Document:

Exhibit 10.8

 

INDEMNITY AGREEMENT

 

THIS INDEMNITY
AGREEMENT (this “Agreement”) is made on August 5, 2020, by and between Kismet Acquisition One
Corp, a company incorporated in the British Virgin Islands with limited liability (the “Company”), and
                    
(“Indemnitee”).

RECITALS

 

WHEREAS,
highly competent persons have become more reluctant to serve publicly-held corporations as officers and/or directors or in other
capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks
of claims and actions against them arising out of their service to and activities on behalf of such corporations;

 

WHEREAS,
the Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain
qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect
persons serving the Company and any of its subsidiaries from certain liabilities. Although the furnishing of such insurance has
been a customary and widespread practice among publicly traded corporations and other business enterprises, the Company believes
that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and
with more exclusions. At the same time, directors, officers and other persons in service to corporations or business enterprises
are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally
would have been brought only against the Company or business enterprise itself. The Memorandum and Articles of Association (as
amended, the “Memorandum and Articles”) of the Company provide that the Company may and shall indemnify
the directors, officers, key employees and advisers of the Company, in accordance with the British Virgin Islands Business Companies
Act, 2004 (as amended) (“Companies Act”). Accordingly, the Memorandum and Articles and the Companies
Act permit contracts to be entered into between the Company and members of the Board, officers and other persons with respect to
indemnification, hold harmless, exoneration, advancement and reimbursement rights subject in all cases to the provisions and limitations
in respect thereof set forth in the Companies Act;

 

WHEREAS,
the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such
persons;

 

WHEREAS,
the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company’s shareholders and that the Company should act to assure such persons that there will be increased certainty
of such protection in the future;

 

WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate
and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or
continue to serve the Company free from undue concern that they will not be so protected against liabilities;

 

WHEREAS,
this Agreement is a supplement to and in furtherance of the Memorandum and Articles and any resolutions adopted pursuant thereto,
and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

 

WHEREAS,
Indemnitee may not be willing to serve as an officer and/or director, advisor or in another capacity without adequate protection,
and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on
additional service for or on behalf of the Company on the condition that he, she or they be so indemnified.

 

     

     

    

 

NOW, THEREFORE,
in consideration of the premises and the covenants contained herein and subject to the provisions of the letter agreement dated
as of August 5, 2020 between the Company and Indemnitee pursuant to the Underwriting Agreement among the Company and the underwriters
in connection with the Company’s initial public offering, the Company and Indemnitee do hereby covenant and agree as follows:

 

TERMS AND CONDITIONS

 

1. SERVICES
TO THE COMPANY. In consideration of the Company's covenants and obligations hereunder, Indemnitee will serve or continue to
serve as an officer, director, advisor, key employee or in any other capacity of the Company, as applicable, for so long as Indemnitee
is duly elected, appointed or retained or until Indemnitee tenders his, her or their resignation or until Indemnitee is removed.
The foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee has ceased to serve as a
director, officer, advisor, key employee or in any other capacity of the Company, as provided in Section 17. This Agreement, however,
shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company beyond any period
otherwise required by law or by other agreements or commitments of the parties, if any.

 

2. DEFINITIONS.
As used in this Agreement:

 

2.1. References
to “agent” shall mean any person who is or was a director, officer or employee of the Company or a subsidiary
of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity
as a director, officer, advisor, employee, fiduciary or other official of another corporation, partnership, limited liability company,
joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company
or a subsidiary of the Company.

 

2.2. The
terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings
set forth in Rule 13d-3 promulgated under the Exchange Act as in effect on the date hereof.

 

2.3. “BVI
Court” means the High Court of the British Virgin Islands.

 

2.4. A
“Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement
of any of the following events:

 

2.4.1. Acquisition
of Shares by Third Party. Other than an affiliate of Kismet Sponsor Limited (the “Sponsor”), any
Person (as defined below) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing
fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding securities entitled to vote
generally in the election of directors, unless (1) the change in the relative Beneficial Ownership of the Company’s
securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled to
vote generally in the election of directors, or (2) such acquisition was approved in advance by the Continuing Directors (as
defined below) and such acquisition would not constitute a Change in Control under any other part of this definition;

 

2.4.2. Change
in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose election by
the Board or nomination for election by the Company’s shareholders was approved by a vote of at least two thirds of the directors
then still in office who were directors on the date hereof or whose election or nomination for election was previously so approved
(collectively, the “Continuing Directors”), cease for any reason to constitute at least a majority of
the members of the Board;

 

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2.4.3. Corporate
Transactions. The effective date on which the Company acquires, or engages in a share exchange, share reconstruction and amalgamation,
contractual control arrangement with or purchase of all or substantially all of the assets of, or engages in any other similar
initial business combination with one or more businesses or entities (a “Business Combination”), in each
case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were the
Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business Combination
beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding securities of the
Company entitled to vote generally in the election of directors resulting from such Business Combination (including, without limitation,
a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets
either directly or through one or more Subsidiaries (as defined below)) in substantially the same proportions as their ownership
immediately prior to such Business Combination, of the securities entitled to vote generally in the election of directors; (2) other
than an affiliate of the Sponsor, no Person (excluding any corporation resulting from such Business Combination) is the Beneficial
Owner, directly or indirectly, of 15% or more of the combined voting power of the then outstanding securities entitled to vote
generally in the election of directors of the surviving corporation except to the extent that such ownership existed prior to the
Business Combination; and (3) at least a majority of the board of directors of the corporation resulting from such Business
Combination were Continuing Directors at the time of the execution of the initial agreement, or of the action of the Board, providing
for such Business Combination;

 

2.4.4. Liquidation.
The approval by the shareholders of the Company of a complete liquidation of the Company or an agreement or series of agreements
for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring the
Company’s current receivables or escrows due (or, if such approval is not required, the decision by the Board to proceed
with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

2.4.5. Other
Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A (or any successor rule) (or a response to any similar item on any similar schedule or form) promulgated under
the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

 

2.5 “Corporate
Status” describes the status of a person who is or was a director, officer, trustee, general partner, manager, managing
member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person is or was serving
at the request of the Company.

 

2.6. “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding (as defined below) in
respect of which indemnification is sought by Indemnitee.

 

2.7. “Enterprise”
means the Company and any other corporation, constituent corporation (including any constituent of a constituent) absorbed in a
consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited liability company, partnership,
joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company
as a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent.

 

2.8. “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

2.9. “Expenses”
shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever, including, without limitation,
all attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses,
fees of private investigators and professional advisors, duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations or expenses, in
each case reasonably incurred in connection with, or as a result of, prosecuting, defending, preparing to prosecute or defend,
investigating, being or preparing to be a deponent or a witness in, settlement or appeal of, or otherwise participating in, a Proceeding,
including reasonable compensation for time spent by the Indemnitee for which he, she or they is or are not otherwise compensated
by the Company or any third party. Expenses also shall include Expenses incurred in connection with any appeal resulting from any
Proceeding, including without limitation the principal, premium, security for, and other costs relating to any cost bond, supersedeas
bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or
the amount of judgments or fines against Indemnitee.

 

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2.10. “Independent
Counsel” shall mean a reputable law firm or a member of a law firm with significant experience in matters of corporation
law and that neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee
in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or
of other indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding giving rise to a
claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include
any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

2.11. References
to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit plan;
references to “serving at the request of the Company” shall include any service as a director, officer,
employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee,
agent or fiduciary with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee
benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company”
as referred to in this Agreement.

 

2.12. “New
York Court” shall mean the courts of the State of New York or the United States District Court for the Southern District
of the State of New York.

 

2.13. The
term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as
in effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any Subsidiaries
of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary of the Company or of any corporation owned,
directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of shares of
the Company; and (iv) any trustee or other fiduciary holding securities under an employee benefit plan of the Company or of
a Subsidiary of the Company or of a corporation owned directly or indirectly by the shareholders of the Company in substantially
the same proportions as their ownership of shares of the Company.

 

2.14. The
term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed
proceeding, whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional
tort claims), criminal, administrative, legislative or investigative or related nature (whether formal or informal), including
any appeal therefrom, in which Indemnitee was, is, will or might be involved as a party, potential party, non-party witness or
otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action (or failure
to act) taken by him, her or them or of any action (or failure to act) on his, her or their part while acting as a director or
officer of the Company, or by reason of the fact that he, she or they is/are or was/were serving at the request of the Company
as a director, officer, trustee, general partner, manager, managing member, fiduciary, employee, advisor, or agent of any other
Enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification,
reimbursement, or advancement of Expenses can be provided under this Agreement.

 

2.15 The
term “Registration Statement” shall mean the Company’s initial registration statement, as amended,
on Form S-1, No. 333-239972 for its initial public offering of securities.

 

2.16  The
term “Subsidiary,” with respect to any Person, shall mean any corporation, limited liability company,
partnership, joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity
interest is owned, directly or indirectly, by that Person.

 

2.17. The
term “Trust Account” shall mean the gross proceeds of the initial public offering of securities pursuant
to the Registration Statement and sale of units by the Company deposited into a trust account for the benefit of the Company and
the holders of the Company’s ordinary shares, no par value.

 

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3. INDEMNITY
IN THIRD-PARTY PROCEEDINGS. To the fullest extent permitted by the Companies Act and other applicable law, the Company shall
indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 3 if Indemnitee was, is,
or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding, other than a
Proceeding by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status.
Pursuant to this Section 3, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses, judgments,
liabilities, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable
in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably
incurred by Indemnitee or on his, her or their behalf in connection with such Proceeding or any claim, issue or matter therein,
if Indemnitee acted honestly and in good faith and in a manner he, she or they reasonably believed to be in the best interests
of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that his, her or their conduct was
unlawful; provided, in no event shall Indemnitee be entitled to be indemnified, held harmless or advanced any amounts hereunder
in respect of any Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (if any) that Indemnitee may
incur by reason of his, her or their own actual fraud or intentional misconduct. Indemnitee shall not be found to have committed
actual fraud or intentional misconduct for any purpose of this Agreement unless or until a court of competent jurisdiction shall
have made a finding to that effect.

 

4. INDEMNITY
IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY. To the fullest extent permitted by the Companies Act and other applicable
law, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 4
if Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding
by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant
to this Section 4, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses actually and reasonably
incurred by him, her or them or on his, her or their behalf in connection with such Proceeding or any claim, issue or matter therein,
provided that Indemnitee acted honestly and in good faith and in a manner he, she or they reasonably believed to be in the best
interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that his, her or their conduct
was unlawful. No indemnification, hold harmless or exoneration for Expenses shall be made under this Section 4 in respect
of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court of competent jurisdiction to be
liable to the Company, unless and only to the extent that any court in which the Proceeding was brought or the BVI Court shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee
is fairly and reasonably entitled to indemnification, to be held harmless or to exoneration.

 

5. INDEMNIFICATION
FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL. Notwithstanding any other provisions of this Agreement but subject
always to the applicable provisions and limitations imposed by the Companies Act and except for Section 27, to the extent that
Indemnitee was or is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense
of any claim, issue or matter therein, in whole or in part, the Company shall, to the fullest extent permitted by applicable law,
indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by him, her or them or
on his, her or their behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful,
on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall,
to the fullest extent permitted by the Companies Act and other applicable law and provided in all cases that Indemnitee acted honestly
and in good faith and in a manner he, she or they reasonably believed to be in the best interests of the Company and, in the case
of a criminal Proceeding, had no reasonable cause to believe that his, her or their conduct was unlawful, indemnify, hold harmless
and exonerate Indemnitee against all Expenses actually and reasonably incurred by him, her or them or on his, her or their behalf
in connection with each successfully resolved claim, issue or matter. If Indemnitee is not wholly successful in such Proceeding,
the Company also shall, to the fullest extent permitted by the Companies Act and other applicable law and provided in all cases
that Indemnitee acted honestly and in good faith and in a manner he, she or they reasonably believed to be in the best interests
of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that his, her or their conduct was
unlawful, indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably incurred in connection with a claim,
issue or matter related to any claim, issue, or matter on which Indemnitee was successful. For purposes of this Section 5 and without
limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be
deemed to be a successful result as to such claim, issue or matter.

 

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6. INDEMNIFICATION
FOR EXPENSES OF A WITNESS. Notwithstanding any other provision of this Agreement except for Section 27, but subject always
to the applicable provisions and limitations imposed by the Companies Act, to the extent that Indemnitee is, by reason of Indemnitee’s
Corporate Status, a witness or deponent in any Proceeding to which Indemnitee is not a party or threatened to be made a party,
Indemnitee shall, to the fullest extent permitted by applicable law, be indemnified, held harmless and exonerated against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

 

7. ADDITIONAL
INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS. Notwithstanding any limitation in Sections 3, 4 or 5, but subject
to Section 27, the Company shall, to the fullest extent permitted by the Companies Act and other applicable law, indemnify, hold
harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding
by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines, penalties and amounts
paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such
Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection
with the Proceeding, provided always that Indemnitee acted honestly and in good faith and in a manner he, she or they reasonably
believed to be in the best interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe
that his, her or their conduct was unlawful. No indemnification, hold harmless or exoneration rights shall be available under this
Section 7 on account of Indemnitee’s conduct which constitutes a breach of Indemnitee’s duty.

 

8. CONTRIBUTION
IN THE EVENT OF JOINT LIABILITY.

 

8.1. To the fullest
extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for in this Agreement
are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying, holding harmless
or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments, liabilities,
fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring
Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have
at any time against Indemnitee.

 

8.2. The Company
shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if
joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against
Indemnitee.

 

8.3. The Company hereby
agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be brought by officers,
directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

9. EXCLUSIONS.
Notwithstanding any provision in this Agreement, but subject to Section 27, the Company shall not be obligated under this Agreement
to make any indemnification, advance Expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

(a) for which payment
has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement provision,
except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement, other indemnity
or advancement provision or otherwise;

 

(b) for an accounting
of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning
of Section 16(b) of the Exchange Act or similar provisions of state statutory law or common law; or

 

(c) except as otherwise
provided in Sections 14.5 and 14.6 hereof, prior to a Change in Control, in connection with any Proceeding (or any part of
any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against
the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or
any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, hold harmless or exoneration
payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

 

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10. ADVANCES
OF EXPENSES; DEFENSE OF CLAIM.

 

10.1. Notwithstanding
any provision of this Agreement to the contrary, but subject to Section 27, and to the fullest extent not prohibited by the Companies
Act and other applicable law, the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to
be incurred by Indemnitee within three months) in connection with any Proceeding within ten (10) days after the receipt by the
Company of a statement or statements requesting such advances from time to time, prior to the final disposition of any Proceeding.
Advances shall, to the fullest extent permitted by law, be unsecured and interest free. Advances shall, to the fullest extent permitted
by law, be made without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate
entitlement to be indemnified, held harmless or exonerated under the other provisions of this Agreement. Advances shall include
any and all reasonable Expenses incurred pursuing a Proceeding to enforce this right of advancement, including Expenses incurred
preparing and forwarding statements to the Company to support the advances claimed. To the fullest extent required by applicable
law, such payments of Expenses in advance of the final disposition of the Proceeding shall be made only upon the Company’s
receipt of an undertaking, by or on behalf of Indemnitee, to repay the advance to the extent that it is ultimately determined that
Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement, the Memorandum and Articles,
the Companies Act or other applicable law or otherwise. If it shall be determined by a final judgment or other final adjudication
that Indemnitee was not so entitled to indemnification, any advancement shall be returned to the Company (without interest) by
the Indemnitee. This Section 10.1 shall not apply to any claim made by Indemnitee for which an indemnification, hold harmless or
exoneration payment is excluded pursuant to Section 9, but shall apply to any Proceeding referenced in Section 9(b) prior to a
final determination that Indemnitee is liable therefor.

 

10.2. The Company will
be entitled to participate in the Proceeding at its own expense.

 

10.3. The Company shall
not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine, penalty or limitation
on Indemnitee without Indemnitee’s prior written consent.

 

11. PROCEDURE
FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

 

11.1. Indemnitee agrees
to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information
or other document relating to any Proceeding, claim, issue or matter which may be subject to indemnification, hold harmless or
exoneration rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not
relieve the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

11.2. Indemnitee may
deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with this Agreement.
Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his, her or their
sole discretion. Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement to indemnification
shall be determined according to Section 12.1 of this Agreement.

 

12. PROCEDURE
UPON APPLICATION FOR INDEMNIFICATION.

 

12.1. A determination,
if required by the Companies Act or other applicable law and/or the Memorandum and Articles, with respect to Indemnitee’s
entitlement to indemnification shall be made in the specific case by one of the following methods, which shall be at the election
of Indemnitee: (i) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, or (ii) by a
committee of such directors designated by majority vote of such directors, (iii) if there are no Disinterested Directors or if
such directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee,
or (iv) by vote of the shareholders by ordinary resolution.. The Company promptly will advise Indemnitee in writing with respect
to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for
which indemnification has been denied. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee
shall be made within ten (10) days after such determination. Indemnitee shall reasonably cooperate with the person, persons
or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such
person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise
protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any Expenses
incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company
(irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby agrees to indemnify
and hold Indemnitee harmless therefrom.

 

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12.2. In the event
the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12.1 hereof, the Independent
Counsel shall be selected as provided in this Section 12.2. The Independent Counsel shall be selected by Indemnitee (unless
Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written notice to the Company advising
it of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement. If the Independent Counsel is selected by
the Board, the Company shall give written notice to Indemnitee advising him, her or them of the identity of the Independent Counsel
so selected and certifying that the Independent Counsel so selected meets the requirements of “Independent Counsel”
as defined in Section 2 of this Agreement. In either event, Indemnitee or the Company, as the case may be, may, within ten
(10) days after such written notice of selection shall have been received, deliver to the Company or to Indemnitee, as the
case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that
the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2
of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and
timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated,
the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court
of competent jurisdiction has determined that such objection is without merit. If, within twenty (20) days after submission
by Indemnitee of a written request for indemnification pursuant to Section 11.2 hereof, no Independent Counsel shall have been
selected and not objected to, either the Company or Indemnitee may petition the BVI Court for resolution of any objection which
shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment
as Independent Counsel of a person selected by the BVI Court, and the person with respect to whom all objections are so resolved
or the person so appointed shall act as Independent Counsel under Section 12.1 hereof. Upon the due commencement of any judicial
proceeding or arbitration pursuant to Section 14.1 of this Agreement, Independent Counsel shall be discharged and relieved of any
further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

 

12.3. The Company agrees
to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such Independent Counsel
against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant
hereto.

 

13. PRESUMPTIONS
AND EFFECT OF CERTAIN PROCEEDINGS.

 

13.1. In making a determination
with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination shall presume
that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in
accordance with Section 11.2 of this Agreement, and the Company shall have the burden of proof to overcome that presumption in
connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither the failure
of the Company (including by the Disinterested Directors or Independent Counsel) to have made a determination prior to the commencement
of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable
standard of conduct, nor an actual determination by the Company (including by the Disinterested Directors or Independent Counsel)
that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that
Indemnitee has not met the applicable standard of conduct.

 

13.2. If the person,
persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee is entitled to
indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request therefor,
the requisite determination of entitlement to indemnification shall, to the fullest extent permitted by law, be deemed to have
been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material
fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection
with the request for indemnification, or (ii) a final judicial determination that any or all such indemnification is expressly
prohibited under applicable law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed
an additional fifteen (15) days, if the person, persons or entity making the determination with respect to entitlement to
indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information
relating thereto.

 

    - 8 -

     

    

 

13.3. The termination
of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo
contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the
right of Indemnitee to indemnification or create a presumption that Indemnitee did not act honestly and in good faith and in a
manner which he, she or they reasonably believed to be in or not opposed to the best interests of the Company or, with respect
to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

13.4. For purposes
of any determination of honesty and/or good faith, Indemnitee shall be deemed to have acted in honestly and good faith if Indemnitee’s
action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied
to Indemnitee by the directors, manager, or officers of the Enterprise in the course of their duties, or on the advice of legal
counsel for the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing
member, or on information or records given or reports made to the Enterprise, its Board, any committee of the Board or any director,
trustee, general partner, manager or managing member, by an independent certified public accountant or by an appraiser or other
expert selected by the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or
managing member. The provisions of this Section 13.4 shall not be deemed to be exclusive or to limit in any way the other circumstances
in which Indemnitee may be deemed or found to have met the applicable standard of conduct set forth in this Agreement.

 

13.5. The knowledge
and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary, agent
or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under
this Agreement.

 

14. REMEDIES
OF INDEMNITEE.

 

14.1. In the event
that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advances of Expenses, to the fullest extent permitted by applicable law, is not timely made pursuant
to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to
Section 12.1 of this Agreement within thirty (30) days after receipt by the Company of the request for indemnification, (iv) payment
of indemnification is not made pursuant to Section 5, 6, 7 or the last sentence of Section 12.1 of this Agreement within ten
(10) days after receipt by the Company of a written request therefor, (v) a contribution payment is not made in a timely
manner pursuant to Section 8 of this Agreement, (vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement
is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or (vii) payment
to Indemnitee pursuant to any hold harmless or exoneration rights under this Agreement or otherwise is not made in accordance with
this Agreement within ten (10) days after receipt by the Company of a written request therefor, Indemnitee shall be entitled
to an adjudication by the New York Court to such indemnification, hold harmless, exoneration, contribution or advancement rights.
Alternatively, Indemnitee, at his, her or their option, may seek an award in arbitration to be conducted by a single arbitrator
pursuant to the Commercial Arbitration Rules and Mediation Procedures of the American Arbitration Association. Except as set forth
herein, the provisions of the Companies Act (without regard to its conflict of laws rules) shall apply to any such arbitration.
The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

 

14.2. In the event
that a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is not entitled to indemnification,
any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects as a de novo
trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial
proceeding or arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be entitled to be indemnified,
held harmless, exonerated to receive advances of Expenses under this Agreement and the Company shall have the burden of proving
Indemnitee is not entitled to be indemnified, held harmless, exonerated and to receive advances of Expenses, as the case may be,
and the Company may not refer to or introduce into evidence any determination pursuant to Section 12.1 of this Agreement adverse
to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 14, Indemnitee
shall not be required to reimburse the Company for any advances pursuant to Section 10 until a final determination is made
with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed).

 

    - 9 -

     

    

 

14.3. If a determination
shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is entitled to indemnification, the Company shall
be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) a
misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement
not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

14.4. The Company shall
be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such
arbitrator that the Company is bound by all the provisions of this Agreement.

 

14.5. The Company shall
indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if requested by Indemnitee,
shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee, to the fullest extent
permitted by applicable law, such Expenses which are incurred by Indemnitee in connection with any judicial proceeding or arbitration
brought by Indemnitee (i) to enforce his, her or their rights under, or to recover damages for breach of, this Agreement or
any other indemnification, hold harmless, exoneration, advancement or contribution agreement or provision of the Memorandum and
Articles now or hereafter in effect; or (ii) for recovery or advances under any insurance policy maintained by any person
for the benefit of Indemnitee, regardless of the outcome and whether Indemnitee ultimately is determined to be entitled to such
indemnification, hold harmless or exoneration right, advancement, contribution or insurance recovery, as the case may be (unless
such judicial proceeding or arbitration was not brought by Indemnitee in good faith).

 

15. SECURITY.
Notwithstanding anything herein to the contrary, but subject to Section 27, to the extent requested by Indemnitee and approved
by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations
hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee,
may not be revoked or released without the prior written consent of Indemnitee.

 

16. NON-EXCLUSIVITY;
SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION

 

16.1. The rights of
Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time
be entitled under applicable law, the Memorandum and Articles, any agreement, a vote of shareholders or a resolution of directors,
or otherwise. No amendment, alteration or repeal of this Agreement or the Memorandum and Articles or of any provision hereof or
thereof shall limit or restrict any right of Indemnitee under this Agreement or the Memorandum and Articles in respect of any Proceeding
(regardless of when such Proceeding is first threatened, commenced or completed) or claim, issue or matter therein arising out
of, or related to, any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or
repeal. To the extent that a change in applicable law, whether by statute or judicial decision, permits greater indemnification,
hold harmless or exoneration rights or advancement of Expenses than would be afforded currently under the Memorandum and Articles
or this Agreement, then this Agreement (without any further action by the parties hereto) shall automatically be deemed to be amended
to require that the Company indemnifies the Indemnitee to the fullest extent permitted by law. No right or remedy herein conferred
is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition
to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
right or remedy.

 

    - 10 -

     

    

 

16.2. The Companies
Act and the Memorandum and Articles permit the Company to purchase and maintain insurance or furnish similar protection or make
other arrangements including, but not limited to, providing a trust fund, letter of credit, or surety bond (each, an “Indemnification
Arrangement”) on behalf of Indemnitee against any liability asserted against him, her or them or incurred by or on
behalf of him, her or them or in such capacity as a director, officer, employee or agent of the Company, or arising out of his,
her or their status as such, whether or not the Company would have the power to indemnify him, her or them against such liability
under the provisions of this Agreement or under the Companies Act, as it may then be in effect. The purchase, establishment, and
maintenance of any such Indemnification Arrangement shall not in any way limit or affect the rights and obligations of the Company
or of Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement by
the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the Company or the other party or
parties thereto under any such Indemnification Arrangement.

 

16.3. To the extent
that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, trustees, partners,
managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which such person serves
at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to
the maximum extent of the coverage available for any such director, officer, trustee, partner, managers, managing member, fiduciary,
employee or agent under such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as
to which Indemnitee is a party or a participant (as a witness, deponent or otherwise), the Company has director and officer liability
insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures
set forth in the respective policies. The Company shall thereafter use commercially reasonable efforts to cause such insurers to
pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 

16.4. In the event
of any payment under this Agreement, the Company , to the fullest extent permitted by law, shall be subrogated to the extent of
such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary
to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such
rights. No such payment by the Company shall be deemed to relieve any insurer of its obligations.

 

16.5. The Company’s
obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving at the request
of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of any other Enterprise
shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration payments or advancement
of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary, but subject to Section
27, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification, hold harmless,
exoneration, advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee prior
to the Company’s satisfaction and performance of all its obligations under this Agreement, and (ii) the Company shall
perform fully its obligations under this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any indemnification,
advancement, hold harmless, exoneration, contribution or insurance coverage rights against any person or entity other than the
Company.

 

16.6. Notwithstanding
anything contained herein, the Company is the primary indemnitor, and any indemnification or advancement obligation of the Sponsor
or its affiliates or members or any other Person is secondary.

 

17. DURATION
OF AGREEMENT. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee serves
as a director or officer of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary, employee
or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which Indemnitee
serves at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding
(including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement)
by reason of his Corporate Status, whether or not he, she or they is or are acting in any such capacity at the time any liability
or expense is incurred for which indemnification or advancement can be provided under this Agreement.

 

    - 11 -

     

    

 

18. SEVERABILITY.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation,
each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and
shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed
to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to
the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section, paragraph
or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid,
illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

 

19. ENFORCEMENT
AND BINDING EFFECT.

 

19.1. The Company expressly
confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce
Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges that Indemnitee is relying
upon this Agreement in serving as a director, officer or key employee of the Company.

 

19.2. Without limiting
any of the rights of Indemnitee under the Memorandum and Articles of the Company as they may be amended from time to time, this
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof.

 

19.3. The indemnification,
hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement shall be binding
upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor
by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company), shall
continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, officer,
trustee, general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise at the Company’s
request, and shall inure to the benefit of Indemnitee and his, her or their spouse, assigns, heirs, devisees, executors and administrators
and other legal representatives.

 

19.4. The Company shall
require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially
all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory
to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company
would be required to perform if no such succession had taken place.

 

19.5. The Company and
Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate, impracticable
and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto
agree that Indemnitee may, to the fullest extent permitted by law, enforce this Agreement by seeking, among other things, injunctive
relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking
injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to
which he, she or they may be entitled. The Company and Indemnitee further agree that Indemnitee shall, to the fullest extent permitted
by law, be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions
and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges
that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a Court of competent jurisdiction and the
Company hereby waives any such requirement of such a bond or undertaking to the fullest extent permitted by law.

 

20. MODIFICATION
AND WAIVER. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the parties
hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions
of this Agreement nor shall any waiver constitute a continuing waiver.

 

    - 12 -

     

    

 

21. NOTICES.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given (i) if delivered by hand and received for by the party to whom said notice or other communication shall have been directed,
on such delivery, or (ii) if mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after
the date on which it is so mailed:

 

(a) If
to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide
in writing to the Company.

 

(b) If
to the Company, to:

 

Kismet Acquisition One Corp

9 Building B, Lesnaya Street

Moscow, Russia 125196

Attn: Ivan Tavrin

Email: tioffice@kismetcg.com

 

With a copy, which shall not constitute
notice, to:

Greenberg Traurig, LLP

1750 Tysons Boulevard, Suite 1000

McLean, VA 22102

Attn: Alan A. Annex, Esq. and Jason T. Simon, Esq.

Email: annexa@gtlaw.com
and simonj@gtlaw.com

 

or to any other address as may have been
furnished to Indemnitee in writing by the Company.

 

22. APPLICABLE
LAW AND CONSENT TO JURISDICTION. This Agreement and the rights and obligations of the parties hereunder shall be construed
in accordance with and governed by the laws of the British Virgin Islands, without giving effect to the conflict of law principles
thereof. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14.1 of this Agreement, to the fullest
extent permitted by law, the Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding
arising out of or in connection with this Agreement shall be brought only in the New York Court; (b) consent to submit to the exclusive
jurisdiction of the New York Court for purposes of any action or proceeding arising out of or in connection with this Agreement;
(c) waive any objection to the laying of venue of any such action or proceeding in the New York Court; and (d) waive,
and agree not to plead or to make, any claim that any such action or proceeding brought in the New York Court has been brought
in an improper or inconvenient forum, or is subject (in whole or in part) to a jury trial.

 

23.  IDENTICAL
COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to
be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party
against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

24. MISCELLANEOUS.
Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The headings of the paragraphs
of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

 

25. PERIOD
OF LIMITATIONS. No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company
against Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration of two
years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and
deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if
any shorter period of limitations is otherwise applicable to any such cause of action such shorter period shall govern. The period
of limitations set forth in this Section 25 shall no longer be applicable in the case of fraud, gross negligence and willful misconduct.

 

    - 13 -

     

    

 

26. ADDITIONAL
ACTS. If for the validation of any of the provisions in this Agreement any act, resolution, approval or other procedure is
required, to the fullest extent permitted by law, the Company undertakes to cause such act, resolution, approval or other procedure
to be affected or adopted in a manner that will enable the Company to fulfill its obligations under this Agreement.

 

27.  WAIVER
OF CLAIMS TO TRUST ACCOUNT.

 

Notwithstanding anything contained herein
to the contrary, Indemnitee hereby agrees that it does not have any right, title, interest or claim of any kind (each, a “Claim”)
in or to any monies in the Trust Account, and hereby waives any Claim it may have in the future as a result of, or arising out
of, any services provided to the Company and will not seek recourse against such Trust Account for any reason whatsoever. Accordingly,
Indemnitee acknowledges and agrees that any indemnification provided hereto will only be able to be satisfied by the Company if
(i) the Company has sufficient funds outside of the Trust Account to satisfy its obligations hereunder or (ii) the Company consummates
an initial business combination.

 

28. MAINTENANCE
OF INSURANCE

 

The Company shall use commercially reasonable
efforts to obtain and maintain in effect during the entire period for which the Company is obligated to indemnify the Indemnitee
under this Agreement, one or more policies of insurance with reputable insurance companies to provide the officers/directors of
the Company with coverage for losses from wrongful acts and omissions and to ensure the Company’s performance of its indemnification
obligations under this Agreement. The Indemnitee shall be covered by such policy or policies in accordance with its or their terms
to the maximum extent of the coverage available for any such director or officer under such policy or policies. In all such insurance
policies, the Indemnitee shall be named as an insured in such a manner as to provide the Indemnitee with the same rights and benefits
as are accorded to the most favorably insured of the Company’s directors and officers.

 

[SIGNATURE PAGE FOLLOWS]

 

    - 14 -

     

    

 

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

 

	 	KISMET ACQUISITION ONE CORP
	 	 	 
	 	By:	             
	 	 	Name	 
	 	 	 
	 	INDEMNITEE
	 	 
	 	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Address:	 
	 	 	 
	 	 	 
	 	Email:	 

 

 

- 15 -EXECUTION
COPY

 

NOTE
SETTLEMENT AGREEMENT

 

This
Note Settlement Agreement (this “Agreement”) is entered into as of July 31, 2020 (the “Effective Date”)
by and between Iliad Research and Trading, L.P., a Utah limited partnership (“Lender”), and Generex Biotechnology
Corporation, a Delaware corporation (“Borrower”). Capitalized terms used in this Agreement without definition
shall have the meanings given to them in the Note (defined below). Each of Borrower and Lender is sometimes referred to herein
individually as a “Party” and collectively as the “Parties.”

A. 
Borrower previously sold and issued to Lender that certain Convertible Promissory Note dated September 11, 2019 in the original
principal amount of $872,500.00 (the “Note”) pursuant to that certain Securities Purchase Agreement dated September
11, 2019 by and between Lender and Borrower (the “Purchase Agreement,” and together with the Note and all other
documents entered into in conjunction therewith, the “Transaction Documents”).

B. 
As a result of the alleged occurrence of certain defaults under the Transaction Documents as set forth more fully in the Lawsuit
(as defined below), Lender filed a lawsuit against Borrower in the Third Judicial District Court of Salt Lake County, State of
Utah, Case No. 200903161 (the “Lawsuit”) and initiated arbitration against Borrower by delivering an Arbitration
Notice pursuant to Section 8.1 and Exhibit E of the Purchase Agreement (the “Arbitration”).

C.
In connection with the Arbitration, the arbitrator entered a preliminary injunctionw ith respect to Borrower’s
Common Stock (the “Injunction”).

 

D. 
Lender and Borrower now desire to settle any dispute related to the Transaction Documents on the terms and conditions set forth
herein and to dismiss the Lawsuit and the Arbitration with prejudice.

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree
as follows:

1. 
Recitals and Definitions. Each of the parties hereto acknowledges and agrees that the recitals set forth above in this
Agreement are true and accurate, are contractual in nature, and are hereby incorporated into and made a part of this Agreement.

2. 
Note Conversion. Together with its execution of this Agreement, Lender has delivered to Borrower a Conversion Notice pursuant
to the terms of the Note, a copy of which is attached hereto as Exhibit A (the “Conversion Notice”).
By its execution below, Borrower acknowledges its receipt of the Conversion Notice as of the date of this Agreement. Pursuant
to the Conversion Notice, Borrower is required, and hereby agrees, to issue to Lender 3,499,415 Conversion Shares in accordance
with and in the manner and within the timeframes prescribed in Section 8 of the Note (the “Shares”). For the
avoidance of doubt, in order for the Shares to be deemed to have been delivered to Lender, (a) all of the Shares or certificate(s)
representing the Shares must have been cleared and approved for public resale by the compliance departments of Lender’s
brokerage firm and the clearing firm servicing such brokerage, and (b) all of the Shares must be held in the name of the clearing
firm servicing Lender’s brokerage firm and must have been deposited into such clearing firm’s account for the benefit
of Lender.

3. 
Final Settlement; Payment in Full. Final settlement of this Agreement (“Final Settlement”) (and thereby,
the Transaction Documents) shall immediately occur once the Shares have been delivered to Lender. Upon Final Settlement, Borrower
shall be deemed to have paid the entire Outstanding Balance (as defined in the Note) of the Note in full, Borrower shall have
no further obligations under the Note, the Transaction Documents will terminate and shall be deemed to be of no further force
or effect, and the Parties shall be released from all obligations, definitions, representations and commitments therein. Subject
to and conditioned on Lender’s receipt of the Shares, the Parties further acknowledge and agree that by executing this Agreement,
all Parties forever release any and all claims or counterclaims against the other Party to this Agreement arising at any time
in the unlimited past, to and including the date of this Agreement, including, but without limiting the generality of the foregoing,
any and all matters arising out of or in any whatsoever connected to the Lawsuit or Arbitration, whether or not pleaded in the
Lawsuit or Arbitration.

4. 
Dismissal of Lawsuit and Arbitration. The Parties agree to jointly move to dismiss the Lawsuit and the Arbitration with
prejudice within five (5) Trading Days (as defined in the Note) of Lender’s receipt of the Shares. The Parties agree that
the Injunction will be terminated and of no further force or effect as part of the dismissal of the Lawsuit and Arbitration; provided,
however, that promptly following its receipt of the Shares, Lender agrees to exercise its best efforts to cause the Injunction
to be terminated immediately (Borrower acknowledges that such termination is subject to the arbitrator’s response time to
such filings).

5. 
Failure to Comply. Should Borrower fail to comply with any of the conditions set forth herein, including without limitation
failing to deliver the Shares when due, all accommodations given herein shall immediately and automatically be deemed withdrawn
and each Party shall be entitled to all remedies available to it at law, in equity or as otherwise set forth in this Agreement,
including without limitation, filing a new lawsuit to enforce the terms of this Agreement and/or continuing the Lawsuit and the
Arbitration and enforcing the Injunction.

6. 
Representations, Warranties and Agreements. In order to induce both Parties to enter into this Agreement, each Party, for
itself, and for its affiliates, successors and assigns, hereby acknowledges, represents, warrants and agrees as follows: 

6.1. 
Authority. Each Party has full power and authority to enter into this Agreement and to incur and perform all obligations
and covenants contained herein, all of which have been duly authorized by all proper and necessary action. No consent, approval,
filing or registration with or notice to any governmental authority is required as a condition to the validity of this Agreement
or the performance of any of the obligations of Borrower hereunder.

6.2. 
No Waiver. Any Event of Default which may have occurred under the Note has not been, is not hereby, and shall not be deemed
to be waived by Lender, expressly, impliedly, through course of conduct or otherwise except upon full satisfaction of Borrower’s
obligations under this Agreement. The agreement of Lender to refrain and forbear from exercising any rights and remedies by reason
of any existing default or any future default shall not constitute a waiver of, consent to, or condoning of, any other existing
or future default.

6.3. 
Accurate Representations. All understandings, representations, warranties and recitals contained or expressed in this Agreement
are true, accurate, complete, and correct in all respects; and no such understanding, representation, warranty, or recital fails
or omits to state or otherwise disclose any material fact or information necessary to prevent such understanding, representation,
warranty, or recital from being misleading. Each Party acknowledges and agrees that other Party has been induced in part to enter
into this Agreement based upon each Party’s justifiable reliance on the truth, accuracy, and completeness of all understandings,
representations, warranties, and recitals contained in this Agreement. There is no fact known to each Party or which should be
known to each Party which each Party has not disclosed to the other Party on or prior to the date hereof which would or could
materially and adversely affect the understandings of each Party expressed in this Agreement or any representation, warranty,
or recital contained in this Agreement.

6.4. 
Voluntary Agreement. Each party hereby acknowledges that it has freely and voluntarily entered into this Agreement after
an adequate opportunity and sufficient period of time to review, analyze, and discuss (i) all terms and conditions of this Agreement,
(ii) any and all other documents executed and delivered in connection with the transactions contemplated by this Agreement, and
(iii) all factual and legal matters relevant to this Agreement and/or any and all such other documents, with counsel freely and
independently selected by each respective Party (or had the opportunity to be represented by counsel). Each Party further acknowledges
and agrees that it has actively and with full understanding participated in the negotiation of this Agreement and all other documents
executed and delivered in connection with this Agreement after consultation and review with its counsel (or had the opportunity
to be represented by counsel), that all of the terms and conditions of this Agreement and the other documents executed and delivered
in connection with this Agreement have been negotiated at arm’s-length, and that this Agreement and all such other documents
have been negotiated, prepared, and executed without fraud, duress, undue influence, or coercion of any kind or nature whatsoever
having been exerted by or imposed upon any party by any other party. No provision of this Agreement or such other documents shall
be construed against or interpreted to the disadvantage of any party by any court or other governmental or judicial authority
by reason of such party having or being deemed to have structured, dictated, or drafted such provision.

6.5. 
No Statutes. There is no statute, regulation, rule, order or judgment and no provision of any mortgage, indenture, contract
or other agreement binding on either Party, which would prohibit or cause a default under or in any way prevent the execution,
delivery, performance, compliance or observance of any of the terms and conditions of this Agreement and/or any of the other documents
executed and delivered in connection with this Agreement.

6.6. 
Solvent. Each party is solvent as of the date of this Agreement, and none of the terms or provisions of this Agreement
shall have the effect of rendering either Party insolvent. The terms and provisions of this Agreement and all other instruments
and agreements entered into in connection herewith are being given for full and fair consideration and exchange of value.

7. 
Certain Acknowledgments. Each of the Parties acknowledges and agrees that no property or cash consideration of any kind
whatsoever has been or shall be given by Lender to Borrower in connection with this Agreement.

8. 
No Admission. The Parties hereto understand and acknowledge that this is a compromise, settlement and mutual release without
any admission of liability or error or bad faith on the part of any Party or any of its agents, prior or present attorneys, predecessors,
successors, assigns, subsidiaries, divisions, alter egos, affiliated corporations and related entities, and their past or present
officers, directors, partners, employees, agents and any or all of them.

 9. Miscellaneous.

9.1. 
Further Assurances. At any time or from time to time after the Effective Date, at the request of a Party, and without further
consideration, each of the Parties shall execute and deliver, or shall cause its respective affiliate(s) to execute and deliver,
such other agreements, instruments, certifications or other documents as may be necessary or desirable to effectuate the transactions
and fulfill its obligations under this Agreement.

9.2. 
Arbitration. By its execution of this Agreement, each Party agrees to be bound by the Arbitration Provisions (as defined
in the Purchase Agreement) set forth as an exhibit to the Purchase Agreement and the parties agree to submit all Claims (as defined
in the Purchase Agreement) arising under this Agreement or any Transaction Document or other agreement between the parties and
their affiliates to binding arbitration pursuant to the Arbitration Provisions.

9.3. 
Governing Law; Venue. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Utah
without regard to the principles of conflict of laws. Each Party consents to and expressly agrees that the exclusive venue for
arbitration of any dispute arising out of or relating to this Agreement or any Transaction Document or the relationship of the
Parties or their affiliates shall be in Salt Lake County, Utah. Without modifying the Parties obligations to resolve disputes
hereunder or under any Transaction Document pursuant to the Arbitration Provisions, each Party hereto submits to the exclusive
jurisdiction of any state or federal court sitting in Salt Lake County, Utah in any proceeding arising out of or relating to this
Agreement and agrees that all Claims in respect of the proceeding may only be heard and determined in any such court and hereby
expressly submits to the exclusive personal jurisdiction and venue of such court for the purposes hereof and expressly waives
any claim of improper venue and any claim that such courts are an inconvenient forum. Each Party hereto hereby irrevocably consents
to the service of process of any of the aforementioned courts in any such proceeding by the mailing of copies thereof by registered
or certified mail, postage prepaid, to its address as set forth in the Purchase Agreement, such service to become effective ten

(10) 
days after such mailing. BORROWER HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL
FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED
HEREBY.

9.4. 
Severability. If any part of this Agreement is construed to be in violation of any law, such part shall be modified to
achieve the objective of the Parties to the fullest extent permitted and the balance of this Agreement shall remain in full force
and effect.

9.5. 
Successors. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors
and assigns. This Agreement or any of the severable rights and obligations inuring to the benefit of or to be performed by Lender
hereunder may be assigned by Lender to a third party, including its financing sources, in whole or in part. Borrower may not assign
this Agreement or any of its obligations herein without the prior written consent of Lender.

9.6. 
Entire Agreement. This Agreement, together with all other documents referred to herein, supersedes all other prior oral
or written agreements between Borrower, Lender, its affiliates and persons acting on its behalf with respect to the matters discussed
herein, and this Agreement and the instruments referenced herein contain the entire understanding of the Parties with respect
to the matters covered herein and therein and, except as specifically set forth herein or therein, neither Lender nor Borrower
makes any representation, warranty, covenant or undertaking with respect to such matters.

9.7. 
Amendments; Waiver. This Agreement may be amended, modified, or supplemented only by written agreement of the Parties.
No provision of this Agreement may be waived except in writing signed by the Party against whom such waiver is sought to be enforced.

9.8. 
Attorneys’ Fees. In the event of any action at law or in equity to enforce or interpret the terms of this Agreement,
the Parties agree that the Party who is awarded the most money (without regard to any fines, penalties, or charges imposed by
any governmental or regulatory authority) shall be deemed the prevailing Party for all purposes and shall therefore be entitled
to an additional award of the full amount of the attorneys’ fees and expenses paid by such prevailing Party in connection
with the dispute without reduction or apportionment based upon the individual claims or defenses giving rise to the fees and expenses.
Nothing herein shall restrict or impair an arbitrator’s or a court’s power to award fees and expenses for frivolous
or bad faith pleading.

9.9. 
Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all signing parties
had signed the same document. All counterparts shall be construed together and constitute the same instrument. The exchange of
copies of this Agreement and of signature pages by facsimile transmission or other electronic transmission (including email) shall
constitute effective execution and delivery of this Agreement as to the Parties and may be used in lieu of the original Agreement
for all purposes. Signatures of the Parties transmitted by facsimile transmission or other electronic transmission (including
email) shall be deemed to be their original signatures for all purposes.

9.10. 
Acknowledgement. By executing this Agreement, each of the Parties evidences that it carefully read and fully understands
all of the provisions of this Agreement.

9.11. 
No Reliance. Each Party acknowledges and agrees that neither Party nor any of its officers, directors, members, managers,
representatives or agents has made any representations or warranties to the other Party or any of its agents, representatives,
officers, directors, stockholders, or employees except as expressly set forth in this Agreement and, in making its decision to
enter into the transactions contemplated by this Agreement, neither Party is relying on any representation, warranty, covenant
or promise of the other Party or its officers, directors, members, managers, agents or representatives other than as set forth
in this Agreement. 

9.12. 
Conflict Between Documents. This Agreement shall not be effective or binding unless and until it is fully executed and
delivered by Lender and Borrower. If there is any conflict between the terms of this Agreement, on the one hand, and the Note
or any other Transaction Document, on the other hand, the terms of this Agreement shall prevail.

9.13. 
Time is of the Essence. Time is expressly made of the essence with respect to each and every provision of this Agreement.

9.14. 
Notices. Unless otherwise specifically provided for herein, all notices, demands or requests required or permitted under
this Agreement to be given to Borrower or Lender shall be given as set forth in the “Notices” section of the Purchase
Agreement.

 

[Remainder
of page intentionally left blank]

    	 	1	 

     

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Agreement to be effective as of the Effective Date.

 

LENDER:

ILIAD
RESEARCH AND TRADING, L.P. 

By: Iliad Management, LLC, its General Partner

By:
Fife Trading, Inc., its Manager 

By:
/s/ John M. Fife

John M. Fife, President

 

BORROWER:

GENEREX BIOTECHNOLOGY CORPORATION

By:/s/
Joe Moscato

Name: Joe Moscato

Title:
President and CEO

 

 

[Signature
Page to Note Settlement Agreement]

    	 	2	 

     

    

IN
WITNESS WHEREOF, the undersigned have executed this Agreement to be effective as of the Effective Date.

 

LENDER:

ILIAD
RESEARCH AND TRADING, L.P.

By:
Iliad Management, LLC, its General Partner

By:
Fife Trading, Inc., its Manager

By:
/s/ John Fife

John
M. Fife, President

 

BORROWER:

GENEREX
BIOTECHNOLOGY CORPORATION

 

By:
/s/ Joe Moscato

Name: Joe Moscato

Title:
President and CEO

 

 

 

[Signature
Page to Note Settlement Agreement]

    	 	3	 

     

    

 

EXHIBIT
A

CONVERSION NOTICE

    	 	4	 

     

    

 

EXHIBIT
A

 

Iliad
Research and Trading, L.P.

303 East Wacker Drive, Suite 1040

Chicago,
Illinois 60601

 

	Generex Biotechnology Corporation	 	Date: July 30, 2020
	Attn: Joseph Moscato Jr.	 	 
	10101 USA Today Way	 	 
	Miramar, Florida 33025	 	 
	 	 	 

 

CONVERSION
NOTICE 

The
above-captioned Lender hereby gives notice to Generex Biotechnology Corporation, a Delaware corporation (the “Borrower”),
pursuant to that certain Convertible Promissory Note made by Borrower in favor of Lender on September 6, 2019 (the “Note”),
that Lender elects to convert the portion of the Note balance set forth below into fully paid and non-assessable shares of Common
Stock of Borrower as of the date of conversion specified below. Said conversion shall be based on the Conversion Price set forth
below. In the event of a conflict between this Conversion Notice and the Note, the Note shall govern, or, in the alternative,
at the election of Lender in its sole discretion, Lender may provide a new form of Conversion Notice to conform to the Note. Capitalized
terms used in this notice without definition shall have the meanings given to them in the Note.

		A.	Date
                                         of Conversion:July 30, 2020

		B.	Conversion
                                         #:2

		C.	Conversion
                                         Amount:$1,459,675.78

		D.	Conversion
                                         Price:$0.41712

		E.	Conversion
                                         Shares:3,499,415(C divided by D)

		F.	Remaining
                                         Outstanding Balance of Note: $0.00*

 

*
Subject to adjustments for corrections, defaults, interest and other adjustments permitted by the Transaction Documents (as defined
in the Purchase Agreement), the terms of which shall control in the event of any dispute between the terms of this Conversion
Notice and such Transaction Documents. 

Please
transfer the Conversion Shares electronically (via DWAC) to the following account:

 

	Broker: Vision financial Markets LLC	Address:	Attn: Randy Jones
	DTC# 0595	 	120 Long Ridge Road, 3 North
	Account # 20106709	 	Stamford, CT 06902
	Account Name: Illiad Research and Trading, L.P.	 	 
	 	 	 

To
the extent the Conversion Shares are not able to be delivered to Lender electronically via the DWAC system, deliver all such certificated
shares to Lender via reputable overnight courier after receipt of this Conversion Notice (by facsimile transmission or otherwise)
to the address immediately above.

 

 

 

 

[Signature
Page Follows]

    	 	5	 

     

    

 

Sincerely,
Lender:

ILIAD
RESEARCH AND TRADING, L.P.

 

By:
Iliad Management, LLC, its General Partner

By: Fife Trading, Inc., its Manager

By:
/s/ John M. Fife

John
M. Fife, President

    	 	6	 

     

    

 

GNBT Conversion #2

	 	Date	Closing Price
	 	 	 
	1	7/29/2020	0.5214*
	2	7/28/2020	0.5368
	3	7/27/2020	0.56
	4	7/24/2020	0.5749
	5	7/23/2020	05856
	6	7/22/2020	0.6106
	7	7/21/2020	0.582
	8	7/20/2020	0.61
	9	7/17/2020	0.5733
	10	7/16/2020	0.58
	11	7/15/2020	0.58
	12	7/14/2020	0.57
	13	7/13/2020	0.595
	14	7/10/2020	0.62
	15	7/9/2020	0.62
	16	7/8/2020	0.595
	17	7/7/2020	0.5815
	18	7/6/2020	0.5883
	19	7/2/2020	0.5985
	20	7/1/2020	0.625
	 	 	 
	 	Lowest Closing Trade Price:	$0.521400
	 	Conversion Factor:	80%
	 	Conversion Price:	$0.417120
	 	 	 
	 	Conversion Amount	$1,459,675.78
	 	 	 
	 	Lender Conversion Shares	3,499,415

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