SEC Contract Filing

Filing Date: 2022-03-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>4
<FILENAME>f10k2021ex10-13paltalkinc.htm
<DESCRIPTION>FORM OF DIRECTOR AND OFFICER NONQUALIFIED STOCK OPTION AGREEMENT
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.13</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM OF NONQUALIFIED STOCK OPTION AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PALTALK, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>2016 LONG-TERM INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">1. <U>Grant
of Option</U>. Pursuant to the Paltalk, Inc. 2016 Long-Term Incentive Plan (the &ldquo;<B><I>Plan</I></B>&rdquo;) for Employees, Contractors,
and Outside Directors of Paltalk, Inc., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), the Company grants to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>________ ___________</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(the &ldquo;<B><I>Participant</I></B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">an option (the &ldquo;<B><I>Option</I></B>&rdquo;
or &ldquo;<B><I>Stock Option</I></B>&rdquo;) to purchase a total of <U>________</U>(____________) full shares of Common Stock of the Company (the
&ldquo;<B><I>Optioned Shares</I></B>&rdquo;) at an &ldquo;<B><I>Option Price</I></B>&rdquo; equal to $________ per share (which is equal
to the Fair Market Value per share of Common Stock on the Date of Grant).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The &ldquo;<B><I>Date of Grant</I></B>&rdquo;
of this Stock Option is <U>__________</U> __, 20__. The &ldquo;<B><I>Option Period</I></B>&rdquo; shall commence on the Date of Grant and shall
expire on the date immediately preceding the tenth (10<SUP>th</SUP>) anniversary of the Date of Grant, unless terminated earlier in accordance
with <U>Section 4</U> below. The Stock Option is a Nonqualified Stock Option. This Stock Option is intended to comply with the provisions
governing nonqualified stock options under the final Treasury Regulations issued on April&nbsp;17, 2007, in order to exempt this Stock
Option from application of Section 409A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">2. <U>Subject
to Plan</U>. The Stock Option and its exercise are subject to the terms and conditions of the Plan, and the terms of the Plan shall control
to the extent not otherwise inconsistent with the provisions of this Nonqualified Stock Option Agreement (this &ldquo;<B><I>Agreement</I></B>&rdquo;).
The capitalized terms used herein that are defined in the Plan shall have the same meanings assigned to them in the Plan. The Stock Option
is subject to any rules promulgated pursuant to the Plan by the Board or the Committee and communicated to the Participant in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">3. <U>Vesting;
Time of Exercise</U>. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in
the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">a. _____________________
of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on _____________________, provided
the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or
a Subsidiary on that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">b. _____________________
of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on _____________________, provided
the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or
a Subsidiary on that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,