Document:

Exhibit 4.1

 

MARIS TECH LTD.

LETTER OF INDEMNIFICATION

 

Dated ________

 

Dear ________,

 

This letter agreement (“Letter”) is provided to
you in recognition that it is in the best interests of Maris Tech Ltd. (“Company”) to provide hereunder for your indemnification
to the fullest extent permitted by law.

 

		1.	The
Company hereby undertakes to indemnify you to the maximum extent permitted by applicable law in respect of the following:

 

		1.1	any
financial obligation imposed on you in favor of another person by a court judgment, including a settlement or an arbitrator’s award
approved by court, in respect of any act or omission (“action”) taken or made by you in your capacity as a director
or officer of the Company, including without limitation, but subject to § ‎2 below, any amount reasonably incurred or suffered
by you in connection with such an action; and

 

	 	1.2	all reasonable litigation expenses, including attorneys’ fees, expended by you or charged to you by a court, in a proceeding instituted against you by the Company or on its behalf or by another person, or in any criminal proceedings in which you are acquitted, or in any criminal proceedings of a crime which does not require proof of mens rea (criminal thought) in which you are convicted, all in respect of actions taken by you in your capacity as a director or officer of the Company.

 

		2.	Notwithstanding
§ ‎1 above, the Company will not indemnify you for any amount you may be obligated to pay in respect of:

 

	 	2.1	a breach of your duty of loyalty, except, to the extent permitted by law, for a breach of your duty of loyalty to the Company or a Subsidiary while acting in good faith and having reasonable cause to assume that such act would not prejudice the interests of the Company or Subsidiary, as applicable;

 

	 	2.2	a willful breach of your duty of care or reckless disregard for the circumstances or to the consequences of a breach of your duty of care;

 

	 	2.3	an action taken or not taken with the intent of unlawfully realizing personal gain;

 

	 	2.4	a fine or penalty imposed upon you;

 

	 	2.5	With respect to proceedings or claims initiated or brought voluntarily by you other than by way of defense or by way of third-party notice to the Company in connection with claims brought against you, except in specific cases in which the Board of Directors of the Company has approved the initiation or bringing of such suit, which approval shall not be unreasonably withheld;

 

		3.	To
the fullest extent permitted by law, the Company will make available all amounts needed in accordance with § ‎1 above on
the date on which such amounts are first payable by you (“Time of Indebtedness”), and with respect to items referred
to in § ‎1.2 above, even prior to a court decision, provided however, that advances given to cover legal expenses in criminal
proceedings will be repaid by you to the Company if you are found guilty of a crime which requires mens rea. Other advances
will be repaid by you to the Company if it is determined that you are not entitled to such indemnification as authorized hereby.

 

As part of the aforementioned undertaking, the Company will
make available to you any security or guarantee that you may be required to post in accordance with an interim decision given by a court
or an arbitrator, including for the purpose of substituting liens imposed on your assets.

 

     

     

    

 

		4.	The
Company will indemnify you even if at the relevant Time of Indebtedness, you are no longer a director or officer of the Company or of
a Subsidiary, as applicable, provided, that the obligations are in respect of actions taken by you while you were a director or officer,
and in such capacity.

 

		5.	The
Company’s undertaking to indemnify you for the expenses mentioned in § ‎1.2 above (pursuant and subject to § ‎3
above and insofar as indemnification with respect thereto is not restricted by law or by the provisions of § ‎2 above)
and for the matters mentioned in Section ‎1.1 above shall apply only insofar as such expenses or matters result from your actions
in the following matters or in connection therewith:

 

		5.1	The
offering of securities by the Company or by a shareholder to the public or to private investors or the offer by the Company to purchase
securities from the public or from private investors or other holders pursuant to a prospectus, agreement, notice, report, tender or
other proceeding;

 

	 	5.2	Occurrences in connection with investments the Company or Subsidiaries make in other corporations whether before or after the investment is made, entering into the transaction, the execution, development and monitoring thereof, including actions taken by you in the name of the Company or a Subsidiary as a director, officer or board observer of the corporation which is the subject of the transaction and the like;

 

	 	5.3	The sale, purchase and holding of negotiable securities or other investments for or in the name of the Company or a Subsidiary;

 

		5.4	Actions
in connection with the merger of the Company or a Subsidiary with or into another entity;

 

		5.5	Actions
in connection with the sale of the operations or business, or part thereof, of the Company or a Subsidiary;

 

	 	5.6	Without derogating from the generality of the above, actions in connection with the purchase or sale of companies, legal entities or assets, and the division or consolidation thereof;

 

	 	5.7	Actions taken in connection with labor relations or employment matters in the Company or the Subsidiaries and trade relations of the Company or the Subsidiaries, including with employees, independent contractors, customers, suppliers and various service providers;

 

	 	5.8	Actions in connection with the development or testing of products developed by the Company or the Subsidiaries, or in connection with the distribution, sale, license or use of such products, including without limitation in connection with professional liability and product liability claims;

 

	 	5.9	Actions taken in connection with the intellectual property of the Company or the Subsidiaries, and its protection, including the registration or assertion of rights to intellectual property and the defense of claims related to intellectual property, including any assertion that the Company’s products infringe on the intellectual property rights or constitute a misappropriation of any third party’s trade secrets;

 

	 	5.10	Actions taken pursuant to or in accordance with the policies and procedures of the Company or the Subsidiaries (including tax policies and procedures), whether such policies and procedures are published or not;

 

	 	5.11	Approval of corporate actions, in good faith, including the approval of the acts of the Company’s management, their guidance and their supervision.

 

	 	5.12	Claims of failure to exercise business judgment and a reasonable level of proficiency, expertise and care in regard of the Company’s business;

 

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	 	5.13	Violations of laws requiring the Company to obtain regulatory and governmental licenses, permits and authorizations in any jurisdiction; and
	 	 	 
	 	5.14	Claims in connection with publishing or providing any information, including any filings with governmental authorities, on behalf of the Company in the circumstances required under applicable laws.

 

		6.	The
total aggregate amount of indemnification for which the Company undertakes to indemnify you hereunder, for all of the matters and circumstances
described herein (cumulative), shall not exceed an amount equal to US$ 5,000,000 in the aggregate, calculated with respect to each director
and officer of the Company.

 

		7.	The
Company will not indemnify you for any liability with respect to which you have received payment by virtue of an insurance policy or
another indemnification agreement other than for amounts which are in excess of the amounts actually paid to you pursuant to any such
insurance policy or other indemnity agreement (including deductible amounts not covered by insurance policies), within the limits set
forth in § ‎6 above.

 

		8.	Subject
to the provisions of §§ ‎6 and ‎7 above, the indemnification hereunder will, in each case, cover all sums
of money (100%) that you will be obligated to pay, in those circumstances for which indemnification is permitted under the law.

 

		9.	The
Company will be entitled to any amount actually received from a third party (including under an insurance) in connection with liabilities
indemnified hereunder, to be paid by you to the Company within fifteen (15) days following the receipt of the said amount.

 

		10.	In
all indemnifiable circumstances, indemnification will be subject to the following:

 

	 	10.1	You shall promptly notify the Company in writing of any legal proceedings initiated against you and of all possible or threatened legal proceedings without delay following your first becoming aware thereof, and you shall deliver to the Company, or to such person as it shall advise you, without delay all documents you receive or possess in connection with these proceedings or possible or threatened proceedings. Notice to the Company shall be directed to the Chief Executive Officer of the Company at the address shown in the signature page of this Letter (or such other address as the Company shall designate to you).

 

	 	10.2	Similarly, you must notify the Company in writing (addressed as described in § ‎10.1 above) on an ongoing and current basis concerning all events that you suspect may possibly give rise to the initiation of legal proceedings against you.

 

	 	10.3	Other than with respect to proceedings that have been initiated against you by the Company or in its name, the Company shall be entitled to undertake the conduct of your defense in respect of such legal proceedings and/or to hand over the conduct thereof to any attorney which the Company may choose for that purpose, except to an attorney that you reasonably deem to be unacceptable. The Company or the attorney as aforesaid shall be entitled, within the context of the conduct as aforesaid, to conclude such proceedings, all as it shall see fit, including by way of settlement. At the request of the Company, you shall execute all documents required to enable the Company and/or its attorney as aforesaid to conduct your defense in your name, and to represent you in all matters connected therewith, in accordance with the aforesaid. For the avoidance of doubt, in the case of criminal proceedings the Company and/or the attorneys as aforesaid will not have the right to plead guilty in your name or to agree to a plea-bargain in your name without your consent. Furthermore, in a civil proceeding (whether before a court or as a part of a compromise arrangement), the Company and/or its attorneys will not have the right to admit to any occurrences that are not indemnifiable pursuant to this Letter and/or pursuant to law, without your consent. However, the aforesaid will not prevent the Company and/or its attorneys as aforesaid, with the approval of the Company, to come to a financial arrangement with a plaintiff in a civil proceeding without your consent so long as such arrangement will not be an admittance of an occurrence not fully indemnifiable pursuant to this Letter or pursuant to law and further provided that any such settlement or arrangement does not impose on you any liability or limitation.

 

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	 	10.4	You will fully cooperate with the Company or any attorney as aforesaid in every reasonable way as may be required of you within the context of their conduct of such legal proceedings, including but not limited to the execution of power(s) of attorney and other documents, provided that the Company shall cover all costs incidental thereto such that you will not be required to pay the same or to finance the same yourself.

 

	 	10.5	If, in accordance with § ‎10.3 above, the Company has taken upon itself the conduct of your defense, you shall have the right to employ counsel in any such action, suit or proceeding, but the fees and expenses of such counsel, incurred after the assumption by the Company of the defense thereof, shall be at your expense unless: (i) the employment of counsel by you has been authorized by the Company; or (ii) you and the Company shall have reasonably concluded that there may be a conflict of interest between the Company and yourself in the conduct of the defense of such action, in each of which cases the reasonable fees and expenses of counsel shall be at the expense of the Company.

 

	 	10.6	The Company will have no liability or obligation pursuant to this Letter to indemnify you for any amount expended by you pursuant to any compromise or settlement agreement reached in any suit, demand or other proceeding as aforesaid without the Company’s prior written consent to such compromise or settlement, which consent shall not be unreasonably withheld.

 

		11.	The
Company hereby exempts you, to the fullest extent permitted by law, from any liability for damages caused as a result of a breach of
your duty of care to the Company, provided that in no event shall you be exempt with respect to any actions listed in § ‎2
above.

 

		12.	If
for the validation of any of the undertakings in this Letter any act, resolution, approval or other procedure is required, the Company
undertakes to make its best efforts to cause them to be done or adopted in a manner which will enable the Company to fulfill all its
undertakings as aforesaid.

 

		13.	For
the avoidance of doubt, it is hereby clarified that nothing contained in this Letter derogates from the Company’s right (but in
no way obligation) to indemnify you post factum for any amounts which you may be obligated to pay as set forth in § ‎1
above without the limitations set forth in §§ ‎5 and ‎6 above. The Company may, in its sole discretion, following
receipt of necessary corporate approvals, and subject to applicable law, indemnify you retroactively for actions committed prior to the
date of this Letter. Your rights of indemnification hereunder shall not be deemed exclusive of any other rights you may have under the
Company’s Articles of Association or applicable law or otherwise.

 

		14.	If
any undertaking included in this Letter is held invalid or unenforceable, such invalidity or unenforceability will not affect any of
the other undertakings, which will remain in full force and effect. Furthermore, if such invalid or unenforceable undertaking may be
modified or amended so as to be valid and enforceable as a matter of law, such undertakings will be deemed to have been modified or amended,
and any competent court or arbitrator are hereby authorized to modify or amend such undertaking, so as to be valid and enforceable to
the maximum extent permitted by law.

  

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

 

		16.	This
Letter and the agreements contained herein shall be governed by and construed and enforced in accordance with the laws of the Israel.

 

		17.	This
Letter of Indemnification cancels any preceding letter or other obligation of indemnification that may have been issued to you.

 

This Letter is being issued to you pursuant to
the resolution adopted by the Board of Directors on ________.

 

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Kindly sign in the space provided below to acknowledge your agreement
to the contents hereof, and return this Letter to the Company.

 

	 	Very truly yours,
	 	 
	 	MARIS TECH LTD.

 

	 	INDEMNITEE
	 	 
	 	Name:

 

Schedule to Exhibit 4.1

 

The following executive officers and directors
are each party to a Letter of Indemnification with the Company, each of which is substantially identical in all material respects to the
form of Indemnification Agreement filed herewith and is dated as of the respective date listed below.

 

	Name of Signatory	 	Date
	Israel Bar	 	April 28, 2022
	Chief Executive Officer and Director	 	 
	 	 	 
	Nir Bussy	 	April 28, 2022
	Chief Financial Officer	 	 
	 	 	 
	Magenya Roshanski	 	April 28, 2022
	Chief Technology Officer	 	 
	 	 	 
	Aviad Friedman	 	April 28, 2022
	Director	 	 
	 	 	 
	Carmela Bestiker	 	April 28, 2022
	Chief Operating Officer	 	 
	 	 	 
	David Raviv	 	April 28, 2022
	VP Marketing and Business Development	 	 
	 	 	 
	Joseph Weiss	 	April 28, 2022
	Chairman of the Board of Directors	 	 
	 	 	 
	Amitay Weiss	 	April 28, 2022
	Director	 	 
	 	 	 
	Joseph Gottlieb	 	April 28, 2022
	Director	 	 
	 	 	 
	Naama Falach Avrahamy	 	April 28, 2022
	Director	 	 

 

 

5Exhibit 10.1

 

 

April 27, 2022

 

Elizabeth Czerepak

[...***...]

[...***...]

 

Dear Elizabeth,

 

Sorrento Therapeutics, Inc. (“Sorrento
Holding” or the “Company”) would like to offer you a position as Executive Vice President and Chief Financial Officer.
In this position, you will report to Henry Ji, Chief Executive Officer. Should you accept our offer of employment, we would like your
start date to be May 18, 2022. The Company understands that you also will be serving as Chief Financial Officer of Scilex Holding Company,
Inc. (“Scilex”) and consents to that service.

 

Your base pay will be $300,000.00
per annum, payable at a rate of $12,500.00 gross semi-monthly. This will be paid to you during the Company’s standard payroll cycle
that pays on the 5th and 20th of each month. Additionally, you will have a target bonus of 50% of your base pay.

 

You will also be eligible to receive
a signing bonus in the amount of $50,000.00, which shall be payable to you within thirty (30) days after your commencement of employment
with the Company (the “Signing Bonus”). If the Company terminates your employment for Cause (as defined below) or you resign
from employment with the Company without Good Reason (as defined below), in either case within 12 months following the commencement of
your employment, you will be required to repay the Signing Bonus to the Company within thirty (30) days after the date of your termination
of employment with the Company.

 

As soon as practicable after the
commencement of your employment, but subject to approval of the Company’s Board of Directors (or its Compensation Committee), the
Company shall grant you an incentive stock option to purchase 350,000 shares of Company common stock (the “Option”). The Option
shall vest over a four (4) year period, as to 1/4th of the shares subject to the Option on the date that is one year after the vesting
commencement date (which shall be determined by the Board of Directors or its Compensation Committee at the time the Option is granted)
and an additional 1/48th of the shares subject to the Option shall vest on the same date of each month thereafter; in each case provided
that you remain in Continuous Service (as defined in the equity incentive plan pursuant to which the Option will be granted) through the
applicable vesting date, inclusive. In addition, all of the shares subject to the Option shall vest upon the occurrence of a Change in
Control (as defined in the equity incentive plan pursuant to which the Option will be granted) that occurs prior to the termination of
your Continuous Service. Periodically, you are required to be onsite at Sorrento’s offices as needed.

 

Effective as of the commencement
of your employment with Sorrento, vesting will cease under your November 18, 2021 Sorrento stock option grant covering 100,000 shares
of Sorrento common stock, and such option shall immediately expire to the extent unvested.

 

     

     

    

 

You will be eligible to participate
in the Company’s comprehensive benefits (subject to meeting the eligibility requirements set forth in individual plan documents),
which includes: Flexible PTO as detailed in our Employee Handbook, company paid holidays, a matching retirement plan (401k), life and
AD&D, long-term disability, and a flexible reimbursement plan.

 

Medical, dental, vision insurance coverage
is available the first of the month after your start date. Long-term disability coverage begins the first of the month after 90 days of
service.

 

As an employer, Sorrento requires
its employees to maintain high standards of ethics and professionalism, and we specifically require the protection of proprietary information.
As a condition of employment, you will be required to sign our standard employment, Proprietary Information and Inventions Agreement.

 

As per state law, your employment
at Sorrento is “at will.” This means that the terms and conditions of employment may be changed by you or Sorrento, with or
without cause and with or without notice, including but not limited to, promotion, transfer, compensation, benefits, duties and location
of work, demotion or termination. Any modifications to this “at-will” term of your employment must be in writing and signed
by you and by either the Chief Executive Officer or Executive Chairperson of Sorrento.

 

However, in the event that the Company
terminates your employment other than for Cause or you resign from your employment with the Company for Good Reason, subject to your execution
and delivery to the Company of a full and complete release of any and all claims in a form prescribed by the Company, which shall become
effective and irrevocable within sixty (60) days after your termination of employment with the Company, and so long as you have not been
offered a Full Compensation Scilex Position (defined below), the Company will continue to pay your base salary for a period of twelve
(12) months at your then-current rate (such payments, the “Severance Payments”). The Severance Payments shall be paid in accordance
with the Company’s standard payroll practices and shall commence on the first regularly scheduled payroll date following the date
that is sixty (60) days after your termination date (with amounts that otherwise would be paid before that time accruing and paid on that
date). For purposes of the foregoing, a “Full Compensation Scilex Position” means a full-time position at Scilex with a base
salary and annual bonus potential of not less than the combined base salary and target bonus you are receiving from both the Company and
Scilex, if any, as of immediately prior to the termination of your employment.

 

For purposes of this letter,
“Cause” means the occurrence of any of the following events: (i) your theft, dishonesty, willful misconduct, breach of fiduciary
duty for personal profit, or intentional falsification of any documents or records of the Company or its affiliates; (ii) your material
failure to abide by the Company’s Code of Business Conduct and Ethics or other policies (including, without limitation, policies
relating to confidentiality and reasonable workplace conduct and policies of any affiliate of the Company, as applicable); (iii) your
unauthorized use, misappropriation, destruction or diversion of any tangible or intangible asset or corporate opportunity of the Company
or any of its affiliates (including, without limitation, your improper use or disclosure of confidential or proprietary information of
the Company or its affiliates); (iv) any intentional act by you which has a material detrimental effect on the reputation or business
of the Company or its affiliates; (v) your repeated failure or inability to perform any reasonable assigned duties after written notice
from the Company (or its affiliate, as applicable) of, and a reasonable opportunity to cure, such failure or inability; (vi) your material
breach of any employment or service agreement between you and the Company (or an affiliate of the Company, as applicable), including this
letter, which breach is not cured pursuant to the terms of such agreement; or (vii) your conviction (including any plea of guilty or nolo
contendere) of any criminal act involving fraud, dishonesty, misappropriation or moral turpitude, or which impairs your ability to perform
your duties with the Company (or its affiliate, as applicable).

 

     

     

    

 

For purposes of this letter, “Good
Reason” means if you resign within ninety (90) days after any of the following events, unless you consents to the applicable
event:  (i) a decrease in your annual base salary or annual target bonus opportunity; (ii) a material decrease in your
duties, authority or areas of responsibility as are commensurate with your title or position (other than in connection with a corporate
transaction where you continue to hold your position with the Company held as of the date immediately prior to such corporate transaction
with respect to the Company’s business, substantially as such business exists prior to the date of consummation of such corporate
transaction, but do not hold such position with respect to the successor corporation); (iii) a change in your title or if you are required
to report to anyone other than directly to the Company’s Chief Executive Officer; or (iv) the relocation of your primary office
to a location more than thirty-five (35) miles from the Company’s then current headquarters.  Notwithstanding the
foregoing, no Good Reason will have occurred unless and until you have: (A) provided the Company, within sixty (60) days
of your knowledge of the occurrence of the facts and circumstances underlying the Good Reason event, written-notice stating with specificity
the applicable facts and circumstances underlying such finding of Good Reason; and (B) provided the Company with an opportunity to
cure the same within thirty (30) days after the receipt of such notice.

 

This letter is intended to meet
the requirements of, or provide for an exemption from the requirements of, Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”), and will be interpreted and construed consistent with that intent. For purposes of this letter, the terms “terminate,”
“terminated” and “termination” mean a termination of your employment that constitutes a “separation from
service” within the meaning of Section 409A of the Code and the regulations thereunder to the extent that any payments are subject
to Section 409A of the Code. Each payment provided hereunder (including each Severance Payment) shall be treated as a separate payment
for purposes of Section 409A of the Code. If the Company determines that you are a “specified employee” under Section 409A(a)(2)(B)(i)
of the Code at the time of your separation, then (i) any Severance Payments, to the extent that they are subject to Section 409A of the
Code, will be paid (or will commence) on the first business day following (A) expiration of the six-month period measured from your separation
from service with the Company or (B) the date of your death, and (ii) the Severance Payments that otherwise would have been paid prior
to such date will be paid in a lump sum when such payments commence.

 

Any and all representations made by Sorrento are contained
in this offer. No other oral representations are binding on the company. All compensation indicated in this letter is subject to continued
employment. This offer constitutes our complete offer package to recognize you.

 

[remainder of page intentionally
left blank]

 

     

     

    

 

As a formality, please sign and return the original or
scanned copy of this letter within two (2) days to Henry Ji, indicating your acceptance of the position offered pursuant to the terms
set forth herein and retain a copy for your records.

 

Sincerely,

 

Henry Ji

Chief Executive Officer

 

By signing below, I accept this offer of employment.

 

	/s/ Elizabeth Czerepak	 	April 27, 2022
	Signature	 	Date

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