Document:

Document

Exhibit 10.1

ENBRIDGE EMPLOYEE SERVICES, INC.

EXECUTIVE EMPLOYMENT AGREEMENT

BETWEEN

ENBRIDGE EMPLOYEE SERVICES, INC.
- and -
[ ]
Dated As of [ ] 

			
	

			
	

			
	

    			
	

			
	

TABLE OF CONTENTS

						
	ARTICLE 1 DEFINITIONS AND INTERPRETATION
	1

	1.1    Definitions
	1

	ARTICLE 2 EMPLOYMENT
	7

	2.1    Position, Duties and Responsibilities of Executive
	7

	2.2    Term of Agreement
	8

	2.3    Benefits
	9

	2.4    Termination of Agreement upon Disability of Executive
	9

	2.5    Termination of Agreement by the Company for Cause
	9

	2.6    Termination of Employment by the Company or the Executive for Other Reason
	9

	2.7    Release Agreement
	13

	ARTICLE 3 CONFIDENTIAL INFORMATION AND  RESTRICTIVE COVENANTS
	14

	3.1    Access to Confidential Information and Specialized Training
	14

	3.2    Agreement Not to Use or Disclose Confidential Information
	14

	3.3    Duty to Return Company Documents and Property
	15

	3.4    Non-Solicitation Restriction
	15

	3.5    Non-Competition Restriction
	16

	3.6    No-Recruitment Restriction
	17

	3.7    Post-Termination Cooperation
	17

	3.8    Reformation
	17

	3.9    No Previous Restrictive Agreements
	18

			
	

			
	

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	3.10    No Disparaging Comments
	18

	3.11    Remedies
	18

	3.12    Forfeiture Provision.
	19

	3.13    Company Documents and Property
	20

	3.14    Legal Fees and Expenses
	20

	3.15    Defend Trade Secrets Act
	21

	4.1    Matters Relating to Section 409A of the Code
	21

	4.2    Withholdings; Right of Offset
	22

	4.3    Nonalienation
	22

	4.4    Successors and Assigns
	23

	4.5    Notice
	23

	4.6    Severability
	24

	4.7    No Third Party Beneficiaries
	24

	4.8    Waiver of Breach
	24

	4.9    Survival of Certain Provisions
	24

	4.10    Entire Agreement; Amendment and Termination
	24

	4.11    Currency Conversion
	25

	4.12    Interpretive Matters
	25

	4.13    Governing Law; Jurisdiction
	25

	4.14    Executive Acknowledgments
	26

	4.15    Counterparts
	26

SCHEDULE A    A-1

			
	

			
	

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EXECUTIVE EMPLOYMENT AGREEMENT
THIS AGREEMENT (the “Agreement”) is made effective as of [ ] (the “Effective Date”), by and between: ENBRIDGE EMPLOYEE SERVICES, INC. (hereinafter called the “Company”) and [ ] (hereinafter called the “Executive”).
WHEREAS:
(a)Executive is an executive of Enbridge Inc. (the “Parent”) who will become an executive of the Company, which is an Affiliate of Parent, as of the Effective Date; and
(b)Executive will be relocating her country of residence and primary place of employment from Canada to the United States incident to becoming an executive of the Company; and 
(c)Executive is considered by the Board of Directors of the Company and by Parent to be a valued employee who has acquired outstanding and special skills and abilities and an extensive background in and knowledge of the Company’s business and the industry in which it is engaged; and
(d)the Board of Directors recognizes that it is essential, in the best interests of the Company, that the Company retain the continuing dedication of the Executive to her office and employment and that this can best be accomplished if the personal uncertainty facing the Executive in the event of a Company initiated termination of employment of the Executive is alleviated; and
(e)the Parties hereto now desire to enter into this Agreement, effective as of the Effective Date, which shall supersede and replace, in its entirety, the Prior Agreement (as defined herein).
NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants herein contained, it is hereby agreed as set forth below.
ARTICLE 1
DEFINITIONS AND INTERPRETATION
1.1Definitions.  In addition to the terms defined in the text hereof, terms with initial capital letters as used herein have the meanings assigned to them below for all purposes of this Agreement, unless the context reasonably requires a broader, narrower or different meaning.
(a)“Affiliate” a Person shall be deemed to be an Affiliate of another Person if one of them is controlled by the other or both are controlled by the same Person, and if two Persons are Affiliates of the same Person at the same time they are deemed to be Affiliates of each other, including, without limitation, Parent is an Affiliate of the Company.
(b)“Annual Compensation” means the sum of the Annual Salary and the Annual Incentive Bonus.
(c)“Annual Incentive Bonus” means the annual incentive bonus of the Executive under the Company’s or its Affiliate’s short term incentive plan.
			
	

			
	

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(d)“Annual Salary” means the annual salary of the Executive established by the HRCC and payable by the Company or its Affiliate, determined as at the end of the month immediately preceding the month in which the termination of employment occurs and if, at the relevant time, an annual salary level has not been established, it shall be calculated by multiplying by 12 the monthly salary of the Executive in effect for the month preceding the month containing the Termination Date pursuant to Article 2.
(e)“Board” or “Board of Directors” means the then-current Board of Directors of the Company.
(f)“Business Day” means any Monday through Friday, excluding any such day on which banks are authorized to be closed in Texas. 
(g)“Canadian Registered Pension Plan” means the Canadian registered pension plan, entitled “Retirement Plan for the Employees of Enbridge Inc. and Affiliates”, as it may be amended from to time.
(h)“Canadian Supplemental Pension Plan” means the Canadian non-registered supplemental pension plan, entitled "The Enbridge Supplemental Pension Plan”, as it may be amended from time to time.
(i)“Cause” means any of the following: (a) material dishonesty, including without limitation by engaging in any act involving fraud, conversion, misappropriation or embezzlement (other than non-recurring acts involving de minimis sums), which is not the result of an inadvertent or innocent mistake, of Executive with respect to the Company or any Affiliate; (b) willful misfeasance or nonfeasance of any duty by Executive under this Agreement that has the effect of injuring the reputation, business, or business relationships of the Company or any Affiliate, or any of their respective officers, directors, or employees (other than such failure resulting from illness or injury to Executive or Executive’s physical or mental incapacity); (c) violation by Executive of any term of this Agreement or any other material agreement between Executive and the Company in any material respect; (d) conviction of Executive of (i) any felony, (ii) any other crime involving moral turpitude, or (iii) any other crime (other than a vehicular offense) which could reflect, in some material fashion, unfavorably upon the Company or any Affiliate; or (e) Executive’s (i) failure to perform any of her material fiduciary duties to the Company or any Affiliate, (ii) failure to make full disclosure to the Company of any business opportunity pertaining to the business of the Company or an Affiliate of which she has direct knowledge, (iii) taking any action which she knows, or should have known, does not comply with the law as applicable to her employment including, without limitation, the United States Foreign Corrupt Practices Act; (f) the willful failure to follow the instructions of the Company’s Chairman of the Board, its Board of Directors, its President and CEO, or its Compensation Committee, with respect to any material matter, provided that such instructions reasonably relate to the performance of Executive’s duties and which would not require Executive to perform an illegal act or breach this Agreement or any other agreement to which the Company is a party; or (g) the willful violation of a Company policy, including but not limited to the Statement of Business Conduct and the Anti-Discrimination and Harassment Policy. The determination of “Cause” shall be made by the Company’s CEO. Any such determination shall be reasonable and made in good faith and shall consider the manner and the specific facts and circumstances supporting the determination. Before the Company can terminate Executive for Cause pursuant to clause (a), (b), (c), (e), 
			
	

			
	

			
	

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(f) or (g) above, the Board of Directors shall give Executive written Notice of any alleged violation of said provision.  In each case, only after receipt of Notice which specifically identifies the manner and sets forth specific facts, circumstances and examples of which the Board of Directors believes that Executive has breached this Agreement and her continued willful failure to cure such breach or nonperformance to the satisfaction of the Company within the time period set by the Board of Directors, but in no event, less than ten (10) Business Days after Executive’s receipt of such Notice.  The cure period referenced in the preceding sentence shall not be reduced unless the CEO reasonably determines, in good faith, that the “Cause” event is not curable under the circumstances. Any determination that a “Cause” event is incurable shall be included in the required Notice to Executive before the Company may terminate the Executive for Cause, and shall identify the manner and set forth specific facts, circumstances and examples supporting that determination.  
For purposes of this definition, no act or failure to act on Executive’s part shall be deemed “willful” unless it is done or omitted by Executive without her reasonable belief that such action or omission was in the best interest of the Company or an Affiliate (assuming disclosure of the pertinent facts, any action or omission by Executive after consultation with, and in accordance with the advice of, legal counsel reasonably acceptable to the Company shall be deemed to have been taken in good faith and to not be “willful” for purposes of this Agreement).
(j)“Code” means the Internal Revenue Code of 1986, as amended, or its successor.  References herein to any Section of the Code shall include any successor provisions of the Code.
(k)“Confidential Information” means any information or material known to, or used by or for, the Company or an Affiliate (whether or not owned or developed by the Company or an Affiliate and whether or not developed by Executive) that is not generally known by other Persons in the Business.  For all purposes of the Agreement, Confidential Information includes, but is not limited to, the following: all trade secrets of the Company or an Affiliate; all non-public information that the Company or an Affiliate has marked as confidential or has otherwise described to Executive (either in writing or orally) as confidential; all non-public information concerning the Company’s or Affiliate’s products, services, prospective products or services, research, designs, prices, costs, marketing plans, marketing techniques, studies, test data, suppliers and contracts; all business records and plans; all personnel files; all financial information of or concerning the Company or an Affiliate; all information relating to the Company’s operating system software, application software, software and system methodology, hardware platforms, technical information, inventions, computer programs and listings, source codes, object codes, copyrights and other intellectual property; all technical specifications; any proprietary information belonging to the Company or an Affiliate; all computer hardware or software manuals of the Company or an Affiliate; all Company or Affiliate training or instruction manuals; all Company or Affiliate electronic data; and all computer system passwords and user codes.  The Executive understands and agrees that the above list is not exhaustive, and that Confidential Information also includes other information that is marked or otherwise identified as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential or proprietary in the context and circumstances in which the information is known or used.
			
	

			
	

			
	

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(l)“Defined Benefit Pension Plan” means the U.S. qualified defined benefit pension plan, entitled “Enbridge Employee Services, Inc. Employees’ Pension Plan”, as amended or replaced from time to time in accordance with the terms of such pension plan.
(m)“Disability” shall mean that Executive is entitled to receive long term disability (“LTD”) income benefits under the LTD plan or policy maintained by the Company or an Affiliate that covers Executive.  If, for any reason, Executive is not covered under such LTD plan or policy, then “Disability” shall mean a “permanent and total disability” as defined in Code Section 22(e)(3) and Treasury regulations thereunder.  Evidence of such Disability shall be certified by a physician acceptable to both the Company and Executive.  In the event that the Parties are not able to agree on the choice of a physician, each shall select one physician who, in turn, shall select a third physician to render such certification.  All costs relating to the determination of whether Executive has incurred a Disability shall be paid by the Company.  Executive agrees to submit to any examinations that are reasonably required by the attending physician or other healthcare service providers to determine whether she has a Disability.
(n)“Dispute” means any dispute, disagreement, controversy, claim, or cause of action arising in connection with or relating to this Agreement or Executive’s employment or termination of employment hereunder, or the validity, interpretation, performance, breach, modification or termination of this Agreement.
(o)“Employment Period” means the entire period from the Effective Date through the date of Executive’s Termination Date, for whatever reason.
(p)“Good Reason” means, with respect to Executive, the occurrence of any one or more of the following events which first occurs during the Employment Period, except as a result of actions taken in connection with termination of Executive’s employment for Cause or Disability, and without Executive’s specific written consent:
(i)a material decrease in the reporting relationships of the Executive, excluding a change whereby the Executive ceases to directly report to the most senior executive officer of the Company (as of the date hereof, the President and Chief Executive Officer) or of its control person, if any, and directly reports to another senior executive officer of the Company or of its control person, if any, provided the Executive remains a member of the most senior formal groups or committees (as of the effective date hereof its Executive Leadership Team) involved in corporate stewardship of the Company and of its control person, if any;
(ii)a material decrease in the Executive’s title, position, responsibilities or powers, except during a temporary suspension of employment while the Company investigates any suspected or alleged misconduct by Executive;
(iii)a reduction of more than 15% in the annual salary (excluding the Annual Incentive Bonus) of the Executive;
(iv)a material reduction in the value of the Executive’s pension provisions and other employee benefits, plans and programs, in the aggregate, other than a reduction in the value of the Executive’s Annual Incentive Bonus as a 
			
	

			
	

			
	

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result of the normal application of the performance criteria under the Annual Incentive Bonus;
(v)a relocation of Executive’s principal place of employment by more than 50 miles. This provision does not apply to, and Executive will not be entitled to resign for “Good Reason” for: (a) a relocation to another city where Enbridge currently maintains an executive office location, regardless of whether such city falls outside of the 50-mile radius; or (b) customary business travel throughout the United States and abroad associated with Executive’s role as required and determined by her job duties; or
(vi)any other action or inaction that constitutes a material breach by the Company or Parent of any obligation contained in this Agreement.
Notwithstanding the foregoing definition of “Good Reason”, Executive cannot terminate her employment under the Agreement with Good Reason unless Executive (1) first provides written Notice to the Company’s Chief Executive Officer or Board of Directors of the event (or events) that Executive believes constitutes a Good Reason event (above) within ninety days from the date that the Executive first knew or should have known of such event, and (2) provides the Company with at least 30 Days to cure, correct or mitigate the Good Reason event so that it either (A) does not constitute a Good Reason event hereunder or (B) Executive specifically agrees, in writing, that after any such modification or accommodation by the Company, such event does not constitute a Good Reason event hereunder.  For greater clarity, the said 30-day notice may be given at any time up to the 60th day of the said 90-day period.
(q)“Human Resources and Compensation Committee” or “HRCC” means the committee of the Board of Directors of Parent from time to time appointed to fix the remuneration of executives of the Company or, if such committee has not been appointed, means the Board of Directors of the Company.
(r)“Notice” means a written communication complying with Section 4.5 (“Notify” has the correlative meaning). 
(s)“Parent” means Enbridge Inc.
(t)“Party” means the Company or Executive, and “Parties” means the Company and Executive.  Parent is a Party hereto but only with respect to Sections 2.6(e), 3.11 and 4.10.
(u)“Pensionable Bonus” means the portion of Annual Incentive Bonus which is used under the Defined Benefit Pension Plan and the Supplemental Benefit Pension Plan to determine final or best average earnings;
(v)“Person” means any individual, firm, corporation, partnership, limited liability company, trust, or other entity, including any successor (by merger or otherwise) of such entity. 
(w)“Prior Agreement” means the “Executive Employment Agreement between Enbridge Inc. and [ ]” dated as of February 27, 2017, which has been replaced and superseded, in its entirely, by this Agreement as provided in Section 4.10 hereof.
			
	

			
	

			
	

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(x)“Release” means a release agreement, in such form as is prepared and delivered by the Company to Executive.  The Release shall not release any claim by or on behalf of Executive for any payment or other benefit that is required under this Agreement prior to the receipt thereof, except as may otherwise be agreed to by Executive.
(y)“Retiring Allowance” shall have the meaning set out in Section 2.6(b).
(z)“Specialized Training” includes the training the Company provides to Executive that is unique to its business and enhances Executive’s ability to perform her job duties effectively, which includes, without limitation, orientation training, operation methods training, and computer and systems training.
(aa)“Subsidiary” means a corporation or other entity, whether incorporated or unincorporated, of which at least a majority of the voting securities is owned, directly or indirectly, by the Company.
(ab)“Supplemental Benefit Pension Plan” means the U.S. supplemental, non-qualified pension plan, entitled “The Enbridge Supplemental Pension Plan for United States Employees”, as amended or replaced from time to time in accordance with the terms of such supplemental plan.
(ac)“Termination Date” means the date on which Executive’s employment terminates with the Company and all Affiliates.  Notwithstanding anything herein to the contrary, the date on which a “separation from service” under Code Section 409A is effective shall be the Termination Date with respect to any payment or benefit to or on behalf of Executive that constitutes deferred compensation that is subject to, and not exempt from or excepted under, Code Section 409A.
ARTICLE 2
EMPLOYMENT
2.1Position, Duties and Responsibilities of Executive
The Executive shall have such responsibilities and powers as the Board of Directors or the bylaws of the Company or its Affiliates, or the Executive’s superiors, may from time to time prescribe and are currently contemplated by her position as [ ], or substantially equivalent duties and responsibilities.  Except as may be authorized by the Board of Directors, or by the Executive’s superiors from time to time, the Executive shall devote the whole of her time to the Executive’s duties hereunder and shall use her best efforts to promote the interests of the Company and its Affiliates.  
The foregoing notwithstanding, the Parties recognize and agree that the Executive may engage in passive personal investments (such as real estate investments and rental properties) and other civic and charitable activities (such as continued service on non-profit and/or educational boards) that do not conflict with the business and affairs of the Company or interfere with the Executive’s performance of her duties hereunder without the necessity of obtaining the consent of the Board of Directors.  In this regard, the Company agrees that the Executive may continue to serve on corporate, civic or charitable boards of directors or committees listed on “Appendix A” to this Agreement, subject to the Company’s right to give the Executive (at the sole discretion of the Board of Directors or the Executive’s superiors) six (6) months advance notice of a decision to revoke this approval, and in such case the Executive must remove herself within the six-month time period. 
			
	

			
	

			
	

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Further, the Executive may serve on other corporate, civic or charitable boards of directors or committees only with prior written approval and at the sole discretion of the Board of Directors or the Executive’s superiors (excluding any which would create a conflict of interest or which are competitors of the Company), subject to the Company’s right to give the Executive (at the sole discretion of the Board of Directors of the Executive’s superiors) three (3) months advance notice of a decision to revoke this approval, and in such case the Executive must remove herself within the three-month time period.  
Executive acknowledges and agrees that she owes a fiduciary duty of loyalty, fidelity, and allegiance to use her best efforts to act at all times in the best interests of the Company and its Affiliates.  In keeping with these duties, the Executive shall make full disclosure to the Company of all business opportunities pertaining to the Company’s business, and she shall not appropriate for her own benefit any business opportunity concerning the subject matter of this fiduciary relationship.
2.2Term of Agreement
The term of this Agreement shall commence on the Effective Date and shall continue in effect to and including the earliest of:
(ad)the effective date of the retirement of the Executive in accordance with the retirement policy established for senior employees of the Company, as determined by the Company;
(ae)the Executive is terminated for Cause or the effective date of her resignation other than pursuant to Section 2.6(a)(ii) (Good Reason termination);
(af)the death of the Executive; or 
(ag)the effective date that the employment of Executive is terminated for any other reason except pursuant to Section 2.2(a), (b) or (c) above.
In the event of Executive’s termination for any reason set forth in Sections 2.2(a)-(d), Executive will be entitled to the following minimum termination compensation:  (i) payment of Executive’s regular Annual Salary and benefits through the Termination Date, (ii) payment for all accrued, unused vacation, and (iii) payment of Executive’s Annual Incentive Bonus for the calendar/fiscal year ending prior to the Termination Date, if executive otherwise qualifies for the Bonus and the Bonus was not already paid, (iv) reimbursement for business expenses properly incurred in accordance with applicable Company policy prior to the Termination Date, and (iv) any generally applicable vested benefits to which Executive is entitled as a former employee under the employee benefit plans of the Company and Affiliates.
In the event of Executive’s termination pursuant to Section 2.2(a), (b) or (c), she shall not be entitled to any separation benefits under Section 2.6.  
Upon termination of the Executive’s employment hereunder for any reason, the Executive shall be deemed to have resigned from all positions that the Executive holds as an officer or a member of any board of directors (or a committee thereof) of the Company or any of its Affiliates.
2.1Benefits
In addition to any other benefits provided to, or on behalf of, Executive under this Agreement during its term, Executive shall be entitled to participate in any pension, retirement, 
			
	

			
	

			
	

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401(k), profit-sharing, and other employee benefits plans or programs of the Company to the same extent as made available, from time to time, to other executive vice presidents of the Company, subject to the terms and conditions of such plans or programs. Executive shall also be entitled to participate in any group insurance, hospitalization, medical, dental, health, life, accident, disability and other employee benefits plans or programs of the Company to the same extent as made available, from time to time, to other executive vice presidents of the Company and their spouses and eligible dependents, subject to the terms and conditions of such plans or programs.
2.2Termination of Agreement upon Disability of Executive
In the event of Executive’s Disability, the employment of Executive may be terminated by the Company on 30 days’ prior written Notice to Executive.  In the event of Executive’s termination for Disability, she shall be entitled to receive the separation benefits under Section 2.6.
2.3Termination of Agreement by the Company for Cause
The Company may terminate Executive’s employment with the Company and its Affiliates, at any time and without advance Notice to the Executive (subject to the notice and cure requirements in paragraph 1.1(i)), for Cause.  In the event of Executive’s termination pursuant to this Section 2.5, she shall not be entitled to any separation benefits under Section 2.6.
2.4Termination of Employment by the Company or the Executive for Other Reason
(ah)Except where such termination is pursuant to Sections 2.2(a), 2.2(b), 2.2(c) or 2.5, the provisions of this Section 2.6 shall apply:
(vii)where the Company involuntarily terminates the employment of the Executive without Cause;
(viii)where the Executive terminates her employment with the Company with Good Reason; or
(ix)where the Company terminates the employment of Executive pursuant to Section 2.4 due to Executive’s Disability.
(ai)In the event of a termination of Executive’s employment for a reason provided in Section 2.6(a), the Executive shall be entitled to receive, and the Company shall pay to the Executive, a retiring allowance (the “Retiring Allowance”) computed as hereinafter provided.  The Retiring Allowance shall be that amount which is equal to two (2) times the sum of: 
(i)the Annual Salary; and
(ii)the average of the last two payments of the Annual Incentive Bonus paid to the Executive (or only the last payment if there has not been more than one Annual Incentive Bonus paid to the Executive) immediately preceding the Termination Date, as determined by the Company.
(aj)In the event of a termination of Executive’s employment for a reason provided in Section 2.6(a), in addition to the Retiring Allowance in accordance with Section 2.6(b), the Executive shall be entitled to the following: 
			
	

			
	

			
	

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(x)the Company shall pay to the Executive an Annual Incentive Bonus for the calendar year in which the Termination Date occurs, which is the product determined by a fraction (the numerator of which is the number of days of employment for the Executive in that calendar year and denominator of which is 365) multiplied by the last Annual Incentive Bonus payment received by the Executive, as determined by the Company.  In addition, the Executive shall receive all accrued and unpaid annual vacation pay to the Termination Date.  In addition, where the Executive holds rights under other plans to cash incentive compensation (including without limiting the generality of the foregoing, any performance stock units payable in cash) the Executive shall be paid for the period in which she was employed a pro-rated amount (as determined under the applicable incentive plan) that the Executive was employed through the Termination Date in relation to the number of days in the applicable plan period.  Any such amounts shall be paid to the Executive in accordance with the terms of such plan;
(xi)the Company shall pay to the Executive a lump sum payment that is equivalent to the amount of the Company’s portion of contributions (which excludes any employee elective contributions made by Executive from her compensation) on behalf of the Executive that would have been made under the Company’s 401(k) plan for a two-year period (based upon (i) the Company match percentage at the beginning of the year in which the termination occurs, and (ii) the regulatory maximum compensation for the year in which the termination occurs), as determined by the Company; and
(xii)the Company shall reimburse the Executive for financial counselling and/or career counselling assistance for the Executive up to a maximum of $20,000, provided that Executive provides receipts satisfactory to the Company and such expenses are incurred by Executive within one year following the Termination Date.
(ak)If the Executive has a vested benefit in the Defined Benefit Pension Plan and/or the Supplemental Benefit Pension Plan (each referred to as a “U.S. Pension Plan” and together the “U.S. Pension Plans”) on the Termination Date, she will be paid an additional amount under this Agreement (a “U.S. Pension Payout Amount”). The U.S. Pension Payout Amount is equal to the benefit that would have accrued under the U.S. Pension Plans from the Termination Date for an additional two-year period, as determined by the Company.  The U.S. Pension Payout Amount is a cash benefit provided under this Agreement, and not under the U.S. Pension Plans.  If Executive does not have a vested benefit in the U.S. Pension Plans on the Termination Date, she will not receive a U.S. Pension Payout Amount under this Agreement.
For the purposes of determining Executive’s final or best average earnings, for purposes of determining the U.S. Pension Payout Amount, the following factors will be used:
(i)the Executive’s salary for such years shall be deemed to be her Annual Salary as of the Termination Date; and
(ii)the Annual Incentive Bonus used in calculating the Pensionable Bonus for each of such two additional years shall be deemed to be the average of the last two payments of Annual Incentive Bonus paid to the Executive (or the 
			
	

			
	

			
	

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last payment if there has not been more than one Annual Incentive Bonus paid to the Executive immediately preceding the Termination Date), as determined by the Company.
(al)Parent undertakes and agrees to pay or cause to be paid to the Executive the amounts provided for in the Canadian Supplemental Pension Plan as modified by this Section 2.6(e) (the “Canadian Supplementary Undertaking”).
Benefits payable under the Canadian Supplemental Pension Plan are supplemental to the amounts to be paid to the Executive under the Canadian Registered Pension Plan, such that the Executive will receive an annual pension equal to the annual pension that the Executive would be entitled to under the Canadian Registered Pension Plan but for the fact that the retirement benefits under the Canadian Registered Pension Plan are subject to maximum pension limitation as fixed from time to time under the Income Tax Act (Canada) and the rules and regulations from time to time promulgated by the Canada Revenue Agency thereunder (the “ITA”).
The Canadian Supplementary Undertaking shall be (1) provided pursuant to Appendix B of the Canadian Supplemental Pension Plan in accordance with the provisions thereunder relating to additional pension benefits that result from periods of employment as a “US Tax Resident” (as defined below) and (2) interpreted, construed, and administered in accordance with Section 4.1(c) hereunder.
(xiii)Defined Terms. For purposes of this Section 2.6(e), the term “Beneficiary” and “US Tax Resident” shall have the meanings given to them in the Canadian Supplemental Pension Plan, and the terms “Best Average Earnings”, “Continuous Service”, “Credited Service”, “Earnings” and “Final Average Earnings” shall have the meanings given to them in the Canadian Registered Pension Plan.
(xiv)Canadian Supplementary Undertaking.  The Executive (or the Executive’s spouse or “Beneficiary”, if applicable) is entitled to receive benefits determined in accordance with the Canadian Supplemental Pension Plan, being certain amounts that would be payable from the Canadian Registered Pension Plan but for limits imposed by the ITA, all as specified in the Canadian Supplemental Pension Plan, as if:
A.Two additional years of “Continuous Service” were granted under the Canadian Registered Pension Plan for purposes other than to be applied to “Credited Service” pursuant to the retirement income formula thereunder; and
B.For the purposes of determining the “Final Average Earnings” or “Best Average Earnings”, for each of the two additional years of “Continuous Service” provided for pursuant to Section 2.6(e)(ii)A:
(1)The Executive’s “Earnings” for such years shall be deemed to be her Annual Salary as of the Termination Date; and
(2)the Annual Incentive Bonus used in calculating the Pensionable Bonus for each of such two additional years shall be deemed to be the average of the last two payments 
			
	

			
	

			
	

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of Annual Incentive Bonus paid to the Executive (or the last payment if there has not been more than one Annual Incentive Bonus paid to the Executive immediately preceding the Termination Date), as determined by the Company.
C.For purposes of calculating the Annual Salary and Annual Incentive Bonus amounts deemed under this Section 2.6(e), the amounts shall be converted into Canadian dollars at the exchange rate reported by XE.com (or such other equivalent exchange rate source, as determined by the Company) as of 5 p.m. Central Time on the last business day of the previous calendar year that ended prior to the Termination Date, as determined by the Company. 
D.For purposes of clarity, when determining “Credited Service” under the Canadian Registered Pension Plan, the Executive shall not be credited with an additional two years of “Credited Service” in addition to the “Credited Service” she has already accrued under the Canadian Registered Pension Plan.
(a)If, as of the Termination Date, the Executive holds vested and exercisable but unexercised stock options for the purchase of shares (or other securities) under any of the Company’s or its Affiliates’ stock option plans, the Executive shall be entitled to exercise all such stock options so held in accordance with the terms of such plans and her stock option award agreements.  If the Executive holds options for the purchase of shares (or other securities) under any of the Company’s or its Affiliates’ stock option plans which are not vested at the Termination Date in a termination circumstance where this Section 2.6 applies, the Company shall pay to the Executive a cash amount that is equal to the excess, if any, of the fair market value of the shares (or other securities) on the Termination Date over the exercise price for such unvested options.  For this purpose, fair market value on the Termination Date shall mean the last board lot sale price on the New York Stock Exchange or the Toronto Stock Exchange, as applicable for Parent on the last trading day prior to the Termination Date.
(b)The amounts payable by the Company to the Executive pursuant to Section 2.6 shall not be reduced by any amounts earned by the Executive after the Termination Date.
(c)All amounts paid by the Company to the Executive pursuant to Section 2.6 shall satisfy and forever discharge all liabilities, claims or actions that the Executive may or shall have against the Company, whether arising from the termination of employment of the Executive or any other reason, whether at common law, under statute or otherwise, except for the items listed as exceptions in the form of release attached hereto as Appendix B, including, but not limited to, equity incentive awards (excluding any unvested stock options that are subject to Section 2.6(f)) that were granted to the Executive and are outstanding on the Termination Date, which equity incentive awards shall remain subject to the terms and conditions of their applicable award agreements and any associated plans.
(d)In consideration for the benefits provided for under this Section 2.6, the Executive shall first execute and deliver the Release described in Section 2.7 to the Company.
			
	

			
	

			
	

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2.1Release Agreement 
Notwithstanding any provision of this Agreement to the contrary, in order to receive the separation benefits provided under Section 2.6 (the “Separation Benefits”), Executive must first execute the Release (on a form provided by the Company), in substantially the same form as set forth in Appendix B hereto, whereby Executive agrees to release and waive, in return for such Separation Benefits, any claims that she may have against the Company and its Affiliates  including, without limitation, for unlawful discrimination or retaliation (e.g., Title VII of the U.S. Civil Rights Act); provided, however, the Release shall not release any claim by or on behalf of Executive for any payment or benefit that is due and payable under the terms of this Agreement.
Executive must sign and return the executed Release within the period that ends at the close of the business day that occurs on or next following twenty-one (21) calendar days after the day that she receives the Release on or after the Termination Date.  No Separation Benefits shall be payable or provided by the Company unless and until the Release has been executed by Executive, has not been revoked, and is no longer subject to revocation by Executive.  The Separation Benefits shall be paid or provided by the Company within 60 days of the Termination Date, but only if the Release has been properly executed by Executive and is not revocable at that time, regardless of the date on which the Release was actually executed by Executive.  In the event that such 60-day period spans two calendar years, the Separation Benefits will be paid in the later year.  If the conditions set forth in the preceding sentence are not satisfied by Executive, the Separation Benefits shall be forfeited hereunder without the necessity of any further notice.
ARTICLE 3
CONFIDENTIAL INFORMATION AND 
RESTRICTIVE COVENANTS
3.1Access to Confidential Information and Specialized Training
In connection with her employment and continuing on an ongoing basis during the Employment Period, the Company and its Affiliates will give Executive access to Confidential Information, which Executive did not have access to or knowledge of before the execution of this Agreement.  Executive acknowledges and agrees that all Confidential Information is confidential and a valuable, special and unique asset of the Company that gives the Company an advantage over its actual and potential, current and future competitors.  Executive further acknowledges and agrees that Executive owes the Company a fiduciary duty to preserve and protect all Confidential Information from unauthorized disclosure or unauthorized use, that certain Confidential Information constitutes “trade secrets” under applicable laws, and that unauthorized disclosure or unauthorized use of the Confidential Information would irreparably injure the Company or an Affiliate.
3.2Agreement Not to Use or Disclose Confidential Information
Both during the term of Executive’s employment and after her termination of employment for any reason (including wrongful termination), Executive shall hold all Confidential Information in strict confidence, and shall not use any Confidential Information except for the benefit of the Company or its Affiliates, in accordance with the duties assigned to Executive.  Executive shall also comply with the “Enbridge Inc. and its Subsidiaries Revised Statement of Business Conduct” as it may be amended, and any similar or successor policy maintained or adopted by the Company.  
Notwithstanding any other provision of this Agreement to the contrary, the Parties understand and agree that (a) Executive may disclose Confidential Information when required to 
			
	

			
	

			
	

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do so by a court of competent jurisdiction, by any governmental agency having authority over Executive or the business of the Company, or by any administrative body or legislative body (including a committee thereof) with jurisdiction to order Executive to divulge, disclose or make accessible such information, in each case, subject to Executive’s obligations to notify the Company to the extent required under this Agreement or the Release; and (b) nothing in this Agreement is intended to interfere with Executive’s right to (1) report possible violations of federal, state, or local law or regulation to any governmental or law enforcement agency or entity; (2) make other disclosures that are protected under the whistle blower provisions of federal, state, or local law or regulation (including, but not limited to, any legally protected whistleblower rights pursuant to Rule 21F promulgated under the Securities Exchange Act of 1934, as amended, and the right to receive an award for information provided to any such government agencies); (3) prevent or otherwise interfere with the Executive’s right to file a charge, complaint, or claim with any governmental agency or entity charged with enforcement of any law, including, but not limited to, the Equal Employment Opportunity Commission (the “EEOC”); or (4) cooperate, participate in or provide truthful testimony to the EEOC or any other federal, state or local governmental or law agency or entity or any court with respect to any investigation, hearing, or proceeding being conducted by a governmental or law agency or entity or any court.
For purposes of clarity, in making or initiating any such reports or disclosures or engaging in any of the conduct outlined in subsection (b) above, Executive may disclose Confidential Information, but only to the extent necessary, to such governmental or law enforcement agency or entity or such court, need not seek prior authorization from the Company, and is not required to notify the Company of any such reports, disclosures or conduct.
3.3Duty to Return Company Documents and Property
Upon the termination of Executive’s employment with the Company and its Affiliates, for whatever reason, Executive shall immediately return and deliver to the Company any and all papers, books, records, documents, memoranda and manuals, e-mail, electronic or magnetic recordings or data, including all copies thereof, belonging to the Company or an Affiliate or relating to their businesses, in Executive’s possession or under her control, and regardless of whether prepared by Executive or others.  If at any time after the Employment Period, Executive determines that she has any Confidential Information in her possession or under her control, Executive shall immediately return to the Company all such Confidential Information, including all copies (including electronic versions) and portions thereof.  Within one (1) day after the end of the Employment Period for any reason, the Executive shall return to Company all Confidential Information which is in her possession, custody or control.
3.4Non-Solicitation Restriction
To protect the Confidential Information, and in the event of Executive’s termination of employment for any reason, it is necessary to enter into the following restrictive covenants which are ancillary to the enforceable promises between the Company and Executive in this Agreement.  Executive hereby covenants and agrees that she will not, directly or indirectly, either individually or as a principal, owner, agent, or in any other capacity or on behalf of any other Person, except on behalf of the Company or an Affiliate, solicit business, or attempt to solicit business, in products or services competitive with any products or services provided by the Company or any Affiliate, from the Company’s or Affiliate’s partners or customers (or any prospective partner or customer so long as she had access to Confidential Information about said prospective partner or customer) as of the Termination Date, or any other Person with whom the Company or Affiliate had a business relationship related to the competitive products or services within the one (1) year period immediately preceding the Termination Date, provided that Executive had a business related contact with or, through her 
			
	

			
	

			
	

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employment, had access to Confidential Information about said partner, customer, or Person related to the competitive products or services.  This non-solicitation covenant shall remain in effect for one year following the Termination Date. 
3.5Non-Competition Restriction 
The Executive recognizes and understands that in performing the duties and responsibilities of her employment as outlined in this Agreement, she will occupy a position of high fiduciary trust and confidence, pursuant to which she has developed and will develop and acquire wide experience and knowledge with respect to the businesses carried on by the Company and its affiliates and the manner in which such businesses are conducted. It is the expressed intent and agreement of the Executive and of the Company that such knowledge and experience shall be used solely and exclusively in the furtherance of the business interests of the Company and its affiliates and not in any manner detrimental to them. The Executive therefore agrees that so long as she is employed by the Company pursuant to this Agreement she shall not engage in any practice or business in competition with the business of the Company or any of its affiliates.
In the event of termination of the Executive’s employment for any reason, the Executive agrees that she will not, directly or indirectly, for a period of 12 months from the date of termination of employment, without the prior written consent of the Company (not to be unreasonably withheld) either alone or in partnership or in conjunction with any Person or Persons (collectively a “Business Entity”) as principal, agent, shareholder, employee, director or in any other manner whatsoever carry on or be engaged in or concerned with or interested in, or advise, lend money to, guarantee the debts or obligations of or permit her name or any part thereof to be used or employed by any Business Entity engaged or interested in the transportation, distribution or marketing of crude oil, natural gas or natural gas liquids, the gathering or processing of natural gas including the extraction of natural gas liquids, power generation, transmission, distribution or marketing, the production, transmission, distribution or marketing of renewable or green energy including wind, solar or thermal:
(a)within Texas;
(b)within any state of the United States of America, including Alaska;
(c)within any province or territory of Canada;
provided that Executive was involved with, directly or indirectly through the supervision or management of employees, or received Confidential Information about, the enumerated business line(s) conducted within any such State or Province. 
If any covenant or provision in this Section 3.5 is determined to be void or unenforceable in whole or in part, it shall be deemed not to affect or impair the validity of any other covenant or provision, and each of Sections 3.5 (a) to (f) are hereby declared to be separate and distinct covenants (and for this purpose each province or state intended to be named in Section 3.5(b) and (d) shall be considered to be set forth in a separate subclause of Section 3.5 and to be separate and distinct covenant). The Executive agrees that all the provisions of this Section 3.5 are reasonable in the interests of the Company and its continuing business and operations. The foregoing provisions of Section 3.5 shall not apply to the acquisition by the Executive, directly or indirectly, or through any Business Entity of up to 1% of the shares or other securities of a Business Entity quoted or traded on any public stock exchange in Canada or the United States.
			
	

			
	

			
	

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3.6No-Recruitment Restriction
The Executive shall not, directly or indirectly, for the Executive or for any other Person, in any geographic area or market where the Company or any of its Affiliates is conducting any business, induce any employee of the Company of any of its Affiliates with whom Executive worked, had a business-related contact, or about whom Executive learned Confidential Information, to terminate his or her employment with the Company or such Affiliate, or hire or assist in the hiring of any such employee by any Person not affiliated with the Company, unless such employee has terminated employment with the Company and its Affiliates for at least thirty (30) days before such initial solicitation.  These obligations shall apply during the period that the Executive is employed by the Company and during the two-year period commencing on the Termination Date.  Notwithstanding the foregoing, the provisions of this Section 3.6 shall not restrict the ability of the Company or its Affiliates to take any action with respect to the employment or the termination of employment of any of its employees, or for the Executive to participate in her capacity as an officer of the Company.  Executive shall not be in violation of this Section 3.5 as a result of a general advertisement not targeted specifically at employees of the Company or its Subsidiaries. 
3.7Post-Termination Cooperation
Following termination of Executive’s employment with the Company and its Affiliates, for whatever reason, upon request by the Company, Executive shall reasonably cooperate with the Company to assist with existing or future investigations, proceedings, litigations or examinations involving the Company or any of its Affiliates. Executive agrees to render such cooperation without additional compensation during the first year following the Termination Date, and further agrees to render up to eighty (80) hours without compensation in the second year following the Termination Date. Company agrees to reasonably compensate Executive for such cooperation that Executive renders in excess of eighty (80) hours during the second year following the Termination Date, and for all such cooperation that is rendered by Executive more than two years after the Termination Date.  Compensation shall be at a reasonable hourly rate mutually agreed by Executive and the Company.  Upon presentment of satisfactory documentation, the Company will reimburse Executive for reasonable out-of-pocket travel, lodging and other incidental expenses she incurs in providing such assistance. Executive shall make reasonable good faith efforts to travel to such locations as the Company may reasonably request.
3.8Reformation
It is expressly understood and agreed that the Company and the Executive consider the restrictions contained in this ARTICLE 3 to be reasonable and necessary to protect the Confidential Information and reasonable business interests of the Company or its Affiliates.  The Executive further acknowledges that the amount of her compensation reflects, in part, her obligations and the Company’s rights under Sections 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, and 3.10 of this Agreement; that she has no expectation of any additional compensation, royalties or other payment of any kind not otherwise referenced herein in connection herewith; that she will not be subject to undue hardship by reason of her full compliance with the terms and conditions of these provisions of the Agreement or the Company’s enforcement thereof.  Nevertheless, if any of the aforesaid restrictions are found by a court having jurisdiction to be unreasonable, or overly broad as to geographic area or time, or otherwise unenforceable, the Parties intend for the restrictions therein set forth to be modified by such court so as to be reasonable and enforceable and, as so modified, to be fully enforced in the geographic area and for the time period to the full extent permitted by law.
			
	

			
	

			
	

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3.9No Previous Restrictive Agreements
Executive represents that, except as disclosed in writing to the Company prior to the Effective Date, she is not bound by the terms of any agreement with any previous unrelated employer or other Person to (a) refrain from using or disclosing any trade secret or confidential or proprietary information in the course of Executive’s employment by the Company or (b) refrain from competing, directly or indirectly, with the business of such previous employer or any other Person, or to solicit any employee, representative or customer of any previous employer.  Executive further represents that her performance under this Agreement will not breach any (i) agreement to keep in confidence proprietary information, knowledge or data acquired by Executive in confidence prior to Executive’s employment with the Company, or (ii) non-competition or non-solicitation restrictive covenant or any other similar type of agreement with any previous employer.  Executive agrees that she will not disclose to the Company or induce the Company to use any confidential or proprietary information or material belonging to any previous employer or any other Person.
3.10No Disparaging Comments
Executive shall refrain from any criticisms or disparaging comments about the Company or in any way relating to Executive’s employment or separation from employment.  Similarly, the Company shall instruct the Executive Leadership Team to refrain from any criticisms or disparaging comments about Executive or in any way relating to Executive’s employment or separation from employment; provided, however, that nothing in this Section 3.10 shall restrict these covered individuals from making truthful statements in the course of any performance reviews, internal investigations, or disciplinary actions. Further, nothing in this Section 3.10 shall restrict the truthful communication of information by the Company or any of its Affiliates or by the Executive to any state or federal law enforcement or administrative agency or court of competent jurisdiction.  The Company and Executive will thus not be in breach of this covenant solely by reason of truthful testimony or disclosure that is required for compliance with applicable law or regulation or by compulsion of law.  A violation or threatened violation of this prohibition may be enjoined by a court of competent jurisdiction.  The rights under this provision are in addition to any and all rights and remedies otherwise afforded by law to the Parties.
3.11Remedies
Executive acknowledges that the restrictions contained in this ARTICLE 3, in view of the nature of the Company’s business, are reasonable and necessary to protect the Company’s legitimate business interests, and that any violation of this Agreement would result in irreparable injury to the Company.  In the event of a breach or a threatened breach by Executive of any provision of Article 3, the Company shall be entitled to a temporary restraining order and injunctive relief restraining Executive from the commission of any breach, and to recover the Company’s attorneys’ fees, costs and expenses related to the breach or threatened breach, to the extent ordered by a court of competent jurisdiction, in the amount ordered in a final decision by said court.  For the purposes of this Agreement, a “threatened breach” means any action or statement by Executive that suggests that a breach is probable or likely to occur, and imminent. Nothing contained in this Agreement shall be construed as prohibiting the Company from pursuing any other remedies available to it for any such breach or threatened breach.  These covenants and disclosures shall each be construed as independent of any other provision in this Agreement, and the existence of any claim or cause of action by Executive against the Company or an Affiliate, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of such covenants and agreements. 
In the event of a breach or a threatened breach by Executive of Sections 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, or 3.10 of this Agreement, the Company and Parent shall be entitled to cancel 
			
	

			
	

			
	

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all unvested options or performance share units. This Paragraph does not require the cancellation of any vested options or performance share units. In the event a court of competent jurisdiction determines that no breach or threatened breach has occurred, the Company shall be required to reinstate any unvested or unexercised options or performance share units or make an equivalency payment. In addition, Executive shall be entitled to recover her costs and attorneys’ fees to the extent ordered by a court of competent jurisdiction, in the amount ordered in a final decision by said court.  
3.12Forfeiture Provision
(d)If the Executive engages in any activity that violates any covenant or restriction contained in this ARTICLE 3, in addition to any other remedy the Company may have at law or in equity, (i) the Executive will be entitled to no further payments or benefits from the Company under this Agreement or otherwise, except for any payments or benefits required to be made or provided under applicable law; (ii) all forms of unvested equity compensation held by or credited to the Executive will terminate effective as of the date on which the Executive engages in that activity, unless terminated sooner by operation of another term or condition of this Agreement or other applicable plans and agreements; and (iii) any exercise, payment or delivery pursuant to any unvested equity compensation award that occurred within one year prior to the date on which the Executive engages in that activity may be rescinded within six months after the first date that any member of the Board first became aware that the Executive engaged in that activity. In the event of any such rescission, the Executive will pay to the Company the amount of any gain realized or payment received as a result of the rescinded exercise, payment or delivery (after deducting the Executive’s actual income tax liability incurred with respect to such gain or payment), in such manner and on such terms and conditions as may be reasonably required. Notwithstanding any provision of this Agreement to the contrary, if the Executive disputes whether she has violated any covenant or restriction contained in ARTICLE 3, and such dispute has been adjudicated to a final decision by a court of competent jurisdiction pursuant to Section 4.13 in the Executive’s favor  the Company will pay to the Executive all amounts withheld or clawed back pursuant to this Section 3.12 to the extent ordered by a court of competent jurisdiction; provided that legal action in this respect is filed by the Executive within six months after being notified of the Company’s decision affecting the Executive under this Section 3.12. Further, in the event a court of competent jurisdiction determines in a final decision that no breach or threatened breach has occurred, Executive shall be entitled to recover her costs and attorneys’ fees to the extent ordered by a court of competent jurisdiction, in the amount ordered by said court. 
(e)In all cases, the decision to invoke forfeiture will be reasonable and made in good faith. Prior to invoking forfeiture, the Board of Directors shall give Executive written Notice of any alleged violation that triggered forfeiture. Notice will specifically identify the manner and set forth specific facts, circumstances, and examples of which the Board of Directors believes that the Executive has triggered forfeiture. 
(f)The Executive consents to a deduction from any amounts the Company owes the Executive from time to time to the extent of the amounts the Executive owes the Company under Section 3.12(above), and provided the applicable funds are not wages under Texas or federal law. Whether or not the Company elects to make any setoff in whole or in part, if the Company does not recover by means of setoff 
			
	

			
	

			
	

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the full amount the Executive owes, calculated as set forth above, the Executive agrees to pay immediately the unpaid balance to the Company.
3.1Company Documents and Property
All writings, records, and other documents and things comprising, containing, describing, discussing, explaining, or evidencing any Confidential Information, and all equipment, components, parts, tools, and the like in Executive’s custody, possession or control that have been obtained or prepared in the course of Executive’s employment with the Company or an Affiliate shall be the exclusive property of the Company or an Affiliate.  Notwithstanding the foregoing, subject to the confidentiality obligations set forth in Section 3.2 of this Agreement, Executive may retain (a) her calendar, (b) her personal contacts, (c) her business mobile telephone number, and (d) only to the minimum extent reasonably needed for tax preparation purposes, personal correspondence and data.
3.2Legal Fees and Expenses
The Company shall pay all reasonable costs incurred by the Executive, as determined in the discretion of the Company’s Chief Executive Officer or a senior executive of Parent, in respect of legal, consulting and accounting expenses in connection with the negotiation and execution of this Agreement.  The Company shall pay all costs, charges and expenses incurred in respect of legal, consulting and accounting expenses (including legal fees, charges and disbursements on an as between an attorney and her own client basis) that are incurred by the Executive or her estate in taking any action or enforcing any right or benefit provided to the Executive under this Agreement; provided, however, only if, and to the extent, that the Executive is substantially successful in any such action or in enforcing any such right or benefit, and provided further, that any and all payments pursuant to this Section 3.14, on an aggregated basis, shall not exceed a maximum amount of $20,000 (or such greater amount as may be ordered by any court or other competent authority or as provided in Section 3.12 or elsewhere in this Agreement). Nothing in this Paragraph 3.14 shall or is intended to limit indemnification of Executive by the Company as provided by law, under any insurance agreement maintained by the Company that provides indemnification to Executive, in the Company’s by-laws, or as otherwise agreed. 
3.3Defend Trade Secrets Act
Executive is hereby notified that in accordance with  the Defend Trade Secrets Act of 2016, as it may be amended from time to time, that, notwithstanding any provision of this Agreement (or any other agreement with the Company regarding confidentiality) to the contrary, Executive will not be held criminally or civilly liable under  any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (2) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. Executive is further notified that if Executive files a lawsuit for retaliation against the Company for reporting a suspected violation of law, Executive may disclose the Company’s trade secrets to Executive’s attorney and use the trade secret information in the court proceeding if Executive (i) files any document containing the trade secret under seal and (ii) does not disclose the trade secret, except pursuant to a court order.
			
	

			
	

			
	

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ARTICLE 4
GENERAL PROVISIONS
4.1Matters Relating to Section 409A of the Code
Notwithstanding any provision in this Agreement to the contrary, if the payment of any compensation or benefit provided hereunder (including, without limitation, any Separation Benefits) would be subject to additional taxes and interest under Section 409A of the Code (“Section 409A”), and not exempt from the application of Section 409A, then the following provisions shall apply: 
(a)Notwithstanding anything to the contrary in this Agreement, with respect to any amounts payable to Executive under this Agreement in connection with a termination of Executive’s employment that would be considered “non-qualified deferred compensation” that is subject to, and not exempt under, Section 409A, a termination of employment shall not be considered to have occurred under this Agreement unless and until such termination constitutes Executive’s “separation from service” with the Company, as such term is defined under Section 409A (“Separation from Service”).
(b)Notwithstanding anything to the contrary in this Agreement, to the maximum extent permitted by applicable law, the Separation Benefits payable to Executive pursuant to this Agreement shall be made in reliance upon Treasury Regulation Section 1.409A-1(b)(9)(iii) (relating to separation pay plans) or Treasury Regulation Section 1.409A-1(b)(4) (relating to short-term deferrals).  However, to the extent any such payments are treated as “non-qualified deferred compensation” subject to Section 409A, and if Executive is deemed at the time of her Separation from Service to be a “specified employee” for purposes of Section 409A, then to the extent delayed payment of the benefits to which Executive is entitled under this Agreement is required in order to avoid a payment that is subject to the Section 409A Penalties (as defined below), such payment shall not be made to Executive before the earlier of (1) the expiration of the six-month period measured from the date Executive’s Separation from Service or (2) the date of Executive’s death.  Upon the earlier of such dates, all payments deferred pursuant to this Section 4.1 shall be paid in a lump sum to Executive (or to Executive’s Designated Beneficiary in the event of her death).  The determination of whether Executive is a “specified employee” for purposes of Section 409A at the time of her Separation from Service shall be made by the Company in accordance with the requirements of Section 409A.
(c)This Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment under this Agreement becomes subject to (1) the gross income inclusion under Section 409A or (2) the interest and additional tax under Section 409A (collectively, “Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of the Section 409A Penalties.  For purposes of Section 409A, each payment that Executive may be eligible to receive under this Agreement shall be treated as a separate and distinct payment and shall not collectively be treated as a single payment.  If any provision of this Agreement would cause Executive to incur the Section 409A Penalties, the Company may, after consulting with Executive, reform such provision to comply with Section 409A or to preclude imposition of the Section 409A Penalties, to the full extent permitted under Section 409A.
			
	

			
	

			
	

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4.2Withholdings; Right of Offset
The Company may withhold and deduct from any benefits and payments made or to be made pursuant to this Agreement (a) all federal, state, local, foreign, and other taxes as may be required pursuant to any law or governmental regulation or ruling, (b) all other employee deductions made with respect to Company’s employees generally, and (c) any advances made to Executive and owed to Company.
4.3Nonalienation
The right to receive payments under this Agreement shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge or encumbrance by Executive, her dependents or beneficiaries, or to any other Person who is or may become entitled to receive such payments hereunder.  The right to receive payments hereunder shall not be subject to or liable for the debts, contracts, liabilities, engagements or torts of any Person who is or may become entitled to receive such payments, nor may the same be subject to attachment or seizure by any creditor of such Person under any circumstances, and any such attempted attachment or seizure shall be void and of no force and effect.
4.4Successors and Assigns
This Agreement shall be binding upon and inure to the benefit of the Company and any successor of the Company (whether direct or indirect, by purchase, merger, consolidation or otherwise), and this Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives.  The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.  As used in this Agreement, “Company” shall mean the Company as previously defined and any successor by operation of law or otherwise, as well as any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement.  Except as provided in the preceding provisions of this Section 4.4, this Agreement, and the rights and obligations of the Parties hereunder, are personal in nature and neither this Agreement, nor any right, benefit, or obligation of either Party hereto, shall be subject to voluntary or involuntary assignment, alienation or transfer, whether by operation of law or otherwise, without the written consent of the other Party.
4.5Notice
Each Notice or other communication required or permitted under this Agreement shall be in writing and transmitted, delivered, or sent by personal delivery, prepaid courier or messenger service (whether overnight or same-day), or prepaid certified United States mail (with return receipt requested), addressed (in any case) to the other Party at the address for that Party set forth below or under that Party’s signature on this Agreement, or at such other address as the recipient has designated by Notice to the other Party.
To the Company: 
Enbridge Employee Services, Inc.
200, 425 – 1st Street S.W.
Calgary, AB T2P 3L8
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To Executive:  (As set forth below her signature on the signature page of this Agreement.)
Each Notice or communication so transmitted, delivered, or sent (a) in person, by courier or messenger service, or by certified United States mail (return receipt requested) shall be deemed given, received, and effective on the date delivered to or refused by the intended recipient (with the return receipt, or the equivalent record of the courier or messenger, being deemed conclusive evidence of delivery or refusal), or (b) by telecopy or facsimile shall be deemed given, received, and effective on the date of actual receipt (with the confirmation of transmission being deemed conclusive evidence of receipt, except where the intended recipient has promptly Notified the other Party that the transmission is illegible). Nevertheless, if the date of delivery or transmission is not a Business Day, or if the delivery or transmission is after 4:00 p.m. (local time at the recipient) on a Business Day, the Notice or other communication shall be deemed given, received, and effective on the next Business Day.
4.6Severability
It is the desire of the Parties hereto that this Agreement be enforced to the maximum extent permitted by law, and should any provision contained herein be held unenforceable by a court of competent jurisdiction, the Parties hereby agree and consent that such provision shall be reformed to create a valid and enforceable provision to the maximum extent permitted by law; provided, however, if such provision cannot be reformed, it shall be deemed ineffective and deleted herefrom without affecting any other provision of this Agreement.  This Agreement should be construed by limiting and reducing it only to the minimum extent necessary to be enforceable under then applicable law.
4.7No Third Party Beneficiaries
4.8This Agreement shall be binding upon and inure to the benefit of the Parties hereto, and to their respective successors and permitted assigns hereunder, but otherwise this Agreement shall not be for the benefit of any third parties.  Waiver of Breach
No waiver by either Party of a breach of any provision of this Agreement by the other Party, or of compliance with any condition or provision of this Agreement to be performed by the other Party, will operate or be construed as a waiver of any subsequent breach by the other Party or any similar or dissimilar provision or condition at the same or any subsequent time.  The failure of either Party to take any action by reason of any breach will not deprive such Party of the right to take action at any time while such breach continues.
4.9Survival of Certain Provisions
Wherever appropriate to the intention of the Parties, the respective rights and obligations of the Parties hereunder shall survive any termination or expiration of this Agreement or the termination of Executive’s employment.
4.10Entire Agreement; Amendment and Termination
This Agreement contains the entire agreement of the Parties with respect to the matters covered herein; moreover, this Agreement supersedes all prior and contemporaneous agreements and understandings, oral or written, between the Parties concerning the subject matter hereof.  This Agreement may be amended, waived or terminated only by a written instrument that is identified as an amendment, waiver or termination hereto and that is executed by or on behalf of each Party.
			
	

			
	

			
	

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This Agreement supersedes and replaces the Prior Agreement in its entirety, and the Prior Agreement is hereby terminated by the parties thereto, effective as of the Effective Date.  On and after the Effective Date, the Prior Agreement, including those provisions which expressly state that they are to survive termination of the Prior Agreement, shall be cancelled and void and without further force or effect.
4.11Currency Conversion
For purposes of calculating amounts payable under this Agreement, except as otherwise expressly provided in Section 2.6(e) or elsewhere in this Agreement, any earned compensation that was paid to Executive in Canadian dollars (e.g., the Annual Incentive Bonus in prior years) shall be converted into U.S. dollars at the exchange rate reported by XE.com (or such other equivalent exchange rate source, as determined by the Company) as of 5 p.m. Central Time on the date that such amount was paid to Executive. 
4.12Interpretive Matters
In the interpretation of the Agreement, except where the context otherwise requires:
(d)Headings.  The Agreement headings are for reference purposes only and will not affect in any way the meaning or interpretation of this Agreement.
(e)The terms “including” and “include” do not denote or imply any limitation.
(f)The conjunction “or” has the inclusive meaning “and/or”.
(g)Plurals and Genders.  The singular includes the plural, and vice versa, and each gender includes each of the others.
(h)Months.  The term “month” refers to a calendar month.
(i)References to Statutes.  Reference to any statute, rule, or regulation includes any amendment thereto or any statute, rule, or regulation enacted or promulgated in replacement thereof.
(j)The words “herein”, “hereof”, “hereunder” and other compounds of the word “here” shall refer to the entire Agreement and not to any particular provision;
(k)Except as provided in Section 4.11, all amounts referenced herein are in U.S. dollars.
4.1Governing Law; Jurisdiction
All matters or issues relating to the interpretation, construction, validity, and enforcement of this Agreement shall be governed by the laws of the State of Texas, without giving effect to any choice-of-law principle that would cause the application of the laws of any jurisdiction other than Texas.  Jurisdiction and venue of any action or proceeding relating to this Agreement or any Dispute shall be exclusively in the federal and state courts of competent jurisdiction in the Houston, Texas metropolitan area.  Executive consents to personal jurisdiction of such courts to adjudicate any Dispute relating to or arising out of this Agreement or Executive’s employment or termination of employment, and Executive agrees that Executive shall not challenge personal or subject matter jurisdiction in such courts.  EACH OF THE PARTIES HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES TRIAL BY JURY IN 
			
	

			
	

			
	

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ANY LITIGATION, ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION WITH THIS AGREEMENT.
4.2Executive Acknowledgments
The Executive’s acceptance of employment with the Company, and the performance of her duties hereunder, will not conflict with or result in a violation of, a breach of, or a default under any contract, agreement or understanding to which she is a party or is otherwise bound.
Executive acknowledges that (a) she is knowledgeable and sophisticated as to business matters, including the subject matter of this Agreement, (b) she has read this Agreement and understands its terms and conditions, (c) she has had ample opportunity to discuss this Agreement with her legal counsel prior to execution, and (d) no strict rules of construction shall apply for or against the drafter or any other Party.  Executive represents that she is free to enter into this Agreement including, without limitation, that she is not subject to any covenant not to compete or other restrictive covenant that would conflict with her employment duties and covenants under this Agreement.
If the Executive’s employment with the Company terminates for whatever reason, the Executive agrees to notify any subsequent employer of the restrictive covenants contained in this Agreement.  In addition, the Executive authorizes the Company to provide a copy of the restrictive covenants sections of this Agreement to third parties, including but not limited to, the Executive’s subsequent, anticipated or possible future employer.
4.3Dispute Resolution
If there is a dispute arising out of or related to this Agreement, and if the dispute cannot be settled through direct discussions, the aggrieved party shall by written notice demand that the dispute be submitted to non-binding mediation before any action is filed in a court or other forum. Executive and the Company hereby agree to endeavor to settle the dispute in an amicable manner by participating in non-binding mediation held in Houston, Harris County, Texas or such other location as agreed by the Parties, before a mediator jointly selected by the Parties, before either party seeks recourse in court or an arbitral forum (except as otherwise set forth in this Agreement). The Parties agree to make a good faith attempt to resolve the dispute through mediation within thirty (30) days after the written demand for mediation is received by the non-aggrieved party. If the dispute remains unresolved more than thirty (30) days after the written demand for mediation is received by the non-aggrieved party, either party may initiate the filing of an action in court or other forum. The cost of mediation shall be split equally between the Parties and each party shall bear its own costs and attorneys’ fees related to the mediation. Nevertheless, this provision does not in any way restrict the right of the Company to take actions outlined in this Agreement prior to engaging in the Dispute Resolution provisions set forth in this Section 4.15, including, but not limited to: (1) to immediately seek the enforcement of any of the restrictive covenants contained in this Agreement or any other surviving agreement in order to protect the Company from immediate and irreparable harm, including by filing an action in a court or other forum; (2) to terminate Executive for Cause pursuant to Section 1.1 of this Agreement; and (3) to enforce the forfeiture provisions set forth in Section 3.12 of this Agreement. Further, as set forth in Section 3.2 of this Agreement, nothing in this Agreement is intended to interfere with Executive’s rights under the law, including her right to report possible violations of federal, state, or local law or regulations, or to file a charge, complaint, or claim with any governmental agency or entity charged with enforcement of any law, including, but not limited to, the Equal Employment Opportunity Commission.  
			
	

			
	

			
	

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4.4Counterparts
This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.  Each counterpart may consist of a copy hereof containing multiple signature pages, each signed by one Party hereto, but together signed by both Parties.
[Signature page follows.]

			
	

			
	

			
	

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IN WITNESS WHEREOF the Company and Parent have caused this Agreement to be executed and delivered by their duly authorized officers in that capacity, and the Executive has executed this Agreement on her behalf, to be effective as of the Effective Date first written above. 
						
	Accepted and Agreed:

ENBRIDGE INC.

By:                        
Name:                     
Title:                     
Date:                     

By:                        
Name:                     
Title:                     
Date:                     
	

ENBRIDGE EMPLOYEE SERVICES, INC.

By:                        
Name:                     
Title:                     
Date:                     

WITNESS:                        EXECUTIVE:

Signature:                        Signature:                    
Name:                            Name:                        
Title:                             Date:                         
Date:                            
Executive’s Address for Notices:

                        
                        
                        
			
	

			
	

			
	

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APPENDIX A
SERVICE ON BOARDS OF DIRECTORS OR COMMITTEES

			
	

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APPENDIX B
TO
EMPLOYMENT AGREEMENT
GENERAL RELEASE AGREEEMENT

In consideration of the Separation Benefits set forth in Article 2 of that certain Employment Agreement (the “Employment Agreement”) dated as of [DATE], by and between Enbridge Employee Services, Inc. (the “Company”) and [ ] (“Executive”), as it may be amended from time to time, this Release Agreement (the “Agreement”) is made and entered into by the Company and Executive.  The Company and Executive may sometimes hereafter be referred to singularly as a “Party” or collectively as the “Parties.” 
By signing this Agreement, Executive and the Company agree as follows:
1.Purpose.  The purpose of this Agreement is to provide for the orderly termination of the employment relationship between the Parties, and to voluntarily resolve any actual or potential Disputes (as defined in the Employment Agreement) or claims that Executive has or might have, as of the date of Executive’s execution of this Agreement, against the Company and the other Released Parties (as defined in Section 8 hereof).  Neither the fact that this Agreement has been proposed or executed, nor the terms of this Agreement, are intended to suggest, or should be construed as suggesting, that any of the Released Parties have acted unlawfully or violated any federal, state or local law or regulation, or any other duty, policy or contract.
2.Termination of Employment.  Effective [●] (the “Termination Date”), Executive’s employment with the Company and all of its Affiliates, was terminated. 
3.Separation Benefits.  In consideration for Executive’s execution of, and required performance under, this Agreement, the Company shall provide Executive with the Separation Benefits (as such term is defined in the Employment Agreement), which benefits Executive would not otherwise have received, or been entitled to receive, other than those benefits that are required to be paid or provided under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or other applicable laws.  All Company perquisites have ceased upon the Termination Date, and all payments hereunder shall be subject to applicable federal, foreign, state and local taxes, as required by law.  
4.Waiver of Additional Compensation or Benefits.  The Separation Benefits to be paid to Executive under Section 3 above constitute the entire amount of compensation and consideration due to Executive under this Agreement or any other agreement, policy, plan or arrangement of the Company providing for severance or separation benefits.  Executive acknowledges that she has no right to seek, and will not seek, any additional or different compensation or consideration for executing or performing under this Agreement.  
The Parties acknowledge and agree that Executive is not releasing claims to employee benefits pursuant to the Company’s or its Affiliates’ employee benefit plans that are subject to ERISA which explicitly provide for the payment of benefits following the Termination Date. 
			
	

			
	

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5.Tax Consequences and 409A.  The Company will report the payment(s) referred to in Section 3 to the IRS as required by law. The Company has made no representations to Executive regarding the tax consequences of any Separation Benefit received by Executive under this Agreement.  To the extent that any payments or benefits provided hereunder are considered deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and not exempt from the application of Code Section 409A, this Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment under this Agreement becomes subject to (a) the gross income inclusion under Code Section 409A or (2) the interest and additional tax under Code Section 409A (collectively, the “Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of the Section 409A Penalties.  For purposes of Code Section 409A, each payment that Executive may be eligible to receive under the Agreement will be treated as a separate and distinct payment and shall not collectively be treated as a single payment.  If any provision of this Agreement would cause Executive to incur the Section 409A Penalties, the Company may, after consulting with Executive, reform such provision to comply with Code Section 409A or to preclude imposition of the Section 409A Penalties, to the full extent permitted under Code Section 409A.  
6.Certain Continuing Obligations.  Executive acknowledges and agrees that certain provisions and post-employment covenants and obligations in the Employment Agreement shall survive the (a) termination of the employment relationship, (b) termination of the Employment Agreement, and (c) the execution of this Agreement; and Executive hereby agrees to fully honor her post-employment covenants and obligations as set forth in the Employment Agreement.  
7.Executive Representations.  Executive expressly acknowledges and represents, and intends for the Company to rely upon her representations that she:
(1)Has not filed any complaints, claims or actions against the Company or its Affiliate with any court, agency, or commission regarding the matters encompassed by this Agreement and that she will not do so at any time in the future; and that if any court or agency assumes jurisdiction of any complaint, claim or action against the Company or its Affiliate on behalf of Executive, she will direct that court or agency to withdraw from or dismiss with prejudice the matter.
(2)Understands that she is, by entering into this Agreement, releasing the Released Parties, including the Company and its Affiliates, from and against any and all claims she has or may ever have against them under federal, state, or local laws, which claims have arisen on or before the date of her execution of this Agreement.
(3)Understands that she is, by entering into this Agreement, waiving all claims that she may have against the Released Parties under the federal Age Discrimination in Employment Act of 1967, as amended, which have arisen on or before the date of her execution of this Agreement. 
(4)Has reviewed all aspects of this Agreement, and has carefully read and fully understands all of the provisions and effects of this Agreement. 
(5)Has been, and is hereby, advised in writing to consult with an attorney of her choice before signing this Agreement. 
			
	

			
	

			
	

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(6)Is knowingly and voluntarily entering into this Agreement, and has relied solely and completely upon her own judgment and, if applicable, the advice of her own attorney in entering into this Agreement. 
(7)Is not relying upon any representations, promises, predictions, projections, or statements made by or on behalf of any Released Party, other than those that are specifically stated in this written Agreement.
(8)Does not waive rights or claims that may first arise after the date this Agreement is signed by Executive.
8.General Release and Waiver.  In consideration of the Separation Benefits and other consideration provided for in this Agreement, that being good and valuable consideration, the receipt, adequacy and sufficiency of which are acknowledged by Executive, Executive, on her own behalf and on behalf of her agents, administrators, representatives, executors, successors, heirs, devisees and assigns (individually, “Releasing Party”, and collectively, the “Releasing Parties”) hereby fully releases, remises, waives, acquits and forever discharges the Company, the Company’s owners, parents, subsidiaries, and all of its Affiliates, and each of their respective past, present and future officers, directors, agents, employees, owners, employee benefit plans and associated plan fiduciaries, consultants, advisors, independent contractors, attorneys, representatives, successors and assigns (individually, “Released Party”, and collectively, the “Released Parties”), jointly and severally, from any and all claims, rights, demands, debts, obligations, losses, causes of action, suits, controversies, setoffs, affirmative defenses, counterclaims, third party actions, damages, penalties, costs, expenses, attorneys’ fees, liabilities and indemnities of any kind or nature whatsoever (individually, “Claim”, and collectively, the “Claims”), whether known or unknown, suspected or unsuspected, accrued or unaccrued, whether at law, equity, administrative, statutory or otherwise, and whether for injunctive relief, back pay, fringe benefits, reinstatement, reemployment, or compensatory, punitive or any other kind of damages, which any of the Releasing Parties ever had in the past or presently have against any of the Released Parties arising from or relating to Executive’s employment with the Company or its Affiliates or the termination of that employment relationship or any circumstances related thereto, including without limitation all claims arising under or relating to her employment, any alleged employment agreement or other agreement, bonuses, any bonus plan, any long term incentive plan, termination from employment, any other claimed payments, employment contracts, benefits or bonuses or purported employment discrimination, retaliation, wrongdoing or violations of civil rights of whatever kind or nature, including without limitation all claims arising under any other alleged agreement, the Age Discrimination in Employment Act, the Americans with Disabilities Act of 1990, as amended, the Family and Medical Leave Act of 1993, the Equal Pay Act of 1963, the Rehabilitation Act of 1973, Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 1981, the Civil Rights Act of 1991, the Civil Rights Acts of 1866 and/or 1871, the Employee Retirement Income Security Act of 1974, the Immigration Reform and Control Act, the Older Workers Benefit Protection Act, the Uniformed Services Employment and Re-Employment Rights Act, the Worker Adjustment and Retraining Notification Act, the Sarbanes-Oxley Act of 2002, the Lilly Ledbetter Fair Pay Act of 2009, the Genetic Information Nondiscrimination Act, the National Labor Relations Act, the Labor Management Relations Act, the Fair Labor Standards Act, the Occupational Safety and Health Act, the Employee Polygraph Protection Act, the Texas Labor Code, the Texas Payday Law, the Texas Commission on Human Rights Act or Chapter 21, any statute or laws of the State of Texas, or any other federal, state or local whistleblower, discrimination or anti-retaliation statute, law or ordinance, including, without limitation, claims for wrongful discharge, breach of express or implied contract 
			
	

			
	

			
	

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or implied covenant of good faith and fair dealing, any alleged employment agreement or other agreement, and any other claims arising under state or federal law, as well as any expenses, costs and attorneys’ fees.
For greater certainty, but not so as to limit in any way the scope of this Section 8, the Releasing Party hereby fully releases, remises, waives, acquits and forever discharges the Released Parties, jointly and severally, from any and all claims:
(a)for damages, salary, wages, termination pay, notice, pay in lieu of notice, severance pay, overtime pay, vacation pay, commissions, bonuses, expenses, allowances, incentive payments, stock options, moving or relocation costs, insurance or any other benefits arising out of Executive’s employment with the Company or the termination of that employment;
(b)for loss of position, status, future job opportunities, or reputation;
(c)in respect of or for any past acts of discrimination and acknowledges that the execution of this Release precludes the consideration of any complaint pursuant to the Canadian Human Rights Act, the Alberta Human Right Act, the Ontario Human Rights Code, or any complaint to any adjudicator or commission pursuant to any applicable provincial or territorial human rights legislation; and
(d)in respect of wages, overtime pay, vacation pay, general holiday pay or any other pay to which she is entitled by virtue of the Canada Labour Code, the Alberta Employment Standards Code, the Ontario Employment Standards Act, 2000 or pursuant to any other applicable provincial or territorial employment or labour standards legislation.

Except as required by law, Executive agrees that she will not commence, maintain, initiate, or prosecute, or cause, encourage, assist, volunteer, advise or cooperate with any other person to commence, maintain, initiate or prosecute, any action, lawsuit, proceeding, charge, petition, complaint or claim before any court, agency or tribunal against the Company arising from, concerned with, or otherwise relating to, in whole or in part, Executive’s employment or separation from employment with the Company (or any Affiliate thereof), or any of the matters discharged and released in this Agreement.
This release shall not apply to (i) the performance of any of the Company’s obligations under this Agreement, (ii) any rights to indemnification or directors’ and officers’ insurance coverage (including as a fiduciary of any employee benefit plan), or to inclusion as a beneficiary of any insurance policy related to Executive’s service as an employee, director, officer, or fiduciary of the Company, an Affiliate, or the Parent, or COBRA continuation coverage (which shall be subject to COBRA law and regulation), (iii) Executive’s interest in any vested accrued benefit or account balance under any employee benefit plan subject to the Employment Retirement Income Security Act of 1974, as amended (such as the Company’s 401(k) plan or disability plans) to which Executive is entitled under terms and conditions of such plan, or (iv) equity incentive awards (excluding any unvested stock options that are subject to Section 2.6(f) of the Employment Agreement) that were granted to the Executive and are outstanding on the Termination Date, which equity incentive awards shall remain subject to the terms and conditions of their applicable award agreements and any associated plans; (v) any rights as a shareholder of Company or Parent, (vi) reimbursement of unreimbursed business 
			
	

			
	

			
	

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expenses properly incurred prior to the Termination Date in accordance with policy of the Company, (vii) any claim for unemployment compensation workers’ compensation administered by a state, federal, or other government to which Executive is presently or may become entitled; or (vii) any claim the Company has breached this Agreement.  Executive acknowledges that certain of the Separation Benefits provided for in Section 3 constitute good and valuable consideration for the release contained in this Section 8. 
9.Right to File Charges; Participation in Investigations.  Notwithstanding any other provision of this Agreement to the contrary, the Parties understand and agree that (a) Executive may disclose confidential information when required to do so by a court of competent jurisdiction, by any governmental agency having authority over Executive or the business of the Company or by any administrative body or legislative body (including a committee thereof) with jurisdiction to order Executive to divulge, disclose or make accessible such information, in each case, subject to Executive’s obligations to notify the Company under Section 10 of this Agreement; and (b) nothing in this Agreement is intended to interfere with Executive’s right to (1) report possible violations of federal, state, or local law or regulation to any governmental or law enforcement agency or entity; (2) make other disclosures that are protected under the whistleblower provisions of federal, state, or local law or regulation (including, but not limited to, any legally protected whistleblower rights pursuant to Rule 21F promulgated under the Securities Exchange Act of 1934, as amended, and the right to receive an award for information provided to any such government agencies); (3) prevent or otherwise interfere with the Executive’s right to file a charge, complaint, or claim with any governmental agency or entity charged with enforcement of any law, including, but not limited to, the Equal Employment Opportunity Commission (the “EEOC”); or (4) cooperate, participate in or provide truthful testimony to the EEOC or any other federal, state or local governmental or law agency or entity or any court with respect to any investigation, hearing, or proceeding being conducted by a governmental or law agency or entity or any court. 
For purposes of clarity, in making or initiating any such reports or disclosures or engaging in any of the conduct outlined in subsection (b) above, Executive may disclose confidential information to the extent necessary to such governmental or law enforcement agency or entity or such court, need not seek prior authorization from the Company, and is not required to notify the Company of any such reports, disclosures or conduct.
Notwithstanding anything to the contrary, however, the Parties agree that such filing or participation does not give Executive the right to recover any damages or equitable relief (including, but not limited to, reinstatement, back pay, front pay, damages, and attorneys’ fees) against any of the Released Parties based on Executive’s release of claims in this Agreement.
Furthermore, under this Agreement, Executive does hereby waive any and all rights of Executive to seek or receive monetary and any other recovery, legal or equitable, in the event that any charge which Executive files is pursued by the EEOC (or any similar federal, state or local agency) on Executive’s behalf arising out of or related to Executive’s employment or the termination of such employment, unless otherwise required under applicable law that cannot be waived.
10.Mutual Non-Disclosure and Confidentiality.  The Parties agree to keep confidential the specific terms of this Agreement, the facts and circumstances of Executive’s employment, and the events giving rise to this Agreement, and they shall not disclose 
			
	

			
	

			
	

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same to any Person, except that (a) Executive may inform Executive’s spouse, financial, tax, professional, pastoral and legal advisors of the contents or terms of this Agreement; (b) in the event of any claim of sexual harassment or sexual assault made on or after the Effective Date of this Agreement, neither party shall be prohibited from disclosing the facts and events giving rise to such claim(s) or otherwise discussing those claims in any public or private forum, except that Executive must first (i) provide notice to the Chief Compliance Officer or the Ethics and Compliance Group and (ii) both parties must allow up to thirty (30) days for the Company to complete an investigation into Executive’s claims prior to making such disclosures; and (iii) during the 30-day restricted period, Executive may disclose to individuals outside of Enbridge (including, but not limited to, disclosure to a medical provider, counselor, or family member), in a private forum (which does not include any social media account), but before any such private external disclosure, Executive must inform the individual that the information must be kept confidential through the remainder of the restricted period; and (c) the Company or any of its Affiliates may disclose the terms of this Agreement, the facts and circumstances of Executive’s employment, and the facts and circumstances giving rise to this Agreement to those Persons as needed (including to implement the terms of this Agreement). Before sharing the Agreement or its terms with Executive’s financial, tax and legal advisors, Executive agrees to notify them of this confidentiality requirement. Notwithstanding the foregoing, the parties acknowledge that they may disclose information as set forth in Paragraph 9, above. For the avoidance of doubt, the 30-day restricted period shall not apply to any claim of sexual harassment or sexual assault made by Executive to the Chief Compliance Officer or the Ethics and Compliance Group prior to the Effective Date of this Agreement. 
If Executive or the Company is required to disclose the Agreement or any other confidential matter to others by legal or governmental or regulatory process, or discloses the Agreement in connection with litigation between Executive and the Company, the Party so ordered or so disclosing shall to the extent practical under the circumstances first give notice to the other Party in order that such other Party may have an opportunity to seek a protective order.  The Parties shall cooperate with each other, should either decide to seek a protective order with all costs and expenses being borne by the Party seeking such order.  Executive represents that at all times prior to her execution of this Agreement she has complied with the non-disclosure, confidentiality, non-disparagement, non-solicitation and no-recruitment obligations of this Agreement and the Employment Agreement.  In the event that Executive breaches any such non-disclosure, confidentiality, non-disparagement, non-solicitation or no-recruitment provisions (and, if curable, fails to cure such breach to the satisfaction of the Company, as determined in its sole discretion, within 30 days following written notice from the Company of such breach), regardless of whether such breach occurs before or after Executive executes this Agreement, Executive forfeits any and all rights to the Separation Benefits.  
11.No Assignment of Claims.  Executive represents that she has not transferred or assigned, to any person or entity, any Claim involving the Company or any other Released Party, or any portion thereof or interest therein.
12.Binding Effect of Agreement.  This Agreement shall be binding upon the Company and its successors and assigns, and upon Executive and her heirs, spouse, representatives, successors and assigns.
13.Severability.  Should any provision of this Agreement be declared or determined to be illegal or invalid by any government agency or court of competent jurisdiction, the 
			
	

			
	

			
	

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validity of the remaining parts, terms or provisions of this Agreement shall not be affected and such provisions shall remain in full force and effect.
14.No Waiver.  This Agreement may not be waived, modified, amended, supplemented, canceled or discharged, except by written agreement of the Parties.  Failure to exercise and/or delay in exercising any right, power or privilege in this Agreement shall not operate as a waiver.  No waiver of any breach of any provision shall be deemed to be a waiver of any preceding or succeeding breach of the same or any other provision, nor shall any waiver be implied from any course of dealing between or among the Parties.  
15.Entire Agreement.  This Agreement sets forth the entire agreement between the Parties, and fully supersedes any and all prior agreements, understandings, or representations between the Parties, whether oral or written, between the Parties, pertaining to the subject matter of this Agreement and Executive’s employment or termination of employment with the Company.  No oral statements or other prior written material not specifically incorporated into this Agreement shall be of any force and effect, and no changes in or additions to this Agreement shall be recognized, unless incorporated into this Agreement by written amendment, with any such amendment to become effective as of the date stipulated in it.  Any amendment to this Agreement must be signed by both Parties.  Executive represents and acknowledges that in executing this Agreement, Executive does not rely on, has not relied on, and specifically disavows any reliance on, any communications, promises, statements, inducements, or representations, oral or written, by the Company or its Affiliates, attorneys or agents, except as expressly contained in this Agreement.  Executive further represents that Executive is relying on her own judgment in entering into this Agreement.  
16.Venue.  The Parties hereby agree that the exclusive venue for any and all Disputes, controversies, suits or other proceedings relating to or arising out of this Agreement or out of the employment relationship shall be in the United States District Court for the Southern District of Texas, or a state district court of competent jurisdiction in Harris County, Texas.  Executive consents to personal jurisdiction of such courts to adjudicate any Dispute or other controversy relating to or arising out of this Agreement, the Employment Agreement, or Executive’s employment or termination of employment, and Executive agrees that she shall not challenge personal or subject matter jurisdiction in such courts.  EACH OF THE PARTIES HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES TRIAL BY JURY IN ANY LITIGATION, ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION WITH THIS AGREEMENT.
17.Twenty-One Days to Consider Offer of Separation Benefits.  Executive shall have, and by signing this Agreement Executive acknowledges and represents, that she has had, the opportunity to take at least twenty-one (21) days after the date of her receipt of this Agreement to consider whether to elect to sign it and to thereby waive and release the rights and Claims addressed in this Agreement.  Although Executive may sign this Agreement prior to the end of the 21-day period, Executive may not sign this Agreement on or before the Termination Date.  In addition, if Executive signs this Agreement prior to the end of the 21-day period, Executive shall be deemed, by doing so, to have certified and agreed that the decision to make such election prior to the expiration of the 21-day period of time is knowing and voluntary and was not induced by the Company through:  (a) fraud, misrepresentation, or a threat to withdraw or alter the offer prior to the end of the 21-day period; or (b) an offer to provide different terms or benefits in exchange for signing the Agreement prior to the expiration of the 21-day period.  Executive has been advised to consult with an attorney with regard to her decision as to whether or not to enter into this Agreement.
			
	

			
	

			
	

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Executive must sign and return the executed Release within the period that ends at the close of the business day that occurs on or next following twenty-one (21) calendar days after the day that she receives the Release on or after the Termination Date.  No Separation Benefits shall be payable or provided by the Company unless and until the Release has been executed by Executive, has not been revoked, and is no longer subject to revocation by Executive.  The Separation Benefits shall be paid or provided by the Company within sixty (60) days of the Executive’s Termination Date, but only if the Release has been properly executed by Executive and is not revoked within the seven (7) day revocation period described below, regardless of the date on which the Release was actually executed by Executive.  In the event that such 60-day period spans two calendar years, the Separation Benefits will be paid in the later year.  If the conditions set forth in the preceding sentence are not satisfied by Executive, the Separation Benefits shall be forfeited hereunder without the necessity of any further notice.
18.Seven Day Revocation Period.  Executive may revoke this Agreement at any time within seven (7) days after she signs it.  To revoke the Agreement, Executive must deliver written notification of such revocation to the attention of President & CEO, Enbridge Inc. within seven (7) days after the date Executive signs this Agreement.
19.Knowing and Voluntary Waiver.  Executive, by Executive’s free and voluntary act of signing below, (a) acknowledges that she has been given a period of twenty-one (21) days to consider whether to agree to the terms contained herein, (b) acknowledges that she has been advised in writing to consult with an attorney prior to executing this Agreement, (c) acknowledges that she understands that this Agreement specifically releases and waives all rights and claims that Executive may have under the Age Discrimination in Employment Act, as amended, prior to the date on which Executive signs this Agreement, and (d) agrees to all of the terms of this Agreement and intends to be legally bound thereby.
This Agreement will become effective, enforceable and irrevocable on the eighth day after the date on which it is executed by Executive (the “Effective Date”).  During the seven-day period prior to the Effective Date, Executive may revoke her agreement by indicating in writing to the Company her intention to revoke as set forth in paragraph 18.  If Executive exercises her right to revoke hereunder, Executive shall forfeit her right to receive the Separation Benefits.
20.Executive Acknowledgment.  Executive acknowledges that (a) she is knowledgeable and sophisticated as to business matters, including the subject matter of this Agreement, (b) she has read this Agreement and understands its terms and conditions, (c) she has had ample opportunity to discuss this Agreement with her personal legal counsel prior to execution, and (d) no strict rules of construction shall apply for or against the drafter or any other Party.
21.Counterparts.  This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.  Each counterpart may consist of a copy hereof containing multiple signature pages, each signed by one Party hereto, but together signed by both Parties.
22.Miscellaneous.  Should any provision of this Agreement be declared or be determined by any court of competent jurisdiction to be illegal, invalid or unenforceable, all remaining provisions of this Agreement shall otherwise remain in full force and effect and be 
			
	

			
	

			
	

________Executive’s initials    B-8			
	

			
	

construed as if such illegal, invalid, or unenforceable provision has not been included herein.
It is further understood and agreed that if a violation of any term of this Agreement is asserted, the Party who asserts such violation will have the right to seek specific performance of that term and/or any other necessary and proper relief as permitted by law, including but not limited to, damages from any court of competent jurisdiction, and the prevailing Party shall be entitled to recover its reasonable costs and attorney’s fees.
Executive further understands and agrees that if she, or someone acting on her behalf, files, or causes to be filed, any charge, complaint, or action in respect of Claims released hereunder against the Company and/or any other Released Parties, she expressly waives any right to recover any damages or other relief whatsoever from the Company and/or other Released Parties, including costs and attorneys’ fees.
23.Choice of Law.  This Agreement shall be governed by, and construed and interpreted in accordance with, the laws of the State of Texas without regard to principles of conflict of laws.
24.Defend Trade Secrets Act.  Executive is hereby notified that in accordance with the Defend Trade Secrets Act of 2016, as it may be amended from time to time, that, notwithstanding any provision of this Agreement (or any other agreement with the Company regarding confidentiality) to the contrary, Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (2) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.  Executive is further notified that if Executive files a lawsuit for retaliation against the Company for reporting a suspected violation of law, Executive may disclose the Company’s trade secrets to Executive’s attorney and use the trade secret information in the court proceeding if Executive files any document containing the trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to a court order. 
25.If there is a dispute arising out of or related to this Agreement, and if the dispute cannot be settled through direct discussions, the aggrieved party shall by written notice demand that the dispute be submitted to non-binding mediation before any action is filed in a court or other forum. Executive and the Company hereby agree to endeavor to settle the dispute in an amicable manner by participating in non-binding mediation held in Houston, Harris County, Texas or such other location as agreed by the Parties, before a mediator jointly selected by the Parties, before either party seeks recourse in court or an arbitral forum (except as otherwise set forth in this Agreement). The Parties agree to make a good faith attempt to resolve the dispute through mediation within thirty (30) days after the written demand for mediation is received by the non-aggrieved party. If the dispute remains unresolved more than thirty (30) days after the written demand for mediation is received by the non-aggrieved party, either party may initiate the filing of an action in court or other forum. The cost of mediation shall be split equally between the Parties and each party shall bear its own costs and attorneys’ fees related to the mediation. Nevertheless, this provision does not in any way restrict the right of the Company to take actions outlined in this Agreement or in the Employment Agreement prior to engaging in the Dispute Resolution provisions set forth in this Section 25, including, but not limited to: (1) to immediately seek the enforcement of any of the restrictive covenants contained in this Agreement or any other surviving agreement in 
			
	

			
	

			
	

________Executive’s initials    B-9			
	

			
	

order to protect the Company from immediate and irreparable harm, including by filing an action in a court or other forum; (2) to terminate Executive for Cause pursuant to Section 1.1 of the Employment Agreement; and (3) to enforce the forfeiture provisions set forth in Section 3.12 of the Employment Agreement. Further, as set forth in Section 3.2 of the Employment Agreement, nothing in this Agreement is intended to interfere with Executive’s rights under the law, including her right to report possible violations of federal, state, or local law or regulations, or to file a charge, complaint, or claim with any governmental agency or entity charged with enforcement of any law, including, but not limited to, the Equal Employment Opportunity Commission.  

[Signature page follows.]

			
	

			
	

			
	

________Executive’s initials    B-10			
	

			
	

THIS AGREEMENT INCLUDES A RELEASE OF CLAIMS, INCLUDING A RELEASE OF CLAIMS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT.  BEFORE SIGNING THIS AGREEMENT, YOU MAY TAKE IT HOME, READ IT, AND CAREFULLY CONSIDER IT.  IF YOU CHOOSE, DISCUSS THIS AGREEMENT WITH YOUR ATTORNEY (AT YOUR OWN EXPENSE).
I HEREBY ACKNOWLEDGE THAT I HAVE CAREFULLY READ THE FOREGOING AGREEMENT, I UNDERSTAND ALL OF ITS TERMS, I AM RELEASING CLAIMS, AND I AM ENTERING INTO THIS AGREEMENT VOLUNTARILY.

WITNESS:                    EXECUTIVE:

Signature:                    Signature:                    
Name:                        Name:                         
Date:                        Date:                         

Executive’s Address for Notices:

                        
                        
                        

ENBRIDGE EMPLOYEE SERVICES, INC.

By:                         
Name:                         
Title:                         
Date:                         

			
	

			
	

			
	

________Executive’s initials    B-11EX-10.1

 EXHIBIT 10.1 

 
  

 
 ASSET PURCHASE AGREEMENT 

by and between 

ASURION, LLC 
 and

 ENJOY TECHNOLOGY, INC., 

ENJOY TECHNOLOGY OPERATING CORP., 

and 
 ENJOY TECHNOLOGY
LLC 
 dated as of 

July 25, 2022 
  

 
  

 TABLE OF CONTENTS 

 

							
	 ARTICLE I PURCHASE AND SALE
	  	 	2	 
	 1.1
	 	Purchase and Sale of the Transferred Assets	  	 	2	 
	 1.2
	 	Assumption/Rejection of Certain Contracts	  	 	6	 
		
	 ARTICLE II BANKRUPTCY COURT APPROVAL AND OTHER MATTERS
	  	 	8	 
	 2.1
	 	Stalking Horse Bidder and Sale Process	  	 	8	 
	 2.2
	 	Bankruptcy Court Matters	  	 	8	 
	 2.3
	 	Entry of Order Approving Sale	  	 	9	 
	 2.4
	 	Certain Bankruptcy Undertakings by Sellers	  	 	10	 
	 2.5
	 	Break-Up Fee and Expense Reimbursement	  	 	10	 
		
	 ARTICLE III INSTRUMENTS OF TRANSFER AND ASSUMPTION
	  	 	11	 
	 3.1
	 	Transfer Documents	  	 	11	 
		
	 ARTICLE IV CONSIDERATION; ALLOCATION
	  	 	11	 
	 4.1
	 	Consideration	  	 	11	 
	 4.2
	 	Allocation	  	 	11	 
	 4.3
	 	Customer Holdback	  	 	12	 
	 4.4
	 	No Good Faith Deposit	  	 	12	 
		
	 ARTICLE V CLOSING
	  	 	12	 
	 5.1
	 	Closing Date	  	 	12	 
		
	 ARTICLE VI REPRESENTATIONS AND WARRANTIES OF SELLERS
	  	 	12	 
	 6.1
	 	Organization, Qualification and Authority	  	 	13	 
	 6.2
	 	Authorization, Execution and Delivery of Agreement and Transaction Documents	  	 	13	 
	 6.3
	 	Title to and Condition of Assets	  	 	13	 
	 6.4
	 	Legal Proceedings	  	 	14	 
	 6.5
	 	Real Property	  	 	14	 
	 6.6
	 	No Violation of Laws or Agreements	  	 	15	 
	 6.7
	 	Employee Benefits; ERISA Matters; Employees and Independent Contractors	  	 	15	 
	 6.8
	 	Financial Statements	  	 	15	 
	 6.9
	 	Absence of Certain Changes	  	 	16	 
	 6.10
	 	Contracts	  	 	18	 
	 6.11
	 	Customers; Suppliers	  	 	18	 
	 6.12
	 	Intellectual Property; Privacy	  	 	19	 
	 6.13
	 	Labor Matters	  	 	22	 
	 6.14
	 	Environmental Matters	  	 	22	 
	 6.15
	 	Compliance with Laws	  	 	23	 
	 6.16
	 	Prepaid Expenses; Deferred Revenue	  	 	23	 
	 6.17
	 	Brokers	  	 	23	 
	 6.18
	 	Permits	  	 	23	 
	 6.19
	 	Insurance	  	 	23	 
	 6.20
	 	Telephone Numbers and Internet Connections	  	 	23	 

  
 i 

							
	 6.21
	 	Taxes; Tax Returns	  	 	24	 
	 6.22
	 	Undisclosed Liabilities	  	 	24	 
		
	 ARTICLE VII REPRESENTATIONS AND WARRANTIES OF BUYER
	  	 	24	 
	 7.1
	 	Organization, Qualification and Authority	  	 	24	 
	 7.2
	 	Authorization, Execution and Delivery of Agreement and Transaction Documents	  	 	24	 
	 7.3
	 	Brokers	  	 	24	 
	 7.4
	 	No Violation of Laws or Agreements	  	 	25	 
		
	 ARTICLE VIII COVENANTS AND AGREEMENTS
	  	 	25	 
	 8.1
	 	Conduct of Business	  	 	25	 
	 8.2
	 	Mutual Covenants	  	 	26	 
	 8.3
	 	Notification of Certain Matters	  	 	27	 
	 8.4
	 	Access to Information	  	 	27	 
	 8.5
	 	Public Announcement	  	 	27	 
	 8.6
	 	Taxes	  	 	28	 
	 8.7
	 	Employees	  	 	28	 
	 8.8
	 	Further Assurances; Post-Closing Access	  	 	29	 
	 8.9
	 	Confidentiality	  	 	29	 
	 8.10
	 	No Survival of Representations and Warranties	  	 	29	 
	 8.11
	 	Communications and Activities with Customers and Suppliers	  	 	30	 
	 8.12
	 	Treatment of Contracts	  	 	30	 
	 8.13
	 	Transfer of Acquired Assets	  	 	30	 
	 8.14
	 	Inventory	  	 	30	 
	 8.15
	 	Change of Name	  	 	31	 
		
	 ARTICLE IX CONDITIONS PRECEDENT TO BUYER’S OBLIGATION TO CLOSE
	  	 	31	 
	 9.1
	 	Accuracy of Representations and Warranties; Performance of this Agreement	  	 	31	 
	 9.2
	 	Officer’s Certificate	  	 	31	 
	 9.3
	 	Transfer, Assignment and Assumption Documents	  	 	31	 
	 9.4
	 	Data Room	  	 	31	 
	 9.5
	 	Bankruptcy Matters	  	 	31	 
	 9.6
	 	Winning Bidder	  	 	31	 
	 9.7
	 	Required Consents	  	 	31	 
	 9.8
	 	HSR Filings	  	 	31	 
	 9.9
	 	AT&T Contract	  	 	32	 
	 9.10
	 	Financing	  	 	32	 
	 9.11
	 	Key Employee Agreements	  	 	32	 
	 9.12
	 	Other Employee Hires	  	 	32	 
	 9.13
	 	Accrued Compensation and Benefits	  	 	32	 
	 9.14
	 	No Material Adverse Effect	  	 	32	 
	 9.15
	 	Lease Obligation	  	 	32	 
	 9.16
	 	Payment of Fees and Expenses	  	 	32	 

  
 ii 

							
	 ARTICLE X CONDITIONS PRECEDENT TO SELLERS’ OBLIGATION TO CLOSE
	  	 	32	 
	 10.1
	 	Accuracy of Representations and Warranties; Performance of this Agreement	  	 	33	 
	 10.2
	 	Officer’s Certificate	  	 	33	 
	 10.3
	 	Transfer, Assignment and Assumption Documents	  	 	33	 
	 10.4
	 	Bankruptcy Matters	  	 	33	 
	 10.5
	 	Winning Bidder	  	 	33	 
	 10.6
	 	HSR Filings	  	 	33	 
		
	 ARTICLE XI TERMINATION
	  	 	33	 
	 11.1
	 	Breaches and Defaults; Opportunity to Cure	  	 	33	 
	 11.2
	 	Termination	  	 	33	 
		
	 ARTICLE XII MISCELLANEOUS
	  	 	34	 
	 12.1
	 	Notices	  	 	34	 
	 12.2
	 	Expenses	  	 	35	 
	 12.3
	 	Governing Law	  	 	35	 
	 12.4
	 	Assignment	  	 	35	 
	 12.5
	 	Successors and Assigns	  	 	35	 
	 12.6
	 	Amendments; Waivers	  	 	36	 
	 12.7
	 	Entire Agreement	  	 	36	 
	 12.8
	 	Counterparts	  	 	36	 
	 12.9
	 	Severability	  	 	36	 
	 12.10
	 	Section Headings	  	 	36	 
	 12.11
	 	Interpretation	  	 	36	 
	 12.12
	 	Third Parties	  	 	36	 
	 12.13
	 	Specific Performance	  	 	36	 
	 12.14
	 	Disclosure Schedule and Exhibits	  	 	37	 
	 12.15
	 	Release	  	 	37	 
	 12.16
	 	Definitions	  	 	38	 

  
 iii 

 ASSET PURCHASE AGREEMENT 

THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of July 25, 2022 by and between
Asurion, LLC, a Delaware limited liability company (“Buyer”), and Enjoy Technology, Inc., a Delaware corporation (“Enjoy”), Enjoy Technology Operating Corp., a Delaware corporation (“Enjoy
Operating”) and Enjoy Technology LLC, a Delaware limited liability company (“Enjoy LLC” and, together with Enjoy and Enjoy Operating, each a “Seller” and, collectively, “Sellers”).
Capitalized terms used but not defined in the context in which they are used shall have the respective meanings assigned to such terms in Section 12.16. 

WHEREAS, on June 30, 2022, each Seller filed a voluntary petition for relief under Chapter 11 of the United States
Bankruptcy Code, 11 U.S.C. § 101, et seq. (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court” and the cases arising under each such
petition, collectively, the “Voluntary Bankruptcy Cases”); 
 WHEREAS, Sellers are engaged, among other
things, in the business of providing services in connection with, and in support of, the AT&T Contract to bring products, services and subscriptions directly to consumers and, in connection therewith, the development of proprietary intellectual
property relating thereto, inventory management, and owning, operating and managing a network of “mobile stores”, including both leased physical locations and a fleet of leased vehicles, with significant inventory on consignment and
trained personnel to bring retail store experiences directly to the consumer (the “Business”); 
 WHEREAS,
Sellers desire to sell, transfer, convey, assign and deliver to Buyer, in accordance with Sections 363 and 365 and the other applicable provisions of the Bankruptcy Code, all of the Transferred Assets, free and clear of all Liens, together with
the Assumed Liabilities of Sellers, upon the terms and subject to the conditions set forth in the Agreement (collectively with the transactions contemplated by this Agreement and the other Transaction Documents, the “Transaction”);

 WHEREAS, Buyer wishes to purchase and take delivery of the Transferred Assets and assume the Assumed Liabilities upon such
terms and subject to such conditions; 
 WHEREAS, the Transferred Assets will be sold pursuant to the Sale Order under
Sections 363 and 365 of the Bankruptcy Code; 
 WHEREAS, certain of the obligations of Sellers under this Agreement are conditioned
upon the approval of the Bankruptcy Court in accordance with Article II; 
 WHEREAS, on or prior to the date hereof, Buyer has
entered into the Key Employee Agreements with the Key Employees to be effective as of the Closing; and 
 WHEREAS, the board of
directors (or similar governing body) of each Seller has determined that it is advisable and in the best interests of such Seller and its constituencies to enter into this Agreement and to consummate the Transactions provided for herein, subject to
entry of the Sale Order, and each has approved the same. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants, representations, warranties and agreements set forth in this Agreement, and intending to be legally bound hereby, the parties hereto agree as follows: 

 ARTICLE I 

PURCHASE AND SALE 
 1.1
Purchase and Sale of the Transferred Assets. 
 (a) Transferred Assets. On the terms and subject to the conditions set forth
in this Agreement and subject to the exclusions set forth in Section 1.1(b), at the Closing, Sellers shall sell, transfer, convey, assign and deliver to Buyer (or its designee, which Buyer shall specify in the Bill of
Sale(s) or Trademark Assignment Agreement(s), as applicable), and Buyer (or its designee) shall purchase, acquire and take assignment and delivery from Sellers, all of Sellers’ rights, title and interest in, to and under (i) the
Sellers-Owned Intellectual Property, whether or not used in or held for use in the Business, and (ii) all other assets, properties and rights (contractual or otherwise) owned by Sellers and relating to, used in or held for use in connection
with the Business, including supporting the performance of the AT&T Contract, excluding only the Excluded Assets (collectively, the “Transferred Assets”). Without limiting the foregoing, the Transferred Assets shall include all
of Sellers’ right, title and interest in, to and under the following: 
 (i) all accounts receivable of Sellers derived
from the operations of or otherwise related to the Business; 
 (ii) all tangible personal property of every kind, including
inventory (including each Seller’s rights with respect to all inventory or other assets held on consignment, including the right to possession thereof), supplies, equipment, furniture (including couches, tables, chairs, storage equipment,
rolling racks and other similar items), computers, tablets, telephones (including iPhones and other cellular devices), electronic and networking hardware (including servers, routers and switches), televisions and other audio/video equipment,
appliances, office and warehouse equipment and apparatuses, machinery and any other tangible personal property located at or in (and improvements and additions related thereto) any Leased Real Property or leased vehicle (“Tangible Personal
Property”) and any warranty or claims associated therewith; 
 (iii) subject to
Section 1.2, all Contracts and Leases of Sellers set forth on Section 1.1(a)(iii) of the Disclosure Schedule (the “Assumed Contracts”), which
Section 1.1(a)(iii) of the Disclosure Schedule may be updated by Buyer pursuant to Section 1.2, and all rights and interests of Sellers (but not their respective obligations) in, to and
under any confidentiality, non-solicitation, non-competition or invention assignment agreements (but not employment agreements) signed by former or current employees of
any Seller and other parties in favor of any Seller or its predecessors; 
 (iv) all Permits transferable to Buyer pursuant
to their terms and in accordance with applicable Laws; 
 (v) all Intellectual Property owned by any Seller and all other
Intellectual Property used or held for use in the Business, including (i) the name “Enjoy” and all related names and derivations, and all trademarks, service marks, tradenames and other Intellectual Property rights associated
therewith, (ii) Domain Names (including www.enjoy.com and any other domain names owned, used or held for use by any Seller or otherwise associated with the Business), (iii) websites and web pages, and all content thereof or associated
therewith, including located at or under the Domain Names described in the foregoing clause (ii) (collectively, the “Websites”) (including, without limitation, (A) web pages, support files and related information and data
associated with the Websites; (B) any and all Software, text, graphics, HTML or similar code, applets, scripts, programs, databases, source code, object code, templates, forms, image maps, 

  
 2 

 
documentation, audio files, video files, log files or customer data; (C) all content that has appeared in any past or present editions of the Websites, whether archived on the Websites or
otherwise; (D) all e-mail databases, and (E) the operation, concepts, look and feel of the Websites, the foregoing Website materials and business ideas associated with the Business), (iv) all
Software and other information technology, including Sellers-Owned Software; (v) e-mail addresses, telephone, fax and pager numbers owned, used or held for use by any Seller or otherwise in connection
with the Business, (vi) all training, marketing and other client or customer-facing material prepared by, for or in connection with the Business, (vii) all Registered Intellectual Property; and (viii) all Licensed Intellectual
Property used in, held for use or related to the Business and all documentary evidence thereof (including records, files, computer tapes or disks, or other media on or in which the same may be evidenced or documented); 

(vi) all books and records relating to the Transferred Assets or the Business, including customer or client lists, historical
customer data, files, documentation and other records and such records required to be maintained pursuant to the AT&T Contract (including Section 4.9 thereof); provided, however, that Sellers shall have the right to reasonable
access to such books and records acquired by Buyer in order to administer their bankruptcy estates; 
 (vii) all claims,
indemnities, warranties, guarantees, refunds, causes of action, rights of recovery, rights of setoff and rights of recoupment of every kind and nature (whether or not known or unknown or contingent or
non-contingent) related to the Transferred Assets or the Business (other than those constituting the Excluded Assets) and all rights to enforce, in the name and on behalf of itself and each Seller and its
predecessors, and interests of Sellers in, the provisions of any Contract not constituting an Assumed Contract, which is signed by a former or current employee of any Seller or other parties in favor of any Seller or its predecessors, protecting the
confidential or proprietary information of any Seller or its predecessors, prohibiting or restricting any solicitation or interference with any employee, customer or other business relation of, or any activities that are competitive with, any Seller
or its predecessors or the Business, or otherwise providing for the assignment of Intellectual Property created at the direction of or used or held for use in connection with the Business (or similar protective covenants with respect to any such
Intellectual Property), and all rights in favor of any Seller or its predecessors under any other Contracts related to the Business as it relates to the Transferred Assets; 

(viii) all deposits and prepayments held by third parties pursuant to any Assumed Contract; 

(ix) all Sellers’ rights to telephone number(s), email addresses and websites used by Sellers in connection with the
Business; 
 (x) all rights of Sellers to receive insurance proceeds to the extent that such proceeds are paid after Closing
to reimburse Sellers for damages or losses which occurred on or before the Closing Date to any Transferred Assets; 
 (xi)
the bank accounts of Sellers listed on Section 1.1(a)(xi) of the Disclosure Schedule (the “Transferred Bank Accounts”) (which Section 1.1(a)(xi) of the Disclosure Schedule may be
updated by Buyer prior to Closing in its sole and absolute discretion), but expressly excluding any cash in the Transferred Bank Accounts and any Closing Cash Consideration except to the extent necessary to cover checks issued by Sellers prior to
the Closing and any other payments in process that have not yet cleared as of the Closing Date; 

  
 3 

 (xii) except as provided in Section 1.1(b), all
claims and actions of Sellers arising under Sections 544, 547, 548, 549 and 550 of the Bankruptcy Code (“Avoidance Claims”); and 

(xiii) other than any Excluded Assets, all other assets, properties or rights of every kind and description of Sellers,
wherever located, whether real, personal or mixed, tangible or intangible, including all goodwill of Sellers as a going concern and all other intangible property of Sellers, in each case, relating to, used in or held for use in connection with the
Business, including supporting the performance of the AT&T Contract. 
 In accordance with Section 1.2(b), Buyer may, in its
sole discretion and by written notice to Sellers, designate any of the Transferred Assets as additional Excluded Assets, which notice shall set forth in reasonable detail the Transferred Assets so designated. Buyer acknowledges and agrees that there
shall be no reduction in the Purchase Price if it elects to designate any Transferred Assets as Excluded Assets pursuant to the operation of this paragraph. Notwithstanding any other provision hereof to the contrary, the Liabilities of Sellers under
or related to any Transferred Asset designated as an Excluded Asset pursuant to this paragraph will constitute Excluded Liabilities. 
 (b)
Excluded Assets. Notwithstanding anything to the contrary herein, the following assets and properties of, or in the possession of, Sellers (collectively, the “Excluded Assets”) shall be retained by Sellers and shall be
excluded from the Transferred Assets prior to the Closing notwithstanding any other provision of this Agreement: 
 (i) the
Closing Cash Consideration; 
 (ii) all cash and cash equivalents held by Sellers other than as set forth in
Section 1.1(a)(xi); 
 (iii) any Permits that are not transferable pursuant to their terms and in
accordance with applicable Laws; 
 (iv) all Contracts and Leases that are not Assumed Contracts including, without
limitation, the Contracts and Leases set forth on Section 1.1(b)(iv) of the Disclosure Schedule (the “Excluded Contracts”) (and all deposits thereto), which Section 1.1(b)(iv) of
the Disclosure Schedule may be updated by Buyer pursuant to Section 1.2; 
 (v) any of the
following books and records: corporate seals, organizational documents, minute books, stock books, Tax Returns, books of account or other records having to do with the corporate organization of Sellers, all employee-related or employee
benefit-related files or records (other than personnel files of the Transferred Employees) and any other books and records that Sellers are prohibited from disclosing or transferring to Buyer under applicable Law or are required by applicable Law to
retain; 
 (vi) except as set forth in Section 1.1(a)(x), all insurance policies of Sellers and all
rights to applicable claims and proceeds thereunder, including, without limitation, Directors & Officers insurance; 

(vii) all Tax assets (including any Tax attributes, duty and Tax refunds and prepayments) of Sellers or any Affiliates of
Sellers; 

  
 4 

 (viii) equity securities or other ownership interests of any of the Sellers
(or any of their respective Subsidiaries or Affiliates); 
 (ix) any adequate assurance deposit under Section 366 of the
Bankruptcy Code; 
 (x) all interests of Sellers under the Transaction Documents; 

(xi) all Employee Plans; 

(xii) (A) all records and reports prepared or received by Sellers or any of their Affiliates in connection with the
Transactions contemplated by this Agreement, including all analyses relating to the Transactions contemplated by this Agreement or Buyer so prepared and received, (B) all bids and expressions of interest received from third parties with respect
thereto, with respect to or related to the transactions contemplated thereby and (C) all privileged communications between Sellers and any of their advisors or representatives; 

(xiii) All claims and causes of action, if any, against any current or former equity holder, any Seller or Affiliate of Seller,
or any director, officer, Insider, auditor, insurer, accountant or other retained professional of Sellers; and 
 (xiv) any
other assets, properties and rights set forth on Section 1.1(b)(xiii) of the Disclosure Schedule. 
 (c)
Assumed Liabilities. On the terms and subject to the conditions set forth in this Agreement and subject to the exclusions set forth in Section 1.1(d), as partial consideration for the Transferred Assets, Buyer shall,
effective at the time of the Closing, assume and thereafter pay, discharge and perform in accordance with their terms, Liabilities of Sellers pursuant to the Assumed Contracts to the extent first arising and accruing (and relating to periods) after
the Closing (which shall not include Liabilities of the nature described in clauses (i) through (x) of Section 1.1(d)) (the “Assumed Liabilities”). 

(d) Excluded Liabilities. Notwithstanding any other provision of this Agreement, Buyer shall not assume or be bound by or be obligated
or responsible for any duties, responsibilities, commitments, expenses, obligations or other Liabilities of Sellers or relating to the Business or the Transferred Assets (or which may be asserted against or imposed upon Buyer as a successor or
transferee of Sellers, as an acquirer of the Transferred Assets or as a matter of Law) of any kind or nature, fixed or contingent, known or unknown, other than the Assumed Liabilities (collectively, the “Excluded Liabilities”) and,
without limiting the generality of the foregoing, the Excluded Liabilities shall include the following: 
 (i) any Liability
for (A) any Taxes arising out of the ownership of the Transferred Assets or the operation of the Business attributable to any period prior to the Closing, including withholding, payroll, social security, workers compensation, unemployment,
disability and other similar Taxes with respect to wages or other compensation of an employee or other service provider, (B) any Taxes attributable to any Excluded Asset, (C) any sales, transfer, recording, deed, stamp and other
similar taxes, including, without limitation, any real property transfer or excise taxes (if any), resulting from the consummation of the Transaction contemplated by this Agreement (“Transfer Taxes”) and (D) any other Taxes
owed by Sellers; 
 (ii) any Liability of Sellers under any Contract or otherwise to the extent arising, accruing or relating
to periods prior to the Closing; 

  
 5 

 (iii) any Liability of Sellers relating to and arising from Sellers’
operation of the Business or the Transferred Assets prior to the Closing, including, without limitation, accrued compensation, employee expenses and benefits of Employees; 

(iv) any Liability of Sellers arising out of or resulting from their compliance or noncompliance with any Law or breach or
default under any Contract; 
 (v) any Liability of Sellers arising out of or related to any Legal Proceeding against it and
that was asserted on or prior to, or that relates to any time prior to, the Closing Date; 
 (vi) any Liability of Sellers
arising under or in connection with any Employee Plans of, or maintained or required to be maintained, by Sellers; 
 (vii)
any Liability of Sellers to pay any fees or commission to any broker or finder in connection with the Transactions contemplated by this Agreement; 

(viii) all Liabilities related to any current or former employee of Sellers (other than, for the avoidance of doubt,
Liabilities of Buyer related to the Transferred Employees arising on or after the later of the Closing and the date such Transferred Employee becomes employed by Buyer); 

(ix) any Liability to the extent relating to any Excluded Asset or that is not an Assumed Liability; and 

(x) any Liability not expressly assumed by Buyer in this Agreement. 

(e) Cure Costs. The Assumed Contracts shall be assumed by Sellers and assigned to Buyer in accordance with the requirements of
Section 365 of the Bankruptcy Code, and Seller shall be obligated to pay, from the Purchase Price on the Closing Date pursuant to Section 4.1, all amounts needed to cure any defaults to the extent such defaults are
required to be cured and such cure amounts are required to be paid as a condition to assumption and assignment of any such Assumed Contracts (the “Cure Costs”); provided, that if Buyer determines that Sellers cannot or will
not satisfy any such Cure Costs at or prior to the Closing, then Buyer may terminate this Agreement in accordance with Section 11.2(g). 

(f) Tax Withholding. Except as otherwise provided in the Sale Order, Buyer shall be entitled to deduct and withhold from the Purchase
Price all Taxes that Buyer is reasonably required to deduct and withhold under any provision of Law with respect to Taxes, as determined in good faith; provided that Buyer shall provide reasonable advance notice to Sellers of any such
required deduction and withholding and shall cooperate with Seller to minimize (and, to the extent possible, eliminate) any such required deduction and withholding. All such withheld amounts that are properly remitted to the appropriate Governmental
Entity shall be treated as delivered to Sellers hereunder. 
 1.2 Assumption/Rejection of Certain Contracts. 

(a) Assumption and Assignment of Executory Contracts. Section 1.2(a) of the Disclosure Schedule sets forth a
list of all executory Contracts (including all Leases with respect to Leased Real Property) to which, to the Knowledge of Sellers, one or more Sellers are party or to which any of their assets are bound and which relate to, are used in or are held
for use in connection with the Business. From time to time as requested by Buyer, and no later than three days prior to the Closing, Sellers shall update Section 1.2(a) of the Disclosure Schedule. Sellers shall provide
timely and proper written notice of the motion seeking entry of the Sale Order to all parties to any executory Contracts or unexpired leases that are 

  
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Assumed Contracts and take all other actions necessary or otherwise required to cause such Contracts to be assumed by and assigned to Buyer or any other Person designated by Buyer pursuant to
Section 365 of the Bankruptcy Code to the extent that such Contracts are Assumed Contracts as of the Closing (including (x) serving on all non-Seller counterparties to all of their Contracts a notice
specifically stating that Sellers are or may be seeking the assumption and assignment of such Contract(s) and of the deadline for objecting to the Cure Costs or any other aspect of the proposed assumption and assignment of their Contracts to Buyer
and (y) taking, as promptly as practicable, all other actions reasonably requested by Buyer to facilitate any negotiations with the counterparties to such Assumed Contracts and to obtain an order, including a finding that the proposed
assumption and assignment of the Assumed Contracts to Buyer satisfies all applicable requirements of Section 365 of the Bankruptcy Code). The Sale Order shall provide that as of and conditioned on the occurrence of the Closing, Sellers shall
assign or cause to be assigned to Buyer or a Person designated by Buyer, as applicable, the Assumed Contracts, each of which shall be identified by the name or appropriate description and date of the Assumed Contract (if available), the other party
to the Assumed Contract and the address of such party for notice purposes, a notice filed in connection with the motion for approval of the Sale Order or a separate motion for authority to assume and assign such Assumed Contracts. Such exhibit shall
also set forth Sellers’ good faith estimate of the amounts necessary to cure any defaults under each of the Assumed Contracts as determined by Sellers based on Sellers’ books and records or as otherwise determined by the Bankruptcy Court.
At the Closing and subject to the last paragraph of Section 1.1(a) and Section 1.2(b), Sellers shall, pursuant to the Sale Order (and, if applicable, the Bill of Sale(s)), assume and assign to
Buyer or a Person designated by Buyer (the consideration for which is included in the Consideration), all Assumed Contracts that may be assigned by any such Seller to Buyer or a Person designated by Buyer pursuant to Sections 363 and 365 of the
Bankruptcy Code. Not less than two and not more than five Business Days prior to the Closing, Sellers shall deliver to Buyer a certificate containing documentary evidence from each payee to which Cure Costs are payable wire instructions with respect
to the payment of such applicable Cure Costs ordered by the Bankruptcy Court, together with a detailed listing of all Customer Deferred Revenue as of immediately prior to the Closing, in each case, certified by the Chief Executive Officer of Enjoy
(collectively, the “Cure Cost and Deferred Revenue Certificate”). At the Closing, (i) Sellers shall pay all Cure Costs from the Closing Cash Consideration pursuant to Section 4.1 and (ii) Buyer
shall, assume or cause to be assumed, and thereafter in due course and in accordance with its respective terms pay, fully satisfy, discharge and perform (or cause to be fully satisfied, discharged and performed) all of the obligations (other than
any Excluded Liabilities) that are Assumed Liabilities under each Assumed Contract pursuant to Section 365 of the Bankruptcy Code and the Bill of Sale(s), as applicable. 

(b) Excluding or Adding Assumed Contracts Prior to Closing. Without prejudice to Section 8.12, Buyer shall
have the right to notify Sellers in writing of any Assumed Contract that it does not wish to assume or a Contract to which any Seller is a party that Buyer wishes to add as an Assumed Contract up to three days prior to the Closing and (i) any
such previously considered Assumed Contract that Buyer no longer wishes to assume shall be automatically deemed removed from the Disclosure Schedules related to Assumed Contracts and automatically deemed added to the Disclosure Schedules related to
Excluded Contracts, in each case, without any adjustment to the Consideration, and (ii) any such previously considered Excluded Contract that Buyer wishes to assume as an Assumed Contract shall be automatically deemed added to the Disclosure
Schedules related to Assumed Contracts, automatically deemed removed from the Disclosure Schedules related to Excluded Contracts, and assumed by Sellers to sell and assign to Buyer, in each case, without any adjustment to the Consideration. Buyer
may request, in its sole discretion, certain modifications and amendments to any Contract as a condition to such Contract becoming an Assumed Contract, and Sellers shall use their reasonable best efforts to obtain such modifications or amendments;
provided, however, that, for so long as Sellers use their reasonable best efforts to obtain such modifications or amendments, the failure to obtain any such modifications or amendments shall, in and of itself, not be a condition to
Buyer’s obligation to consummate the Transactions contemplated by this Agreement on the Closing Date except as otherwise set forth in Article IX. All reasonable and documented costs and expenses payable prior to Closing in connection
with transferring any Assumed Contracts as contemplated by this Agreement (including the Cure Costs) shall be borne by Sellers. 

  
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 (c) Non-Assignment. Buyer acknowledges that
the Sale Order will authorize the assumption and assignment of the Assumed Contracts without the requirement of any consent by the parties thereto. To the extent any Assumed Contract is not assumable and assignable by Sellers to Buyer under
Section 365 of the Bankruptcy Code without the consent of the applicable counterparty thereto, Sellers shall use their reasonable best efforts prior to Closing to obtain all such required consents of third parties that are necessary for the
consummation of the Transactions contemplated hereby (the “Required Consents”). All such Required Consents shall be in writing, in form and substance reasonably acceptable to Buyer, and executed counterparts thereof shall be
delivered to Buyer on or before five days prior to the Closing Date. If a Required Consent is not obtained, or if an attempted assignment thereof would be ineffective or would affect the rights thereunder so that Buyer would not receive all such
rights, and Buyer elects to waive such Required Consent as a condition to Closing or otherwise proceeds with the Closing, Sellers shall continue to use their reasonable best efforts to obtain such Required Consents promptly following the Closing
and, until obtained, use their reasonable best efforts after Closing to provide to Buyer the benefits under any such Assumed Contract or any claim or right, including, without limitation, enforcement for the benefit of Buyer of any and all rights of
Sellers against a third party thereto arising out of the default or cancellation by such third party or otherwise. 
 ARTICLE II 

BANKRUPTCY COURT APPROVAL AND OTHER MATTERS 

2.1 Stalking Horse Bidder and Sale Process. Sellers have selected Buyer to serve, and Buyer has consented to its selection and service,
collectively, as a “Stalking Horse Bidder,” whereby this Agreement shall serve as a base by which other offers for a potential Qualified Bid may be measured and is subject to competing offers for a Qualified Bid by way of the overbid
process provided in the Bidding Procedures and as set forth below in Section 2.2. From the date hereof (and any prior time) and until the transactions contemplated hereby are consummated, Sellers are permitted to and to
cause its representatives and Affiliates to initiate contact with, solicit or encourage submission of any inquiries, proposals or offers by any Person (in addition to Buyer and its Affiliates and representatives) in connection with submitting any
Qualified Bid in accordance with the Bidding Procedures Order. In addition, Sellers shall have the authority to respond to any inquiries or offers with respect to a Qualified Bid and perform any and all other acts related thereto to the extent any
such act is not in violation of the Bidding Procedures Order or the Bankruptcy Code. This Agreement is subject to approval by the Bankruptcy Court and the consideration by Seller of higher or better competing bids in respect of the Transferred
Assets, as determined in Seller’s sole and exclusive discretion in accordance with the Bidding Procedures Order. 
 2.2 Bankruptcy
Court Matters. 
 (a) Sale Motion. On July 3, 2022, Sellers filed the Sale Motion. Sellers shall not alter, modify, or
withdraw the Sale Motion without the prior consent of Buyer in its sole and absolute discretion. 
 (b) This Agreement. On or before
July 25, 2022, Sellers shall file this Agreement with the Bankruptcy Court and provide all required notice of this Agreement. 
 (c)
Bankruptcy Procedures Hearing and Bidding Procedures Order. On or before July 26, 2022, the Bankruptcy Court shall have (i) held a hearing to consider approval of the Bidding Procedures, and (ii) entered the Bidding Procedures
Order. 

  
 8 

 (d) Final DIP Financing Order. On or before July 26, 2022, the Bankruptcy Court
shall have entered the Final DIP Financing Order. 
 (e) Assumption and Assignment Notice and Cure Schedule. Within three Business
Days after entry of the Bidding Procedures Order, Sellers shall file and serve the Assumption and Assignment Notice and Cure Schedule (as defined in the Bidding Procedures). Any objections to the proposed assumption and assignment of the Assumed
Contracts and related cure costs must be filed within 14 days of the filing of the Assumption and Assignment Notice and Cure Schedule. 

(f) Bid Deadline. On or before August 8, 2022, at 10:00 a.m. ET, all Qualified Bids must be submitted in accordance with the
Bidding Procedures (the “Bid Deadline”). 
 (g) Auction. On or before August 9, 2022, Sellers shall hold the
Auction (as defined in the Bidding Procedures) if, inclusive of this Agreement, two or more Qualified Bids are received prior to the Bid Deadline. 

(h) Sale Hearing. On or before August 12, 2022, at 10:00 a.m. ET, the Bankruptcy Court shall hold the Sale Hearing. 

(i) Sale Order. On or before August 14, 2022, the Bankruptcy Court shall have entered the Sale Order. 

2.3 Entry of Order Approving Sale. 

(a) If this Agreement and the sale of the Transferred Assets to Buyer on the terms and conditions hereof are determined to be the
“highest or otherwise best offer” in accordance with the Bidding Procedures Order, the Sale Order shall be in accordance with the terms of this Agreement, shall be in a form satisfactory to Buyer in its sole and absolute discretion, and
shall, among other things: 
 (i) approve this Agreement (as may be amended following an Auction, if one is held and Buyer
presents the Successful Bid) and the execution, delivery, and performance by Sellers of this Agreement and the other instruments and agreements contemplated hereby; 

(ii) approve and direct the sale and transfer of the Transferred Assets to Buyer and approve and direct the assumption and
assignment of the Assumed Contracts to Buyer free and clear of all Liens, Claims or interests, based on appropriate findings and rulings pursuant to, inter alia, Sections 363(b), 363(f), 363(m) and 365 of the Bankruptcy Code, including but
not limited to Sections 365(h), 365(i), 365(l) and 365(n) of the Bankruptcy Code and the release of Buyer of any rights otherwise associated with, and which may otherwise be to the benefit of, any third parties; 

(iii) include a finding that Buyer is a good faith purchaser pursuant to Section 363(m) of the Bankruptcy Code; 

(iv) include a finding that Buyer is not deemed to be a successor to Sellers, to have, de facto or otherwise, merged with or
into Sellers or to be a mere continuation of Sellers; 
 (v) include a finding that the Consideration is a fair and
reasonable price for the Transferred Assets; 
 (vi) include a finding that Buyer will not have any derivative, successor,
transferee or vicarious Liability for Liabilities of any Seller or any Affiliates of any Seller by reason 

  
 9 

 
of any theory of Law or equity (whether under federal or state Law or otherwise) as a result of the transactions contemplated by this Agreement, including but not limited to any Liabilities on
account of Transfer Taxes or any other Tax arising, accruing, or payable under, out of, in connection with, or in any way relating to the Business prior to the Closing or relating to employees of any Seller or any Affiliates of any Seller, executory
contracts, or collective bargaining agreements except as expressly assumed by Buyer in this Agreement; 
 (vii) include a
finding that, to the maximum extent permitted by the Bankruptcy Code, the so-called “bulk sales,” “bulk transfer” or similar Laws in any applicable jurisdictions do not apply; 

(viii) include a finding confirming the adequacy of notice to all creditors and parties in interest and parties to any
executory contract, unexpired Lease or right of entry; and 
 (ix) include provisions for the retention of jurisdiction in
the Bankruptcy Court over matters relating to the transactions contemplated in this Agreement including matters relating to title to the Transferred Assets and claims against the Transferred Assets which arose or were based on facts or occurrences
prior to the Closing. Furthermore, the Sale Order shall not have been reversed, stayed, modified or amended. 
 (b) Sellers shall provide
notice of the Sale Hearing and any other matter before the Bankruptcy Court relating to this Agreement or the Transaction Documents, in each case as required by the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, any applicable local
rules of bankruptcy procedure or as otherwise ordered by the Bankruptcy Court. 
 (c) Notwithstanding anything to the contrary in this
Section 2.3 or any other provision of this Agreement, in the event that a Qualified Bid of a third party (an “Alternative Purchaser,” and the underlying agreement between the Alternative Purchaser and
Sellers, the “Alternative APA”) is approved by the Bankruptcy Court at the hearing on the Sale Motion, Buyer shall have no obligation, under any circumstances, to serve as the Next-Highest Bidder (as defined in the Bidding
Procedures) unless otherwise agreed to by Buyer in its sole and absolute discretion. 
 2.4 Certain Bankruptcy Undertakings by
Sellers. 
 (a) Except as ordered by the Bankruptcy Court, Sellers shall not take any action, nor fail to take any action, which action
or failure to act would reasonably be expected to (i) prevent or impede the consummation of the transactions contemplated by this Agreement in accordance with the terms of this Agreement; or (ii) result in (A) the reversal, avoidance,
revocation, vacating or modification (in any manner that would reasonably be expected to materially and adversely affect Buyer’s rights hereunder), or (B) the entry of a stay pending appeal. 

(b) If the Bidding Procedures Order, the Sale Order or any other order of the Bankruptcy Court relating to this Agreement shall be appealed by
any Person (or a petition for certiorari or motion for rehearing or reargument shall be filed with respect thereto), Sellers shall take all steps as may be reasonable and appropriate to defend against such appeal, petition or motion, and shall
endeavor to obtain an expedited resolution of such appeal. 
 2.5 Break-Up Fee and Expense
Reimbursement. In the event of a sale, transfer, change of control, liquidation or other disposition, directly or indirectly (including through an asset sale, stock sale, merger or other transaction) of any of the Transferred Assets in a single
transaction or a series of transactions to one or more Persons (other than Buyer or an Affiliate of Buyer) (a “Third-Party Sale”), 

  
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whether at an Auction, pursuant to a plan of reorganization or otherwise, is consummated, then Buyer will be entitled to receive a break-up fee out of the
proceeds of such Third-Party Sale in an amount equal to 3.0% of the Purchase Price (the “Break-Up Fee”), plus Buyer’s reasonable out-of-pocket expenses, including the fees and expenses of Buyer’s attorneys and other professionals and advisors incurred in connection with the negotiation, execution and consummation of this Agreement
in an amount not to exceed $500,000.00 of the Purchase Price (the “Expense Reimbursement”). Payment of the Break-Up Fee and Expense Reimbursement shall be made by wire transfer of immediately
available U.S. funds to an account designated by Buyer from the proceeds of a sale to an Alternative Purchaser, with such payment to be made immediately upon the consummation of such sale. Until paid, and to the extent approved by the
Bankruptcy Court, the Break-Up Fee and Expense Reimbursement shall be an administrative expense claim in the Voluntary Bankruptcy Cases under Section 503(b)(1) and Section 507(a)(2) of the Bankruptcy
Code. 
 ARTICLE III 

INSTRUMENTS OF TRANSFER AND ASSUMPTION 

3.1 Transfer Documents. At the Closing, Sellers will deliver to Buyer (a) one or more bills of sale, assignment and assumption
agreements as may be required by Buyer in substantially the form attached hereto as Exhibit A (the “Bill of Sale”), (b) one or more trademark assignment agreements as may be required by Buyer in substantially the form
attached hereto as Exhibit B (the “Trademark Assignment Agreement”), and (c) all such other good and sufficient instruments of sale, transfer and conveyance consistent with the terms and provisions of this Agreement as
shall be reasonably necessary to vest in Buyer (or its designee(s)) all of Sellers’ right, title and interest in, to and under the Transferred Assets. 

ARTICLE IV 

CONSIDERATION; ALLOCATION 

4.1 Consideration. At the Closing, and subject to the terms and conditions of this Agreement and the entry and effectiveness of the
Sale Order, in exchange for the sale, assignment, transfer, conveyance and delivery by Sellers of the Transferred Assets, Buyer shall provide the consideration (the “Consideration”) consisting of cash in the amount of
$110,000,000.00 (the “Purchase Price”), and such amount, less the sum of (a) the Customer Holdback Amount (which shall be retained by Buyer and administered pursuant to Section 4.3), (b) the
aggregate amount of any unpaid and outstanding DIP Facility (as defined in the Final DIP Financing Order) (whether or not then due and owing), including the principal and interest balance thereof (which amount will be offset against the aggregate
amount of any unpaid and outstanding DIP Facility (as defined in the Final DIP Financing Order) in satisfaction thereof), (c) any fees, costs or expenses provided for under the Final DIP Financing Order (including those due upon Closing), including
any fees, costs and expenses owed to counsel or advisors to Buyer under the Final DIP Financing Order to the extent not previously paid by Sellers prior to the Closing (which amounts shall be paid to such account or accounts as such payees shall
specify to Buyer), (d) any portion of the HSR Filing Fee that remains unsatisfied by Sellers pursuant to Section 8.2(c), if any, as of immediately prior to the Closing, and (e) the amount of the Cure Costs specified in
the Sale Order to the extent not previously paid by Sellers prior to the Closing (which amount shall be paid to the recipients of Cure Costs specified in the Sale Order to satisfy all Cure Costs, in each case, pursuant to the payment instructions
contained in the Cure Cost and Deferred Revenue Certificate or, as applicable, the Sale Order) (such net amount, the “Closing Cash Consideration”). The Closing Cash Consideration shall be payable at Closing by wire transfer to an
account designated by Sellers. 
 4.2 Allocation. Within a reasonable time following the Closing, Buyer shall deliver to Sellers a
statement allocating the Consideration among the Transferred Assets in accordance with Section 1060 of the Code (the “Allocation Statement”). Sellers and Buyer agree to file their respective IRS Forms 8594 and all federal,
state and local Tax Returns in accordance with the Allocation Statement. 

  
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 4.3 Customer Holdback. At the Closing, Buyer shall retain from the Purchase Price,
and hold and administer pursuant to this Section 4.3, the Customer Holdback Amount. Within 45 days following the last day of the Customer Holdback Measurement Period, Buyer shall, after consultation with the Material
Customer, prepare and deliver to Enjoy a written statement (the “Customer Holdback Statement”) prepared in good faith specifying (a) the portion of the Customer Deferred Revenue equal to the gross revenue actually earned
pursuant to the AT&T Contract following the Closing Date (the “Customer Post-Closing Revenue”), (b) the sum of all Customer Chargebacks that reduced revenues during the Customer Holdback Measurement Period and which related to
periods prior to the Closing (the “Customer Post-Closing Chargebacks”), (c) the amount of any residual payment owing to the Material Customer following the Closing relating to any overpayment by the Material Customer of any
prepayment made to Sellers prior to the Closing and not otherwise included in the calculation of the Customer Post-Closing Chargebacks (the “Customer Post-Closing Residual”) and (d) all Customer Inventory Losses. If the
Customer Holdback Amount is greater than the sum of the Customer Post-Closing Revenue, the Customer Post-Closing Chargebacks, the Customer Post-Closing Residual and the Customer Inventory Losses, the amount of such excess (such amount, the
“Customer Net Seller Earned Revenue”) shall be earned by Sellers pursuant to this Section 4.3. If any Customer Net Seller Earned Revenue is earned by Sellers pursuant to this
Section 4.3 as specified in the Customer Holdback Statement, within 10 days following the delivery of the Customer Holdback Statement, Sellers shall provide Buyer wire instructions with respect to the payment of such
Customer Net Seller Earned Revenue and, promptly thereafter, Buyer shall deliver to Sellers, or to a designated successor or assignee of Sellers, from the Customer Holdback Amount, the amount of such Customer Net Seller Earned Revenue specified
therein, if any, pursuant to such payment instructions delivered by Sellers and shall have no further obligation with respect to any remaining portion of the Customer Holdback Amount (which remaining amount, for the avoidance of doubt, shall be
retained by Buyer and shall not be payable, at any time in the future, to Enjoy or any Seller).    In the event following the Closing, Buyer receives information from Material Customer with respect to the amounts to be set forth
in the Customer Holdback Statement indicating the actual amounts of all or a portion of such calculations, Buyer shall release such funds from the Holdback Amount to the Sellers as Buyer determines, in its sole discretion, would otherwise be
released to Sellers pursuant to the preceding sentence. 
 4.4 No Good Faith Deposit. Notwithstanding anything herein or in the
Bidding Procedures to the contrary, Buyer shall not be obligated to make any Good Faith Deposit (as defined in the Bidding Procedures) or other advance payment. 

ARTICLE V 
 CLOSING

 5.1 Closing Date. Subject to the terms and conditions hereof, the closing of the transactions contemplated by this Agreement
(the “Closing”) shall take place virtually (by delivery of executed documents via pdf, DocuSign or other electronic means), no later than the second Business Day following the date on which all conditions to Closing set forth in
Article IX and Article X have been satisfied or waived (the date on which the Closing is actually held, the “Closing Date”). If it occurs, the Closing shall be effective as of 12:01 a.m. Eastern time on the Closing
Date. 
 ARTICLE VI 

REPRESENTATIONS AND WARRANTIES OF SELLERS 

Except as set forth in the disclosure schedule delivered by Sellers to Buyer prior to the execution and delivery of this Agreement (the
“Disclosure Schedule”) (provided, however, disclosure of any item in any section or subsection of the Disclosure Schedule shall only be deemed disclosure with respect to such section indicated therein and any other
section or subsection of this Agreement to which the relevance of such item is reasonably apparent on the face of such disclosure), Sellers represent and warrant to Buyer as follows: 

  
 12 

 6.1 Organization, Qualification and Authority. Sellers are entities duly organized,
validly existing and in good standing under the Laws of their jurisdiction of formation and under the Laws of each jurisdiction where qualification as a foreign entity is required, except where the lack of such qualification would not, individually
or in the aggregate, reasonably be expected to be material. Sellers have delivered to Buyer true, complete and correct copies of the respective formation and governing documents of each Seller. Sellers have all necessary power and authority to own
and operate their properties and to carry on their business as it is now being conducted. Sellers have the power and authority to execute and deliver and perform their obligations under this Agreement and the other Transaction Documents, and to
undertake the transactions contemplated hereby and thereby. 
 6.2 Authorization, Execution and Delivery of Agreement and Transaction
Documents. The execution, delivery and performance of this Agreement and the other Transaction Documents by Sellers and the transfer or assignment of the Transferred Assets to Buyer have been duly and validly authorized and approved by all
necessary corporate or other entity action. This Agreement and each of the Transaction Documents constitute Sellers’ legal, valid and binding obligations, enforceable against each Seller (to the extent it is a party thereto) in accordance with
their respective terms, subject to Laws of general application relating to the rights of creditors generally and the availability of equitable remedies. Subject to order of the Bankruptcy Court and pursuant thereto, Sellers will have full power,
right and authority to sell and convey to Buyer the Transferred Assets, subject to any necessary authorization from the Bankruptcy Court. 

6.3 Title to and Condition of Assets. 

(a) Sellers have good and marketable title to, or a valid leasehold interest in, all of the properties and assets included in the Transferred
Assets. Sellers have the power and right to use, transfer, sell, convey, assign and deliver, and shall at Closing transfer, sell convey, assign and deliver to Buyer, each of the Transferred Assets owned by them, free and clear of all Liens. The
delivery to Buyer at the Closing of the Transaction Documents will vest in Buyer good and marketable title to the Transferred Assets, free and clear of all Liens. The delivery to Buyer at the Closing of the Transaction Documents will vest in Buyer a
valid, binding and enforceable leasehold interest in, or other valid, binding and enforceable right to possess and use, the Transferred Assets that are not owned by Sellers, in accordance with the Contracts applicable to such Transferred Assets,
true, complete and correct copies of which Contracts have been provided to Buyer. The Transferred Assets include, without limitation, all tangible and intangible assets necessary for the conduct of the Business as it is currently conducted and such
assets are sufficient for the continued conduct of the Business after the Closing in the Ordinary Course of Business. Other than Sellers, no Subsidiary or Affiliate of any Seller owns any assets used in or held for use in connection with the
Business, and all tangible personal property and other tangible assets used in or held for use in connection with the Business (including inventory and other assets held on consignment pursuant to the AT&T Contract) are physically located at the
Leased Real Properties. All tangible assets used in or held for use in connection with the Business are, and at Closing will be, located at the Leased Real Properties. Section 6.3(a)(i) of the Disclosure Schedule correctly
sets forth all of the tangible assets owned by Sellers (other than (i) office furniture and (ii) office supplies, meaning consumable products or supplies used on a recurring basis in general business and office operations, including, but
not limited to, fax and copy paper, writing tools, erasers, toner, fasteners (paper clips, rubber bands, binding clips, etc.), calculators, staplers, adhesives (tape, glue, etc.), scissors, rulers, tape dispensers, pencil sharpeners, notepads and
sticky notes, nonprinted envelopes, calendars and planners, rubber stamps, disposable batteries, clocks, portable shredders, desk accessories and organizational aids, document filing and organizers (binders, clipboards, dividers, file folders, file
labels, storage boxes, etc.), bulletin boards, marker and chalk boards, cleaning equipment and supplies, first aid supplies, and disposable food service products (and expressly excluding, 

  
 13 

 
for the avoidance of doubt, tablets, smartphones, computer peripherals (monitors, individual external hard drives, keyboards, etc.), electronic hardware and other electronic tangible personal
property)). Section 6.3(a)(ii) of the Disclosure Schedule correctly sets forth a true, complete and correct list of all of the tangible assets leased by Sellers, and all Leases and other Contracts pertaining to such
Transferred Assets are identified on such section of the Disclosure Schedule opposite the respective asset. 
 (b) The Transferred Assets
have been properly maintained in accordance with commercial and/or regulatory standards, as applicable, and are in good and working order and repair, free from material defects in construction or design, soundly and properly functioning, usable for
their intended purposes in the Ordinary Course of Business and not obsolete. All of the tangible Transferred Assets that are leased by Sellers or are held on consignment by Sellers are in the condition required of such property by the terms of the
Contracts applicable thereto. 
 (c) Sellers own and have in their possession the equipment and supplies in sufficient quantities in order
to enable Sellers to operate the Business in the Ordinary Course of Business and pursuant to each Contract to which any Seller is a party, and all such equipment and supplies are included in the Transferred Assets. 

6.4 Legal Proceedings. There is no Legal Proceeding pending or, to the Knowledge of Sellers, threatened in writing against or affecting
Sellers or the Transferred Assets (or to the Knowledge of Sellers, pending or threatened, against any of the officers, directors or employees of Sellers with respect to their business activities related to or affecting the Transferred
Assets) (a) that challenges or that is reasonably expected to have the effect of preventing, making illegal, delaying or otherwise interfering with any of the transactions contemplated by this Agreement; or (b) that is related to the
Transferred Assets, Assumed Liabilities or the Business. 
 6.5 Real Property. 

(a) Sellers do not own any real property. 

(b) Section 6.5(b) of the Disclosure Schedule sets forth a true, complete and correct list (with addresses) of each
leased or subleased premises used by Sellers, whether or not pursuant to a written or oral Lease or sublease (the “Leased Real Properties”) and such Section 6.5(b) of the Disclosure Schedule indicates, for
each Leased Real Property, (i) whether such Leased Real Property is used in or necessary for the conduct of the Business and (ii) the date on which the current term of such lease expires. Sellers have made available to Buyer executed
originals or true, complete and correct copies of all Leases or subleases with respect to all Leased Real Properties, together with all amendments, extensions or modifications thereto. 

(c) For each of the Leased Real Properties, (i) Sellers hold a valid leasehold interest, free and clear of all Liens, (ii) Sellers
have the right to use (and have quiet enjoyment of) such Leased Real Properties for the purposes for which it is being used, (iii) Sellers have not received any written notice of a dispute concerning the occupancy or use thereof, (iv) each
Lease or sublease therefor is legal, valid and binding, in full force and effect, and enforceable against Sellers and, to the Knowledge of Sellers, the other parties thereto, in accordance with its terms, subject to Laws of general application
relating to the rights of creditors generally and the availability of equitable remedies, and (v) neither Sellers nor, to the Knowledge of Sellers, any other party to such lease or sublease is in default thereunder (with or without notice or
lapse of time, or both), nor has any default been, to the Knowledge of Sellers, threatened. Sellers enjoy exclusive, peaceful and undisturbed possession of all Leased Real Properties in all material respects, in each case subject to the terms and
conditions of the applicable Lease. 

  
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 6.6 No Violation of Laws or Agreements. Subject to order of the Bankruptcy Court, the
execution and delivery by Sellers of this Agreement and the Transaction Documents contemplated hereby, the performance by Sellers of their obligations hereunder and thereunder and the consummation by Sellers of the transactions contemplated herein
and therein will not (a) violate any Laws or any judgment, decree, order, regulation or rule of any court or Governmental Entity to which Sellers are subject; (b) result in any breach of, or constitute a default (or event which with the
giving of notice or lapse of time, or both, would become a default) under, or give to any Person any rights of termination, amendment, acceleration or cancellation of, or result in the creation of any Lien on any of the Transferred Assets, any
Contract, Lease, license, Permit, franchise or other instrument to which a Seller is a party and which relates to any of the Transferred Assets; and (c) contravene, conflict with or result in a violation of any provision of any organizational
documents of Sellers. Subject to entry of the Bidding Procedures Order and Sale Order, except (x) as required to comply with the HSR Act, (y) for notices, filings and consents required in connection with the Voluntary Bankruptcy Cases, and
(z) for the notices, filings and consents set forth on Section 6.6 of the Disclosure Schedule, Sellers are not required to give any notice to, make any registration, declaration or filing with or obtain any consent,
waiver or approval from, any Person (including any Governmental Entity) in connection with the execution and delivery of this Agreement and each of the Transaction Documents or the consummation or performance of any of the transactions contemplated
hereby and thereby. 
 6.7 Employee Benefits; ERISA Matters; Employees and Independent Contractors. 

(a) Sellers have made available to Buyer a summary of the material Employee Plans covering current Employees or consultants in, or related to,
the Business. Sellers have not incurred any Liability with respect to any Employee Plan, which may create, or result in any Liability to Buyer. 

(b) Section 6.7(b) of the Disclosure Schedule sets forth a true, complete and correct list of all of Sellers’
employees and all independent contractor service providers of Sellers other than the Excluded Employees, indicating for each such individual, whether such Person is an employee or independent contractor, their title, hire or engagement date, whether
such individual provides services in connection with the Business (and, if so, whether such individual provides services that are necessary for the conduct of the Business and whether such individual’s services are primarily in furtherance of
the Business), and Sellers have provided to Buyer in the Data Room true and complete information regarding compensation and benefits to which each such employee of Seller or each such independent contractor service provider of Sellers receives or is
otherwise entitled. Not less than two and not more than five Business Days prior to the Closing Date, Seller shall update Section 6.7(b) of the Disclosure Schedule, and such updated Section 6.7(b)
of the Disclosure Schedule shall set forth a true, complete and correct list of all of Sellers’ employees and independent contractors other than the Excluded Employees, indicating for each such individual their name and the other information
described above. 
 6.8 Financial Statements. 

(a) Each of the consolidated financial statements of Sellers (including all related notes or schedules) included in the Seller SEC Reports
complied at the time it was filed as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto in effect at the time of filing or furnishing the applicable
report, was prepared in accordance with United States generally accepted accounting principles (“GAAP”) (except, in the case of unaudited financial statements, as permitted by Form 10-Q of the
SEC) applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto) and fairly presented in all material respects the consolidated financial position of Sellers and any Subsidiaries of Sellers as of the
dates thereof and the consolidated results of their operations, changes in shareholders’ equity (deficit) and cash flows as of the dates thereof and for the periods shown (subject, in the case of unaudited financial statements, to normal year-end audit adjustments). 

  
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 (b) Except as publicly disclosed in the Seller SEC Reports filed prior to the date of this
Agreement, the Sellers maintain a system of “internal control over financial reporting” (as defined in Rules 13(a)-15(f) and 15(d)-15(f) under the Exchange
Act) reasonably designed to provide reasonable assurance (i) that transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP consistently applied, (ii) that transactions are executed only
in accordance with the authorization of management, and (iii) regarding prevention or timely detection of the unauthorized acquisition, use or disposition of Sellers’ properties or assets. 

(c) Except as publicly disclosed in the Seller SEC Reports filed prior to the date of this Agreement, the “disclosure controls and
procedures” (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) utilized by Sellers are reasonably designed to ensure that all information (both
financial and non-financial) required to be disclosed by Sellers in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified
in the rules and forms of the SEC and that all such information required to be disclosed is accumulated and communicated to the management of each Seller, as appropriate, to allow timely decisions regarding required disclosure and to enable the
chief executive officer and chief financial officer of each Seller to make the certifications required under the Exchange Act with respect to such reports. 

(d) Section 6.8(d) of the Disclosure Schedule lists all indebtedness for borrowed money of, or guaranteed by, any
Seller or which is secured by any assets of Sellers. 
 (e) The accounts receivable set forth in the consolidated balance sheet contained in
the most recent Seller SEC Reports all represent obligations arising from services actually performed by Sellers or goods sold by Sellers in the Ordinary Course of Business. To the Knowledge of Sellers and except as reflected in Sellers’
reserve for uncollectable accounts, there is no account debtor who has refused or threatened to refuse to pay its obligations or who has or threatened to set-off such obligations for any reason, and there is
no contest, claim, defense or right of set-off relating to the amount or validity of any accounts receivable (other than prepayment true-ups pursuant to the AT&T
Contract). 
 (f) No Seller has any outstanding Liability with respect to any loss, damage, destruction, theft or similar matters with
respect to any inventory or assets of any other Person held by Sellers on consignment, including pursuant to the AT&T Contract and, at Closing, all inventory held by Sellers on consignment will be in the possession of Buyer at the Leased Real
Properties assigned to Buyer pursuant to the Assumed Contracts. Section 6.8(f) of the Disclosure Schedule sets forth all Liabilities as of the date hereof, including the dollar amount thereof, of any Seller to a
counterparty of any Assumed Contract that would constitute a Cure Cost if Closing occurred simultaneously with the execution of this Agreement. 

6.9 Absence of Certain Changes. Since December 31, 2021, Sellers have conducted the Business in the Ordinary Course of Business,
and except as disclosed on Section 6.9 of the Disclosure Schedule (which shall be arranged in accordance with the subsections below) or as contemplated by this Agreement, Sellers have not: 

(a) in a single transaction or a series of related transactions, acquired or agreed to acquire by merging or consolidating with, or by
purchasing any equity interest in or substantially all the assets of, or by any other manner, any Person; 

  
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 (b) in a single transaction or series of related transactions, sold (including
sale-leaseback), leased, licensed, pledged, encumbered or otherwise transferred or disposed of, or agreed to sell (or engage in a sale-leaseback), lease (whether such Lease is an operating or capital Lease), license, pledge, encumber or otherwise
transferred or disposed of, the Business or any of their assets, including Transferred Assets, or any material rights thereto, other than dispositions in the Ordinary Course of Business; 

(c) modified, amended or terminated (excluding any automatic termination upon the expiration of the term thereof) or granted a waiver of any
material right under any Company Contract to which any Seller or any Affiliate of any Seller is or was a party other than modifications and amendments in the Ordinary Course of Business to the extent such modification or amendment is disclosed on
Section 6.10(a) of the Disclosure Schedule; 
 (d) made any change in methods of accounting or procedures in
effect as of December 31, 2021 (including procedures with respect to revenue recognition, payments of accounts payable and collection of accounts receivable) or, other than in the Ordinary Course of Business or with respect to advances of
receivables pursuant to the terms of the AT&T Contract, delayed or accelerated the collection of any accounts receivable, notes receivable, negotiable instruments, chattel paper and other receivables or other revenue or engaged in any other
activity that has or would reasonably be expected to have the effect of accelerating to pre-Closing periods revenue that would otherwise be expected to occur in post-Closing periods or delayed or postponed the
payment of any accounts payable or commissions or any other Liability or obligation or agreed or negotiated with any party to extend the payment date of any accounts payable or commissions or any other Liability or obligation; 

(e) filed or failed to file any material Tax Returns relating to the Business which are legally required to be filed (taking into account any
relevant extension periods) nor failed to pay, to the extent required, any material Taxes owed, the non-payment of which has resulted or could result in a Lien on any Transferred Asset that survives the
Closing or could result in Buyer becoming liable or responsible therefor; 
 (f) sold, transferred, licensed, abandoned, let lapse,
encumbered or otherwise disposed of any material Sellers Intellectual Property relating to the Business; 
 (g) other than pursuant to the
DIP Facility and the Johnson Note, incurred, created, assumed or otherwise became liable for, any indebtedness for borrowed funds other than pursuant to intercompany borrowings; 

(h) except for any filings with the Bankruptcy Court or to approve the filing of the Voluntary Bankruptcy Cases, adopted a plan or agreement
of complete or partial liquidation, dissolution, merger, consolidation, restructuring, recapitalization or other material reorganization or any other transaction; 

(i) amended or proposed to amend or otherwise change their organizational or governance documents; 

(j) entered into any agreement or commitment that subjected the Transferred Assets or the Business to any
non-competition or other material restrictions; 
 (k) materially changed the manner in which it has
served its customers from the manner it served its customers during the year ended December 31, 2021 and the six months ended June 30, 2022; 

  
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 (l) materially reduced its pricing structure to its commercial partners or other revenue
sources for Business services; 
 (m) suffered any material damage, destruction or loss to any tangible personal property as a result of any
casualty or similar material event (whether or not covered by insurance), or any damage, destruction or loss to any tangible personal property of any other Person held by Sellers on consignment; 

(n) taken any write-down of the value of any Transferred Assets on the books or records of Sellers, except for depreciation and amortization
taken in the Ordinary Course of Business; 
 (o) declared, set aside or paid any dividend or other distribution or purchased, redeemed, or
otherwise acquired, or offered to purchase, redeem, or otherwise acquire, outstanding equity interests of any Seller or any Affiliate thereof; or 

(p) entered into any agreement or otherwise obligated itself to do any of the foregoing. 

6.10 Contracts. 
 (a)
Section 6.10(a) of the Disclosure Schedule sets forth a true, complete and correct list of all of Sellers’ Contracts relating to the Business, including (i) any Contracts relating to products or services necessary
or useful for purposes of the Business or servicing the AT&T Contract, and (ii) Contracts pursuant to which any Seller leases or otherwise has the right to use any automobile or other vehicle used in the Business (together with the AT&T
Contract, the “Company Contracts”). 
 (b) Except for the AT&T Contract, none of the Company Contracts (w) limit
Sellers or any assignee or Affiliate thereof in any way from competing anywhere or in any business or from soliciting any Person as a customer, client, employee or other business relation, (x) would require the use of any supplier or third
party on an exclusive basis for all or substantially all requirements or needs relating to any goods or services, (y) would require the provision to the other parties thereto of “most favored nations” pricing, or (z) requires the
marketing or co-marketing of any goods or services of a third party. Each Company Contract is legal, valid and binding, in full force and effect, and enforceable against Sellers and, to the Knowledge of
Sellers, the other parties thereto, in accordance with its terms, subject to Laws of general application relating to the rights of creditors generally and the availability of equitable remedies, and neither Sellers nor, to the Knowledge of Sellers,
any other parties thereto is in default thereunder (with or without notice or lapse of time, or both). To the Knowledge of Sellers, no event has occurred or circumstance exists that (with or without notice or lapse of time, or both) would result in
a breach of, or give Sellers or any other Person the right to declare a default or exercise any remedy under, or accelerate the maturity or performance of or payment under, or cancel, terminate or modify, any Company Contract. Sellers have not, and
to the Knowledge of Sellers, no other party to any Company Contract has, exercised any termination rights with respect thereto. Sellers have made available to Buyer executed originals or true, complete and correct copies of all Company Contracts,
together with all amendments or modifications thereto. 
 6.11 Customers; Suppliers. 

(a) Section 6.11(a) of the Disclosure Schedule accurately sets forth the amount of gross revenue attributable to the
Material Customer during each month of the 12-month period ended December 31, 2021 and each month of the 6-month period ended June 30, 2022 and all Customer
Chargebacks and Liabilities described in clause (b) of the definition of Customer Inventory Losses during each month of such periods. Except as set forth in Section 6.11(a) of the Disclosure Schedule, Sellers have not
received any written indication that the Material Customer intends to cease or materially reduce the amount of business that it has been doing with Sellers during such periods or, after the Closing Date, will be doing with Buyer or its Affiliates.
Since January 1, 2022, Sellers have not made any written commitment to Material Customer to implement price reductions or downward price adjustments. 

  
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 (b) Section 6.11(b) of the Disclosure Schedule sets forth a true,
complete and correct list of the vendors and suppliers of goods and services to Sellers to which Sellers paid or accrued expenses in excess of $20,000 during the prior 12-month period ending June 30,
2022. For each such Person, Section 6.11(b) of the Disclosure Schedule accurately sets forth the amount of accrued expenses attributable to such Person during the 12-month period
ended June 30, 2022, and whether such good or services are, directly or indirectly, used in connection with the Business, including servicing the AT&T Contract. Except as set forth in Section 6.11(b) of the
Disclosure Schedule, Sellers have not received any written indication that any of the Material Suppliers intends to cease or materially reduce the amount of business that it has been doing with Sellers during such periods or, after the Closing Date,
will be doing with Buyer or its Affiliates. Since January 1, 2022, Sellers have not made any written commitment to any Material Supplier to modify such relationships in any manner adverse to Sellers, in each case, except as set forth in the
applicable Company Contracts that have been made available to Buyer or as would not, individually or in the aggregate, be material. 
 6.12
Intellectual Property; Privacy. 
 (a) Section 6.12(a) of the Disclosure Schedule sets forth, for the
Sellers-Owned Intellectual Property, a complete and accurate list of all domestic and foreign federal, state and/or provincial: (i) Patents and Patent applications issued or pending; (ii) Trademark registrations and applications for
registration and material unregistered Trademarks; (iii) all registered Copyrights and material unregistered Copyrights; (iv) all Domain Names; and (v) all other Sellers Intellectual Property owned or purported to be owned by Sellers
that is subject of an application, certificate or registration issued by any Governmental Entity (the “Registered Intellectual Property”), in each case listing the title and current owner, the jurisdiction in which each such
Registered Intellectual Property has been issued or registered, the application, and the serial or registration number for each. 
 (b) With
respect to each item of Registered Intellectual Property, all necessary registration, maintenance and renewal fees currently due in connection with such Registered Intellectual Property have been made. None of the Registered Intellectual Property
(i) has been abandoned or withdrawn; or (ii) is the subject of any opposition filed with the United States Patent and Trademark Office or any other intellectual property registry anywhere in the world. 

(c) Section 6.12(c) of the Disclosure Schedule sets forth all (i) Sellers-Owned Software; and (ii) IP
Licenses (excluding off-the-shelf computer programs with annual license fees less than $20,000 and the terms of use or service for any software as a service subject to a
subscription or annual fee of less than $20,000). 
 (d) The Sellers Intellectual Property constitutes all the Intellectual Property
material or necessary to the conduct of the Business as presently conducted or as proposed to be conducted. Sellers exclusively own or possess all licenses or other legal rights to use, sell and license all Sellers-Owned Intellectual Property, free
and clear of all Liens. Except as set forth on Section 6.12(d) of the Disclosure Schedule, Sellers have not granted to any Person or authorized any Person to retain any rights in any Sellers-Owned Intellectual Property. To
the extent that any work, material, invention that has been incorporated into or embodied in any of Sellers’ products or services or any other Sellers-Owned Intellectual Property has been developed or created by an employee or a third party for
or on behalf of Sellers, Sellers have a valid and enforceable agreement with such employee or third party obligating such employee or third party to keep the Intellectual Property and confidential information of Sellers and used in the Business
confidential and assigning all of such employee’s or third party’s rights in the Intellectual Property to Sellers with respect thereto and thereby Sellers have obtained exclusive ownership of all Intellectual Property rights in and to such
work, material, invention or Sellers-Owned Intellectual Property. Sellers owns and possesses all source code for all Sellers-Owned Software. 

  
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 (e) Sellers have taken all reasonable actions to protect, preserve and maintain the
Sellers-Owned Intellectual Property and to maintain the confidentiality, secrecy and value of the confidential information and Trade Secrets of Sellers, and such confidential information and Trade Secrets have not been used, divulged or appropriated
either for the benefit of any Person (other than Sellers) or to the detriment of Sellers. To the Knowledge of Sellers, there has not been any breach by any third party of any confidentiality obligation to Sellers. All current and former employees of
Sellers, and all current and former independent contractors and consultants of Sellers, who have had access to confidential or proprietary information of Sellers have entered into confidentiality and/or proprietary information agreements with
Sellers. 
 (f) Except as set forth in Section 6.12(f) of the Disclosure Schedule or as would not be material:

 (i) the conduct of the Business as currently conducted (and its employees’ and consultants’ performances of
their duties in connection therewith) and Sellers’ use of any Sellers Intellectual Property does not copy without permission, infringe, misappropriate, violate, impair or conflict with any common law, statutory or other right of any Person,
including, without limitation, any rights relating to any Intellectual Property, or defamation. Without limiting the generality of the foregoing, there are no Patents that impede or limit the current or currently contemplated operation of the
Business or use of the Sellers-Owned Intellectual Property; 
 (ii) there is no proceeding, opposition, cancellation,
objection or claim pending, asserted or threatened in writing against Sellers concerning the ownership, validity, registrability, enforceability, infringement, misappropriation, violation or use of, or licensed right to use any Sellers Intellectual
Property. To the Knowledge of Sellers, no valid basis exists for any such Legal Proceeding, opposition, cancellation, objection or claim; 

(iii) to the Knowledge of Sellers, no Person has or is copying without permission, infringing, misappropriating, violating,
impairing or conflicting with any common law, statutory or other right of Sellers or any other Person with respect to any of the Sellers Intellectual Property; 

(iv) the Sellers Intellectual Property is valid, enforceable and subsisting, and none of the Sellers Intellectual Property is
subject to any outstanding order, writ, injunction, decree, judgment, award, consent, settlement, stipulation, regulation, ruling or forbearances to sue or similar obligation, or has been the subject of any litigation within the past five years,
whether or not resolved in favor of Sellers; 
 (v) Sellers have not directly or indirectly transferred, assigned, licensed
or sublicensed its rights in any Sellers-Owned Intellectual Property; 
 (vi) all IP Licenses (A) are in full force and
effect in accordance with their terms and no default exists under any of the IP Licenses by Sellers or, to the Knowledge of Sellers, by any other party thereto; (B) are free and clear of all Liens; and/or (C) do not contain any change of
control or other terms or conditions that will become applicable or inapplicable as a result of the consummation of the transactions contemplated by this Agreement; 

  
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 (vii) all royalties, license fees, charges and other amounts payable by, on
behalf of, to, or for the account of, Sellers or the Business in respect of any Intellectual Property are disclosed in the financial statements made available to Buyer; 

(viii) no open source, public source or freeware software, code or other technology, or any modification or derivative thereof,
was or is, used in, incorporated into, integrated or bundled with the Seller’s Software would require any of such Seller’s Software to be: (A) disclosed or distributed in source code form; (B) licensed for the purpose of making
derivative works; or (C) distributed without charge. No third party (other than third parties that are providing services pursuant to written Contracts containing commercially reasonable confidentiality provisions for or on behalf of the
Sellers where such services require such third parties to possess source code) possesses any copy of any source code to any Sellers-Owned Software and at the Closing, Sellers shall have delivered to Buyer all copies, and Sellers shall not have
retained any copy of any source code to any Software; 
 (ix) with respect to Software or other Intellectual Property
licensed to Sellers under any IP License (“Licensed Intellectual Property”), Sellers have complied with any and all license obligations and restrictions with respect to the number of copies of the Licensed Intellectual Property
Sellers are permitted to install and/or royalty obligations. Neither Sellers nor any of their employees or agents has used, sublicensed, commercialized, placed or installed any Licensed Intellectual Property without a valid license for such Licensed
Intellectual Property. With respect to any Licensed Intellectual Property that is Software, no employee, consultant or any third party has copied, over-installed or otherwise used such Licensed Intellectual Property in any manner that would violate
the terms and provisions of the agreement through which Sellers licensed the such Licensed Intellectual Property; 
 (x)
neither this Agreement nor the consummation of the contemplated transactions will result in (A) any third party being granted rights or access to, or the placement in or release from escrow of, source code for any Sellers-Owned Software,
(B) the granting by Sellers or Buyer to any third party any rights in any Sellers Intellectual Property, (C) Buyer being obligated to pay any royalties or other amounts to any third party, with respect to Sellers Intellectual Property in
excess of those payable by Sellers prior to the Closing, or (D) the loss or impairment of Sellers or Buyer’s right to own or use any of Sellers Intellectual Property; or (E) require the consent of any third party in respect of any
Sellers Intellectual Property; and 
 (xi) The software and information technology systems used or held for use in connection
with the operation of the Business and/or necessary to provide Sellers’ products or services, (A) are in satisfactory working order, operates in accordance with its specifications or documentation and as necessary for the Business as
currently conducted, and is scalable to meet current and reasonably anticipated capacity; (B) have appropriate security, backups, disaster recovery arrangements, and hardware and software support and maintenance to minimize the risk of material
error, breakdown, failure, data loss or security breach occurring and to ensure if such event does occur that it does not cause a material disruption to Sellers’ business; (C) are configured and maintained to minimize the effects of
viruses and does not contain Trojan horses, spyware, adware, malware, or other malicious code; and (D) have not suffered any material error, breakdown, failure, loss of data, ransomware attack or security breach. 

  
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 (g) Sellers have maintained and maintain written policies, procedures, plans, controls and
safeguards regarding the privacy of Personal Data applicable to the Business (“Privacy Policies”). Sellers and the conduct of the Business are and at all times have been in compliance in all material respects with
(i) applicable Laws, consents and Contracts pertaining to the privacy, security, integrity, transmission, storage, or protection of Personal Data and (ii) Privacy Policies. (“Privacy and Security Requirements”). Sellers
have not received any notice or complaint during the past six years of, or been charged with or received any claim or notice that Seller is in violation of any Privacy and Security Requirements, and there is no charge, claim, assertion or Legal
Proceeding against, and to the Knowledge of Sellers, there are no pending investigations by any Governmental Entity of, Sellers relating to Privacy and Security Requirements. In the last six years, Sellers have not experienced any incident in which
any Personal Data was or may have been stolen, compromised or subject to any unauthorized access or use which may create, or result in any Liability to Buyer. Sellers have valid and enforceable rights to use all data collected or used for the
Business, including Personal Data, in compliance with applicable Privacy and Security Requirements. Neither the execution, delivery nor performance of this Agreement, nor the consummation of any of the transactions contemplated by this Agreement,
including any direct or indirect transfer of Personal Data resulting from such transactions, will violate any Privacy and Security Requirements. 

6.13 Labor Matters. Except as set forth on Section 6.13 of the Disclosure Schedule, there are no employment,
consulting, severance or indemnification Contracts between Sellers and any of their Employees. Sellers (a) are not party to or bound by any collective bargaining or similar agreement with any labor organization; and (b) have no employees
that are represented by any labor organization. To the Knowledge of the Sellers, there has not been, and currently there is not, any union organizing activities among the Employees. To the Knowledge of Sellers and except as set forth on
Section 6.13 of the Disclosure Schedule, no Employee has, on or prior to the date hereof, provided notice to any Seller of such Employee’s intent to terminate his or her employment as a result of or in contemplation of
the Transactions. There are, and since June 30, 2021 there have been, no complaints or allegations or to the Knowledge of Sellers, threatened complaints or allegations of sexual, racial or other discriminatory harassment, misconduct or similar
inappropriate behavior against any Employee (other than any Excluded Employee) or any Seller, and since June 30, 2019, no Seller has entered into any settlement agreement relating to allegations or threatened allegations of sexual, racial or
other discriminatory harassment or misconduct by any Employee or any Seller. Since June 30, 2019, Sellers have promptly, thoroughly and impartially investigated (to the extent reasonable) all sexual, racial or other discriminatory harassment
allegations of which it is aware, and taken prompt corrective action that is reasonably calculated to prevent further improper action with respect to each such allegation found to have merit. 

6.14 Environmental Matters. 

(a) Except as set forth on Section 6.14 of the Disclosure Schedule, to the Knowledge of Sellers, all uses by Sellers
of the assets and Leased Real Properties of Sellers have been, since June 30, 2017, in compliance in all material respects with all Laws and Permits related to the protection of the environment or public health and safety of Persons from
exposure to Hazardous Substances (collectively, “Environmental Laws”). Except as set forth in Section 6.14 of the Disclosure Schedule, Sellers have not received any written notice of any Legal Proceedings
involving any violations or alleged violations by Sellers of any Environmental Laws. Sellers have complied in all material respects with all Environmental Laws, including those related to the storage, handling and removal of any Hazardous Substance.
During Sellers’ leasing of the Leased Real Properties, there has been no Release by Sellers of any Hazardous Substance on such properties that would be material to Sellers, and, to the Knowledge of Sellers, the same never has occurred on such
properties. To the Knowledge of Sellers, the Leased Real Properties are not subject to any Liability for the cleanup, Removal, or remediation of any Hazardous Substance. To the Knowledge of Sellers, the Leased Real Properties are not the subject of
any notice or notification regarding same nor subject to the threat or likelihood thereof by any Governmental Entity. 
 (b) To the
Knowledge of Sellers, no Underground Storage Tanks are located upon and/or serve any Leased Real Properties. 

  
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 6.15 Compliance with Laws. Sellers and the conduct of the Business are and at all
times have been in compliance in all material respects with all Laws applicable to them or to the conduct and operations of the Business or relating to or affecting the Transferred Assets. Sellers have not received any written notice to the effect
that, or otherwise been advised of and to the Knowledge of Sellers there has not occurred with respect to the Transferred Assets or the Business (a) any actual, alleged, possible or potential violation of, or failure to comply with, any such
Laws, or (b) any actual, alleged, possible or potential obligation on the part of Sellers to undertake, or to bear all or any portion of the cost of, any remedial action of any nature, except for any such violations or failures to comply that
would not, individually or in the aggregate, have or be reasonably expected to be material. 
 6.16 Prepaid Expenses; Deferred
Revenue. Section 6.16 of the Disclosure Schedule sets forth a true, complete and correct list of all prepaid expenses and deposits of Sellers relating to the Transferred Assets, including all security deposits for
equipment and prepayments on equipment leases of Sellers, all of which are being transferred to Buyer in accordance with this Agreement. Except on Section 6.16 of the Disclosure Schedule, no Seller has any Liability in
respect of or in connection with any deferred revenue. Not less than two and not more than five Business Days prior to the Closing Date, Sellers shall update Section 6.16 of the Disclosure Schedule, and such updated
Section 6.16 of the Disclosure Schedule shall set forth a true, complete and correct list of all of Sellers’ deferred revenue, including all Customer Deferred Revenue. 

6.17 Brokers. Except for those set forth on Section 6.17 of the Disclosure Schedule, for whom Sellers shall
be solely responsible for any fees, commissions or other amounts owing or that may become due and owing, Sellers have not engaged or incurred any Liability to any agent, broker or other Person acting pursuant to the express or implied authority of
Sellers which is or may be entitled to a commission or broker or finder’s fee in connection with the transactions contemplated by this Agreement or otherwise with respect to the sale of the Transferred Assets. 

6.18 Permits. Section 6.18 of the Disclosure Schedule sets forth all material Permits applicable to any
Seller, or applicable to the conduct and operations of the Business, or relating to or affecting the Transferred Assets, including any Permit, the failure of which to possess would prevent the Business from operating at any existing Business
location. Sellers are and at all times have been in compliance in all respects with all Permits applicable to it, or applicable to the conduct and operations of the Business, or relating to or affecting the Transferred Assets, except for such
failures to comply that would not, individually or in the aggregate, be material to any Seller, the Business or any Transferred Asset. Sellers have not received any written notice from any Governmental Entity specifically alleging (a) any
actual, alleged, possible or potential violation of, or failure to comply with, any such Permits or (b) any actual, alleged, possible or potential revocation, withdrawal, suspension, cancellation or termination of, or any modification to, any
Permit. 
 6.19 Insurance. Sellers are not in default under any of their insurance policies or binders, and Sellers have not failed
to give any notice or to present any claim under any such policy or binder in a due and timely fashion. Section 6.19 of the Disclosure Schedule sets forth a true, complete and correct list of all material insurance policies
held by Sellers relating to the Business. All such insurance policies are in full force and effect and are sufficient to comply with all requirements of applicable Law and Company Contracts. 

6.20 Telephone Numbers and Internet Connections. Section 6.20 of the Disclosure Schedule accurately sets
forth all telephone numbers, service and Internet connections that are used or made available for use by Sellers’ customers in connection with the Business. 

  
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 6.21 Taxes; Tax Returns. Sellers have filed with the proper Governmental Entities all
material Tax Returns required to be filed by them with respect to the Business or the Transferred Assets, and all such Tax Returns are complete and correct in all material respects and disclose all material Taxes required to be paid in respect of
the Business and the Transferred Assets. Sellers have paid to the proper Governmental Entities all material Taxes (whether or not shown on any Tax Return) that are due and payable, including any Taxes the
non-payment of which has resulted or could result in a Lien on any Transferred Asset that survives the Closing or could result in Buyer becoming liable or responsible therefor. Sellers have not received any
outstanding notice of audit, and are not undergoing any audit, of Tax Returns relating to the Business and have never received any written notice of deficiency or assessment from any taxing authority with respect to Liability for a material amount
of Taxes relating to the Business which has not been fully paid or finally settled. Sellers have complied in all material respects with all applicable Laws, rules and regulations relating to the payment and withholding of Taxes and have withheld all
amounts required by Law to be withheld from the wages or salaries of employees and independent contractors of the Business and are not liable for any Taxes with respect to the employees and independent contractors of the Business for failure to
comply with such Laws, rules and regulations, except for such Liabilities with respect to which Buyer could not be liable after the Closing. 

6.22 Undisclosed Liabilities. Except as set forth in Section 6.22 of the Disclosure Schedule, none of the
Sellers has any Liabilities relating to the Business except for those current liabilities incurred by them since January 1, 2022 in the Ordinary Course of Business for the purchase or sale of goods, wares, merchandise, materials or supplies to
be delivered to or by, or for services rendered or to be rendered to or by, Sellers in connection with the Business and which do not vary in amount and nature from those reflected on the most recent financial statements contained in the Seller SEC
Reports and do not relate to a breach of contract, breach of warranty, tort, infringement or violation of Law. 
 ARTICLE VII 

REPRESENTATIONS AND WARRANTIES OF BUYER 

Buyer represents and warrants to Sellers as follows: 

7.1 Organization, Qualification and Authority. Buyer is a limited liability company duly organized, validly existing and in good
standing under the Laws of the State of Delaware. Buyer has all necessary limited liability company power and authority to (a) own and operate its properties, (b) carry on its business as it is now being conducted, and (c) perform its
obligations under this Agreement and the other Transaction Documents, and to undertake and carry out the transactions contemplated hereby and thereby. 

7.2 Authorization, Execution and Delivery of Agreement and Transaction Documents. All necessary consents and approvals have been
obtained by Buyer for the execution and delivery of this Agreement and the Transaction Documents. The execution, delivery and performance of this Agreement and the other Transaction Documents in accordance with their terms by Buyer have been duly
and validly authorized and approved by all necessary limited liability company action. Buyer has full limited liability company power, right and authority to acquire the Transferred Assets. This Agreement is, and each of the other Transaction
Documents when so executed and delivered will be, a valid and binding obligation of Buyer, enforceable against it in accordance with its terms, except to the extent such enforceability may be limited by bankruptcy, insolvency or other similar Laws
affecting creditors. 
 7.3 Brokers. Buyer has not engaged any agent, broker or other Person acting pursuant to the express or
implied authority of Buyer that is or may be entitled to a commission or broker or finder’s fee in connection with the transactions contemplated by this Agreement or otherwise with respect to the sale of the Transferred Assets. 

  
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 7.4 No Violation of Laws or Agreements. The performance by Buyer of its obligations
contemplated hereunder and the consummation by Buyer of the transactions contemplated herein will not violate (a) any Laws or any order, writ, injunction, decree, judgment, award, consent, settlement, stipulation, regulation or rule of any
court or Governmental Entity to which Buyer is subject; or (b) contravene, conflict with or result in a violation of any provision of any organizational documents of Buyer; except that would not, individually or in the aggregate,
materially adversely affect Buyer’s ability to consummate the transactions contemplated hereby. 
 ARTICLE VIII 

COVENANTS AND AGREEMENTS 

8.1 Conduct of Business. Except as otherwise expressly contemplated by this Agreement or with the prior written consent of Buyer, from
the date hereof until the Closing Date, Sellers shall use reasonable best efforts to preserve intact the Business and the Transferred Assets and maintain its rights, Contracts and Permits, keep available the services of employees and contractors and
preserve their relationships with customers, manufacturers, landlords and others having business dealings with Sellers. Without limiting the generality of the foregoing (but subject to the express limitation set forth in the immediately preceding
sentence), Sellers will, other than with Buyer’s consent (which consent shall not be unreasonably withheld or delayed), refrain from doing any of the following: 

(a) dispose of, transfer, assign or license, any Transferred Asset, including, but not limited to, the AT&T Contract; 

(b) transfer any tangible Transferred Asset to any other location to the extent that, at the Closing, such Transferred Asset is not at a
location that is not otherwise part of the Transferred Assets; 
 (c) except as otherwise provided or required in this Agreement, reject,
terminate, amend or modify the terms of any of the Assumed Contracts or assign any of the Assumed Contracts, or reject, terminate, enter into or amend any other material Contract with respect to the businesses of any Seller that would affect the
Transferred Assets, the Assumed Liabilities or the Employees; 
 (d) acquire or agree to acquire by merging or consolidating with, or by
purchasing any equity interest in or assets of, or by any other manner, in a single transaction or a series of related transactions, any Person; 

(e) sell, transfer, license, abandon, let lapse, encumber or otherwise dispose of any Sellers Intellectual Property; 

(f) amend or propose to amend or otherwise change Sellers’ articles of incorporation, bylaws, certificate of formation, operating
agreement or similar governing document; 
 (g) cancel, compromise, settle, release or discharge any Legal Proceeding or any other material
claim of Sellers; 
 (h) enter into any agreement or commitment that would subject Sellers to any
non-competition, non-solicitation or any other material restrictions on Sellers’ ability to conduct its business, or that limits or restricts the use of the Sellers
Intellectual Property or any other Intellectual Property in which Sellers have any interest or right; 
 (i) cancel or terminate the
insurance coverage under Sellers’ insurance policies; 

  
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 (j) make any change in the operation of any Seller’s businesses that would affect the
Transferred Assets, the Assumed Liabilities or the Employees, including, but not limited to, the providing of any notice required by the WARN Act or any other applicable Law; 

(k) (A) increase the rate or terms of compensation payable or to become payable to any of the officers or employees of Sellers,
(B) increase the rate or terms of any (including entering or adopting any new) Employee Plan covering any of the officers or employees of Sellers except as required by applicable Laws, or (C) pay or agree to pay any retention payment to
any of the officers or employees of Sellers, whether before or after the Closing; 
 (l) take any action that, if taken after
December 31, 2021 and prior to the date hereof, would require disclosure pursuant to Section 6.9 or, without limiting the generality of the foregoing, take any action outside of the Ordinary Course of Business except
as expressly required by the Bankruptcy Court pursuant to the Voluntary Bankruptcy Cases; or 
 (m) authorize any of, or commit, agree in
writing or otherwise, to take any of, the foregoing actions. 
 8.2 Mutual Covenants. The parties hereto mutually covenant (and
subject to the other terms of this Agreement): 
 (a) subject to Section 8.2(c), from the date of this Agreement
to the Closing Date, to cooperate with each other in determining whether filings are required to be made or consents (including any Required Consents) required to be obtained in any jurisdiction in connection with the consummation of the
transactions contemplated by this Agreement and in making or causing to be made any such filings promptly and in seeking to obtain timely any such consents including any Required Consents (each party hereto shall furnish to the other and to the
other’s counsel all such information as may be reasonably required in order to effectuate the foregoing action), which consents shall not, in any event, include any consent the need for which is obviated by the Sale Order or otherwise by the
provisions of the Bankruptcy Code; 
 (b) from the date of this Agreement to the Closing Date, to advise the other parties promptly if such
party determines that any condition precedent to its obligations hereunder will not be satisfied in a timely manner; and 
 (c) as soon as
reasonably practicable (and, in any event, within five Business Days) following the date hereof, Sellers, on the one hand, and Buyer, on the other hand, shall each prepare and file, or cause to be prepared and filed, any notifications required to be
filed under the HSR Act with the United States Federal Trade Commission and the Antitrust Division of the United States Department of Justice, and request early termination of the waiting period under the HSR Act. Buyer, on the one hand, and
Sellers, on the other hand, shall promptly respond to any requests for additional information or documentary materials in connection with such filings and shall take all other reasonable actions necessary to cause the waiting periods under the HSR
Act to terminate or expire at the earliest practicable date after the date of filing. Sellers shall reimburse Buyer for the cost of any applicable filing fee pursuant to the HSR Act or any other antitrust filing (the “HSR Filing
Fee”) within three days following receipt of Buyer’s written request for reimbursement. 
 Notwithstanding the foregoing, nothing in this
Section 8.2 shall require, or be construed to require, Buyer or any of its Affiliates to agree to (i) sell, hold, divest, discontinue or limit, before or after the Closing Date, any assets, businesses or interests of
Buyer or any of its Affiliates; (ii) any conditions relating to, or changes or restrictions in, the operations of any such assets, businesses or interests which, in either case, could reasonably be expected to be material to, or materially
impact the economic or business benefits to Buyer of the transactions contemplated by this Agreement and the Transaction Documents; or (iii) any material modification or waiver of the terms and conditions of this Agreement. 

  
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 8.3 Notification of Certain Matters. Sellers shall give prompt written notice to
Buyer of: (a) a breach of any representation or warranty or covenant of Sellers contained in this Agreement, (b) the occurrence, or failure to occur, of any event that would be reasonably likely to cause any representation or warranty of
Sellers contained in this Agreement to be untrue or inaccurate at any time prior to the Closing determined as if such representation or warranty were made at such time, and (c) the occurrence of any event which has resulted or could reasonably
be expected to result in a Material Adverse Effect. 
 8.4 Access to Information. From the date hereof and through the date on which
the Closing occurs or this Agreement is terminated, Sellers shall fully cooperate with Buyer and shall give Buyer and its representatives (including Buyer’s accountants, consultants, counsel and employees), upon reasonable notice and during
normal business hours, full access to the properties, Contracts, Leases, equipment, employees, affairs, books, documents, records, data and other information of Sellers to the extent relating to the Business, the Transferred Assets, the Assumed
Liabilities and any other aspect of this Agreement, including the evaluation of any potential Transferred Employees, and shall cause their respective officers, employees, agents and representatives to furnish to Buyer all available documents,
records and other information (and copies thereof), to the extent relating to the Business, the Transferred Assets, the Assumed Liabilities, and any other aspect of this Agreement, in each case, as Buyer may reasonably request (and Seller shall use
reasonable best efforts to obtain any and all consents necessary or advisable, including with respect to personnel files, to permit the sharing of such information under applicable Laws). Buyer and its representatives are hereby expressly authorized
to contact any of Sellers’ current and former Employees, customers, vendors, suppliers or other persons having a commercial relationship with Sellers in connection with the transactions contemplated hereby, provided that, with Buyer must
provide Sellers with reasonable advance written notice and the opportunity to be present or participate in such communications to the extent such communications are with current customers, vendors or suppliers (and, for the avoidance of doubt,
Sellers waive any and all claims and other rights with respect to communications with any such current and former Employees, customers, vendors, suppliers or other persons or with respect to any hiring or other business relationships that develop
therefrom). 
 8.5 Public Announcement. Subject to the provisions of the Bankruptcy Code and Sellers’ right to make such filings
and disclosures as are necessary in connection with reporting requirements of the SEC and the Voluntary Bankruptcy Cases including, without limitation, marketing the Transferred Assets in accordance with the Bidding Procedures Order, no party hereto
shall make or issue, or cause to be made or issued, any public announcement or written statement (including any written communication or material communications to Employees of any Seller) concerning this Agreement or the transactions contemplated
hereby without the prior written consent of the other party hereto (which will not be unreasonably withheld or delayed), unless counsel to such party advises that such announcement or statement is required by Law (such as an obligation to disclose
under federal securities laws of the United States) (in which case the parties hereto shall make reasonable efforts to consult with each other prior to such required announcement). Notwithstanding anything herein to the contrary, prior to making any
filings or disclosures in connection with the Voluntary Bankruptcy Cases or in order to comply with applicable Laws or the rules and regulations of the SEC, Sellers shall provide Buyer with a reasonable opportunity to review the text of any such
filings or disclosures and incorporate all reasonable comments received from Buyer or its representatives, including any redactions or requests for confidential treatment. 

  
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 8.6 Taxes. 

(a) Sellers shall be responsible for all Taxes arising out of the Business or the ownership of the Transferred Assets or the Assumed
Liabilities attributable to taxable periods, or portions thereof, ending on or before the Closing, including Transfer Taxes, and, for the avoidance of doubt, all such Taxes shall be Excluded Liabilities. Without limiting the foregoing, all Transfer
Taxes, to the extent attributable to periods prior to the Closing, shall be paid or otherwise discharged by Sellers, including any and all sales or transfer, documentary, recording, use, stamp, registration and similar Taxes incurred or owed as a
result of the transactions contemplated by this Agreement. 
 (b) Sellers and Buyer shall (i) provide the other with such assistance as
may reasonably be requested by either of them in connection with the preparation of any Tax Return, any audit or other examination by any taxing authority or any judicial or administrative proceeding with respect to Taxes, (ii) retain and
provide the other with any records or other information which may be relevant to such return, audit, examination or proceeding, and (iii) provide the other with any final determination of any such audit or examination proceeding or
determination that affects any amount required to be shown on any Tax Return of the other for any period (which shall be maintained confidentially). 

8.7 Employees. 
 (a)
Subject to and in accordance with the provisions of this Section 8.7, Buyer may offer employment to certain of the Employees other than the Excluded Employees who are employed by Sellers as of the Closing, and offers to
Field Employees shall contain base compensation comparable to each Field Employee’s current base compensation as of the date hereof with Sellers. Buyer shall hire all of the Employees of Sellers who accept such offers made by Buyer and that
meet Buyer’s requirements with respect to employee screening, background checks and other conditions to employment. Employees who accept any offers of employment made by Buyer and become either full-time or part-time employees of Buyer or one
of its Affiliates or consultants of Buyer or one of its Affiliates following the Closing are herein referred to as “Transferred Employees.” Sellers shall use reasonable best efforts to assist Buyer in securing the employment of the
Employees or former Employees, and, for the avoidance of doubt, Sellers hereby waive any and all claims against any such Employee or former Employee that it may have against such Employee or former Employee, as applicable, in connection with the
solicitation, hiring or otherwise by Buyer of any such Employee or former Employee (including the use by such Employee or former Employee of any Seller of any confidential information of any Seller in such employment, or any other claims pursuant to
non-competition, confidentiality or other restrictive covenants). 
 (b) Except as otherwise
prohibited by applicable Law, on the Closing Date (immediately prior to Closing), Sellers will be responsible at Sellers’ own cost and expense, to take whatever steps are necessary to pay all obligations and Liabilities arising from or relating
to any salary, wage, benefit, bonus, vacation, sick leave, paid time off, insurance, employment Tax or similar Liability of each Seller to any employee, contractor or other similar Person (including under any of the Employee Plans or under any
employment Contract) allocable to services performed on or prior to the Closing (and all employment and other Taxes relating thereto), including the prorated amount of any bonus in respect of revenues related to any
pre-Closing period, and pay out in cash all accrued but unused paid time off as of immediately prior to the Closing (“Pre-Closing Compensation and Benefits
Liabilities”). 
 (c) Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person, including any
current or former Employee, officer, director, independent contractor or consultant (or any spouse or dependent of such individual) of Sellers or any Transferred Employees, any right, benefit or remedy of any nature whatsoever under or by reason of
this Agreement. 

  
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 8.8 Further Assurances; Post-Closing Access. Subject to the other provisions
hereof, Sellers shall use their reasonable best efforts to perform their obligations hereunder and to take, or cause to be taken, and do, or cause to be done, all things necessary, proper or advisable under applicable Law to cause the transactions
contemplated herein to be effected as soon as practicable, but in any event on or prior to the Outside Date, in accordance with the terms hereof and shall cooperate in a commercially reasonable manner with each other party hereto and their
representatives in connection with any action required to be taken as a part of their obligations hereunder. From time to time after the Closing and without further consideration, each of Buyer and Sellers, at the request of the other, will execute
and deliver such other instruments of conveyance and transfer or other instruments or documents, and take or arrange for such other actions, as may reasonably be required to effect any of the transactions contemplated by this Agreement or to provide
any party hereto with the benefits intended to be conferred and conveyed by this Agreement; provided that, notwithstanding anything to the contrary in this Section 8.8 or any other provision of this Agreement, neither Buyer
nor Sellers shall be required to execute any document or take any action that would (a) increase the Liability or obligation of the party of whom such document or action is requested beyond that such party would have pursuant to the other
provisions of this Agreement, (b) require or cause the party of whom such action or document is requested to initiate, join in or otherwise become a party to any Legal Proceeding, or (c) cause such party to incur any material cost or
expense that is not already imposed upon it by another provision of this Agreement. Notwithstanding anything to the contrary set forth in this Agreement, for a period of 90 days following the Closing (the “Transition Period”),
Sellers shall, at no cost or expense to Buyer, provide Buyer, its Affiliates and their respective representatives with reasonable access, during normal business hours, to such Employees of Sellers that remain with Sellers following the Closing (the
“Seller Retained Employees”) that Buyer deems necessary or appropriate to assist Buyer with any matters arising following the Closing Date related to the Business. During the Transition Period, Sellers shall cause such Seller
Retained Employees to (i) reasonably cooperate in the provision of information relating to the Business to Buyer, its Affiliates and their respective representatives as requested by Buyer, and (ii) respond promptly (but in no event later
than two Business Days) to any and all inbound inquiries, questions, emails or any other communications or requests from Buyer, its Subsidiaries and its representatives during the Transition Period. 

8.9 Confidentiality. The terms of the Confidentiality Agreement, effective as of May 27, 2022, between Buyer and Enjoy Technology,
Inc. (as amended, supplemented or restated from time to time, the “Confidentiality Agreement”) shall terminate as of the Closing Date. If this Agreement is, for any reason, terminated prior to the Closing, the Confidentiality
Agreement shall nonetheless continue in full force and effect. Additionally, Sellers acknowledge that they have had access to and the use of confidential materials and information and trade secrets concerning the Business or the Transferred Assets,
and that the protection of such confidential materials and information and trade secrets is necessary to protect and preserve the value of the Business and the Transferred Assets after the Closing. Sellers shall not use, for themselves or others, or
disclose, divulge or convey to others, except as necessary to fulfill his or its obligations under this Agreement or Sellers’ Transaction Documents, any proprietary or confidential information or data related to the Business or the Transferred
Assets. Confidential information and data shall include proprietary or confidential matters not published or generally known in the relevant trade or industry such as and including information about prices, costs, purchasing, profits, markets, sales
or customer lists, future developments or future marketing, or merchandising but shall not include any information or data (a) that is generally available to the public (other than as a result of the disclosure directly or indirectly by any
Seller or its representatives or agents), (b) that is made available to Sellers by a third party on a non-confidential basis provided that such third party is not bound by a confidentiality agreement, or other
obligation of secrecy to, with respect to such information, or (c) that is independently developed after Closing by Sellers without reference to any confidential information protected hereunder. 

8.10 No Survival of Representations and Warranties. The representations and warranties of Sellers and Buyer contained in this Agreement
shall terminate as of the Closing. 

  
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 8.11 Communications and Activities with Customers and Suppliers. The parties hereto
shall reasonably cooperate with each other in coordinating their communications with any customer, supplier or other contractual counterparty of Sellers in relation to this Agreement and the Transactions contemplated hereby. 

8.12 Treatment of Contracts. Notwithstanding anything contained herein to the contrary, during the pendency of the Voluntary Bankruptcy
Cases, Sellers shall not reject or transfer any Contract that is not described on Section 1.1(a)(iii) of the Disclosure Schedule without first obtaining Buyer’s prior written consent. In the event that any of
the parties to this Agreement discovers a Contract related to the business of Sellers, the Business, the Transferred Assets or the Assumed Liabilities (whether prior to, on or following the Closing) and such Contract (i) was not set forth on
Section 1.1(a)(iii) of the Disclosure Schedule, (ii) is a Contract which Buyer wishes to assume the rights and obligations of, and (iii) has not been rejected by Sellers (with Buyer’s prior written
consent in compliance with the immediately preceding sentence), Buyer and Sellers shall execute, acknowledge and deliver such other instruments and take such further actions as are reasonably practicable for Buyer or a designee of Buyer to assume
the rights and obligations under such Contract as of the Closing (or, if applicable, as soon as reasonably practicable following the Closing), otherwise in accordance with Section 1.1. 

8.13 Transfer of Acquired Assets. Sellers shall fully cooperate with Buyer after the Closing to make access available to Buyer to all
Leased Real Properties which are not Transferred Leased Properties for a period of at least five Business Days following the Closing so that Buyer, at its expense, may cause to be located at facilities of its choosing all consigned inventory and
Transferred Assets from such Leased Real Properties that are not Transferred Leased Properties. All Transferred Assets located at Sellers’ headquarters office (3240 Hillview Avenue, Palo Alto, CA 94304) shall be removed from such premises
and delivered where directed by Buyer (in accordance with written notice provided to Sellers by Buyer delivered no less than five Business Days prior to Closing) on or before the second Business Day following Closing, at Sellers’
expense. Without limiting the generality of the foregoing, Sellers shall, at their sole cost and expense, maintain, or caused to be maintained (and not reject or terminate), any and all Leases for Leased Real Properties as of the date hereof,
including month-to-month leases (excluding, following Closing, Leases that are for Transferred Leased Properties) for no less than five Business Days following the
Closing Date and provide Buyer, its Affiliates and their respective representatives with access to all consigned inventory and Transferred Assets, including Tangible Personal Property, located thereon to permit Buyer, its Affiliates and their
respective representatives to relocate such Transferred Assets in its discretion. Notwithstanding anything in this Agreement to the contrary, (a) for any real property occupied as of the date hereof by any Seller pursuant to a Lease that
(i) has expired prior to the date hereof or (ii) will expire prior to October 1, 2022 (collectively, the “Subject Properties”), in each such case, Sellers shall, at Sellers’ sole cost and expense, satisfy any and
all Liabilities associated with the continued occupancy of each such Subject Property, including all rent and other payment obligations associated with any such Subject Property pursuant to the Subject Leases, in all respects and in a manner
sufficient to permit the continued occupancy thereof from the date of this Agreement until the Closing Date, and (b) if Buyer, pursuant to Section 1.2(a), identifies a Subject Lease as an Assumed Contract on
Section 1.1(a)(iii) of the Disclosure Schedule, Sellers shall ensure that all rent and other payments have been made in a manner that permits Buyer, at no cost or expense, to enjoy possession of such Subject Properties for
not less than 30 days following the Closing (the “Subject Property Obligation”). 
 8.14 Inventory. Within 30 days
following the Closing, Buyer shall arrange for a physical inventory of all inventory and other assets held on consignment pursuant to the AT&T Contract located at or in the Transferred Leased Properties and leased vehicles included in the
Transferred Assets or moved pursuant to Section 8.13 (the “Physical Inventory”), and Sellers shall cooperate fully Buyer and its representatives in connection with such Physical Inventory. 

  
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 8.15 Change of Name. Promptly (and, in any event, within fifteen (15) days)
following the Closing, each Seller shall, and shall cause their Subsidiaries to, discontinue the use of their current name (and any other trade names or “d/b/a” names currently utilized by each Seller or their Subsidiaries) and shall not
subsequently change any of their names to or otherwise use or employ any name which includes the words “Enjoy” and the other names used by Sellers without the prior written consent of Buyer, and each Seller shall cause the name of Sellers
in the caption of the Voluntary Bankruptcy Cases to be changed to the new names of each Seller. 
 ARTICLE IX 

CONDITIONS PRECEDENT TO BUYER’S OBLIGATION TO CLOSE 

The obligation of Buyer under this Agreement with respect to the purchase and sale of the Transferred Assets shall be subject to the
fulfillment on or prior to the Closing of each of the following conditions, any of which may be waived in writing by Buyer: 
 9.1
Accuracy of Representations and Warranties; Performance of this Agreement. Each of the representations and warranties made by Sellers shall be true and correct in all material respects on and as of the date hereof (unless such representation
or warranty is given as of a particular date in which case such representation or warranty will be considered only as of such particular date) and at and as of the Closing Date, except for any representations or warranties limited by the terms
“Material Adverse Effect,” “in all material respects,” “material,” or “materiality”, which shall be true and correct in all respects as of the date hereof and as of the Closing. Sellers shall have complied
with and performed in all material respects all of the agreements and covenants required by this Agreement and each other Transaction Document to be performed or complied with by them on or prior to the Closing. 

9.2 Officer’s Certificate. Sellers shall have delivered to Buyer a certificate, duly executed by an executive
officer of Sellers (including incumbency certificates), certifying Sellers’ compliance with the conditions set forth in Section 9.1. 

9.3 Transfer, Assignment and Assumption Documents. Sellers shall have delivered to Buyer the Bill of Sale(s), Trademark Assignment
Agreement(s) and other transfer documents required to be delivered pursuant to Article III, each duly executed by Sellers. 
 9.4
Data Room. Sellers shall have delivered to Buyer a true, complete and correct copy of the data room maintained by SS&C Intralinks, Inc. in connection with the transactions contemplated by this Agreement (the “Data Room”).

 9.5 Bankruptcy Matters. The Sale Order shall have been entered by the Bankruptcy Court on or before August 12, 2022 (or such
later time as is agreed in writing by Buyer in its sole and absolute discretion), and such Sale Order shall be a Final Order. 
 9.6
Winning Bidder. Buyer shall have been deemed the Successful Bidder (as such term is defined in the Bidding Procedures Order) for the Transferred Assets at any Auction. 

9.7 Required Consents. Buyer shall have received all Required Consents, including those set forth on
Section 9.7 of the Disclosure Schedule (which may, in Buyer’s sole discretion, be updated to reflect changes in the Assumed Contracts pursuant to Section 1.1(a)(iii)), in form and substance
reasonably satisfactory to Buyer, which may be provided by either affirmative consent or operation of law. 
 9.8 HSR Filings. The
filings of Buyer and Seller pursuant to the HSR Act shall have been made and the applicable waiting period and any extensions thereof shall have expired or been terminated. 

  
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 9.9 AT&T Contract. Without limiting Section 9.7 above,
Buyer shall have received from Material Customer an assignment and amendment to the AT&T Contract, in form and substance reasonably satisfactory to Buyer and which shall be duly executed by Material Customer and, if required by Buyer, Enjoy,
pursuant to which the Material Customer consents to the assignment of the AT&T Contract to Buyer and eliminates covenants and other provisions that conflict with or would otherwise prohibit any of Buyer’s business activities with competing
businesses, including the limitations in Sections 4.5 and 4.14 thereof with respect to Competing Services (as defined in the AT&T Contract).  

9.10 Financing. The Final DIP Financing Order shall be a Final Order. Sellers shall be in compliance with, and shall have complied with
and performed in all material respects, all of the agreements and covenants required by the DIP Facility to be performed or complied with by them on or prior to the Closing. 

9.11 Key Employee Agreements. Each of the Key Employee Agreements shall remain in full force and effect and no party to the Key
Employee Agreements (excluding Buyer) shall have terminated any such Key Employee Agreement or provided notice to Buyer or any Seller that any such Person intends to terminate, or otherwise not fulfill the obligations set forth therein during the
full term thereof, any such Key Employee Agreements. 
 9.12 Other Employee Hires. Without limiting
Section 9.11, not less than (i) 110 of the HQ Employees, and (ii) 75% of the Field Employees that were extended offers of employment by Buyer pursuant to Section 8.7 hereof, have accepted such
employment and have satisfied all Buyer’s requirements with respect to employee screening, background checks, and other conditions to employment, and have not revoked such acceptance or provided notice to Buyer or any Seller than any such
Employee intends to terminate such Employee’s employment with Buyer prior to, at or following the Closing. 
 9.13 Accrued
Compensation and Benefits. Enjoy shall have delivered to Buyer documentary evidence satisfactory to Buyer, in its sole discretion, of the satisfaction of all Pre-Closing Compensation and Benefits
Liabilities. 
 9.14 No Material Adverse Effect. Since the date of this Agreement, there shall have been no Material Adverse Effect
to Sellers, the Transferred Assets or the Business. 
 9.15 Lease Obligation. Sellers shall (a) have maintained in effect all
Leases, including Subject Leases, to permit the continued right of occupancy of Sellers with respect to the Leased Real Properties and, as applicable, the Subject Properties through the Closing Date, and (b) have delivered to Buyer documentary
evidence satisfactory to Buyer reasonably evidencing that Sellers have satisfied the Subject Property Obligation. 
 9.16 Payment of Fees
and Expenses. Sellers shall have indefeasibly paid in full in cash all professional fees and expenses owed by Sellers pursuant to the Final DIP Financing Order through and including the Closing Date. 

ARTICLE X 
 CONDITIONS
PRECEDENT TO SELLERS’ OBLIGATION TO CLOSE 
 The obligation of Sellers under this Agreement with respect to the purchase and sale
of the Transferred Assets shall be subject to the fulfillment on or prior to the Closing of each of the following conditions, any of which may be waived in writing by Sellers: 

  
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 10.1 Accuracy of Representations and Warranties; Performance of this Agreement. Each
of the representations and warranties made by Buyer in this Agreement shall be true and correct in all material respects on and as of the date hereof (unless such representation or warranty is given as of a particular date in which case such
representation or warranty will be considered only as of such particular date) and at and as of the Closing Date, except for any representations or warranties limited by the terms “Material Adverse Effect,” “in all material
respects,” “material,” or “materiality”, which shall be true and correct in all respects as of the date hereof and as of the Closing. Buyer shall have complied with and performed in all material respects all of the
agreements and covenants required by this Agreement and each other Transaction Document to be performed or complied with by it on or prior to the Closing. 

10.2 Officer’s Certificate. Buyer shall have delivered to Sellers a certificate, duly executed by an executive
officer of Buyer (including incumbency certificates), certifying Buyer’s compliance with the conditions set forth in Section 10.1. 

10.3 Transfer, Assignment and Assumption Documents. Buyer shall have delivered to Sellers the documents required to be delivered by
Buyer, if any, pursuant to Article III, each duly executed by Buyer. 
 10.4 Bankruptcy Matters. The Sale Order shall have
been entered by the Bankruptcy Court. 
 10.5 Winning Bidder. Buyer shall have been deemed the Successful Bidder (as such term is
defined in the Bidding Procedures Order) for the Transferred Assets at any Auction. 
 10.6 HSR Filings. The filings of Buyer and
Seller pursuant to the HSR Act shall have been made and the applicable waiting period and any extensions thereof shall have expired or been terminated. 

ARTICLE XI 
 TERMINATION

 11.1 Breaches and Defaults; Opportunity to Cure. Prior to the exercise by a party of any termination rights afforded under
this Agreement, if either party (the “Non-Breaching Party”) believes the other (the “Breaching Party”) to be in breach hereunder, the
Non-Breaching Party shall provide the Breaching Party with written notice specifying in reasonable detail the nature of such breach, whereupon if such breach is curable the Breaching Party shall have 10
calendar days from the receipt of such notice to cure such breach to the reasonable satisfaction of the Non-Breaching Party. If the breach is not cured within such time period, then the Non-Breaching Party’s sole remedy shall be to terminate this Agreement if the breach is such that the condition set forth in Section 9.1 or Section 10.1, as
applicable, shall not be satisfied (as provided in Section 11.2); provided, however, that the Non-Breaching Party shall not be entitled to terminate this Agreement if it
is in material breach of this Agreement. 
 11.2 Termination. This Agreement may be terminated and the transactions contemplated
herein may be abandoned at any time prior to the Closing: 
 (a) by mutual written consent of Sellers and Buyer; 

(b) by Buyer, if any of the deadlines set forth in Section 2.2 are not met or satisfied; 

(c) unless Buyer has elected to serve as the Next-Highest Bidder, by Buyer or Sellers (by written notice given to the other party hereto) if
the Bankruptcy Court enters an order approving the sale of the Transferred Assets to an Alternative Purchaser; 

  
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 (d) subject to the right to cure set forth in Section 11.1, by
Buyer if Sellers are in breach of any covenant, representation, undertaking or warranty such that the condition set forth in Section 9.1 shall not be satisfied, and Buyer has not waived such condition in writing on or
before the Closing Date; 
 (e) subject to the right to cure set forth in Section 11.1, by Sellers if Buyer is in
breach of any covenant, representation, undertaking or warranty such that the condition set forth in Section 10.1 shall not be satisfied, and Sellers have not waived such condition in writing on or before the Closing Date;

 (f) by Sellers or Buyer if the Closing shall not have occurred on or before the Outside Date, unless the failure to have the Closing on
or before the Outside Date shall be due to the failure of the party seeking to terminate this Agreement to perform in any material respect its obligations under this Agreement required to be performed by it at or prior to the Closing; or 

(g) by Buyer, if Sellers shall be unable or unwilling to satisfy any Cure Costs in accordance with Section 1.1(e).

 ARTICLE XII 

MISCELLANEOUS 
 12.1
Notices. All notices and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given if delivered personally or sent by a nationally recognized overnight courier or
registered or certified U.S. mail, return receipt requested, postage prepaid or electronic mail (with confirmation of receipt), to the following addresses: 

If to Sellers: 
 Enjoy Technology,
Inc. 
 3240 Hillview Avenue 

Palo Alto, CA 94304 
 Attn: [***]

 Email: [***] 
 with a copy to
(which shall not constitute notice): 
 Cooley LLP 

500 Boylston St. 
 Boston, MA
02116 
 Attn: [***] 
 Email:
[***] 

  
 34 

 If to Buyer: 

Asurion, LLC 
 140 11th Ave. N

 Nashville, TN 37203 
 Attn:
[***] 
 Email: [***] 
 with a
copy to (which shall not constitute notice): 
 Bass, Berry & Sims PLC 

150 Third Avenue South, Suite 2800 

Nashville, Tennessee 37201 

Attention: [***] 
 Email: [***]

 Notices delivered personally shall be effective upon delivery against receipt. Notices transmitted by electronic mail shall be effective when received,
provided that the burden of proving when notice is transmitted by electronic mail shall be the responsibility of the party providing such notice. Notices delivered by overnight courier shall be effective when received. Notices delivered by
registered or certified U.S. mail shall be effective on the date set forth on the receipt of registered or certified delivery or 72 hours after mailing, whichever is earlier. 

12.2 Expenses. Except for the HSR Filing Fee, Break-Up Fee and/or Expense Reimbursement or as
otherwise provided in the DIP Facility, if applicable, each party shall bear its own expenses and costs, including the fees and expenses of any attorney retained by it, incurred in connection with the preparation of this Agreement and the
consummation of the transactions contemplated hereby. 
 12.3 Governing Law. This Agreement shall be governed by and construed in
accordance with the Laws of the State of Delaware (without application of principles of conflicts of law). In connection with any controversy arising out of or related to this Agreement, Sellers and Buyer hereby irrevocably consent to the exclusive
jurisdiction of the Bankruptcy Court, or if, and only if, the Voluntary Bankruptcy Cases have not yet been filed or have been closed, the state or federal courts located in the State of Delaware. Sellers and Buyer each irrevocably consents to
service of process out of the aforementioned courts and waives any objection which it may now or hereafter have to the laying of venue of any action or proceeding arising out of or in connection with this Agreement brought in the aforementioned
courts. 
 12.4 Assignment. This Agreement binds and benefits the parties and their respective successors and assignees. No party
hereto shall have the right to freely assign any of its rights or delegate performance of any of its obligations under this Agreement, without the prior written consent of the other parties, except that (a) Buyer may assign any of its rights
and delegate performance of any of its obligations under this Agreement (i) to any Affiliate of Buyer, or (ii) in connection with a business combination transaction, provided that no such assignment or delegation will relieve Buyer from
any of its obligations hereunder, or (b) Sellers may assign their rights to receive the Customer Net Seller Earned Revenue, if any, determined in accordance with Section 4.3 of this Agreement, to any liquidation
trustee appointed pursuant to a Chapter 11 plan that is confirmed in connection with the Voluntary Bankruptcy Cases. 
 12.5 Successors
and Assigns. Subject to Section 12.4, all agreements made and entered into in connection with this Transaction shall be binding upon and inure to the benefit of the parties hereto, their successors and permitted
assigns. 

  
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 12.6 Amendments; Waivers. No alteration, modification or change of this Agreement
shall be valid except by an agreement in writing executed by the parties hereto. Except as otherwise expressly set forth herein, no failure or delay by any party hereto in exercising any right, power or privilege hereunder (and no course of dealing
between or among any of the parties) shall operate as a waiver of any such right, power or privilege. No waiver of any default on any one occasion shall constitute a waiver of any subsequent or other default. No single or partial exercise of any
such right, power or privilege shall preclude the further or full exercise thereof. 
 12.7 Entire Agreement. This Agreement
(including the Exhibits and Disclosure Schedules which are hereby incorporated by reference into and made a part of this Agreement for all purposes) merges all previous negotiations and agreements between the parties hereto, either verbal or
written, and constitutes the entire agreement and understanding between the parties with respect to the subject matter of this Agreement. 

12.8 Counterparts. This Agreement may be executed in one or more counterparts, each of which when so executed shall be an original, but
all of which together shall constitute one agreement. Facsimile and/or PDF signatures shall be deemed original signatures. 
 12.9
Severability. If any provision of this Agreement or the application thereof to any Person or circumstance shall be invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provision to other Persons
or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by law, but only as long as the continued validity, legality and enforceability of such provision or application does not materially (a) alter
the terms of this Agreement, (b) diminish the benefits of this Agreement or (c) increase the burdens of this Agreement, for any Person. 

12.10 Section Headings. The section headings contained in this Agreement are solely for the purpose of reference, are not part of the
agreement of the parties and shall not in any way affect the meaning or interpretation of this Agreement. 
 12.11 Interpretation. As
both parties have participated in the drafting of this Agreement, any ambiguity shall not be construed against either party as the drafter. Unless the context of this Agreement clearly requires otherwise, (a) “or” has the inclusive meaning
frequently identified with the phrase “and/or,” (b) “including” has the inclusive meaning frequently identified with the phrase “including, but not limited to”, and (c) references to “hereof,”
“hereunder” or “herein” or words of similar import relate to this Agreement. 
 12.12 Third Parties. Nothing
herein, expressed or implied, is intended to or shall confer on any Person other than the parties hereto any rights, remedies, obligations or Liabilities under or by reason of this Agreement. 

12.13 Specific Performance. Buyer and Sellers agree that irreparable damage would occur and that the parties hereto would not have any
adequate remedy at law in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or
injunctions to prevent breaches or threatened breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in the Bankruptcy Court without proof of actual damages or otherwise (and, to the fullest extent
permitted by Law, each party hereby waives any requirement for the securing or posting of any bond in connection with such remedy), this being in addition to any other remedy to which they are entitled at law or in equity. 

  
 36 

 12.14 Disclosure Schedule and Exhibits. The Disclosure Schedule and Exhibits attached
to this Agreement shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. Any capitalized terms used in any Exhibit or in the Disclosure Schedule but not otherwise
defined therein shall be defined as set forth in this Agreement. The representations and warranties of Sellers set forth in any particular section of this Agreement are made and given subject to the disclosures contained in the corresponding section
of the Disclosure Schedule. Inclusion of the information in the Disclosure Schedule will not be construed as an admission that such information is material to the business, operations or condition (financial or otherwise) of Sellers. The Disclosure
Schedule has been arranged for purposes of convenience in separately titled sections corresponding to the Sections of this Agreement, but each section of the Disclosure Schedule shall be deemed to incorporate by reference all information disclosed
in any other section of the Disclosure Schedule to the extent it is reasonably apparent on its face that the disclosure of such matter is applicable to such section of the Disclosure Schedule. 

12.15 Release. 
 (a)
Effective immediately following the Closing, each Seller for and on behalf of itself and its Affiliates, and its and their respective officers, directors, control persons (as defined in Section 15 of the Securities Act, or Section 20 of
the Exchange Act), members, employees, agents, attorneys, financial advisors, consultants, representatives, shareholders, members, partners, successors and assigns (each, a “Seller Releasing Person” and, collectively, the
“Seller Releasing Persons”) hereby fully and forever releases and discharges Buyer and its Affiliates and its and their respective directors, officers, control persons (as defined in Section 15 of the Securities Act, or
Section 20 of the Exchange Act), members, employees (including, without limitation, non-Insider Transferred Employees), agents, attorneys, financial advisors, consultants, representatives, shareholders,
partners, successors and assigns solely in their capacity as such (each, a “Buyer Released Person”), from any liability whatsoever on or otherwise in relation to all Seller Released Claims. For purposes of this
Section 12.15, the term “Seller Released Claims” means any claim, counterclaim, setoff, recoupment, action or cause of action of any kind or nature whatsoever and other similar rights, demands, lawsuits and
complaints, debts, losses, obligations, liabilities, rights, rights of recovery and damages of every kind or nature whatsoever, whether known or unknown, asserted or un-asserted, and whether for general,
special, statutory, punitive or other damages, sanctions, costs, or attorney’s fees, or for equitable, declaratory, injunctive, reimbursement, or other relief, in each case including all derivative claims and whether currently pending or in
process and whether arising in the past, present or future and in respect of the Transaction or action or failure to take action at any time at or prior to the Closing that any Seller Releasing Person has or is entitled to make or assert, file or
bring against any Buyer Released Person. Notwithstanding anything set forth herein to the contrary, the releases set forth herein do not extend to any obligations of the parties under this Agreement that survive the Closing pursuant to the terms
hereof (and any Transaction Documents or instruments delivered pursuant hereto). For the avoidance of doubt, the definition of Buyer Released Person shall not include any Insider of Sellers. 

(b) Without limiting in any way the scope of the release contained in subparagraph (a) of this Section 12.15
and effective upon the Closing, each Seller, on behalf of itself and each Seller Releasing Person, to the fullest extent allowed under applicable Law, hereby waives and relinquishes for itself and each Seller Releasing Person, as applicable, all
statutory and common law protections purporting to limit the scope or effect of a general release, whether due to lack of knowledge of any claim or otherwise, including, waiving and relinquishing the terms of any law which provides that a release
may not apply to material unknown claims. Each Seller, on behalf of itself and each Seller Releasing Person, hereby affirms its intent to waive and relinquish such unknown claims and to waive and relinquish any statutory or common law protection
available in any applicable jurisdiction with respect thereto. 

  
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 12.16 Definitions. For purposes of this Agreement, the term: 

(a) “Affiliate” means, as to any Person, any other Person that, directly or indirectly, controls, or is controlled by, or is
under common control with, such Person. As used in this definition, “control” (including, with its correlative meanings, “controlled by” and “under common control with”) means the possession, directly or indirectly, of
the powers to direct or cause the direction of management or policies of a Person, through the ownership of securities or partnership or other ownership interests, by contract or otherwise. 

(b) “Agreement” has the meaning set forth in the preamble. 

(c) “Allocation Statement” has the meaning set forth in Section 4.2. 

(d) “Alternative APA” has the meaning set forth in Section 2.3(c). 

(e) “Alternative Purchaser” has the meaning set forth in Section 2.3(c). 

(f) “Assumed Contracts” has the meaning set forth in Section 1.1(a)(iii). 

(g) “Assumed Liabilities” has the meaning set forth in Section 1.1(c). 

(h) “AT&T Contract” means that certain AT&T Authorized Dealer Agreement, effective October 1, 2019, by and
between AT&T Mobility II, LLC (on behalf of itself and certain AT&T affiliates) and Enjoy Technology, Inc., as amended pursuant to that certain letter agreement amendment, dated April 27, 2022, by AT&T Mobility II, LLC to Enjoy
Technology, Inc. (c/o Tim Roper) (such amendment, the “Letter Amendment”). 
 (i) “Avoidance Claims” has
the meaning set forth in Section 1.1(a)(xii). 
 (j) “Bankruptcy Code” has the meaning set forth
in the recitals. 
 (k) “Bankruptcy Court” has the meaning set forth in the recitals. 

(l) “Bid Deadline” has the meaning set forth in Section 2.2(f). 

(m) “Bidding Procedures” means those Bidding Procedures attached as Exhibit 1 to the Bidding Procedures Order. 

(n) “Bidding Procedures Order” means the entry of an order approving the Bidding Procedures in the form of that proposed
order (I) (A) Approving Certain Bidding Procedures and the Form and Manner of Notice Thereof, (B) Scheduling an Auction and a Hearing on the Approval of the Sale of All or Substantially All of the
Debtors’ Assets, (C) Establishing Certain Assumption and Assignment Procedures and Approving Manner of Notice Thereof, and (D) Scheduling a Hearing to Approve Assumption and Assignment of the Assumed
Contracts; and (II) Granting Related Relief [D.I. 86-2] filed with the Bankruptcy Court on July 3, 2022, or otherwise in form and substance acceptable to Buyer in its sole and
absolute discretion. 
 (o) “Bill of Sale” has the meaning set forth in Section 3.1. 

(p) “Breaching Party” has the meaning set forth in Section 11.1. 

(q) “Break-Up Fee” has the meaning set forth in
Section 2.5. 
 (r) “Business” has the meaning set forth in the recitals. 

  
 38 

 (s) “Business Day” means any day on which banks are not required or
authorized to close in the City of New York, New York. 
 (t) “Buyer” has the meaning set forth in the preamble. 

(u) “Buyer Released Person” has the meaning set forth in Section 12.15(a). 

(v) “Claim” has the meaning under section 101(5) of the Bankruptcy Code. 

(w) “Closing” has the meaning set forth in Section 5.1. 

(x) “Closing Cash Consideration” has the meaning set forth in Section 4.1. 

(y) “Closing Date” has the meaning set forth in Section 5.1. 

(z) “Code” means the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder. 

(aa) “Company Contracts” has the meaning set forth in Section 6.10(a). 

(bb) “Confidentiality Agreement” has the meaning set forth in Section 8.9. 

(cc) “Consideration” has the meaning set forth in Section 4.1. 

(dd) “Contract” means any agreement, contract, note, mortgage, bond, indenture, lease, benefit plan or other instrument
whether written or oral. 
 (ee) “Copyrights” has the meaning set forth in Section 12.16(qqq).

 (ff) “Cure Cost and Deferred Revenue Certificate” has the meaning set forth in Section 1.2(a).

 (gg) “Cure Costs” has the meaning set forth in Section 1.1(e). 

(hh) “Customer Deferred Revenue” means, as of a particular date, the amount of all advanced compensation and other payments
received by Sellers or any of their respective Affiliates pursuant to the AT&T Contract for which the final amount due from Material Customer with respect to such periods has not yet been calculated by Material Customer, including, without
limitation, all advanced payments received pursuant to the Letter Amendment, with respect to the calendar month during which Closing occurs and regardless of whether such amounts have been retained, sold (including pursuant to any accounts
receivable factoring arrangement or similar agreement) or utilized by Sellers as of the applicable measurement date. 
 (ii)
“Customer Chargebacks” means all payment obligations, offsets, reimbursements, clawbacks, claims, charges or similar Liabilities arising, accruing or relating to periods prior to the Closing of any Seller (or, from and after the
Closing, Buyer or any other assignee of the AT&T Contract) to or for the benefit of Material Customer, including all obligations with respect to compensation reconciliations and Chargebacks as defined in Section 6.4 of the AT&T Contract
(without duplication of any AT&T Inventory Losses set forth in the Customer Holdback Statement). 

  
 39 

 (jj) “Customer Holdback Amount” means $23,800,000 (or such lesser amount as
may be determined by Buyer prior to Closing in its sole discretion based on the timing of Closing relative to receipt by Enjoy of Customer Deferred Revenue and information that may be received by Buyer from Material Customer prior to Closing that
allows Buyer to determine with certainty portions of the Customer Post-Closing Revenue, the Customer Post-Closing Chargebacks, the Customer Post-Closing Residual and the Customer Inventory Losses that are unknown as of the date hereof). 

(kk) “Customer Holdback Measurement Period” means the period beginning as of the Closing and ending on the last calendar day
of the month that includes the date that is six months immediately following the Closing Date. 
 (ll) “Customer Holdback
Statement” has the meaning set forth in Section 4.3. 
 (mm) “Customer Inventory Losses”
means the (a) amount by which the inventory and other assets actually held on consignment pursuant to the AT&T Contract as of the Closing Date as determined by the Physical Inventory is less than the amount of inventory and assets consigned
to Sellers pursuant to the AT&T Contract (other than inventory and assets held on consignment sold in accordance with valid orders pursuant to the terms of the AT&T Contract), plus (b) the amount of all other Liability of Sellers (or,
following the Closing, Buyer or its Affiliates) for any other damage, loss, destruction or theft at or prior to the Closing of inventory or assets held on consignment pursuant to the AT&T Contract (including pursuant to Section 4.16.5
thereof), as determined by Buyer in good faith. 
 (nn) “Customer Net Seller Earned Revenue” has the meaning set forth in
Section 4.3. 
 (oo) “Customer Post-Closing Chargebacks” has the meaning set forth in
Section 4.3. 
 (pp) “Customer Post-Closing Residual” has the meaning set forth in
Section 4.3. 
 (qq) “Customer Post-Closing Revenue” has the meaning set forth in
Section 4.3. 
 (rr) “Data Room” has the meaning set forth in
Section 9.4. 
 (ss) “DIP Facility” has the meaning set forth in the Interim DIP Financing Order
or Final DIP Financing Order, as applicable. 
 (tt) “Disclosure Schedule” has the meaning set forth in Article VI.

 (uu) “Domain Names” has the meaning set forth in Section 12.16(qqq). 

(vv) “Employee” means, as of the applicable time of determination, any Person employed by any Seller. 

(ww) “Employee Plan” means (i) any employee benefit plan (within the meaning of Section 3(3) of ERISA), (ii) any
retirement, welfare benefit, bonus, incentive, supplemental retirement, deferred compensation, retiree welfare, life insurance, severance, Code Section 125 flexible benefit or vacation or other paid
time-off plan, program or agreement and (iii) any individual employment, retention, termination, severance or other similar agreement, in each case, pursuant to which Sellers or their Affiliates currently
has any obligation with respect to any Employee, other than governmental plans or arrangements. 
 (xx) “Enjoy” has the
meaning set forth in the preamble. 
 (yy) “Enjoy LLC” has the meaning set forth in the preamble. 

(zz) “Enjoy Operating” has the meaning set forth in the preamble. 

  
 40 

 (aaa) “Environmental Laws” has the meaning set forth in
Section 6.14(a). 
 (bbb) “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended. 
 (ccc) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(ddd) “Excluded Assets” has the meaning set forth in Section 1.1(b). 

(eee) “Excluded Contracts” has the meaning set forth in Section 1.1(b)(iv). 

(fff) “Excluded Employees” shall mean those Employees set forth on Section 12.16(eee) of the
Disclosure Schedule. 
 (ggg) “Excluded Liabilities” has the meaning set forth in Section 1.1(d).

 (hhh) “Expense Reimbursement” has the meaning set forth in Section 2.5. 

(iii) “Field Employee” means an Employee that is not an HQ Employee. 

(jjj) “Final DIP Financing Order” means a final order of the Bankruptcy Court approving the DIP Facility (as defined in the
Interim DIP Financing Order), in form and substance acceptable to the DIP Lender (as defined in the Interim DIP Financing Order) in its sole and absolute discretion. 

(kkk) “Final Order” means an order or judgment, the operation or effect of which has not been reversed, stayed, modified, or
amended, that is in full force and effect, and as to which order or judgment (or any reversal, stay, modification, or amendment thereof) (a) the time to appeal, seek certiorari, request for reargument or further review or rehearing, or file a
motion for stay, modification, or amendment has expired and no appeal, petition for certiorari, request for reargument or further review or rehearing, or motion for stay, modification, or amendment has been timely filed, or (b) any appeal that
has been or may be taken or any petition for certiorari, request for reargument or further review or rehearing, or motion for stay, modification or amendment that has been or may be filed has been resolved by the highest court to which the order or
judgment was appealed, from which certiorari was sought, or to which the request was made, and no further appeal or petition for certiorari, request for reargument or further review or rehearing, or motion for stay, modification, or amendment has
been or can be taken or granted. 
 (lll) “GAAP” has the meaning set forth in Section 6.8(a). 

(mmm) “Governmental Entity” means any supranational, national, state, provincial, municipal, local or foreign government or
any instrumentality, subdivision, court, administrative agency or commission or other authority thereof. 
 (nnn) “Hazardous
Substance” means (i) any petroleum or petroleum product, flammable explosive, radioactive material, medical waste, radon, asbestos or asbestos-containing material or polychlorinated biphenyls (PCBs); and (ii) any element,
compound, substance, waste or other material that is regulated under any Environmental Law or is defined as, or included in the definition of, or deemed by or pursuant to any Environmental Law or by any Governmental Entity to be
“hazardous,” “toxic,” a “contaminant,” “waste,” a “pollutant,” “hazardous substance,” “hazardous waste,” “restricted hazardous waste,” “hazardous material,”
“extremely hazardous waste,” a “toxic substance,” a “toxic pollutant” or words with similar meaning, including any element, compound, substance, waste or other material that is

  
 41 

 
regulated under the federal Comprehensive Environmental Response, Compensation, and Liability Act, the Superfund Amendments Reauthorization Act, the Resource Conservation and Recovery Act, the
Clean Air Act, the Federal Water Pollution Control Act, the Toxic Substances Control Act, the Oil Pollution Act, the Safe Drinking Water Act, the Hazardous Materials Transportation Act, and other similar federal, state or local environmental
conservation and protection Laws, each as amended. 
 (ooo) “HQ Employees” means Employees who, during the six month period
immediately preceding the Closing, worked primarily out of Sellers’ headquarters office (3240 Hillview Avenue, Palo Alto, CA 94304). 

(ppp) “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. 

(qqq) “HSR Filing Fee” has the meaning set forth in Section 8.2(c). 

(rrr) “Insider” has the meaning ascribed to it in the Bankruptcy Code. 

(sss) “Intellectual Property” means all domestic and foreign, federal, state and/or provincial (i) patents and patent
applications, and all patents issuing thereon, including without limitation utility, model, industrial design and design patents and certificates of invention, together with all reissue patents, patents of addition, divisionals, provisional
applications, renewals, continuations, continuations-in-part, substitutions, additions, extensions, confirmations,
re-examinations, and all foreign counterparts of the forgoing which are in the process of being prepared, and all inventions and improvements disclosed therein (collectively, “Patents”); (ii)
trademarks, service marks, trade dress, trade names, brand names, designs, logos, commercial symbols and corporate names, and all registrations, applications, and goodwill associated therewith (collectively, “Trademarks”); (iii)
copyrights and all works of authorship, whether or not registered or copyrightable, and all applications, registrations, and renewals in connection therewith (collectively, “Copyrights”); (iv) software, including without limitation
computer programs, operating systems, applications, software, firmware, tools, data files, databases, graphics, schematics, interfaces, architecture, file formats, routines, algorithms, and any and all specifications and documentation (including
training and user manuals) related thereto and all copyrights therein (“Software”); (v) domain names, Internet addresses and other computer identifiers, web sites, URLs, web pages, unique phone numbers, registrations for any of the
foregoing and any and all other similar rights and items (“Domain Names”); (vi) confidential and proprietary information, including without limitation, trade secrets, know-how, formulae,
ideas, concepts, discoveries, innovations, improvements, results, reports, information and data, research, laboratory and programmer notebooks, methods, procedures, proprietary technology, operating and maintenance manuals, engineering and other
drawings and sketches, customer lists, supplier lists, pricing information, cost information, business manufacturing and production, processes, techniques, designs, specifications, and blueprints (collectively, “Trade Secrets”);
(vii) all other intellectual property and proprietary rights in any form or medium known or later devised; and (viii) all copies and tangible embodiments, goodwill, rights of priority and protection of interests therein, and rights to recover
for past, present and future infringement associated with any of the foregoing. 
 (ttt) “Interim DIP Financing Order” means
the Interim Order (A) Authorizing the Debtors to Obtain Postpetition Financing, (B) Authorizing the Debtors to Use Cash Collateral, (C) Granting Liens and Superpriority Administrative
Expense Claims, (D) Granting Adequate Protection to the Prepetition Lender, and (E) Modifying the Automatic Stay, and (F) Granting Related Relief [D.I. 83], entered by the Bankruptcy Court
on July 1, 2022. 

  
 42 

 (uuu) “IP Licenses” means all Contracts pursuant to which Sellers have
(i) acquired rights in (including usage rights) or to any Intellectual Property of a third-party; or (ii) licensed, granted or transferred the right to use any Sellers-Owned Intellectual Property to any Person. 

(vvv) “IRS” means the United States Internal Revenue Service. 

(www) “Johnson Note” means that certain Amended and Restated Promissory Note dated as of the date hereof, payable by Enjoy to
the order of Ron Johnson, as may be amended, restated or otherwise modified from time to time only as expressly permitted pursuant to this Agreement. 

(xxx) “Key Employee Agreements” means those certain offer letters, retention, employment and/or consulting agreements entered
into prior to the date hereof by and between Buyer, on the one hand, and each Key Employee, on the other hand. 
 (yyy) “Key
Employees” means the Persons listed on Section 12.16(yyy) of the Disclosure Schedule. 
 (zzz)
“Knowledge of Sellers” means the actual knowledge of Ron Johnson, Anil Gandham, Kunal Malik and Tiffany Meriweather, each after due inquiry. 

(aaaa) “Law” means any constitution, treaty, statute, law, principle of common law, ordinance, rule or regulation of any
Governmental Entity. 
 (bbbb) “Lease” means all leases of real property or personal property. 

(cccc) “Leased Real Properties” has the meaning set forth in Section 6.5(b). 

(dddd) “Legal Proceeding” means any action, arbitration, audit, hearing, investigation, litigation or suit (whether civil,
criminal, administrative, investigative or informal) commenced, brought, conducted or heard by or before, or otherwise involving, any Governmental Entity or arbitrator. 

(eeee) “Liability” means any liability, debt, guarantee, claim, demand, expense, commitment or obligation (whether direct or
indirect, absolute or contingent, accrued or unaccrued, liquidated or unliquidated, or due or to become due) of every kind and description, including all costs and expenses related thereto. 

(ffff) “Licensed Intellectual Property” has the meaning set forth in Section 6.12(f)(ix). 

(gggg) “Lien” means any mortgage, lien, claim, pledge, charge, security interest or encumbrance of any kind. 

(hhhh) “Material Adverse Effect” means any event or change or circumstance, in respect of the operation of the Business and
Transferred Assets that, individually or when aggregated with any one or more of the other such changes, events or circumstances, has had or could reasonably be expected to have a material adverse effect on (i) the Transferred Assets or the
Business, or (ii) the ability of Buyer to own or use the Transferred Assets or operate the Business after the Closing; provided, however, that none of the following events, changes or circumstances (individually or when aggregated
with any one or more of the other such changes, events or circumstances) shall be deemed to be or constitute a Material Adverse Effect, and none of the following changes, events or circumstances (individually or when aggregated with any one or more
of the other such changes, events or circumstances) shall be taken into account when determining whether a Material Adverse Effect has occurred: (A) war, acts of nature, general strike, acts of 

  
 43 

 
terror, (B) general economic, market or political changes or conditions, (C) events, changes or circumstances which generally affect the industries in which Sellers conduct business
(unless such changes or conditions have a disproportionate impact on Sellers relative to other Persons operating in such industries), (D) changes in Laws, unless such Laws or conditions apply solely or principally to the Business or Sellers, or
(E) actions or omissions taken or not taken by or on behalf of Sellers pursuant in compliance with a specific request from or consented to in writing by Buyer following the execution of this Agreement, or in compliance with an order from the
Bankruptcy Court. 
 (iiii) “Material Customer” means AT&T Mobility II, LLC (and its affiliates). 

(jjjj) “Material Suppliers” means the top 10 vendors and suppliers of goods and services to Sellers (other than legal and
accounting services) based on accrued expenses with respect to such Persons over the 12-month period ended on December 31, 2021 and accrued expenses with respect to such Persons over the 6-month period ended on June 30, 2022. 
 (kkkk)
“Non-Breaching Party” has the meaning set forth in Section 11.1. 

(llll) “Ordinary Course of Business” means the ordinary and usual course of normal day-to-day operations of Sellers’ business, as conducted by Sellers consistent with past custom and practice (including with respect to quantity and frequency) prior to the date of the commencement of
the Voluntary Bankruptcy Cases; provided, that in no event shall “Ordinary Course of Business” include any breach of Law or Contract, or violation of any Permit. 

(mmmm) “Outside Date” means August 29, 2022. 

(nnnn) “Patent” has the meaning set forth in Section 12.16(sss). 

(oooo) “Permit” means any license, permit, franchise, approval, authorization, registration, certification, accreditation and
consent of any Governmental Entity. 
 (pppp) “Person” means an individual, a corporation, a partnership, a limited
liability company, an association, a trust or any other entity or organization, including a Governmental Entity. 
 (qqqq) “Personal
Data” means any information processed, collected, created or otherwise used or disclosed by Sellers in connection with the Business (or any third party on behalf of Sellers) that relating to an identifiable natural person, including,
without limitation: (a) a natural person’s first and last name, in combination with a (i) social security number or tax identification number, (ii) credit card number, bank account information and other financial account
information, or financial customer or account numbers, account access codes and passwords, or (iii) health information; and (b) any information pertaining to an individual that is regulated or protected by one or more laws, ordinances,
rules, regulations, orders, or directives. 
 (rrrr) “Physical Inventory” has the meaning set forth in
Section 8.14. 
 (ssss) “Pre-Closing Compensation and Benefits
Liabilities” has the meaning set forth in Section 8.7(b). 
 (tttt) “Privacy and Security
Requirements” has the meaning set forth in Section 6.12(g). 
 (uuuu) “Privacy Policies”
has the meaning set forth in Section 6.12(g). 

  
 44 

 (vvvv) “Purchase Price” has the meaning set forth in
Section 4.1. 
 (wwww) “Qualified Bid” has the meaning set forth in the Bidding Procedures. 

(xxxx) “Registered Intellectual Property” has the meaning set forth in Section 6.12(a). 

(yyyy) “Release” and “Removal” as used herein shall have the same meaning and definition as set forth in
paragraphs (22) and (23), respectively, of Title 42 U.S.C. Section 9601 and any applicable Environmental Law. 
 (zzzz)
“Required Consents” has the meaning set forth in Section 1.2(c). 
 (aaaaa) “Sale
Hearing” has the meaning set forth in the Bidding Procedures. 
 (bbbbb) “Sale Motion” means the motion to be filed
with the Bankruptcy Court by Sellers in accordance with Section 2.2 seeking (i) approval of the terms and conditions of the Transaction Documents, and (ii) authorization for (A) the sale of the Transferred
Assets and pursuant to Section 363 of the Bankruptcy Code and (B) the assumption and assignment of the Assumed Contracts pursuant to Section 365 of the Bankruptcy Code, free and clear of all Liens. 

(ccccc) “Sale Order” means an order of the Bankruptcy Court in a form acceptable to Buyer in its sole and absolute
discretion), which shall, among other things, comply with Section 2.3(a). 
 (ddddd) “SEC” means
the U.S. Securities and Exchange Commission. 
 (eeeee) “Securities Act” means the Securities Act of 1933, as amended. 

(fffff) “Seller Released Claims” has the meaning set forth in Section 12.15(a). 

(ggggg) “Seller Releasing Person” and “Seller Releasing Persons” has the meaning set forth in
Section 12.15(a). 
 (hhhhh) “Seller Retained Employees” has the meaning set forth in
Section 8.8. 
 (iiiii) “Seller SEC Reports” means all required registration statements,
prospectuses, reports, schedules, forms, statements and other documents required to be filed by Sellers under the Securities Act or the Exchange Act with the SEC since December 31, 2021, including all exhibits to the foregoing. 

(jjjjj) “Sellers” has the meaning set forth in the preamble. 

(kkkkk) “Sellers Intellectual Property” means all Intellectual Property used or held for use by Sellers in connection with the
Business as currently conducted, including all Sellers-Owned Intellectual Property and Licensed Intellectual Property. 
 (lllll)
“Sellers-Owned Intellectual Property” means any and all Intellectual Property that is owned or purported to be owned by or proprietary to Sellers, including without limitation all (i) Registered Intellectual Property; and
(ii) Sellers-Owned Software. 
 (mmmmm) “Sellers-Owned Software” means all proprietary Software owned or developed by
or on behalf of Sellers. 

  
 45 

 (nnnnn) “Software” has the meaning set forth in
Section 12.16(sss). 
 (ooooo) “Subject Leases” means the oral or written Leases and other rights
to occupancy, including month-to-month tenancies, pursuant to which the applicable Sellers occupy the Subject Properties. 

(ppppp) “Subject Properties” has the meaning set forth in Section 8.13. 

(qqqqq) “Subject Property Obligation” has the meaning set forth in Section 8.13. 

(rrrrr) “Subsidiary” of any Person means any corporation or other form of legal entity an amount of the outstanding voting
securities of which sufficient to elect at least a majority of its board of directors or other governing body (or, if there are not such voting securities, 50% or more of the equity interests of which) is owned or controlled, directly or indirectly,
by such Person. 
 (sssss) “Tangible Personal Property” has the meaning set forth in
Section 1.1(a)(ii). 
 (ttttt) “Tax” means (i) all federal, state, local, foreign or other
taxes of any kind and any similar fees, assessments or charges (together with any and all interest, penalties and additions to tax imposed with respect thereto) imposed by any tax authority, including taxes or other charges on or with respect to
income, franchises, windfall or other profits, gross receipts, severance, excise, property, sales, use, capital stock, payroll, employment, social security, workers’ compensation, unemployment compensation, unclaimed property, escheatment or
net worth, and taxes or other charges in the nature of excise, withholding, ad valorem or value added; and (ii) any Liability for the payment of amounts described in clause (i) as a result of being a successor, a transferee or a member of
an affiliated, consolidated, combined or unitary group, or as a result of any obligation under any Tax sharing, indemnity or similar agreement or other Contract or arrangement. 

(uuuuu) “Tax Return” means any return, declaration, report, estimate, claim for refund, or information return or statement or
other document relating to, or required to be filed in connection with, any Taxes, including any schedule, form, attachment thereto or amendment thereof. 

(vvvvv) “Third-Party Sale” has the meaning set forth in Section 2.5. 

(wwwww) “Trade Secrets” has the meaning set forth in Section 12.16(sss). 

(xxxxx) “Trademark Assignment Agreement” has the meaning set forth in Section 3.1. 

(yyyyy) “Trademarks” has the meaning set forth in Section 12.16(sss). 

(zzzzz) “Transaction” has the meaning set forth in the recitals. 

(aaaaaa) “Transaction Documents” means this Agreement and all other agreements, documents and instruments executed in
connection herewith or required to be executed and/or delivered by Sellers in accordance with the provisions of this Agreement. 
 (bbbbbb)
“Transfer Taxes” has the meaning set forth in Section 1.1(d)(i). 
 (cccccc) “Transferred
Assets” has the meaning set forth in Section 1.1(a). 
 (dddddd) “Transferred Bank
Accounts” has the meaning set forth in Section 1.1(a)(xi). 

  
 46 

 (eeeeee) “Transferred Employees” has the meaning set forth in
Section 8.7(a). 
 (ffffff) “Transition Period” has the meaning set forth in
Section 8.8. 
 (gggggg) “Transferred Leased Properties” means all Leased Real Properties subject
to Leases included in the Assumed Contracts. 
 (hhhhhh) “Underground Storage Tank” means any one or combination of tanks,
including appurtenant pipes, lines, fixtures and other related equipment, used to contain an accumulation of Hazardous Substances, the volume of which, including the volume of the appurtenant pipes, lines, fixtures and other related equipment, is
10% or more below the ground. 
 (iiiiii) “Voluntary Bankruptcy Cases” has the meaning set forth in the recitals. 

(jjjjjj) “WARN Act” means the federal Worker Adjustment and Retraining Notification Act of 1988, and similar state, local, and
foreign Law relating to plant closings, relocations, mass layoffs, and employment losses. 
 (kkkkkk) “Websites” has the
meaning set forth in Section 1.1(a)(v). 
 [The next page is the signature page.] 

  
 47 

 IN WITNESS WHEREOF, the parties hereto have caused their respective authorized
officers to duly execute this Asset Purchase Agreement as of the day and year first written above. 
  

			
	ASURION, LLC
		
	By:	 	 /s Roger Anthony Detter

	Name:	 	Roger Anthony Detter
	Title:	 	Chief Executive Officer

 [Signature page to Asset Purchase Agreement] 

 
			
	ENJOY TECHNOLOGY, INC.
		
	By:	 	 /s/ Ron Johnson

	Name:	 	Ron Johnson
	Title:	 	Chief Executive Officer
	
	ENJOY TECHNOLOGY OPERATING CORP.
		
	By:	 	 /s/ Ron Johnson

	Name:	 	Ron Johnson
	Title:	 	Chief Executive Officer
	
	ENJOY TECHNOLOGY LLC
		
	By:	 	 /s/ Ron Johnson

	Name:	 	Ron Johnson
	Title:	 	Chief Executive Officer

 [Signature page to Asset Purchase Agreement] 

 EXHIBIT A 

FORM OF BILL OF SALE 
 [See
Attached] 
  

 BILL OF SALE, ASSIGNMENT AND ASSUMPTION AGREEMENT1 
 This Bill of Sale, Assignment and Assumption Agreement (this “Bill of
Sale”) is executed and entered into as of [•], 2022, by and between [•] (“Assignee”), Enjoy Technology, Inc., a Delaware corporation, and the subsidiaries of Enjoy Technology, Inc. identified
on the signature pages hereto (collectively, “Assignors”) pursuant to that certain Asset Purchase Agreement, dated as of July [•], 2022, by and between [Assignee] and Assignors (the “Purchase Agreement”). 

1. Defined Terms. Except as otherwise provided herein, capitalized terms used but not defined herein shall have the meanings set forth
in the Purchase Agreement. 
 2. [Transfer of Assets. For the consideration set forth in the Purchase Agreement and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignors do hereby sell, transfer, convey, assign and deliver to Assignee, its successors and assigns, forever, and Assignee does hereby purchase, acquire and
take assignment and delivery from Assignors, effective as of the date hereof, all of Assignors’ rights, title and interest in, to and under the Transferred Assets, other than the Assumed Contracts.] 

3. Assignment of Rights; Assumption. Subject to the terms and conditions set forth in the Purchase Agreement, as of the date
hereof, (a) Assignors hereby irrevocably sell, transfer, convey, assign and deliver to Assignee all of Assignors’ rights, title and interest in, to and under the Assumed Contracts [(other than the Assumed Contracts specified on Exhibit
A attached hereto)], free and clear of all Liens, and (b) Assignee hereby (i) purchases, acquires and takes assignment and delivery from Assignors of all of Assignors’ rights, title and interest in, to and under the Assumed
Contracts set forth in clause (a) above, (ii) assumes and shall thereafter pay, discharge and perform in accordance with their terms all Liabilities of Assignors to the extent first arising and accruing (and relating to periods) after the
Closing under the Assumed Contracts which relate to periods of time on or after the Closing Date (other than Excluded Liabilities). Notwithstanding anything herein to the contrary, and for the avoidance of doubt, Assignee does not hereby assume, and
shall not be bound by or be obligated or responsible for, any Excluded Liabilities. 
 4. Appointment. Assignors hereby appoint
Assignee and its successors and assigns as Assignors’ true and lawful attorneys as of the date of this Agreement, with full power of substitution by, on behalf of, and for the benefit of Assignee and its successors and assigns, to enforce any
claim or right hereby sold, transferred, conveyed, assigned and delivered pursuant to the terms of this Agreement. The foregoing powers are coupled with an interest and shall be irrevocable by Assignors for any reason whatsoever. 

5. Further Assurances; Successors and Assigns. Assignors do hereby covenant and agree that they will execute and deliver such other
instruments of conveyance and transfer or other instruments and documents, and take or arrange for such other actions, as may be reasonably required to effectively transfer to, and vest in, Assignee, its successors and permitted assigns all of
Assignors’ rights, title and interest in, to and under the Transferred Assets described herein. This instrument shall be binding on Assignors and their respective successors and permitted assigns, and the covenants and agreements of the
Assignors set forth herein shall inure to the benefit of Assignee and its successors and permitted assigns. 
  

	1 	 Note to Draft: To be updated, as requested by Buyer, to
reflect allocation of Transferred Assets among Buyer and itsdesignee(s), as applicable, including with respect to Assumed Contracts. 

  
 1 

 6. Conflict with Purchase Agreement. The terms of this Bill of Sale are subject to
the terms, provisions, conditions and limitations set forth in the Purchase Agreement, and this Bill of Sale is not intended to alter the obligations of the parties to the Purchase Agreement. In the event the terms of this Bill of Sale conflict with
the terms of the Purchase Agreement, the terms of the Purchase Agreement shall govern. 
 7. Severability. If any provision of this
Bill of Sale or the application thereof to any Person or circumstance shall be invalid or unenforceable to any extent, the remainder of this Bill of Sale and the application of such provision to other Persons or circumstances shall not be affected
thereby and shall be enforced to the greatest extent permitted by Law, but only as long as the continued validity, legality and enforceability of such provision or application does not (a) materially alter the terms of this Bill of Sale,
(b) diminish the benefits of this Bill of Sale or (c) increase the burdens of this Bill of Sale, for any Person. 
 8.
Amendments. No alteration, modification or change of this Bill of Sale shall be valid except by an agreement in writing executed by the parties hereto. 

9. Governing Law. This Bill of Sale and the transactions contemplated hereby shall be governed by and construed in accordance with the
Laws of the State of Delaware (without application of principles of conflicts or law). 
 10. Counterparts. This Bill of Sale may be
executed in one or more counterparts, each of which when so executed shall be an original, but all of which together shall constitute one instrument. Facsimile and/or PDF signatures shall be deemed original signatures. 

[Signature Page Follows] 
  

  
 2 

 IN WITNESS WHEREOF, Assignors and Assignee have executed this Bill of Sale as of the date
first written above. 
  

			
	ASSIGNEE:
		
	[•]	 	
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 [Signature page to Bill of Sale] 

 
			
	ASSIGNORS:
	
	ENJOY TECHNOLOGY, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	ENJOY TECHNOLOGY OPERATING CORP.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	ENJOY TECHNOLOGY LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 [Signature page to Bill of Sale] 

 EXHIBIT A 

FORM OF TRADEMARK ASSIGNMENT AGREEMENT 

[See Attached] 
  

 TRADEMARK ASSIGNMENT AGREEMENT2

 This TRADEMARK ASSIGNMENT AGREEMENT (“Trademark Assignment”), dated as of [__], 2022, is made by Enjoy Technology,
Inc., a Delaware corporation, (“Assignor”) in favor of the [Asurion Entity] (“Assignee”), the purchaser of certain assets of Assignor pursuant to an Asset Purchase Agreement, dated [__], 2022 (the
“Purchase Agreement”). Capitalized terms not defined herein shall have the meanings ascribed to them in the Purchase Agreement. 

WHEREAS, Assignor is the owner of all right, title and interest in and to the trademarks set forth on the attached Schedule 1 and the
listed registration therefor (the “Trademarks”); 
 WHEREAS, Assignor and Assignee have entered into the Purchase
Agreement, pursuant to which Assignor has agreed to assign to Assignee the Trademarks, along with the goodwill pertaining thereto and associated therewith, as the successor in interest to that portion of Assignor’s business associated with the
Trademarks; and 
 WHEREAS, Assignee desires to acquire all right, title and interest in and to Assignor’s Trademarks, along with the
goodwill pertaining thereto and associated therewith, as the successor in interest to that portion of Assignor’s business. 
 NOW,
THEREFORE, in consideration of the foregoing and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged: 

1. Assignment. Assignor hereby irrevocably conveys, transfers and assigns to Assignee, and Assignee hereby accepts, all right, title and interest in
and to the Trademarks, together with the goodwill pertaining thereto and associated therewith, and symbolized by, the Trademarks, including: 

(a) the trademarks and trademark registrations set forth on Schedule 1, including all issuances, extensions and renewals thereof; 

(b) all rights of any kind whatsoever of Assignor accruing under any of the foregoing provided by applicable law of any jurisdiction, by
international treaties and conventions and otherwise throughout the world; and 
 (c) any and all claims and causes of action with respect
to any of the foregoing, whether accruing before, on and/or after the date hereof, including all rights to and claims for damages, restitution and injunctive and other legal and equitable relief for past, present and future infringement, dilution,
misappropriation, violation, misuse, breach or default, with the right but no obligation to sue for such legal and equitable relief and to collect, or otherwise recover, any such damages. 

2. Recordation and Further Actions. Assignor hereby authorizes the Commissioner for Trademarks in the United States Patent and
Trademark Office to record and register this Trademark Assignment upon request by Assignee. Following the date hereof, upon Assignee’s reasonable request, Assignor shall take such steps and actions, and provide such cooperation and assistance
to Assignee and its successors, assigns and legal representatives, including the execution and delivery of any affidavits, declarations, oaths, exhibits, assignments, powers of attorney, or other documents, as may be necessary to effect, evidence or
perfect the assignment of the Trademark to Assignee, or any assignee or successor thereto. 
  

 

	2 	 Note to Draft: To be updated, as requested by Buyer, to reflect allocation of Intellectual Property among Buyer
and its designee(s), as applicable. 

  
 1 

 3. Terms of the Purchase Agreement. The parties hereto acknowledge and agree that
this Trademark Assignment is entered into pursuant to the Purchase Agreement, to which reference is made for a further statement of the rights and obligations of Assignor and Assignee with respect to the Trademarks. The representations, warranties,
covenants, agreements and indemnities contained in the Purchase Agreement shall not be superseded hereby but shall remain in full force and effect to the full extent provided therein. In the event of any conflict or inconsistency between the terms
of the Purchase Agreement and the terms hereof, the terms of the Purchase Agreement shall control. 
 4. Counterparts. This Trademark
Assignment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Trademark Assignment delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Trademark Assignment. 

5. Successors and Assigns. This Trademark Assignment shall be binding upon and shall inure to the benefit of the parties hereto and
their respective successors and assigns. 
 6. Governing Law. This Trademark Assignment and any claim, controversy, dispute or cause
of action (whether in contract, tort or otherwise) based upon, arising out of or relating to this Trademark Assignment and the transactions contemplated hereby shall be governed by the laws of the State of Delaware, without giving effect to any
choice or conflict of law provision or rule. 
 [SIGNATURE PAGE FOLLOWS] 

 

  
 2 

 Assignor has duly executed and delivered this Trademark Assignment as of the date first written above. 

 

			
	ENJOY TECHNOLOGY, INC.,
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 AGREED TO AND ACCEPTED: 
  

			
	[ASURION ENTITY]
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 [Signature page to Trademark Assignment Agreement] 

 STATE OF
                         ) 

COUNTY OF
                            ) 

Before me, ____________________________ of the state and county aforesaid, personally appeared ____________________________, with whom I am
personally acquainted, or proved to me on the basis of satisfactory evidence and who, upon oath, acknowledged himself to be president (or other officer authorized to execute the instrument) of Enjoy Technology, Inc., the within named bargainor, a
corporation, and that he as such ______________, executed the foregoing instrument for the purpose therein contained, by signing the name of the corporation by himself as ______________. 

Witness my hand and seal, at office in ______________, this _____ day of [__], 2022. 

 

			
		  	  

		
		  	Notary Public

 My Commission Expires: 

 
 [Signature page to
Trademark Assignment Agreement] 

 SCHEDULE 1 

TRADEMARK REGISTRATIONS AND APPLICATIONS 

[***]

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