Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT
AGREEMENT (the “Agreement”), dated as of November 1, 2014 (the “Effective Date”), is
made by and between Neurotrope BioScience, Inc., a Delaware corporation (the “Company”), and Dr. Warren Wasiewski
(“Executive”). In consideration of the mutual covenants and agreements set forth herein, the parties agree as
follows:

 

1.           Employment
and Duties. Subject to the terms and conditions of this Agreement, the Company agrees to employ Executive to serve as Executive
Vice President, Development and Chief Medical Officer. Executive accepts such employment and agrees to undertake and discharge
the duties and responsibilities customary to such position as may be prescribed from time to time by the President of the Company
(the “President”) or the Board of Directors (the “Board”) of the Company’s parent corporation,
Neurotrope, Inc., a Nevada corporation (“Neurotrope”). Throughout the Employment Term (as defined below), Executive
shall report to the President. Executive shall devote substantially all of his business time, attention and effort to the performance
of his duties hereunder, and will not engage in any other business, profession or occupation for compensation or otherwise that
would conflict or interfere with the performance of such duties either directly or indirectly without the prior written consent
of the Board, which consent shall not be unreasonably withheld.

 

             Executive will
operate primarily from the Company’s offices in Newark, New Jersey. Executive will be required to travel from time to time
as required by the Company, but it is generally expected that Executive will be in the Newark, New Jersey office Monday through
Thursday each week.

 

2.           Term.
The term of Executive’s employment pursuant to this Agreement commences on the Effective Date and, unless terminated as set
forth in Section 10, shall continue for a period of one (1) year ending on the first anniversary of the Effective Date (the
“Initial Term”). Following the Initial Term, this Agreement shall be extended automatically for successive one
(1) year periods (each, an “Extension Term”), unless either party gives written notice to the other party at
least ninety (90) days prior to the end of the Initial Term or the then-current Extension Term, as applicable, of its intention
not to extend the term of the Agreement (termination pursuant to the delivery of such notice by either party, “Non-Renewal”,
and the Initial Term and any Extension Term(s), collectively, the “Employment Term”). Notwithstanding the foregoing,
Executive shall at all times be considered an “at will” employee (subject to the obligations set forth in this Agreement).

 

3.           Salary.
During each year of the Employment Term, the Company shall pay Executive an annual base salary, before deducting all applicable
withholdings required by law, of Three Hundred Twenty-Five Thousand Dollars ($325,000) per year, all salaries payable at the time
and in the manner dictated by the Company’s standard payroll policies. During the Employment Term, Executive’s annual
base salary may be reviewed at least annually by the Company and may from time to time be adjusted as determined by the President
(such annual base salary, including any adjustments pursuant to this Section 3, shall be referred to herein as the “Base
Salary”).

 

4.           Other
Compensation and Fringe Benefits. In addition to any executive bonus, retirement, deferred compensation and long-term incentive
plans which the Company may from time to time make available to Executive, Executive shall be entitled to the following during
the Employment Term:

 

a.           all
Company benefits generally available to the Company’s officers in accordance with the terms of those benefit plans;

 

b.           all
retirement, life, disability, medical and dental plan benefits generally available to the Company’s officers in accordance
with the terms of those plans;

 

    	 

    	 

    

 

c.           immediately
upon commencement of the Employment Term, Executive shall, subject to applicable law, become a named insured under the Company’s
Directors and Officers (“D&O”) insurance and be entitled to the same coverage under such D&O insurance
policy as the Company’s President and Chief Executive Officer; and

 

d.           an
annual incentive bonus of up to fifty percent (50%) of the Base Salary (the “Annual Bonus”) commencing with
2015 to be earned and payable based upon attainment of both corporate and individual annual performance goals as determined by
the President after consultation with, and agreement of, Executive. Executive’s performance goals for a year shall be determined
and communicated to Executive no later than December 31st of the immediately preceding year (i.e., December 31, 2014 for the 2015
bonus opportunity). The Annual Bonus opportunity may be periodically reviewed and may from time to time be adjusted as determined
by the President. The Annual Bonus shall be paid not later than March 15 of the calendar year immediately following the year to
which the Annual Bonus relates. Notwithstanding the foregoing, Executive’s performance for the remainder of 2014 shall be
considered and any bonus amount for 2014 shall be prorated for the period of time commencing on the Effective Date through December
31, 2014 and paid with any bonus due and payable for performance during 2015.

 

5.           Signing
Bonus. The Company shall pay to Executive an amount equal to One Hundred Two Thousand Eighty-three Dollars and forty cents
($102,083.40) (the “Signing Bonus”). The Signing Bonus shall be paid in twelve (12) equal monthly installments
of Eight Thousand Five Hundred Six Dollars and ninety-five cents ($8,506.95), less all applicable taxes and payroll deductions,
payable on the Company’s regular payroll dates. The first such installment shall be paid on the Company’s first payroll
date that follows the Effective Date and the remaining installments paid on the first regular payroll date each month thereafter;
provided that Executive remains an active employee of the Company in good standing on each payment date.

 

6.           Relocation
and Lodging Expense Reimbursement.

 

a.           Lodging Reimbursement.
The Company will reimburse Executive for reasonable, documented expenses associated with lodging expenses incurred during the Employment
Term as a result of traveling to and from the Company’s Newark, New Jersey office from Executive’s primary residence
in Lancaster, Pennsylvania. Such lodging expenses will be reimbursed promptly upon presentation of appropriate supporting documentation.
The total maximum amount of reimbursement under this Section 6(a) for lodging expenses will be Fifteen Thousand Dollars
($15,000) per annum. Notwithstanding the foregoing, the lodging reimbursement contained in this Section 6(a) will no longer
be in effect and shall expire nine (9) months from the Effective Date if Executive becomes entitled to any relocation reimbursement
in accordance with Section 6(b).

 

b.           Relocation Reimbursement.
The Company will promptly reimburse Executive, up to a maximum of Fifteen Thousand Dollars ($15,000.00) for all qualified moving
expenses, as defined under Internal Revenue Service Publication 521, reasonably incurred by Executive in connection with the Executive’s
relocation to the Company’s offices in Newark, New Jersey, subject to Executive’s presentation of appropriate supporting
documentation. The relocation reimbursement contained in this Section 6(b) will be in effect only if Executive’s move
takes place within nine (9) months of the Effective Date.

 

7.           Equity
Incentive Grant. On the date of the Effective Date, Executive will be granted non-qualified stock options under the Neurotrope,
Inc. 2013 Equity Incentive Plan (the “Incentive Plan”) to purchase two hundred fifty thousand (250,000) shares
of Neurotrope’s common stock (the “Options”). Each of the Options shall have an exercise price equal to
the closing price of Neurotrope’s common stock on the OTCBB on the Effective Date, which shall be Executive’s date
of hire and shall vest at a rate of 20% per year for five (5) years commencing with the first anniversary of the date of grant
(i.e., with respect to fifty thousand (50,000) shares on each anniversary of the Effective Date over five (5) years). The Options
shall cease vesting as of the Date of Termination (as defined below). Notwithstanding the foregoing, in the event a Change in Control
(as such term is defined in the Incentive Plan) occurs while Executive remains employed by the Company, the unvested Options shall,
as the Administrator of the Incentive Plan determines, be assumed or an equivalent option or right
substituted by the successor corporation or a Parent or Subsidiary of the successor corporation, or in the event that the successor
corporation does not assume or substitute for the Options, the Executive will fully vest in and have the right to exercise all
of his outstanding Options.

 

    	- 2 -

    	 

    

 

8.           Vacation.
Executive shall be entitled to four (4) weeks of paid vacation per annum, which shall accrue from the Effective Date, to be taken
at a time or times acceptable to the Company, having regard to its operations. In addition, Executive shall be entitled to such
holidays consistent with the Company’s policies and practices with respect to its officers.

 

9.           General
Expense Reimbursement. The Company shall reimburse Executive for all pre-approved business related expenses incurred in the
performance of Executive’s job duties, promptly upon presentation of appropriate supporting documentation and otherwise in
accordance with the expense reimbursement policy of the Company.

 

10.           Termination
of Employment. The Company or Executive may terminate Executive’s employment at any time and for any reason in accordance
with this Section 10. The Employment Term shall be deemed to have ended on the Date of Termination (as defined herein).

 

a.           Notice
of Termination. Any purported termination of Executive’s employment (other than by reason of (i) death or (ii) Non-Renewal)
shall be communicated by written Notice of Termination (as defined herein) from one party to the other in accordance with the notice
provisions contained in Section 24. For purposes of this Agreement, a “Notice of Termination” shall mean
a notice that indicates the Date of Termination (as that term is defined in Section 10(b)), and, with respect to a termination
due to Cause (as that term is defined in Section 10(c)) or Disability (as that term is defined in Section 10(d)),
sets forth in reasonable detail the facts and circumstances that are alleged to provide a basis for such termination. A Notice
of Termination from the Company shall specify whether the termination is with or without Cause or due to Disability.

 

b.           Date
of Termination. For purposes of the Agreement, “Date of Termination” shall mean, (i) in the case of termination
by reason of Executive’s death, the date of Executive’s death; (ii) in the case of Non-Renewal, the last day of the
Initial Term or the then-current Extension Term, as applicable; and (iii) in any other case, the date specified in the Notice of
Termination (which date shall not be earlier that the thirtieth (30th) day following the date the Notice of Termination is given
except in the case of termination for Cause, for which the Company may give less than thirty (30) days’ notice).

 

c.           Cause.
For purposes of this Agreement, “Cause” shall mean: (i) any material breach of this Agreement by Executive;
(ii) any willful or gross neglect by Executive of his duties and responsibilities hereunder; (iii) any fraud, criminal misconduct,
breach of fiduciary duty, dishonesty, gross negligence or willful misconduct by Executive in connection with the performance of
his duties and responsibilities hereunder; (iv) the commission by Executive of any (A) felony or (B) crime or act of moral turpitude;
(v) insubordinate disregard of any lawful direction given to Executive by the President or the Board (provided that any disregard
by Executive of such direction that is reasonable or otherwise is accordance with good medical practice shall not be considered
to be insubordinate disregard); or (vi) significant failure or significant refusal to comply with the Company’s or Neurotrope’s
written policies and procedures as provided to Executive in advance.

 

    	- 3 -

    	 

    

 

d.           Disability.
For purposes of this Agreement, “Disability” means Executive is entitled to long-term disability benefits under
the Company’s long-term disability plan or policy as in effect on the Date of Termination, or if no such policy exists, Executive’s
inability, for a period of at least six (6) consecutive months, to perform the functions, duties and responsibilities which he
had been performing for the Company, by reason of any medically determinable physical or mental impairment which can be expected
to last for a continuous period of not less than twelve (12) months, as determined by an independent and licensed medical doctor.

 

11.           Obligations
of the Company upon Termination. Upon the termination of Executive’s employment for any reason or no reason, with or
without Cause, he shall be entitled to his accrued but unpaid vacation and the Base Salary through the Date of Termination; any
unpaid Annual Bonus for any year prior to the year in which Executive’s employment terminates; any benefits mandated under
the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) or required under the terms of any death, insurance,
or retirement plan, program, or agreement provided by the Company to which Executive is a party or in which Executive is a participant,
including, but not limited to, any short-term or long-term disability plan or program, if applicable (collectively, the salary
and benefits described in the preceding sentence shall be referred to herein as the “Accrued Benefits”).

 

a.           Termination
by the Company for a Reason Other than Cause. In addition to the Accrued Benefits, if Executive’s employment is terminated
during the Employment Term by the Company for a reason other than Cause, provided that Executive executes a full general release
in a form satisfactory to the Company, and not revoked during the seven(7) days following delivery of such release, releasing all
claims, known or unknown, that Executive may have against the Company, Neurotrope and their affiliates and such release has become
effective in accordance with its terms prior to the sixtieth (60th) day following the Date of Termination, then Executive shall
be entitled to payment by the Company in a lump sum of an amount equal to six (6) months of the Base Salary; such amount to be
paid on the sixtieth (60th) day following the Date of Termination (the “Severance”). The Severance shall be
contingent upon Executive’s compliance with Sections 12, 14 and 15. For the avoidance of doubt, notwithstanding
anything in this Section 11(a) to the contrary, if Executive’s employment is terminated for any reason set forth in
Section 11(b), below, then Executive shall not be entitled to receive the Severance.

 

b.           Termination
by Non-Renewal, Termination by the Company for Cause or by Reason of Death or Disability and Termination by Executive. If Executive’s
employment is terminated during the Employment Term (x) by Non- Renewal; (y) by the Company for Cause or due to Executive’s
death or Disability; or (z) by Executive for any reason, then Executive shall not be entitled to receive the Severance, and shall
only be entitled to the Accrued Benefits. In the event of Executive’s death, all amounts payable to Executive shall be payable
to Executive’s estate, and in the event of Executive’s Disability, all amounts payable to Executive shall be payable
to Executive or Executive’s legal representative.

 

12.           Non-Competition
and Non-Solicitation Agreement. Executive acknowledges and agrees that: (i) he will be exposed to some of the most sensitive
and confidential information possessed by the Company, Neurotrope and their affiliates (the “Company Group”),
including strategic plans, marketing plans, information regarding long-term business opportunities and information regarding the
development status of specific Company Group products, as well as extensive assessments of the competitive landscape of the industries
in which the Company Group competes; and (ii) the aforementioned information represents the product of the Company Group’s
substantial investment in research and innovation, is critical to the Company Group’s competitive success, is disclosed to
the Company Group’s senior leaders only on a strictly confidential basis, and is not made accessible to the public or to
the Company Group’s competitors.

 

    	- 4 -

    	 

    

 

Executive further acknowledges
and agrees that the business in which the Company Group is engaged is intensely competitive and that his employment by the Company
Group has required, and will continue to require, that he have access to, and knowledge of, confidential information of the Company
Group, including, but not limited to, certain or all of the Company Group’s methods, information, systems, plans for acquisition
or disposition of products, expansion plans, financial status and plans, customer lists, client data, personnel information and
trade secrets of the Company Group.

 

For and in consideration
of this exposure to confidential and sensitive information, and further in consideration of the salary, bonuses, stock and other
incentives set forth in this Agreement, Executive agrees that during his employment with the Company Group and for twelve (12)
months following the termination of his employment by any party or for any reason, he will not (a) directly or indirectly engage
in or associate in the United States with any entity engaging in the business engaged in by the Company Group with respect to neurological
disease states that is a competitor of the Company Group; or (b) solicit, for competitive business purposes, any customer, partner,
or potential customer or partner of the Company Group.

 

Executive acknowledges
that the Company Group would suffer irreparable harm if he fails to comply with the provisions of this section, and that the Company
Group would be entitled to any appropriate relief, including money damages, equitable relief and attorneys’ fees. Executive
further acknowledges that enforcement of the covenants in this section is necessary to ensure the protection and continuity of
the business and goodwill of the Company Group and that, due to the proprietary nature of the business of the Company Group, the
restrictions set forth herein are reasonable as to geography, duration and scope.

 

13.           Non-Delegation
of Executive’s Rights. The obligations, rights and benefits of Executive hereunder are personal and may not be delegated,
assigned or transferred in any manner by Executive.

 

14.           Nondisclosure
of Confidential Information. During the course of Executive’s employment with the Company, Executive will have access
to certain Confidential Information. Executive agrees to hold in strictest confidence and not to use, except for the benefit of
the Company, or except as provided below, the Company’s Confidential Information. For purposes of this Agreement, “Confidential
Information” means any information, without regard to form, relating to the Company’s, Neurotrope’s and their
subsidiaries’ and affiliates’ clients, operations, finances, and business that derives economic value, actual or potential,
from not being generally known to other persons or entities, including but not limited to technical or non-technical data, compilation
(including compilations or customer, supplier, or vendor information), programs, products or potential products, clinical or other
scientific information, methods, devices, techniques, processes, inventions, improvements, writings, memoranda, reports, drawings,
sketches, financial data, pricing methodology, formulas, patterns, strategies, studies, business development, software systems,
marketing techniques and lists of customers (including identifying information about customers), whether or not in writing. Confidential
Information includes information disclosed to the Company or Neurotrope by third parties that the Company is obligated to maintain
as confidential. Confidential Information shall not include any information that: (i) at the time of the disclosure was generally
known to the public; or (ii) becomes known to the public through no violation of this Agreement. Confidential Information shall
also not include Executive’s (i) general knowledge of customs, practices and trade; and (ii) general skills and experience.
In the event that Executive becomes legally compelled to disclose any Confidential Information, Executive shall provide the Company
with prompt written notice of such requirement prior to any disclosure and Executive will, at the Company’s expense, reasonably
cooperate with the Company in any attempt by the Company to seek to obtain a protective order or other remedy that seeks to prevent
such disclosure.

 

    	- 5 -

    	 

    

 

15.           Non
Solicitation of Employees and Contractors. Executive agrees that while Executive is employed with the Company Group, and for
one (1) year after Executive’s employment with the Company Group terminates for any reason, Executive shall not, directly
or indirectly, whether on behalf of Executive or others, solicit, lure, attempt to hire away or hire any individual who Executive
knows, at the time of such solicitation, luring, or attempt to hire or hire, is or, within six (6) months prior to the date of
such solicitation, luring, or attempt to hire aware or hire, was an employee of or independent contractor providing services to
the Company Group.

 

16.           Proprietary
Rights. Executive assigns all of Executive’s interest in any and all inventions, discoveries, improvements and patentable
or copyrightable works initiated, conceived or made by Executive, either alone or in conjunction with others, during the Employment
Term and related to the Company’s business to the Company or its nominee. Whenever reasonably requested to do so by the Company,
Executive, at Company’s expense, shall execute any and all applications, assignments or other instruments that the Company
shall in good faith deem necessary to apply for and obtain trademarks, patents or copyrights of the United States or any foreign
country or otherwise protect the interest of the Company and its affiliates therein. These obligations shall continue beyond the
conclusion of the Employment Term with respect to inventions, discoveries, improvement or copyrightable works initiated, conceived
or made by Executive during the Employment Term; and Executive shall not be entitled to receive any additional compensation in
connection with the fulfillment of such obligations.

 

17.           Return
of Company Property. Upon termination of Executive’s employment for any reason or earlier, upon the Company’s request,
Executive shall promptly return to the Company all Property (as defined herein) that has been entrusted or made available to Executive
by the Company. For purposes of the Agreement, “Property” means all records, files, electronic storage media,
memoranda, reports, price lists, customer lists, drawings, plans, sketches, keys, codes, computer hardware and software, equipment
and other property of any kind or description prepared, used or possessed by Executive during Executive’s employment with
the Company and, if applicable, any of its affiliates (and any duplicates of any such property), which relate to the Company or
its affiliates, or the Company’s or its affiliates’ business, products or services.

 

18.           Remedies.
In the event of a breach or threatened breach by Executive of any provision of Sections 12, 14 or 15, Executive
consents and agrees that the Company is entitled to seek injunctive relief in a court of appropriate jurisdiction, without the
need to post any bond, and Executive further consents and stipulates to the entry of such injunctive relief in such a court prohibiting
him from breaching this Agreement. The aforementioned equitable relief shall be in addition to, not in lieu of, the right of the
Company to claim and recover damages in addition to injunctive relief.

 

19.           Entire
Agreement and Amendment. This Agreement embodies the entire agreement and understanding of the parties hereto in respect of
the subject matter of this Agreement, and supersedes and replaces all prior agreements, understandings and commitments with respect
to such subject matter. This Agreement may be amended only by a written document signed by both parties to this Agreement.

 

20.           Governing
Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New Jersey, excluding
any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Agreement to
the substantive law of another jurisdiction, and any action brought hereunder shall be brought in a court of competent jurisdiction
in the State of New Jersey.

 

    	- 6 -

    	 

    

 

21.           Successors.
This Agreement shall inure to the benefit of the Company and its permitted successors and assign. The Company may assign this Agreement
to any successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
all of the business or assets of the Company.

 

22.           Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

23.           Severability.
If any section, subsection or provision hereof is found for any reason whatsoever to be invalid or inoperative, that section, subsection
or provision shall be deemed severable and shall not affect the force and validity of any other provision of this Agreement. If
any covenant herein is determined by a count to be overly broad thereby making the covenant unenforceable, the parties agree and
it is their desire that such court shall substitute a reasonable judicially enforceable limitation in place of the offensive part
of the covenant and that as so modified the covenant shall be as fully enforceable as if set for the herein by the parties themselves
in the modified form.

 

24.           Notices.
Any notice, request, or instruction to be given hereunder shall be in writing and shall be deemed given when personally delivered
or three (3) days after being sent by United States Certified Mail, postage prepaid, with Return Receipt Requested, to the parties
at their respective addresses set forth below:

 

To the Company:

 

Neurotrope BioScience, Inc.

50 Park Place

Newark, New Jersey 07102

 

To Executive:

 

Dr. Warren Wasiewski

2051 Waterford Drive

Lancaster, Pennsylvania 17601

 

25.           Waiver
or Breach. The waiver by any party of any provisions of this Agreement shall not operate or be construed as a waiver of any
prior or subsequent breach by the other party.

 

26.           Tax
Withholding. The Company or an affiliate may deduct from all compensation and benefits payable under this Agreement any taxes
or withholdings the Company is required to deduct pursuant to state, federal or local laws.

 

27.           Code
Section 409A. To the extent applicable, it is intended that this Agreement and any payment made hereunder shall be exempt from
or comply with the requirements of Section 409A of the Code, and any related regulations or other guidance promulgated with respect
to such Section by the U.S. Department of the Treasury or the Internal Revenue Service (“Code Section 409A”).
Any provision that would cause the Agreement or any payment hereof to fail to be exempt from or satisfy Code Section 409A shall
have no force or effect until amended to comply with Code Section 409A. Without limiting the generality of the foregoing, for all
purposes under this Agreement, reference to Executive’s “termination of employment” (and corollary terms) with
the Company shall be construed to refer to Executive’s “separation from service” (as determined under Treasury
Regulation Section 1.409A-1(h), as uniformly applied by the Company) with the Company. In the event that Executive is, at the Date
of Termination, a “specified employee” within the meaning of Code Section 409A and any related regulations, no amount
which is nonqualified deferred compensation subject to such Code Section 409A and regulations shall be paid to Executive prior
to the date which is six (6) months after Executive’s separation from service. If the payments are delayed as a result of
the previous sentence, than on the first business day following the end of such six (6) month period (or such earlier date upon
which such amount can be paid under Section 409A of the Code without resulting in a prohibited distribution), the Company shall
pay Executive a lump-sum amount equal to the cumulative amount that would have otherwise been payable to Executive during such
period.

 

    	- 7 -

    	 

    

 

28.           Survival.
Executive hereby acknowledges that obligations under Sections 12, 14, and 15 shall survive the termination
of Executive’s employment and of the Employment Term and be binding by their terms at all times subsequent to the termination
of employment for the periods specified therein. Additionally, upon the expiration or other termination of this Agreement, the
respective rights and obligations of the parties hereto shall survive such expiration or other termination to the extent necessary
to carry out the intentions of the parties under this Agreement.

 

29.           Acknowledgment
of Full Understanding. Executive acknowledges and agrees that he has fully read, understands, and voluntarily enters into this
Agreement. Executive acknowledges and agrees that he has had an opportunity to ask questions and consult with an attorney of his
choice prior to signing this Agreement.

 

[Signature
Page Follows]

 

 

 

    	- 8 -

    	 

    

 

IN WITNESS WHEREOF
the parties have executed this Agreement on the date first set forth above.

 

 

 

	 	NEUROTROPE BIOSCIENCE, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Charles S. Ramat
	 	 	 
	 	Its:	President
	 	 	 
	 	/s/ Warren W. Wasiewski
	 	Dr. Warren Wasiewski

 

 

 

 

 

 

 

 

    	- 9 -EX-10.1

 Exhibit 10.1 

FORM OF 
 INDEMNIFICATION
AGREEMENT 
 THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is made and entered into as of
            between Gulfport Energy Corporation, a Delaware corporation (the “Company”), and
            (“Indemnitee”). 
 WITNESSETH THAT: 

WHEREAS, highly competent persons have become more reluctant to serve corporations as directors or officers or in other capacities unless they
are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation; 

WHEREAS, the Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain
qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance
has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at
higher premiums and with more exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among
other things, matters that traditionally would have been brought only against the Company or business enterprise itself. The Bylaws of the Company require indemnification of the officers and directors of the Company. Indemnitee may also be
entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (“DGCL”). The Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and
thereby contemplate that contracts may be entered into between the Company and members of the Board, officers and other persons with respect to indemnification; 

WHEREAS, the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such
persons; 
 WHEREAS, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the
best interests of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future; 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on
behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; 

WHEREAS, this Agreement is a supplement to and in furtherance of the Bylaws of the Company and any resolutions adopted pursuant thereto, and
shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and 
 WHEREAS, Indemnitee does
not regard the protection available under the Company’s Bylaws and insurance as adequate in the present circumstances, and may not be willing to serve as an officer or director without adequate protection, and the Company desires Indemnitee to
serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that Indemnitee be so indemnified. 

 NOW, THEREFORE, in consideration of Indemnitee’s agreement to serve as an officer and/or
director from and after the date hereof, the parties hereto agree as follows: 
 1. Indemnity of Indemnitee. The Company hereby
agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law, as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality thereof: 

(a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of
indemnification provided in this Section 1(a) if, by reason of his Corporate Status (as hereinafter defined), the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding (as hereinafter defined) other than
a Proceeding by or in the right of the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as hereinafter defined), judgments, penalties, fines and amounts paid in settlement actually and
reasonably incurred by him, or on his behalf, in connection with such Proceeding or any claim, issue or matter therein, if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company, and with respect to any criminal Proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful. 

(b) Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this
Section 1(b) if, by reason of his Corporate Status, the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b),
Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee, or on the Indemnitee’s behalf, in connection with such Proceeding if the Indemnitee acted in good faith and in a manner the Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company; provided, however, if applicable law so provides, no indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as
to which Indemnitee shall have been adjudged to be liable to the Company unless and to the extent that the Court of Chancery of the State of Delaware shall determine that such indemnification may be made. 

(c) Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement,
to the extent that Indemnitee is, by reason of his Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, he shall be indemnified to the maximum extent permitted by law, as such may be amended from time to
time, against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all
claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter. For purposes of
this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

2. Additional Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in
Section 1 of this Agreement, the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him or on his
behalf if, by reason of his Corporate Status, he is, or is threatened to be made, a party to or participant in any Proceeding (including a Proceeding by or in the right of the Company), including, without limitation, all liability arising out of the
negligence or active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee that is
finally determined (under the procedures, and subject to the presumptions, set forth in Sections 6 and 7 hereof) to be unlawful. 

  
 2 

 3. Contribution. 

(a) Whether or not the indemnification provided in Sections 1 and 2 hereof is available, in respect of any threatened, pending
or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement
of such action, suit or proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and relinquishes any right of contribution it may have against Indemnitee. The Company shall not enter into any settlement of
any action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 (b) Without diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason,
Indemnitee shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such
action, suit or proceeding), the Company shall contribute to the amount of Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received
by the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand,
from the transaction or events from which such action, suit or proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to
the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on
the other hand, in connection with the transaction or events that resulted in such expenses, judgments, fines or settlement amounts, as well as any other equitable considerations which applicable law may require to be considered. The relative fault
of the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand,
shall be determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and the degree to which their
conduct is active or passive. 
 (c) The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of
contribution which may be brought by officers, directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee. 

(d) To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to
Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for
Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative
benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee
in connection with such event(s) and/or transaction(s). 
 4. Indemnification for Expenses of a Witness. Notwithstanding any other
provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a witness, or is made (or asked) to respond to discovery requests, in any Proceeding to which Indemnitee is not a party, he shall be indemnified
against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. 

  
 3 

 5. Advancement of Expenses. Notwithstanding any other provision of this Agreement, the
Company shall advance all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30) days after the receipt by the Company of a statement or statements
from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be
preceded or accompanied by a written undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and undertakings
to repay pursuant to this Section 5 shall be unsecured and interest free. 
 6. Procedures and Presumptions for Determination
of Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware. Accordingly, the parties
agree that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee is entitled to indemnification under this Agreement: 

(a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith
such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of
such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing, any failure of Indemnitee to provide such a request to the Company, or to provide such a request in a
timely fashion, shall not relieve the Company of any liability that it may have to Indemnitee unless, and to the extent that, such failure actually and materially prejudices the interests of the Company. 

(b) Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a) hereof, a determination
with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following five methods, which, except for the fourth method in the event of a Change of Control as defined in Section 13 of this Agreement
(unless waived by the Indemnitee), shall be at the election of the Board: (1) by a majority vote of the disinterested directors, even though less than a quorum, (2) by a committee of disinterested directors designated by a majority vote of
the disinterested directors, even though less than a quorum, (3) if there are no disinterested directors or if the disinterested directors so direct, by independent legal counsel in a written opinion to the Board, a copy of which shall be
delivered to the Indemnitee, (4) in the event of a Change of Control, by independent legal counsel in a written opinion to the Board, a copy of which shall be delivered to the Indemnitee or (5) if so directed by the Board, by the
stockholders of the Company. For purposes hereof, disinterested directors are those members of the Board who are not parties to the action, suit or proceeding in respect of which indemnification is sought by Indemnitee. 

(c) If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof,
the Independent Counsel shall be selected as provided in this Section 6(c). The Independent Counsel shall be selected by the Board. Indemnitee may, within 10 days after such written notice of selection shall have been given, deliver to
the Company a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as
defined in Section 13 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a
written objection is made and substantiated, the Independent Counsel 

  
 4 

 
selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days after submission by
Indemnitee of a written request for indemnification pursuant to Section 6(a) hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Court of Chancery of the State of
Delaware or other court of competent jurisdiction for resolution of any objection which shall have been made by the Indemnitee to the Company’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person
selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 6(b) hereof. The
Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 6(b) hereof, and the Company shall pay all reasonable fees and expenses
incident to the procedures of this Section 6(c), regardless of the manner in which such Independent Counsel was selected or appointed. 

(d) In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such
determination shall presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the
failure of the Company (including by its directors or independent legal counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee
has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or independent legal counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or
create a presumption that Indemnitee has not met the applicable standard of conduct. 
 (e) Indemnitee shall be deemed to have acted in
good faith if Indemnitee’s action is based on the records or books of account of the Enterprise (as hereinafter defined), including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course
of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable care
by the Enterprise. In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this
Agreement. Whether or not the foregoing provisions of this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he reasonably believed to be in or not opposed
to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 

(f) If the person, persons or entity empowered or selected under Section 6 to determine whether Indemnitee is entitled to
indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for
indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or
entity making such determination with respect to entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation and/or information relating thereto; and provided, further, that the foregoing provisions
of this Section 6(f) shall not apply if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 6(b) of this Agreement and if (A) within fifteen (15) days after
receipt by the Company of the request for such determination, the Board or the Disinterested Directors, if appropriate, resolve to submit such determination to the stockholders for their consideration at an annual meeting

  
 5 

 
thereof to be held within seventy-five (75) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen
(15) days after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having been so called and such determination is made thereat. 

(g) Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to
indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee
and reasonably necessary to such determination. Any Independent Counsel, member of the Board or stockholder of the Company shall act reasonably and in good faith in making a determination regarding the Indemnitee’s entitlement to
indemnification under this Agreement. Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company
(irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 

(h) The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to avoid
expense, delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation,
settlement of such action, claim or proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits or otherwise in such action, suit or proceeding. Anyone seeking to
overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 
 (i) The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself
adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect
to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful. 
 7. Remedies of
Indemnitee. 
 (a) In the event that (i) a determination is made pursuant to Section 6 of this Agreement that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no determination of entitlement to indemnification is made
pursuant to Section 6(b) of this Agreement within 90 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement within ten (10) days after
receipt by the Company of a written request therefor or (v) payment of indemnification is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification or such determination is deemed to
have been made pursuant to Section 6 of this Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s entitlement
to such indemnification. Indemnitee shall commence such proceeding seeking an adjudication within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The Company
shall not oppose Indemnitee’s right to seek any such adjudication. 
 (b) In the event that a determination shall have been made
pursuant to Section 6(b) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial on the merits,
and Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b). 

  
 6 

 (c) If a determination shall have been made pursuant to Section 6(b) of this
Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement by Indemnitee of a material fact,
or an omission of a material fact necessary to make Indemnitee’s misstatement not materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification under applicable law. 

(d) In the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his rights under, or to recover
damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies maintained by the Company, the Company shall pay on his behalf, in advance, any and all expenses (of the types described
in the definition of Expenses in Section 13 of this Agreement) actually and reasonably incurred by him in such judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification,
advancement of expenses or insurance recovery. 
 (e) The Company shall be precluded from asserting in any judicial proceeding commenced
pursuant to this Section 7 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is bound by all the provisions of this Agreement. The Company
shall indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefore) advance, to the extent not prohibited by law, such expenses to
Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advance of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance
policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be. 

(f) Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement
shall be required to be made prior to the final disposition of the Proceeding. 
 8. Non-Exclusivity; Survival of Rights; Insurance;
Subrogation; Primacy of Indemnificaton. 
 (a) The rights of indemnification as provided by this Agreement shall not be deemed
exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the By-laws, any agreement, a vote of stockholders, a resolution of directors of the Company, or otherwise. No
amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to such
amendment, alteration or repeal. To the extent that a change in the DGCL, whether by statute or judicial decision, permits greater indemnification than would be afforded currently under the Certificate of Incorporation, By-laws and this Agreement,
it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right
and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other right or remedy. 

  
 7 

 (b) To the extent that the Company maintains an insurance policy or policies providing liability
insurance for directors, officers, employees, or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such person serves at the request of the Company,
Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under such policy or policies. If, at the time of
the receipt of a notice of a claim pursuant to the terms hereof, the Company has directors’ and officers’ liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in
accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding
in accordance with the terms of such policies. 
 (c) In the event of any payment under this Agreement, the Company shall be subrogated to
the extent of such payment to all of the rights of recovery of Indemnitee who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to
bring suit to enforce such rights. 
 (d) The Company shall not be liable under this Agreement to make any payment of amounts otherwise
indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. 

(e) The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the
Company as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or
advancement of expenses from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. 
 9.
Exception to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity in connection with any claim made against Indemnitee: 

(a) for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except
with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or 
 (b) for an accounting of
profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or
common law; or 
 (c) in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding
(or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any such part of any Proceeding) prior to its initiation
or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law. 

10. Duration of Agreement. All agreements and obligations of the Company contained herein shall continue for so long as Indemnitee may
have any liability or potential liability by virtue of serving as an officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture,
trust or other enterprise) and shall continue thereafter so long as Indemnitee shall be subject to any Proceeding 

  
 8 

 
(or any proceeding commenced under Section 7 hereof) by reason of his Corporate Status, whether or not he is acting or serving in any such capacity at the time any liability or
expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (including any direct or
indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), assigns, spouses, heirs, executors and personal and legal representatives. 

11. Security. To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time
provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the
prior written consent of the Indemnitee. 
 12. Enforcement. 

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

(b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all
prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof. 

(c) The Company shall not seek from a court, or agree to, a “bar order” which would have the effect of prohibiting or limiting the
Indemnitee’s rights to receive advancement of expenses under this Agreement. 
 13. Definitions. For purposes of this Agreement:

 (a) “Change of Control” means the occurrence of any of the following events: 

(i) The acquisition after the date of this Agreement by any individual, entity or group (within the meaning of Section 13(d)(3)
or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 15% or more of either the
then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election
of directors (the “Outstanding Company Voting Securities”); 
 (ii) Individuals who, as of the date of this
Agreement, constitute the Board of Directors (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board of Directors; provided, however, that any individual who becomes a director of the
Company subsequent to the date of this Agreement and whose election or appointment by the Board of Directors or nomination for election by the Company’s stockholders was approved by a vote of at least a majority of the then Incumbent Directors
will be considered as an Incumbent Director, unless such individual’s initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened
solicitation of proxies or consents by or on behalf of a person or entity other than the Company; 
 (iii) Consummation of a
reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or any of its 

  
 9 

 
Subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company or an acquisition of assets or stock of another entity by the Company or any of its Subsidiaries
(each a “Business Combination”) unless, in each case, following such Business Combination (i) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Common Stock and
Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting
securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including a corporation that, as a result of such Business Combination, owns the Company or all or
substantially all of the Company’s assets either directly or through one or more Subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and
the Outstanding Company Voting Securities, as the case may be, (ii) no person or entity (excluding (A) any entity resulting from such Business Combination or (B) any employee benefit plan (or related trust) of the Company or
corporation resulting from such Business Combination) beneficially owns, directly or indirectly 15% or more of either the then- outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting
power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to such Business Combination, and (iii) at least a majority of the members of the board of directors of the corporation
resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination; or 

(iv) Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

(b) “Corporate Status” describes the status of a person who is or was a director, officer, partner, trustee, member,
employee, agent or fiduciary of the Company or of any other corporation, partnership, joint venture, trust, limited liability company, employee benefit plan or other enterprise that such person is or was serving at the express written request of the
Company. 
 (c) “Disinterested Director” means a director of the Company who is not and was not a party to the
Proceeding in respect of which indemnification is sought by Indemnitee. 
 (d) “Enterprise” shall mean the Company
and any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that Indemnitee is or was serving at the express written request of the Company as a director, officer, partner, trustee, member, employee, agent
or fiduciary. 
 (e) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs,
transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements or expenses of the types customarily incurred in
connection with prosecuting, defending, preparing to prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding, or responding to, or objecting to, a request to provide discovery in any Proceeding.
Expenses also shall include Expenses incurred in connection with any appeal resulting from any Proceeding and any federal, state, local or foreign taxes imposed on the Indemnitee as a result of the actual or deemed receipt of any payments under this
Agreement, including without limitation the premium, security for, and other costs relating to any cost bond, supersede as bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or
the amount of judgments or fines against Indemnitee. 
 (f) “Independent Counsel” means a law firm, or a member of
a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party

  
 10 

 
(other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding
giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing,
would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above
and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

(g) “Losses” means any loss, liability, judgments, damages, amounts paid in settlement, fines (including excise taxes
and penalties assessed with respect to employee benefit plans), penalties (whether civil, criminal or otherwise) and all interest, assessments and other charges paid or payable in connection with or in respect of any of the foregoing. 

(h) “Proceeding” includes any threatened, pending or completed action, suit, arbitration, alternate dispute
resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company or otherwise and whether civil, criminal, administrative or
investigative, in which Indemnitee was, is or will be involved as a party or otherwise, by reason of his or her Corporate Status, by reason of any action taken by him or of any inaction on his part while acting in his or her Corporate Status; in
each case whether or not he is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement; including one pending on or before the date of this Agreement, but
excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce his rights under this Agreement. 

14. Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of
any other provision. Further, the invalidity or unenforceability of any provision hereof as to Indemnitee shall in no way affect the validity or enforceability of any provision hereof as to the other. Without limiting the generality of the
foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision shall be deemed modified,
consistent with the aforementioned intent, to the extent necessary to resolve such conflict. 
 15. Modification and Waiver. No
supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any
other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 16. Notice By Indemnitee.
Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject
to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay
materially prejudices the Company. 
 17. Notices. All notices and other communications given or made pursuant to this Agreement
shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not so
confirmed, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one 

  
 11 

 
(1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent: 

(a) To Indemnitee at the address set forth below Indemnitee’s signature hereto. 

(b) To the Company at: 

      Gulfport Energy Corporation 

      14313 North May Avenue 

      Suite 100 

      Oklahoma City, Oklahoma 73134 

      Facsimile:  (405) 848-8816 

      Attention: Secretary 

or to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be. 

18. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same Agreement. Counterparts may be delivered via facsimile, electronic mail or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be
valid and effective for all purposes. 
 19. Headings. The headings of the paragraphs of this Agreement are inserted for convenience
only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 
 20. Governing Law and Consent
to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and
Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware
Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or
proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any
such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 
 21. Mutual
Acknowledgement. Both the Company and Indemnitee acknowledge that in certain instances, federal law or public policy may override applicable state law and prohibit the Company from indemnifying its directors and officers under this Agreement or
otherwise. For example, the Company and Indemnitee acknowledge that the Securities and Exchange Commission (the “SEC”) has taken the position that indemnification is not permissible for liabilities arising under certain
federal securities laws, and federal legislation prohibits indemnification for certain ERISA violations. Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the SEC to submit the
question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee.” 

[SIGNATURE PAGE TO FOLLOW] 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have executed this Indemnification Agreement on and as of
the day and year first above written. 
  

			
	GULFPORT ENERGY CORPORATION
		
	By:	 	  

	Name:
	Title:
	
	INDEMNITEE
	
	  

	
	Address:
	  

	  

	  

	  

 Indemnification Agreement Signature Page

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}]]