Document:

EX-10.15

 Exhibit 10.15 

EXECUTION VERSION 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of as of September 20, 2018, and effective as
of September 24, 2018 (the “Effective Date”), by and between Excelerate US, Inc., a Delaware corporation (the “Company”), and Shih-Fong Wang (“Executive”). Certain terms used but not otherwise
defined herein shall have the meaning set forth in Section 9. 
 In consideration of the mutual covenants
contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Employment; Employment Period. Effective as of the Effective Date, the Company shall employ Executive, and Executive hereby accepts
employment with the Company, upon the terms and conditions set forth in this Agreement for the period beginning on the Effective Date and ending on the fifth anniversary of the Effective Date (the “Employment Period”), except that
the Employment Period shall automatically renew on the same terms and conditions set forth herein as modified from time to time by the parties hereto for additional one-year periods beginning on the fifth (5th) anniversary of the Effective Date and on each successive anniversary date, unless the Company gives Executive written notice of its election not to extend the Employment Period at least one hundred
eighty (180) days prior to any such renewal date, and the Employment Period may be earlier terminated as provided in Section 4. Except as expressly set forth (and subject to the conditions) in
Section 4(b), no severance or other compensation shall be payable for periods after the Employment Period (including any renewal periods) expires because it has not been renewed or is terminated in accordance with
the terms of this Agreement. 
 2. Position and Duties. 

(a) Position; Responsibilities. During the Employment Period, Executive shall serve as the Chief Financial Officer of the Company and
shall have the normal duties, responsibilities, functions and authority typically accorded to such position, subject to the power and authority of the board of directors (the “Board”) of Excelerate, L.P.
(“Holdings”) and the Chief Executive Officer of Holdings (the “CEO”) to expand or limit such duties, responsibilities, functions and authority within the scope of duties, responsibilities, functions and authority
associated with the position of Chief Financial Officer and to overrule actions of officers of the Company. During the Employment Period, Executive shall render such administrative, financial and other executive and managerial services to Holdings
and its Subsidiaries as the Board or the CEO may from time to time direct. 
 (b) Reporting; Performance of Duties. Executive shall
report to the Board and the CEO, and Executive shall devote Executive’s best efforts and substantially all of Executive’s full business time and attention (except for permitted vacation periods and reasonable periods of illness or other
incapacity) to the business and affairs of Holdings and its Subsidiaries. Executive shall perform Executive’s duties, responsibilities and functions to and for the benefit of Holdings, the Company and their respective Subsidiaries hereunder to
the best of Executive’s abilities in a diligent, trustworthy, professional and efficient manner and shall comply with Holdings’, the Company’s and their respective Subsidiaries’ policies and procedures in all material respects.
In 

 
performing Executive’s duties and exercising Executive’s authority under this Agreement, Executive shall support and implement the business and strategic plans approved from time to
time by the Board and shall support and cooperate with Holdings’, the Company’s and their respective Subsidiaries’ efforts to expand their businesses and operate profitably and in conformity with the business and strategic plans
approved by the Board. So long as Executive is employed by the Company, Executive shall not, without the prior written consent or approval of the Board, (i) perform other services for compensation or (ii) cause Holdings, the Company or any
of their Subsidiaries to enter into any Affiliate Transaction without prior approval of the Board. Notwithstanding the foregoing, Executive may serve as a director or trustee of any nonprofit entity or civic organization so long as such service does
not interfere with the fulfillment of Executive’s obligations hereunder. 
 3. Compensation and Benefits. 

(a) Base Salary. During the Employment Period, Executive’s base salary shall be Two Hundred Fifty Thousand Dollars ($250,000.00)
per annum and shall be subject to review and increase by the Board on an annual basis commencing on January 1, 2020 (as adjusted from time to time, the “Base Salary”), which Base Salary shall be payable by the Company in
regular installments in accordance with the Company’s general payroll practices (as in effect from time to time). Executive’s Base Salary for any partial year will be based upon the actual number of days elapsed in such year. 

(b) Business Expenses. During the Employment Period, the Company shall reimburse Executive for all reasonable out-of-pocket business expenses incurred by Executive in the course of performing Executive’s duties and responsibilities under this Agreement which are consistent with
the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. 

(c) Bonus. During the Employment Period, in addition to the Base Salary, Executive will be eligible to earn a target annual bonus for
each calendar year (beginning with the calendar year ending December 31, 2019) of up to forty percent (40%) of Executive’s Base Salary (the “Target Bonus”), provided minimum established criteria are met (and no bonus if
they are not), based upon Executive’s performance and Holdings’ and its Subsidiaries’ achievement of financial, operational and performance targets and other objectives to be established on an annual basis, all established and
determined by the Board or the compensation committee of the Board (if there is one) (the “Compensation Committee”) in its sole discretion. Any such bonus amount for any calendar year shall be earned (if awarded) on January 1st of the calendar year immediately following the given calendar year, subject to Executive’s continued employment with the Company through such date, and paid by the Company no later than the
earlier of (x) the date that is thirty (30) days after the Company’s receipt of its audited financial statements for the calendar year with respect to which such bonus has been earned and (y) December 31st of the calendar year following the calendar year with respect to which such bonus has been earned. 

  
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 (d) One-Time Bonus. Executive shall be
eligible to earn a one-time bonus in the amount of Twenty-Five Thousand Dollars ($25,000), subject to the successful completion and delivery of the Company’s audited financial statements for the calendar
year ending December 31, 2018, with which process Executive is expected to be actively involved. Any such one-time bonus will be payable in the 2019 calendar year, promptly following completion of the
audit (expected on or before June 30, 2019), subject to Executive’s continued employment with the Company through the payment date. 

(e) Equity Compensation. Holdings and Executive will enter into the Incentive Equity Agreement substantially simultaneously with the
Effective Date, pursuant to which Executive will be issued Incentive Units (as defined in the Incentive Equity Agreement) in accordance with the terms and subject to the conditions set forth in the Incentive Equity Agreement. 

(f) Benefits. In addition to (but without duplication of) the Base Salary and any bonuses payable to Executive pursuant to this
Section 3, Executive shall be entitled to participate in all of the Company’s employee benefit programs for which senior executive employees of the Company are generally eligible and to the following benefits, in each
case, during the Employment Period: 
 (i) health insurance, disability insurance, life insurance, accident insurance and
group excess liability insurance coverage that is offered by the Company (assuming Executive and/or Executive’s family meet the eligibility requirements of such benefit plans); and 

(ii) retirement benefit contributions, including 401(k) contributions, supplemental retirement plan and/or other customary
forms of such benefits that are offered by the Company; and 
 (iii) twenty (20) days of paid time off per year (plus
applicable holidays) to be taken in accordance with the Company’s then current policy; Executive may carry over unused paid time off from year to year, provided that Executive’s accrued but unused paid time off may not exceed twenty
(20) days at any time. 
 4. Termination. 

(a) Termination. The Employment Period shall terminate automatically and immediately upon Executive’s resignation for any reason,
death or Disability or upon the termination of Executive’s employment by the Company (through action by the Board with consultation of the CEO) for any reason (whether for Cause (as defined below) or without Cause). The date on which Executive
ceases to be employed by the Company is referred to herein as the “Termination Date.” 
 (b) Termination by the Company
without Cause, by Executive for Good Reason, or due to the Company’s Non-Renewal. If the Employment Period is terminated by the Company without Cause, by Executive for Good Reason, or due to the
Company’s election not to renew the Employment Period, then Executive shall be entitled to receive: 
 (i)
Executive’s Base Salary through the Termination Date and payment of any accrued, but unused, paid time off (payable in accordance with Section 3(a)); 

  
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 (ii) any bonus amount under Section 3(c) earned
but not yet paid to Executive, determined by reference to the calendar year that ended on or prior to the Termination Date (payable at the same time it would have been paid pursuant to Section 3(c)); and 

(iii) an amount equal to twelve (12) months of Executive’s then current Base Salary (such twelve (12)-month period,
the “Severance Period”), as a special severance payment, payable pro rata over the Severance Period in regular installments in accordance with the Company’s general payroll practices as in effect on the Termination Date, but in
no event less frequently than monthly. 
 Notwithstanding the foregoing, Executive shall not be entitled to receive any payments pursuant to Sections
4(b)(iii) (and Executive shall forfeit all rights to such payments) unless Executive has executed and delivered to the Company a general release substantially in form and substance as attached hereto as Exhibit A (the “General
Release”), and such General Release remains in full force and effect, has not been revoked and is no longer subject to revocation, within sixty (60) days of the date of termination, and Executive shall be entitled to receive such
payments only so long as Executive has not breached any of the provisions of the General Release or Sections 5, 6 and 7 hereof (a “Fundamental Breach”); provided that Executive will have ten (10) days after
receiving written notice from the Company of a Fundamental Breach in which to cure such Fundamental Breach (to the extent capable of cure, as determined by the Board in good faith). If the General Release is executed and delivered and no longer
subject to revocation as provided in the preceding sentence, then the following shall apply: 
 (A) To the extent any such
cash payment to be provided is not “deferred compensation” for purposes of Code Section 409A, then such payment shall commence upon the first scheduled payment date immediately after the date the General Release is executed and no
longer subject to revocation (the “Release Effective Date”). The first such cash payment shall include payment of all amounts that otherwise would have been due prior to the Release Effective Date under the terms of this Agreement
applied as though such payments commenced immediately upon Executive’s termination of employment, and any payments made after the Release Effective Date shall continue as provided herein. The delayed payments shall in any event expire at the
time such payments would have expired had such payments commenced immediately following Executive’s termination of employment. 

(B) To the extent any such cash payment to be provided is “deferred compensation” for purposes of Code
Section 409A, then such payment shall be made or commence upon the sixtieth (60th) day following Executive’s termination of employment. The first such cash payment shall include payment of all amounts that otherwise would have been due
prior thereto under the terms of this Agreement had such payments commenced immediately upon Executive’s termination of employment, and any payments made after the sixtieth (60th) day following Executive’s termination of employment shall
continue as provided herein. The delayed payments shall in any event expire at the time such payments would have expired had such payments commenced immediately following Executive’s termination of employment. 

  
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 Notwithstanding any other payment schedule provided herein to the contrary, if Executive is deemed on the
date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then any payment that is considered deferred compensation under Code Section 409A payable on account of a
“separation from service” shall be made on the date which is the earlier of (I) the expiration of the six (6)-month period measured from the date of such “separation from service” of Executive and (II) the date of
Executive’s death (the “Delay Period”) to the extent required under Code Section 409A. Upon the expiration of the Delay Period, all payments delayed pursuant to the immediately preceding sentence (whether they otherwise
would have been payable in a single sum or in installments in the absence of such delay) shall be paid to Executive in a lump sum, and all remaining payments due under this Agreement shall be paid or provided in accordance with the normal payment
dates specified for them herein. 
 For the avoidance of doubt and notwithstanding any implication herein to the contrary, no amounts shall be payable to
Executive, and Executive shall have no obligations, under this Agreement, including pursuant to this Section 4(b), if this Agreement is terminated by Executive prior to (including by failing to commence employment on) the
Effective Date. 
 (c) Other Termination. If the Employment Period is terminated (i) by the Company for Cause, (ii) by
Executive without Good Reason, (iii) due to Executive’s election not to renew the Employment Period, or (iv) due to Executive’s death or Disability, then Executive shall be entitled to receive only (A) Executive’s Base
Salary through the date of termination or expiration (payable in accordance with Section 3(a)) and (B) any bonus amount under Section 3(c) that Executive has earned but that has not yet been
paid to Executive, determined by reference to the calendar year that ended on or prior to the date of termination, payable at the same time it would have been paid pursuant to Section 3(c). 

(d) No Other Benefits. Except as otherwise expressly provided herein, Executive shall not be entitled to any other salary, bonuses,
employee benefits or compensation from Holdings, the Company or any of their respective Subsidiaries from and after the date of termination or expiration of the Employment Period and all of Executive’s rights to salary, bonuses, employee
benefits and other compensation hereunder which would have accrued or become payable from and after the date of such termination or expiration of the Employment Period (other than vested retirement benefits accrued on or prior to the termination or
expiration of the Employment Period, accrued life and disability insurance benefits or other amounts owing hereunder as of the date of such termination or expiration that have not yet been paid, and/or any accrued, but unused, time off) shall cease
upon such termination or expiration, other than those expressly required under applicable law (such as COBRA). 
 (e) No Mitigation.
Executive is under no obligation to mitigate damages or the amount of any payment provided for under this Section 4 by seeking other employment or otherwise; provided that, notwithstanding anything to the contrary
herein, Executive’s coverage under the Company’s health and dental benefit plans through COBRA will terminate when Executive becomes eligible under any employee benefit plan made available by another employer covering health and dental
benefits. Executive shall notify the Company promptly, and in any event within thirty (30) days after becoming eligible for any such benefits. 

  
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 (f) Right of Offset. The Company may offset any bona fide obligations that Executive
owes Holdings, the Company or any of their respective Subsidiaries or Affiliates (which for the avoidance of doubt shall not include any unliquidated obligations or obligations to the extent Executive reasonably disputes the nature or amount
thereof) against any amounts the Company or any of its Subsidiaries owe Executive hereunder; provided that, notwithstanding the foregoing or any other provision of this Agreement to the contrary, in no event shall any payment under this
Agreement that constitutes “deferred compensation” for purposes of Code Section 409A be subject to offset, counterclaim or recoupment by any other amount unless otherwise permitted by Code Section 409A. 

(g) Section 409A Compliance. 

(i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code
Section 409A and the regulations and guidance promulgated thereunder (collectively, “Code Section 409A”), and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in
compliance therewith. In no event whatsoever shall the Company or any of its respective Affiliates be liable for any additional tax, interest or penalty that may be imposed on Executive by Code Section 409A or damages for failing to comply with
Code Section 409A. 
 (ii) A termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and,
for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment,” “termination of the Employment Period” or like terms shall mean “separation from service.” 

(iii) All expenses or other reimbursements under this Agreement shall be made on or prior to the last day of the taxable year
following the taxable year in which such expenses were incurred by Executive (provided that if any such reimbursements constitute taxable income to Executive, such reimbursements shall be paid no later than March 15th of the calendar year following
the calendar year in which the expenses to be reimbursed were incurred), and no such reimbursement or expenses eligible for reimbursement in any taxable year shall in any way affect the expenses eligible for reimbursement in any other taxable year.

 (iv) For purposes of Code Section 409A, Executive’s right to receive any installment payment pursuant to this
Agreement shall be treated as a right to receive a series of separate and distinct payments. 
 (v) Whenever a payment under
this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”), the actual date of payment within the specified period
shall be within the sole discretion of the Company. 

  
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 5. Confidential Information. 

(a) Protection of Confidential Information. Executive acknowledges that the continued success of Holdings, the Company and their
respective Subsidiaries and Affiliates depends upon the use and protection of a large body of confidential and proprietary information. All of such confidential and proprietary information now existing or to be developed in the future will be
referred to in this Agreement as “Confidential Information.” Confidential Information will be interpreted as broadly as possible to include all information of any sort (whether merely remembered or embodied in a tangible or
intangible form, and whether or not specifically labeled or identified as “confidential”) that is (i) related to Holdings’, the Company’s or their respective Subsidiaries’ or Affiliates’ (including any of their
predecessors’ prior to being acquired by any of the foregoing) current or potential business and (ii) is not generally or publicly known. Confidential Information includes, without specific limitation, the information, observations and
data obtained by Executive during the course of Executive’s employment concerning the business and affairs of Holdings, the Company and their respective Subsidiaries and Affiliates, information concerning (A) acquisition opportunities in,
or reasonably related, to Holdings’, the Company’s or their respective Subsidiaries’ or Affiliates’ business or industry of which Executive becomes aware prior to or during the course of Executive’s employment with Holdings,
the Company and their respective Subsidiaries, (B) identities and requirements of, contractual arrangements with and other information regarding Holdings’, the Company’s or any of their respective Subsidiaries’ or
Affiliates’ employees (including personnel files and other information), suppliers, distributors, customers, independent contractors, third-party payors, providers or other business relations and their confidential information, including,
without limitation, billing information, credit card information, bank account information and other information concerning customers, (C) internal business information, including development, transition and transformation plans, methodologies
and methods of doing business, strategic, staffing, training, marketing, promotional, sales and expansion plans and practices, including plans regarding planned and potential sales, historical and projected financial information, budgets and
business plans, risk management practices, negotiation strategies and practices, opinion leader lists and databases, customer service approaches, integration processes, new and existing programs and services, cost, rate and pricing structures and
terms and requirements and costs of providing service, support and equipment, (D) trade secrets, technology, know-how, compilations of data and analyses, techniques, systems, formulae, research, records,
reports, manuals, flow charts, documentation, models, data and data bases, (E) computer software, including operating systems, applications and program listings, (F) devices, discoveries, concepts, ideas, inventions, innovations,
improvements, developments, methods, designs, analyses, drawings, photographs, reports and all similar or related information (whether or not patentable and whether or not reduced to practice), (G) copyrightable works, (H) intellectual property
of every kind and description and (I) all similar and related information in whatever form. Executive further acknowledges that the Confidential Information obtained or learned by Executive during the course of Executive’s employment
(including, for all purposes herein, prior to the Effective Date) from Holdings, the Company or any of their respective Subsidiaries or Affiliates concerning their business or affairs is their property. Therefore, Executive agrees that Executive
shall not disclose to any unauthorized Person or use for Executive’s own account any of such Confidential Information, whether or not developed by Executive, without the Board’s prior written consent, unless and to the extent that such
Confidential Information (I) becomes generally known to and available for use by the public other than as a result of Executive’s acts or omissions to act or (II) is required to be disclosed pursuant

  
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to any applicable law or court order. Executive shall take reasonable and appropriate steps to safeguard Confidential Information and to protect it against disclosure, misuse, espionage, loss and
theft. Executive agrees to deliver to the Company at the end of the Employment Period, or at any other time the Company may request in writing, all copies and embodiments, in whatever form, of memoranda, notes, plans, records, reports, studies and
other documents and data, relating to the business or affairs of Holdings, the Company or their respective Subsidiaries or Affiliates (including, without limitation, all Confidential Information and Work Product) that Executive may then possess or
have under Executive’s control. 
 (b) Use of Confidential Information. During the course of Executive’s employment with
Holdings, the Company and their respective Subsidiaries, Executive shall not use or disclose any confidential information or trade secrets, if any, of any former employers or any other Person to whom Executive has an obligation of confidentiality,
and shall not bring onto the premises of Holdings, the Company or their respective Subsidiaries or Affiliates any unpublished documents or any property belonging to any former employer or any other Person to whom Executive has an obligation of
confidentiality unless consented to in writing by the former employer or Person. Executive shall use in the performance of Executive’s duties only information that is (i) generally known and used by persons with training and experience
comparable to Executive’s and that is (A) common knowledge in the industry or (B) is otherwise legally in the public domain, (ii) otherwise provided or developed by Holdings, the Company or their respective Subsidiaries or
Affiliates or (iii) in the case of materials, property or information belonging to any former employer or other Person to whom Executive has an obligation of confidentiality, approved for such use in writing by such former employer or person.
If at any time during Executive’s employment, Executive believes Executive is being asked to engage in work that will, or will be likely to, jeopardize any confidentiality or other obligations Executive may have to former employers, then
Executive shall immediately advise the Board so that Executive’s duties can be modified appropriately. 
 (c) Past Employment.
Executive represents and warrants that Executive took nothing with Executive that belonged to any former employer when Executive left Executive’s prior position and that Executive has nothing that contains any information that belongs to any
former employer. If at any time Executive discovers this is incorrect, Executive shall promptly return any such materials to Executive’s former employer. The Company does not want any such materials, and Executive shall not be permitted to use
or refer to any such materials in the performance of Executive’s duties hereunder. 
 (d) Third-Party Information. Executive
understands that Holdings, the Company and their respective Subsidiaries and Affiliates will receive from third parties confidential or proprietary information (“Third-Party Information”) subject to a duty on Holdings’, the
Company’s and their respective Subsidiaries’ and Affiliates’ part to maintain the confidentiality of such information and to use it only for certain limited purposes. During the Employment Period and thereafter, and without in any way
limiting the provisions of Section 5(a) above, Executive will hold Third-Party Information in the strictest confidence and will not disclose to anyone (other than personnel of Holdings, the Company or their respective
Subsidiaries and Affiliates who need to know such information in connection with their work for Holdings, the Company or their respective Subsidiaries and Affiliates) or use, except in connection with Executive’s work for Holdings, the Company
or their respective Subsidiaries and Affiliates, Third-Party Information unless expressly authorized by a member of the Board in writing. 

  
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 (e) Whistleblower Protections. Nothing in this Agreement shall prohibit or restrict
Holdings, the Company or their respective Subsidiaries and Affiliates, Executive or their respective attorneys from: (i) making any disclosure of relevant and necessary information or documents in any action, investigation, or proceeding
relating to this Agreement, or as required by law or legal process, including with respect to possible violations of law; (ii) participating, cooperating, or testifying in any action, investigation, or proceeding with, or providing information
to, any governmental agency or legislative body, any self-regulatory organization, and/or pursuant to the Sarbanes-Oxley Act; or (iii) accepting any U.S. Securities and Exchange Commission awards. In addition, nothing in this Agreement
prohibits or restricts Holdings, the Company or their respective Subsidiaries and Affiliates or Executive from initiating communications with, or responding to any inquiry from, any regulatory or supervisory authority regarding any good faith
concerns about possible violations of law or regulation. 
 (f) Trade Secret Protections. Pursuant to 18 U.S.C. § 1833(b),
Executive will not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret of Holdings, the Company or their respective Subsidiaries and Affiliates that (i) is made (A) in
confidence to a Federal, State, or local government official, either directly or indirectly, or to Executive’s attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a
complaint or other document that is filed under seal in a lawsuit or other proceeding. If Executive files a lawsuit for retaliation by Holdings, the Company or their respective Subsidiaries and Affiliates for reporting a suspected violation of law,
Executive may disclose the trade secret to Executive’s attorney and use the trade secret information in the court proceeding, if Executive files any document containing the trade secret under seal and does not disclose the trade secret except
under court order. Nothing in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section. 

6. Ownership of Intellectual Property, Inventions and Patents. Executive acknowledges that all intellectual property, including all
discoveries, concepts, ideas, inventions, innovations, improvements, developments, methods, processes, programs, designs, analyses, drawings, reports, patent applications, copyrightable work and mask work (whether or not including any confidential
information) and all registrations or applications related thereto, all other proprietary information and all similar or related information (whether or not patentable) which relate to Holdings’, the Company’s or any of their respective
Subsidiaries’ actual or anticipated business, research and development or existing or future products or services and which are conceived, developed, contributed to, made or reduced to practice by Executive (whether alone or jointly with
others) while employed by the Company, whether before or after the date of this Agreement, including any of the foregoing that constitutes any proprietary information or records (“Work Product”), belong to Holdings, the Company or
such respective Subsidiary. Any copyrightable work prepared in whole or in part by Executive in the course of Executive’s work for any of the foregoing entities shall be deemed a “work made for hire” to the maximum extent permitted
under copyright laws, and Holdings, the Company or such respective Subsidiary shall own all rights therein. To the extent any such copyrightable work or the intellectual property rights in the Work Product is not a “work made for hire,”
Executive hereby 

  
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assigns (nunc pro tunc, effective as of the first date of Executive’s employment or engagement by Holdings, the Company or any of their respective Subsidiaries) and agrees to assign
to Holdings, the Company or such respective Subsidiary all right, title and interest, including, without limitation, copyright and all other intellectual property rights, in and to such copyrightable work and other Work Product. Executive shall
promptly disclose such Work Product to the Board and, at the Company’s expense, perform all actions reasonably requested by the Board (whether during or after the Employment Period) to establish and confirm such ownership by Holdings, the
Company or such respective Subsidiary (including, without limitation, assignments, consents, powers of attorney and other instruments). 

7. Restrictive Covenants. 

(a) Restricted Activities. In further consideration of the compensation to be paid to Executive hereunder, Executive acknowledges that,
during the course of Executive’s employment with Holdings, the Company and their respective Subsidiaries, Executive has and shall become familiar with Holdings’, the Company’s and their respective Subsidiaries’ and
Affiliates’ trade secrets and with other Confidential Information concerning Holdings, the Company and their respective Subsidiaries and Affiliates, and that Executive’s services have been and shall be of special, unique and extraordinary
value to Holdings, the Company and their respective Subsidiaries and Affiliates. Therefore, in further consideration of the compensation to be paid to Executive hereunder and without limiting any other obligations of Executive pursuant to this
Agreement, in order to protect the legitimate business interests and goodwill of Holdings, the Company and their respective Subsidiaries and Affiliates, Executive agrees that, during the course of Executive’s employment with Holdings, the
Company and their respective Subsidiaries, Executive shall not directly or indirectly acquire or hold, beneficially or otherwise, any economic, financial or other interest (whether an equity interest or otherwise) in, act as an equity holder or
employee, director/manager, independent contractor or representative of, manage, control, operate, consult with, render services in any capacity for, or otherwise participate in any Person (including any division, group or franchise of a larger
organization), other than Holdings, the Company and their respective Subsidiaries, which engages in, or engages in the management or operation of any Person that engages in, any business that competes with or otherwise engages in any aspect of the
Business in any geographic area in which Holdings, the Company and their respective Subsidiaries conduct their Business, including North America, Australia, Europe, Asia, South America and Africa and beyond. For purposes of this Agreement, the term
“participate in” shall include having any direct or indirect interest in any corporation, partnership, joint venture or other entity, whether as a sole proprietor, owner, stockholder, partner, joint venturer, creditor or otherwise, or
rendering any direct or indirect service or assistance to any Person (whether as a director, officer, manager, supervisor, employee, agent, consultant or otherwise). Notwithstanding the restrictions specified in this
Section 7(a), nothing herein shall be construed to prohibit Executive from (i) owning, solely as a passive investment, the securities of an entity which are publicly traded on a national or regional stock exchange or
on the over-the-counter market or investing through a private equity fund in securities of an entity that is not publicly traded; provided, that Executive does
not, directly or indirectly, own 2% or more of any class of securities of such entity, or (ii) owning, solely as a passive investment, the securities of an entity which are not publicly traded; provided, that such entity (including each
of its Subsidiaries) is not engaged in the Business. For purposes herein, “Business” means the business of online fast fashion apparel (including designing, manufacturing, marketing and selling such apparel), as the same may be
altered, amended, supplemented or otherwise changed from time to time, and any other business in which Holdings, the Company or any of their respective Subsidiaries is engaged during the course of Executive’s employment with Holdings, the
Company and their respective Subsidiaries. 

  
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 (b) Non-Solicit. Executive shall not,
directly or indirectly through another Person (other than on behalf of Holdings, the Company and their respective Subsidiaries), either individually or acting in concert with another Person or Persons, (i) induce or attempt to induce any
employee or independent contractor of Holdings, the Company or any of their respective Subsidiaries to leave the employ or services of Holdings, the Company or such respective Subsidiary, or in any way interfere with the relationship between
Holdings, the Company or any such respective Subsidiary and any employee or independent contractor thereof during the course of Executive’s employment with Holdings, the Company and their respective Subsidiaries or the one (1)-year period
following the termination of Executive’s employment with Holdings, the Company and their respective Subsidiaries, or (ii) induce or attempt to induce any customer, supplier, licensee, licensor or other business relation of Holdings, the
Company or any respective Subsidiary to cease doing business with Holdings, the Company or such respective Subsidiary, or in any way interfere with the relationship between any such customer, supplier, licensor or other business relation and
Holdings, the Company or any respective Subsidiary (including, without limitation, making any negative or disparaging statements or communications regarding Holdings, the Company or any of their respective Subsidiaries) during the course of
Executive’s employment with Holdings, the Company and their respective Subsidiaries. 
 (c)
Non-Disparagement. Without limiting any other obligation of Executive pursuant to this Agreement, Executive hereby covenants and agrees that, except as may be required by applicable law, Executive shall
not make any statement, written or verbal, in any forum or media, or take any other action in disparagement of Holdings, the Company or any of their respective Subsidiaries or Affiliates, during the course of Executive’s employment with
Holdings, the Company and their respective Subsidiaries or any time after the termination of Executive’s employment with Holdings, the Company and their respective Subsidiaries. The Company agrees to instruct Board members and its senior
executives not to, while serving as a Board member or employed by the Company, as the case may be, make negative comments about Executive or otherwise disparage Executive in any manner that is likely to be harmful to Executive’s business
reputation. The foregoing shall not be violated by truthful statements in response to legal process, required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection with
such proceedings), and the foregoing limitation on Board members and the Company’s senior executives shall not be violated by statements that they in good faith believe are necessary or appropriate to make in connection with performing their
duties and obligations to the Company. 
 (d) Blue-Pencil. If, at the time of enforcement of Sections 5 or 6 or this
Section 7, a court shall hold that the duration, scope or area restrictions stated herein are unreasonable under circumstances then existing, the parties agree that the maximum duration, scope or area reasonable
under such circumstances shall be substituted for the stated duration, scope or area and that the court shall be allowed to revise the restrictions contained herein to cover the maximum duration, scope and area permitted by law. Executive hereby
acknowledges that the restrictions in Sections 5 and 6 and this Section 7 are reasonable and represents that Executive has either consulted with independent legal counsel regarding Executive’s rights and
obligations under this Agreement or knowingly and voluntarily waived the opportunity to do so and that Executive fully understands the terms and conditions contained herein. 

  
 11 

 (e) Additional Acknowledgments. Executive acknowledges that the provisions of
Sections 5 and 6 and this Section 7 are in consideration of Executive’s employment with the Company, the future issuance of incentive equity to the Executive by Holdings and other good and valuable
consideration as set forth in this Agreement. In addition, Executive agrees and acknowledges that the restrictions contained in Sections 5 and 6 and this Section 7 do not preclude Executive from earning a
livelihood, nor do they unreasonably impose limitations on Executive’s ability to earn a living. In addition, Executive acknowledges (i) that the business of Holdings, the Company, and their respective Subsidiaries will be conducted
throughout North America, Australia, Europe, Asia, South America and Africa and beyond, (ii) notwithstanding the state of organization or principal office of Holdings, the Company or any of their respective Subsidiaries or facilities, or any of
their respective executives or employees (including Executive), it is expected that Holdings, the Company and their respective Subsidiaries will have business activities and have valuable business relationships within its industry throughout North
America, Australia, Europe, Asia, South America and Africa and beyond, and (iii) as part of Executive’s responsibilities, Executive will be traveling throughout North America, Australia, Europe, Asia, South America and Africa and other
jurisdictions where Holdings, the Company and their respective Subsidiaries conduct business during the course of Executive’s employment with Holdings, the Company and their respective Subsidiaries in furtherance of their business
relationships. Executive agrees and acknowledges that the restrictions contained in Sections 5 and 6 and this Section 7 are necessary to protect the legitimate business interests of Holdings, the Company and their respective
Subsidiaries and that the potential harm to Holdings, the Company and their respective Subsidiaries of the non-enforcement of any provision of Sections 5 and 6 and this
Section 7 outweighs any potential harm to Executive of its enforcement by injunction or otherwise. Executive acknowledges that Executive has carefully read this Agreement and either consulted with legal counsel of
Executive’s choosing regarding its contents or knowingly and voluntarily waived the opportunity to do so, has given careful consideration to the restraints imposed upon Executive by this Agreement and is in full accord as to their necessity for
the reasonable and proper protection of confidential and proprietary information of Holdings, the Company and their respective Subsidiaries and Affiliates now existing or to be developed in the future. Executive expressly acknowledges and agrees
that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, duration and geographical area. 
 (f)
Specific Performance. In the event of the breach or a threatened breach by Executive of any of the provisions of Sections 5 or 6 or this Section 7, Holdings, the Company and their respective Subsidiaries and
Affiliates would suffer material and irreparable harm and money damages would not be a sufficient or adequate remedy for any such breach and, in addition and supplementary to other rights and remedies existing in its favor whether hereunder
(including Section 7) or under any other agreement, at law or in equity, the Company shall be entitled to specific performance and/or injunctive or other equitable relief from a court of law or equity of competent jurisdiction in order
to enforce or prevent any violations of the provisions hereof (without posting a bond, deposit or other security). In addition, in the event of an alleged breach or violation by Executive of this Section 7, the Restricted
Period shall be tolled until such breach or violation has been duly cured. 

  
 12 

 8. Executive’s Representations. Executive hereby represents and warrants to the
Company that (a) the execution, delivery and performance of this Agreement by Executive do not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which
Executive is a party or by which Executive is bound, (b) except as previously disclosed to the Company in writing (a copy of such agreement having been provided to the Company and with respect to which all noncompete restrictions shall expire
prior to the commencement of the Employment Period), Executive is not a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity and (c) upon the execution and delivery of
this Agreement by the Company, this Agreement shall be the valid and binding obligation of Executive, enforceable in accordance with its terms. Executive hereby acknowledges and represents that Executive has either consulted with independent legal
counsel regarding Executive’s rights and obligations under this Agreement or knowingly and voluntarily waived the opportunity to do so and that Executive fully understands the terms and conditions contained herein. 

9. Definitions. For purposes of this Agreement, the following terms shall have the meanings set forth below: 

“Affiliate Transaction” shall mean any agreement, transaction (including hiring), commitment or arrangement between Holdings
or any of its Subsidiaries, on the one hand, and any of Holdings’ or any of its Subsidiary’s then existing officers, managers, directors, employees, equityholders or Affiliates or with any individual related by blood, marriage or adoption
to any such individual or with any entity in which any such Person or individual owns a beneficial interest, on the other hand. 

“Affiliate” of any particular Person shall mean any other Person controlling, controlled by or under common control or common
investment management with such particular Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person, whether through the ownership of voting securities, contract
or otherwise, and such “control” shall be conclusively presumed if any Person owns ten percent (10%) or more of the voting capital stock or other equity securities, directly or indirectly, of any other Person. 

“Cause” shall mean with respect to Executive one or more of the following: (a) the indictment for, conviction of, or
plea of guilty or nolo contendere to (i) a felony (other than a driving offense related solely to driving in excess of the speed limit), (ii) any other crime involving moral turpitude, or (iii) any crime involving misappropriation,
embezzlement or fraud with respect to Holdings, the Company or any of their respective Subsidiaries or any of their customers or suppliers, (b) conduct that would reasonably be expected to cause Holdings, the Company or any of their respective
Subsidiaries substantial public disgrace or disrepute or economic harm, (c) repeated refusal to perform duties consistent with this Agreement as reasonably directed by the Board or the CEO, including (i) Executive’s persistent neglect
of duty or chronic unapproved absenteeism (other than for Disability) or (ii) Executive’s refusal to comply with any lawful directive or policy of the Board or the CEO, (d) any act or knowing omission aiding or abetting a competitor,
supplier or customer of Holdings, the Company or any of their respective Subsidiaries to the disadvantage or detriment of Holdings, the Company or any of their respective Subsidiaries, (e) breach of fiduciary duty, gross negligence or willful
misconduct with respect to Holdings, the 

  
 13 

 
Company or any of their respective Subsidiaries, (f) addiction to alcohol, drugs or other similar substances that impairs Executive’s performance, or (g) any other material breach
by Executive of this Agreement or any other agreement between Executive and Holdings, the Company or any of their respective Subsidiaries which is incurable or not cured to the Board’s reasonable satisfaction within thirty (30) days after
written notice thereof to Executive. 
 “Disabled” shall mean with respect to Executive that, as a result of
Executive’s incapacity due to physical or mental illness, Executive is considered disabled under the Company’s long-term disability insurance plans or, in the absence of such plans, Executive is unable to perform the essential duties,
responsibilities and functions of Executive’s position with the Company and their Subsidiaries and Affiliates for a period of not less than one hundred eighty (180) days (whether or not consecutive) as a result of any mental or physical
disability or incapacity even with reasonable accommodations of such disability or incapacity provided by the Company and their Subsidiaries and Affiliates or if providing such accommodations would be unreasonable, all as determined by the Board in
its good faith judgment. Executive shall cooperate in all respects with the Company if a question arises as to whether Executive has become Disabled (including, without limitation, submitting to an examination by a medical doctor or other health
care specialists selected by the Company, with input from Executive, and authorizing such medical doctor or such other health care specialist to discuss Executive’s condition with the Company). 

“Good Reason” shall mean the occurrence of any of the following without Executive’s written consent: (a) a material
reduction in Executive’s Base Salary or Target Bonus, other than as a part of and in proportion to a reduction in compensation affecting employees of the Company, or its successor entity, generally; (b) a material adverse change in
Executive’s title, authority, responsibilities or duties; or (c) the Company’s requirement that Executive relocate her primary work location to a location that increases her one-way commute by
more than thirty (30) miles. For “Good Reason” to be established, (i) Executive must provide written notice to the Board Chairman or lead Director within thirty (30) days of the first occurrence of any such event;
(ii) the Company must fail to materially remedy such event within thirty (30) days after its receipt of such written notice, and (iii) Executive’s resignation must be effective not later than thirty (30) days after the
expiration of such cure period. 
 “Incentive Equity Agreement” shall mean that certain Incentive Equity Agreement, dated
as of the Effective Date, by and among Executive, the Company and Holdings, in the form attached hereto as Exhibit B. 

“Person” shall mean an individual, a partnership, a corporation (whether or not for profit), a limited liability company, an
association, a joint stock company, a trust, a joint venture, or other business entity, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

“Subsidiary,” when used with respect to any Person, shall mean any corporation or other entity of which the securities or
other ownership interests having the voting power to elect a majority of the board of directors or other governing body are, at the time of determination, owned by such Person or of which such Person serves as the managing member or in a similar
capacity or of which such Person holds a majority of the partnership or limited liability company or similar interests or is otherwise entitled to receive a majority of distributions made by it, in each case directly or through one or more
Subsidiaries, and any other Person in which such Person directly or indirectly invests. 

  
 14 

 10. Survival. Sections 4 through 24 (other than
Section 22) shall survive and continue in full force in accordance with their terms notwithstanding the expiration or termination of the Employment Period. 

11. Notices. Any notice provided for in this Agreement shall be in writing and shall be personally delivered, sent by facsimile (with
hard copy to follow), sent by reputable overnight courier service, or mailed by first class mail, return receipt requested, to the recipient at the address below indicated: 

Notices to Executive: 
 Shih-Fong
Wang 
 [*****] 
 Email:
[*****] 
 Notices to the Company: 

Excelerate US, Inc. 
 c/o Summit
Partners, L.P. 
 222 Berkeley Street 

Boston, MA 02116 

Attention:     Christopher J. Dean 

         Matthew G. Hamilton 

Email:          [*****] 

         [*****] 

With copies to: 
 Excelerate,
L.P. 
 c/o Summit Partners, L.P. 

222 Berkeley Street 
 Boston, MA
02116 
 Attention:     Christopher J. Dean 

         Matthew G. Hamilton Email: 

         [*****] 

         [*****] 

and: 
 Kirkland & Ellis
LLP 
 300 North LaSalle Street 

Chicago, IL 60654 

Attention:     Brian C. Van Klompenberg, P.C. 

Email:           bvanklompenberg@kirkland.com 

  
 15 

 Kirkland & Ellis LLP 

200 Clarendon Street 
 Boston,
MA 02116 
 Attention:     Matthew D. Cohn, P.C. 

Email:           matthew.cohn@kirkland.com 

or such other address or to the attention of such other Person as the recipient party shall have specified by prior written notice to the sending party. Any
notice under this Agreement shall be deemed to have been given when so delivered or sent by facsimile (subject to automatic proof of transmission), one day after being sent by overnight courier or three (3) days after being mailed by first
class mail, return receipt requested, as applicable. 
 12. Severability. Whenever possible, each provision of this Agreement shall
be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement or the application of any such provision to any Person or circumstance shall be held to be prohibited by, illegal or
unenforceable in any respect under any applicable law or rule in any jurisdiction, such provision shall be ineffective only in the jurisdiction where so held and only to the extent of such prohibition or illegality or unenforceability, without
invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 13. Complete Agreement. This Agreement
and those documents expressly referred to herein embody the complete agreement and understanding among the parties with respect to, and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or
oral, which may have related to, the subject matter hereof in any way, including, without limitation, any prior employment agreement, by and between Executive and the Company or any of its Subsidiaries. 

14. No Strict Construction. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction shall be applied against any party. 
 15. Counterparts. This
Agreement may be executed in separate counterparts (including by means of facsimile or by electronic transmission in portable document format (pdf) or comparable electronic transmission), each of which is deemed to be an original and all of which
taken together constitute one and the same agreement. 
 16. Successors and Assigns. This Agreement is personal in nature and neither
of the parties hereto shall, without the consent of the other, assign, transfer or delegate this Agreement or any rights or obligations hereunder; provided that (a) this Agreement will inure to the benefit of and be enforceable by
Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees and legatees (but otherwise will not otherwise be assignable, transferable or delegable by Executive), and (b) this Agreement will be
assignable, transferable or delegable by the Company without the consent of Executive to Holdings, the Company or any of their respective Subsidiaries or to any successor (whether direct or indirect, in whatever form of transaction) to all or
substantially all of their business or assets (none of which shall constitute a termination of Executive’s employment hereunder). 

  
 16 

 17. Choice of Law. All issues and questions concerning the construction, validity,
enforcement and interpretation of this Agreement and the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of California, without giving effect to any choice of law or conflict of law rules
or provisions (whether of the State of California or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of California. 

18. Amendment and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company
(as approved by the Board) and Executive which consent shall specifically state the intent of both parties hereto to supplement the terms herein, and no course of conduct or course of dealing or failure or delay by any party hereto in enforcing or
exercising any of the provisions of this Agreement (including, without limitation, the Company’s right to terminate the Employment Period for Cause) shall affect the validity, binding effect or enforceability of this Agreement or be deemed to
be an implied waiver of any provision of this Agreement. 
 19. Insurance. The Company and/or Holdings may, at its discretion, apply
for and procure in its own name and for its own benefit life and/or disability insurance on Executive in any amount or amounts considered advisable. Executive agrees to reasonably cooperate in any medical or other examination, supply any information
and execute and deliver any applications or other instruments in writing as may be reasonably necessary to obtain and constitute such insurance. Executive hereby represents that Executive has no reason to believe that Executive’s life is not
insurable at rates now prevailing for a healthy person of Executive’s age. 
 20. Indemnification and Reimbursement of Payments on
Behalf of Executive. Holdings and its Subsidiaries shall be entitled to deduct or withhold from any amounts owing from Holdings or any of its Subsidiaries to Executive any federal, state, local or foreign withholding taxes, excise tax, or
employment taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments from Holdings, the Company or any of their respective Subsidiaries or Executive’s ownership interest in Holdings, the Company or
any of their respective Subsidiaries (including, without limitation, wages, bonuses, dividends, the receipt or exercise of equity options and/or the receipt or vesting of restricted equity), as may be required to be deducted or withheld by any
applicable law or regulation. In the event Holdings or any of its Subsidiaries does not make such deductions or withholdings, Executive shall indemnify Holdings and its Subsidiaries for any amounts paid with respect to any such Taxes, together (if
such failure to withhold was at the written direction of Executive) with any interest, penalties and related expenses thereto. 
 21.
Waiver of Jury Trial. THE PARTIES TO THIS AGREEMENT EACH HEREBY KNOWINGLY AND INTENTIONALLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING UNDER THIS
AGREEMENT OR (B) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND
WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. THE PARTIES TO THIS AGREEMENT EACH HEREBY AGREES AND 

  
 17 

 
CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE A COPY OF THIS AGREEMENT WITH ANY
COURT AS WRITTEN EVIDENCE OF THE AGREEMENT AND CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
 22.
Corporate Opportunity. During the Employment Period, Executive shall submit to the Board all business, commercial and investment opportunities or offers presented to Executive or of which Executive becomes aware which relate to the business
of Holdings, the Company or their respective Subsidiaries, at any time during the Employment Period (“Corporate Opportunities”). During the Employment Period, unless approved by the Board, Executive shall not accept or pursue,
directly or indirectly, any Corporate Opportunities on Executive’s own behalf. 
 23. Executive’s Cooperation. During the
Employment Period and thereafter during Executive’s lifetime, Executive shall cooperate with Holdings, the Company and their respective Subsidiaries and Affiliates in any internal investigation or administrative, regulatory or judicial
investigation or proceeding or any dispute with any third party as reasonably requested by Holdings, the Company and their respective Subsidiaries and Affiliates (including, without limitation, Executive being available to Holdings, the Company and
their respective Subsidiaries and Affiliates upon reasonable notice for interviews and factual investigations, appearing at Holdings’, the Company’s or any of their respective Subsidiaries’ or Affiliates’ request to give
testimony without requiring service of a subpoena or other legal process, volunteering to Holdings, the Company and their respective Subsidiaries and Affiliates all pertinent information and turning over to Holdings, the Company and their respective
Subsidiaries and Affiliates all relevant documents which are or may come into Executive’s possession, all at times and on schedules that are reasonably consistent with Executive’s other permitted activities and commitments). In the event
Holdings, the Company or any of their respective Subsidiaries or Affiliates requires Executive’s cooperation in accordance with this Section 23, the Company shall pay Executive a reasonable per diem as determined by
the Board and reimburse Executive for reasonable expenses incurred in connection therewith (including lodging and meals, upon submission of receipts). 

24. Indemnification. During the term of Executive’s employment and thereafter, the Company agrees that it shall indemnify
Executive and provide Executive with Directors & Officers liability insurance coverage to the same extent that it indemnifies and/or provides such insurance coverage to the Board and other most senior executive officers. 

25. Delivery by Facsimile or PDF. This Agreement, the agreements referred to herein, and each other agreement or instrument entered
into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered by means of a facsimile machine or electronic transmission in pdf, shall be treated in all manner
and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party hereto or to any such agreement or
instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise the use of a
facsimile machine or electronic transmission in pdf to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or electronic transmission in pdf as a
defense to the formation or enforceability of a contract and each such party forever waives any such defense. 
 * * * * * 

  
 18 

 EXECUTION VERSION 

IN WITNESS WHEREOF, the parties hereto have executed this Employment Agreement as of the date first written above. 

 

			
	EXCELERATE US, INC.

 
			
		
	By:	 	/s/ Matthew Hamilton

 
			
	Name: Matthew Hamilton
	Its: Vice President
	
	/s/ Shih-Fong Wang
	SHIH-FONG WANG

 EXECUTION VERSION 

Exhibit A 
 GENERAL
RELEASE 
 I, Shih-Fong Wang, in consideration of and subject to the performance by Excelerate US, Inc., a Delaware corporation
(together with its subsidiaries and affiliates, the “Company”), of its obligations under the Employment Agreement, dated as of September 20, 2018 and effective as of September 24, 2018 (the “Agreement”),
do hereby release and forever discharge as of the date hereof Excelerate, L.P. (“Holdings”), the Company and their Subsidiaries and Affiliates (each as defined therein) and all present and former managers, directors, officers,
agents, representatives, employees, successors and assigns of Holdings, the Company and their Subsidiaries and Affiliates and their direct and indirect owners (collectively, the “Released Parties”) to the extent provided below. 

1. I understand that any payments or benefits paid or granted to me under Section 4(b)(iii) of the Agreement represent, in part,
consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive the payments and benefits specified in Section 4(b)(iii) of the Agreement
unless I execute this General Release and do not revoke this General Release within the time period permitted hereafter or breach this General Release. Such payments and benefits will not be considered compensation for purposes of any employee
benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its affiliates. I also acknowledge and represent that I have received all payments and benefits that I am entitled to receive (as of the date hereof)
by virtue of any employment by the Company. 
 2. Except as provided in paragraph 4 below and except for the provisions of the Agreement
that expressly survive the termination of my employment with the Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever discharge the Company and the other Released Parties from any and
all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or
liabilities of any nature whatsoever in law and in equity, both past and present (through the date I executed this General Release) and whether known or unknown, suspected, or claimed against the Company or any of the Released Parties that I, my
spouse, or any of my heirs, executors, administrators or assigns, may have, which arise out of or are connected with my employment with, or my separation or termination from, the Company (including, but not limited to, any allegation, claim or
violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of
1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Orders; the
Fair Labor Standards Act; or their state or local counterparts; or under any other federal, state or local civil or human rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or
tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any claim for costs, fees, or other expenses,
including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the “Claims”). 

 I have read Section 1542 of the Civil Code of the State of California, which provides
as follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE
TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 I
understand that Section 1542 gives me the right not to release existing claims of which I am not aware, unless I voluntarily choose to waive this right. Having been so apprised, I hereby voluntarily elect to and do waive the rights described in
Section 1542 and elect to assume all risks for claims that existed in my favor, known or unknown. 
 3. I represent that I have made no
assignment or transfer of any right, claim, demand, cause of action, or other matter covered by paragraph 2 above. 
 4. I agree that this
General Release does not waive or release any rights or claims that I may have under the Age Discrimination in Employment Act of 1967 that arise after the date I execute this General Release. I acknowledge and agree that my separation from
employment with the Company is in compliance with the terms of the Agreement and company policy and shall not serve as the basis for any Claim (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). 

5. I agree that I am waiving all rights to sue or obtain equitable, remedial or punitive relief from any or all Released Parties of any kind
whatsoever, including, without limitation, reinstatement, back pay, front pay, attorneys’ fees and any form of injunctive relief. Notwithstanding the above, I further acknowledge that I am not waiving and am not being required to waive any
right that cannot be waived under applicable law, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that I disclaim and waive any right to share or participate in
any monetary award resulting from the prosecution of such charge or investigation or proceeding. 
 6. In signing this General Release, I
acknowledge and intend that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. I expressly consent that this General Release shall be given full force and effect according to each and all of its
express terms and provisions, including those relating to unknown and unsuspected Claims (notwithstanding any state statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as
well as those relating to any other Claims hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the
terms of the Agreement. I further agree that in the event I should bring a Claim seeking damages against the Company, or in the event I should seek to recover against the Company in any Claim brought by a governmental agency on my behalf, this
General Release shall serve as a complete defense to such Claims to the maximum extent permitted by applicable law. 

  
 21 

 7. I represent that I am not aware of any pending charge or complaint of the type described
in paragraph 2 above as of the execution of this General Release. I represent that I am not aware of any claim by me other than the claims that are released by this General Release. I acknowledge that I may hereafter discover claims or facts in
addition to or different than those which I now know or believe to exist with respect to the subject matter of the release set forth in paragraph 2 above and which, if known or suspected at the time of entering into this General Release, may have
materially affected this General Release and my decision to enter into it. Nevertheless, I hereby waive any right, claim or cause of action that might arise as a result of such different or additional claims or facts. 

8. I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or construed
at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct. 
 9. I agree that I will
forfeit all amounts payable by the Company pursuant to Section 4(b)(iii) of the Agreement if I challenge the validity of this General Release. I also agree that if I violate this General Release by suing the Company or the other Released
Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including attorneys’ fees, and upon the Company’s request return all payments theretofore received by me pursuant to
Section 4(b)(iii) of the Agreement. 
 10. I agree that this General Release and the Agreement are confidential and agree not to
disclose any information regarding the terms of this General Release or the Agreement, except to my immediate family and any tax, legal or other counsel I have consulted regarding the meaning or effect hereof or as required by law or legal process,
and I will instruct each of the foregoing not to disclose the same to anyone. 
 11. Any
non-disclosure provision in this General Release does not prohibit or restrict me (or my attorney) from responding to any inquiry about this General Release or its underlying facts and circumstances by the
Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the National Association of Securities Dealers, Inc. (NASD), any other self-regulatory organization or governmental entity. 

12. I agree not to disparage any of the Released Parties or their past and present investors, officers, directors or employees or their
affiliates and to keep all confidential and proprietary information about the past or present business affairs of the Released Parties confidential unless a prior written release from the Company is obtained. I further agree that, as of the date
hereof, I have returned to the Company any and all property, tangible or intangible, relating to its business, that I possessed or had control over at any time (including, but not limited to, company-provided credit cards, building or office access
cards, keys, computer equipment, manuals, files, documents, records, software, customer data base and other data) and that I shall not retain any copies, compilations, extracts, excerpts, summaries or other notes of any such manuals, files,
documents, records, software, customer data base or other data. 

  
 22 

 13. Notwithstanding anything in this General Release to the contrary, this General Release
shall not relinquish, diminish, or in any way affect (i) any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof, (ii) any vested rights I may have under the employee
benefit plans, programs, or policies of the Company and its affiliates; (iii) any indemnification rights to which I may be entitled under the Company’s Articles of Incorporation or Bylaws, by contract, as a matter of law, or otherwise, or
under any power that the Company may have to indemnify me or hold me harmless, (iv) my rights following the date hereof with respect to any equity interests I hold in the Company or any of its past or present affiliates or (v) any rights
or claims that cannot be waived by law. 
 14. Whenever possible, each provision of this General Release shall be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction such invalidity, illegality and
unenforceability shall not affect any other provision or its validity and enforceability in any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision had never been contained herein. 
 BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 

 

	(a)	 I HAVE READ IT CAREFULLY; 

 

	(b)	 I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING, BUT NOT LIMITED TO,
RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED; TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED; THE EQUAL PAY ACT OF 1963; THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
OF 1974, AS AMENDED; 

  

	(c)	 I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

 

	(d)	 I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL
READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION; 

  

	(e)	 I HAVE HAD AT LEAST [21][45] DAYS FROM THE DATE OF MY RECEIPT OF THIS GENERAL RELEASE SUBSTANTIALLY IN ITS
FINAL FORM ON _______________ ______, TO CONSIDER IT AND THE CHANGES MADE SINCE THE ___________________ _____ VERSION OF THIS GENERAL RELEASE ARE NOT MATERIAL AND WILL NOT RESTART THE REQUIRED [21][45]-DAY
PERIOD; 

  

	(f)	 THE CHANGES TO THIS GENERAL RELEASE SINCE _________, _____ EITHER ARE NOT MATERIAL OR WERE MADE AT MY REQUEST;

  

	(g)	 I UNDERSTAND THAT I HAVE SEVEN DAYS AFTER THE EXECUTION OF THIS GENERAL RELEASE TO REVOKE IT AND THAT THIS
GENERAL RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 

  
 23 

	(h)	 I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO
ADVISE ME WITH RESPECT TO IT; AND 

  

	(i)	 I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY
AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 

  

									
	DATE:	  	 	  		  	/s/ Shih-Fong Wang	  	 
		  		  		  	SHIH-FONG WANG	  	

  
 24 

 EXECUTION VERSION 

Exhibit B 
 Incentive
Equity AgreementEX-10.16

 Exhibit 10.16 

FOR EXECUTION 10/12/2020 

** CONFIDENTIAL ** 

October 14, 2020 
 Shih-Fong Wang 

[*****] 
 October 14, 

 

	 	Re:	 Transition Letter Agreement 

Dear Shih-Fong: 
 This letter agreement (this
“Letter Agreement”) confirms our understanding regarding your transition within and separation from employment with Excelerate US, Inc. (the “Company”). Capitalized terms used but not otherwise defined herein shall
have the meanings ascribed thereto in that certain Employment Agreement, entered into as of September 20, 2018 and effective as of September 24, 2018, by and between you and the Company (the “Employment Agreement”). 

1. Transition Overview. Your service under this Letter Agreement will commence as of October 14, 2020 (the
“Transition Date”) and continue through December 4, 2020 (such period of time hereinafter referred to as the “Transition Period”). During the Transition Period, the Company will pay you an annual base salary at
the rate of $268,500 per year, payable in accordance with the Company’s normal payroll practices, and you will continue to be eligible for all employee benefits to which you are currently entitled or to which employees of the Company become
entitled, subject, in each case, to the terms and conditions of the applicable plans or programs. The last day of the Transition Period will be the last day of your employment with the Company, with such date referred to herein as the
“Separation Date.” The Separation Date will be the termination date of your employment for purposes of active participation in and coverage under all benefit plans and programs sponsored by or through the Company or its affiliates,
and the Company shall pay any accrued but unpaid wages and an amount in respect of any accrued but unused paid time off, in each case, in a lump sum, less all applicable deductions and withholdings, within thirty (30) days following the
Separation Date, or such earlier date as may be required by applicable law. Provided you remain employed with the Company through the last day of the Transition Period, your separation from the Company will be treated as a termination by the Company
without Cause. Termination of this Agreement prior to the end of the Transition Period by the Company can only be for Cause. 
 Beginning on
the Transition Date, you will cease to serve as the Chief Financial Officer of the Company, and you will promptly execute any additional documentation necessary to effectuate the foregoing. During the Transition Period, you will serve as a
“Advisor” to the Company, and you will assist the Company with services as requested, as well as transitioning your duties and responsibilities to other individuals. . Provided you remain engaged as Advisor through December 4, 2020
and assist the Company as requested during the Transition Period, the Company will pay 

 
you the full amount of your Target Bonus for fiscal year 2020 in the amount of $105,000, which shall be payable in your final paycheck and subject to all applicable deductions and withholdings.
For the avoidance of doubt, if you do not enter into this Letter Agreement you will not be entitled to any portion of your Target Bonus for fiscal year 2020. For further clarity, if you do enter into this Letter Agreement the only circumstance in
which you would not receive your full Fiscal Year 2020 Target Bonus is a Termination for Cause. 
 Prior to the Separation Date, the Company
may transition your duties and responsibilities to other individuals, and you hereby acknowledge and agree that neither such transition, nor the Company’s search for a new chief financial officer, will constitute Good Reason to terminate your
employment, including, without limitation, on the basis that any of the foregoing constitutes a material adverse change in your title, authority, responsibilities or duties. You further agree that you will assist with the transition of your job
responsibilities to the individual(s) designated by the Company. 
 2. Separation Benefits. Pursuant to Section 4(b) of
the Employment Agreement, subject to your compliance with paragraphs 5 and 6 hereof, the Company will pay to you an amount (i.e., $268,500), which is equal to twelve (12) months of your Base Salary, payable in substantially equal
installments over the twelve (12)-month period immediately following the Separation Date, in accordance with the Company’s regular payroll practices. In addition, as further consideration for your compliance with paragraphs 5 and 6 hereof, and
subject to your compliance therewith, the Company also will pay you a monthly amount of $811.98, subject to your timely electing to continue your coverage (and, if applicable, the coverage of your eligible dependents) in the Company’s group
health plans under the federal law commonly known as “COBRA” or similar state law, which amount shall be used to cover the cost of monthly health premiums for such coverage for you and your eligible dependents, if any, until the earliest
to occur of (a) twelve (12) months following the Separation Date, (b) the date you cease to be eligible for such COBRA coverage under applicable law or plan terms and (c) the date you becomes eligible for substantially comparable
health coverage through a subsequent employer or otherwise. The payments set forth in this paragraph 2 are hereinafter referred to as the “Separation Benefits.” Payment of the Separation Benefits shall commence on the first payroll date
immediately following the Reaffirmation Agreement Effective Date (as defined below), with the first payment to include all amounts that otherwise would have been payable prior thereto absent the delay. 

3. Incentive Equity Treatment. On September 24, 2018 (the “Grant Date”), Excelerate, L.P.
(“Holdings”) issued and sold to you 2,941,176 Incentive Units (the “Incentive Units”), pursuant to that certain Incentive Equity Agreement, by and between you and Holdings, dated as of the Grant Date (the
“Incentive Equity Agreement”). Initially capitalized terms used but not otherwise defined in this paragraph 3 shall have the meaning ascribed to such terms in the Incentive Equity Agreement. 

Vesting of the Incentive Units will cease as of the Separation Date. On the Separation Date, 1,063,916 of the Incentive Units will be vested
(the “Vested Incentive Units”), and the remaining 1,877,260 of the Incentive Units will be unvested (the “Unvested Incentive Units”). Pursuant to this Letter Agreement and the Incentive Equity Agreement, all
of the Unvested Incentive Units shall automatically be forfeited and cease to be outstanding as of the Separation Date, without any payment therefor. Notwithstanding anything to the contrary in the Incentive Equity Agreement,

  
 2 

 
provided you remain engaged as a Financial Advisor through December 4, 2020 and assist the Company as requested during the Transition Period, Holdings waives its right to repurchase 261,287
of your Vested Incentive Units. Holdings also represents that no other individual, entity or Eligible Purchaser (as defined in the New CFO Incentive Equity Agreement entered into as of September 24, 2018) will have any claims or rights to
repurchase, encumber or claim rights in or to the 261,287 Vested Incentive Units under the Incentive Equity Agreement. Holdings will repurchase the remaining 802,629 of your Vested Incentive Units within the eleven (11)-month period following the
Separation Date at a repurchase price equal to the “LTM October 2020 Valuation,” as approved at the sole discretion of the Holdings Board of Managers in November 2020, and you agree to reasonably cooperate with such purchase. Holdings will
use commercially reasonable efforts to pay the repurchase price for any repurchased Incentive Units in cash on the date of the closing of the transaction specified on the Repurchase Notice; provided, in the event Holdings does not have sufficient
available unrestricted cash, as determined by the board of managers of Holdings in good faith, Holdings shall reserve the right to repurchase any remaining portion of the 802,629 Vested Incentive Units by issuing a subordinated promissory note in
accordance with the terms of your Incentive Unit Agreement. For the avoidance of doubt, if you do not enter into this Letter Agreement or do not comply with the terms set forth herein, Holdings may elect to repurchase all of your Vested Incentive
Units in accordance with the terms set forth in the Incentive Unit Agreement (including with respect to the repurchase price). 
 4.
No Other Compensation or Benefits. You acknowledge that, except (a) as expressly provided in this Letter Agreement, (b) as otherwise specifically provided under any employee benefit plan of the Company, or (c) as otherwise
required by applicable law, you will not receive any additional compensation, bonus, severance or other benefits of any kind or of any amount following the Separation Date. 

5. Release and Reaffirmation Agreement. The Separation Benefits contemplated by paragraph 2 hereof will only be due and payable
if, (a) within thirty (30) days following the Transition Date, you deliver to the Company the executed general release of claims in the form attached on Exhibit A hereto (the “Transition Release”), and the
Transition Release becomes effective and non-revocable in accordance with its terms during such thirty (30)-day period, and (b) within thirty (30) days
following the Separation Date, you deliver to the Company the Reaffirmation Agreement in the form attached on Exhibit B hereto (the “Reaffirmation Agreement”), and the Reaffirmation Agreement becomes effective and non-revocable in accordance with its terms during such thirty (30)-day period (with the date on which the Reaffirmation Agreement first becomes effective and non-revocable, the “Reaffirmation Agreement Effective Date”). 
 6.
Restrictive Covenants; Survival. You hereby (a) reaffirm your obligations under the following arrangements (collectively, the “Restrictive Covenants”): (i) Sections 5, 6 and 7 of the Employment Agreement and
(ii) Sections 4, 5 and 6 of the Incentive Equity Agreement, and (b) understand, acknowledge and agree that the Restrictive Covenants will survive your termination of employment with the Company and remain in full force and effect in
accordance with all of the terms and conditions thereof. 

  
 3 

 7. Return of Company Property. On or as soon as reasonably practicable
following the Separation Date, you shall promptly return, to the Company, originals or copies of any and all materials, documents, notes, manuals or lists containing or embodying confidential information, or relating directly or indirectly to the
business of Holdings or its subsidiaries, then in your possession or control. 
 8. Governing Law. This Letter Agreement, the
rights and obligations of the parties hereto, and any claims or disputes relating thereto shall be governed by and construed in accordance with Sections 17 and 21 of the Employment Agreement; provided, that, for the avoidance of doubt, any
disputes with regard to the Incentive Equity Agreement will be determined in accordance with the governing provisions of the Incentive Equity Agreement. 

9. Tax Matters. The Company may withhold from any and all amounts payable under this Letter Agreement such federal, state, local
or foreign taxes as may be required to be withheld pursuant to any applicable law or regulation. The intent of the parties is that the payments contemplated under this Letter Agreement be either compliant with, or exempt from, Section 409A of
the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder (“Code Section 409A”), and accordingly, to the maximum extent permitted, this Letter Agreement will be
interpreted to be in compliance therewith or exempt therefrom. You and the Company hereby agree that your termination of employment and the Separation Date will constitute a “separation from service” within the meaning of Code
Section 409A. Additionally, Section 4(g) of the Employment Agreement will apply mutatis mutandis to this Letter Agreement. 

10. Entire Agreement. Except as otherwise expressly provided herein, this Letter Agreement (inclusive of Exhibit A and
Exhibit B attached hereto) constitutes the entire agreement among you, the Company and Holdings with respect to the subject matter hereof and supersedes any and all prior agreements or understandings among you, the Company and Holdings with
respect to the subject matter hereof, whether written or oral (including, without limitation, the Employment Agreement; provided, that, (a) Sections 4(e), 4(f), 4(g), and 5 through 24 (excluding Section 22) of the Employment
Agreement and (b) the Incentive Equity Agreement will survive the Separation Date and remain in full force and effect in accordance with their terms). For the avoidance of doubt, all other agreements between you and the Company or Holdings,
which are not specifically superseded by this Letter Agreement, will remain in full force and effect in accordance with their terms. This Letter Agreement will bind the heirs, personal representatives, successors and assigns of you, the Company and
Holdings and inure to the benefit of you, the Company and Holdings, and your and their respective heirs, successors and assigns; provided, that, you may not assign your rights or obligations hereunder. This Letter Agreement may be amended or
modified only by a written instrument executed by you and the Company and, with respect to paragraph 3 hereof, Holdings. 
 11.
Counterparts & Signatures. This Letter Agreement may be executed in counterparts, each of which shall be deemed an original, and together any counterparts shall constitute one and the same instrument. Additionally, the
parties agree that electronic reproductions of signatures (i.e., scanned PDF versions of original signatures, facsimile transmissions, and the like) shall be treated as original signatures for purposes of execution of this Letter Agreement.

 [SIGNATURES ON FOLLOWING PAGE] 

  
 4 

 If this Letter Agreement accurately reflects your understanding as to the terms and
conditions of your transition within and potential separation from employment with the Company, please sign one copy of this Letter Agreement in the space provided below and return the same for the Company’s records. 

 

			
	Very truly yours,
	
	EXCELERATE US, INC./ a.k.a. Brands, Inc.

 
			
		
	By:	 	/s/ Jill Ramsey
		
	Name:	 	Jill Ramsey
		
	Title:	 	CEO

 
			
	
	For purposes of paragraph 3,
	
	EXCELERATE, L.P.

 
			
		
	By:	 	/s/ Jill Ramsey
		
	Name:	 	Jill Ramsey
		
	Title:	 	CEO

 EXECUTIVE ACKNOWLEDGMENT 

The above terms and conditions accurately reflect our understanding regarding the terms and conditions of my transition within and potential
separation from employment with the Company, and I hereby confirm my agreement to the same. 
  

							
	Dated: October 14, 2020	 		 	 /s/ Shih-Fong Wang

		 		 	 Shih-Fong Wang

  
 Transition
Letter Agreement Signature Page 

 EXHIBIT A 

GENERAL RELEASE 
 I,
Shih-Fong Wang, in consideration of and subject to the performance by Excelerate US, Inc., a Delaware corporation (together with its subsidiaries and affiliates, the “Company”), of its obligations under the Transition Letter
Agreement, dated as of October 14, 2020 (the “Letter Agreement”), do hereby release and forever discharge as of the date hereof Excelerate, L.P. (“Holdings”), the Company and their Subsidiaries and
Affiliates (each as defined therein) and all present and former managers, directors, officers, agents, representatives, employees, successors and assigns of Holdings, the Company and their Subsidiaries and Affiliates and their direct and indirect
owners (collectively, the “Released Parties”) to the extent provided below (this “General Release”). Capitalized terms used but not otherwise defined herein shall have the meaning ascribed thereto in the
Letter Agreement. 
 1. I understand that the Separation Benefits represent, in part, consideration for signing this General Release
and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive the Separation Benefits (i) unless I execute this General Release and do not revoke this General Release within the time
period permitted hereafter, (ii) unless I execute and do not revoke the Reaffirmation Agreement within the time period permitted therein or (iii) if I breach this General Release or the Reaffirmation Agreement. The Separation Benefits will
not be considered compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its Affiliates. I also acknowledge and represent that I have received all payments and
benefits that I am entitled to receive (as of the date hereof) by virtue of any employment by the Company. 
 2. Except as provided
in paragraph 4 below and except for the provisions of the Letter Agreement and the Employment Agreement that expressly survive the termination of my employment with the Company, I knowingly and voluntarily (for myself and my heirs, executors,
administrators and assigns) release and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages,
liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date I execute this General Release), and
whether known or unknown, suspected or claimed against the Company or any of the Released Parties that I, my spouse, or any of my heirs, executors, administrators or assigns, may have, which arise out of or are connected with my employment with, or
my separation or termination from, the Company (including, but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in
Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining
and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Orders; the Fair Labor Standards Act; or their state or local counterparts; or under any other federal, state or local civil or human rights law, or
under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge,
breach of contract, infliction of emotional distress, defamation; or any claim for costs, fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the
“Claims”). 

  
 A-1 

 I have read Section 1542 of the Civil Code of the State of California, which provides
as follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE
TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 I
understand that Section 1542 gives me the right not to release existing claims of which I am not aware, unless I voluntarily choose to waive this right. Having been so apprised, I hereby voluntarily elect to and do waive the rights described in
Section 1542 and elect to assume all risks for claims that existed in my favor, known or unknown. 
 3. I represent that I have
made no assignment or transfer of any right, claim, demand, cause of action or other matter covered by paragraph 2 above. 
 4. I
agree that this General Release does not waive or release any rights or claims that I may have under the Age Discrimination in Employment Act of 1967 that arise after the date I execute this General Release. I acknowledge and agree that my
separation from employment with the Company is in compliance with the terms of the Letter Agreement and company policy and shall not serve as the basis for any Claim (including, without limitation, any claim under the Age Discrimination in
Employment Act of 1967). 
 5. I agree that I am waiving all rights to sue or obtain equitable, remedial or punitive relief from any
or all Released Parties of any kind whatsoever, including, without limitation, reinstatement, back pay, front pay, attorneys’ fees and any form of injunctive relief. Notwithstanding the above, I further acknowledge that I am not waiving and am
not being required to waive any right that cannot be waived under applicable law, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that I disclaim
and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. 

6. In signing this General Release, I acknowledge and intend that it shall be effective as a bar to each and every one of the Claims
hereinabove mentioned or implied. I expressly consent that this General Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims
(notwithstanding any state statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. I acknowledge
and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the terms of the Letter Agreement. I further agree that in the event I should bring a Claim
seeking damages against the Company, or in the event I should seek to recover against the Company in any Claim brought by a governmental agency on my behalf, this General Release shall serve as a complete defense to such Claims to the maximum extent
permitted by applicable law. 

  
 A-2 

 7. I represent that I am not aware of any pending charge or complaint of the type
described in paragraph 2 above as of the execution of this General Release. I represent that I am not aware of any claim by me other than the claims that are released by this General Release. I acknowledge that I may hereafter discover claims or
facts in addition to or different than those which I now know or believe to exist with respect to the subject matter of the release set forth in paragraph 2 above and which, if known or suspected at the time of entering into this General Release,
may have materially affected this General Release and my decision to enter into it. Nevertheless, I hereby waive any right, claim or cause of action that might arise as a result of such different or additional claims or facts. 

8. I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or
construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct. 
 9. I
agree that I will forfeit the Separation Benefits payable by the Company pursuant to paragraph 2 of the Letter Agreement if I challenge the validity of this General Release. I also agree that if I violate this General Release by suing the Company or
the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including attorneys’ fees, and upon the Company’s request return all Separation Benefits received by me pursuant
to paragraph 2 of the Letter Agreement. 
 10. I agree that this General Release and the Letter Agreement are confidential and agree
not to disclose any information regarding the terms of this General Release or the Letter Agreement, except to my immediate family and any tax, legal or other counsel I have consulted regarding the meaning or effect hereof or as required by law or
legal process, and I will instruct each of the foregoing not to disclose the same to anyone. 
 11. Any non-disclosure provision in this General Release does not prohibit or restrict me (or my attorney) from responding to any inquiry about this General Release or its underlying facts and circumstances by the
Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the National Association of Securities Dealers, Inc. (NASD), any other self- regulatory organization or governmental entity. 

12. I agree not to disparage any of the Released Parties or their past and present investors, officers, directors or employees or their
affiliates and to keep all confidential and proprietary information about the past or present business affairs of the Released Parties confidential unless a prior written release from the Company is obtained. I further agree that, as of the date
hereof, I have returned to the Company any and all property, tangible or intangible, relating to its business, that I possessed or had control over at any time (including, but not limited to, company-provided credit cards, building or office access
cards, keys, computer equipment, manuals, files, documents, records, software, customer data base and other data) and that I shall not retain any copies, compilations, extracts, excerpts, summaries or other notes of any such manuals, files,
documents, records, software, customer data base or other data. 

  
 A-3 

 13. Notwithstanding anything in this General Release to the contrary, this General
Release shall not relinquish, diminish, or in any way affect (i) any rights or claims arising out of any breach by the Company or by any Released Party of the Letter Agreement after the date hereof or (ii) any rights or claims that cannot
be waived by law. 
 14. Whenever possible, each provision of this General Release shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction such invalidity, illegality and
unenforceability shall not affect any other provision or its validity and enforceability in any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision had never been contained herein. 
 BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 

 

	(a)	 I HAVE READ IT CAREFULLY; 

 

	(b)	 I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING, BUT NOT LIMITED TO,
RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED; TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED; THE EQUAL PAY ACT OF 1963; THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
OF 1974, AS AMENDED; 

  

	(c)	 I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

 

	(d)	 I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL
READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION; 

  

	(e)	 I HAVE HAD AT LEAST TWENTY-ONE (21) DAYS FROM THE DATE OF MY
RECEIPT OF THIS GENERAL RELEASE TO CONSIDER IT AND ANY CHANGES MADE SINCE MY RECEIPT OF THIS GENERAL RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST AND WILL NOT RESTART THE REQUIRED TWENTY-ONE (21)-DAY PERIOD; 

  

	(f)	 I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS GENERAL RELEASE TO REVOKE IT AND THAT
THIS GENERAL RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 

  

	(g)	 I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO
ADVISE ME WITH RESPECT TO IT; AND 

  
 A-4 

	(h)	 I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY
AN INSTRUMENT 

 IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 

[DO NOT SIGN BEFORE THE TRANSITION DATE.] 
  

									
	SIGNED:	  	/s/ Shih-Fong Wang	  		  	DATED:	  	October 14, 2020
		  	Shih-Fong Wang	  		  		  	

  
 A-5 

 EXHIBIT B 

REAFFIRMATION AGREEMENT 

This Reaffirmation Agreement (this “Reaffirmation Agreement”) is entered into by and between Shih-Fong Wang (the
“Executive”) and Excelerate US, Inc., a Delaware corporation (together with its subsidiaries and affiliates, the “Company,” and, together with the Executive, the “Parties”). Unless otherwise noted,
the capitalized terms in this Reaffirmation Agreement are defined in that certain Transition Letter Agreement, dated as of October 14, 2020, by and between the Parties (the “Letter Agreement”), and the General Release attached
thereto as Exhibit A (the “General Release”). This Reaffirmation Agreement will not take effect (the “Reaffirmation Agreement Effective Date”) until the expiration of the Reaffirmation Agreement Revocation
Period (as defined in paragraph 6 below), assuming that the Executive has not exercised the Executive’s right to revoke it before then. 

1. Purpose. The purpose of this Reaffirmation Agreement is to effectuate the intent and agreement of the Parties, as reflected
in the Letter Agreement, by (i) advancing the effective date of the Executive’s general waiver and release of all Claims against the Released Parties and other covenants, to the execution date of this Reaffirmation Agreement, and
(ii) reaffirming the Parties’ respective ongoing obligations to one another under the Letter Agreement. 
 2.
Consideration. The Parties expressly acknowledge the adequacy and sufficiency of the consideration flowing to one another for the execution of this Reaffirmation Agreement, as set forth fully in the Letter Agreement, including the General
Release. 
 3. Waiver and Release of Claims. Accordingly, with the Executive’s signature below, the Executive
specifically acknowledges and reaffirms the Executive’s waiver and release of all Claims that the Executive now has, may have or have had (whether known or unknown) against the Released Parties, as set forth in the General Release, to the same
extent and with all conditions, exceptions and provisos thereto as reflected in the Letter Agreement and the General Release. The Executive understands and agrees that such waiver and release will be effective as to all Claims arising on or before
the date the Executive executes this Reaffirmation Agreement. 
 4. Business Expenses and Compensation. The Executive
acknowledges that the Executive has been reimbursed by the Company for all business expenses incurred in conjunction with the performance of the Executive’s employment and that no other reimbursements are owed to the Executive. The Executive
further acknowledges that the Executive has received payment in full for all services rendered in conjunction with the Executive’s employment by the Company, and that no other compensation is owed to the Executive except as explicitly provided
in the Letter Agreement. 
 5. Return of Corporate Property. The Executive represents and warrants that, as of the Separation
Date, the Executive has returned all property of the Company within the Executive’s possession or control, including, without limitation, all keys, credit cards (without further use thereof), cell phones, computers, PDAs and all other items
belonging to the Company or which contain confidential information; and, in the case of documents, including, without limitation, all documents of any kind and in whatever medium evidenced, including, without limitation, all hard disk drive data,
diskettes, microfiche, photographs, negatives, blueprints, printed materials, tape recordings and videotapes. 

  
 B-1 

 6. Acknowledgment of Voluntary Agreement; ADEA Compliance. The Executive
acknowledges that the Executive has entered into this Reaffirmation Agreement freely and without coercion, that the Executive have been advised by the Company to consult with counsel of the Executive’s choice and that the Executive has been
given more than twenty-one (21) days to do so. The Executive acknowledges that the Executive is releasing all claims under the Age Discrimination in Employment Act of 1967, as amended (including the Older
Workers Benefit Protection Act). The Executive understands that the Executive may execute this Reaffirmation Agreement no earlier than the Separation Date. The Executive further acknowledges that within the seven
(7)-day period following the Executive’s execution of this Reaffirmation Agreement (the “Reaffirmation Agreement Revocation Period”), the Executive will have the unilateral right to
revoke this Reaffirmation Agreement, and that the Company’s continuing obligations under the Letter Agreement will become effective only upon the expiration of the Reaffirmation Agreement Revocation Period without the Executive’s
revocation hereof. In order to be effective, written notice of the Executive’s revocation of this Reaffirmation Agreement must be received by the Company on or before the last day of the Reaffirmation Agreement Revocation Period. 

THE EXECUTIVE HEREBY MAKES THE FOLLOWING REPRESENTATIONS: I HAVE READ THIS AGREEMENT AND UNDERSTAND THAT IF I SIGN IT I WILL BE GIVING UP IMPORTANT RIGHTS.
THE COMPANY HAS ADVISED ME TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS AGREEMENT AND HAS GIVEN ME AMPLE TIME TO REVIEW THIS AGREEMENT, CONSIDER THE RAMIFICATIONS OF SIGNING IT, AND TO CONSULT AN ATTORNEY. BY SIGNING BELOW, I ACKNOWLEDGE THAT I
WILLINGLY, VOLUNTARILY, AND KNOWINGLY ACCEPT AND AGREE TO ALL THE TERMS AND CONDITIONS OF THIS AGREEMENT. 
 [DO NOT SIGN BEFORE THE
SEPARATION DATE.] 
  

									
	SIGNED:	  	/s/ Shih-Fong Wang	  		  	DATED:	  	December 25, 2020
		  	Shih-Fong Wang	  		  		  	

  
 B-2

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