Exhibit 10.9


 


FINAL FORM


 


EXECUTIVE EMPLOYMENT AGREEMENT


 





This Executive Employment
Agreement (the “Agreement”) is entered into as of [DATE], by and between [EXECUTIVE] (“Executive”)
and Star Peak Energy Transition Corp., a Delaware corporation (the “Company”).


 


WHEREAS, Executive
has been serving as the [POSITION] of Stem, Inc. (“Stem”) pursuant to that certain employment offer letter
agreement, dated [●], by and between Stem and Executive (the “Prior Agreement”);


 


WHEREAS, Stem
has entered into that certain Agreement and Plan of Merger, dated December 3, 2020, by and among the Company, STPK Merger
Sub Corp., a Delaware corporation, a wholly-owned Subsidiary of the Company (“Merger Sub”), and the Company
(such agreement, the “Merger Agreement”);


 


WHEREAS, pursuant
to the terms of the Merger Agreement, Merger Sub will merge with and into Stem with Stem continuing as the surviving company and
a wholly-owned subsidiary of the Company (the “Merger”), and following the consummation of the Merger, the Company
will be named Stem, Inc.;


 


WHEREAS, the
Company wishes to employ, and Executive wishes to accept employment with the Company, as the [POSITION] of the Company, pursuant
to the terms and conditions set forth in this Agreement, effective as of the date of the consummation of the Merger (the “Effective
Date”).


 


NOW, THEREFORE,
in consideration of the mutual promises and covenants contained herein, it is hereby agreed by and between the parties hereto as
follows:


 


ARTICLE I

DEFINITIONS


 


For purposes of the
Agreement, the following terms are defined as follows:


 


1.1.         “Board”
means the Board of Directors of the Company.


 


1.2.         “Cause”
means a good faith determination by the Board that Executive’s employment be terminated for only one of the following: (i) willful
failure to comply with, breach of or continued refusal to comply with, in each case, in any material respect, the material terms
of this Agreement, of any written agreement or covenant with the Company or any affiliate (including, without limitation, any employment,
consulting, confidentiality, non-competition, non-solicitation, non-disparagement or similar agreement or covenant); (ii) violation
of any lawful policies, standards or regulations of the Company which have been furnished to Executive, including policies related
to discrimination, harassment, performance of illegal or unethical activities, and ethical misconduct; (iii) indictment for,
conviction of or plea of no contest to a felony under the laws of the United States or any state; (iv) fraud, embezzlement,
dishonesty or breach of fiduciary duty against the Company or its affiliates or material misappropriation of property belonging
to the Company or its affiliates; (v) Executive’s willful failure to perform Executive’s duties as specifically
directed in any reasonable and lawful written directive of the Board; or (vi) willful misconduct or gross negligence in connection
with the performance of Executive’s duties, in each case of (i), (v), (vi), after the receipt of written notice from the
Board and Executive’s failure to cure (if curable) within thirty (30) days of Executive’s receipt of the written notice,
providing that the Company must provide Executive with at least thirty (30) days to cure and if Executive cures, Cause shall not
exist under (i), (v), (vi), as applicable.


 






    


     


    

  


1.3.        “Change
in Control” shall have the meaning ascribed to that term in the Stem, Inc. 2020 Equity Incentive Plan (the “Plan”)
or any successor equity compensation plan of the Company.


 


1.4.        “COBRA”
means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.


 


1.5.        “Code”
means the Internal Revenue Code of 1986, as amended.


 


1.6.        “Covered
Termination” means (i) an Involuntary Termination Without Cause or (ii) a voluntary termination for Good Reason.
For the avoidance of doubt, neither (x) the termination of Executive’s employment as a result of Executive’s death
or Disability nor (y) the expiration of this Agreement due to non-renewal pursuant to the terms of Section 2.2 of this
Agreement will be deemed to be a Covered Termination.


 


1.7.        “Disability”
shall mean a termination of Executive’s employment due to Executive’s absence from Executive’s duties with the
Company on a full-time basis for at least 180 consecutive days as a result of Executive’s incapacity due to physical or mental
illness which is determined to be total and permanent by a physician selected by the Company or its insurers.


 


1.8.        “Good
Reason” means any of the following taken without Executive’s written consent: (i) failure or refusal by the
Company to comply in any material respect with the material terms of this Agreement, (ii) a material diminution in Executive’s
duties, title, authority or responsibilities , (iii) a material reduction in Executive’s Base Salary (unless the annual
base salary of all other executive officers is similarly reduced), or (iv) the Company requiring Executive to be located at
any office or location more than 35 miles from the Company’s current headquarters in Millbrae, California, provided that
any request or directive from the Company to not work in such office pursuant to any stay-at-home or work from home or similar
law, order, directive, request or recommendation from a governmental entity shall not give rise to Good Reason under this Agreement.
Notwithstanding the foregoing, Executive’s resignation shall not constitute a resignation for “Good Reason” as
a result of any event described in the preceding sentence unless (x) Executive provides written notice thereof to the Company
within thirty (30) days after the first occurrence of such event, (y) to the extent correctable, the Company fails to remedy
such circumstance or event within thirty (30) days following the Company’s receipt of such written notice and (z) the
effective date of Executive’s resignation for “Good Reason” is not later than ninety (90) days after the initial
existence of the circumstances constituting Good Reason.


 


1.9.       “Involuntary
Termination Without Cause” means Executive’s dismissal or discharge by the Company other than for Cause or by reason
of Executive’s death or Disability.


 


1.10.      “Section 409A”
means Section 409A of the Code and the Department of Treasury regulations and other interpretive guidance issued thereunder,
including without limitation any such regulations or other guidance that may be issued after the Effective Date.


 






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1.11.      “Separation
from Service” means Executive’s termination of employment constitutes a “separation from service” within
the meaning of Treasury Regulation Section 1.409A-1(h).


  


ARTICLE II

EMPLOYMENT BY THE COMPANY


 


2.1.        Position
and Duties. Subject to terms set forth herein, Executive shall serve in an executive capacity
and shall perform such duties as are customarily associated with the position of [POSITION] and such other duties as are assigned
to Executive by the Board [and/or the Company’s Chief Executive Officer]. During the term of Executive’s employment
with the Company, Executive will devote Executive’s best efforts and substantially all of Executive’s business time
and attention (except for vacation periods and absences due to reasonable periods of illness or other incapacities permitted by
the Company’s general employment policies or as otherwise set forth in this Agreement) to the business of the Company.


 


2.2.       Term.
The initial term of this Agreement shall commence on the Effective Date and shall terminate
on the earlier of (i) the third (3rd) anniversary of the Effective Date and (ii) the termination of Executive’s
employment under this Agreement; provided, that if the Merger is not consummated, this Agreement shall be null and void
ab initio and neither the Company, Stem nor any other person shall have any liability to Executive under this Agreement.
On the third (3rd) anniversary of the Effective Date and each annual anniversary of such date thereafter (in either
case, provided Executive’s employment has not been terminated under this Agreement prior thereto), this Agreement shall automatically
be extended for one additional year unless either Executive or the Company gives written notice of non-renewal to the other at
least sixty (60) days prior to the automatic extension date. The period from the Effective Date until the earlier of (i) termination
of Executive’s employment under this Agreement and (ii) the expiration of the term of this Agreement due to non-renewal
pursuant to this Section 2.2 is referred to as the “Term.”


 


2.3.        Employment
at Will. The Company shall have the right to terminate Executive’s employment with
the Company at any time, with or without cause, and, in the case of a termination by the Company, with or without prior notice.
In addition to Executive’s right to resign for Good Reason, Executive shall have the right to resign at any time and for
any reason or no reason at all, upon ninety (90) days’ advance written notice to the Company; provided, however, that if
Executive has provided a resignation notice to the Company, the Company may determine, in its sole discretion, that such termination
shall be effective on any date prior to the effective date of termination provided in such notice (and, if such earlier date is
so required, then it shall not change the basis for Executive’s termination of employment nor be construed or interpreted
as a termination of Executive’s employment by the Company) and any requirement to continue salary or benefits shall cease
as of such earlier date. Upon certain terminations of Executive’s employment with the Company, Executive may become eligible
to receive the severance benefits provided in Article IV of this Agreement.


 


2.4.        Deemed
Resignations. Except as otherwise determined by the Board or as otherwise agreed to in
writing by Executive and the Company or any of its affiliates prior to the termination of Executive’s employment with the
Company or any of its affiliates, any termination of Executive’s employment shall constitute, as applicable, an automatic
resignation of Executive: (a) as an officer of the Company and each of its affiliates; (b) from the Board; and (c) from
the board of directors or board of managers (or similar governing body) of any affiliate of the Company and from the board of directors
or board of managers (or similar governing body) of any corporation, limited liability entity, unlimited liability entity or other
entity in which the Company or any of its affiliates holds an equity interest and with respect to which board of directors or board
of managers (or similar governing body) Executive serves as such designee or other representative of the Company or any of its
affiliates. Executive agrees to take any further actions that the Company or any of its affiliates reasonably requests to effectuate
or document the foregoing.


 






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2.5.        Employment
Policies. The employment relationship between the parties shall also be governed by the
general employment policies and practices of the Company, including those relating to protection of confidential information and
assignment of inventions, except that when the terms of this Agreement differ from or are in conflict with the Company’s
general employment policies or practices, this Agreement shall control.


 


ARTICLE III

COMPENSATION


 


3.1.        Base
Salary. As of the Effective Date, Executive shall receive for services to be rendered
hereunder an annualized base salary of $________ (“Base Salary”), payable on the regular payroll dates of the
Company (but no less often than monthly), subject to increase in the sole discretion of the Board or a committee of the Board.


 


3.2.        Annual
Bonus. For each calendar year ending during the Term, Executive shall be eligible to receive
an annual performance bonus (the “Annual Bonus”) targeted at _________ percent (____%) of Base Salary or such
other amount as determined in the sole discretion of the Board or a committee of the Board (the “Target Bonus”),
on such terms and conditions determined by the Board or a committee of the Board. The actual amount of any Annual Bonus (if any)
will be determined in the discretion of the Board or a committee of the Board and will be (i) subject to achievement of any
applicable bonus objectives and/or conditions determined by the Board or a committee of the Board and (ii) subject to Executive’s
continued employment with the Company through the date the Annual Bonus is paid (except as otherwise provided in Section 4.1).
The Annual Bonus for any calendar year will be paid at the same time as bonuses for other Company executives are paid related annual
bonuses generally.


 


3.3.        Standard
Company Benefits. During the Term, Executive shall be entitled to all rights and benefits
for which Executive is eligible under the terms and conditions of the standard Company benefits and compensation practices that
may be in effect from time to time and are provided by the Company to its executive employees generally, as well as any additional
benefits provided to Executive consistent with past practice. Notwithstanding the foregoing, this Section 3.3 shall not create
or be deemed to create any obligation on the part of the Company to adopt or maintain any benefits or compensation practices at
any time.


 


3.4.        Paid
Time Off. During the Term, Executive shall be entitled to such periods of paid time off
(“PTO”) each year as provided from time to time under the Company’s PTO policies and as otherwise provided
for executive officers, as it may be amended from time to time.


 






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3.5.       Equity
Awards. Executive will be eligible to receive equity incentive grants as determined by
the Board or a committee of the Board in its sole discretion. All equity awards granted to Executive will be subject to the terms
and conditions of the Company’s 2020 Equity Incentive Plan (the “LTIP”) and the applicable award agreement
approved by the Board or a committee thereof (the “Award Agreements”), which shall be consistent with this Section 3.5.
Nothing herein shall be construed to give any Executive any rights to any amount or type of grant or award except as provided in
an award agreement and authorized by the Board or a committee thereof.


 


(a)            Closing
Grant. Promptly following the filing of the Form S-8 registration statement for the
LTIP, Executive will receive a one-time grant of restricted stock units (“RSUs”) covering [__________] shares
of the Company’s common stock (the “Closing Grant”), which Closing Grant shall vest as follows: [_____________].


 


(b)            Annual
Grant. Executive will be eligible to receive an annual equity award under the LTIP for
the Company’s [____] fiscal year(s) in the form of RSUs having a grant date fair value equal to approximately $[_________],
vesting 25% on each of the first four anniversaries of the grant date, subject to Executive’s continued employment with the
Company through the applicable vesting date.


 


ARTICLE IV

SEVERANCE AND CHANGE IN CONTROL BENEFITS


 


4.1.       Severance
Benefits. Upon Executive’s termination of employment, Executive shall receive any
accrued but unpaid Base Salary and other accrued and unpaid compensation, including any accrued but unpaid vacation. If the termination
is due to a Covered Termination, provided that Executive (A) delivers an effective general release of all claims against the
Company and its affiliates in a form provided by the Company (a “Release of Claims”) that becomes effective
and irrevocable within sixty (60) days following the Covered Termination and (B) continues to comply with Articles V through
VII of this Agreement, Executive shall be entitled to receive the severance benefits described in Section 4.1(a) or (b),
as applicable.


 


(a)         Covered
Termination Not Related to a Change in Control. If Executive’s employment terminates
due to a Covered Termination which occurs at any time other than during the period beginning three (3) months prior to a Change
in Control and ending twelve (12) months after a Change in Control (the “CIC Protection Period”), Executive
shall receive the following:


 


(i)            An
amount equal to [___] months of  Executive’s Base Salary at the rate in effect (or required to be in effect before any
diminution that is the basis of Executive’s termination for Good Reason) at the time of Executive’s termination of
employment, payable in a lump sum payment, less applicable withholdings, as soon as administratively practicable following the
date on which the Release of Claims becomes effective and, in any event, no later than the sixtieth (60th) day
following the date of the Covered Termination; provided, however, if such sixty (60) day period falls in two different calendar
years, payment will be made in the later calendar year.


 






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(ii)        Notwithstanding
anything set forth in an award agreement or incentive plan to the contrary, (A) a pro-rata portion of Executive’s Annual
Bonus for the fiscal year in which Executive’s termination occurs based on actual achievement of the applicable bonus objectives
and/or conditions determined by the Board or a committee of the Board for such year (determined by multiplying the amount of the
Annual Bonus that would be payable for the full fiscal year by a fraction, the numerator of which shall be equal to the number
of days during the fiscal year of termination that Executive is employed by, and performing services for, the Company and the denominator
of which is 365 days) and (B) the amount of any Annual Bonus earned, but not yet paid, for the fiscal year prior to Executive’s
termination, in each case, payable, less applicable withholdings, at the same time bonuses for such year are paid to other senior
executives of the Company, but in no event later than March 15 of the year following the year of Executive’s termination
of employment.


  


(iii)       Subject
to Executive’s timely election of continuation coverage under COBRA, the Company shall directly pay, or reimburse Executive
for the premium for Executive and Executive’s covered dependents to maintain continued health coverage pursuant to the provisions
of COBRA through the earlier of (A) the [______] month anniversary of the date of Executive’s termination of employment
and (B) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under
another employer’s plan(s). Notwithstanding the foregoing, if the Company is otherwise unable to continue to cover Executive
under its group health plans without penalty under applicable law (including without limitation, Section 2716 of the Public
Health Service Act), then, in either case, an amount equal to each remaining Company subsidy shall thereafter be paid to Executive
in substantially equal monthly installments.


 


(iv)        Accelerated
vesting of the unvested portion of the Closing Grant that would have vested assuming that (i) the vesting schedule for the
Closing Grant provided for annual vesting at a rate of [___]% per year on each anniversary of the Effective Date, and (ii) Executive
remained employed by the Company through the date that is [__] months following the date of Executive’s termination of employment.


 


(b)         Covered
Termination Related to a Change in Control. If Executive’s employment terminates
due to a Covered Termination that occurs during the CIC Protection Period, Executive shall receive the following:


 


(i)          An
amount equal to [____] times the sum of (i) Executive’s Base Salary at the rate in effect (or required to be in effect
before any diminution that is the basis of Executive’s termination for Good Reason) at the time of Executive’s termination
of employment and (ii) Executive’s Target Bonus in effect for the year in which Executive’s termination of employment
occurs, payable in a lump sum payment, less applicable withholdings, as soon as administratively practicable following the date
on which the Release of Claims becomes effective and, in any event, no later than the sixtieth (60th) day following
the date of the Covered Termination; provided, however, if such sixty (60) day period falls in two different calendar years, payment
will be made in the later calendar year.


 


(ii)         Notwithstanding
anything set forth in an award agreement or incentive plan to the contrary, (A) a pro-rata portion of Executive’s Annual
Bonus for the fiscal year in which Executive’s termination occurs based on actual achievement of the applicable bonus objectives
and/or conditions determined by the Board or a committee of the Board for such year (determined by multiplying the amount of the
Annual Bonus that would be payable for the full fiscal year by a fraction, the numerator of which shall be equal to the number
of days during the fiscal year of termination that Executive is employed by, and performing services for, the Company and the denominator
of which is 365 days) and (B) the amount of any Annual Bonus earned, but not yet paid, for the fiscal year prior to Executive’s
termination, in each case, payable, less applicable withholdings, at the same time bonuses for such year are paid to other senior
executives of the Company, but in no event later than March 15 of the year following the year of Executive’s termination
of employment.


 






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(iii)      Subject
to Executive’s timely election of continuation coverage under COBRA, the Company shall directly pay, or reimburse Executive
for the premium for Executive and Executive’s covered dependents to maintain continued health coverage pursuant to the provisions
of COBRA through the earlier of (A) the [___]-month anniversary of the date of Executive’s termination of employment
and (B) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under
another employer’s plan(s). Notwithstanding the foregoing, if the Company is otherwise unable to continue to cover Executive
under its group health plans without penalty under applicable law (including without limitation, Section 2716 of the Public
Health Service Act), then, in either case, an amount equal to each remaining Company subsidy shall thereafter be paid to Executive
in substantially equal monthly installments.


 


(iv)       Full
vesting of any unvested portion of the Closing Grant.


 


4.2.         280G
Provisions. Notwithstanding anything in this Agreement to the contrary, if any payment
or distribution Executive would receive pursuant to this Agreement or otherwise (“Payment”) would (a) constitute
a “parachute payment” within the meaning of Section 280G of the Code, and (b) but for this sentence, be subject
to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall either
be (i) delivered in full, or (ii) delivered as to such lesser extent which would result in no portion of such Payment
being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local
income taxes and the Excise Tax, results in the receipt by Executive on an after-tax basis, of the largest payment, notwithstanding
that all or some portion of the Payment may be taxable under Section 4999 of the Code. The accounting firm engaged by the
Company for general audit purposes as of the day prior to the effective date of the Change in Control shall perform the foregoing
calculations. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made
hereunder. The accounting firm shall provide its calculations to the Company and Executive within fifteen (15) calendar days
after the date on which Executive’s right to a Payment is triggered (if requested at that time by the Company or Executive)
or such other time as requested by the Company or Executive. Any good faith determinations of the accounting firm made hereunder
shall be final, binding and conclusive upon the Company and Executive. Any reduction in payments and/or benefits pursuant to this
Section 4.2 will occur in the following order: (1) reduction of cash payments; (2) cancellation of accelerated vesting
of equity awards other than stock options; (3) cancellation of accelerated vesting of stock options; and (4) reduction
of other benefits payable to Executive. Nothing in this Section 4.2 shall require the Company or any of its
affiliates to be responsible for, or have any liability or obligation with respect to, Executive’s excise tax liabilities
under Section 4999 of the Code.


 






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4.3.       Section 409A.
Notwithstanding any provision to the contrary in this Agreement:


  


(a)         All
provisions of this Agreement are intended to comply with Section 409A of the Code, and the applicable Treasury regulations
and administrative guidance issued thereunder (collectively, “Section 409A”) or an exemption therefrom
and shall be construed and administered in accordance with such intent. Any payments under this Agreement that may be excluded
from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall
be excluded from Section 409A to the maximum extent possible. Notwithstanding the foregoing, the Company makes no representations
that the payments and benefits provided under this Agreement are exempt from, or compliant with, Section 409A and in no event
shall the Company or any of its affiliates be liable for all or any portion of any taxes, penalties, interest or other expenses
that may be incurred by Executive on account of non-compliance with Section 409A.


 


(b)         If
Executive is deemed at the time of Executive’s Separation from Service to be a “specified employee” for purposes
of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which Executive
is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of
the Code which would subject Executive to a tax obligation under Section 409A, such portion of Executive’s benefits
shall not be provided to Executive prior to the earlier of (i) the expiration of the six- month period measured from the date
of Executive’s Separation from Service or (ii) the date of Executive’s death. Upon the expiration of the applicable
Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 4.3(b) shall be paid in
a lump sum to Executive, and any remaining payments due under the Agreement shall be paid as otherwise provided herein.


 


(c)         Any
reimbursements payable to Executive pursuant to the Agreement shall be paid to Executive no later than 30 days after Executive
provides the Company with a written request for reimbursement, and to the extent that any such reimbursements are deemed to constitute
 “nonqualified deferred compensation” within the meaning of Section 409A (i) such amounts shall be paid or
reimbursed to Executive promptly, but in no event later than December 31 of the year following the year in which the expense
is incurred, (ii) the amount of any such payments eligible for reimbursement in one year shall not affect the payments or
expenses that are eligible for payment or reimbursement in any other taxable year, and (iii) Executive’s right to such
payments or reimbursement shall not be subject to liquidation or exchange for any other benefit; provided, that the foregoing clause
shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code
solely because such expenses are subject to a limit related to the period in which the arrangement is in effect..


 


(d)         For
purposes of Section 409A (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)),
Executive’s right to receive installment payments under the Agreement shall be treated as a right to receive a series of
separate payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct
payment.


 


4.4.       Mitigation.
Executive shall not be required to mitigate damages or the amount of any payment provided
under this Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for under this Agreement
be reduced by any compensation earned by Executive as a result of employment by another employer or by any retirement benefits
received by Executive after the date of the Covered Termination, or otherwise.


 






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4.5.        Equity
Coordination. For the avoidance of doubt, all equity awards, including stock options,
restricted stock units and other equity-based compensation granted by the Company to Executive under the Company’s equity-based
compensation plans shall be subject to the terms of such plans and Executive’s equity award agreements with respect thereto.


 


ARTICLE V

PROPRIETARY INFORMATION AND CONFIDENTIALITY OBLIGATIONS


 


5.1.        Proprietary
Information. All Company Innovations shall be the sole and exclusive property of the Company
without further compensation and are “works made for hire” as that term is defined under the United States copyright
laws. Executive shall promptly notify the Company of any Company Innovations that Executive solely or jointly Creates. “Company
Innovations” means all Innovations, and any associated intellectual property rights, which Executive may solely or jointly
Create, during Executive’s employment with the Company, which (i) relate, at the time Created, to the Company’s
business or actual or demonstrably anticipated research or development, or (ii) were developed on any amount of the Company’s
time or with the use of any of the Company’s equipment, supplies, facilities or trade secret information, or (iii) resulted
from any work Executive performed for the Company. Executive is notified that Company Innovations does not include any Innovation
which qualifies fully under the provisions of California Labor Code Section 2870. “Create” means to create,
conceive, reduce to practice, derive, develop or make. “Innovations” means processes, machines, manufactures,
compositions of matter, improvements, inventions (whether or not protectable under patent laws), works of authorship, information
fixed in any tangible medium of expression (whether or not protectable under copyright laws), mask works, trademarks, trade names,
trade dress, trade secrets, know-how, ideas (whether or not protectable under trade secret laws), and other subject matter protectable
under patent, copyright, moral rights, mask work, trademark, trade secret or other laws regarding proprietary rights, including
new or useful art, combinations, discoveries, formulae, manufacturing techniques, technical developments, discoveries, artwork,
software and designs. Executive hereby assigns (and will assign) to the Company all Company Innovations. Executive shall perform
(at the Company’s expense), during and after Executive’s employment, all acts reasonably deemed necessary or desirable
by the Company to assist the Company in obtaining and enforcing the full benefits, enjoyment, rights and title throughout the world
in the Company Innovations. Such acts may include execution of documents and assistance or cooperation (i) in the filing,
prosecution, registration, and memorialization of assignment of patent, copyright, mask work or other applications, (ii) in
the enforcement of any applicable Proprietary Rights, and (iii) in other legal proceedings related to the Company’s
Innovations. “Proprietary Rights” means patents, copyrights, mask work, moral rights, trade secrets and other
proprietary rights. No provision in this Agreement is intended to require Executive to assign or offer to assign any of Executive’s
rights in any invention for which Executive can establish that no trade secret information of the Company were used, and which
was developed on Executive’s own time, unless the invention relates to the Company’s actual or demonstrably anticipated
research or development, or the invention results from any work performed by Executive for the Company.


 






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5.2.        Confidentiality.
In the course of Executive’s employment with the Company and the performance of Executive’s duties on behalf of the
Company and its affiliates hereunder, Executive will be provided with, and will have access to, Confidential Information (as defined
below). In consideration of Executive’s receipt and access to such Confidential Information, and as a condition of Executive’s
employment, Executive shall comply with this Section 5.2


  


(a)         Both
during the Term and thereafter, except as expressly permitted by this Agreement, Executive shall not disclose any Confidential
Information to any person or entity and shall not use any Confidential Information except for the benefit of the Company or its
affiliates. Executive shall follow all Company policies and protocols regarding the security of all documents and other materials
containing Confidential Information (regardless of the medium on which Confidential Information is stored). Except to the extent
required for the performance of Executive’s duties on behalf of the Company or any of its affiliates, Executive shall not
remove from facilities of the Company or any of its affiliates any information, property, equipment, drawings, notes, reports,
manuals, invention records, computer software, customer information, or other data or materials that relate in any way to the Confidential
Information, whether paper or electronic and whether produced by Executive or obtained by the Company or any of its affiliates.
The covenants of this Section 5.2(a) shall apply to all Confidential Information, whether now known or later to become
known to Executive during the period that Executive is employed by or affiliated with the Company or any of its affiliates.


 


(b)         Notwithstanding
any provision of Section 5.2(a) to the contrary, Executive may make the following disclosures and uses of Confidential
Information:


 


(i)      disclosures
to other employees, officers or directors of the Company or any of its affiliates who have a need to know the information in connection
with the businesses of the Company or any of its affiliates;


 


(ii)     disclosures
to customers and suppliers when, in the reasonable and good faith belief of Executive, such disclosure is in connection with Executive’s
performance of Executive’s duties ;


 


(iii)    disclosures
and uses that are approved in writing by the Board; or


 


(iv)     disclosures
to a person or entity that has (x) been retained by the Company or any of its affiliates to provide services to the Company
and/or its affiliates and (y) agreed in writing to abide by the terms of a confidentiality agreement.


 


(c)         Upon
the expiration of the Term, and at any other time upon request of the Company, Executive shall promptly and permanently surrender
and deliver to the Company all documents (including electronically stored information) and all copies thereof and all other materials
of any nature containing or pertaining to all Confidential Information and any other Company property (including any Company-issued
computer, mobile device or other equipment) in Executive’s possession, custody or control and Executive shall not retain
any such documents or other materials or property of the Company or any of its affiliates. Within ten (10) days of any such
request, Executive shall certify to the Company in writing that all such documents, materials and property have been returned to
the Company or otherwise destroyed.


 






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(d)        “Confidential
Information” means all confidential, competitively valuable, non-public or proprietary information that is conceived,
made, developed or acquired by or disclosed to Executive (whether conveyed orally or in writing), individually or in conjunction
with others, during the period that Executive is employed or engaged by the Company or any of its affiliates (whether during business
hours or otherwise and whether on the Company’s premises or otherwise) including: (i) technical information of the Company,
its affiliates, its investors, customers, vendors, suppliers or other third parties, including computer programs, software, databases,
data, ideas, know-how, formulae, compositions, processes, discoveries, machines, inventions (whether patentable or not), designs,
developmental or experimental work, techniques, improvements, work in process, research or test results, original works of authorship,
training programs and procedures, diagrams, charts, business and product development plans, and similar items; (ii) information
relating to the Company or any of its affiliates’ businesses or properties, products or services (including all such information
relating to corporate opportunities, operations, future plans, methods of doing business, business plans, strategies for developing
business and market share, research, financial and sales data, pricing terms, evaluations, opinions, interpretations, acquisition
prospects, the identity of customers or acquisition targets or their requirements, the identity of key contacts within customers’
organizations or within the organization of acquisition prospects, or marketing and merchandising techniques, prospective names
and marks) or pursuant to which the Company or any of its affiliates owes a confidentiality obligation; and (iii) other valuable,
confidential information and trade secrets of the Company, its affiliates, its customers or other third parties. Moreover, all
documents, videotapes, written presentations, brochures, drawings, memoranda, notes, records, files, correspondence, manuals, models,
specifications, computer programs, e-mail, voice mail, electronic databases, maps, drawings, architectural renditions, models and
all other writings or materials of any type including or embodying any of such information, ideas, concepts, improvements, discoveries,
inventions and other similar forms of expression are and shall be the sole and exclusive property of the Company or its other applicable
affiliates and be subject to the same restrictions on disclosure applicable to all Confidential Information pursuant to this Agreement.
For purposes of this Agreement, Confidential Information shall not include any information that (A) is or becomes generally
available to the public other than as a result of a disclosure or wrongful act of Executive or any of Executive’s agents;
(B) was available to Executive on a non-confidential basis before its disclosure by the Company or any of its affiliates;
(C) becomes available to Executive on a non-confidential basis from a source other than the Company or any of its affiliates;
provided, however, that such source is not bound by a confidentiality agreement with, or other obligation with respect to confidentiality
to, the Company or any of its affiliates; or (D) is required to be disclosed by applicable law.


  


(e)        Notwithstanding
the foregoing, nothing in this Agreement shall prohibit or restrict Executive from lawfully: (i) initiating communications
directly with, cooperating with, providing information to, causing information to be provided to, or otherwise assisting in an
investigation by, any governmental authority regarding a possible violation of any law; (ii) responding to any inquiry or
legal process directed to Executive from any such governmental authority; (iii) testifying, participating or otherwise assisting
in any action or proceeding by any such governmental authority relating to a possible violation of law; or (iv) making any
other disclosures that are protected under the whistleblower provisions of any applicable law. Additionally, pursuant to the federal
Defend Trade Secrets Act of 2016, an individual shall not be held criminally or civilly liable under any federal or state trade
secret law for the disclosure of a trade secret that: (A) is made (1) in confidence to a federal, state or local government
official, either directly or indirectly, or to an attorney and (2) solely for the purpose of reporting or investigating a
suspected violation of law; (B) is made to the individual’s attorney in relation to a lawsuit for retaliation against
the individual for reporting a suspected violation of law; or (C) is made in a complaint or other document filed in a lawsuit
or proceeding, if such filing is made under seal. Nothing in this Agreement requires Executive to obtain prior authorization before
engaging in any conduct described in this paragraph, or to notify the Company that Executive has engaged in any such conduct.


 






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5.3.         Nondisparagement.
Subject to Section 5.2(e) above, Executive agrees that from and after the Effective Date, Executive will not, directly
or indirectly, make, publish, or communicate any disparaging or defamatory comments regarding the Company, Magnetar Capital LLC,
or any of their respective current or former directors, officers, members, managers, partners, or executives. The Company agrees
that it will counsel its senior officers and directors to not make, publish, or communicate any disparaging or defamatory comments
regarding Executive. The foregoing shall not be violated by truthful statements in response to legal process, required governmental
testimony or filings or administrative or arbitral proceedings (including, without limitation, depositions in connection with such
proceedings), and the foregoing limitation on the Company’s senior executives and directors shall not be violated by statements
that they in good faith believe are necessary or appropriate to make in connection with performing their duties and obligations
to the Company or any of its affiliates.


 


5.4.         Remedies.
Executive’s and the Company’s duties under this Article V shall survive
termination of Executive’s employment with the Company and the termination of this Agreement. Because of the difficulty of
measuring economic losses to the Company and its affiliates as a result of a breach or threatened breach of the covenants set forth
in this Article V, Section 6.2 and Article VII, and because of the immediate and irreparable damage that would be
caused to the Company and its affiliates for which they would have no other adequate remedy, Executive acknowledges that a remedy
at law for any breach or threatened breach by Executive of Article V, as well as Executive’s obligations pursuant to
Section 6.2 and Article VII below, would be inadequate, and Executive therefore agrees that the Company shall be entitled
to seek injunctive relief in case of any such breach or threatened breach from any court of competent jurisdiction, without the
necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of
posting any bond or other security. The aforementioned equitable relief shall not be the Company’s or any of its affiliates’
exclusive remedy for a breach but instead shall be in addition to all other rights and remedies available to the Company and each
of its affiliates at law and equity.


 


5.5.         Modification.
The covenants in this Article V, Section 6.2 and Article VII, and each provision and portion hereof, are severable
and separate, and the unenforceability of any specific covenant (or portion thereof) shall not affect the provisions of any other
covenant (or portion thereof). If it is determined by an arbitrator or a court of competent jurisdiction in any state that any
restriction in this Article V, Section 6.2 and Article VII is excessive in duration or scope or is unreasonable
or unenforceable under the laws of that state, it is the intention of the parties that such restriction may be modified or amended
by the arbitrator or the court to render it enforceable to the maximum extent permitted by the law of that state.


 






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ARTICLE VI

OUTSIDE ACTIVITIES


  


6.1.       Other
Activities.


 


(a)        Except
as otherwise provided in Section 6.1(b), Executive shall not, during the term of this Agreement undertake or engage in any
other employment, occupation or business enterprise, other than ones in which Executive is a passive investor, unless Executive
obtains the prior written consent of the Board.


 


(b)        Executive
may engage in civic and not-for-profit activities so long as such activities do not materially interfere with the performance of
Executive’s duties hereunder. In addition, subject to advance approval by the Board, Executive shall be allowed to serve
as a member of the board of directors of one (1) for-profit entity at any time during the term of this Agreement, so long
as such service does not materially interfere with the performance of Executive’s duties hereunder; provided, however, that
the Board, in its discretion, may require that Executive resign from such director position if it determines that such resignation
would be in the best interests of the Company.


 


6.2.       Competition/Investments.
During the term of Executive’s employment by the Company, Executive shall not (except
on behalf of the Company) directly or indirectly, whether as an officer, director, stockholder, partner, proprietor, associate,
representative, consultant, or in any capacity whatsoever engage in, become financially interested in, be employed by or have any
business connection with any other person, corporation, firm, partnership or other entity whatsoever which are known by Executive
to compete directly with the Company or any of its affiliates, throughout the world, in any line of business engaged in (or planned
to be engaged in) by the Company; provided, however, that anything above to the contrary notwithstanding, Executive may own, as
a passive investor, securities of any competitor corporation, so long as Executive’s direct holdings in any one such corporation
do not, in the aggregate, constitute more than 1% of the voting stock of such corporation.


 


6.3.       Defense
of Claims; Cooperation. During the Term and thereafter, upon reasonable request from the
Company, Executive shall use commercially reasonable efforts to cooperate with the Company and its affiliates in the defense of
any claims or actions that may be made by or against the Company or any of its affiliates that relate to Executive’s actual
or prior areas of responsibility or knowledge. Executive shall further use commercially reasonable efforts to provide reasonable
and timely cooperation in connection with any actual or threatened claim, action, inquiry, review, investigation, process, or other
matter (whether conducted by or before any court, arbitrator, regulatory, or governmental entity, or by or on behalf of the Company
or any of its affiliates), that relates to Executive’s actual or prior areas of responsibility or knowledge.


 






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ARTICLE VII

NONINTERFERENCE


 


Executive shall not,
during the term of Executive’s employment by the Company and, solely with respect to clause (ii) below, for twelve (12)
months thereafter, either on Executive’s own account or jointly with or as a manager, agent, officer, employee, consultant,
partner, joint venturer, owner or stockholder or otherwise on behalf of any other person, firm or corporation, directly or indirectly
solicit, induce attempt to solicit any of (i) its customers or clients to terminate their relationship with the Company or
to cease purchasing services or products from the Company or (ii) its officers or employees or offer employment to any person
who is an officer or employee of the Company; provided, however, that a general advertisement to which an employee of the
Company responds shall in no event be deemed to result in a breach of this Article VII. If it is determined by a court of
competent jurisdiction in any state that any restriction in this Article VII is excessive in duration or scope or is unreasonable
or unenforceable under the laws of that state, it is the intention of the parties that such restriction may be modified or amended
by the court to render it enforceable to the maximum extent permitted by the law of that state.


  


ARTICLE VIII

GENERAL PROVISIONS


 


8.1.         Notices.
Any notices provided hereunder must be in writing and shall be deemed effective upon the
earlier of personal delivery (including personal delivery by facsimile or electronic mail) or the third day after mailing by first
class mail, to the Company at its primary office location and to Executive at Executive’s address as listed on the Company’s
books and records.


 


8.2.         Tax
Withholding. Executive acknowledges that all amounts and benefits payable under this Agreement
are subject to deduction and withholding to the extent required by applicable law.


 


8.3.         Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable
in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will
not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction
as if such invalid, illegal or unenforceable provisions had never been contained herein.


 


8.4.         Clawback.
Amounts paid or payable under this Agreement shall be subject to the provisions of any applicable clawback policies or procedures
adopted by the Company or any of its affiliates applicable to Executive, which clawback policies or procedures may provide for
forfeiture and/or recoupment of amounts paid or payable under this Agreement. Notwithstanding any provision of this Agreement to
the contrary, the Company and each of its affiliates reserves the right, without the consent of Executive, to adopt any such clawback
policies and procedures, including such policies and procedures applicable to this Agreement with retroactive effect.


 


8.5.         Waiver.
Any waiver of this Agreement must be executed by the party to be bound by such waiver.
If either party should waive any breach of any provisions of this Agreement, they shall not thereby be deemed to have waived any
preceding or succeeding breach of the same or any other provision of this Agreement or any similar or dissimilar provision or condition
at the same or any subsequent time. The failure of either party hereto to take any action by reason of any breach will not deprive
such party of the right to take action at any time.


 






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8.6.         Complete
Agreement. This Agreement constitutes the entire agreement between Executive and the Company
and is the complete, final, and exclusive embodiment of their agreement with regard to this subject matter, and will supersede
all prior agreements, understandings, discussions, negotiations and undertakings, whether written or oral, between the parties
with respect to the subject matter hereof (including, for the avoidance of doubt, the Prior Agreement), including that certain
Employment Agreement Term Sheet, dated [●], 2020, by and between Executive and the Company. This Agreement is entered into
without reliance on any promise or representation other than those expressly contained herein or therein, and cannot be modified
or amended except in a writing signed by a duly-authorized officer of the Company and Executive.


  


8.7.         Counterparts.
This Agreement may be executed in separate counterparts, any one of which need not contain
signatures of more than one party, but all of which taken together will constitute one and the same Agreement.


 


8.8.         Headings.
The headings of the sections hereof are inserted for convenience only and shall not be
deemed to constitute a part hereof nor to affect the meaning thereof.


 


8.9.         Successors
and Assigns. This Agreement is intended to bind and inure to the benefit of and be enforceable
by Executive and the Company, and their respective successors, assigns, heirs, executors and administrators, except that Executive
may not assign Executive’s rights or delegate Executive’s duties or obligations hereunder without the prior written
consent of the Company.


 


8.10.       Effect
of Termination. The provisions of Section 2.4 and Articles IV, V, VII and VIII and
those provisions necessary to interpret and enforce them, shall survive any termination of this Agreement and any termination of
the employment relationship between Executive and the Company.


 


8.11.       Third-Party
Beneficiaries. Each affiliate of the Company that is not a signatory to this Agreement
shall be a third-party beneficiary of Executive’s obligations under Sections 2.4 and 8.14 and Articles V, VI and VII and
shall be entitled to enforce such obligations as if a party hereto.


 


8.12.       Executive
Acknowledgement. Executive acknowledges and agrees that (a) Executive was represented
by counsel in connection with the negotiation of this Agreement, and (b) that Executive has read and understands the Agreement,
is fully aware of its legal effect, and has entered into it freely based on Executive’s own judgment.


 


8.13.       Choice
of Law. All questions concerning the construction, validity and interpretation of this
Agreement will be governed by the law of the State of California without regard to the conflicts of law provisions thereof. With
respect to any claim or dispute related to or arising under this Agreement, the parties hereby consent to the arbitration provisions
of Section 8.14 and recognize and agree that should any resort to a court be necessary and permitted under this Agreement,
then they consent to the exclusive jurisdiction, forum and venue of the state and federal courts (as applicable) located in California.


 






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8.14.     Arbitration.


 


(a)        Subject
to Section 8.14(b), any dispute, controversy or claim between Executive and the Company or any of its affiliates arising out
of or relating to this Agreement or Executive’s employment or engagement with the Company or any of its affiliates (“Disputes”)
will be finally settled by confidential arbitration in the State of California in accordance with the then-existing American Arbitration
Association (“AAA”) Employment Arbitration Rules. The arbitration award shall be final and binding on both parties.
Any arbitration conducted under this Section 8.14 shall be private, shall be heard by a single arbitrator (the “Arbitrator”)
selected in accordance with the then-applicable rules of the AAA and shall be conducted in accordance with the Federal Arbitration
Act. The Arbitrator shall expeditiously hear and decide all matters concerning the Dispute. Except as expressly provided to the
contrary in this Agreement, the Arbitrator shall have the power to (i) gather such materials, information, testimony and evidence
as the Arbitrator deems relevant to the Dispute before him or her (and each party will provide such materials, information, testimony
and evidence requested by the Arbitrator), and (ii) grant injunctive relief and enforce specific performance. All Disputes
shall be arbitrated on an individual basis, and each party hereto hereby foregoes and waives any right to arbitrate any Dispute
as a class action or collective action or on a consolidated basis or in a representative capacity on behalf of other persons or
entities who are claimed to be similarly situated, or to participate as a class member in such a proceeding. The decision of the
Arbitrator shall be reasoned, rendered in writing, be final and binding upon the disputing parties and the parties agree that judgment
upon the award may be entered by any court of competent jurisdiction. The parties acknowledge and agree that in connection with
any such arbitration and regardless of outcome, except as provided under this Section 8.14, each party will pay all of its
own costs and expenses, including its own legal fees and expenses, and the arbitration costs will be shared equally by the Company
and Executive.


  


(b)        Notwithstanding
Section 8.14(a), either party may make a timely application for, and obtain, judicial emergency or temporary injunctive relief
to enforce any of the provisions of Articles V through VII; provided, however, that the remainder of any such Dispute (beyond the
application for emergency or temporary injunctive relief) shall be subject to arbitration under this Section 8.14.


 


(c)        By
entering into this Agreement and entering into the arbitration provisions of this Section 8.14, THE PARTIES EXPRESSLY ACKNOWLEDGE
AND AGREE THAT THEY ARE KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVING THEIR RIGHTS TO A JURY TRIAL.


 


(d)        Nothing
in this Section 8.14 shall prohibit a party to this Agreement from (i) instituting litigation to enforce any arbitration
award, or (ii) joining the other party to this Agreement in a litigation initiated by a person or entity that is not a party
to this Agreement. Further, nothing in this Section 8.14 precludes Executive from filing a charge or complaint with a federal,
state or other governmental administrative agency.


 


[Signature page follows]


 






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In Witness Whereof, the parties
have executed this Agreement as of the date first written above.


 


	 	STAR PEAK ENERGY TRANSITION CORP.
	 
	 	By: 	                            
	 	[____________]
	 
	 	Title: [____________]
	 
	Accepted and Agreed:	 
	 	 
	 	 
	 	 
	[_________________]	 




 





Signature Page to Executive Employment Agreement