Document:

CODORUS VALLEY BANCORP, INC. 8-K

 

Exhibit
10.1

 

Supplemental
Executive Retirement Plan

 

This
Supplemental Executive Retirement Plan (the “Agreement”), by and between PeoplesBank, A Codorus Valley Company, a
state-chartered commercial bank located in York, Pennsylvania (the “Employer”), and Diane Baker (the “Executive”),
effective as of the 29th day of January, 2019, formalizes the agreements and understanding between the Employer and the Executive.

 

WITNESSETH:

 

WHEREAS,
the Executive is employed by the Employer;

 

WHEREAS,
the Employer recognizes the valuable services the Executive has performed for the Employer and wishes to encourage the Executive’s
continued employment and to provide the Executive with additional incentive to achieve corporate objectives;

 

WHEREAS,
the Employer wishes to provide the terms and conditions upon which the Employer shall pay additional retirement benefits to the
Executive;

 

WHEREAS,
the Employer and the Executive intend this Agreement shall at all times be administered and interpreted in compliance with Code
Section 409A; and

 

WHEREAS,
the Employer intends this Agreement shall at all times be administered and interpreted in such a manner as to constitute an unfunded
nonqualified deferred compensation arrangement, maintained primarily to provide supplemental retirement benefits for the Executive,
a member of select group of management or highly compensated employee of the Employer.

 

NOW
THEREFORE, in consideration of the premises and of the mutual promises herein contained, the Employer and the Executive agree
as follows:

 

ARTICLE
1 

DEFINITIONS

 

For
the purpose of this Agreement, the following phrases or terms shall have the indicated meanings:

 

1.1         “Accrued
Benefit” means the dollar value of the liability that should be accrued by the Employer, under Generally Accepted Accounting
Principles, for the Employer’s obligation to the Executive under this Agreement, calculated by applying Accounting Standards
Codification 710-10 and the Discount Rate.

 

1.2         “Administrator”
means the Board or its designee. 

 

    

     

    

 

1.3         “Affiliate”
means any business entity with whom the Employer would be considered a single employer under Section 414(b) and 414(c) of
the Code. Such term shall be interpreted in a manner consistent with the definition of “service recipient” contained
in Code Section 409A.

 

1.4         “Beneficiary”
means the person or persons designated in writing by the Executive to receive benefits hereunder in the event of the Executive’s
death.

 

1.5         “Board”
means the Board of Directors of the Employer.

 

1.6         “Cause”
means any of the following acts or circumstances: gross negligence or gross neglect of duties to the Employer; conviction
of a felony or of a gross misdemeanor involving moral turpitude in connection with the Executive’s employment with the Employer;
or fraud, disloyalty, dishonesty or willful violation of any law or significant Employer policy committed in connection with the
Executive's employment and resulting in a material adverse effect on the Employer.

 

1.7         “Change
in Control” means a change in the ownership or effective control of the Employer, or in the ownership of a substantial
portion of the assets of the Employer, as such change is defined in Code Section 409A and regulations thereunder. 

 

1.8         “Claimant”
means a person who believes that he or she is being denied a benefit to which he or she is entitled hereunder.

 

1.9         “Code”
means the Internal Revenue Code of 1986, as amended.

 

1.10      “Disability”
means a condition of the Executive whereby the Executive either: (i) is unable to engage in any substantial gainful activity
by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected
to last for a continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable physical or mental
impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months,
receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees
of the Employer. The Administrator will determine whether the Executive has incurred a Disability based on its own good faith
determination and may require the Executive to submit to reasonable physical and mental examinations for this purpose. The Executive
will also be deemed to have incurred a Disability if determined to be totally disabled by the Social Security Administration or
in accordance with a disability insurance program, provided that the definition of disability applied under such disability insurance
program complies with the initial sentence of this Section.

 

1.11      “Discount
Rate” means the rate used by the Administrator for determining the Accrued Benefit. The initial Discount Rate is four
per cent (4.0%). The Administrator may adjust the Discount Rate to maintain the rate within reasonable standards according to
Generally Accepted Accounting Principles and applicable bank regulatory guidance.

 

    2

     

    

 

1.12      “Early
Termination” means Separation from Service before the Normal Benefit Date except when such Separation from Service occurs
following a Change in Control or due to termination for Cause. 

 

1.13      “Effective
Date” means January 1, 2019.

 

1.14      “ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.

 

1.15      “Normal
Benefit Date” means January 1, 2034.

 

1.16      “Plan
Year” means each twelve (12) month period commencing on January 1 and ending on December 31 of each year. 

 

1.17      “Schedule
A” means the schedule attached hereto and made a part hereof. Schedule A shall be updated upon a change to any of the
benefits described in Article 2 hereof.

 

1.18      “Separation
from Service” means a termination of the Executive’s employment with the Employer and its Affiliates for reasons
other than death or Disability. A Separation from Service may occur as of a specified date for purposes of the Agreement even
if the Executive continues to provide some services for the Employer or its Affiliates after that date, provided that the facts
and circumstances indicate that the Employer and the Executive reasonably anticipated at that date that either no further services
would be performed after that date, or that the level of bona fide services the Executive would perform after such date (whether
as an employee or as an independent contractor) would permanently decrease to no more than twenty percent (20%) of the average
level of bona fide services performed over the immediately preceding thirty-six (36) month period (or the full period during which
the Executive performed services for the Employer, if that is less than thirty-six (36) months). A Separation from Service will
not be deemed to have occurred while the Executive is on military leave, sick leave, or other bona fide leave of absence if the
period of such leave does not exceed six (6) months or, if longer, the period for which a statute or contract provides the Executive
with the right to reemployment with the Employer. If the Executive’s leave exceeds six (6) months but the Executive is not
entitled to reemployment under a statute or contract, the Executive incurs a Separation from Service on the next day following
the expiration of such six (6) month period. In determining whether a Separation from Service occurs the Administrator shall take
into account, among other things, the definition of “service recipient” and “employer” set forth in Treasury
regulation §1.409A-1(h)(3). The Administrator shall have full and final authority, to determine conclusively whether a Separation
from Service occurs, and the date of such Separation from Service.

 

1.19      “Specified
Employee” means an individual that satisfies the definition of a “key employee” of the Employer as such
term is defined in Code §416(i) (without regard to Code §416(i)(5)), provided that the stock of the Employer is publicly
traded on an established securities market or otherwise, as defined in Code §1.897-1(m). If the Executive is a key employee
at any time during the twelve (12) months ending on December 31, the Executive is a Specified Employee for the twelve (12) month
period commencing on the first day of the following April.

 

    3

     

    

 

ARTICLE
2

PAYMENT
OF BENEFITS

 

2.1         Normal
Benefit. Unless Separation from Service occurs prior to the Normal Benefit Date, the Employer shall pay the Executive an annual
benefit in the amount of Seventy-Five Thousand Dollars ($75,000) at the Normal Benefit Date in lieu of any other benefit hereunder.
The annual benefit will be paid for fifteen (15) years in equal monthly installments commencing the month of the Normal Benefit
Date.

 

2.2         Early
Termination Benefit. If Early Termination occurs, the Employer shall pay the Executive the amount shown on Schedule A for
the Plan Year ending immediately prior to Separation from Service in lieu of any other benefit hereunder. Additionally, the annual
benefit shall be increased by a pro-rated amount relative to the Executive’s service during the partial Plan Year in which
Separation from Service takes place. The annual benefit will be paid for fifteen (15) years in equal monthly installments commencing
the month following Separation from Service.

 

2.3         Disability
Benefit. In the event the Executive suffers a Disability prior to the Normal Benefit Date the Employer shall pay the Executive
the annual benefit shown on Schedule A for the Plan Year ending immediately prior to Disability in lieu of any other benefit hereunder.
Additionally, the annual benefit shall be increased by a pro-rated amount relative to the Executive’s service during the
partial Plan Year in which Disability takes place. The annual benefit will be paid for fifteen (15) years in equal monthly installments
commencing the month following Disability.

 

2.4         Change
in Control Benefit. If a Change in Control occurs prior to Separation from Service, Disability and the Normal Benefit Date,
the Employer shall pay the Executive an annual benefit in the amount of Seventy-Five Thousand Dollars ($75,000) in lieu of any
other benefit hereunder. The annual benefit will be paid for fifteen (15) years in equal monthly installments commencing the month
of the Normal Benefit Date.

 

2.5         Death
Prior to Commencement of Benefit Payments. In the event the Executive dies prior to Separation from Service, Disability and
the Normal Benefit Date, the Employer shall pay the Beneficiary the amount shown on Schedule A for the Plan Year ending immediately
prior to the Executive’s death in lieu of any other benefit hereunder. Additionally, the annual benefit shall be increased
by a pro-rated amount relative to the Executive’s service during the partial Plan Year in which the Executive’s death
takes place. The benefit will be paid in a lump sum during the month following the Executive’s death.

 

2.6         Death
Subsequent to Commencement of Benefit Payments. In the event the Executive dies while receiving payments, but prior to receiving
all payments due and owing hereunder, the Employer shall pay the Beneficiary the same amounts at the same times as the Employer
would have paid the Executive had the Executive survived.

 

    4

     

    

 

2.7         Termination
for Cause. If the Employer terminates the Executive’s employment for Cause, then the Executive shall not be entitled
to any benefits under the terms of this Agreement.

 

2.8         Restriction
on Commencement of Distributions.  Notwithstanding any provision of this Agreement to the contrary, if the Executive
is considered a Specified Employee at the time of Separation from Service, the provisions of this Section shall govern all distributions
hereunder. Distributions which would otherwise be made to the Executive due to Separation from Service shall not be made during
the first six (6) months following Separation from Service. Rather, any distribution which would otherwise be paid to the Executive
during such period shall be accumulated and paid to the Executive in a lump sum on the first day of the seventh month following
Separation from Service, or if earlier, upon the Executive’s death. All subsequent distributions shall be paid as they would
have had this Section not applied.

 

2.9         Acceleration
of Payments. Except as specifically permitted herein, no acceleration of the time or schedule of any payment may be made hereunder.
Notwithstanding the foregoing, payments may be accelerated, in accordance with the provisions of Treasury Regulation §1.409A-3(j)(4)
in the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements
with the federal government; (iii) in compliance with the ethics laws or conflicts of interest laws; (iv) in limited cashouts
(but not in excess of the limit under Code §402(g)(1)(B)); (v) to pay employment-related taxes; or (vi) to pay any taxes
that may become due at any time that the Agreement fails to meet the requirements of Code Section 409A.

 

2.10       Delays
in Payment by Employer. A payment may be delayed to a date after the designated payment date under any of the circumstances
described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay
in the payment will not constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated
participants on a reasonably consistent basis.

 

(a)       Payments
subject to Code Section 162(m). If the Employer reasonably anticipates that the Employer’s deduction with respect to
any distribution under this Agreement would be limited or eliminated by application of Code Section 162(m), then to the extent
deemed necessary by the Employer to ensure that the entire amount of any distribution from this Agreement is deductible, the Employer
may delay payment of any amount that would otherwise be distributed under this Agreement. The delayed amounts shall be distributed
to the Executive (or the Beneficiary in the event of the Executive’s death) at the earliest date the Employer reasonably
anticipates that the deduction of the payment of the amount will not be limited or eliminated by application of Code Section 162(m).

 

(b)       Payments
that would violate Federal securities laws or other applicable law. A payment may be delayed where the Employer reasonably
anticipates that the making of the payment will violate Federal securities laws or other applicable law provided that the payment
is made at the earliest date at which the Employer reasonably anticipates that the making of the payment will not cause such violation.
The making of a payment that would cause inclusion in gross income or the application of any penalty provision of the Internal
Revenue Code is not treated as a violation of law.

 

    5

     

    

 

(c)       Solvency.
Notwithstanding the above, a payment may be delayed where the payment would jeopardize the ability of the Employer to continue
as a going concern.

 

2.11      Treatment
of Payment as Made on Designated Payment Date. Solely for purposes of determining compliance with Code Section 409A, any payment
under this Agreement made after the required payment date shall be deemed made on the required payment date provided that such
payment is made by the latest of: (i) the end of the calendar year in which the payment is due; (ii) the 15th day of
the third calendar month following the payment due date; (iii) if Employer cannot calculate the payment amount on account of administrative
impracticality which is beyond the Executive’s control, the end of the first calendar year which payment calculation is
practicable; and (iv) if Employer does not have sufficient funds to make the payment without jeopardizing the Employer’s
solvency, in the first calendar year in which the Employer’s funds are sufficient to make the payment.

 

2.12      Facility
of Payment. If a distribution is to be made to a minor, or to a person who is otherwise incompetent, then the Administrator
may make such distribution: (i) to the legal guardian, or if none, to a parent of a minor payee with whom the payee maintains
his or her residence; or (ii) to the conservator or administrator or, if none, to the person having custody of an incompetent
payee. Any such distribution shall fully discharge the Employer and the Administrator from further liability on account thereof.

 

2.13      Excise
Tax Limitation. Notwithstanding any provision of this Agreement to the contrary, if any benefit payment hereunder would be
treated as an “excess parachute payment” under Code Section 280G, the Employer shall reduce such benefit payment to
the extent necessary to avoid treating such benefit payment as an excess parachute payment. The Executive shall be entitled to
only the reduced benefit and shall forfeit any amount over and above the reduced amount.

 

2.14      Changes
in Form or Timing of Benefit Payments. The Employer and the Executive may, subject to the terms hereof, amend this Agreement
to delay the timing or change the form of payments. Any such amendment:

 

(a)       must
take effect not less than twelve (12) months after the amendment is made;

(b)      must,
for benefits distributable due solely to the arrival of a specified date, or on account of Separation from Service or Change in
Control, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally
scheduled to be made;

 

    6

     

    

 

(c)       must,
for benefits distributable due solely to the arrival of a specified date, be made not less than twelve (12) months before distribution
is scheduled to begin; and

(d)      may
not accelerate the time or schedule of any distribution.

 

ARTICLE
3

BENEFICIARIES

 

3.1         Designation
of Beneficiaries. The Executive may designate any person to receive any benefits payable under the Agreement upon the Executive’s
death, and the designation may be changed from time to time by the Executive by filing a new designation. Each designation will
revoke all prior designations by the Executive, shall be in the form prescribed by the Administrator, and shall be effective only
when filed in writing with the Administrator during the Executive’s lifetime. If the Executive names someone other than
the Executive’s spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent is
required to be provided in a form designated by the Administrator, executed by the Executive’s spouse and returned to the
Administrator. The Executive’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases
the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved.

 

3.2         Absence
of Beneficiary Designation. In the absence of a valid Beneficiary designation, or if, at the time any benefit payment is due
to a Beneficiary, there is no living Beneficiary validly named by the Executive, the Employer shall pay the benefit payment to
the Executive’s spouse. If the spouse is not living then the Employer shall pay the benefit payment to the Executive’s
living descendants per stirpes, and if there are no living descendants, to the Executive’s estate. In determining
the existence or identity of anyone entitled to a benefit payment, the Employer may rely conclusively upon information supplied
by the Executive’s personal representative, executor, or administrator.

 

ARTICLE
4

ADMINISTRATION

 

4.1         Administrator
Duties. The Administrator shall be responsible for the management, operation, and administration of the Agreement. When making
a determination or calculation, the Administrator shall be entitled to rely on information furnished by the Employer, Executive
or Beneficiary. No provision of this Agreement shall be construed as imposing on the Administrator any fiduciary duty under ERISA
or other law, or any duty similar to any fiduciary duty under ERISA or other law.

 

4.2         Administrator
Authority. The Administrator shall enforce this Agreement in accordance with its terms, shall be charged with the general
administration of this Agreement, and shall have all powers necessary to accomplish its purposes.

 

4.3         Binding
Effect of Decision. The decision or action of the Administrator with respect to any question arising out of or in connection
with the administration, interpretation or application of this Agreement and the rules and regulations promulgated hereunder shall
be final, conclusive and binding upon all persons having any interest in this Agreement.

 

    7

     

    

 

4.4         Compensation,
Expenses and Indemnity. The Administrator shall serve without compensation for services rendered hereunder. The Administrator
is authorized at the expense of the Employer to employ such legal counsel and/or recordkeeper as it may deem advisable to assist
in the performance of its duties hereunder. Expense and fees in connection with the administration of this Agreement shall be
paid by the Employer.

 

4.5         Employer
Information. The Employer shall supply full and timely information to the Administrator on all matters relating to the Executive’s
compensation, death, Disability or Separation from Service, and such other information as the Administrator reasonably requires.

 

4.6         Termination
of Participation. If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select
group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the
right, in its sole discretion, to cease further benefit accruals hereunder.

 

4.7         Compliance
with Code Section 409A. The Employer and the Executive intend that the Agreement comply with the provisions of Code Section
409A to prevent the inclusion in gross income of any amounts deferred hereunder in a taxable year prior to the year in which amounts
are actually paid to the Executive or Beneficiary. This Agreement shall be construed, administered and governed in a manner that
affects such intent, and the Administrator shall not take any action that would be inconsistent therewith.

 

ARTICLE
5 

Claims
and Review Procedures

 

5.1         Claims
Procedure. A Claimant who has not received benefits under this Agreement that he or she believes should be distributed shall
make a claim for such benefits as follows.

 

(a)       Initiation
– Written Claim. The Claimant initiates a claim by submitting to the Administrator a written claim for the benefits.
If such a claim relates to the contents of a notice received by the Claimant, the claim must be made within sixty (60) days after
such notice was received by the Claimant. All other claims must be made within one hundred eighty (180) days of the date on which
the event that caused the claim to arise occurred. The claim must state with particularity the determination desired by the Claimant.

(b)       Timing
of Administrator Response. The Administrator shall respond to such Claimant within forty-five (45) days after receiving the
claim. If the Administrator determines that special circumstances require additional time for processing the claim, the Administrator
can extend the response period by an additional thirty (30) days by notifying the Claimant in writing, prior to the end of the
initial forty-five (45) day period, that an additional period is required. The extension notice shall specifically explain the
standards on which entitlement to a disability benefit is based, the unresolved issues that prevent a decision on the claim and
the additional information needed from the Claimant to resolve those issues, and the Claimant shall be afforded at least forty-five
(45) days within which to provide the specified information.

 

    8

     

    

 

(c)       Notice
of Decision. If the Administrator denies all or a part of the claim, the Administrator shall notify the Claimant in writing
of such denial in a culturally and linguistically appropriate manner. The Administrator shall write the notification in a manner
calculated to be understood by the Claimant. The notification shall set forth: (i) the specific reasons for the denial; (ii) a
reference to the specific provisions of this Agreement on which the denial is based; (iii) a notice that the Claimant has a right
to request a review of the claim denial and an explanation of the Agreement’s review procedures and the time limits applicable
to such procedures; (iv) a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a) following
an adverse benefit determination on review, and a description of any time limit for bringing such an action; (v) for any Disability
claim, a discussion of the decision, including an explanation of the basis for disagreeing with or not following: (A) the views
presented by the Claimant of health care professionals treating the Claimant and vocational professionals who evaluated the Claimant;
(B) the views of medical or vocational experts whose advice was obtained on behalf of the Employer in connection with a Claimant’s
adverse benefit determination, without regard to whether the advice was relied upon in making the benefit determination; or (C)
a disability determination regarding the Claimant presented by the Claimant made by the Social Security Administration (vi) for
any Disability claim, the specific internal rules, guidelines, protocols, standards or other similar criteria relied upon in making
the adverse determination or, alternatively, a statement that such rules, guidelines, protocols, standards or other similar criteria
do not exist; and (viii) for any Disability claim, a statement that the Claimant is entitled to receive, upon request and free
of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the Claimant’s
claim for benefits. Whether a document, record, or other information is relevant to a claim for benefits shall be determined by
Department of Labor Regulation Section 2560.503-1(m)(8).

 

5.2         Review
Procedure. If the Administrator denies all or a part of the claim, the Claimant shall have the opportunity for a full and
fair review by the Administrator of the denial as follows.

 

(a)       Additional
Evidence. Prior to the review of the denied claim, the Claimant shall be given, free of charge, any new or additional evidence
considered, relied upon, or generated by the Administrator, or any new or additional rationale, as soon as possible and sufficiently
in advance of the date on which the notice of adverse benefit determination on review is required to be provided, to give the
Claimant a reasonable opportunity to respond prior to that date.

 

    9

     

    

 

(b)       Initiation
– Written Request. To initiate the review, the Claimant, within sixty (60) days after receiving the Administrator’s
notice of denial, must file with the Administrator a written request for review.

(c)       Additional
Submissions – Information Access. After such request the Claimant may submit written comments, documents, records and
other information relating to the claim. The Administrator shall also provide the Claimant, upon request and free of charge, reasonable
access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to
the Claimant’s claim for benefits.

(d)       Considerations
on Review. In considering the review, the Administrator shall consider all materials and information the Claimant submits
relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.
Additional considerations shall be required in the case of a claim for Disability benefits. The claim shall be reviewed by an
individual or committee who did not make the initial determination that is subject of the appeal and who is not a subordinate
of the individual who made the determination. Additionally, the review shall be made without deference to the initial adverse
benefit determination. If the initial adverse benefit determination was based in whole or in part on a medical judgment, the Administrator
will consult with a health care professional with appropriate training and experience in the field of medicine involving the medical
judgment. The health care professional who is consulted on appeal will not be the same individual who was consulted during the
initial determination and will not be the subordinate of such individual. If the Administrator obtained the advice of medical
or vocational experts in making the initial adverse benefits determination (regardless of whether the advice was relied upon),
the Administrator will identify such experts.

(e)       Timing
of Administrator Response. The Administrator shall respond in writing to such Claimant within forty-five (45) days after receiving
the request for review. If the Administrator determines that special circumstances require additional time for processing the
claim, the Administrator can extend the response period by an additional forty-five (45) days by notifying the Claimant in writing,
prior to the end of the initial forty-five (45) day period, that an additional period is required. The notice of extension must
set forth the special circumstances and the date by which the Administrator expects to render its decision.

(f)       Notice
of Decision. The Administrator shall notify the Claimant in writing of its decision on review. The Administrator shall write
the notification in a culturally and linguistically appropriate manner calculated to be understood by the Claimant. The notification
shall set forth: (i) the specific reasons for the denial; (ii) a reference to the specific provisions of this Agreement on which
the denial is based; (iii) a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access
to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the Claimant’s
claim for benefits; (iv) a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a); (v) for
any Disability claim, a discussion of the decision, including an explanation of the basis for disagreeing with or not following:
(A) the views presented by the Claimant of health care professionals treating the Claimant and vocational professionals who evaluated
the Claimant; (B) the views of medical or vocational experts whose advice was obtained on behalf of the Employer in connection
with a Claimant’s adverse benefit determination, without regard to whether the advice was relied upon in making the benefit
determination; or (C) a disability determination regarding the Claimant presented by the Claimant made by the Social Security
Administration; and (vi) for any Disability claim, the specific internal rules, guidelines, protocols, standards or other similar
criteria relied upon in making the adverse determination or, alternatively, a statement that such rules, guidelines, protocols,
standards or other similar criteria do not exist.

 

    10

     

    

 

5.3         Exhaustion
of Remedies. The Claimant must follow these claims review procedures and exhaust all administrative remedies before taking
any further action with respect to a claim for benefits.

 

5.4         Failure
to Follow Procedures. In the case of a claim for Disability benefits, if the Administrator fails to strictly adhere to all
the requirements of this claims procedure with respect to a Disability claim, the Claimant is deemed to have exhausted the administrative
remedies available under the Agreement, and shall be entitled to pursue any available remedies under ERISA Section 502(a) on the
basis that the Administrator has failed to provide a reasonable claims procedure that would yield a decision on the merits of
the claim, except where the violation was: (a) de minimis; (b) non-prejudicial; (c) attributable to good cause or matters beyond
the Administrator’s control; (d) in the context of an ongoing good-faith exchange of information; and (e) not reflective
of a pattern or practice of noncompliance. The Claimant may request a written explanation of the violation from the Administrator,
and the Administrator must provide such explanation within ten (10) days, including a specific description of its basis, if any,
for asserting that the violation should not cause the administrative remedies to be deemed exhausted. If a court rejects the Claimant’s
request for immediate review on the basis that the Administrator met the standards for the exception, the claim shall be considered
as re-filed on appeal upon the Administrator’s receipt of the decision of the court. Within a reasonable time after the
receipt of the decision, the Administrator shall provide the claimant with notice of the resubmission.

 

ARTICLE
6 

AMENDMENT
AND TERMINATION

 

6.1         Agreement
Amendment Generally. Except as provided in Section 6.2, this Agreement may be amended only by a written agreement signed by
both the Employer and the Executive.

 

6.2         Amendment
to Insure Proper Characterization of Agreement. Notwithstanding anything in this Agreement to the contrary, the Agreement
may be amended by the Employer at any time, if found necessary in the opinion of the Employer, i) to ensure that the Agreement
is characterized as plan of deferred compensation maintained for a select group of management or highly compensated employees
as described under ERISA, ii) to conform the Agreement to the requirements of any applicable law or iii) to comply with the written
instructions of the Employer’s auditors or banking regulators.

 

    11

     

    

 

 

6.3         Agreement
Termination Generally. Except as provided in Section 6.4, this Agreement may be terminated only by a written agreement signed
by the Employer and the Executive. Such termination shall not cause a distribution of benefits under this Agreement. Rather, upon
such termination benefit distributions will be made at the earliest distribution event permitted under Article 2.

 

6.4         Effect
of Complete Termination. Notwithstanding anything to the contrary in Section 6.3, and subject to the requirements of Code
Section 409A and Treasury Regulations §1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate
the Agreement. In the event of a complete termination under subsection (a) or (c) below, the Employer shall pay the Executive
the Accrued Benefit. In the event of a complete termination under subsection (b) below, the Employer shall pay the Executive the
present value of the benefit described in Section 2.4, calculated using a discount rate of four percent (4.0%). In any event,
such complete termination of the Agreement shall occur only under the following circumstances and conditions.

 

(a)       Corporate
Dissolution or Bankruptcy. The Employer may terminate and liquidate this Agreement within twelve (12) months of a corporate
dissolution taxed under Code Section 331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A),
provided that all benefits paid under the Agreement are included in the Executive’s gross income in the latest of: (i) the
calendar year which the termination occurs; (ii) the calendar year in which the amount is no longer subject to a substantial risk
of forfeiture; or (iii) the first calendar year in which the payment is administratively practicable.

(b)       Change
in Control. The Employer may terminate and liquidate this Agreement by taking irrevocable action to terminate and liquidate
within the thirty (30) days preceding or the twelve (12) months following a Change in Control. This Agreement will then be treated
as terminated only if all substantially similar arrangements sponsored by the Employer which are treated as deferred under a single
plan under Treasury Regulations §1.409A-1(c)(2) are terminated and liquidated with respect to each participant who experienced
the Change in Control so that the Executive and any participants in any such similar arrangements are required to receive all
amounts of compensation deferred under the terminated arrangements within twelve (12) months of the date the Employer takes the
irrevocable action to terminate the arrangements.

(c)       Discretionary
Termination. The Employer may terminate and liquidate this Agreement provided that: (i) the termination does not occur proximate
to a downturn in the financial health of the Employer; (ii) all arrangements sponsored by the Employer and Affiliates that would
be aggregated with any terminated arrangements under Treasury Regulations §1.409A-1(c) are terminated; (iii) no payments,
other than payments that would be payable under the terms of this Agreement if the termination had not occurred, are made within
twelve (12) months of the date the Employer takes the irrevocable action to terminate this Agreement; (iv) all payments are made
within twenty-four (24) months following the date the Employer takes the irrevocable action to terminate and liquidate this Agreement;
and (v) neither the Employer nor any of its Affiliates adopt a new arrangement that would be aggregated with any terminated arrangement
under Treasury Regulations §1.409A-1(c) if the Executive participated in both arrangements, at any time within three (3)
years following the date the Employer takes the irrevocable action to terminate this Agreement.

 

    12

     

    

 

 

ARTICLE
7 

MISCELLANEOUS

 

7.1         No
Effect on Other Rights. This Agreement constitutes the entire agreement between the Employer and the Executive as to the subject
matter hereof. No rights are granted to the Executive by virtue of this Agreement other than those specifically set forth herein.
Nothing contained herein will confer upon the Executive the right to be retained in the service of the Employer nor limit the
right of the Employer to discharge or otherwise deal with the Executive without regard to the existence hereof.

 

7.2         State
Law. This Agreement and all rights hereunder shall be governed by and construed according to the laws of the Commonwealth
of Pennsylvania, except to the extent preempted by the laws of the United States of America.

 

7.3         Validity.
In case any provision of this Agreement shall be illegal or invalid for any reason, said illegality or invalidity shall not affect
the remaining parts hereof, but this Agreement shall be construed and enforced as if such illegal or invalid provision had never
been inserted herein.

 

7.4         Nonassignability.
Benefits under this Agreement cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner.

 

7.5         Unsecured
General Creditor Status. Payment to the Executive or any Beneficiary hereunder shall be made from assets which shall continue,
for all purposes, to be part of the general, unrestricted assets of the Employer and no person shall have any interest in any
such asset by virtue of any provision of this Agreement. The Employer’s obligation hereunder shall be an unfunded and unsecured
promise to pay money in the future. In the event that the Employer purchases an insurance policy insuring the life of the Executive
to recover the cost of providing benefits hereunder, neither the Executive nor the Beneficiary shall have any rights whatsoever
in said policy or the proceeds therefrom.

 

7.6         Life
Insurance. If the Employer chooses to obtain insurance on the life of the Executive in connection with its obligations under
this Agreement, the Executive hereby agrees to take such physical examinations and to truthfully and completely supply such information
as may be required by the Employer or the insurance company designated by the Employer.

 

    13

     

    

 

7.7         Unclaimed
Benefits. The Executive shall keep the Employer informed of the Executive’s current address and the current address
of the Beneficiary. If the location of the Executive is not made known to the Employer within three years after the date upon
which any payment of any benefits may first be made, the Employer shall delay payment of the Executive’s benefit payment(s)
until the location of the Executive is made known to the Employer; however, the Employer shall only be obligated to hold such
benefit payment(s) for the Executive until the expiration of three (3) years. Upon expiration of the three (3) year period, the
Employer may discharge its obligation by payment to the Beneficiary. If the location of the Beneficiary is not made known to the
Employer by the end of an additional two (2) month period following expiration of the three (3) year period, the Employer may
discharge its obligation by payment to the Executive’s estate. If there is no estate in existence at such time or if such
fact cannot be determined by the Employer, the Executive and Beneficiary shall thereupon forfeit all rights to any benefits provided
under this Agreement.

 

7.8         Suicide
or Misstatement. No benefit shall be distributed hereunder if the Executive commits suicide within two (2) years after the
Effective Date, or if an insurance company which issued a life insurance policy covering the Executive and owned by the Employer
denies coverage (i) for material misstatements of fact made by the Executive on an application for life insurance, or (ii) for
any other reason.

 

7.9         Removal.
Notwithstanding anything in this Agreement to the contrary, the Employer shall not distribute any benefit under this Agreement
if the Executive is subject to a final removal or prohibition order issued pursuant to Section 8(e) of the Federal Deposit Insurance
Act. Furthermore, any payments made to the Executive pursuant to this Agreement shall, if required, comply with 12 U.S.C. 1828,
FDIC Regulation 12 CFR Part 359 and any other regulations or guidance promulgated thereunder.

 

7.10       Forfeiture
Provision. The Executive shall forfeit any non-distributed benefits under this Agreement if, within three (3) years following
the termination of the Executive’s employment, the Executive, directly or indirectly, either as an individual or as a proprietor,
stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership,
corporation or other entity (excluding an ownership interest of three percent (3%) or less in the stock of a publicly-traded company):

 

(i)        becomes
employed by, participates in, or becomes connected in any manner with the ownership, management, operation or control of any bank,
savings and loan or other similar financial institution if the Executive’s responsibilities will include providing banking
or other financial services within fifty (50) miles of any office maintained by the Employer as of the date of the termination
of the Executive’s employment;

(ii)      participates
in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary,
part-time or permanent basis, any individual who was employed by the Employer as of the date of termination of the Executive’s
employment;

 

    14

     

    

 

(iii)     assists,
advises, or serves in any capacity, representative or otherwise, any third party in any action against the Employer or transaction
involving the Employer;

(iv)     sells,
offers to sell, provides banking or other financial services, assists any other person in selling or providing banking or other
financial services, or solicits or otherwise competes for, either directly or indirectly, any orders, contract, or accounts for
services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the
Employer (the preceding hereinafter referred to as “Services”), to or from any person or entity from whom the Executive
or the Employer, to the knowledge of the Executive provided banking or other financial services, sold, offered to sell or solicited
orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the Executive’s
employment;

(v)       divulges,
discloses, or communicates to others in any manner whatsoever, any confidential information of the Employer, to the knowledge
of the Executive, including, but not limited to, the names and addresses of customers or prospective customers, of the Employer,
as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures
relating to projects or other work developed for the Employer, earnings or other information concerning the Employer. The restrictions
contained in this subparagraph (v) apply to all information regarding the Employer, regardless of the source who provided or compiled
such information. Notwithstanding anything to the contrary, all information referred to herein shall not be disclosed unless and
until it becomes known to the general public from sources other than the Executive.

 

The
forfeiture provision detailed in this Section 7.10 shall not apply following a Change in Control.

 

7.11       Notice.
Any notice, consent or demand required or permitted to be given to the Employer or Administrator under this Agreement shall be
sufficient if in writing and hand-delivered or sent by registered or certified mail to the Employer’s principal business
office. Any notice or filing required or permitted to be given to the Executive or Beneficiary under this Agreement shall be sufficient
if in writing and hand-delivered or sent by mail to the last known address of the Executive or Beneficiary, as appropriate. Any
notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark
or on the receipt for registration or certification.

 

7.12       Headings
and Interpretation. Headings and sub-headings in this Agreement are inserted for reference and convenience only and shall
not be deemed part of this Agreement. Wherever the fulfillment of the intent and purpose of this Agreement requires and the context
will permit, the use of the masculine gender includes the feminine and use of the singular includes the plural.

 

7.13       Alternative
Action. In the event it becomes impossible for the Employer or the Administrator to perform any act required by this Agreement
due to regulatory or other constraints, the Employer or Administrator may perform such alternative act as most nearly carries
out the intent and purpose of this Agreement and is in the best interests of the Employer, provided that such alternative act
does not violate Code Section 409A.

 

    15

     

    

 

7.14       Coordination
with Other Benefits. The benefits provided for the Executive or the Beneficiary under this Agreement are in addition to any
other benefits available to the Executive under any other plan or program for employees of the Employer. This Agreement shall
supplement and shall not supersede, modify, or amend any other such plan or program except as may otherwise be expressly provided
herein.

 

7.15       Inurement.
This Agreement shall be binding upon and shall inure to the benefit of the Employer, its successor and assigns, and the Executive,
the Executive’s successors, heirs, executors, administrators, and the Beneficiary.

 

7.16       Tax
Withholding. The Employer may make such provisions and take such action as it deems necessary or appropriate for the withholding
of any taxes which the Employer is required by any law or regulation to withhold in connection with any benefits under the Agreement.
The Executive shall be responsible for the payment of all individual tax liabilities relating to any benefits paid hereunder.

 

7.17       Aggregation
of Agreement. If the Employer offers other non-qualified deferred compensation plans, this Agreement and those plans shall
be treated as a single plan to the extent required under Code Section 409A.

 

IN
WITNESS WHEREOF, the Executive and a representative of the Employer have executed this Agreement document as indicated below:

 

	Executive:	Employer:
	 	 	 
	/s/
    Diane E. Baker	By:	/s/
    Larry J. Miller
	 	Its:	Executive
    Chairman

 
 

    16

     

    

Supplemental
Executive Retirement Plan

Schedule A

Diane
E. Baker

	Birth
    Date: XX/XX/1970	Early
    Termination	Disability 	Change
    In Control 	Death
	

        Plan
        Anniversary Date:

        12/31/2019

        Normal
        Retirement:

        12/31/2033,
        Age 63 

        Normal Retirement

        Payment: Monthly for 15 Years
	 

        Amount
        Payable Monthly for 15 Years at Separation from Service
	

        Amount
        Payable Monthly for 15 Years Upon Disability
	

        Amount
        Payable Monthly for 15 Years at Normal Retirement Age
	

        Amount
        Payable Lump 

        Sum Upon Death

	Values
    As Of 	Age	Annual
    Benefit1	Annual
    Benefit1	Annual
    Benefit1,2	Lump
    Sum Benefit
	Jan
    2019	48	0	0	75,000	0
	Dec
    2019	49	3,725	3,725	75,000	42,106
	Dec
    2020	50	7,602	7,602	75,000	85,927
	Dec
    2021	51	11,636	11,636	75,000	131,533
	Dec
    2022	52	15,836	15,836	75,000	178,998
	Dec
    2023	53	20,206	20,206	75,000	228,396
	Dec
    2024	54	24,754	24,754	75,000	279,807
	Dec
    2025	55	29,487	29,487	75,000	333,312
	Dec
    2026	56	34,414	34,414	75,000	388,998
	Dec
    2027	57	39,541	39,541	75,000	446,952
	Dec
    2028	58	44,877	44,877	75,000	507,267
	Dec
    2029	59	50,430	50,430	75,000	570,040
	Dec
    2030	60	56,210	56,210	75,000	635,370
	Dec
    2031	61	62,225	62,225	75,000	703,361
	Dec
    2032	62	68,485	68,485	75,000	774,123
	Dec
    2033	63	75,000	75,000	75,000	847,767

The
first line represents the initial plan values as of the plan implementation date of January 01, 2019.

	1	The
                                         annual benefit amount will be distributed in 12 equal monthly payments for a total of
                                         180 monthly payments.

	2	Note
                                         that accounting rules may require an additional accrual at the time this benefit is triggered.

IF
THERE IS A CONFLICT BETWEEN THIS SCHEDULE A AND THE AGREEMENT, THE TERMS AND PROVISIONS OF THE AGREEMENT SHALL PREVAIL. IF A

SERP:
PeoplesBank, a Codorus Valley Company - York, PA

138794#,
17057#, 42143#, 12/28/2018

    17 

     

    

 

 Supplemental
Executive Retirement Plan

Schedule A

Diane
E. Baker

	Birth
    Date:XX/XX/1970	Early
    Termination	Disability	Change
    In Control	Death
	Plan
    Anniversary Date:

    12/31/2019 

    Normal Retirement: 

    12/31/2033, Age 63 

    Normal Retirement 

    Payment: Monthly for 15 Years	

        Amount
        Payable Monthly for 15 Years at Separation from Service
	

        Amount
        Payable Monthly for 15 Years Upon Disability
	

        Amount
        Payable Monthly for 15 Years at Normal Retirement Age
	

        Amount
        Payable Lump Sum Upon Death

	Values
    As Of	Age	Annual
    Benefit1	Annual
    Benefit1	Annual
    Benefit1,2	Lump
    Sum Benefit

TRIGGERING
EVENT OCCURS, REFER TO THE AGREEMENT TO DETERMINE THE ACTUAL BENEFIT AMOUNT BASED ON THE DATE OF THE EVENT.

	Diane Baker 	 	 	By	 
	 		 
	Date 	 	 	Title	 
	 	 	 
	 	Date	 

    18EX-10.1

 Exhibit 10.1 

TENDER AND SUPPORT AGREEMENT 

This TENDER AND SUPPORT AGREEMENT (this “Agreement”), dated as of February 3, 2019, is entered into by and among Tesla, Inc.,
a Delaware corporation (“Parent”), Cambria Acquisition Corp., a Delaware corporation and a wholly owned subsidiary of Parent (“Purchaser”), and each of the persons set forth on Schedule A hereto (each, a
“Stockholder”). All terms used but not otherwise defined in this Agreement shall have the respective meanings ascribed to such terms in the Merger Agreement (as defined below). 

WHEREAS, as of the date hereof, each Stockholder is the record and beneficial owner (as defined in Rule
13d-3 under the Exchange Act, except that for purposes of Schedule A, all options, warrants, restricted stock units and other similar securities are included even if not exercisable within 60 days of the date
hereof) of the number of (i) shares of common stock (the “Company Common Stock”), (ii) Company Options and (iii) Company RSUs, in each case set forth opposite such Stockholder’s name on Schedule A (all such
shares of Company Common Stock, Company Options and Company RSUs set forth on Schedule A next to such Stockholder’s name, together with any shares of Company Common Stock that are hereafter issued to or otherwise directly or indirectly
acquired or beneficially owned by such Stockholder prior to the termination of this Agreement, including for the avoidance of doubt any shares of Company Common Stock acquired or otherwise beneficially owned by such Stockholder upon the exercise of
Company Options or vesting and settlement of Company RSUs after the date hereof (collectively “After-Acquired Shares”), but excluding for the avoidance of doubt any shares of Company Common Stock upon a Permitted Transfer (as
defined below) of such shares, being referred to herein as such Stockholder’s “Subject Shares”); 
 WHEREAS,
concurrently with the execution hereof, Parent, Purchaser and Maxwell Technologies, Inc., a Delaware corporation (the “Company”), are entering into an Agreement and Plan of Merger, dated as of the date hereof (as it may be amended
from time to time, the “Merger Agreement”), which provides, among other things, for (i) Purchaser to commence the Offer and (ii) following the consummation of the Offer, the merger of Purchaser with and into the Company,
with the Company being the surviving entity of the merger (the “Merger”), in each case upon the terms and subject to the conditions set forth in the Merger Agreement; and 

WHEREAS, as a condition to their willingness to enter into the Merger Agreement, and as an inducement and in consideration for Parent and
Purchaser to enter into the Merger Agreement, each Stockholder, severally and not jointly, and on such Stockholder’s own account with respect to such Stockholder’s Subject Shares, has agreed to enter into this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth below and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, do hereby agree as follows: 

 ARTICLE I 

AGREEMENT TO TENDER AND VOTE 

1.1.    Agreement to Tender. Subject to the terms of this Agreement, unless and until this Agreement shall
have been validly terminated in accordance with Section 5.2, each Stockholder agrees to validly and irrevocably tender or cause to be validly and irrevocably tendered in the Offer all of such Stockholder’s Subject
Shares (other than (x) Company Options that are not exercised during the term of this Agreement and (y) Company RSUs that do not vest or pursuant to which the underlying shares otherwise are not issued to the Stockholder during the term of
this Agreement) pursuant to and in accordance with the terms of the Offer, free and clear of all Encumbrances (as defined below) except for Permitted Encumbrances (as defined below). Without limiting the generality of the foregoing, as promptly as
practicable, but in no event later than five (5) business days after the commencement (within the meaning of Rule 14d-2 under the Exchange Act) of the Offer, each Stockholder shall validly and irrevocably
tender or cause to be validly and irrevocably tendered in the Offer all of such Stockholder’s Subject Shares free and clear of all Encumbrances except for Permitted Encumbrances, including by delivering pursuant to the terms of the Offer
(a) a letter of transmittal with respect to all of such Stockholder’s Subject Shares complying with the terms of the Offer, (b) a certificate representing all such Subject Shares that are certificated or, in the case of a book-entry
share of any uncertificated Subject Shares, written instructions to such Stockholder’s broker, dealer or other nominee that such Subject Shares be tendered, including a reference to this Agreement, and requesting delivery of an
“agent’s message” (or such other evidence, if any, of transfer as the Exchange Agent may reasonably request) and (c) all other documents or instruments reasonably required to be delivered by other Company stockholders pursuant to
the terms of the Offer (it being understood that this sentence shall not apply to (x) Company Options that are not exercised during the term of this Agreement and (y) Company RSUs that do not vest or pursuant to which the underlying shares
otherwise are not issued to the Stockholder during the term of this Agreement). Each Stockholder agrees that, once any of such Stockholder’s Subject Shares are tendered, such Stockholder will not withdraw such Subject Shares from the Offer,
unless and until this Agreement shall have been validly terminated in accordance with Section 5.2. In the event this Agreement has been validly terminated in accordance with Section 5.2,
Purchaser shall, and Parent shall cause Purchaser to, promptly return to the Stockholder all Subject Shares such Stockholder tendered in the Offer. At all times commencing with the date hereof and continuing until the valid termination of this
Agreement in accordance with its terms, each Stockholder shall not tender any of such Stockholder’s Subject Shares into any tender or exchange offer commenced by a Person other than Parent, Purchaser or any other Subsidiary of Parent. 

1.2.    Agreement to Vote. Subject to the terms of this Agreement, each Stockholder hereby irrevocably and
unconditionally agrees that, for so long as this Agreement has not been validly terminated in accordance with its terms, at any annual or special meeting of the stockholders of the Company, however called, including any adjournment or postponement
thereof, and in connection with any action proposed to be taken by written consent of the stockholders of the Company, such Stockholder shall, in each case, to the fullest extent that such Stockholder’s Subject Shares are entitled to vote
thereon: (a) appear at each such meeting or otherwise cause all such Subject Shares to be counted as present thereat for purposes of determining a quorum and (b) be present (in person or by proxy) and vote (or cause to be voted),

  
 -2- 

 
or deliver (or cause to be delivered) a written consent with respect to, all of its Subject Shares (i) against any action or agreement that would reasonably be expected to (A) result in
a breach of any covenant, representation or warranty or any other obligation or agreement of the Company contained in the Merger Agreement, or of any Stockholder contained in this Agreement, or (B) result in any of the conditions set forth in
Article VIII or Annex C of the Merger Agreement not being satisfied on or before the Outside Date; (ii) against any change in the members of the Company Board of Directors that is not recommended by the Company Board of Directors; and
(iii) against any Acquisition Proposal. Subject to the proxy granted under Section 1.3 below, each Stockholder shall retain at all times the right to vote such Stockholder’s Subject Shares in such
Stockholder’s sole discretion, and without any other limitation, on any matters other than those expressly set forth in this Section 1.2 that are at any time or from time to time presented for consideration to the
Company’s stockholders generally. For the avoidance of doubt, the foregoing commitments in Sections 1.1 and 1.2 apply to any Subject Shares held by any trust, limited partnership or other entity directly or indirectly holding
Subject Shares over which the applicable Stockholder exercises direct or indirect voting control. 

1.3.    Irrevocable Proxy. Solely with respect to the matters described in
Section 1.2, for so long as this Agreement has not been validly terminated in accordance with its terms, each Stockholder hereby irrevocably appoints Parent as its attorney and proxy with full power of substitution and
resubstitution, to the full extent of such Stockholders’ voting rights with respect to all such Stockholders’ Subject Shares (which proxy is irrevocable and which appointment is coupled with an interest, including for purposes of
Section 212 of the DGCL) to vote, and to execute written consents with respect to, all such Stockholders’ Subject Shares solely on the matters described in Section 1.2, and in accordance therewith. Each
Stockholder agrees to execute any further agreement or form reasonably necessary or appropriate to confirm and effectuate the grant of the proxy contained herein. Such proxy shall automatically terminate upon the valid termination of this Agreement
in accordance with its terms. Parent may terminate this proxy with respect to a Stockholder at any time in its sole discretion by written notice provided to such Stockholder. Parent may not exercise this irrevocable proxy on any matter except as
provided in Section 1.2 and, in any case, only in the event that Stockholder fails to vote the Subject Shares in accordance with Section 1.2. Stockholder may vote the Subject Shares on all other
matters. 
 1.4.    No Obligation to Exercise. Notwithstanding anything to the contrary in this Agreement,
nothing in this Agreement shall obligate any Stockholder to exercise any Company Option or any other right to acquire any shares of Company Common Stock or require Stockholder to purchase any shares of Company Common Stock, and nothing herein shall
prohibit Stockholder from exercising any Company Option held by such Stockholder as of the date of this Agreement. 
 ARTICLE II 

REPRESENTATIONS AND WARRANTIES OF EACH STOCKHOLDER 

Each Stockholder represents and warrants to Parent and Purchaser, as to such Stockholder with respect to his, her or its own account and with
respect to its Subject Shares, on a several basis, that: 

  
 -3- 

 2.1.    Authorization; Binding Agreement. If such
Stockholder is not an individual, such Stockholder is duly organized and validly existing in good standing (where such concept is recognized) under the Laws of the jurisdiction in which it is incorporated or constituted and the consummation of the
transactions contemplated hereby are within such Stockholder’s entity powers and have been duly authorized by all necessary entity actions on the part of such Stockholder, and such Stockholder has all requisite entity power and authority to
execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby. If such Stockholder is an individual, such Stockholder has all requisite legal capacity, right and authority to execute and deliver this Agreement
and to perform such Stockholder’s obligations hereunder. This Agreement has been duly and validly executed and delivered by such Stockholder and, assuming the due authorization, execution and delivery by Parent and Purchaser, constitutes a
legal, valid and binding obligation of such Stockholder, enforceable against such Stockholder in accordance with its terms, subject to the Enforceability Limitations. If such Stockholder is married, and any of such Stockholder’s Subject Shares
constitute community property or otherwise need spousal or other approval for this Agreement to be legal, valid and binding, this Agreement has been duly and validly executed and delivered by such Stockholder’s spouse and, assuming the due
authorization, execution and delivery by Parent and Purchaser, constitutes a legal, valid and binding obligation of such Stockholder’s spouse, enforceable against such Stockholder’s spouse in accordance with its terms, subject to the
Enforceability Limitations. 
 2.2.    Non-Contravention. Neither
the execution and delivery of this Agreement by such Stockholder (or if applicable, such Stockholder’s spouse) nor the consummation of the transactions contemplated hereby nor compliance by such Stockholder (or if applicable, such
Stockholder’s spouse) with any provisions herein will (a) if such Stockholder is not an individual, violate, contravene or conflict with or result in any breach of any provision of the certificate of incorporation or bylaws (or other
similar governing documents) of such Stockholder, (b) require any consent, approval, authorization or permit of, or filing with or notification to, any Governmental Entity on the part of such Stockholder (or if applicable, such
Stockholder’s spouse), except for compliance with the applicable requirements of the Securities Act, the Exchange Act or any other United States or federal securities laws and the rules and regulations promulgated thereunder, (c) violate,
conflict with, or result in a breach of any provisions of, or require any consent, waiver or approval or result in a default or loss of a benefit (or give rise to any right of termination, cancellation, modification or acceleration or any event
that, with the giving of notice, the passage of time or otherwise, would constitute a default or give rise to any such right) under any of the terms, conditions or provisions of any Contract to which such Stockholder (or if applicable, such
Stockholder’s spouse) is a party or by which such Stockholder (or if applicable, such Stockholder’s spouse) or any of such Stockholder’s Subject Shares may be bound, (d) result (or, with the giving of notice, the passage of time
or otherwise, would result) in the creation or imposition of any Lien (other than Permitted Liens) on any asset of such Stockholder (or if applicable, such Stockholder’s spouse) (other than one created by Parent or Purchaser) or
(e) violate any Law applicable to such Stockholder (or if applicable, such Stockholder’s spouse) or by which any of such Stockholder’s Subject Shares are bound, except, in the case of each of clauses (c), (d) and (e), as would not
reasonably be expected to prevent or materially delay or impair the consummation by such Stockholder of the transactions contemplated by this Agreement or otherwise materially impair such Stockholder’s ability to perform its obligations
hereunder. 

  
 -4- 

 2.3.    Ownership of Subject Shares; Total Shares. Such
Stockholder is the record and beneficial owner (as defined in Rule 13d-3 under the Exchange Act, except that for purposes of Schedule A, all options, warrants, restricted stock units and other similar
securities are included even if not exercisable within 60 days of the date hereof) of all of such Stockholder’s Subject Shares and has good and marketable title to all of such Stockholder’s Subject Shares free and clear of any Liens,
claims, proxies, voting trusts or agreements, options, rights, understandings or arrangements or any other encumbrances or restrictions whatsoever on title, transfer or exercise of any rights of a stockholder in respect of such Subject Shares
(collectively, “Encumbrances”), except for any such Encumbrance that may be imposed pursuant to (i) this Agreement, (ii) any applicable restrictions on transfer under the Securities Act or any state securities law,
(iii) the Company Governing Documents, and (iv) any applicable Company Equity Plan or agreements evidencing grants thereunder ((i) through (iv), collectively, “Permitted Encumbrances”). The Subject Shares listed on
Schedule A opposite such Stockholder’s name constitute all of the shares of Company Common Stock, Company Options, Company RSUs and any other securities of the Company beneficially owned by such Stockholder as of the date hereof. 

2.4.    Voting Power. Except for the rights granted by such Stockholder to Parent as set forth in this
Agreement, such Stockholder has full voting power with respect to all such Stockholder’s Subject Shares (to the extent such Subject Shares have voting rights), and full power of disposition with respect to such Subject Shares to the extent they
consist of vested shares of Company Common Stock, full power to issue instructions with respect to the matters set forth herein and full power to agree to all of the matters set forth in this Agreement, in each case with respect to all such
Stockholder’s Subject Shares. None of such Stockholder’s Subject Shares are subject to any stockholders’ agreement, proxy, voting trust or other agreement, arrangement or Encumbrance with respect to the voting of such Subject Shares,
except as expressly provided herein (including the Permitted Encumbrances). 
 2.5.    Reliance. Such
Stockholder understands and acknowledges that Parent and Purchaser are entering into the Merger Agreement in reliance upon such Stockholder’s execution, delivery and performance of this Agreement. 

2.6.    Absence of Litigation. With respect to such Stockholder, as of the date hereof, there is no
Proceeding pending against, or, to the knowledge of such Stockholder, threatened in writing against such Stockholder or any of such Stockholder’s properties or assets (including any of such Stockholder’s Subject Shares) before or by any
Governmental Entity that would reasonably be expected to prevent or materially delay or impair the consummation by such Stockholder of the transactions contemplated by this Agreement or otherwise materially impair such Stockholder’s ability to
perform its obligations hereunder. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF PARENT AND PURCHASER 

Parent and Purchaser represent and warrant to each Stockholder that: 

3.1.    Organization and Qualification. Each of Parent and Purchaser is a duly organized and validly
existing corporation in good standing under the Laws of the jurisdiction of 

  
 -5- 

 
its organization. All of the issued and outstanding capital stock of Purchaser is owned directly or indirectly by Parent. 

3.2.    Authority for this Agreement. Each of Parent and Purchaser has all requisite entity power and
authority to execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement by Parent and Purchaser have been duly and validly authorized by all
necessary entity action on the part of each of Parent and Purchaser, and no other entity proceedings on the part of Parent and Purchaser are necessary to authorize this Agreement. This Agreement has been duly and validly executed and delivered by
Parent and Purchaser and, assuming the due authorization, execution and delivery by the Stockholders, constitutes a legal, valid and binding obligation of each of Parent and Purchaser, enforceable against each of Parent and Purchaser in accordance
with its terms, subject to the Enforceability Limitations. 
 ARTICLE IV 

ADDITIONAL COVENANTS OF THE STOCKHOLDERS 

Each Stockholder, from and after the date hereof, hereby covenants and agrees that until the termination of this Agreement: 

4.1.    No Transfer; No Inconsistent Arrangements. 

(a)    Such Stockholder shall not, directly or indirectly, take any action that would have the effect of preventing,
materially delaying or materially impairing such Stockholder from performing any of its obligations under this Agreement or that would, or would reasonably be expected to, have the effect of preventing, materially delaying or materially impairing,
the consummation of the Offer, the Merger or the other transactions contemplated by the Merger Agreement or the performance by the Company of its obligations under the Merger Agreement. 

(b)    Except as provided hereunder (which, for clarity, includes the tendering of such Stockholder’s Subject Shares
into the Offer in accordance with the terms of this Agreement and the Merger Agreement), such Stockholder shall not, directly or indirectly, (i) create or permit to exist any Encumbrance, other than Permitted Encumbrances, on any of such
Stockholder’s Subject Shares, (ii) transfer, sell, assign, gift, hedge, distribute, pledge or otherwise dispose of (including, for the avoidance of doubt, by depositing, submitting or otherwise tendering any such Subject Shares into any
tender or exchange offer other than the Offer and, including, for the avoidance of doubt, or enter into any derivative arrangement with respect to (collectively, “Transfer”), any of such Stockholder’s Subject Shares, or any
right or interest therein (or consent to any of the foregoing), (iii) enter into any Contract with respect to any Transfer of such Stockholder’s Subject Shares or any legal or beneficial interest therein, (iv) grant or permit the
grant of any proxy, power-of-attorney or other authorization or consent in or with respect to any such Stockholder’s Subject Shares or (v) deposit or permit
the deposit of any of such Stockholder’s Subject Shares into a voting trust or enter into a voting agreement or arrangement with respect to any of such Stockholder’s Subject Shares. Any action taken in violation of the immediately
preceding sentence shall be null and void ab initio. Notwithstanding the foregoing, any Stockholder may Transfer such Stockholder’s Subject Shares in connection with any 

  
 -6- 

 
Transfer not involving or relating to any Acquisition Proposal, to (i) if an entity, any wholly-owned Subsidiary or affiliate of such Stockholder or (ii) if a natural person,
(A) immediate family members or a trust established for the benefit of such Stockholder and/or for the benefit of one or more members of such Stockholder’s immediate family, (B) charitable organizations or (C) upon the death of
such Stockholder, (any such Transfer and any Transfer as Parent may agree pursuant to Section 4.1(d) below, a “Permitted Transfer”), provided, that a Transfer described in this sentence shall be a
Permitted Transfer only if (x) all of the representations and warranties in this Agreement with respect to such Stockholder would be true and correct upon such Transfer and (y) the transferee of such Subject Shares, prior to the date of
such Transfer, agrees in a signed writing satisfactory to Parent (acting reasonably) to accept such Subject Shares subject to the terms of this Agreement and to be bound by the terms of this Agreement as a “Stockholder” for all purposes of
this Agreement. If any involuntary Transfer of any of such Stockholder’s Subject Shares in the Company shall occur (including, but not limited to, a sale by such Stockholder’s trustee in any bankruptcy, or a sale to a purchaser at any
creditor’s or court sale), the transferee (which term, as used herein, shall include any and all transferees and subsequent transferees of the initial transferee) shall, subject to applicable Law, take and hold such Subject Shares subject to
all of the restrictions, obligations, liabilities and rights under this Agreement, which shall continue in full force and effect until valid termination of this Agreement in accordance with its terms. 

(c)    Such Stockholder agrees that it shall not, and shall cause each of its controlled affiliates not to, become a
member of a “group” (as defined under Section 13(d) of the Exchange Act) for the purpose of opposing or competing with or taking any actions inconsistent with the transactions contemplated by this Agreement or the Merger Agreement.

 (d)    Notwithstanding Section 4.1(b), such Stockholder may make Transfers of such
Stockholder’s Subject Shares as Parent may agree in writing in its sole discretion. 
 4.2.    No Exercise of
Appraisal Rights. Such Stockholder forever and irrevocably waives and agrees not to exercise any appraisal rights or dissenters’ rights pursuant to Section 262 of the DGCL or otherwise in respect of such Stockholder’s Subject
Shares that may arise in connection with the Offer or the Merger. 
 4.3.    Documentation and
Information. Such Stockholder shall not make any public announcement regarding this Agreement or the transactions contemplated hereby without the prior written consent of Parent and the Company (such consent not to be unreasonably withheld,
conditioned or delayed), except as may be required by applicable Law (provided that reasonable notice of any such disclosure will be provided to Parent, and such Stockholder will consider in good faith the reasonable comments of Parent with respect
to such disclosure and otherwise cooperate with Parent in obtaining confidential treatment with respect to such disclosure). Such Stockholder consents to and hereby authorizes Parent and Purchaser to publish and disclose in all documents and
schedules filed with the SEC or any other Governmental Entity or applicable securities exchange, and any press release or other disclosure document that Parent or Purchaser reasonably determines to be necessary or advisable in connection with the
Offer, the Merger or any other transactions contemplated by the Merger Agreement or this Agreement, such Stockholder’s identity and ownership of such Stockholder’s Subject Shares, the existence of this Agreement and the nature of such
Stockholder’s commitments and obligations 

  
 -7- 

 
under this Agreement, and such Stockholder acknowledges that Parent and Purchaser may, in Parent’s sole discretion, file this Agreement or a form hereof with the SEC or any other
Governmental Entity or securities exchange. Such Stockholder agrees to promptly give Parent any information it may reasonably require for the preparation of any such disclosure documents, and such Stockholder agrees to promptly notify Parent of any
required corrections with respect to any information supplied by such Stockholder specifically for use in any such disclosure document, if and to the extent that any such information shall have become false or misleading in any material respect.

 4.4.    Adjustments. In the event of any stock split, stock dividend, merger, reorganization,
recapitalization, reclassification, combination, exchange of shares or the like of the capital stock of the Company affecting a Stockholder’s Subject Shares, the terms of this Agreement shall apply to the resulting securities. 

4.5.    Waiver of Certain Actions. Each Stockholder hereby agrees not to commence or participate in, and to
take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Parent, Purchaser, the Company, any of their respective affiliates or successors or any of their respective
directors, managers or officers (a) challenging the validity of, or seeking to enjoin or delay the operation of, any provision of this Agreement or the Merger Agreement (including any claim seeking to enjoin or delay the consummation of the
Offer or the closing of the Merger) or (b) alleging a breach of any duty of the Company Board of Directors in connection with the Merger Agreement, this Agreement or the transactions contemplated thereby or hereby. 

4.6.    No Solicitation. Unless and until this Agreement shall have been validly terminated in accordance
with Section 5.2 , each Stockholder shall not, and shall cause its controlled affiliates not to, and shall not authorize or permit its Representatives to, directly or indirectly, (i) solicit, initiate or knowingly
encourage or facilitate any inquiry, proposal or offer, or the making, submission or announcement of any inquiry, proposal or offer which constitute or would be reasonably expected to lead to an Acquisition Proposal, (ii) participate in any
negotiations regarding, or furnish to any person any nonpublic information regarding the Company or its Subsidiaries in connection with an actual or potential Acquisition Proposal, (iii) encourage or recommend any other holder of Company Common
Stock to not tender shares of Company Common Stock into the Offer, (v) adopt, approve, endorse or recommend any Acquisition Proposal or enter into any letter of intent, support agreement or similar document, agreement, commitment or agreement
in principle relating to or facilitating an Acquisition Proposal or (vi) agree to do any of the foregoing. Each Stockholder shall, and shall cause its controlled affiliates to, and shall direct its Representatives to, immediately cease any and
all existing solicitation, discussions or negotiations with any Person or groups (other than Parent, its Subsidiaries, and their respective Representatives acting on their behalf) with respect to any inquiry, proposal or offer that constitutes, or
would reasonably be expected to lead to, an Acquisition Proposal. For purposes of this Section 4.6, Acquisition Proposal shall have the meaning ascribed to such term in the Merger Agreement. 

  
 -8- 

 ARTICLE V 

MISCELLANEOUS 

5.1.    Notices. All notices and other communications hereunder shall be in writing and shall be deemed to
have been duly given and received if delivered personally (notice deemed given upon receipt), by facsimile transmission or electronic mail (notice deemed given upon confirmation of receipt) or sent by a nationally recognized overnight courier
service, such as Federal Express (notice deemed given upon receipt of proof of delivery); provided that the notice or other communication is sent to the address, facsimile number or email address set forth (i) if to Parent or Purchaser,
to the address, facsimile number or email address set forth in Section 10.4 of the Merger Agreement and (ii) if to a Stockholder, to such Stockholder’s address, facsimile number or email address set forth on a signature page hereto,
or to such other address, facsimile number or email address as such party may hereafter specify for the purpose by notice to each other party hereto. 

5.2.    Termination. This Agreement shall terminate automatically with respect to a Stockholder, without any
notice or other action by any Person, upon the first to occur of (a) the valid termination of the Merger Agreement in accordance with its terms, (b) the Effective Time, or (c) the mutual written consent of Parent and such Stockholder.
Upon termination of this Agreement, no party shall have any further obligations or liabilities under this Agreement; provided, however, that (i) nothing set forth in this Section 5.2 shall relieve any
party from liability for fraud or any willful breach (as defined in the Merger Agreement) of this Agreement prior to termination hereof and (ii) the provisions of this Article V shall survive any termination of this Agreement. 

5.3.    Amendments and Waivers. Any provision of this Agreement may be amended or waived if such amendment
or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement or, in the case of a waiver, by each party against whom the waiver is to be effective. No failure or delay by any party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 

5.4.    Expenses. All fees and expenses incurred in connection herewith and the transactions contemplated
hereby shall be paid by the party incurring such fees and expenses, whether or not the Offer or the Merger are consummated. 

5.5.    Entire Agreement; Assignment. This Agreement, together with Schedule A, and the other
documents and certificates delivered pursuant hereto, constitute the entire agreement, and supersede all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter of this Agreement. This
Agreement shall not be assigned by any party (including by operation of law, by merger or otherwise) without the prior written consent of (a) Parent and Purchaser, in the case of an assignment by a Stockholder and (b) the Stockholders, in
the case of an assignment by Parent or Purchaser; provided, that Parent or Purchaser may assign any of their respective rights and obligations to any direct or indirect Subsidiary of Parent, but no such assignment shall relieve Parent or
Purchaser, as the case may be, of its obligations hereunder. 

  
 -9- 

 5.6.    Enforcement of the Agreement. The parties agree
that irreparable damage would occur in the event that any Stockholder did not perform any of the provisions of this Agreement in accordance with their specific terms or otherwise breached any such provisions. It is accordingly agreed that Parent and
Purchaser shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in addition to any other remedy to which they are entitled at law or in equity.
Any and all remedies herein expressly conferred upon Parent and Purchaser will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by Law or equity upon Parent or Purchaser, and the exercise by Parent or Purchaser of
any one remedy will not preclude the exercise of any other remedy. 
 5.7.    Jurisdiction; Waiver of Jury
Trial. 
 (a)    Each Stockholder hereby irrevocably and unconditionally submits, for itself and its property,
to the exclusive jurisdiction of the Court of Chancery of the State of Delaware, or, if (and only if) such court finds it lacks jurisdiction, the Federal court of the United States of America sitting in Delaware, and any appellate court from any
thereof, in any action or proceeding arising out of or relating to this Agreement or the agreements delivered in connection herewith or the transactions contemplated hereby or thereby or for recognition or enforcement of any judgment relating
thereto, and each Stockholder hereby irrevocably and unconditionally (i) agrees not to commence any such action or proceeding except in the Court of Chancery of the State of Delaware, or, if (and only if) such court finds it lacks jurisdiction,
the Federal court of the United States of America sitting in Delaware, and any appellate court from any thereof, (ii) agrees that any claim in respect of any such action or proceeding may be heard and determined in the Court of Chancery of the
State of Delaware, or, if (and only if) such court finds it lacks jurisdiction, the Federal court of the United States of America sitting in Delaware, and any appellate court from any thereof, (iii) waives, to the fullest extent it may legally
and effectively do so, any objection that it may now or hereafter have to the laying of venue of any such action or proceeding in such courts and (iv) waives, to the fullest extent permitted by Law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in such courts. Each Stockholder agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner
provided by applicable Law. Each Stockholder irrevocably consents to service of process inside or outside the territorial jurisdiction of the courts referred to in this Section 5.7(a) in the manner provided for notices in
Section 5.1. Nothing in this Agreement will affect the right of Parent or Purchaser to serve process in any other manner permitted by applicable Law. 

(b)    EACH STOCKHOLDER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH STOCKHOLDER CERTIFIES AND ACKNOWLEDGES THAT
(A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF PARENT OR PURCHASER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE SUCH WAIVERS, (B) IT UNDERSTANDS AND HAS CONSIDERED THE
IMPLICATIONS OF SUCH WAIVERS, 

  
 -10- 

 
(C) IT MAKES SUCH WAIVERS VOLUNTARILY AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
5.7(b). 
 5.8.    Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Delaware, without giving effect to conflicts of laws principles that would result in the application of the Law of any other state. 

5.9.    Descriptive Headings. The descriptive headings herein are inserted for convenience of reference only
and are not intended to be part of or to affect the meaning or interpretation of this Agreement. 

5.10.    Parties in Interest. This Agreement shall be binding upon and inure solely to the benefit of each
party hereto, and nothing in this Agreement, express or implied, is intended to confer upon any other Person any rights or remedies of any nature whatsoever under or by reason of this Agreement. 

5.11.    Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of
being enforced by any rule of Law, or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other provision is invalid, illegal or incapable of
being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner. 

5.12.    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be
an original, but all of which, taken together, shall constitute one and the same agreement. This Agreement or any counterpart may be executed and delivered by facsimile copies or delivered by electronic communications by portable document format
(.pdf), each of which shall be deemed an original. 
 5.13.    Interpretation. The words
“hereof,” “herein,” “hereby,” “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement,
and article, section, paragraph and schedule references are to the articles, sections, paragraphs and schedules of this Agreement unless otherwise specified. Whenever the words “include,” “includes” or “including” are
used in this Agreement they shall be deemed to be followed by the words “without limitation.” The words describing the singular number shall include the plural and vice versa, words denoting either gender shall include both genders and
words denoting natural persons shall include all Persons and vice versa. The phrases “the date of this Agreement,” “the date hereof,” “of even date herewith” and terms of similar import, shall be deemed to refer to the
date set forth in the preamble to this Agreement. The words “it” or “its” shall refer to a natural person or any entity stockholder, as applicable. Any reference in this Agreement to a date or time shall be deemed to be such date
or time in New York City, unless otherwise specified. The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be
construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any Person by virtue of the authorship of any provision of this Agreement. 

  
 -11- 

 5.14.    Further Assurances. Each Stockholder will execute
and deliver, or cause to be executed and delivered, all further documents and instruments reasonably requested by Parent acting in good faith and use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be
done, all things reasonably necessary, proper or advisable under applicable Law, as reasonably requested by Parent acting in good faith, to perform its obligations under this Agreement. 

5.15.    Capacity as Stockholder. Each Stockholder signs this Agreement in such Stockholder’s capacity
as a stockholder of the Company, and not, if applicable, in such Stockholder’s capacity as a director, officer or employee of the Company. Notwithstanding anything herein to the contrary, nothing in this Agreement shall in any way restrict a
director or officer of the Company in the taking of any actions (or failure to act) in his or her capacity as a director or officer of the Company, or in the exercise of his or her fiduciary duties in his or her capacity as a director or officer of
the Company, or prevent or be construed to create any obligation on the part of any director or officer of the Company from taking any action in his or her capacity as such director or officer. 

5.16.    Stockholder Obligation Several and Not Joint. The obligations of each Stockholder hereunder shall
be several and not joint, and no Stockholder shall be liable for any breach of the terms of this Agreement by any other Stockholder. 

5.17.    No Agreement Until Executed. This Agreement shall not be effective unless and until (i) the
Merger Agreement is executed and delivered by all parties thereto and (ii) this Agreement is executed by all parties hereto. 

[Signature Pages Follow.] 

  
 -12- 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	TESLA, INC.
		
	By:	 	 /s/ Deepak Ahuja

		 	Name: Deepak Ahuja
		 	Title: Chief Financial Officer

  

			
	CAMBRIA ACQUISITION CORP.
		
	By:	 	 /s/ Brian Scelfo

		 	Name: Brian Scelfo
		 	Title: President

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	I2BF ENERGY LIMITED
	
	By: /s/Ilya
Golubovich                                        
    
	Name: Ilya
Golubovich                                        
    
	Title: Director                                 
                          

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	By: /s/Richard
Bergman                                        
    
	Name: Richard Bergman

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	By: /s/Steven
Bilodeau                                        
    
	Name: Steven Bilodeau

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	By: /s/Jörg
Buchheim                                        
    
	Name: Jörg Buchheim

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	By: /s/Franz
Fink                                         
   
	Name: Franz Fink

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	By: /s/Burkhard
Göschel                                       
     
	Name: Burkhard Göschel

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	By: /s/Ilya
Golubovich                                        
    
	Name: Ilya Golubovich

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	By: /s/John
Mutch                                        
    
	Name: John Mutch

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	By: /s/David
Lyle                                         
   
	Name: David Lyle

  
 [Signature Page to
Tender and Support Agreement] 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	STOCKHOLDER
	
	By: /s/Emily
Lough                                        
    
	Name: Emily Lough

  
 [Signature Page to
Tender and Support Agreement] 

 Schedule A 
  

							
	 Name of

  Stockholder  
	 	 Number of Shares

 of Common Stock 
	 	 Number of Shares of

Common Stock Subject to

        Company
Options        
	 	 Number of Shares of

Common Stock Subject to

         Company
RSUs         

				
	 I2BF Energy Limited
	 	1,390,204	 	10,000	 	64,708
				
	 Richard Bergman
	 	27,995	 	10,000	 	50,206
				
	 Steven Bilodeau
	 	16,569	 	10,000	 	19,785
				
	 Jörg Buchheim
	 	534,870	 	98,167	 	921,001
				
	 Franz Fink
	 	1,047,713	 	10,000	 	19,785
				
	 Burkhard Göschel
	 	204,150	 	10,000	 	59,972
				
	 Ilya Golubovich
	 	61,500	 	10,000	 	19,785
				
	 John Mutch
	 	15,370	 	33,546	 	376,479
				
	 David Lyle
	 	166,500	 	4,750	 	121,644
				
	 Emily Lough
	 	11,674	 	14,136	 	184,578

  
 [Schedule A to Tender
and Support Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}]]