Document:

Document

Exhibit 10.10

Samsara Inc.
June 6, 2022
Adam Eltoukhy
Samsara Inc.
350 Rhode Island Street
4th Floor, South Building
San Francisco, CA 94103
Re: Confirmatory Employment Letter
Dear Adam:
This letter agreement (the “Agreement”) is entered into between the undersigned (“you”) and Samsara Inc. (the “Company” or “we”).  This Agreement is effective as of the date you sign it (the “Effective Date”), as indicated below.  The purpose of this Agreement is to confirm the current terms and conditions of your employment.
1.Position.  Your position will continue to be Vice President, General Counsel, and you will continue to report to the Company’s Chief Financial Officer.  This is a full-time position.  You will perform the duties and have the responsibilities and authority customarily performed and held by an employee in your position or as otherwise may be assigned or delegated to you by the Company.  While you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company or that is in any way competitive with the business or proposed business of the Company, nor will you assist any other person or organization in competing with the Company or in preparing to engage in competition with the business or proposed business of the Company, except as approved by the Company’s Board of Directors (the “Board”).  By signing this Agreement, you reconfirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company.
2.Base Salary.  Your current annual base salary is $340,000, which will be payable, less applicable withholdings and deductions, in accordance with the Company’s normal payroll practices.  Your annual base salary will be subject to review and adjustment based upon the Company’s normal performance review practices.
3.Performance Bonus.  You are eligible to earn an annual cash bonus with a target value of 40% of your annual base salary, based on achieving performance objectives established by the Board or an authorized committee thereof (the “Committee”) in its sole discretion and payable upon achievement of those objectives as determined by the Committee. For fiscal 2023, your bonus, to the extent earned, will be paid in accordance with the FY23 bonus plan as adopted by the Committee, as such plan may be amended, subject to you remaining employed with the Company through the applicable payment date.  Your annual bonus opportunity will be subject to review and adjustment based upon the Company’s normal performance review practices.
4.Equity Awards.  You have been granted various equity awards by the Company.  Those equity awards shall continue to be governed in all respects by the terms of the applicable equity agreements, grant notices, and equity plans.
5.Employee Benefits. As a regular full-time employee of the Company, you will continue to be eligible to participate in Company-sponsored benefits in accordance with the terms of the Company’s policies and benefits plan.  In addition, you will receive all additional coverages and benefits provided to Company executives, including director and officer liability insurance.  With the exception of the Company’s at-will employment policy, discussed below, the Company may, from time to time, in its sole discretion, modify or eliminate its policies and/or benefits offered to employees.
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6.Severance Benefits.  You will be eligible for the Company’s Executive Change in Control and Severance Plan (the “Severance Plan”), attached hereto as Exhibit A, as of the Effective Date.  Your Participation Agreement under the Severance Plan will specify the severance payments and benefits you could be eligible to receive in connection with certain terminations of your employment with the Company.  These protections will supersede all other severance payments and benefits you would otherwise currently be eligible for, or would become eligible for in the future, under any plan, program or policy that the Company may have in effect from time to time.
7.Employee Invention Assignment and Confidentiality Agreement.  As an employee of the Company, you will continue to have access to certain confidential information of the Company and you may, during the course of your employment, develop certain information or inventions that will be the property of the Company.  To protect the interests of the Company, your acceptance of this Agreement confirms that you are subject to the terms of the Company’s Employee Invention Assignment and Confidentiality Agreement attached hereto as Exhibit B (the “Invention Assignment and Confidentiality Agreement”).
8.Arbitration Agreement.  Your acceptance of this Agreement confirms that you are subject to the terms of the Company’s Arbitration Agreement attached hereto as Exhibit C (the “Arbitration Agreement”).
9.Employment Relationship.  Employment with the Company will continue to be for no specific period of time.  Your employment with the Company will continue to be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause.  Any contrary representations that may have been made to you are superseded by this Agreement.  This is the full and complete agreement between you and the Company on this term.  Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you).
10.Governing Law; Venue.  All questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto shall be governed by and construed in accordance with the domestic laws of the State of California, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of California or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of California. Any lawsuit arising out of or in any way related to this Agreement or to the Parties’ relationship hereunder shall be brought only in those state or federal courts having jurisdiction over actions arising in San Francisco County in the State of California. 
11.Miscellaneous.  This Agreement, together with your Participation Agreement, Invention Assignment and Confidentiality Agreement, Arbitration Agreement, equity agreements, and other agreements referenced herein, constitute the entire agreement between you and the Company regarding the subject matters discussed, and they supersede all prior negotiations, representations or agreements between you and the Company.  This Agreement may only be modified by a written agreement signed by you and a duly authorized officer of the Company.
To confirm the current terms and conditions of your employment, please sign and date in the spaces indicated and return this Agreement to the Company.
						
		Sincerely,
		
		SAMSARA INC.
		
	By:	/s/ Sanjit Biswas
		Sanjit Biswas
		Chief Executive Officer

I have read and understood this Agreement and hereby acknowledge, accept and agree to the terms as set forth herein and further acknowledge that no other commitments were made to me as part of my employment offer except as specifically set forth herein.
												
	/s/ Adam Eltoukhy		
	Adam Eltoukhy	
	Date:	June 6, 2022		

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EXHIBIT A
SAMSARA INC.
EXECUTIVE CHANGE IN CONTROL AND 
SEVERANCE PLAN AND SUMMARY PLAN DESCRIPTION
1.Introduction.  The purpose of this Samsara Inc. Executive Change in Control and Severance Plan (as set forth in this document, and as hereafter amended from time to time, the “Plan”) is to provide assurances of specified benefits to certain employees of the Company whose employment could be being involuntarily terminated other than for death, Disability, or Cause or voluntarily terminated for Good Reason under the circumstances described in the Plan.  This Plan is an “employee welfare benefit plan,” as defined in Section 3(1) of ERISA.  This document is both the written instrument under which the Plan is maintained and the required summary plan description for the Plan.
This Plan will be effective as of the date it is approved by the Company’s Compensation Committee (the “Effective Date”).
2.Important Terms.  The following words and phrases, when the initial letter of the term is capitalized, will have the meanings set forth in this Section 2, unless a different meaning is plainly required by the context:
(a)“Administrator” means the Company, acting through the Compensation Committee or another duly constituted committee of members of the Board, or any person to whom the Administrator has delegated any authority or responsibility with respect to the Plan pursuant to Section 11, but only to the extent of such delegation.
(b)“Base Salary” means the Participant’s annual base salary as in effect immediately prior to the Participant’s Qualifying Termination (or if the termination is due to a resignation for Good Reason based on a material reduction in base salary, then the Participant’s annual base salary in effect immediately prior to the reduction) or, if the Participant’s Qualifying Termination is a CIC Qualifying Termination and the amount is greater, at the level in effect immediately prior to the Change in Control.
(c)“Board” means the Board of Directors of the Company.
(d)“Cause” has the meaning set forth in the Participant’s Participation Agreement or, if no definition is set forth, means the following: (i) Participant’s failure (other than due to Disability or death) to substantially perform Participant’s duties to the Company after there has been delivered to Participant a written demand for performance, the failure of which remains uncured after ten (10) business days from the date of such written demand; (ii) Participant’s conviction for, or plea of nolo contendere to, a felony or a crime involving fraud, embezzlement, or any other act of moral turpitude; (iii) Participant’s gross negligence or willful misconduct in the performance of any obligations and duties to the Company; (iv) an act of fraud against or willful misappropriation by Participant of property belonging to the Company; (v) an act of dishonesty or fraud by Participant in connection with Participant’s responsibilities as an employee, (vi) misconduct by Participant that has had or can reasonably be expected to have an adverse effect on the Company’s reputation or business; or (vii) Participant’s material breach of Participant’s employment offer letter or Employee Invention Assignment and Confidentiality Agreement, a material breach of the Company’s documented service provider policies, or any unauthorized misuse of the Company’s trade secrets or proprietary information. 
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(e)“Change in Control” means the occurrence of any of the following events:
(i)Change in Ownership of the Company.  A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company; provided, however, that for purposes of this subsection, (A) the acquisition of additional stock by any one Person, who is considered to own more than 50% of the total voting power of the stock of the Company will not be considered a Change in Control, and (B) any acquisition of additional stock by the Excluded Parties and/or his Permitted Entities (each as defined in the Company’s certificate of incorporation, as amended from time to time (the “COI”)) as a result of a Permitted Transfer (as defined in the COI) or from the Company in a transaction or issuance (including pursuant to equity awards) approved by the Board or a committee thereof, that results in such parties owning more than 50% of the total voting power of the stock of the Company will not be considered a Change in Control.  Further, if the stockholders of the Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as their ownership of shares of the Company’s voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of 50% or more of the total voting power of the stock of the Company or of the ultimate parent entity of the Company, such event will not be considered a Change in Control under this subsection (i).  For this purpose, indirect beneficial ownership will include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company, as the case may be, either directly or through one or more subsidiary corporations or other business entities.  For the avoidance of doubt, increases in the percentage of total voting power owned by the Excluded Parties and/or his Permitted Entities resulting solely from a decrease in the number of shares of stock of the Company outstanding shall not constitute an acquisition that creates a Change in Control under this subsection (i); or
(ii)Change in Effective Control of the Company.  A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any 12-month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election.  For purposes of this subsection (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or
(iii)Change in Ownership of a Substantial Portion of the Company’s Assets.  A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person) assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (3) a Person that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3).  For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.
For purposes of this definition, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.
Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a “change in control event” within the meaning of Section 409A.
Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (x) its primary purpose is to change the jurisdiction of the Company’s incorporation, or (y) its primary purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction.
(f)“Change in Control Period” means the time period beginning on the date that is 3 months prior to a Change in Control and ending on the date that is 18 months following a Change in Control.
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(g)“CIC Qualifying Termination” means a termination of a Participant’s employment with the Company (or any parent or subsidiary of the Company) within the Change in Control Period by (i) the Participant for Good Reason, or (ii) the Company (or any parent or subsidiary of the Company) for a reason other than Cause, the Participant’s death or Disability.
(h)“Code” means the Internal Revenue Code of 1986, as amended.
(i)“Company” means Samsara Inc., a Delaware corporation, and any successor that assumes the obligations of the Company under the Plan, by way of merger, acquisition, consolidation or other transaction.
(j)“Compensation Committee” means the Compensation Committee of the Board.
(k)“Director” means a member of the Board.
(l)“Disability” means “Disability” as defined in the Company’s long-term disability plan or policy then in effect with respect to that Participant, as such plan or policy may be in effect from time to time, and, if there is no such plan or policy, a total and permanent disability as defined in Code Section 22(e)(3).
(m)“Equity Awards” means a Participant’s outstanding stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units and any other Company equity compensation awards.
(n)“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.
(o)“Good Reason” has the meaning set forth in the Participant’s Participation Agreement or, if no definition is set forth, means the following: Participant’s resignation within 30 days following the expiration of any Cure Period (as defined below) following the occurrence of one or more of the following, without Participant’s consent: (i) the assignment to Participant of any duties, or the reduction of Participant’s duties, either of which results in a material diminution of Participant’s authority, duties, or responsibilities with the Company in effect immediately prior to such assignment, or the removal of Participant from such position and responsibilities; provided, however, that a reduction in duties, position or responsibilities solely by virtue of the Company being acquired and made part of a larger entity, whether as a subsidiary, business unit or otherwise (as, for example, when the Chief Executive Officer of the Company remains the Chief Executive Officer of the Company following a change in control where the Company becomes a wholly owned subsidiary of the acquiror, but is not made the Chief Executive Officer of the acquiring corporation) will not constitute “Good Reason”; (ii) a material reduction of Participant’s Base Salary (in other words, a reduction of more than 10% of Participant’s then current annual salary (other than (x) in connection with a general decrease in the Base Salary of all similarly situated employees of the Company or (y) following a Change in Control, to the extent necessary to make Participant’s salary commensurate with the salary of those other employees of the Company or its successor entity or parent entity who are similarly situated with Participant following such Change in Control); and (iii) the relocation of Participant to a facility or a location that is more than 50 miles from Participant’s current location). Participant will not resign for Good Reason without first providing the Company with written notice of the acts or omissions constituting the grounds for “Good Reason” within 90 days of the initial existence of the grounds for “Good Reason” and a reasonable cure period of not less than 30 days following the date of such notice (such period, the “Cure Period”).
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(p)“Non-CIC Qualifying Termination” means a termination of a Participant’s employment with the Company (or any parent or subsidiary of the Company) other than within the Change in Control Period by the Company (or any parent or subsidiary of the Company) for a reason other than Cause, the Participant’s death or Disability.
(q)“Participant” means an employee of the Company or of any subsidiary of the Company who (a) has been designated by the Administrator to participate in the Plan either by position or by name and (b) has timely and properly executed and delivered a Participation Agreement to the Company.
(r)“Participation Agreement” means the individual agreement (as will be provided in separate cover as Appendix A) provided by the Administrator to a Participant under the Plan, which has been signed and accepted by the Participant.
(s)“Qualifying Termination” means a CIC Qualifying Termination or a Non-CIC Qualifying Termination, as applicable, occurring during the Term.
(t)“Section 409A Limit” means 200% of the lesser of: (i) the Participant’s annualized compensation based upon the annual rate of pay paid to the Participant during the Participant’s taxable year preceding the Participant’s taxable year of the Participant’s termination of employment as determined under, and with such adjustments as are set forth in, Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the Participant’s employment is terminated.
(u)“Severance Benefits” means the compensation and other benefits that the Participant will be provided in the circumstances described in Section 4.
3.Eligibility for Severance Benefits.  A Participant is eligible for Severance Benefits, as described in Section 4, only if he or she experiences a Qualifying Termination.
4.Qualifying Termination.  Upon a Qualifying Termination, then, subject to the Participant’s compliance with Section 6, the Participant will be eligible to receive the following Severance Benefits as described in Participant’s Participation Agreement, subject to the terms and conditions of the Plan and the Participant’s Participation Agreement:
(a)Cash Severance Benefits.  Cash severance equal to the amount set forth in the Participant’s Participation Agreement and payable in cash at the time(s) specified the Participant’s Participation Agreement.
(b)Continued Medical Benefits.  If the Participant, and any spouse and/or dependents of the Participant (“Family Members”) has or have coverage on the date of the Participant’s Qualifying Termination under a group health plan sponsored by the Company, the Company will reimburse the Participant the total applicable premium cost for continued group health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), during the period of time following the Participant’s employment termination, as set forth in the Participant’s Participation Agreement, provided that the Participant validly elects and is eligible to continue coverage under COBRA for the Participant and his or her Family Members.  However, if the Company determines in its sole discretion that it cannot provide the COBRA reimbursement benefits without potentially violating applicable laws (including, without limitation, Section 2716 of the Public Health Service Act and the ERISA), the Company will in lieu thereof provide to the Participant a lump sum payment equal to the monthly COBRA premium (on an after-tax basis) that the Participant would be required to pay to continue the group health coverage in effect on the date of the Participant’s termination of employment (which amount will be based on the premium for the first month of COBRA coverage), multiplied by the number of months in the period of time set forth in the Participant’s Participation Agreement following the termination, which payments will be made regardless of whether the Participant elects COBRA continuation coverage.  Furthermore, for any Participant who, due to non-U.S. local law considerations, is covered by a health plan that is not subject to COBRA, the Company may (in its discretion) instead provide cash or continued coverage in a manner intended to replicate the benefits of this Section 4(b) and to comply with applicable local law considerations.
(c)Equity Award Vesting Acceleration Benefit.  Only to the extent specifically provided in the Participant’s Participation Agreement, a portion of Participant’s Equity Awards will vest and, to the extent applicable, become immediately exercisable.
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5.Limitation on Payments.  In the event that the severance and other benefits provided for in this Plan or otherwise payable to a Participant (i) constitute “parachute payments” within the meaning of Section 280G of the Code (“280G Payments”), and (ii) but for this Section 5, would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the 280G Payments will be either:
(i)(x) delivered in full, or
(ii)(y) delivered as to such lesser extent which would result in no portion of such benefits being subject to the Excise Tax, 
(iii)whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by Participant on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code.  If a reduction in the 280G Payments is necessary so that no portion of such benefits are subject to the Excise Tax, reduction will occur in the following order: (i) cancellation of equity awards granted “contingent on a change in ownership or control” (within the meaning of Code Section 280G); (ii) a pro rata reduction of (A) cash payments that are subject to Section 409A as deferred compensation and (B) cash payments not subject to Section 409A; (iii) a pro rata reduction of (A) employee benefits that are subject to Section 409A as deferred compensation and (B) employee benefits not subject to Section 409A; and (iv) a pro rata cancellation of (A) accelerated vesting of equity awards that are subject to Section 409A as deferred compensation and (B) equity awards not subject to Section 409A.  In the event that acceleration of vesting of equity awards is to be cancelled, such acceleration of vesting will be cancelled in the reverse order of the date of grant of a Participant’s equity awards.
A nationally recognized professional services firm selected by the Company, the Company’s legal counsel or such other person or entity to which the parties mutually agree (the “Firm”) will make any determination required under this Section 5.  Such determinations will be made in writing by the Firm and any good faith determinations of the Firm will be conclusive and binding upon Participant and the Company.  For purposes of making the calculations required by this Section 5, the Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code.  Participant and the Company will furnish to the Firm such information and documents as the Firm may reasonably request in order to make a determination under this Section 5.  The Company will bear all costs the Firm may incur in connection with any calculations contemplated by this Section 5.
6.Conditions to Receipt of Severance.
(a)Release Agreement.  As a condition to receiving the Severance Benefits, each Participant will be required to sign and not revoke a separation and release of claims agreement in a form reasonably satisfactory to the Company (the “Release”).  In all cases, the Release must become effective and irrevocable no later than the 60th day following the Participant’s Qualifying Termination (the “Release Deadline Date”).  If the Release does not become effective and irrevocable by the Release Deadline Date, the Participant will forfeit any right to the Severance Benefits.  In no event will the Severance Benefits be paid or provided until the Release becomes effective and irrevocable.
(b)Confidential Information.  A Participant’s receipt of Severance Benefits will be subject to the Participant continuing to comply with the terms of any confidentiality, proprietary information and inventions agreement between the Participant and the Company (a “Confidential Information Agreement”).
(c)Non-Disparagement.  As a condition to receiving Severance Benefits under this Plan, the Participant agrees that following the Participant’s termination, the Participant will not knowingly and materially disparage, libel, slander, or otherwise make any materially derogatory statements regarding the Company or any of its officers or directors.  Notwithstanding the foregoing, nothing contained in the Plan will be deemed to restrict the Participant from providing information to any governmental or regulatory agency or body (or in any way limit the content of any such information) to the extent the Participant is required to provide such information pursuant a subpoena or as otherwise required by applicable law or regulation, or in accordance with any governmental investigation or audit relating to the Company.
(d)Other Requirements.  Severance Benefits under this Plan shall terminate immediately for a Participant if such Participant, at any time, violates any Confidential Information Agreement and/or the provisions of the Plan (including this Section 6).
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7.Timing of Severance Benefits.  Unless otherwise provided in a Participant’s Participation Agreement, provided that the Release becomes effective and irrevocable by the Release Deadline Date and subject to Section 9, the Severance Benefits will be paid, or in the case of installments, will commence, on the first Company payroll date following the Release Deadline Date (such payment date, the “Severance Start Date”), and any Severance Benefits otherwise payable to the Participant during the period immediately following the Participant’s termination of employment with the Company through the Severance Start Date will be paid in a lump sum to the Participant on the Severance Start Date, with any remaining payments to be made as provided in this Plan and the Participant’s Participation Agreement.
8.Exclusive Benefit.  Except as otherwise specifically provided in Appendix A, the Severance Benefits shall be the exclusive benefit for a Participant related to termination of employment with the Company (or any parent or subsidiary).
9.Section 409A.
(a)Notwithstanding anything to the contrary in this Plan, no Severance Benefits to be paid or provided to a Participant, if any, under this Plan that, when considered together with any other severance payments or separation benefits, are considered deferred compensation under Section 409A of the Code, and the final regulations and any guidance promulgated thereunder (“Section 409A”) (together, the “Deferred Payments”) will be paid or provided until the Participant has a “separation from service” within the meaning of Section 409A.  Similarly, no Severance Benefits payable to a Participant, if any, under this Plan that otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until the Participant has a “separation from service” within the meaning of Section 409A.
(b)It is intended that none of the Severance Benefits will constitute Deferred Payments but rather will be exempt from Section 409A as a payment that would fall within the “short-term deferral period” as described in Section 9(d) below or resulting from an involuntary separation from service as described in Section 9(e) below.  In no event will a Participant have discretion to determine the taxable year of payment of any Deferred Payment.
(c)Notwithstanding anything to the contrary in this Plan, if a Participant is a “specified employee” within the meaning of Section 409A at the time of the Participant’s separation from service (other than due to death), then the Deferred Payments, if any, that are payable within the first 6 months following the Participant’s separation from service, will become payable on the date 6 months and 1 day following the date of the Participant’s separation from service.  All subsequent Deferred Payments, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit.  Notwithstanding anything herein to the contrary, in the event of the Participant’s death following the Participant’s separation from service, but before the 6 month anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of the Participant’s death and all other Deferred Payments will be payable in accordance with the payment schedule applicable to each payment or benefit.  Each payment and benefit payable under this Plan is intended to constitute a separate payment under Section 1.409A-2(b)(2) of the Treasury Regulations.
(d)Any amount paid under this Plan that satisfies the requirements of the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Payments for purposes of this Section 9.
(e)Any amount paid under this Plan that qualifies as a payment made as a result of an involuntary separation from service pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit will not constitute Deferred Payments for purposes of this Section 9.
(f)The foregoing provisions are intended to comply with or be exempt from the requirements of Section 409A so that none of the Severance Benefits will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply or be exempt.  Notwithstanding anything to the contrary in the Plan, including but not limited to Sections 11 and 14, the Company reserves the right to amend the Plan as it deems necessary or advisable, in its sole discretion and without the consent of the Participants, to comply with Section 409A or to avoid income recognition under Section 409A prior to the actual payment of Severance Benefits or imposition of any additional tax.  In no event will the Company reimburse a Participant for any taxes or other costs that may be imposed on the Participant as result of Section 409A.
10.Withholdings.  The Company will withhold from any Severance Benefits all applicable U.S. federal, state, local and non-U.S. taxes required to be withheld and any other required payroll deductions.
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11.Administration.  The Company is the administrator of the Plan (within the meaning of section 3(16)(A) of ERISA).  The Plan will be administered and interpreted by the Administrator (in his or her sole discretion).  The Administrator is the “named fiduciary” of the Plan for purposes of ERISA and will be subject to the fiduciary standards of ERISA when acting in such capacity.  Any decision made or other action taken by the Administrator with respect to the Plan, and any interpretation by the Administrator of any term or condition of the Plan, or any related document, will be conclusive and binding on all persons and be given the maximum possible deference allowed by law.  In accordance with Section 2(a), the Administrator (a) may, in its sole discretion and on such terms and conditions as it may provide, delegate in writing to one or more officers of the Company all or any portion of its authority or responsibility with respect to the Plan, and (b) has the authority to act for the Company (in a non-fiduciary capacity) as to any matter pertaining to the Plan; provided, however, that any Plan amendment or termination or any other action that reasonably could be expected to increase materially the cost of the Plan must be approved by the Board.
12.Eligibility to Participate.  To the extent that the Administrator has delegated administrative authority or responsibility to one or more officers of the Company in accordance with Sections 2(a) and 11, each such officer will not be excluded from participating in the Plan if otherwise eligible, but he or she is not entitled to act upon or make determinations regarding any matters pertaining specifically to his or her own benefit or eligibility under the Plan.  The Administrator will act upon and make determinations regarding any matters pertaining specifically to the benefit or eligibility of each such officer under the Plan.
13.Term. Subject to the terms of this paragraph, this Plan will have a term of 3 years commencing on the Effective Date (the “Term”) unless the Administrator decides to sooner terminate this Plan in accordance with Section 14 below or the affected Participant consents to an earlier termination. Neither the lapse of this Plan by its terms nor the termination of this Plan by the Company will by itself constitute termination of employment or grounds for “Good Reason” in accordance with the definition herein. Further, if a Change in Control occurs when there are fewer than 3 months remaining during the Term, the Term will extend automatically through the date that is 18 months following the date of the Change in Control (unless the affected Participant consents to an earlier termination). Notwithstanding the foregoing, if during the Term, an initial occurrence of an act or omission by the Company constituting grounds for “Good Reason” in accordance with the definition herein has occurred (the “Initial Grounds”), and the expiration date of the Cure Period (as such defined herein) with respect to such Initial Grounds could occur following the expiration of the Term, the Term will extend automatically through the date that is 30 days following the expiration of the Cure Period, but such extension of the Term will only apply with respect to the Initial Grounds. 
14.Amendment or Termination.  The Company, by action of the Administrator, reserves the right to amend or terminate the Plan at any time, without advance notice to any Participant and without regard to the effect of the amendment or termination on any Participant or on any other individual; provided, however, that any amendment or termination of the Plan that is materially detrimental to a Participant prior to such amendment or termination of the Plan will not be effective with respect to such Participant without such Participant’s prior written consent.  Any amendment or termination of the Plan will be in writing, and any termination of this Plan by the Administrator will be taken in a non-fiduciary capacity.  Notwithstanding the foregoing, any amendment to the Plan that (a) causes an individual to cease to be a Participant, or (b) reduces or alters to the detriment of the Participant the Severance Benefits potentially payable to that Participant (including, without limitation, imposing additional conditions or modifying the timing of payment), will not be effective without that Participant’s written consent.  Any action of the Company in amending or terminating the Plan will be taken in a non-fiduciary capacity.
15.Claims and Appeals.
(a)Claims Procedure.  Any employee or other person who believes he or she is entitled to any Severance Benefits may submit a claim in writing to the Administrator within 90 days of the earlier of (i) the date the claimant learned the amount of his or her Severance Benefits or (ii) the date the claimant learned that he or she will not be entitled to any Severance Benefits.  If the claim is denied (in full or in part), the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of the Plan on which the denial is based.  The notice also will describe any additional information needed to support the claim and the Plan’s procedures for appealing the denial.  The denial notice will be provided within 90 days after the claim is received.  If special circumstances require an extension of time (up to 90 days), written notice of the extension will be given within the initial 90-day period.  This notice of extension will indicate the special circumstances requiring the extension of time and the date by which the Administrator expects to render its decision on the claim.
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(b)Appeal Procedure.  If the claimant’s claim is denied, the claimant (or his or her authorized representative) may apply in writing to the Administrator for a review of the decision denying the claim.  Review must be requested within 60 days following the date the claimant received the written notice of their claim denial or else the claimant loses the right to review.  The claimant (or representative) then has the right to review and obtain copies of all documents and other information relevant to the claim, upon request and at no charge, and to submit issues and comments in writing.  The Administrator will provide written notice of its decision on review within 60 days after it receives a review request.  If additional time (up to 60 days) is needed to review the request, the claimant (or representative) will be given written notice of the reason for the delay.  This notice of extension will indicate the special circumstances requiring the extension of time and the date by which the Administrator expects to render its decision.  If the claim is denied (in full or in part), the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of the Plan on which the denial is based.  The notice also will include a statement that the claimant will be provided, upon request and free of charge, reasonable access to, and copies of, all documents and other information relevant to the claim and a statement regarding the claimant’s right to bring an action under Section 502(a) of ERISA.
16.Attorneys’ Fees.  The parties shall each bear their own expenses, legal fees and other fees incurred in connection with this Plan.
17.Source of Payments.  All payments under the Plan will be paid from the general funds of the Company; no separate fund will be established under the Plan, and the Plan will have no assets.  No right of any person to receive any payment under the Plan will be any greater than the right of any other general unsecured creditor of the Company.
18.Inalienability.  In no event may any current or former employee of the Company or any of its subsidiaries or affiliates sell, transfer, anticipate, assign or otherwise dispose of any right or interest under the Plan.  At no time will any such right or interest be subject to the claims of creditors nor liable to attachment, execution or other legal process.
19.No Enlargement of Employment Rights.  Neither the establishment or maintenance or amendment of the Plan, nor the making of any benefit payment hereunder, will be construed to confer upon any individual any right to continue to be an employee of the Company.  The Company expressly reserves the right to discharge any of its employees at any time, with or without cause.  However, as described in the Plan, a Participant may be entitled to Severance Benefits depending upon the circumstances of his or her termination of employment.
20.Successors.  Any successor to the Company of all or substantially all of the Company’s business and/or assets (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or other transaction) will assume the obligations under the Plan and agree expressly to perform the obligations under the Plan in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession.  For all purposes under the Plan, the term “Company” will include any successor to the Company’s business and/or assets which become bound by the terms of the Plan by operation of law, or otherwise.
21.Applicable Law.  The provisions of the Plan will be construed, administered and enforced in accordance with ERISA and, to the extent applicable, the internal substantive laws of the state of California (but not its conflict of laws provisions).
22.Severability.  If any provision of the Plan is held invalid or unenforceable, its invalidity or unenforceability will not affect any other provision of the Plan, and the Plan will be construed and enforced as if such provision had not been included.
23.Headings.  Headings in this Plan document are for purposes of reference only and will not limit or otherwise affect the meaning hereof.
24.Indemnification.  The Company hereby agrees to indemnify and hold harmless the officers and employees of the Company, and the members of its Board, from all losses, claims, costs or other liabilities arising from their acts or omissions in connection with the administration, amendment or termination of the Plan, to the maximum extent permitted by applicable law.  This indemnity will cover all such liabilities, including judgments, settlements and costs of defense.  The Company will provide this indemnity from its own funds to the extent that insurance does not cover such liabilities.  This indemnity is in addition to and not in lieu of any other indemnity provided to such person by the Company.
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25.Additional Information.
Plan Name:    Samsara Inc. Executive Change in Control and Severance Plan
Plan Sponsor:     Samsara Inc.
350 Rhode Island Street, 4th Floor, South Building, San Francisco, CA 94103
(415) 985-2400
Identification Numbers:    EIN: 47-3100039
Plan:
Plan Year:    Company’s fiscal year
Plan Administrator:    Samsara Inc.
Attention: Administrator of the Samsara Inc. Executive Change in Control and Severance Plan
350 Rhode Island Street, 4th Floor, South Building, San Francisco, CA 94103
(415) 985-2400
Agent for Service of    Samsara Inc.
Legal Process:    Attention:  General Counsel
350 Rhode Island Street, 4th Floor, South Building, San Francisco, CA 94103
(415) 985-2400
Service of process also may be made upon the Administrator.
Type of Plan:    Severance Plan/Employee Welfare Benefit Plan
Plan Costs:    The cost of the Plan is paid by the Company.
26.Statement of ERISA Rights.
As a Participant under the Plan, you have certain rights and protections under ERISA:
(i)You may examine (without charge) all Plan documents, including any amendments and copies of all documents filed with the U.S. Department of Labor.  These documents are available for your review in the Company’s human resources department.
(ii)You may obtain copies of all Plan documents and other Plan information upon written request to the Administrator.  A reasonable charge may be made for such copies.
In addition to creating rights for Participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan.  The people who operate the Plan (called “fiduciaries”) have a duty to do so prudently and in the interests of you and the other Participants.  No one, including the Company or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a benefit under the Plan or exercising your rights under ERISA.  If your claim for a severance benefit is denied, in whole or in part, you must receive a written explanation of the reason for the denial.  You have the right to have the denial of your claim reviewed.  (The claim review procedure is explained in Section 15 above.)
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Under ERISA, there are steps you can take to enforce the above rights.  For example, if you request materials and do not receive them within 30 days, you may file suit in a federal court.  In such a case, the court may require the Administrator to provide the materials and to pay you up to $110 a day until you receive the materials, unless the materials were not sent due to reasons beyond the control of the Administrator.  If you have a claim which is denied or ignored, in whole or in part, you may file suit in a federal court.  If it should happen that you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court.
In any case, the court will decide who will pay court costs and legal fees.  If you are successful, the court may order the person you have sued to pay these costs and fees.  If you lose, the court may order you to pay these costs and fees, for example, if it finds that your claim is frivolous.
If you have any questions regarding the Plan, please contact the Administrator.  If you have any questions about this statement or about your rights under ERISA, you may contact the nearest area office of the Employee Benefits Security Administration (formerly the Pension and Welfare Benefits Administration), U.S. Department of Labor, listed in your telephone directory, or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W. Washington, D.C. 20210.  You also may obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.
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Exhibit A | Appendix A
Samsara Inc. Executive Change in Control and Severance Plan Participation Agreement
Samsara Inc. (the “Company”) is pleased to inform you, the undersigned, that you have been selected to participate in the Company’s Executive Change in Control and Severance Plan (the “Plan”) as a Participant.
A copy of the Plan was delivered to you with this Participation Agreement.  Your participation in the Plan is subject to all of the terms and conditions of the Plan.  The capitalized terms used but not defined herein will have the meanings ascribed to them in the Plan.
The Plan describes in detail certain circumstances under which you may become eligible for Severance Benefits.  As described more fully in the Plan, you may become eligible for certain Severance Benefits if you experience a Qualifying Termination.
1.Non-CIC Qualifying Termination.  Upon your Non-CIC Qualifying Termination, subject to the terms and conditions of the Plan, you will receive:
(a)Cash Severance Benefits.  A lump-sum payment equal to (i) 25% of your Base Salary (less applicable withholding taxes), plus (ii) 25% of your target annual bonus as in effect for the fiscal year in which your Non-CIC Qualifying Termination occurs (the “Target Bonus”) (less applicable withholding taxes), which will be paid on the Severance Start Date.
(b)Continued Medical Benefits.  Reimbursement of continued health coverage under COBRA or a taxable lump sum payment in lieu of reimbursement, as applicable, and as described in Section 4(b) of the Plan will be provided for a period of 3 months following the date of your Qualifying Termination.
(c)Equity Vesting Acceleration.  Satisfaction of the time and service-based vesting requirements under your then-outstanding and unvested Equity Awards (but without waiver of any cliff service vesting date) as if you had continued employment with the Company for 3 months after the date of your Qualifying Termination.
2.[Reserved.]
3.[Reserved.]
4.Exclusive Benefit.  In accordance with Section 8 of the Plan, the benefits, if any, provided under this Plan will be the exclusive benefits for a Participant related to his or her termination of employment with the Company and/or a change in control of the Company and will supersede and replace any severance and/or change in control benefits set forth in any offer letter, employment or severance agreement and/or other agreement between the Participant and the Company, including any equity award agreement.  For the avoidance of doubt, if a Participant was otherwise eligible to participate in any other Company severance and/or change in control plan (whether or not subject to ERISA), then participation in this Plan will supersede and replace eligibility in such other plan, except as otherwise provided in this paragraph.  Notwithstanding the foregoing, any provision in a Participant’s existing offer letter, employment agreement, and/or equity award agreement with the Company that provides for vesting of Participant’s restricted stock units upon (i) the effective date of the initial public offering of the Company’s securities or (ii) the date of an Acquisition (as defined in the letter and/or agreement) (in either case, a “Liquidity Event Trigger”) or such other similar terms as set forth therein will not be superseded by the Plan or the Participation Agreement, and will continue in full force and effect pursuant to its existing terms.
In order to receive any Severance Benefits for which you otherwise become eligible under the Plan, you must sign and deliver to the Company the Release, which must have become effective and irrevocable within the requisite period, and otherwise comply with the requirements under Section 6 of the Plan.
By your signature below, you and the Company agree that your participation in the Plan is governed by this Participation Agreement and the provisions of the Plan.  Your signature below confirms that: (1) you have received a copy of the Executive Change in Control and Severance Plan and Summary Plan Description; (2) you have carefully read this Participation Agreement and the Executive Change in Control and Severance Plan and Summary Plan Description and you acknowledge and agree to its terms in accordance with the terms of the Plan and this Participation Agreement; and (3) decisions and determinations by the Administrator under the Plan will be final and binding on you and your successors.
[Signature page follows]
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	SAMSARA INC.		PARTICIPANT
	/s/ Sanjit Biswas		/s/ Adam Eltoukhy
	Signature		Signature
			
	Sanjit Biswas		Adam Eltoukhy
	Name		Name
			
	Chief Executive Officer		June 6, 2022
	Title		Title
			
	Attachment: Samsara Inc. Executive Change in Control and Severance Plan and Summary Plan Description

[Signature page to the Participation Agreement]
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EXHIBIT B
EMPLOYEE INVENTION ASSIGNMENT
AND CONFIDENTIALITY AGREEMENT
In consideration of, and as a condition of my employment with Samsara Inc., a Delaware corporation with its principal offices in the State of California (the “Company”), I, as the “Employee” signing this Employee Invention Assignment and Confidentiality Agreement (this “Agreement”), hereby represent to the Company, and the Company and I hereby agree as follows:
1.    Purpose of Agreement. I understand that the Company is engaged in a continuous program of research, development, production and/or marketing in connection with its current and projected business and that it is critical for the Company to preserve and protect its proprietary information, its rights in certain inventions and works and in related intellectual property rights. Accordingly, I am entering into this Agreement, whether or not I am expected to create inventions or other works of value for the Company. As used in this Agreement, “Inventions” means inventions, improvements, designs, original works of authorship, formulas, processes, compositions of matter, computer software programs, databases, mask works, confidential information and trade secrets.
2.    Disclosure of Inventions. I will promptly disclose in confidence to the Company, or to any person designated by it, all Inventions that I make, create, conceive or first reduce to practice, either alone or jointly with others, during the period of my employment, whether or not in the course of my employment, and whether or not patentable, copyrightable or protectable as trade secrets.
3.    Work for Hire; Assigned Inventions. I acknowledge and agree that any copyrightable works prepared by me within the scope of my employment will be “works made for hire” under the Copyright Act and that the Company will be considered the author and owner of such copyrightable works. I agree that all Inventions that I make, create, conceive or first reduce to practice during the period of my employment, whether or not in the course of my employment, and whether or not patentable, copyrightable or protectable as trade secrets, and that (i) are developed using equipment, supplies, facilities or trade secrets of the Company; (ii) result from work performed by me for the Company; or (iii) relate to the Company’s business or actual or demonstrably anticipated research or development (the “Assigned Inventions”), will be the sole and exclusive property of the Company.
4.    Excluded Inventions and Other Inventions. Attached hereto as Appendix A is a list describing all existing Inventions, if any, that may relate to the Company’s business or actual or demonstrably anticipated research or development and that were made by me or acquired by me prior to the Effective Date (as defined in Section 25, below), and which are not to be assigned to the Company (“Excluded Inventions”). If no such list is attached, I represent and agree that it is because I have no rights in any existing Inventions that may relate to the Company’s business or actual or demonstrably anticipated research or development. For purposes of this Agreement, “Other Inventions” means Inventions in which I have or may have an interest, as of the Effective Date or thereafter, other than Assigned Inventions and Excluded Inventions. I acknowledge and agree that if, in the scope of my employment, I use any Excluded Inventions or any Other Inventions, or if I include any Excluded Inventions or Other Inventions in any product or service of the Company or if my rights in any Excluded Inventions or Other Inventions may block or interfere with, or may otherwise be required for, the exercise by the Company of any rights assigned to the Company under this Agreement, I will immediately so notify the Company in writing. Unless the Company and I agree otherwise in writing as to particular Excluded Inventions or Other Inventions, I hereby grant to the Company, in such circumstances (whether or not I give the Company notice as required above), a perpetual, irrevocable, nonexclusive, transferable, world-wide, royalty-free license to use, disclose, make, sell, offer for sale, import, copy, distribute, modify and create works based on, perform, and display such Excluded Inventions and Other Inventions, and to sublicense third parties in one or more tiers of sublicensees with the same rights.
5.    Exception to Assignment. I understand that the Assigned Inventions will not include, and the provisions of this Agreement requiring assignment of inventions to the Company do not apply to, any invention that qualifies fully for exclusion under the provisions of Section 2870 of the California Labor Code, which are attached hereto as Appendix B.
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6.    Assignment of Rights. I agree to assign, and do hereby irrevocably transfer and assign, to the Company: (i) all of my rights, title and interests in and with respect to any Assigned Inventions; (ii) all patents, patent applications, copyrights, mask works, rights in databases, trade secrets, and other intellectual property rights, worldwide, in any Assigned Inventions, along with any registrations of or applications to register such rights; and (iii) to the extent assignable, any and all Moral Rights (as defined below) that I may have in or with respect to any Assigned Inventions. I also hereby forever waive and agree never to assert any Moral Rights I may have in or with respect to any Assigned Inventions and any Excluded Inventions or Other Inventions licensed to the Company under Section 4, and, at Company’s request and expense, further hereby agrees to consent to and join in any action or proceeding to enforce such rights, even after termination of my employment with the Company. “Moral Rights” means any rights to claim authorship of a work, to object to or prevent the modification or destruction of a work, to withdraw from circulation or control the publication or distribution of a work, and any similar right, regardless of whether or not such right is denominated or generally referred to as a “moral right.”
7.    Assistance. I will assist the Company in every proper way to obtain and enforce for the Company all patents, copyrights, mask work rights, trade secret rights and other legal protections for the Assigned Inventions, worldwide. I will execute and deliver any documents that the Company may reasonably request from me in connection with providing such assistance.
My obligations under this section will continue beyond the termination of my employment with the Company; provided that the Company agrees to compensate me at a reasonable rate after such termination for time and expenses actually spent by me at the Company’s request in providing such assistance. I hereby appoint the Secretary of the Company as my attorney-in-fact to execute documents on my behalf for this purpose. I agree that this appointment is coupled with an interest and will not be revocable.
8.    Proprietary Information. I understand that my employment by the Company creates a relationship of confidence and trust with respect to any information or materials of a confidential or secret nature that may be made, created or discovered by me or that may be disclosed to me by the Company or a third party in relation to the business of the Company or to the business of any parent, subsidiary, affiliate, customer or supplier of the Company, or any other party with whom the Company agrees to hold such information or materials in confidence (the “Proprietary Information”). Without limitation as to the forms that Proprietary Information may take, I acknowledge that Proprietary Information may be contained in tangible material such as writings, drawings, samples, electronic media, or computer programs, or may be in the nature of unwritten knowledge or know-how. Proprietary Information includes, but is not limited to, Assigned Inventions, marketing plans, product plans, designs, data, prototypes, specimens, test protocols, laboratory notebooks, business strategies, financial information, forecasts, personnel information, contract information, customer and supplier lists, and the non-public names and addresses of the Company’s customers and suppliers, their buying and selling habits and special needs. At all times before, during, and after my employment, and to the fullest extent permitted by law, I will keep and hold all Proprietary Information I am given access to in strict confidence and trust.
9.    Confidentiality. At all times, both during my employment and after its termination, and to the fullest extent permitted by law, I will keep and hold all Proprietary Information in strict confidence and trust. I will not use or disclose any Proprietary Information without the prior written consent of the Company in each instance, except as may be necessary to perform my duties as an employee of the Company for the benefit of the Company. Upon termination of my employment with the Company, I will promptly deliver to the Company all documents and materials of any nature pertaining to my work with the Company, and I will not take with me or retain in any form any documents or materials or copies containing any Proprietary Information.  Nothing in this Section 9 or otherwise in this Agreement shall limit or restrict in any way my immunity from liability for disclosing the Company’s trade secrets as specifically permitted by 18 U.S. Code Section 1833, the pertinent provisions of which are attached hereto as Appendix C.
10.    Physical Property. All documents, supplies, equipment and other physical property furnished to me by the Company or produced by me or others in connection with my employment will be and remain the sole property of the Company. I will return to the Company all such items when requested by the Company, excepting only my personal copies of records relating to my employment or compensation and any personal property I bring with me to the Company and designate as such. Even if the Company does not so request, I will upon termination of my employment return to the Company all Company property, and I will not take with me or retain any such items.
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11.    No Breach of Prior Agreements or Third Party Intellectual Property Rights. I represent that my performance of all the terms of this Agreement and my duties as an employee of the Company will not breach any invention assignment, proprietary information, confidentiality, non-competition, or other agreement with any former employer or other party. I represent that I will not bring with me to the Company or use in the performance of my duties for the Company any documents or materials or intangibles of my own or of a former employer or third party that are not generally available for use by the public or have not been legally transferred to the Company.  I represent that I will not infringe, misappropriate or violate the rights of any third party, including, without limitation, any intellectual property rights or any rights of privacy or rights of publicity.  Should I reasonably believe at any time that I am at risk of violating any of the warranties contained herein, I shall immediately notify Company and work with Company to remediate such violation.  I will defend, indemnify, and hold Company harmless from and against all claims, damages, liabilities, losses, expenses and costs (including reasonable fees and expenses of attorneys and other professionals) arising out of or resulting from any claim that I have breached this provision.
12.    “At Will” Employment. I understand that this Agreement does not constitute a contract of employment or obligate the Company to employ me for any stated period of time. I understand that I am an “at will” employee of the Company and that my employment can be terminated at any time, with or without notice and with or without cause, for any reason or for no reason, by either the Company or by me. I acknowledge that any statements or representations to the contrary are ineffective, unless put into a writing signed by the Company. I further acknowledge that my participation in any benefit program is not to be construed as any assurance of continuing employment for any particular period of time.
13.    Company Opportunities; Duty Not to Compete. During the period of my employment, I will at all times devote my best efforts to the interests of the Company, and I will not, without the prior written consent of the Company, engage in, or encourage or assist others to engage in, any other employment or activity that: (i) would divert from the Company any business opportunity in which the Company can reasonably be expected to have an interest; (ii) would directly compete with, or involve preparation to compete with, the current or future business of the Company; or (iii) would otherwise conflict with the Company’s interests or could cause a disruption of its operations or prospects.
14.    Non-Solicitation.
(a)    Nonsolicitation of Business. I agree that for a one year period following termination or cessation of my employment with the Company (the “Restricted Period”), I will not either alone or in association with others, solicit, divert or take away, or attempt to divert or take away, the business or patronage of any of the clients, customers, or business partners of the Company which I contacted, solicited, or served during the twelve (12)-month period prior to the termination or cessation of my employment with the Company.
(b)    Nonsolicitation of Employees and Contractors. I agree that during my employment by the Company and the Restricted Period, I will not solicit any employee or contractor of the Company to terminate his or her employment or contractors status with the Company.
15.    Use of Name & Likeness. I hereby authorize the Company to use, reuse, and to grant others the right to use and reuse, my name, photograph, likeness (including caricature), voice, and biographical information, and any reproduction or simulation thereof, in any form of media or technology now known or hereafter developed, both during and after my employment, for any purposes related to the Company’s business, such as marketing, advertising, credits, and presentations.
16.    Notification. I hereby authorize the Company, during and after the termination of my employment with the Company, to notify third parties, including, but not limited to, actual or potential customers or employers, of the terms of this Agreement and my responsibilities hereunder.
17.    Injunctive Relief. I understand that a breach or threatened breach of this Agreement by me may cause the Company to suffer irreparable harm and that the Company will therefore be entitled to injunctive relief to enforce this Agreement.
18.    Governing Law; Severability. This Agreement is intended to supplement, and not to supersede, any rights the Company may have in law or equity with respect to the duties of its employees and the protection of its trade secrets. This Agreement will be governed by and construed in accordance with the laws of the State of California without giving effect to any principles of conflict of laws that would lead to the application of the laws of another jurisdiction. If any provision of this Agreement is invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible, given the fundamental intentions of the parties when entering into this Agreement. To the extent such provision cannot be so enforced, it will be stricken from this Agreement and the remainder of this Agreement will be enforced as if such invalid, illegal or unenforceable provision had never been contained in this Agreement.
19.    Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together will constitute one and the same agreement.
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20.    Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede all prior understandings and agreements, whether oral or written, between the parties hereto with respect to such subject matter.
21.    Amendment and Waiver. This Agreement may be amended only by a written agreement executed by each of the parties to this Agreement. No amendment or waiver of, or modification of any obligation under, this Agreement will be enforceable unless specifically set forth in a writing signed by the party against which enforcement is sought. A waiver by either party of any of the terms and conditions of this Agreement in any instance will not be deemed or construed to be a waiver of such term or condition with respect to any other instance, whether prior, concurrent or subsequent.
22.    Successors and Assigns; Assignment. Except as otherwise provided in this Agreement, this Agreement, and the rights and obligations of the parties hereunder, will bind and benefit the parties and their respective successors, assigns, heirs, executors, administrators, and legal representatives. The Company may assign any of its rights and obligations under this Agreement. I understand that I will not be entitled to assign or delegate this Agreement or any of my rights or obligations hereunder, whether voluntarily or by operation of law, except with the prior written consent of the Company.
23.    Further Assurances. The parties will execute such further documents and instruments and take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement. Upon termination of my employment with the Company, I will execute and deliver a document or documents in a form reasonably requested by the Company confirming my agreement to comply with the post-employment obligations contained in this Agreement.
24.    Acknowledgement. I certify and acknowledge that I have carefully read all of the provisions of this Agreement and that I understand and will fully and faithfully comply with this Agreement.
25.    Effective Date of Agreement. This Agreement is and will be effective on and after the first day of my employment by the Company, which is October 22, 2018 (the “Effective Date”).
									
	SAMSARA INC.:		Employee:
	/s/ Sanjit Biswas		/s/ Adam Eltoukhy
	By:		Signature
			
	Name: Sanjit Biswas
		Name: Adam Eltoukhy

			
	Title: Chief Executive Officer		

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Exhibit B | Appendix A
LIST OF EXCLUDED INVENTIONS UNDER SECTION 4
Title:
Date:
Identifying Number or Brief Description:
						
	X	No inventions, improvements, or original works of authorship

		Additional sheets attached
		
	Signature of Employee:	
		
	/s/ Adam Eltoukhy	
		
	Name of Employee:	Adam Eltoukhy
		
	Date:	June 6, 2022

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Exhibit B | Appendix B
CALIFORNIA LABOR CODE 2870 NOTICE:
California Labor Code Section 2870 provides as follows:
Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either: (1) relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or (2) result from any work performed by the employee for the employer. To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under California Labor Code Section 2870(a), the provision is against the public policy of this state and is unenforceable.
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Exhibit B | Appendix C
DEFEND TRADE SECRETS ACT, 18 U.S. CODE § 1833 NOTICE:
18 U.S. Code Section 1833 provides as follows:
Immunity From Liability For Confidential Disclosure Of A Trade Secret To The Government Or In A Court Filing.  An individual shall 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, (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.
Use of Trade Secret Information in Anti-Retaliation Lawsuit.  An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.
-21-

EXHIBIT C
SAMSARA INC.
ARBITRATION AGREEMENT
As a condition of my employment with Samsara Inc., its subsidiaries, affiliates, successors or assigns (together, “Samsara” or the “Company”), and in consideration of my employment with the Company and my receipt of the compensation now and hereafter paid to me by Company, I agree to the following provisions of this Samsara Arbitration Agreement (this “Agreement”):
1.ARBITRATION AND EQUITABLE RELIEF
A.Arbitration. In consideration of my employment with the Company, its promise to arbitrate all employment-related disputes, and my receipt of the compensation, pay raises, and other benefits paid to me by the Company, at present and in the future, I agree that any and all controversies, claims, or disputes with anyone (including the Company and any employee, officer, director, shareholder, or benefit plan of the Company, in their capacity as such or otherwise), excluding those involving a claim of sexual harassment at the Company, but in all other cases arising out of, relating to, or resulting from my employment with the Company or the termination of my employment with the Company, including any breach of this Agreement, shall be subject to binding arbitration under the arbitration provisions set forth in California Code of Civil Procedure Sections 1280 through 1294.2, including Section 1281.8 (the “Act”), and pursuant to California and federal law, and shall be brought in my individual capacity in arbitration, and not as a plaintiff or class member in any purported class or representative proceeding. The Federal Arbitration Act shall continue to apply with full force and effect notwithstanding the application of procedural rules set forth in the Act. Disputes that I agree to arbitrate, and thereby agree to waive any right to a trial by jury, include any statutory claims under local, state, or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans With Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Sarbanes-Oxley Act, the Worker Adjustment and Retraining Notification Act, the California Fair Employment and Housing Act, the Family and Medical Leave Act, the California Family Rights Act, the California Labor Code (including but not limited to representative claims pursuant to California’s Labor Code Private Attorneys General Act), claims of harassment, discrimination, and wrongful termination, and any statutory or common law claims. Notwithstanding the foregoing, I understand that nothing in this Agreement constitutes a waiver of my rights under Section 7 of the National Labor Relations Act or under California’s Labor Code Private Attorneys General Act, Cal. Labor Code § 2698 et seq. I further understand that this agreement to arbitrate also applies to any disputes that the Company may have with me.
B.Remedy. Except as provided by the Act and this Agreement, arbitration shall be the sole, exclusive, and final remedy for any dispute between me and the Company. Accordingly, except as provided for by the Act and this Agreement, neither I nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration.
C.Procedure. I agree that any arbitration will be administered by Judicial Arbitration & Mediation Services, Inc. (“JAMS”), pursuant to its employment arbitration rules & procedures (the “JAMS Rules”), which are available at http://www.jamsadr.com/rulesemployment-arbitration/ and from the People Operations Team. I agree that the arbitrator shall have the power to decide any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication, and motions to dismiss and demurrers, applying the standards set forth under the California Code of Civil Procedure. I agree that the arbitrator shall issue a written decision on the merits. I also agree that the arbitrator shall have the power to award any remedies available under applicable law, and that the arbitrator shall award attorneys’ fees and costs to the prevailing party, where provided by applicable law. I agree that the decree or award rendered by the arbitrator may be entered as a final and binding judgment in any court having jurisdiction thereof. I understand that the Company will pay for any administrative or hearing fees charged by the arbitrator or JAMS except that I shall pay any filing fees associated with any arbitration that I initiate, but only so much of the filing fees as I would have instead paid had I filed a complaint in a court of law. I agree that the arbitrator shall administer and conduct any arbitration in accordance with California law, including the California Code of Civil Procedure and the California Evidence Code, and that the arbitrator shall apply substantive and procedural California law to any dispute or claim, without reference to rules of conflict of law. To the extent that the JAMS rules conflict with California law, California law shall take precedence. I agree that any arbitration under this Agreement shall be conducted in San Francisco, California.
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A.Administrative Relief. I understand that this Agreement does not prohibit me from pursuing an administrative claim with a local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to, the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission, the National Labor Relations Board, or the Workers’ Compensation Board. This Agreement does, however, preclude me from pursuing court action regarding any such claim, except as required by law.
B.Voluntary Nature of Agreement. I acknowledge and agree that I am executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else. I acknowledge and agree that I have received a copy of the text of California Labor Code Section 2870 in Exhibit B. I further acknowledge and agree that I have carefully read this Agreement and that I have asked any questions needed for me to understand the terms, consequences, and binding effect of this Agreement and fully understand it, including that I am waiving my right to a jury trial. Finally, I agree that I have been provided an opportunity to seek the advice of an attorney of my choice before signing this Agreement.
C.Confidentiality. I acknowledge and agree that all aspects of an arbitration pursuant to this Agreement, including the hearing and recording of the proceeding, are confidential and not open to the public, except: (i) to the extent Samsara and I agree otherwise in writing; (ii) as may be appropriate in any subsequent proceeding between myself and Samsara; (iii) as may be necessary in connection with a court application for a preliminary remedy or a judicial challenge to an arbitration award or its enforcement; (iv) as may otherwise be necessary in response to a governmental agency or compulsory legal process; (v) as required by the Arbitrator in appropriate circumstances; or (vi) as required by law to ensure that this agreement to arbitrate is enforceable. Further, I agree that all settlement negotiations and mediations shall be confidential.
2.GOVERNING LAW; CONSENT TO PERSONAL JURISDICTION. This Agreement will be governed by the laws of the State of California without regard to California’s conflicts of law rules that may result in the application of the laws of any jurisdiction other than California. To the extent that any lawsuit is permitted under this Agreement, I hereby expressly consent to the personal and exclusive jurisdiction and venue of the state and federal courts located in California for any lawsuit filed against me by the Company.
3.ASSIGNABILITY. This Agreement will be binding upon my heirs, executors, assigns, administrators, and other legal representatives, and will be for the benefit of the Company, its successors, and its assigns. There are no intended third-party beneficiaries to this Agreement, except as may be expressly otherwise stated. Notwithstanding anything to the contrary herein, Samsara may assign this Agreement and its rights and obligations under this Agreement to any successor to all or substantially all of Samsara’s relevant assets, whether by merger, consolidation, reorganization, reincorporation, sale of assets or stock, or otherwise.
4.SEVERABILITY. If a court or other body of competent jurisdiction finds, or the Parties mutually believe, any provision of this Agreement, or portion thereof, to be invalid or unenforceable, such provision will be enforced to the maximum extent permissible so as to effect the intent of the Parties, and the remainder of this Agreement will continue in full force and effect.
5.MODIFICATION, WAIVER. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in a writing signed by the Head of the People Operations Team at Samsara and me. Waiver by Samsara of a breach of any provision of this Agreement will not operate as a waiver of any other or subsequent breach.
6.ENTIRE AGREEMENT. This Agreement, together with the Exhibits herein, the Proprietary Information and Invention Assignment Agreement between me and the Company, and any executed written offer letter between me and the Company, to the extent such materials are not in conflict with this Agreement, sets forth the entire agreement and understanding between the Company and me with respect to the subject matter herein and supersedes all prior written and oral agreements, discussions, or representations between us, including, but not limited to, any representations made during my interview(s) or relocation negotiations. I represent and warrant that I am not relying on any statement or representation not contained in this Agreement. Any subsequent change or changes in my duties, salary, or compensation will not affect the validity or scope of this Agreement.
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7.SURVIVORSHIP. The rights and obligations of the parties to this Agreement will survive termination of my employment with the Company.
						
	Signature of Employee:	
		
	/s/ Adam Eltoukhy	
		
	Name of Employee:	Adam Eltoukhy
		
	Date:	June 6, 2022

-24-Exhibit 4.1

 

Execution Version

 

WARRANT

 

THE SECURITIES REPRESENTED BY THIS INSTRUMENT
AND THE ORDINARY SHARES ISSUABLE UPON EXERCISE OF THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OF THE UNITED STATES. THE TRANSFER OF THE SECURITIES REPRESENTED HEREBY IS SUBJECT TO THE CONDITIONS SPECIFIED IN THAT CERTAIN SUBSCRIPTION
AGREEMENT DATED AS OF JANUARY ______, 2021, AS AMENDED AND MODIFIED FROM TIME TO TIME, BETWEEN THE COMPANY AND LEXINTER INTERNATIONAL
INC.

 

Earthasia International Holdings Ltd.

 

泛 亞 環 境 國
 際 控 股 有 限 公 司

 

WARRANT

 

	Warrant No. ____	Warrant to Purchase
[     ] Ordinary Shares

 

Earthasia International Holdings
Ltd. 泛 亞 環 境 國 際 控 股 有 限 公 司, a company organized
and existing under the laws of the Cayman Islands (together with its successors, the "Company"), for value received
hereby promises, subject to the terms and conditions stated herein, to issue to [     ] (the "Holder")
or its successors and permitted assigns, up to [     ] Shares (as defined in Condition 1.1), subject
to adjustment as provided herein, upon exercise of this Warrant in accordance with the terms hereof.

 

This Warrant was issued pursuant
to that certain Subscription Agreement, dated as of January ____, 2021, by and between the Company and Lexinter International Inc.
(as amended and modified from time to time, the "Subscription Agreement"). Except as defined in this Warrant, capitalized
terms used in this Warrant and not otherwise defined shall have the same meanings set forth in the Subscription Agreement.

 

After delivery of an indemnity
from the Holder in form and substance reasonably satisfactory to the Company, the Company agrees to issue at its own expense a replacement
Warrant if this Warrant has been lost, stolen, mutilated or destroyed.

 

1.             Definitions

 

1.1           Certain
Defined Terms. The following terms (except as otherwise expressly provided or unless the context otherwise clearly requires) for
all purposes of this Warrant shall have the respective meanings specified below.

 

"Adjustment Event" means
any event requiring adjustment of the Exercise Price pursuant to Condition 3.

 

"Board Resolution" means a resolution
duly adopted by the Board.

 

"Exercise Price" means
HK$0.65 per Share, as adjusted from time to time in accordance with Condition 3.

 

"Expiration Date" means the fifth anniversary
date of the Warrant Issue Date.

 

Warrant Execution Page

 

    

    

    

 

"Holder" means the holder
of this Warrant initially as set forth above and each and any of its successors and permitted assignees.

 

"Listing Rules" means
The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

 

"Required Majority of Holders"
means holders of the Warrant representing in the aggregate at least two-thirds of the aggregate number of Shares for which all outstanding
Warrant are exercisable.

 

"Shares" means the ordinary shares of the
Company.

 

"Warrant Shares" means
the Shares issuable upon the exercise of this Warrant.

 

1.2            Interpretation.

 

		(a)	a contract or document in this Warrant is to that contract or document as amended, novated, supplemented,
restated or replaced from time to time;

 

		(b)	any person shall include its successors in title, permitted assigns and permitted transferees;

 

		(c)	the terms "include" and "including" shall be construed to mean "including without
limitation";

 

		(d)	any document are to be construed as references to such document as amended, supplemented, extended, restated,
novated and/or replaced in any manner from time to time;

 

		(e)	any statute or statutory provision or stock exchange listing rules include: (a) that statute
or provision or listing rules as from time to time modified, re-enacted or consolidated whether before or after the date of this
Agreement; (b) any past statute or statutory provision or listing rules (as from time to time modified, re-enacted or consolidated)
which that statute or provision has directly or indirectly replaced; and (c) any subordinate legislation made from time to time under
that statute or statutory provision; and

 

		(f)	any currency other than U.S. dollars, except for Hong Kong dollars, shall be translated into U.S. dollars
at the average buying and selling rate published by The Hongkong and Shanghai Banking Corporation Limited on its website at 11am on the
date of determination; Hong Kong dollars shall be translated into U.S. dollars at the exchange rate of HK$7.75 to US$1.

 

2.            Exercise
of Warrant

 

		2.1	Exercise; Payment of Purchase Price. This Warrant may be exercised, in whole or in part, at any
time or from time to time on or prior to the Expiration Date, by surrendering to the Company at its principal office this Warrant, with
the form of Election to Purchase Shares attached hereto as Exhibit A duly executed by the Holder and accompanied
by payment of the aggregate Exercise Price for the number of Shares specified in such form by any or a combination of (i) wire transfer
to an account designated by the Company, (ii) delivery of a certified check or bank check payable to the order of the Company or
(iii) by cancellation of indebtedness. If the Expiration Date is not a Business Day, then such exercise may be made on the next succeeding
Business Day.

 

    2

    

    

 

		2.2	Delivery of Shares. As soon as practicable after surrender of this Warrant and receipt of payment,
the Company shall promptly issue and deliver to the Holder a certificate or certificates for the number of Shares set forth in the Election
to Purchase Shares, in such name or names as may be designated by such Holder, who shall not be a connected person of the Company referred
to in Condition 7.3 below, along with a check for the amount of cash to be paid in lieu of issuance of fractional shares, if any.

 

		2.3	Partial Exercise. If this Warrant is exercised for less than all of the Shares purchasable under
this Warrant, the Company shall cancel this Warrant upon surrender hereof and shall execute and deliver to the Holder a new Warrant of
like tenor for the balance of the Shares purchasable hereunder.

 

		2.4	When Exercise Effective. The exercise of this Warrant shall be deemed to have been effective immediately
prior to the close of business on the Business Day on which this Warrant is surrendered to and the Purchase Price is received by the Company
as provided in this Condition 2 (the "Exercise Date"), and the Person in whose name any certificate for Shares
shall be issuable upon such exercise, as provided in Condition 2.2, shall be deemed to be the record holder of such Shares for
all purposes on the Exercise Date.

 

		2.5	No Fractional Shares. No fractional Shares shall be issued upon conversion of this Warrant, provided
that if more than one Warrant is surrendered for conversion at one time by the same Holder, the number of fully paid Shares which shall
be issuable upon conversion thereof shall be computed on the basis of the aggregate number of Shares for which the Warrant (or specified
portions thereof) so surrendered are exercisable. Instead of any fractional Share that would otherwise be issuable upon conversion of
any Warrant or specified portions thereof, the Company shall pay a cash adjustment in respect of such fractional share in an amount equal
to such fraction multiplied by the Exercise Price.

 

		2.6	Restrictions on Exercise. Notwithstanding the foregoing, if solely as a result of, and to the extent
that, the issue of any Shares to the Holder upon such exercise in full or part of the Warrant (the “Uncovered
Shares”), (x) the Company would cease to satisfy the public float requirement under
the Listing Rules, or (y) a general offer obligation under the Hong Kong Code on Takeovers and Mergers in respect of the Shares would
arise, with respect only to the part of the Warrant the exercise of which would result in the Uncovered Shares shall not be exercisable
until the Holder shall have taken and caused to be taken the necessary actions to sell, assign or otherwise dispose the Shares held by
such Holder prior to the contemplated Exercise Date such that the issuance of the Uncovered Shares to such Holder would not result in
(x) the Company ceasing to satisfy the public float requirement under the Listing Rules, or (y) a general offer obligation under
the Hong Kong Code on Takeovers and Mergers in respect of the Shares arising.

 

    3

    

    

 

3.            Adjustment
of Exercise Price and Number of Shares Issuable Upon Exercise

 

		3.1	Share Dividends. In the event that the Company makes
a dividend or other distribution in Shares to holders of Shares, (a) the Exercise Price shall be reduced by multiplying the Exercise
Price in effect immediately prior to the close of business on the date fixed for the determination of shareholders entitled to such dividend
or distribution by a fraction, the numerator of which is the number of Shares in issue at the close of business on the date fixed for
such determination and the denominator of which is such number of Shares plus the total number of Shares constituting such dividend or
other distribution, and (b) the number of Shares issuable upon exercise of this Warrant shall be increased as provided in Condition
3.9, such decrease in the Exercise Price and increase in the number of Shares issuable hereunder to become effective immediately
prior to the opening of business on the day following the date fixed for such determination.

 

		3.2	Subdivisions and Combinations. In the event that outstanding
Shares are subdivided into a greater number of Shares, the Exercise Price in effect immediately prior to the effectiveness of such subdivision
shall be proportionately reduced, and, conversely, in the event that outstanding Shares are combined into a smaller number of Shares,
the Exercise Price in effect immediately prior to the effectiveness of such combination shall be proportionately increased. If the Exercise
Price is reduced or increased pursuant to this Condition 3.2, the number of Shares issuable upon exercise of this Warrant shall
be increased or reduced as provided in Condition 3.9. Such reduction or increase of the Exercise Price, and such increase or reduction
of the number of Shares issuable hereunder, shall become effective simultaneously with the effectiveness of such subdivision or combination.

 

		3.3	Distributions. In the event that the Company distributes
to holders of Shares, by dividend or otherwise, evidences of its indebtedness, shares of any class of its capital stock, cash or other
assets (including securities, but excluding (i) any dividend or distribution paid exclusively in cash out of the aggregate net profits
(less losses) attributable to Shares for all financial periods after [June 30, 2020] and (ii) any dividend or distribution
referred to in Condition 3.1), the Exercise Price shall be reduced by multiplying the Exercise Price in effect immediately prior
to the close of business on the date fixed for the determination of shareholders entitled to such distribution by a fraction, the numerator
of which is (x) such then current Exercise Price less (y) the aggregate fair market value on such date of the evidences of
indebtedness, shares of capital stock, cash and other assets to be distributed divided by the number of Shares in issue at the close
of business on such date, and the denominator of which is such then current Exercise Price, such reduction to become effective immediately
prior to the opening of business on the day following such date.

 

		3.4	Share Reclassifications. The reclassification of Shares
into securities which include securities other than Shares (other than any reclassification upon a consolidation or merger to which Condition
4.1 applies) shall be deemed to involve (i) a distribution of such securities other than Shares to all holders of Shares within
the meaning of Condition 3.3 (and the effective date of such reclassification shall be deemed to be "the date fixed for the
determination of shareholders entitled to such distribution" within the meaning of Condition 3.3) and (ii) a subdivision
of the number of Shares in issue immediately prior to such reclassification into the number of Shares in issue immediately thereafter
within the meaning of Condition 3.2  (and the effective date of such reclassification shall be deemed to be the date of effectiveness
of such subdivision or combination, as the case may be, for purposes of Condition 3.2).

 

    4

    

    

 

		3.5	Rights Issues. In the event that the Company offers to holders of any Shares new Shares for subscription
by way of rights, or grants to holders of Shares any options or warrants to subscribe for new Shares, at a price (“New Rights
Issue Price”) that is less than the Exercise Price, the Exercise Price shall be reduced to equal the New Rights Issue Price,
such adjustment to become effective (if appropriate retroactively) immediately prior to the opening of business on the next day following
the record date for the offer or grant.

 

		3.6	Issuance of Shares Below Exercise Price or New Securities
for Total Effective Consideration Below Exercise Price.

 

		(a)	In the event that the Company issues any Shares for consideration per share (“New Share Issue
Price”) that is less than the Exercise Price in effect immediately prior to such issuance, the Exercise Price shall be reduced
to equal the New Share Issue Price, such reduction to become effective on the date of the issuance.

 

		(b)	In the event that the Company issues any securities that by their terms are convertible into or exchangeable
for or carry rights of subscription for new Shares ("Share Equivalents") and the Total Effective Consideration per Share
receivable for such Share Equivalents at the time of issuance (“New Share Equivalent Issue Price”) is less than the
Exercise Price in effect immediately prior to such issuance, the Exercise Price shall be reduced to equal such New Share Equivalent Issue
Price, such reduction to become effective on the date of issuance.

 

		(c)	In the event that after the date of issuance of the Share Equivalents, the rights of conversion or exchange
or subscription attached to any Share Equivalents are modified so that the Total Effective Consideration per Share receivable for such
Share Equivalents (“New Share Equivalent Conversion Price”) becomes less than the Exercise Price in effect immediately
prior to the effectiveness of such New Share Equivalent Conversion Price, the Exercise Price shall be reduced to equal such New Share
Equivalent Conversion Price. Such adjustment shall become effective simultaneously with the effectiveness of such New Share Equivalent
Conversion Price. A right of conversion or exchange or subscription shall not be treated as modified for the foregoing purposes to the
extent that it is adjusted to take account of events giving rise to an adjustment of the Exercise Price pursuant to this Condition
3.

 

		(d)	For the purposes of Condition 3, the "Total Effective Consideration" receivable
for the Share Equivalents issued shall be deemed to be the consideration receivable by the Company for any such Share Equivalents plus
the additional minimum consideration (if any) to be received by the Company upon (and assuming) the conversion or exchange thereof or
the exercise of such subscription rights, and the "Total Effective Consideration per Share" receivable for such Share
Equivalents shall initially be such aggregate consideration divided by the number of Shares to be issued upon
(and assuming) such conversion or exchange at the initial conversion or exchange rate or the exercise of such subscription rights at the
initial subscription price, in each case without any deduction for any commissions, discounts or expenses paid, allowed or incurred in
connection with the issuance.

 

    5

    

    

 

		3.7	Modification of Rights. Without limiting any other provision of this Condition 3, if the
Company or any Subsidiary shall in any way modify the rights attached to any share or loan capital so as wholly or partly to exchange
or make convertible such share or loan capital into, or attach thereto any rights to acquire, Shares, the Company shall appoint an approved
auditor to consider whether any adjustment to the Exercise Price is appropriate, and if such approved auditor shall certify that any such
adjustment is appropriate the Exercise Price shall be adjusted accordingly.

 

		3.8	Other Changes. If the Company at any time proposes to take any action affecting the Shares similar
to or having an effect similar to any of the actions described in any of Condition 3 (but not including any action described in
any such Condition), then the Board shall consider in good faith whether any adjustment of the Exercise Price is appropriate and, if so,
the amount of such adjustment. The Company shall notify the Holders of the Board's determination not less than ten (10) days prior
to the effectiveness of such proposed action. If a Required Majority of Holders gives notice to the Company within thirty (30) days after
delivery of such notice to the Holders, or if the Company fails to give such notice as required above, then upon the request of a Required
Majority of Holders an approved auditor shall determine whether an adjustment of the Exercise Price is appropriate and, if so, the amount
of such adjustment.

 

		3.9	Adjustment of Number of Shares Issuable upon Exercise of Warrant. If the Exercise Price is adjusted
pursuant to Conditions 3.1 through 3.4 (the “Adjustment Events”,
each an “Adjustment Event”), the number of Shares for which this Warrant
may be exercised shall be increased or reduced, as the case may be, to an amount equal to the number of Shares for which this Warrant
was exercisable immediately prior to the effectiveness of such Adjustment Event multiplied by a fraction, the numerator of which is the
Exercise Price in effect immediately prior to the effectiveness of such Adjustment Event and the denominator of which is the Exercise
Price in effect immediately after the effectiveness of such Adjustment Event.

 

		3.10	Value of Consideration. In case at any time any Shares
or Share Equivalents are issued or sold for cash, the consideration received therefor shall be deemed to be the amount received by the
Company therefor, without deduction therefrom of any expenses incurred or any underwriting commissions or concessions or discounts paid
or allowed by the Company in connection therewith. In case any Shares or Share Equivalents are issued or sold for a consideration other
than cash, the amount of the consideration other than cash received by the Company shall be deemed to be the fair market value of such
consideration, with deduction therefrom of any expenses incurred or any underwriting commissions or concessions or discounts paid or
allowed by the Company in connection therewith by the Board of Directors.

 

    6

    

    

 

		3.11	Limitations. The provisions of paragraphs Conditions
3.5 through 3.6  shall not apply to an issue of Shares or other securities of the Company wholly or partly convertible into, or rights
to acquire, Shares to officers or employees of the Company or any of its subsidiaries pursuant to any employee or executive share scheme
in existence as at the date of issue of this Warrant.

 

		3.12	Definitions. For the purposes of Condition 3:

 

"announcement" shall
include the release of an announcement to the press or the delivery or transmission by telephone, telex or otherwise of an announcement
to HKSE, and "date of announcement" shall mean the date on which the announcement is first so released, delivered or
transmitted;

 

"approved auditor"
means an auditing firm of international repute selected by a Required Majority of Holders for the purpose of providing a specific opinion
or calculation or determination hereunder;

 

"fair market value"
of any capital stock or other assets means fair market value as determined by the Board in good faith and set forth in a Board Resolution
and a written notice delivered to the Holders, provided that if, within thirty (30) days after delivery of such notice to the Holders,
a Required Majority of Holders objects to such determination, the fair market value of such capital stock or other assets shall be as
determined by an approved auditor;

 

"issue" shall include allot;

 

"listing" means a listing
of the Shares on an internationally recognized stock exchange;

 

"reserves" includes unappropriated profits;
and

 

"rights" includes rights in whatsoever form issued.

 

		3.13	Miscellaneous. No adjustment in the Exercise Price shall
be required unless such adjustment (plus any other adjustments not previously made by reason of this Condition 3.13) would require
an increase or decrease of at least 0.1% in the Exercise Price; provided that any adjustments which by reason of this paragraph (m) are
not required to be made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this Condition
3 shall be made to the nearest cent, to the nearest one-hundredth of a percentage point or to the nearest one-hundredth of a share,
as the case may be.

 

		3.14	Notice of Adjustments of Exercise Price. Whenever the
Exercise Price is adjusted as herein provided, the Company shall compute the adjusted Exercise Price in accordance with this Condition
3 and shall prepare a certificate signed by the Chief Financial Officer of the Company setting forth the adjusted Exercise Price
and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall forthwith be delivered to
each Holder. If a Required Majority of Holders gives notice to the Company objecting to such calculation or stating that, in the opinion
of such Required Majority of Holders, an event has occurred that requires an adjustment to the Exercise Price pursuant to Condition
3 but no notice of adjustment has been given by the Company, an approved auditor shall be appointed within ten (10) days after
delivery of such notice from the Required Majority of Holders to determine the appropriate adjustment of the Exercise Price, if any,
and such determination shall be final and binding on the Company and the Holder.

 

    7

    

    

 

4.            Provisions
as to Consolidation, Merger or Sale of Assets

 

		4.1	Provisions as to Consolidation, Merger or Sale of Assets.
In case of any consolidation of the Company with, or merger of the Company into, any other Person, any merger of another Person into
the Company where the Company is not the surviving person (other than a merger which does not result in any reclassification, conversion,
exchange or cancellation of outstanding Shares) or any sale or transfer of all or substantially all of the assets of the Company, the
Person formed by such consolidation or resulting from such merger or which acquires such assets, as the case may be, shall execute and
deliver to the Holder an agreement to assume the Warrant providing that the Holder of such Warrant then outstanding shall have the right
thereafter, during the period such Warrant shall be exercisable as specified in Condition 2.1, to exchange such Warrant into the
kind and amount of securities, cash and other property, if any, receivable upon such consolidation, merger, sale or transfer by a holder
of the number of Shares into which such Warrant might have been exchanged immediately prior to such consolidation, merger, sale or transfer,
assuming such holder of Shares (i) is not a Person with which the Company consolidated or into which the Company merged or which
merged into the Company or to which such sale or transfer was made, as the case may be (a "Constituent Person"), or
an Affiliate of a Constituent Person and (ii) failed to exercise his rights of election, if any, as to the kind or amount of securities,
cash and other property receivable upon such consolidation, merger, sale or transfer. Such supplemental instrument shall provide for
adjustments which, for events subsequent to the effective date of such supplemental instrument, shall be as nearly equivalent as may
be practicable to the adjustments provided for in Condition 3. The above provisions of this Condition 4.1  shall similarly
apply to successive consolidations, mergers, sales or transfers.

 

5.            Covenants

 

		5.1	Issuance of Shares. The Company shall promptly issue
all Warrant Shares on the dates and in the manner provided for in the Warrant.

 

		5.2	Reservation of Shares. The Company shall at all times
reserve and keep available, free from preemptive rights, out of the authorized but unissued Shares, for the purpose of effecting the
exercise of the Warrant, the full number of Shares then issuable upon the exercise of all outstanding Warrant pursuant to the terms and
conditions hereunder.

 

		5.3	Covenant as to Warrant Shares. The Company covenants
that all Warrant Shares upon issue (i) will be validly issued and fully paid, (ii) will be free from all taxes, liens and charges
with respect to the issue thereof, (iii) will rank equally and be of the same class as the Shares outstanding on the conversion
date, and (iv) will be listed and continued to be traded on the Main Board of HKSE, provided that the Company shall pay all the
expenses in relation to the issue of and obtaining a listing for the Warrant Shares on the HKSE. The Company further covenants that it
will not increase the par value of the Shares without the prior written
consent of a Required Majority of Holders.

 

    8

    

    

 

		5.4	No Dilution or Impairment. The Company will not, by amendment of its Memorandum and Articles of
Association or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any
other action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good
faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to
protect the rights of the Holder against dilution or other impairment.

 

		5.5	Notice of Certain Corporate Actions. In the event:

 

(a)            the
Company shall declare a share dividend (or any other distribution) on its Shares or a subdivision of the outstanding Shares; or

 

(b)            of
any reclassification of the Shares, or of any consolidation, merger or share exchange to which the Company is a party and for which approval
of any stockholders of the Company is required, or of the sale or transfer of all or substantially all of the assets of the Company; or

 

(c)            of
the voluntary or involuntary dissolution, liquidation or winding up of the Company; or

 

(d)            the
Company shall commence a tender offer for all or a portion of the outstanding Shares (or shall amend any such tender offer to change the
maximum number of shares being sought or the amount or type of consideration being offered therefor);

 

then the Company shall cause to be delivered
to the Holder, at least ten (10) Business Days prior to the applicable record, effective or expiration date hereinafter specified,
a notice stating (x) the date on which a record is to be taken for the purpose of such stock dividend, or, if a record is not to
be taken, the date as of which the holders of Shares of record who will be entitled to such dividend are to be determined, (y) the
date on which such reclassification is expected to become effective, and the date as of which it is expected that holders of Shares of
record shall be entitled to exchange their Shares for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, share exchange, sale, transfer, dissolution, liquidation or winding up, or (z) the date on which such tender offer commenced,
the date on which such tender offer is scheduled to expire unless extended, the consideration offered and the other material terms thereof
(or the material terms of any amendment thereto). Neither the failure to give any such notice nor any defect therein shall affect the
legality or validity of any action described in clauses (a) or (b) of this Condition 5.5.

 

		5.6	Notice of Restrictions. Where exercise of Warrant pursuant to the terms and conditions hereof would
result in (i) the Company not being able to satisfy the HKSE’s public shareholding requirement (i.e. 25% public float) under
Rule 8.08 of the Listing Rules following such exercise, or (ii) exercise all or part of the Warrant would trigger a mandatory
offer under rule 26 of the Takeovers Code on the part of the Holder and/or any person(s) acting in concerti with such Holder,
the Company shall immediately notify the Holder of such restrictions on exercise upon arising thereof.

 

    9

    

    

 

		5.7	Expenses of Enforcement. The Company shall, promptly
on demand, reimburse the Holder for any costs or expenses (including without limitation the fees, disbursements and other charges of
counsel) reasonably incurred by the Holder in enforcing its rights under the Warrant.

 

		6.	Amendment and Waiver

 

Except as otherwise expressly
provided herein, the provisions of this Warrant may be amended and the Company may take any action herein prohibited, or omit to perform
any act herein required to be performed by it, only if the Company has obtained the written consent of a Required Majority of Holders;
provided that no such amendment or waiver shall (i) reduce the number of Shares for which this Warrant is exercisable or (ii) reduce
the period during which this Warrant is exercisable. The Company shall promptly notify all Holders of the Warrant after the making of
any amendment or waiver pursuant to this Condition 6.

 

7.            Transfer

 

		7.1	Transferability. Subject to Condition 7.3 below,
the Holder may transfer this Warrant to one or more transferees without the Company’s consent.

 

		7.2	Warrant Register. The Company shall maintain a register (the "Warrant
                                                                                                                      Register") in its principal office for the purpose of registering of the Warrant and any transfer thereof, which register
                                                                                                                      shall reflect and identify, at all these times, the ownership of any interest in the Warrant. Upon the issuance of this Warrant, the
                                                                                                                      Company shall record the name of the Purchaser in the Warrant Register as the first Holder. Upon surrender for registration of
                                                                                                                      transfer or exchange of this Warrant together with a properly completed and executed Form of Assignment together with the
                                                                                                                      Certificate attached hereto as Exhibit B and all documents required to be provided by such Form of Assignment, at
                                                                                                                      the principal office of the Company, the Company shall upon evidence as may be reasonably requested by the Company is being provided
                                                                                                                      by the Holder to show that the transferee of the Warrant is not a connected person of the Company referred to in Condition
                                                                                                                      7.3 below, at its expense, execute and deliver one or more new warrants of like tenor which shall be exercisable for a like
                                                                                                                      aggregate number of Warrant Shares, registered in the name of the Holder or a transferee or transferees.

 

		7.3	None of the Warrant may be transferred to a connected person
of the Issuer. In this Condition 7, "connected person" has the meaning defined in Rule 14A.06(7) of
the Listing Rules.

 

8.            Liquidation
of the Company

 

If the Company is being wound
up, all subscription rights of this Warrant which have not been exercised by the date of passing of the requisite resolution for winding-up
of the Company shall lapse and any certificate for this Warrant shall cease for any purpose.

 

9.            Governing
Law; Dispute Resolution

 

		9.1	This Warrant shall be governed by and construed and enforced
in accordance with the laws of Hong Kong.

 

    10

    

    

 

		9.2	Jurisdiction of Hong Kong courts

  

		(a)	Subject to subsection (b) below, the courts of Hong Kong have exclusive jurisdiction to settle any
dispute arising out of or in connection with the Warrant (including a dispute regarding the existence, validity or termination of the
Warrant).

 

		(b)	This Condition 9.2 is for the benefit of both the Holder and the Company. As a result, the Holder
shall not be prevented from taking proceedings relating to a dispute in any other courts with jurisdiction. To the extent allowed by law,
the Investor may take concurrent proceedings in any number of jurisdictions.

 

		9.3	Waiver of immunity. The Company waives generally all immunity it or its assets or revenues may
otherwise have in any jurisdiction, including immunity in respect of

 

		(a)	the giving of any relief by way of injunction or order for specific performance or for the recovery of
assets or revenues; and/or;

 

		(b)	the issue of any process against its assets or revenues for the enforcement of a judgment or, in an action
in rem, for the arrest, detention or sale of any of its assets and revenues.

 

10.            Notices

 

Any notice, request or other
communication required or permitted hereunder shall be in writing and shall be deemed to have been duly given (i) upon personal delivery
to the party to be notified; (ii) when sent by electronic mail or facsimile if sent during normal business hours of the recipient;
if not, then on the next Business Day; or (iii) seven Business Days after deposit with an internationally recognized courier with
written verification of receipt, at the respective addresses of the parties as set forth below:

 

To Company:

 

Address: 11/F, COFCO Tower, 262 Gloucester Road, Causeway
Bay, Hong Kong

 

Tel.: 2559 9438

 

Attention: Company Secretary

 

Email: kwokp@earthasia.com.hk

 

To Holder:

 

Address: [3443 Bathurst Street, Unit 502, Toronto, Ontario,
M6A 2C3 Canada]

 

Attention: [David Subotic]

 

Email: [operations@lexinterinternational.com]

 

or to such other address or to the attention of
such other person specified by prior notice to the Company.

 

    11

    

    

 

[EXECUTION PAGE TO FOLLOW]

 

    12

    

    

 

Execution Version

 

	THE COMMON SEAL of	)	 
	 	)	 
	Earthasia International Holdings Ltd.	)	 
	 	)	 
	 	)	 
	泛 亞 環 境 國 際 控 股 有 限 公 司	)	 
	 	)	 
	was hereunto affixed	)	 
	 	)	 
	 	)	 
	in the presence of:	)	 
	 	)	 
	 	)	 
	 	)	 
	 	)	 
	 	 	 
	 	 	 
	 	 	  Name:
	 	 	 
	 	 	 
	 	 	  Title: Director

 

 

	Witness Signature:	 	 

 

	Name:	 	 

 

	Address:	 	 

 

	Occupation:	 	 

 

Warrant Execution Page

 

    

    

    

 

Execution Version

 

EXHIBIT A

 

Form of Election to Purchase Shares

 

[To Be Executed upon Exercise of Warrant]

 

TO:

 

Earthasia International Holdings Ltd.

泛 亞 環 境 國 際 控
 股 有 限 公 司

(“Company”)

 

Reference is made to Ordinary Share Purchase Warrant issued by the
Company dated [*] (the “Warrant”).

 

The undersigned hereby irrevocably elects to exercise the right,
represented by the Warrant, to purchase__________ Shares (“Exercised
Shares”).

 

Method of Exercise (Please initial the applicable blank square brackets)

 

[     ] The undersigned elects to exercise
the Warrant pursuant to Condition 2.1 of the Warrant[, and herewith tenders payment for the Exercised Shares to the order of____________________
in the amount of US$_________________ in accordance with the terms hereof.]

 

The undersigned requests that a certificate for the Warrant
Shares be registered in the name of                                    ,
whose address is                                    
and that such shares be delivered to_______________________________________ whose address is ________________________. If the number of Exercised Shares is
less than all of the Shares purchasable under the Warrant, the undersigned requests that a new Warrant representing the remaining
balance of such Shares be registered in the name of__________________________ , whose address is_______________________________, and
that such Warrant be delivered to___________________________________ , whose address
is________________________.

 

	 	Signed on behalf of the Holder by:
	 	 
	 	Name:	 
	 	 	 
	 	Title:	 
	 	 	 
	 	Signature:	 

 

    Exhibit A

     

    

 

Execution Version

 

EXHIBIT B

 

ASSIGNMENT FORM

 

[To be signed only upon transfer of Warrant]

 

I or we assign and transfer this Warrant to

 

	 	 
	 	 
	 	 

(Print
or type assignee's name and address)

 

 

	Date:	 	 

 

 

	Signature on behalf of Holder by:	 
	 	 
	Name:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Signature:	 	 

 

    Exhibit B

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