Document:

Exhibit 10.12

 

SMARTRENT.COM, INC.

AMENDED AND RESTATED

2018 STOCK PLAN

 

1.             Establishment,
Purpose and Term of Plan.

 

1.1           Establishment.
The SmartRent.com, Inc. 2018 Stock Plan (the “Plan”)
was established effective as of March 7, 2018 (the “Effective Date”) and is hereby amended and restated effective
as of April 6, 2021.

 

1.2           Purpose.
The purpose of the Plan is to advance the interests of the Participating Company Group and its stockholders by providing an incentive
to attract, retain and reward persons performing services for the Participating Company Group and by motivating such persons to contribute
to the growth and profitability of the Participating Company Group. The Plan seeks to achieve this purpose by providing for Awards in
the form of Options, Restricted Stock Awards and Restricted Stock Unit Awards.

 

1.3           Term
of Plan. The Plan shall continue in effect until its termination by the Board; provided, however, that all Awards shall be granted,
if at all, within ten (10) years from the earlier of the date the Plan is adopted by the Board or the date the Plan is duly
approved by the stockholders of the Company.

 

2.             Definitions
and Construction.

 

2.1           Definitions.
Whenever used herein, the following terms shall have their respective meanings set forth below:

 

(a)           “Award”
means an Option, Restricted Stock Purchase Right, Restricted Stock Bonus or Restricted Stock Unit Award granted under the Plan.

 

(b)           “Award
Agreement” means a written or electronic agreement between the Company and a Participant setting forth the terms, conditions
and restrictions applicable to an Award.

 

(c)           “Board”
means the Board of Directors of the Company. If one or more Committees have been appointed by the Board to administer the Plan, “Board”
also means such Committee(s).

 

    

     

    

 

(d)           “Cause”
means, unless such term or an equivalent term is otherwise defined by the applicable Award Agreement or other written agreement between
a Participant and a Participating Company applicable to an Award, any of the following: (i) the Participant’s theft, dishonesty,
willful misconduct, breach of fiduciary duty for personal profit, or falsification of any Participating Company documents or records;
(ii) the Participant’s material failure to abide by a Participating Company’s code of conduct or other policies (including,
without limitation, policies relating to confidentiality and reasonable workplace conduct); (iii) the Participant’s unauthorized
use, misappropriation, destruction or diversion of any tangible or intangible asset or corporate opportunity of a Participating Company
(including, without limitation, the Participant’s improper use or disclosure of a Participating Company’s confidential or
proprietary information); (iv) any intentional act by the Participant which has a material detrimental effect on a Participating
Company’s reputation or business; (v) the Participant’s repeated failure or inability to perform any reasonable assigned
duties after written notice from a Participating Company of, and a reasonable opportunity to cure, such failure or inability; (vi) any
material breach by the Participant of any employment or service agreement between the Participant and a Participating Company, which breach
is not cured pursuant to the terms of such agreement; or (vii) the Participant’s conviction (including any plea of guilty or
nolo contendere) of any criminal act involving fraud, dishonesty, misappropriation or moral turpitude, or which impairs the Participant’s
ability to perform his or her duties with a Participating Company.

 

(e)           “Change
in Control” means, unless such term or an equivalent term is otherwise defined by the applicable Award Agreement or other written
agreement between the Participant and a Participating Company applicable to an Award, the occurrence of any one or a combination of the
following:

 

(i)            an
Ownership Change Event or a series of related Ownership Change Events (collectively, a “Transaction”) in which the
stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction direct or indirect beneficial
ownership of more than fifty percent (50%) of the total combined voting power of the outstanding securities entitled to vote generally
in the election of Directors or, in the case of an Ownership Change Event described in Section 2.1(u)(iii), the entity to which the
assets of the Company were transferred (the “Transferee”), as the case may be; or

 

(ii)           a
date specified by the Board following approval by the stockholders of a plan of complete liquidation or dissolution of the Company;

 

provided, however, that a Change in Control shall
not include a transaction described in subsection (i) of this Section 2.1(e) in which a majority of the members of the
board of directors of the continuing, surviving or successor entity, or parent thereof, immediately after such transaction is comprised
of Incumbent Directors.

 

For purposes of the preceding sentence, indirect
beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations
or other business entities which own the Company or the Transferee, as the case may be, either directly or through one or more subsidiary
corporations or other business entities. The Board shall determine whether multiple events described in subsections (i) and (ii) of
this Section 2.1(e) are related and to be treated in the aggregate as a single Change in Control, and its determination shall
be final, binding and conclusive.

 

(f)            “Code”
means the Internal Revenue Code of 1986, as amended, and any applicable regulations and administrative guidelines promulgated thereunder.

 

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(g)           “Committee”
means the compensation committee or other committee or subcommittee of the Board duly appointed to administer the Plan and having such
powers as specified by the Board. Unless the powers of the Committee have been specifically limited, the Committee shall have all of
the powers of the Board granted herein, including, without limitation, the power to amend or terminate the Plan at any time, subject
to the terms of the Plan and any applicable limitations imposed by law.

 

(h)           “Company”
means SmartRent.com, Inc., a Delaware corporation, and any successor thereto.

 

(i)            “Consultant”
means a person engaged to provide consulting or advisory services (other than as an Employee or a Director) to a Participating Company,
provided that the identity of such person, the nature of such services or the entity to which such services are provided would not preclude
the Company from offering or selling securities to such person pursuant to the Plan in reliance on either the exemption from registration
provided by Rule 701 under the Securities Act or, if the Company is required to file reports pursuant to Section 13 or 15(d) of
the Exchange Act, registration on a Form S-8 Registration Statement under the Securities Act.

 

(j)            “Director”
means a member of the Board.

 

(k)           “Disability”
means the inability of the Participant, in the opinion of a qualified physician acceptable to the Company, to perform the major duties
of the Participant’s position with the Participating Company Group because of the sickness or injury of the Participant.

 

(l)            “Employee”
means any person treated as an employee (including an Officer or a Director who is also treated as an employee) in the records of a Participating
Company and, with respect to any Incentive Stock Option granted to such person, who is an employee for purposes of Section 422 of
the Code; provided, however, that neither service as a Director nor payment of a director’s fee shall be sufficient to constitute
employment for purposes of the Plan. The Company shall determine in good faith and in the exercise of its discretion whether an individual
has become or has ceased to be an Employee and the effective date of such individual’s employment or termination of employment,
as the case may be. For purposes of an individual’s rights, if any, under the terms of the Plan as of the time of the Company’s
determination of whether or not the individual is an Employee, all such determinations by the Company shall be final, binding and conclusive
as to such rights, if any, notwithstanding that the Company or any court of law or governmental agency subsequently makes a contrary
determination as to such individual’s status as an Employee.

 

(m)          “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

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(n)           “Fair
Market Value” means, as of any date, the value of a share of Stock or other property as determined by the Board, in its discretion,
or by the Company, in its discretion, if such determination is expressly allocated to the Company herein, subject to the following:

 

(i)            If,
on such date, the Stock is listed or quoted on a national or regional securities exchange or quotation system, the Fair Market Value
of a share of Stock shall be the closing price of a share of Stock as quoted on the national or regional securities exchange or quotation
system constituting the primary market for the Stock, as reported in The Wall Street Journal or such other source as the Company
deems reliable. If the relevant date does not fall on a day on which the Stock has traded on such securities exchange or quotation system,
the date on which the Fair Market Value shall be established shall be the last day on which the Stock was so traded or quoted prior to
the relevant date, or such other appropriate day as shall be determined by the Board, in its discretion.

 

(ii)           If,
on such date, the Stock is not listed or quoted on a national or regional securities exchange or quotation system, the Fair Market Value
of a share of Stock shall be as determined by the Board in good faith without regard to any restriction other than a restriction which,
by its terms, will never lapse, and in a manner consistent with the requirements of Section 409A.

 

(o)           “Incentive
Stock Option” means an Option intended to be (as set forth in the Award Agreement) and which qualifies as an incentive stock
option within the meaning of Section 422(b) of the Code.

 

(p)           “Incumbent
Director” means a director who either (i) is a member of the Board as of the Effective Date or (ii) is elected, or
nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such
election or nomination (but excluding a director who was elected or nominated in connection with an actual or threatened proxy contest
relating to the election of directors of the Company).

 

(q)           “Insider”
means an Officer, a Director or other person whose transactions in Stock are subject to Section 16 of the Exchange Act.

 

(r)            “Nonstatutory
Stock Option” means an Option not intended to be (as set forth
in the Award Agreement) or which does not qualify as an incentive stock option within the meaning of Section 422(b) of the Code.

 

(s)           “Officer”
means any person designated by the Board as an officer of the Company.

 

(t)            “Option”
means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant to the Plan.

 

(u)           “Ownership
Change Event” means the occurrence of any of the following with
respect to the Company: (i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders
of the Company of securities of the Company representing more than fifty percent (50%) of the total combined voting power of the Company’s
then outstanding securities entitled to vote generally in the election of Directors; (ii) a merger or consolidation in which the
Company is a party; or (iii) the sale, exchange, or transfer of or exclusive license involving all or substantially all of the assets
of the Company (other than a sale, exchange or transfer to one or more subsidiaries of the Company); provided, however, that the sale
of Company securities in a transaction or series of transactions relating to a financing, the principal purpose of which is to raise money
for the Company’s working capital or capital expenditures, shall not be considered an Ownership Change Event.

 

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(v)           “Parent
Corporation” means any present or future “parent corporation” of the Company, as defined in Section 424(e) of
the Code.

 

(w)          “Participant”
means any eligible person who has been granted one or more Awards.

 

(x)           “Participating
Company” means the Company or any Parent Corporation or Subsidiary Corporation.

 

(y)           “Participating
Company Group” means, at any point in time, all entities collectively
which are then Participating Companies.

 

(z)            “Restricted
Stock Award” means an Award in the form of a Restricted Stock Bonus or a Restricted Stock Purchase Right.

 

(aa)         “Restricted
Stock Bonus” means Stock granted to a Participant pursuant to Section 7.

 

(bb)        “Restricted
Stock Purchase Right” means a right to purchase Stock granted to a Participant pursuant to Section 7.

 

(cc)         “Restricted
Stock Unit” means a right granted to a Participant pursuant to Section 8 to receive on a future date or event a share
of Stock or cash in lieu thereof, as determined by the Board.

 

(dd)         “Rule 16b-3”
means Rule 16b-3 under the Exchange Act, as amended from time to time, or any successor rule or regulation.

 

(ee)         “Section 409A”
means Section 409A of the Code.

 

(ff)          “Securities
Act” means the Securities Act of 1933, as amended.

 

(gg)        “Service”
means a Participant’s employment or service with the Participating Company Group, whether as an Employee, a Director or a Consultant.
Unless otherwise provided by the Board, a Participant’s Service shall not be deemed to have terminated merely because of a change
in the capacity in which the Participant renders Service or a change in the Participating Company for which the Participant renders Service,
provided that there is no interruption or termination of the Participant’s Service. Furthermore, a Participant’s Service shall
not be deemed to have been interrupted or terminated if the Participant takes any military leave, sick leave, or other bona fide leave
of absence approved by the Company. However, unless otherwise provided by the Board, if any such leave taken by a Participant exceeds
ninety (90) days, then on the ninety-first (91st) day following the commencement of such leave the Participant’s Service shall be
deemed to have terminated, unless the Participant’s right to return to Service is guaranteed by statute or contract. Notwithstanding
the foregoing, unless otherwise designated by the Company or required by law, an unpaid leave of absence shall not be treated as Service
for purposes of determining vesting under the Participant’s Award Agreement. A Participant’s Service shall be deemed to have
terminated either upon an actual termination of Service or upon the business entity for which the Participant performs Service ceasing
to be a Participating Company. Subject to the foregoing, the Company, in its discretion, shall determine whether the Participant’s
Service has terminated and the effective date of and reason for such termination.

 

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(hh)         “Stock”
means the common stock of the Company, as adjusted from time to time in accordance with Section 4.3.

 

(ii)           “Subsidiary
Corporation” means any present or future “subsidiary corporation” of the Company, as defined in Section 424(f) of
the Code.

 

(jj)           “Ten
Percent Stockholder” means a person who, at the time an Award
is granted to such person, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock
of a Participating Company within the meaning of Section 422(b)(6) of the Code.

 

(kk)         “Trading
Compliance Policy” means the written policy of the Company pertaining to the purchase, sale, transfer or other disposition
of the Company’s equity securities by Directors, Officers, Employees or other service providers who may possess material, nonpublic
information regarding the Company or its securities.

 

(ll)           “Vesting
Conditions” mean those conditions established in accordance with the Plan prior to the satisfaction of which an Award or shares
subject to an Award remain subject to forfeiture or a repurchase option in favor of the Company exercisable for the Participant’s
monetary purchase price, if any, for such shares upon the Participant’s termination of Service or failure of a performance condition
to be satisfied.

 

2.2           Construction.
Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the
Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular.
Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

 

3.             Administration.

 

3.1           Administration
by the Board. The Plan shall be administered by the Board. All questions of interpretation of the Plan, of any Award Agreement or
of any other form of agreement or other document employed by the Company in the administration of the Plan or of any Award shall be determined
by the Board, and such determinations shall be final, binding and conclusive upon all persons having an interest in the Plan or such Award,
unless fraudulent or made in bad faith. Any and all actions, decisions and determinations taken or made by the Board in the exercise of
its discretion pursuant to the Plan or Award Agreement or other agreement thereunder (other than determining questions of interpretation
pursuant to the preceding sentence) shall be final, binding and conclusive upon all persons having an interest therein. All expenses incurred
in connection with the administration of the Plan shall be paid by the Company.

 

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3.2           Authority
of Officers. Any Officer shall have the authority to act on behalf of the Company with respect to any matter, right, obligation, determination
or election that is the responsibility of or that is allocated to the Company herein, provided that the Officer has apparent authority
with respect to such matter, right, obligation, determination or election.

 

3.3           Powers
of the Board. In addition to any other powers set forth in the Plan and subject to the provisions of the Plan, the Board shall
have the full and final power and authority, in its discretion:

 

(a)           to
determine the persons to whom, and the time or times at which, Awards shall be granted and the number of shares of Stock or units to
be subject to each Award;

 

(b)           to
determine the type of Award granted;

 

(c)           to
determine the Fair Market Value of shares of Stock or other property;

 

(d)           to
determine the terms, conditions and restrictions applicable to each Award (which need not be identical) and any shares acquired pursuant
thereto, including, without limitation, (i) the exercise or purchase price of shares pursuant to any Award, (ii) the method
of payment for shares purchased pursuant to any Award, (iii) the method for satisfaction of any tax withholding obligation arising
in connection with any Award, including by the withholding or delivery of shares of Stock, (iv) the timing, terms and conditions
of the exercisability or vesting of any Award or any shares acquired pursuant thereto, (v) the time of expiration of any Award,
(vi) the effect of any Participant’s termination of Service on any of the foregoing, and (vii) all other terms, conditions
and restrictions applicable to any Award or shares acquired pursuant thereto not inconsistent with the terms of the Plan;

 

(e)           to
determine whether an Award will be settled in shares of Stock, cash, other property or in any combination thereof;

 

(f)            to
approve one or more forms of Award Agreement;

 

(g)           to
amend, modify, extend, cancel or renew any Award or to waive any restrictions or conditions applicable to any Award or any shares acquired
pursuant thereto;

 

(h)           to
reprice or otherwise adjust the exercise price of any Option, or to grant in substitution for any Option a new Award covering the same
or different number of shares of Stock;

 

(i)            to
accelerate, continue, extend or defer the exercisability or vesting of any Award or any shares acquired pursuant thereto, including with
respect to the period following a Participant’s termination of Service;

 

(j)            to
prescribe, amend or rescind rules, guidelines and policies relating to the Plan, or to adopt sub-plans or supplements to, or alternative
versions of, the Plan, including, without limitation, as the Board deems necessary or desirable to comply with the laws of, or to accommodate
the tax policy, accounting principles or custom of, foreign jurisdictions whose residents may be granted Awards; and

 

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(k)           to
correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award Agreement and to make all other determinations
and take such other actions with respect to the Plan or any Award as the Board may deem advisable to the extent not inconsistent with
the provisions of the Plan or applicable law.

 

3.4           Administration
with Respect to Insiders. With respect to participation by Insiders in the Plan, at any time that any class of equity security of
the Company is registered pursuant to Section 12 of the Exchange Act, the Plan shall be administered in compliance with the requirements,
if any, of Rule 16b-3.

 

3.5           Indemnification.
In addition to such other rights of indemnification as they may have as members of the Board or as officers or employees of the Participating
Company Group, to the extent permitted by applicable law, members of the Board and any officers or employees of the Participating Company
Group to whom authority to act for the Board or the Company is delegated shall be indemnified by the Company against all reasonable expenses,
including attorneys’ fees, actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or
in connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under
or in connection with the Plan, or any right granted hereunder, and against all amounts paid by them in settlement thereof (provided such
settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such
action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such
person is liable for gross negligence, bad faith or intentional misconduct in duties; provided, however, that within sixty (60) days after
the institution of such action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at its own expense
to handle and defend the same.

 

4.             Shares
Subject to Plan.

 

4.1           Maximum
Number of Shares Issuable. Subject to adjustment as provided in Sections 4.2 and 4.3, the maximum aggregate number of shares
of Stock that may be issued under the Plan shall be 4,039,803 and shall consist of authorized but unissued or reacquired shares
of Stock or any combination thereof.

 

4.2           Share
Counting. If an outstanding Award for any reason expires or is terminated or canceled without having been exercised or settled in
full, or if shares of Stock acquired pursuant to an Award subject to forfeiture or repurchase are forfeited or repurchased by the Company
for an amount not greater than the Participant’s exercise or purchase price, the shares of Stock allocable to the terminated portion
of such Award or such forfeited or repurchased shares of Stock shall again be available for issuance under the Plan. Shares of Stock shall
not be deemed to have been issued pursuant to the Plan (a) with respect to any portion of an Award that is settled in cash or (b) to
the extent such shares are withheld or reacquired by the Company in satisfaction of tax withholding obligations pursuant to Section 12.2.
If the exercise price of an Option is paid by tender to the Company, or attestation to the ownership, of shares of Stock owned by the
Participant, or by means of a Net Exercise, the number of shares available for issuance under the Plan shall be reduced by the net number
of shares issued upon the exercise of the Option.

 

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4.3           Adjustments
for Changes in Capital Structure. Subject to any required action by the stockholders of the Company and the requirements of
Sections 409A and 424 of the Code to the extent applicable, in the event of any change in the Stock effected without receipt of consideration
by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend,
stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares, or similar change in the
capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form
other than Stock (excepting regular, periodic cash dividends) that has a material effect on the Fair Market Value of shares of Stock,
appropriate and proportionate adjustments shall be made in the number and kind of shares subject to the Plan and to any outstanding Awards,
in the ISO Share Limit set forth in Section 5.3(a), and in the exercise or purchase price per share under any outstanding Awards
in order to prevent dilution or enlargement of Participants’ rights under the Plan. For purposes of the foregoing, conversion of
any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.”
If a majority of the shares which are of the same class as the shares that are subject to outstanding Awards are exchanged for, converted
into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”),
the Board may unilaterally amend the outstanding Awards to provide that such Awards are for New Shares. In the event of any such amendment,
the number of shares subject to, and the exercise or purchase price per share of, the outstanding Awards shall be adjusted in a fair
and equitable manner as determined by the Board, in its discretion. Any fractional share resulting from an adjustment pursuant to this
Section shall be rounded down to the nearest whole number, and the exercise or purchase price per share shall be rounded up to the
nearest whole cent. In no event may the exercise or purchase price, if any, under any Award be decreased to an amount less than the par
value, if any, of the stock subject to the Award. Such adjustments shall be determined by the Board, and its determination shall be final,
binding and conclusive.

 

4.4           Assumption
or Substitution of Awards. The Board may, without affecting the number of shares of Stock available pursuant to Section 4.1,
authorize the issuance or assumption of benefits under this Plan in connection with any merger, consolidation, acquisition of property
or stock, or reorganization upon such terms and conditions as it may deem appropriate, subject to compliance with Section 409A and
any other applicable provisions of the Code.

 

5.             Eligibility,
Participation and Option Limitations.

 

5.1           Persons
Eligible for Awards. Awards may be granted only to Employees, Consultants and Directors.

 

5.2           Participation
in the Plan. Awards are granted solely at the discretion of the Board. Eligible persons may be granted more than one Award. However,
eligibility in accordance with this Section shall not entitle any person to be granted an Award, or, having been granted an Award,
to be granted an additional Award.

 

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5.3           Incentive
Stock Option Limitations.

 

(a)           Maximum
Number of Shares Issuable Pursuant to Incentive Stock Options. Subject to Section 4.1 and adjustment as provided in Sections 4.2
and 4.3, the maximum aggregate number of shares of Stock that may be issued under the Plan pursuant to the exercise of Incentive Stock
Options shall not exceed 4,039,803 shares (the “ISO Share Limit”). The maximum aggregate number of shares of
Stock that may be issued under the Plan pursuant to all Awards other than Incentive Stock Options shall be the number of shares determined
in accordance with Section 4.1, subject to adjustment as provided in Sections 4.2 and 4.3.

 

(b)           Persons
Eligible. An Incentive Stock Option may be granted only to a person who, on the effective date of grant, is an Employee. Any person
who is not an Employee on the effective date of the grant of an Option to such person may be granted only a Nonstatutory Stock Option.

 

(c)           Fair
Market Value Limitation. To the extent that options designated as Incentive Stock Options (granted under all stock plans of the Participating
Company Group, including the Plan) become exercisable by a Participant for the first time during any calendar year for stock having a
Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the portion of such options which exceeds such amount shall be
treated as Nonstatutory Stock Options. For purposes of this Section, options designated as Incentive Stock Options shall be taken into
account in the order in which they were granted, and the Fair Market Value of stock shall be determined as of the time the option with
respect to such stock is granted. If the Code is amended to provide for a limitation different from that set forth in this Section, such
different limitation shall be deemed incorporated herein effective as of the date and with respect to such Options as required or permitted
by such amendment to the Code. If an Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock Option in part
by reason of the limitation set forth in this Section, the Participant may designate which portion of such Option the Participant is
exercising. In the absence of such designation, the Participant shall be deemed to have exercised the Incentive Stock Option portion
of the Option first. Upon exercise of the Option, shares issued pursuant to each such portion shall be separately identified.

 

6.             Stock
Options.

 

Options shall be evidenced by
Award Agreements specifying the number of shares of Stock covered thereby, in such form as the Board shall establish. Such Award Agreements
may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions:

 

6.1          Exercise
Price. The exercise price for each Option shall be established in the discretion of the Board; provided, however, that (a) the
exercise price per share for an Option shall be not less than the Fair Market Value of a share of Stock on the effective date of grant
of the Option and (b) no Incentive Stock Option granted to a Ten Percent Stockholder shall have an exercise price per share less
than one hundred ten percent (110%) of the Fair Market Value of a share of Stock on the effective date of grant of the Option. Notwithstanding
the foregoing, an Option (whether an Incentive Stock Option or a Nonstatutory Stock Option) may be granted with an exercise price lower
than the minimum exercise price set forth above if such Option is granted pursuant to an assumption or substitution for another option
in a manner that would qualify under the provisions of Section 409A or Section 424(a) of the Code, as applicable.

 

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6.2           Exercisability
and Term of Options. Options shall be exercisable at such time or times, or upon such event or events, and subject to such
terms, conditions, performance criteria and restrictions as shall be determined by the Board and set forth in the Award Agreement evidencing
such Option; provided, however, that (a) no Option shall be exercisable after the expiration of ten (10) years after the effective
date of grant of such Option, (b) no Incentive Stock Option granted to a Ten Percent Stockholder shall be exercisable after the expiration
of five (5) years after the effective date of grant of such Option, and (c) no Option granted to an Employee who is a non-exempt
employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be first exercisable until at least six (6) months
following the date of grant of such Option (except in the event of such Employee’s death, disability or retirement, upon a Change
in Control, or as otherwise permitted by the Worker Economic Opportunity Act). Subject to the foregoing, unless otherwise specified by
the Board in the grant of an Option, each Option shall terminate ten (10) years after the effective date of grant of the Option,
unless earlier terminated in accordance with its provisions.

 

6.3           Payment
of Exercise Price.

 

(a)           Forms
of Consideration Authorized. Except as otherwise provided below, payment of the exercise price for the number of shares of Stock
being purchased pursuant to any Option shall be made (i) in cash, by check or in cash equivalent, (ii) if permitted by the
Company and subject to the limitations contained in Section 6.3(b), by means of (1) a Stock Tender Exercise, (2) a Cashless
Exercise or (3) a Net Exercise; (iii) by such other consideration as may be approved by the Board from time to time to the
extent permitted by applicable law, or (iv) by any combination thereof. The Board may at any time or from time to time grant Options
which do not permit all of the foregoing forms of consideration to be used in payment of the exercise price or which otherwise restrict
one or more forms of consideration.

 

(b)           Limitations
on Forms of Consideration.

 

(i)            Stock
Tender Exercise. A “Stock Tender Exercise” means the delivery of a properly executed exercise notice accompanied
by a Participant’s tender to the Company, or attestation to the ownership, in a form acceptable to the Company of whole shares
of Stock owned by the Participant having a Fair Market Value that does not exceed the aggregate exercise price for the shares with respect
to which the Option is exercised. A Stock Tender Exercise shall not be permitted if it would constitute a violation of the provisions
of any law, regulation or agreement restricting the redemption of the Company’s stock. If required by the Company, an Option may
not be exercised by tender to the Company, or attestation to the ownership, of shares of Stock unless such shares either have been owned
by the Participant for a period of time required by the Company (and not used for another option exercise by attestation during such
period) or were not acquired, directly or indirectly, from the Company.

 

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(ii)           Cashless
Exercise. A Cashless Exercise shall be permitted only upon the class of shares subject to the Option becoming publicly traded in
an established securities market. A “Cashless Exercise” means the delivery of a properly executed exercise notice
together with irrevocable instructions to a broker providing for the assignment to the Company of the proceeds of a sale or loan with
respect to some or all of the shares being acquired upon the exercise of the Option (including, without limitation, through an exercise
complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve
System). The Company reserves, at any and all times, the right, in the Company’s sole and absolute discretion, to establish, decline
to approve or terminate any program or procedures for the exercise of Options by means of a Cashless Exercise, including with respect
to one or more Participants specified by the Company notwithstanding that such program or procedures may be available to other Participants.

 

(iii)          Net
Exercise. A “Net Exercise” means the delivery of a properly executed exercise notice followed by a procedure pursuant
to which (1) the Company will reduce the number of shares otherwise issuable to a Participant upon the exercise of an Option by
the largest whole number of shares having a Fair Market Value that does not exceed the aggregate exercise price for the shares with respect
to which the Option is exercised, and (2) the Participant shall pay to the Company in cash the remaining balance of such aggregate
exercise price not satisfied by such reduction in the number of whole shares to be issued.

 

6.4           Effect
of Termination of Service.

 

(a)           Option
Exercisability. Subject to earlier termination of the Option as otherwise provided by this Plan and unless a longer exercise
period is provided by the Board, an Option shall terminate immediately upon the Participant’s termination of Service to the extent
that it is then unvested and shall be exercisable after the Participant’s termination of Service to the extent it is then vested
only during the applicable time period determined in accordance with this Section and thereafter shall terminate:

 

(i)            Disability.
If the Participant’s Service terminates because of the Disability of the Participant, the Option, to the extent unexercised and
exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised by the Participant (or
the Participant’s guardian or legal representative) at any time prior to the expiration twelve (12) months (or such longer or shorter
period (but not less than six (6) months) provided by the Award Agreement) after the date on which the Participant’s Service
terminated, but in any event no later than the date of expiration of the Option’s term as set forth in the Award Agreement evidencing
such Option (the “Option Expiration Date”).

 

(ii)           Death.
If the Participant’s Service terminates because of the death of the Participant, the Option, to the extent unexercised and exercisable
for vested shares on the date on which the Participant’s Service terminated, may be exercised by the Participant’s legal representative
or other person who acquired the right to exercise the Option by reason of the Participant’s death at any time prior to the expiration
of twelve (12) months (or such longer or shorter period (but not less than six (6) months) provided by the Award Agreement) after
the date on which the Participant’s Service terminated, but in any event no later than the Option Expiration Date. The Participant’s
Service shall be deemed to have terminated on account of death if the Participant dies within thirty (30) days (or such longer period
provided by the Board) after the Participant’s termination of Service.

 

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(iii)          Termination
for Cause. Notwithstanding any other provision of the Plan to the contrary, if the Participant’s Service is terminated for Cause,
the Option shall terminate in its entirety and cease to be exercisable immediately upon such termination of Service.

 

(iv)          Other
Termination of Service. If the Participant’s Service terminates for any reason, except Disability, death or Cause, the Option,
to the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised
by the Participant at any time prior to the expiration of three (3) months (or such longer or shorter period (but not less than
thirty (30) days) provided by the Award Agreement) after the date on which the Participant’s Service terminated, but in any event
no later than the Option Expiration Date.

 

(b)           Extension
if Exercise Prevented by Law. Notwithstanding the foregoing other than termination of Service for Cause, if the exercise of
an Option within the applicable time periods set forth in Section 6.4(a) is prevented by the provisions of Section 14
below, the Option shall remain exercisable until the later of (i) thirty (30) days after the date such exercise first would no longer
be prevented by such provisions or (ii) the end of the applicable time period under Section 6.4(a), but in any event no later
than the Option Expiration Date.

 

6.5           Transferability
of Options. During the lifetime of the Participant, an Option shall be exercisable only by the Participant or the Participant’s
guardian or legal representative. An Option shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer,
assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer
by will or by the laws of descent and distribution; provided, however, that to the extent permitted by the Board, in its discretion,
and set forth in the Award Agreement evidencing such Option, an Option shall be assignable or transferable subject to the applicable
limitations, if any, described in Rule 701 under the Securities Act and the General Instructions to Form S-8 Registration Statement
under the Securities Act or, in the case of an Incentive Stock Option, only as permitted by applicable regulations under Section 421
of the Code in a manner that does not disqualify such Option as an Incentive Stock Option. Notwithstanding the foregoing, for so long
as the Company is relying on the exemption provided by Rule 12h-1(f) under the Exchange Act, no Option or, prior to its exercise,
the shares to be issued upon the exercise of the Option, shall be transferred except in compliance with the restrictions on transfer
under Rule 12h-1(f) (including the requirement under such rule that any permitted transferee may not further transfer
the Option) or be made subject to any short position, “put equivalent position” or “call equivalent position”
by the Participant, as such terms are defined in Rule 16a-1 of the Exchange Act.

 

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7.             Restricted
Stock Awards.

 

Restricted Stock Awards shall
be evidenced by Award Agreements specifying whether the Award is a Restricted Stock Bonus or a Restricted Stock Purchase Right and the
number of shares of Stock subject to the Award, in such form as the Board shall establish. Such Award Agreements may incorporate all or
any of the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions:

 

7.1           Types
of Restricted Stock Awards Authorized. Restricted Stock Awards may be granted in the form of either a Restricted Stock Bonus or a
Restricted Stock Purchase Right. Restricted Stock Awards may be granted upon such conditions as the Board shall determine, including,
without limitation, upon the attainment of one or more performance goals.

 

7.2           Purchase
Price. The purchase price for shares of Stock issuable under each Restricted Stock Purchase Right shall be established by the Board
in its discretion. No monetary payment (other than applicable tax withholding) shall be required as a condition of receiving shares of
Stock pursuant to a Restricted Stock Bonus, the consideration for which shall be services actually rendered to a Participating Company
or for its benefit. Notwithstanding the foregoing, if required by applicable state corporate law, the Participant shall furnish consideration
in the form of cash or past services rendered to a Participating Company or for its benefit having a value not less than the par value
of the shares of Stock subject to a Restricted Stock Award.

 

7.3           Purchase
Period. A Restricted Stock Purchase Right shall be exercisable within a period established by the Board, which shall in no event exceed
ninety (90) days from the effective date of the grant of the Restricted Stock Purchase Right.

 

7.4           Payment
of Purchase Price. Except as otherwise provided below, payment of the purchase price for the number of shares of Stock being purchased
pursuant to any Restricted Stock Purchase Right shall be made (a) in cash, by check or in cash equivalent, (b) by such other
consideration as may be approved by the Board from time to time to the extent permitted by applicable law, or (c) by any combination
thereof.

 

7.5           Vesting
and Restrictions on Transfer. Shares issued pursuant to any Restricted Stock Award may (but need not) be made subject to Vesting
Conditions based upon the satisfaction of such Service requirements, conditions, restrictions or performance criteria, as shall be established
by the Board and set forth in the Award Agreement evidencing such Award. During any period in which shares acquired pursuant to a Restricted
Stock Award remain subject to Vesting Conditions, such shares may not be sold, exchanged, transferred, pledged, assigned or otherwise
disposed of other than pursuant to an Ownership Change Event or as provided in Section 7.8. The Board, in its discretion, may provide
in any Award Agreement evidencing a Restricted Stock Award that, if the satisfaction of Vesting Conditions with respect to any shares
subject to such Restricted Stock Award would otherwise occur on a day on which the sale of such shares would violate the provisions of
the Trading Compliance Policy, then satisfaction of the Vesting Conditions automatically shall be determined on the next trading day
on which the sale of such shares would not violate the Trading Compliance Policy. Upon request by the Company, each Participant shall
execute any agreement evidencing such transfer restrictions prior to the receipt of shares of Stock hereunder and shall promptly present
to the Company any and all certificates representing shares of Stock acquired hereunder for the placement on such certificates of appropriate
legends evidencing any such transfer restrictions.

 

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7.6           Voting
Rights; Dividends and Distributions. Except as provided in this Section, Section 7.5 and any Award Agreement, during any period
in which shares acquired pursuant to a Restricted Stock Award remain subject to Vesting Conditions, the Participant shall have all of
the rights of a stockholder of the Company holding shares of Stock, including the right to vote such shares and to receive all dividends
and other distributions paid with respect to such shares; provided, however, that if so determined by the Board and provided by the Award
Agreement, such dividends and distributions shall be subject to the same Vesting Conditions as the shares subject to the Restricted Stock
Award with respect to which such dividends or distributions were paid, and otherwise shall be paid no later than the end of the calendar
year in which such dividends or distributions are paid to stockholders (or, if later, the 15th day of the third month following the date
such dividends or distributions are paid to stockholders). In the event of a dividend or distribution paid in shares of Stock or other
property or any other adjustment made upon a change in the capital structure of the Company as described in Section 4.3, any and
all new, substituted or additional securities or other property (other than regular, periodic cash dividends) to which the Participant
is entitled by reason of the Participant’s Restricted Stock Award shall be immediately subject to the same Vesting Conditions as
the shares subject to the Restricted Stock Award with respect to which such dividends or distributions were paid or adjustments were
made.

 

7.7           Effect
of Termination of Service. Unless otherwise provided by the Board in the Award Agreement evidencing a Restricted Stock Award, if
a Participant’s Service terminates for any reason, whether voluntary or involuntary (including the Participant’s death or
disability), then (a) the Company shall have the option to repurchase for the purchase price paid by the Participant any shares
acquired by the Participant pursuant to a Restricted Stock Purchase Right which remain subject to Vesting Conditions as of the date of
the Participant’s termination of Service and (b) the Participant shall forfeit to the Company any shares acquired by the Participant
pursuant to a Restricted Stock Bonus which remain subject to Vesting Conditions as of the date of the Participant’s termination
of Service. The Company shall have the right to assign at any time any repurchase right it may have, whether or not such right is then
exercisable, to one or more persons as may be selected by the Company.

 

7.8           Nontransferability
of Restricted Stock Award Rights. Rights to acquire shares of Stock pursuant to a Restricted Stock Award shall not be subject in any
manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance or garnishment by creditors of the Participant
or the Participant’s beneficiary, except transfer by will or the laws of descent and distribution. All rights with respect to a
Restricted Stock Award granted to a Participant hereunder shall be exercisable during his or her lifetime only by such Participant or
the Participant’s guardian or legal representative.

 

8.             Restricted
Stock Unit Awards.

 

Restricted Stock Unit Awards
shall be evidenced by Award Agreements specifying the number of Restricted Stock Units subject to the Award, in such form as the Board
shall establish. Award Agreements evidencing Restricted Stock Units may incorporate all or any of the terms of the Plan by reference and
shall comply with and be subject to the following terms and conditions:

 

8.1           Grant
of Restricted Stock Unit Awards. Restricted Stock Unit Awards may be granted upon such conditions as the Board shall determine, including,
without limitation, upon the attainment of one or more performance goals established by the Board.

 

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8.2           Purchase
Price. No monetary payment (other than applicable tax withholding, if any) shall be required as a condition of receiving a Restricted
Stock Unit Award, the consideration for which shall be services actually rendered to a Participating Company or for its benefit. Notwithstanding
the foregoing, if required by applicable state corporate law, the Participant shall furnish consideration in the form of cash or past
services rendered to a Participating Company or for its benefit having a value not less than the par value of the shares of Stock issued
upon settlement of the Restricted Stock Unit Award.

 

8.3           Vesting.
Restricted Stock Unit Awards may (but need not) be made subject to Vesting Conditions based upon the satisfaction of such Service
requirements, conditions, restrictions or performance criteria as shall be established by the Board and set forth in the Award Agreement
evidencing such Award.

 

8.4           Voting
Rights and Distributions. Participants shall have no voting or dividend rights with respect to shares of Stock represented by Restricted
Stock Units until the date of the issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of a
duly authorized transfer agent of the Company). In the event of a dividend or distribution paid in shares of Stock or other property
or any other adjustment made upon a change in the capital structure of the Company as described in Section 4.3, appropriate adjustments
shall be made in the Participant’s Restricted Stock Unit Award so that it represents the right to receive upon settlement any and
all new, substituted or additional securities or other property (other than regular, periodic cash dividends) to which the Participant
would be entitled by reason of the shares of Stock issuable upon settlement of the Award, and all such new, substituted or additional
securities or other property shall be immediately subject to the same Vesting Conditions as are applicable to the Award.

 

8.5           Effect
of Termination of Service. Unless otherwise provided by the Board and set forth in the Award Agreement evidencing a Restricted Stock
Unit Award, if a Participant’s Service terminates for any reason, whether voluntary or involuntary (including the Participant’s
death or disability), then the Participant shall forfeit to the Company any Restricted Stock Units pursuant to the Award which remain
subject to Vesting Conditions as of the date of the Participant’s termination of Service.

 

8.6           Settlement
of Restricted Stock Unit Awards. The Company shall issue to a Participant on the date on which Restricted Stock Units subject to
the Participant’s Restricted Stock Unit Award vest or on such other date determined by the Board in compliance with Section 409A,
if applicable, and set forth in the Award Agreement one (1) share of Stock (and/or any other new, substituted or additional securities
or other property pursuant to an adjustment described in Section 8.4) for each Restricted Stock Unit then becoming vested or otherwise
to be settled on such date, subject to the withholding of applicable taxes, if any. The Board, in its discretion, may provide in any
Award Agreement evidencing a Restricted Stock Unit Award that if the settlement date with respect to any shares issuable upon vesting
of Restricted Stock Units would otherwise occur on a day on which the sale of such shares would violate the provisions of the Trading
Compliance Policy, then the settlement date shall be deferred until the next trading day on which the sale of such shares would not violate
the Trading Compliance Policy but in any event no later than the 15th day of the third calendar month following the year in
which such Restricted Stock Units vest. If permitted by the Board, the Participant may elect, consistent with the requirements of Section 409A,
to defer receipt of all or any portion of the shares of Stock or other property otherwise issuable to the Participant pursuant to this
Section, and such deferred issuance date(s) and amount(s) elected by the Participant shall be set forth in the Award Agreement.
Notwithstanding the foregoing, the Board, in its discretion, may provide for settlement of any Restricted Stock Unit Award by payment
to the Participant in cash of an amount equal to the Fair Market Value on the payment date of the shares of Stock or other property otherwise
issuable to the Participant pursuant to this Section.

 

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8.7           Nontransferability
of Restricted Stock Unit Awards. The right to receive shares pursuant to a Restricted Stock Unit Award shall not be subject in any
manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant
or the Participant’s beneficiary, except transfer by will or by the laws of descent and distribution. All rights with respect to
a Restricted Stock Unit Award granted to a Participant hereunder shall be exercisable during his or her lifetime only by such Participant
or the Participant’s guardian or legal representative.

 

9.             Standard
Forms of Award Agreements.

 

9.1           Award
Agreements. Each Award shall comply with and be subject to the terms and conditions set forth in the appropriate form of Award
Agreement approved by the Board and as amended from time to time. No Award or purported Award shall be a valid and binding obligation
of the Company unless evidenced by a fully executed Award Agreement, which execution may be evidenced by electronic means.

 

9.2           Authority
to Vary Terms. The Board shall have the authority from time to time to vary the terms of any standard form of Award Agreement
either in connection with the grant or amendment of an individual Award or in connection with the authorization of a new standard form
or forms; provided, however, that the terms and conditions of any such new, revised or amended standard form or forms of Award Agreement
are not inconsistent with the terms of the Plan.

 

10.           Change
in Control.

 

10.1         Effect
of Change in Control on Awards. Subject to the requirements and limitations of Section 409A, if applicable, the Board
may provide for any one or more of the following:

 

(a)           Accelerated
Vesting. In its discretion, the Board may provide in the grant of any Award or at any other time may take action it deems appropriate
to provide for acceleration of the exercisability, vesting and/or settlement in connection with a Change in Control of each or any outstanding
Award or portion thereof and shares acquired pursuant thereto upon such conditions, including termination of the Participant’s
Service prior to, upon, or following the Change in Control, and to such extent as the Board determines.

 

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(b)           Assumption,
Continuation or Substitution of Awards. In the event of a Change in Control, the surviving, continuing, successor, or purchasing
corporation or other business entity or parent thereof, as the case may be (the “Acquiror”), may, without the consent
of any Participant, assume or continue the Company’s rights and obligations under each or any Award or portion thereof outstanding
immediately prior to the Change in Control or substitute for each or any such outstanding Award or portion thereof a substantially equivalent
award with respect to the Acquiror’s stock. For purposes of this Section, if so determined by the Board, in its discretion, an
Award or any portion thereof shall be deemed assumed if, following the Change in Control, the Award confers the right to receive, subject
to the terms and conditions of the Plan and the applicable Award Agreement, for each share of Stock subject to such portion of the Award
immediately prior to the Change in Control, the consideration (whether stock, cash, other securities or property or a combination thereof)
to which a holder of a share of Stock on the effective date of the Change in Control was entitled (and if holders were offered a choice
of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Stock); provided, however,
that if such consideration is not solely common stock of the Acquiror, the Board may, with the consent of the Acquiror, provide for the
consideration to be received upon the exercise or settlement of the Award, for each share of Stock subject to the Award, solely common
stock of the Acquiror equal in Fair Market Value to the per share consideration received by holders of Stock pursuant to the Change in
Control. If any portion of such consideration may be received by holders of Stock pursuant to the Change in Control on a contingent or
delayed basis, the Board may, in its discretion, determine such Fair Market Value per share as of the time of the Change in Control on
the basis of the Board’s good faith estimate of the present value of the probable future payment of such consideration. Any Award
or portion thereof which is neither assumed or continued by the Acquiror in connection with the Change in Control nor exercised as of
the time of consummation of the Change in Control shall terminate and cease to be outstanding effective as of the time of consummation
of the Change in Control. Notwithstanding the foregoing, shares acquired upon exercise of an Award prior to the Change in Control and
any consideration received pursuant to the Change in Control with respect to such shares shall continue to be subject to all applicable
provisions of the Award Agreement evidencing such Award except as otherwise provided in such Award Agreement.

 

(c)           Cash-Out
of Outstanding Awards. The Board may, in its discretion and without the consent of any Participant, determine that, upon the occurrence
of a Change in Control, each or any Award or portion thereof outstanding immediately prior to the Change in Control and not previously
exercised or settled shall be canceled in exchange for a payment with respect to each vested share (and each unvested share, if so determined
by the Board) of Stock subject to such canceled Award in (i) cash, (ii) stock of the Company or of a corporation or other business
entity a party to the Change in Control, or (iii) other property which, in any such case, shall be in an amount having a Fair Market
Value equal to the Fair Market Value of the consideration to be paid per share of Stock in the Change in Control, reduced (but not below
zero) by the exercise or purchase price per share, if any, under such Award. If any portion of such consideration may be received by
holders of Stock pursuant to the Change in Control on a contingent or delayed basis, the Board may, in its sole discretion, determine
such Fair Market Value per share as of the time of the Change in Control on the basis of the Board’s good faith estimate of the
present value of the probable amount of future payment of such consideration. In the event such determination is made by the Board, an
Award having an exercise or purchase price per share equal to or greater than the Fair Market Value of the consideration to be paid per
share of Stock in the Change in Control may be canceled without payment of consideration to the holder thereof. Payment pursuant to this
Section (reduced by applicable withholding taxes, if any) shall be made to Participants in respect of the vested portions of their
canceled Awards as soon as practicable following the date of the Change in Control and in respect of the unvested portions of their canceled
Awards in accordance with the vesting schedules applicable to such Awards.

 

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10.2         Federal
Excise Tax Under Section 4999 of the Code.

 

(a)           Excess
Parachute Payment. If any acceleration of vesting pursuant to an Award and any other payment or benefit received or to be received
by a Participant would subject the Participant to any excise tax pursuant to Section 4999 of the Code due to the characterization
of such acceleration of vesting, payment or benefit as an “excess parachute payment” under Section 280G of the Code,
then, provided such election would not subject the Participant to taxation under Section 409A, the Participant may elect to reduce
the amount of any acceleration of vesting called for under the Award in order to avoid such characterization.

 

(b)           Determination
by Tax Firm. To aid the Participant in making any election called for under Section 10.2(a), no later than the date of the occurrence
of any event that might reasonably be anticipated to result in an “excess parachute payment” to the Participant as described
in Section 10.2(a), the Company shall request a determination in writing by the professional firm engaged by the Company for general
tax purposes, or, if the tax firm so engaged by the Company is serving as accountant or auditor for the Acquiror, the Company will appoint
a nationally recognized tax firm to make the determinations required by this Section. (the “Tax Firm”). As soon as
practicable thereafter, the Tax Firm shall determine and report to the Company and the Participant the amount of such acceleration of
vesting, payments and benefits which would produce the greatest after-tax benefit to the Participant. For the purposes of such determination,
the Tax Firm may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The
Company and the Participant shall furnish to the Tax Firm such information and documents as the Tax Firm may reasonably request in order
to make its required determination. The Company shall bear all fees and expenses the Tax Firm may charge in connection with its services
contemplated by this Section.

 

11.           Drag
Along Rights.

 

11.1         Applicable
Shares. The Participant agrees that any shares acquired upon exercise of the Option, including all shares issued in respect of any
shares acquired upon exercise of the Option by way of stock split, stock dividend and the like (the “Applicable Shares”)
will be subject to, and must be voted in accordance with, the provisions of this Section 11.

 

11.2         Obligations
of Participant. In the event that the Board approves and recommends an Ownership Change Event, the Participant hereby agrees to:

 

(a)           consent
to, vote all Applicable Shares for and raise no objections to, the Ownership Change Event;

 

(b)           sell
all Applicable Shares on the terms and conditions approved by the Board, provided that such terms do not provide that the Participant
would receive less than the amount that would be distributed to such Participant in the event the proceeds of the Ownership Change Event
were distributed in accordance with the Company’s Certificate of Incorporation then in effect; and

 

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(c)           to
take all necessary and desirable actions in connection with the consummation of the Ownership Change Event, including the execution of
such agreements and such instruments and other actions reasonably necessary to provide the representations, warranties, indemnities, covenants,
conditions, non-compete agreements, escrow agreements and other provisions and agreements relating to the Ownership Change.

 

11.3         Transfer
of Applicable Shares. This Section 11 shall be binding upon the successors in interest to any of the Applicable Shares. The
Company shall not register the transfer of any of the Applicable Shares or issue a new certificate representing any of the Applicable
Shares unless and until the transferee shall have executed an adoption agreement, pursuant to which such person agrees to be bound by
the terms of this Section 11 as and to the same extent as if he, she or it were an original party hereto. Any transfer of shares
in contravention of the foregoing shall be void ab initio.

 

11.4         Irrevocable
Proxy. To insure the performance of the Participant with the provisions set forth in this Section 11, the Participant hereby
appoints the Company, or its designee, as his, her, or its true and lawful proxy and attorney-in-fact, with full power of substitution
and resubstitution, to vote all Applicable Shares owned or held by such Participant, subject to the provisions of this Section 11,
upon any matter presented to the stockholders of the Company, if (and only if) such Participant fails to comply with the provisions of
this Section 11. The proxies and powers granted by the Participant pursuant to the preceding sentence are coupled with an interest
and are given to secure the performance of such Participant’s commitments under this Section 11. Such proxies shall be irrevocable
for the term of this Section 11 and shall survive the death, incompetency, disability, dissolution or winding up of such Participant.

 

11.5         Specific
Enforcement. It is agreed and understood that monetary damages would not adequately compensate the Company for the breach of this
Section 11 by the Participant, that this Section 11 shall be specifically enforceable, and that any breach or threatened breach
of this Section 11 shall be the proper subject of a temporary or permanent injunction or restraining order. Further, the Participant
waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach.

 

12.           Tax
Withholding.

 

12.1         Tax
Withholding in General. The Company shall have the right to deduct from any and all payments made under the Plan, or to require the
Participant, through payroll withholding, cash payment or otherwise, to make adequate provision for, the federal, state, local and foreign
taxes (including social insurance), if any, required by law to be withheld by any Participating Company with respect to an Award or the
shares acquired pursuant thereto. The Company shall have no obligation to deliver shares of Stock, to release shares of Stock from an
escrow established pursuant to an Award Agreement, or to make any payment in cash under the Plan until the Participating Company Group’s
tax withholding obligations have been satisfied by the Participant.

 

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12.2         Withholding
in or Directed Sale of Shares. The Company shall have the right, but not the obligation, to deduct from the shares of Stock issuable
to a Participant upon the exercise, vesting or settlement of an Award, or to accept from the Participant the tender of, a number of whole
shares of Stock having a Fair Market Value, as determined by the Company, equal to all or any part of the tax withholding obligations
of any Participating Company. The Fair Market Value of any shares of Stock withheld or tendered to satisfy any such tax withholding obligations
shall not exceed the amount determined by the applicable minimum statutory withholding rates. The Company may require a Participant to
direct a broker, upon the vesting, exercise or settlement of an Award, to sell a portion of the shares subject to the Award determined
by the Company in its discretion to be sufficient to cover the tax withholding obligations of any Participating Company and to remit an
amount equal to such tax withholding obligations to the Participating Company in cash.

 

13.           Compliance
with Section 409A.

 

13.1         In
General. The Plan and all Awards granted hereunder are intended to comply with, or otherwise be exempt from, Section 409A. The
Plan and all Awards granted under the Plan shall be administered, interpreted, and construed in a manner consistent with Section 409A,
as determined by the Company in good faith, to the extent necessary to avoid the imposition of additional taxes under Section 409A(a)(1)(B) of
the Code. It is intended that any election, payment or benefit which is made or provided pursuant to or in connection with any Award
that may result in deferred compensation within the meaning of Section 409A shall comply in all respects with the applicable requirements
of Section 409A.

 

13.2         Certain
Limitations. With respect to any Award that is subject to Section 409A, the following shall apply, as applicable:

 

(a)           Notwithstanding
anything to the contrary in the Plan or any Award Agreement, to the extent required to avoid tax penalties under Section 409A, amounts
that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan on account of, and during the six (6) month
period immediately following, the Participant’s termination of Service shall instead be paid on the first payroll date after the
six-month anniversary of the Participant’s separation from service (or the Participant’s death, if earlier).

 

(b)           Neither
any Participant nor the Company shall take any action to accelerate or delay the payment of any amount or benefits under an Award in
any manner which would not be in compliance with Section 409A.

 

(c)           Notwithstanding
anything to the contrary in the Plan or any Award Agreement, to the extent that any amount constituting deferred compensation subject
to Section 409A would become payable under the Plan by reason of a Change in Control, such amount shall become payable only if the
event constituting the Change in Control would also constitute a change in ownership or effective control of the Company or a change in
the ownership of a substantial portion of the assets of the Company within the meaning of Section 409A. Any Award which constitutes
deferred compensation subject to Section 409A and which would vest and otherwise become payable upon a Change in Control as a result
of the failure of the Acquiror to assume, continue or substitute for such Award in accordance with Section 10.1(b) shall vest
to the extent provided by such Award but shall be converted automatically at the effective time of such Change in Control into a right
to receive, in cash on the date or dates such award would have been settled in accordance with its then existing settlement schedule,
an amount or amounts equal in the aggregate to the intrinsic value of the Award at the time of the Change in Control.

 

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(d)           Should
any provision of the Plan, any Award Agreement, or any other agreement or arrangement contemplated by the Plan be found not to comply
with, or otherwise be exempt from, the provisions of Section 409A, such provision shall be modified and given effect (retroactively
if necessary), in the sole discretion of the Board, and without the consent of the holder of the Award, in such manner as the Board determines
to be necessary or appropriate to comply with, or to effectuate an exemption from, Section 409A.

 

(e)           Notwithstanding
the foregoing, neither the Company nor the Board shall have any obligation to take any action to prevent the assessment of any tax or
penalty on any Participant under Section 409A, and neither the Company nor the Board will have any liability to any Participant
for such tax or penalty.

 

14.           Compliance
with Securities Law.

 

The grant of Awards and the
issuance of shares of Stock pursuant to any Award shall be subject to compliance with all applicable requirements of federal, state and
foreign law with respect to such securities and the requirements of any stock exchange or market system upon which the Stock may then
be listed. In addition, no Award may be exercised or shares issued pursuant to an Award unless (a) a registration statement under
the Securities Act shall at the time of such exercise or issuance be in effect with respect to the shares issuable pursuant to the Award
or (b) in the opinion of legal counsel to the Company, the shares issuable pursuant to the Award may be issued in accordance with
the terms of an applicable exemption from the registration requirements of the Securities Act. Except as otherwise determined by the Board,
the Company intends that securities issued pursuant to the Plan be exempt from requirements of registration and qualification of such
securities pursuant the exemptions afforded by Rule 701 promulgated under the Securities Act or any other applicable exemptions,
and the Plan shall be so construed. The inability of the Company to obtain from any regulatory body having jurisdiction the authority,
if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance and sale of any shares hereunder shall relieve
the Company of any liability in respect of the failure to issue or sell such shares as to which such requisite authority shall not have
been obtained. As a condition to issuance of any Stock, the Company may require the Participant to satisfy any qualifications that may
be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with
respect thereto as may be requested by the Company.

 

    22

     

    

 

15.           Amendment
or Termination of Plan.

 

The Board may amend, suspend
or terminate the Plan at any time. However, without the approval of the Company’s stockholders, there shall be (a) no increase
in the maximum aggregate number of shares of Stock that may be issued under the Plan (except by operation of the provisions of Sections 4.2
and 4.3), (b) no change in the class of persons eligible to receive Incentive Stock Options, and (c) no other amendment of the
Plan that would require approval of the Company’s stockholders under any applicable law, regulation or rule, including the rules of
any stock exchange or quotation system upon which the Stock may then be listed or quoted. No amendment, suspension or termination of the
Plan shall affect any then outstanding Award unless expressly provided by the Board. Except as provided by the next sentence, no amendment,
suspension or termination of the Plan may have a materially adverse effect on any then outstanding Award without the consent of the Participant,
provided, however, that an amendment that would change the treatment of an Award under the Code from an Incentive Stock Option to a Nonstatutory
Stock Option shall not be considered an adverse effect under any circumstances. Notwithstanding any other provision of the Plan or any
Award Agreement to the contrary, the Board may, in its sole and absolute discretion and without the consent of any Participant, amend
the Plan or any Award Agreement, to take effect retroactively or otherwise, as it deems necessary or advisable for the purpose of conforming
the Plan or such Award Agreement to any present or future law, regulation or rule applicable to the Plan, including, but not limited
to, Section 409A.

 

16.           Miscellaneous
Provisions.

 

16.1         Restrictions
on Transfer of Shares.

 

(a)           Shares
issued under the Plan may be subject to a right of first refusal, one or more repurchase options, or other conditions and restrictions
as determined by the Board in its discretion at the time the Award is granted. The Company shall have the right to assign at any time
any repurchase right it may have, whether or not such right is then exercisable, to one or more persons as may be selected by the Company.
Upon request by the Company, each Participant shall execute any agreement evidencing such transfer restrictions prior to the receipt
of shares of Stock hereunder and shall promptly present to the Company any and all certificates representing shares of Stock acquired
hereunder for the placement on such certificates of appropriate legends evidencing any such transfer restrictions.

 

(b)           Notwithstanding
the provisions of any Award Agreement to the contrary, at any time prior to the date on which the Stock is listed on a national securities
exchange (as such term is used in the Exchange Act) or is traded on the over-the-counter market and prices therefore are published daily
on business days in a recognized financial journal, the Board may prohibit any Participant who acquires shares of Stock pursuant to the
Plan or any transferee of such Participant from selling, transferring, assigning, pledging, or otherwise disposing of or encumbering
any such shares (each, a “Transfer”) without the prior written consent of the Board. The Board may withhold consent
to any Transfer for any reason, including without limitation any Transfer (i) to any individual or entity identified by the Company
as a potential competitor or considered by the Company to be unfriendly, or (ii) if such Transfer increases the risk of the Company
having a class of security held of record by such number of persons as would require the Company to register any class of securities
under the Exchange Act; or (iii) if such Transfer would result in the loss of any federal or state securities law exemption relied
upon by the Company in connection with the initial issuance of such shares or the issuance of any other securities; or (iv) if such
Transfer is facilitated in any manner by any public posting, message board, trading portal, Internet site, or similar method of
communication, including without limitation any trading portal or Internet site intended to facilitate secondary transfers of securities;
or (v) if such Transfer is to be effected in a brokered transaction; or (vi) if such Transfer would be of less than all of
the shares of Stock then held by the stockholder and its affiliates or is to be made to more than a single transferee.

 

    23

     

    

 

16.2         Forfeiture
Events. The Board may determine that the Participant’s rights, payments, and benefits with respect to an Award shall be subject
to reduction, cancellation, forfeiture, or recoupment upon the occurrence of specified events, in addition to any otherwise applicable
vesting or performance conditions of an Award. Such events may include, but shall not be limited to, termination of Service for Cause,
any act by a Participant, whether before or after termination of Service, that would constitute Cause for termination of Service, or any
accounting restatement due to material noncompliance of the Company with any financial reporting requirements of securities laws as a
result of which, and to the extent that, such reduction, cancellation, forfeiture, or recoupment is required by applicable securities
laws.

 

16.3         Provision
of Information. At least annually, copies of the Company’s balance sheet and income statement for the just completed fiscal
year shall be made available to each Participant and purchaser of shares of Stock upon the exercise of an Award; provided, however, that
this requirement shall not apply if all offers and sales of securities pursuant to the Plan comply with all applicable conditions of
Rule 701 under the Securities Act. The Company shall not be required to provide such information to key persons whose duties in
connection with the Company assure them access to equivalent information. The Company shall deliver to each Participant such disclosures
as are required in accordance with Rule 701 under the Securities Act. Notwithstanding the foregoing, at any time the Company is
relying on the exemption provided by Rule 12h-1(f) under the Exchange Act, the Company shall provide to the applicable Participants
the information described in Securities Act Rules 701(e)(3), (4) and (5) by a method allowed under Rule 12h-1(f)(1)(vi) and
in accordance with the requirements of Rule 12h-1(f)(1)(vi), provided that the Participant agrees to keep the information confidential
until the Company becomes subject to the reporting requirements of Section 13 or Section 15(d) of the Exchange Act.

 

16.4         Rights
as Employee, Consultant or Director. No person, even though eligible pursuant to Section 5, shall have a right to be selected
as a Participant, or, having been so selected, to be selected again as a Participant. Nothing in the Plan or any Award granted under the
Plan shall confer on any Participant a right to remain an Employee, Consultant or Director or interfere with or limit in any way any right
of a Participating Company to terminate the Participant’s Service at any time. To the extent that an Employee of a Participating
Company other than the Company receives an Award under the Plan, that Award shall in no event be understood or interpreted to mean that
the Company is the Employee’s employer or that the Employee has an employment relationship with the Company.

 

16.5         Rights
as a Stockholder. A Participant shall have no rights as a stockholder with respect to any shares covered by an Award until the date
of the issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent
of the Company). No adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the date
such shares are issued, except as provided in Section 4.3 or another provision of the Plan.

 

    24

     

    

 

16.6         Delivery
of Title to Shares. Subject to any governing rules or regulations, the Company shall issue or cause to be issued the shares
of Stock acquired pursuant to an Award and shall deliver such shares to or for the benefit of the Participant by means of one or more
of the following: (a) by delivering to the Participant evidence of book entry shares of Stock credited to the account of the Participant,
(b) by depositing such shares of Stock for the benefit of the Participant with any broker with which the Participant has an account
relationship, or (c) by delivering such shares of Stock to the Participant in certificate form.

 

16.7         Fractional
Shares. The Company shall not be required to issue fractional shares upon the exercise or settlement of any Award.

 

16.8         Retirement
and Welfare Plans. Neither Awards made under this Plan nor shares of Stock or cash paid pursuant to such Awards may be included as
 “compensation” for purposes of computing the benefits payable to any Participant under any Participating Company’s
retirement plans (both qualified and non-qualified) or welfare benefit plans unless such other plan expressly provides that such compensation
shall be taken into account in computing a Participant’s benefits.

 

16.9         Severability.
If any one or more of the provisions (or any part thereof) of this Plan shall be held invalid, illegal or unenforceable in any respect,
such provision shall be modified so as to make it valid, legal and enforceable, and the validity, legality and enforceability of the remaining
provisions (or any part thereof) of the Plan shall not in any way be affected or impaired thereby.

 

16.10       No
Constraint on Corporate Action. Nothing in this Plan shall be construed to: (a) limit, impair, or otherwise affect the Company’s
or another Participating Company’s right or power to make adjustments, reclassifications, reorganizations, or changes of its capital
or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or assets;
or (b) limit the right or power of the Company or another Participating Company to take any action which such entity deems to be
necessary or appropriate.

 

16.11       Unfunded
Obligation. Participants shall have the status of general unsecured creditors of the Company. Any amounts payable to Participants
pursuant to the Plan shall be considered unfunded and unsecured obligations for all purposes, including, without limitation, Title I
of the Employee Retirement Income Security Act of 1974. No Participating Company shall be required to segregate any monies from its general
funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times
beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder.
Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary
relationship between the Board or any Participating Company and a Participant, or otherwise create any vested or beneficial interest
in any Participant or the Participant’s creditors in any assets of any Participating Company. The Participants shall have no claim
against any Participating Company for any changes in the value of any assets which may be invested or reinvested by the Company with
respect to the Plan.

 

    25

     

    

 

16.12       Choice
of Law. Except to the extent governed by applicable federal law, the validity, interpretation, construction and performance of the
Plan and each Award Agreement shall be governed by the laws of the State of Delaware, without regard to its conflict of law rules.

 

16.13       Stockholder
Approval. The Plan or any increase in the maximum aggregate number of shares of Stock issuable thereunder as provided in Section 4.1
(the “Authorized Shares”) shall be approved by a majority of the outstanding securities of the Company entitled to
vote during the period beginning twelve (12) months before and ending twelve (12) months after the date of adoption thereof by the Board.
Awards granted prior to security holder approval of the Plan or in excess of the Authorized Shares previously approved by the security
holders shall become exercisable no earlier than the date of security holder approval of the Plan or such increase in the Authorized
Shares, as the case may be, and such Awards shall be rescinded if such security holder approval is not received in the manner described
in the preceding sentence.

 

    26Exhibit 10.16

 

March 16, 2021

 

Lucas Haldeman

[***]

 

Re. Employment Agreement

 

Dear Lucas:

 

The following, when signed
by you, shall constitute our agreement with respect to your employment with SmartRent.com, Inc. (“Company”).

 

1.             Employment.
Subject to the terms set forth herein, Company is offering you employment as Chief Executive Officer and, by signing below, you hereby
accept such employment, subject to the terms and conditions of this Agreement, and contingent upon your agreement to and execution of
Company’s Employee Confidential Information and Inventions Agreement, which is attached to this Agreement as Exhibit A.

 

2.             Duties.
During your employment: (a) you shall report to the Board of Directors or its designee, and you shall use your best efforts to perform
all duties required of you in furtherance of your position or assigned to you by Company in furtherance of Company’s (and its Affiliates’)
business, which are commensurate with your position; (b) you shall diligently and faithfully devote your entire working time, energy
and skill to the promotion of Company’s (and its Affiliates’) business interests and to the performance of your duties under
this Agreement; (c) you shall conduct yourself at all times so as to advance the best interests of Company and shall not undertake or
engage in any other business affiliations which conflict with your duties or the interests of Company (or its Affiliates) or interfere
with the performance of your services hereunder; and (d) you shall be governed by and be subject to all Company rules and regulations
applicable to employees generally, and to employees at your organizational level. In this Agreement, “Affiliates”
shall mean SmartRent.com, Inc. and its direct and indirect subsidiaries. You will have such responsibilities as are customarily performed
by a Chief Executive Officer of companies similarly situated to Company, as may be modified by Company. You understand and agree that
your duties as Chief Executive Officer are of a special, unique and extraordinary character, which gives them special and peculiar value
to Company. During your employment, upon request, you shall serve as an officer of one or more Affiliates of Company, and it is understood
that such service shall be without further compensation than is provided for in this Agreement. However, Company agrees that in the event
the duties required for any Affiliate shall result in a material increase in the scope of work contemplated by this Agreement, Company
shall review your base salary and bonus. Your principal place of employment will be at Company’s headquarters, in Scottsdale, Arizona.
You will be required to travel as reasonably necessary for the performance of your duties.

 

3.             Term of Employment.

 

A.                
At-Will Employment. The nature of the employment relationship between you and the Company is AT-WILL and may be terminated at any
time by either you or the Company upon notice to the other, for any or no reason, with or without cause. Further, the Company can demote,
transfer, suspend or otherwise discipline you in its sole discretion. Nothing contained in this Agreement, or in any written or unwritten
policies of the Company, including the Company’s employee handbook, shall be construed to create any other term of employment or
a requirement of cause for termination, demotion, or transfer.

 

     

     

    

 

B.                 
Term. The entire period of your employment shall be referred to herein as the “Term.”

 

4.             Compensation.

 

A.                
Compensation. You shall receive annual base compensation of three-hundred-twenty-five-thousand ($325,000.00), less applicable withholdings
and taxes (the “Base Salary”), payable in accordance with Company’s regular payroll practices (currently,
semi-monthly installments). Any increase to your annual Base Salary shall be made, in Company’s sole discretion, based on an annual
performance review and other financial considerations.

 

B.                 
Bonus. For each year of your initial Term, you will be eligible to earn an annual target bonus equal to 50% of Base Salary (or
a prorated amount if you work less than the fiscal year during your first fiscal year of employment). The actual bonus amount that you
earn shall be based on your performance and on the financial results of Company and shall be determined by Company in its sole discretion.
You will be required to remain employed with Company in good standing through the end of the bonus earning period before any bonus is
earned. Your annual bonus, to the extent earned, shall be paid concurrently with the payment of earned bonuses to other senior executives
of Company generally, but in no event later than March 15th of the year following the fiscal year for which your annual bonus is earned.
The annual target bonus for subsequent years, if any, will be determined by Company before the end of the first quarter of such year.

 

C.                 
Benefits. While you are employed hereunder, you shall be entitled to all standard Company benefits generally accorded to full time
senior level employees of Company from time to time, including, but not limited to, group medical health and accident, group insurance
and similar benefits, subject to the terms and conditions of the applicable policy, plan or program. Company reserves the right to prospectively
amend or terminate any such policy, plan or program, at any time, at its discretion. You are also eligible to participate in Company’s
401K plan to the extent such plan is in existence and you meet the requirements for eligibility.

 

5.             Exclusivity.
During your employment, Company is entitled to your undivided loyalty, and you may not transfer your loyalty to a competitor. This
duty of loyalty is breached if you act against the best interests of Company. Accordingly, while employed by Company, you shall not compete
with Company, or engage in or participate in any business that is in competition in any manner whatsoever with Company, in any capacity.
Your employment with Company shall be full-time and exclusive, and unless approved by Company in its sole discretion, you will not render
any services for other individuals or entities, or for your own account that are inconsistent with your duties under this Agreement.
To the extent such activities do not interfere or conflict with the business of Company and its Affiliates, or the performance of your
duties hereunder, you shall not be precluded from, on occasion, rendering services to charitable organizations.

 

6.             Exclusive
Property. You agree that all Company-related customers and other business procured by you in the course and scope of your employment
with Company, and all Company-related business opportunities and plans made known to you, while employed by Company, are and shall remain
the permanent and exclusive property of Company.

 

7.             Travel
and Entertainment Expenses. Company shall pay or reimburse you for reasonable business expenses actually incurred or paid by
you in the performance of your authorized services hereunder, in accordance with Company’s Business Expense Reimbursement policy,
and upon presentation of satisfactory documentation (e.g., expense statements or vouchers or such other supporting information) as Company
may customarily require.

 

    2

     

    

 

8.             Confidentiality.

 

A.                
Confidentiality. Other than in good faith in connection with and furtherance of your authorized duties hereunder, you shall not
at any time disclose or use any information relative to the activities of Company or its Affiliates, or cause or allow others to use or
disclose such information, which is of a secret or confidential nature, including without limitation, business plans, financial information,
contracts, contract proposals and negotiations, plan developments, customers and suppliers, administrative procedures, and dealings with
any contractual person or party or other third party (collectively, “Proprietary Information”). You will at
all times maintain the confidentiality of the Proprietary Information. However, nothing in this Agreement is intended to prohibit you
from making statements that are truthful in any legal proceeding, or as otherwise required by law, or from discussing Proprietary Information,
confidentially, with your legal advisor or accountant, for the limited purpose of obtaining legal or financial advice.

 

B.                 
You understand that the obligation of confidentiality, as summarized above and further detailed in the Employee Confidential Information
and Inventions Agreement entered concurrently with this Agreement, is an essential and material term of this Agreement, and without your
promise of confidentiality, this Agreement would not be entered. You understand that as a condition of this offer and of your continued
employment with Company, you must enter into and at all times abide by the Employee Confidential Information and Inventions Agreement
provided with this Agreement.

 

9.             Termination.

 

A.                
Death. If your employment shall terminate due to your death, you (or your estate) shall be paid, in lieu of all other payments
hereunder, the following: (1) accrued and unpaid Base Salary through the date of termination; (2) earned and unpaid bonus, if any;
(3) all other payments and benefits you may be entitled to receive under the terms of any applicable employee benefit plan or program
of Company in which you participate, if any, and any earned, unused vacation pay that has accrued to that date and is payable under Company’s
standard policies or under and in accordance with the terms of such employee benefit plan; and (4) reimbursement for all actual and previously
unreimbursed out-of-pocket business expenses properly incurred to the date of termination in accordance with Company’s standard
business expense reimbursement policies (collectively, the “Accrued Amounts”). The Accrued Amounts shall be
paid to your surviving spouse, if any, or otherwise to your estate, in a single lump sum payment within thirty (30) days of your death,
or, if otherwise provided in an applicable employee benefit plan, in accordance with the time and form of payment provisions of such plan,
in accordance with applicable law.

 

B.                  Disability.
If you are prevented from performing your duties as called for by this Agreement because of physical or mental incapacity or other disability
(a “Disability”) after you have been provided all legally required leaves of absence and reasonable accommodations,
then Company shall have the right to terminate your employment and shall give written notice to you regarding same. It is contemplated
that such termination would generally occur if you are unable to work for more than a continuous period of twelve (12) weeks, or for
shorter periods aggregating more than ninety (90) days in any consecutive twelve (12) month period. If your employment shall terminate
due to your Disability, you shall be paid, in lieu of all other payments hereunder, the Accrued Amounts. Except as otherwise provided
in Paragraph 9(A), the Accrued Amounts shall be paid to you in a single lump sum payment on the date of termination or, if otherwise
provided in an applicable employee benefit plan, in accordance with the time and form of payment provisions of such plan, as permitted
by law.

 

    3

     

    

 

C.            Termination
Without Cause.

 

i.                   
If Company terminates your employment within twelve (12) months after or three (3) months before a Change of Control (as defined
below) other than due to your death, Disability, or for Cause (as defined below), you shall receive the Accrued Amounts on the date
of termination or, if otherwise provided in an applicable employee benefit plan, in accordance with the time and form of payment
provisions of such plan, as permitted by law, and, in addition, subject to the Severance Conditions below, Company shall provide to
you: (1) a severance payment equal to six (6) months of your Base Salary as of the termination date (the “Severance
Payment”), divided and paid in equal installments over a period of six (6) months in accordance with Company’s
regular payroll practices starting on the first regular payday occurring after the effective date of the Release (as defined below),
but in any event no later than ninety (90) days following the termination date, except that if such ninety (90) day period spans two
(2) calendar years, then payment of any portion of the Severance Payment which constitutes deferred compensation subject to Code
Section 409A (as defined below) shall in any event begin in the second such calendar year; (2) an amount sufficient to
reimburse you for the premiums required to continue employee’s group health care coverage for a period of six (6) months under
the application provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”),
provided that you elect to continue and remain eligible for these benefits under COBRA, and do not obtain health coverage through
another employer during this period, and provided further that you are in full compliance with your obligations under the
Company’s Confidential Separation Agreement; and (3) immediate vesting of equity grants made to you pursuant to the
SmartRent.com, Inc. 2018 Stock Plan (the “Plan”) (collectively, the “Severance
Benefits”). Company’s obligation to provide you the Severance Benefits shall be conditioned on your satisfaction
of the following (the “Severance Conditions”): (1) you must first sign, and allow to become effective,
Company’s Confidential Separation Agreement, which shall include a full general release in a form acceptable to Company,
releasing all claims, known or unknown, that you may have against Company arising out of or any way related to your employment or
termination of employment with Company (the “Release”), and the Release must become effective in
accordance with its terms on or before the sixtieth (60th) day following the date of termination; and (2) on or before the effective
date of the Release you must have (i) reconfirmed your agreement to abide by all of the surviving provisions of the Employee
Confidential Information and Inventions Agreement; (ii) agreed to cooperate in the transition of your employment; and (iii) agreed
not to make any voluntary statements, written or oral, or cause or encourage others to make any such statements that defame,
disparage, or in any way criticize the personal and/or business reputations, practices, or conduct of the Company or any of the
Affiliates. All other Company obligations to you will be automatically terminated and completely extinguished.

 

ii.                 
  If Company terminates your employment without Cause or not within twelve (12) months after or three (3) months before a Change of Control,
you shall be paid, in lieu of all other payments hereunder, the Accrued Amounts. Except as otherwise provided in Paragraph 9(A), the Accrued
Amounts shall be paid to you in a single lump sum payment on the date of termination or, if otherwise provided in an applicable employee
benefit plan, in accordance with the time and form of payment provisions of such plan, as permitted by law. All other Company obligations
to you will be automatically terminated and completely extinguished.

 

D.            Termination
for Cause. Company shall have the right at any time, upon written notice to you, to terminate your employment immediately for Cause.
If Company terminates your employment for Cause, you shall have no right to receive any further compensation other than the Accrued Amounts.
In the event that Company terminates your employment for Cause, Company shall pay you your Accrued Amounts on the date of termination
or, if otherwise provided in an applicable employee benefit plan, in accordance with the time and form of payment provisions of such
plan, as permitted by law.

 

As used herein, “Cause”
shall have the meaning ascribed to that term in the Plan.

 

As used herein, “Change
of Control” shall have the meaning ascribed to that term in the Plan.

 

    4

     

    

 

E.            Your
Resignation. If you resign your employment for Good Reason, as defined below, within twelve (12) months after or three (3) months
before a Change of Control, you will be entitled to the Severance Benefits, contingent on your compliance with the Severance Conditions.
If you resign your employment without Good Reason, Company shall pay you your Accrued Amounts on the date of termination or, if otherwise
provided in an applicable employee benefit plan, in accordance with the time and form of payment provisions of such plan, as permitted
by law. All other Company obligations to you will be automatically terminated and completely extinguished.

 

As used herein, “Good
Reason” shall mean, without your written consent, (a) the material diminution or variation of any of your material duties
or responsibilities or the engagement by Company of unlawful employment practices with respect to you, in each case, without the same
being corrected within thirty (30) days after being given written notice thereof by the you, (b) a material reduction in the your Base
Salary, or (c) a breach by the Company of this Agreement without the same being corrected within thirty (30) days after being given written
notice thereof by you.

 

F.             No Further Obligations. The amounts and benefits provided for in this Section 9 shall be in lieu of any termination or severance
payments or benefits for which you may be eligible or entitled, now or in the future, under any of the plans, policies, or programs of
Company or any of its subsidiaries or Affiliates. In addition, the amounts and benefits provided for in this Section 9 shall be inclusive
of all statutory severance payable or otherwise provided to you in relation to your employment by Company and the termination of your
employment under this Agreement and compensation for all required notice periods. Except as otherwise expressly set forth in this Section
9, from and after the date of such termination, you shall (i) have no right to receive any further compensation (including Base Salary
or Bonus) hereunder, and, (ii) except to the extent required by law, cease to be covered under or be permitted to actively participate
in any benefits plans or programs.

 

G.            Resignation
from Officer and Director Positions. If your employment with Company terminates for any reason, you shall be deemed to have resigned
at that time from any and all positions that you may have held with Company or any of its Affiliates, as designated by Company, or any
other positions that you held on behalf of Company. If, for any reason, this Section 9G is deemed insufficient to effectuate such resignation,
following a reasonable opportunity to review, you hereby authorize Company to execute any documents or instruments consistent herewith
which Company may deem necessary or desirable to effectuate such resignation or resignations, and to act as your attorney-in-fact. Company
will provide you with a copy of such documents.

 

10.           Restrictive Covenants.

 

A.           Non-Competition
with the Company. You covenant and agree that during your employment and for a period of six (6) months following your
separation from the Company for any reason, you shall not, directly or indirectly, enter into or engage in the ownership,
management, operation or control of, or act as a consultant, advisor, employee or contractor for, any person, company or entity
engaged in Competition with the Company. This restriction is limited to (i) a radius of fifty (50) miles from any Company office or
other location where you worked or out of which you provided services during the two (2) years prior to your separation from
employment with the Company, and (ii) any territory in which the Company engaged in its business during that time period. You are
only restricted from working or performing services on your own behalf or for another entity where you have or will perform the same
or similar type of work or service or offer the same or similar products or services that you performed or offered for the Company
during your employment or the last year of your employment with the Company, whichever is shorter. The term in
 “Competition” with the Company means any company, person or entity engaged in the Business of the Company.
For purposes of this Agreement, the term “Business” shall mean the development of smart home automation
hardware or software for property owners, homeowners, managers or homebuilders.

 

    5

     

    

 

B.            Non-Solicitation
of Customers. During your employment with the Company and for a period of six (6) months following your separation from the Company
for whatever reason, you shall not, without the Company’s consent, directly or indirectly, contact, solicit, accept solicited business
from, or provide services to the Customers of the Company where those services compete with the services that the Company provided or
offered during the two (2) years prior to your separation of employment with the Company. The term “Customer”
shall mean any person, company, or entity with whom you had Material Contact and to whom, during the last year of your employment, the
Company either (i) sold or provided any products or services to or (ii) was actively soliciting for the purchase of products or services.
You will be deemed to have had “Material Contact” with a Customer if during your employment or the last year
of your employment with the Company, whichever is shorter, you (i) directly interacted with such Customer; (ii) supervised an employee
who interacted with such Customer; or (iii) obtained or received non-public information related specifically to the Company’s business
or prospective business with such Customer. This restriction is not intended to prohibit you from offering similar services or products
to persons, companies, or entities that are not Customers.

 

C.            Non-Solicitation
of Employees. During your employment with the Company and for six (6) months following your separation from the Company for whatever
reason, you shall not on your own behalf or on behalf of any other person or entity, directly or indirectly, solicit for employment or
hire or assist in the solicitation or hiring of any employee who worked for or is affiliated with the Company and during your employment
or the last year of your employment with the Company, whichever is shorter, either (i) reported, directly or indirectly, to you, (ii)
worked with you on any Company-related project, product, or service, or (iii) worked for or with the same Customer(s) as you. This restriction
includes but is not limited to: (a) providing to any such prospective employer the identities of any of the Company’s employees;
or (b) assisting any of the Company’s employees in obtaining employment with your new employer through dissemination of resumes
or otherwise.

 

D.            Review;
Injunctive Relief; and Amendment

 

i.                   The Company shall at all times maintain the right to seek enforcement of these provisions whether or not the Company has previously refrained
from seeking enforcement of any provision herein or against any other individual who has signed an agreement with similar provisions.

 

ii.                 
You acknowledge and agree that the covenants contained herein are intended to ensure that the Company, its Affiliates, and their respective
businesses are not adversely affected by your acting in a manner contrary to this Agreement and thereby damaging the results, prospects,
and goodwill associated with the business (both present and future) of the Company and/or any of its Affiliates; that a breach of any
section of this Agreement will cause serious harm to the Company and/or any of its Affiliates; and that all of the covenants and restrictions
contained herein are reasonable and valid and all defenses to the enforcement thereof are hereby expressly waived.

 

iii.               
You acknowledge that because of the difficulty of measuring economic losses to the Company as a result of a breach or threatened breach
of any of the foregoing covenants, and because of the immediate and irreparable damage that would be caused to the Company and for which
monetary damages would not be a sufficient remedy and would not be fully or adequately compensated by recovery of damages alone, it is
hereby agreed that in addition to all other remedies and damages that may be available to the Company hereunder and at law or in equity,
the Company and shall be entitled to specific performance and any injunctive or other equitable relief as a remedy for any such breach.

 

    6

     

    

 

iv.                You understand the nature of the burdens imposed by the covenants in this Agreement. You acknowledge that you are entering into the Agreement
on your own volition, and that you have been given the opportunity to have this Agreement reviewed by your legal counsel. You represent
that upon careful review, you know of no reason why any covenant contained in this Agreement is not reasonable and enforceable and is
necessary and reasonable to protect the interests of the Company and/or any of its Affiliates. You further acknowledge and agree that
the restrictions and limitations imposed by this Agreement will not prevent you from earning a meaningful livelihood.

 

v.                  The restrictive covenants set forth in this Section 10 are of the essence of this Agreement and they shall be construed as agreements
independent of (i) any other agreements or (ii) any other provision in this Agreement. The existence of any claim or cause of action of
you against the Company, whether predicated on this Agreement or otherwise, regardless of who was at fault and regardless of any claims
that either you or the Company may have against the other, will not constitute a defense to the enforcement by the Company against you
of the restrictive covenants. The Company shall not be barred from enforcing the restrictive covenants set forth in this Section 10 by
reason of any breach of (i) any other part of this agreement or (ii) any other agreement with you.

 

vi.                If any of the restrictive covenants set forth in this Section 10 are held by a court of competent jurisdiction to be invalid or unenforceable
as currently drafted, the Company and you request and authorize that court to modify any such provision by limiting and reducing it so
as to be enforceable to the maximum extent compatible with applicable law.

 

vii.              
You and the Company agree and request that, if a court of competent jurisdiction rules that you breached a restrictive covenant contained
in this Agreement, the court include in its order that the portion of the restricted time period during which you were in breach of the
restrictive covenant be added to the remaining restricted period (if any) and that the extended restricted time period resume as of the
date of the court’s order.

 

11.           Notices.

 

All notices and other communications
required by this Agreement must be in writing, given by hand delivery, nationally recognized overnight courier, facsimile (with electronic
confirmation of receipt and a copy sent by nationally recognized overnight courier) or registered or certified mail, postage prepaid,
return receipt requested. Notices shall be sent to the following addresses (or such other address as a party may specify by like notice):

 

	 	
    If to you, at the address set forth above.

     

    If to Company:

     

    18835 N. Thompson Peak Parkway, Suite 300

    Scottsdale, AZ 85255

     

    with a copy to:

     

    DLA Piper LLP (US)

    Attn: Kevin E. Criddle

    2525 E. Camelback Rd., Suite 1000

    Phoenix, AZ 85016

 

    7

     

    

 

Notice shall be deemed given and delivered: (i)
if delivered by hand or by facsimile, on the date delivered; (ii) if delivered by nationally-recognized overnight courier, one business
day after entrusted to such courier service; or (iii) if delivered by registered or certified U.S. mail, five business days after entrusted
to the U.S. postal service. As used herein, the term “business day” shall mean any day that is not a Saturday,
Sunday, or a legal holiday in the State of Arizona.

 

12.           Representations.

 

You hereby represent and warrant
that you are free to enter into and perform your duties under this Agreement, without any contractual restrictions with respect to any
prior employers, entities, or otherwise, and that you will not use any confidential information of any prior employers or entities in
performing your responsibilities hereunder.

 

Company hereby represents and
warrants that it has full power and authority to enter into this Agreement and all corporate acts and other proceedings required to be
taken by Company to authorize the execution, delivery, and performance of this Agreement have been duly taken.

 

13.           Section 409A.

 

A.            The intent of the parties is that payments and benefits under this Agreement shall comply with, or be exempt from, Section 409A of the
Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder (collectively, “Code Section 409A”),
and, accordingly, all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes
or penalties under Code Section 409A. If you notify Company (with specificity as to the reason therefore) that you believe that any provision
of this Agreement (or of any award of compensation, including equity compensation or benefits) would cause you to incur any additional
tax or interest under Code Section 409A and Company after good faith review concurs with such belief or Company (without any obligation
whatsoever to do so) independently makes such determination, Company shall, after consulting with you, reform such provision to try to
comply with Code Section 409A through good faith modifications to the minimum extent reasonably appropriate to comply with the requirements
of Code Section 409A to the extent applicable. To the extent that any provision hereof is modified in order to comply with Code Section
409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent
and economic benefit to you and Company of the applicable provision without violating the provisions of Code Section 409A. In no event
whatsoever shall Company be liable for any additional tax, interest or penalties that may be imposed on you by Code Section 409A or any
damages for failing to comply with Code Section 409A.

 

B.            Subject to the terms of this Agreement, a termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amounts or benefits constituting deferred compensation subject to Code
Section 409A upon or following a termination of employment unless such termination is also a “separation from
service” (within the meaning of Code Section 409A) and, for purposes of any such provision of this Agreement,
references to a “termination” or “termination of employment” or like references
shall mean separation from service. If you are deemed on the date of termination of your employment to be a “specified
employee,” within the meaning of that term under Section 409A(a)(2)(B) of the Internal Revenue Code and using the
identification methodology selected by Company from time to time, or if none, the default methodology, then with regard to any
payment or benefit that is required to be delayed in compliance with Section 409A(a)(2)(B) of the Internal Revenue Code, such
payment or benefit shall not be made or provided prior to the earlier of (i) the expiration of the six (6) month period measured
from the date of your separation from service or (ii) the date of your death. On the first day of the seventh (7th) month following
the date of the your separation from service or, if earlier, on the date of your death, all payments delayed pursuant to this
Section 13 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be
paid or reimbursed to you in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided
in accordance with the normal payment dates specified for them herein.

 

    8

     

    

 

C.            With regard to any provision herein that provides for reimbursement of expenses or in-kind benefits, except as permitted by Code Section
409A, (i) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit, and (ii) the amount
of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for
reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that this clause (ii) shall not be violated with
regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Internal Revenue Code solely because such expenses
are subject to a limit related to the period the arrangement is in effect, and (iii) such payments shall be made on or before the last
day of the calendar year following the calendar year in which the expense occurred.

 

D.            If under this Agreement, an amount is to be paid in two (2) or more installments, for purposes of Code Section 409A, each installment
shall be treated as a separate payment.

 

E.             Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made
within thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be within
the sole discretion of Company.

 

14.            Additional
Provisions.

 

A.            This Agreement, the Plan, and the Employee Confidential Information and Inventions Agreement and Employee Arbitration Agreement entered
concurrently with this Agreement, constitutes the entire Agreement between you and Company with respect to your employment by Company
and cannot be changed or terminated orally. No modification or waiver of any of the provisions of the Agreement shall be effective unless
in writing and signed by the party against whom it is sought to be enforced. The parties’ obligations under this Agreement which
are intended to be fulfilled post-employment shall survive the termination of your employment, including the applicable provisions of
Sections 8 through 13, and shall remain in full force and effect for as long as required notwithstanding the termination of your employment
for any reason.

 

B.            In the event any provision of this Agreement is found to be unenforceable by a court of competent jurisdiction, such provision shall be
deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall
receive the benefits contemplated herein to the fullest extent permitted by law. If a deemed modification is not satisfactory in the judgment
of such court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall
not be affected thereby.

 

C.            No failure on the part of either party to exercise and no delay in exercising any right, power or remedy hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise thereof or the exercise of any other right, power, or remedy.

 

D.            This Agreement shall inure to the benefit of and be binding upon your heirs and personal representatives of your estate and the
successors and permitted assigns of Company, regardless of any change in its business structure, whether through spinoff, merger,
sale of stock or assets, or any other transaction or assignment. Notwithstanding the foregoing, this Agreement is a personal
services contract and, as such, you may not assign any of your duties or obligations hereunder. Company may not assign this
Agreement nor any rights or obligations hereunder other than to an Affiliate or to an entity which, by way of merger, consolidation
or sale of substantially all of the assets of Company becomes a successor to Company, so long as such successor assumes in writing
Company’s obligations hereunder (and Company agrees to deliver a copy to you of such assumption promptly following your
request for such). For the purposes of this Agreement, the term “Company” shall include Company and,
subject to the foregoing sentence, any of its successors and assigns.

 

    9

     

    

 

E.            You have been advised to seek the advice of independent counsel concerning the execution of this Agreement. Your signature below indicates
you have received such counsel as you deem appropriate or have waived your right to do so.

 

F.             The headings of the several Paragraphs of this Agreements have been inserted for convenience of reference only and shall in no way restrict
or modify any the terms of provisions hereof. This Agreement has been drafted by legal counsel representing Company, but you have participated
in the negotiation of its terms. Furthermore, you acknowledge that you have had an opportunity to review and revise the Agreement and
have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are
to be resolved against the drafting party shall not be employed in the interpretation of this Agreement.

 

G.            This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Arizona, without regard to
conflicts of laws. Each party consents to the jurisdiction and venue of the state or federal courts in Phoenix, Arizona, if applicable,
in any action, suit, or proceeding arising out of or relating to this Agreement. Any and all disputes, other than requests for injunctive
relief by either party, will be resolved through binding arbitration consistent with the Employee Arbitration Agreement attached hereto
as Exhibit B.

 

H.            This Agreement may be executed in one or more identical counterparts, each of which shall be deemed an original, but all of which shall
together constitute one and the same instrument.

 

*            *            *            *            *            *            *

 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

    10

     

    

 

If the foregoing terms of
this Agreement reflect our understanding and agreement, kindly sign this Agreement in the appropriate space below and return it to the
undersigned, whereupon it will constitute an agreement between us.

 

	 	
    Sincerely,

     

    SmartRent.com, Inc.

     

	 	By:	/s/ Jonathan Wolter
	 	 	Name: Jonathan Wolter
	 	 	Title: Chief Financial Officer

 

Enclosures:

Exhibit A - Employee Confidentiality
and Proprietary Rights Agreement.

 

Exhibit B – Employee Arbitration
Agreement

 

*            *            *            *            *            *            *

 

I have read the foregoing Agreement, including
the Employee Confidentiality and Proprietary Rights Agreement, in its entirety, have consulted my own legal counsel as I deem necessary,
and by signing below, I accept the terms and conditions of employment described in this Agreement.

 

	AGREED AND ACCEPTED:	 
	 	 
	Dated:  	  3/17/2021	 
	 	 
	By:	 /s/ Lucas Haldeman	 
	 	Lucas Haldeman	 

 

    

     

    

 

EXHIBIT A

 

EMPLOYEE CONFIDENTIALITY AND PROPRIETARY RIGHTS
AGREEMENT 

 

This Agreement formalizes
in writing certain understandings and procedures which have been in effect since the time I was initially employed by SmartRent.com, Inc.
(“Company”).

 

1.             Duties.
In return for the compensation now and hereafter paid to me, I will perform such duties for Company as the Company may designate from
time to time. During my employment with Company, I will devote my best efforts to the interests of Company, will not engage in other
employment or in any activities that Company determines to be detrimental to its best interests and will otherwise abide by all of Company’s
policies and procedures. For purposes of this Agreement, SmartRent.com’s business means the development of smart home automation
hardware or software for property owners, homeowners, managers or homebuilders (the “Business”). Furthermore,
I will not (a) reveal, disclose or otherwise make available to any person any Company password or key, whether or not the password or
key is assigned to me or (b) obtain, possess or use in any manner a Company password or key that is not assigned to me. I will use my
best efforts to prevent the unauthorized use of any laptop or personal computer, peripheral device, software or related technical documentation
that the Company issues to me, and I will not input, load or otherwise attempt any unauthorized use of software in any Company computer,
whether or not such computer is assigned to me.

 

2.             Proprietary Information Definition. “Proprietary Information” includes (a) any Company information that
is confidential or proprietary, technical or non-technical, including for example and without limitation, information related to Innovations
(as defined in Section 4 below), concepts, techniques, processes, methods, systems, designs, computer programs, source documentation,
trade secrets, formulae, development or experimental work, work in progress, forecasts, proposed and future products, marketing plans,
financial information, business plans, customers and suppliers and any other nonpublic information that has commercial value or (b) any
information Company has received from others that Company is obligated to treat as confidential or proprietary, which may be made known
to me by Company, a third party or otherwise that I may learn during my employment with Company.

 

3.             Ownership
and Nondisclosure of Proprietary Information. All Proprietary Information is the sole property of Company, Company’s assigns,
Company’s customers and Company’s suppliers, as applicable. Company, Company’s assigns, Company’s customers and
Company’s suppliers, as applicable, are the sole and exclusive owners of all patents, copyrights, mask works, trade secrets and
other rights in and to the Proprietary Information. I will not disclose any Proprietary Information to anyone outside Company, and I
will use and disclose Proprietary Information to those inside Company only as may be necessary in the ordinary course of performing my
duties as an employee of Company. If I have any questions as to whether information constitutes Proprietary Information, or to whom,
if anyone, inside Company, any Proprietary Information may be disclosed, I will consult with my manager at Company.

 

4.             Innovations
Definition. In this Agreement, “Innovations” means all discoveries, designs, developments, improvements,
inventions (whether or not protectable under patent laws), works of authorship, information fixed in any tangible medium of expression
(whether or not protectable under copyright laws), trade secrets, know-how, ideas (whether or not protectable under trade secret laws),
mask works, trademarks, service marks, trade names and trade dress.

 

5.             Disclosure
and License of Prior Innovations. I have listed on Exhibit A (“Prior Innovations”), attached hereto,
all Innovations relating in any way to Company’s Business or demonstrably anticipated research and development or business, which
were conceived, reduced to practice, created, derived, developed, or made by me prior to my employment with Company (collectively, the
 “Prior Innovations”). I represent that I have no rights in any such Company-related Innovations other than
those Innovations listed on Exhibit A. If nothing is listed on Exhibit A, I represent that there are no Prior
Innovations at the time of signing this Agreement. I hereby grant to Company and Company’s designees a royalty-free, irrevocable,
worldwide, fully paid-up license (with rights to sublicense through multiple tiers of sublicensees) to practice all patent, copyright,
moral right, mask work, trade secret and other intellectual property rights relating to any Prior Innovations that I incorporate, or
permit to be incorporated, in any Innovations that I, solely or jointly with others, conceive, develop or reduce to practice during my
employment with Company (the “Company Innovations”). Notwithstanding the foregoing, I will not incorporate,
or permit to be incorporated, any Prior Innovations in any Company Innovations without Company’s prior written consent.

 

    Exhibit A-1

     

    

 

6.             Future
Innovations. I will disclose promptly in writing to Company all Innovations conceived, reduced to practice, created, derived, developed,
or made by me during the term of my employment and for three (3) months thereafter, whether or not I believe such Innovations are subject
to this Agreement, to permit a determination by Company as to whether or not the Innovations should be considered Company Innovations.
Company will receive any such information in confidence.

 

7.             Disclosure
and Assignment of Company Innovations. I will promptly disclose and describe to Company all Company Innovations. I hereby do and
will assign to Company or Company’s designee all my right, title, and interest in and to any and all Company Innovations. To the
extent any of the rights, title and interest in and to Company Innovations cannot be assigned by me to Company, I hereby grant to Company
an exclusive, royalty-free, transferable, irrevocable, worldwide license (with rights to sublicense through multiple tiers of sublicensees)
to practice such non-assignable rights, title and interest. To the extent any of the rights, title and interest in and to Company Innovations
can neither be assigned nor licensed by me to Company, I hereby irrevocably waive and agree never to assert such non-assignable and non-licensable
rights, title and interest against Company or any of Company’s successors in interest.

 

This Section 7 shall be construed
to apply to all Company Innovations with which I am involved from this date forward, as well as all Company Innovations with which I have
been involved since my employment with the Company began.

 

8.             Exclusion
from Assignment. I understand that my obligation to assign, license or waive a claim with respect to any Innovation must comply with
the requirements of applicable law, Section 7 of this Agreement (Disclosure and Assignment of Company Innovations) does not apply to,
and I do not assign my rights to any Innovation (whether a Company Innovation or otherwise) when I can prove that: (a) I developed the
Innovation entirely on my own time; (b) I did not use Company equipment, supplies, facilities, or trade secret information in its development;
(c) the Innovation does not relate (i) directly to the Business of Company, or (ii) to the actual or demonstrably anticipated
research or development of Company; and (d) the Innovation does not result from any work performed by me for Company. This Section will
be construed to apply to all Innovations with which I am involved from this date forward, as well as all Company Innovations with which
I have been involved since my employment with Company began.

 

9.             Cooperation
in Perfecting Rights to Innovations. I agree to perform, during and after my employment, all acts that Company deems necessary or
desirable to permit and assist Company, at its expense, in obtaining and enforcing the full benefits, enjoyment, rights and title throughout
the world in the Innovations as provided to Company under this Agreement. If Company is unable for any reason to secure my signature
to any document required to file, prosecute, register or memorialize the assignment of any rights or application or to enforce any right
under any Innovations as provided under this Agreement, I hereby irrevocably designate and appoint Company and Company’s duly authorized
officers and agents as my agents and attorneys-in-fact to act for and on my behalf and instead of me to take all lawfully permitted
acts to further the filing, prosecution, registration, memorialization of assignment, issuance, and enforcement of rights under such
Innovations, all with the same legal force and effect as if executed by me. The foregoing is deemed a power coupled with an interest
and is irrevocable.

 

    Exhibit A-2

     

    

 

10.           Employment at Will. I acknowledge that my employment will be of indefinite duration and that either Company or I will be free to
terminate my employment at any time with or without cause. I also acknowledge that any representations to the contrary are unauthorized
and void, unless contained in a formal written employment contract signed by an officer of Company.

 

11.           Return
of Materials. At any time upon Company’s request, and when my employment with Company is over, I will return all materials
(including, without limitation, documents, drawings, papers, electronic storage devices and tapes) containing or disclosing any Proprietary
Information (including all copies thereof), as well as any keys, pass cards, identification cards, computers, printers, pagers, personal
digital assistants or similar items or devices that the Company has provided to me. I will provide Company with a written certification
of my compliance with my obligations under this Section.

 

12.           No
Violation of Rights of Third Parties. During my employment with Company, I will not (a) breach any agreement to keep in confidence
any confidential or proprietary information, knowledge or data acquired by me prior to my employment with Company or (b) disclose to
Company, or use or induce Company to use, any confidential or proprietary information or material belonging to any previous employer
or any other third party. I am not currently a party, and will not become a party, to any other agreement that is in conflict, or will
prevent me from complying, with this Agreement.

 

13.           Defend Trade Secrets Act.  Pursuant to the Defend Trade Secrets Act of 2016, I acknowledge that I shall not have criminal
or civil liability under any Federal or State trade secret law for the disclosure of a trade secret or Proprietary Information that (A)
is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney and (ii)
solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed
in a lawsuit or other proceeding, if such filing is made under seal. In addition, if I file a lawsuit for retaliation by the Company for
reporting a suspected violation of law, I may disclose the trade secret to my attorney and may use the trade secret information in the
court proceeding, if I (X) file any document containing the trade secret under seal and (Y) do not disclose the trade secret, except pursuant
to court order.

 

14.           Survival.
This Agreement (a) will survive my employment by Company; (b) does not in any way restrict my right to resign or the right
of Company to terminate my employment at any time, for any reason or for no reason; (c) inures to the benefit of successors and
assigns of Company; and (d) is binding upon my heirs and legal representatives.

 

15.           No Disparagement. During my employment with Company and after the termination thereof, I will not disparage Company, its products,
services, agents or employees.

 

16.           Injunctive Relief. I agree that if I violate this Agreement, Company will suffer irreparable and continuing damage for which money
damages are insufficient, and Company will be entitled to injunctive relief and/or a decree for specific performance, and such other relief
as may be proper (including money damages if appropriate).

 

17.           Notices.
Any notice required or permitted by this Agreement will be in writing and will be delivered as follows, with notice deemed given as
indicated: (a) by personal delivery, when actually delivered; (b) by overnight courier, upon written verification of
receipt; (c) by facsimile transmission, upon acknowledgment of receipt of electronic transmission; or (d) by certified or
registered mail, return receipt requested, upon verification of receipt. Notices to me will be sent to any address in
Company’s records or such other address as I may provide in writing. Notices to Company will be sent to Company’s Human
Resources Department or to such other address as Company may specify in writing.

 

    Exhibit A-3

     

    

 

18.           Governing Law; Forum. This Agreement will be governed by the laws of the United States of America and by the laws of the State
of Arizona, as such laws are applied to agreements entered into and to be performed entirely within Arizona. Company and I each irrevocably
consent to the exclusive personal jurisdiction of the federal and state courts located in Maricopa County, Arizona, as applicable, for
any matter arising out of or relating to this Agreement, except that in actions seeking to enforce any order or any judgment of such federal
or state courts located in Maricopa County, Arizona, such personal jurisdiction will be nonexclusive.

 

19.           Severability. If a court of law holds any provision of this Agreement to be illegal, invalid or unenforceable, (a) that provision
will be deemed amended to provide Company the maximum protection permitted by applicable law and (b) the legality, validity and enforceability
of the remaining provisions of this Agreement will not be affected.

 

20.           Waiver;
Modification. If Company waives any term, provision or breach by me of this Agreement, such waiver will not be effective unless it
is in writing and signed by Company. No waiver will constitute a waiver of any other or subsequent breach by me. This Agreement may be
modified only if both Company and I consent in writing.

 

21.           Assignment.
The rights and benefits of this Agreement shall extend to all successors and assigns of Company, whether by merger, reorganization, sale
of assets, operation of law or otherwise.

 

22.            Careful
Review. I certify and acknowledge that I have carefully reviewed, together with any advisors as I deem necessary, all of the provisions
of this Agreement and that I understand and will fully and faithfully comply with such provisions.

 

23.           Entire Agreement. This Agreement represents my entire understanding with Company with respect to the subject matter of this Agreement
and supersedes all previous understandings, written or oral.

 

[Signature page follows.]

 

    Exhibit A-4

     

    

 

I certify and acknowledge that I have carefully
read all the provisions of this Agreement and that I understand and will fully and faithfully comply with such provisions.

 

	COMPANY:	 	EMPLOYEE:
	 	 	 
	SmartRent.com, Inc.	 	Lucas Haldeman

 

	By:	/s/ Jonathan Wolter	 	By:	/s/ Lucas Haldeman

 

	Title:	Chief Financial Officer	 	Dated:	3/17/2021

 

	Dated:	3/17/2021	 	 	 

 

    Exhibit A-5

     

    

 

Exhibit A

 

PRIOR INNOVATIONS

 

Check one of the following (if nothing is checked,
then no such Prior Innovations exist):

 

x       NO
PRIOR INNOVATIONS EXIST.

 

OR

 

 ̈            
YES, PRIOR INNOVATIONS EXIST AS DESCRIBED BELOW (include basic description of each Prior Innovation):

 

    

     

    

 

EXHIBIT B

 

EMPLOYEE ARBITRATION AGREEMENT

 

SmartRent.com, Inc. (the “Company”)
and the undersigned (“Employee”) hereby agree that, to the fullest extent permitted by law, any and all claims
or controversies between them (or between Employee and any present or former officer, director, agent, or employee of the Company or any
parent, subsidiary, or other entity affiliated with the Company) relating in any manner to the employment or the termination of employment
of Employee, including but not limited to the interpretation, applicability, or enforceability of this Agreement, shall be resolved by
final and binding arbitration. Except as specifically provided herein, any arbitration proceeding shall be conducted in accordance with
the Employment Arbitration Rules and Mediation Procedures of the American Arbitration Association (the “AAA Rules”),
available at www.adr.org /rules or provided upon request by the Company. Claims subject to arbitration shall include without limitation
contract claims, tort claims, claims relating to compensation and stock options, as well as claims based on any federal, state, or local
law, statute, or regulation, including but not limited to any claims arising under Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act, the Americans with Disabilities Act, the Arizona Employment Protection Act, the Arizona Civil Rights
Act, and all other applicable Arizona law. However, claims for unemployment compensation, workers’ compensation, claims under the
National Labor Relations Act, and other claims excluded by law shall not be subject to arbitration (the “Excluded Claims”).
The Parties agree that if any dispute involves both timely filed Excluded Claims and claims subject to this Agreement, the parties agree
to bifurcate and stay for the duration of the arbitration proceedings any such Excluded Claims.

 

Except as provided otherwise by law and herein,
Employee agrees that all claims must be brought in his or her individual capacity, and not as a plaintiff or participating class member
in any purported class, collective, or consolidated proceeding, and Employee expressly waives any right Employee had or may have had to
have any dispute brought, heard, or arbitrated as a class action and/or as a collective action. The arbitrator has no authority to adjudicate
class, collective, or consolidated proceedings, other than to enforce this provision. Also except as provided otherwise by law and herein,
Employee further understands and agrees that Employee may not bring any claims as a plaintiff or participating class member in any purported
representative action or proceeding, and Employee expressly waives any right Employee had or may have had to have any dispute brought,
heard, or arbitrated as a representative action. The arbitrator has no authority to adjudicate representative proceedings, other than
to enforce this provision. This class action waiver shall be interpreted consistent with the Federal Arbitration Act and Arizona law to
the extent it is not preempted by federal law.

 

A neutral and impartial arbitrator shall be chosen
by mutual agreement of the parties; however, if the parties are unable to agree upon an arbitrator within a reasonable period of time,
then a neutral and impartial arbitrator shall be appointed in accordance with the arbitrator nomination and selection procedure set forth
in the AAA Rules. The arbitrator shall prepare a written decision containing the essential findings and conclusions on which the award
is based so as to ensure meaningful judicial review of the decision. The arbitration proceedings will allow for reasonable discovery under
the AAA Rules, and the arbitrator selected according to this agreement shall decide all discovery disputes. The arbitrator shall apply
the same substantive law, with the same statutes of limitations and same remedies that would apply if the claims were brought in a court
of law. The arbitrator shall have the authority to consider and decide pre-hearing motions, including dispositive motions.

 

Either the Company or Employee may bring an
action in court to compel arbitration under this Agreement and to enforce an arbitration award. Except as otherwise provided in this
Agreement, neither party shall initiate or prosecute any lawsuit in any way related to any arbitrable claim, including without
limitation any claim as to the making, existence, validity, or enforceability of the agreement to arbitrate. All arbitration
hearings under this Agreement shall be conducted in Maricopa County, Arizona.

 

    Exhibit B-1

     

    

 

Nothing in this Agreement precludes a party from
filing an administrative charge before an agency that has jurisdiction over an arbitrable claim. In addition, either party may, at its
option, seek injunctive relief in a court of competent jurisdiction.

 

This Agreement shall be governed by the Federal
Arbitration Act to the extent allowed by law. In ruling on procedural and substantive issues raised in the arbitration itself, the arbitrator
shall in all cases apply the substantive law of the State of Arizona.

 

Company shall bear the costs of the arbitrator,
forum and filing fees. Each party shall pay its own costs and attorney’s fees, unless a party prevails on a statutory claim, and
the statute provides that the prevailing party is entitled to payment of its attorneys' fees. In that case, the arbitrator may award reasonable
attorneys' fees and costs to the prevailing party as provided by law. The costs and fees of the arbitrator shall be paid by the Company.

 

This Agreement is not, and shall not be construed
to create, a contract of employment, express or implied. This Agreement does not alter Employee’s at-will employment status. Either
Employee or the Company may terminate Employee’s employment at any time, for any reason or no reason, with or without prior notice.

 

If any provision of this Agreement shall be held
by a court or the arbitrator to be invalid, unenforceable, or void, such provision shall be enforced to the fullest extent permitted by
law, and the remainder of this Agreement shall remain in full force and effect. The parties’ obligations under this Agreement shall
survive the termination of Employee’s employment with the Company and the expiration of this Agreement.

 

The Company and Employee understand and agree
that this Arbitration Agreement contains a full and complete statement of any agreements and understandings regarding resolution of disputes
between the parties, and the parties agree that this Arbitration Agreement supersedes all previous agreements, whether written or oral,
express or implied, relating to the subjects covered in this agreement. The parties also agree that the terms of this Arbitration Agreement
cannot be revoked or modified except in a written document signed by both Employee and the Company President.

 

THE PARTIES ALSO UNDERSTAND AND AGREE THAT THIS
AGREEMENT CONSTITUTES A WAIVER OF THEIR RIGHT TO A TRIAL BY JURY OF ANY CLAIMS OR CONTROVERSIES COVERED BY THIS AGREEMENT. THE PARTIES
AGREE THAT NONE OF THOSE CLAIMS OR CONTROVERSIES SHALL BE RESOLVED BY A JURY TRIAL.

 

THE PARTIES FURTHER ACKNOWLEDGE THAT THEY HAVE
BEEN GIVEN THE OPPORTUNITY TO DISCUSS THIS AGREEMENT WITH THEIR LEGAL COUNSEL AND HAVE AVAILED THEMSELVES OF THAT OPPORTUNITY TO THE EXTENT
THEY WISH TO DO SO.

 

[Signature page follows.]

 

    Exhibit B-2

     

    

 

	Employee:	 
	 	 
	Signature: 	/s/ Lucas Haldeman	 
	 	 
	Print Name:	 Lucas Haldeman	 
	 	 
	Date: 	3/17/2021	 
	 	 
	SmartRent.com, Inc.	 
	 	 
	Signature:	 /s/ Jonathan Wolter	 
	 	 
	Print Name: 	Jonathan Wolter	 
	 	 
	Print Title:	 Chief Financial Officer	 
	 	 
	Date: 	3/17/2021	 

 

    Exhibit B-3

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