Document:

Exhibit

Exhibit 10.13

COMPENSATION POLICY

TUFIN SOFTWARE TECHNOLOGIES LTD.
Compensation Policy for Executive Officers (including Directors)

1

Table of Contents
	
			
	 
	 
	Page

	A.
	Overview and Objectives
	A- 3

	B.
	Base Salary and Benefits
	A- 5

	C.
	Cash Bonuses (Excluding Directors)
	A- 7

	D.
	Equity-Based Compensation
	A- 10

	E.
	Retirement and Termination of Service Arrangements (Excluding Directors)
	A- 11

	F.
	Exemption, Indemnification and Insurance
	A- 12

	G.
	Arrangements upon Change of Control
	A- 12

	H.
	Board of Directors Compensation
	A- 13

	I.
	Miscellaneous
	A- 14

2

A. Overview and Objectives
		
	1.
	Introduction

This document sets forth the compensation policy for executive officers (this "Compensation Policy" or "Policy") of Tufin Software Technologies  Ltd. ("Tufin" or the "Company" and "Executive Officers", accordingly), in accordance with the requirements of the Companies Law 5759-1999 (the "Companies Law").
Compensation is a key component of Tufin’s overall human capital strategy to attract, retain, reward, and motivate highly skilled individuals that will enhance Tufin’s value and otherwise assist Tufin to reach its business and financial short and long-term goals. Accordingly, this Policy was established to tie the compensation of each Executive Officer to Tufin’s goals and performance.
For purposes of this Policy, "Executive Officers" shall mean "Office Holders" as such term is defined in Section 1 of the Companies Law.
This Compensation Policy shall apply to compensation agreements and arrangements that are approved after the date on which this Compensation Policy is approved by the general meeting of Tufin’s shareholders and shall serve as Tufin’s Compensation Policy for the maximum period permitted by any applicable law. This Compensation Policy will not, and is not intended to, apply to or be deemed to amend employment and/or compensation terms of Executive Officers that were duly approved prior to its effective date. The Compensation Committee (upon its appointment in accordance with applicable law) and the Board of Directors of Tufin (the "Compensation Committee" and "Board", respectively) shall administer, review and reassess the adequacy of this Policy from time to time, as required by the Companies Law. Subject to the terms and conditions of this Policy and any mandatory provisions of applicable law, and in addition to the Board's powers provided elsewhere in this Policy and by the Companies Law, the Board shall have full authority in its discretion, from time to time and at any time, to (i) interpret this Policy; (ii) prescribe, amend and rescind rules and regulations relating to and for carrying out this Policy, as it may deem appropriate; and (iii) and any other matter which it determined to be necessary or desirable for, or incidental to, the administration of this Policy and any determination made pursuant thereto. 
It should be clarified, that wherever reference is made to the required approvals in this Compensation Policy, such reference relates to the applicable law as of the date of approval of this Compensation Policy and in any case is subject to the provisions of Sections 33 and 35 below.
Each of the Executive Officers may be engaged as employee and/or as an independent service provider (including through a company controlled by him, against the issuance of a tax invoice to the Company), provided that if the Executive Officers is engaged as an independent service provider the total amount paid to him (including, but not limited to, value added tax) shall not exceed the maximum amounts paid to Executive Officers who are engaged as employees as specified in this Policy.
This Policy shall not apply to any subsidiaries of the Company except for an employee of a Company subsidiary who is also an Executive Officer of the Company.
		
	2.
	Objectives 

Tufin’s objective in adopting this Compensation Policy is to foster a merit- and performance-based culture in order to attract, motivate and retain highly qualified personnel that enhances short-term and long-term shareholder value while adhering to Tufin’s core values.  To that end, this Policy is designed, among other things:
		
	2.1
	to closely align the interests of the Executive Officers with those of Tufin’s shareholders with a view to enhancing shareholder value;

		
	2.2
	to provide the Executive Officers with a structured compensation package, while creating a balance between fixed components (i.e., base salary and social benefits) and variable components (i.e. bonuses and equity-based compensation) in order to minimize potential conflicts between the interests of Executive Officers and Tufin;

		
	2.3
	to discourage excessive risk taking in advancing Tufin’s business; and 

		
	2.4
	to strengthen retention and the motivation of Executive Officers in the short and long term.

3

This Compensation Policy was prepared taking into account the Company’s nature, size and business and financial characteristics.
		
	3.
	Compensation structure and instruments

Compensation instruments under this Compensation Policy may include the following:
		
	•
	base salary;

		
	•
	benefits and perquisites;

		
	•
	cash bonuses (short-to-medium term incentive);

		
	•
	equity based compensation (medium-to-long term incentive); 

		
	•
	retirement and termination of service arrangements payments; and 

		
	•
	change of control arrangements.

For the purpose of this Compensation Policy:
"Base Salary" shall mean gross salary, before contributions to social benefits; and
"Employment Cost" shall mean any payment for employment, including contributions to social benefits, car and expenses of the use thereof, bonuses and any other benefit or payment. 
		
	4.
	Overall Compensation

		
	4.1
	.General

In setting the compensation of an Executive Officer, the Compensation Committee and the Board shall consider, among other things, the following factors:
		
	•
	the education, qualifications, professional experience, seniority and accomplishments of the Executive Officer; and

		
	•
	the Executive Officer’s position, responsibilities and prior compensation arrangements.

In setting the compensation of an Executive Officer, the Compensation Committee and the Board may also consider, among other things, the following factors:
		
	•
	the Executive Officer’s expected contribution to the Company’s future growth, profitability and stability;

		
	•
	the degree of responsibility imposed on the Executive Officer;

		
	•
	the need to retain Executive Officers who have relevant skills, know-how or unique expertise;

		
	•
	accounting and tax considerations and implications;

		
	•
	the Company's financial status;

		
	•
	data of other companies (including U.S.-based companies), including companies in comparable industries and/or geographic markets, and compensation for comparably situated executives; and

		
	•
	any requirements prescribed by the Companies Law, U.S. securities laws and NYSE rules from time to time.

The Compensation Committee and Board  may engage compensation advisors and other professionals to assist in formulating compensation packages in line with this Policy, including, without limitation, to assist in preparing, collecting and analyzing applicable compensation and benefit surveys and other relevant data; framing the appropriate parameters to be considered; and evaluating the different parameters.
		
	4.2
	Ratio Between Fixed and Variable Compensation

4

This Policy aims to balance the mix of "fixed compensation", comprised of base salary and benefits ("Fixed Compensation") and "variable compensation", comprised of cash bonuses and equity based compensation1 (including but not limited to adjustment period/retirement bonuses, granted in accordance with Section 20 below) ("Variable Compensation") in order to, among other things, appropriately incentivize Executive Officers to meet Tufin’s short and long term goals while taking into consideration the Company’s need to manage a variety of business risks. 
The total Variable Compensation of each Executive Officer shall not exceed 95% of the total compensation package of an Executive Officer on an annual basis. The Board believes that such limit reflects the appropriate compensation mix in the event that all performance objectives are achieved and assumes that all compensation elements are awarded with respect to a given year. 
It should be clarified that the Fixed Compensation may constitute 100% of the total compensation package for an Executive Officer in any year (under circumstances in which a variable component is not approved for that year and/or in the event of a failure to meet previously established goals, if and when determined).
		
	5.
	Intra-Company Compensation Ratio

In drafting this Policy, Tufin’s Board has considered the ratio between employer cost, as such term is defined in the Companies Law, associated with the engagement of the Executive Officers  and the average and median employer cost associated with the engagement of the other employees (including those employed through manpower companies) of Tufin (the "Ratio"). The Board believes that the current Ratio does not adversely impact the work environment in Tufin. 
B. Base Salary and Benefits (Excluding Directors)
		
	6.
	Base Salary

		
	6.1
	Base Salary varies among Executive Officers, is individually determined by the Company and may be reviewed and adjusted by the Company on a periodic basis at its sole discretion.  When determining Base Salary, the Company may also consider, at its sole discretion, prevailing pay levels in the relevant market, Base Salary and the total compensation package of comparable Executive Officers in the Company, the ratio between the Executive Officer’s compensation package and the compensation of other employees in the Company and specifically the median and average salaries and the effect of such ratios on working relations at the Company. 

		
	6.2
	Base Salary shall not exceed the amount specified in the table below:

	
		
	The Executive Officer
	Maximum Base Salary

	CEO
	$600,000

	CTO
	$350,000

	Other Executive Officers (excluding directors)
	$350,000

The Company may link the Base Salary of an Executive Officer to the Israeli Consumer Index or to the exchange rate of any currency.
The exchange rate of US dollar to NIS will be the representative rate of exchange determined by the Bank of Israel as of the date of approval of the compensation of the relevant Executive Officer by the Company’s board of directors.
Since the Executive Officers hold senior management positions, as defined in the Hours of Work and Rest Law, 5711-1951, this law shall not apply to the terms of their office, and they shall not be entitled to any form of compensation for overtime or for working during weekly rest periods.

___________________
1    Determined according to acceptable valuation practices at the time of grant. 

5

The maximum Base Salary set forth in this section is based on the Executive Officer’s full-time position. With respect to an Executive Officer employed by the Company on a part-time basis, the Base Salary maximum will be reduced proportionately, with the Board having the authority to determine the scope of the position of the Executive Officer and change it from time to time.
		
	7.
	Benefits

		
	7.1
	In addition to the Base Salary, the following benefits may be granted to the Executive Officer in order to, among other things, comply with legal requirements:  

		
	•
	paid vacation days in accordance with market practice and applicable law, up to a cap of 45 days per annum, including, if applicable, the redemption thereof; 

		
	•
	sick days in accordance with market practice and applicable law; however, the Company may decide to cover sick days from the first day;

		
	•
	convalescence pay;

		
	•
	medical insurance; 

		
	•
	severance pay;

		
	•
	with respect to Executive Officers employed in Israel: monthly remuneration for a study fund ("Keren Hishtalmut"), as allowed by applicable tax law and with reference to Tufin’s practice and common market practice;

		
	•
	employer contribution to an insurance policy or a pension fund for severance and pension  in accordance with market practice and applicable law (including, payment of such contribution or any portion thereof, directly to the Executive Officer);

		
	•
	employer contribution towards work disability insurance in accordance with market practice and applicable law; and

		
	•
	holiday and special occasion gifts. 

The above list is non-exclusive, and subject to receiving any approvals that are required under applicable law, Tufin may grant its Executive Officers other similar, comparable or customary benefits. In addition, Executive Officers employed outside of Israel may receive other similar or comparable benefits that are customary in the jurisdiction in which they are employed.
		
	7.2
	The Company may offer additional benefits to its Executive Officers, including but not limited to: telecommunication and electronic devices and communication expenses, company car and travel benefits, newspaper subscriptions, periodic medical examinations, holiday and special occasion gifts, academic and professional studies.  For the avoidance of doubt, the grant of registration rights to an Executive Officer shall not be deemed an employment benefit for any purpose.

		
	7.3
	The Company may reimburse its Executive Officers for reasonable work-related expenses incurred as part of their activities, including without limitations, meeting participation expenses, reimbursement of business travel, including a daily stipend when traveling and accommodation expenses. The Company may provide advance payments to its Executive Officers in connection with work-related expenses.

		
	8.
	Signing Bonus

Tufin may grant a newly recruited Executive Officer a signing bonus. Such bonus may be granted in cash, equity or a combination of both (in addition to a cash bonus that can be granted under Chapter C and in addition to equity that can be granted under Chapter D). The signing bonus will not exceed:

6

		
	8.1
	100% of such Executive Officer’s annual Base Salary, if the signing bonus is granted in cash;

		
	8.2
	(i) $5 million maximum fair value for the Chief Executive Officer and (ii) $1.5 million maximum fair value for other Executive Officers, if the signing bonus is granted in equity, in each case determined according to acceptable valuation practices at the time of grant; 

		
	8.3
	In case the signing bonus is a combination of cash and equity, its ceiling shall be proportional to the cash and equity components, calculated in accordance with the ratios mentioned in Sections 8.1 and 8.2 above. 

To the extent possible under the circumstances of each case, the Compensation Committee and the Board shall consider awarding a signing bonus only to provide for the replacement awards that the newly hired Executive Officer forfeited from his or her previous employer, and to the extent possible shall structure such signing bonus to reflect performance, vesting and other conditions equivalent to the forfeited awards; provided however that such bonus shall not be greater than the amounts specified in Sections 8.1 and 8.2 above.
		
	9.
	Reimbursement for Relocation

Tufin may reimburse an Executive Officer for relocation and related expenses in an amount not to exceed $500,000 for each relocation.

C. Cash Bonuses (Excluding Directors)
The Company may grant cash bonuses to its Executive Officers (excluding directors) quarterly, annually or on a shorter or longer basis, in accordance with the principles detailed below.
		
	10.
	Annual Bonuses 

		
	10.1
	The annual bonus that may be paid for any fiscal year shall not exceed twenty-four (24) monthly Base Salaries. 

		
	10.2
	Bonus Criteria

The annual bonus will be based mainly on measurable criteria (referring to Company and/or individual performance measures), and a non-material portion of the annual bonus shall be determined at the discretion of the Compensation Committee and the Board, in accordance with the following metrics: 
	
			
	Position
	Company/Individual Performance Measures

	Company’s Discretion

	CEO
	up to 100%
	not to exceed the higher of: (i) three monthly salaries; or (ii) 25% of the annual variable compensation.

The measurable criteria, target level of achievement and maximum level of achievement, and their relative weight shall be determined (and brought to the attention of the Executive Officers when determined prior to the relevant year or in the beginning of such year (i.e., by March 31 of each year).
In addition, to be eligible for an annual bonus, the Executive Officer must be actively employed by the Company or one of its subsidiaries during the relevant year to which the bonus relates, which condition may be subject to additional limitations, which may include being employed for a minimum period of time during the relevant year or through a certain date.
During a specific year, the Compensation Committee may change the measurable criteria and their relative weight for that year, insofar as exceptional events occur that warrant such a change taking into account: (i) the date of the update; (ii) the balance of the period until the end of the year; (iii) 

7

the expectation of the Executive Officers who are affected by the update of the criteria; and (iv) the need for effective new criteria that create an incentive for the Executive Officers.
Examples of measurable criteria that will be considered include, without limitation:
		
	•
	financial results (e.g., collections, revenues, pre-tax profits);

		
	•
	sales and marketing objectives;

		
	•
	cost savings;

		
	•
	internal and external customer satisfaction;

		
	•
	success in raising capital and/or debt;

		
	•
	meeting the Company’s budget;

		
	•
	number of customers; and

		
	•
	other key performance indicators.

Examples of non-measurable criteria that will be considered include, without limitation:
		
	•
	contribution to the Company’s business, profitability and stability;

		
	•
	the need to retain an Executive Officer with skills, know-how or unique expertise;

		
	•
	the responsibility imposed on the Executive Officer;

		
	•
	changes that occurred in the responsibility imposed on the Executive Officer during the year;

		
	•
	performance satisfaction, including assessing the degree of involvement of the Executive Officer and devotion of efforts in the performance of his or her duties;

		
	•
	assessment of the Executive Officer’s ability to work in coordination and cooperation with other employees; and

		
	•
	the contribution to an appropriate control environment and ethical environment.

The bonus for meeting the objectives that an Executive Officer has met, shall be calculated by multiplying: (i) the weighting of such objective by (ii) the bonus amount.
An Executive Officer will be entitled to a bonus on a pro rata basis for partial compliance of at least 80% of the objective set for such Executive Officer, unless otherwise determined by the Board and the compensation committee. 
Notwithstanding the provisions of Section 10.2 above, the annual bonus to Executive Officers which are not the CEO may be based in whole or in part on discretion (including based on the CEO's opinion on the contribution of the Executive Officer to the Company), provided that it does not exceed the ceiling specified in Section 10.1 above.
		
	11.
	Special Bonuses 

In addition to the annual bonus, Tufin may award an Executive Officer a special bonus based on the achievement by the Company or the Executive Officer of specific goals or the occurrence of specific corporate events (such as private or public offerings, mergers and acquisitions or specific projects, achieving target budget or business plan under exceptional circumstances or for special recognition in the case of retirement).  A special bonus shall not exceed twelve (12) monthly Base 

8

Salaries.  A Special Bonus together with an Annual Bonus shall not exceed thirty six (36) monthly Base Salaries 
Additional Provisions Relating to Cash Bonuses
		
	11.1.
	Pro Rata Payment

Should the employment or service of the Executive Officer terminate prior to the end of a fiscal year, Tufin may, in its discretion, and to the extent not already required under the terms of the Executive Officer’s employment agreement, pay the Executive Officer his or her pro-rata share of that fiscal year’s bonus, based on: (i) whether or not the objectives for that calendar year were achieved; and (ii) the period such Executive Officer was employed by the Company or has served in the Company. 
		
	11.2.
	Compensation Recovery ("Clawback") 

		
	11.2.2
	The terms of employment of each Executive Officer shall entitle the Company to recover from such Executive Officer any compensation, including equity-based compensation, in the amount by which such compensation exceeded what would have been paid under the financial statements as restated ("Compensation Recovery"), provided that a claim is made by Tufin prior to the third (3rd) anniversary of the fiscal year end of the restated financial statements. 

		
	11.2.3
	Notwithstanding the aforesaid, the Compensation Recovery will not be triggered in the following events:

		
	•
	The financial restatement is required due to changes in applicable financial reporting standards; or

		
	•
	The Company (subject to any required approval by the applicable law) has determined that clawback proceedings in the specific case would be impossible, impractical or not commercially or legally efficient.

		
	11.3.
	Reduction or Postponement

In the event of the termination of office of an Executive Officer under circumstances in which he or she will not be entitled to severance pay, the Company (subject to the approvals of the Compensation Committee and the Board) may revoke the entitlement of such an Executive Officer to an annual bonus and to all parts of the annual bonus which have not yet been paid to him.
		
	11.4.
	Timing of Payment

Annual bonuses will be paid to Executive Officers in respect of each calendar year of the employment period no later than the date of payment of the first salary after the date of approval by the Board of the Company’s annual audited financial statements.
Unless a personal employment agreement explicitly determines otherwise, any payment that is made to the Executive Officer on account of variable compensation according to this Compensation Policy, if paid, is not and will not be deemed as part of the Executive Officer’s base salary for all intents and purposes and will not constitute a basis for calculation or for entitlement or for accrual of any related right, including, and without derogating from the generality of the aforesaid, not as a component included in the payment of leave, severance pay, contributions to the provident funds etc. 

9

		
	11.5.
	Taxation

Insofar as any tax liability or other mandatory payment shall be levied on the variable compensation (national insurance, national health tax etc.), the Executive Officer shall bear all such taxes pursuant to law (insofar as it shall apply to the Executive Officer pursuant to law). 

D. Equity Compensation
		
	12.
	General and Objectives

		
	12.1.
	The Company may grant from time to time equity-based compensation which will be individually determined and awarded, among other things, based on the performance, educational background, prior business experience, qualifications, role and the personal responsibilities of the Executive Officer. Equity-based compensation may also be awarded to the Company’s directors provided that any director that is also employed by the Company shall not receive any additional equity compensation in his or her capacity as a director.

		
	12.2.
	The primary objective of equity-based compensation is to enhance the alignment between the interests of the Executive Officers and those of Tufin and its shareholders, and to retain and motivate the Executive Officers. In addition, since equity-based awards are structured to vest over several years, their incentive value to recipients is aligned with medium and longer-term strategic plans.

		
	12.3.
	The equity-based compensation offered by Tufin is intended to be in a form of stock options exercisable for shares of Company common stock, restricted shares or restricted share units (“RSUs”), performance share units  and/or other equity-based awards in accordance with the Company’s 2019 Equity Incentive Plan, as amended from time to time, and under such other equity incentive plans for service providers of the Company or its Affiliates that the Company may adopt from time to time. 

		
	13.
	Fair Market Value

The fair market value of equity compensation for each Executive Officer granted during a calendar year shall not exceed 20X his or her annual Base Salary, determined according to acceptable valuation practices at the time of grant.
		
	14.
	Taxation Regime

Subject to any applicable law, Tufin may determine, the tax regime under which equity-based compensation may be granted, including a tax regime which will maximize the benefit to the Executive Officers.
		
	15.
	Exercise Period

The exercise price for a stock option awarded to an Israeli-resident Executive Officer who is not a United States taxpayer shall equal the average price of the Company’s closing share price over the thirty (30) consecutive trading days on the stock exchange or quotation system on which the Company's shares are traded prior to the grant date of the stock options. If the Company's shares are traded on more than one stock exchange and/or quotation system, the Company shall determine the relevant stock exchange or quotation system for these purposes. The fair market value for a stock option awarded to a non-Israeli-resident Executive Officer shall equal the closing price of the Company’s shares on the date of grant.
Unless otherwise determined by the Compensation Committee, and subject to the provisions of any applicable law, restricted shares and RSUs are not exercised, but rather shares become issued to the holder upon vesting or settlement of the award, as applicable, except to the extent that the holder is required to pay the par value of any underlying shares. In addition, it shall be clarified, 

10

that the vesting of restricted shares and RSUs may be subject to the achievement of goals set in advance and approved in accordance with the applicable law.
Stock options may be exercised on a "cashless" basis.
The Board considered the possibility of determining a ceiling for the exercise value of the variable equity components and decided, taking into account the purpose of the equity-based compensation, not to set such a ceiling in this Policy.
		
	16.
	Vesting

		
	17.
	All equity-based incentives granted to the Executive Officers shall be subject to vesting periods in order to promote long-term retention of such recipients. Grants to Executive Officers (excluding directors) shall vest gradually over a period of no less than three (3) years and no more than four (4) years, while grants to newly appointed directors shall vest over a period of no less than three (3) years and currently serving directors no less than one (1) year.  Such grants may be vested on a quarterly, semi-annual or an annual basis, or based on other time periods (which may not be necessarily equal), as determined by the Company. The Company may condition the vesting of part or all of the equity-based incentives, for some or all of its Executive Officers, upon the achievement of predetermined performance goals. The Company (subject to the abovementioned required approvals) may also set terms relating to vesting in connection with an Executive Officer leaving the Company (due to a dismissal, resignation, death or disability). For details regarding ceilings with respect to director’s equity-based compensation see section 29 below.

		
	18.
	General

All other terms of the equity awards shall be in accordance with Tufin’s incentive plans and other related practices and policies. Accordingly, the Company may extend the period of time for which an award is to remain exercisable and make provisions with respect to the acceleration of the vesting period of any Executive Officer’s awards, including, without limitation, in connection with a corporate transaction involving a change of control, subject to any additional approval as may be required by applicable law. The Committee may amend other terms of an Executive Officer’s grant to the extent provided in the applicable equity incentive plan. 

E. Retirement and Termination of Service Arrangements (Excluding Directors)
		
	19.
	Advanced Notice Period

		
	19.1.
	Tufin may provide each Executive Officer (excluding directors), pursuant to an Executive Officer’s employment agreement advance notice of termination of up to twelve (12) months (the "Advance Notice Period"). During the Advance Notice Period, the Executive Officer shall continue to be entitled to all compensation elements, and to the continuation of vesting of equity awards. 

		
	19.2.
	During the Advance Notice Period, an Executive Officer will be required to keep performing his/her duties pursuant to his or her agreement with the Company, unless the Company waives such performance and pays the amount of compensation payable during such Advance Notice Period in lieu of notice.

		
	20.
	Adjustment Period/Retirement Bonus

In addition to the Advance Notice Period, the Company may provide an adjustment period/retirement payment that will be determined by, among other things, taking into consideration the Executive Officer’s seniority in the Company, his or her performance during employment, his or her contribution to Tufin achieving its goals and the circumstances of the Executive Officer’s retirement or termination. The maximum adjustment period/retirement payment that may be paid to each Executive Officer shall be up to twelve (12) monthly Base Salaries and may only be granted to Executive Officers who have served in the Company for at least twelve (12) months.  

11

		
	21.
	Additional Retirement and Termination Benefits

Tufin may provide additional retirement and terminations benefits and payments: (i) as may be required by applicable law (e.g., mandatory severance pay under Israeli labor laws- unless employment/term of service was terminated for cause); or (ii) which will be comparable to customary market practices, provided however that they shall not exceed twenty four (24) monthly Base Salaries (inclusive of any advance notice period).

F. Exemption, Indemnification and Insurance
		
	22.
	Exemption

Tufin may exempt, either in advance and/or retroactively, its Executive Officers from any liability to the Company, in whole or in part, for damages in consequence of his or her duty of care vis-a-vis the Company, to the fullest extent permitted by law and subject to the provisions of the Company’s Articles of Association. 
		
	23.
	Indemnification

Tufin may indemnify its Executive Officers to the fullest extent permitted by applicable law and the Company’s Articles of Association, for any liability and expense that may be imposed on the Executive Officer, as provided in the Indemnity Agreement between such individuals and Tufin, all subject to applicable law and the Company’s Articles of Association.
		
	24.
	Insurance 

		
	24.1.
	Tufin may provide "Directors’ and Officers’ Liability Insurance" (the "Insurance Policy"), as well as a "run off" insurance policy for its Executive Officers as follows:

		
	•
	The annual premium to be paid by Tufin shall not exceed $750,000 of the aggregate coverage of the Insurance Policy;

		
	•
	The limit of liability of the insurer shall be up to $75 million per event and in the aggregate in the insurance period.

		
	•
	The deductible amount per each claim shall not exceed $1 million. 

		
	•
	The Insurance Policy, as well as the limit of liability and the premium for each extension or renewal shall be approved by the relevant organs of the Company, which ensure that the terms of the Insurance Policy comply with the above. 

		
	•
	The policy will also cover the liability of the controlling shareholders due to their positions as Executive Officers in the Company, from time to time, provided that the coverage terms in this respect do not exceed those of the other Executive Officers in the Company.

G. Arrangements upon Change of Control 
		
	25.
	Upon a "Change of Control" (as defined in the relevant agreement with each Executive Officer) following which the employment of the Executive Officer is terminated, the following benefits may be granted to the Executive Officers in addition to the benefits applicable in the case of any retirement or termination of service:

		
	25.1.
	accelerated vesting of equity awards;

		
	25.2.
	extension of the exercise period of equity awards for a period of up to twenty-four (24) months following the date of termination of employment to the extent it complies with applicable law;

12

		
	25.3.
	extension of the Advance Notice Period set forth in section 19.1 above by up to nine (9) additional months; and

		
	25.4.
	an adjustment period/retirement bonus in accordance with section 20 above, of up to twelve (12) months of Employment Cost.

The total Advance Notice Period  and adjustment period/retirement bonus shall not exceed twenty four (24) monthly Base Salaries.

H. Board of Directors Compensation 
		
	26.
	The compensation of the Company’s directors (including external directors and independent directors) shall not exceed the following:

		
	26.1.
	Base payment of $50,000 per year (the "Base Payment");

		
	26.2.
	Chairman of the Board- an additional amount of $35,000 per year to the Base Payment;

		
	26.3.
	Committee Chairman- an additional amount of $15,000 per year to the Base Payment;

		
	26.4.
	Committee member- an additional amount of $7,500 per year to the Base Payment;

		
	27.
	In addition, the Company may engage with its directors (excluding external and independent directors) for the receipt of consulting services and/or other special services, for a consideration of up to $1,000 per day, plus reasonable expense reimbursement. Such compensation shall be paid for a maximum of 6 days per year for each director.  

		
	28.
	Directors may be granted equity-based compensation in accordance with the applicable principles detailed in Section D of this Policy, and subject to the provisions of the Companies Law and the regulations thereunder.2 

Equity based-compensation granted to the Company’s directors, shall not exceed the following amounts (subject to any applicable law):3 
		
	28.1.
	$250,000 for each year of grant  according to acceptable valuation practices at the time of grant (the "Equity Compensation"); and

		
	28.2.
	Upon joining the Board, $500,000 according to acceptable valuation practices at the time of grant;

		
	29.
	An active Chairman of the Board may receive compensation in accordance with the criteria for compensation of Executive Officer who is not the CEO who are not directors, adjusted to the scope of his position.

		
	30.
	Tufin’s external and independent directors may be entitled to reimbursement of expenses in accordance with the Companies Law and the regulations thereunder. 

___________________
2.     The equity-based compensation is determined according to acceptable valuation practices at the time of grant,  
3    Determined according to acceptable valuation practices at the time of grant.

13

I. Miscellaneous
		
	31.
	This Policy is designed solely for the benefit of Tufin. Nothing in this Compensation Policy shall be deemed to grant any of Tufin’s Executive Officers or employees or any third party any right or privilege in connection with their employment by the Company or its subsidiaries and their compensation thereof. Such rights and privileges, to which Executive Officers or employees serving in the Company or that will serve in the Company in the future, are entitled for, shall be governed by the respective personal employment agreements.

		
	32.
	This Policy is subject to applicable law and is not intended, and should not be interpreted as limiting or derogating from, provisions of applicable law to the extent not permitted, nor should it be interpreted as limiting or derogating from the Company’s Articles of Association.

		
	33.
	This Policy is not intended to affect current agreements nor affect obligating customs (if applicable) between the Company and its Executive Officers as such may exist prior to the approval of this Compensation Policy, subject to any applicable law.

		
	34.
	In the event of amendments made to the Companies Law or any regulations promulgated thereunder providing relief in connection with Tufin’s compensation to its Executive Officers, Tufin may elect to act pursuant to such relief without regard to any conflict with this Policy.  

		
	35.
	The Company (subject to any required approvals by the applicable law) may determine that none or only part of the payments, benefits and perquisites shall be granted, and is authorized to cancel or suspend a compensation package or part of it.

		
	36.
	An immaterial change in the terms of office of Executive Officers (excluding the CEO, directors, a controlling shareholder or a controlling shareholder’s relative) during the term of this Compensation Policy, will be subject to the approval of the Company’s CEO only (changes in the terms of office of the CEO shall be approved in accordance with the Companies Law). An immaterial change in this matter shall be deemed to be a change that: (i) does not exceed ten percent (10%) of the total annual compensation of such Executive Officer; and (ii) is in line with the provisions of this Compensation Policy. 

		
	37.
	The compensation components detailed in this Policy do not relate to various components that the Company may provide to all or part of its employees and/or its Executive Officers, such as: parking spaces, entry permits for its assets, reimbursement for meals and accommodation expenses, vacations, company events, etc.

		
	38.
	This Policy shall take effect upon its approval in accordance with the Companies Law. The term of this Policy shall not be limited in time, except that it will terminate at the earlier of (i) such time that the Policy is no longer in effect under the Companies Law, or (ii) such time that the Policy is terminated by the Board, to the extent that the Board has the power under the Companies Law to terminate the Policy or (iii) such time as the Company shall determine that the Terms of Office and Engagement of Office Holders is not required to be made pursuant to a Compensation Policy under the Companies Law, including, without limitation of the foregoing, in the event that the Company ceases to be a Public Company (as defined in the Companies Law), in which case this Policy shall have no effect with respect to the period after the Company ceasing to be a Public Company.

		
	39.
	This Policy shall be governed by the laws of the State of Israel, excluding its conflict of law rules, except with respect to matters that are subject to tax or labor laws in any specific jurisdiction, which  shall be governed by the respective applicable law of such jurisdiction. 

*********************

14Exhibit
10.31

 

PATENT
PURCHASE AGREEMENT

 

This
PATENT PURCHASE AGREEMENT (“Agreement”) is entered into and made effective as of the date of last execution
of this Agreement (“Effective Date”) by and between salesforce.com, inc., a Delaware corporation with
a place of business at The Landmark @ One Market Street, Suite 300, San Francisco, CA 94105 (“Purchaser”),
and hopTo Inc, a _Delaware corporation, with a place of business at 6 6 Loudon Rd. Suite 200, Concord, NH 03301 (“Seller”)
(each of Seller and Purchaser a “Party” and collectively referred to as the “Parties”).

 

WITNESSETH:

 

WHEREAS,
Seller owns certain patents and patent applications set forth in Exhibit A hereto;

 

WHEREAS,
Purchaser desires to purchase from Seller, and Seller desires to sell and assign to Purchaser, such patents and patent applications
on the terms and conditions set forth herein;

 

NOW,
THEREFORE, in consideration of the premises and of the mutual covenants set forth herein, the sufficiency and receipt of which
the Parties hereby acknowledge, the Parties, intending to be legally bound, hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

	 	1.1	Capitalized
    Terms. In addition to those terms defined in the body of this Agreement, the following capitalized terms shall have the
    meanings set forth below:

 

	 	(a)	“Affiliate”
    means a legal entity that Controls, is Controlled by, or is under common Control with a Party. Such legal entity shall constitute
    an Affiliate of the Party only when and for so long as the Control exists.

 

	 	(b)	“Assigned
    Patents” means each of the following, whether or not pending, issued, expired, abandoned or closed: (a) the Patents
    listed on Exhibit A (“Listed Patents”), attached hereto and incorporated herein, (b) any and all Patents that
    are part of the same Patent Families as the Listed Patents, (c) any and all of the inventions, invention disclosures, and
    discoveries existing as of the Effective Date to the extent disclosed or claimed in subitems (a) and (b) above, and (d) any
    rights of priority created by such Patents under any treaty relating thereto.

 

	 	(c)	“Assignment
    Agreements” means any executed agreements assigning, changing, confirming or correcting ownership (including without
    limitation original patent assignment agreements) of any part, portion or all rights in the Assigned Patents from the Inventor(s)
    and/or any prior owner to any prior owner or Seller.

 

	 	(d)	“Bona
    Fide Owned and Controlled” means for the purpose of a design that ownership and control was not transferred or provided
    for purposes of providing a license to cover an offering of a third party under the licenses granted herein.

 

	 	(e)	“Change
    of Control” means (a) any transaction or series of transactions whereby any person or entity directly or indirectly
    acquires Control of another person or entity; or (b) the consummation (whether directly or indirectly through one or more
    intermediaries) of a sale or other disposition of all or substantially all of another person’s or entity’s assets
    in any single transaction or series of related transactions.

 

    	 	Page 1 of 21	 

    	 	 	 

    

 

	 	(f)	“Control”
    (including the correlative meanings of the terms “Controls”, “Controlled by” and “under common
    Control with”) means the direct or indirect ownership of more than fifty percent (50%) of an entity, or the possession,
    directly or indirectly, of the power to direct or cause the direction of the management or policies of a person or an entity,
    whether through the ability to exercise voting power, by contract or otherwise.

 

	 	(g)	“Disclaimer
    Issue” means a terminal disclaimer (including under 35 U.S.C. Sec. 253 or 37 CFR 1.321 or the equivalent laws or
    regulation of any other patent authority) that exists or is or should reasonably be required to be made in a patent or patent
    application to address a double patenting issue, including such an issue raised in a judicial or administrative proceeding
    (including any proceeding with the U.S. Patent and Trademark Office or any corresponding foreign patent authority).

 

	 	(h)	“Encumbrance”
    means with respect to any of the Assigned Patents, any mortgage, lien, pledge, charge, Commitment, security interest, express
    or implied license, Grant, judgment, stipulation, court order or decree, or other restriction regarding transfer or licensing,
    or any other commitment to a third party which would result in any such Encumbrance whether currently existing or arising
    in the future.

 

	 	(i)	“Governmental
    Entity” means any court, administrative agency or commission or other federal, state, county, local or foreign governmental
    authority, instrumentality, agency commission or subdivision thereof, including but not limited to the U.S. Patent and Trademark
    Office (“PTO”) and the European Patent Office (“EPO”).

 

	 	(j)	“Grant”
    means a license, waiver of any rights of enforcement (including but not limited to any covenant not to sue, covenant not to
    assert, or standstill agreement), release of any claim, or other grant of any right.

 

	 	(k)	“Grant
    Back License” has the meaning set forth in Section 2.3.

 

	 	(l)	“Importation
    Information” means an electronic file provided by Seller, in the form provided by Purchaser, containing certain
    information requested by Purchaser regarding the Assigned Patents.

 

	 	(m)	“including”
    means including without limitation.

 

	 	(n)	“Inventor”
    means each of the named inventors of each of the Assigned Patents as well as any inventor who should be or should have been
    named on each of the Assigned Patents.

 

	 	(o)	“or”
    means “and/or”.

 

	 	(p)	“Patent
    Documents” means (i) all prosecution files (physical and electronic) and docket reports (capturing a time period
    no shorter than ninety (90) days following the Effective Date) for all of the Assigned Patents in the possession or control
    of Seller, its counsel or its agents; (ii) all Assignment Agreements; (iii) all documents, records and files in the possession
    or control of Seller, its counsel or its agents (and including any and all of each Inventor) with respect to (A) the conception
    and reduction to practice (and diligence in reduction to practice) of the inventions of any of the Assigned Patents, (B) the
    disclosure of, acquisition, prosecution, registration, reissuance, correction, enforcement, defense, and maintenance of the
    Assigned Patents (including without limitation ribbon copies of any letters patent), (C) Seller’s marking activities
    and program(s) with respect to the Assigned Patents, and (D) Seller’s licensing or sales activities with respect to
    the Assigned Patents; and (iv) all other material documentation or information in the possession or control of Seller, its
    counsel or its agents related to the Assigned Patents. Notwithstanding the foregoing, Patent Documents shall exclude any documents
    or information in clauses (i) - (iv) of this Section which are subject to the doctrines of attorney-client privilege, attorney
    work-product, joint defense, common interest and/or any other applicable privilege or immunity (collectively, “Common
    Interest Privilege”) if providing such documents or information to Purchaser cannot be accomplished in a manner that
    protects such Common Interest Privilege.

 

    	 	Page 2 of 21	 

    	 	 	 

    

 

	 	(q)	“Patent
    Family” means a set comprised of all Patents (a) that are linked or entitled to be linked through one or more claims
    of benefit or priority pursuant to 35 U.S.C. §§ 120 or 119 (or the equivalent laws or regulation of any other patent
    authority) or by a terminal disclaimer pursuant to 35 U.S.C. § 253 or 37 CFR § 1.321 (or the equivalent laws or
    regulation of any other patent authority) or (b) that are, or are entitled to be, foreign counterparts, reissues, divisionals,
    extensions, continuations or continuations-in-part with respect to any other Patent in such set.

 

	 	(r)	“Patents”
    means any United States, foreign or international patents and patent applications, patents and patent applications resulting
    or issuing therefrom, certificates of invention, utility models or any other grants by any Governmental Entity for the protection
    of inventions, including all non-provisionals, provisional, reissues, divisionals, continuations, continuations-in-part, re-examinations
    and extensions of any of the foregoing; provided, however, that when the term “Patent” is used in the context
    of, or to refer to, a particular patent or patent application, or a patent or patent application on a schedule, the term shall
    mean only that particular patent or patent application, as the case may be.

 

	 	(s)	“Seller
    Product” means any product, which as of the Effective Date, meets all of the following: (i) the design of the product
    is Bona Fide Owned and Controlled by Seller, (ii) the product is solely marked with, and marketed and sold solely by or on
    behalf of Seller under, a trademark, service mark or brand name owned by Seller and (iii) in the absence of a license or other
    authorization, the product would infringe one or more of the Assigned Patents.

 

	 	(t)	“Subsidiary”
    means a legal entity that is Controlled by a Party. Such legal entity shall constitute a Subsidiary of the Party only when
    and for so long as the Control exists.

 

	 	(u)	“Transfer
    Documents” mean fully executed patent transfer documents, in a form approved by Purchaser suitable for filing with
    the relevant Governmental Authority, in each jurisdiction where the Assigned Patents issued from or have been filed, as the
    case may be, in each case to record the change of ownership of the Assigned Patents from Seller to Purchaser. Unless otherwise
    directed by Purchaser, Transfer Documents for U.S. Assigned Patents shall be as provided in the form of Exhibit B (“Patent
    Assignment”).

 

ARTICLE
II

TRANSFER
OF ASSIGNED PATENTS AND COOPERATION

 

	 	2.1	Initial
    Transfer. Effective as of the Effective Date, Seller hereby irrevocably sells, transfers, conveys and assigns, and shall
    cause its Affiliates to irrevocably sell, transfer, convey and assign, to Purchaser (or its designee, as to any or all of
    the Assigned Patents), and Purchaser hereby acquires from Seller or its Affiliates, all right, title and interest in and to
    (i) all Assigned Patents, including without limitation the right to sue, license and collect and receive all income, royalties,
    damages, payments due, injunctive relief and any other settlements or remedies (including, without limitation, causes of action
    and rights to damages and payments for past, present or future infringements or misappropriations) with respect thereto, in
    each case, in all countries relating to the Assigned Patents and (ii) the Patent Documents and rights (including copyrights)
    with respect thereto. The Parties understand and agree that no license agreements or other contracts, obligations or other
    liabilities of Seller, Seller’s Affiliates or prior owners, whether listed in Exhibit C of this Agreement or not, are
    assigned, delegated or otherwise transferred to or assumed by Purchaser hereunder, whether expressly, by implication, by reason
    of estoppel or otherwise.

 

    	 	Page 3 of 21	 

    	 	 	 

    

 

	 	(a)	Additional
    Transfers.

 

	 	1.	To
    the extent all right, title and interest in and to any Assigned Patent is not transferred pursuant to Section 2.1 (Initial
    Transfer) for whatever reason, Seller hereby irrevocably sells, transfers, conveys and assigns to Purchaser, and shall cause
    its Affiliates to irrevocably sell, transfer, convey and assign, and Purchaser hereby acquires from Seller or its Affiliates,
    all right, title and interest in and to such Assigned Patent in accordance with the terms of this Agreement, including the
    right to sue, license and collect and receive all income, royalties, damages, payments due, injunctive relief and any other
    settlements or remedies (including, without limitation, causes of action and rights to damages and payments for past, present
    or future infringements or misappropriations) with respect thereto, effective as of the Effective Date.

 

	 	2.	If,
    after the Effective Date, any Assigned Patent is subject to a Disclaimer Issue linking it to a Patent of Seller, Seller shall,
    without additional consideration, nunc pro tunc transfer and does hereby convey as of the Effective Date (to the extent not
    previously effectively assigned by Seller to Purchaser pursuant to Section 2.1), ownership of such Seller Patent to Purchaser
    and such Patent shall be considered an Assigned Patent hereunder.

 

	 	(b)	Undisclosed
    Patents. If at any time it is determined that a Patent (including patent applications, regardless of status) exists or
    existed that is part of the same Patent Family corresponding to one or more of the Assigned Patents and such Patent was not
    identified as an Assigned Patent, then, in addition to any other remedies Purchaser may have under this Agreement, Seller
    shall upon notice from Purchaser promptly assign such Patent (and any Patents that may have issued therefrom) to Purchaser.

 

	 	2.2	Delivery.
    On the Effective Date, Seller shall have delivered to Purchaser the following:

 

	 	(a)	All
    Transfer Documents, fully executed and notarized where appropriate;

 

	 	(b)	Electronic
    copies of the prosecution files, docket reports and Assignment Agreements referred to in clauses (i) and (ii) of the definition
    of Patent Documents; and

 

	 	(c)	The
    Importation Information.

 

	 	2.3	Grant
    Back License.

 

	 	(a)	Subject
    to the terms of this Section 2.3, and effective as of the Effective Date, Purchaser hereby grants back to Seller and each
    of its Subsidiaries (but only as long as such Subsidiary is and remains a Subsidiary of Seller), an irrevocable, non-exclusive,
    non-transferable and non-assignable (except in the event of a Change of Control as set forth below), non-sublicensable, worldwide,
    fully paid-up license under the Assigned Patents, to make, have made (to the extent substantially designed by Seller or its
    Subsidiaries), import, use, offer to sell, sell and otherwise dispose of Seller Products to any third party. The license and
    rights set forth in this Section 2.3 shall apply only to the Assigned Patents assigned by Seller to Purchaser under this Agreement
    and shall not apply to any other Patents of Purchaser or any of its Affiliates, whether by implication, estoppel or otherwise
    (even if such other Patents are necessary for practice of the Assigned Patents).

 

    	 	Page 4 of 21	 

    	 	 	 

    

 

	 	(b)	Further
    Limitations on Grant Back License.

 

	 	1.	The
    license granted back to Seller and its Subsidiaries is expressly set forth in Section 2.3 above and no other licenses, authorizations
    or rights are granted or conveyed, whether expressly or by implication or otherwise, all of which are expressly disclaimed.

 

	 	2.	Notwithstanding
    anything to the contrary, the license granted under Section 2.3: (i) excludes the right to grant sublicenses; (ii) is non-transferable
    and non-assignable (except in the event of a Change of Control as set forth below); (iii) excludes the right to further place
    any Encumbrance on the Assigned Patents; (iv) excludes any covenant, license (except for the grants expressly set forth in
    Section 2.3(a) above), authorization, or other right, express or implied or by estoppel or otherwise, to make, have made,
    import, use, offer to sell, sell and otherwise dispose of any products (even if such products are used in combination with
    Seller Products as described and limited by Section 2.3); (v) does not include the right under any Assigned Patent to manufacture
    or have manufactured products or Seller Products as a foundry or contract manufacturer for a third party, or to otherwise
    manufacture, sell, or otherwise distribute products or Seller Products for or on behalf of any third parties, or to otherwise
    sell, lease or transfer any product without material modification back to the same supplier or customer or an affiliate thereof;
    and (vi) shall not be deemed or construed to grant, make or constitute any license, covenant, immunity, authorization or right,
    whether by implication, estoppel, acquiescence, reliance or otherwise, with respect to any activities that Seller undertakes
    for or on behalf of any third party where the purpose of such third party choosing Seller is obtaining rights under one or
    more Assigned Patents (i.e., patent laundering). In the event of a Change of Control, Seller’s successor-in-interest
    shall continue to hold the license granted under Section 2.3, but only as it relates to Seller Products in existence as of
    the time of such Change of Control, as may carry the trademark, service mark or brand name of such successor-in-interest,
    and to successor versions of such Seller Products designed by or for such successor-in-interest.

 

	 	3.	Seller
    acknowledges and understands that Purchaser and its Affiliates own or control a substantial number of Patents relating to,
    among other things, technology that may relate to the Assigned Patents, and that the economics of this Agreement are premised
    on the understanding that Seller is acquiring no rights to any of Purchaser’s or its Affiliate’s Patents other
    than the Assigned Patents as expressly set forth in this Section 2.3. Seller agrees that it has no rights to such other Patents,
    even if such other Patents are deemed necessary for the practice of the Assigned Patents, or are necessarily infringed by
    the Seller Products.

 

    	 	Page 5 of 21	 

    	 	 	 

    

 

	 	2.4	Further
    Assurances.

 

	 	(a)	Further
    Cooperation.

 

	 	i.	Seller
    shall, and Seller shall direct its Affiliates and its and their employees (including all employed Inventors) to, fully cooperate
    with and assist Purchaser and any successor, its counsel and similar agents in securing the Purchaser’s rights in the
    Assigned Patents in any and all countries and in the enforcement, prosecution and maintenance of the Assigned Patents without
    additional consideration, including facilitating the cooperation of the Inventors (whether employed by Seller or not). Without
    limiting the generality of the foregoing, following the Effective Date, Seller agrees that its cooperation and assistance
    hereunder will include (if requested by Purchaser), without limitation, (a) the full disclosure to Purchaser of all pertinent
    factual or other information and data reasonably available to Seller, including providing contact information for Inventors,
    (b) the execution of all applications, specifications, papers, documents, oaths, assignments, declarations, affidavits and
    all other instruments which Purchaser shall request as may be necessary and proper to obtain and vest such rights and in order
    to assign and convey to Purchaser, its successors, assigns, and nominees the sole and exclusive right, title and interest
    in and to the Assigned Patents and otherwise completely effect consummation of the transactions contemplated by this Agreement,
    (c) making factual witnesses available upon the reasonable request of Purchaser and participation in any litigation defenses
    including the giving of testimony in any suit, legal action, hearing, investigation, or other proceeding relating to the Assigned
    Patents, (d) if requested by Purchaser, joinder as a necessary party plaintiff or in another capacity reasonably requested
    by Purchaser, and (e) reasonably cooperating with and assisting Purchaser, in any legal or equitable action, litigation, arbitration
    or other legal, regulatory or administrative proceeding regarding any of the Assigned Patents or the scope, infringement or
    validity thereof (“Patent Proceeding”), including, without limitation, enforcement of any of the Assigned
    Patents against potential infringers in any court proceeding or before the International Trade Commission (ITC) and proceedings
    regarding any of the Assigned Patents before the PTO, EPO or any other similar agency; provided, however, that Purchaser shall
    have sole control and discretion over any and all such Patent Proceedings and any settlement thereof, and the exclusive right
    to receive, retain and enforce all damages, awards, and other remedies of any kind in connection with any such Patent Proceeding,
    or (f) the performance of any other acts as may be necessary and proper to vest full title and transfer all rights and interest
    in and to the Assigned Patents in Purchaser (or its designee) and otherwise completely effect consummation of the transactions
    contemplated by this Agreement. With respect to items (c), (d) and (e) of this paragraph, Purchaser will reimburse Seller
    for all preapproved, reasonable, out-of-pocket costs incurred in connection with providing the assistance and cooperation
    requested by Purchaser hereunder, and Purchaser shall reimburse Seller, its employees, attorneys, agents and inventors at
    a reasonable hourly rate mutually agreed upon by the Parties for time spent in connection with providing assistance or cooperation
    requested by Purchaser hereunder.

 

	 	ii.	Within
    thirty (30) days following the Effective Date, Seller shall provide to Purchaser or its designee all Patent Documents. For
    the avoidance of doubt, the obligations set forth in this Section are in addition to, and not intended to replace or contradict,
    the obligations set forth in Section 2.2(b).

 

	 	iii.	Within
    five (5) business days following the Effective Date, Seller shall, at Seller’s expense, notify all foreign and domestic
    counsel identified in the Implementation Information that the Assigned Patents have been transferred to Purchaser (or Purchaser’s
    designee) as of the Effective Date and direct such counsel to (i) digitize and electronically transfer all Patent Documents
    to Purchaser (or Purchaser’s agent) within thirty (30) days of such notification, (ii) ship all physical Patent Documents
    to a location specified by Purchaser within thirty (30) days of such notification, (iii) provide Purchaser with a manifest
    and tracking number for all materials shipped to Purchaser, (iv) send Purchaser a copy of all notices regarding the Assigned
    Patents which it receives, and (v) satisfy any reasonable information requests by Purchaser (at Seller’s expense) and
    otherwise take direction from Purchaser with respect to the Assigned Patents. For the avoidance of doubt, the obligations
    set forth in this Section are in addition to, and not intended to replace or contradict, the obligations set forth in Section
    2.2(b).

 

    	 	Page 6 of 21	 

    	 	 	 

    

 

	 	iv.	Seller
    shall, on or before the Effective Date, pay all maintenance, annuity, renewal and issuance fees and the like with respect
    to the Assigned Patents that are due and payable prior to the end of the ninety (90) day period following the Effective Date.

 

	 	(b)	Limited
    Power of Attorney. Seller hereby irrevocably constitutes and appoints Purchaser, with full power of substitution, to be
    its true and lawful attorney, and in its name, place or stead, to execute, acknowledge, swear to and file, all applications,
    specifications, papers, documents, oaths, assignments, declarations, affidavits and all other instruments, and to take any
    action which shall be necessary, appropriate or desirable to effectuate the transfer, or prosecution of the Assigned Patents
    in accordance with the terms of this Agreement; provided, however, that such power shall be exercised by the
    Purchaser only in the event that Seller fails to take the necessary actions required hereunder to effect or record such transfer,
    or prosecution of such Assigned Patents within thirty (30) days of Purchaser’s reasonable request, or ten (10) days
    prior to the deadline for taking the required action if earlier. This power of attorney shall be deemed to be coupled with
    an interest and shall be irrevocable.

 

	 	(c)	Additional
    Releases. To the extent any Assigned Patents have any liens or security interests upon them after the Effective Date in
    violation of Section 4.12, without limiting Seller’s other obligations hereunder, Seller shall promptly seek, obtain
    and record from its lenders or other third party the release of any liens or security interest that they may have on any of
    the Assigned Patents, including any liens on any Patent that is determined to be an Assigned Patent but that was not an Assigned
    Patent as of the Effective Date and Seller hereby waives any remedies with respect to the release of any such liens or security
    interests.

 

	 	(d)	Common
    Interest Privileged Information. Seller shall: (a) use best efforts to maintain Common Interest Privilege with respect
    to all materials or information protected under a Common Interest Privilege (“Privileged Information”) existing
    as of the Effective Date that relates to the Assigned Patents; and (b) provide Purchaser with at least fifteen (15) days prior
    written notice before disclosing to any third party, or waiving any such Common Interest Privilege with respect to, any such
    Privileged Information. In the event that Seller subsequently waives a Common Interest Privilege with respect to Privileged
    Information related to the Assigned Patents, Seller shall also provide such Privileged Information to Purchaser. Upon Purchaser’s
    request following the Effective Date, Seller and Purchaser shall negotiate and enter into a common interest agreement under
    which Seller may have access to, while preserving the Common Interest Privilege thereof, Privileged Information that Purchaser
    believes necessary for Purchaser’s licensing or enforcement of the Assigned Patents, at no additional cost to Purchaser
    other than Seller’s reasonable out-of-pocket expenses incurred in the course of fulfilling its obligations under such
    agreement.

 

	 	(e)	Conduct.
    Seller shall not engage in any act or conduct, or omit to perform any necessary act, the result of which would invalidate
    any portion of any of the Assigned Patents or render any portion of them unenforceable.

 

	 	(f)	Patent
    Maintenance, Enforcement, and Licensing. After the Effective Date, Purchaser shall have the sole right, but no obligation,
    to prosecute, maintain, enforce, license, and take any other actions with respect to the Assigned Patents in its sole discretion.

 

    	 	Page 7 of 21	 

    	 	 	 

    

 

ARTICLE
III

PAYMENT
AND TAXES

 

	 	3.1	Payment.
    Upon the terms and subject to the conditions of this Agreement (including, without limitation, Seller’s compliance with
    Section 2.2), in full payment for the sale, conveyance, assignment, transfer and delivery of the Assigned Patents, Purchaser
    agrees to remit to Seller a sum equal to four hundred thousand United States Dollars (US $400,000.0) (the “Purchase
    Price”) within ten (10) business days following the Effective Date. Payment shall be made by wire transfer to:

 

hopTo
Inc

6
Loudon Rd.

Suite
200

Concord,
NH 03301

 

Wells
Fargo Bank

Checking
Account#

ABA#

 

Bank
Address:

400
Hamilton Ave.

Suite
210

Palo
Alto, CA 94301

Phone:
650-855-7730

 

	 	3.2	Transfer
    Taxes. Seller shall be solely responsible for the payment of, and shall pay when due, any federal, state, local, foreign
    or other tax, duty, levy, impost, fee, assessment or other governmental charge, including without limitation income, gross
    receipts, business, occupation, sales, stamp, value-added, excise (or similar transfer taxes), use, or other tax of any kind
    whatsoever and any premium, together with any interest, penalties, surcharges, fines and additions attributable to or imposed
    with respect to the foregoing (collectively “Taxes”) that may be payable in connection with the sale or
    purchase of the Assigned Patents and Seller shall indemnify Purchaser against any such Taxes as provided in Section 6.2 (Indemnification).

 

ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES OF SELLER

 

Seller
hereby represents and warrants to Purchaser, as of the Effective Date, the following:

 

	 	4.1	Corporate
    Organization. Seller is a corporation duly organized, validly existing and in good standing under the respective laws
    of its jurisdiction of incorporation, is duly qualified and is in good standing under the laws of each jurisdiction in which
    the character of the properties and assets now owned or held by it or the nature of the business now conducted by it requires
    it to be so licensed or qualified. Seller has full corporate power and authority to carry on its business as now being conducted.

 

    	 	Page 8 of 21	 

    	 	 	 

    

 

	 	4.2	Authority.
    Seller has full corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder.
    The execution and delivery of this Agreement by Seller and the performance by Seller of its obligations hereunder have been
    duly authorized by all necessary corporate action. This Agreement has been duly executed and delivered by Seller and constitutes
    the legal, valid and binding obligation of Seller, enforceable against it in accordance with its terms and, as to enforcement,
    to general principles of equity, regardless of whether applied in a proceeding at law or in equity.

 

	 	4.3	No
    Conflict; No Consents. The execution and delivery of this Agreement and the performance of the obligations of Seller hereunder
    will not (i) violate or be in conflict with any provision of law, any order, rule or regulation of any court or other agency
    of government, or any provision of Seller’s articles of incorporation or bylaws, (ii) violate, be in conflict with,
    result in a breach of, constitute (with or without notice or lapse of time or both) a default under, or result in the acceleration
    of any obligations under, any indenture, agreement, lease or other instrument to which Seller is a party or by which it or
    any of its properties are bound, or (iii) result in the creation or imposition of any Encumbrance upon any of the Assigned
    Patents. No consent, approval or authorization of or declaration or filing with any Governmental Entity or other person or
    entity on the part of Seller is required in connection with the execution or delivery of this Agreement or the consummation
    of the transactions contemplated hereby.

 

	 	4.4	List
    of Assigned Patents. Exhibit A sets forth a true, accurate and complete list of Assigned Patents and for each such Patent,
    the title, the Inventors’ names, the Patent number or serial number (as applicable), the filing date or issue date,
    the country in which the relevant Patent has been issued or applied for.

 

	 	4.5	Prosecution.
    Each Assigned Patent has been prosecuted in compliance with the rules and processes of the United States Patent and Trademark
    Office (or the equivalent rules or processes of any other applicable patent authority anywhere in the world) and all applications
    for the Assigned Patents are true and correct in all material respects, including with respect to inventorship. To the extent
    “small entity” fees were paid to the United States Patent and Trademark Office for any Patent, such reduced fees
    were then appropriate because the payor qualified to pay “small entity” fees at the time of such payment in accordance
    with applicable law.

 

	 	4.6	Assignment
    Agreements. For each Assigned Patent, Seller has obtained one or more Assignment Agreements which collectively assign
    all rights in such Patents to Seller. Seller has properly recorded all such previously executed Assignment Agreements with
    respect to the Assigned Patents as necessary to fully perfect its rights and title therein in accordance with governing laws
    and regulations in each respective jurisdiction.

 

	 	4.7	Public
    Use, Disclosure or Sale. For each Assigned Patent, no acts or omissions of Seller, or any party acting on behalf of or
    at the direction of Seller, have or shall invalidate or hinder enforcement of such Patent under the laws of any jurisdiction
    (including under 35 U.S.C. §102(b)) including as a result of (i) disclosure of the invention or a printed publication
    that describes the claimed invention, (ii) public use of the claimed invention, or (iii) sale or offer for sale of the claimed
    invention prior to the application for such Patent.

 

	 	4.8	Knowledge
    of Invalidity. None of the Assigned Patents has ever been found invalid or unenforceable for any reason in any administrative,
    arbitration, judicial or other proceeding, and Seller does not know of and has not received any notice or information of any
    kind from any source suggesting that the Assigned Patents may be invalid or unenforceable. To Seller’s Knowledge (as
    defined below), none of the Assigned Patents is invalid or unenforceable, nor is Seller aware of any facts or circumstances
    that would render any Assigned Patent invalid or unenforceable.

 

    	 	Page 9 of 21	 

    	 	 	 

    

 

	 	4.9	Ownership
    and Encumbrances.

 

	 	(a)	Seller
    is the sole legal and beneficial owner of all right, title and interest, and has valid title, to all the Assigned Patents
    (including all rights to sue and collect damages for past, present and future infringement), free and clear of any Encumbrances,
    except as set forth in Exhibit C (“Encumbrances”), attached hereto and incorporated herein. Except as set forth
    in Exhibit C, upon transfer of the Assigned Patents from Seller to Purchaser hereunder, none of the Assigned Patents will
    be subject to any restrictions with respect to the transfer or licensing of such Patents or is subject, or will be subject,
    to any Encumbrance as a result of any facts, circumstances or agreements existing before the Effective Date. To the extent
    any exceptions to the foregoing are listed on Exhibit C, such exhibit includes a complete and accurate list and description
    of all Encumbrances, including, but not limited to, any relevant dates and parties.

 

	 	(b)	The
    Assigned Patents are not subject to any exclusive Grant to a third party.

 

	 	(c)	Except
    as set forth on Exhibit C, Purchaser will not be subject to any covenant not to sue, license or other similar restriction
    on its enforcement or enjoyment of the Assigned Patents as a result of any prior transaction related to the Assigned Patents.

 

	 	(d)	Seller
    has provided Purchaser with complete copies of all documentation reflecting the Encumbrances identified in Exhibit C and all
    such copies are complete in all material respects and no information has been deleted, omitted or redacted from such copies.

 

	 	(e)	Except
    for Purchaser, there are no existing contracts, agreements, options, commitments, proposals, bids, offers, or rights with,
    to, or in any person to acquire any of the Assigned Patents.

 

	 	(f)	As
    of the Effective Date, none of Seller, except as expressly set forth in Section 2.3 above, any prior owner of the Assigned
    Patents, or any Inventor will have any right or interest in and to any of the Assigned Patents.

 

	 	(g)	Any
    Grant currently in effect with respect to the Assigned Patents does not provide sublicensing rights.

 

	 	4.10	Standards
    Bodies.

 

	 	(a)	Seller
    has (i) listed on Exhibit D (“Standards”), attached hereto and incorporated herein, (A) any standards body, patent
    pool, or similar formal or informal organization (“Standards Body”) that Seller or its Affiliates have
    participated with, been affiliated with, or have been a member of; (B) any commitments to, offers made to, or agreements with
    (“Commitments”) such Standards Bodies applicable to any Assigned Patent, and the terms of such Commitments;
    and (C) the Assigned Patents applicable to such Commitments; and (ii) provided Purchaser with complete copies of all documentation
    with respect to Seller’s Commitments, and all such copies and documentation are complete in all material respects, and
    no information has been deleted, omitted or redacted from such copies and documentation.

 

    	 	Page 10 of 21	 

    	 	 	 

    

 

	 	(b)	Seller
    is in compliance with the requirements of all Standards Bodies, and has not made any (i) Commitments to any Standards Bodies,
    to any entities, or to the public, to license or grant any rights with respect to any of the Assigned Patents (including any
    Commitment to license any of the Assigned Patents on a royalty-free basis or at a specified rate, or on any specific terms),
    other than a general commitment to license on reasonable and nondiscriminatory (RAND) or fair, reasonable and non-discriminatory
    (FRAND) terms; or (ii) misrepresentations to any Standards Bodies.

 

	 	4.11	Documents
    and Importation Information. The Patent Documents delivered by Seller to Purchaser hereunder represent all material records
    and files of Seller, its counsel and agents of which Seller is or should be aware of that are related to the Assigned Patents,
    with respect to the acquisition, prosecution, registration, reissuance, enforcement, defense, and maintenance of the Assigned
    Patents. The Importation Information delivered by Seller to Purchaser hereunder is true, accurate and complete.

 

	 	4.12	No
    Impairment. Neither the execution, delivery or performance of this Agreement nor the consummation of the transactions
    contemplated herein will impair the right of Purchaser to use, possess, sell, license or dispose of any of the Assigned Patents.
    There are no royalties, honoraria, fees or other payments payable by Seller to any third party by reason of the ownership,
    use, possession, license, sale, or disposition of any Assigned Patents. There are no actions, suits, investigations, claims
    or proceedings threatened, pending or in progress relating in any way to the Assigned Patents.

 

	 	4.13	No
    Notice. Seller has not put any third party on notice of actual or potential infringement of any Assigned Patent. Seller
    has not invited any third party to enter into a license under any of the Assigned Patents. Seller has not initiated any enforcement
    action with respect to any of the Assigned Patents.

 

	 	4.14	Disclosure.
    Seller has disclosed to Purchaser in writing all facts and circumstances known to, or reasonably ascertainable by, Seller
    on or prior to the Effective Date as possibly having an adverse effect on the validity or enforceability of the Assigned Patents.

 

	 	4.15	Marking.
    Seller and its Affiliates affix on its products or product packaging, manuals, or instructions associated with such products,
    a label indicating the Assigned Patents applicable to the respective products.

 

	 	4.16	Fees
    and other Actions. Seller has paid all maintenance, annuity, renewal and issuance fees and the like with respect to the
    Assigned Patents that are due and payable prior to the end of the ninety (90) day period following the Effective Date. Except
    as set forth in Exhibit E (“Fees and Other Actions List”), attached hereto, there are no actions that must be
    taken or fees that must be paid within ninety (90) days following the Effective Date, including the payment of any filing,
    registration, maintenance, annuity, renewal or issuance fees or the filing of any responses with any Government Entity, including
    office action responses, documents, applications or certificates for the purposes of prosecuting, maintaining, perfecting,
    preserving or renewing any of the Assigned Patents.

 

	 	4.17	Outstanding
    Judgment. No Assigned Patents are subject to any proceeding or outstanding decree, order, judgment, settlement agreement
    or stipulation. None of the Assigned Patents has been or is currently involved in any reexamination, reissue, opposition,
    interference proceeding, or any similar proceeding, and no such proceedings are pending or threatened.

 

	 	4.18	Lawsuits
    and Other Proceedings. No Assigned Patent has been involved in any past or pending action, suit, investigation, claim
    or proceeding (including any reexamination), nor has any Assigned Patent been threatened with any such action, suit, investigation,
    claim or proceeding, other than patent prosecution proceedings in the ordinary course.

 

    	 	Page 11 of 21	 

    	 	 	 

    

 

	 	4.19	Co-Development.
    None of the Assigned Patents were developed by, on behalf of, jointly with, or with the funding of, a third party.

 

	 	4.20	Government
    Funding. None of the Assigned Patents were developed by, on behalf of, jointly with, or using grants or funding of any
    Governmental Entity, college, university, or educational institution.

 

	 	4.21	No
    Patent License. Except for the rights expressly granted under Section 2.3, Seller is not acquiring any licenses or rights,
    whether by implication, estoppel or otherwise under or to any Patents of Purchaser or any of its Affiliates because of the
    Parties entering into this Agreement. The Parties entering into this Agreement will not result in any previous owner of the
    Assigned Patents or any third party obtaining any license, right or Grant whether by implication, estoppel or otherwise, under
    or to any Patent of Purchaser or any of its Affiliates.

 

	 	4.22	The
    term “Knowledge” is defined to mean (x) an individual will be deemed to have “Knowledge” of a particular
    fact or other matter if that individual is actually aware of that fact or matter or a prudent individual could be expected
    to discover or otherwise become aware of that fact or matter in the course of conducting a reasonably comprehensive investigation
    to ascertain and establish the accuracy of each representation, warranty and statement in this Agreement, and (y) “Seller’s
    Knowledge” or “Knowledge of Seller” means the Knowledge of Seller’s and Seller’s Affiliates’
    officers, directors, shareholders, partners, members, or employees, in-house or outside counsel, and/or any current employee
    that is or was directly involved in (i) any prosecution activities associated with one or more of the Assigned Patents, or
    (ii) the acquisition and divestiture of the Assigned Patents, or (iii) the maintenance, analysis, administration, evaluation
    of commercial value and strategic assessment of the Assigned Patents during Seller’s ownership of or control over the
    Assigned Patents.

 

ARTICLE
V

REPRESENTATIONS
AND WARRANTIES OF PURCHASER

 

Purchaser
hereby represents and warrants to Seller as of the Effective Date as follows:

 

	 	5.1	Corporate
    Organization. Purchaser is a corporation duly organized, validly existing and, to the extent applicable, in good standing
    under the respective laws of the jurisdiction of its incorporation, is duly qualified and, to the extent applicable, is in
    good standing under the laws of each jurisdiction in which the character of the properties and assets now owned or held by
    it or the nature of the business now conducted by it requires it to be so licensed or qualified. Purchaser has full corporate
    power and authority to carry on its business as now being conducted.

 

	 	5.2	Authority.
    Purchaser has full corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder.
    The execution and delivery of this Agreement by Purchaser and the performance by Purchaser of its obligations hereunder have
    been duly authorized by all necessary corporate action. This Agreement has been duly executed and delivered by Purchaser and
    constitutes the legal, valid and binding obligation of Purchaser, enforceable against it in accordance with its terms, subject
    to applicable laws affecting creditors’ rights generally and, as to enforcement, to general principles of equity, regardless
    of whether applied in a proceeding at law or in equity.

 

    	 	Page 12 of 21	 

    	 	 	 

    

 

	 	5.3	No
    Conflict; No Consents. The execution and delivery of this Agreement and the performance of the obligations of Purchaser
    hereunder will not violate or be in conflict with any provision of law, any order, rule or regulation of any Governmental
    Entity, or any provision of Purchaser’s certificate of incorporation or bylaws. No consent, approval or authorization
    of or declaration or filing with any Governmental Entity or other person or entity on the part of Purchaser is required in
    connection with the execution or delivery of this Agreement or the consummation of the transactions contemplated hereby.

 

ARTICLE
VI

SURVIVAL
OF REPRESENTATIONS AND WARRANTIES; INDEMNIFICATION

 

	 	6.1	Survival
    of Representations and Warranties. Except with respect to Seller’s representations and warranties under Sections
    4.9 (Ownership and Encumbrances), Section 4.10 (Standards Bodies) and 4.23 (No Patent License) which shall survive indefinitely,
    all of Seller’s representations and warranties contained in this Agreement shall terminate as of the last day of the
    twelfth (12th) month following the month in which the Effective Date occurs.

 

	 	6.2	Indemnification.

 

	 	(a)	Seller
    shall defend, indemnify and hold harmless Purchaser, its Affiliates, and each of their Subsidiaries, shareholders, directors,
    officers, employees, agents, successors, and assigns from and against all damages, claims, liabilities, expenses and costs
    (including reasonable attorneys’ fees) arising, directly or indirectly, from any material breach of this Agreement,
    including, without limitation, any material breach of any representation or warranty made by Seller.

 

	 	(b)	Purchaser
    shall defend, indemnify and hold harmless Seller, its Subsidiaries, and each of their shareholders, directors, officers, employees,
    agents, successors, and assigns from and against all damages, claims, liabilities, expenses and costs (including reasonable
    attorneys’ fees) arising, directly or indirectly, from any material breach of this Agreement, including, without limitation,
    any material breach of any representation or warranty made by Purchaser.

 

	 	(c)	A
    person or entity that intends to claim indemnification under this Article VI (the “Indemnitee”) shall promptly
    notify the other Party (the “Indemnitor”) of any claim, damage, liability, cause of action or cost with
    respect to which the Indemnitee intends to claim such indemnification. Indemnitor, after it determines that indemnification
    is required of it, shall assume the defense thereof with counsel of its own choosing; provided, however, that an Indemnitee
    shall have the right to retain its own counsel, with the expenses to be paid by the Indemnitor if Indemnitor does not assume
    the defense. The Indemnitee shall, and shall cause its Subsidiaries and its own and its Subsidiaries’ employees and
    agents to, cooperate fully with the Indemnitor and its legal representatives in the investigation and defense of any claim,
    damage, liability, cause of action or cost covered by this indemnification. The maximum liability of each Indemnitor under
    this Agreement for a breach of warranty under Article IV or Article V, as applicable, and/or for a claim of indemnification
    as set forth in this Article VI, in the aggregate shall in the be equal to the Purchase Price.

 

    	 	Page 13 of 21	 

    	 	 	 

    

 

ARTICLE
VIII

MISCELLANEOUS

 

	 	7.1	Confidentiality.
    The Parties shall maintain as strictly confidential this Agreement and any proprietary information disclosed under, or as
    a result of or during the negotiation of, this Agreement, and shall only use such information for the purpose of performing
    under and/or enforcing this Agreement or the Assigned Patents, except that each Party, or its Affiliates, may disclose or
    use this Agreement or any such proprietary information as follows:

 

	 	(a)	As
    reasonably necessary to prosecute or enforce the Assigned Patents;

 

	 	(b)	as
    reasonably necessary for Purchaser to record or otherwise perfect Purchaser’s interest in the Assigned Patents;

 

	 	(c)	to
    the extent required by law;

 

	 	(d)	to
    the extent such information is public information, except as a result of the breach of this Section 7.1;

 

	 	(e)	as
    is required by a court or an arbitral order which has been precipitated by a third party request; provided, that the entity
    making such disclosure or use shall seek appropriate confidentiality protections (e.g., having such disclosures covered by
    a protective order or other comparable protections) prior to making such disclosure or use;

 

	 	(f)	to
    satisfy SEC, NASDAQ or other statutory, regulatory, taxation, or administrative requirements;

 

	 	(g)	in
    a legal proceeding between the Parties or their Affiliates;

 

	 	(h)	to
    a potential acquirer, in connection with a potential acquisition of all or any material part of any business of such Party;
    or

 

	 	(i)	in
    confidence, to its accountants, bankers, attorneys, or their Affiliates.

 

Notwithstanding
the foregoing, the Parties acknowledge that Purchaser or its Affiliates shall have the right, at its sole discretion, to publish
and distribute a press release or a Current or Periodic Report filed pursuant to the Securities Exchange Act of 1934 announcing
the execution of this Agreement. Such press release may contain the name of the Seller hereunder and a broad characterization
of the nature of the transactions undertaken herein. The Purchase Price, identification of the Assigned Patents, or terms other
than those previously identified shall not be disclosed with specificity, unless required by applicable stock exchange or regulatory
body requirements, or otherwise deemed material.

 

	 	7.2	Expenses.
    Except as otherwise provided in this Agreement, each Party will pay all fees and expenses incurred by it in connection with
    this Agreement and the transactions contemplated hereby.

 

	 	7.3	Governing
    Law/Venue. This Agreement is governed by the laws of the State of California, excluding its conflict-of-laws principles.
    The state and federal courts in the State of California shall have exclusive jurisdiction over any claim, suit or proceeding
    (each, a “Proceeding”) related to this Agreement (including without limitation the breach or threatened breach
    thereof), and each Party irrevocably (a) consents to the jurisdiction of such courts for any Proceeding, (b) consents to service
    of process in any Proceeding in such courts by globally recognized overnight courier service at the address set forth above,
    as well as other means of service permitted by law; and (c) waives any objections on the grounds of venue, residence, domicile
    or inconvenient forum to any Proceeding brought in such courts.

 

    	 	Page 14 of 21	 

    	 	 	 

    

 

	 	7.4	Waivers.
    The failure of any Party to insist upon the performance of any of the terms or conditions of this Agreement or to exercise
    any right hereunder, shall not be construed as a waiver or relinquishment of any such right, term or condition. No waiver
    by any Party of any provision of this Agreement or any default, misrepresentation, or breach of warranty or covenant hereunder
    shall be valid unless the same shall be in writing and signed by the Party making such waiver.

 

	 	7.5	Severability.
    The provisions of this Agreement shall be severable, and if any of them are held invalid or unenforceable, then that provision
    shall be construed to the maximum extent permitted by law. The invalidity or unenforceability of one provision shall not necessarily
    affect any other.

 

	 	7.6	Notices.
    All notices or other communications required or permitted under this Agreement shall be in writing and shall be delivered
    by personal delivery, registered mail, return receipt requested, or a qualified overnight delivery service addressed as indicated
    on page 1 of this Agreement. Facsimiles shall be sent to Seller at ________ and to Purchaser at ________________. All such
    notices shall be deemed delivered at the time of delivery, except a facsimile shall be deemed delivered at the time of electronic
    confirmation of delivery.

 

	 	7.7	Asset
    Purchase. The transaction contemplated under this Agreement is strictly an asset purchase, and Purchaser is not taking
    any assignment of any debt, obligation, or other Encumbrance on any of the Assigned Patents.

 

	 	7.8	Entire
    Agreement/Amendment. This Agreement contains the complete and final agreement between the Parties, and supersedes all
    previous understandings, relating to the subject matter hereof whether oral or written. This Agreement may only be modified
    by a written agreement signed by duly authorized representatives of the Parties.

 

	 	7.9	No
    Assignment. Except for Purchaser’s right to assign or delegate this Agreement and its rights and duties as set forth
    herein to a present or future Affiliate, neither this Agreement nor any rights or duties under this Agreement may be assigned
    or delegated, in whole or in part, by either Party without the prior written consent of the non-assigning Party, which consent
    may be withheld by the non-assigning Party for any or no reason. Any attempted assignment and/or delegation in breach of this
    Section 8.9 will be null and void. The Parties understand and agree that a Change of Control event is considered an assignment
    for the purposes of this Section 8.9.

 

	 	7.10	Survival.
    Notwithstanding anything in this Agreement to the contrary except as set forth in Section 6.1, all representations, warranties,
    obligations, responsibilities, terms or conditions which by a fair reading of their nature are intended to survive shall be
    deemed to survive.

 

    	 	Page 15 of 21	 

    	 	 	 

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement by their duly authorized representatives.

 

	salesforce.com,
    inc.	 	[Seller]
    
	 	 	 	 	 
	By:	 	 	By:	 
	 	                   	 	 	     
	Name:	 	 	Name:	 
	 	 	 	 	 
	Title:	 	 	Title:	 
	 	 	 	 	 
	Date:
    	 	 	Date:
    	 

 

    	 	Page 16 of 21	 

    	 	 	 

    

 

EXHIBIT
A

 

Listed
Patents

 

	Patent
    Number	 	Filing
    Date	 	Lead
    Inventor
	9395826	 	 	 	 
	9398111	 	 	 	 
	9419848	 	 	 	 
	8745280	 	 	 	 
	8892782	 	 	 	 
	8738814	 	 	 	 
	8856907	 	 	 	 

 

    	 	Page 17 of 21	 

    	 	 	 

    

 

EXHIBIT
B

 

Patent
Assignment

 

This
PATENT ASSIGNMENT (“Assignment”), effective as of _________, 20__, is made by and between hopTo Inc., a Delaware corporation
with its principal place of business located at 6 Loudon Rd. Suite 200, Concord, NH 03301 (hereinafter “Assignor”),
and salesforce.com, inc., a Delaware corporation having a place of business at The Landmark @ One Market Street, Suite
300, San Francisco, CA 94105 (hereinafter “Salesforce”).

 

WHEREAS:

 

	 	A.	Assignor
    is the sole owner of the patents and patent applications listed in the attached Exhibit A (hereinafter “Patents”);
    and

 

	 	B.	Salesforce
    is desirous of acquiring all of Assignor’s right, title and interest in and to the Patents.

 

NOW,
THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged, Assignor has sold, assigned and transferred,
and does hereby sell, assign and transfer to Saleforce all right, title and interest in and to

 

(i)
the Patents, including any and all inventions, invention disclosures and discoveries disclosed or claimed therein;

 

(ii)
all United States, foreign and international patents and patent applications, certificates of invention, utility models and any
other grants by any governmental entity for the protection of inventions resulting from the Patents, including any and all patents
and patent applications disclosing said invention(s) and any patents issuing from such applications, including provisionals, non-provisionals,
divisionals, continuations, continuations-in-part, reissues, extensions, and re-examinations of the Patents, along with the rights
of priority created by such patents and patent applications under any treaty relating thereto; and

 

(iii)
all past, present and future causes of action and enforcement rights, whether currently pending, filed or otherwise, in connection
with the Patents, the patents and patent applications resulting from the Patents and any of the inventions or discoveries described
or claimed therein, including without limitation, all rights to sue for any past, present or future infringement of the Patents,
including the rights to license and to collect and receive any damages, royalties, injunctive relief, and/or any other settlements
or remedies for such infringements, the same to be held and enjoyed by Salesforce for its own use and enjoyment, and for
the use and enjoyment of its successors, assigns and other legal representatives, to the end of the term or terms thereof as fully
and entirely as the same would have been held and enjoyed by Assignor, if this assignment and sale had not been made.

 

IN
WITNESS WHEREOF, Assignor has caused these presents to be signed by its duly appointed officer having full authority in the circumstances.

 

SIGNED
for and on behalf of hopTo Inc.

 

	By	 	 	on	 	 
	 	(Signature)
    	 	 	 	(Date)
	 	 	 	 	 	 
	 	(Print
    Name)	 	 	 	(Print
    Title)

 

    	 	Page 18 of 21	 

    	 	 	 

    

 

EXHIBIT
C

 

Encumbrances

 

Not
Applicable.

 

    	 	Page 19 of 21	 

    	 	 	 

    

 

EXHIBIT
D

 

Standards

 

Not
Applicable.

 

    	 	Page 20 of 21	 

    	 	 	 

    

 

EXHIBIT
E

 

Fees
and Other Actions

 

Not
Applicable.

 

    	 	Page 21 of 21

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}]]