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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 February 16, 2024</B></P>

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

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

<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></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"><B>THE SECURITIES ACT OF 1933</B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMERICAN WELL CORPORATION</B></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: 33%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-size: 10pt"><B>7372</B></FONT></TD>
    <TD STYLE="width: 33%; text-align: center"><FONT STYLE="font-size: 10pt"><B>20-5009396</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction of <BR>
Incorporation or Organization)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Primary Standard Industrial Classification Code Number)</FONT></TD>
    <TD STYLE="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="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="text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="width: 100%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Address of Principal Executive Offices)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
</TD></TR>
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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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</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>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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    <TD STYLE="width: 33%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 34%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><B>Ido Schoenberg</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><B>Chairman, Co-Chief
Executive Officer</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><B>American Well
Corporation</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><B>75 State Street,
26th Floor</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><B>Boston, MA 02109</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><B>(617)&nbsp;204-3500&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name, Address,
Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)</B></P></TD>
    <TD STYLE="width: 33%; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="width: 100%; font-size: 10pt; text-align: center"><I>With copies to:</I></TD></TR>
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    <TD STYLE="vertical-align: top; width: 34%">
    <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: 33%; 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>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 62%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Large accelerated filer </B></FONT>&#9744;</TD>
    <TD STYLE="width: 38%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Accelerated filer </B></FONT>&#9746;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Non-accelerated filer </B></FONT>&#9744;<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>&#9744;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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>

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


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

<P STYLE="font: 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 General Instruction E to Form S-8,
American Well Corporation (the &ldquo;Registrant&rdquo;) is filing this Registration Statement on Form S-8 (this &ldquo;Registration Statement&rdquo;)
with the U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;) to register additional shares of Class A common stock,
$0.01 par value per share, of the Registrant (&ldquo;Class A Common Stock&rdquo;) for issuance under the 2020 Equity Incentive Plan (the
&ldquo;2020 Plan&rdquo;) and the 2020 Employee Stock Purchase Plan (&ldquo;2020 ESPP&rdquo;). The number of shares of Class A Common Stock
available for issuance under the 2020 Plan is subject to an annual increase on the first day of each calendar year beginning on January
1, 2021 and ending on (and including) January 1, 2029 by an amount equal to the lesser of (i) five percent (5%) of the number of shares
of all classes of the Registrant&rsquo;s common stock outstanding on the last day of the immediately preceding fiscal year and (ii) such
smaller number of shares of all classes of the Registrant&rsquo;s common stock as determined by the Registrant&rsquo;s Board of Directors
(the &ldquo;Board&rdquo;) (the &ldquo;2020 Plan Evergreen Provision&rdquo;). The number of shares of Class A Common Stock available for
issuance under the 2020 ESPP is subject to an annual increase on the first day of each calendar year beginning on January 1, 2021 and
ending on (and including) January 1, 2029 by an amount equal to the least of (i) one percent (1%) of the number of shares of Class A Common
Stock outstanding as of <FONT STYLE="background-color: white">the date on which the registration statement covering the initial public
offering of Class A Common Stock was declared effective by the Commission</FONT>, (ii) one percent (1%) of number of shares of all classes
of the Registrant&rsquo;s common stock outstanding on the final day of the immediately preceding calendar year or (iii) such smaller number
of shares of Class A Common Stock as determined by the Board (the &ldquo;ESPP Evergreen Provision&rdquo;). On January 1, 2024, the number
of shares of Class A Common Stock available for issuance pursuant to the 2020 Plan Evergreen Provision and the ESPP Evergreen Provision
increased by 14,424,425 and 1,981,644 shares, respectively (the &ldquo;2024 Evergreen Shares&rdquo;). This Registration Statement registers
the 2024 Evergreen Shares.</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">This Registration Statement hereby incorporates
by reference the contents of the Registrant&rsquo;s Registration Statements on Form S-8 filed with the Commission on September 18, 2020
(File No. 333-248894), on June 24, 2022 (File No. 333-265834) and on October 6, 2023 (File No. 333-274896), to the extent not superseded
hereby.</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">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3. Incorporation of Documents by Reference.</B></P>

<P STYLE="font: 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 the Registrant
with the Commission under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a) The Registrant&rsquo;s Annual Report on Form
10-K for the fiscal year ended December 31, 2023 filed by the Registrant with the Commission on February 15, 2024, which contains the
Company&rsquo;s audited financial statements for the latest fiscal year for which such statements have been filed; and</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">(d) The description of the Registrant&rsquo;s
securities included in Exhibit 4.7 to the Registrant&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2023.</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 Registrant 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 8. Exhibits.</P>

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

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  <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</P></TD>
    <TD STYLE="width: 90%; font-size: 11pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520241132/d943395dex31.htm"><FONT STYLE="font-size: 10pt">4.1</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520241132/d943395dex31.htm"><FONT STYLE="font-size: 10pt">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) </FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520241132/d943395dex32.htm"><FONT STYLE="font-size: 10pt">4.2</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520241132/d943395dex32.htm"><FONT STYLE="font-size: 10pt">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)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex41.htm"><FONT STYLE="font-size: 10pt">4.3</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex41.htm"><FONT STYLE="font-size: 10pt">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)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">4.4</FONT></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">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&nbsp;<A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex42.htm">4.2</A>,&nbsp;<A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex43.htm">4.3</A>,&nbsp;<A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex44.htm">4.4</A>&nbsp;and&nbsp;<A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex45.htm">4.5</A> of the Registrant&rsquo;s Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020) and <A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000095010320018402/dp137028_ex1001.htm">Amendment No. 5 and Joinder to Second Amended and Restated Investors&rsquo; Right Agreement, dated September 21, 2020 (incorporated by reference to Exhibit 10.1 of the Registrations Current Report on Form 8-K, No. 001-39515, filed on September 22, 2020)</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="dp206851_ex0501.htm"><FONT STYLE="font-size: 10pt">5.1*</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="dp206851_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="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="dp206851_ex2301.htm"><FONT STYLE="font-size: 10pt">23.1*</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="dp206851_ex2301.htm"><FONT STYLE="font-size: 10pt">Consent of PricewaterhouseCoopers LLP</FONT></A></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; 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</P></TD>
    <TD STYLE="font-size: 11pt; width: 90%">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; width: 10%; font-size: 11pt; padding-bottom: 4pt"><A HREF="dp206851_ex0501.htm"><FONT STYLE="font-size: 10pt">23.2*</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; width: 90%; font-size: 11pt; padding-bottom: 4pt"><A HREF="dp206851_ex0501.htm"><FONT STYLE="font-size: 10pt">Consent of Davis Polk &amp; Wardwell LLP (included in Exhibit 5.1)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="#poa"><FONT STYLE="font-size: 10pt">24.1*</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="#poa"><FONT STYLE="font-size: 10pt">Powers of Attorney (included on signature page)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex105.htm"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex105.htm"><FONT STYLE="font-size: 10pt">2020 Equity Incentive Plan (incorporated by reference to Exhibit 10.5 of the Registrant&rsquo;s Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex1023.htm"><FONT STYLE="font-size: 10pt">99.3</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1393584/000119312520228478/d943395dex1023.htm"><FONT STYLE="font-size: 10pt">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)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="dp206851_exfilingfees.htm"><FONT STYLE="font-size: 10pt">107*</FONT></A></TD>
    <TD STYLE="padding-top: 4pt; font-size: 11pt; padding-bottom: 4pt"><A HREF="dp206851_exfilingfees.htm"><FONT STYLE="font-size: 10pt">Filing Fee Table</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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


<P STYLE="margin: 0"></P>

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<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"><FONT STYLE="font-weight: normal">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed
herewith.</FONT></P>

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


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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, 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 16<SUP>th</SUP> day of February, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</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 STYLE="font-size: 10pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/ Ido Schoenberg</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 5%; font-size: 10pt">Name:</TD>
    <TD STYLE="width: 41%; font-size: 10pt">Ido Schoenberg</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title:</TD>
    <TD STYLE="padding-left: 3.65pt; font-size: 10pt; text-indent: -3.65pt">Chairman and co-Chief Executive Officer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/ Roy Schoenberg</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Name:</TD>
    <TD STYLE="font-size: 10pt">Roy Schoenberg</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Title:</TD>
    <TD STYLE="padding-left: 3.65pt; font-size: 10pt; text-indent: -3.65pt">President and co-Chief Executive Officer</TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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"></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, 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>

<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="padding-right: 6pt; white-space: nowrap; width: 42%">
    <P STYLE="font: 10pt 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="padding-right: 6pt; white-space: nowrap; width: 38%">
    <P STYLE="font: 10pt 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="padding-right: 6pt; white-space: nowrap; width: 20%">
    <P STYLE="font: 10pt 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>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 6pt; width: 42%">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; width: 38%">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; width: 20%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; border-bottom: Black 1pt solid; font-size: 12pt"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Ido Schoenberg&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Chairman and co-Chief Executive Officer<BR>
(Principal Executive Officer and Director)</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; font-size: 12pt"><FONT STYLE="font-size: 10pt">Ido Schoenberg, MD</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Roy Schoenberg</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">President and co-Chief Executive Officer<BR>
(Principal Executive Officer and Director)</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt"><FONT STYLE="font-size: 10pt">Roy Schoenberg, MD, MPH</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; border-bottom: Black 1pt solid; font-size: 12pt"><FONT STYLE="font-size: 10pt">/s/ Robert Shepardson&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Chief Financial Officer<BR>
(Principal Financial Officer)</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; font-size: 12pt"><FONT STYLE="font-size: 10pt">Robert Shepardson</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; border-bottom: Black 1pt solid; font-size: 12pt"><FONT STYLE="font-size: 10pt">/s/ Paul McNeice</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Chief Accounting Officer<BR>
(Principal Accounting Officer)</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; font-size: 12pt"><FONT STYLE="font-size: 10pt">Paul McNeice</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; border-bottom: Black 1pt solid; font-size: 12pt"><FONT STYLE="font-size: 10pt">/s/ Deval Patrick</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; font-size: 12pt"><FONT STYLE="font-size: 10pt">Deval Patrick</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; border-bottom: Black 1pt solid; font-size: 12pt"><FONT STYLE="font-size: 10pt">/s/ Stephen Schlegel</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; font-size: 12pt"><FONT STYLE="font-size: 10pt">Stephen Schlegel</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Dr. Peter Slavin</P></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; font-size: 12pt"><FONT STYLE="font-size: 10pt">Dr.&nbsp;Peter Slavin</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; border-bottom: Black 1pt solid; font-size: 12pt"><FONT STYLE="font-size: 10pt">/s/ Derek Ross</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; font-size: 12pt"><FONT STYLE="font-size: 10pt">Derek Ross</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt">&nbsp;</TD></TR>
  </TABLE>

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


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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="padding-right: 6pt; white-space: nowrap; width: 42%">
    <P STYLE="font: 10pt 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="padding-right: 6pt; white-space: nowrap; width: 38%">
    <P STYLE="font: 10pt 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="padding-right: 6pt; white-space: nowrap; width: 20%">
    <P STYLE="font: 10pt 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>
</TABLE>

</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 STYLE="width: 42%">&nbsp;</TD>
    <TD STYLE="width: 38%; padding-left: 12pt; text-align: center; text-indent: -12pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; font-size: 11pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Dr. Delos (Toby) Cosgrove</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-left: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Dr.&nbsp;Delos (Toby) Cosgrove</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 STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Deborah Jackson</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-left: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Deborah Jackson</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 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 STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Rob Webb </FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-left: 12pt; text-align: center; text-indent: -12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; font-size: 11pt; text-align: center"><FONT STYLE="font-size: 10pt">February 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Rob Webb</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>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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[{"type": "S-8", "sequence": "1", "filename": "dp206851_s8.htm", "description": "FORM S-8", "secsgml_size_bytes": 47714}]
{"company-data": {"conformed-name": "American Well Corp", "cik": "0001393584", "assigned-sic": "7389", "organization-name": "07 Trade & Services", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-277153", "film-number": "24649237"}, "business-address": {"street1": "75 STATE STREET", "street2": "26TH FLOOR", "city": "Boston", "state": "MA", "zip": "02109", "phone": "617-205-3500"}, "mail-address": {"street1": "75 STATE STREET", "street2": "26TH FLOOR", "city": "Boston", "state": "MA", "zip": "02109"}}
As filed with the Securities and Exchange Commission
on February 16, 2024
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
(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.
☐
EXPLANATORY NOTE
Pursuant to General Instruction E to Form S-8,
American Well Corporation (the "Registrant") is filing this Registration Statement on Form S-8 (this "Registration Statement")
with the U.S. Securities and Exchange Commission (the "Commission") to register additional shares of Class A common stock,
$0.01 par value per share, of the Registrant ("Class A Common Stock") for issuance under the 2020 Equity Incentive Plan (the
"2020 Plan") and the 2020 Employee Stock Purchase Plan ("2020 ESPP"). The number of shares of Class A Common Stock
available for issuance under the 2020 Plan is subject to an annual increase on the first day of each calendar year beginning on January
1, 2021 and ending on (and including) January 1, 2029 by an amount equal to the lesser of (i) five percent (5%) of the number of shares
of all classes of the Registrant's common stock outstanding on the last day of the immediately preceding fiscal year and (ii) such
smaller number of shares of all classes of the Registrant's common stock as determined by the Registrant's Board of Directors
(the "Board") (the "2020 Plan Evergreen Provision"). The number of shares of Class A Common Stock available for
issuance under the 2020 ESPP is subject to an annual increase on the first day of each calendar year beginning on January 1, 2021 and
ending on (and including) January 1, 2029 by an amount equal to the least of (i) one percent (1%) of the number of shares of Class A Common
Stock outstanding as of
the date on which the registration statement covering the initial public
offering of Class A Common Stock was declared effective by the Commission
, (ii) one percent (1%) of number of shares of all classes
of the Registrant's common stock outstanding on the final day of the immediately preceding calendar year or (iii) such smaller number
of shares of Class A Common Stock as determined by the Board (the "ESPP Evergreen Provision"). On January 1, 2024, the number
of shares of Class A Common Stock available for issuance pursuant to the 2020 Plan Evergreen Provision and the ESPP Evergreen Provision
increased by 14,424,425 and 1,981,644 shares, respectively (the "2024 Evergreen Shares"). This Registration Statement registers
the 2024 Evergreen Shares.
This Registration Statement hereby incorporates
by reference the contents of the Registrant's Registration Statements on Form S-8 filed with the Commission on September 18, 2020
(File No. 333-248894), on June 24, 2022 (File No. 333-265834) and on October 6, 2023 (File No. 333-274896), to the extent not superseded
hereby.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by the Registrant
with the Commission under the Securities Act of 1933, as amended (the "Securities Act") or the Securities Exchange Act of
1934, as amended (the "Exchange Act"), are incorporated herein by reference:
(a) The Registrant's Annual Report on Form
10-K for the fiscal year ended December 31, 2023 filed by the Registrant with the Commission on February 15, 2024, which contains the
Company's audited financial statements for the latest fiscal year for which such statements have been filed; and
(d) The description of the Registrant's
securities included in Exhibit 4.7 to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
In addition, all documents subsequently filed
by the Registrant 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 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
,
4.3
,
4.4
and
4.5
of the Registrant's Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020) and
Amendment No. 5 and Joinder to Second Amended and Restated Investors' Right Agreement, dated September 21, 2020 (incorporated by reference to Exhibit 10.1 of the Registrations Current Report on Form 8-K, No. 001-39515, filed on September 22, 2020)
5.1*
Opinion of Davis Polk & Wardwell LLP
23.1*
Consent of PricewaterhouseCoopers LLP
3
Exhibit Number
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 Registration Statement on Form S-1, No. 333-248309, filed on August 24, 2020)
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)
107*
Filing Fee Table
*       Filed
herewith.
4
SIGNATURES
Pursuant to the requirements of the Securities
Act, 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 16
th
day of February, 2024.
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
5
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, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:
Signature
Title
Date
/s/ Ido Schoenberg
Chairman and co-Chief Executive Officer
(Principal Executive Officer and Director)
February 16, 2024
Ido Schoenberg, MD
/s/ Roy Schoenberg
President and co-Chief Executive Officer
(Principal Executive Officer and Director)
February 16, 2024
Roy Schoenberg, MD, MPH
/s/ Robert Shepardson
Chief Financial Officer
(Principal Financial Officer)
February 16, 2024
Robert Shepardson
/s/ Paul McNeice
Chief Accounting Officer
(Principal Accounting Officer)
February 16, 2024
Paul McNeice
/s/ Deval Patrick
Director
February 16, 2024
Deval Patrick
/s/ Stephen Schlegel
Director
February 16, 2024
Stephen Schlegel
/s/ Dr. Peter Slavin
Director
February 16, 2024
Dr. Peter Slavin
/s/ Derek Ross
Director
February 16, 2024
Derek Ross
Signature
Title
Date
/s/ Dr. Delos (Toby) Cosgrove
Director
February 16, 2024
Dr. Delos (Toby) Cosgrove
/s/ Deborah Jackson
Director
February 16, 2024
Deborah Jackson
/s/ Rob Webb
Director
February 16, 2024
Rob Webb