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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on September 18, 2020&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-&nbsp;</B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMERICAN WELL CORPORATION</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
its Charter)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 44%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>7372</B></FONT></TD>
    <TD STYLE="width: 27%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>20-5009396</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction of <BR>
Incorporation or Organization)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Primary Standard Industrial Classification Code Number)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer <BR>
Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>75 State Street, 26<SUP>th</SUP> Floor</B></P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Boston, MA 02109</B></P>
</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Address of Principal Executive Offices)</FONT>

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<FONT STYLE="font-size: 10pt"></FONT>



<FONT STYLE="font-size: 10pt"></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>American Well Corporation 2020 Equity
        Incentive Plan</B></P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>American Well Corporation 2020 Employee
        Stock Purchase Plan<BR>
        American Well Corporation 2006 Amended and Restated Employee, Director and Consultant Stock Plan, as amended</B></P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full Titles of the Plans)</P>
</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><FONT STYLE="font-size: 10pt"><B>Ido
Schoenberg</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><FONT STYLE="font-size: 10pt"><B>Chairman,
Co-Chief Executive Officer</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><FONT STYLE="font-size: 10pt"><B>American
Well Corporation</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><FONT STYLE="font-size: 10pt"><B>75
State Street, 26th Floor</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><FONT STYLE="font-size: 10pt"><B>Boston,
MA 02109</B></FONT></P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><FONT STYLE="font-size: 10pt"><B>(617)&nbsp;204-3500&nbsp;</B></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>(Name,
Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)</B>&#9;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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

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    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><I>With copies to:</I></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="background-color: white"><B>Adam
        Kaminsky</B></FONT></P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="background-color: white"><B>Michael
        Kaplan<BR>
        Davis Polk &amp; Wardwell LLP<BR>
        450 Lexington Avenue<BR>
        New York, New York 10017<BR>
        (212)&nbsp;450-4000</B></FONT></P>
</TD>
    <TD STYLE="width: 34%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Bradford Gay</B></P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>SVP, General
        Counsel<BR>
        American Well Corporation</B></P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>75 State Street,
        26th Floor</B></P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Boston, MA 02109</B></P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>(617)&nbsp;204-3500&nbsp;</B></P>
</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer, &rdquo; &ldquo;smaller reporting company&rdquo; and &ldquo;emerging
growth company&rdquo; in Rule 12b-2 of the Exchange Act. </B></P>

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Large accelerated filer </B></FONT>&#9744;</TD>
    <TD STYLE="width: 33%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Accelerated filer </B></FONT>&#9744;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Non-accelerated filer </B></FONT>&#9746;<FONT STYLE="font-size: 10pt"><B>&nbsp;(Do not check if a smaller reporting company)</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Smaller reporting company </B></FONT>&#9744;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Emerging Growth Company </B></FONT>&#9746;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. </FONT>&#9744;</P>

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


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CALCULATION OF REGISTRATION FEE</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 44%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Title of Securities to Be Registered</TD>
    <TD STYLE="width: 12%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Amount to Be Registered (1)</TD>
    <TD STYLE="width: 15%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Proposed Maximum Offering Price Per Share</TD>
    <TD STYLE="width: 15%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Proposed Maximum Aggregate Offering Price</TD>
    <TD STYLE="width: 14%; border-top: Black 1.5pt double; border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Amount of Registration Fee (4)</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><B>Class A Common Stock, $0.01 par value per share</B></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&mdash; American Well Corporation 2020 Equity Incentive Plan (the &ldquo;2020 Plan&rdquo;)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 27pt; text-indent: -9pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT> Restricted stock units outstanding </TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">685,031</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$18.00 (2)</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$12,330,558.00</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center">$1,600.51</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 27pt; text-indent: -9pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT> Shares available for future issuance</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">30,414,971</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$18.00 (2)</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$547,469,478.00</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center">$71,061.54</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&mdash; American Well Corporation 2020 Employee Stock Purchase Plan (the &ldquo;2020 ESPP&rdquo;)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 27pt; text-indent: -9pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT> Shares available for future issuance</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">3,074,725</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$18.00 (2)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$55,345,050.00</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">$7,183.79</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&mdash; American Well Corporation 2006 Amended and Restated Employee, Director and Consultant Stock Plan, as amended (the &ldquo;2006 Plan&rdquo;)</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp; </FONT>Stock options outstanding </TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">20,718,885</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$3.74</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$77,488,629.90</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center">$10,058.02</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp; </FONT>Restricted stock units outstanding</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">5,225,492</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$18.00 (2)</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$94,058,856.00</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center">$12,208.84</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><B>Class B Common Stock, $0.01 par value per share</B></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&mdash; 2006 Plan</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp; </FONT>Stock options outstanding</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">3,529,766</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$5.56 (3)</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$19,625,498.96</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center">$2,547.39</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 0.5in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp; </FONT>Restricted stock units outstanding</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">2,860,880</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$18.00 (2)</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">$51,495,840.00</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center">$6,684.16</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: center">Total</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: center">66,509,750</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: center">$857,813,910.86</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: center">$111,344.25</TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>In the event of a stock split, stock dividend or similar transaction involving the Registrant&rsquo;s Class A common stock,
$0.01 par value per share (&ldquo;Class A Common Stock&rdquo;) or Class B common stock, $0.01 par value per share (&ldquo;Class
B Common Stock&rdquo;), the number of shares registered hereby shall automatically be adjusted in accordance with Rule 416 under
the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) under the Securities
Act on the basis of the average of the high and low prices of the Registrant&rsquo;s Class A Common Stock on September 16, 2020.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Estimated in accordance with Rules 457(h) solely for the purpose of calculating the registration fee on the basis of the weighted-average
exercise price of the stock options outstanding under the 2006 Plan.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>Rounded up to the nearest cent.</TD></TR></TABLE>

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


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART I</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The information specified in Part I of
Form S-8 is omitted from this filing in accordance with the provisions of Rule 428 under the Securities Act and the introductory
note to Part I of the Form S-8 instructions. The documents containing the information specified in Part I will be delivered to
the participants in the 2020 Plan, the 2020 ESPP and the 2006 Plan, as specified by Rule 428(b)(1) under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 3. Incorporation of Documents by Reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The following documents filed by American
Well Corporation (&ldquo;Amwell&rdquo;, the &ldquo;Registrant&rdquo; or the &ldquo;Company&rdquo;) with the Securities and Exchange
Commission (the &ldquo;Commission&rdquo;) under the Securities Act or the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange
Act&rdquo;), are incorporated herein by reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a) &nbsp;The
prospectus dated September 18, 2020 filed by Amwell with the Commission pursuant to Rule 424(b) under the Securities Act relating
to the registration statement on Form S-1, as amended (Registration No. 333-248309) (the &ldquo;Form S-1 Registration Statement&rdquo;),
which contains the Company&rsquo;s audited financial statements for the latest fiscal year for which such statements have been
filed; and</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b) The description of the Registrant&rsquo;s
capital stock which is contained in the Company&rsquo;s Exchange Act Registration Statement on Form 8-A filed by Amwell with the
Commission on September 14, 2020 (Exchange Act File No. 001-39515), including any amendment or report filed for the purpose of
updating that description.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition, all documents subsequently
filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than documents or any information
therein deemed to have been furnished and not filed in accordance with rules of the Commission), prior to the filing of a post-effective
amendment to this Registration Statement, which indicates that all securities offered have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from
the date of the filing of such documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein (or in any other subsequently filed document which also is incorporated
or deemed to be incorporated by reference herein), modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4. Description of Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5. Interests of Named Experts and Counsel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 6. Indemnification of Directors and Officers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Section 145 of the
Delaware General Corporation Law provides that a corporation may indemnify directors and officers as well as other employees and
individuals against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by such person in connection with any threatened, pending or completed actions, suits or proceedings in which such person
is made a party by reason of such person being or having been a director, officer, employee or agent to the Registrant. The Delaware
General Corporation Law provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">entitled under any
bylaw, agreement, vote of stockholders or disinterested directors or otherwise. Article 7 of the Registrant&rsquo;s certificate
of incorporation provides for indemnification by the Registrant of its directors, officers and employees to the fullest extent
permitted by the Delaware General Corporation Law. The Registrant has entered into indemnification agreements with each of its
current directors and executive officers to provide these directors and executive officers additional contractual assurances regarding
the scope of the indemnification set forth in the Registrant&rsquo;s amended and restated certificate of incorporation and amended
and restated bylaws and to provide additional procedural protections. There is no pending litigation or proceeding involving a
director or executive officer of the Registrant for which indemnification is sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Section 102(b)(7)
of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director of
the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director, except for liability (i) for any breach of the director&rsquo;s duty of loyalty to the corporation or its stockholders,
(ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) for unlawful
payments of dividends or unlawful stock repurchases, redemptions or other distributions, or (iv) for any transaction from which
the director derived an improper personal benefit. The Registrant&rsquo;s certificate of incorporation provides for such limitation
of liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in">The Registrant maintains
standard policies of insurance under which coverage is provided (a) to its directors and officers against loss rising from claims
made by reason of breach of duty or other wrongful act, and (b) to the Registrant with respect to payments which may be made by
the Registrant to such officers and directors pursuant to the above indemnification provision or otherwise as a matter of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in">The form of underwriting
agreement filed as Exhibit 1 to the Form S-1 Registration Statement provides for indemnification of directors and officers of the
Registrant by the underwriters against certain liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 7. Exemption from Registration Claimed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 8. Exhibits.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid">Exhibit Number&nbsp;</P></TD>
    <TD STYLE="padding-left: 0.125in; width: 90%; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1393584/000119312520241132/d943395dex31.htm">Form of Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 of the Registrant&rsquo;s Amendment No. 1 to Registration Statement on Form S-1, No. 333-248309, filed on September 8, 2020)</A> </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1393584/000119312520241132/d943395dex32.htm">Form of Bylaws (incorporated by reference to Exhibit 3.2 of the Registrant&rsquo;s Amendment No. 1 to Registration Statement on Form S-1, No. 333-248309, filed on September 8, 2020)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex41.htm">Form of Common Stock Certificate (incorporated by reference to Exhibit 4.1 of the Registrant&rsquo;s Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">4.4</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex42.htm">Second Amended and Restated Investors&rsquo; Rights Agreement, dated October 8, 2010, as amended on November 1, 2016, May 29, 2018 and September 5, 2019 (incorporated by reference to Exhibits 4.2 through 4.5 of the Registrant&rsquo;s Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">5.1*</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><A HREF="dp136905_ex0501.htm"><FONT STYLE="font-size: 10pt">Opinion of Davis Polk &amp; Wardwell LLP</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">23.1*</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="dp136905_ex2301.htm">Consent of PricewaterhouseCoopers LLP</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">23.2*</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="dp136905_ex0501.htm">Consent of Davis Polk &amp; Wardwell LLP (included in Exhibit 5.1)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">24.1*</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="#poa">Powers of Attorney (included on signature page)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1393584/000119312520241132/d943395dex105.htm">2020 Equity Incentive Plan (incorporated by reference to Exhibit 10.5 of the Registrant&rsquo;s Amendment No. 1 to Registration Statement on Form S-1, No. 333-248309, filed on September 8, 2020)</A></FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font-size: 11pt"><FONT STYLE="font-size: 10pt">99.2*</FONT></TD>
    <TD STYLE="padding-left: 0.125in; width: 90%; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="dp136905_ex9902.htm">Form of RSU Agreement under the 2020 Equity Incentive Plan</A> </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">99.3</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex1023.htm">2020 Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.23 of the Registrant&rsquo;s Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020)</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">99.4</FONT></TD>
    <TD STYLE="padding-left: 0.125in; font-size: 11pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1393584/000119312520241132/d943395dex101.htm">Amended and Restated 2006 Employee, Director and Consultant Stock Plan, as amended (incorporated by reference to Exhibits 10.1 and 10.30 through 10.32 of the Registrant&rsquo;s Amendment No. 1 to Registration Statement on Form S-1, No. 333-248309, filed on September 8, 2020)</A></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">___________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-weight: normal">*</FONT></TD><TD><FONT STYLE="font-weight: normal">Filed herewith.</FONT></TD>
</TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 9. Undertakings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&nbsp;&nbsp;The
undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(1)&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>To include any prospectus required by Section 10(a)(3) of the Securities Act;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in this Registration Statement; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>To include any material information with respect to the Plans not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>provided</I>, <I>however</I>, that paragraphs (a)(1)(i)
and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed by the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference
in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(2)&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(3)&nbsp;&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b)&nbsp;&nbsp;The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant&rsquo;s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c)&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">person
of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant, American Well Corporation, certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf
by the undersigned, thereunto duly authorized, in the City of Boston, Commonwealth of Massachusetts, on the 18th day of September,
2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>AMERICAN WELL CORPORATION</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Ido Schoenberg</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="width: 29%">Ido Schoenberg</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="padding-left: 3.65pt; text-indent: -3.65pt">Chairman and co-Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Roy Schoenberg</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Roy Schoenberg</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="padding-left: 3.65pt; text-indent: -3.65pt">President and co-Chief Executive Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in"><B><A NAME="poa" TITLE="poa"></A>POWER OF ATTORNEY
AND SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Know all persons by these presents, that
each person whose signature appears below constitutes and appoints Ido Schoenberg, Roy Schoenberg and Bradford Gay, and each of
them, as his or her true and lawful attorney-in-fact and agents, upon the action of such appointee, with full power of substitution
and resubstitution, to do any and all acts and things and execute, in the name of the undersigned, any and all instruments which
each of said attorneys-in-fact and agents may deem necessary or advisable in order to enable American Well Corporation to comply
with the Securities Act, and any requirements of the Commission in respect thereof, in connection with the filing with the Commission
of this Registration Statement under the Securities Act, including specifically but without limitation, power and authority to
sign the name of the undersigned to such Registration Statement, and any amendments to such Registration Statement (including post-effective
amendments), and to file the same with all exhibits thereto and other documents in connection therewith, with the Commission, to
sign any and all applications, registration statements, notices or other documents necessary or advisable to comply with applicable
state securities laws, and to file the same, together with other documents in connection therewith with the appropriate state securities
authorities, granting unto each of said attorneys-in-fact and agents full power and authority to do and to perform each and every
act and thing requisite or necessary to be done in and about the premises, as fully and to all intents and purposes as the undersigned
might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact and agents may lawfully do
or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.15pt">Pursuant to the requirements of the Securities
Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.15pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 41%">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Signature</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="white-space: nowrap; width: 38%">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Title</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="white-space: nowrap; width: 21%">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>

        /s/ Ido Schoenberg<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ido Schoenberg, MD</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: center; text-indent: -12pt">Chairman and
        co-Chief Executive Officer</P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: center; text-indent: -12pt">(Principal
        Executive Officer and Director)</P>
</TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">September 18,&nbsp;2020</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>

        /s/ Roy Schoenberg<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Roy Schoenberg, MD, MPH</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: center; text-indent: -12pt">President and
        co-Chief Executive Officer</P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: center; text-indent: -12pt">(Principal
        Executive Officer and Director)</P>
</TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">September 18,&nbsp;2020</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">/s/ Keith Anderson</P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Keith Anderson</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: center; text-indent: -12pt">Chief Financial
        Officer</P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: center; text-indent: -12pt">(Principal
        Financial Officer)</P>
</TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">September 18,&nbsp;2020</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">/s/ Paul McNeice</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Paul McNeice</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-left: 12pt; font-size: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Vice President of Accounting<BR>
(Principal Accounting Officer)</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">September 18,&nbsp;2020</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">/s/ Deval Patrick</FONT></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 41%">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deval Patrick</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 38%; padding-left: 12pt; font-size: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 21%; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">September 18,&nbsp;2020</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 41%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 38%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 21%; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Brendan O&rsquo;Grady</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-left: 12pt; font-size: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt"> </FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dr.&nbsp;Peter Slavin</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: center; text-indent: -12pt">Director</P>
</TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dr.&nbsp;Nazim Cetin</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-left: 12pt; font-size: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Derek Ross</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-left: 12pt; font-size: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt"> </FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 41%">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Signature&nbsp;</B></P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="width: 38%">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Title</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="white-space: nowrap; width: 21%">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date</B></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 12pt; font-size: 12pt; text-align: center; text-indent: -12pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Stephen Schlegel</FONT>
    <!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stephen Schlegel</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-left: 12pt; font-size: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">September 18,&nbsp;2020</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 10pt">/s/ Dr. Delos Cosgrove</FONT></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dr.&nbsp;Delos (Toby) Cosgrove</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-left: 12pt; font-size: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">September 18,&nbsp;2020</FONT></TD></TR>
</TABLE>


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[{"type": "S-8", "sequence": "1", "filename": "dp136905_s8.htm", "description": "FORM S-8", "secsgml_size_bytes": 72241}]
{"company-data": {"conformed-name": "American Well Corp", "cik": "0001393584", "assigned-sic": "7389", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-248894", "film-number": "201183544"}, "business-address": {"street1": "75 STATE STREET", "street2": "26TH FLOOR", "city": "Boston", "state": "MA", "zip": "02109", "phone": "6172053500"}, "mail-address": {"street1": "75 STATE STREET", "street2": "26TH FLOOR", "city": "Boston", "state": "MA", "zip": "02109"}}
As filed with the Securities and Exchange
Commission on September 18, 2020
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
AMERICAN WELL CORPORATION
(Exact Name of Registrant as Specified in
its Charter)
Delaware
7372
20-5009396
(State or Other Jurisdiction of
Incorporation or Organization)
(Primary Standard Industrial Classification Code Number)
(I.R.S. Employer
Identification No.)
75 State Street, 26
th
Floor
Boston, MA 02109
(Address of Principal Executive Offices)
American Well Corporation 2020 Equity
        Incentive Plan
American Well Corporation 2020 Employee
        Stock Purchase Plan
American Well Corporation 2006 Amended and Restated Employee, Director and Consultant Stock Plan, as amended
(Full Titles of the Plans)
Ido
Schoenberg
Chairman,
Co-Chief Executive Officer
American
Well Corporation
75
State Street, 26th Floor
Boston,
MA 02109
(617) 204-3500
(Name,
Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)
With copies to:
Adam
        Kaminsky
Michael
        Kaplan
Davis Polk & Wardwell LLP
450 Lexington Avenue
New York, New York 10017
(212) 450-4000
Bradford Gay
SVP, General
        Counsel
American Well Corporation
75 State Street,
        26th Floor
Boston, MA 02109
(617) 204-3500
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions
of "large accelerated filer," "accelerated filer, " "smaller reporting company" and "emerging
growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
(Do not check if a smaller reporting company)
Smaller reporting company
☐
Emerging Growth Company
☒
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
☐
CALCULATION OF REGISTRATION FEE
Title of Securities to Be Registered
Amount to Be Registered (1)
Proposed Maximum Offering Price Per Share
Proposed Maximum Aggregate Offering Price
Amount of Registration Fee (4)
Class A Common Stock, $0.01 par value per share
— American Well Corporation 2020 Equity Incentive Plan (the "2020 Plan")
§
Restricted stock units outstanding
685,031
$18.00 (2)
$12,330,558.00
$1,600.51
§
Shares available for future issuance
30,414,971
$18.00 (2)
$547,469,478.00
$71,061.54
— American Well Corporation 2020 Employee Stock Purchase Plan (the "2020 ESPP")
§
Shares available for future issuance
3,074,725
$18.00 (2)
$55,345,050.00
$7,183.79
— American Well Corporation 2006 Amended and Restated Employee, Director and Consultant Stock Plan, as amended (the "2006 Plan")
§
Stock options outstanding
20,718,885
$3.74
$77,488,629.90
$10,058.02
§
Restricted stock units outstanding
5,225,492
$18.00 (2)
$94,058,856.00
$12,208.84
Class B Common Stock, $0.01 par value per share
— 2006 Plan
§
Stock options outstanding
3,529,766
$5.56 (3)
$19,625,498.96
$2,547.39
§
Restricted stock units outstanding
2,860,880
$18.00 (2)
$51,495,840.00
$6,684.16
Total
66,509,750
$857,813,910.86
$111,344.25
(1)
In the event of a stock split, stock dividend or similar transaction involving the Registrant's Class A common stock,
$0.01 par value per share ("Class A Common Stock") or Class B common stock, $0.01 par value per share ("Class
B Common Stock"), the number of shares registered hereby shall automatically be adjusted in accordance with Rule 416 under
the Securities Act of 1933, as amended (the "Securities Act").
(2)
Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) under the Securities
Act on the basis of the average of the high and low prices of the Registrant's Class A Common Stock on September 16, 2020.
(3)
Estimated in accordance with Rules 457(h) solely for the purpose of calculating the registration fee on the basis of the weighted-average
exercise price of the stock options outstanding under the 2006 Plan.
(4)
Rounded up to the nearest cent.
PART I
The information specified in Part I of
Form S-8 is omitted from this filing in accordance with the provisions of Rule 428 under the Securities Act and the introductory
note to Part I of the Form S-8 instructions. The documents containing the information specified in Part I will be delivered to
the participants in the 2020 Plan, the 2020 ESPP and the 2006 Plan, as specified by Rule 428(b)(1) under the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by American
Well Corporation ("Amwell", the "Registrant" or the "Company") with the Securities and Exchange
Commission (the "Commission") under the Securities Act or the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), are incorporated herein by reference:
(a)  The
prospectus dated September 18, 2020 filed by Amwell with the Commission pursuant to Rule 424(b) under the Securities Act relating
to the registration statement on Form S-1, as amended (Registration No. 333-248309) (the "Form S-1 Registration Statement"),
which contains the Company's audited financial statements for the latest fiscal year for which such statements have been
filed; and
(b) The description of the Registrant's
capital stock which is contained in the Company's Exchange Act Registration Statement on Form 8-A filed by Amwell with the
Commission on September 14, 2020 (Exchange Act File No. 001-39515), including any amendment or report filed for the purpose of
updating that description.
In addition, all documents subsequently
filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than documents or any information
therein deemed to have been furnished and not filed in accordance with rules of the Commission), prior to the filing of a post-effective
amendment to this Registration Statement, which indicates that all securities offered have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from
the date of the filing of such documents.
Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein (or in any other subsequently filed document which also is incorporated
or deemed to be incorporated by reference herein), modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Section 145 of the
Delaware General Corporation Law provides that a corporation may indemnify directors and officers as well as other employees and
individuals against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by such person in connection with any threatened, pending or completed actions, suits or proceedings in which such person
is made a party by reason of such person being or having been a director, officer, employee or agent to the Registrant. The Delaware
General Corporation Law provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be
3
entitled under any
bylaw, agreement, vote of stockholders or disinterested directors or otherwise. Article 7 of the Registrant's certificate
of incorporation provides for indemnification by the Registrant of its directors, officers and employees to the fullest extent
permitted by the Delaware General Corporation Law. The Registrant has entered into indemnification agreements with each of its
current directors and executive officers to provide these directors and executive officers additional contractual assurances regarding
the scope of the indemnification set forth in the Registrant's amended and restated certificate of incorporation and amended
and restated bylaws and to provide additional procedural protections. There is no pending litigation or proceeding involving a
director or executive officer of the Registrant for which indemnification is sought.
Section 102(b)(7)
of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director of
the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director, except for liability (i) for any breach of the director's duty of loyalty to the corporation or its stockholders,
(ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) for unlawful
payments of dividends or unlawful stock repurchases, redemptions or other distributions, or (iv) for any transaction from which
the director derived an improper personal benefit. The Registrant's certificate of incorporation provides for such limitation
of liability.
The Registrant maintains
standard policies of insurance under which coverage is provided (a) to its directors and officers against loss rising from claims
made by reason of breach of duty or other wrongful act, and (b) to the Registrant with respect to payments which may be made by
the Registrant to such officers and directors pursuant to the above indemnification provision or otherwise as a matter of law.
The form of underwriting
agreement filed as Exhibit 1 to the Form S-1 Registration Statement provides for indemnification of directors and officers of the
Registrant by the underwriters against certain liabilities.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit Number
4.1
Form of Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 of the Registrant's Amendment No. 1 to Registration Statement on Form S-1, No. 333-248309, filed on September 8, 2020)
4.2
Form of Bylaws (incorporated by reference to Exhibit 3.2 of the Registrant's Amendment No. 1 to Registration Statement on Form S-1, No. 333-248309, filed on September 8, 2020)
4.3
Form of Common Stock Certificate (incorporated by reference to Exhibit 4.1 of the Registrant's Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020)
4.4
Second Amended and Restated Investors' Rights Agreement, dated October 8, 2010, as amended on November 1, 2016, May 29, 2018 and September 5, 2019 (incorporated by reference to Exhibits 4.2 through 4.5 of the Registrant's Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020)
5.1*
Opinion of Davis Polk & Wardwell LLP
23.1*
Consent of PricewaterhouseCoopers LLP
23.2*
Consent of Davis Polk & Wardwell LLP (included in Exhibit 5.1)
24.1*
Powers of Attorney (included on signature page)
99.1
2020 Equity Incentive Plan (incorporated by reference to Exhibit 10.5 of the Registrant's Amendment No. 1 to Registration Statement on Form S-1, No. 333-248309, filed on September 8, 2020)
4
99.2*
Form of RSU Agreement under the 2020 Equity Incentive Plan
99.3
2020 Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.23 of the Registrant's Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020)
99.4
Amended and Restated 2006 Employee, Director and Consultant Stock Plan, as amended (incorporated by reference to Exhibits 10.1 and 10.30 through 10.32 of the Registrant's Amendment No. 1 to Registration Statement on Form S-1, No. 333-248309, filed on September 8, 2020)
___________
*
Filed herewith.
Item 9. Undertakings.
(a)  The
undersigned Registrant hereby undertakes:
(1)  To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in this Registration Statement; and
(iii)
To include any material information with respect to the Plans not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided
,
however
, that paragraphs (a)(1)(i)
and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed by the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference
in this Registration Statement.
(2)  That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
(3)  To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b)  The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)  Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling
5
person
of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
6
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant, American Well Corporation, certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf
by the undersigned, thereunto duly authorized, in the City of Boston, Commonwealth of Massachusetts, on the 18th day of September,
2020.
AMERICAN WELL CORPORATION
By:
/s/ Ido Schoenberg
Name:
Ido Schoenberg
Title:
Chairman and co-Chief Executive Officer
By:
/s/ Roy Schoenberg
Name:
Roy Schoenberg
Title:
President and co-Chief Executive Officer
7
POWER OF ATTORNEY
AND SIGNATURES
Know all persons by these presents, that
each person whose signature appears below constitutes and appoints Ido Schoenberg, Roy Schoenberg and Bradford Gay, and each of
them, as his or her true and lawful attorney-in-fact and agents, upon the action of such appointee, with full power of substitution
and resubstitution, to do any and all acts and things and execute, in the name of the undersigned, any and all instruments which
each of said attorneys-in-fact and agents may deem necessary or advisable in order to enable American Well Corporation to comply
with the Securities Act, and any requirements of the Commission in respect thereof, in connection with the filing with the Commission
of this Registration Statement under the Securities Act, including specifically but without limitation, power and authority to
sign the name of the undersigned to such Registration Statement, and any amendments to such Registration Statement (including post-effective
amendments), and to file the same with all exhibits thereto and other documents in connection therewith, with the Commission, to
sign any and all applications, registration statements, notices or other documents necessary or advisable to comply with applicable
state securities laws, and to file the same, together with other documents in connection therewith with the appropriate state securities
authorities, granting unto each of said attorneys-in-fact and agents full power and authority to do and to perform each and every
act and thing requisite or necessary to be done in and about the premises, as fully and to all intents and purposes as the undersigned
might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact and agents may lawfully do
or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities
Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:
Signature
Title
Date
/s/ Ido Schoenberg
Ido Schoenberg, MD
Chairman and
        co-Chief Executive Officer
(Principal
        Executive Officer and Director)
September 18, 2020
/s/ Roy Schoenberg
Roy Schoenberg, MD, MPH
President and
        co-Chief Executive Officer
(Principal
        Executive Officer and Director)
September 18, 2020
/s/ Keith Anderson
Keith Anderson
Chief Financial
        Officer
(Principal
        Financial Officer)
September 18, 2020
/s/ Paul McNeice
Paul McNeice
Vice President of Accounting
(Principal Accounting Officer)
September 18, 2020
/s/ Deval Patrick
Deval Patrick
Director
September 18, 2020
Brendan O'Grady
Director
Dr. Peter Slavin
Director
Dr. Nazim Cetin
Director
Derek Ross
Director
Signature
Title
Date
/s/ Stephen Schlegel
Stephen Schlegel
Director
September 18, 2020
/s/ Dr. Delos Cosgrove
Dr. Delos (Toby) Cosgrove
Director
September 18, 2020