Document:

Exhibit
10.20

 

REGISTRATION
RIGHTS AGREEMENT

 

This
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of March 8, 2022, is entered into by and between
SMARTMETRIC, INC., a Nevada corporation (the “Company”), and MAST HILL FUND, L.P., a Delaware limited
partnership (together with it permitted assigns, the “Investor”). Capitalized terms used herein and not otherwise
defined herein shall have the respective meanings set forth in the equity purchase agreement by and between the parties hereto, dated
as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement”).

 

WHEREAS:

 

The
Company has agreed, upon the terms and subject to the conditions of the Purchase Agreement, to sell to the Investor up to Five Million
Dollars ($5,000,000.00) of Put Shares (as defined in the Purchase Agreement) and to induce the Investor to enter into the Purchase Agreement,
the Company has agreed to provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations
thereunder, or any similar successor statute (collectively, the “Securities Act”), and applicable state securities
laws.

 

NOW,
THEREFORE, in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company and the Investor hereby agree as follows:

 

1. DEFINITIONS.

 

As
used in this Agreement, the following terms shall have the following meanings:

 

a.
“Investor” shall have the meaning set forth above.

 

b.
“Person” means any individual or entity including but not limited to any corporation, a limited liability company,
an association, a partnership, an organization, a business, an individual, a governmental or political subdivision thereof or a governmental
agency.

 

c.
“Register,” “registered,” and “registration” refer to a registration effected
by preparing and filing one or more registration statements of the Company in compliance with the Securities Act and/or pursuant to Rule
415 under the Securities Act or any successor rule providing for offering securities on a continuous basis (“Rule 415”),
and the declaration or ordering of effectiveness of such registration statement(s) by the United States Securities and Exchange Commission
(the “SEC”).

 

d.
“Registrable Securities” means all of the Put Shares which have been, or which may, from time to time be issued, including
without limitation all of the shares of Common Stock which have been issued or will be issued to the Investor under the Purchase Agreement
(without regard to any beneficial ownership limitation therein), the Commitment Shares (as defined in the Purchase Agreement) (the “Commitment
Shares”), and Warrant Shares (as defined in the Purchase Agreement) (the “Warrant Shares”) (provided, however,
that the portion of the Warrant Shares underlying the Fifth Warrant shall be excluded) (without regard to any beneficial ownership limitation
therein), and shares of Common Stock issued to the Investor as a result of any stock split, stock dividend, recapitalization, exchange
or similar event or otherwise.

 

e.
“Registration Statement” means one or more registration statements of the Company covering only the sale of the Registrable
Securities.

 

     

     

    

 

2. REGISTRATION.

 

a.
Mandatory Registration. The Company shall, within forty-five (45) calendar days from the date of this Agreement, file with the
SEC an initial Registration Statement covering the maximum number of Registrable Securities (beginning with the Commitment Shares and
Warrant Shares with respect to Investor) as shall be permitted to be included thereon in accordance with applicable SEC rules, regulations
and interpretations so as to permit the resale of such Registrable Securities by the Investor, including but not limited to under Rule
415 under the Securities Act at then prevailing market prices (and not fixed prices), subject to the aggregate number of authorized shares
of the Company’s Common Stock then available for issuance in its Certificate of Incorporation. The initial Registration Statement
shall register only the Registrable Securities. The Investor and its counsel shall have a reasonable opportunity to review and comment
upon such Registration Statement and any amendment or supplement to such Registration Statement and any related prospectus prior to its
filing with the SEC, and the Company shall give due consideration to all reasonable comments. The Investor shall furnish all information
reasonably requested by the Company for inclusion therein. The Company shall use its reasonable best efforts to have the Registration
Statement declared effective by the SEC within ninety (90) calendar days from the date hereof (or at the earliest possible date if prior
to ninety (90) calendar days from the date hereof), and any amendment declared effective by the SEC at the earliest possible date. The
Company shall use reasonable best efforts to keep the Registration Statement effective, including but not limited to pursuant to Rule
415 promulgated under the Securities Act and available for the resale by the Investor of all of the Registrable Securities covered thereby
at all times until the earlier of (i) the date as of which the Investor may sell all of the Registrable Securities without restriction
pursuant to Rule 144 promulgated under the Securities and (ii) the date on which the Investor shall have sold all the Registrable Securities
covered thereby and the Maximum Commitment Amount (as defined in the Purchase Agreement) under the Purchase Agreement has been drawn
down by the Company pursuant to a Registration Statement (the “Registration Period”). The Registration Statement (including
any amendments or supplements thereto and prospectuses contained therein) shall not contain any untrue statement of a material fact or
omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances
in which they were made, not misleading. In the event that the Registration Statement becomes stale, the Company shall immediately file
one or more post-effective amendments to obtain an effective Registration Statement.

 

b.
Rule 424 Prospectus. The Company shall, as required by applicable securities regulations, from time to time file (in each case,
at the earliest possible date) with the SEC, pursuant to Rule 424 promulgated under the Securities Act, the prospectus and prospectus
supplements, if any, to be used in connection with sales of the Registrable Securities under the Registration Statement. The Company
shall file such initial prospectus covering the Investor’s sale of the Registrable Securities on the same date that the Registration
Statement is declared effective by the SEC. The Investor and its counsel shall have a reasonable opportunity to review and comment upon
such prospectus prior to its filing with the SEC, and the Company shall give due consideration to all such comments. The Investor shall
use its reasonable best efforts to comment upon such prospectus within one (1) Business Day from the date the Investor receives the final
pre-filing version of such prospectus.

 

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c.
Sufficient Number of Shares Registered. In the event the number of shares available under the Registration Statement is insufficient
to cover all of the Registrable Securities, the Company shall amend the Registration Statement or file a new Registration Statement (a
“New Registration Statement”), so as to cover all of such Registrable Securities (subject to the limitations set forth
in Section 2(a)) as soon as practicable, but in any event not later than ten (10) Business Days after the necessity therefor arises,
subject to any limits that may be imposed by the SEC pursuant to Rule 415 under the Securities Act. The Company shall use it reasonable
best efforts to cause such amendment and/or New Registration Statement to become effective as soon as practicable following the filing
thereof. In the event that any of the Put Shares, Warrant Shares, or Commitment Shares are not included in the Registration Statement,
or have not been included in any New Registration Statement and the Company files any other registration statement under the Securities
Act (other than on Form S-4, Form S-8, or with respect to other employee related plans or rights offerings) (“Other Registration
Statement”) then the Company shall include in such Other Registration Statement first all of such Warrant Shares and Commitment
Shares that have not been previously registered, second all of such Put Shares that not have been previously registered, and third any
other securities the Company wishes to include in such Other Registration Statement. The Company agrees that it shall not file any such
Other Registration Statement unless all of the Registrable Securities have been included in such Other Registration Statement or otherwise
have been registered for resale as described above.

 

d.
Offering. If the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering pursuant to a
Registration Statement filed pursuant to this Agreement as constituting an offering of securities that does not permit such Registration
Statement to become effective and be used for resales by the Investor under Rule 415 at then-prevailing market prices (and not fixed
prices), or if after the filing of the initial Registration Statement with the SEC pursuant to Section 2(a), the Company is otherwise
required by the Staff or the SEC to reduce the number of Registrable Securities included in such initial Registration Statement, then
the Company shall reduce the number of Registrable Securities to be included in such initial Registration Statement (with the prior consent,
which shall not be unreasonably withheld, of the Investor and its legal counsel as to the specific Registrable Securities to be removed
therefrom) until such time as the Staff and the SEC shall so permit such Registration Statement to become effective and be used as aforesaid.
In the event of any reduction in Registrable Securities pursuant to this paragraph, the Company shall file one or more New Registration
Statements in accordance with Section 2(c) until such time as all Registrable Securities have been included in Registration Statements
that have been declared effective and the prospectus contained therein is available for use by the Investor. Notwithstanding any provision
herein or in the Purchase Agreement to the contrary, the Company’s obligations to register Registrable Securities (and any related
conditions to the Investor’s obligations) shall be qualified as necessary to comport with any requirement of the SEC or the Staff
as addressed in this Section 2(d).

 

3.
RELATED OBLIGATIONS.

 

With
respect to the Registration Statement and whenever any Registrable Securities are to be registered pursuant to Section 2 including on
any New Registration Statement, the Company shall use its reasonable best efforts to effect the registration of the Registrable Securities
in accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

 

a.
The Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to any registration
statement and the prospectus used in connection with such registration statement, which prospectus is to be filed pursuant to Rule 424
promulgated under the Securities Act, as may be necessary to keep the Registration Statement or any New Registration Statement effective
at all times during the Registration Period, and, during such period, comply with the provisions of the Securities Act with respect to
the disposition of all Registrable Securities of the Company covered by the Registration Statement or any New Registration Statement
until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition
by the seller or sellers thereof as set forth in such registration statement.

 

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b.
The Company shall permit the Investor to review and comment upon the Registration Statement or any New Registration Statement and all
amendments and supplements thereto at least two (2) Business Days prior to their filing with the SEC, and not file any document in a
form to which Investor reasonably objects. The Investor shall use its reasonable best efforts to comment upon the Registration Statement
or any New Registration Statement and any amendments or supplements thereto within two (2) Business Days from the date the Investor receives
the final version thereof. The Company shall furnish to the Investor, without charge any correspondence from the SEC or the staff of
the SEC to the Company or its representatives relating to the Registration Statement or any New Registration Statement.

 

c.
Upon request of the Investor, the Company shall furnish to the Investor, (i) promptly after the same is prepared and filed with the SEC,
at least one copy of such registration statement and any amendment(s) thereto, including financial statements and schedules, all documents
incorporated therein by reference and all exhibits, (ii) upon the effectiveness of any registration statement, a copy of the prospectus
included in such registration statement and all amendments and supplements thereto (or such other number of copies as the Investor may
reasonably request) and (iii) such other documents, including copies of any preliminary or final prospectus, as the Investor may reasonably
request from time to time in order to facilitate the disposition of the Registrable Securities owned by the Investor. For the avoidance
of doubt, any filing available to the Investor via the SEC’s live EDGAR system shall be deemed “furnished to the Investor”
hereunder.

 

d.
The Company shall use reasonable best efforts to (i) register and qualify the Registrable Securities covered by a registration statement
under such other securities or “blue sky” laws of such jurisdictions in the United States as the Investor reasonably requests,
(ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to such registrations
and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions
as may be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv)
take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided,
however, that the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do business in any
jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (y) subject itself to general taxation in
any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction. The Company shall promptly notify
the Investor who holds Registrable Securities of the receipt by the Company of any notification with respect to the suspension of the
registration or qualification of any of the Registrable Securities for sale under the securities or “blue sky” laws of any
jurisdiction in the United States or its receipt of actual notice of the initiation or threatening of any proceeding for such purpose.

 

e.
As promptly as practicable after becoming aware of such event or facts, the Company shall notify the Investor in writing of the happening
of any event or existence of such facts as a result of which the prospectus included in any registration statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they were made, not misleading, and promptly prepare a supplement or
amendment to such registration statement to correct such untrue statement or omission, and deliver a copy of such supplement or amendment
to the Investor (or such other number of copies as the Investor may reasonably request). The Company shall also promptly notify the Investor
in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, and when a registration statement
or any post-effective amendment has become effective (notification of such effectiveness shall be delivered to the Investor by email
or facsimile on the same day of such effectiveness and by overnight mail), (ii) of any request by the SEC for amendments or supplements
to any registration statement or related prospectus or related information, and (iii) of the Company’s reasonable determination
that a post-effective amendment to a registration statement would be appropriate.

 

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f.
The Company shall use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness of any
registration statement, or the suspension of the qualification of any Registrable Securities for sale in any jurisdiction and, if such
an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and to notify
the Investor of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of
any proceeding for such purpose.

 

g.
The Company shall (i) cause all the Registrable Securities to be listed on each securities exchange on which securities of the same class
or series issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules
of such exchange, or (ii) secure designation and quotation of all the Registrable Securities on the Principal Market (as defined in the
Purchase Agreement). The Company shall pay all fees and expenses in connection with satisfying its obligation under this Section.

 

h.
The Company shall cooperate with the Investor to facilitate the timely preparation and delivery of the Registrable Securities (not bearing
any restrictive legend) either by DWAC, DRS, or in certificated form if DWAC or DRS is unavailable, to be offered pursuant to any registration
statement and enable such Registrable Securities to be in such denominations or amounts as the Investor may reasonably request and registered
in such names as the Investor may request.

 

i.
The Company shall at all times provide a transfer agent and registrar with respect to its Common Stock.

 

j.
If reasonably requested by the Investor, the Company shall (i) immediately incorporate in a prospectus supplement or post-effective amendment
such information as the Investor believes should be included therein relating to the sale and distribution of Registrable Securities,
including, without limitation, information with respect to the number of Registrable Securities being sold, the purchase price being
paid therefor and any other terms of the offering of the Registrable Securities; (ii) make all required filings of such prospectus supplement
or post-effective amendment as soon as practicable upon notification of the matters to be incorporated in such prospectus supplement
or post- effective amendment; and (iii) supplement or make amendments to any registration statement.

 

k.
The Company shall use its reasonable best efforts to cause the Registrable Securities covered by any registration statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable
Securities.

 

l.
Within one (1) Business Day after any registration statement which includes the Registrable Securities is ordered effective by the SEC,
the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities
(with copies to the Investor) confirmation that such registration statement has been declared effective by the SEC in the form attached
hereto as Exhibit A. Thereafter, if requested by the Investor at any time, the Company shall require its counsel to deliver to
the Investor a written confirmation whether or not the effectiveness of such registration statement has lapsed at any time for any reason
(including, without limitation, the issuance of a stop order) and whether or not the registration statement is current and available
to the Investor for sale of all of the Registrable Securities.

 

m.
The Company shall take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of Registrable Securities
pursuant to any registration statement.

 

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4.
OBLIGATIONS OF THE INVESTOR.

 

a.
The Company shall notify the Investor in writing of the information the Company reasonably requires from the Investor in connection with
any registration statement hereunder. The Investor shall furnish to the Company such information regarding itself, the Registrable Securities
held by it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect
the registration of such Registrable Securities and shall execute such documents in connection with such registration as the Company
may reasonably request.

 

b.
The Investor agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing
of any registration statement hereunder.

 

c.
The Investor agrees that, upon receipt of any notice from the Company of the happening of any event or existence of facts of the kind
described in Section 3(f) or the first sentence of 3(e), the Investor will immediately discontinue disposition of Registrable Securities
pursuant to any registration statement(s) covering such Registrable Securities until the Investor’s receipt of the copies of the
supplemented or amended prospectus contemplated by Section 3(f) or the first sentence of 3(e). Notwithstanding anything to the contrary,
the Company shall cause its transfer agent to promptly deliver shares of Common Stock without any restrictive legend in accordance with
the terms of the Purchase Agreement in connection with any sale of Registrable Securities with respect to which the Investor has entered
into a contract for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event of the kind
described in Section 3(f) or the first sentence of Section 3(e) and for which the Investor has not yet settled.

 

5.
EXPENSES OF REGISTRATION.

 

All
reasonable expenses, other than sales or brokerage commissions, incurred in connection with registrations, filings or qualifications
pursuant to Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting
fees, and fees and disbursements of counsel for the Company, shall be paid by the Company.

 

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6. INDEMNIFICATION.

 

a.
To the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each Person,
if any, who controls the Investor, the members, the directors, officers, partners, employees, agents, representatives of the Investor
and each Person, if any, who controls the Investor within the meaning of the Securities Act or the Securities Exchange Act of 1934, as
amended (the “Exchange Act”) (each, an “Indemnified Person”), against any losses, claims, damages,
liabilities, judgments, fines, penalties, charges, costs, attorneys’ fees, amounts paid in settlement or expenses, joint or several,
(collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding,
investigation or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory agency, body
or the SEC, whether pending or threatened, whether or not an indemnified party is or may be a party thereto (“Indemnified Damages”),
to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect
thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in the Registration
Statement, any New Registration Statement or any post-effective amendment thereto or in any filing made in connection with the qualification
of the offering under the securities or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered
(“Blue Sky Filing”), or the omission or alleged omission to state a material fact required to be stated therein or
necessary to make the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained
in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or
the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in light of the circumstances
under which the statements therein were made, not misleading, (iii) any violation or alleged violation by the Company of the Securities
Act, the Exchange Act, any other law, including, without limitation, any state securities law, or any rule or regulation thereunder relating
to the offer or sale of the Registrable Securities pursuant to the Registration Statement or any New Registration Statement or (iv) any
material violation by the Company of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively, “Violations”).
The Company shall reimburse each Indemnified Person promptly as such expenses are incurred and are due and payable, for any reasonable
legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding
anything to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (i) shall not apply to a Claim
by an Indemnified Person arising out of or based upon a Violation which occurs in reliance upon and in conformity with information about
the Investor furnished in writing to the Company by such Indemnified Person expressly for use in connection with the preparation of the
Registration Statement, any New Registration Statement or any such amendment thereof or supplement thereto, if such prospectus was timely
made available by the Company pursuant to Section 3(c) or Section 3(e); (ii) with respect to any superseded prospectus, shall not inure
to the benefit of any such person from whom the person asserting any such Claim purchased the Registrable Securities that are the subject
thereof (or to the benefit of any person controlling such person) if the untrue statement or omission of material fact contained in the
superseded prospectus was corrected in the revised prospectus, as then amended or supplemented, if such revised prospectus was timely
made available by the Company pursuant to Section 3(c) or Section 3(e), and the Indemnified Person was promptly advised in writing not
to use the incorrect prospectus prior to the use giving rise to a violation and such Indemnified Person, notwithstanding such advice,
used it; (iii) shall not be available to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered
the prospectus made available by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(c) or
Section 3(e); and (iv) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written
consent of the Company, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless
of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable Securities by the
Investor pursuant to Section 9.

 

b.
Promptly after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action
or proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall,
if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party a
written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the
indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof
with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the case may be;
provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with the fees and expenses
to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation
by such counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential
differing interests between such Indemnified Person or Indemnified Party and any other party represented by such counsel in such proceeding.
The Indemnified Party or Indemnified Person shall cooperate fully with the indemnifying party in connection with any negotiation or defense
of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available
to the Indemnified Party or Indemnified Person which relates to such action or claim. The indemnifying party shall keep the Indemnified
Party or Indemnified Person fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto.
No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its written consent, provided,
however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without
the consent of the Indemnified Party or Indemnified Person, consent to entry of any judgment or enter into any settlement or other compromise
which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified
Person of a release from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the
indemnifying party shall be subrogated to all rights of the Indemnified Party or Indemnified Person with respect to all third parties,
firms or corporations relating to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying
party within a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the
Indemnified Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability
to defend such action.

 

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c.
The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or Indemnified Damages are incurred.

 

d.
The indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or
Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant
to the law.

 

7.
CONTRIBUTION.

 

To
the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum
contribution with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law;
provided, however, that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent
misrepresentation; and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds
received by such seller from the sale of such Registrable Securities.

 

8.
REPORTS AND DISCLOSURE UNDER THE SECURITIES ACTS.

 

With
a view to making available to the Investor the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or
regulation of the SEC that may at any time permit the Investor to sell securities of the Company to the public without registration (“Rule
144”), the Company agrees, at the Company’s sole expense, to:

 

a.
make and keep public information available, as those terms are understood and defined in Rule 144;

 

b.
file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange
Act so long as the Company remains subject to such requirements and the filing of such reports and other documents is required for the
applicable provisions of Rule 144;

 

c.
furnish to the Investor so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company
that it has complied with the reporting and or disclosure provisions of Rule 144, the Securities Act and the Exchange Act, (ii) a copy
of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii)
such other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without registration;
and

 

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d.
take such additional action as is requested by the Investor to enable the Investor to sell the Registrable Securities pursuant to Rule
144, including, without limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions to the Company’s
Transfer Agent as may be requested from time to time by the Investor and otherwise fully cooperate with Investor and Investor’s
broker to effect such sale of securities pursuant to Rule 144.

 

The
Company agrees that damages may be an inadequate remedy for any breach of the terms and provisions of this Section 8 and that Investor
shall, whether or not it is pursuing any remedies at law, be entitled to equitable relief in the form of a preliminary or permanent injunctions,
without having to post any bond or other security, upon any breach or threatened breach of any such terms or provisions.

 

9.
ASSIGNMENT OF REGISTRATION RIGHTS.

 

The
Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor.

 

10.
AMENDMENT OF REGISTRATION RIGHTS.

 

No
provision of this Agreement may be amended or waived by the parties from and after the date that is one Business Day immediately preceding
the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence, no provision of this Agreement
may be (i) amended other than by a written instrument signed by both parties hereto or (ii) waived other than in a written instrument
signed by the party against whom enforcement of such waiver is sought. Failure of any party to exercise any right or remedy under this
Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

 

11.
MISCELLANEOUS.

 

a.
A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable
Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same
Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the registered owner of
such Registrable Securities.

 

b.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in
writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by email
(provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii) one
(1) Business Day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party
to receive the same. The addresses for such communications shall be:

 

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If
to the Company:

 

SmartMetric,
Inc.

3960
Howard Hughes Parkway, Suite 500

Las
Vegas, NV 89169

Email:
ceo@smartmetric.com

Attention:
Chaya Hendrick

 

If
to the Investor:

 

Mast
Hill Fund, L.P.

48
Parker Road

Wellesley,
MA 02482

Email:
admin@masthillfund.com

 

or
at such other address and/or email address and/or to the attention of such other person as the recipient party has specified by written
notice given to each other party three (3) Business Days prior to the effectiveness of such change. Written confirmation of receipt (A)
given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s
email account containing the time, date, recipient email address, as applicable, and an image of the first page of such transmission
or (C) provided by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by facsimile
or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

c.
The corporate laws of the State of Nevada shall govern all issues concerning this Agreement. All other questions concerning the construction,
validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of Nevada, without giving
effect to any choice of law or conflict of law provision or rule (whether of the State of Nevada or any other jurisdictions) that would
cause the application of the laws of any jurisdictions other than the State of Nevada. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state courts sitting in the Commonwealth of Massachusetts and federal courts sitting in the Commonwealth of Massachusetts,
for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein,
and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of
such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process
being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. If any provision of this Agreement
shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability
of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other
jurisdiction.

 

d.
This Agreement and the Purchase Agreement constitute the entire agreement among the parties hereto with respect to the subject matter
hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein
and therein. This Agreement and the Purchase Agreement supersede all prior agreements and understandings among the parties hereto with
respect to the subject matter hereof and thereof.

 

    10

     

    

 

e.
Subject to the requirements of Section 9, this Agreement shall inure to the benefit of and be binding upon the successors and permitted
assigns of each of the parties hereto.

 

f.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

g.
This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute
one and the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile transmission
or by e- mail in a “.pdf” format data file of a copy of this Agreement bearing the signature of the party so delivering this
Agreement.

 

h.
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all
such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent
and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

i.
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules
of strict construction will be applied against any party.

 

j.
This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns, and is not for
the benefit of, nor may any provision hereof be enforced by, any other Person.

 

*
* * * * *

 

    11

     

    

 

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

 

	 	THE COMPANY:
	 	 
	 	SMARTMETRIC,
    INC.
	 	 
	 	By:	/s/ Chaya Hendrick
	 	Name:	Chaya Hendrick
	 	Title:	Chief Executive Officer
	 	 
	 	INVESTOR:
	 	 
	 	MAST HILL FUND,
    L.P.
	 	 
	 	By:	/s/ Patrick
    Hassani
	 	Name:	Patrick Hassani
	 	Title:	Chief Investment Officer

 

[Signature
Page to registration rights agreement]

 

    12

     

    

 

EXHIBIT
A

 

TO
REGISTRATION RIGHTS AGREEMENT

 

FORM
OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

_____,
2022

 

Worldwide
Stock Transfer, LLC

1
University Plaza, Suite 505

Hackensack,
NJ 07601

 

		Re:	Effectiveness
                                            of Registration Statement

 

Ladies
and Gentlemen:

 

We
are counsel to SMARTMETRIC, INC., a Nevada corporation (the “Company”), and have represented the Company in
connection with that certain Purchase Agreement, dated as of March 8, 2022 (the “Purchase Agreement”), entered into
by and between the Company and Mast Hill Fund, L.P., a Delaware limited partnership (the “Investor”) pursuant to which
the Company has agreed to issue to the Investor shares of the Company’s Common Stock, $0.001 par value (the “Common Stock”),
in an amount up to Five Million Dollars ($5,000,000.00) (the “Put Shares”), in accordance with the terms of the Purchase
Agreement. In connection with the transactions contemplated by the Purchase Agreement, the Company has registered with the U.S. Securities
& Exchange Commission the following shares of Common Stock:

 

		(1)	__________, which
                                                                                                                                                                   includes the Put Shares to be issued to the Investor upon purchase from the Company by the Investor from time to time in accordance
                                                                                                                                                                   with the Purchase Agreement, Warrant Shares (as defined in the Purchase Agreement) (the “Warrant Shares”), and
                                                                                                                                                                   the Commitment Shares (as defined in the Purchase Agreement) (the “Commitment Shares”).

 

Pursuant
to the Purchase Agreement, the Company also has entered into a registration rights agreement, of even date with the Purchase Agreement
with the Investor (the “Registration Rights Agreement”) pursuant to which the Company agreed, among other things,
to register the Put Shares, Warrant Shares, and Commitment Shares under the Securities Act of 1933, as amended (the “Securities
Act”). In connection with the Company’s obligations under the Purchase Agreement and the Registration Rights Agreement,
on [______], 2022, the Company filed a Registration Statement (File No. 333-[__________]) (the “Registration Statement”) with the
Securities and Exchange Commission (the “SEC”) relating to the resale of the Put Shares, Warrant Shares, and the Commitment
Shares.

 

In
connection with the foregoing, we advise you that a member of the SEC’s staff has advised us by telephone that the SEC has entered
an order declaring the Registration Statement effective under the Securities Act at [______] [A.M./P.M.] on [__________], 2022 and we have no knowledge,
after telephonic inquiry of a member of the SEC’s staff, that any stop order suspending its effectiveness has been issued or that
any proceedings for that purpose are pending before, or threatened by, the SEC and the Put Shares, Warrant Shares, and Commitment Shares
are available for resale under the Securities Act pursuant to the Registration Statement and may be issued without any restrictive legend.

 

	 	Very truly
    yours,
	 	[Company Counsel]
	 	 	 
	 	By: 	 

 

	cc:	Mast Hill Fund, L.P.

 

    A-1Exhibit 10.1
	
	

Exhibit
1
0
..1

PORCH GROUP, INC.

Senior Level Performance Bonus Plan

(Effective as of
[DATE]
)

1.

Purpose
..

The purpose of this Senior Level Performance Bonus Plan (the “
Plan
”) is
to attract, motivate, reward

and retain eligible employees by making a portion of their ca
sh
compensation dependent on

the perf
ormance of
Porch Group, Inc.

(the “
Company
”)

and/or

individual performance.

2.

Participants
..
The individuals to whom incentive bonus payments may be made
here
under shall be the executive officers of the
Company

(the “
E
O

Participants
”)
, as determined
by the
Company
’s Board of Directors
(the “
Board
”)
or Compensation Com
mittee of the Board

(the “
Committee
”)
, and such other key employees of the
Company

and subsidiaries of the
Company

as the Chief Executive Officer shall determine in his or her sole discretion (the “
Other
Participants
” and, tog
ether with the
EO Participants
, the “
Participants
”)
, as set forth o
n
Exhibit A

attached hereto.

3.

Administration
..

The Committee
shall administer and interpret th
e Plan for the
Participant
s
, and
in the exercise of the
following
powers, shall be referred to as the
“
Administrator
..”

(a)

Subject to the express provisions and limitations of this Plan, applicable law and
the listing standards of the Nasdaq Stock Market (or other national securities exchange, as
applicable), the Administrator shall be authorized and empowered to do all things

necessary or
desirable, in its sole discretion, in connection with the administration of the Plan, including,
without limitation, the following:

(i)

To prescribe, amend and rescind rules and regulations relating to the Plan
and to define terms not otherwise d
efined herein, and to take or approve such further actions
as it determines necessary or appropriate to the administration of the Plan, such as
correcting a defect or supplying any omission, or reconciling any inconsistency so that the
Plan or any award co
mplies with applicable law, regulations and
stock exchange
listing
requirements and so as to avoid unanticipated consequences or address unanticipated
events deemed by the Administrator to be inconsistent with the purposes of the Plan;

(ii)

To designate Participants, to establish
and to determine the weighting of
P
erformance
G
oals
, the Performance M
odifier

and
the components of the
P
erformance
M
odifier
, to determine the Performance Period,
and to determine the incentive bonus
payments, if any
, to be made to such Participants

based on the achievement of such

Performance G
oals and
P
erformance
M
odifier

for the
applicable
Performance Period
;

(iii)

To prescribe and amend the terms of any agreements or other documents
under the Plan;

	
	

2

(iv)

To determine whether,

and the extent to which, adjustments are required
,

including any adjustments

t
o P
erformance

Goals, the

P
erformance
M
odifier

and the
components of the Performance Modifier
pursuant to Section 5

hereof;

(v)

To interpret and construe the Plan, any rules and
regulations under the Plan,
and the terms and conditions of any incentive bonus payment

provided hereunder, and to
make exceptions to any such provisions in good faith and for the benefit of the
Company
;
and

(vi)

To make all other determinations deemed necessar
y or advisable for the
administration of the Plan.

(b)

All decision
s,
determinations

and interpretations by the Administrator regarding
the Plan and incentive bo
nus payments shall be final and binding on all Participants. The
Administrator may consider such fa
ctors, 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
Company

and such attorneys, consultants and
accountants as it
may select.

4.

Target Bonus
and

Earned Bonus

(a)

Each
Participant sha
ll have a target ince
ntive bonus for each Performance Period

during the term of this Plan stated as a percentage of his or her annual base salary (the “
Target
Bonus Percentage
”).

Bonus payments

under this Plan, if any, shall be paid based on performance
measurements de
termined at the end of the
applicable
Performance Period
..

(b)

A Participant’s
actual

base salary

paid
for the
applicable

Perfor
mance Period
, as
reflected in the
Company
’s payroll records, s
hall be used to calculate the Base Bonus, Modified
Bonus and Earned B
onus for such Performance Period; provided, however, for
any Participant not
employed for the full Performance Period such actual base sa
lary shall be annualized
.. The
actual

base salary used to calcul
ate the Earned B
onus shall not be reduced for any contributions made to
the
Company
’s 401(k) plan

(if any)

or other deferred compensation plans, and shall be exclusive
of any awards under the P
lan or any other bonus, incentive (including equity incentive) or special
pay awards.

(c)

Except
as otherwise provided in any written employment, offer letter, severance,
change in control, or similar agreement between the Company or any of its
s
ubsidiaries
and
Participant

(each, a “
Related Agreement
”)
,
an

incentive bonus payment shall be paid to a
Participant
only if the
Participant

is, and has been, continuously (except for any absence for
vacation, leave, etc. in accordance with the Company's or its
s
ubsid
iaries' policies) employed by
the Company or any of its
s
ubsidiaries
, except as permitted by Section 6 hereof.

(d)

Financial results for
Performance Goals

and, if applicable,

the objective
components of the Performance Modifier

must

be finalized as appropriate by the Chief Financial
Officer (or person having similar duties) and must be computed using financial results audited by
an independent registered

public accounting firm

before Earned B
onuses can be calculated and
paid.

Further, no incen
tive bonus payments will be paid

unless and until the Administrator

	
	

3

approves payments in accordance with the Plan.

The incentive bonus
payments hereunder
shall,

in
the
Administrator
’s
dis
cretion, be
paid
in cash and/or securities
or other property.

(e)

Notwithstanding Section 4(d)

hereof,

Ear
ned Bonuses

payable hereunder

shall
,
generally,

be paid in

February or

March of the year subsequent to the Performance Period, with
the specific date

of p
ayment

in such

applicable period

determined by the Administrator
..

5.

Performance Measures and Earned Bonus

(a)

The Administrator shall determine one or more performance periods in
each fiscal

year
,
and
each
applicable period
is
referred to herein as a

“
Performance Period
”.

(b)

A base bonus
shall

be determined for each Participant for each Performance Period
based upon the achievement of
certain Performance G
oals
(as defined below)
as determined by
the
Admini
s
trator
, in its discretion
,

for the applicable Perf
ormance Period (referred to as the “
Base
Bonus
”).

The Base Bonus
may
be modified by
a
Performance M
odifier

(as defined below)

as
determined by the
Administrator
,

in its discretion,
and
as so modified
or not
shall be referred to as
the “
Modified Bonus
”.

T
he Modified Bonus may be further modified by the Administrator in its
sole discretion,
including as set forth in this Plan,
and as so further modified or not, shall be referred
to as the “
Earned Bonus
”.

(c)

Performance Goals

and
Performance
Modifier
..

(i)

Performance Goals
..
Performance goals as determined by the
Administrator,

in its discretion
,

shall

include
the achievement of
one or more
specific
financial or non
-
financial measurements

(the “
Performance Goals
”)
..

The
Administrator
may
also determine, fo
r each Performance Period, the minim
um
performance achievement

of one or more Performance Goals
necessary before any
b
onus may be paid under the
Plan.

(ii)

Performance Modifier
..

The “Modified Bonus,” if any, shall

be calculated
as the Base Bonus multiplied

by
a performance modifier,
if any,
as determined by the
Administrator
, in its discretion
..

The
p
erformance
m
odifier, if any, shall be
determined
by
the Administrator
, in its discretion,
based on the achievement of
one or more
components
consisting of
financial or non
-
financial measurements, each of which may be objective
and/or subjective,
for the Performance Period

(the “
Performance Modifie
r
”)
..

The
Administrator may also determine, for each Performance Period, the minimum
per
formance achievement
of one or more components of the Performance Modifier
necessary before

the Performance M
odifier

may be
applied
under the Plan.

(d)

Adjustments to
and Weighting of
Performance Goals and
Performance
Modifier

in
Performance Period
..

(i)

Adjustme
nts
..
The Administrator has the discretion to adjust Performance
Goals

and the components of the Performance Modifier
, as appropriate
, for

the occurrence
of
unusual, non
-
re
curring or extra
-
ordinary events
or matter
s
,
including if such event
s

or
matter
s

are

not reflective of the
Company
’s ongoing operations and related tax effects
..

	
	

4

(ii)

Weighting
..
The Administrator shall have the authority to determin
e
the
relative weight of (i)
the Performance G
oals
, the Performance Modifier

and the
components of the Performance Modifier
and (ii) the achievement of threshold, target and
maxim
um performance (and the

c
orrelation between such achievement levels
) that
comprise
such Performance G
oals
, the Performance Modifier

and
the components
Per
formance Modifier
..

(e)

Extraordinary Adjustments
..
Notwithstanding the

attainment of the Performance
Goals or the Performance Modifier, all Earned B
onuses under the Plan are subject to
adjustment,
reduction or elimination by the Administrator
, in its discret
ion,

prior to payment.

For example,

but
not as a limitation of the foregoing general provisi
on, a reduction in any and all Earned B
on
uses
may be made if performance is

achieved in ways that are considered not in the best interests of the
Company
’s
stockho
lders

or not auth
orized by the Board

or management.

Furthermore, the
Administrator also may adjust
the Base Bonus or Modified Bonus

of one or more Participants
in
order to ensure the
Company
’s aggregate
Earned Bonus
payments under the Plan do not
exceed
the funding authorized under the Plan.

(f)

The Earned Bonus

shall be payable at the time set forth in Section 4(e)

hereof
..

6.

Termination of Employment; Change in Control.

(a)

Death or Disability During the Performance Period
..

Except as required otherwise
b
y applicable law or regulation

or as
otherwise provided in any Related Agreement
, i
f the
Participant
’s employment with the Company terminates prior to the
payment date for the
applicable Performance Period

by reason of the
Participant
’s death or due to Dis
ability, then in
any such case,
the
Participant

shall
receive
a pro rata bonus for the applicable Participant for the
Performance Period during which the Participant was terminated in accordance with Section 7
hereof.

For purposes of this Agreement,
Participan
t

will be deemed to have a “Disability” if,
because of a physical or mental impairment,
Participant

has been unable to perform the essential
functions of their position, with or without reasonable accommodation, for a period of one hundred
eighty

(180) days within any 12
-
month period as determined by a medical doctor approved by the
Board
and the Participant
..

(b)

Voluntary Termination
..

Except
as otherwise provided in any Related Agreement
,
i
f a Participant’s employment is terminated due to a voluntar
y termination

prior to
the payment
date for the applicable Performance Period
, excluding a retirement that meets the definition of
retirement established by the
Administrator

(if any)

or when

payment is required for retirement
defined
under applicable law
or regulation (each, a “
qualifying retirement
”)
, no bonus will be
earned by or paid to the Participant.

In the case of qualifying retirement

meeting the definition
established by the
Administrator
, the Administrator shall have the discretion, but not the
obligation, to pay a pro rata bonus to such Participant for the Performance Period during which
the Participant retired in accordance with Section 7

hereof
..

(c)

Involuntary Termination
..

Except as

otherwise provided in any Related Agreement
,
i
f a Participant’s

employment is terminated for cause (but excluding any other event otherwise
described in this Section 6)

prior to
the payment date for the applicable Performance Period
, no
bonus will be earned by or paid to the Participant.

For purposes of the Plan, a t
ermination for

	
	

5

“cause” means a material failure to perform such employee’s duties and responsibilities to a
satisfactory degree, any violation of laws or regulations or a material violation of
Company

policies and procedures.

If a Participant’s employment is terminated without cause, the
Administrator shall have the discretion, but not the obligation, to approve a pro rata bonus for the
applicable Participant for the Performance Period during which th
e Participant was terminated in
accordance with Section 7

hereof
..

(d)

Change in Control
..
Except as

otherwise provided in any Related Agreement

, i
f
there is a Change in Control (as defined under the
Company
’s
2020 Stock
Incentive Plan, as
amended, or any suc
cessor equity incentive plan) and a Participant is terminated by the
Company

(or any successor thereof, by merger, acquisition or otherwise) within six months of such Change
in Control for any reason other than for intentional acts of material misconduct o
r omission in
carrying out the duties and responsibilities of such Participant’s position, such Participant shall
earn a

cash bonus equal to the

Target Bonus Percentage

for the applicable

Performance Period in
which the Change in Control occurred multiplie
d

by

the greater of

his or her actual base salary in
effect on the date of

(i)

the employment termination

and (ii) the Change in Control.

Such
payments shall be paid in cash to the Participant as soon as administratively possible, but not later
than 30 da
ys following such termination.

(e)

Section 409A
..

Notwithstanding anything in this Plan to the contrary, if it is
determined that any payment hereunder constitutes “nonqualified deferred compensation” that
would be paid upon “separation from service” of a “spe
cified employee” (as such terms are defined
in Section 409A of the Internal Revenue Code of 1986, as amended), then such payment that
otherwise would have been paid within six months after the Participant’s “separation from service”
shall be accrued, witho
ut interest, and its payment delayed until the first day of the seventh month
following the Participant’s “separation from service,” or if earlier, the Participant’s death, at which
point the accrued amount will be paid as a single, lump sum cash payment.

(f)

Timing of Payments
..

Except as set forth in Sections (6)
(d) and (e) hereof, Earned
B
onuses under this Section 6 will be paid to Participants at the same time as
Earned Bonuses are
paid

to other Participants under the Plan for the applicable Performance Per
iod.

7.

Pro Rata Bonuses
..

(a)

New Hires
..

A new employee who becomes a Participant in connection with such
hire shall earn a pro rata bonus from the date of hire
, but only if the date of hire is on or before
September 30 of

the Performance Period

(or such other d
ate determined by the Administrator)
..

(b)

Transfer; Promotion; Demotion; Retirement; Involuntary Termination Without
Cause
; Death or Disability
..

(i)

For an existing employee who is transferred to a new position which results
in such employee becoming a Participant
, the pro rata period shall begin from the date of
transfer.

(ii)

For an existing employee who was a Participant prior to a promotion and
who continues to be a Participant thereafter, and the Target Bonus Percentage is
increased,
the Earned B
onus will be based
on two pro rata periods: (i) from the beginning of the

	
	

6

Performance Period through the date immediately preceding such promotion, and (ii)

from
the date of such promotion until the end of the Performance Period.

(iii)

For an existing employee who was a Participan
t and who is demoted such
that the employee is no longer a Participant thereafter, the pro rata period will end on the
date immediately preceding such demotion.

(iv)

For an existing employee who retires and for whom a pro rata bonus is
approved by the Administr
ator under Section 6(b)

hereof
, the pro rata period will end on
the date immediately preceding such retirement.

(v)

For an existing employee who was a Participant and who is involuntary
terminated without cause

by the Company

or
its
s
ubsidiary

and for whom a
pro rata bonus
is approved by the Administrator under Section 6(c)

hereof
,
or due to death or Disability,
the pro rata period will end on the date immediately preceding such termination

of
employment.

(c)

Achievemen
t of

Performance Period
..

A pro rata bonus sha
ll

be earned
only
if the
applicable

P
e
rformance
G
oals
, as determi
ned by the Administrator
, in its discretion,

also are
satisfied for the

full

Performance Period.

(d)

Pro Rata Application of Performance Modifier
..  In determining a pro rata bonus,
the Performanc
e Modifier earned for the full Perform
ance Period will be utilized to calculate the
Modified Bonus
,

unless the Administrator determines otherwise.

(e)

Timing of Pro Rata Payments
..

Earned
Bonuses that are
pro rata under this Section
7 will be paid to Partici
pants at the same time as
Earned B
onuses are made to other Participants
under the Plan for the applicable Performance Period

8.

Bonus Clawback
..

The
Holder

agrees to be subject to any “clawback
” or other
comparable policies adopted by the Board or any of its committees to the extent adopted at a time
when
Participant

was employed by the Company.

9.

General

(a)

Amendment and Termination
.. The
Company

reserves the right to amend or
terminate this Plan at any time by
action of the Board

or the
Administrator

with respect to future
services of Participants.

To comply with local laws, the
Company

(acting through the
Administrator) reserves the right to ad
opt amendments, rules, procedures, guidelines or other
documents (collectively “
Addendums
”) affecting this Plan at any time that are applicable only to
such local jurisdictions; provided, however, that any Addendums that are app
licable to any
EO
Participan
t

must be reflected in a written amendment to this Plan that is approved by the
Administrator
..

(b)

Tax Withholding
..

The Participant shall be responsible for all taxes required by law
to be withheld by the
Company

or a
s
ubsidiary in respect of the bonus paymen
t.
The
Company

shall have the right to make all payments or distributions pursuant to the Plan to any person, net
of any applicable federal, state and local payroll or withholding taxes, or the applicable taxes of

	
	

7

any foreign jurisdiction (collectively, “
Taxes”), required to be paid or withheld. The
Company

shall have the right to withhold from wages or other amounts otherwise payable to such Participant
such Taxes as may be required by law, or if permitted by law, to otherwise require the Participant
to p
ay such Taxes. If such person shall fail to make such Tax payments as are required, the
Company

shall, to the extent permitted by law, have the right to deduct any such Taxes from any
payment of any kind otherwise due to such Participant or to take such ot
her action as may be
necessary to satisfy such Tax obligations.

(c)

No Assignment
.. Unless the
Administrator

expressly provides otherwise in writing,
no Participant nor any other person may sell, assign, convey, gift, pledge or otherwise hypothecate
or
alienate any bonus payment
, except for a transfer under the laws of descent or distribution as a
result of the death of the Participant
..

(d)

Non
-
Exclusivity
.. The adoption of the Plan by th
e Board

shall not be construed as
creating any limitations on the

power
of the Board

or Administrator to adopt such other incentive
arrangements as either may deem desirable, including, without limitation, cash or equity
-
based
compensation arrangements, either tied to performance or otherwise, and any such other
arrangements a
s may be either generally applicable or applicable only in specific cases.

(e)

Employment at Will
..

Neither the Plan, the selection of a person as a Participant, the
payment of any

bonus

to any Participant, nor any action by the
Company

or the Administrator
sha
ll be held or construed to confer upon any person any right to be continued in the employ of
the
Company
.. The
Company

expressly reserves the right to discharge any Participant whenever in
the sole discretion of the
Company

its interest may so require.

(f)

No V
ested Interest or Right
..

Except as specified under Section 6 hereof

or
as
otherwise provided in any Related Agreement
, at no time before the actual payment of a bonus to
any Participant or other person shall any Participant or other person accrue any vest
ed interest or
right whatsoever under the Plan, and the
Company

has no obligation to treat Participants
identically under the Plan.

(g)

Beneficiary Designation
..

Each Participant may name, from time to time, any
beneficiary (who may be named contingently or su
ccessively) to whom any benefit under the Plan
is to be paid in case of his or her death before he or she receives any or all of such benefit.

Each
designation will revoke all prior designations by the same Participant, shall be in a form prescribed
by th
e
Company
, and will be effective only when filed by the Participant in writing with the
Company

during his or her lifetime.

(h)

Notices
..  Notices hereunder shall be mailed or delivered to the
Company

at its
principal place of business and shall be mailed or
delivered to the Participant at the address on
file
with the
Company

or, in either case, at such other address as one party may subsequently furnish
to the other party in writing.

(i)

Severability
..  The invalidity or unenforceability of any provision of this P
lan in any
jurisdiction shall not affect the validity, legality or enforceability of the remainder of this Plan in
such jurisdiction or the validity, legality or enforceability of any provision of this Plan in any other

	
	

8

jurisdiction, it being intended that

all rights and obligations of the parties hereunder shall be
enforceable to the fullest extent permitted by law.

(j)

Headings
..

Headings are given to the sections and subsections of the Plan solely as
a convenience to facilitate reference.

Such headings shal
l not be deemed in any way material or
relevant to the construction or interpretation of the Plan or any provision thereof.

(k)

Governing Law
..

The Plan and any agreements and documents hereunder shall be
governed, construed and administered in accordance with

the laws of the State of
Delaware
(regardless of the laws that might otherwise govern under applicable principles of conflicts of laws
of such jurisdiction or any other jurisdiction) and applicable federal law.

(l)

Code Section 409A
.. It is intended that thi
s Plan be exempt from or comply with
Code Section 409A, and the Plan shall be interpreted and administered consistent with that intent;
provided, however, that under no circumstances whatsoever shall the
Company

be liable for any
additional tax, interest o
r penalty imposed upon a Participant, or any other damage suffered by a
Participant, on account of the bonus plan being subject to but not in compliance with Code Section
409A.

	
	

Exhibit
1
0
..1

EXHIBIT A

CALCULATION OF SENIOR LEVEL PERFORMANCE BONUS PAYMENTS

[To be complete
d
..]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}]]