Document:

Unit Sale and Purchase Agreement of MGT4VALUE LLC

 Exhibit 10.49 

AMENDMENT TO 

TOWER AUTOMOTIVE MANAGEMENT, LLC 

UNIT SALE AND PURCHASE AGREEMENT —MGT4VALUE, LLC 

This Amendment to Unit Sale and Purchase Agreement (this “Amendment”) is made and entered into as of the 26 day of
March, 2010 by and between Tower Automotive Management, LLC, a Delaware limited liability company (“Management LLC”), and MGT4VALUE, LLC (the “Participant”). Except as otherwise defined herein, defined terms used in
this Amendment shall have the meanings ascribed to them in the Tower Automotive Management, LLC 2007 Management Incentive Plan (as amended from time to time, the “Plan”) and the Limited Liability Company Agreement of Management LLC
(the “Management LLC Operating Agreement”). In the event of a conflict between the Plan and the Management LLC Operating Agreement, the terms of the Management LLC Operating Agreement shall control. The provisions of the Management
LLC Operating Agreement are incorporated into the Plan, and this Amendment is subject to the terms and conditions of the Plan and the Management LLC Operating Agreement. 

RECITALS 

WHEREAS, Participant previously purchased Management Units in Management LLC pursuant to a Unit Sale and Purchase Agreement dated
as of December 17, 2007 (the “Agreement”); and 
 WHEREAS, in accordance with the Plan, Tower
Automotive Operations USA I, LLC, as the Manager of Management LLC, desires to amend the vesting provisions applicable to Participant’s Acquired Units. 

 NOW, THEREFORE, in consideration of the foregoing, and the representations,
warranties, covenants and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows: 

AGREEMENT 

1. Amendment to Section 2 “Vesting”. Section 2 is amended as follows: 

1.1. Subsection 2(a)(i) is hereby deleted in its entirety and replaced with the following: 

“(a) Time-Based Vesting. The Acquired Units shall be “Time-Based Units.” Thirty-seven and
one-half (37.5) Acquired Units vested on July 31, 2008 (the “First Vesting Date”). An additional thirty-seven and one-half (37.5) Acquired Units vested on July 31, 2009, the first anniversary of the First Vesting
Date. The remaining seventy-five (75) Acquired Units shall vest as follows: Thirty-seventy and one-half (37.5) Acquired Units shall vest on January 1, 2011 and thirty-seventy and one-half (37.5) Acquired Units shall vest on
January 1, 2012, provided the Participant has not incurred a Termination of Service prior to each such date. 

Notwithstanding the foregoing, immediately prior to a “Liquidation Event” (as such term is defined in the
Plan) that occurs on or after the First Vesting Date, Time-Based Units that are not then vested shall become fully vested, provided the Participant has not incurred a Termination of Service prior to such Liquidation Event.” 

 

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 1.2. Subsection 2(a)(ii) is hereby deleted in its entirety. 

2. All references to “Performance-Based Units” in the Agreement are hereby deleted. 

3. The definitions of “First Profit Goal” and the definition of “Second Profit Goal” are hereby deleted in their
entirety. 
 4. Except as specifically amended hereby, the Agreement remains otherwise unmodified and in full force and effect.

 5. Restructuring and IPO; Lock-Up. Participant understands that Tower Automotive, LLC (“Tower”) may
convert into a corporation (the “IPO Entity”) and sell a portion of its shares in an underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (an
“IPO”). Participant agrees that he shall take any action in respect of the Acquired Units, Management LLC and Tower reasonably requested by Tower or Management LLC in order to facilitate the consummation of the IPO, including
without limitation entering into any lock-up agreement that the underwriter in the IPO requests Tower’s directors and officers to execute in connection with the IPO. 

6. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without
giving effect to any choice of law or conflicting provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the laws of any jurisdiction other than the State of Delaware to be applied. 

7. Counterparts. This Amendment may be executed in one or more counterparts, and each such counterpart shall be deemed to be an
original, but all such counterparts together shall constitute but one agreement. 
 8. Entire Agreement. This Amendment
constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior written or oral negotiations, commitments, representations and agreements with respect thereto. 

[The remainder of this page is left intentionally blank.] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Amendment. 

 

			
	TOWER AUTOMOTIVE MANAGEMENT, LLC
	BY ITS MANAGER, TOWER AUTOMOTIVE
	OPERATIONS USA I, LLC
		
	By:	 	 /s/ Mark Malcolm

		 	Mark Malcolm
		 	President & CEO
	
	Dated: March 26, 2010
	
	MGT4VALUE, LLC
	
	 /s/ Larry Schwentor

	Name:	 	Larry Schwentor
	Title:	 	Chief Executive Officer

  

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 THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE AND ARE BEING OFFERED AND SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE SECURITIES ACQUIRED HEREUNDER ARE SUBJECT TO
RESTRICTIONS ON TRANSFER AND RESALE UNDER A LIMITED LIABILITY COMPANY AGREEMENT AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND OTHER APPLICABLE LAWS PURSUANT TO REGISTRATION OR EXEMPTION FROM REGISTRATION
REQUIREMENTS THEREUNDER AND UNDER SUCH LIMITED LIABILITY COMPANY AGREEMENT. 
 TOWER AUTOMOTIVE MANAGEMENT, LLC

 UNIT SALE AND PURCHASE AGREEMENT - MGT4VALUE, LLC 

This Unit Sale and Purchase Agreement (the “Agreement”) is made and entered into as of the 17th day of December 2007 by
and between Tower Automotive Management, LLC, a Delaware limited liability company (“Management LLC”), and MGT4VALUE, LLC (the “Participant”). Except as otherwise defined herein, defined terms used in this Agreement
shall have the meanings ascribed to them in the Tower Automotive Management, LLC 2007 Management Incentive Plan (as amended from time to time, the “Plan”) and the Limited Liability Company Agreement of Management LLC (the
“Management LLC Operating Agreement”). In the event of a conflict between the Plan and the Management LLC Operating Agreement, the terms of the Management LLC Operating Agreement shall control. The provisions of the Management LLC
Operating Agreement are incorporated into the Plan, and this Agreement is subject to the terms and conditions of the Plan and the Management LLC Operating Agreement. 

RECITALS: 

WHEREAS, Tower Automotive, LLC (“Tower LLC”) established Management LLC and the Plan as a means to make equity
incentives to certain select executives and consultants of Tower LLC and its Affiliates; and 
 WHEREAS, Management LLC holds
certain non-voting units of membership interest in Tower LLC; and 
 WHEREAS, Management LLC has offered the Participant the
opportunity to purchase certain non-voting units of membership interest in Management LLC (the “Management Units”) pursuant to the Plan and on the terms and conditions set forth herein; and 

WHEREAS, the Participant desires to purchase such Management Units on the terms and conditions set forth herein. 

 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing, and the representations, warranties, covenants and conditions set forth below, the
parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Sale and Purchase. Subject to the terms and
conditions of this Agreement, the Participant hereby agrees to purchase from Management LLC, and Management LLC hereby agrees to sell to the Participant one hundred and fifty (150) Management Units (the “Acquired Units”) for an
aggregate purchase price of seventy-five thousand dollars ($75,000.00) (i.e., $500.00 per Management Unit) (hereinafter referred to as the “Per Unit Purchase Price”). The Management Units shall be subject to the vesting, forfeiture
and transfer restrictions set forth herein, as well as the Participant’s execution of the Joinder Agreement to the Management LLC Operating Agreement set forth as Exhibit A hereto. The Participant shall submit good funds in an amount
equal to the full amount of the purchase price, payable to “Tower Automotive Management, LLC” within two business days of the date hereof. The Management Units that are the subject of this sale and purchase shall not be issued unless and
until such funds are received by Management LLC. 
 2. Vesting. 

(a) Time and Performance-Based Vesting. Seventy-five (75) of the Acquired Units shall be “Time-Based
Units” and seventy-five (75) of the Acquired Units shall be “Performance-Based Units”, and shall vest as follows: 

(i) Time-Based Units. Thirty-seven and one-half (37.5) of the Time-Based Units (the “First Group of
Time-Based Units”) that are the subject of this Agreement shall vest on July 31, 2008, and thirty-seven and one-half (37.5) of the Time-Based Units that are the subject of this Agreement shall vest on July 31, 2009 (each, an
“Anniversary Date”), provided that the Participant has not incurred a Termination of Service prior to each such Anniversary Date (the “Time Based Awards”). Notwithstanding the foregoing, in the event that the
Participant incurs a Termination of Service due to a Termination Without Cause (as defined in the Service Agreement) (x) on or prior to April 31, 2008, the First Group of Time-Based Units shall immediately vest upon such Termination of
Service, but no further Time-Based Units shall vest; or (y) on or after May 1, 2008, then all of the Time-Based Units shall immediately vest upon such Termination of Service. 

Notwithstanding the foregoing, immediately prior to a “Liquidation Event” (as such term is defined in the
Plan), Time Based Units that are not then vested shall become fully vested, provided that the Participant has not incurred a Termination of Service prior to such Liquidation Event. 

(ii) Performance-Based Units. Performance-Based Units that are the subject of this Agreement (the
“Performance-Based Award”) shall vest upon certification by the Manager of Management LLC that the “Profit Goal” (as defined in Section 9 herein) has been achieved, provided that the Participant has not
incurred a Termination of Service prior to such certification. 
  

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 (b) Forfeiture. Except as set forth herein, if the Participant incurs a Termination
of Service prior to the date or event upon which Time-Based Units and/or Performance-Based Units become vested, then each of such unvested Time-Based Units and/or Performance-Based Units shall no longer vest and shall be sold, assigned, transferred
and conveyed by the Participant to Management LLC for a price equal to the lesser of (x) the Participant’s Per Unit Purchase Price, and (y) the Fair Market Value per Management Unit as of the date of such repurchase. Management LLC
reserves the right, in the sole discretion of the Manager of Management LLC, to satisfy such purchase price by providing the Participant with an unsecured promissory note payable in installments over a period not to exceed five years with interest
at the prevailing prime rate in effect at the time of such purchase. 
 3. Withholding. Upon lapse of the restrictions on
Acquired Units, the Participant will remit to Management LLC, or to an Affiliate thereof designated by Management LLC, an amount sufficient to satisfy any federal, state, or local withholding tax requirements, or shall have made other arrangements
satisfactory to Management LLC and its Affiliates with respect to such taxes, unless the Participant has provided Management LLC with evidence of a timely filed election under Section 83(b) of the Code. 

4. Nontransferability of Award. The Acquired Units may not be transferred, pledged, hypothecated or otherwise disposed of in any
way by the Participant, except to the extent permitted by the Management LLC Operating Agreement and unless and to the extent that they become “Vested Units” (as defined in Section 9 herein); provided, however,
that Acquired Units may be assigned in whole or in part to a trust established exclusively for the sole member of the Participant and/or one or more of such member’s family for estate planning purposes. The terms and conditions of this
Agreement shall continue to apply to the Acquired Units so assigned. 
 5. Right of First Refusal. Prior to making any
Transfer of a Vested Unit, the Participant shall give written notice (the “Sale Notice”) to Management LLC. The Sale Notice shall disclose in reasonable detail the identity of the prospective transferee(s), the number of Vested
Units to be Transferred and the terms and conditions of the proposed Transfer. The Participant shall not consummate any Transfer permitted by the Management LLC Operating Agreement, other than those transfers permitted under Section 7.02 of the
Management LLC Operating Agreement, until 35 days after the Sale Notice has been given to Management LLC. 
 Management LLC may
elect to purchase all (but not less than all) of the Participant’s Vested Units identified in the Sale Notice to be Transferred upon the same terms and conditions as those set forth in the Sale Notice by delivering a written notice of such
election to the Participant within 20 days after the Sale Notice has been received by Management LLC. If Management LLC (acting for itself or, if applicable, its assignee) does not elect to purchase all of the Vested Units specified in the Sale
Notice, the Participant may, during the 60-day period immediately following the expiration of such 20-day period, Transfer the Vested Units specified in the Sale Notice at a price and on terms no more favorable to the transferee(s) thereof than
specified in the Sale Notice. Any Vested Units not Transferred within such 60-day period shall be subject to the provisions of this Section 5 upon any subsequent Transfer. Management LLC (or its assignee) may pay the purchase price for such
Vested Units by offsetting amounts outstanding under any bona fide debts owed by the Participant to Management LLC or any Affiliate. 
  

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 The rights of Management LLC under this Section 5 may be assigned or transferred in
whole or in part by Management LLC, without any consent or other action on the part of the Participant or any other party. 
 6.
Right of Repurchase. In the event of the Participant’s Termination of Service, Management LLC (acting for itself or, if applicable, its assignee) shall have an option for a period commencing on the day following such Termination of
Service and ending twelve (12) months thereafter to purchase all or any portion of the Participant’s Vested Units as of the date of the Participant’s Termination of Service. The purchase price of each Vested Unit for which Management
LLC (or its assignee) exercises such option shall be equal to the Fair Market Value per Management Unit as of the date of such repurchase; provided, however, that if the Participant’s Termination of Service is for Cause, then the
purchase price of each Vested Units for which Management LLC (or its assignee) exercises its option shall be equal to the lesser of (x) the Participant’s Per Unit Purchase Price, and (y) the Fair Market Value per Management Unit as of
the date of such repurchase. Management LLC reserves the right, in the sole discretion of the Manager of Management LLC, to satisfy such purchase price by providing the Participant with an unsecured promissory note payable in installments over a
period not to exceed five years with interest at the prevailing prime rate in effect at the time of such purchase. 
 7.
Effect on Employment or Services. Nothing contained herein shall give the Participant any right to be retained in the employ or service of Tower USA or any of its Affiliates, affect the right of Tower USA or any of its Affiliates to discharge
or discipline such Participant at any time, or affect any right of such Participant to terminate his employment at any time. 

8. Participant Undertaking. The Participant hereby agrees to take whatever additional actions and execute whatever additional
documents Management LLC may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on the Participant pursuant to the express provisions of the Plan, this
Agreement and the Management LLC Operating Agreement. 
 9. Certain Defined Terms. Unless otherwise provided by this
Agreement, the following initially capitalized words and phrases will be defined as set forth below, unless the context clearly requires a different meaning: 

“Affiliate” means, with respect to any Person (as such term is defined in the Plan), any Person that
controls, is controlled by or is under common control with such Person. The term “control” (including the terms “controlled by” and “under common control with”) means the possession, directly or
indirectly, of the actual power to direct or cause the direction of the management policies of a Person, whether through the ownership of stock, by contract, credit arrangement or otherwise. For this purpose a “controlling interest”
shall have the same meaning as provided under Treasury Regulation Section 1.414(c)-2(b)(2)(i), except that “at least 50%” shall be substituted for “at least 80%”. 

“Cause” shall have the meaning assigned such term under the Service Agreement. 

 

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 “Fair Market Value” shall mean the fair market value of a
Management Unit, as determined in good faith by the Manager of Management LLC in its or his sole discretion; 

“Profit Goal” shall mean the allocation to holders of “Preferred Units” under the Tower
Automotive Operating Agreement of net cumulative profits (taking into account any losses) of at least one hundred seventy-five million dollars ($175,000,000); provided, however, that such Profit Goal shall be proportionately increased
by any additional “Capital Contributions” under the Tower Automotive Operating Agreement made by holders of such Preferred Units. Notwithstanding anything contained herein to the contrary, the Manager may, in his or its sole discretion
exercised reasonably, adjust or modify such Profit Goal in order to prevent the dilution or enlargement of the rights of the Participant (a) in the event of, or in anticipation of, any unusual or extraordinary corporate or business item,
transaction, event, or development, or (b) in recognition of, or in anticipation of, any other unusual or nonrecurring events affecting Tower LLC or any of its Affiliates, or the financial statements of Tower LLC or any of its Affiliates, or in
response to, or in anticipation of, changes in applicable laws, regulations, accounting principles, or business conditions. 

“Service Agreement” means the Service Agreement, dated as of August 1, 2007, between Tower
Automotive, LLC and Participant. 
 “Termination of Service” shall occur on the date that the
Participant is no longer engaged as a consultant by Tower LLC or any of its Affiliates; provided, however, that if Larry Schwentor continues to perform services for Tower LLC or any of its Affiliates (whether as a consultant, director or employee),
a Termination of Service shall not occur until the date that Larry Schwentor ceases to be employed by, or to be in the service of, Tower LLC or any of its Affiliates. 

“Tower Automotive Operating Agreement” means the Amended and Restated Limited Liability Company Agreement
of Tower LLC, as the same may be amended from time to time. 
 “Tower USA” means Tower
Automotive Operations USA I, LLC. 
 “Transfer” or “Transferred” shall mean any
direct or indirect transfer, sale, gift, exchange, assignment, pledge or other disposition of Acquired Units, or the grant of any rights or interest with respect thereto. 

“Vested Units” shall mean Time-Based Units and/or Performance-Based Units that have become vested
pursuant to Section 2 hereof. 
 10. Modification of Rights. The rights of the Participant with respect to the
Acquired Units are subject to modification and termination in certain events as provided in the Plan, this Agreement and the Management LLC Operating Agreement. 
  

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 11. Representations and Warranties of the Participant. The Participant represents and
warrants to Management LLC and its Affiliates as of the date hereof that: 
 (a) Organization, Power and Authority. The
Participant, if not a natural person, is duly incorporated or formed, validly existing and in good standing in its jurisdiction of incorporation or formation. The Participant has full power and authority to enter into, deliver and perform this
Agreement and the Joinder Agreement (together, the “Transaction Documents”) and has taken all action required to authorize the execution and delivery hereof and to consummate the transactions contemplated hereby, including the
purchase of the Management Units, and, if the Participant is not a natural person, the person signing this Agreement on behalf of the Participant has been duly authorized to act on behalf of and to bind such party. 

(b) Authorization of Agreements, Etc. The Transaction Documents have been duly executed and delivered by the Participant and
constitute the valid and binding obligation of the Participant, enforceable against the Participant in accordance with its terms, except as may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization or similar laws affecting
creditors’ rights generally or by general equitable principles, and except insofar as the enforceability of any provision hereof would be restricted or void by reason of public policy. 

(c) No Conflicts. The execution and delivery of the Transaction Documents and the consummation of the transactions contemplated
hereby will not (i) violate, conflict with or result in an event of default under any material agreement or contract to which the Participant is a party or by which the Participant is bound, (ii) violate any applicable law, ordinance, rule
or regulation of any governmental body having jurisdiction over such party or its business or any order, judgment or decree applicable to the Participant, (iii) require the Participant to obtain the consent of any governmental agency or entity
or any other third party, other than such consents as have already been obtained, or (iv) if not a natural person, violate any provision of the Participant’s certificate of incorporation, certificate of limited partnership, certificate of
formation or other formation or organizational instrument or document, as applicable, and by-laws, partnership agreement or operating agreement, as applicable. 

(d) Investment Representations. The Participant represents and warrants to Management LLC that it is an “accredited
investor” as such term is defined in Rule 501 of Regulation D (“Regulation D”) promulgated under the Securities Act and is acquiring the Management Units for its own account for the purpose of investment and not with a view to
or for sale in connection with any distribution thereof. The Participant further represents that the Participant has knowledge and experience in business and financial matters and prior investment experience, including investment in securities that
are non-listed, unregistered and/or not traded on a national securities exchange nor on The NASDAQ Stock Market and that the Participant understands that (i) the Management Units have not been registered under the Securities Act, by reason of
their issuance in a transaction exempt from the registration requirements of the Securities Act pursuant to Section 4(2) thereof or pursuant to Regulation D promulgated thereunder, (ii) the Management Units must be held indefinitely unless
a subsequent disposition thereof is registered under the Securities Act or is exempt from such registration, and (iii) Management LLC will make a notation on its transfer books to such effect. 

 

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 (e) No Public Market. The Participant understands that there is no public market for
the Management Units and that no market may develop. The Participant understands and acknowledges that Management LLC is under no obligation to register the Management Units under the Securities Act or any state securities or “blue sky”
laws. The Participant acknowledges that at such time, if ever, as the Management Units are registered, sales of such securities will be subject to state securities laws, and that any sales must comply in all respects with all applicable state
securities laws, including those of the state in which the Participant resides, which may require any securities sold in such state to be sold through a registered broker-dealer or in reliance upon an exemption from registration. 

(f) Access to Information. The Participant represents that the Participant has been furnished by Management LLC with all
information regarding Management LLC which the Participant has requested or desired to know, has been afforded the opportunity to ask questions of and receive answers from duly authorized representatives of Management LLC concerning the terms and
conditions of this offering and has received any additional information which the Participant has requested. The Participant has relied solely upon the information provided by Management LLC in this Agreement in making the decision to invest in the
Management Units. The Participant disclaims reliance on any other statements made or information provided by any person or entity in the course of the Participant’s consideration of the purchase of the Management Units. 

(g) Risk. THE PARTICIPANT UNDERSTANDS THAT THIS INVESTMENT IN THIS LIMITED LIABILITY COMPANY IS ILLIQUID AND INVOLVES A HIGH
DEGREE OF SPECULATIVE RISK. The Participant recognizes that the purchase of the Management Units involves a high degree of risk in that, among other things, (i) the business of Management LLC and Tower LLC is a very early stage business
with a very limited operating history, (ii) an investment in Management LLC is highly speculative, (iii) the Participant may not be able to liquidate the Participant’s investment, and (iv) in the event of a disposition, the
Participant could sustain the loss of the entire investment. 
 (h) Address. The Participant represents that the address
of the Participant furnished on the signature page hereof is (i) the Participant’s principal business address if the Participant is not a natural person, or (ii) the Participant’s principal residence if the Participant is a
natural person. 
 (i) Management LLC Operating Agreement. The Participant acknowledges and agrees that (i) the
Management Units are subject to substantial restrictions on transfer and voting pursuant to the Management LLC Operating Agreement. 

12. Representations and Warranties of Management LLC. Management LLC represents and warrants to the Participant as of the date
hereof, that: 
 (a) It is duly formed, validly existing and in good standing or the equivalent thereof under the laws of the
State of Delaware. 
 (b) It has taken all limited liability company action required to authorize the execution and delivery of
this Agreement and the consummation of the transactions contemplated hereby. It has the limited liability company power and authority to execute and deliver this Agreement and to perform its obligations hereunder. 

 

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 (c) This Agreement has been duly executed and delivered by it and is the legal, valid and
binding obligation of it, enforceable in accordance with its terms, except as such enforcement may be limited by or subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating
to or affecting creditors' rights generally and general equitable principles (whether considered in a proceeding in equity or at law). 

(d) The Acquired Units, when issued as contemplated by Section 1 herein, will be duly authorized, validly issued, fully paid and
nonassessable, and issued free and clear of all encumbrances (other than applicable transfer restrictions pursuant to federal or state securities laws and encumbrances created by this Agreement, the Plan and/or the Management LLC Operating
Agreement. 
 13. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware, without giving effect to any choice of law or conflicting provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the laws of any jurisdiction other than the State of Delaware to be applied.

 14. Counterparts. This Agreement may be executed in one or more counterparts, and each such counterpart shall be
deemed to be an original, but all such counterparts together shall constitute but one agreement. 
 15. Entire Agreement.
The Plan, this Agreement and the Management LLC Operating Agreement constitute the entire agreement between the parties with respect to the subject matter hereof and thereof and supersede all prior written or oral negotiations, commitments,
representations and agreements with respect thereto. 
 16. Notices. Any notice or other communication required or which
may be given hereunder shall be in writing and shall be delivered personally, telegraphed, telexed, sent by facsimile transmission or sent by certified, registered or express mail, postage prepaid or overnight mail and shall be deemed given when so
delivered personally, telegraphed, telexed, or sent by facsimile transmission or, if mailed, four (4) days after the date of mailing or one (1) day after overnight mail, as follows: 

 

					
	(a)	  	If to Management LLC or Tower USA:
		
		  	Tower Automotive Operations USA I, LLC
		  	27175 Haggerty Road
		  	Novi, Michigan 48377
		  	Attn: Manager
		
		  	With copies to:
		
		  	Cerberus Capital Management, L.P.
		  	299 Park Avenue
		  	New York, New York 10171
		  	Attention:	  	Dev Kapadia
		  	Telephone:	  	(212) 891-2100
		  	Facsimile:	  	(212) 891-1540

  

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		  	And
		
		  	Lowenstein Sandler PC
		  	1251 Avenue of the Americas
		  	New York, New York 10020
		  	Attention:	  	Robert G. Minion, Esq.
		  	Telephone:	  	(973) 597-2424
		  	Facsimile:	  	(973) 597-2425
		
	(b)	  	If to the Participant:
		
		  	MGT4VALUE, LLC
		  	2811 Tall Timbers Drive
		  	Milford, MI 48380
		  	Attention:	  	Larry Schwentor
		  	Telephone:	  	(248) 224-5929
		  	Facsimile:	  	(248) 684-2057
		
		  	With a copy to:
		
		  	Dean and Fulkerson, P.C.
		  	Attention William Coon
		  	801 West Big Beaver Rd
		  	Troy, MI 48084
		  	Telephone	  	(248) 362-1300
		  	Facsimile	  	(248) 362-1358

 17. Severability.
It is the desire and intent of the parties hereto that the provisions of this Agreement be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any
particular provision of this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the
remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or
unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.

 18. Tax Aspects. Exhibit B hereto contains a brief summary of certain federal tax aspects that may be relevant
to holders of Management Units and includes a Section 83(b) election form. By signing this Agreement, the Participant represents that the Participant has reviewed with his/her own tax advisor the United States federal, state, local and
non-United States tax consequences of the transactions contemplated by this Agreement (including whether or not to make a Section 83(b) election in connection with the receipt of capital interests) and that the Participant is relying solely on
such advisor and not any statements or representations of Management LLC, Tower USA or any of their Affiliates or agents (including, without limitation, any statements in this Agreement or Exhibit B). The Participant acknowledges that it is the

  

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Participant’s sole responsibility and not that of Management LLC or Tower USA, or any of their Affiliates, to file timely the election under Section 83(b) of the Internal Revenue Code
of 1986, as amended, even if the Participant requests Management LLC, Tower USA or any of their respective representatives to make this filing on the Participant’s behalf. 

[The remainder of this page is left intentionally blank.] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Tower Automotive
Management, LLC Unit Sale and Purchase Agreement. 
  

			
	TOWER AUTOMOTIVE MANAGEMENT, LLC
	BY ITS MANAGER, TOWER AUTOMOTIVE
	OPERATIONS USA I, LLC
		
	By:	 	 /s/ Mark Malcolm

	Name:	 	Mark Malcolm
	Title:	 	President and CEO
	
	MGT4VALUE, LLC
		
	By:	 	 /s/ Larry Schwentor

	Name:	 	Larry Schwentor
	Title:	 	Chief Executive Officer

  

 -11-2000 Stock Option/Stock Issuance Plan, as Amended

 Exhibit 10.1 

ZIPCAR, INC. 

2000 STOCK OPTION/STOCK ISSUANCE PLAN 

1. Purpose. This 2000 Stock Option/Stock Issuance Plan (the “Plan”) is intended to promote the interests of Zipcar, Inc.
by giving incentives to the eligible officers and other employees and directors of and consultants and advisors to Zipcar, Inc. (the “Company”), its parent (if any) and any present or future subsidiaries of the Company (collectively,
“Related Corporations”) through providing opportunities to acquire stock in the Company. As used herein, the terms “parent” and “subsidiary” mean “parent corporation” and “subsidiary corporation”,
respectively, as those terms are defined in Sections 424(e) and 424(f) or successor provisions of the Internal Revenue Code of 1986 as amended from time to time (the “Code”). 

2. Structure of the Plan. The Plan permits the following separate types of grant: 

A. Options may be granted hereunder to purchase shares of common stock of the Company. These options may meet the requirements of
Section 422 of the Code (“Incentive Stock Options” or “ISOs”); or, they may not qualify as ISOs (“Non-Qualified Options”). Both ISOs and Non-Qualified Options are sometimes referred to hereinafter as
“Options”. 
 B. Awards of stock in the Company (“Awards”) may be granted. 

C. Opportunities to make direct purchases of stock in the Company (“Purchases”) may be authorized. 

Options, Awards and authorizations to make Purchases are sometimes referred to hereinafter as “Stock Rights”. 

3. Administration of the Plan. 

A. The Plan shall be administered by the Board of Directors of the Company (the “Board”). The Board may in its sole discretion
grant Options, authorize Purchases and grant Awards, as provided in the Plan. The Board shall have full power and authority, subject to the express provisions of the Plan, to construe and interpret the Plan and all Option agreements, Purchase
authorizations and Award grants thereunder, to establish, amend and rescind such rules and regulations as it may deem appropriate for the proper Administration of the Plan, to determine in each case the terms and provisions which shall apply to a
particular Option agreement, Purchase authorization, or Award grant, and to make all other determinations which are, in the Board’s judgment, necessary or desirable for the proper administration of the Plan. The Board may correct any defect,
supply any omission or reconcile any inconsistency in the Plan or in any Option agreement, Purchase authorization or Award grant in the manner and to the extent it shall, in its sole discretion,

  

 1 

 
consider expedient. Decisions of the Board shall be final and binding on all parties who have an interest in the Plan or any Option, Purchase, Award, or stock issuance thereunder. No director or
person acting pursuant to authority delegated by the Board shall be liable for any action or determination under the Plan made in good faith. 

B. The Board may, to the full extent permitted by and consistent with applicable law and the Company’s By-laws, and subject to
Subparagraph D hereinbelow, delegate any or all of its powers with respect to the administration of the Plan to a committee (the “Committee”) appointed by the Board. If a Committee has been appointed, all references in this Plan to the
Board shall mean and relate to that Committee. 
 C. Those provisions of this Plan which make express reference to Rule 16b-3
under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or any successor rule (“Rule 16b-3”), or which are required in order for certain option transactions to qualify for exemption under Rule 16b-3, shall
apply only to those persons required to file reports under Section 16(a) of the Exchange Act (a “Reporting Person”). 

D. If the Company registers any class of equity security under Section 12 of the Exchange Act, the selection of a director or an
officer (as the terms “director” and “officer” are defined for purposes of Rule 16b-3) as a recipient of an option, the timing of the option grant, the exercise price of the option and the number of shares subject to the option
shall be determined either (i) by the Board, if all of the Board members are disinterested persons within the meaning of Rule 16(b)(3), or (ii) by two or more directors having full authority to act in the matter, each of whom shall be such
a disinterested person. 
 4. Eligible Employees and Others. ISOs may be granted to any employee of the Company or of any
Related Corporation. No person who is not such an employee may be granted an ISO. Non-Qualified Options, Awards, and authorizations to make Purchases may be granted to any employee, officer or director of, or consultant or advisor to the Company or
any Related Corporation. The granting of any Stock Right to any individual or entity shall neither entitle that individual or entity to, nor disqualify him from, participation in any other grant of Stock Rights. 

5. Stock. The stock subject to Options, Awards and Purchases shall be authorized but unissued shares of common stock of the
Company (“Common Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of shares which may be issued under the Plan is six hundred ten thousand (610,000) subject to adjustment as provided in
Paragraph 14. If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, or if the Company shall reacquire any nonvested
shares issued pursuant to Awards or Purchases, the unpurchased shares subject to such Option, or such nonvested shares so reacquired shall again be available for grants of Stock Rights under the Plan. 

 

 2 

 6. Option Agreements. As a condition to the grant of an Option, each recipient of an
Option shall execute an option agreement in such form not inconsistent with the Plan as the Board shall approve. These option agreements may differ among recipients. Each option agreement with respect to an ISO shall be subject to the provisions of
the Plan applicable to ISOs. The Board may, in its sole discretion, include additional provisions in option agreements, including without limitation restrictions on transfer, repurchase rights, commitments to pay cash bonuses, to make, arrange for
or guarantee loans or to transfer other property to optionees upon exercise of options, or such other provisions as shall be determined by the Board; provided, however, that such additional provisions shall not be inconsistent with any provision of
the Plan and such additional provisions shall not cause any ISO granted under the Plan to fail to qualify as an incentive stock option within the meaning of Section 422 of the Code. 

7. Price. 

A. Subject to Subparagraph 3D of this Plan and Subparagraphs B and C of this Paragraph 7, the purchase price per share of Common Stock
deliverable upon the exercise of an Option, and the purchase price of Common Stock acquired pursuant to Purchases under this Plan (“exercise price”) shall be determined by the Board. 

B. In the case of an ISO, the exercise price shall not be less than 100% of the fair market value of Common Stock, as determined by the
Board, at the time of grant of such option, or less than 110% of such fair market value in the case of an ISO granted to the owner of stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any
Related Corporation (after taking into account the attribution of stock ownership rules of Section 424(d) of the Code) (a “10% Shareholder”). 

8. Cancellation and New Grant of Options, Etc. The Board shall have the authority to effect, at any time and from time to time,
with the consent of the affected optionees, and after consideration of such factors as the Board considers relevant (which may include any financial accounting consequences to the Company, e.g., under APB Opinion No. 25), (i) the
cancellation of any or all outstanding Options and the grant in substitution therefor of new Options covering the same or different shares of Common Stock and having an exercise price per share which may be lower or higher than the exercise price
per share of the canceled Options, or (ii) unless doing so would have the effect of causing an ISO to be treated as a Non-Qualified Option, the amendment of the terms of any and all outstanding Options to provide an exercise price per share
which is higher or lower than the then-current exercise price per share of such outstanding Options. 
  

 3 

 9. Exercise of Options. 

A. Each Option granted under the Plan shall be exercisable either in full or in installments at such time or times and during such period
as shall be set forth in the agreement evidencing the Option, subject to the provisions of the Plan. Unless doing so would have the effect of causing an ISO to be treated as a Non-Qualified Option, the Board may, in its sole discretion, after
consideration of such factors as it considers relevant (which may include the impact, if any, on the Company’s financial statements of such change in the terms of the Option or Options), (i) accelerate the date or dates on which all or any
particular Option or Options granted under the Plan may be exercised or (ii) extend the dates during which all, or any particular, Option or Options granted under the Plan may be exercised. 

B. Options granted under the Plan may provide for payment of the exercise price by delivery of cash or a check payable to the order of
the Company, or, to the extent (if at all) provided in the option agreement: (i) by delivery to the Company of shares of Common Stock of the Company already owned by the optionee having a fair market value determined by the Board to be equal in
amount to the exercise price of the Options being exercised, or (ii) by delivery of a recourse promissory note of the optionee bearing interest payable not less than annually at the applicable Federal rate as defined in Section 1274(d) of
the Code and otherwise payable on such terms as are specified by the Board, or (iii) by requesting that the Company withhold shares of Common Stock of the Company issuable upon exercise of the Options having a fair market value determined by
the Board to be equal in amount to the exercise price of the Options being exercised, or (iv) by any combination of the above methods of payment. 

C. An option agreement may permit the Option granted thereunder to be exercised before it is vested (an “Early Exercise”),
subject to the Company’s right of repurchase, under a stock restriction agreement acceptable to the Company to be executed by the option holder and the Company at the time of such Early Exercise, over any shares acquired under the unvested
portion of the Option, which right of repurchase shall lapse at the same time the Option would have vested had there been no Early Exercise. 

10. Vesting and Option Period. 

A. The date or schedule of dates on which options are first permitted to be exercised, or under which the Company is permitted to
repurchase at the original purchase price (or nominal price in the case of an Award) of shares acquired under this Plan through Awards, Purchases or Early Exercises (the “Vesting Schedule”). 

B. Subject to earlier termination under other provisions of this Plan, each Option and all rights thereunder shall expire on such date as
shall be set forth in the applicable option agreement, except that, in the case of an ISO, such expiration date (the “Expiration Date”) shall not be later than ten years after the date on which the ISO is granted and, in the case of an ISO
granted to a 10% Shareholder as defined in Subparagraph 7B of this Plan, such expiration date shall not be later than five years after the date on which the ISO is granted. 

 

 4 

 11. Nontransferability of Options. Options shall not be assignable or transferable by
the optionee, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the life of the optionee, shall be exercisable only by the optionee. 

12. Effect of Termination of Employment or Other Relationship. Except as otherwise provided in Paragraph 10, and subject to all
other provisions of the Plan, the right to exercise any Option in the event of termination of employment, to the extent that the optionee is entitled to exercise on the date employment terminates: 

(i) If the optionee leaves the employ of the Company or a Related Corporation for any reason other than death of
disability, three (3) months after the date the optionee ceases to be an employee of the Company and any Related Corporation (or within such lesser period as may be specified in the option agreement). 

(ii) If the optionee dies while in the employ of the Company or a Related Corporation, or within three (3) months
after the optionee ceases to be such an employee of the Company or a Related Corporation, one (1) year after the date of death (or within such lesser period as may be specified in the option agreement). 

(iii) If the optionee becomes disabled (within the meaning of Section 22(e)(3) of the Code) while in the employ of
the Company or a Related Corporation, one (1) year after the date the optionee’s employment ceases because of such disability (or within such lesser period as may be specified in the option agreement). 

For all purposes of the Plan and any agreement evidencing an Option, “employment” shall be defined in accordance with the provisions of
Treasury Regulation Section 1.421-7(h) under the Code (or any successor regulations). 
 13. Additional ISO
Requirements. ISOs granted under the Plan are subject to the minimum exercise price rules set forth in Subparagraph 7B hereof, the option period rules of Paragraph 10 hereof, and various other restrictions set forth elsewhere in this Plan. In
addition, ISOs granted under the Plan are subject to the following: 
 A . Each ISO granted under the Plan shall, at the time of
grant, be specifically designated as such in the option agreement evidencing such Option. 
 B. In no event shall the aggregate
fair market value (determined at the time an ISO is granted) of Common Stock for which ISOs granted to any employee are exercisable for the first time by such employee during any calendar year (under all stock

  

 5 

 
option plans of the Company and any Related Corporation) exceed One Hundred Thousand Dollars ($100,000); provided, however, that this Subparagraph B shall have no force or effect if its inclusion
in the Plan is not necessary for Options issued as ISOs to qualify as incentive stock options within the meaning of Section 422 of the Code. Any Option which would, but for its failure to satisfy the foregoing restriction, qualify as an ISO
shall nevertheless be a valid Option, but to the extent of such failure it shall be deemed to be a Non-Qualified Option. 
 C.
In addition, no ISO may be exercised unless, at the time of such exercise, the optionee is, and has been continuously since the date of grant of the ISO, employed by the Company or a Related Corporation, except as set forth in Section 12; and
provided further, that if an option agreement provides for a post-termination exercise period of longer than three (3) months after the date the optionee ceases to be an employee of the Company and any Related Corporation (other than as a
result of disability or death), the exercise after such three-month period shall be treated as the exercise of a Non-Qualified Option. 

14. Adjustments. 

A. If, through or as a result of any merger, consolidation, sale of all or substantially all of the assets of the Company, reorganization,
recapitalization, reclassification, stock dividend, stock split, reverse stock split, holding company formation or other similar transaction, (i) the outstanding shares of Common Stock are increased, decreased or exchanged for a different
number or kind of shares or other securities of the Company or a corporation or other entity controlled by or controlling the Company, or (ii) additional shares or new or different shares or other securities of the Company or other non-cash
property is distributed with respect to such shares of Common Stock or other securities, an appropriate and proportionate adjustment shall be made in (a) the maximum number and kind of shares reserved for issuance under the Plan, (b) the
number and kind of shares or other securities subject to any then outstanding Options under the Plan, and (c) the price for each share subject to any then outstanding Options under the Plan, without changing the aggregate purchase price as to
which such Options remain exercisable. No fractional shares shall be issued under the Plan on account of any such adjustments. Notwithstanding the foregoing provisions of this Subparagraph A, no adjustment shall be made pursuant to this Paragraph 14
if such adjustment would cause any ISO granted under the Plan to fail to qualify as an incentive stock option within the meaning of Section 422 of the Code. 

B. Any adjustments under this Paragraph 14 shall be made by the Board of Directors, whose determination as to what adjustments, if any,
will be made and the extent thereof shall be final, binding and conclusive. 
 15. Rights as a Shareholder. The holder of
an Option shall have no rights as a shareholder with respect to any shares covered by the option (including, without limitation, any voting rights, the right to inspect or receive the Company’s balance sheets

  

 6 

 
or financial statements or any rights to receive dividends or non-cash distributions with respect to such shares) until the date of issue of a stock certificate for such shares. No adjustment
shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued. 

16. Merger, Consolidation. Asset Sale, Liquidation, etc. 

A. Except as may otherwise be provided in the applicable option agreement, in the event of a consolidation or merger or sale of all or
substantially all of the assets of the Company in which outstanding shares of Common Stock are exchanged for securities, cash or other property of any other corporation or business entity, or in the event of the liquidation of the Company, (any of
such events, a “Liquidity Event”) the Board, or the board of directors of any corporation assuming the obligations of the Company, shall, in its discretion, take any one or more of the following actions, as to outstanding Options:
(i) provide that such Options (excluding any such Options which are terminated in accordance with the provisions of (iii), (iv) or (v) hereinbelow) shall be assumed, or equivalent options shall be substituted, by the acquiring or
succeeding corporation (or an affiliate thereof), provided, however, that any such Options substituted for ISOs shall meet the requirements of Section 424(a) of the Code; (ii) upon written notice to the optionees, provide that any and all
outstanding Options shall become exercisable in full (to the extent not otherwise so exercisable) as of a specified date or time (“Accelerated Vesting Date”) prior to the consummation of such transaction, and that all unexercised Options
shall terminate as of a specified date or time (“Accelerated Expiration Date”) following the Accelerated Vesting Date unless exercised by the optionee prior to the Accelerated Expiration Date, provided, however, that optionees shall be
given a reasonable period of time within which to exercise or provide for the exercise of outstanding Options following such written notice and before the Accelerated Expiration Date; (iii) in the event of a merger (or consolidation) or
purchase (or exchange) of the Company’s stock, under the terms of which holders of the Common Stock of the Company will receive upon consummation thereof cash, stock, indebtedness, any other property, or any combination of the foregoing
(“Consideration”), in exchange for each share purchased or surrendered in the merger, terminate, in the Board’s sole discretion, either (a) each outstanding Option or (b) each outstanding Option which is exercisable in full
as of the date of such consummation, in exchange for a payment, made or provided for by the Company, equal in amount to the excess, if any, of the value (as determined by the Board in its sole discretion, such determination to be final, binding and
conclusive) of the Consideration over the per-share exercise price of each such Option, times the number of shares of Common Stock subject to such Option, such payment to consist, to the extent practicable, of proportional amounts of cash, stock,
indebtedness, other property, or combination of the foregoing as constitutes the Consideration, and to the extent not so practicable, in cash; or (iv) in the event of a purchase of the Company’s assets, under the terms of which holders of
the Common Stock of the Company will receive upon liquidation of the Company following the consummation thereof cash, stock, indebtedness, any other property, or any combination of the foregoing (“Consideration”), terminate, in the
Board’s sole discretion, either (a) each outstanding Option or (b) each 
  

 7 

 
outstanding Option which is exercisable in full as of the date of such liquidation, in exchange for a payment, made or provided for by the Company, equal in amount to the excess, if any, of the
value (as determined by the Board in its sole discretion, such determination to be final, binding and conclusive) of the Consideration over the per-share exercise price of each such Option, times the number of shares of Common Stock subject to such
Option, such payment to consist, to the extent practicable, of proportional amounts of cash, stock, indebtedness, other property, or combination of the foregoing as constitutes the Consideration, and to the extent not so practicable, in cash; or
(v) terminate, in the Board’s sole discretion, either (a) each outstanding Option or (b) each outstanding Option which is exercisable in full as of the date of the Liquidity Event, in exchange for a cash payment equal in amount
to the product of the excess, if any, of the fair market value of a share of Common Stock over the per-share exercise price of each such Option, times the number of shares subject to such Option. The Board shall determine the fair market value of a
share of Common Stock for purposes of the foregoing, and the Board’s determination of such fair market value shall be final, binding and conclusive. 

B. The Company may grant Options under the Plan in substitution for Options held by employees of another corporation who become employees
of the Company or a Related Corporation as the result of a merger or consolidation of the employing corporation with the Company or a Related Corporation, or as a result of the acquisition by the Company or a Related Corporation of property or stock
of the employing corporation. The Company may direct that substitute Options be granted on such terms and conditions as the Board considers appropriate in the circumstances. 

17. Stock Restriction Agreement. As a condition to the grant of an Award or a Purchase authorization under the Plan, the recipient
of the Award or Purchase authorization shall execute an agreement (“Stock Restriction Agreement”) in such form not inconsistent with the Plan as may be approved by the Board. Stock Restriction Agreements may differ among recipients. Stock
Restriction Agreements may include any provisions the Board determines should be included and that are not inconsistent with any provision of the Plan and applicable law. 

18. No Special Employment Rights. Nothing contained in the Plan or in any option agreement or other agreement or instrument
executed pursuant to the provisions of the Plan shall confer upon any optionee any right with respect to the continuation of his or her employment by the Company or any Related Corporation or interfere in any way with the right of the Company or a
Related Corporation at any time to terminate such employment or to increase or decrease the compensation of the optionee. 
 19.
Other Employee Benefits. Except as to plans which by their terms include such amounts as compensation, no amount of compensation deemed to be received by an employee as a result of the grant or exercise of an Option or the sale of shares
received upon such exercise, or as a result of the grant of an Award or the authorization or making of a Purchase will constitute compensation with respect to which any other employee 

 

 8 

 
benefits of such employee are determined, including, without limitation, benefits under any bonus, pension, profit-sharing, life insurance or salary continuation plan, except as otherwise
specifically determined by the Board. 
 20. Amendment of the Plan. 

A. The Board may at any time, and from time to time, modify or amend the Plan in any respect, except as otherwise expressly provided in
this Plan; provided, however, that if at any time the approval of the shareholders of the Company is required under the Code with respect to ISOs, or is required under Rule 16b-3, the Board may not effect such modification or amendment without such
approval. 
 B. The termination or any modification or amendment of the Plan shall not, without the consent of an optionee,
affect the optionee’s rights under an Option previously granted. With the consent of the optionee affected, the Board may amend outstanding option agreements in a manner not inconsistent with the Plan. The Board shall have the right to amend or
modify (i) the terms and provisions of the Plan and of any outstanding ISO granted under the Plan to the extent necessary to qualify any or all such Options for such favorable federal income tax treatment (including deferral of taxation upon
exercise) as may be afforded incentive stock options within the meaning of Section 422 of the Code, and (ii) the terms and provisions of the Plan and of any outstanding Option to the extent necessary to ensure the qualification of the Plan
under Rule 16b-3. 
 21. Investment Representations. The Board may require any person to whom an Option is granted, as a
condition of exercising such Option, and any person to whom an Award is granted or a Purchase is authorized, as a condition thereof, to give written assurances in substance and form satisfactory to the Board to the effect that such person is
acquiring the Common Stock subject to the Option, Award or Purchase for such person’s own account for investment and not with any present intention of selling or otherwise distributing the same, and to such other effects as the Company deems
necessary or appropriate in order to comply with federal and applicable state securities laws, or with covenants or representations made by the Company in connection with any public offering of its Common Stock. 

22. Compliance With Securities Laws. Each Option shall be subject to the requirement that if, at any time, counsel to the Company
shall determine that the listing, registration or qualification of the shares subject to such Option upon any securities exchange or under any state or federal law, or the consent or approval of any governmental or regulatory body, or that the
disclosure of non-public information or the satisfaction of any other condition is necessary as a condition of, or in connection with, the issuance or purchase of shares thereunder, such Option may not be exercised, in whole or in part, unless such
listing, registration, qualification, consent or approval, or satisfaction of such condition shall have been effected or obtained on conditions acceptable to the Board. Nothing herein shall be deemed to require the Company to apply for or to obtain
such listing, registration or qualification, or to satisfy such condition. 
  

 9 

 23. Withholding. The Company shall have the right to deduct from payments of any kind
otherwise due to the optionee any federal, state or local taxes of any kind required by law to be withheld with respect to any shares issued upon exercise of Options under the Plan or upon the grant of an Award, the making of a Purchase of Common
Stock for less than its fair market value, the making of a Disqualifying Disposition (as defined in Paragraph 24), or the vesting of restricted Common Stock acquired pursuant to a Stock Right. The Board in its sole discretion may condition the
exercise of an Option, the grant of an Award, the making of a Purchase, or the vesting of restricted shares acquired by exercising a Stock Right on the grantee’s payment of such additional withholding taxes. Subject to the prior approval of the
Company, which may be withheld by the Company in its sole discretion, the grantee may elect to satisfy such obligations, in whole or in part, (i) by causing the Company to withhold shares of Common Stock otherwise issuable pursuant to the
exercise of a Stock Right or (ii) by delivering to the Company shares of Common Stock already owned by the grantee. The shares so delivered or withheld shall have a fair market value equal to such withholding obligation, and shall not be
subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements. The fair market value of the shares used to satisfy such withholding obligation shall be determined by the Company as of the date that the amount of tax to be
withheld is to be determined. Notwithstanding the foregoing, in the case of a Reporting Person, no election to use shares for the payment of withholding taxes shall be effective unless made in compliance with any applicable requirements of Rule
16b-3 (unless it is intended that the transaction not qualify for exemption under Rule 16b-3). 
 24. Notice to Company of
Disqualifying Disposition. Each employee who receives an ISO must agree to notify the Company in writing immediately after the employee makes a Disqualifying Disposition, as hereinafter defined, of any Common Stock acquired pursuant to the
exercise of an ISO. A Disqualifying Disposition is any disposition (including any sale) of such Common Stock before the later of (a) two (2) years after the date the employee was granted the ISO or (b) one (1) year after the date
the employee acquired Common Stock by exercising the ISO. If the employee has died before such stock is sold, these holding period requirements do not apply and no Disqualifying Disposition can occur thereafter. 

25. Effective Date and Duration of the Plan. 

A. The Plan shall become effective when adopted by the Board, but no Stock Right granted under the Plan shall become exercisable unless
and until the Plan shall have been approved by the Company’s shareholders. If such shareholder approval is not obtained within twelve months after the date of the Board’s adoption of the Plan, Stock Rights previously granted under the Plan
shall not vest and shall terminate and shall be null and void and no Stock Rights shall be granted thereafter under the Plan. Amendments to the Plan not requiring shareholder approval shall become effective when adopted by the Board; amendments
requiring shareholder approval shall become effective when adopted by the Board, but no stock Right granted after the date of such 

 

 10 

 
amendment shall become exercisable (to the extent that such amendment to the Plan was required to enable the Company to grant such stock Right to a particular person) unless and until such
amendment shall have been approved by the Company’s shareholders. If such shareholder approval is not obtained within twelve months of the Board’s adoption of such amendment, any Stock Rights granted on or after the date of such amendment
shall terminate and become null and void to the extent that such amendment was required to enable the Company to grant such Stock Rights to a particular person. Subject to this limitation, Stock Rights may be granted under the Plan at any time after
the effective date and before the termination date of the Plan. 
 B. Unless sooner terminated as provided elsewhere in this
Plan, this Plan shall terminate upon the close of business on the day next preceding the tenth anniversary of the earlier of (i) the date of its adoption by the Board or (ii) the date it is approved by shareholders. Stock Rights
outstanding on such date shall continue to have force and effect in accordance with the provisions of the instruments evidencing such Stock Rights. 

Adopted by the Board of Directors on November 2 , 2000. 
  

 11 

 AMENDMENT NO. 1 TO 

2000 STOCK OPTION/STOCK ISSUANCE PLAN 

OF 

ZIPCAR, INC. 

The 2000 Stock Option/Stock Issuance Plan (the “Plan”) of Zipcar, Inc. be, and hereby is, amended as follows: 

1. Section 5 is deleted in its entirety and the following is substituted in its place: 

“5. Stock. The stock subject to Options, Awards and Purchases shall be authorized but unissued shares of common stock of the
Company (“Common Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of shares which may be issued under the Plan is two million four hundred ten thousand (2,410,000) subject to adjustment
as provided in Paragraph 14. If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, or if the Company shall reacquire
any nonvested shares issued pursuant to Awards or Purchases, the unpurchased shares subject to such Option, or such nonvested shares so reacquired shall again be available for grants of Stock Rights under the Plan.” 

Adopted by the Board of Directors on December 20, 2002 

Adopted by the Stockholders on December 20, 2002 

 AMENDMENT NO. 2 TO 

2000 STOCK OPTION/STOCK ISSUANCE PLAN 

OF 

ZIPCAR, INC. 

The 2000 Stock Option/Stock Issuance Plan (the “2000 Plan”) of Zipcar, Inc., as amended, be, and hereby is further amended as
follows: 
 1. Section 5 is deleted in its entirety and the following is substituted in its place: 

“5. Stock. The stock subject to Options, Awards and Purchases shall be authorized but unissued shares of common stock of the
Company (“Common Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of shares which may be issued under the Plan is four million (4,000,000) subject to adjustment as provided in Paragraph
14. If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, or if the Company shall reacquire any nonvested shares
issued pursuant to Awards or Purchases, the unpurchased shares subject to such Option, or such nonvested shares so reacquired shall again be available for grants of Stock Rights under the Plan.” 

Adopted by the Board of Directors on October 13, 2003 

Adopted by the Stockholders on October 29, 2003 

 AMENDMENT NO. 3 TO 

2000 STOCK OPTION/STOCK ISSUANCE PLAN 

OF 

ZIPCAR, INC. 

The 2000 Stock Option/Stock Issuance Plan (the “2000 Plan”) of Zipcar, Inc., as amended, be, and hereby is further amended as
follows: 
 1. Section 5 is deleted in its entirety and the following is substituted in its place: 

“5. Stock. The stock subject to Options, Awards and Purchases shall be authorized but unissued shares of common stock of the
Company (“Common Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of shares which may be issued under the Plan is Seven Million (7,000,000) subject to adjustment as provided in Paragraph
14. If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, or if the Company shall reacquire any nonvested shares
issued pursuant to Awards or Purchases, the unpurchased shares subject to such Option, or such nonvested shares so reacquired shall again be available for grants of Stock Rights under the Plan.” 

Adopted by the Board of Directors on September     , 2005 

Adopted by the Stockholders on September     , 2005 

 AMENDMENT NO. 4 TO 

2000 STOCK OPTION/STOCK ISSUANCE PLAN 

OF 

ZIPCAR, INC. 

The 2000 Stock Option/Stock Issuance Plan (the “2000 Plan”) of Zipcar, Inc., as amended, be, and hereby is further amended as
follows: 
 1. Section 5 is deleted in its entirety and the following is substituted in its place: 

“5. Stock. The stock subject to Options, Awards and Purchases shall be authorized but unissued shares of common stock of the
Company (“Common Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of shares which may be issued under the Plan is eight million one hundred thousand (8,100,000) subject to adjustment as
provided in Paragraph 14. If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, or if the Company shall reacquire any
nonvested shares issued pursuant to Awards or Purchases, the unpurchased shares subject to such Option, or such nonvested shares so reacquired shall again be available for grants of Stock Rights under the Plan.” 

Adopted by the Board of Directors on October 20, 2005 

Adopted by the Stockholders on October 26, 2005 

 AMENDMENT NO. 5 TO 

2000 STOCK OPTION/STOCK ISSUANCE PLAN 

OF 

ZIPCAR, INC. 

The 2000 Stock Option/Stock Issuance Plan (the “2000 Plan”) of Zipcar, Inc., as amended, be, and hereby is further amended as
follows: 
 1. Section 5 is deleted in its entirety and the following is substituted in its place: 

“5. Stock. The stock subject to Options, Awards and Purchases shall be authorized but unissued shares of common stock of the
Company (“Common Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of shares which may be issued under the Plan is 9,100,000 subject to adjustment as provided in Paragraph 14. If any Option
granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, or if the Company shall reacquire any nonvested shares issued pursuant to
Awards or Purchases, the unpurchased shares subject to such Option, or such nonvested shares so reacquired shall again be available for grants of Stock Rights under the Plan.” 

Adopted by the Board of Directors on October 31, 2007 

Adopted by the Stockholders on October 31, 2007 

 AMENDMENT NO. 6 TO 

2000 STOCK OPTION/STOCK ISSUANCE PLAN 

OF 

ZIPCAR, INC. 

The 2000 Stock Option/Stock Issuance Plan (the “2000 Plan”) of Zipcar, Inc., as amended, be, and hereby is further amended as
follows: 
 1. Section 5 is deleted in its entirety and the following is substituted in its place: 

“5. Stock. The stock subject to Options, Awards and Purchases shall be authorized but unissued shares of common stock of the
Company (“Common Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of shares which may be issued under the Plan is 12,600,000, subject to adjustment as provided in Paragraph 14. If any Option
granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, or if the Company shall reacquire any nonvested shares issued pursuant to
Awards or Purchases, the unpurchased shares subject to such Option, or such nonvested shares so reacquired shall again be available for grants of Stock Rights under the Plan.” 

Adopted by the Board of Directors on June 4, 2008 

Adopted by the Stockholders on June 10, 2008

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