Document:

EX-10.1

 Exhibit 10.1 

SUBSCRIPTION AGREEMENT 
 CytoDyn Inc. 

1111 Main Street, Suite 660 
 Vancouver, Washington 98660 

Ladies and Gentlemen: 
 Subscription. The undersigned (the
“Purchaser”), intending to be legally bound, hereby irrevocably agrees to purchase from CytoDyn Inc., a Delaware corporation (the “Company”), in the amounts set forth on the signature page hereof, (i) shares of Series C
Convertible Preferred Stock, $0.001 par value per share of the Company (the “Series C Preferred Stock”), and (ii) a warrant, substantially in the form attached hereto as Exhibit B (the “Warrants”)
to purchase a number of shares of common stock, $0.001 par value, of the Company (the “Common Stock”), equal to 125% of the number of shares of Common Stock initially issuable upon conversion of the Series C Preferred Stock. The shares of
Series C Preferred Stock will have the relative rights, preferences and designations set forth in the Certificate of Designation of Preferences and Rights, as amended, set forth in Exhibit A attached hereto (the “Certificate of
Designation”). The Warrants will be exercisable for Warrant Shares for a 5-year period commencing at the Closing (as defined below) at an exercise price of $0.30 per share. The Series C Preferred Stock
shall be convertible into Conversion Shares at a conversion price of $0.50 per share. The Series C Preferred Stock, the shares of Common Stock issuable upon conversion of the Series C Preferred Stock (the “Conversion Shares”), the Warrants
and the shares of Common Stock issuable upon exercise of the Warrants (collectively, the “Warrant Shares”), shall be referred to collectively as the “Securities” herein. 

1. The Offering. This subscription is submitted to you in accordance with and subject to the terms and conditions described in this Subscription
Agreement relating to the offering by the Company of Series C Preferred Stock and related Warrants to certain qualifying investors including the Purchaser (the “Offering”). The closing of the Offering to which this Subscription Agreement
relates (the “Closing”) may be scheduled by the Company at any time after the execution of this Subscription Agreement. Additional Securities may have been and may continue to be offered and sold from time to time in the Offering, until
the date on which the Offering is concluded, through additional closings conducted by the Company with respect to those additional Securities sold. 
 2.
Payment. The Purchaser will immediately make a wire transfer payment to the Company pursuant to the instructions included herein in the full amount of the purchase price of the Securities being subscribed for hereby. Wire transfer
instructions are set forth on the Subscription Instructions included on the last page hereof under the heading “To subscribe for Securities in the private offering of CytoDyn Inc.” Together with a wire transfer (or, subject to the
Company’s approval in its sole discretion in lieu of a wire transfer, a check) for the full purchase price, the Purchaser is delivering a completed and executed omnibus Signature Page to this Subscription Agreement and an initialed Accredited
Investor Certification. 

 3. Acceptance of Subscription. The Purchaser understands and agrees that the Company, in its sole
discretion, reserves the right to accept or reject this or any other subscription for Securities, in whole or in part, notwithstanding prior receipt by the Purchaser of notice of acceptance of this subscription. The Company shall have no obligation
hereunder, including the issuance of the Series C Preferred Stock and the Warrants, until the Company shall execute and deliver to the Purchaser an executed copy of this Subscription Agreement. If this subscription is rejected in whole or the
Offering of Securities is terminated, all funds received from the Purchaser will be returned without interest or offset, and this Subscription Agreement shall thereafter be of no further force or effect. If this subscription is rejected in part, the
funds for the rejected portion of this subscription will be returned without interest or offset, and this Subscription Agreement will continue in full force and effect to the extent this subscription was accepted. 

4. Registration Rights.  
 (a) For the
avoidance of doubt, the Company shall use commercially reasonable efforts to prepare and file with the United States Securities and Exchange Commission (the “SEC”), within one hundred and twenty (120) days following the final closing
of the Offering, but not later than January 31, 2020, a registration statement under the Securities Act of 1933, as amended (the “Securities Act”), covering the resale of all of the Registrable Securities in an offering to be made on
a continuous basis pursuant to Rule 415 promulgated under the Securities Act (“Rule 415”). Subject to the terms of this Subscription Agreement, the Company shall use its reasonable efforts to cause such registration statement to be
declared effective under the Securities Act as promptly as possible after the filing thereof. For the purposes hereof, “Registrable Securities” means, as of any date of determination, (i) the Conversion Shares and the Warrant Shares
and (ii) any securities issued or then issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing; provided, however, that any such Registrable Securities shall cease to be
Registrable Securities (and the Company shall not be required to maintain the effectiveness of any, or file another, registration statement hereunder with respect thereto) for so long as (x) such Registrable Securities have been disposed of by
the Purchaser in accordance with such effective registration statement, (y) such Registrable Securities have been previously sold in accordance with Rule 144 promulgated under the Securities Act (“Rule 144”), or (z) such
securities become eligible for resale without volume or manner-of-sale restrictions and without current public information pursuant to Rule 144, as reasonably determined
by the Company upon the advice of counsel to the Company. For the avoidance of doubt, “Registrable Securities” shall not include any shares of Common Stock issued or issuable as Series C Preferred Dividends (as defined in the Certificate
of Designation). 
 (b) Notwithstanding the registration obligations set forth in Section 4(a), if the SEC informs the Company that not
all of the Registrable Securities can, as a result of the application of Rule 415 or other applicable regulations, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly inform the
Purchaser thereof and use its reasonable efforts to file amendments to the registration statement as required by the SEC, covering the maximum number of Registrable Securities permitted to be registered by the SEC. If the SEC or any publicly
available written or oral guidance of the SEC staff sets forth a limitation on the number of Registrable Securities permitted to be registered on a particular Registration Statement as a secondary offering, the Company shall reduce Registrable
Securities on a pro rata basis across participating investors in this Offering, in proportion to the aggregate amount of Registrable Securities to be registered by each. 

  
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 (c) In connection with the Company’s registration obligations hereunder, the Company
shall, as promptly as reasonably possible under the circumstances taking into account the Company’s good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure of such event, prepare a
supplement or amendment, including a post-effective amendment, to a registration statement or a supplement to the related prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document
so that, as thereafter delivered, neither a registration statement nor such prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading. If the Company notifies the Purchaser to suspend the use of any prospectus until the requisite changes to such prospectus have been made, then the Purchaser shall suspend use of
such prospectus. 
 (d) The Company may require each Purchaser to furnish to the Company a certified statement as to the number of shares of
Common Stock beneficially owned by the Purchaser and, to the extent applicable, the natural persons thereof that have voting and dispositive control over the shares, substantially in the form of the Selling Stockholder Notice Questionnaire attached
hereto as Exhibit C, as well as such other information about the Purchaser as may reasonably be requested by the Company to facilitate such registration. 

(e) To the extent the Purchaser includes any Registrable Securities in a registration statement pursuant to the terms hereof, the Purchaser
will indemnify and hold harmless the Company, its directors and officers and any controlling person from and against, and will reimburse the Company, its directors and officers and any controlling person with respect to, any and all loss, damage,
liability, cost, or expense to which the Company, its directors and officers or such controlling person may become subject under the Securities Act or otherwise, insofar as such losses, damages, liabilities, costs, or expenses are caused by any
untrue statement or alleged untrue statement of any material fact contained in such registration statement, any prospectus contained therein or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, in each case to the extent, but only to the extent, that such untrue
statement or alleged untrue statement or omission or alleged omission was so made in reliance upon and in conformity with information furnished by or on behalf of the Purchaser specifically for use in the preparation thereof, and provided further
that the maximum amount that may be recovered from Purchaser shall be limited to the amount of proceeds received by the Purchaser from the sale of such Registrable Securities. 

5. Restrictions on Transfer. 
 (a) The
Purchaser understands and agrees that the Securities are subject to the transfer restrictions specified in the Certificate of Designation and the Warrants, and that the Securities have not been registered under the Securities Act or the securities
laws of any state or other jurisdiction; accordingly, the Securities (including the Conversion Shares and the Warrant Shares) must be held indefinitely unless they are subsequently registered or unless, in the opinion of counsel reasonably
acceptable to the Company, a sale or transfer may be made in compliance with the provisions of the Certificate of Designation and the Warrants, as the case may be, and without registration under United States securities laws and the applicable
securities laws of any state or other jurisdiction. 

  
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 (b) The Purchaser further agrees that legends may be placed on the Securities restricting
the transfer thereof, and that appropriate notations may be made in the Company’s stock books and stop transfer instructions placed with the transfer agent of the Common Stock, each in a manner generally consistent with the foregoing. 

(c) The Purchaser is aware of the provisions of Rule 144 which, in substance, permit limited public resale of “restricted securities”
acquired by non-affiliates of the issuer thereof, directly or indirectly, from the issuer (or from an affiliate of such issuer), in a non-public offering subject to the
satisfaction of certain conditions, if applicable, including, among other things, the availability of certain public information about the Company and the resale occurring not less than six (6) months after the party has purchased and paid for
the securities to be sold. 
 (d) The Purchaser further understands that at the time the Purchaser wishes to sell Securities (including any
Conversion Shares or Warrant Shares issued or issuable upon conversion or exercise of the Series C Preferred Stock or the Warrants) there may be no public market upon which to make such a sale, and that, even if such a public market then exists, the
Company may not have filed all reports and other materials required under Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, other than Form 8-K reports, during the preceding 12
months, and that, in such event, because the Company is a former “shell company” as contemplated under paragraph (i) of Rule 144, Rule 144 will not be available to the Purchaser. 

(e) The Purchaser further understands that, because the Company is a former “shell company” as contemplated under paragraph
(i) of Rule 144, regardless of the amount of time that the Purchaser holds the Securities, sales of the Securities may only be made under Rule 144 upon the satisfaction of certain conditions, including that the Company has filed with the SEC,
during the 12 months preceding the sale, all quarterly and annual reports required under the Securities Exchange Act of 1934, as amended; and that, accordingly, any restrictive legends placed on the Securities cannot be removed except in
connection with an actual sale that is subject to an effective registration statement under, or an applicable exemption from the registration requirements of, the Securities Act, and “blanket” removals of any such restrictive legends will
not be possible. 
 (f) The Purchaser further understands that in the event all of the requirements of Rule 144 are not satisfied,
registration under the Securities Act, compliance with Regulation A promulgated under the Securities Act, or some other registration exemption will be required; and that, notwithstanding the fact that Rule 144 is not exclusive, the staff of the SEC
has expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from
registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk. 

  
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 6. Representations and Warranties. 

The Purchaser hereby acknowledges, represents, warrants, and agrees as follows: 

(a) None of the Securities offered hereby are registered under the Securities Act or the securities laws of any other state or jurisdiction.
The Purchaser understands that the offering and sale of the Securities (including the issuance of Conversion Shares and Warrant Shares, as the case may be, upon conversion or exercise of the Series C Preferred Stock or the Warrants) is intended to
be exempt from registration under the Securities Act, by virtue of Section 4(a)(2) thereof and the provisions of Regulation D (“Regulation D”) as promulgated by the SEC thereunder, based, in part, upon the representations, warranties
and agreements of the Purchaser contained in this Subscription Agreement. 
 (b) Prior to the execution of this Subscription Agreement, the
Purchaser and the Purchaser’s attorney, accountant, purchaser representative and/or tax adviser, if any (collectively, the “Advisers”), have received all documents requested by the Purchaser, have carefully reviewed them and
understand the information contained therein. 
 (c) Neither the SEC nor any state securities commission or other regulatory authority has
approved the Series C Preferred Stock, the Warrants, the Conversion Shares or the Warrant Shares, or passed upon or endorsed the merits of the offering of securities or confirmed the accuracy or determined the adequacy of the Offering. The Offering
has not been reviewed by any federal, state or other regulatory authority. 
 (d) All documents, records, and books pertaining to the
investment in the Securities have been made available for inspection by such Purchaser and its Advisers, if any. 
 (e) The Purchaser and its
Advisers, if any, have had a reasonable opportunity to ask questions of and receive answers from a person or persons acting on behalf of the Company concerning the Offering and sale of the Securities and the business, financial condition and results
of operations of the Company, and all such questions have been answered to the full satisfaction of the Purchaser and its Advisers, if any. 

(f) In evaluating the suitability of an investment in the Company, the Purchaser has not relied upon any representation or information (oral or
written) other than as stated in this Subscription Agreement. 
 (g) The Purchaser is unaware of, is in no way relying on, and did not become
aware of the Offering of the Securities through or as a result of, any form of general solicitation or general advertising including, without limitation, any article, notice, advertisement or other communication published in any newspaper, magazine
or similar media or broadcast over television, radio or the Internet (including, without limitation, internet “blogs,” bulletin boards, discussion groups and social networking sites) in connection with the Offering and sale of the
Securities and is not subscribing for the Securities and did not become aware of the Offering of the Securities through or as a result of any seminar or meeting to which the Purchaser was invited by, or any solicitation of a subscription by, a
person not previously known to the Purchaser in connection with investments in securities generally. 
 (h) The Purchaser, together with its
Advisers, if any, has such knowledge and experience in financial, tax, and business matters, and, in particular, investments in securities, so as to enable it to utilize the information made available to it in connection with the Offering to
evaluate the merits and risks of an investment in the Securities and the Company and to make an informed investment decision with respect thereto. 

  
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 (i) The Purchaser is aware that the Company has agreed to pay to Paulson Investment Company,
LLC (“Paulson”) a fee in cash equal to 9% of the gross proceeds received by the Company [from certain investors] in this Offering. Other than as relates to the fee payable to Paulson, the Purchaser has taken no action that would give rise
to any claim by any person for brokerage commissions, finders’ fees or the like relating to this Subscription Agreement or the transactions contemplated hereby. 

(j) The Purchaser is not relying on the Company or any of its respective employees or agents with respect to the legal, tax, economic and
related considerations of an investment in the Securities, and the Purchaser has relied on the advice of, or has consulted with, only its own Advisers. 

(k) The Purchaser is acquiring the Securities (including, upon conversion or exercise of the Series C Preferred Stock or the Warrants, as the
case may be, the Conversion Shares and the Warrant Shares) solely for such Purchaser’s own account for investment purposes only and not with a view to or intent of resale or distribution thereof, in whole or in part. The Purchaser has no
agreement or arrangement, formal or informal, with any person to sell or transfer all or the Series C Preferred Stock, the Warrants, the Conversion Shares or the Warrant Shares, and the Purchaser has no plans to enter into any such agreement or
arrangement. 
 (l) The Purchaser must bear the substantial economic risks of the investment in the Securities (including, upon conversion or
exercise of the Series C Preferred Stock or the Warrants, as the case may be, the Conversion Shares and the Warrant Shares) indefinitely because none of the Securities may be sold, hypothecated or otherwise disposed of unless subsequently registered
under the Securities Act and the applicable securities laws of any state or other jurisdiction or an exemption from such registration is available. Legends shall be placed on the Securities to the effect that they have not been registered under the
Securities Act or the securities laws of any state or other jurisdiction and appropriate notations thereof will be made in the Company’s stock books. Stop transfer instructions will be placed with the transfer agent of the Securities. There
will not be any assurance that such securities will be freely transferable at any time in the foreseeable future. 
 (m) The Purchaser has
adequate means of providing for such Purchaser’s current financial needs and foreseeable contingencies and has no need for liquidity from its investment in the Securities for an indefinite period of time. 

(n) The Purchaser is aware that an investment in the Securities is high risk, involving a number of very significant risks and has carefully
read and considered the matters set forth under the caption “Risk Factors” in the Company’s filings with the SEC (including the documents incorporated by reference therein) (the “SEC Filings”), and, in particular,
acknowledges that the Company has a limited operating history, significant operating losses since inception, no revenues to date and limited assets, is engaged in a highly competitive business and will need additional capital which will result in
dilution to the Purchaser if he, she, or it is not able to participate in future offerings. 

  
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 (o) The Purchaser meets the requirements of at least one of the suitability standards for an
“accredited investor” as that term is defined in Regulation D and as set forth on the Accredited Investor Certification contained herein. 

(p) The Purchaser (i) if a natural person, represents that the Purchaser has reached the age of 21 and has full power and authority to
execute and deliver this Subscription Agreement and all other related agreements or certificates and to carry out the provisions hereof and thereof; (ii) if a corporation, partnership, or limited liability company or partnership, or
association, joint stock company, trust, unincorporated organization or other entity, represents that such entity was not formed for the specific purpose of acquiring the Securities, such entity is duly organized, validly existing and in good
standing under the laws of the state of its organization, the consummation of the transactions contemplated hereby is authorized by, and will not result in a violation of state law or its charter or other organizational documents, such entity has
full power and authority to execute and deliver this Subscription Agreement and all other related agreements or certificates and to carry out the provisions hereof and thereof and to purchase and hold the securities constituting the Securities, the
execution and delivery of this Subscription Agreement has been duly authorized by all necessary action, this Subscription Agreement has been duly executed and delivered on behalf of such entity and is a legal, valid and binding obligation of such
entity; or (iii) if executing this Subscription Agreement in a representative or fiduciary capacity, represents that it has full power and authority to execute and deliver this Subscription Agreement in such capacity and on behalf of the
subscribing individual, ward, partnership, trust, estate, corporation, or limited liability company or partnership, or other entity for whom the Purchaser is executing this Subscription Agreement, and such individual, partnership, ward, trust,
estate, corporation, or limited liability company or partnership, or other entity has full right and power to perform pursuant to this Subscription Agreement and make an investment in the Company, and represents that this Subscription Agreement
constitutes a legal, valid and binding obligation of such entity. The execution and delivery of this Subscription Agreement will not violate or be in conflict with any order, judgment, injunction, agreement or controlling document to which the
Purchaser is a party or by which it is bound. 
 (q) The Purchaser and its Advisers, if any, have had the opportunity to obtain any
additional information, to the extent the Company has such information in its possession or could acquire it without unreasonable effort or expense, necessary to verify the accuracy of the information contained in the SEC Filings and all documents
received or reviewed in connection with the purchase of the Securities and have had the opportunity to have representatives of the Company provide them with such additional information regarding the terms and conditions of this particular investment
and the financial condition, results of operations, business of the Company deemed relevant by the Purchaser or its Advisers, if any, and all such requested information, to the extent the Company had such information in its possession or could
acquire it without unreasonable effort or expense, has been provided to the full satisfaction of the Purchaser and its Advisers, if any. 

(r) Any information which the Purchaser has heretofore furnished or is furnishing herewith to the Company is complete and accurate and may be
relied upon by the Company in determining the availability of an exemption from registration under federal and state securities laws in connection with the Offering and sale of the Securities. The Purchaser further represents and warrants that it
will notify and supply corrective information to the Company immediately upon the occurrence of any change therein occurring prior to the Company’s issuance of the Securities. 

  
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 (s) The Purchaser has significant prior investment experience, including investment in non-listed and non-registered securities. The Purchaser is knowledgeable about investment considerations in development-stage companies with limited operating histories. The
Purchaser has a sufficient net worth to sustain a loss of its entire investment in the Company in the event such a loss should occur. The Purchaser’s overall commitment to investments which are not readily marketable is not excessive in view of
the Purchaser’s net worth and financial circumstances and the purchase of the Securities will not cause such commitment to become excessive. The investment in the Securities is a suitable one for the Purchaser. 

(t) The Purchaser is satisfied that the Purchaser has received adequate information with respect to all matters which it or its Advisers, if
any, consider material to its decision to make this investment. 
 (u) The Purchaser acknowledges that any estimates or forward-looking
statements or projections included in the SEC Filings (including the documents incorporated by reference therein) were prepared by the Company in good faith but that the attainment of any such projections, estimates or forward-looking statements
cannot be guaranteed by the Company and should not be relied upon. 
 (v) No oral or written representations have been made, or oral or
written information furnished, to the Purchaser or its Advisers, if any, in connection with the Offering which are in any way inconsistent with the information contained in this Subscription Agreement. 

(w) Within five (5) days after receipt of a request from the Company, the Purchaser will provide such information and deliver such
documents as may reasonably be necessary to comply with any and all laws and ordinances to which the Company is subject. 
 (x) THE
SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. THE SECURITIES ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION
REQUIREMENTS OF SAID ACT AND SUCH LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM.
THE SECURITIES HAVE NOT BEEN RECOMMENDED, APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE
MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE MEMORANDUM OR THIS SUBSCRIPTION AGREEMENT. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL. 

  
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 (y) In making an investment decision investors must rely on their own examination of the
Company and the terms of the Offering and sale of the Securities, including the merits and risks involved. The Purchaser should be aware that it will be required to bear the financial risks of this investment for an indefinite period of time. 

(z) (For ERISA plans only) The fiduciary of the ERISA plan (the “Plan”) represents that such fiduciary has been informed of
and understands the Company’s investment objectives, policies and strategies, and that the decision to invest “plan assets” (as such term is defined in ERISA) in the Company is consistent with the provisions of ERISA that require
diversification of plan assets and impose other fiduciary responsibilities. The Purchaser fiduciary or Plan (1) is responsible for the decision to invest in the Company; (2) is independent of the Company or any of its affiliates;
(3) is qualified to make such investment decision; and (4) in making such decision, the Purchaser fiduciary or Plan has not relied primarily on any advice or recommendation of the Company or any of its affiliates. 

(aa) The Purchaser should check the Office of Foreign Assets Control (“OFAC”) website at <http://www.treas.gov/ofac> before
making the following representations. The Purchaser represents that the amounts invested by it in the Company in the Offering were not and are not directly or indirectly derived from activities that contravene federal, state or international
laws and regulations, including anti-money laundering laws and regulations. Federal regulations and Executive Orders administered by OFAC prohibit, among other things, the engagement in transactions with, and the provision of services to, certain
foreign countries, territories, entities and individuals. The lists of OFAC prohibited countries, territories, persons and entities can be found on the OFAC website at <http://www.treas.gov/ofac>. In addition, the programs administered by OFAC
(the “OFAC Programs”) prohibit dealing with individuals1 or entities in certain countries regardless of whether such individuals or entities appear on the OFAC lists. 

(bb) To the best of the Purchaser’s knowledge, none of: (1) the Purchaser; (2) any person controlling or controlled by the
Purchaser; (3) if the Purchaser is a privately-held entity, any person having a beneficial interest in the Purchaser; or (4) any person for whom the Purchaser is acting as agent or nominee in connection with this investment is a country,
territory, individual or entity named on an OFAC list, or a person or entity prohibited under the OFAC Programs. Please be advised that the Company may not accept any amounts from a prospective investor if such prospective investor cannot make the
representation set forth in the preceding paragraph. The Purchaser agrees to promptly notify the Company should the Purchaser become aware of any change in the information set forth in these representations. The Purchaser understands and
acknowledges that, by law, the Company may be obligated to “freeze the account” of the Purchaser, either by prohibiting additional subscriptions from the Purchaser, declining any redemption requests and/or segregating the assets in the
account in compliance with governmental regulations. The Purchaser further acknowledges that the Company may, by written notice to the Purchaser, suspend the redemption rights, if any, of the Purchaser if the Company reasonably deems it necessary to
do so to comply with anti-money laundering regulations applicable to the Company or any of the Company’s other service providers. These individuals include specially designated nationals, specially designated narcotics traffickers and other
parties subject to OFAC sanctions and embargo programs. 
  

	1 	 These individuals include specially designated nationals, specially designated narcotics traffickers and other
parties subject to OFAC sanctions and embargo programs. 

  
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 (cc) To the best of the Purchaser’s knowledge, none of: (1) the Purchaser;
(2) any person controlling or controlled by the Purchaser; (3) if the Purchaser is a privately-held entity, any person having a beneficial interest in the Purchaser; or (4) any person for whom the Purchaser is acting as agent or
nominee in connection with this investment is a senior foreign political figure,2 or any immediate family3 member or close associate4 of a senior
foreign political figure, as such terms are defined in the footnotes below. 
 (dd) If the Purchaser is affiliated with a non-U.S. banking institution (a “Foreign Bank”), or if the Purchaser receives deposits from, makes payments on behalf of, or handles other financial transactions related to a Foreign Bank, the Purchaser
represents and warrants to the Company that: (1) the Foreign Bank has a fixed address, other than solely an electronic address, in a country in which the Foreign Bank is authorized to conduct banking activities; (2) the Foreign Bank
maintains operating records related to its banking activities; (3) the Foreign Bank is subject to inspection by the banking authority that licensed the Foreign Bank to conduct banking activities; and (4) the Foreign Bank does not provide
banking services to any other Foreign Bank that does not have a physical presence in any country and that is not a regulated affiliate. 

(ee) Each of the Purchaser and its affiliates is, and since its formation has been, in compliance with applicable law in all material respects,
including applicable Securities Laws, and including in respect of the Offering, the solicitation of investments in the Offering, and the other transactions contemplated hereby. For purposes of the foregoing, “Securities Laws” means the
Securities Act, the Securities Exchange Act of 1934, as amended (including Section 15(a) thereof), the Investment Advisers Act of 1940, as amended, the Investment Company Act of 1940, as amended, the applicable securities laws of any state or
foreign jurisdiction, and any applicable rules and regulations promulgated under any of the foregoing. 
 7. Indemnification. The Purchaser agrees to
indemnify and hold harmless the Company and each of its respective officers, directors, employees, agents, control persons and affiliates from and against all losses, liabilities, claims, damages, costs, fees and expenses whatsoever (including, but
not limited to, any and all expenses incurred in investigating, preparing or defending against any litigation commenced or threatened) based upon or arising out of any actual or alleged false acknowledgment, representation or warranty, or
misrepresentation or omission to state a material fact, or breach by the Purchaser of any covenant or agreement made by the Purchaser herein or in any other document delivered in connection with this Subscription Agreement. 

 

	2 	 A “senior foreign political figure” is defined as a current or former senior official in the
executive, legislative, administrative, military or judicial branches of a foreign government (whether elected or not), a senior official of a major foreign political party, or a senior executive of a foreign government-owned corporation. In
addition, a “senior foreign political figure” includes any corporation, business or other entity that has been formed by, or for the benefit of, a senior foreign political figure. 

	3 	 “Immediate family” of a senior foreign political figure typically includes the figure’s parents,
siblings, spouse, children and in-laws. 

	4 	 A “close associate” of a senior foreign political figure is a person who is widely and publicly known
to maintain an unusually close relationship with the senior foreign political figure, and includes a person who is in a position to conduct substantial domestic and international financial transactions on behalf of the senior foreign political
figure. 

  
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 8. Irrevocability; Binding Effect. The Purchaser hereby acknowledges and agrees that the subscription
hereunder is irrevocable by the Purchaser, except as required by applicable law, and that this Subscription Agreement shall survive the death or disability of the Purchaser and shall be binding upon and inure to the benefit of the parties and their
heirs, executors, administrators, successors, legal representatives, and permitted assigns. If the Purchaser is more than one person, the obligations of the Purchaser hereunder shall be joint and several and the agreements, representations,
warranties, and acknowledgments herein shall be deemed to be made by and be binding upon each such person and such person’s heirs, executors, administrators, successors, legal representatives, and permitted assigns. 

9. Modification. This Subscription Agreement shall not be modified or waived except by an instrument in writing signed by the party against whom any
such modification or waiver is sought. 
 10. Notices. Any notice or other communication required or permitted to be given hereunder shall be in
writing and shall be mailed by certified mail, return receipt requested, or delivered against receipt to the party to whom it is to be given (a) if to the Company, at the address set forth above, or (b) if to the Purchaser, at the address
set forth on the signature page hereof (or, in either case, to such other address as the party shall have furnished in writing in accordance with the provisions of this Section 11). Any notice or other communication given by certified mail
shall be deemed given at the time of certification thereof, except for a notice changing a party’s address which shall be deemed given at the time of receipt thereof. If any notice is delivered by fax or email to a party, it will be deemed to
have been delivered on the date the fax or email thereof is actually received, provided the original thereof is sent by certified mail, in the manner set forth above, within twenty-four (24) hours after the fax or email is sent. 

11. Assignability. This Subscription Agreement and the rights, interests and obligations hereunder are not transferable or assignable by the Purchaser
and the transfer or assignment of the Series C Preferred Stock, the Warrants, the Conversion Shares or the Warrant Shares, as the case may be, shall be made only in accordance with the respective requirements of this Subscription Agreement, the
Certificate of Designation, the Warrants and all applicable laws. Any purported transfer or assignment in violation of this Section 12 shall be null and void. 

12. Applicable Law. This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to
contracts to be wholly performed within said State. 
 13. Arbitration. The parties agree to submit all controversies to arbitration in accordance
with the provisions set forth below and understand that: 
 (a) Arbitration is final and binding on the parties. 

(b) The parties are waiving their right to seek remedies in court, including the right to a jury trial. 

  
 11 

 (c) Pre-arbitration discovery is generally more
limited and different from court proceedings. 
 (d) The arbitrator’s award is not required to include factual findings or legal
reasoning and any party’s right to appeal or to seek modification of rulings by arbitrators is strictly limited. 
 (e) The panel of
arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry. 
 (f) All
controversies which may arise between the parties concerning this Subscription Agreement shall be determined by arbitration in New York, New York. Judgment on any award of any such arbitration may be entered in any court having jurisdiction of the
person or persons against whom such award is rendered. Any notice of such arbitration or for the confirmation of any award in any arbitration shall be sufficient if given in accordance with the provisions of this Subscription Agreement. The
parties agree that the determination of the arbitrators shall be binding and conclusive upon them. 
 14. Blue Sky Qualification. The purchase of
Securities under this Subscription Agreement is expressly conditioned upon the exemption from qualification of the offer and sale of the Securities from applicable federal and state securities laws. The Company shall not be required to qualify this
transaction under the securities laws of any jurisdiction and, should qualification be necessary, the Company shall be released from any and all obligations to maintain its offer, and may rescind any sale contracted, in the jurisdiction. 

15. Use of Pronouns. All pronouns and any variations thereof used herein shall be deemed to refer to the masculine, feminine, neuter, singular or
plural as the identity of the person or persons referred to may require. 
 16. Confidentiality. 

(a) The Purchaser acknowledges and agrees that any information or data the Purchaser has acquired from or about the Company, not otherwise
properly in the public domain, was received in confidence. The Purchaser agrees not to divulge, communicate or disclose, except as may be required by law or for the performance of this Subscription Agreement, or use to the detriment of the Company
or for the benefit of any other person or persons, or misuse in any way, any confidential information of the Company, including any scientific, technical, trade or business secrets of the Company and any scientific, technical, trade or business
materials that are treated by the Company as confidential or proprietary, including, but not limited to, ideas, discoveries, inventions, developments and improvements belonging to the Company and confidential information obtained by or given to the
Company about or belonging to third parties. 
 (b) The Purchaser acknowledges and agrees that certain information provided by the Company in
connection with the Offering may constitute material non-public information under United States or other applicable securities laws, and that the receipt of such information, if deemed to be material non-public information, may restrict the Purchaser’s ability to trade in securities of the Company, including but not limited to the Series C Preferred Stock, the Conversion Shares, the Warrant Shares or any
other shares of Common Stock of the Company, until such time as the information is made public. The Company undertakes no obligation to make public disclosure of such information at any time, other than as may be required under applicable United
States securities laws. 

  
 12 

 17. Miscellaneous. 

(a) This Subscription Agreement constitutes the entire agreement between the Purchaser and the Company with respect to the subject matter
hereof and supersedes all prior oral or written agreements and understandings, if any, relating to the subject matter hereof. The terms and provisions of this Subscription Agreement may be waived, or consent for the departure therefrom granted, only
by a written document executed by the party entitled to the benefits of such terms or provisions. 
 (b) The representations and warranties
of the Company and the Purchaser made in this Subscription Agreement shall survive the execution and delivery hereof and delivery of the Series C Preferred Stock and the Warrants. 

(c) Each of the parties hereto shall pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others
engaged by such party) in connection with this Subscription Agreement and the transactions contemplated hereby whether or not the transactions contemplated hereby are consummated. 

(d) This Subscription Agreement may be executed in one or more counterparts each of which shall be deemed an original, but all of which shall
together constitute one and the same instrument. 
 (e) Each provision of this Subscription Agreement shall be considered separable and, if
for any reason any provision or provisions hereof are determined to be invalid or contrary to applicable law, such invalidity or illegality shall not impair the operation of or affect the remaining portions of this Subscription Agreement. 

(f) Paragraph titles are for descriptive purposes only and shall not control or alter the meaning of this Subscription Agreement as set forth
in the text. 
 (g) The Purchaser understands and acknowledges that there may be multiple closings for this Offering. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 13 

 PRIVATE PLACEMENT OFFERING OF 

CYTODYN INC. 

SUBSCRIPTION INSTRUCTIONS 
 To
subscribe for Securities in the private offering of CytoDyn Inc.: 
  

	1.	 Date and Fill in the number of Securities being purchased and Complete and Sign one (1) copy
of the Subscription Agreement. 

  

	2.	 Initial the Accredited Investor Certification page attached to the Subscription Agreement.

  

	3.	 E-mail all forms to Michael Mulholland or Craig Eastwood at
mmulholland@cytodyn.com or ceastwood@cytodyn.com then send all signed original documents to: 

 CytoDyn Inc.

 1111 Main Street, Suite 660 

Vancouver, Washington 98660 

Attention: Michael Mulholland 

(360) 980-8524 
  

	4.	 Please wire funds directly to the Company pursuant to the following instructions (unless other arrangements
have been made): 

 Bank Name: [***] 

Bank Address: [***] 

ABA Number: [***] 
 A/C
Name:    CytoDyn Inc. 
 A/C Number: [***] 

FBO: Investor Name
                                        
             
 Address
                                         
                                

 CYTODYN INC. 

SIGNATURE PAGE TO THE 

SUBSCRIPTION AGREEMENT 
 Subscriber
hereby elects to subscribe under the Subscription Agreement for a total of 
 (1)
             (                        ) shares of
Series C Convertible Preferred Stock with an aggregate purchase price of $                    . [Aggregate purchase price / $1,000 per share]
and 
 (2) Warrants exercisable for
                 (___________) shares of Common Stock [(1 x $1,000) / 0.4] 

(NOTE: to be completed by subscriber) and executes the Subscription Agreement. 

If the Purchaser is an INDIVIDUAL, and if purchased as JOINT TENANTS, as TENANTS IN COMMON, or as COMMUNITY PROPERTY: 

 

					
	 	 		 	 
	Print Name(s)	 		 	Social Security Number(s)
	 	 		 	 
	Signature(s) of Subscriber(s)	 		 	Signature
	 	 	                	 	 
	Date	 		 	Address

 If the Purchaser is a PARTNERSHIP, CORPORATION, LIMITED LIABILITY COMPANY or TRUST: 

 

					
	 	 		 	 
	Name of Partnership,	 		 	Federal Taxpayer
	Corporation, Limited	 	                	 	Identification Number
	Liability Company or Trust	 		 	

  

											
	By:	 	 	 		 		 		 	 
		 	Name:	 		 	    	 		 	State of Organization
		 	Title:	 		 		 		 	
					
	 	 		 		 		 	 
	Date	 		 		 		 		 	Address

  

			
	Accepted and agreed:
	
	CYTODYN INC.
		
	By:	 	 
		 	Michael D. Mulholland

 CYTODYN INC. 

ACCREDITED INVESTOR CERTIFICATION 

For Individual Investors Only 

(all Individual Investors must INITIAL where appropriate): 

 

			
		
	Initial _______	  	I have an individual net worth, or joint net worth with my spouse, as of the date hereof in excess of $1 million. For purposes of calculating net worth under this category, (i) the undersigned’s primary residence
shall not be included as an asset, (ii) indebtedness that is secured by the undersigned’s primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall not be included as a
liability, (iii) to the extent that the indebtedness that is secured by the primary residence is in excess of the fair market value of the primary residence, the excess amount shall be included as a liability, and (iv) if the amount of
outstanding indebtedness that is secured by the primary residence exceeds the amount outstanding 60 days prior to the execution of this Subscription Agreement, other than as a result of the acquisition of the primary residence, the amount of such
excess shall be included as a liability.
		
	Initial _______	  	I have had an annual gross income for the past two years of at least $200,000 (or $300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach the same level in the current year.
		
	Initial _______	  	I am a director or executive officer of CytoDyn Inc.
	
	For Non-Individual Investors
	(all Non-Individual Investors must INITIAL where appropriate):
		
	Initial _______	  	The investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual Investors set forth above.
		
	Initial _______	  	The investor certifies that it is a partnership, corporation, limited liability company or any organization described in Section 501(c)(3) of the Internal Revenue Code, Massachusetts or similar business trust that has total
assets of at least $5 million and was not formed for the purpose of investing the Company.
		
	Initial _______	  	The investor certifies that it is an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a
bank, savings and loan association, insurance company or registered investment adviser.
		
	Initial _______	  	The investor certifies that it is an employee benefit plan whose total assets exceed $5,000,000 as of the date of this Subscription Agreement.

			
		
	Initial _______	  	The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet either of the criteria for Individual Investors.
		
	Initial _______	  	The investor certifies that it is a U.S. bank, U.S. savings and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.
		
	Initial _______	  	The undersigned certifies that it is a broker-dealer registered pursuant to §15 of the Securities Exchange Act of 1934.
		
	Initial _______	  	The investor certifies that it is an organization described in §501(c)(3) of the Internal Revenue Code with total assets exceeding $5,000,000 and not formed for the specific purpose of investing in the Company.
		
	Initial _______	  	The investor certifies that it is a trust with total assets of at least $5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a person with such knowledge and experience in
financial and business matters that he is capable of evaluating the merits and risks of the prospective investment.
		
	Initial _______	  	The investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees, and which has total assets in excess of
$5,000,000.
		
	Initial _______	  	The investor certifies that it is an insurance company as defined in §2(13) of the Securities Act, or a registered investment company.
		
	Initial _______	  	An investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act.
		
	Initial _______	  	A Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.
		
	Initial _______	  	A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.

 EXHIBIT A 

CERTIFICATE OF DESIGNATION 

 EXHIBIT B 

FORM OF WARRANT 

 EXHIBIT C 

SELLING STOCKHOLDER 

NOTICE AND QUESTIONNAIRE 

The undersigned is the beneficial owner of certain Securities of CytoDyn Inc., a Delaware corporation (the “Company”), issued in
accordance with the terms of the Subscription Agreement (the “Subscription Agreement”) to which the form of this Notice and Questionnaire was originally annexed. 

The undersigned understands that the Company has filed or intends to file with the Securities and Exchange Commission (the
“Commission”) a registration statement (the “Registration Statement”) to register, under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), the resale of the Conversion Shares and/or the Warrant
Shares (collectively, the “Registrable Securities”) beneficially owned by the undersigned. 
 All capitalized terms not otherwise
defined herein shall have the meanings ascribed thereto in the Subscription Agreement. A copy of the Subscription Agreement is available from the Company upon written request at the following address: 

CytoDyn Inc. 
 1111 Main Street,
Suite 660 
 Vancouver, Washington 98660. 

Certain legal consequences arise from being named as a selling stockholder in the Registration Statement and related prospectus. Accordingly,
holders and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling stockholder in the Registration Statement and related
prospectus. 
 The undersigned beneficial owner of Registrable Securities (the “Selling Stockholder”) hereby elects to include the
Registrable Securities owned by it in the Registration Statement. 

  
 C-1 

 The undersigned hereby provides the following information to the Company and represents and
warrants that such information is accurate: 
 SELLING STOCKHOLDER QUESTIONNAIRE 

 

	1.	 Name. 

Full Legal Name of Selling Stockholder: 

Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities are held: 

Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly alone or with others has power to vote or
dispose of the securities covered by this Questionnaire): 
  

	2.	 Address for Notices to Selling Stockholder: 

Telephone: 
 Fax: 

Contact Person: 
  

	3.	 Broker-Dealer Status: 

 

	 	(a)	 Are you a broker-dealer? 

Yes  ☐    No  ☐ 
  

	 	(b)	 If “yes” to Section 3(a), did you receive your Registrable Securities as compensation for
investment banking services to the Company? 

 Yes  ☐    No  ☐ 

Note: If “no” to Section 3(b), the Commission’s staff has indicated that you should he identified as an underwriter in
the Registration Statement. 

  
 C-2 

	 	(c)	 Are you an affiliate of broker-dealer? 

Yes  ☐    No  ☐ 
  

	 	(d)	 If “yes” to Section 3(c), do you certify that you purchased the Registrable Securities in the
ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements or understandings, directly or indirectly, with any person to distribute the Registrable Securities?

 Yes  ☐    No  ☐ 

Note: If “no” to Section 3(d), the Commission’s staff has indicated that you should be identified as an underwriter in
the Registration Statement. 
  

	4.	 Beneficial Ownership of Securities of the Company Owned by the Selling Stockholder.

 Except as set forth below in this Item 4, the undersigned is not the beneficial or registered owner of any
securities of the Company other than the securities issuable pursuant to the Subscription Agreement. 
 Type and amount of other
securities beneficially owned by the Selling Stockholder: 
  

	5.	 Relationships with the Company: 

Except as set forth below, neither the undersigned nor any of its affiliates, officers, directors or principal equityholders (owners of 5%
of more of the equity securities of the undersigned) has held any position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years. 

  
 C-3 

 State any exceptions here: 

The undersigned agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur
subsequent to the date hereof at any time while the Registration Statement remains effective. 
 By signing below, the undersigned consents
to the disclosure of the information contained herein in its answers to Items 1 through 5 and the inclusion of such information in the Registration Statement and related prospectus and any amendments or supplements thereto. The
undersigned understands that such information will be relied upon by the Company in connection with the preparation or amendment of the Registration Statement and related prospectus and any amendments or supplements thereto. 

IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in
person or by its duly authorized agent. 
  

					
	Date:
                                        
	 	Beneficial Owner:
                                    
			
		 	By:	 	        
		 		 	Name:
		 		 	Title:

  
 C-4Exhibit

Exhibit 10.3

RETIREMENT AGREEMENT

This Retirement Agreement (“Agreement”) is made and entered into as of the 5th day of September, 2019, by and between Highwoods Properties, Inc., a Maryland corporation (“Highwoods” or the “Company”), and Edward J. Fritsch, an at-will employee of the Company (“Employee”).
WHEREAS, the effective date of Employee’s retirement from employment with Highwoods is September 1, 2019 (the “Retirement Date”); and
WHEREAS, Employee and Highwoods wish to set forth the terms and conditions of Employee’s retirement from employment, as well as resolve any disputes and claims which Employee could potentially have arising from the employment of Employee by Highwoods and the ending of that employment; and
WHEREAS, Employee and Highwoods wish to provide for Employee’s ability to perform his nonprofit civic activities after retirement with the reasonable administrative support of Highwoods.
NOW THEREFORE, in consideration of the mutual promises and agreements contained in this Agreement, Employee and Highwoods agree as follows:
1.    Highwoods’ Agreements:
(a)    Employee shall receive earned but unpaid pay through the Retirement Date, along with payment for any accrued but unused vacation, less applicable deductions and withholdings, payable on the next regularly scheduled bi-weekly pay date following the Retirement Date. Highwoods will continue Employee’s health insurance benefits through the Retirement Date. In addition, subject to Employee’s continuing compliance with his agreements under Section 2 of this Agreement, Highwoods acknowledges and confirms that Employee is eligible for benefits under the Company’s Retirement Plan, which was adopted and became effective as of March 1, 2006.  Without limitation of the foregoing, subject to Employee’s continuing compliance with his agreements under Section 2 of this Agreement, (i) the Exercisability Benefit shall apply to all Stock Options held by Employee as of the Retirement Date and (ii) the Vesting Benefit shall apply to all shares of Time-Based Restricted Stock and Performance-Based Restricted Stock held by Employee as of the Retirement Date.  Highwoods further acknowledges that the Committee has provided Consent to a waiver by Highwoods of the requirement that Employee provide a Notice of Intent to Retire at least 12 calendar months prior to the Retirement Date.  Capitalized terms used but not defined herein shall have the meaning set forth in the Retirement Plan.
(b)    (i)    If Employee timely elects and timely submits all necessary paperwork to the appropriate entity for continuing healthcare coverage through COBRA, Highwoods shall cover the cost of such COBRA coverage from the Retirement Date through March 1, 2021 for Employee, Employee’s spouse, and each of Employee’s dependents unless and until any such dependent’s 26th birthday.  It is and shall remain Employee’s obligation to timely elect and timely submit all necessary paperwork to the appropriate entity for the COBRA coverage. Highwoods shall provide Employee with access to and support from Highwoods employees who will provide guidance to Employee on deadlines by which he must elect COBRA, the process, methods, and forms to elect COBRA, and to answer questions Employee may have about the COBRA election and payment processes.

1

(ii)    On March 1, 2021, and on each March 1 thereafter, the Company shall make a cash payment to Employee equal to the premium to be paid by Employee for one year of health plan coverage for Employee, Employee’s spouse, and each of Employee’s dependents that are under 26 years of age, that is the most commercially reasonable coverage that closely aligns with the health plan coverage provided to Employee, Employee’s spouse, and Employee’s dependents on the Retirement Date (as reasonably determined in good faith by the Company in consultation with Employee, but in no event less than the premium that would apply if the coverage for such period were provided under COBRA).  Notwithstanding the foregoing, if any of Employee, Employee’s spouse, or Employee’s dependents is expected to become eligible for Medicare during any such one-year period, the payment for such period shall be reduced to reflect that coverage for such individual is intended to continue only through the date he or she becomes eligible for Medicare.  In the event of Employee’s death prior to the cessation of payments under this Section 1(b)(ii), such payments shall continue to be made with respect to coverage for Employee’s spouse and each of Employee’s dependents that are under 26 years of age.
(iii)    Any and all payments made by the Company under subsection (ii) shall be grossed-up for federal and state tax purposes, with such gross-up being paid at the same time as the payments described above.  If the Company determines that the benefits provided to Employee under subsection (i) are taxable to the Employee pursuant to Section 105(h) of the Internal Revenue Code or otherwise, the Company shall gross-up the taxable value of such benefits for federal and state tax purposes, with such gross-ups being paid on March 1, 2020 and March 1, 2021, as applicable.
(c)    On the Retirement Date, Highwoods will transfer to Employee the following motor vehicle:
	
				
	 
	Make:
	 
	Chevrolet

	 
	Model:
	 
	Silverado

	 
	Body Type:
	 
	Pickup Truck

	 
	Year:
	 
	2015

	 
	VIN:
	 
	3GCPCTE02CG292038

Employee takes the vehicle “as-is” without any warranties, express or implied, as to its condition.  The parties agree that the fair market value of the vehicle as of the Retirement Date is $15,290.00 (using the appraised value of the vehicle according to the Wake County Revenue Department).  Employee understands that such fair market value will be reflected on Employee’s W-2 for the 2019 calendar year.
(d)    After Employee’s retirement, Highwoods shall continue to provide Employee, for an indefinite duration, reasonable administrative support to aid Employee in performing his nonprofit civic activities, including information technology and marketing administrative support; provided, however, that (i) such administrative support does not materially interfere with any Highwoods activities and (ii) Highwoods shall not be required to incur any expenses related thereto other than routine ordinary expenses for personnel and technology that Highwoods would reasonably incur regardless of the support provided to Employee. Highwoods acknowledges and agrees Employee may continue to refer to Highwoods and to Employee’s roles with Highwoods in the performance of his nonprofit civic activities. In addition, Highwoods shall continue to provide Employee with access to information in the Company’s possession regarding his holdings of outstanding common stock, restricted stock and stock options.
(e)    Full and General Release of Liability:  In consideration of this Agreement, and the promises provided for in Section 2, the sufficiency of which is hereby acknowledged, Highwoods hereby forever WAIVES, RELEASES, AND DISCHARGES Employee from any and all liability, actions, claims, 

2

demands, or lawsuits in law or in equity which Highwoods may have had, presently has, or in the future may have, against Employee by reason of any act, omission, transaction or event from the beginning of time through the date of this Agreement, including but not limited to those arising out of or relating to Employee’s employment with Highwoods, provided, however, that Highwoods is not releasing Employee from any claims arising from facts or circumstances which Employee has concealed from Highwoods or from any claims arising from any criminal or fraudulent acts or omissions by Employee.  This release, waiver and discharge applies to any and all claims against Employee, known or unknown, arising under contract or under federal, state, or local statutory or common (including civil tort) law, which have been asserted or which could have been asserted to the maximum extent permitted by law, without limitation or exception, other than for breach of this Agreement.
It is expressly understood and agreed by the parties that this Agreement is in full accord, satisfaction, and discharge of any and all doubtful or disputed claims by Highwoods against Employee, and this Agreement has been signed with the express intent of extinguishing all claims, obligations, actions, or causes of action as herein described.
2.    Employee’s Agreements:
(a)    Full and General Release of Liability:  In consideration of this Agreement, and the benefits and promises provided for in Section 1, the sufficiency of which is hereby acknowledged, Employee hereby forever WAIVES, RELEASES, AND DISCHARGES Highwoods and all of its current and past insurers, attorneys, fiduciaries, current and former officers, directors, partners, employees, agents, successors, assigns, subsidiary and parent companies, and all other entities affiliated with or related to it, without limitation, exception, or reservation (collectively, the “Released Parties”), from any and all liability, actions, claims, demands, or lawsuits in law or in equity which Employee may have had, presently has, or in the future may have, against any one or all of the Released Parties by reason of any act, omission, transaction or event from the beginning of time through the date of this Agreement, including but not limited to those arising out of or relating to Employee’s employment with Highwoods.  This release, waiver and discharge applies to any and all claims against Highwoods, known or unknown, arising under contract or under federal, state, or local statutory or common (including civil tort) law, which have been asserted or which could have been asserted including, but not limited to, any and all claims of race, sex, national origin, religious, disability, or age discrimination, harassment and/or retaliation under Title VII of the Civil Rights Act of 1964 (as amended), the Civil Rights Act of 1991, the Older Workers Benefit Protection Act, 42 U.S.C. § 1981, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the Rehabilitation Act, any claims pursuant to the Family and Medical Leave Act, the Equal Pay Act, the Occupational Safety and Health Act, the Employee Retirement Income Security Act (“ERISA”), the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), 42 U.S.C. § 1983, 42 U.S.C. § 1988, any claims of retaliation pursuant to the Fair Labor Standards Act and/or North Carolina Workers’ Compensation Act, state statutory and common law, including but not limited to any claims for breach of contract, tortious interference with business expectancy, outrage, negligent infliction of emotional distress, defamation, and/or wrongful discharge in violation of public policy, and any other federal, state, or local laws, including common law, to the maximum extent permitted by law, without limitation or exception, other than for breach of this Agreement.
Employee also understands and agrees that this Agreement extinguishes all claims, whether known or unknown, foreseen or unforeseen, and expressly waives any rights or benefits under any law or judicial decision that provides in substance or effect that a general release does not extend to claims that the creditor does not know or suspect to exist in his favor at the time of executing the general release.
It is expressly understood and agreed by the parties that this Agreement is in full accord, satisfaction, and discharge of any and all doubtful or disputed claims by Employee against the Released Parties, and this 

3

Agreement has been signed with the express intent of extinguishing all claims, obligations, actions, or causes of action as herein described.
Highwoods hereby acknowledges that nothing herein shall be construed in any way to limit its obligations to indemnify Employee as more fully set forth in Article IX of the Company’s Amended and Restated Charter, which is attached as Schedule 2(a). The Company hereby affirms that its obligations to indemnify Employee to the extent set forth in Article IX of the Company’s Amended and Restated Charter shall continue after the Retirement Date for an infinite duration.
(b)    Return of Highwoods’ Property:  Employee understands and agrees that on or before the Retirement Date, he will turn over to Highwoods all originals and all copies of all lists, files, memoranda, records, reports, credit cards, policies, handbooks, and other documents or information, whether tangible, on computer or otherwise, which Employee received from Highwoods which is the property of Highwoods or which Employee prepared, copied or caused to be prepared or copied, or otherwise received in connection with Employee’s employment with Highwoods; provided, however, that Employee may retain the personal mobile device and laptop computer currently used by Employee in the course of his employment.  Subsequent to the Retirement Date, notwithstanding his retention of such technology equipment, Employee shall have no access to the Company’s technology networks and other systems (except Employee shall be permitted continued use of his ed.fritsch@highwoods.com e-mail account for 45 days subsequent to the Retirement Date in the manner and subject to the conditions imposed by the Company’s Chief Information Officer). Any requests for reimbursement of business-related expenses incurred by Employee during the course of Employee’s employment must be submitted to Highwoods in accordance with existing policies and procedures of Highwoods no later than December 31, 2019.
(c)    Confidential Business Information:  Employee acknowledges that Employee knows confidential business information relating to Highwoods and its affiliated and related entities and their respective operations that is proprietary in nature, confidential to Highwoods, and not generally known to the public.  Such “confidential business information” includes information, whether obtained in writing, in conversation, or otherwise, concerning corporate strategy, intent and plans, business operations, financing, customers and potential customers, customer leases, pricing, costs, budgets, equipment, the status, scope and terms of pending negotiations, transactions, contracts and obligations, and corporate and financial reports. Such confidential and/or trade secret information does not, however, include information in the public domain unless Employee has, without authority, made it public.  For so long as the information remains confidential, Employee agrees: (1) not to disclose such information to anyone; (2) to keep such information confidential; (3) to take appropriate precautions to maintain the confidentiality of such information; and (4) not to use such information for personal benefit or the benefit of any customer or competitor of Highwoods or any other person.  If Employee is required to disclose information pursuant to a court order or other government process or such disclosure is necessary to comply with applicable law or defend against such claims, then Employee shall: (a) notify Highwoods promptly before any such disclosure is made; (b) at Highwoods’ request and expense, take all reasonably necessary steps to defend against such process or claims; and (c) refrain from opposing Highwoods’ participation with counsel of its choice in any proceeding relating to any such court order, other government process or claims.  
(d)    Employee Acknowledgements:  Employee acknowledges that as of the date Employee signed this Agreement, Employee: (1) has not suffered a work-related injury that has not be properly disclosed to Highwoods; (2) has been paid in full all wages due and owing to Employee for any and all work performed for Highwoods (except for wages scheduled to be paid to Employee in the next succeeding payroll period); (3) has not exercised any actual or apparent authority by or on behalf of Highwoods; (4) to Employee’s knowledge, Employee has not entered into any agreements, whether written or otherwise, with any of Highwoods’ employees (current and former) and/or third parties that could legally bind Highwoods that were 

4

beyond the scope of Employee’s authority in his role with Highwoods or which were wrongfully concealed from Highwoods by Employee.
(e)    Non-Disparagement:  Employee agrees that Employee will not make disparaging statements of any nature whatsoever about Highwoods and/or any of the Released Parties. Highwoods will not make disparaging statements of any nature whatsoever about Employee.  Each of the parties agrees and acknowledges that any material violation of or failure to perform the agreements set forth in this section by the other party shall constitute a breach of this Agreement.
(f)    Non-Interference:  Nothing in this Agreement shall interfere with Employee’s right to file a charge, cooperate or participate in an investigation or proceeding conducted by the Equal Employment Opportunity Commission, the North Carolina Department of Labor or any other federal, state or local regulatory or law enforcement agency.  However, the consideration provided to Employee in this Agreement shall be the sole relief provided to Employee for the claims that are released by the Employee in this Agreement, and Employee will not be entitled to recover and agrees to waive any monetary benefits or recovery against the Company and/or the other Released Parties in connection with any such charge or proceeding without regard to who has brought such charge or complaint.
(g)    Non-Competition:  Except as otherwise herein, until such time as Employee no longer holds long-term incentive awards subject to the benefits referenced or described in Section 1(a) of this Agreement, Employee shall not, at any time without the prior consent of the Company’s Chief Executive Officer or General Counsel, engage in the ownership, development, operation, management or leasing of any commercial office buildings located within any of the metropolitan statistical areas (as such terms are defined by the U.S. Office of Management and Budget) enumerated in the attached Schedule 2(g) or within any other city or county with respect to which the Company hereafter formally announces its intention to engage in business; provided, however, that the foregoing prohibition shall not apply to cities or counties where the Company is not engaged in business on the date of this Agreement and with respect to which the Company has not formally announced its intention to engage in business within, and Employee hereafter engages in business prior to any announcement by the Company of its intention to engage in business there. Notwithstanding the foregoing, at any time after March 1, 2023, Employee may, in his sole and absolute discretion, upon at least 30 days’ prior written notice delivered to the Company, elect to no longer comply with the provisions of this Section 2(g); provided, however, that upon any such event, the remaining vested portion of any stock options then held by Employee issued under the Company’s 2009 and 2015 Long-Term Equity Incentive Plans will remain exercisable only for a period of three months following the date of such notice, after which three-month period all such then-outstanding options will automatically terminate and be forfeited by Employee for no consideration.
(h)    Performance of Duties:  Employee shall use his best efforts in performing his assigned job duties through the Retirement Date.  This Agreement does not create a contract of employment between Employee and the Company or otherwise alter the “at will” employment relationship that exists between Employee and the Company.  This Agreement does not give Employee any right to continue in the Company’s employment or otherwise limit the Company’s ability to terminate Employee’s employment or Employee’s ability to terminate his or her employment at any time and for any or no reason, including prior to the Retirement Date. Upon the termination of Employee’s employment with the Company for any reason prior to the Retirement Date, Employee shall forfeit all rights and benefits under this Agreement.  The preceding sentence is not intended to affect rights and benefits, if any, to which Employee may be eligible under any other agreement or arrangement with the Company, including but not limited to the Retirement Plan.
(i)    Forfeiture and Recovery:  With respect to any asserted breach of this Agreement by either party, the complaining party shall deliver notice to the other party of the facts and circumstances 

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constituting the asserted breach, and such other party shall have forty-eight (48) hours within which to cure the claimed breach or to desist from the conduct complained of.  Employee acknowledges and agrees that, in any suit or arbitration brought by the Company to enforce this Agreement, (i) if Employee is found to have materially breached any provision of this Agreement, or (ii) if Employee materially breaches a provision of this Agreement, but successfully defends against liability in such suit or arbitration on the ground that a provision of this Agreement is unenforceable, then Employee shall forfeit benefits under the Company’s Retirement Plan, and Highwoods shall be entitled to recover from Employee any such payments made or benefits provided to Employee pursuant to this Agreement, seek reimburse from Employee of any costs and attorneys’ fees Highwoods incurs in connection with obtaining the return or reimbursement of such payments, and pursue any and all other remedies at law or equity.  The failure of Highwoods to pursue any remedy available to it pursuant to this section shall not constitute a waiver by Highwoods of its rights hereunder with respect to such breach or any other breach by Employee or a finding by a court or arbitrator of unenforceability of any provision of this Agreement.
(j)    Consulting Services:  (i) For a two-year period commencing on the Retirement Date (the “Consulting Period”), Employee shall provide consulting services to Highwoods in the manner set forth below for $175,000 per year, payable in arrears on the 1st of each calendar month starting on October 1, 2019.
(ii)    Employee will perform up to 20 hours per month of performing consulting services for Highwoods upon the reasonable request of an executive officer of Highwoods. Such requested consulting services are generally expected to be in the areas of strategic planning, investor relations, corporate governance and investment activities (such as acquisitions, dispositions and development projects). Employee shall have discretion in selecting the dates and times it performs such consulting services throughout the month giving due regard to the needs of the Company’s business. If Highwoods deems it necessary for Employee to provide more than 20 hours in any month, Employee is not obligated to undertake such work until Employee and Highwoods have agreed on a rate of compensation.
(iii)    During the Consulting Period, Employee will be an independent contractor and not an employee, partner, or co-venturer of, or in any other service relationship with, Highwoods. The manner in which Employee’s services are rendered shall be within Employee’s sole control and discretion. During the Consulting Period, Employee will not be authorized to speak for, represent, or obligate Highwoods in any manner without the prior express written authorization from an officer of Highwoods.
(iv)    During the Consulting Period, Highwoods will reimburse Employee for all actual reasonable and necessary expenditures, which are directly related to the consulting services. These expenditures include, but are not limited to, expenses related to travel (i.e., airfare, hotel, temporary housing, meals, parking, taxis, mileage, etc.), telephone calls, and postal expenditures.  Highwoods will also provide reasonable amounts of administrative support from current employees of Highwoods to assist Employee in the provision of consulting services to Highwoods.
(v)    During the Consulting Period, Highwoods will take commercially reasonable steps to inform Employee if and when any of his activities or any information to which he is given access constitutes material nonpublic information under the federal securities laws.
3.    Tax Matters and Indemnification Agreement:  Employee expressly acknowledges that no oral or written representation of fact or opinion has been made to Employee by Highwoods, any of the Released Parties, or its attorneys regarding the tax treatment or consequences of any payment made under this Agreement.  It is expressly understood that, except as otherwise provided in this Agreement, to the extent any liability or responsibility exists for Employee’s federal, state and local income or other taxes, penalties or interest, such liability or responsibility rests solely with Employee.

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The parties intend that amounts payable under this Agreement shall not be included in Employee’s income for federal, state or local income tax purposes until the amounts are actually paid or delivered to Employee.  This Agreement is intended to comply with Internal Revenue Code Section 409A or an exemption thereunder and shall be construed and administered in accordance therewith.  Notwithstanding any other provision of this Agreement, payments provided under this Agreement may only be made upon an event and in a manner that complies with Code Section 409A or an applicable exemption.  Payments under this Agreement are intended to qualify to the maximum extent applicable for the short-term deferral exception and the involuntary severance exception to application of Code Section 409A and shall be interpreted consistently with the requirements of Code Section 409A and the short-term deferral exception and involuntary severance exception thereto.  References herein to termination or separation from employment shall mean separation from service within the meaning of Code Section 409A and guidance thereunder. Notwithstanding any other provision of this Agreement, if any payment or benefit provided to Employee in connection with his termination of employment is determined to constitute “nonqualified deferred compensation” within the meaning of Code Section 409A and Employee is determined to be a “specified employee” as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month anniversary of his termination of employment or, if earlier, on Employee’s death.  The aggregate of any payments that would otherwise have been paid before such date shall be paid to Employee in a lump sum on such date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.
Employee agrees to indemnify and hold harmless Highwoods and/or the Released Parties in connection with any liability incurred by Highwoods in connection with any tax or taxes for which Employee is responsible.  Similarly, Highwoods agrees to indemnify and hold harmless Employee in connection with any liability incurred by Employee in connection with any tax or taxes for which Highwoods is responsible. Highwoods also agrees to indemnify and hold harmless Employee in connection with any liability incurred by Employee in connection with any tax or taxes resulting from the COBRA coverage payments provided for in Section 1(b)(i).
4.    Voluntary Nature of Agreement and Advice of Counsel:  Employee acknowledges that Employee (a) has read this Agreement and understands its terms, (b) signs the Agreement voluntarily of Employee’s own free will, without coercion or duress, and with full understanding of the significance and binding effect of the Agreement, (c) is hereby advised to consult with an attorney before signing this Agreement, and (d) acknowledges that Employee has had an opportunity to review this Agreement with an attorney prior to execution.
5.    Consideration Period and Revocation:  Employee received this Agreement on September 5, 2019.  Employee has twenty-one (21) calendar days from the date Employee received the Agreement within which to consider the Agreement, although Employee may return it sooner if desired.  Employee may revoke the Agreement, by delivering a written notice of revocation to Jeffrey D. Miller, Executive Vice President, General Counsel and Secretary, Highwoods Properties, Inc., 3100 Smoketree Court, Suite 600, Raleigh, North Carolina 27604, within seven (7) calendar days after Employee signs the Agreement.  In the absence of a revocation, this Agreement will become effective and enforceable on the eighth (8th) calendar day following the date Employee signs the Agreement.
6.    Cooperation:  Employee agrees that, for a two-year period after his Retirement Date, upon reasonable request by Highwoods, Employee will participate in the investigation, prosecution, or defense of any matter involving Highwoods, any of the other Released Parties, or any other matter that arose during Employee’s employment, provided Highwoods shall compensate Employee for the reasonable value of the time required for such participation, and shall reimburse Employee for any reasonable travel and out-of-

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pocket expenses incurred in providing such participation at its request, the purpose of which reimbursement is to avoid cost to Employee and not to influence Employee’s participation.
7.    Notices:  Notices required or permitted under this Agreement shall be deemed sufficiently given if delivered by overnight courier and/or email as follows:
	
				
	 
	If to Employee:
	 
	Edward J. Fritsch
Raleigh, NC 27609
Email:

	 
	 
	 
	 

	 
	If to Highwoods:
	 
	c/o Jeffrey D. Miller, General Counsel
3100 Smoketree Court, Suite 600
Raleigh, North Carolina 27604
Email:

8.    Arbitration:  Except for suits initiated by the Company to enjoin a breach by Employee related to prohibited disclosures or competitive activities as proscribed in subparagraphs 2(c) and 2(g) hereinabove, which the Company may bring in an appropriate court, all other claims, disputes, and controversies arising out of this Agreement or the parties’ relationship and employer and employee or former employer and former employee shall be resolved exclusively by binding arbitration.  In such a proceeding, there shall be only one arbitrator, who shall be selected by the mutual agreement of the parties, and the decisions of the arbitrator shall be final and binding as to both the Company and Employee.  Judgment may be entered on the arbitrator’s decision in any court having competent jurisdiction.  This arbitration agreement shall be governed by the Federal Arbitration Act, 9 U.S. C. §1 et seq. The direct expense of the arbitration shall be borne by Employer but each party will bear its own expenses and legal fees.  The arbitration shall be held in the City of Raleigh, North Carolina.  Either party may appeal the arbitrator’s decision to a court in accordance with the appeal procedures of the Federal Arbitration Act 9 U.S. C. §1 et seq.
9.    Binding Effect; Entire Agreement; Severability:  This Agreement will be binding upon Employee and his heirs, administrators, representatives, executors, successors and assigns, and will inure to the benefit of the Company and its successors and assigns.  This Agreement contains the entire agreement between and among the parties and cannot be modified in any respect in the future except in a writing signed by the parties hereto.  It is expressly understood to be the intent of the parties hereto that the terms and provisions of this Agreement are severable and if, at any time in the future or for any reasons, any term or provision in this Agreement is declared unenforceable, void, voidable, or otherwise invalid, the remaining terms and provisions shall remain valid and enforceable as written.
10.    Governing Law:  The terms and provisions of this Agreement shall be interpreted and enforced under the substantive law of the State of North Carolina, to the extent state law applies, and under federal law, to the extent federal law applies.
11.    Counterparts:  This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall constitute together one and the same Agreement. Any party to this Agreement may execute this Agreement by signing any such counterparts.
12.    Attorney Fees:  In any dispute hereunder that is resolved through legal proceedings, reasonable attorneys’ fees and expenses shall be awarded to the prevailing party.

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13.    Termination of Amended and Restated Executive Supplemental Employment Agreement:  Each of the parties hereto acknowledges that the Amended and Restated Executive Supplemental Employment Agreement, effective as of February 12, 2013, by and between, Highwoods and Employee (the “Prior Agreement”), shall automatically terminate as of the Retirement Date, and that none of the provisions of the Prior Agreement shall survive or be deemed to survive the Retirement Date in any respect.

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IMPORTANT:   YOU ACKNOWLEDGE AND AGREE THAT YOU HAVE BEEN HEREBY ADVISED TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS AGREEMENT.  YOU ACKNOWLEDGE AND AGREE THAT YOU HAVE BEEN ADVISED THAT THIS AGREEMENT IS A BINDING LEGAL DOCUMENT.  YOU ACKNOWLEDGE AND AGREE THAT YOU HAVE CAREFULLY READ AND FULLY UNDERSTAND ALL OF THE PROVISIONS OF THIS AGREEMENT AND THAT YOU HAVE VOLUNTARILY AND KNOWINGLY SIGNED THE AGREEMENT.
PLEASE READ CAREFULLY, THIS AGREEMENT HAS IMPORTANT LEGAL CONSEQUENCES.

IN WITNESS WHEREOF, the parties have executed this Agreement.

	
				
	 
	 
	 

	 
	 
	 
	/s/ Edward J. Fritsch

	 
	 
	 
	Edward J. Fritsch

	 
	 
	 
	Date: September 5, 2019

	
				
	 
	 
	HIGHWOODS PROPERTIES, INC.

	 
	 
	By: 
	/s/ Jeffrey D. Miller

	 
	 
	 
	Jeffrey D. Miller

	 
	 
	 
	Executive Vice President, General Counsel and Secretary

	 
	 
	 
	Date: September 5, 2019

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Schedule 2(a)

ARTICLE IX

Indemnification

The Corporation shall indemnify directors, officers, agents and employees as follows: (a) the Corporation shall indemnify its Directors and officers, whether serving the Corporation or at its request any other entity, to the full extent required or permitted by the Maryland Corporations and Associations Article now or hereafter in force, including the advance of expenses under the procedures and to the full extent permitted by law and (b) the Corporation shall indemnify other employees and agents, whether serving the Corporation or at its request any other entity, to such extent as shall be authorized by the Board of Directors or the Corporation’s Bylaws and be permitted by law. The foregoing rights of indemnification shall not be exclusive of any other rights to which those seeking indemnification may be entitled and shall continue as to a person who has ceased to be a director, officer, agent or employee and shall inure to the benefit of the heirs, executors and administrators of such a person. The Board of Directors may take such action as is necessary to carry out these indemnification provisions and is expressly empowered to adopt, approve and amend from time to time such Bylaws, resolutions or contracts implementing such provisions or such further indemnification arrangements as may be permitted by law. No amendment of these Amended and Restated Articles of Incorporation of the Corporation shall limit or eliminate the right to indemnification provided hereunder with respect to acts or omissions occurring prior to such amendment or repeal.

Schedule 2(g)

Atlanta MSA
Charlotte MSA
Greensboro-High Point MSA
Nashville MSA
Memphis MSA
Orlando MSA
Pittsburgh MSA
Raleigh MSA
Richmond MSA
Tampa MSA

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