, (j) income or net income, (k) operating income or net
operating income, (l) operating profit or net operating profit, (m) gross margin, operating margin or profit margin, (n) return
on operating revenue, (o) return on invested capital, (p) market segment share, (q) product release schedules, (r) new
product innovation, (s) product cost reduction through advanced technology, (t) brand recognition/acceptance, (u) product
ship targets, or (v) customer satisfaction. The Committee may appropriately adjust any evaluation of performance under a Performance
Criteria to exclude any of the following events that occurs during a performance period: (i) asset write-downs, (ii) litigation
or claim judgments or settlements, (iii) the effect of changes in or provisions under tax law, accounting principles or other such
laws or provisions affecting reported results, (iv) accruals for reorganization and restructuring programs, (v) any infrequently
occurring or other unusual items, either under applicable accounting provisions or described in management’s discussion and analysis
of financial condition and results of operations appearing in the Corporation’s annual report to stockholders for the applicable
year, and (vi) any other events as the Committee shall deem appropriate, if such adjustment is timely approved in connection with the
establishment of Performance Criteria. Notwithstanding satisfaction of any completion of any Performance Criteria, to the extent specified
at the time of grant of an Award, the number of Shares, Stock Options, SARs, Restricted Stock Units or other benefits granted, issued,
retainable and/or vested under an Award on account of satisfaction of such Performance Criteria may be reduced by the Committee on the
basis of such further considerations as the Committee in its sole discretion shall determine.

 

(c) Dividends. Unless
otherwise provided by the Committee, no adjustment shall be made in Shares issuable under Awards on account of cash dividends that may
be paid or other rights that may be issued to the holders of Shares prior to their issuance under any Award. The Committee shall specify
whether dividends or dividend equivalent amounts shall be credited and/or payable to any Participant with respect to the Shares subject
to any Award; provided, however, that in no event will dividends or dividend equivalents be credited or payable in respect of Stock Options
or SARs. Notwithstanding the foregoing, dividends or dividend equivalents credited/payable in connection with an Award that is not yet
vested shall be subject to the same restrictions and risk of forfeiture as the underlying Award and shall not be paid until the underlying
Award vests.

 

(d) Documents Evidencing
Awards. The Committee shall, subject to applicable law, determine the date an Award is deemed to be granted. The Committee or, except
to the extent prohibited under applicable law, its delegate(s) may establish the terms of agreements or other documents evidencing Awards
under this Plan and may, but need not, require as a condition to any such agreement’s or document’s effectiveness that such
agreement or document be executed by the Participant, including by electronic signature or other electronic indication of acceptance,
and that such Participant agree to such further terms and conditions as specified in such agreement or document. The grant of an Award
under this Plan shall not confer any rights upon the Participant holding such Award other than such terms, and subject to such conditions,
as are specified in this Plan as being applicable to such type of Award (or to all Awards) or as are expressly set forth in the agreement
or other document evidencing such Award.

 

(e) Additional Restrictions
on Awards. 

 

(i) Either at
the time an Award is granted or by subsequent action, the Committee may, but need not, impose such restrictions, conditions or
limitations as it determines appropriate as to the timing and manner of any resales by a Participant or other subsequent transfers
by a Participant of any Shares issued under an Award, including without limitation (a) restrictions under an insider trading
policy, (b) restrictions designed to delay and/or coordinate the timing and manner of sales by the Participant or Participants,
and (c) restrictions as to the use of a specified brokerage firm for receipt, resales or other transfers of such Shares.

 

(ii)
In connection with an initial offering of the Corporation’s Shares pursuant to a registration statement filed by the Corporation
with the Securities and Exchange Commission and upon request of the Corporation or the underwriters managing such offering of the Corporation’s
securities, Participants shall not sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any
securities of the Corporation however or whenever acquired (other than those included in the registration) without the prior written consent
of the Corporation or such underwriters, as the case may be, for such period of time (not to exceed 180 days) from the effective date
of such registration as may be requested by the Corporation or such managing underwriters and Participant shall execute an agreement reflecting
the foregoing as may be requested by the underwriters in connection with such offering. Notwithstanding the foregoing, if during the last
17 days of the restricted period, the Corporation issues an earnings release or material news or a material event relating to the Corporation
occurs, or prior to the expiration of the restricted period the Corporation announces that it will release earnings results during the 16-day period
beginning on the last day of the restricted period, then, upon the request of the managing underwriter, to the extent required by any
Financial Industry Regulatory Authority rules, the restrictions imposed by this subsection shall continue to apply until the end of the
third trading day following the expiration of the 15-day period beginning on the issuance of the earnings release or the occurrence
of the material news or material event. In no event will the restricted period extend beyond 216 days after the effective date of the
registration statement.

 

    8

     

    

 

(f) Subsidiary Awards.
In the case of a grant of an Award to any Participant employed by or providing services to a Subsidiary, such grant may, if the Committee
so directs, be implemented by the Corporation issuing any subject Shares to the Subsidiary, for such lawful consideration as the Committee
may determine, upon the condition or understanding that the Subsidiary will transfer the Shares to the Participant in accordance with
the terms of the Award specified by the Committee pursuant to the provisions of the Plan. Notwithstanding any other provision hereof,
such Award may be issued by and in the name of the Subsidiary and shall be deemed granted on such date as the Committee shall determine.

 

(g) Compensation Recovery.
This provision applies to any policy adopted by any exchange on which the securities of the Corporation are listed pursuant to Section
10D of the Exchange Act, as applicable. To the extent any such policy requires the repayment of incentive-based compensation received
by a Participant, whether paid pursuant to an Award granted under this Plan or any other plan of incentive-based compensation maintained
in the past or adopted in the future by the Corporation, by accepting an Award under this Plan, the Participant agrees to the repayment
of such amounts to the extent required by such policy and applicable law.

 

11. ADJUSTMENT OF AND CHANGES IN THE COMMON STOCK

 

(a) The existence of outstanding
Awards shall not affect in any way the right or power of the Corporation or its shareholders to make or authorize any or all adjustments,
recapitalizations, reorganizations, exchanges, or other changes in the Corporation’s capital structure or its business, or any merger
or consolidation of the Corporation or any issuance of Shares or other securities or subscription rights thereto, or any issuance of bonds,
debentures, preferred or prior preference stock ahead of or affecting the Shares or other securities of the Corporation or the rights
thereof, or the dissolution or liquidation of the Corporation, or any sale or transfer of all or any part of its assets or business, or
any other corporate act or proceeding, whether of a similar character or otherwise. Further, except as expressly provided herein or by
the Committee, (i) the issuance by the Corporation of shares of stock or any class of securities convertible into shares of stock
of any class, for cash, property, labor or services, upon direct sale, upon the exercise of rights or warrants to subscribe therefor,
or upon conversion of shares or obligations of the Corporation convertible into such shares or other securities, (ii) the payment
of a dividend in property other than Shares, or (iii) the occurrence of any similar transaction, and in any case whether or not for
fair value, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number of Shares subject to Stock
Options or other Awards theretofore granted or the purchase price per Share, unless the Committee shall determine, in its sole discretion,
that an adjustment is necessary or appropriate provided, however, that the Administrator will make such adjustments to an Award required
by Section 25102(o) of the California Corporations Code to the extent the Corporation is relying upon the exemption afforded thereby with
respect to the Award.

 

(b) If the
outstanding Shares or other securities of the Corporation, or both, for which the Award is then exercisable or as to which the Award
is to be settled shall at any time be changed or exchanged by declaration of a stock dividend, stock split, combination of shares,
extraordinary dividend of cash and/or assets, recapitalization, reorganization or any similar equity restructuring transaction (as
that term is used in Accounting Standards Codification 718) affecting the Shares or other securities of the Corporation, the
Committee shall equitably adjust the number and kind of Shares or other securities that are subject to this Plan and to the limits
under Sections 6 and 9 and that are subject to any Awards theretofore granted, and the exercise or settlement prices of such
Awards, so as to maintain the proportionate number of Shares or other securities subject to such Awards without changing the
aggregate exercise or settlement price, if any.

 

(c) No right to purchase
fractional Shares shall result from any adjustment in Stock Options or SARs pursuant to this Section 11. In case of any such adjustment,
the Shares subject to the Stock Option or SAR shall be rounded down to the nearest whole share.

 

(d) Any other provision
hereof to the contrary notwithstanding (except Section 11(a)), in the event the Corporation is a party to a merger or other reorganization,
outstanding Awards shall be subject to the agreement of merger or reorganization. Such agreement may provide, without limitation, for
the assumption of outstanding Awards by the surviving corporation or its parent, for their continuation by the Corporation (if the Corporation
is a surviving corporation), for accelerated vesting and accelerated expiration, or for settlement in cash.

 

    9

     

    

 

12. LISTING OR QUALIFICATION OF COMMON STOCK

 

In the event that the Committee
determines in its discretion that the listing or qualification of the Shares available for issuance under the Plan on any securities exchange
or quotation or trading system or under any applicable law or governmental regulation is necessary as a condition to the issuance of such
Shares, a Stock Option or SAR may not be exercised in whole or in part and a Restricted Stock or Restricted Stock Unit Award shall not
vest or be settled unless such listing, qualification, consent or approval has been unconditionally obtained.

 

13. TERMINATION OR AMENDMENT OF THE PLAN

 

The Board of Directors may amend,
alter or discontinue the Plan and the Board of Directors or the Committee may to the extent permitted by the Plan amend any agreement
or other document evidencing an Award made under this Plan, including pursuant to Section 3(c)(vii), provided, however, that the Corporation
shall submit for stockholder approval any amendment (other than an amendment pursuant to the adjustment provisions of Section 11) required
to be submitted for stockholder approval by an applicable stock exchange or a national market system upon which Shares are traded or that
otherwise would:

 

(a) Increase the maximum number of
Shares for which Awards may be granted under this Plan;

 

(b) Reduce the price at which Stock
Options may be granted below the price provided for in Section 8(a);

 

(c) Reduce the option price of outstanding
Stock Options;

 

(d) Extend the term of this Plan;

 

(e) Change the class of persons eligible
to be Participants; or

 

(f) Increase the limits in Section 6.

 

In addition, no such amendment
or alteration shall be made which would impair the rights of any Participant, without such Participant’s consent, under any Award
theretofore granted, provided that no such consent shall be required with respect to any amendment or alteration made pursuant to Section
3(c)(vii) or if the Committee otherwise determines in its sole discretion that such amendment or alteration either (i) is required
or advisable in order for the Corporation, the Plan or the Award to satisfy or conform to any law or regulation or to meet the requirements
of any accounting standard, or (ii) is not reasonably likely to significantly diminish the benefits provided under such Award, or
that any such diminishment has been adequately compensated.

 

14. WITHHOLDING

 

To the extent required by
applicable federal, state, local or foreign law, the Committee may and/or a Participant shall make arrangements satisfactory to the
Corporation for the satisfaction of any withholding tax obligations that arise with respect to any Stock Option, SAR, Restricted
Stock or Restricted Stock Unit Award, or any sale of Shares. The Corporation shall not be required to issue Shares or to recognize
the disposition of such Shares until such obligations are satisfied. To the extent permitted or required by the Committee, these
obligations may or shall be satisfied by having the Corporation withhold a portion of the Shares of stock that otherwise would be
issued to a Participant under such Award or by tendering Shares previously acquired by the Participant equal to an amount no greater
than the maximum statutory tax rate applicable to such Participant in all relevant jurisdictions, and in all cases reduced by the
amount of any withholding obligation a Participant satisfies by cash payment to the Corporation.

 

15. GENERAL PROVISIONS

 

(a) Employment At Will.
Neither the Plan nor the grant of any Award nor any action by the Corporation, any Subsidiary or the Committee shall be held or construed
to confer upon any person any right to be continued in the employ of or service to the Corporation or a Subsidiary. The Corporation and
each Subsidiary expressly reserve the right to discharge, without liability but subject to his or her rights under this Plan, any Participant
whenever in the sole discretion of the Corporation or a Subsidiary, as the case may be, it may determine to do so.

 

(b) Governing Law. This
Plan and any agreements or other documents hereunder shall be interpreted and construed in accordance with the laws of the State of Delaware
and applicable federal law. The Committee may provide that any dispute as to any Award shall be presented and determined in such forum
as the Committee may specify, including through binding arbitration. Any reference in this Plan or in the agreement or other document
evidencing any Award to a provision of law or to a rule or regulation shall be deemed to include any successor law, rule or regulation
of similar effect or applicability.

 

    10

     

    

 

(c) Unfunded Plan. Insofar
as it provides for Awards, the Plan shall be unfunded. Although bookkeeping accounts may be established with respect to Participants who
are granted Awards under this Plan, any such accounts will be used merely as a bookkeeping convenience. The Corporation shall not be required
to segregate any assets which may at any time be represented by Awards, nor shall this Plan be construed as providing for such segregation,
nor shall the Corporation or the Committee be deemed to be a trustee of stock or cash to be awarded under the Plan.

 

(d) Third Party Administrator.
In connection with a Participant’s participation in the Plan, the Corporation may use the services of a third party administrator,
including a brokerage firm administrator, and the Corporation may provide this administrator with personal information about a Participant,
including a Participant’s name, social security number and address, as well as the details of each Award, and this administrator
may provide information to the Corporation concerning the exercise of a Participant’s rights and account data as it relates to Awards
under the Plan.

 

(e) Investment Representations.
As a condition to the exercise of an Award, the Corporation may require the person exercising such Award to represent and warrant at the
time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute
such Shares if, in the opinion of counsel for the Corporation, such a representation is required.

 

16. NON-EXCLUSIVITY OF PLAN

 

Neither the adoption of this
Plan by the Board of Directors nor the submission of this Plan to the shareholders of the Corporation for approval shall be construed
as creating any limitations on the power of the Board of Directors or the Committee to adopt such other incentive arrangements as either
may deem desirable, including, without limitation, the granting of stock options, stock appreciation rights, restricted stock or restricted
stock units otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases.

 

17. COMPLIANCE WITH OTHER LAWS AND REGULATIONS

 

This Plan, the grant and exercise
of Awards thereunder, and the obligation of the Corporation to sell, issue or deliver Shares under such Awards, shall be subject to all
applicable federal, state and local laws, rules and regulations and to such approvals by any governmental or regulatory agency as may
be required. The Corporation shall not be required to register in a Participant’s name or deliver any Shares prior to the completion
of any registration or qualification of such Shares under any federal, state or local law or any ruling or regulation of any government
body which the Committee shall determine to be necessary or advisable. To the extent the Corporation is unable to or the Committee deems
it infeasible to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Corporation’s counsel
to be necessary or advisable for the lawful issuance and sale of any Shares hereunder, the Corporation shall be relieved of any liability
with respect to the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. No Stock Option
shall be exercisable and no Shares shall be issued and/or transferable under any other Award unless a registration statement with respect
to the Shares underlying such Stock Option is effective and current or the Corporation has determined that such registration is unnecessary.

 

18. LIABILITY OF CORPORATION

 

The Corporation shall not be
liable to a Participant or other persons as to: (a) the non-issuance or sale of Shares as to which the Corporation has been unable
to obtain from any regulatory body having jurisdiction the authority deemed by the Corporation’s counsel to be necessary to the
lawful issuance and sale of any Shares hereunder; and (b) any tax consequence expected, but not realized, by any Participant or other
person due to the receipt, exercise or settlement of any Stock Option or other Award granted hereunder.

 

    11

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