Document:

EX-10.1

 Exhibit 10.1 

SEPARATION AGREEMENT AND RELEASE 

THIS SEPARATION AGREEMENT AND RELEASE (the “Agreement”), made by and between Linda S. Huber (hereinafter referred to as
“Employee”), and Moody’s Corporation (hereinafter deemed to include its worldwide subsidiaries and affiliates and referred to as the “Company”). 

In consideration of the mutual covenants and promises hereinafter provided and of the actions taken pursuant thereto, the parties agree as
follows: 
 1.    Employee’s employment with the Company, and Employee’s membership on any committees, is
terminated effective on the date specified in Appendix A (the “Termination Date”) and Employee agrees not to apply for or seek re-employment with the Company after that date. Employee agrees to
continue working through the Termination Date (“Continued Employment Period”), unless relieved of duties earlier by the Company in the Company’s sole discretion. The Company reserves its right to remove Employee from her current
position(s) prior to the Termination Date. Upon two weeks’ written notice to the Company, Employee also has the right to terminate her employment prior to the Termination Date. Employee acknowledges that given Employee’s status prior to
the Termination Date as an officer of the Company, Employee’s termination may require additional formalities. As such, Employee agrees to reasonably cooperate with the Company to take any and all actions as may be required by any local law,
government agency, or other regulatory body relating to the termination of Employee’s position(s) with the Company, including, upon the reasonable request of the Company from time to time, promptly executing any resignation forms,
questionnaires or other similar documents. Employee acknowledges and understands that Employee remains subject to any and all of the Company’s policies and procedures during the Continued Employment Period. Employee will continue to receive
Employee’s regular salary and benefits through the Termination Date even if relieved of duties earlier by the Company, unless Employee resigns for any reason or has engaged in conduct that warrants immediate termination of employment pursuant
to the Company’s policies, procedures, and past practice. Unless otherwise agreed to by the Company in writing, such resignation or termination would preclude Employee from being eligible to receive the benefits set forth in Paragraph 2 of this
Agreement and Appendix A. Employee further acknowledges and understands that nothing in this Agreement alters the at-will nature of Employee’s employment and that Employee’s employment can be
terminated by the Company or the Employee at any time, for any or no reason, and with or without advance notice or cause. 

2.     Provided the Employee timely signs and does not revoke this Agreement, Employee signs, on but not before the
Termination Date, and does not revoke a separate General Release of Claims (attached hereto as Exhibit 1 (“Exhibit 1”)), Employee fully complies with both documents’ terms and remains in good standing through the Termination Date, and
Employee returns all Company property by the Termination Date, Employee will be eligible for the benefits set forth in the Moody’s Corporation Career Transition Plan (the “Plan”), subject to the terms and conditions thereof, and this
Agreement. Employee hereby acknowledges receipt of a summary description of the Plan. A summary of the benefits for which Employee is eligible is set forth in Appendix A. 

  
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 3.    Release: 

 

	 	a.	 In exchange for the Continued Employment Period and Employee’s eligibility to accept Exhibit 1, the
consideration provided in this Agreement, and the benefits under the Plan set forth in Appendix A, and as a material inducement for those promises, to the fullest extent permitted by law, Employee hereby WAIVES, RELEASES and FOREVER
DISCHARGES the Company and its past and present parents, subsidiaries, affiliates and divisions, their respective successors and assigns, and all of their respective past and present directors, officers, representatives, stockholders, agents,
employees, attorneys, agents, fiduciaries, plan administrators, services providers, parties in interest, and trustees or administrators of any Company plan or employee benefit plan sponsored by the Company, any Company plan, and any employee benefit
plan sponsored by the Company, whether as individuals or in their official capacity, and the respective heirs and personal representatives (together, “Releasees”), from any and all legally waivable claims, grievances, injuries,
controversies, agreements, covenants, promises, debts, accounts, actions, causes of action, suits, arbitrations, sums of money, attorneys’ fees, costs, damages or any right to any monetary recovery or any other personal relief, whether known or
unknown, in law or in equity, by contract, tort, law of trust or pursuant to federal, state or local statute, regulation, ordinance or common law, which Employee now has, ever has had, or may hereafter have, based upon or arising from any fact or
set of facts, acts or omissions, whether known or unknown to Employee, from the beginning of time until the date of execution of this Agreement (together, “Claims”), including, but not limited to, Claims arising out of or relating in any
way to Employee’s employment relationship with the Company or termination of that employment or any other relationship. This WAIVER and RELEASE includes, but is not limited to, any claim for unlawful discrimination under the Age
Discrimination in Employment Act (“ADEA”), Title VII of the Civil Rights Act of 1964, as amended, the Older Workers’ Benefits Protection Act (“OWBPA”), the Equal Pay Act (“EPA”), the Employee Retirement Income
Security Act (“ERISA”) (including, but not limited to, claims for breach of fiduciary duty under ERISA), the Rehabilitation Act of 1973, and the Americans with Disabilities Act of 1990 (“ADA”), 42 U.S.C. § 1981, the Family
and Medical Leave Act of 1993 (“FMLA”), New York State Human Rights Law, New York Equal Pay Law, New York State Civil Rights Law, New York Off-duty Conduct Lawful Activities Discrimination Law, New
York State Labor Relations Act, Article 23-A of the New York State Corrections Law, New York Whistleblower Statute, New York Family Leave Law, New York Minimum Wage Act, New York Wage and Hour Law, New York
Wage Hour and Wage Payment Law, New York State Worker Adjustment and Retraining Notification Act, the retaliation provisions of New York Workers’ Compensation Law; New York City Human Rights Law; and the New York City Earned Sick Time Act,
including all amendments thereto. In consideration for Employee’s release of the Releasees, the Company hereby discharges and generally releases Employee from all claims, causes of action,

  
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suits, agreements, and damages which each such party may have now or in the future against Employee for any act, omission, or event relating to Employee’s employment with the Company or
termination of employment therefrom occurring up to and including the date on which Employee signs this Agreement to the extent that any such claim, cause of action, suit, agreement, or damages is based on facts, acts, omissions, circumstances, or
events actually known as of the date of this Agreement to the Company’s Board of Directors (“Board”), or facts, acts, omissions, circumstances, or events which, as of the date of this Agreement, the Board reasonably should have been
aware of. 

  

	 	b.	Notwithstanding the generality of the foregoing, nothing herein constitutes a release or waiver by Employee of, or prevents Employee from making or asserting: (i) any Claim or right Employee may have under COBRA;
(ii) any Claim or right Employee may have for unemployment insurance benefits or workers’ compensation benefits; (iii) any Claim or right Employee may have to vested benefits under the written terms of a qualified employee pension
benefit plan; (iv) any Claim that cannot be waived as a matter of law; (v) any medical claim incurred during your employment that is payable under applicable medical plans or an employer-insured liability plan; (vi) any Claim or right
that may arise after the execution of this Agreement; (vii) any Claim or right Employee may have under this Agreement; and/or (viii) any right, if any, to continued coverage under the Company’s applicable directors’ and
officers’ or other third party liability insurance policy(ies). In addition, nothing herein shall prevent Employee from filing a charge or complaint, either individually or with or on behalf of others, with the Equal Employment Opportunity
Commission (“EEOC”), the National Labor Relations Board (“NLRB”), the U.S. Department of Labor, the Occupational Safety and Health Commission, or any other federal, state, or local administrative agency or Employee’s ability
to participate in any investigation or proceeding conducted by such agency; provided, however, that pursuant to Paragraph 3(a), Employee is waiving any right to recover monetary damages or any other form of personal relief in connection with any
such charge, complaint, investigation or proceeding. To the extent Employee receives any personal or monetary relief in connection with any such charge, complaint, investigation or proceeding, the Company will be entitled to an offset for the
payments made pursuant to Paragraph 2 of this Agreement. Notwithstanding this provision, nothing in this Agreement limits Employee’s ability to receive an award from a government-administered award program for information provided to any
federal, state or local authority or administrative agency and nothing in this Agreement requires an offset of any such award. 

  

	 	c.	 In further exchange for the Continued Employment Period and Employee’s eligibility to accept Exhibit 1, the
consideration under this Agreement, and the benefits under the Plan set forth in Appendix A, and as a material inducement for those promises, to the fullest extent permitted by law, Employee also hereby WAIVES any right to (i) initiate
or maintain any Claims (as defined in Paragraph 3(a)) on a class action basis, collective action basis, or representative action basis 

  
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against Releasees; (ii) serve or participate as a representative of any such class action, collective action, or representative action; (iii) serve or participate as a member of any
such class action, collective action, or representative action; or (iv) recover any relief from any such class action, collective action, or representative action. Employee further agrees that if Employee is included within any such class,
collective, or representative action, Employee will take all steps necessary to opt-out of the action or refrain from opting in or otherwise participating to pursue claims in the action, as the case may be.

  

	 	d.	This WAIVER and RELEASE is binding on Employee, Employee’s heirs, legal representatives and assigns. However, it does not apply to any claim that may arise after the date that Employee signs
this Agreement. 

 4.    Acknowledgments. Employee acknowledges that Employee’s continued employment
during the Continued Employment Period and the benefits set forth in the Plan and this Agreement include compensation and/or benefits in addition to what Employee would otherwise be entitled to receive, and that such compensation and/or benefits are
just and sufficient consideration for the waivers, releases and commitments set forth herein and in Exhibit 1. Employee also acknowledges and agrees that Employee has received all entitlements due from the Company relating to Employee’s
employment with the Company, including but not limited to, all wages earned, sick pay, vacation pay, and any paid and unpaid personal leave for which Employee was eligible and entitled, and that no other entitlements are due to Employee other than
as set forth in this Agreement. Employee further acknowledges and agrees that, aside from the benefits set forth in the Plan and this Agreement, Employee is not a participant in and is not entitled to any benefits under any other employee
benefits plan sponsored by the Company and Employee releases all claims and waives all rights with respect to any such plan. The benefits set forth in the Plan and this Agreement will not become due until on or after the Effective Date of Exhibit 1
(as defined in Paragraph 5(f) of Exhibit 1). 
 5.    During the Continued Employment Period and following the
Termination Date, Employee will be available on reasonable advance notice to consult on matters, as reasonably requested by the Company, and will continue to cooperate in all material respects with respect to any claims, litigations or
investigations relating to the Company (including investigations which relate directly or indirectly to Employee’s activities at the Company) by providing truthful and complete information, including truthful and complete testimony if
requested. No reimbursement for expenses incurred by Employee during the Continued Employment Period and after the Termination Date shall be made to Employee unless authorized in writing in advance by the Company. Any requested cooperation shall not
unreasonably interfere with her then current business, employment or personal commitments. If the parties agree in good faith that, in order to reasonably cooperate, Employee needs to retain counsel independent of the Company’s counsel due to a
potential conflict of interests of such Company counsel, Employee shall be reimbursed for her reasonable attorneys’ fees and expenses as incurred, provided that the Company will have the opportunity to approve Employee’s selection of
counsel, which approval will not be unreasonably withheld, and that no reimbursement for attorneys’ fees and expenses incurred as a result of this provision shall be made to Employee unless authorized in writing in advance by the Company. 

  
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 6.    Employee agrees to abide by the following restrictions during the
Continued Employment Period and through the last day of salary continuation, as set forth in Appendix A (the “Last Day of Salary Continuation”), whether or not Employee accepts any form of compensation from a competing entity or
consultant: 
  

	 	a.	Except as to Employee’s membership on the Board of the Bank of Montreal and any other affiliations agreed to in writing between Employee and the President or General Counsel of the Company, Employee agrees that
during the Continued Employment Period, Employee will not become a stockholder (unless such stock is listed on a national securities exchange or traded on a daily basis in the
over-the-counter market and the Employee’s ownership interest is not in excess of 2% of the company whose shares are being purchased), employee, officer, director
or consultant of or to a corporation, or a member or an employee of or a consultant to a partnership or any other business or firm; nor if Employee becomes associated with a company, partnership or individual which company, partnership or individual
acts as a consultant to any businesses will Employee provide services to such businesses. Notwithstanding the foregoing, Employee may be a passive investor in any private equity, hedge fund, mutual fund or similar investment vehicle.

  

	 	b.	Except as to Employee’s membership on the Board of the Bank of Montreal and any other affiliations agreed to in writing between Employee and the President or General Counsel of the Company, Employee agrees that
after the Termination Date and through the Last Day of Salary Continuation, Employee will not become a stockholder (unless such stock is listed on a national securities exchange or traded on a daily basis in the over-the-counter market and the Employee’s ownership interest is not in excess of 2% of the company whose shares are being purchased), employee, officer, director or consultant of or to a corporation, or
a member or an employee of or a consultant to a partnership or any other business or firm, which competes with any of the businesses owned or operated by the Company; nor if Employee becomes associated with a company, partnership or individual which
company, partnership or individual acts as a consultant to businesses in competition with the Company will Employee provide services to such competing businesses. Notwithstanding the foregoing, (i) Employee may work for a non-competitive business line of a person or entity that competes with the Company provided that she does not perform any services for the competing business line and does not communicate professionally with anyone
in such competing business line and (ii) Employee may be a passive investor in any private equity, hedge fund, mutual fund or similar investment vehicle. 

  

	 	c.	 Employee also agrees that during the Continued Employment Period and through the Last Day of Salary Continuation,
Employee will not recruit or solicit any customers of the Company to become customers of any business entity which competes with any of the businesses owned or operated by the Company. In addition, Employee agrees that during the Continued
Employment Period and 

  
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through the Last Day of Salary Continuation, neither Employee nor any company or entity Employee controls or manages shall recruit or solicit any employee of the Company to become an employee of
any business entity. 

  

	 	d.	Except as to Employee’s membership on the Board of the Bank of Montreal, if Employee performs services for an entity other than the Company at any time after the Termination and on or before the Last Day of Salary
Continuation (whether or not such entity is in competition with the Company), Employee shall notify the Company on or prior to the commencement thereof of same, including providing the name of the entity. To “perform services” shall mean
employment or services as an employee, consultant, owner, partner, associate, agent or otherwise on behalf of any person, principal, partnership, firm or corporation. 

7.    Except as provided for in Paragraphs 8(c) and 8(d), (i) Employee shall not disparage, denigrate or defame the
Company, any other affiliated entity, any of their business products or services, or any of their directors, officers, executives, or other personnel and shall not make any written or oral statement, news release or other announcement relating to
Employee’s employment by the Company or relating to the Company, its subsidiaries, customers or personnel, which would tend to embarrass or criticize any of the foregoing and (ii) within 10 days of the Effective Date of this Agreement (as
defined in Paragraph 5(f) of Exhibit 1), the Company shall direct certain individuals, the names of whom shall be separately provided and agreed upon between the parties, not to make any written or oral statement, news release or other announcement
relating to the Employee or Employee’s employment by the Company, which would tend to embarrass or criticize Employee. The Company accepts no responsibility once the instruction described in Paragraph 7(ii) is issued.    
 
 8.     Confidentiality: 
  

	 	a.	Except as provided for in Paragraphs 8(c) and 8(d), Employee agrees not to directly or indirectly disclose any proprietary or confidential information, records, data, formulae, specifications and other trade secrets
owned by the Company, whether oral or written, to any person or use any such information, except pursuant to court order (in which case Employee will first provide the Company with written notice of such) or if expressly authorized in writing by an
executive officer of the Company. All such information, as well as all records, files, drawings, documents, emails, models, disks, equipment and the like relating to the businesses of the Company shall remain the sole property of the Company and
shall not be removed from the premises of the Company. Employee further agrees to leave or return to the Company, as the case may be, any property, records, files, drawings, documents, models, disks, equipment, and the like of the Company which
Employee may have, no matter where located, no later than the Termination Date, and agrees not to keep any copies or portions thereof. To the extent Employee has any Company information or material stored on any PDA, personal computer, personal
email, hard drive, thumb drive, cloud or other electronic storage device, Employee agrees to permanently delete such information from such devices, subject to any Company litigation preservation directive then in effect. Notwithstanding the
foregoing, Employee may make and retain an electronic copy of her contacts list. 

  
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	 	b.	Except as provided for in Paragraphs 8(c) and 8(d), Employee and the Company each agree not to talk about, write about, discuss or otherwise publicize any of the circumstances giving rise to this Agreement (including
Appendix A and Exhibit 1), at any time to any person or entity, except that Employee may disclose such circumstances as necessary to Employee’s legal, tax or other financial advisors and to her immediate family members, and the Company may
disclose such circumstances and this Agreement (including Appendix A and Exhibit 1) as necessary to the Company’s auditors; legal, tax or other financial advisors; and as needed to effectuate the terms of the Agreement. 

 

	 	c.	Notwithstanding the foregoing, nothing in this Agreement shall prohibit or restrict Employee, the Company, or their respective attorneys from: (i) making any disclosure of relevant and necessary information or
documents in any action, investigation, or proceeding relating to this Agreement, including Appendix A and Exhibit 1, or as required by law or legal process, including periodic Securities and Exchange Commission reporting requirements and
disclosures; or (ii) lawfully initiating communications directly with, cooperating with, providing relevant information to or otherwise assisting or testifying in an investigation by the Securities and Exchange Commission or any other
governmental or regulatory body or official(s) or self-regulatory organization regarding a possible violation of any applicable law, rule or regulation or regarding potentially fraudulent or suspicious activities.    Further,
nothing in this Agreement shall require Employee to notify the Company of any such communications, cooperation, assistance, responses to inquiries, assistance, testimony or participation as described in this paragraph. Employee acknowledges and
agrees, however, that pursuant to Paragraph 3, Employee is waiving any right to recover monetary damages or any other form of personal relief in connection with any such action, investigation or proceeding. Notwithstanding this provision, nothing in
this Agreement limits Employee’s ability to receive an award from a government-administered award program for information provided to any federal, state or local authority or administrative agency. Despite the foregoing, unless required by
applicable law or by a court of competent jurisdiction (and in that case only following prompt prior notice to the Company), Employee is not permitted to reveal to any third-party, including any governmental, law enforcement, or regulatory
authority, information Employee came to learn during the course of Employee’s employment with the Company that is protected from disclosure by any applicable privilege, including but not limited to the attorney-client privilege, attorney work
product doctrine, and/or other applicable privileges. The Company does not waive any applicable privileges or the right to continue to protect its privileged attorney-client information, attorney work product, and other privileged information.
 

  
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	 	d.	Federal law provides that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret under either of the following conditions:
(a) where the disclosure is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected
violation of law; or (b) where the disclosure is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Federal law also provides that an individual who files a lawsuit for retaliation
by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (i) files any document containing the
trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order. 

9.    Breach: 
  

	 	a.	Employee acknowledges and agrees that if Employee breaches any of Employee’s commitments or representations to the Company agreed upon in Paragraphs 3, 5, 6, 7, 8(a), and/or 8(b) of this Agreement, in addition to
any remedy or damages available to the Company as permitted by law, Employee will forfeit any claim or entitlement to the payments described in Paragraph 2 and Exhibit A hereof that may remain unpaid at the time of such breach except to the extent
required to be paid to Employee or her beneficiaries by applicable law and pursuant to the terms of the applicable Plan(s) and Employee will immediately repay, upon demand of the Company, all payments made pursuant to this Agreement paid prior to
such breach in addition to the Company’s reasonable fees and costs associated with enforcing its rights under this Paragraph, provided, however, that the Employee shall be entitled to retain up to Ten Thousand Dollars ($10,000.00), which amount
Employee and the Company agree constitutes valid ongoing consideration for the release in Paragraph 3. 

  

	 	b.	A waiver by either party hereto of a breach of any term or provision of the Agreement shall not be construed as a waiver of any subsequent breach. 

10.    Employee hereby acknowledges that: 
  

	 	a.	The Company hereby advises Employee to obtain independent legal advice from an attorney of Employee’s choice with respect to this Agreement, including Appendix A and Exhibit 1. If Employee declines to consult with
an attorney before signing this Agreement, Employee agrees that Employee has knowingly and voluntarily chosen not to do so; 

  

	 	b.	Employee has had a period of at least twenty-one (21) days to review and consider this Agreement and Appendix A and Exhibit 1; 

 

	 	c.	If Employee knowingly and voluntarily chooses to do so, Employee may accept the terms of this Agreement before the twenty-one (21) day consideration period provided
for in this Paragraph 10 has expired; 

  
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	 	d.	Employee has freely and voluntarily entered into this Agreement after due consideration; 

  

	 	e.	By executing this Agreement, the parties agree that changes to the Company’s offer contained in this Agreement, Appendix A and Exhibit 1, whether material or immaterial, have not restarted the twenty-one (21) day consideration period provided for in this Paragraph 10; 

  

	 	f.	Employee has the right to revoke this Agreement within seven (7) days of signing it. Employee’s notice of revocation must be in writing and addressed and delivered to the attention of John Goggins, EVP-General Counsel, Moody’s Corporation, 7 World Trade Center at 250 Greenwich Street, New York, NY 10007, by hand-delivery or by certified mail, return receipt requested, on or before the end of the seven-day period; 

  

	 	g.	This Agreement will not be effective or enforceable until eight (8) days after the Company has received Employee’s signed copy of this Agreement. That will be the “Effective Date” of this Agreement,
provided Employee has not revoked this Agreement within the time period set forth in Paragraph 10(f). Further, provided this Agreement becomes Effective, and Employee timely signs, and does not revoke Exhibit 1 in accordance with Paragraph 5(f)
thereof, and Employee complies with the terms of this Agreement, Employee will receive the benefits set forth in Appendix A. However, if Employee does not timely sign or revokes this Agreement, the Agreement will not become effective, and
Employee may not sign Exhibit 1 and will not be eligible to receive the benefits set forth in Appendix A; and 

  

	 	h.	In deciding to sign this Agreement Employee has not relied on any promises or commitments, whether spoken or in writing, made to Employee by any Company representative, except for what is expressly stated in this
Agreement. 

 11.    Employee agrees that if Employee fails to execute and return this Agreement to the
Company within the time specified herein, the promises and agreements made by the Company herein will have been revoked. 

12.    It is understood and agreed that neither the execution of this Agreement, nor the terms of the Agreement, including
Appendix A and Exhibit 1, constitute an admission by the Company or any Releasee of any unlawful discriminatory acts or liability of any kind by the Company and/or any Releasee, or anyone acting under their supervision or on their behalf, and such
liability is expressly denied. This Agreement, including Appendix A and Exhibit 1, or the consideration paid pursuant thereto, may not be used or introduced as evidence of an admission of liability, inasmuch as such liability is expressly denied.

 13.    Indemnification. Nothing in this Agreement shall be deemed to modify the Company’s indemnification
obligations set forth in Paragraph 6 of the Company’s Certificate of Incorporation. 

  
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 14.     Miscellaneous: 

 

	 	a.	This Agreement, including Appendix A and Exhibit 1, constitutes the entire understanding and agreement between Employee and the Company, and replaces and cancels all previous agreements and commitments, whether spoken
or written, in connection with the matters described. 

  

	 	b.	If any term, provision, covenant or restriction contained in this Agreement, including Appendix A and Exhibit 1, is held by a court of competent jurisdiction or any foreign, federal, state, county or local government or
any other governmental regulatory or administrative agency or authority or arbitration panel to be invalid, void, unenforceable or against public policy for any reason, the remainder of the terms, provisions, covenants and restrictions of this
Agreement shall remain in full force and effect. 

  

	 	c.	This Agreement, including Appendix A and Exhibit 1, shall be construed, governed by and enforced in accordance with the laws of the State of New York without regard to its conflicts of law principles. Any action arising
out of or relating to this Agreement may, at the election of the Company, be brought and prosecuted only in that State, and in the event of such election, Employee consents to the jurisdiction and venue of any courts of or in such jurisdiction.

  

	 	d.	This Agreement cannot be changed or modified except by written agreement signed by both Employee and an authorized company representative. 

 

	 	e.	This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. 

 

	 	f.	This Agreement is intended to comply with Section 409A of the Internal Revenue Code, to the extent applicable. Notwithstanding any provision herein to the contrary, the Agreement shall be interpreted and
administered consistent with this intent to the fullest extent allowable by law. If this Agreement provides for multiple payments, each separate payment provided pursuant to the terms of this Agreement shall be treated as a separate
“payment” for purposes of Section 409A. In addition, if Employee is a “specified employee” within the meaning of Section 409A, as determined by the Company under its Section 409A administrative policies, any
payment made in connection with Employee’s termination of employment shall not be made earlier than six (6) months after the date of such termination to the extent required by Section 409A. 

  
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 PLEASE READ the following declaration and sign this Agreement only if it is true, on or before
February 5, 2018: 
 Employee acknowledges that she has carefully read and considered this Agreement, including
Appendix A and Exhibit 1; that she has been given the opportunity to review this Agreement, including Appendix A and Exhibit 1, with an attorney of her own choosing; that she understands by signing this Agreement and allowing it to become effective,
she is forever relinquishing important legal rights and claims, including under the ADEA; and that she freely and voluntarily consents to all terms of this Agreement with full understanding of what they mean. 

IN WITNESS WHEREOF, Employee and the Company, by its duly authorized agent, have hereunder executed this Agreement. 

 

									
	LINDA S. HUBER	 		 	MOODY’S CORPORATION
			
	 /s/ Linda S. Huber
	 		 	 /s/ John Goggins

		 		 	 John Goggins, EVP-General
Counsel

		 		 	 Authorized Agent

		 		 	
	 January 26, 2018
	 		 	 January 26, 2018

	 Date signed by Linda S. Huber
	 		 	 Date signed by Moody’s Corporation

  
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 Appendix A 

Summary of Benefit Entitlements 

Under Moody’s Corporation 

Career Transition Plan 

For LINDA S. HUBER 
  

			
	Employment with Company Since:	  	05/16/2005
		
	Continued Employment Period:	  	Execution Date of Agreement - 06/30/2018
		
	Termination Date:	  	06/30/20181
		
	Salary Continuation Period:	  	07/01/2018-07/01/2019
		
	Salary Continuation:	  	52 weeks = $609,000
		
	Last Day of Salary Continuation:	  	07/01/2019
		
	Welfare Benefits Continuation End Date:	  	07/01/2019
		
	Outplacement Services:	  	12 months

 Employee will be eligible to receive a 2017 Performance Incentive Compensation Plan (PIC) bonus, payable in the first quarter
of 2018 at 100% of bonus target of $791,000. Employee will also be eligible to receive $395,500.00, which represents a prorated portion through June 30, 2018 of her 2018 Performance Incentive Compensation (PIC) Plan bonus at target, payable in
the first quarter of 2019.     
 A letter and fact sheet containing benefits information will be mailed under separate cover by the
Moody’s Benefits Administrator, Fidelity Investments. The description of benefits provided is only a summary and is subject to the terms and conditions of the Plan, and any and all benefits provided to Employee remain at all times subject to
the terms of the applicable Plan including its amendment and termination provisions. Refer to the summary plan description for more details. Should Employee have questions, please contact the Benefits Center at Fidelity at 877-208-0784. 
 Employee’s pension benefits will be subject to the terms and
conditions of the relevant plans. For clarity, Employee is a participant in the Retirement Account plan, the Pension Benefit Equalization Plan (“PBEP”), and the Supplemental Executive Benefit Plan (“SEBP”).  

 

	1 	In the event that Employee obtains new employment prior to the Termination Date and informs the Company of the start date of such new employment (the “New Employment Start Date”) pursuant to Paragraph 1 of the
Separation Agreement, the Company agrees to pay Employee in a lump sum, less all applicable taxes and withholdings and within 30 days of the New Employment Start Date, the amount equivalent to Employee’s remaining salary payments between the
New Employment Start Date and the Termination Date. 

  
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 Employee’s equity, including performance shares, restricted stock, restricted stock units and stock options,
will be addressed in accordance with the applicable plan document(s) and Award Agreements. With respect to any outstanding performance share grants, as a Retiree, in each case after the first anniversary of the date of the performance shares grant,
Employee shall be entitled to receive as a payout a pro rata portion of the number of shares issuable pursuant to the participant’s performance shares based on the number of days of actual service during the three-year performance period. 

All such shares are to be issued after the end of the three-year period on the originally scheduled vesting date but only to the extent that such shares would
have been earned by achievement of performance measures and become issuable to the participant had the termination of employment not occurred prior to the end of the performance period. For further information on any equity awards, Employee should
refer to the applicable plan documents, which are available to Employee in Employee’s Fidelity account. Please contact Fidelity at 877-208-0784. 

In addition, the Company will pay for Employee’s actual legal fees and expenses incurred in connection with the Employee seeking advice with respect to
this Agreement by the firm of Katzke & Morgenbesser LLP (“Morgenbesser”) in an amount not to exceed $25,000.00. This payment shall be made within thirty (30) days of the Effective Date of this Agreement (as defined in
paragraph 5(f) of Exhibit 1), provided that (i) Morgenbesser provides to the Company an invoice of services rendered no later than the Effective Date of this Agreement, (ii) the Company approves the submitted invoice, and
(iii) Morgenbesser submits to the Company an up-to-date copy of an Internal Revenue Service Form W-9 for Morgenbesser. 

  
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 Exhibit 1 

GENERAL RELEASE OF CLAIMS 

1.    In consideration for the benefits promised to the Employee in, and set forth in Appendix A to, the Separation
Agreement and Release executed on _______ (the “Separation Agreement”), which Linda S. Huber (hereinafter referred to as “Employee”) acknowledges and agrees are just and sufficient consideration for the waivers, releases and
commitments set forth herein, Employee hereby WAIVES, RELEASES and FOREVER DISCHARGES the Company and its past and present parents, subsidiaries, affiliates and divisions, their respective successors and assigns, and all of
their respective past and present directors, officers, representatives, stockholders, agents, employees, attorneys, agents and trustees or administrators of any Company plan, whether as individuals or in their official capacity, and the respective
heirs and personal representatives (together, “Releasees”), from any and all legally waivable claims, grievances, injuries, controversies, agreements, covenants, promises, debts, accounts, actions, causes of action, suits, arbitrations,
sums of money, attorneys’ fees, costs, damages or any right to any monetary recovery or any other personal relief, whether known or unknown, in law or in equity, by contract, tort, law of trust or pursuant to federal, state or local statute,
regulation, ordinance or common law, which Employee now has, ever has had, or may hereafter have, based upon or arising from any fact or set of facts, acts or omissions, whether known or unknown to Employee, from the beginning of time until the date
of execution of this Release (together, “Claims”), arising out of or relating in any way to Employee’s employment or other relationship with the Company or termination of that employment or other relationship. This RELEASE
includes, but is not limited to, any claim for unlawful discrimination under the Age Discrimination in Employment Act (“ADEA”), Title VII of the Civil Rights Act of 1964, as amended, the Older Workers’ Benefits Protection Act
(“OWBPA”), the Equal Pay Act (“EPA”), , the Employee Retirement Income Security Act (“ERISA”) (including, but not limited to, claims for breach of fiduciary duty under ERISA), the Rehabilitation Act of 1973, and the
Americans with Disabilities Act of 1990 (“ADA”), 42 U.S.C. § 1981, the Family and Medical Leave Act of 1993 (“FMLA”), New York State Human Rights Law, New York Equal Pay Law, New York State Civil Rights Law, New York Off-duty Conduct Lawful Activities Discrimination Law, New York State Labor Relations Act, Article 23-A of the New York State Corrections Law, New York Whistleblower Statute,
New York Family Leave Law, New York Minimum Wage Act, New York Wage and Hour Law, New York Wage Hour and Wage Payment Law, New York State Worker Adjustment and Retraining Notification Act, the retaliation provisions of New York Workers’
Compensation Law; New York City Human Rights Law; and the New York City Earned Sick Time Act, including all amendments thereto.    In consideration for Employee’s release of the Releasees, the Company hereby discharges and
generally releases Employee from all claims, causes of action, suits, agreements, and damages which each such party may have now or in the future against Employee for any act, omission, or event relating to Employee’s employment with the
Company or termination of employment therefrom occurring up to and including the date on which Employee signs this Release to the extent that any such claim, cause of action, suit, agreement, or damages is based on facts, acts, omissions,
circumstances, or events actually known as of the date of this Release to the Company’s Board of Directors (“Board”), or facts, acts, omissions, circumstances, or events which, as of the date of this Release, the Board reasonably
should have been aware of. 

  
 3 

 2.    Notwithstanding the generality of the foregoing, nothing herein
constitutes a release or waiver by Employee of, or prevents Employee from making or asserting: (i) any Claim or right Employee may have under COBRA; (ii) any Claim or right Employee may have for unemployment insurance benefits or
workers’ compensation benefits; (iii) any Claim or right Employee may have to vested benefits under the written terms of a qualified employee pension benefit plan; (iv) any Claim that cannot be waived as a matter of law pursuant to
federal, state or local law; (v) any medical claim incurred during your employment that is payable under applicable medical plans or an employer-insured liability plan; (vi) any Claim or right that may arise after the execution of this
Agreement; (vii) any Claim or right Employee may have under this Agreement; and/or (viii) any right, if any, to continued coverage under the Company’s applicable directors’ and officers’ or other third party liability
insurance policy(ies). In addition, nothing herein shall prevent Employee from filing a charge or complaint, either individually or with or on behalf of others, with the Equal Employment Opportunity Commission (“EEOC”), the National Labor
Relations Board (“NLRB”), the U.S. Department of Labor, the Occupational Safety and Health Commission, or any other federal, state, or local administrative agency or Employee’s ability to participate in any investigation or proceeding
conducted by such agency; provided, however, that pursuant to Paragraph 1, Employee is waiving any right to recover monetary damages or any other form of personal relief in connection with any such charge, complaint, investigation or proceeding. To
the extent Employee receives any personal or monetary relief in connection with any such charge, complaint, investigation or proceeding, the Company will be entitled to an offset for the payments made pursuant to Paragraph 2 of the Separation
Agreement. Notwithstanding this provision, nothing in this Agreement limits Employee’s ability to receive an award from a government-administered award program for information provided to any federal, state or local authority or administrative
agency and nothing in this Agreement requires an offset of any such award. 
 3.    This RELEASE is
binding on Employee, Employee’s heirs, legal representatives and assigns. However, it does not apply to any claim that may arise after the date that Employee signs this Release. 

4.    Employee represents that Employee has not filed any complaints, charges, claims, grievances, or lawsuits against the
Company, Moody’s and/or any related persons with any local, state or federal agency or court, or with any other forum. 

5.    Employee hereby acknowledges that: 
  

	 	a.	Employee has obtained independent legal advice from an attorney of Employee’s choice with respect to this Release, or Employee agrees that Employee has been instructed to consult with an attorney before signing
this Release and has knowingly and voluntarily chosen not to do so; 

  

	 	b.	Employee has had a period of at least twenty-one (21) days to review and consider this Release; 

 

	 	c.	Employee may not execute this Release before the Termination Date; 

  
 4 

	 	d.	Employee has freely and voluntarily entered into this Release after due consideration; 

  

	 	e.	Employee has the right to revoke this Release within seven (7) calendar days of signing it. Employee’s notice of revocation must be in writing and addressed and delivered to the attention of John Goggins, EVP-General Counsel, 7 World Trade Center at 250 Greenwich Street, New York, NY, 10007, by hand-delivery or by certified mail, return receipt requested, on or before the end of the
seven-day period; 

  

	 	f.	The benefits identified in Paragraph 2 of the Separation Agreement and described in Appendix A attached thereto will not become due until: (i) Employee has signed, and not revoked, the Separation Agreement, and
(ii) eight (8) days after the Company has received a signed copy of this Release. This Release will not be effective and enforceable against the Company until eight (8) days after the Company has received Employee’s signed copy of
this Agreement. That will be the “Effective Date” of this Release. If Employee revokes the Separation Agreement, or this Release, Employee will not receive the benefits set forth in Appendix A of the Separation Agreement; and

  

	 	g.	Employee acknowledges that in deciding to sign this Release, Employee has not relied on any promises or commitments, whether spoken or in writing, made to Employee by any Company representative, except for what is
expressly stated in the Separation Agreement previously provided to the Employee. 

 6.    Employee agrees
that if Employee fails to execute and return this Release to the Company on but not before the Termination Date, as defined in Appendix A of the Separation Agreement, the promises and agreements made by the Company herein and in the Separation
Agreement will have been revoked. 
 7.    This Release incorporates by reference, as if set forth fully herein, all
terms and conditions of the Separation Agreement between the Company and Employee, including the recitation of consideration provided by the Company. It is not Employee’s intention to otherwise change, alter or amend any of the terms and
conditions of the Separation Agreement, for which Employee received adequate consideration, and which remains in full force and effect. Employee acknowledges and agrees that Employee continues to be bound by the terms and conditions of the
Separation Agreement. 

  
 5 

 PLEASE READ the following declaration and sign this Release only if it is true on the Termination Date,
June 30, 2018: 
 Employee acknowledges that she has carefully read and considered this Release; that she has been given the
opportunity to review this Release with an attorney of her own choosing; that she understands by signing this Release and allowing it to become effective, she is forever relinquishing important legal rights and claims, including under the ADEA; and
that she freely and voluntarily consents to all terms of this Release with full understanding of what they mean. 
 IN WITNESS WHEREOF,
Employee and the Company by its duly authorized agent have hereunder executed this Release. 
  

									
	LINDA S. HUBER	 		 	MOODY’S CORPORATION
			
	 	 		 	 
		 		 	 John Goggins, EVP-General
Counsel

		 		 	 Authorized Agent

		 		 	
	 	 		 	 
	 Date signed by Linda S. Huber
	 		 	 Date signed by Moody’s Corporation

  
 6Exhibit 101

		

			 

		

		
			
		

		
			﻿
		

		
			PULSE BIOSCIENCES, INC.
		

		
			INDEMNIFICATION AGREEMENT
		

		
			This Indemnification Agreement (this “Agreement”) is dated as of [insert date], and is between Pulse Biosciences, Inc., a Nevada corporation (the “Company”), and [insert name of indemnitee] (“Indemnitee”).
		

		
			RECITALS
		

		
			A.Indemnitee’s service to the Company substantially benefits the Company.
		

		
			B.Individuals are reluctant to serve as directors or officers of corporations or in certain other capacities unless they are provided with adequate protection through insurance or indemnification against the risks of claims and actions against them arising out of such service.
		

		
			C.Indemnitee does not regard the protection currently provided by applicable law, the Company’s governing documents and any insurance as adequate under the present circumstances, and Indemnitee may not be willing to serve as a director or officer without additional protection.
		

		
			D.In order to induce Indemnitee to continue to provide services to the Company, it is reasonable, prudent and necessary for the Company to contractually obligate itself to indemnify, and to advance expenses on behalf of, Indemnitee as permitted by applicable law.
		

		
			E.This Agreement is a supplement to and in furtherance of the indemnification provided in the Company’s articles of incorporation and bylaws, and any resolutions adopted pursuant thereto, and this Agreement shall not be deemed a substitute therefor, nor shall this Agreement be deemed to limit, diminish or abrogate any rights of Indemnitee thereunder.
		

		
			The parties therefore agree as follows:
		

			
	
			
				 1.
			Definitions. 

			
	
			
				 (a)
			A “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following events:

			
	
			
				(i)
			Acquisition of Stock by Third Party. Any Person (as defined below) becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding securities;

			
	
			
				(ii)
			Change in Board Composition. During any period of two consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Company’s board of directors, and any new directors (other than a director designated by a person 
		

		 

 

		

			

		

			who has entered into an agreement with the Company to effect a transaction described in Sections 1(a)(i), 1(a)(iii) or 1(a)(iv)) whose election by the board of directors or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Company’s board of directors;

			
	
			
				(iii)
			Corporate Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

			
	
			
				(iv)
			Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; and

			
	
			
				(v)
			Other Events. Any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended, whether or not the Company is then subject to such reporting requirement.

		
			For purposes of this Section 1(a), the following terms shall have the following meanings:
		

			
	
			
				 (a)
			“Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended; provided, however, that “Person” shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

			
	
			
				 (b)
			“Beneficial Owner” shall have the meaning given to such term in Rule 13d-3 under the Securities Exchange Act of 1934, as amended; provided, however, that “Beneficial Owner” shall exclude any Person otherwise becoming a Beneficial Owner by reason of (i) the stockholders of the Company approving a merger of the Company with another entity or (ii) the Company’s board of directors approving a sale of securities by the Company to such Person.

			
	
			
				 (c)
			“Corporate Status” describes the status of a person who is or was a director, trustee, general partner, managing member, officer, employee, agent or fiduciary of the Company or any other Enterprise.

			
	
			
				 (d)
			 “Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

			
	
			
				 (e)
			“Enterprise” means the Company and any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary.

		 

		

			-2-

		

 

		

			

		

			
	
			
				 (f)
			“Expenses” include all reasonable and actually incurred attorneys’ fees, retainers, court costs, transcript costs, fees and costs of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses also include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond or other appeal bond or their equivalent, and (ii) for purposes of Section 12(c), Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

			
	
			
				 (g)
			“Independent Counsel” means a law firm, or a partner or member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter material to either such party (other than as Independent Counsel with respect to matters concerning Indemnitee under this Agreement, or other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

			
	
			
				 (h)
			“NGCL” refers to Chapter 78 of the Nevada Revised Statutes.

			
	
			
				 (i)
			“Proceeding” means any threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative nature, including any appeal therefrom and including without limitation any such Proceeding pending as of the date of this Agreement, in which Indemnitee was, is or will be involved as a party, a potential party, a non-party witness or otherwise by reason of (i) the fact that Indemnitee is or was a director or officer of the Company, (ii) any action taken by Indemnitee or any action or inaction on Indemnitee’s part while acting as a director or officer of the Company, or (iii) the fact that he or she is or was serving at the request of the Company as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary of the Company or any other Enterprise, in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification or advancement of expenses can be provided under this Agreement.

			
	
			
				 (j)
			Reference to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner he or she reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement.

			
	
			
				 2.
			Indemnity in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 2 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 2, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably 
		

		 

		

			-3-

		

 

		

			

		

			incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was unlawful. 

			
	
			
				 3.
			Indemnity in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 3 in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged by a court of competent jurisdiction to be liable to the Company, unless and only to the extent that any court in which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification for such expenses as such court shall deem proper.

			
	
			
				 4.
			Indemnification for Expenses of a Party Who is Wholly or Partly Successful. To the extent that Indemnitee is a party to or a participant in and is successful (on the merits or otherwise) in defense of any Proceeding or any claim, issue or matter therein, the Company shall indemnify Indemnitee against all Expenses actually incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. For purposes of this section, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

			
	
			
				 5.
			Indemnification for Expenses of a Witness. To the extent that Indemnitee is, by reason of his or her Corporate Status, a witness in any Proceeding to which Indemnitee is not a party, Indemnitee shall be indemnified to the extent permitted by applicable law against all Expenses actually incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

			
	
			
				 6.
			Additional Indemnification.

			
	
			
				 (a)
			Notwithstanding any limitation in Sections 2, 3 or 4, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable law if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on his or her behalf in connection with the Proceeding or any claim, issue or matter therein.

			
	
			
				 (b)
			For purposes of Section 6(a), the meaning of the phrase “to the fullest extent permitted by applicable law” shall include, but not be limited to:

			
	
			
				(i)
			the fullest extent permitted by the provision of the NGCL that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the NGCL; and

			
	
			
				(ii)
			the fullest extent authorized or permitted by any amendments to or replacements of the NGCL adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors.

		 

		

			-4-

		

 

		

			

		

			
	
			
				 7.
			Exclusions. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement, unless ordered by a court, to make any indemnity in connection with any Proceeding (or any part of any Proceeding):

			
	
			
				 (a)
			for which payment has actually been made to or on behalf of Indemnitee under any statute, insurance policy, indemnity provision, vote or otherwise, except with respect to any excess beyond the amount paid;

			
	
			
				 (b)
			for Indemnitee’s conduct which is (i) finally adjudged to have involved intentional misconduct, fraud or a knowing violation of the law and (ii) was material to the cause of action;

			
	
			
				 (c)
			for an accounting or disgorgement of profits pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of federal, state or local statutory law or common law, if Indemnitee is held liable therefor (including pursuant to any settlement arrangements);

			
	
			
				 (d)
			for any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Securities Exchange Act of 1934, as amended (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable therefor (including pursuant to any settlement arrangements);

			
	
			
				 (e)
			initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees, agents or other indemnitees, unless (i) the Company’s board of directors authorized the Proceeding (or the relevant part of the Proceeding) prior to its initiation, (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law, (iii) otherwise authorized in Section 12(c) or (iv) otherwise required by applicable law; or

			
	
			
				 (f)
			if prohibited by applicable law.

			
	
			
				 8.
			Advances of Expenses. The Company shall advance the Expenses incurred by Indemnitee in connection with any Proceeding prior to its final disposition, and such advancement shall be made as soon as reasonably practicable, but in any event no later than 30 days, after the receipt by the Company of a written statement or statements requesting such advances from time to time (which shall include invoices received by Indemnitee in connection with such Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditure made that would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice). Advances shall be unsecured and interest free and made without regard to Indemnitee’s ability to repay such advances. Indemnitee hereby undertakes to repay any advance to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. This Section 8 shall not apply to the extent advancement is prohibited by law and shall not apply to any Proceeding (or any part of any Proceeding) for which indemnity is not permitted under this Agreement, but shall apply to any Proceeding (or any part of any Proceeding) referenced in Section 7(c) or 7(d) prior to a determination that Indemnitee is not entitled to be indemnified by the Company.

			
	
			
				 9.
			Procedures for Notification and Defense of Claim.

			
	
			
				 (a)
			Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement of Expenses as soon as reasonably practicable 
		

		 

		

			-5-

		

 

		

			

		

			following the receipt by Indemnitee of notice thereof. The written notification to the Company shall include, in reasonable detail, a description of the nature of the Proceeding and the facts underlying the Proceeding. The failure by Indemnitee to notify the Company will not relieve the Company from any liability which it may have to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights, except to the extent that such failure or delay materially prejudices the Company.

			
	
			
				 (b)
			If, at the time of the receipt of a notice of a Proceeding pursuant to the terms hereof, the Company has directors’ and officers’ liability insurance in effect that may be applicable to the Proceeding, the Company shall give prompt notice of the commencement of the Proceeding to the insurers in accordance with the procedures set forth in the applicable policies. The Company shall thereafter take all commercially-reasonable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

			
	
			
				 (c)
			In the event the Company may be obligated to make any indemnity in connection with a Proceeding, the Company shall be entitled to assume the defense of such Proceeding with counsel approved by Indemnitee, which approval shall not be unreasonably withheld, conditioned or delayed, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee for any fees or expenses of counsel subsequently incurred by Indemnitee with respect to the same Proceeding. Notwithstanding the Company’s assumption of the defense of any such Proceeding, the Company shall be obligated to pay the fees and expenses of Indemnitee’s separate counsel to the extent (i) the employment of separate counsel by Indemnitee is authorized by the Company, (ii) counsel for the Company or Indemnitee shall have reasonably concluded that there is a conflict of interest between the Company and Indemnitee in the conduct of any such defense such that Indemnitee needs to be separately represented, (iii) the Company is not financially or legally able to perform its indemnification obligations or (iv) the Company shall not have retained, or shall not continue to retain, counsel to defend such Proceeding. The Company shall have the right to conduct such defense as it sees fit in its sole discretion. Regardless of any provision in this Agreement, Indemnitee shall have the right to employ counsel in any Proceeding at Indemnitee’s personal expense. The Company shall not be entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Company.

			
	
			
				 (d)
			Indemnitee shall give the Company such information and cooperation in connection with the Proceeding as may be reasonably appropriate.

			
	
			
				 (e)
			Indemnitee shall not enter into any settlement in connection with a Proceeding (or any part thereof) without ten days prior written notice to the Company.

			
	
			
				 (f)
			The Company shall have the right to settle any Proceeding (or any part thereof) without the consent of Indemnitee, provided that such settlement does not prejudice the Indemnitee or acknowledge wrongdoing on behalf of Indemnitee.

			
	
			
				 10.
			Procedures upon Application for Indemnification. 

			
	
			
				 (a)
			To obtain indemnification, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and as is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of the Proceeding. The Company shall, as soon as reasonably practicable after receipt of such a request for indemnification, advise the board of directors that Indemnitee has requested 
		

		 

		

			-6-

		

 

		

			

		

			indemnification. Any delay in providing the request will not relieve the Company from its obligations under this Agreement, except to the extent such failure is prejudicial.

			
	
			
				 (b)
			Upon written request by Indemnitee for indemnification pursuant to Section 10(a), a determination with respect to Indemnitee’s entitlement thereto shall be made in the specific case (i) if a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Company’s board of directors, a copy of which shall be delivered to Indemnitee or (ii) if a Change in Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even though less than a quorum of the Company’s board of directors, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Company’s board of directors, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Company’s board of directors, a copy of which shall be delivered to Indemnitee or (D) if so directed by the Company’s board of directors, by the stockholders of the Company. If it is determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten days after such determination. Indemnitee shall cooperate with the person, persons or entity making the determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information that is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements) actually and reasonably incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company, to the extent permitted by applicable law.

			
	
			
				 (c)
			In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(b), the Independent Counsel shall be selected as provided in this Section 10(c). If a Change in Control shall not have occurred, the Independent Counsel shall be selected by the Company’s board of directors, and the Company shall give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. If a Change in Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Company’s board of directors, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within ten days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided,  however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 1 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days after the later of (i) submission by Indemnitee of a written request for indemnification pursuant to Section 10(a) hereof and (ii) the final disposition of the Proceeding, the parties have not agreed upon an Independent Counsel, either the Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 10(b) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 12(a) of this Agreement, the Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

		 

		

			-7-

		

 

		

			

		

			
	
			
				 (d)
			The Company agrees to pay the reasonable fees and expenses of any Independent Counsel and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

			
	
			
				 11.
			Presumptions and Effect of Certain Proceedings.

			
	
			
				 (a)
			In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement, and the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption.

			
	
			
				 (b)
			The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his or her conduct was unlawful.

			
	
			
				 (c)
			For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith to the extent Indemnitee relied in good faith on (i) the records or books of account of the Enterprise, including financial statements, (ii) information supplied to Indemnitee by the officers of the Enterprise in the course of their duties, (iii) the advice of legal counsel for the Enterprise or its board of directors or counsel selected by any committee of the board of directors or (iv) information or records given or reports made to the Enterprise by an independent certified public accountant, an appraiser, investment banker or other expert selected with reasonable care by the Enterprise or its board of directors or any committee of the board of directors. Notwithstanding the foregoing, the Indemnitee is not entitled to rely on such information, opinions, reports, books of account or statements if the Indemnitee has knowledge concerning the matter in question that would cause reliance thereon to be unwarranted. The provisions of this Section 11(c) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

			
	
			
				 (d)
			Neither the knowledge, actions nor failure to act of any other director, officer, agent or employee of the Enterprise shall be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.

			
	
			
				 (e)
			If the person, persons or entity empowered or selected under Section 10 of this Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination within 60 days after receipt by the Company of the request therefor in accordance with this Agreement, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statements not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for obtaining or evaluating documentation or information relating thereto; and provided, further, that the foregoing provisions of this section shall not apply (i) if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 10(b) of this Agreement and if (A) within 15 days after receipt by the Company of the request for such determination the Board has resolved to submit such determination to the stockholders for their consideration at an annual meeting to be held within 75 days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders 
		

		 

		

			-8-

		

 

		

			

		

			is called within 15 days after receipt of such a request for the purpose of making such determination, such meeting is held for such purpose within 60 days after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(b) of this Agreement.

		
			﻿
		

			
	
			
				 12.
			Remedies of Indemnitee.

			
	
			
				 (a)
			In the event that (i) a determination is made pursuant to Section 10 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8 or 12(c) of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10 of this Agreement within 30 days after the later of the receipt by the Company of the request for indemnification or the final disposition of the Proceeding, (iv) payment of indemnification pursuant to this Agreement is not made (A) within ten days after a determination has been made that Indemnitee is entitled to indemnification or (B) with respect to indemnification pursuant to Sections 4, 5 and 12(c) of this Agreement, within 30 days after receipt by the Company of a written request therefor, or (v) the Company or any other person or entity takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding designed to deny, or to recover from,  Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by a court of competent jurisdiction of his or her entitlement to such indemnification or advancement of Expenses.  The Company shall not oppose Indemnitee’s right to seek any such adjudication in accordance with this Agreement.

			
	
			
				 (b)
			In any judicial proceeding commenced pursuant to this Section 12, in the event that the person, persons or entity empowered or selected under Section 10 of this Agreement to determine whether Indemnitee is entitled to indemnification has not made such a determination within the relevant time period provided for under Section 12(a) of this Agreement, the Company shall stipulate and may not contest that Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. 

			
	
			
				 (c)
			To the extent not prohibited by law, the Company shall indemnify Indemnitee against all Expenses that are incurred by Indemnitee in connection with any action for indemnification or advancement of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company to the extent Indemnitee is successful in such action, and, if requested by Indemnitee, shall (as soon as reasonably practicable, but in any event no later than 90 days, after receipt by the Company of a written request therefor) advance such Expenses to Indemnitee, subject to the provisions of Section 8.

			
	
			
				 (d)
			Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification shall be required to be made prior to the final disposition of the Proceeding.

			
	
			
				 13.
			Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amounts incurred by Indemnitee, whether for Expenses, judgments, fines or amounts paid or to be paid in settlement, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the events and 
		

		 

		

			-9-

		

 

		

			

		

			transactions giving rise to such Proceeding; and (ii) the relative fault of Indemnitee and the Company (and its other directors, officers, employees and agents) in connection with such events and transactions.

			
	
			
				 14.
			Non-exclusivity. The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Company’s articles of incorporation or bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. To the extent that a change in Nevada law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Company’s articles of incorporation and bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change, subject to the restrictions expressly set forth herein or therein. Except as expressly set forth herein, no right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. Except as expressly set forth herein, the assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

			
	
			
				 15.
			Primary Responsibility.  The Company acknowledges that Indemnitee may have certain rights to indemnification and advancement of expenses provided by certain affiliates thereof (collectively, the “Secondary Indemnitors”). The Company agrees that, as between the Company and the Secondary Indemnitors, the Company is primarily responsible for amounts required to be indemnified or advanced under the Company’s articles of incorporation or bylaws or this Agreement and any obligation of the Secondary Indemnitors to provide indemnification or advancement for the same amounts is secondary to those Company obligations. 

			
	
			
				 16.
			No Duplication of Payments. The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if and to the extent that Indemnitee has otherwise actually received payment for such amounts under any insurance policy, contract, agreement or otherwise.

			
	
			
				 17.
			Insurance. To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, trustees, general partners, managing members, officers, employees, agents or fiduciaries of the Company or any other Enterprise, Indemnitee shall be covered by such policy or policies to the same extent as the most favorably-insured persons under such policy or policies in a comparable position.

			
	
			
				 18.
			Subrogation. In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

			
	
			
				 19.
			Services to the Company. Indemnitee agrees to serve as a director or officer of the Company or, at the request of the Company, as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary of another Enterprise, for so long as Indemnitee is duly elected or appointed or until Indemnitee tenders his or her resignation or is removed from such position. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee in such position. This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee. Indemnitee specifically acknowledges that any employment with the Company (or any of its subsidiaries or any Enterprise) is at will, and Indemnitee may be discharged at any time for any reason, with or without cause, with or without notice, except as may be otherwise expressly provided in any executed, written employment contract between Indemnitee and the Company (or any of its subsidiaries 
		

		 

		

			-10-

		

 

		

			

		

			or any Enterprise), any existing formal severance policies adopted by the Company’s board of directors or, with respect to service as a director or officer of the Company, the Company’s articles of incorporation or bylaws or the NGCL. No such document shall be subject to any oral modification thereof. 

			
	
			
				 20.
			Duration. This Agreement shall continue until and terminate upon the later of (a) ten years after the date that Indemnitee shall have ceased to serve as a director or officer of the Company or as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary of any other Enterprise, as applicable; or (b) one year after the final termination of any Proceeding, including any appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant this Agreement relating thereto.

			
	
			
				 21.
			Successors. This Agreement shall be binding upon the Company and its successors and assigns, including any direct or indirect successor, by purchase, merger, consolidation or otherwise, to all or substantially all of the business or assets of the Company, and shall inure to the benefit of Indemnitee and Indemnitee’s heirs, executors and administrators. 

			
	
			
				 22.
			Severability. Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of applicable law. The Company’s inability, pursuant to court order or other applicable law, to perform its obligations under this Agreement shall not constitute a breach of this Agreement. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (i) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (ii) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (iii) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

			
	
			
				 23.
			Enforcement. The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director or officer of the Company.

			
	
			
				 24.
			Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided,  however, that this Agreement is a supplement to and in furtherance of the Company’s articles of incorporation and bylaws and applicable law. 

			
	
			
				 25.
			Modification and Waiver. No supplement, modification or amendment to this Agreement shall be binding unless executed in writing by the parties hereto. No amendment, alteration or repeal of this Agreement shall adversely affect any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration or repeal. No waiver of any of the provisions of this Agreement shall constitute or be deemed a waiver of any other provision of this Agreement nor shall any waiver constitute a continuing waiver. 

		 

		

			-11-

		

 

		

			

		

			
	
			
				 26.
			Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by facsimile or electronic mail or otherwise delivered by hand, messenger or courier service addressed:

			
	
			
				 (a)
			if to Indemnitee, to Indemnitee’s address as shown on the signature page of this Agreement or in the Company’s records, as may be updated in accordance with the provisions hereof; or

			
	
			
				 (b)
			if to the Company, to the attention of the Chief Executive Officer or Chief Financial Officer of the Company at 3957 Point Eden Way, Hayward, California 94545, or at such other current address as the Company shall have furnished to Indemnitee, with a copy (which shall not constitute notice) to Andrew D. Hoffman, Wilson Sonsini Goodrich & Rosati, P.C., 650 Page Mill Road, Palo Alto, California 94304.

		
			Each such notice or other communication shall for all purposes of this Agreement be treated as effective or having been given (i) if delivered by hand, messenger or courier service, when delivered (or if sent via a nationally-recognized overnight courier service, freight prepaid, specifying next-business-day delivery, one business day after deposit with the courier), or (ii) if sent via mail, at the earlier of its receipt or five days after the same has been deposited in a regularly-maintained receptacle for the deposit of the United States mail, addressed and mailed as aforesaid.
		

			
	
			
				 27.
			Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Nevada, without regard to its conflict of laws rules. To the extent such court has or can obtain jurisdiction, the Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the United States District Court for the District of Nevada and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the United States District Court for the District of Nevada for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process in the State of Nevada,  the registered agent of the Company as its agent in the State of Nevada as such party’s agent for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Nevada, (iv) waive any objection to the laying of venue of any such action or proceeding in the United States District Court for the District of Nevada, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the United States District Court for the District of Nevada has been brought in an improper or inconvenient forum.

			
	
			
				 28.
			Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature and in counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

			
	
			
				 29.
			Captions. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

		
			(signature page follows)
		

		
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			﻿
		

		
			The parties are signing this Indemnification Agreement as of the date stated in the introductory sentence.
		

		
			﻿
		

			
					
						﻿

					
					
						 

				
	
					
						 

					
					
						PULSE BIOSCIENCES, INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						(Signature)

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						(Print name)

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						(Title)

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						[INSERT INDEMNITEE NAME]

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						(Signature)

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						(Print name)

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						(Street address)

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						(City, State and ZIP)

				

		
			﻿

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