Document:

Exhibit 10.1

 

COMMON STOCK PURCHASE AGREEMENT

 

This Common
Stock Purchase Agreement (the “Agreement”), dated as of September 19, 2022 (the “Execution Date”), is entered
into between Edgemode, Inc., a Nevada corporation (the “Company”), and Alumni Capital LP, a Delaware limited partnership (the
“Investor”).

 

RECITALS:

 

WHEREAS,
upon the terms and subject to the conditions contained herein, the Investor shall be obligated to purchase up to Fifteen Million Dollars
($15,000,000) of Common Stock after a Registration Statement is declared effective by the Securities and Exchange Commission (“SEC”),
pursuant to the terms and subject to the conditions set forth in this Agreement;

 

NOW THEREFORE,
in consideration of the foregoing recitals, which shall be considered an integral part of this Agreement, the covenants and agreements
set forth hereafter, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company
and the Investor hereby agree as follows:

 

SECTION
I DEFINITIONS

 

For all purposes
of and under this Agreement, the following terms shall have the respective meanings below, and such meanings shall be equally applicable
to the singular and plural forms of such defined terms.

 

Average Daily Trading Volume” means
the average number of shares traded within a day.

 

“Business Day” shall
mean any day on which the Principal Market for the Common Stock is open for trading from the hours of 9:30 am until 4:00 pm eastern time.

 

“Closing Date” shall mean
a date that is no later than five (5) Business Days after the Purchase Notice Date.

 

“Commitment Period”
shall mean the period beginning on the Execution Date and ending on the expiration or termination of this Agreement.

 

“Common Stock” means
the Company’s common stock and any other class of securities into which such securities may hereafter be reclassified or changed.

 

“Principal Market” shall
mean the New York Stock Exchange, the NYSE Amex, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market
or the OTC Markets, whichever is the market on which the Common Stock is listed.

 

“Purchase Notice” shall
mean the written notice sent to the Investor by the Company stating the number of Common Stock that the Company intends to sell to the
Investor pursuant to the terms of this Agreement.

 

“Purchase Notice Limit”
shall mean the maximum amount of Common Stock the Company may request the Investor to purchase per each Purchase Notice shall be the lesser
of: (i) two hundred fifty percent (250%) of the Average Daily Trading Volume five (5) Business Days prior to the Purchase Notice or (ii)
$500,000.

 

 

 

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“Investment Amount”
shall mean the Common Stock in a Purchase Notice multiplied by: (i) eighty percent (80%) of the lowest daily Volume-Weighted Average Price
of the Common Stock five Business Days prior to the Closing Date.

 

“Registration Statement”
shall have the meaning set forth in Section 7.1 below.

 

“Securities” shall mean,
collectively, the Common Stock issued pursuant to the terms of this Agreement, including the Commitment Shares.

 

SECTION II

PURCHASE AND SALE OF SECURITIES

 

2.1 
PURCHASE AND SALE OF SECURITIES. Subject to the terms and conditions set forth herein, the Company shall sell to the Investor,
and the Investor shall purchase from the Company, a number of shares of Common Stock having an aggregate value of Fifteen Million Dollars
($15,000,000).

 

2.2 
DELIVERY OF PURCHASE NOTICES. Subject to the terms and conditions herein, including without limitation Section 7 below,
and from time to time during the Commitment Period, the Company may, in its sole discretion, deliver a Purchase Notice to the Investor
which states the amount of Securities which the Company intends to sell to the Investor on a Closing, provided that the Common Stock in
each Purchase Notice shall not exceed the Purchase Notice Limit. No Purchase Notice shall be sent if the Volume-Weighted Average Price
of Securities is at or below $0.01 during the five Business Days prior to the delivery of a Purchase Notice. The Purchase Notice shall
be in the form attached hereto and incorporated herein by reference. During the Commitment Period, the Company shall not submit a Purchase
Notice until the previous Closing has been completed. No Purchase Notice will be made in an amount less than twenty-five thousand dollars
($25,000) or greater than the Purchase Notice Limit.

 

2.3 
MECHANICS OF PURCHASE OF SECURITIES BY INVESTOR. The Closing of a Purchase Notice shall occur no later than the five (5)
Business Days following receipt of Securities by Investor’s custodian (the “Purchase Notice Date”). The Investor shall
deliver the Investment Amount (less $5,000 for clearing fees) by wire transfer of immediately available funds to an account designated
by the Company one (1) Business Day after the Closing Date. In addition, on or prior to such Closing, each of the Company and Investor
shall deliver to each other all documents, instruments and writings required to be delivered or reasonably requested by either of them
pursuant to this Agreement in order to implement and effect the transactions contemplated herein.

 

2.4 
LIMITATION ON AMOUNT OF OWNERSHIP. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor
be entitled to purchase that number of Securities, which when added to the sum of the number of Common Stock beneficially owned (as such
term is defined under Section 13(d) and Rule 13d- 3 of the Securities Exchange Act of 1934, as amended (the “1934 Act”)),
by the Investor, would exceed 9.99% of the Common Stock outstanding on the Purchase Notice Date, as determined in accordance with Rule
13d-1(j) of the 1934 Act.

 

 

 

 

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SECTION III

INVESTOR’S REPRESENTATIONS,
WARRANTIES AND COVENANTS

 

NO SHORT SALES. No short sales shall be permitted by
the Investor or its affiliates during the Commitment Period.

 

SECTION IV

REPRESENTATIONS AND WARRANTIES
OF THE COMPANY

 

Except as disclosed on the Company’s SEC Documents,
the Company represents and warrants to the Investor that:

 

4.1 
ORGANIZATION AND QUALIFICATION. The Company is a corporation duly organized and validly existing in good standing under
the laws of the State of Nevada, and has the requisite corporate power and authorization to own its properties and to carry on its business
as now being conducted. Both the Company and the companies it owns or controls (“Subsidiaries”) are duly qualified to do business
and are in good standing in every jurisdiction in which its ownership of property or the nature of the business conducted by it makes
such qualification necessary, except to the extent that the failure to be so qualified or be in good standing would not have a Material
Adverse Effect. As used in this Agreement, “Material Adverse Effect” means a change, event, circumstance, effect or state
of facts that has had or is reasonably likely to have, a material adverse effect on the business, properties, assets, operations, results
of operations, financial condition or prospects of the Company and its Subsidiaries, if any, taken as a whole, or on the transactions
contemplated hereby or by the agreements and instruments to be entered into in connection herewith, or on the authority or ability of
the Company to perform its obligations under the Agreement.

 

 4.2 AUTHORIZATION; ENFORCEMENT; COMPLIANCE WITH OTHER INSTRUMENTS.

 

	 	i.	The Company has the requisite corporate power and authority to enter into the Agreement and to issue the Securities in accordance with the terms hereof.
	 	 	 
	 	ii.	
    The execution and delivery of the Agreement by the Company

    and the consummation by it of the transactions contemplated
    hereby and thereby, including without limitation the issuance of the Securities pursuant to this Agreement, have been duly and validly

    authorized by the Company’s Board of Directors and
    no further consent or authorization is required by the Company, its Board of Directors, or its shareholders.

	 	 	 
	 	iii.	The Agreement has been duly and validly executed and delivered by the Company.
	 	 	 
	 	iv.	
    The Agreements constitutes the valid and binding obligations
    of the

    Company enforceable against the Company in accordance with
    their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization,
    moratorium, liquidation or similar laws relating to, or affecting generally, the

    enforcement of creditors’ rights and remedies.

 

4.3 
ISSUANCE OF SECURITIES. The Company has reserved the amount of Securities included in the Company’s registration statement
for issuance pursuant to the Agreement, which have been duly authorized and reserved (subject to adjustment pursuant to the Company’s
covenant set forth in Section 5.5 below) pursuant to this Agreement. Upon issuance in accordance with this Agreement, the Securities,
including the Commitment Shares, will be validly issued, fully paid for and non-assessable and free from all taxes, liens and charges
with respect to the issuance thereof. In the event the Company cannot register a sufficient number of Securities for issuance pursuant
to this Agreement, the Company will use its best efforts to authorize and reserve for issuance the number of Securities required for the
Company to perform its obligations hereunder as soon as reasonably practicable.

 

 

 

 

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 4.4 INTENTIONALLY OMITTED.

 

4.5 
DILUTIVE EFFECT. The Company understands and acknowledges that the number of Securities issuable upon purchases pursuant
to this Agreement will increase in certain circumstances including, but not necessarily limited to, the circumstance wherein the trading
price of the common stock declines during the Commitment Period. The Company’s executive officers and directors have studied and
fully understand the nature of the transactions contemplated by this Agreement and recognize that they have a potential dilutive effect
on the shareholders of the Company. The Board of Directors of the Company has concluded, in its good faith business judgment, and with
full understanding of the implications, that such issuance is in the best interests of the Company. The Company specifically acknowledges
that, subject to such limitations as are expressly set forth in the Agreement, its obligation to issue Securities upon purchases pursuant
to this Agreement is absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership interests
of other shareholders of the Company.

 

SECTION V
COVENANTS OF THE COMPANY

 

5.1 
BEST EFFORTS. The Company shall use all commercially reasonable efforts to timely satisfy each of the conditions set forth
in this Agreement.

 

5.2 
REPORTING STATUS. Until one of the following occurs, the Company shall file all reports required to be filed with the SEC
pursuant to the 1934 Act, and the Company shall not terminate its status, or take an action or fail to take any action, which would terminate
its status as a reporting company under the 1934 Act: (i) this Agreement terminates pursuant to Section 6 and the Investor has
the right to sell all of the Securities without restrictions pursuant to Rule 144 promulgated under the 1933 Act, or such other exemption,
or (ii) the date on which the Investor has sold all the Securities.

 

5.3 
USE OF PROCEEDS. The Company will use the proceeds from the sale of the Securities for general corporate and working capital
purposes and acquisitions or assets, businesses or operations or for other purposes that the Board of Directors, in good faith deem to
be in the best interest of the Company.

 

5.4  FINANCIAL
INFORMATION. During the Commitment Period, the Company agrees to make available to the Investor via EDGAR or other electronic
means the following documents and information on the forms set forth: (i) within five (5) Business Days after the filing thereof
with the SEC, a copy of its Annual Reports on Form 10-K, its Quarterly Reports on Form 10-Q, any Current Reports on Form 8-K and any
Registration Statements or amendments filed pursuant to the 1933 Act; (ii) copies of any notices and other information made
available or given to the shareholders of the Company generally, contemporaneously with the making available or giving thereof to
the shareholders; and (iii) within two (2) calendar days of filing or delivery thereof, copies of all documents filed with, and all
correspondence sent to, the Principal Market, any securities exchange or market, or the Financial Industry Regulatory Association,
unless such information is material nonpublic information.

 

5.5 
RESERVATION OF SECURITIES. The Company shall take all action necessary to at all times have authorized, and reserved the
amount of Securities included in the Company’s registration statement for issuance pursuant to the Agreement. In the event that
the Company determines that it does not have a sufficient number of common stock to reserve and keep available for issuance as described,
the Company shall use all commercially reasonable efforts to increase the number of common stock by seeking shareholder approval.

 

5.6  
ISSUANCE OF COMMITMENT SHARES. In consideration for the Investor’s execution and delivery of this Agreement, the Company
shall cause to be issued to the Investor 2,521,008 shares of Common Stock, which is equal to 2% of the Commitment Amount divided by volume-weighted
average price of Common Stock during the five day period prior to the Execution Date, (collectively, the “Commitment Shares”),
with attendant and applicable Irrevocable Transfer Agent Instructions. For the avoidance of doubt, all of the Commitment Shares shall
be fully earned as of the Execution Date, whether or not any Purchase Notice is issued or any Common Stock is purchased by the Investor
under this Agreement and irrespective of any termination of this Agreement.

 

5.7 
LISTING. The Company shall maintain the listing of the common stock on the Principal Market and each other national securities
exchange and automated quotation system, if any, upon which common stock are then listed (subject to official notice of issuance) and
shall maintain, such listing of all common stock from time to time issuable under the terms of the Agreement. Neither the Company nor
any of its Subsidiaries shall take any action which would be reasonably expected to result in the delisting or suspension of the common
stock on the Principal Market (excluding suspensions of not more than one (1) Business Day resulting from business announcements by the
Company). The Company shall promptly provide to the Investor copies of any notices it receives from the Principal Market regarding the
continued eligibility of the common stock for listing on such automated quotation system or securities exchange. The Company shall pay
all fees and expenses in connection with satisfying its obligations under this Section 5.7.

 

 

 

 

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5.8 
CORPORATE EXISTENCE. The Company shall use all commercially reasonable efforts to preserve and continue the corporate existence
of the Company.

 

5.9 NOTICE
OF CERTAIN EVENTS AFFECTING REGISTRATION; SUSPENSION OF RIGHT TO SUBMIT A PURCHASE NOTICE. The Company shall promptly notify the
Investor upon the occurrence of any of the following events in respect of a Registration Statement or related prospectus in respect
of an offering of the Securities: (i) receipt of any request for additional information by the SEC or any other federal or state
governmental authority during the period of effectiveness of the Registration Statement for amendments or supplements to the
Registration Statement or related prospectus; (ii) the issuance by the SEC or any other federal or state governmental authority of
any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for that purpose;
(iii) receipt of any notification with respect to the suspension of the qualification or exemption from qualification of any of the
Securities for sale in any jurisdiction or the initiation or notice of any proceeding for such purpose; (iv) the happening of any
event that makes any statement made in such Registration Statement or related prospectus or any document incorporated or deemed to
be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration
Statement, related prospectus or documents so that, in the case of a Registration Statement, it will not contain any untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein not misleading, and that in the case of the related prospectus, it will not contain any untrue statement of a material fact
or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; and (v) the Company’s reasonable determination that a post-effective
amendment or supplement to the Registration Statement would be appropriate, and the Company shall promptly make available to
Investor any such supplement or amendment to the related prospectus.

 

5.10 
TRANSFER AGENT. The Company shall deliver instructions to its transfer agent to issue Securities to the Investor that are
issued to the Investor pursuant to the Transaction Documents.

 

5.12 ACKNOWLEDGEMENT
OF TERMS. The Company hereby represents and warrants to the Investor that: (i) it is voluntarily entering into this Agreement of its
own freewill, (ii) it is not entering this Agreement under economic duress, (iii) the terms of this Agreement are reasonable and fair
to the Company, and (iv) the Company has had independent legal counsel of its own choosing review this Agreement, advise the Company with
respect to this Agreement, and represent the Company in connection with this Agreement.

 

SECTION
VI

EXPIRATION

 

This Agreement shall expire either upon:

 

6.1  
when the Investor has purchased Fifteen Million Dollars ($15,000,000) of Securities pursuant to this Agreement; or

 

 6.2 December 31, 2023.

 

The Company may terminate this Agreement at any time by
written notice to the Investor.

SECTION VII

CONDITIONS TO THE INVESTOR’S
OBLIGATION TO PURCHASE COMMON STOCK

 

The Company shall not be entitled
to deliver any Purchase Notice to the Investor, and the Investor shall have no obligation to accept or close upon any Purchase Notice,
unless each of the following conditions has been satisfied as of the date of such Purchase Notice:

 

 

 

 

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7.1 
REGISTRATION STATEMENT. The Company shall use its reasonable best efforts to file a registration statement for the resale
of the Securities not later than twenty (20) Business Days following the Execution Date (the “Filing Date”), which shall be
filed on such form as the Company can qualify to use (the parties understanding that the Form S-3 is preferable to the Form S-1) as set
forth in this section (the “Registration Statement”). The term “Registration Statement” shall include any prospectus,
amendments and supplements to such registration statement or prospectus, including pre- and post-effective amendments, all exhibits thereto,
and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. If Form S-3 is not
available for the registration of the resale of Securities hereunder, the Company shall (i) register the resale of the Securities on another
appropriate form and (ii) undertake to register the Securities on Form S-3 as soon as such form is available, provided that the Company
shall maintain the effectiveness of the Registration Statement then in effect until such time as a registration statement on Form S-3
covering the Registrable Securities has been declared effective by the SEC. The Company shall use best efforts to cause a Registration
Statement filed under this Agreement to be declared effective under the Securities Act of 1933 (the “Securities Act”) as soon
as possible after its filing, and shall use its best efforts to keep such Registration Statement continuously effective under the Securities
Act until all Securities have been sold, thereunder or pursuant to Rule 144. The Company shall immediately notify the Investor in writing
of the effectiveness of a Registration Statement on the same Business Day that the Company telephonically confirms effectiveness with
the SEC (the “Effective Date”), which shall be the date requested for effectiveness of such Registration Statement. The Company
shall, by 9:30 a.m. Eastern Time on the Business Day after the Effective Date, file a final Prospectus with the SEC as required by Rule
424. The Registration Statement covering the resale of the Securities shall have been declared effective under the Securities Act by the
SEC and stay effective at all times during the Commitment Period.

 

7.2  LISTING.
The Common Stock shall be listed or quoted on the Principal Market, trading in the Common Stock shall not have been within the last
365 days suspended by the SEC or the Principal Market for one or more Business Days, and all Securities to be issued by the Company to
the Investor pursuant to this Agreement shall have been, approved for listing or quotation on the Principal Market in accordance
with the applicable rules and regulations of the Principal Market.

 

7.3 
REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company shall be true and correct in all material
aspects as of the date hereof and as of the Execution Date as though made at that time and the Company shall have performed, satisfied
and complied with the covenants, agreements and conditions required by this Agreement to be performed, satisfied, or compiled by the Company
at or prior to the Execution Date. The Investor shall have received a certificate, executed by the CEO, President or CFO of the Company,
dated as of the Execution Date, to the foregoing effect in the form attached hereto as Exhibit A.

 

7.4 
COMMITMENT SHARES. Subject to Rule 144 under the Securities Act or the Registration Statement being declared effective,
the Company shall have (i) caused the Commitment Shares to be delivered as DWAC or DRS Shares and (ii) removed all restrictive and other
legends from the certificates or book-entry statements representing the Commitment Shares.

 

7.5   
SECRETARY’S CERTIFICATE. The Company shall have delivered to the Investor a secretary’s certificate executed
by the Secretary of the Company, dated as of the Execution Date, in the form attached hereto as Exhibit B.

 

SECTION VIII

TRANSFER AGENT INSTRUCTIONS

 

8.1  
Transfer Agent Instructions. On the Execution Date and on the Filing Date, the Company shall issue irrevocable instructions
to the Transfer Agent substantially in the form attached hereto as Exhibit C to issue the Commitment Shares in accordance with the terms
of this Agreement (the “Irrevocable Transfer Agent Instructions”).

 

 

 

 

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8.2 
ISSUANCE. At such time that the Investor shall request, provided all conditions of Rule 144 under the Securities Act are
met, the Company shall, no later than one (1) Business Day following the delivery by the Investor to the Company or the Transfer Agent
of one or more legended certificates or book-entry statements representing the Commitment Shares (which certificates or book-entry statements
the Investor shall promptly deliver on or prior to the first to occur of the events described in clauses (i) and (ii) of this sentence),
as directed by the Investor, issue and deliver (or cause to be issued and delivered) to the Investor, as requested by the Investor, either:
(A) a certificate or book-entry statement representing such Commitment Shares that is free from all restrictive and other legends or (B)
a number of shares of Common Stock equal to the number of Commitment Shares represented by the certificate(s) or book-entry statement(s)
so delivered by the Investor as DWAC or DRS Shares. The Company shall take all actions to carry out the intent and accomplish the purposes
of the immediately preceding sentence, including, without limitation, delivering all such legal opinions, consents, certificates, resolutions
and instructions to the Transfer Agent, and any successor transfer agent of the Company, as may be requested from time to time by the
Investor or necessary or desirable to carry out the intent and accomplish the purposes of the immediately preceding sentence. On the Execution
Date, the Company shall issue to the Transfer Agent, and any subsequent transfer agent, irrevocable instructions in the form substantially
similar to those used by the Investor in substantially similar transactions (the “Execution Irrevocable Transfer Agent Instructions”)
to issue the Securities in accordance with the terms of this Agreement. All Securities to be issued from and after the Execution Date
to or for the benefit of the Investor pursuant to this Agreement shall be issued only as DWAC or DRS Shares. The Company represents and
warrants to the Investor that, while this Agreement is effective, no instruction other than the Execution Irrevocable Transfer Agent Instructions
will be given by the Company to the Transfer Agent with respect to the Commitment Shares or the Securities from and after Commencement,
and the Securities covered by the Registration Statement shall otherwise be freely transferable on the books and records of the Company.
The Company agrees that if the Company fails to fully comply with the provisions within five (5) Business Days of the Investor providing
the deliveries referred to above, the Company shall, at the Investor’s written instruction, purchase such shares of Common Stock
containing the Restrictive Legend from the Investor at the greater of the (i) Purchase Price paid for such shares of Common Stock (as
applicable) and (ii) the Closing Sale Price of the Common Stock on the date of the Investor’s written instruction. Notwithstanding
anything to the contrary in this Agreement, the issuance of shares via DWAC or DRS or without a restrictive legend shall be subject to
Rule 144 under the Securities Act or the shares being registered under an effective registration statement.

 

SECTION IX

INDEMNIFICATION

 

In consideration
of the mutual obligations set forth in the Agreement, the Company (the “Indemnitor”) shall defend, protect, indemnify and
hold harmless the Investor and all of the investor’s shareholders, officers, directors, employees, counsel, and direct or indirect
investors and any of the foregoing person’s agents or other representatives (including, without limitation, those retained in connection
with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”) from and against any and all actions,
causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and reasonable expenses in connection therewith
(irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable
attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising
out of, or relating to (I) any misrepresentation or breach of any representation or warranty made by the Indemnitor or any other certificate,
instrument or document contemplated hereby or thereby; (II) any breach of any covenant, agreement or obligation of the Indemnitor contained
in the Agreement or any other certificate, instrument or document contemplated hereby or thereby; or (III) any cause of action, suit or
claim brought or made against such Indemnitee by a third party and arising out of or resulting from the execution, delivery, performance
or enforcement of the Agreement or any other certificate, instrument or document contemplated hereby or thereby, except insofar as any
such misrepresentation, breach or any untrue statement, alleged untrue statement, omission or alleged omission is made in reliance upon
and in conformity with information furnished to Indemnitor which is specifically intended for use in the preparation of any such Registration
Statement, preliminary prospectus, prospectus or amendments to the prospectus. To the extent that the foregoing undertaking by the Indemnitor
may be unenforceable for any reason, the Indemnitor shall make the maximum contribution to the payment and satisfaction of each of the
Indemnified Liabilities which is permissible under applicable law. The indemnity provisions contained herein shall be in addition to any
cause of action or similar rights Indemnitor may have, and any liabilities the Indemnitor or the Indemnitees may be subject to.

 

 

 

 

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SECTION X

GOVERNING LAW; DISPUTES SUBMITTED
TO ARBITRATION

 

10.1 
LAW GOVERNING THIS AGREEMENT. This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions
contemplated by this Agreement shall be brought only in the state or federal courts located in New York, New York. The parties to this
Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any
defense based on lack of jurisdiction or venue or based upon forum non conveniens. The parties executing this Agreement and other agreements
referred to herein or delivered in connection herewith on behalf of the Company agree to submit to the in personam jurisdiction of such
courts and hereby irrevocably waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable
attorney’s fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith
is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent
that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may
prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement.
Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Agreement by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any
other manner permitted by law.

 

10.2  LEGAL
FEES; AND MISCELLANEOUS FEES. Except as otherwise set forth in the Agreement, each party shall pay the fees and expenses of its
advisers, counsel, the accountants and other experts, if any, and all other expenses incurred by such party incident to the
negotiation, preparation, execution, delivery and performance of this Agreement. Any attorneys’ fees and expenses incurred by
either the Company or the Investor in connection with the preparation, negotiation, execution and delivery of any amendments to this
Agreement or relating to the enforcement of the rights of any party, after the occurrence of any breach of the terms of this
Agreement by another party or any default by another party in respect of the transactions contemplated hereunder, shall be paid on
demand by the party which breached this Agreement and/or defaulted, as the case may be. The Company shall pay all stamp and other
taxes and duties levied in connection with the issuance of any Securities.

 

10.3 
SURVIVAL. The representations and warranties of the Company and the Investor contained in this Agreement shall survive the
Closing and the expiration of this Agreement.

 

10.4 
PRICING OF SECURITIES. For purposes of this Agreement, the Investment Amount shall be as reported by Investor.

 

SECTION XI

NON-DISCLOSURE OF NON-PUBLIC
INFORMATION

 

The
Company shall not disclose non-public information to the Investor except as otherwise required by the SEC.

 

 

 

 

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Your signature
on this Signature Page evidences your agreement to be bound by the terms and conditions of this Agreement as of the date first written
above. The undersigned signatory hereby certifies that he has read and understands this Agreement, and the representations made by the
undersigned in this Agreement are true and accurate, and agrees to be bound by its terms.

 

COMPANY:

 

	
    EDGEMODE, INC.

     

     

    By:

    Name: Charlie Faulkner

    Title: Chief Executive
Officer

     

    INVESTOR:

	
     

    ALUMNI CAPITAL LP

     

    By: Alumni Capital GP LLC, it’s General Partner

    Ashkan Mapar

    By: Ashkan
    Mapar (Sep 19, 2022 16:57 EDT)

    

    Name: Ashkan Mapar Title: General
    Partner

     

    By: Alumni Capital Management LLC, it’s Investment
    Manager

     

    Ashkan Mapar

    By: _Ashkan
    Mapar (Sep 19, 2022 16:57 EDT)

    Name: Ashkan Mapar

    Title: Portfolio Manager

 

 

 

 

 

 

 

 

 

 

 

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PURCHASE NOTICE

 

Date__________

 

ALUMNI CAPITAL LP,

 

This is to inform you that as of today the Company
hereby elects to exercise its right pursuant to this Agreement to sell you ___________ Securities.

 

Regards,

 

Edgemode, Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	10ex101-lubenxofferlettera

      US-DOCS\134927895.5    BIRD RIDES, INC.    Ben Lu  September 21, 2022  Dear Mr. Lu,  Bird Rides, Inc., a Delaware corporation (the “Company”), is pleased to offer you employment  with the Company on the terms described in this Employment Letter Agreement (this “Letter”),  commencing as of the Start Date set forth on the signature page hereto (the “Start Date”).   1. Position. You shall, effective as of the Start Date, serve as Chief Financial Officer of Bird  Global, Inc. (“Parent”) and you shall perform such employment duties as are usual and customary for such  position and/or as otherwise directed by the Company. You will report to Parent’s President (currently  Shane Torchiana). In addition to the foregoing, you shall serve the Company, Parent and/or any of their  respective subsidiaries or affiliates in such other capacities as the Company may request from time to time,  without additional compensation. By signing this Letter, you confirm with the Company that you are under  no contractual or other legal obligations that would prohibit you from performing your duties with the  Company. This position is considered exempt for purposes of applicable wage and hour laws, which means  that you are not eligible for overtime pay under state and federal laws.    2. Compensation.      (a) Base Salary.  Effective as of the Start Date, you will be paid an annual base salary  (“Base Salary”) at the rate of $500,000 per year, payable on the Company’s regular payroll dates and pro- rated for any partial year of service (including, for clarity, calendar year 2022).     (b) Equity Award.      (i) RSU Award.  Subject to the approval of Parent’s Board of Directors (the  “Board”), or a subcommittee of the Board, you will be granted an award of Restricted Stock Units (“RSUs”)  covering 2,500,000 shares of Parent’s Class A common stock (the “RSU Award”). Unless otherwise  specified, the grant date shall be the date that the Board (or a subcommittee of the Board, as applicable)  approves the grant of such RSUs. The RSU Award will be subject to the terms and conditions contained in  Parent’s 2021 Incentive Award Plan (the “2021 Plan”), and the applicable RSU award agreement in a form  prescribed by Parent, which shall be consistent in all respects with the terms herein, and which you will be  required to sign. The RSU Award will vest with respect to 1/12 of the RSUs on each of the first 12 quarterly  anniversaries of September 1, 2022, subject to your continued employment with the Company through the  applicable vesting date.    (ii) Future RSU Award(s).  In addition, if Parent achieves specified stock price  goals outlined in Exhibit A attached hereto, Parent will grant you, subject to the approval of the Board or a  subcommittee thereof, one or more RSU awards (the “Performance-Vesting RSUs”). The Performance- Vesting RSUs will be subject to the terms and conditions contained in the 2021 Plan and the applicable  RSU award agreement(s) in a form prescribed by Parent, and will vest on a quarterly basis subject to your  continued employment with the Company over an 18-month period following the achievement of the  applicable performance goal.    (iii) Annual Equity Awards. Beginning in calendar year 2023, you will be  eligible to receive an annual equity-based compensation award as determined by the Board (or a  subcommittee thereof) from time to time.  The Board (or such subcommittee) will determine in its sole  DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619 

 

  2  US-DOCS\134927895.5  discretion the grant timing, amount, form(s) and mix, and such other terms and conditions, applicable to  any such annual equity-based compensation award.     (c) Performance Bonus.  For each of calendar years 2022, 2023 and 2024, you shall  be eligible to earn one or more cash performance bonuses (each, a “Performance Bonus”), as follows:    (i) Adjusted EBITDA.  You shall be eligible to earn (i) a Performance Bonus  equal to $9,375 for each calendar quarter in which the Company achieves positive Adjusted EBITDA (as  defined below), beginning with the third quarter of 2022; and (ii) an additional Performance Bonus equal  to $37,500 if the Company achieves positive Adjusted EBITDA for any three calendar quarters in the same  calendar year (i.e., in 2023 or in 2024), in each case, as determined by the Board or a subcommittee thereof.    In no event shall more than $75,000 be payable to you with respect to any one calendar year under this  Section 2(c)(i).  For purposes of this Letter, “Adjusted EBITDA” means, with respect to the applicable  period, Adjusted EBITDA as reported in the applicable earnings release attached as an exhibit to the  Company’s Current Report on Form 8-K for the applicable period.    (ii) Free Cash Flow.  You shall be eligible to earn (i) a Performance Bonus  equal to $18,750 for each calendar quarter during which the Company achieves positive Free Cash Flow  (as defined below), beginning with the third quarter of 2022; and (ii) an additional Performance Bonus  equal to $75,000 if the Company achieves positive Free Cash Flow for any three calendar quarters in the  same calendar year (i.e., in 2023 or in 2024), in each case, as determined by the Board or a subcommittee  thereof.   In no event shall more than $150,000 be payable to you with respect to any one calendar year  under this Section 2(c)(ii).  For purposes of this Letter, “Free Cash Flow” means, with respect to an  applicable period, (1) Free Cash Flow as reported in the applicable earnings release attached as an exhibit  to the Company’s Current Report on Form 8-K for the applicable period or (2) if Free Cash Flow is not  specifically reported in the applicable earnings release, (x) net cash provided by operating activities, less  (y) purchases of vehicles, each as reported in the applicable earnings release attached as an exhibit to the  Company’s Current Report on Form 8-K for the applicable period.    (iii) YOY Net Revenue.  You shall be eligible to earn (i) a Performance Bonus  equal to $28,125 if the Company’s Net Revenue (as defined below) increases by 30% or more year-over- year from calendar year 2022 to calendar year 2023 (the “2023 YOY Net Revenue Goal”); and (ii) an  additional Performance Bonus equal to $28,125 if the Company’s Net Revenue increases by 30% or more  year-over-year from calendar year 2023 to calendar year 2024 (the “2024 YOY Net Revenue Goal” and,  together with the 2023 YOY Net Revenue Goal, the “YOY Net Revenue Goals”), as determined by the  Board or a subcommittee thereof; provided, however, that (x) any additional 2023 Net Revenue associated  with a corporate acquisition that is consummated in calendar year 2023 will be excluded for purposes of  calculating the level at which the 2023 YOY Net Revenue Goal is achieved and (y) any additional 2024  Net Revenue associated with a corporate acquisition that is consummated in calendar year 2024 will be  excluded for purposes of calculating the level at which the 2024 YOY Net Revenue Goal is achieved. In no  event shall more than $56,250 be payable to you under this Section 2(c).  For purposes of this Letter, “Net  Revenue” means, with respect to an applicable period, (x) revenue, less (y) contra revenue, each as reported  in the applicable earnings release attached as an exhibit to the Company’s Current Report on Form 8-K for  the applicable period; provided, that in no event shall “Net Revenue” include any additional revenues  related to a corporate acquisition that is consummated in calendar year 2022.    (iv) Additional Performance Bonus.  Without limiting anything set forth in this  Section 2, you also will be eligible to earn an additional $150,000 with respect to each of calendar year  2023 and calendar year 2024 if the Company achieves both (i) positive Adjusted EBITDA and positive  Free Cash Flow for any three calendar quarters in the same calendar year (i.e., in 2023 or in 2024); and (ii)  the YOY Net Revenue Goal for such calendar year, in each case, as determined by the Board or a  subcommittee thereof.  In no event shall more than $300,000 be payable to you under this Section 2(c)(iv).  DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619 

 

  3  US-DOCS\134927895.5    (v) Payment.  The payment of any Performance Bonus, to the extent any  Performance Bonus becomes payable, will be made within 45 days after the end of the applicable calendar  quarter or 75 days after the end of the applicable calendar year (as applicable), subject to your continued  employment with the Company through the applicable payment date.    (d) Signing Bonus.  The Company shall pay you a one-time cash signing bonus (the  “Signing Bonus”) in an amount equal to $375,000, payable in a lump-sum within 45 days following the  Start Date.  Notwithstanding the foregoing or anything to the contrary herein or in any other agreement,  you acknowledge and agree that if your employment with the Company terminates for any reason other  than due to a Qualifying Termination (as defined below) or due to your death or disability, in any case,  prior to the second anniversary of the Start Date, all or a portion of the Signing Bonus shall be repaid  promptly by you to the Company immediately upon demand therefor in an amount equal to:    (i) 100% of the Signing Bonus, if such termination occurs prior to the first  anniversary of the Start Date; and    (ii) 50% of the Signing Bonus, if such termination occurs on or after the first  anniversary of the Start Date and prior to the second anniversary of the Start Date.    You and the Company acknowledge and agree that the Signing Bonus (or the relevant portion  thereof) will not be earned unless and until you are continuously, actively employed with the Company  through the applicable anniversary of the Start Date.  However, if a Change in Control (as defined in the  2021 Plan) is consummated and you remain in continuous employment until immediately prior to the  Change in Control, you will be deemed earned in the entire Signing Bonus and you will not be required to  repay any portion of the Signing Bonus that remains subject to the above repayment provision.    3. Severance.      (a) Qualifying Termination. Subject to Section 3(b) below and your continued  compliance with the Confidentiality Agreement (as defined below), if your employment is terminated due  to a Qualifying Termination, then:    (i) the Company will pay you an amount equal to 12 months of your Base  Salary then in effect (the “Severance”), payable in substantially equal installments in accordance with the  Company’s normal payroll practices over the 12-month period following the termination date (the  “Severance Period”), with such installments commencing on the first regular payroll date following the  effective date of the Release (as defined below), and amounts otherwise payable prior to such first payroll  date shall be paid on such date without interest thereon;     (ii) subject to your valid election to continue healthcare coverage under  Section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”), the Company shall continue  to provide, during the COBRA Period (as defined below), you and your eligible dependents with coverage  under its group health plans at the same levels and same cost to you as would have applied if your  employment had not been terminated (and based on your elections in effect on the date of your termination),  provided, however, that (1) if any plan pursuant to which such benefits are provided is not, or ceases prior  to the expiration of the period of continuation coverage to be, exempt from the application of Section 409A  (as defined below); or (2) the Company is otherwise unable to continue to cover you under its group health  plans without incurring penalties (including without limitation, pursuant to Section 2718 of the Public  Health Service Act or the Patient Protection and Affordable Care Act), then, in either case, an amount equal  to each remaining Company subsidy shall thereafter be paid to you in substantially equal monthly  installments over the continuation coverage period (or the remaining portion thereof); and    DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619 

 

  4  US-DOCS\134927895.5    (iii) all outstanding Time Vesting Awards (as defined below) shall, to the  extent then-unvested, vest (and, as applicable, become exercisable) on an accelerated basis as of the  termination date with respect to the number of shares underlying the award that would have vested had you  remained in continuous employment during the Severance Period; provided, however, that, with respect to  any Time Vesting Award that vests on a quarterly basis, the number of Parent shares that become vested in  accordance with the foregoing shall be calculated assuming that the vesting schedule for such award is  monthly (rather than quarterly) over the vesting period from the applicable vesting commencement date.  Notwithstanding the foregoing, in the event that such Qualifying Termination occurs during the 24-month  period following the date on which a Change in Control is consummated, all of your then-outstanding Time  Vesting Awards shall, to the extent then-unvested, become fully vested (and, as applicable, exercisable) on  an accelerated basis as of the termination date.          In addition to the severance payments and benefits described in Section 3(a) above, you and the  Company acknowledge and agree that, following a Qualifying Termination of your employment, at the  Company’s request, you and the Company shall enter into an advisor or consulting agreement, pursuant to  which you will provide advisory and/or transition services to the Company and its affiliates for a period of  up to one year following the termination date, on terms and conditions determined by the Board or a  subcommittee thereof.    (b) Release.  Any severance payments and benefits described in Section 3(a) above  will be conditioned upon your timely execution and non-revocation of the Company’s standard separation  and release agreement, including a general release of all claims, in a form prescribed by the Company (the  “Release”), within 21 days (or, to the extent required by law, 45 days) following the termination date.  For  the avoidance of doubt, each Time Vesting Award shall remain outstanding and eligible to vest following  the termination date and shall actually vest and become non-forfeitable upon the effectiveness of the  Release.  Any payments subject to Section 409A that are subject to execution of the Release which may be  executed and/or revoked in a calendar year following the calendar year in which the payment event (such  as termination of employment) occurs shall commence payment only in the calendar year in which the  consideration period or, if applicable, release revocation period ends, as necessary to comply with Section  409A.    (c) Performance Awards.  Any Parent equity compensation awards that are or remain  subject to the achievement of performance conditions (i.e., other than continued service) as of the  termination date (including any Performance-Vesting RSUs that have not yet been granted because the  applicable performance goal has not yet been achieved) shall be forfeited and terminated without  consideration therefor.    (d) Certain Definitions.  For purposes of this Letter:  (i) “Cause” shall have the meaning set forth in the 2021 Plan.  (ii) “COBRA Period” shall mean the period beginning on the date of your  Qualifying Termination and ending on the earlier of (x) the last day of the Severance Period and (y) the  date on which you become eligible to receive benefits under a “group health plan” (within the meaning of  Section 4980B of the Code) of a subsequent employer.  (iii) “Good Reason” shall mean the occurrence of any one or more of the  following events without your prior written consent unless the Company fully corrects the circumstances  constituting Good Reason (provided such circumstances are capable of correction): (1) a material reduction  in your Base Salary, other than a reduction up to 10% in connection with an across-the-board reduction  affecting all similarly situated executives of the Company; (2) a material diminution of your title, authority,  duties or responsibilities, excluding for this purpose any isolated, insubstantial or inadvertent actions not  DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619 

 

  5  US-DOCS\134927895.5  taken in bad faith and which are remedied by the Company promptly after receipt of notice thereof given  by you; (3) a relocation of your principal workplace (which may include your personal residence) by more  than 35 miles; (4) a material breach by the Company or any of its affiliates of this Letter; or (5) a requirement  that you report to any person other than the President or the Chief Executive Officer of the Company (other  than temporarily or as required by applicable law).  Notwithstanding the foregoing, you will not be deemed  to have resigned your employment for Good Reason unless (x) you provide the Company with written  notice setting forth in reasonable detail the facts and circumstances you claim to constitute Good Reason  within 90 days after the date of the occurrence of any event that you know or should reasonably have known  to constitute Good Reason; (y) the Company fails to cure such acts or omissions within 30 days following  its receipt of such notice; and (z) the effective date of your resignation for Good Reason occurs no later  than 60 days after the expiration of the Company’s cure period.  (iv) “Qualifying Termination” shall mean a termination of your employment  (1) by the Company without Cause (other than by reason of your death or disability) or (2) by you for Good  Reason.  (v) “Time Vesting Awards” shall mean all outstanding Parent equity awards  that vest solely on the passage of time that are held by you on the termination date (including, for clarity,  (x) any then-unvested RSUs underlying the RSU Award and (y) any then-unvested Performance-Vesting  RSUs (to the extent then-outstanding) that, as of the termination date, have satisfied the applicable  performance goal (but which remain subject to time-based vesting conditions)).    (e) No Other Rights.  Except as expressly provided in this Section 3(a), you shall not  be entitled to any additional payments or benefits upon or in connection with your termination of  employment.    4. Confidential Information and Invention Assignment Agreement.  Like all Company  employees, you will be required, as a condition of your employment with the Company, to sign the  Company’s standard Confidential Information and Invention Assignment Agreement (the “Confidentiality  Agreement”).    5. Employment Relationship. Your employment with the Company is for no specific period  of time.  Your employment with the Company will be “at will,” meaning that either you or the Company  may terminate your employment at any time and for any reason, with or without Cause.  At-will  employment also means that the Company may make decisions regarding other terms of employment at  any time with or without advance notice or cause, including but not limited to demotion, discipline,  promotion, transfer, compensation, and duties.  Any contrary representations which may have been made  to you are superseded by this offer.  This is the full and complete agreement between you and the Company  on this term.  Although your job duties, title, compensation and benefits, as well as the Company’s  personnel policies and procedures, may change from time to time, the “at will” nature of your employment  may only be changed in an express written agreement signed by you and Parent’s Chief Executive Officer.    6. Outside Activities.  While you render services to the Company, you agree that you will  not engage in any other employment, or any consulting or other business activity that competes or causes a  conflict of interest with the Company and/or the performance of your duties, without the written consent of  the Company.    7. Indemnification.  The Company will indemnify, defend, and hold you harmless to the  fullest extent provided in the Company’s Bylaws and other organizing documents, including the Certificate  of Incorporation and any separate, written indemnification agreement entered into by and between you and  the Company in the substantially the same form as provided to all other Company officers and directors.    DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619 

 

  6  US-DOCS\134927895.5  8. Taxes, Withholding and Required Deductions.  All forms of compensation referred to  in this Letter are subject to all applicable taxes, withholding and any other deductions required by applicable  law. You and the Company intend that any payments or benefits provided to you under this Letter or  otherwise will comply with Section 409A of the Code and the Department of Treasury regulations and other  guidance promulgated thereunder (“Section 409A”) to the extent not exempt therefrom.  No amount that is  deferred compensation subject to Section 409A of the Code shall be payable pursuant to this Letter unless  your termination of employment constitutes a “separation from service” from the Company within the  meaning of Section 409A.  For purposes of Section 409A, your right to receive any installment payments  under this Letter shall be treated as a right to receive a series of separate payments and, accordingly, each  such installment payment shall at all times be considered a separate and distinct payment.  Notwithstanding  the foregoing, no compensation or benefits, including without limitation any severance payments or benefits  described above, shall be paid to you during the six-month period following your “separation from service”  from the Company if the Company determines that paying such amounts at the time or times indicated in  this Letter would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code.  If the payment  of any such amounts is delayed as a result of the previous sentence, then on the first business day following  the end of such six-month period (or such earlier date upon which such amount can be paid under Section  409A without resulting in a prohibited distribution, including as a result of your death), the Company shall  pay you a lump-sum amount equal to the cumulative amount that would have otherwise been payable to  you during such period.     9. Employee Handbook.  Additionally, your acceptance of this offer of employment means  that you understand and agree to familiarize yourself with and adhere to the Company policies and  procedures which you will find in the Company Handbook.    10. No Tax Advice.  You acknowledge and agree that you have consulted with any tax advisors  that you deem advisable in connection with this Letter and the potential payments and other benefits  specified herein and that you are not relying on the Company, Parent or any of their respective subsidiaries,  affiliates, stockholders, directors, officers or employees, or any of their respective representatives, for tax  advice.    11. Arbitration. Like all Company employees, you will be required, as a condition of your  employment with the Company, to sign the Company’s Mutual Agreement to Arbitrate. Any disputes  concerning your employment, the terms of your employment, the termination of your employment, your  relationship with the Company, or the interpretation and application of this offer shall be resolved on an  individual basis through binding arbitration in accordance with the Mutual Agreement to Arbitrate.    12. Governing Law. The validity, interpretation, construction and performance of this Letter,  and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be  governed, construed and interpreted in accordance with the laws of State of California, without giving effect  to principles of conflicts of law.  13. Entire Agreement. This Letter, and the agreements referenced herein, set forth the entire  agreement and understanding of the parties hereto relating to the subject matter herein and supersedes all  prior or contemporaneous discussions, understandings and agreements, whether oral or written, between  them relating to the subject matter hereof.     14. Counterparts. This Letter may be executed in any number of counterparts, each of which  when so executed and delivered shall be deemed an original, and all of which together shall constitute one  and the same agreement.  Execution of a facsimile or PDF (or other electronic) copy will have the same  force and effect as execution of an original, and a facsimile or electronic signature will be deemed an  original and valid signature.    DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619 

 

  7  US-DOCS\134927895.5  15. Electronic Delivery. The Company may, in its sole discretion, decide to deliver any  documents or notices related to this Letter, securities of the Company or any of its affiliates or any other  matter, including documents and/or notices required to be delivered to you by applicable securities law or  any other law by email or any other electronic means. You hereby consent to (i) conduct business  electronically (ii) receive such documents and notices by such electronic delivery and (iii) sign documents  electronically and agree to participate through an on-line or electronic system established and maintained  by the Company or a third party designated by the Company.    If you wish to accept this offer, please sign and date and return to me. This offer is contingent upon (i) your  ability to provide proper work authorization to be employed by the Company and (ii) receiving applicable  background check results that meet standards based upon job duties and business necessity. Please note,  given ongoing delays and closures with certain public institutions in light of the COVID pandemic, we may  need to re-run your background check for certain jurisdictions once they are accessible. You will be notified  at that time and will be provided with the applicable disclosures, and asked to provide consent to run your  background check. You understand that your continued employment will be contingent upon receiving  applicable background check results that meet standards based upon job duties and business necessity at  that time. This means that if a potentially disqualifying record is revealed in the completed background  check, the Company may terminate your employment in accordance with applicable law. This offer, if not  accepted, will expire at the close of business on September 23, 2022.    [Signature Page Follows] DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619 

 

  [Signature Page to Offer Letter]        Please indicate your acknowledgement of, and agreement to, the terms and conditions set forth in this Letter  by signing and dating this Letter in the space provided below and returning the signed Letter to Brooke  Tandy.  We very much look forward to having you join us.  Very truly yours,         BIRD RIDES, INC.        Shane Torchiana   President and Chief Executive Officer        ACCEPTED AND AGREED:     Ben Lu              Anticipated Start Date: September 21, 2022  DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619 9/21/2022 

 

  Exhibit A-1  US-DOCS\134927895.5  EXHIBIT A  Grant of Performance-Vesting RSUs; General Vesting Schedule  Grant of RSUs.  Performance-Vesting RSUs will be granted to you in two separate tranches as set  forth in the table below (each, a “Tranche”), following the attainment of the applicable Price Per Share (as  defined below) goals set forth in the following table (each, a “Price Per Share Goal” and, the date on which  such Price Per Share Goal is attained (the “Vesting Commencement Date”)), in each case, subject to  approval by the Board or a subcommittee thereof.  Price Per Share Goal (1)  Number of   Granted  Performance- Vesting RSUs  Price Per Share is greater than or equal to $2.50 for any 10 Trading Days (as  defined below), which may or may not be consecutive, within any 20  consecutive Trading Day period within the Performance Period  1,000,000  Price Per Share is greater than or equal to $5.00 for any 10 Trading Days,  which may or may not be consecutive, within any 20 consecutive Trading Day  period within the Performance Period  500,000  (1)  Upon a Change in Control during the Performance Period, the Price Per Share shall be the CIC Price (as defined  below) and the Price Per Share Goal shall be measured without regard to the Trading Day period described in  the table above.  For the avoidance of doubt, (i) each Price Per Share Goal may be achieved only once during  the Performance Period and (ii) more than one Price Per Share Goal may be achieved on a particular date.   For example, if the first Price Per Share Goal of $2.50 per Share is satisfied on January 21, 2023, the Price  Per Share thereafter drops below such level and again reaches $2.50 per Share, then no additional  Performance-Vesting RSUs shall be granted with respect to the achievement of such Price Per Share Goal  a second time.  Service-Vesting Requirement.  Each Performance-Vesting RSU granted to you with respect to a  Tranche shall fully vest as to 1/6th of the total number of RSUs subject such Tranche on each quarterly  anniversary of the applicable Vesting Commencement Date, such that all of the RSUs subject to such  Tranche shall have fully vested as of the 18-month anniversary of such Vesting Commencement Date,  subject to your continued employment with the Company or its affiliates through the applicable vesting  date (and rounded down to the nearest whole RSU until the final vesting date).  Change in Control    If a Change in Control occurs during the Performance Period, and a Price Per Share Goal is first  achieved based on the CIC Price, then any Performance-Vesting RSUs to which such Price Per Share Goal  applies shall be granted (or, as determined by the Board or a subcommittee thereof in its sole discretion,  shall be deemed granted) and shall be eligible to vest following such Change in Control subject to the  satisfaction of the service-vesting condition set forth above.  Notwithstanding the generality of the  foregoing, in the event that a Price Per Share Goal was achieved prior to such Change in Control, no  DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619 

 

  Exhibit A-2  US-DOCS\134927895.5  additional Performance-Vesting RSUs shall be granted with respect to the achievement of such Price Per  Share Goal in connection with such Change in Control.  Notwithstanding anything to the contrary contained herein or in the 2021 Plan (including Section  8.3 of the 2021 Plan), if, in connection with the occurrence of a Change in Control, if any Performance- Vesting RSUs have not or do not become granted due to failure to achieve the applicable Price Per Share  Goal, then your right to the grant of such RSUs automatically will be forfeited and terminated without  consideration therefor as of immediately prior to the consummation of such Change in Control.  Termination of Service  Upon your termination of employment for any reason, all Performance-Vesting RSUs that have not  become granted as of the date of such termination of employment (because the applicable Price Per Share  Goal has not yet been achieved) automatically will be forfeited and terminated without consideration  therefor.  Definitions  “CIC Price” means the price per Share of Class A Common Stock (each such term as defined in  the 2021 Plan) (or, in connection with a sale or other disposition of all or substantially all of the Parent’s  assets, the implied price per Share of Class A Common Stock) paid by an acquiror in connection with such  Change in Control or, to the extent that the consideration in the Change in Control transaction is paid in  stock of the acquiror or its affiliate, then, unless otherwise determined by the Administrator (as defined in  the 2021 Plan), the CIC Price shall mean the value of the consideration paid per Share based on the average  of the closing trading prices of a share of such acquiror stock on the principal exchange on which such  shares are then traded for each Trading Day during the five consecutive Trading Days ending on and  including the date on which a Change in Control occurs.  In the event the consideration in the Change in  Control takes any other form, the value of such additional consideration shall be determined by the  Administrator in its sole discretion.  “Performance Period” means the period beginning on (and including) the Start Date and ending  on (and including) the five year anniversary of the Start Date.  “Price Per Share” means (i) the daily volume-weighted average sale price of one Share quoted on  the New York Stock Exchange (or the exchange on which the Shares are then listed); or (ii) if a Change in  Control is consummated during the Performance Period, the CIC Price.  “Trading Day” means any day on which Shares are actually traded on the principal securities  exchange or securities market on which Shares are then traded.  DocuSign Envelope ID: 8B828744-057E-4D64-8959-AB32E6980619

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