# EDGAR Filing Document

**Accession Number:** 0001918102
**File Stem:** 0001104659-25-110309
**Filing Date:** 2025-11
**Character Count:** 86848
**Document Hash:** e1d81d8420334ec99451f31a6dc804e5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-110309.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001104659-25-110309

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20251107

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEEP FISSION, INC.
- **CENTRAL INDEX KEY:** 0001918102
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 874265302
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56407
- **FILM NUMBER:** 251472351

**BUSINESS ADDRESS:**
- **STREET 1:** 2831 GARBER STREET
- **CITY:** BERKELEY
- **STATE:** CA
- **ZIP:** 94705
- **BUSINESS PHONE:** (707) 400-0778

**MAIL ADDRESS:**
- **STREET 1:** 2831 GARBER STREET
- **CITY:** BERKELEY
- **STATE:** CA
- **ZIP:** 94705

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Surfside Acquisition Inc.
- **DATE OF NAME CHANGE:** 20220317

?xml version='1.0' encoding='ASCII'?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): November 7, 2025**

**Deep Fission, Inc.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **000-56407** | **87-4265302** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (IRS Employer<br> Identification No.) |

---

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| | |
|:---|:---|
| **2831 Garber Street**<br> **Berkeley, California** <br> (Address of principal executive offices) | **94705**<br> (Zip Code) |

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Registrant's telephone number, including area code: (707) 400-0778

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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| |
|:---|
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

---

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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 13(a) of the Exchange Act. ¨

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers**

**(b) Director Resignation**

On November 7, 2025, Richard A. Muller resigned from the Board of Directors of Deep Fission to focus on his continuing responsibilities as the Company's Chief Technology Officer. His resignation did not result from any disagreement with Deep Fission on any matter relating to its operations, policies, or practices.

**(c) Appointment of Certain Officers; Employment Agreements**

On November 7, 2025, Deep Fission's Board of Directors formally appointed Michael Brasel as Chief Operating Officer and Jon Gordon as General Counsel and Secretary of the Company. Each began serving in these roles effective October 6, 2025 and October 7, 2025, respectively, and their appointments were ratified by the Board on November 7, 2025. Both individuals have been designated as "executive officers" within the meaning of Rule 3b-7 of the Exchange Act and as "Section 16 officers" for purposes of Section 16 of that Act.

In connection with their appointments, the Company entered into employment agreements with each executive effective November 7, 2025. Mr. Brasel will receive an annual base salary of $300,000, a target bonus equal to 30% of base salary, and an option to purchase 70,000 shares of common stock at an exercise price of $2.73 per share (the fair market value on the grant date), vesting over four years with a one-year cliff. Mr. Gordon will receive an annual base salary of $315,000, a target bonus equal to 30% of base salary, and an option to purchase 85,000 shares at an exercise price of $2.73 per share, vesting over four years with a one-year cliff.

Copies of the employment agreements will be filed as exhibits to Deep Fission's next periodic report. There are no family relationships between either executive and any director or executive officer of Deep Fission and no transactions requiring disclosure under Item 404(a) of Regulation S-K.

**Biographical Information**

**Michael Brasel — Chief Operating Officer**

Mr. Brasel serves as Chief Operating Officer of Deep Fission, having previously served as the Company's Vice President of Nuclear Programs. Before joining Deep Fission, he held senior positions at NuScale Power and Blue Wave AI Labs and previously managed the La Crosse Boiling Water Reactor for Dairyland Power Cooperative. Earlier in his career, Mr. Brasel served as a Nuclear Operator–Electrician in the U.S. Navy aboard the USS Arkansas and USS California, and completed the Naval Nuclear Power School and associated Prototype Training. He serves on the boards of Great River Energy (as Chair), Lake Region Electric Cooperative, and Perham Health. Mr. Brasel holds degrees in mechanical engineering and business administration from Old Dominion University and the University of Wisconsin–La Crosse.

**Jon Gordon — General Counsel & Secretary**

Mr. Gordon oversees all legal, compliance, and corporate governance matters at Deep Fission. Prior to joining Deep Fission, he was General Counsel and Chief Commercial Officer of a hydrogen-electrolyzer company and co-founded Universal Hydrogen, a developer of hydrogen-powered aircraft and fueling systems. Prior to that, he was Deputy General Counsel for Technology and Digital at United Technologies (now Raytheon Technologies). Earlier in his career, he practiced M&A and securities law at Cravath, Swaine & Moore and Wachtell, Lipton, Rosen & Katz. Mr. Gordon earned both his B.A. and J.D. from the University of Chicago.

**(d) Election of Directors**

Effective November 7, 2025, Deep Fission's Board of Directors appointed Leslie Goldman Tepper and Jonathon Angell as directors and fixed the size of the Board at three members. Ms. Goldman Tepper was designated a Class I Director (term expiring at the 2026 annual meeting) and Mr. Angell a Class II Director (term expiring at the 2027 annual meeting). Elizabeth A. Muller continues to serve as Chair of the Board and is a Class III Director (term expiring at the 2028 annual meeting).

The Board determined that Ms. Goldman Tepper is independent under SEC rules and NASDAQ requirements (with which the Company complies voluntarily) and that Mr. Angell is not independent due to his prior service as an officer but qualifies as a non-employee director pursuant to Rule 16b-3 under the Exchange Act.

On the same date, the Board established a Nominating & Governance Committee and a Compensation Committee and adopted charters for each. Ms. Goldman Tepper serves as Chair of the Nominating & Governance Committee and as a member of the Compensation Committee, and Mr. Angell serves as Chair of the Compensation Committee and as a member of the Nominating & Governance Committee.

To the Company's knowledge, there are no arrangements or understandings pursuant to which either director was selected, no family relationships with any director or executive officer, and no transactions requiring disclosure under Item 404(a) of Regulation S-K.

**Biographical Information**

**Jonathon Angell — Director**

Mr. Angell serves on Deep Fission's Board of Directors, as Chair of the Company's Compensation Committee and as a member of its Nominating & Governance Committee. He is the Chief Executive Officer of Angell Investments and has advised multiple early-stage companies on financial strategy and corporate governance. He previously served as Chief Financial Officer and Strategic Advisor to Deep Fission and also serves as a director and Audit Committee Chair of Deep Isolation Nuclear, Inc. He holds a B.A. from Whitman College and an M.B.A. from Heriot-Watt University and is a Certified Public Accountant.

**Leslie Goldman Tepper — Director**

Ms. Goldman Tepper serves on Deep Fission's Board of Directors, as Chair of the Company's Nominating & Governance Committee and as a member of its Compensation Committee. She is Principal and Managing Member of LGT Seven Enterprises and previously co-founded The Artemis Fund, a venture-capital firm investing in female-led technology companies. She also serves as a director, Nominating & Governance Committee Chair and member of the Audit Committee of Deep Isolation Nuclear, Inc., a director and member of the Audit Committee of Titan Acquisition Corp. (NASDAQ), and as a director of Berkeley Earth. Ms. Goldman Tepper earned degrees from Yale University, the University of New South Wales, and Fordham University School of Law.

**Director Equity Awards**

In connection with their appointments, Ms. Goldman Tepper and Mr. Angell each received 100,000 restricted stock units under the Company's 2025 Equity Incentive Plan. The restricted stock units vest in full six months after the grant date, subject to continued service and the terms of the plan and applicable award agreements. The awards were approved pursuant to Rule 16b-3 under the Exchange Act.

**(e) Compensatory Arrangements of Certain Officers**

On November 7, 2025, the Compensation Committee approved the adoption of an Executive Severance Policy to provide severance and change-in-control protections for executive officers as may be designated from time to time; no individuals have been designated under the policy as of the date hereof.

The Compensation Committee also approved the following incentive stock option grants under Deep Fission's 2025 Equity Incentive Plan, each with an exercise price of $2.73 per share (the fair market value on the grant date), a ten-year term, and vesting over four years with a one-year cliff, each approved pursuant to Rule 16b-3 under the Exchange Act:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Executive** | **Title** | **Options Granted** | **Exercise Price** | **Vesting** |
| Michael Brasel | Chief Operating Officer | 70000 | $2.73 | 4 yrs (1-yr cliff) |
| Jon Gordon | General Counsel & Secretary | 85000 | $2.73 | 4 yrs (1-yr cliff) |

---

**Item 9.01 Financial Statements and Exhibits**

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| | | |
|:---|:---|:---|
| **Exhibit No.** | **Description** | **Filing Treatment** |
| [10.1](tm2530746d1_ex10-1.htm) | [Non-Employee Director Compensation Policy (adopted November 7, 2025)](tm2530746d1_ex10-1.htm) | [Filed herewith](tm2530746d1_ex10-1.htm) |
| [10.2](tm2530746d1_ex10-2.htm) | [Form of Director and Officer Indemnification Agreement (adopted November 7, 2025)](tm2530746d1_ex10-2.htm) | [Filed herewith](tm2530746d1_ex10-2.htm) |
| [10.3](tm2530746d1_ex10-3.htm) | [Executive Severance Policy (adopted November 7, 2025)](tm2530746d1_ex10-3.htm) | [Filed herewith](tm2530746d1_ex10-3.htm) |
| [10.4](https://www.sec.gov/Archives/edgar/data/1918102/000121390025086894/ea025644301ex10-8_deep.htm) | [Forms of Option Grant Notice and Option Agreement under 2025 Equity Incentive Plan](https://www.sec.gov/Archives/edgar/data/1918102/000121390025086894/ea025644301ex10-8_deep.htm) | [Incorporated by reference to Exhibit 10.8 to Deep Fission's Current Report on Form 8-K (File No. 000-56407) filed September 5, 2025](https://www.sec.gov/Archives/edgar/data/1918102/000121390025086894/ea025644301ex10-8_deep.htm) |
| [10.5](https://www.sec.gov/Archives/edgar/data/1918102/000121390025086894/ea025644301ex10-7_deep.htm) | [Deep Fission, Inc. 2025 Equity Incentive Plan (Post-Merger)](https://www.sec.gov/Archives/edgar/data/1918102/000121390025086894/ea025644301ex10-7_deep.htm) | [Incorporated by reference to Exhibit 10.7 to Deep Fission's Current Report on Form 8-K (File No. 000-56407) filed September 5, 2025](https://www.sec.gov/Archives/edgar/data/1918102/000121390025086894/ea025644301ex10-7_deep.htm) |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
|  | **DEEP FISSION, INC.** |
| Date: November 12, 2025 | /s/ JON GORDON |
|  | Jon Gordon |
|  | General Counsel & Secretary |

---

## Exhibit 10.1

**Exhibit 10.1**

![](tm2530746d1_ex10-1img001.jpg)

**NON-EMPLOYEE DIRECTOR COMPENSATION POLICY**

(As adopted by the Board of Directors effective as of November 7, 2025)

Non-employee members of the Board of Directors (the "**Board**") of Deep Fission, Inc. (the "**Company**"), shall be eligible to receive equity compensation as set forth in this Non-Employee Director Compensation Policy (this "**Policy**").

The equity grants described in this Policy shall be made automatically and without further action of the Board to each member of the Board who is not an employee of the Company or any parent or subsidiary of the Company (each, a "**Non-Employee Director**"), unless such Non-Employee Director declines the receipt of such equity grants by written notice to the Company.

This Policy shall remain in effect until it is revised or rescinded by further action of the Board. The terms and conditions of this Policy shall supersede any prior cash or equity compensation arrangements between the Company and its directors.

**1.** **Annual Cash Compensation** 

Each Non-Employee Director shall receive the cash compensation set forth below for service on the Board. The annual cash compensation amounts shall be payable in arrears following the end of each quarter in which the service occurred, pro-rated for any partial months of service. All annual cash fees are vested upon payment.

**Annual Cash Retainer for Board Service**

&nbsp;&nbsp;&nbsp;&nbsp;· All Non-Employee Directors: **$67,500** 

**Annual Cash Retainer for Committee Service**

In addition, a Non-Employee Director shall be eligible to receive the following additional annual cash retainers for service in the following roles:

&nbsp;&nbsp;&nbsp;&nbsp;· Audit Committee Chair: **$10,000** 

&nbsp;&nbsp;&nbsp;&nbsp;· Compensation Committee Chair: **$9,500** 

&nbsp;&nbsp;&nbsp;&nbsp;· Nominating and Corporate Governance Committee
Chair: **$9,500** 

**2.** **Equity Compensation** 

Each Non-Employee Director shall be granted the following awards under the Company's 2025 Equity Incentive Plan or its successor (the "**2025 Plan**"). For purposes of this Policy, the "**Election Date**" means the date on which an individual is first appointed or elected to the Board.

**Early Director Awards**. Each Non-Employee Director who first joins the Board on or after the Effective Date and on or before December 31, 2025 shall, upon the Election Date, receive an equity award (each, an "**Early Director Award**") under the 2025 Plan with a target of 100,000 shares or units, in such form, including restricted stock units, restricted stock, stock options, or other stock-based awards as may be determined by the Compensation Committee in its discretion. Each Early Director Award shall become fully vested, subject to the applicable Non-Employee Director's continued service as a director, on the one-year anniversary of the date of grant. Notwithstanding the foregoing, each Early Director Award shall become fully vested upon the consummation of a Change in Control (as defined in the 2025 Plan).

**Initial Awards**. Each Non-Employee Director who first joins the Board after December 31, 2025 shall, upon the Election Date, receive RSUs (each, an "**Initial Award**") under the 2025 Plan with an aggregate fair value, as determined under the 2025 Plan, equal to $130,000, calculated on the date of grant. Each Initial Award shall become fully vested, subject to the applicable Non-Employee Director's continued service as a director, on the one-year anniversary of the date of grant. Notwithstanding the foregoing, each Initial Award shall become fully vested upon the consummation of a Change in Control.

**Annual Awards**. On the first business day following the conclusion of each regular annual meeting of the Company's stockholders, commencing with the 2026 annual meeting, each Non-Employee Director who continues serving as a member of the Board thereafter shall receive RSUs (each, an "**Annual Award**") under the 2025 Plan with an aggregate fair value, as determined under the 2025 Plan, equal to $130,000, calculated on the date of grant. Each Annual Award shall become fully vested, subject to the applicable Non-Employee Director's continued service as a director, on the one-year anniversary of the date of grant. Notwithstanding the foregoing, each Annual Award shall become fully vested upon the consummation of a Change in Control.

The Early Director Awards, Initial Awards, and Annual Awards shall be subject to the terms and conditions of the 2025 Plan (including the annual limits on non-employee director grants set forth therein) and the Company's standard form of RSU award agreement, in substantially the same form approved by the Board for employee grants, subject to the terms specified above. The number of RSUs awarded to a Non-Employee Director under this Policy shall be rounded down to the nearest whole unit.

The Board may also approve other equity grants to Non-Employee Directors under the 2025 Plan in addition to, or in lieu of, the grants described in this Policy. All equity awards shall be intended to comply with, or be exempt from, Section 409A of the Internal Revenue Code.

**3.** **Expenses** 

The Company shall reimburse Non-Employee Directors for reasonable and customary out-of-pocket expenses incurred in attending Board and committee meetings and otherwise performing their duties and obligations as directors.

**4.** **Amendment or Termination** 

This Policy may be amended or terminated at any time in the sole discretion of the Board.

## Exhibit 10.2

**Exhibit 10.2**

![](tm2530746d1_ex10-2img001.jpg)

**Indemnification Agreement** dated the later of its two signatory dates between Deep Fission, Inc., a Delaware corporation (the "**Company**"), and the undersigned officer or director of the Company ("**Indemnitee**"). This Agreement supersedes and replaces any and all previous agreements between the Company and Indemnitee covering the subject matter of this Agreement.

In consideration of the premises and the covenants contained in this Agreement, the Company and Indemnitee covenant and agree as follows:

**1. Service to the Company**. Indemnitee has agreed to serve as a director on the Company's Board of Directors (the "**Board**") and/or as an officer of the Company. This Agreement shall continue in force after Indemnitee has ceased to serve as an officer or director of the Company as provided in Section 16.

**2. Definitions**. As used in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1.** "**Agent**" shall mean any person who is or was a director, officer, or employee of the Company or a subsidiary of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity as a director, officer, employee, fiduciary or other official of another corporation, partnership, limited liability company, joint venture, trust or Other Enterprise at the request of, for the convenience of, or to represent the interests of the Company or a subsidiary of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.** "**Beneficial Owner**" shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3.** "**Bylaws**" means the bylaws of the Company, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4.** "**Certificate of Incorporation**" means the Certificate of Incorporation of the Company, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5.** "**Change in Control**" shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5.1. Acquisition of Stock by Third Party**. Any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company's then outstanding securities unless the change in relative Beneficial Ownership of the Company's securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5.2. Change in Board of Directors**. During any period of two consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 2.5.1, 2.5.3 or 2.5.4) whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5.3. Corporate Transactions**. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the Surviving Entity) more than 50% of the combined voting power of the voting securities of the Surviving Entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such Surviving Entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5.4. Liquidation**. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company's assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5.5. Other Events**. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act, whether or not the Company is then subject to such reporting requirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6.** "**Corporate Status**" describes the status of a person who is or was a director, trustee, partner, managing member, officer, employee, Agent or fiduciary of the Company or of any other corporation, limited liability company, partnership or joint venture, trust or Other Enterprise which such person is or was serving at the request of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7.** "**DGCL**" means the General Corporation Law of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8.** "**Disinterested Director**" shall mean a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.9.** "**Enterprise**" shall mean the Company and any other corporation, limited liability company, partnership, joint venture, trust or Other Enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, employee, Agent or fiduciary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.10.** "**Exchange Act**" shall mean the Securities Exchange Act of 1934, as amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.11.** "**Expenses**" shall include all reasonable attorneys' fees, retainers, court costs, transcript costs, fees and other costs of experts and other professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements, obligations or expenses of the types customarily incurred in connection with, or as a result of, prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a deponent or witness in, or otherwise participating in, a Proceeding. Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, (ii) Expenses incurred in connection with recovery under any directors' and officers' liability insurance policies maintained by the Company, regardless of whether Indemnitee is ultimately determined to be entitled to such indemnification, advancement or Expenses or insurance recovery, as the case may be, and (iii) for purposes of Section 14.4 only, Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee's rights under this Agreement, the Certificate of Incorporation, the Bylaws or under any directors' and officers' liability insurance policies maintained by the Company, by litigation or otherwise. The parties agree that for the purposes of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance with this Agreement, all Expenses included in such demand that are certified by affidavit of Indemnitee's counsel as being reasonable in the good faith judgment of such counsel shall be presumed conclusively to be reasonable. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.12.** "**Independent Counsel**" shall mean a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel" shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.13.** "**Person**" shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; **provided**, **however**, that Person shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any entity owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.14.** "**Proceeding**" shall include any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, legislative, regulatory or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise by reason of Indemnitee's Corporate Status, by reason of any action taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on Indemnitee's part while acting pursuant to Indemnitee's Corporate Status, in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification, reimbursement, or advancement of Expenses can be provided under this Agreement. If the Indemnitee believes in good faith that a given situation may lead to or culminate in the institution of a Proceeding, this shall be considered a Proceeding under this paragraph.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.15.** "**Other Enterprise**" shall include employee benefit plans; references to "fines" shall include any excise tax assessed with respect to any employee benefit plan; references to "serving at the request of the Company" shall include any service as a director, officer, employee or Agent of the Company which imposes duties on, or involves services by, such director, officer, employee or Agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the Company" as referred to in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.16.** "**Surviving Entity**" shall mean the surviving entity in a merger or consolidation or any entity that controls, directly or indirectly, such surviving entity.

**3. Indemnity in Third-Party Proceedings**. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding had no reasonable cause to believe that Indemnitee's conduct was unlawful. The parties hereto intend that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of that expressly permitted by statute, including, without limitation, any indemnification provided by the Certificate of Incorporation, the Bylaws, vote of the Company's stockholders or disinterested directors or applicable law.

**4. Indemnity in Proceedings by or in the Right of the Company**. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that the Delaware Court or any court in which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification.

**5. Indemnification for Expenses of a Party Who is Wholly or Partly Successful**. Notwithstanding any other provisions of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by or on behalf of Indemnitee in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

**6. Indemnification For Expenses of a Witness**. Notwithstanding any other provision of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is, by reason of Indemnitee's Corporate Status, a witness, is or was made (or asked) to respond to discovery requests in any Proceeding, or otherwise asked to participate in any Proceeding to which Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection therewith.

**7. Partial Indemnification**. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

**8. Additional Indemnification**. Notwithstanding any limitation in Sections 3, 4, or 5, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable law if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) by reason of Indemnitee's Corporate Status. For purposes of this Section 8, the meaning of the phrase "to the fullest extent permitted by applicable law" shall include, but not be limited to: (i) to the fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the DGCL, and (ii) to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors.

**9. Exclusions**. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnification payment in connection with any claim involving Indemnitee: (a) for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or (b) for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act or similar provisions of state statutory law or common law, (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the "**Sarbanes-Oxley Act**"), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act) or (iii) any reimbursement (such Proceeding, a "**Clawback Proceeding**") of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy adopted by the Board or the compensation committee of the Board, including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act (a "**Clawback Policy**"); or (c) except as provided in Section 14.4, in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation, (ii) such payment arises in connection with any mandatory counterclaim or cross claim brought or raised by Indemnitee in any Proceeding (or any part of any Proceeding), or (iii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

**10. Advances of Expenses**. Notwithstanding any provision of this Agreement to the contrary (other than Section 14.4), the Company shall advance, to the extent not prohibited by law, the Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding (or any part of any Proceeding) not initiated by Indemnitee or any Proceeding initiated by Indemnitee with the prior approval of the Board as provided in Section 9, and such advancement shall be made within 30 days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee's ability to repay the Expenses and without regard to Indemnitee's ultimate entitlement to indemnification under the other provisions of this Agreement. In accordance with Section 14.4, advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement, which shall constitute an undertaking providing that the Indemnitee undertakes to repay the amounts advanced (without interest) by the Company pursuant to this Section 10, if and only to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. No other form of undertaking shall be required other than the execution of this Agreement. This Section 10 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 9.

**11. Procedure for Notification and Defense of Claim**. Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof. The written notification to the Company shall include a description of the nature of the Proceeding and the facts underlying the Proceeding. To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding. The omission by Indemnitee to notify the Company hereunder will not relieve the Company from any liability which it may have to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification. The Company will be entitled to participate in the Proceeding at its own expense. The Company shall not settle any Proceeding (in whole or in part) if such settlement would impose any Expense, judgment, liability, fine, penalty or limitation on Indemnitee in respect of which Indemnitee is not entitled to be indemnified hereunder without Indemnitee's prior written consent, which shall not be unreasonably withheld.

**12. Procedure Upon Application for Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1.** Upon written request by Indemnitee for indemnification pursuant to Section 11, a determination, if required by applicable law, with respect to Indemnitee's entitlement thereto shall be made in the specific case: (i) if a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change in Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee or (D) if so directed by the Board, by the stockholders of the Company; and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee's entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including attorneys' fees and disbursements) incurred by or on behalf of Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee's entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. The Company promptly will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2.** In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12.1, the Independent Counsel shall be selected as provided in this Section 12.2. If a Change in Control shall not have occurred, the Independent Counsel shall be selected by the Board, and the Company shall give written notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so selected. If a Change in Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within 10 days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of "Independent Counsel" as defined in Section 2, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or the Delaware Court has determined that such objection is without merit. If, within 20 days after the later of submission by Indemnitee of a written request for indemnification pursuant to Section 11.1 and the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court for resolution of any objection which shall have been made by the Company or Indemnitee to the other's selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by such court or by such other person as such court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12.1. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14.1 of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.3.** If the Company disputes a portion of the amounts for which indemnification is requested, the undisputed portion shall be paid and only the disputed portion withheld pending resolution of any such dispute.

**13. Presumptions and Effect of Certain Proceedings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.1.** In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 11(a), and the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2.** Subject to Section 14.5, if the person, persons or entity empowered or selected under Section 12 to determine whether Indemnitee is entitled to indemnification shall not have made a determination within 60 days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, that the foregoing provisions of this Section 13.2 shall not apply (i) if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 12.1 and if (A) within 15 days after receipt by the Company of the request for such determination the Board has resolved to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within 75 days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within 15 days after such receipt for the purpose of making such determination, such meeting is held for such purpose within 60 days after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3.** The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee's conduct was unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.4.** For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee's action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee by the directors or officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser, financial advisor or other expert selected with reasonable care by or on behalf of the Enterprise. The provisions of this Section 13.4 shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.5.** The knowledge and/or actions, or failure to act, of any director, officer, trustee, partner, managing member, fiduciary, Agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.

**14. Remedies of Indemnitee**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.1.** Subject to Section 14.5, in the event that (i) a determination is made pursuant to Section 12 that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 10, (iii) no determination of entitlement to indemnification shall have been made pursuant to Sections 12.1 within 90 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Sections 5, 6 or 7 or the second to last sentence of Section 12.1 within ten days after receipt by the Company of a written request therefor, (v) payment of indemnification pursuant to Section 3, 4 or 8 is not made within ten days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) the Company or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by a court of Indemnitee's entitlement to such indemnification or advancement of Expenses. Alternatively, Indemnitee, at Indemnitee's option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 14.1. The Company shall not oppose Indemnitee's right to seek any such adjudication or award in arbitration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.2.** In the event that a determination shall have been made pursuant to Section 12.1 that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 14 the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.3.** If a determination shall have been made pursuant to Section 12.1 that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.** The Company shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement. It is the intent of the Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur legal fees or other Expenses associated with the interpretation, enforcement or defense of Indemnitee's rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee hereunder. The Company shall, to the fullest extent permitted by law, indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within ten days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such Expenses to Indemnitee, which are incurred by or on behalf of Indemnitee in connection with any action brought by Indemnitee for indemnification or advancement of Expenses from the Company under this Agreement or under any directors' and officers' liability insurance policies maintained by the Company if, in the case of indemnification, Indemnitee is wholly successful on the underlying claims; if Indemnitee is not wholly successful on the underlying claims, then such indemnification shall be only to the extent Indemnitee is successful on such underlying claims or otherwise as permitted by law, whichever is greater.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.5.** Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement of Indemnitee to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding.

**15. Non-exclusivity; Survival of Rights; Insurance; Subrogation**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.1.** The rights of indemnification and to receive advancement of Expenses as provided by this Agreement (i) shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise and (ii) shall be interpreted independently of, and without reference to, any other such rights to which Indemnitee may at any time be entitled. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by Indemnitee in Indemnitee's Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Bylaws, Certificate of Incorporation and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.2.** To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or Agents of the Enterprise, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer, employee or Agent under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.3.** In the event of any payment made by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.4.** The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.5.** The Company's obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, fiduciary, employee or Agent of any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or Other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such other corporation, limited liability company, partnership, joint venture, trust or Other Enterprise.

**16. Duration of Agreement**. This Agreement shall continue until and terminate upon the later of: (a) ten years after the date that Indemnitee shall have ceased to serve as a director or officer of the Company or (b) one year after the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding (including any appeal thereof) commenced by Indemnitee pursuant to Section 14 of this Agreement relating thereto. The indemnification and advancement of expenses rights provided by or granted pursuant to this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or Agent of the Company or of any other Enterprise, and shall inure to the benefit of Indemnitee and Indemnitee's spouse, assigns, heirs, devisees, executors and administrators and other legal representatives. The Company shall require and shall cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company to, by written agreement, expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

**17. Severability**. Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of applicable law. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

**18. Enforcement**. The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving or continuing to serve as a director or officer of the Company. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the Bylaws, any directors' and officers' insurance maintained by the Company and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

**19. Modification and Waiver**. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

**20. Notice by Indemnitee**. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to the Indemnitee under this Agreement or otherwise.

**21. Notices**. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed or (d) sent by facsimile transmission, with receipt of oral confirmation that such transmission has been received: (i) if to Indemnitee, at the home address on file with the Company, or such other address as Indemnitee shall provide to the Company and (ii) if to the Company to its corporate headquarters, attention: General Counsel, or to any other address as may have been furnished to Indemnitee by the Company.

**22. Contribution**. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and Agents) and Indemnitee in connection with such event(s) and/or transaction(s).

**23. Applicable Law and Consent to Jurisdiction**. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14.1, the Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Court of Chancery of the State of Delaware (the "**Delaware Court**"), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware, irrevocably RL&F Service Corp., 920 North King Street, 2<sup>nd</sup> Floor, Wilmington, New Castle County, Delaware 19801 as its agent in the State of Delaware as such party's agent for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

**24. General Terms**. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement. The headings of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

---

| | | |
|:---|:---|:---|
| **Accepted & Agreed:** | | |
| **DEEP FISSION, INC.,** | **INDEMNITEE** | **INDEMNITEE** |
| By: | By: |  |
| Name: Jon Gordon |  | Name: |
| Title: General Counsel & Secretary |  |  |
| Date: | Date: |  |

---

## Exhibit 10.3

**Exhibit 10.3**

![](tm2530746d1_ex10-3img001.jpg)

**Executive Severance and Change in Control Policy**

(As adopted by the Compensation Committee effective as of November 7, 2025)

For purposes of this Executive Severance and Change in Control Policy (this "**Policy**"), "**Executives**" means any executive officer of Deep Fission, Inc. ("**Deep Fission**") to whom the Board of Directors of Deep Fission (the "**Board**") has extended the benefits of this Policy, as set forth in such individual's offer letter or other written agreement. Capitalized terms used but not defined in this Policy have the meanings given in Deep Fission's 2025 Equity Incentive Plan, as amended (the "**Plan**").

**I.** **Executive Severance** 

If, at any time other than during a Change in Control, Deep Fission terminates an Executive's employment without Cause or Executive resigns for Good Reason (as defined below), and provided that such termination or resignation constitutes a "separation from service" within the meaning of Treasury Regulation § 1.409A-1(h) (a "**Separation**"), then, subject to (a) Executive's timely execution and non-revocation (if applicable) of a separation agreement containing a release of claims in a form reasonably acceptable to Deep Fission (the "**Release**") that includes customary confidentiality, non-disparagement, and cooperation covenants, (b) the Release becoming effective and irrevocable (if applicable) no later than 60 days following the date of Executive's Separation (the "**Measurement Date**"), and (c) Executive's continued compliance with Executive's offer letter and Proprietary Information & Intellectual Property Agreement, Deep Fission will provide Executive with the following:

&nbsp;&nbsp;&nbsp;&nbsp;· **Cash Severance**. Payment of six months of Executive's then-current base salary, less applicable
withholdings, payable in substantially equal installments over six months in accordance with Deep Fission's regular payroll schedule;
provided that payments otherwise due prior to the Measurement Date shall instead be accumulated and paid in a lump sum on the first payroll
date following the Measurement Date.

&nbsp;&nbsp;&nbsp;&nbsp;· **Pro-Rata Annual Bonus**. Payment of a pro-rata portion of Executive's target annual bonus,
less applicable withholdings, for the calendar year in which Executive's Separation occurs, based on the number of days Executive
was employed during such calendar year, payable in a lump sum on the first regular payroll date following the Measurement Date.

&nbsp;&nbsp;&nbsp;&nbsp;· **COBRA / Health Continuation**. To the extent Executive is eligible for and timely elects continued
group health-care coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ()"**COBRA** "),
Deep Fission will either, at its discretion, directly pay to the carrier or reimburse Executive for the full COBRA premiums necessary
to continue Executive's then-current health insurance coverage (including eligible dependents) for the period beginning on Executive's
Separation and ending on the earliest to occur of: (a) six months following the date of Separation; (b) the date Executive obtains
comparable health-care coverage through another source; or (c) the date Executive otherwise ceases to be eligible for COBRA (the
 "**COBRA Period** "). If direct payment or reimbursement would violate applicable law (including Section 2716 of the
Public Health Service Act), Deep Fission will instead pay Executive a taxable monthly cash amount equal to the applicable COBRA premium,
less withholdings, for the duration of the COBRA Period.

&nbsp;&nbsp;&nbsp;&nbsp;· **Equity Acceleration**. As of the Measurement Date, the unvested portion of each outstanding time-based
equity award, if any, will accelerate and become vested as to the number of shares that would have vested had Executive remained employed
for an additional six months following Executive's termination date, determined by reference to the regular time-based vesting schedule
of each award. Performance-based awards will remain outstanding and continue to vest only upon satisfaction of the applicable performance
conditions under their original terms. The forfeiture of any unvested equity otherwise scheduled to occur upon termination will be tolled
until the Measurement Date solely for purposes of implementing this acceleration; provided, however, that in no event shall any stock
option or restricted stock unit remain outstanding beyond its stated maximum term.

**II.** **Change in Control** 

If a Separation occurs at any time during the period commencing three months prior to a Change in Control and ending twelve months following a Change in Control, then, subject to the obligations set forth above for Executive's receipt of general severance, Deep Fission will provide Executive with the following enhanced severance benefits:

&nbsp;&nbsp;&nbsp;&nbsp;· **Cash Severance**. Payment of eighteen months of Executive's then-current base salary (less applicable
withholdings) payable in a single lump sum on the first regular payroll date following the Measurement Date.

&nbsp;&nbsp;&nbsp;&nbsp;· **Change in Control Bonus**. Payment of a lump sum equal to 100% of Executive's annual target bonus
(less applicable withholdings) for the fiscal year in which Executive's Separation occurs, payable on the first regular payroll date following
the Measurement Date.

&nbsp;&nbsp;&nbsp;&nbsp;· **COBRA / Health Continuation**. The COBRA Period shall be extended to eighteen months.

&nbsp;&nbsp;&nbsp;&nbsp;· **Acceleration of Time-Based Awards**. Each of Executive's outstanding unvested equity awards subject
to time-based vesting will accelerate and become fully vested (and, if applicable, exercisable) as of the Measurement Date. Any performance-based
equity awards will remain subject to their original performance conditions, except that if the performance period has not ended as of
the Change in Control, the performance goals shall be deemed achieved at target unless otherwise provided in the applicable award agreement.
In no event shall any stock option or restricted stock unit remain outstanding beyond its stated maximum term.

**III.** **Section 409A** 

It is intended that the payments and benefits provided under this Policy be exempt from, or comply with, Section 409A of the Internal Revenue Code of 1986, as amended (the "**Code**"), and the Treasury Regulations and related guidance issued thereunder (together with any state law of similar effect, "**Section 409A**"). For purposes of Section 409A (including, without limitation, Treasury Regulation 1.409A-2(b)(2)(iii)), Executive's right to receive any installment payments (whether severance payments, reimbursements, or otherwise) shall be treated as a right to receive a series of separate payments, and each installment shall at all times be considered a separate and distinct payment.

Notwithstanding any provision of this Policy to the contrary, if Deep Fission or any successor entity determines that any payments or benefits hereunder constitute "deferred compensation" under Section 409A and Executive is, on the date of Executive's Separation, a "specified employee" (within the meaning of Section 409A(a)(2)(B)(i)), then, solely to the extent necessary to avoid adverse personal tax consequences under Section 409A, such payments or benefits shall be delayed until the earliest of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the date that is six months and one day after Executive's Separation;

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date of Executive's death; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) such earlier date as may be permitted under Section 409A without adverse taxation.

Upon the first business day following the expiration of such delay period, all payments or benefits deferred pursuant to this paragraph shall be paid in a lump sum (or provided in full) by Deep Fission or any successor entity, with any remaining payments made as otherwise provided in this Policy. No interest shall be due on any deferred amounts.

If the payments and benefits under this Policy are not exempt from Section 409A and the Release could become effective in the calendar year following the year of Executive's Separation, the Release shall be deemed effective on the Measurement Date, and no payments subject to Section 409A shall be made until that date. To the extent required to comply with Section 409A, a termination of employment shall not be deemed to occur for purposes of this Policy unless such termination constitutes a "separation from service" within the meaning of Section 409A.

With respect to reimbursements or in-kind benefits provided to Executive under this Policy that are not exempt from Section 409A, the following rules shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during any one taxable
year shall not affect those in any other taxable year;

&nbsp;&nbsp;&nbsp;&nbsp;(b) reimbursements of eligible expenses shall be made on or before the last day of Executive's taxable
year following the taxable year in which the expense was incurred; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another
benefit.

Nothing in this Policy shall be construed as a guarantee by Deep Fission of any particular tax treatment, and Deep Fission makes no representation that the payments or benefits provided hereunder will be exempt from or comply with Section 409A. Deep Fission shall not be liable for any taxes, interest, penalties, or other losses arising under Section 409A or otherwise, except as required by law.

**IV.** **Section 280G (Parachute Payments)** 

In the event that (a) any payment or benefit arising out of or in connection with a change in ownership or effective control of Deep Fission, or a substantial portion of its assets, within the meaning of Section 280G of the Code, is made or provided, or could be made or provided, by Deep Fission or any successor or affiliate to Executive, whether pursuant to this Policy or any other plan, agreement, or arrangement (each such payment or benefit, a "**Parachute Payment**"), and (b) such Parachute Payments would be subject to the excise tax imposed by Section 4999 of the Code (the "**Excise Tax**"), and the net after-tax amount (taking into account all applicable taxes, including any Excise Taxes) that Executive would receive with respect to such Parachute Payments is less than the net after-tax amount Executive would receive if such Parachute Payments were reduced to the maximum amount that could be paid without triggering the Excise Tax, then such Parachute Payments shall be reduced to the extent necessary to eliminate the imposition of the Excise Tax.

Any reduction in Parachute Payments required under this Section IV shall be implemented in the following order:

&nbsp;&nbsp;&nbsp;&nbsp;(a) First, from cash payments;

&nbsp;&nbsp;&nbsp;&nbsp;(b) Next, from benefits other than equity; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) Finally, from equity award acceleration — and, within each category, in reverse order of the scheduled payment or vesting dates.

For the avoidance of doubt, neither Deep Fission nor any of its affiliates shall have any obligation to provide any tax gross-up or similar payment with respect to Section 280G or 4999 of the Code, or any other taxes imposed on Executive in connection with payments or benefits provided under this Policy or any other plan, agreement, or arrangement.

All determinations required under this Section IV shall be made by an independent accounting firm selected by Deep Fission, at Deep Fission's expense.

**V.** **General** 

This Policy supersedes all prior agreements or understandings regarding severance or Change in Control benefits for Executives. Any accrued rights or obligations that remain outstanding as of the date of this Policy (including vested equity awards and reimbursement rights) shall survive in accordance with their terms. If any provision of this Policy is held unenforceable, the remainder shall remain in full force and effect. This Policy shall be governed by and construed in accordance with the laws of the State of Delaware. Any disputes arising out of or relating to this Policy shall be resolved through binding arbitration in accordance with the terms of Executive's Proprietary Information & Intellectual Property Agreement. All payments made pursuant to this Policy will be subject to withholding of applicable income and employment taxes. Notwithstanding any provision of this Policy to the contrary, to the extent that Executive is entitled to any period of paid notice under Federal or state law including, but not limited to, the Worker Adjustment Retraining Notification Act of 1988, the benefits and amounts payable under this Policy shall be reduced (but not below zero) by the base pay received by Executive during the period of such paid notice.