Document ID: 2543

Text:
1. | Base salary. Employer will pay to Employee a base salary at an annual rate of $185,000 for the calendar year 2017, which will be increased to $200,000 for the calendar year 2018 (as adjusted, the "Base salary"), payable in accordance with Employer's customary payroll practices as in effect from time to time. The Base salary shall be reviewed in a manner consistent with Employer's compensation program. ---|--- 2. | Bonuses; Additional compensation. Employee may be eligible to receive bonuses and to participate in incentive compensation plans of Employer in accordance with any plan or decision that the Board, or any committee or other person authorized by the Board, may in its sole discretion determine from time to time. ---|--- 3. | Reimbursement of Expenses. Employee shall be paid or reimbursed by Employer, in accordance with and subject to Employer's general expense reimbursement policies and practices and Employer's receipt of evidence of such expenses reasonably satisfactory to Employer, for all reasonable travel and other business expenses incurred by Employee in performing his obligations under this Agreement. Further, Employer will pay for a mobile phone and mobile telephone usage charges on behalf of Employee. ---|--- 4. | Benefits. Employee shall be eligible to earn and accrue vacation in accordance with Employer's policies in effect from time to time. In addition, Employee shall be eligible to participate in Employer's medical, vision and dental insurance programs, 401(k), and other employee benefit or welfare plan, program, or arrangement that Employer has or may from time to time establish or sponsor for the benefit of Employer's employees, upon Employee meeting any qualifications for participation in such plan(s), program(s), or arrangement(s). Employer will pay on behalf of Employee 100% of the health insurance premiums for Employee. ---|--- 5. | Incentive compensation. ---|--- | o | Beginning on and measured from the Effective Date, for calendar year 2017, Employee will be granted a fully-vested option to purchase 9,000 shares of Employer's common stock each calendar quarter, provided Summer LLC's average quarterly sales volume exceeds 15,000,000 KWh for such quarter and new sales volume, pursuant to Employer's internal energy schedule, exceeds $0.002 for such quarter (specifically, EBITDA after Interest Expense divided by Total Kwh Delivered after losses. Provided such metrics were met for a particular quarter, Employer will grant said options as promptly as possible following the end of such fiscal quarter with a strike price equal to the greater of (i) fair market value of a share of stock on the date of grant or (ii) $2.50 per share. Such option will be granted pursuant to the terms and conditions of a Stock Option Grant Agreement and the Employer's 2015 Stock Option and Stock Award Plan. ---|---|--- | o | Additional options may be granted by Employer for calendar year 2018 based on metrics determined by the Board on or before January 1, 2018 . ---|---|--- Restricted Territory:

Named Entities:
19
22
Salary
34
37
Salary
370
371
Percentage
428
430
Shares
553
556
Price
573
576
Title

Tokenized Text:
1
.
|
Base
salary
.
Employer
will
pay
to
Employee
a
base
salary
at
an
annual
rate
of
$
185
,
000
for
the
calendar
year
2017
,
which
will
be
increased
to
$
200
,
000
for
the
calendar
year
2018
(
as
adjusted
,
the
"
Base
salary
"
)
,
payable
in
accordance
with
Employer
'
s
customary
payroll
practices
as
in
effect
from
time
to
time
.
The
Base
salary
shall
be
reviewed
in
a
manner
consistent
with
Employer
'
s
compensation
program
.
-
-
-
|
-
-
-
2
.
|
Bonuses
;
Additional
compensation
.
Employee
may
be
eligible
to
receive
bonuses
and
to
participate
in
incentive
compensation
plans
of
Employer
in
accordance
with
any
plan
or
decision
that
the
Board
,
or
any
committee
or
other
person
authorized
by
the
Board
,
may
in
its
sole
discretion
determine
from
time
to
time
.
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-
-
|
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-
-
3
.
|
Reimbursement
of
Expenses
.
Employee
shall
be
paid
or
reimbursed
by
Employer
,
in
accordance
with
and
subject
to
Employer
'
s
general
expense
reimbursement
policies
and
practices
and
Employer
'
s
receipt
of
evidence
of
such
expenses
reasonably
satisfactory
to
Employer
,
for
all
reasonable
travel
and
other
business
expenses
incurred
by
Employee
in
performing
his
obligations
under
this
Agreement
.
Further
,
Employer
will
pay
for
a
mobile
phone
and
mobile
telephone
usage
charges
on
behalf
of
Employee
.
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-
-
|
-
-
-
4
.
|
Benefits
.
Employee
shall
be
eligible
to
earn
and
accrue
vacation
in
accordance
with
Employer
'
s
policies
in
effect
from
time
to
time
.
In
addition
,
Employee
shall
be
eligible
to
participate
in
Employer
'
s
medical
,
vision
and
dental
insurance
programs
,
401
(
k
)
,
and
other
employee
benefit
or
welfare
plan
,
program
,
or
arrangement
that
Employer
has
or
may
from
time
to
time
establish
or
sponsor
for
the
benefit
of
Employer
'
s
employees
,
upon
Employee
meeting
any
qualifications
for
participation
in
such
plan
(
s
)
,
program
(
s
)
,
or
arrangement
(
s
)
.
Employer
will
pay
on
behalf
of
Employee
100
%
of
the
health
insurance
premiums
for
Employee
.
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-
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|
-
-
-
5
.
|
Incentive
compensation
.
-
-
-
|
-
-
-
|
o
|
Beginning
on
and
measured
from
the
Effective
Date
,
for
calendar
year
2017
,
Employee
will
be
granted
a
fully
-
vested
option
to
purchase
9
,
000
shares
of
Employer
'
s
common
stock
each
calendar
quarter
,
provided
Summer
LLC
'
s
average
quarterly
sales
volume
exceeds
15
,
000
,
000
KWh
for
such
quarter
and
new
sales
volume
,
pursuant
to
Employer
'
s
internal
energy
schedule
,
exceeds
$
0
.
002
for
such
quarter
(
specifically
,
EBITDA
after
Interest
Expense
divided
by
Total
Kwh
Delivered
after
losses
.
Provided
such
metrics
were
met
for
a
particular
quarter
,
Employer
will
grant
said
options
as
promptly
as
possible
following
the
end
of
such
fiscal
quarter
with
a
strike
price
equal
to
the
greater
of
(
i
)
fair
market
value
of
a
share
of
stock
on
the
date
of
grant
or
(
ii
)
$
2
.
50
per
share
.
Such
option
will
be
granted
pursuant
to
the
terms
and
conditions
of
a
Stock
Option
Grant
Agreement
and
the
Employer
'
s
2015
Stock
Option
and
Stock
Award
Plan
.
-
-
-
|
-
-
-
|
-
-
-
|
o
|
Additional
options
may
be
granted
by
Employer
for
calendar
year
2018
based
on
metrics
determined
by
the
Board
on
or
before
January
1
,
2018
.
-
-
-
|
-
-
-
|
-
-
-
Restricted
Territory
: