Document:

EX-10.3

  Exhibit 10.3

  Indemnification Agreement

   

  This Agreement, made and entered into this [_________] day of [__________], 2022 (“Agreement”), by and between Domino’s Pizza, Inc., a Delaware corporation (“Company”), and [		] (“Indemnitee”):

   

  WHEREAS, it is reasonable, prudent and necessary for the Company to obligate itself to indemnify, and to advance expenses on behalf of, its directors and executive officers to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; and

   

  WHEREAS, Indemnitee is willing to serve, continue to serve the Company as a director and/or executive officer and to take on additional service for or on its behalf on the condition that he be so indemnified.

   

  NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

   

  1.Services by Indemnitee.  Indemnitee agrees to serve as a director and/or executive officer of the Company.  Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law). 

  2.Indemnification - General.  The Company shall indemnify, and advance Expenses (as hereinafter defined) to, Indemnitee (a) as provided in this Agreement and (b) (subject to the provisions of this Agreement) to the fullest extent permitted by applicable law in effect on the date hereof and as amended from time to time.  The rights of Indemnitee provided under the preceding sentence shall include, but shall not be limited to, the rights set forth in the other Sections of this Agreement.

  3.Proceedings Other Than Proceedings by or in the Right of the Company.  Indemnitee shall be entitled to the rights of indemnification provided in this Section 3 if, by reason of Indemnitee’s Corporate Status (as hereinafter defined), Indemnitee was, is, or is threatened to be made, a party to or a participant in any threatened, pending or completed Proceeding (as hereinafter defined), other than a Proceeding by or in the right of the Company. Pursuant to this Section 3, Company shall, to the fullest extent permitted by law, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all Expenses, judgments, liabilities, losses, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, penalties, fines and amounts paid in settlement) reasonably incurred by Indemnitee or on behalf of Indemnitee in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal Proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful.

   

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  Exhibit 10.3

  4.Proceedings by or in the Right of the Company.  Indemnitee shall be entitled to the rights of indemnification provided in this Section 4 if, by reason of Indemnitee’s Corporate Status, Indemnitee was, is, or is threatened to be made, a party to or a participant in any threatened, pending or completed Proceeding brought by or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 4, Indemnitee shall be indemnified against all Expenses (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses) reasonably incurred by Indemnitee or on behalf of Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company.

  5.Partial Indemnification.  Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in defense of any Proceeding, Indemnitee shall be indemnified against all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in connection therewith.  If Indemnitee is not wholly successful in defense of such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in connection with each successfully resolved claim, issue or matter.  For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. In addition, for purposes of this Section 5, settlement of any such claim, issue or matter prior to a final judgment by a court of competent jurisdiction with respect to such Proceeding, shall be deemed to be a successful result as to such claim, issue or matter; provided, however, that any settlement of any claim, issue or matter in such a Proceeding shall not be deemed to be a successful result as to such claim, issue or matter if such settlement is effected by Indemnitee without the Company’s prior written consent.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, penalties, fines and amounts paid in settlement) reasonably incurred by Indemnitee or on behalf of Indemnitee in connection with such Proceeding or any claim, issue or matter therein, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion to which Indemnitee is entitled.

   

   

   

  6.Indemnification for Additional Expenses.

  a.The Company shall indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within seven (7) business days of such request) advance such Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for (i) indemnification or 

   

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  Exhibit 10.3

  advance payment of Expenses by the Company under this Agreement or any other agreement or by-law of the Company now or hereafter in effect; or (ii) recovery under any directors’ and officers’ liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advance expense payment or insurance recovery, as the case may be.

  b.Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness (or is forced or asked to respond to discovery requests) in any Proceeding to which Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in connection therewith.

  7.Advancement of Expenses.  The Company shall advance all reasonable Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding within seven (7) days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding.  Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by an undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such Expenses.  Indemnitee shall repay such amounts advanced if and to the extent that it shall ultimately be determined in a decision by a court of competent jurisdiction from which no appeal can be taken that Indemnitee is not entitled to be indemnified by the Company for such Expenses. Such repayment obligation shall be unsecured and shall not bear interest.  The Company shall not impose on Indemnitee additional conditions to advancement or require from Indemnitee additional undertakings regarding repayment.

  8.Procedure for Determination of Entitlement to Indemnification.

  a.To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification, in compliance with Section 20 of this Agreement.  The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.

  b.Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 8(a) hereof, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case:  (i) if a Change in Control (as hereinafter defined) shall have occurred, by Independent Counsel (as hereinafter defined) in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee; or (ii) if a Change of Control shall not have occurred, (A) by a majority vote of the Disinterested Directors (as hereinafter defined), even though less than a quorum of the Board, 

   

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  Exhibit 10.3

  or (B) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee or (C) if so directed by the Board, by the stockholders of the Company; and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within seven (7) days after such determination.  The Company and Indemnitee shall each cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.  Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification), and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 

  c.In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 8(b) hereof, the Independent Counsel shall be selected as provided in this Section 8(c).  If a Change of Control shall not have occurred, the Independent Counsel shall be selected by the Board of Directors, and the Company shall give written notice to Indemnitee advising him of the identity of the Independent Counsel so selected.  If a Change of Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board of Directors, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected.  In either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 17 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion.  If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit.  If, within 20 days after submission by Indemnitee of a written request for indemnification pursuant to Section 8(a) hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the Court or by such other person as the Court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as 

   

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  Exhibit 10.3

  Independent Counsel under Section 8(b) hereof.  The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 8(b) hereof, and the Company shall pay all reasonable fees and expenses incident to the procedures of this Section 8(c), regardless of the manner in which such Independent Counsel was selected or appointed, and if such Independent Counsel was selected or appointed by Indemnitee or the Court, shall provide such Independent Counsel with such retainer as may requested by such counsel.  Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 10(a)(iii) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

  d.Except as otherwise provided below, to the extent that it may wish, the Company jointly with any other indemnifying party similarly notified will be entitled to assume the defense thereof, with counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election so to assume the defense thereof, the Company will not be liable to Indemnitee under this Agreement for any legal or other Expense subsequently incurred by Indemnitee in connection with the defense thereof other than reasonable costs of investigation or as otherwise provided below. Indemnitee shall have the right to employ his or her own counsel in such action, suit or Proceeding, but the Expenses of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of Indemnitee unless (i) the employment of counsel by Indemnitee has been authorized by the Company, (ii) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of the defense of such action, or (iii) the Company shall not in fact have employed counsel to assume the defense of such action, in each of which cases the Expenses of counsel shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any action, suit or Proceeding brought by or on behalf of the Company or as to which Indemnitee shall have made the conclusion provided for in (ii) above; and The Company shall not be liable to indemnify any Indemnitee under this Agreement for any amounts paid in settlement of any action or claim affected without the Company’s written consent. The Company shall not settle any action or claim in any manner which would impose any cost, penalty or limitation on Indemnitee without Indemnitee’s written consent. Neither the Company nor Indemnitee will unreasonably withhold their consent to any proposed settlement.

  9.Presumptions and Effect of Certain Proceedings.

  a.In making a determination with respect to entitlement to indemnification or the advancement of expenses hereunder, the person or persons or entity making such determination shall presume that Indemnitee is entitled to indemnification or advancement of expenses under this Agreement if Indemnitee has submitted a request for indemnification or the advancement of expenses in accordance with Section 8(a) of this Agreement, and the Company shall have the burden of proof 

   

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  Exhibit 10.3

  to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption.  Neither the failure of the Company (including its board of directors or independent legal counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including its board of directors or independent legal counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

  b.If the person, persons or entity empowered or selected under Section 8 of this Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, that the foregoing provisions of this Section 9(b) shall not apply (i) if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 8(b) of this Agreement and if (A) within fifteen (15) days after receipt by the Company of the request for such determination the Board of Directors has resolved to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 8(b) of this Agreement.

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

   

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  Exhibit 10.3

  d.Reliance as Safe Harbor.  For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Company or relevant enterprise, including financial statements, or on information supplied to Indemnitee by the officers of the Company or relevant enterprise in the course of their duties, or on the advice of legal counsel for the Company or relevant enterprise or on information or records given in reports made to the Company or relevant enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Company or relevant enterprise.  The provisions of this Section 9(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

  e.Actions of Others.  The knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Company or relevant enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.

  10.Remedies of Indemnitee.

  a.In the event that (i) a determination is made pursuant to Section 8 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 7 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 8(b) of this Agreement within 90 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 6 or 7 of this Agreement within seven (7) days after receipt by the Company of a written request therefor, or (v) payment of indemnification is not made within seven (7) days after a determination has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication by the Court of Chancery of the State of Delaware, or any other court of competent jurisdiction, of his entitlement to such indemnification or advancement of Expenses.  Alternatively, Indemnitee, at his option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within one hundred eighty (180) days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 10(a); provided, however, that the foregoing clause shall not apply in respect of a proceeding brought by Indemnitee to enforce his rights under Section 5 of this Agreement.  The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

  b.In the event that a determination shall have been made pursuant to Section 8(b) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 10 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and 

   

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  Exhibit 10.3

  Indemnitee shall not be prejudiced by reason of that adverse determination.  If a Change of Control shall have occurred, in any judicial proceeding or arbitration commenced pursuant to this Section 10, the Company shall have the burden of proving that Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.

  c.If a determination shall have been made pursuant to Section 8(b) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 10, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

  d.In the event that Indemnitee, pursuant to this Section 10, seeks a judicial adjudication of or an award in arbitration to enforce his rights under, or to recover damages for breach of, this Agreement, Indemnitee shall be entitled to recover from the Company, and shall be indemnified by the Company against, any and all expenses (of the types described in the definition of Expenses in Section 17 of this Agreement) reasonably incurred by him in such judicial adjudication or arbitration, but only if he prevails therein.  If it shall be determined in said judicial adjudication or arbitration that Indemnitee is entitled to receive part but not all of the indemnification or advancement of expenses sought, the expenses incurred by Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated.  The Company shall indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within seven (7) days after receipt by the Company of a written request therefor) advance such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advance of Expenses from the Company under this Agreement or under any directors’ or officers’ liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be.

  e.The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 10 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

  11.Non-Exclusivity; Survival of Rights; Insurance; Subrogation.

  a.The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the By-Laws, any agreement, a vote of stockholders or a resolution of directors, or otherwise.  No amendment, alteration or repeal of 

   

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  Exhibit 10.3

  this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in the Delaware General Corporation Law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Company’s By-Laws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change.  No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

  b.The Company shall use its reasonable best efforts to purchase and maintain a policy or policies of insurance with reputable insurance companies with A.M. Best ratings of “A” or better, providing Indemnitee with coverage for any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf by reason of Indemnitee’s Corporate Status, or arising out of Indemnitee’s status as such, whether or not the Company would have the power to indemnify Indemnitee against such liability.  Such insurance policies shall have coverage terms and policy limits at least as favorable to Indemnitee as the insurance coverage provided to any other director or officer of the Company.  If the Company has such insurance in effect at the time it receives from Indemnitee any notice of the commencement of an action, suit, proceeding or other claim, the Company shall give prompt notice of the commencement of such action, suit, proceeding or other claim to the insurers and take such other actions in accordance with the procedures set forth in the policy as required or appropriate to secure coverage of Indemnitee for such action, suit, proceeding or other claim.  The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such action, suit, proceeding or other claim in accordance with the terms of such policy.  The Company shall continue to provide such insurance coverage to Indemnitee for a period of at least ten (10) years after Indemnitee ceases to serve as a director or an officer or in any other Corporate Status.

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

  d.The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

   

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  Exhibit 10.3

  e.The Company’s obligation to indemnify or advance expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of expenses from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.

  12.Duration of Agreement.

  a.This Agreement shall continue until and terminate upon the later of:  (i) 10 years after the date that Indemnitee shall have ceased to serve as a director and/or executive officer of the Company (or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which Indemnitee served at the request of the Company); or (ii) the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advancement of expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 10 of this Agreement relating thereto.  

  b.This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries) and Indemnitee.  Indemnitee specifically acknowledges that Indemnitee’s employment with the Company (or any of its subsidiaries), if any, is at will, and Indemnitee may be discharged at any time for any reason, with or without cause, except as may be otherwise provided in any written employment contract between Indemnitee and the Company (or any of its subsidiaries), other applicable formal severance policies duly adopted by the Board, or, with respect to service as a director or officer of the Company, by the Company’s Certificate of Incorporation, By-laws, and Delaware General Corporation Law.  The foregoing notwithstanding, this Agreement shall continue in force as provided above after Indemnitee has ceased to serve as a director and/or executive officer of the Company.

  c.This Agreement shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and his heirs, executors and administrators.

  13.Severability.  If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:  (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be 

   

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  Exhibit 10.3

  invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

  14.Exception to Right of Indemnification or Advancement of Expenses.  Except as provided in Section 6(a) of this Agreement, Indemnitee shall not be entitled to indemnification or advancement of Expenses under this Agreement with respect to any Proceeding brought by Indemnitee (other than a Proceeding by Indemnitee to enforce his rights under this Agreement), or any claim therein, unless the bringing of such Proceeding or making of such claim shall have been approved by the Board of Directors.

  15.Identical Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.  Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

  16.Headings.  The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

  17.Definitions.  For purposes of this Agreement:

  a.“Change in Control” means:

  i.The acquisition by any person, corporation, partnership, limited liability company or other entity (a “Person”, which term shall include a group within the meaning of section 13(d) of the Securities Exchange Act of 1934 (the “Exchange Act”)) of ultimate beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act), directly or indirectly of 30% or more of either (i) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control:  (i) any such acquisition directly from the Company, except for acquisition of securities upon conversion of other securities of the Company (ii) any such acquisition by the Company, (iii) any such acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (iv) any such acquisition by any corporation pursuant to a transaction which complies with clauses (1), (2) and (3) of subsection (iii) of this Section 17(a); or

  ii.Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director 

   

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  Exhibit 10.3

  subsequent to the date hereof whose election, or nomination for election, by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or

  iii.Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company in one or a series of transactions (a “Business Combination”), in each case, unless, following such Business Combination, (1) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, immediately following such Business Combination more than 50% of, respectively, the outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and outstanding Company Voting Securities, as the case may be, (2) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) ultimately beneficially owns, directly or indirectly, 30% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (3) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or

  iv.approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

  b.“Corporate Status” describes the status of a person who is or was a director, officer, employee, fiduciary or agent of the Company or of any other corporation, 

   

  	12

  

  Exhibit 10.3

  partnership, joint venture, trust, employee benefit plan or other enterprise which such person is or was serving at the request of the Company.

  c.“Disinterested Director” means a director of the company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee and does not otherwise have an interest materially adverse to any interest of the Indemnitee.

  d.“Effective Date” means [________], 2022.

  e.“Expenses” shall mean all direct and indirect costs, fees and expenses of any type or nature whatsoever and shall specifically include, without limitation, all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees and costs of experts, witness fees and costs, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness, in, or otherwise participating in, a Proceeding or an appeal resulting from a Proceeding, including, but not limited to, the premium for appeal bonds, attachment bonds or similar bonds and all interest, assessments and other charges paid or payable in connection with or in respect of any such Expenses, and shall also specifically include, without limitation, all reasonable attorneys’ fees and all other expenses incurred by or on behalf of Indemnitee in connection with preparing and submitting any requests or statements for indemnification, advancement, contribution or any other right provided by this Agreement.  Expenses, however, shall not include amounts of judgments or fines against Indemnitee.

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

  g.“Proceeding” includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, 

   

  	13

  

  Exhibit 10.3

  whether brought by or in the right of the Company or otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee was, is, may be or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was a director or officer of the  Company, by reason of any action taken by him or of any inaction on his part while acting as director or officer of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise; in each case whether or not he is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification or advancement of expenses can be provided under this Agreement; except one (i) initiated by an Indemnitee pursuant to Section 10 of this Agreement to enforce his right under this Agreement or (ii) pending on or before the Effective Date.

  18.Enforcement.

  a.The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve as a director and/or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director and/or officer of the Company.

  b.This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

  19.Modification and Waiver.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

  20.Notice by Indemnitee.  Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder.  Any failure by Indemnitee to notify the Company will relieve the Company of its advancement or indemnification obligations under this Agreement only to the extent the Company can establish that such omission to notify resulted in actual and material prejudice to it which cannot be reversed or otherwise eliminated without any material negative effect on the Company, and the omission to notify the Company will, in any event, not relieve the Company from any liability which it may have to indemnify Indemnitee otherwise than under this Agreement.  If, at the time of receipt of any such notice, the Company has director and officer insurance policies in effect, the Company will promptly notify the relevant insurers in accordance with the procedures and requirements of such policies.

   

  	14

  

  Exhibit 10.3

  21.Notices.  All notices, requests, demands or other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been direct, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed:

  a.If to Indemnitee to:

  [INDEMNITEE’S NAME]

  [ADDRESS]

   

   

  b.If to the Company to:

  30 Frank Lloyd Wright Drive

  Ann Arbor, Michigan  48106

  Attention:  General Counsel

   

  or to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

   

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

  23.Governing Law; Submission to Jurisdiction; Appointment of Agent for Service of Process.  This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules.  Except with respect to any arbitration commenced by Indemnitee pursuant to Section 10(a) of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not a resident of the State of Delaware, irrevocably [_______________] as its agent in the State of Delaware for acceptance of legal process in connection with any such action or proceeding against such party with the same legal 

   

  	15

  

  Exhibit 10.3

  force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or otherwise inconvenient forum.

  24.Miscellaneous.  Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate.

  [Remainder of Page Intentionally Blank]

   

   

  	16

  

  Exhibit 10.3

  IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written.

   

  	Domino’s Pizza, Inc.

   

   

   

  	By:____________________________

  	Name:

  Title:

   

   

  	INDEMNITEE:

   

   

   

  	_______________________________

  	Name:

  	Title:

   

  	17Exhibit 10.1

 

EXECUTION VERSION

 

AGREEMENT

 

This Agreement (this “Agreement”)
is made and entered into as of July 20, 2022 by and among LivePerson, Inc. (the “Company”) and the entities and natural
persons set forth in the signature pages hereto (collectively, “Starboard”) (each of the Company and Starboard, a “Party”
to this Agreement, and collectively, the “Parties”).

 

RECITALS

 

WHEREAS, the Company and Starboard have engaged
in various discussions and communications concerning the Company;

 

WHEREAS, as of the date hereof, Starboard has
a beneficial ownership (as determined under Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended, or the rules
or regulations promulgated thereunder (the “Exchange Act”)) interest in the Common Stock, $0.001 par value per share,
of the Company (Common Stock”) totaling, in the aggregate, 7,005,000 shares, or approximately 9.4% of the Common Stock issued
and outstanding on the date hereof;

 

WHEREAS, on February 25, 2022,
Starboard Value and Opportunity Master Fund Ltd, a Starboard party, delivered notice (the “Nomination Notice”) of its
intent to nominate four candidates for election to the Board of Directors of the Company (the “Board”) at the Company’s
2022 Annual Meeting of Stockholders (the “2022 Annual Meeting”); and

 

WHEREAS, as of the date hereof, the Company and
Starboard have determined to come to an agreement with respect to the composition of the Board and certain other matters, as provided
in this Agreement.

 

NOW, THEREFORE, in consideration of the foregoing
premises and the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties, intending to be legally bound hereby, agree as follows:

 

1. Board
Composition and Related Agreements.

 

(a) Board
Composition.

 

(i) Starboard
Director.

 

		(A)	The Company agrees that the Board and all applicable committees of the Board shall take all necessary
actions to appoint one candidate selected pursuant to the process set forth in this Section 1(a)(i) as a Class I director
(the “Starboard Director”).

 

     

     

    

 

		(B)	Promptly following the execution of this Agreement, (1) Starboard shall identify in writing to the Company
one director candidate who is among the candidates named in the Nomination Notice that fulfills the Independence Requirement (as defined
below), whose appointment to the Board shall be subject to approval by the Board (such approval not to be unreasonably withheld, and for
which material issues or conflicts of interest constitute good reason); provided, however, that the Board may only reject
a proposed Starboard Director to the extent that the Board identifies any material issue(s) or conflict of interest(s) with respect to
any such candidate (the “Board Approval Requirement”); (2) if the director candidate identified in clause (1)
is not approved by the Board, Starboard shall identify one Qualified Candidate (as defined below) in writing to the Company, whose appointment
to the Board shall be subject to the Board Approval Requirement; (3) if the director candidate identified in clause (2) is
not approved by the Board, Starboard shall identify one Qualified Candidate in writing to the Company, whose appointment to the Board
shall be subject to the Board Approval Requirement; and (4) if the director candidate identified in clause (3) is not
approved by the Board, subsequent candidates identified by Starboard shall be either (x) a Qualified Candidate, except that any such Qualified
Candidate need not meet the Leadership Requirement (as defined below) for purposes of this clause (4) so long as such director
candidate has relevant financial and business experience to be a director of the Company or (y) a partner, officer or senior employee
of Starboard (a “Starboard Representative”) that meets the Applicable Law Independence Requirement (as defined below)
and the Board Experience Requirement (as defined below) and has relevant financial and business experience to be a director of the Company,
in each case whose appointment to the Board shall be subject to the Board Approval Requirement. Starboard shall not identify any candidate
who to its knowledge would not satisfy the Board Approval Requirement. If approval is withheld on any director candidate, the Company
shall promptly notify Starboard in writing of the material issue(s) and/or conflicts of interest(s) that led to the Board’s decision
to withhold approval of such director candidate.

 

		(C)	Any director candidate identified by Starboard pursuant to Section 1(a)(i)(B) shall provide
the Company with (1) a completed director questionnaire in the form provided by the Company, (2) any information reasonably requested
by the Company that is required to be disclosed by directors or director candidates of the Company in proxy statements or other filings
under applicable law or stock exchange regulations or information as may be reasonably requested by the Company that is required of all
new non-management directors of the Company in connection with assessing eligibility, independence and other criteria applicable to new
director candidates or satisfying compliance and legal obligations, and (3) any other reasonable and customary director onboarding
documentation applicable to director candidates of the Company, including consent to the Company’s customary background check, in
each case in the same forms as required by the Company in connection with the appointment or election of all new non-management Board
members (each of clauses (1)–(3), the “Onboarding Documentation”). Such director candidates shall make themselves
available to the Board for interviews upon request. The Board shall use its reasonable efforts to notify Starboard whether any director
candidate meets the Board Approval Requirement within 10 business days after (x) such candidate has submitted to the Company completed
Onboarding Documentation and (y) representatives of the Board have conducted customary interview(s) of such candidate, if such interviews
are requested by the Board. The Company shall use its reasonable efforts to conduct any such interview(s) as promptly as practicable,
but in any case, assuming reasonable availability of the candidate, within 10 business days after Starboard’s submission of such
candidate. In the event that the Starboard Director (or any Replacement Director (as defined below)) is a Starboard Representative, prior
to and as a condition to his or her appointment to the Board, such person shall execute and deliver to the Company a customary irrevocable
resignation letter pursuant to which the Starboard Representative shall resign from the Board and all applicable committees thereof if
Starboard fails to satisfy the Minimum Ownership Threshold (as defined below) following the date of this Agreement. Starboard shall promptly
(and in any event within five business days) inform the Company in writing if Starboard fails to satisfy the Minimum Ownership Threshold
at any time.

 

    2

     

    

 

		(D)	As used in this Agreement, “Qualified Candidate” means an individual who (1) qualifies
as an “independent director” under the applicable rules of the U.S. Securities and Exchange Commission (the “SEC”)
and the rules of any stock exchange on which the Company is traded (the “Applicable Law Independence Requirement”);
(2) is independent of Starboard; provided that (x) the nomination by Starboard of such person to serve on the board of directors
of any other company shall not (in and of itself) cause such person to not be deemed independent of Starboard and (y) any employee, partner
or Affiliate (as defined below), whether past or present, or any limited partner or member or person who is otherwise invested in any
securities of Starboard or any of its Affiliates or Associates shall be deemed not independent of Starboard (the “Independence
Requirement”); (3) has served, or currently serves, as a director of a company with a class of equity securities registered
under Section 12 of the Exchange Act (the “Board Experience Requirement”); (4) does not have any undisclosed agreements
with Starboard or any of its Affiliates or Associates regarding such person’s service as a director on the Board; and (5) has held,
or currently holds, a leadership role at an operating company in the technology industry (the “Leadership Requirement”).

 

		(E)	The Company agrees to use its reasonable efforts to hold the 2022 Annual Meeting no later than August
4, 2022, subject to any delay necessitated by compliance with applicable law or regulatory or judicial or stock exchange order, published
interpretation or requirement.

 

(ii) The
Company agrees that the Board and all applicable committees of the Board shall take all necessary actions to appoint one director candidate
selected pursuant to the process set forth in this Section 1(a)(ii) as a Class I director (the “Additional Independent
Director” and together with the Starboard Director, the “New Directors”). Promptly following the execution
of this Agreement, the Company shall identify in writing to Starboard a director candidate from among persons whose names and biographies
were provided to Starboard prior to the execution of this Agreement (the “Additional Independent Director Pool”). Starboard
may conduct an interview with such director candidate and provide its views on such director candidate to the Nominating and Corporate
Governance Committee, which views shall be considered by the Board in good faith prior to the appointment of the director candidate. If
the Company does not appoint such director candidate, it shall identify additional individuals to Starboard from the Additional Independent
Director Pool, subject to the same requirements as set forth in the preceding sentences, until a director candidate is appointed as the
Additional Independent Director. In the event that the Additional Independent Director has not been appointed on or before August 15,
2022, the Company may propose to add one or more additional independent director candidates to the Additional Independent Director Pool
to replace candidate(s) included in the Additional Independent Director Pool who become unavailable to be appointed to the Board; provided
that (A) such proposed replacement candidate(s) shall have similar qualifications as the original candidate(s) that is not available and
(B) any such addition to the Additional Independent Director Pool shall be subject to good faith approval by Starboard. Promptly following
their selection in accordance with Section 1(a)(i) and this Section 1(a)(ii), but no earlier than the conclusion of
the 2022 Annual Meeting, the Board and all applicable committees of the Board shall take all necessary actions (including by increasing
the size of the Board) to simultaneously appoint the Starboard Director and the Additional Independent Director to the Board.

 

(iii) The
Company agrees that Peter Block shall depart the Board no later than the conclusion of the 2022 Annual Meeting. During the Standstill
Period (as defined below), the vacancy created by such departure may only be filled (A) after the New Directors have been appointed to
the Board and (B) by an independent director candidate identified by the Company, whose appointment shall be subject to approval by Starboard
(to be determined in good faith). Starboard may also privately recommend director candidates for the Company’s good faith consideration.
The Company may continue to identify independent director candidates to fill such vacancy based on the mutual agreement of the Parties
pursuant to this Section 1(a)(iii); provided it is understood that neither Party is required to mutually agree to a candidate
pursuant to this Section 1(a)(iii). Such director appointed pursuant to this Section 1(a)(iii) is referred to herein
as the “Vacancy Appointee”, and together with the New Directors as the “Agreed Appointees”.

 

    3

     

    

 

(iv) During
the period commencing on the date of this Agreement through the expiration of the Standstill Period, the size of the Board shall not be
increased to more than nine directors without Starboard’s prior written consent; provided, however, for the avoidance
of doubt, that the nine-member size of the Board shall include the vacancy resulting from the departure of the director named in Section 1(a)(iii)
until such vacancy is filled by the Vacancy Appointee pursuant to the process set forth therein.

 

(v) The
Company agrees that the Board, all applicable committees, and its directors shall take all necessary actions promptly following the conclusion
of the 2022 Annual Meeting and the appointment of the director pursuant to Section 1(a)(iii) to result in the Board’s
Class II being composed of three directors, none of whom is an Agreed Appointee; provided, however, for the avoidance
of doubt, that if for any reason the Vacancy Appointee has not been appointed to the Board prior to the expiration of the Standstill Period,
the Board, all applicable committees and its directors shall ensure that the Board’s Class II is not comprised of any New Director.

 

(vi) If
the Starboard Director (or any Replacement Director) is unable or unwilling to serve as a director and ceases to be a director, resigns
as a director or is removed as a director, or for any other reason fails to serve or is not serving as a director at any time prior to
the expiration of the Standstill Period, Starboard shall have the right to recommend a replacement for the Starboard Director in accordance
with this Section 1(a)(vi) (any such person, when appointed to the Board, shall be referred to as a “Replacement
Director”). Any Replacement Director must (A) be reasonably acceptable to the Board (such acceptance not to be unreasonably
withheld), (B) meet the Applicable Law Independence Requirement, (C) have the relevant financial and business experience to be a director
of the Company, (D) satisfy the Company’s publicly disclosed guidelines, policies and criteria with respect to service on the Board,
and (E) in the case of a Replacement Director who is replacing a Starboard Director who is not a Starboard Representative (or any Replacement
Director thereof), meet the Independence Requirement. Any Replacement Director who is replacing a Starboard Director who is a Starboard
Representative (or any Replacement Director thereof) and is a Starboard Representative will be approved and appointed to the Board no
later than five business days following the submission of the Onboarding Documentation so long as such Replacement Director has the relevant
financial and business experience to be a director of the Company, satisfies the immediately preceding clause (D), and meets the Applicable
Law Independence Requirement. The Nominating and Corporate Governance Committee shall make its recommendation (which it shall undertake
reasonably and in good faith) regarding whether any director candidate (other than a Replacement Director who is replacing a Starboard
Director who is a Starboard Representative and is a Starboard Representative, who is covered by the prior sentence) meets the foregoing
criteria within ten business days after the date that (1) such director candidate has provided to the Company the Onboarding Documentation
and (2) members of the Board have conducted customary interview(s) of such director candidate, if such interviews are requested by the
Board or the Nominating and Corporate Governance Committee. The Company shall use its reasonable best efforts to conduct the background
check and any interview(s) contemplated by this Section 1(a)(vi) as promptly as practicable, but in any case with respect
to the interview(s), assuming reasonable availability of the director candidate, within ten business days after Starboard’s recommendation
of such director candidate. In the event that the Nominating and Corporate Governance Committee does not recommend a director candidate,
Starboard shall have the right to recommend additional person(s) as a Replacement Director, whose appointment shall be subject to the
Nominating and Corporate Governance Committee recommending such person and the Board appointing such person in accordance with the procedures
described in this Section 1(a)(vi). In the event that the Nominating and Corporate Governance Committee recommends a director candidate,
the Board shall act on the appointment of such candidate to the Board no later than five business days after the date of such recommendation;
provided, however, that if the Board does not appoint such candidate to the Board pursuant to this Section 1(a)(vi),
the Parties shall continue to follow the procedures of this Section 1(a)(vi) until a Replacement Director is appointed to
the Board. Subject to the rules of any stock exchange on which the Company is traded and applicable law, upon a Replacement Director’s
appointment to the Board, the Board and all applicable committees of the Board shall take all necessary actions to appoint such Replacement
Director to any committee of the Board of which the replaced director was a member immediately prior to such director’s departure.
Subject to the rules of any stock exchange on which the Company is traded and applicable law, until such time as any Replacement Director
is appointed to any applicable committee of the Board, another then-existing director designated by Starboard will serve as an interim
member of such applicable committee (subject to such director’s willingness to serve on such committee and provided that such director
is qualified to serve on such committee).

 

    4

     

    

 

(vii) If
the Additional Independent Director or the Vacancy Appointee (or any replacement thereof appointed pursuant to this section) is unable
or unwilling to serve as a director and ceases to be a director, resigns as a director or is removed as a director, or for any other reason
fails to serve or is not serving as a director at any time prior to the expiration of the Standstill Period, the Parties shall follow
the procedures of Section 1(a)(ii) or Section 1(a)(iii), respectively, until a candidate is selected in accordance
with the terms of such provisions and is appointed to the Board as a replacement for the Additional Independent Director or the Vacancy
Appointee, as applicable (upon such replacement’s appointment to the Board, such replacement shall become the Additional Independent
Director or the Vacancy Appointee, as applicable, for purposes of this Agreement). Any replacement for the Additional Independent Director
may be appointed from the Additional Independent Director Pool without further approval by Starboard, or may be appointed from outside
the Additional Independent Director Pool so long as such director candidate has similar qualifications to any director candidate included
in the Additional Independent Director Pool, subject to Starboard’s good faith approval (such approval not to be unreasonably withheld).
If Starboard does not approve a director candidate pursuant to the immediately preceding sentence, it shall promptly notify the Company
in writing of its non-approval stating the reasons therefor, and the Company shall have the right to continue proposing candidates in
accordance with the foregoing. Subject to the rules of any stock exchange on which the Company is traded and applicable law, upon such
replacement’s appointment to the Board, the Board and all applicable committees of the Board shall take all necessary actions to
appoint such replacement to any applicable committee of the Board of which the replaced director was a member immediately prior to such
director’s departure.

 

(b) Board
Committees.

 

(i) Immediately
upon the appointment of the two New Directors, the Board and all applicable committees of the Board shall take all necessary actions to
(A) form an Operating Committee of the Board (the “Operating Committee”), which shall consist of no more than
four directors and shall be charged with working with the Company’s Chief Executive Officer and management to identify and recommend
opportunities for further improvement in growth and margin performance, (B) effective upon their respective appointments to the Board,
appoint the two New Directors to serve as members of the Operating Committee and (C) appoint one of the two New Directors to be the
Chairperson of the Operating Committee.

 

(ii) The
Board and all applicable committees of the Board shall give the Agreed Appointees the same due consideration for membership to each committee
of the Board as any other independent director; provided, however, that each of the Agreed Appointees shall be appointed
to at least one committee of the Board; provided, further, that the Starboard Director shall be appointed to each of the
Nominating and Corporate Governance Committee and the Compensation Committee.

 

(c) Additional
Agreements.

 

(i) Starboard
Value and Opportunity Master Fund Ltd hereby irrevocably withdraws the Nomination Notice.

 

(ii) Effective
as of the date hereof, the Board and all applicable committees of the Board shall take all necessary actions to appoint Jill Layfield
as the Lead Independent Director of the Board.

 

(iii) Starboard
shall comply, and shall cause each of its controlled Affiliates and Associates to comply, with the terms of this Agreement and shall be
responsible for any breach of this Agreement by any such controlled Affiliate or Associate. As used in this Agreement, the terms “Affiliate”
and “Associate” shall have the respective meanings set forth in Rule 12b-2 promulgated by the Securities and Exchange
Commission under the Exchange Act and shall include all persons or entities that at any time during the term of this Agreement become
Affiliates or Associates of any person or entity referred to in this Agreement.

 

    5

     

    

 

(iv) During
the Standstill Period, except as otherwise provided herein, Starboard shall not, and shall cause each of its controlled Affiliates and
Associates not to, directly or indirectly, (A) nominate or recommend for nomination any person for election at any annual or special meetings
of the Company’s stockholders or actions by written consent of the Company’s stockholders (each, a “Stockholder Meeting”),
(B) submit any proposal for consideration at, or bring any other business before, any Stockholder Meeting, or (C) initiate, encourage
or participate in any “vote no,” “withhold” or similar campaign with respect to any Stockholder Meeting. Starboard
shall not publicly or privately encourage or support any other stockholder, person or entity to take any of the actions described in this
Section 1(c)(iv).

 

(v) During
the Standstill Period, Starboard shall appear in person or by proxy at the 2022 Annual Meeting and vote all shares of Common Stock beneficially
owned by Starboard at the 2022 Annual Meeting as of the record date (A) in favor of all of the Company’s nominees, (B) in favor
of the ratification of the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal
year 2022, (C) in accordance with the Board’s recommendation with respect to the Company’s “say-on-pay” proposal
and (D) in accordance with the Board’s recommendation with respect to any other Company proposal or stockholder proposal presented
at the 2022 Annual Meeting; provided, however, that in the event Institutional Shareholder Services Inc. (“ISS”)
or Glass Lewis & Co., LLC (“Glass Lewis”) recommends otherwise with respect to the Company’s “say-on-pay”
proposal or any other Company proposal or stockholder proposal presented at the 2022 Annual Meeting (other than proposals relating to
the election or removal of directors), Starboard shall be permitted to vote in accordance with the ISS or Glass Lewis recommendation.
Starboard further agrees that it will (x) appear in person or by proxy at any special meeting of the Company’s stockholders
held during the Standstill Period and vote all shares of Common Stock beneficially owned by Starboard as of the record date at such meeting,
and (y) execute valid written consents with respect to all shares of Common Stock beneficially owned by Starboard as of the record date
in any stockholder action by written consent during the Standstill Period, in the case of each of (x) and (y) in accordance with the Board’s
recommendation on any proposal relating to the appointment, election or removal of director(s). Notwithstanding the foregoing, Starboard
shall be permitted to vote in its discretion on any proposal of the Company submitted to stockholders at a Stockholder Meeting in respect
of any extraordinary transaction, including any merger, acquisition, amalgamation, tender offer, exchange offer, recapitalization, restructuring,
disposition, distribution, spin-off, asset sale, joint venture or other business combination involving the Company or any of its subsidiaries
or that would result in (i) any person becoming a beneficial owner, directly or indirectly, of securities of the Company representing
more than fifty percent (50%) of the equity interests and voting power of the Company’s then-outstanding equity securities or (ii)
the Company entering into a stock-for-stock transaction whereby immediately after the consummation of the transaction the Company’s
stockholders retain less than fifty percent (50%) of the equity interests and voting power of the surviving entity’s then-outstanding
equity securities.

 

(vi) Starboard
acknowledges that all members of the Board are (A) governed by, and required to comply with, all policies, procedures, codes, rules, standards
and guidelines applicable to all members of the Board and (B) required to keep confidential all confidential information of the Company
and, without prior written consent of the Company, not disclose to any third party (including Starboard, except as permitted by Section
13) any discussions, matters or materials considered in meetings of the Board or Board committees.

 

(vii) Starboard
shall have rights pursuant to Section 1(a)(iii), Section 1(a)(vi) and Section 1(a)(vii) only if as of such
time it beneficially owns (as determined under Rule 13d-3 promulgated under the Exchange Act) the aggregate of at least the lesser of
3.0% of the Company’s then-outstanding Common Stock and 2,244,487 shares of Common Stock (subject to adjustment for stock splits,
reclassifications, combinations and similar adjustments) (the “Minimum Ownership Threshold”).

 

    6

     

    

 

(viii) The
Company agrees that the Board and all applicable committees of the Board shall, to the extent that the Board and such committees have
such authority and are entitled to so determine, take all necessary actions, effective no later than immediately following the appointment
of each Agreed Appointee, to determine, in connection with his or her initial appointment as a director that such Agreed Appointee is
deemed to be (A) a member of the “Incumbent Board” or “Continuing Director” (as such term may be defined in the
definition of “Change in Control” or any similar term under the Company’s incentive plans, options plans, deferred compensation
plans, employment agreements, severance plans, retention plans, loan agreements, or indentures, or any other related plans or agreements
that refer to any such plan or agreement’s definition of “Change in Control” or any similar term) and (B) a member of
the Board as of the beginning of any applicable measurement period for the purposes of the definition of “Change in Control”
or any similar term under such incentive plans, options plans, deferred compensation plans, employment agreements severance plans, retention
plans, loan agreements or indentures of the Company, or any other related plans or agreements that refer to any such plan or agreement’s
definition of “Change in Control” or any similar term.

 

2. Standstill
Provisions.

 

(a) Starboard
agrees that, from the date of this Agreement until the earlier of (x) the date that is 15 business days prior to the deadline for the
submission of stockholder nominations for the Company’s 2023 Annual Meeting of Stockholders (the “2023 Annual Meeting”)
pursuant to the By-Laws, or (y) the date that is 100 days prior to the first anniversary of the 2022 Annual Meeting (the “Standstill
Period”), Starboard shall not, and shall cause each of its controlled Affiliates and Associates not to, in each case directly
or indirectly, in any manner:

 

(i) engage
in any solicitation or become a “participant” in a “solicitation” (as such terms are defined in Regulation 14A
under the Exchange Act) of proxies or consents (including any solicitation of consents that seeks to call a special meeting of stockholders
of the Company), in each case with respect to any securities of the Company;

 

(ii) form,
join, or in any way participate in any “group” (within the meaning of Section 13(d)(3) of the Exchange Act) with respect to
shares of Common Stock (other than a “group” that includes all or some of the members of Starboard, but does not include any
other entities or persons that are not members of Starboard as of the date hereof); provided, however, that nothing herein
shall limit the ability of an Affiliate of Starboard to join the “group” following the execution of this Agreement so long
as any such Affiliate agrees in writing to be bound by the terms and conditions of this Agreement;

 

(iii) deposit
any shares of Common Stock in any voting trust or subject any shares of Common Stock to any arrangement or agreement with respect to the
voting of any shares of Common Stock, other than any such voting trust, arrangement or agreement solely among the members of Starboard
and otherwise in accordance with this Agreement;

 

(iv) seek
or submit, or encourage any person or entity to seek or submit, nomination(s) in furtherance of a “contested solicitation”
for the appointment, election or removal of directors with respect to the Company or seek, or knowingly encourage or take any other action
with respect to the appointment, election or removal of any directors; provided, however, that nothing in this Agreement
shall prevent Starboard or its Affiliates or Associates from taking actions in furtherance of identifying director candidates in connection
with the 2023 Annual Meeting so long as such actions do not create a public disclosure obligation for Starboard or the Company, are not
publicly disclosed by Starboard or its representatives, Affiliates or Associates, and are undertaken on a basis reasonably designed to
be confidential and in accordance in all material respects with Starboard’s normal practices in the circumstances;

 

    7

     

    

 

(v) (A)
make any proposal for consideration by stockholders at a Stockholder Meeting, (B) make any offer or proposal (with or without conditions)
with respect to any merger, takeover offer, tender (or exchange) offer, acquisition, recapitalization, restructuring, disposition or other
business combination involving the Company or any of its subsidiaries, (C) solicit a third party to make an offer or proposal (with or
without conditions) with respect to any merger, takeover offer, tender (or exchange) offer, acquisition, recapitalization, restructuring,
disposition or other business combination involving the Company or any of its subsidiaries, or publicly encourage, initiate or support
any third party in making such an offer or proposal, (D) publicly comment on any third party proposal regarding any merger, takeover offer,
tender (or exchange) offer, acquisition, recapitalization, restructuring, disposition, or other business combination involving the Company
or any of its subsidiaries by such third party (provided that this clause (D) shall not prevent such public comment after such proposal
has become generally known to the public other than as a result of a disclosure by Starboard) or (E) call or seek to call a special meeting
of stockholders, or initiate or participate in any stockholder action by written consent;

 

(vi) seek,
alone or in concert with others, representation on the Board, except as specifically provided in Section 1;

 

(vii) advise,
encourage, support or influence any person or entity with respect to the voting or disposition of any securities of the Company at any
Stockholder Meeting, except as specifically provided in Section 1; or

 

(viii) make
any request or submit any proposal to amend the terms of this Agreement other than through non-public communications with the Company
or the Board that would not be reasonably determined to trigger public disclosure obligations for any Party.

 

(b) Except
as expressly provided in Section 1 or Section 2(a), Starboard shall be entitled to (i) vote the shares of Common Stock that
it beneficially owns as it determines in its sole discretion and (ii) disclose, publicly or otherwise, how it intends to vote or act with
respect to any securities of the Company, any stockholder proposal or other matter to be voted on by the stockholders of the Company and
the reasons therefor (in each case, subject to Section 1(c)(v) and
Section 12).

 

(c) Nothing
in Section 2(a) shall be deemed to limit the exercise in good faith by the Starboard Director (or any Replacement Director) of
such person’s fiduciary duties solely in such person’s capacity as a director of the Company.

 

3. Representations
and Warranties of the Company. The Company represents and warrants to Starboard that (a) the Company has the corporate power and authority
to execute this Agreement and to bind it thereto, (b) this Agreement has been duly and validly authorized, executed and delivered by the
Company, and assuming due execution by each counterparty hereto, constitutes a valid and binding obligation and agreement of the Company,
and is enforceable against the Company in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject
to general equity principles, (c) the Board is composed of seven directors and there are no vacancies on the Board and (d) the execution,
delivery and performance of this Agreement by the Company does not and will not (i) violate or conflict with any law, rule, regulation,
order, judgment or decree applicable to the Company, or (ii) result in any breach or violation of or constitute a default under or pursuant
to (or an event which with notice or lapse of time or both would constitute such a breach, violation or default), or result in the loss
of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document
or material agreement to which the Company is a party or by which it is bound.

 

    8

     

    

 

4. Representations
and Warranties of Starboard. Starboard represents and warrants to the Company that (a) the authorized signatory of Starboard set forth
on the signature page hereto has the power and authority to execute this Agreement and any other documents or agreements to be entered
into in connection with this Agreement and to bind Starboard thereto, (b) this Agreement has been duly authorized, executed and delivered
by Starboard, and assuming due execution by each counterparty hereto, is a valid and binding obligation of Starboard, enforceable against
Starboard in accordance with its terms except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity principles,
(c) the execution of this Agreement, the consummation of any of the transactions contemplated hereby, and the fulfillment of the terms
hereof, in each case in accordance with the terms hereof, will not conflict with, or result in a breach or violation of the organizational
documents of Starboard as currently in effect, (d) the execution, delivery and performance of this Agreement by Starboard does not and
will not (i) violate or conflict with any law, rule, regulation, order, judgment or decree applicable to Starboard, or (ii) result in
any breach or violation of or constitute a default under or pursuant to (or an event which with notice or lapse of time or both would
constitute such a breach, violation or default), or result in the loss of a material benefit under, or give any right of termination,
amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement
to which such member is a party or by which it is bound, (e) as of the date of this Agreement, Starboard beneficially owns 7,005,000 shares
of Common Stock, (f) as of the date of this Agreement, and except as set forth in clause (e) above, Starboard does not currently have,
and does not currently have any right to acquire, any interest in any securities or assets of the Company or its Affiliates (or any rights,
options or other securities convertible into or exercisable or exchangeable (whether or not convertible, exercisable or exchangeable immediately
or only after the passage of time or the occurrence of a specified event) for such securities or assets or any obligations measured by
the price or value of any securities of the Company or any of its controlled Affiliates, including any swaps or other derivative arrangements
designed to produce economic benefits and risks that correspond to the ownership of shares of Common Stock or any other securities of
the Company, whether or not any of the foregoing would give rise to beneficial ownership (as determined under Rule 13d-3 promulgated under
the Exchange Act), and whether or not to be settled by delivery of shares of Common Stock or any other class or series of the Company’s
stock, payment of cash or by other consideration, and without regard to any short position under any such contract or arrangement), and
(g) Starboard has not (except as disclosed in the Nomination Notice) agreed to, directly or indirectly, compensate or agree to compensate,
and will not, directly or indirectly, compensate or agree to compensate, any Starboard Director (or any Replacement Director) for serving
as a nominee or director, with any cash, securities (including any rights or options convertible into or exercisable for or exchangeable
into securities or any profit sharing agreement or arrangement), or other form of compensation directly or indirectly related to the Company
or its securities. For the avoidance of doubt, nothing herein shall prohibit Starboard from compensating or agreeing to compensate any
person for his or her respective service as a nominee or director of any other company.

 

5. Press
Release. Promptly following the execution of this Agreement, the Company and Starboard shall issue a mutually agreeable press release
(the “Press Release”) announcing certain terms of this Agreement in the form attached hereto as Exhibit A. Prior
to the issuance of the Press Release and subject to the terms of this Agreement, neither the Company (including the Board and any committee
thereof) nor Starboard shall issue any press release or make any public announcement regarding this Agreement or the matters contemplated
hereby without the prior written consent of the other Party, except as required by law or applicable stock exchange listing rules. During
the Standstill Period, neither the Company nor Starboard shall make any public announcement or statement that is inconsistent with or
contrary to the terms of this Agreement, except as required by law or applicable stock exchange listing rules or with the prior written
consent of the other party.

 

6. Specific
Performance. Each of Starboard, on the one hand, and the Company, on the other hand, acknowledges and agrees that irreparable injury
to the other Party hereto would occur in the event any of the provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached and that such injury would not be adequately compensable by the remedies available at law (including
the payment of money damages). It is accordingly agreed that Starboard, on the one hand, and the Company, on the other hand (the “Moving
Party”), shall each be entitled to specific enforcement of, and injunctive relief to prevent any violation of the terms hereof,
and the other Party hereto shall not take action, directly or indirectly, in opposition to the Moving Party seeking such relief on the
grounds that any other remedy or relief is available at law or in equity. This Section 6 is not the exclusive remedy for any violation
of this Agreement.

 

    9

     

    

 

7. Expenses.
The Company shall reimburse Starboard for its reasonable, documented out-of-pocket fees and expenses (including legal expenses) incurred
in connection with Starboard’s involvement at the Company through the date of this Agreement, including but not limited to, its
Schedule 13D filings, its preparation and delivery of the Nomination Notice, its preparation and filing of preliminary proxy materials,
and the negotiation and execution of this Agreement; provided, however, that such reimbursement shall not exceed $1,100,000
in the aggregate.

 

8. Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect
and shall in no way be affected, impaired or invalidated. It is hereby stipulated and declared to be the intention of the Parties that
the Parties would have executed the remaining terms, provisions, covenants and restrictions without including any of such which may be
hereafter declared invalid, void or unenforceable. In addition, the Parties agree to use their best efforts to agree upon and substitute
a valid and enforceable term, provision, covenant or restriction for any of such that is held invalid, void or enforceable by a court
of competent jurisdiction.

 

9. Notices.
Any notices, consents, determinations, waivers or other communications required or permitted to be given under the terms of this Agreement
must be in writing and will be deemed to have been delivered: (a) upon receipt, when delivered personally; (b) upon confirmation of receipt,
when sent by email (provided such confirmation is not automatically generated); or (c) two business days after deposit with
a nationally recognized overnight delivery service, in each case properly addressed to the Party to receive the same. The addresses for
such communications shall be:

 

If to the Company:

 

LivePerson, Inc.

530 Seventh
Ave, Floor M1

New York, New York

		Attn:	Monica L. Greenberg,

Executive Vice President and General
Counsel

		Email:	mgreenberg@liveperson.com

 

with copies (which shall not constitute notice) to:

 

Sidley Austin LLP

1001 Page Mill Road Building 1

Palo Alto, California 94304

		Attn:	Derek Zaba

		Email:	dzaba@sidley.com

 

and

 

Sidley Austin LLP

787 Seventh Avenue

New York, NY 10019

		Attn:	Jessica Wood
		Email:	jessica.wood@sidley.com

 

If to Starboard or any member thereof:

 

Starboard Value LP

777 Third Avenue, 18th Floor

New York, NY 10017

		Attn:	
    Jeffrey C. Smith

    

	 	 	Peter A. Feld
		Email:	
    jsmith@starboardvalue.com

    

	 	 	pfeld@starboardvalue.com

 

    10

     

    

 

with a copy (which shall not constitute notice) to:

 

Olshan Frome Wolosky LLP

1325 Avenue of the Americas

New York, New York 10019

		Attn:	Steve Wolosky, Esq.
	 	 	Andrew Freedman, Esq.

		Email:	swolosky@olshanlaw.com
	 	 	afreedman@olshanlaw.com

 

10. Applicable
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without reference
to the conflict of laws principles thereof that would result in the application of the law of another jurisdiction. Each of the Parties
irrevocably agrees that any legal action or proceeding with respect to this Agreement and the rights and obligations arising hereunder,
or for recognition and enforcement of any judgment in respect of this Agreement and the rights and obligations arising hereunder brought
by the other Party hereto or its successors or assigns, shall be brought and determined exclusively in the Delaware Court of Chancery
and any state appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction
over a particular matter, any federal court within the State of Delaware). Each of the Parties hereby irrevocably submits with regard
to any such action or proceeding for itself and in respect of its property, generally and unconditionally, to the personal jurisdiction
of the aforesaid courts and agrees that it will not bring any action relating to this Agreement in any court other than the aforesaid
courts. Each of the Parties hereby irrevocably waives, and agrees not to assert in any action or proceeding with respect to this Agreement,
(a) any claim that it is not personally subject to the jurisdiction of the above-named courts for any reason, (b) any claim that it or
its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through
service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (c)
to the fullest extent permitted by applicable legal requirements, any claim that (i) the suit, action or proceeding in such court is brought
in an inconvenient forum, (ii) the venue of such suit, action or proceeding is improper or (iii) this Agreement, or the subject matter
hereof, may not be enforced in or by such courts. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
ACTION OR PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT.

 

11. Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each of the Parties and delivered to the other Party (including by means of electronic
delivery or facsimile).

 

12. Mutual
Non-Disparagement. Subject to applicable law, each of the Parties covenants and agrees that, during the Standstill Period, or if earlier,
until such time as the other Party or any of its agents, subsidiaries, Affiliates, successors, assigns, partners, members, officers, key
employees or directors shall have breached this Section 12, neither it nor any of its respective agents, subsidiaries, Affiliates,
successors, assigns, partners, members, officers, key employees or directors, shall in any way publicly criticize, disparage, call into
disrepute, or otherwise defame or slander the other Party or such other Party’s subsidiaries, Affiliates, successors, assigns, partners,
members, officers (including any current officer of a Party or a Party’s subsidiaries who no longer serves in such capacity following
the execution of this Agreement), directors (including any current officer or director of a Party or a Party’s subsidiaries who
no longer serves in such capacity following the execution of this Agreement), employees, stockholders, agents, attorneys or representatives,
or any of their businesses, products or services, in any manner that would reasonably be expected to damage the business or reputation
of such other Party, their businesses, products or services or their subsidiaries, Affiliates, successors, assigns, officers (or former
officers), directors (or former directors), employees, stockholders, agents, attorneys or representatives; provided, however,
if the Starboard Director is a Starboard Representative, any statements made by Starboard regarding the Company’s operational or
stock price performance, during periods following the date hereof, or any strategy, plans, or proposals of the Company not supported by
the Starboard Director who is a Starboard Representative that do not criticize, disparage, call into disrepute or otherwise defame or
slander any of the Company’s officers (or former officers), directors (or former directors), employees, stockholders, agents, attorneys
or representatives (“Opposition Statements”) shall not be deemed to be a breach of this Section 12 (subject
to, for the avoidance of doubt, any fiduciary duties and any obligations of confidentiality as a director that may otherwise apply) so
long as such Opposition Statement only speaks to a matter that has been made public by the Company; provided, further, that
if any Opposition Statement is made by Starboard, the Company shall be permitted to publicly respond with a statement similar in scope
to any such Opposition Statement. The restrictions in this Section  12 shall not (a) apply (i) to any compelled testimony
or production of information, whether by legal process, subpoena, or as part of a response to a request for information from any governmental
or regulatory authority with jurisdiction over the party from whom information is sought, in each case to the extent required, or (ii)
to any disclosure that such party reasonably believes, after consultation with outside counsel, to be legally required by applicable law,
rules or regulations, in each case of clause (i) or (ii), solely to the extent that such restrictions would require a violation of the
applicable requirement; or (b) prohibit any party from reporting what it reasonably believes, after consultation with outside counsel,
to be violations of federal law or regulation to any governmental authority pursuant to Section 21F of the Exchange Act or Rule 21F promulgated
thereunder.

 

    11

     

    

 

13. Confidentiality.
In the event that the Starboard Director is a Starboard Representative, the Starboard Director may provide confidential information of
the Company which he or she learns in his or her capacity as a director of the Company, including discussions or matters considered in
meetings of the Board or Board committees (collectively, “Company Confidential Information”), to Starboard, its controlled
Affiliates and Associates and legal counsel (collectively, “Starboard Confidentiality Representatives”), in each case
solely to the extent such Starboard Confidentiality Representatives need to know such information in connection with Starboard’s
investment in the Company; provided, however, that Starboard (a) shall inform such Starboard Confidentiality Representatives
of the confidential nature of any such Company Confidential Information and (b) shall cause such Starboard Confidentiality Representatives
to refrain from disclosing such Company Confidential Information to anyone (whether to any company in which Starboard has an investment
or otherwise), by any means, or otherwise from using the information in any way other than internally in connection with Starboard’s
investment in the Company. Such Starboard Director and Starboard shall not, without the prior written consent of the Company, otherwise
disclose any Company Confidential Information to any other person or entity.

 

14. Securities
Laws. Starboard acknowledges that it is aware, and will advise each of its representatives who are informed as to the matters that
are the subject of this Agreement, that the United States securities laws may prohibit any person who directly or indirectly has received
from an issuer material, non-public information from purchasing or selling securities of such issuer or from communicating such information
to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities.

 

15. Entire
Agreement; Amendment and Waiver; Successors and Assigns; Third Party Beneficiaries; Term. This Agreement (and the letter agreement
between the Parties dated as of July 19, 2022) contains the entire understanding of the Parties with respect to its subject matter.
There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings between the Parties other than
those expressly set forth herein. No modifications of this Agreement can be made except in writing signed by an authorized representative
of each of the Company and Starboard. No failure on the part of any Party to exercise, and no delay in exercising, any right, power or
remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such Party
preclude any other or further exercise thereof or the exercise of any other right, power or remedy. All remedies hereunder are cumulative
and are not exclusive of any other remedies provided by law. The terms and conditions of this Agreement shall be binding upon, inure to
the benefit of, and be enforceable by the Parties and their respective successors, heirs, executors, legal representatives, and permitted
assigns. No Party shall assign this Agreement or any rights or obligations hereunder without, with respect to Starboard, the prior written
consent of the Company, and with respect to the Company, the prior written consent of Starboard. This Agreement is solely for the benefit
of the Parties and is not enforceable by any other persons or entities. This Agreement shall terminate at the end of the Standstill Period,
except that (i) the provisions of Section 6, Sections 8 through 11 and Sections 13 through 15 shall survive
termination and (ii) no termination shall relieve either Party from liability for any breach of this Agreement prior to such termination.

 

[The remainder of this page intentionally left
blank]

 

    12

     

    

 

IN WITNESS WHEREOF, this Agreement has been duly
executed and delivered by the duly authorized signatories of the Parties as of the date hereof.

 

	 	LIVEPERSON, INC.
	 	 
	 	By: 	/s/ John Collins
	 	Name: 	John Collins
	 	Title:	CFO

 

Signature Page to Settlement Agreement

 

     

     

    

 

	STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD
	 	 
	By:	Starboard Value LP,	 
	 	its investment manager	 

 

	STARBOARD VALUE AND OPPORTUNITY S LLC
	 	 
	By:	Starboard Value LP,	 
	 	its manager	 

 

	STARBOARD VALUE AND OPPORTUNITY C LP
	 	 
	By:	Starboard Value R LP,	 
	 	its general partner	 

 

	STARBOARD VALUE R LP
	 	 
	By:	Starboard Value R GP LLC,	 
	 	its general partner	 

 

	STARBOARD VALUE AND OPPORTUNITY MASTER FUND L LP

	 	 
	By:	Starboard Value L LP,	 
	 	its general partner	 

 

	STARBOARD VALUE L LP
	 	 
	By:	Starboard Value R GP LLC,	 
	 	its general partner	 

 

	STARBOARD VALUE LP
	 	 
	By:	Starboard Value GP LLC,	 
	 	
    its general partner
	 

 

	STARBOARD VALUE GP LLC
	 	 
	By:	Starboard Principal Co LP,	 
	 	its member	 

 

	STARBOARD X MASTER FUND LTD 
	 	 
	By:	Starboard Value LP,	 
	 	its investment manager	 

 

	STARBOARD PRINCIPAL CO LP
	 	 
	By:	Starboard Principal Co GP LLC,	 
	 	its general partner	 

 

STARBOARD VALUE R GP LLC  

 

STARBOARD
PRINCIPAL CO GP LLC

 

	By:	/s/ Peter Feld	 
	Name:	Peter A. Feld	 
	Title:	Authorized Signatory	 

 

[Signature Page to Agreement]

 

     

     

    

 

Exhibit A 

 

Press Release

 

[See attached]

 

     

     

    

 

LivePerson Announces Agreement with Starboard
Value

 

NEW YORK, July [●], 2022 – LivePerson,
Inc. (NASDAQ: LPSN) (“LivePerson” or the “Company”), a global leader in Conversational AI, today announced that
it has entered into an agreement (the “Agreement”) with Starboard Value LP and certain of its affiliates (together, “Starboard”).

 

As part of the Agreement, the LivePerson Board
of Directors (the “Board”) will appoint new independent directors pursuant to a cooperative selection process, with one nominee
to be identified by Starboard and the other to be identified by LivePerson. In addition, current director Peter Block will retire from
the Board at the time of the Company’s 2022 Annual Meeting of Shareholders (the “Annual Meeting”) and pursuant to the
Agreement, the vacancy created by Block’s departure is expected to be filled by an additional independent director pursuant to a
cooperative selection process under the Agreement, after which the Board will be composed of nine members, eight of whom are independent
and more than 50% of whom have joined the Board in the past six years.

 

Current director Jill Layfield has been appointed
to the newly created role of Lead Independent Director. Layfield has been a strong voice on the Board and is an experienced operational
leader with deep expertise in consumer-facing online, offline and social commerce, digital marketing and digital product. She is known
for making high-quality customer care a key strategic differentiator and has a strong track record of using technology to transform customer
experience.

 

“For more than 25 years, we have maintained
our industry leadership in a constantly evolving market through purposeful innovation,” said Rob LoCascio, Founder, Chairman and
CEO of LivePerson. “As our company continues to evolve, adding new Board members whose skill sets complement those of our current
Board aligns with our ethos of continually evolving the business to deliver value to our shareholders, clients and employees.”

 

LoCascio continued “We are pleased to have
reached this constructive outcome with Starboard, which we believe is in the best interests of our shareholders. We look forward to welcoming
new directors to our Board to support our long term strategy, continued market leadership and execution on our plans to deliver profitable
growth and enhanced value for all shareholders.”

 

LoCascio concluded, “On behalf of the Board, management and employees, I'd like to express our deep gratitude to Peter Block for
his dedication and profound contributions to our Company. As a renowned expert in organizational development, Peter has worked with prominent
organizations around the world, and we have been very fortunate to leverage and benefit from his vast expertise in building our inclusive
culture, core values and highly engaged workforce. I know that we'll continue to build on and benefit from Peter's wisdom and insights
in the future.”

 

Peter Feld, Managing Member of Starboard,
added, “We invested in LivePerson because we believe it has market leading products that are well positioned to succeed as
customer support organizations continue to evolve. We see significant opportunity for value creation, enhanced growth and margin
expansion.”

 

Feld continued, “We appreciate the Board
working with us to reach this agreement and we look forward to working cooperatively to identify and appoint new directors to the Board.”

 

Jill Layfield, the newly appointed Lead Independent
Director said, “I look forward to continuing to work closely with my fellow directors, and welcoming the incoming new directors,
as the Board actively engages with shareholders and oversees LivePerson’s strategy and its implementation.”

 

Starboard has agreed to withdraw its director
nominations previously submitted to the Company and vote all of its shares in favor of LivePerson’s nominees at the Annual Meeting
and has entered into other customary standstill and voting commitments. The full Agreement will be filed by the Company with the U.S.
Securities and Exchange Commission as an exhibit to the Current Report on Form 8-K.

 

The Board will present its recommendations regarding
director nominees for election at the Annual Meeting in the Company's definitive proxy statement and other relevant documents to be filed
with the SEC. The date of the Annual Meeting is expected to  be August 4, 2022.

 

Additional information on LivePerson’s Board
of Directors, including videos of each of the directors highlighting their qualifications and Board roles and responsibilities, is available
at ir.liveperson.com/corporate-governance/board-of-directors.

 

     

     

    

 

About LivePerson

 

LivePerson (NASDAQ:LPSN) is a leading Conversational
AI company creating digital experiences that are Curiously Human. Every person is unique, and our technology makes it possible for companies
to treat their audiences that way at scale. Our customers, including leading brands like HSBC, Orange, and GM Financial, can now meet
consumers where they are across social media, messaging, email, voice, and more. Nearly a billion conversational interactions are powered
by our Conversational Cloud each month. Out of that comes a uniquely rich data set for AI for brands to build connections that are anything
but artificial. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our Conversational AI, please
visit liveperson.com.

 

Forward-Looking Statements 

 

Statements in this press release regarding LivePerson
that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future
events or results to differ materially from such statements. Any such forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. It is routine for our internal projections and expectations to change
as the quarter and year progress, and therefore it should be clearly understood that the internal projections and beliefs upon which we
base our expectations may change. Although these expectations may change, we are under no obligation to inform you if they do. Some of
the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without
limitation, the factors described in the Risk Factors section of the Company’s most recently filed Annual Report on Form 10-K for
the year ended December 31, 2021, filed with the SEC on February 28, 2022, as amended by the Form 10-K/A filed on May 2, 2022, and as
from time to time updated in LivePerson’s Quarterly Reports on Form 10-Q. The list of Risk Factors is intended to identify only
certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements.

 

Important Additional Information 

 

LivePerson intends to file a proxy statement and
GOLD proxy card with the SEC in connection with the solicitation of proxies for LivePerson’s 2022 Annual Meeting of Stockholders
(the "Proxy Statement" and such meeting the "2022 Annual Meeting"). BEFORE MAKING ANY VOTING DECISION, INVESTORS AND
STOCKHOLDERS OF LIVEPERSON ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE PROXY STATEMENT
AND ANY SUPPLEMENTS THERETO BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and stockholders will also be able to obtain a
copy of the definitive Proxy Statement and other documents filed by LivePerson free of charge from the SEC's website, www.sec.gov. LivePerson’s
stockholders will also be able to obtain, without charge, a copy of the definitive Proxy Statement and other relevant filed documents
from the Company's website, https://ir.liveperson.com.

 

LivePerson, its directors and certain of its executive
officers will be participants in the solicitation of proxies from stockholders in respect of the 2022 Annual Meeting. Information regarding
the names of LivePerson’s directors and executive officers and their respective interests in LivePerson by security holdings or
otherwise is set forth in LivePerson’s amended Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with
the SEC on February 28, 2022, as amended by the Form 10-K/A filed on May 2, 2022 (the "Amended Annual Report"). To the extent
holdings of such participants in LivePerson’s securities have changed since the amounts described in the Amended Annual Report,
such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form
4 filed with the SEC. Additional information can also be found in the Amended Annual Report. Details concerning the nominees of LivePerson’s
Board of Directors for election at the 2022 Annual Meeting will be included in the Proxy Statement.

 

Contacts

 

Investors: ir-lp@liveperson.com

Media: Mike Tague, mtague@liveperson.com

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