Document:

Exhibit 10.38

   

   

  [***] Certain information in this document has been excluded pursuant to
      Regulation S-K, Item (601)(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

   

  

   

  MASTER SERVICES AGREEMENT

   

  THIS MASTER SERVICES AGREEMENT (this “Agreement”) dated
      July 13, 2017 is by and between .com Distribution Corp., a Delaware corporation, with offices located at 300 Nixon Lane, Edison, New Jersey 08837 (“DOTCOM”), and Milk Makeup LLC, a Delaware limited liability company with principal offices located at
      450 W. 15th Street, Suite 200, New York, New York 10011 (“MILK MAKEUP”).

   

  RECITALS

   

  WHEREAS, DOTCOM desires to provide to MILK MAKEUP, and
      MILK MAKEUP desires to receive from DOTCOM, fulfillment services under the terms and conditions of this Agreement and the Schedules (as defined below) hereto.

   

  NOW, THEREFORE, in consideration of the mutual covenants
      and agreements contained herein, DOTCOM and MILK MAKEUP, intending to be legally bound, hereby agree as follows:

   

  ARTICLE I

  SCHEDULES AND FULFILLMENT SERVICE FEES

   

  Section 1.1    Services: Pricing.

   

  		a)	During the Term (as defined below), DOTCOM shall provide the fulfillment services (the “Services”) set forth on Exhibit A
            Statement of Work (SOW), which is made a part hereof. The parties acknowledge and agree that the fulfillment services and corresponding rates set forth in the SOW are predicated upon certain information and assumptions provided by MILK MAKEUP
            to DOTCOM. The information and assumptions are included in the SOW and are identified in the Key Assumptions section. Mutually agreed Service Levels and pricing is also incorporated in the SOW.

   

  		b)	From time to time during the Term, MILK MAKEUP may request that DOTCOM provide additional Services. There may also be
            material changes in MILK MAKEUP’S business, which impacts products warehoused at DOTCOM, order characteristics, packaging requirements, order volume or other key assumptions. In the event of material changes to the services and assumptions
            outlined in the SOW or a request for new services to be provided, an SOW Change Order will be prepared outlining changes of scope of service and the associated adjustments in cost, when applicable. Any such request for additional Services shall
            be in writing. DOTCOM reserves the right to accept or decline the request to provide the additional Services for any reason, provided that DOTCOM shall in good faith give any such request due and fair consideration. In the event DOTCOM agrees
            to provide the additional Services at a price agreeable to MILK MAKEUP, then the parties shall prepare the SOW Change Order for the purpose of amending the SOW.

   

  Section 1.2     Adjustments to Fees. Notwithstanding the terms of Section 1, DOTCOM reserves the right to increase its fees on each anniversary date of this Agreement. The increase will be equal to the percentage increase, if
      any, in the Consumer Price Index - All Items - Northeast Urban Area published by the U.S. Department of Labor for the most recent twelve (12) month period. In the event DOTCOM experiences wage increases or other labor costs driven by market
      conditions or federal, state, or local government mandate, any of which materially affect DOTCOM’S ability to perform the services required in this Agreement at the costs set forth in the SOW, both parties agree that DOTCOM reserves the right to
      adjust fees at a rate commensurate with said increases.

   

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  Section 1.3                 Postage

        and Freight. DOTCOM agrees to ship MILK MAKEUP parcels under the terms and conditions of DOTCOM’s agreements with its carriers. Both parties agree that freight is not considered to be a Service, but an accommodation to ship under DOTCOM carrier
      agreements. DOTCOM shall be responsible to pay carriers directly for required postage, freight and shipping costs incurred on behalf of MILK MAKEUP. MILK MAKEUP shall then be charged and obligated to pay postage, freight and shipping rates to DOTCOM
      at DOTCOM’S cost plus [****]. MILK MAKEUP, at its option, may elect to manage freight relationships and freight payments directly at no additional charge. Should any additional transit functionality be requested by MILK MAKEUP as a result of its
      election to manage direct freight relationships, a mutually agreed upon Transportation Management Fee may apply. DOTCOM considers all postage, freight and shipping cost information to be Confidential Information (as defined below). MILK MAKEUP may,
      at DOTCOM’S discretion, be required to maintain an advanced freight deposit equivalent to an average of sixty (60) days’ freight charges should DOTCOM’S carrier account(s) be utilized. Should MILK MAKEUP be delinquent on any payments to DOTCOM for
      freight or services, both parties agree that DOTCOM may suspend the use of its carriers’ accounts.

   

  Section 1.4   Tax Matters. MILK MAKEUP
      shall pay all state and local sales, use, property or other taxes (except taxes on DOTCOM’S property or net income) that may be assessed against MILK MAKEUP with respect to this Agreement or the Services provided hereunder. MILK MAKEUP acknowledges
      that it or its agent is solely responsible for identifying and resolving sales and use tax collection issues for product orders, including the necessity of charging, collecting and remitting such taxes.

   

  Section 1.5   Reports. DOTCOM shall provide
      MILK MAKEUP with all reports available via DOTCOM’S internet reporting tool. There will be no cost to MILK MAKEUP for access to said reports. MILK MAKEUP acknowledges that customized reports requested may incur computer programming charges as
      outlined in the pricing schedule section of the SOW. DOTCOM s provide a written estimate of any such charges prior to developing any requested reports and no development work shall commence prior to MILK MAKEUP providing written authorization.

   

  ARTICLE II

  PAYMENT TERMS

   

  Section 2.1    Fulfillment and All Other
        Services. DOTCOM shall invoice MILK MAKEUP every seven (7) days for all Services and postage and freight if applicable via email, setting forth: (i) a detailed list of all Services provided to MILK MAKEUP during the prior seven (7) days (e.g.,
      quantity/rate/extension) and (ii) associated charges for the Services. DOTCOM shall include with each invoice, backup documentation, reasonably satisfactory to MILK MAKEUP, evidencing all such charges. MILK MAKEUP shall pay all invoiced amounts
      within twenty-one (21) days of invoice date, via ACH transfer.

   

  Section 2.2  Interest.
      DOTCOM shall charge interest at a rate of [****] per month on all receivables not paid within the time periods set forth in Section 2.1. Interest shall accrue commencing on the 45th day after the date of invoice, and shall continue to accrue until
      all overdue payments, plus interest charges, are paid in full.

   

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  Section 2.3    Minimum Billing Requirement.
      The parties agree that should minimum monthly fees apply, they shall be exclusive of freight charges, packaging materials and any services or reimbursable expenses deemed as “pass through costs” by DOTCOM.

   

  ARTICLE III

  BOOKS AND RECORDS

   

  Section 3.1                Recordkeeping.
      Both parties agree to keep complete and accurate books of account, records, and other documents with respect to this Agreement and any Schedules (collectively, “Books and Records”). Such Books and Records shall be kept by both parties for the longer
      of: (i) a period of time consistent with the longer of DOTCOM’S and MILK MAKEUP’S general books and records retention policy, or (ii) three (3) years following the expiration or earlier termination of this Agreement. MILK MAKEUP shall have the right
      to inspect DOTCOM’s applicable books and records upon three business days’ prior notice to DOTCOM.

   

  ARTICLE IV

  TERM AND TERMINATION

   

  Section 4.1     Term and
        Renewal.

   

  a)    The term of this Agreement (the
      “Term”) is in effect from the date DOTCOM begins to ship all direct to consumer, wholesale, and retail orders on behalf of MILK MAKEUP and shall continue for thirty-six (36) months thereafter, unless earlier terminated in accordance with this Article
      IV.

   

  b)    MILK MAKEUP agrees that DOTCOM
      shall be the exclusive provider of distribution services during the Term with the exception of any items that are drop-shipped directly from MILK MAKEUP’S product vendors.

   

  c)    The Term shall renew
      automatically for successive twelve (12) month periods, unless either party elects not to renew by written notice to the other party no later than one hundred and twenty (120) days prior to the expiration of the then-current Term.

   

  Section 4.2    Termination.
      This Agreement or the Services provided pursuant to any Schedule may be terminated as follows:

   

  a)    Breach. By either party, upon sixty (60)
      days’ prior written notice to the other party, in the event of a material breach of this Agreement by the other party. A material breach will specifically include, among other things, consistent non-achievement of the service levels specified in
      Section 1.6 or late/non- payment of undisputed invoices. The written notice shall specify the precise nature of the breach. In the event the breaching party cures the breach within the next thirty (30) days after the date of the written notice, then
      this Agreement shall not terminate.

   

  b)    Insolvency. By either party, immediately
      upon written notice to the other party, in the event the other party voluntarily files or has filed involuntarily against it a petition under the United States Bankruptcy Code for the appointment of a receiver or a trustee of all or substantially all
      of such party’s property or makes an assignment, petitions for, or enters into an arrangement for the benefit of creditors.

   

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  c)    Convenience. By MILK
      MAKEUP with one hundred and twenty (120) days written notice. In the event of such Termination for Convenience, DOTCOM and MILK MAKEUP agree that MILK MAKEUP will pay an early termination fee, which will be due and payable prior to the termination
      date. The termination fee shall be calculated at [****] percent of the average monthly billing rate, which will then be applied to each remaining month of this Agreement. The average monthly billing rate will be calculated by determining the monthly
      billing average over the previous sixth month period preceding the termination date.

   

  For the avoidance of doubt: If DOTCOM invoices to MILK
      MAKEUP equaled [****] over the most recent six month period, the average monthly billing rate would be [****]. If MILK MAKEUP elected to terminate this Agreement with three months remaining in the term, the termination fee would be [****] or [****]
      for each remaining month.

   

  Section 4.3    Other Rights. The rights of
      the parties above to terminate this Agreement or any Schedule is not exclusive of any other rights and remedies available at law or in equity, and such rights shall be cumulative. The exercise of any such right or remedy shall not preclude the
      exercise of any other rights and remedies.

   

  Section 4.4    Post-Termination Performance.
      Notwithstanding the expiration or earlier termination by either party of this Agreement or the Services provided pursuant to any Schedule, DOTCOM shall continue to fulfill all orders from MILK MAKEUP and MILK MAKEUP shall continue to remit amounts
      due to DOTCOM under this Agreement or any Schedule, in connection with any product orders made prior to the effective date of such expiration or earlier termination of this Agreement.

   

  Section 4.5    Survival. Sections 3.1, 4.4,
      4.5 and Articles VII, VIII, X and XI shall survive any expiration or earlier termination of this Agreement or any Schedule, as applicable.

   

  ARTICLE V

  RELATIONSHIP OF THE PARTIES

   

  Section 5.1    Independent Contractors. The
      relationship created hereunder between DOTCOM and MILK MAKEUP shall be solely that of independent contractors entering into an agreement. No representations or assertions shall be made or actions taken by either party which could imply or establish
      any agency, joint venture, partnership, employment or trust relationship between the parties with respect to the subject matter of this Agreement or any Schedule. Neither DOTCOM nor MILK MAKEUP shall have any authority or power whatsoever to enter
      into any agreement, contract or commitment on behalf of the other, or to create any liability or obligation whatsoever on behalf of the other, to any person or entity.

   

  Section 5.2    Subcontractors. DOTCOM
      reserves the right to subcontract with other individuals and businesses (each, a “Subcontractor”) for any and all of the Services required to be performed pursuant to this Agreement. Use of any Subcontractor shall be subject to receipt of the prior
      written consent of MILK MAKEUP, not to be unreasonably withheld or delayed. Notwithstanding MILK MAKEUP’S approval of the subcontracting of any of the Services to a Subcontractor, DOTCOM shall: (i) be responsible for all work undertaken by a
      Subcontractor, (ii) ensure that the quality of work, services and goods supplied by any Subcontractor is substantially equal to or better than those DOTCOM would normally provide or supply, and will otherwise conform to the provisions of this
      Agreement, and (iii) be responsible for all work undertaken by a Subcontractor. DOTCOM shall be responsible for all payments to, as well as the direction and control of the work to be performed by Subcontractors, if any.

   

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  ARTICLE VI

  INVENTORY, FACILITIES AND RISK OF LOSS

   

  Section 6.1   General. MILK MAKEUP shall
      provide DOTCOM with sufficient inventory, as reasonably determined by MILK MAKEUP (the “Inventory”) to meet the fulfillment requirements under this Agreement. DOTCOM shall have no liability to MILK MAKEUP or third parties for losses caused directly
      or indirectly by MILK MAKEUP’S failure to provide sufficient Inventory.

   

  Section 6.2   Title. DOTCOM acknowledges
      that MILK MAKEUP shall retain all right and title to all Inventory and packaging materials, which MILK MAKEUP causes to be delivered to DOTCOM under this Agreement. MILK MAKEUP reserves the right to inspect or request removal (at MILK MAKEUP’S
      expense) any and all Inventory from DOTCOM’S possession and control provided MILK MAKEUP is current on all payments to DOTCOM.

   

  Section 6.3    Risk of Loss. DOTCOM shall
      be responsible for all risk of direct physical loss due to errors in shipping, as well as DOTCOM’S employees’ and agent’s actions, including, but not limited to, damage to the Inventory while it is in DOTCOM’S possession during the Term of this
      Agreement and will reimburse MILK MAKEUP at the net merchandise cost, or lower, as shown on the MILK MAKEUP’S books (i) 0% of all Inventory Shrinkage which is equal to or less than .5% and (ii) 100% of all Inventory Shrinkage, which exceeds .5%. For
      purposes of this agreement, “Inventory Shrinkage” means the quotient, expressed as a percentage, which results from dividing (x) the aggregate of all variances arising during any calendar year by (y) the total merchandise Inventory receipts processed
      by DOTCOM during the prior twelve (12) months.

   

  ARTICLE VII

    REPRESENTATIONS AND WARRANTIES

   

  Section 7.1   Representations and Warranties of
        DOTCOM. With the knowledge that MILK MAKEUP is relying thereon in entering into this Agreement and any Schedule hereto, DOTCOM hereby represents, warrants and covenants to MILK MAKEUP as follows:

   

  a)    DOTCOM is a corporation duly organized, validly
      existing, and in good standing under the laws of the State of Delaware and duly qualified to conduct business in New Jersey, and has the full power and authority to enter into and carry out the terms of this Agreement.

   

  b)    This Agreement (including all Schedules) constitutes
      the legal, valid, and binding obligation of DOTCOM, enforceable against DOTCOM in accordance with its terms except as enforcement may be limited by any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights
      generally and except as enforcement may be limited by general principles of equity. DOTCOM has taken or will have taken all corporate action necessary for the authorization, execution and delivery of this Agreement and any Schedule and for the
      performance by DOTCOM of its obligations under this Agreement and any Schedule.

   

  c)    DOTCOM’s execution, delivery and performance of this
      Agreement (including all Schedules) does not and will not, directly or indirectly, conflict with, or result in a violation or breach of any contractual obligation to which it is a party or any order, injunction, writ or decree of any governmental
      authority to which it or its property is subject.

   

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   d) DOTCOM is not and shall not be required to give any
      notice to or obtain any consent from any person in connection with the execution and delivery of this Agreement or any Schedule or the consummation or performance of any of its obligations hereunder.

   

  e) DOTCOM is in compliance with all applicable federal and
      state laws, including, but not limited to, employment rules and regulations.

   

  Section 7.2   Representations and Warranties of
        MILK MAKEUP. With the knowledge that DOTCOM is relying thereon in entering into this Agreement and any Schedule hereto, MILK MAKEUP hereby represents, warrants and covenants to DOTCOM as follows:

   

  a)      MILK MAKEUP is a company duly organized, validly
      existing, and in good standing under the laws of the State of its organization and has the full power and authority to enter into and carry out the terms of this Agreement.

   

  b)      This Agreement (including any Schedules)
      constitutes the legal, valid, and binding obligation of MILK MAKEUP, enforceable against MILK MAKEUP in accordance with its terms except as enforcement may be limited by any applicable bankruptcy, insolvency, reorganization or similar laws affecting
      creditors’ rights generally and except as enforcement may be limited by general principles of equity. MILK MAKEUP has taken or will have taken all corporate action necessary for the authorization, execution and delivery of this Agreement and any
      Schedule and for the performance by MILK MAKEUP of its obligations under this Agreement and any Schedule.

   

  c)      MILK MAKEUP’S execution, delivery and performance
      of this Agreement (including all Schedules) does not and will not, directly or indirectly, conflict with, or result in a violation or breach of any provision of any contractual obligation to which it is a party or any order, injunction, writ or
      decree of any governmental authority to which it or its property is subject.

   

  d)      MILK MAKEUP is not and shall not be required to
      give any notice to or obtain any consent from any person in connection with the execution and delivery of this Agreement or any Schedule or the consummation or performance of any of its obligations hereunder.

   

  e)      MILK MAKEUP is in compliance with all applicable
      federal and state laws, including, but not limited to, employment rules and regulations.

   

  ARTICLE VIII

    INDEMNIFICATION, INSURANCE AND LIMITATIONS ON LIABILITY

   

  Section 8.1 Indemnification by DOTCOM.
      Subject to the limitations specified in this Article VIII, DOTCOM shall indemnify, hold harmless and defend MILK MAKEUP and each person or entity that is a stockholder, member, manager, officer, director, partner, employee, affiliate or agent of MILK
      MAKEUP from and against any and all losses, claims, damages, liabilities, whether joint or several, expenses (including reasonable legal fees and expenses), judgments, fines and other amounts paid in settlement, incurred or suffered by any such
      person or entity arising out of or in connection with: (i) the breach of any representation or warranty made by DOTCOM hereunder, (ii) any other breach of this Agreement by DOTCOM, or (iii) any negligent act or omission by DOTCOM or its employees or
      agents in connection with the performance by DOTCOM or its employees or agents of the Services.

   

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  Indemnification by MILK MAKEUP. Subject to the limitations
    specified in this Article VIII, MILK MAKEUP shall indemnify, hold harmless and defend DOTCOM and each person or entity that is a stockholder, officer, director, partner, employee, affiliate or agent of DOTCOM from and against any and all losses,
    claims, damages, liabilities, whether joint or several, expenses (including reasonable legal fees and expenses), judgments, fines and other amounts paid in settlement, incurred, or suffered by any such person arising out of or in connection with: (i)
    the breach of any representation or warranty made by MILK MAKEUP hereunder, (ii) any other breach of this Agreement by MILK MAKEUP, (iii) any negligent act or omission by MILK MAKEUP or its employees or agents in connection with the performance by MILK
    MAKEUP or its employees or agents of the obligations required of MILK MAKEUP hereunder, or (iv) any claim or action for personal injury, death, property damage or other causes of action: (A) involving a product liability claim arising from or relating
    to products for which the Services are provided to MILK MAKEUP hereunder, or (B) resulting from alleged defects in, or the inherently dangerous nature of, MILK MAKEUP’S products, UNLESS any such claim or action is related to any alterations to MILK
    MAKEUP’S products or packaging made by DOTCOM.

   

  Section 8.2    Notice and Defense Of
        Third-Party Claims. If a claim for indemnification hereunder arises from a claim or demand from a third party, the rights of the indemnified parties to be indemnified pursuant to this Agreement shall be governed by the following:

   

  The relevant indemnified party, as
      appropriate, shall promptly notify the indemnifying party and request the indemnifying party to defend the same. Failure to so notify the indemnifying party shall not relieve the indemnifying party of any liability that the indemnifying party might
      have, except to the extent that such failure prejudices the indemnifying party’s ability to defend such claim. The indemnifying party shall have the right to defend against such liability or assertion in which event the indemnifying party shall give
      written notice to the indemnified party of acceptance of the defense of such claim and the identity of counsel selected by the indemnifying party. Until such time as indemnifying party provides such written notice of acceptance of the defense of such
      claim, the indemnified party shall defend such claim, at the expense of the indemnifying party, subject to any right of the indemnifying party, to seek reimbursement for the costs of such defense in the event that it is determined that indemnifying
      party had no obligation to indemnify the indemnified party for such claim. The indemnifying party shall have exclusive right to control and conduct the defense and settlement of any such claims subject to consultation with the indemnified party. The
      indemnifying party shall not be liable for any settlement by the indemnified party unless such indemnifying party has approved such settlement in advance and agrees to be bound by the agreement incorporating such settlement. At any time, an
      indemnified party shall have the right to refuse a compromise or settlement and, at such refusing party’s cost, to take over such defense; provided that in such event the indemnifying party shall not be responsible for, nor shall it be obligated to
      indemnify the relevant indemnified party against, any cost or liability in excess of such refused compromise or settlement. With respect to any defense accepted by the indemnifying party, the relevant indemnified party shall be entitled to
      participate with the indemnifying party in such defense if the claim requests equitable relief or other relief that could affect the rights of the indemnified party and also shall be entitled to employ separate counsel for such defense at such
      indemnified party’s expense. If the indemnifying party does not accept the defense of any indemnified claim as provided above, the relevant indemnified party shall have the right to employ counsel for such defense at the expense of the indemnifying
      party. Each party agrees to cooperate and to cause its employees and agents to cooperate with the other party in the defense of any such claim and the relevant records of each party shall be available to the other party with respect to any such
      defense, subject to the restrictions and limitations set forth in this Article VIII.

   

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  Section 8.3    Insurance.

    

  Dotcom shall, at its sole cost and expense, maintain the
      following coverages during the Term:

   

  a)    commercial general liability insurance with a
      combined single limit of one million dollars ($1,000,000) per occurrence for bodily injury, including death and property damage naming MILK MAKEUP as an additional insured;

   

  b)    umbrella excess liability insurance with a combined
      single limit of ten million dollars ($10,000,000) per occurrence for bodily injury, including death, and property damage;

   

  c)    worker’s compensation, occupational disease,
      employer’s liability with limits of not less than five hundred thousand dollars ($500,000) per accident for bodily injury and five hundred thousand dollars ($500,000) per employee for bodily injury by disease, disability benefit and similar employee
      benefit insurance required under the laws of the States where DOTCOM will perform the Services provided for hereunder;

   

  d)    third party fidelity insurance with limits no less
      than five hundred thousand dollars ($500,000) per occurrence; and

   

  e)    warehouseman’s legal liability insurance with a per
      occurrence limit of one million dollars ($1,000,000).

   

  DOTCOM shall furnish MILK MAKEUP with certificates of
      insurance evidencing this coverage upon execution hereof and thereafter upon written request.

   

  During the Term, MILK MAKEUP shall purchase and maintain
      insurance against loss of damage by fire and such other risks and hazards (including burglary, theft, vandalism and sprinkler leakage within the facility) as are insurable under then available standard forms of “all risk” or special perils insurance
      policies. MILK MAKEUP agrees to maintain, with a financially sound insurance company having an A.M. Best rating of A or better, the following insurance coverage with DOTCOM to be named as an additional insured on a primary non-contributory basis:

   

  a)    general liability insurance with $1,000,000 Bodily
      Injury/Property Damage Combined; $1,000,000 Products/Completed Operations; $1,000,000 Contractual Liability; $1,000,000 Personal & Advertising Liability; $1,000,000 Fire Legal Liability; and

   

  b)    umbrella insurance with $1,000,000 Bodily Injury
      & Property Damage.

   

  c)    MILK MAKEUP shall maintain worker’s compensation
      insurance covering its employees that it causes to have access to DOTCOM’S facility.

   

  MILK MAKEUP shall furnish DOTCOM with certificates of
      insurance evidencing this coverage within thirty days of execution of this Agreement. MILK MAKEUP shall also furnish proof on the insurance certificate that Inventory is covered under MILK MAKEUP’S property/ocean marine policy within any DOTCOM
      facility within thirty days of execution.

   

  Section 8.4   Limitations

          on Liability.

   

  NOTWITHSTANDING ANY LANGUAGE TO THE
      CONTRARY CONTAINED HEREIN, NEITHER PARTY SHALL BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR ENHANCED DAMAGES, LOST PROFITS OR REVENUES OR DIMINUTION IN VALUE, ARISING OUT OF OR RELATING TO ANY BREACH
    OF THIS AGREEMENT, WHETHER OR NOT THE POSSIBILITY OF SUCH DAMAGES HAS BEEN DISCLOSED IN ADVANCE OR COULD HAVE BEEN REASONABLY FORESEEN , REGARDLESS OF THE LEGAL OR EQUITABLE THEORY (CONTRACT, TORT OR OTHERWISE) UPON WHICH THE CLAIM IS BASED, AND
    NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF ITS ESSENTIAL PURPOSE.

   

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  Section 8.5   Dispute
        Resolution.

   

  a)    If there is any controversy, dispute or claim
      arising out of or relating to interpretation or breach of this Agreement, the parties will endeavor to settle it promptly through executive level discussions.

   

  b)    If such a dispute cannot be resolved within thirty
      (30) days after the initiation of the above process, then the parties will initiate and participate in good faith mediation of the dispute within thirty (30) days thereafter, with the mediator to be selected jointly by the parties or, if the parties
      cannot agree upon a mediator, by a mediator to be selected jointly by two mediators selected by the parties. The expenses of such mediation shall be borne equally by the parties.

   

  c)    If the dispute is not resolved through mediation,
      then the parties shall be entitled to pursue their respective rights and remedies against the other party in a court of law. In connection therewith, any action, claim or proceeding brought by any party hereunder shall be commenced exclusively in the
      state or federal courts located in the State of New York, and the parties hereto each hereby irrevocably and unconditionally consent to the exclusive jurisdiction and venue of such courts in any action, claim or proceeding brought under this
      Agreement, and irrevocably waive the defense of an inconvenient forum. EACH PARTY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY SUCH PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT.

   

  d)    Nothing in the foregoing provisions shall prevent
      either party from immediately seeking injunctive or other equitable relief from any court of competent jurisdiction in situations where damages would not adequately compensate for an alleged breach of this Agreement, nor prevent DOTCOM from
      immediately exercising its warehouseman’s lien against the Inventory of MILK MAKEUP in accordance with applicable law.

   

  ARTICLE IX

  MARKETING MATERIALS

   

  Section 9.1 Publicity. Both parties agree
      to act as a general reference for the other in regard to the subject matter of this Agreement during the Term; provided the other party has performed its obligations under this Agreement to the satisfaction of such party. DOTCOM shall have the right
      to reproduce, display and otherwise use the logo and/or trade name of MILK MAKEUP, solely in connection with the advertisement or promotion of the Services, if and only if DOTCOM has been given, for each and every use, prior written consent from MILK
      MAKEUP. Both parties agree that such approval may be granted, denied, or rescinded by MILK MAKEUP for any or no reason.

   

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  ARTICLE X

  CONFIDENTIALITY

   

  Section 10.1 General. As used herein,
      “Confidential Information” means: (i) the terms and provisions of this Agreement and any Schedules and any related documents delivered concurrently or in accordance therewith, and (ii) all computer hardware, all software, all data (specifically
      including any inventory product cost information maintained by MILK MAKEUP), reports, analyses, compilations, studies, interpretations, forecasts, records, information and other materials (in whatever form maintained, whether documentary, computer
      storage or otherwise) that contain or otherwise reflect information concerning MILK MAKEUP, DOTCOM, any of their subsidiaries or affiliates, or any portion thereof, that one party (the “Disclosing Party”) or its Agents (as defined below) may provide
      to the other party (the “Receiving Party”) or its Agents in connection with this Agreement. As used herein, “Agents” means, collectively, the respective directors, members, managers, employees, control persons, attorneys or other advisors of MILK
      MAKEUP or DOTCOM.

   

  Section 10.2 Acknowledgment. The parties
      hereby agree that all Confidential Information shall be kept confidential and shall not, without the prior written consent of the Disclosing Party, be disclosed by the Receiving Party in any manner whatsoever, in whole or in part, other than to the
      Receiving Party’s Agents, and shall not be used, directly or indirectly, for any purpose other than in connection with this Agreement and not in any way inherently detrimental to the other party. Moreover, MILK MAKEUP and DOTCOM agree to reveal
      Confidential Information only to their Agents if and to the extent that such Agents, have a strict need to know such Confidential Information for the purpose of the Receiving Party satisfying its obligations under this Agreement and are informed of
      the confidential nature of the Confidential Information and agree to be bound by the terms and conditions of this Agreement. MILK MAKEUP agrees that no individuals or companies that under any reasonable circumstances could be considered a competitor
      of DOTCOM are allowed access to any DOTCOM facilities without the express written authorization of DOTCOM. MILK MAKEUP and DOTCOM shall each be responsible for any breach of this Agreement by their respective Agents (including Agents who, subsequent
      to the first date of disclosure of Confidential Information hereunder, become former Agents). Moreover, MILK MAKEUP and DOTCOM shall take all reasonably necessary measures to restrain their respective Agents (and former Agents) from unauthorized
      disclosure or use of the Confidential Information.

   

  Section 10.3 Exceptions. Notwithstanding
      anything in this Agreement to the contrary, Confidential Information shall not include any information which:

   

  a)    at the time of disclosure to the Receiving Party is
      generally available to and known by the public (other than as a result of any disclosure made directly or indirectly or other action or inaction by the Receiving Party or anyone to whom the Receiving Party or any of its Agents transmit or transmitted
      any Confidential Information);

   

  b)    becomes publicly available (other than as a result
      of a disclosure made directly or indirectly or other action or inaction by the Receiving Party or anyone to whom the Receiving Party or any of its Agents transmit or have transmitted any Confidential Information);

   

  c)    was available to the Receiving Party or its Agents
      on a non-confidential basis from a source other than the Disclosing Party or any of its subsidiaries or affiliates or any of their respective Agents providing such information (provided that to the best of the Receiving Party’s knowledge, after due
      inquiry, such source is not or was not bound to maintain the confidentiality of such information); or

   

  Proprietary & Confidential

   

  

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  d) has been independently acquired or developed by the Receiving Party
      without reference to the Disclosing Party’s Confidential Information and without violating any of its obligations under this Agreement, provided such independent development can reasonably be proven by the Receiving Party upon written request.

   

  Section 10.4 Legal Compulsion. In the event
      that the Receiving Party or any of such party’s Agents become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar process) to disclose any of the Confidential Information of the
      Disclosing Party, the Receiving Party or person under the legal compulsion (the “Compelled Party”) from whom such information is being sought shall, unless prohibited by law, provide the Disclosing Party with prompt prior written notice of such
      requirement so that it may seek a protective order or other appropriate remedy, or both, or waive compliance with the terms of this Agreement. In the event that such protective order or other remedy is not obtained, or the Disclosing Party waives
      compliance with the provisions hereof, the Compelled Party agrees to furnish only such portion of the Confidential Information that the Compelled Party is advised by opinion of its counsel is legally required to be furnished by it and shall exercise
      its reasonable best efforts to obtain reliable assurance that confidential treatment shall be accorded such Confidential Information.

   

  Section 10.5 Use of Confidential Information.
      Each party shall be subject to the obligations under this Article X for three (3) years following the expiration or earlier termination of this Agreement. Other than as specifically provided in this Agreement, neither party shall duplicate the
      Disclosing Party’s Confidential Information for any purpose other than for the performance of its obligations under this Agreement and for the benefit of the Disclosing Party, or use the Disclosing Party’s Confidential Information for any reason or
      purpose other than as expressly permitted in this Agreement.

   

  Section 10.6 Return of Confidential Information.

   

  (a) Upon the expiration or earlier termination of this
      Agreement or if either party so requests, the other party shall return or destroy all hard copies of the Confidential Information in its possession and the possession of its Agents and will destroy all copies of any information or materials derived
      therefrom; provided, however, that this Agreement will continue to apply to the Confidential Information and/or any information or materials derived there from contained or reflected in such copies.

   

  (b) The Parties agree that MILK MAKEUP and DOTCOM would be
      irreparably injured by a breach of the obligations set forth in this Article X by the other party or its Agents and that the other party shall be entitled to seek equitable relief, including injunctive relief and specific performance, in the event of
      any breach of the provisions of this Article X. Such remedies shall not be deemed to be the exclusive remedies for a breach of this Article X by either party or its Agents, but shall be in addition to all other remedies available at law or in equity.

   

  ARTICLE XI

  MISCELLANEOUS PROVISIONS

   

  Section 11.1   Property Belonging to MILK
        MAKEUP. All goods of MILK MAKEUP in possession of DOTCOM shall be and will remain the exclusive property of MILK MAKEUP, and DOTCOM acknowledges and agrees that it shall acquire no right, title or interest in or to any goods by reason of this
      Agreement or the storage of such goods. Notwithstanding the foregoing, and without limitation of DOTCOM’s rights under Article 7 of the Uniform Commercial Code and otherwise under applicable law, DOTCOM shall have an enforceable warehouseman’s lien
      against any and all MILK MAKEUP Inventory in DOTCOM’s warehouse(s) to secure payment of any and all outstanding obligations of MILK MAKEUP to DOTCOM for the Services provided by DOTCOM pursuant to this Agreement.

   

  Proprietary & Confidential

   

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  Section 11.2 Notices. All notices, demands,
      requests, approvals, consents or other communications to be given or delivered under this Agreement (collectively, “Notices”) will be in writing and will be deemed to have been given: (i) when delivered in person or by courier or facsimile (with
      confirmation of the transmission received by the sender); or (ii) one business day after being delivered to a nationally recognized overnight courier (with next day delivery specified) or three business days after sending by certified or registered
      U.S. mail, return receipt requested, with first class postage prepaid, to the addresses indicated below. Notices sent by e-mail or any other electronic means not expressly permitted hereunder shall not be effective for any purposes of this Agreement.

   

  	If to DOTCOM:	If to MILK MAKEUP:
	 	 
	
          .com Distribution Corp.

          300 Nixon Lane

          Edison, New Jersey 08837

          Attn: Doug Sternberg

          Executive Vice President

          Facsimile: (732) 287-5990 

        	
          MILK MAKEUP INC.

          450 W. 15th Street, Suite 200

          New York, New York 10011

          Attn: Will Arcuri 

              Financial Controller

          Email: will@milkmakeup.com

        

   

  or to such other addresses as a party may designate
      from time to time by written notice to the other party.

   

  Section 11.3 Severability. Whenever possible, each
      provision of this Agreement and any Schedule shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement or any Schedule is held to be prohibited by or invalid under applicable law,
      such provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement or any Schedule.

   

  Section 11.4 Amendment and Waiver. This Agreement and any
      Schedule may be amended, and any provision of this Agreement and any Schedule may be waived; provided that any such amendment or waiver will be binding upon any party hereto only if such amendment or waiver is set forth in writing executed by both
      parties, in the case of an amendment, or by the party waiving a provision, in the case of a waiver. No course of dealing between or among any persons having any interest in this Agreement and any Schedule will be deemed effective to modify or amend
      any part of this Agreement and any Schedule or any rights or obligations of any person under or by reason of this Agreement or any Schedule. The waiver of any default, or the remedying of any default in any manner, shall not operate as a waiver of
      any other prior or subsequent default. No extension of time for the performance of any obligation or act shall be deemed to be an extension of time for the performance of any other obligation or act hereunder. No delay or omission by a party to
      exercise rights hereunder shall impair any such rights or shall be construed to be a waiver of any such default or any acquiescence therein.

   

  Section 11.5 Entire Agreement. This
      Agreement, all Schedules and exhibits hereto and any related documents delivered concurrently herewith, contain the entire agreement between the parties relating to the subject matter hereof and supersede any prior understandings, agreements or
      representations by or between the parties, written or oral, which may be related to the subject matter hereof in any way.

   

  Section 11.6 Headings. Section
      headings contained in this Agreement and any Schedule are inserted for convenience of reference only, shall not be deemed to be a part of this Agreement or any Schedule, respectively, for any purpose, and shall not in any way define or affect
    the meaning, construction or scope of any of the provisions hereof.

   

  Proprietary & Confidential

   

  

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  Section 11.7 Governing Law. This Agreement and any
      Schedule shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of laws thereof that may require the application of the laws of another jurisdiction.

   

  Section 11.8 Disclaimer. NEITHER PARTY HAS MADE ANY
      REPRESENTATIONS OR WARRANTIES TO THE OTHER PARTY EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, AND EACH PARTY ACKNOWLEDGES THAT IT HAS NOT RELIED UPON ANY REPRESENTATION OR WARRANTY EXCEPT AS EXPRESSLY PROVIDED HEREIN.

   

  Section 11.9 Assignment. Neither this Agreement, any
      Schedule nor any of the rights, interest or obligations set forth in each may be assigned by any party hereto without the prior written consent of the other party hereto. Notwithstanding the foregoing, DOTCOM shall have the right to assign this
      Agreement to a company that acquires all or substantially all of the assets of such party. Any unauthorized assignment shall be void. Subject to the foregoing, this Agreement and any Schedules and all of the provisions hereof and thereof will be
      binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

   

  Section 11.10                Interpretation. Each party
      acknowledges it has participated in the negotiation and preparation of this Agreement, and has reviewed this Agreement and had the opportunity to consult with its counsel with respect to its terms. Therefore, each party agrees that the rule of
      construction to the effect that any ambiguities in a document shall be interpreted against the drafting party will not be utilized in the interpretation, construction, or enforcement of this Agreement, and no consideration shall be given to the issue
      of which party hereto actually prepared, drafted or requested any term or condition of this Agreement or any Schedule or other instrument subject hereto.

   

  Section 11.11                 Force Majeure. Neither
      party shall be liable for any failure of or delay in the performance of this Agreement or any Schedule for the period that such failure or delay is due to acts of God, public enemy, war, or any other cause beyond the parties’ reasonable control (each
      a “Force Majeure”), it being understood that lack of financial resources shall not to be deemed a cause beyond a party’s control. Each party shall notify the other party promptly of the occurrence of any Force Majeure and carry out this Agreement and
      any Schedule as promptly as practicable after such Force Majeure is terminated. The existence of any Force Majeure shall not extend the term of this Agreement or any Schedule.

   

  Section 11.12                Counterparts; Delivery. This
      Agreement may be signed in any number of counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party.
      Delivery by facsimile or e-mail shall be as effective as physical delivery of an originally executed copy hereof.

   

  Section 11.13                Intellectual Property.
      DOTCOM acknowledges that MILK MAKEUP retains title to any and all service marks, trademarks, copyrights or any other intellectual property (“Intellectual Property”) associated with any MILK MAKEUP products that are subject to this Agreement and used
      by or owned by MILK MAKEUP, whether or not registered. DOTCOM will not do anything during or after the Term of this Agreement to challenge or adversely affect the distinctiveness, registration, goodwill, or value of the MILK MAKEUP Intellectual
      Property or rights therein. The parties agree that MILK MAKEUP would be irreparably injured by a breach of the obligations set forth in this Section by the other party or its Agents and that MILK MAKEUP shall be entitled to seek equitable relief,
      including injunctive relief and specific performance, in the event of any breach of the provisions of this Section. Such remedies shall not be deemed to be the exclusive remedies for a breach of this Section by MILK MAKEUP or its Agents, but shall be
      in addition to all other remedies available at law or in equity.

   

  Proprietary & Confidential

   

  

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  Section 11.14                Non-Solicitation. DOTCOM and
      MILK MAKEUP agree that both parties have expended great amounts of time, energy and money in training their officers and employees. DOTCOM and MILK MAKEUP therefore agree not to solicit, hire, or employ, either directly or indirectly, each other’s
      officers or employees during the Term of this Agreement, and for a period of two (2) years following the termination or expiration of this Agreement.

   

  Section 11.15                Orders. The terms of this
      Agreement prevail over any terms or conditions contained in any other documentation and expressly exclude any of MILK MAKEUP’S general terms and conditions contained in any purchase order or other document issued by MILK MAKEUP. In the event of any
      conflict between the terms of this Agreement and the terms of any purchase order or any other document issued by MILK MAKEUP, the terms of this Agreement prevail.

   

  Section 11.16                Third

          Party Beneficiaries. This Agreement benefits solely the parties to this Agreement and their respective successors and permitted assigns and nothing in this Agreement, express or implied, confers on any other person any legal or
      equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

   

  Electronic
        Signature and Electronic Original Contract. This Agreement and any attachments, exhibits, amendments, appendices or addendums hereto, may be signed in counterparts
      and/or duplicate originals, each of which, when delivered by all parties, shall be deemed to be an original, and all of which shall be taken to be one and the same instrument. DOTCOM and MILK MAKEUP agree that the exchange of copies of this Agreement
      (including any attachments, exhibits, amendments, appendices or addendums executed hereto) and of signature pages by electronic mail in “portable document format” (“.pdf’) form, or by any other electronic means intended to preserve the original
      document, shall constitute effective execution and delivery of this Agreement as to each party and may be used in lieu of the original Agreement for all purposes. Customer and Contractor both expressly agree that a PDF or other electronically scanned
      or preserved copy of the Agreement shall be admissible to the same extent as the original, and Customer and Contractor each hereby waive any requirement that an ink-on- paper original of the Agreement be produced. This paragraph is specifically
      intended to permit each party to maintain this Agreement in electronic form and thus obviate the need for either party to keep or maintain a “hard-copy” ink-on-paper original of the Agreement.

   

  IN WITNESS WHEREOF, the parties hereto executed this Agreement effective as
      of the date as follows:

   

  	.COM DISTRIBUTION CORP.	 	[MILK MAKEUP]
	 	 	 	 	 
	By:	/s/ Maria Haggerty	 	By:	/s/ Dianna Ruth
	 	Name:	Maria Haggerty	 	Name: 	Dianna Ruth
	 	 	 	 	 	 
	 	
          Title:

        	
          CEO

        	 	Title:	COO
	 	 	 	 	 	 
	 	Date:	4/17/17

        	 	Date:	7/13/17

   

  Proprietary & Confidential

   

  

  Page | 14EX-10.3(C)

 Exhibit 10.3(c) 

EARGO, INC. 
 2020
INCENTIVE AWARD PLAN 
 RESTRICTED STOCK UNIT AWARD GRANT NOTICE 

Eargo, Inc., a Delaware corporation (the “Company”), pursuant to its 2020 Incentive Award Plan, as amended from time
to time (the “Plan”), hereby grants to the holder listed below (the “Participant”), an award of restricted stock units (“Restricted Stock Units” or
“RSUs”). Each vested Restricted Stock Unit represents the right to receive, in accordance with the Restricted Stock Unit Award Agreement attached hereto as Exhibit A (the “Agreement”),
the Fair Market Value of one share of Common Stock (“Share”), provided, that to the extent the RSUs are settled in cash, the maximum cash payment per RSU shall be the Maximum Cash per RSU set forth below. This award of
Restricted Stock Units is subject to all of the terms and conditions set forth herein and in the Agreement and the Plan, each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have
the same defined meanings in this Restricted Stock Unit Award Grant Notice (the “Grant Notice”) and the Agreement. 
  

			
	Participant:	  	[__________________________]
		
	Grant Date:	  	[__________________________]
		
	Total Number of RSUs:	  	[_____________]
		
	Vesting Commencement Date:    	  	[_____________]
		
	Maximum Cash per RSU:	  	$8.00
		
	Vesting Schedule:	  	[_____________]
		
	Termination:	  	If the Participant experiences a Termination of Service, all RSUs that have not become vested on or prior to the date of such Termination of Service will thereupon be automatically forfeited by the Participant without payment of any
consideration therefor.

 By the Participant’s signature below, the Participant agrees to be bound by the terms and conditions of
the Plan, the Agreement and this Grant Notice. The Participant has reviewed the Plan, the Agreement and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully
understands all provisions of the Plan, the Agreement and this Grant Notice. The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan,
the Agreement or this Grant Notice. In addition, by signing below, the Participant also agrees that the Company, in its sole discretion, may satisfy any withholding obligations in accordance with Section 2.6(b) of the Agreement by
(i) withholding cash otherwise payable or Shares otherwise issuable to the Participant upon vesting of the RSUs, (ii) in the event of settlement in Shares, instructing a broker on the Participant’s behalf to sell Shares otherwise
issuable to the Participant upon vesting of the RSUs and submit the proceeds of such sale to the Company, or (iii) using any other method permitted by Section 2.6(b) of the Agreement or the Plan. 

			
	EARGO, INC.: 	  	PARTICIPANT:
		
	By:                                     
                            	  	By:                                     
                             
	Print Name:                                   
                	  	Print Name:                                   
                 
	Title:                                     
                          	  	
	Address:                                     
                   	  	Address:                                     
                     

 EXHIBIT A 

TO RESTRICTED STOCK UNIT AWARD GRANT NOTICE 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

Pursuant to the Restricted Stock Unit Award Grant Notice (the “Grant Notice”) to which this Restricted Stock Unit
Award Agreement (this “Agreement”) is attached, Eargo, Inc., a Delaware corporation (the “Company”), has granted to the Participant the number of restricted stock units (“Restricted Stock
Units” or “RSUs”) set forth in the Grant Notice under the Company’s 2020 Incentive Award Plan, as amended from time to time (the “Plan”). Each Restricted Stock
Unit represents the right to receive the Fair Market Value of one share of Common Stock (a “Share”) upon vesting. 

ARTICLE I. 
 GENERAL

 1.1 Defined Terms. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the
Grant Notice. 
 1.2 Incorporation of Terms of Plan. The RSUs are subject to the terms and conditions of the Plan, which are
incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control. 

ARTICLE II. 
 GRANT OF
RESTRICTED STOCK UNITS 
 2.1 Grant of RSUs. Pursuant to the Grant Notice and upon the terms and conditions set forth in the Plan
and this Agreement, effective as of the Grant Date set forth in the Grant Notice, the Company hereby grants to the Participant an award of RSUs under the Plan in consideration of the Participant’s past or continued employment with or service to
the Company or any Subsidiaries and for other good and valuable consideration. 
 2.2 Unsecured Obligation to RSUs. Unless and until
the RSUs have vested in the manner set forth in Article 2 hereof, the Participant will have no right to receive a payment in cash or the Common Stock under any such RSUs. Prior to actual payment of any vested RSUs, such RSUs will represent an
unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. 
 2.3 Vesting Schedule.
Subject to Section 2.5 hereof, the RSUs shall vest and become nonforfeitable with respect to the applicable portion thereof according to the vesting schedule set forth in the Grant Notice (rounding down to the nearest whole RSU). 

2.4 Consideration to the Company. In consideration of the grant of the award of RSUs pursuant hereto, the Participant agrees to render
faithful and efficient services to the Company or any Subsidiary. 
 2.5 Forfeiture, Termination and Cancellation upon Termination of
Service. Notwithstanding any contrary provision of this Agreement or the Plan, upon the Participant’s Termination of Service for any or no reason, all Restricted Stock Units which have not vested prior to or in connection with such
Termination of Service shall thereupon automatically be forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and the Participant, or the Participant’s beneficiary or
personal representative, as the case may be, shall have no further rights hereunder. No portion of the RSUs which has not become vested as of the date on which the Participant incurs a Termination of Service shall thereafter become vested, except as
may otherwise be provided by the Administrator or as set forth in a written agreement between the Company and the Participant. 

  
 A-1 

 2.6 Payment upon Vesting. 

(a) As soon as administratively practicable following the vesting of any Restricted Stock Units pursuant to Section 2.3 hereof, but in no
event later than 30 days after such vesting date (for the avoidance of doubt, this deadline is intended to comply with the “short term deferral” exemption from Section 409A of the Code), the Company shall either (i) pay to the
Participant (or any transferee permitted under Section 3.2 hereof) an amount in cash equal to the Fair Market Value of a number of Shares equal to the number of RSUs subject to this Award that vest on the applicable vesting date, rounded down
to the nearest cent, provided, that the maximum amount of such payment per RSU shall be the Maximum Cash per RSU set forth in the Grant Notice or (ii) deliver to the Participant (or any transferee permitted under Section 3.2 hereof) a
number of Shares equal to the number of RSUs subject to this Award that vest on the applicable vesting date. Unless otherwise determined by the Administrator, the RSUs shall be settled in Shares pursuant to Section 2.6(a)(ii) above in the event
the Shares are registered on an effective Form S-8 on the date of settlement and shall otherwise be settled in cash. 

(b) As set forth in Section 10.5 of the Plan, the Company shall have the authority and the right to deduct or withhold, or to require the
Participant to remit to the Company, an amount sufficient to satisfy all applicable federal, state and local taxes required by law to be withheld with respect to any taxable event arising in connection with the Restricted Stock Units. The Company
shall not be obligated to pay any cash or deliver any Shares to the Participant or the Participant’s legal representative unless and until the Participant or the Participant’s legal representative shall have paid or otherwise satisfied in
full the amount of all federal, state and local taxes applicable to the taxable income of the Participant resulting from the grant or vesting of the Restricted Stock Units, the payment of cash or the issuance of Shares. 

2.7 Conditions to Delivery of Shares. In the event of a settlement in Shares, the Shares delivered hereunder may be either previously
authorized but unissued Shares, treasury Shares or issued Shares which have then been reacquired by the Company. Such Shares shall be fully paid and nonassessable. The Company shall not be required to issue Shares prior to fulfillment of the
conditions set forth in Section 10.7 of the Plan. 
 2.8 Rights as Stockholder. The holder of the RSUs shall not be, nor have
any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of the RSUs and any Shares underlying the RSUs and deliverable hereunder unless and until such Shares
shall have been issued by the Company and held of record by such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for a dividend or other
right for which the record date is prior to the date the Shares are issued, except as provided in Article IX of the Plan. 
 ARTICLE III.

 OTHER PROVISIONS 

3.1 Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be
final and binding upon the Participant, the Company and all other interested persons. No member of the Administrator or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan,
this Agreement or the RSUs. 

  
 A-2 

 3.2 Transferability. The RSUs shall be subject to the restrictions on transferability
set forth in Section 10.1 of the Plan. 
 3.3 Tax Consultation. The Participant understands that the Participant may suffer
adverse tax consequences in connection with the RSUs granted pursuant to this Agreement (and the cash payable or Shares issuable with respect thereto). The Participant represents that the Participant has consulted with any tax consultants the
Participant deems advisable in connection with the RSUs, the cash payable in respect thereof and the issuance of Shares with respect thereto and that the Participant is not relying on the Company for any tax advice. 

3.4 Binding Agreement. Subject to the limitation on the transferability of the RSUs contained herein, this Agreement will be binding
upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 
 3.5
Adjustments Upon Specified Events. The Administrator may accelerate the vesting of the RSUs in such circumstances as it, in its sole discretion, may determine. The Participant acknowledges that the RSUs are subject to adjustment, modification
and termination in certain events as provided in this Agreement and Article IX of the Plan. 
 3.6 Notices. Any notice to be given
under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company’s principal office, and any notice to be given to the Participant shall be addressed to the Participant at
the Participant’s last address reflected on the Company’s records. By a notice given pursuant to this Section 3.6, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be
deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service. 

3.7 Participant’s Representations. If any Shares issuable hereunder have not been registered under the Securities Act or any
applicable state laws on an effective registration statement at the time of such issuance, the Participant shall, if required by the Company, concurrently with such issuance, make such written representations as are deemed necessary or appropriate
by the Company or its counsel. 
 3.8 Titles. Titles are provided herein for convenience only and are not to serve as a basis for
interpretation or construction of this Agreement. 
 3.9 Governing Law. The laws of the State of Delaware shall govern the
interpretation, validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. 

3.10 Conformity to Securities Laws. The Participant acknowledges that the Plan and this Agreement are intended to conform to the extent
necessary with all provisions of the Securities Act and the Exchange Act and any other Applicable Law. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the RSUs are granted, only in such a manner as to conform to
Applicable Law. To the extent permitted by Applicable Law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such Applicable Law. 

  
 A-3 

 3.11 Amendment, Suspension and Termination. To the extent permitted by the Plan, this
Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator or the Board; provided, however, that, except as may otherwise be provided by the Plan, no
amendment, modification, suspension or termination of this Agreement shall adversely affect the RSUs in any material way without the prior written consent of the Participant. 

3.12 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this
Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth in Section 3.2 hereof, this Agreement shall be binding upon the Participant and his or her heirs,
executors, administrators, successors and assigns. 
 3.13 Limitations Applicable to Section 16 Persons.
Notwithstanding any other provision of the Plan or this Agreement, if the Participant is subject to Section 16 of the Exchange Act, then the Plan, the RSUs and this Agreement shall be subject to any additional limitations set forth in any
applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent
permitted by Applicable Law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 

3.14 Not a Contract of Service Relationship. Nothing in this Agreement or in the Plan shall confer upon Participant any right to
continue to serve as an employee or other service provider of the Company or any of its Subsidiaries or interfere with or restrict in any way with the right of the Company or any of its Subsidiaries, which rights are hereby expressly reserved, to
discharge or to terminate for any reason whatsoever, with or without cause, the services of the Participant at any time. 
 3.15 Entire
Agreement. The Plan, the Grant Notice and this Agreement (including all Exhibits thereto, if any) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and the
Participant with respect to the subject matter hereof, provided that the RSUs shall be subject to any accelerated vesting provisions in any written agreement between the Participant and the Company or a Company plan pursuant to which the Participant
participates, in each case, in accordance with the terms therein. 
 3.16 Section 409A. This Award is not intended
to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code (together with any 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 date hereof, “Section 409A”). However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement,
if at any time the Administrator determines that this Award (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or
any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other
actions, as the Administrator determines are necessary or appropriate for this Award either to be exempt from the application of Section 409A or to comply with the requirements of Section 409A. 

3.17 Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided.
This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant
shall have only the rights of a general unsecured creditor of the Company and its Subsidiaries with respect to amounts credited and benefits payable, if any, with respect to the RSUs, and rights no greater than the right to receive the Common Stock
as a general unsecured creditor with respect to RSUs, as and when payable hereunder. 

*    *    *    *    * 

  
 A-4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}]]