Document:

EX-10.6

 Exhibit 10.6 

INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION AGREEMENT (this “Agreement”) is made and entered into as of
[                ], 20[                ] between Paycor HCM, Inc., a Delaware corporation
(the “Company”), and [                ] (“Indemnitee”). 

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 corporation or business enterprise itself. The Bylaws of the Company (as amended or restated, the “Bylaws”) 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 of the Company 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 and its 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 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 may not be willing to serve or continue to serve as an officer or
director without adequate protection, and the Company desires Indemnitee to serve or continue to serve in such capacity; Indemnitee is willing to serve, continue to serve and take on additional service for or on behalf of the Company on the
condition that Indemnitee be so indemnified[.][; and] 
 [WHEREAS, Indemnitee has certain rights to indemnification and/or insurance
provided by Apax Partners, L.P. (“Apax”) or affiliates of Apax which Indemnitee and Apax intend to be secondary to the primary obligation of the Company to indemnify Indemnitee as provided herein, with the Company’s
acknowledgment of and agreement to the foregoing being a material condition to Indemnitee’s willingness to serve on the Board].1 

NOW, THEREFORE, in consideration of Indemnitee’s agreement to serve as a director or officer from and after the date hereof, the parties
hereto agree as follows: 
 1. Indemnity of Indemnitee. Subject to the provisions of Section 9, 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, if Indemnitee was or is, or is threatened to be made, a party to, or otherwise becomes involved in, any
Proceeding (as hereinafter defined) by reason of Indemnitee’s Corporate Status (as hereinafter defined). 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 l(a) if, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant in, or otherwise becomes involved 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, judgments, penalties, fines and amounts paid in
settlement actually and reasonably incurred by Indemnitee, or on Indemnitee’s behalf, in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner 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 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 Indemnitee’s Corporate Status, 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 Indemnitee, or on Indemnitee’s behalf, in connection with such Proceeding if Indemnitee acted in good faith and in
a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; 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 finally adjudged by a court to be liable to the Company unless and only to the extent that the court in which the Proceeding was brought shall determine that Indemnitee is
fairly and reasonably entitled to indemnification. 
  

	1 	 NTD: Bracketed language to be included in form for Apax directors. 

  
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 (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 Indemnitee’s Corporate Status, a party to or participant in and is successful, on the merits or otherwise, in any Proceeding or in defense of
any claim, issue or matter therein, in whole or in part, Indemnitee 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 Indemnitee or on
Indemnitee’s 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 Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim, issue or matter. For purposes of this
Section 1(c) 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.

 (d) [Indemnification of Nominating Member. If (i) Indemnitee is or was affiliated with one or more investment partnerships
that has invested directly or indirectly in the Company (a “Nominating Member”), (ii) the Nominating Member is, or is threatened to be made, a party to or a participant in any Proceeding, and (iii) the Nominating Member’s
involvement in the Proceeding results from any claim based on the Indemnitee’s service to the Company as a director or other fiduciary of the Company, the Nominating Member will be entitled to indemnification hereunder for Expenses to the same
extent as Indemnitee and advancement of Expenses shall apply to any such indemnification of Nominating Member. The Company and Indemnitee agree that each Nominating Member is an express third party beneficiary of the terms of this
Section 1(d).]2 
 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, to the fullest extent permitted by applicable law, indemnify and
hold harmless Indemnitee against all Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf if, by reason of Indemnitee’s Corporate Status, Indemnitee
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). The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement, other than
those set forth in Section 9 hereof, 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. 
 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), to the fullest extent permitted by applicable law, the Company shall pay, in the first
instance, the entire amount of any judgment or settlement of such action, suit or proceeding 
  

	2 	 NTD: Bracketed language to be included in forms for Apax directors.

  
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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, without
the Indemnitee’s prior written consent, enter into any such settlement of any action, suit or proceeding (in whole or in part) unless such settlement (i) provides for a full and final release of all claims asserted against Indemnitee and
(ii) does not impose any Expense, judgment, fine, penalty or limitation on 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), to the fullest extent permitted by applicable law, 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 the 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) To the fullest extent permitted by applicable law, 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). 

  
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 4. Indemnification for Expenses of a Witness. Notwithstanding any other provision of
this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness, is made (or asked) to respond to discovery requests, or is otherwise asked to
participate, in any Proceeding to which Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 

5. Advancement of Expenses. Notwithstanding any other provision of this Agreement (other than Section 9), the
Company shall advance, to the extent not prohibited by law, all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding (or part of any Proceeding) not initiated by Indemnitee or any Proceeding initiated by Indemnitee with
the prior approval of the Board as provided in Section 9(d), 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. Any advances pursuant to this Section 5 shall be unsecured and
interest free. In accordance with Section 7(d) of this Agreement, advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred
preparing and forwarding statements to the Company to support the advances claimed. This Section 5 shall not apply to claim by Indemnitee for expenses in a matter for which indemnity and advancement of expenses is excluded
pursuant to Section 9. 
 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 four methods, which shall be at the election of the Board: (1) by a majority vote of the Disinterested Directors (as
hereinafter defined), 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 

  
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Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (4) if so directed by the Board, by the stockholders of the Company;
provided, however, that if a Change in Control has occurred, the determination with respect to Indemnitee’s entitlement to indemnification shall be made by Independent Counsel. 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) In the event the determination of entitlement to indemnification is to be made by Independent Counsel, the Independent Counsel shall be
selected as provided in this Section 6(c). If a Change in Control has not occurred, the Independent Counsel shall be selected by the Board, and the Company shall give written notice to the Indemnitee advising Indemnitee of
the identity of the Independent Counsel so selected. 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 12 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 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 a Change in Control has occurred, the Independent Counsel shall be selected by the Indemnitee
(unless the Indemnitee shall request that such selection be made by the Board, in which event the preceding sentence shall apply), and approved by the Board within 20 days after notification by Indemnitee. If (i) an Independent Counsel is to
make the determination of entitlement pursuant to this Section 6, and (ii) 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 (including as a result of an objection to the selected Independent Counsel), 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 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 making such determination shall to the
fullest extent permitted by law presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the burden of proof to overcome such presumption. 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 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. 

  
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 (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 Indemnitee 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 empowered or selected under this Section 6 to determine whether Indemnitee is entitled to
indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall to the fullest extent permitted by law 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 30-day period may be extended
for a reasonable time, not to exceed an additional fifteen (15) days, if the Person 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 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 making such determination with respect to Indemnitee’s entitlement to
indemnification, including providing to such Person 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 costs or expenses (including reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the Person 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. 

  
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 (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 to the fullest extent permitted by law 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 Indemnitee 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 Indemnitee’s 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 thirty (30) days after receipt by the Company of the request for indemnification or (iv) 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, contribution or advancement of Expenses. Alternatively, Indemnitee, at Indemnitee’s option,
may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award
in arbitration. 
 (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 or arbitration commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial, or arbitration, on the merits,
and Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b). In any judicial proceeding or arbitration commenced pursuant to this Section 7, Indemnitee shall be
presumed to be entitled to indemnification under this Agreement and the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be,

  
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and the Company may not refer to or introduce into evidence any determination pursuant to Section 6(b) of this Agreement adverse to Indemnitee for any purpose other than
to establish its compliance with the terms of this Agreement. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 7, Indemnitee shall not be required to reimburse the Company for any
advances pursuant to Section 5 until a final determination is made with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed). 

(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 or arbitration 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, incurs costs, in a judicial or arbitration proceeding
or otherwise, attempting to enforce Indemnitee’s 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 Indemnitee’s behalf, in advance, any and all expenses (of the types described in the definition of Expenses in Section 12 of this Agreement) actually and reasonably incurred by Indemnitee in such efforts,
regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of expenses or insurance recovery, to the fullest extent permitted by applicable law. It is the intent of the Company that, to the fullest
extent permitted by applicable law, Indemnitee not be required to incur legal fees or other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation or otherwise because the
cost and expense thereof would substantially detract from the benefits intended to be extended to Indemnitee hereunder. 
 (e) The Company
shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration 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 or before any such arbitrator that the Company is bound by all the provisions of this Agreement. 

(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; [Primacy of Indemnification;] Insurance; Subrogation. 

(a) The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any
other rights to which Indemnitee may at any time be entitled under applicable law, the Amended & Restated Certificate of Incorporation of the Company (as amended or restated, the “Charter”), the Bylaws,

  
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any agreement, a vote of stockholders, a resolution of directors or otherwise, of the Company. 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 Indemnitee’s 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 Charter, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits
so afforded by such change. 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. 

(b) The Company shall, if commercially reasonable, obtain and maintain in effect during the entire period for which the Company is obligated
to indemnify Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies to provide the directors and officers of the Company with coverage for losses from wrongful acts and omissions and to ensure the
Company’s performance of its indemnification obligations under this Agreement. 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 such officer or
director under such policy or policies. In all such insurance policies, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the
Company’s directors and officers. At the time of the receipt of a notice of a claim pursuant to the terms hereof, 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 Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such
policies. 
 (c) [The Company hereby acknowledges that Indemnitee has certain rights to indemnification, advancement of expenses and/or
insurance provided by Apax and certain affiliates that, directly or indirectly, (i) are controlled by, (ii) control or (iii) are under common control with, Apax (collectively, the “Fund Indemnitors”). With respect to
any amounts that are subject to indemnity under this Agreement and also subject to an indemnity obligation owed by Fund Indemnitors, the Company hereby agrees (i) that, as compared to the Fund Indemnitors, it is the indemnitor of first resort
with respect to any rights to indemnification provided to Indemnitee herein (i.e., its obligations to Indemnitee are primary and any obligation of the Fund Indemnitors to advance expenses or to provide indemnification for the same expenses or
liabilities incurred by Indemnitee is secondary), (ii) that it shall be required to advance the full amount of expenses incurred by Indemnitee and shall be liable for the full amount of all Expenses, judgments, penalties, fines and amounts paid
in settlement to the extent legally permitted and as required by the terms of this Agreement and the Charter or Bylaws of the Company (or any other agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have
against the Fund Indemnitors, and (iii) that it irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect
thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf 

  
 10 

 
of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution
and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree that the Fund Indemnitors are express third party beneficiaries of the terms of
this Section 8(c).]3 
 (d) [Except as provided in
Section 8(c) above,] 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 [(other than against the Fund
Indemnitors)], 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. 

(e) [Except as provided in Section 8(c) above,] the Company shall not be liable under this Agreement to make any
payment of amounts otherwise indemnifiable (or for which advancement of Expenses is provided) hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

 (f) [Except as provided in Section 8(c) above,] 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 or advancement of expenses 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; [provided,
that the foregoing shall not affect the rights of Indemnitee or the Fund Indemnitors set forth in Section 8(c) above;] 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 Exchange Act (as hereinafter defined), or similar provisions of state statutory law or common law; or 

 

	3 	 NTD: Bracketed language to be included in forms for Apax directors. 

  
 11 

 (c) for reimbursement to the Company of any bonus or other incentive-based or equity-based
compensation or of any profits realized by Indemnitee from the sale of securities of the Company, in each case as required under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to
Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”) or Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act in connection with an accounting restatement of the Company or the
payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act); 

(d) 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 Company has joined in or the Board authorized the Proceeding (or any part of any Proceeding) prior to its
initiation, (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law, or (iii) the Proceeding is one to enforce Indemnitee’s rights under this Agreement
or; 
 (e) any reimbursement of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy
adopted by the Board or the compensation committee of the Board, including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act. 

10. Non-Disclosure of Payments. Except as expressly required by the securities laws of the
United States of America, neither party shall disclose any payments under this Agreement unless prior approval of the other party is obtained. If any payment information must be disclosed, the Company shall afford the Indemnitee an opportunity to
review all such disclosures and, if requested, to explain in such statement any mitigating circumstances regarding the events to be reported. 

11. Duration of Agreement. All agreements and obligations of the Company contained herein shall continue until and terminate upon the
later of (i) twenty (20) years after the date that Indemnitee shall have ceased to serve as a director or officer of the Company or a director, officer, trustee, partner, managing member, fiduciary, employee or agent of any other corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise which Indemnitee served at the request of the Company, and (ii) one (1) year after the final termination of any Proceeding (including any rights of appeal thereto) in
respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any Proceeding commenced by Indemnitee pursuant to Section 7 of this Agreement relating thereto (including any
rights of appeal of any Section 7 Proceeding). Termination of this Agreement shall not adversely affect any right or protection hereunder of any Indemnitee in respect of any Proceeding (regardless of when such Proceeding is
first threatened, commenced or completed) arising out of, or related to, any act or omission occurring prior to the time of such termination. 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. 

  
 12 

 12. Definitions. For purposes of this Agreement: 

(a) “Beneficial Owner” shall have the meaning given to such term in Rule 13d-3 under
the Exchange Act; provided, however, that Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another entity. 

(b) “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the
following events: 
 (i) Acquisition of Stock by Third Party. Any Person (as defined below), other than Apax and its
affiliates, and other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company, is or becomes the Beneficial Owner (as defined above), directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities,
unless the change in relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding securities entitled to vote generally in the election of directors; 

(ii) Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior
to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a Person who has entered into an agreement with the Company to effect a transaction
described in Section 12(b)(i), 12(b)(iii) or 12(b)(iv)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute
at least a majority of the members of the Board; 
 (iii) Corporate Transactions. The effective date of a merger or
consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and
with the power to elect at least a majority of the board of directors or other governing body of such surviving entity; and 

  
 13 

 (iv) Liquidation. The approval by the stockholders of the Company of
a complete liquidation of the Company or an agreement or series of agreements for the sale or disposition by the Company of all or substantially all of the Company’s assets, or, if such approval is not required, the decision by the Board to
proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions. 
 (c) “Corporate
Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the Company, any direct or indirect subsidiary of the Company, or of any other corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise that such person is or was serving at the express written request of the Company. 
 (d)
“Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee. 

(e) “Enterprise” 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 request of the Company as a director, officer, trustee, partner, managing member, employee, agent or fiduciary. 

(f) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

(g) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts
and other professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, ERISA excise taxes and penalties, 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 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, supersedeas 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. 
 (h) “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 (5) years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either
such party (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 

  
 14 

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

(j) “Proceeding” includes any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration,
mediation, 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 the fact that Indemnitee is or was an officer or director of the Company, by reason of any action taken by Indemnitee or of any
inaction on Indemnitee’s part while acting as an officer or director of the Company, or by reason of the fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of another
corporation, partnership, joint venture, trust or other enterprise; in each case whether or not Indemnitee 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 Indemnitee’s rights under this Agreement.

 13. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any
reason whatsoever: (i) the validity, legality, and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision
held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (ii) such provision or
provisions shall be deemed reformed to the fullest extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (iii) to the fullest extent possible, the provisions of this Agreement
(including, without limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed
so as to give effect to the intent manifested thereby. Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee and Nominating Member indemnification rights to the fullest extent permitted by applicable
laws. 

  
 15 

 14. Enforcement and Binding Effect. 

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

(b) Without limiting any of the rights of Indemnitee under the Charter or Bylaws of the Company as they may be amended from time to time,
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 indemnification and advancement of expenses provided by, or granted pursuant to, this Agreement shall be
binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of
the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or of any other Enterprise at the Company’s request, and shall inure to the benefit of Indemnitee and Indemnitee’s
spouse, assigns, heirs, devisees, executors and administrators and other legal representatives. 
 (d) The Company shall require and cause
any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the
same extent that the Company would be required to perform if no such succession had taken place. 
 (e) The Company and Indemnitee agree
herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree
that Indemnitee may enforce this Agreement by seeking injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance,
Indemnitee shall not be precluded from seeking or obtaining any other relief to which Indemnitee may be entitled. The Company and Indemnitee further agree that Indemnitee shall be entitled to such specific performance and injunctive relief,
including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver, a bond or
undertaking may be required of Indemnitee by the court, and the Company hereby waives any such requirement of such a bond or undertaking. 

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 

 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 or advancement of Expenses 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: (i) upon personal delivery to the party to be notified, (ii) 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, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (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: 

Paycor HCM, Inc. 

4811 Montgomery Road 

Cincinnati, OH 45212 

Attention: Chief Legal Officer 

E-mail: AGeene@paycor.com 

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. This Agreement may also be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. 
 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. Usage of
Pronouns. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. 

  
 17 

 21. 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.
Except with respect to any arbitration commenced by Indemnitee pursuant to Section 7 of this Agreement, 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. 

[THE REMAINDER OF THIS PAGE IS
INTENTIONALLY LEFT BLANK.] 

  
 18 

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

			
	PAYCOR HCM, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

	
	INDEMNITEE
	
	   

	Name:
	
	Address:
	   

	   

	   

	   

 SIGNATURE PAGE TO INDEMNIFICATION
AGREEMENTEX-10.8

 Exhibit 10.8 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) by and between Paycor HCM, Inc., a Delaware corporation (the
“Company”), and [•] (“Employee”) is entered into as of the closing of the Company’s initial public offering (the “Effective Date”), and
amends and restates in its entirety that certain Employment Agreement by and between Employee and Paycor, Inc. (“Paycor”), dated as of [•] (the “Prior Agreement”). 

1 Employment and Term. The Company hereby agrees to continue to employ (or have a subsidiary employ) Employee, and
Employee hereby agrees to be employed by the Company (or any such subsidiary), on the terms and subject to the conditions set forth in this Agreement. The parties agree that the term of this Agreement (the “Initial Contract
Term”) shall commence on the Effective Date and shall end on the third anniversary of the Effective Date unless earlier terminated or extended as expressly provided herein. The Agreement will automatically
renew, subject to earlier termination as expressly provided herein, for successive one-year periods (“Additional Contract Terms”), unless either Employee or the Company
give notice of non-renewal (a “Notice of Nonrenewal”) at least 90 days prior to the expiration of the Initial Contract Term or the then-Additional Contract Term (as
applicable). The period of Employee’s employment with the Company pursuant to the terms hereof shall be referred to herein as the “Employment Period.” 

2 Position and Duties. The Company shall employ Employee during the Employment Period as its [•]. Employee
shall report [solely and directly to the Company’s Board of Directors (the “Board”)] [to the Company’s Chief Executive Officer (the “CEO”)]. During the Employment Period, Employee shall have
the responsibilities and duties as those normally associated with such position in companies of a similar nature and stature, as well as such other responsibilities as may, from time to time, be duly authorized or directed by [the Board] [the CEO
and the Company’s Board of Directors (the “Board”)]. During the Employment Period, Employee shall perform faithfully and loyally and to the best of his abilities the duties assigned to him hereunder. Employee shall act
at all times in accordance with what is in the best interests of the Company. During the Employment Period, Employee shall devote his full business time, attention and effort to the affairs of the Company, its parent and subsidiary corporations,
affiliates, successors and assigns and shall not, during the Employment Period, be engaged in any other business activity whether or not such business activity is pursued for gain, profit or other pecuniary advantage, without the prior written
consent of the Board. The foregoing is not intended to restrict Employee’s ability to: (a) engage in charitable, civic or community activities to the extent that such activities do not materially interfere with his duties hereunder;
(b) serve on the board of directors (or similar governing bodies) of a company (other than the Company); provided that, the Board, in its sole discretion, has granted prior written consent (which shall not be reasonably withheld); nor
(c) to enter into passive investments that do not compete in any way with the Company’s business. 

 3 Compensation. Employee acknowledges and agrees that Employee’s
right to compensation under this Agreement shall terminate on the Termination Date (as defined below) except as otherwise provided hereunder. As compensation in full for services to be rendered by Employee hereunder, the Company shall pay to
Employee the following compensation: 
 3.1 Base Salary. During the Employment Period, Employee shall be paid an annual base salary
(the “Base Salary”) of $[•]. Employee’s Base Salary shall be paid to him according to the regular payroll schedule used for employees generally. Employee shall be eligible for base salary increases as
determined by the Compensation Committee of the Board (the “Compensation Committee”). 
 3.2 Bonus. Employee
shall be eligible to earn an annual bonus in an amount equivalent to [•]% of the Base Salary (the “Target Bonus”) in accordance with the Company’s bonus plan applicable to executive officers of the
Company. The actual amount of the bonus payable with respect to a fiscal year (the “Bonus”) shall be determined by the Compensation Committee. The Bonus shall be paid in accordance with the plans, policies and
procedures adopted by the Compensation Committee from time to time, but paid through Paycor’s payroll process. Employee must not have previously given Notice of Termination and must be employed by the Company on the day of the payout to receive
the Bonus. 
 3.3 Long-Term Compensation. Employee shall be eligible to participate in the Company’s long-term incentive
compensation program on the terms and conditions determined by the Compensation Committee and communicated to Employee. 
 3.4
Benefits. During the Employment Period, Employee shall be entitled to participate in the Company’s and its subsidiaries’ employee benefit plans or programs generally available to similarly situated executive employees of the
Company, including the Company’s mobile communication, profit-sharing, retirement, and equity plans; provided that, Employee meets all eligibility requirements under each such plan or program. Employee’s participation in the
employee benefit plans or programs shall be subject to the terms and conditions of said plans or programs, including, without limitation, the Company’s and its subsidiaries’ right to amend, revise, terminate or replace the plans or
programs at any time and without notice to participants. 
 3.5 Expense Reimbursement. During the Employment Period, the Company and
its subsidiaries, as applicable, shall reimburse Employee, in accordance with the Company’s and its subsidiaries’ policies and procedures, for all proper and reasonable expenses incurred by him in the performance of his duties hereunder.

 3.6 Claw Back. Employee acknowledges and agrees that any compensation or benefits paid to Employee by the Company, pursuant to
this Agreement or otherwise, shall be subject to recovery by the Company in accordance with Section 304 of the Sarbanes-Oxley Act of 2002 or any other claw back law or regulation applicable to executives of the Company, if any, as amended from
time to time, and any claw back provisions provided in any equity grant documents or the Company’s equity compensation plan or pursuant to other Company policies. 

4 Termination. 

4.1 Death. Upon the death of Employee, this Agreement shall automatically terminate and all rights of Employee and his heirs, executors
and administrators to compensation and other benefits under this Agreement shall cease, except as provided in Section 5.2. 

  
 2 

 4.2 Disability. The Company may, at its option, terminate this Agreement upon written
notice to Employee if Employee, because of physical or mental incapacity or disability, fails to perform the essential functions of his position for a continuous period of 180 days or any 270 days within any
12-month period (a “Disability”). Upon such termination, all obligations of the Company hereunder shall cease, except as provided in Section 5.2. In the event
of any dispute regarding the existence of Employee’s incapacity or disability hereunder, the matter shall be resolved by the determination of a physician to be selected by the Company. Employee agrees that he will submit to appropriate medical
examinations for purposes of such determination. 
 4.3 Termination by the Company. 

4.3.1 The Company may terminate Employee’s employment hereunder at any time, with or without Cause. For purposes of this
Agreement “Cause” shall mean any one or more of the following: 
 4.3.1.1 any material
failure, refusal, or inability by Employee to perform his duties under this Agreement (other than by reason of Employee’s death or disability) that continues after written notice to Employee that such failure or refusal will result in a
termination of the employment of Employee for Cause; 
 4.3.1.2 any intentional act of fraud or embezzlement by Employee in
connection with his duties or employment hereunder, or the admission or conviction of, or entering of a plea of nolo contendere by, Employee of any felony or any lesser crime involving moral turpitude, fraud, embezzlement or theft; 

4.3.1.3 any gross negligence, willful misconduct or personal dishonesty of Employee resulting, in the good faith determination
of the Company, in a loss to the Company or any of its parent or subsidiary entities, or affiliates or in damage to the reputation of the Company or any of its parent or subsidiary entities, affiliates, successors or assigns; 

4.3.1.4 any material breach by Employee of any of the covenants contained in this Agreement; or 

4.3.1.5 any failure of Employee to comply with Company policies or procedures; provided that, in each case, from
Section 4.3.1.1 through this Section 4.3.1.5, Employee shall have been given written notice from the Company describing in reasonable detail the event or circumstance the Company believes gives
rise to a right to terminate Employee for Cause within 30 days of its initial existence, and Employee shall have 30 days to remedy the condition to the satisfaction of the Company. Employee’s failure to cure such condition(s) within such 30-day period shall result in the termination of Employee for Cause. 
 4.4 By Employee for Good
Reason. During the Employment Period, Employee may terminate his employment at any time for Good Reason. For purposes of this Agreement, “Good Reason” shall mean a termination by Employee for any one or more
of the following without Employee’s prior written consent: 
 4.4.1 a reduction in the Base Salary (other than across-the-board reductions affecting similarly situated executives of the Company as reasonably determined necessary by the Board), or failure to pay Employee’s
compensation payable hereunder; 

  
 3 

 4.4.2 a reduction in the percentages described herein with respect to the
Target Bonus; 
 4.4.3 the assignment of additional or reduction of duties or responsibilities to Employee that are
inconsistent in a material and adverse respect with Employee’s position as the [CEO/CFO/CRO] of the Company without the written consent of Employee; or 

4.4.4 the requirement that Employee relocate his principal work location by more than 75 miles from his current principal work
location; provided that, in each case, from Section 4.4.1 through this Section 4.4.4, Employee must (a) first provide written notice to the Company of the existence of the Good Reason
condition within 30 days of its initial existence (specifying the basis for Employee’s belief that he is entitled to terminate this Agreement Good Reason), (b) give the Company an opportunity to cure any of the foregoing within 30 days
following Employee’s delivery to the Company of such written notice, and (c) actually resign his employment within ten days following the expiration of the Company’s 30-day cure period. 

4.5 Notice of Termination. Any termination of Employee’s employment by the Company or by Employee shall be communicated by written
notice to the other party hereto in accordance with Section 15, which notice (the “Notice of Termination”) shall indicate the specific termination provision in this Agreement relied upon and shall
set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Employee’s employment under the provision so indicated. 

4.6 Termination Date. For purposes of this Agreement, Employee’s “Termination Date”
shall mean the date that is earliest of: (a) Employee’s death; (b) if Employee’s termination due to Disability; (c) Employee’s termination by the Company with or without Cause; (d) Employees termination
with or without Good Reason; and (e) the final date of the Initial Contract Term or the final date of the last Additional Contract Term (as applicable) pursuant to a Notice of Nonrenewal. Upon any termination of Employee’s employment for
any reason, except as may otherwise be requested by the Company in writing and agreed upon by Employee in writing, Employee shall immediately and automatically be deemed to resign from and relinquish any and all directorships, committee memberships,
powers of attorney, signature authorizations, and any other positions Employee holds with or on behalf of the Company or any of its subsidiaries and affiliates. 

5 Compensation Upon Termination. 

5.1 Accrued and Unpaid Salary. If Employee’s employment is terminated by reason of (a) Employee’s death or Disability;
(b) Employee’s resignation without Good Reason (including by an Employee Notice of Nonrenewal) or (c) a termination by the Company for Cause, Employee shall be entitled to receive only any accrued and unpaid Base Salary through the
Termination Date. Employee’s participation in the Company’s or its subsidiaries’ employee benefit plans or programs shall cease in accordance with the terms of such plans or programs as then in effect. 

5.2 Severance Payments. If Employee’s employment is terminated by the Company other than for Cause (other than due to
Employee’s death or Disability), or if Employee resigns for Good Reason, so long as Employee (a) fulfills his ongoing obligations hereunder (including, without limitation, the obligations under Sections 7 through 15), and
(b) executes and does not revoke a standard release of claims on a form provided by the Company (the “Release”), Employee shall be entitled to: 

5.2.1 Base Salary continuation on the regular payroll schedule for 12 months following termination (the “Severance
Term”); 

  
 4 

 5.2.2 an amount equal to 50% of Employee’s then Target Bonus, payable
when such bonuses are paid to other senior executives of the Company; and 
 5.2.3 to the extent permissible under the
Company’s or its subsidiaries’ group health plan and subject to Employee’s timely election of continuation coverage under COBRA, continuation during the Severance Term (or if earlier, until the date that Employee becomes eligible to
receive any health benefits as a result of subsequent employment or service during the Severance Term), of health benefits (including premium payments) provided to Employee and Employee’s dependents immediately prior to such termination, at the
same cost applicable to active employees of the Company and its subsidiaries. 
 Under all circumstances, and unless otherwise specifically
set forth herein, all Company and applicable subsidiary provided employee benefits shall cease pursuant to the terms of the relevant benefit plans. To the extent that any of the benefits provided under this Section 5.2
constitutes “nonqualified deferred compensation” for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), any payment of any amount or provision of any benefit otherwise
scheduled to occur prior to the 60th day following the Termination Date, but for the condition on executing the Release, shall not be made until the first regularly scheduled payroll date following such 60th day, after which any remaining benefits
shall thereafter be provided to Employee according to the applicable schedule set forth herein. 
 6 Indemnification.
In the event that Employee is made a party or threatened to be made a party to any action or suit brought by a former employer based on Employee’s employment with the Company, the Company shall indemnify and hold harmless Employee
in accordance with the [Indemnification Agreement]. 
 7 Assignment of Inventions. Any invention, improvements,
discoveries, or ideas, (including without limitation inventions, software, and programming), conceived, developed or made by Employee, in whole or in part, during the Employment Period, whether during business hours or otherwise, which relate to the
Company’s business, or which are made using any of the Company’s equipment, facilities, materials, labor, money, time or other resources or which result from any work performed by Employee, or by other employees, representatives or agents
of the Company for the Company, shall be owned by and shall belong exclusively to the Company and shall also be deemed Confidential Information (as defined below) for purposes of this Agreement. Any copyrightable works made by Employee shall be
deemed works made for hire, and all copyrights therein shall belong to the Company. Employee agrees to communicate promptly to the Company any and all such inventions, improvements, discoveries, works, and ideas, and upon request to execute patent
applications, copyright applications and any other legal documents necessary to transfer title therein to the Company, and to assist the Company in any proper manner in obtaining and enforcing such patents, copyrights, and other proprietary rights
at the Company’s expense. 
 8 Confidential Information.  

8.1 Confidentiality. Employee hereby acknowledges and agrees that the Company’s Confidential Information is regarded as valuable
by the Company, is not generally known in the relevant industry, and that the Company has a legitimate right and business need to protect its Confidential Information. Employee acknowledges that keeping the Company’s Confidential Information
confidential is essential to the growth and stability of the Company. Employee therefore agrees to hold such information in strictest confidence and shall not at any time, directly or indirectly, disclose such information to any third party or use
such information other than for the benefit of the Company. Employee shall disclose such information only to employees, representatives, and agents of the Company with a need to know such information. The restrictions set forth in this paragraph
shall apply during the Employment Period and following the termination of employment until the end of time, whether the termination of employment is voluntary or involuntary. 

  
 5 

 8.2 Confidential Information. For purposes of this Agreement,
“Confidential Information” shall mean any information, knowledge, or data with respect to the Company’s business, services, trade secrets, technologies, systems, clients, prospects, and sales, marketing and
service methods, including, but not limited to, discoveries, ideas, concepts, designs, drawings, specifications, equipment, techniques, computer flow charts and programs, computer software (whether owned or licensed by the Company), hardware,
firmware, models, data, documentation, manuals, diagrams, research and development, performance information, know-how, business pricing policies and other internal policies, data systems, methods, systems
documentation, practices, inventions, processes, procedures, formulae, employee lists or resumes, financial information (including financial statements), tax returns, client lists, prospect lists, information relating to past, present or prospective
clients, information belonging to the Company’s clients, personally identifiable information of clients’ employees, salary and benefit information of clients’ employees, market analysis, strategies, plans and projections for future
growth and development, and compilations of information which are not readily available to the general public. Confidential Information includes all software development information, source and object codes, all information stored or maintained in
any computer system or program used or maintained by the Company, all information stored or maintained in any laptop computer or handheld device provided by the Company to Employee, all client files, prospect files, legal contracts, purchase orders,
and all information relating to client or vendor pricing. All of the foregoing information, whether oral, written, memorized, or electronically stored, together with analyses, compilations, studies, notes of conversation, or other documents prepared
for or by the Company or Employee that contain or otherwise reflect Confidential Information, is also included with the term Confidential Information. Confidential Information does not include (a) any information in the public domain; or
(b) any information received unsolicited from a third party under no obligation of secrecy. 
 8.3 Whistleblower Protection.
Notwithstanding the foregoing, nothing in this Agreement or in any other agreement between Employee and the Company or any affiliate thereof shall prohibit or restrict Employee from lawfully: (a) initiating communications directly with,
cooperating with, providing information to, causing information to be provided to, or otherwise assisting in an investigation by, any governmental authority (including the U.S. Securities and Exchange Commission) regarding a possible violation of
any law; (b) responding to any inquiry or legal process directed to Employee from any such governmental authority; (c) testifying, participating or otherwise assisting in any action or proceeding by any such governmental authority relating
to a possible violation of law, and/or pursuant to the Sarbanes-Oxley Act; or (d) making any other disclosures that are protected under the whistleblower provisions of any applicable law. Additionally, pursuant to the federal Defend Trade
Secrets Act of 2016, an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (A) is made (1) in confidence to a federal, state or local government
official, either directly or indirectly, or to an attorney and (2) solely for the purpose of reporting or investigating a suspected violation of law; (B) is made to the individual’s attorney in relation to a lawsuit for retaliation
against the individual for reporting a suspected violation of law; or (C) is made in a complaint or other document filed in a lawsuit or proceeding, if such filing is made under seal. Nothing in this Agreement requires Employee to obtain prior
authorization before engaging in any conduct described in this paragraph, or to notify the Company or any affiliate that Employee has engaged in any such conduct. 

9 Return of Confidential Information. Upon termination of Employee’s employment with the Company for any reason
whatsoever or upon the written request of the Company, Employee shall immediately destroy, delete and/or return to the Company all Confidential Information and all copies, abstracts, handwritten records and electronic records thereof, and Employee
shall certify in writing to the Company that Employee does not retain originals, copies, abstracts, handwritten records or electronic records of any Confidential Information. Employee agrees that retention of any such Confidential Information in
Employee’s memory does not permit Employee to use or disclose such information following Employee’s termination of employment with the Company. 

  
 6 

 10 Ownership Rights. Employee acknowledges and agrees that the Company
shall retain all ownership rights in and to the Confidential Information disclosed by it, and nothing contained in this Agreement or in any disclosure of Confidential Information shall be construed to grant Employee any license or other rights in or
to the Confidential Information. 
 11 Covenant Not to Compete. Employee acknowledges that because of Employee’s
position of trust with the Company, in the course of Employee’s employment with the Company, Employee will be given access to or will become familiar with their trade secrets and with other Confidential Information, and that Employee’s
services have been and shall be of special, unique and extraordinary value to the Company. Therefore, Employee agrees that during Employee’s employment by the Company, Employee will not, either directly or indirectly, without prior written
authorization from the Company, own, manage, operate, control, be employed by, perform services for, consult with, solicit business for, participate in, or be connected with the ownership, management, operation, or control of any business which is
competitive with the business of the Company on Employee’s date of termination (which includes the business of providing technology solutions related to employee engagement, talent management, payroll and benefits administration, workforce
management, and related services). Employee further agrees that for a period of 18 months after Employee is no longer employed by the Company (the “Restriction Period”), throughout the United States and any other jurisdiction
in which the Company is conducting business, or is considering at the Board level to conduct business, as of the Termination Date, Employee shall not, in any capacity, whether individually or jointly, as a partner, employee, consultant, officer,
director, shareholder or in any other capacity, directly or indirectly, own, manage, advise, counsel, assist or engage in the ownership, management or control of, or be employed or engaged by or otherwise affiliated or associated as a consultant,
independent contractor or otherwise, with any other business that provides payroll processing services, payroll tax filing services, time and attendance solutions, human resource and benefit services, applicant tracking systems, or in any similar
business that competes with the Company, and Employee will not assist any third parties to compete with the Company in any way. Notwithstanding the foregoing, Employee may own, directly or indirectly, solely as an investment, securities of any
entity which are traded on any national securities exchange so long as Employee does not, directly or indirectly, own 2% or more of any class of securities of such entity. 

12 Customer and Employee Restrictions. Employee acknowledges that the Company’s customers and employees now or
hereafter employed by the Company are an integral part of the Company’s business, that information relating to such customers and employees are part of the Company’s Confidential Information, and that the loss of such customers and/or
employees will have a substantial adverse effect on the Company’s business. Therefore, Employee agrees as follows: 
 12.1
Customers. During the term of Employee’s employment with the Company and during the Restriction Period, Employee agrees that Employee will not, either directly or indirectly, for any purpose other than for the benefit of the Company,
solicit, provide sales or service to, or otherwise accept business of the type then being conducted by the Company from any person, partnership, corporation, limited liability company, or other entity who: 

12.1.1 is then a customer of the Company or who was a customer of the Company during the
18-month period immediately prior to Employee’s termination of employment with the Company; or 

  
 7 

 12.1.2 is a prospective customer with whom Employee had direct or indirect
contact or about whom Employee has acquired any knowledge during the 18-month period immediately prior to Employee’s termination of employment with the Company. 

In the case of a customer with multiple locations, this section applies to all locations where the Company has provided its product(s) or
service(s) now or in the future. In the case of a prospective customer with multiple locations, this section applies to all locations with which Employee has had contact, or about which Employee has acquired any knowledge. 

Employee further agrees that, during the term of Employee’s employment with the Company and during the Restriction Period, Employee will
not either directly or indirectly, attempt to cause any person, partnership, corporation, limited liability company, or other entity who is then a customer or a prospective customer of the Company or who was a customer of the Company during the 18-month period immediately prior thereto to divert such customer’s business away from the Company to any other person or entity, whether or not the Employee is affiliated with such person or entity. 

12.2 Employees. During the term of Employee’s employment with the Company and during the Restriction Period, Employee agrees that
Employee will not, directly or indirectly, solicit or induce or attempt to solicit or induce any employee or independent contractor of the Company to leave the employ or engagement of the Company to work with the Employee or with any person or
entity with whom Employee is or becomes affiliated, and Employee will not, directly or indirectly, hire or engage any employee or independent contractor of the Company to work for Employee or any entity with whom Employee is or becomes affiliated.

 13 Reasonableness and Modification of Restrictions. Employee further acknowledges and agrees that the provisions set
forth in Sections 11 and 12 are reasonable in scope, duration, and area, and are reasonably necessary to protect the legitimate business interests of the Company, and particularly the Company’s interest in protecting its
Confidential Information, and the restrictive covenants in this Agreement are in addition to, and not in lieu of, any other agreement between Employee and the Company addressing confidentiality,
non-competition and/or non-solicitation. If any provision of Sections 11 or 12 is held to be unenforceable due to the scope, duration, or area of its
application, the parties intend and agree that the court making such determination shall modify such scope, duration, or area, or all of them to what the court considers reasonable, and such provision shall then be enforced in such modified form.

 14 Irreparable Harm. Because of the unique nature of the Company’s business, Employee acknowledges and agrees
that the Company will suffer irreparable harm in the event that Employee fails to comply with any of Employee’s obligations set forth herein and that monetary damages will be inadequate to compensate the Company for Employee’s breach.
Accordingly, Employee agrees that the Company, in addition to any other remedies available to it at law or in equity, will be entitled to temporary, preliminary and permanent injunctive relief to enforce the terms of Sections 11 and
12, without the need to post any bond. Employee further agrees to reimburse the Company for all costs incurred by the Company in any legal proceeding for equitable, monetary, or other relief to enforce or protect its rights under this
Agreement, including, but not limited to, reasonable attorney fees. 
 15 Notices. All notices and other communications
required or permitted hereunder shall be in writing and shall be deemed given when (a) delivered personally or by overnight courier to the following address of the other party hereto (or such other address for such party as shall be specified
by notice given pursuant to this Section 15) or (b) sent by email to the following facsimile number of the other party hereto (or such other facsimile number for such party as shall be specified by notice given
pursuant to this Section 15), with the confirmatory copy delivered by overnight courier to the address of such party pursuant to this Section 15: 

  
 8 

 If to the Company, to: 

Paycor HCM, Inc. 

Attention: Karen L. Crone 

4811 Montgomery Rd. 

Cincinnati, OH 45212 

Email: kcrone@paycor.com 

With a copy to the Company’s Legal Department, at: 

Paycor HCM, Inc. 

Attention Legal Department 

4811 Montgomery Rd. 

Cincinnati, OH 45212 

Email: ageene@paycor.com 

If to Employee, to: 

[•] 

16 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall
not affect the validity, legality or enforceability of any other provision of this Agreement or the validity, legality or enforceability of such provision in any other jurisdiction, but this Agreement shall be reformed, construed and enforced in
such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 
 17 Entire
Agreement. This Agreement constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or between the
parties (including the Prior Agreement), written or oral, which may have related in any manner to the subject matter hereof. 
 18
Successors and Assigns. This Agreement may not be assigned by either party without the written consent of the other party hereto. Except as stated herein, nothing in this Agreement, expressed or implied, is intended to
confer on any person other than the parties and their respective successors and permitted assigns any rights or remedies under or by reason of this Agreement. 

19 Withholding. All amounts payable hereunder will be subject to deduction for all required income, payroll and other
withholdings. 
 20 Governing Law. This Agreement shall be governed by and construed in accordance with the internal
laws of the State of Delaware (regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof) as to all matters, including but not limited to matters of validity, construction, effect, performance and
remedies. Any action, suit or proceeding brought by any party with respect to, or to enforce the terms of, this Agreement, the Prior Agreement, or any prior confidentiality/restrictive covenant agreement shall be brought by such party exclusively in
the courts of the State of Delaware located in Wilmington, Delaware or in the courts of the United States of America for the District of Delaware, and each party, by its execution of this Agreement irrevocably submits to the exclusive jurisdiction
of such courts. The parties waive all rights to a jury trial in connection with actions arising in connection with this Agreement. 

  
 9 

 21 Representations and Warranties. Employee represents, warrants and
agrees that he has all right, power, authority and capacity, and is free to enter into this Agreement; that by doing so, Employee will not violate or interfere with the rights of any other person or entity; and that Employee is not subject to any
contract, understanding or obligation that will or might prevent, interfere or conflict with or impair the performance of this Agreement by Employee. Employee further represents, warrants, and agrees that he will not enter into any agreement or
other obligation while this Agreement is in effect that might conflict or interfere with the operation of this Agreement or his obligations hereunder. Employee agrees to indemnify and hold the Company harmless with respect to any losses,
liabilities, demands, claims, fees, expenses, damages and costs (including attorneys’ fees and costs) resulting from or arising out of any claim or action based upon Employee’s entering into this Agreement. 

22 Waiver. No waiver of any breach of any term of this Agreement shall be construed to be, nor shall be, a waiver of any
breach of this Agreement. No wavier shall be binding unless in writing and signed by the party waiving the breach. No course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or
enforceability of this Agreement. 
 23 Modification. Neither this Agreement nor the provisions contained herein may be
extended, renewed, amended or modified other than by a written agreement executed by Employee and the Company. 
 24
Construction. The rule that a contract is construed against the party drafting the contract is hereby waived, and shall have no applicability in construing this Agreement or the terms hereof. Any headings and captions used herein are
only for convenience and shall not affect the construction or interpretation of this Agreement. 
 25 Legal
Representation. The parties understand that this is a legally binding contract and acknowledge and agree that they have had a reasonable opportunity to consult with legal counsel of their choice prior to execution. 

26 Survival of Obligations. The parties expressly agree that Employee’s obligations set forth in this Agreement, as
well as any other obligations that would naturally survive termination of an employment agreement, shall survive termination of Employee’s employment (whether voluntary or involuntary and whether with or without Cause and whether with or
without Good Reason) and shall also survive the end of the term of this Agreement. 
 27 Counterparts. This Agreement
may be executed in counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same original instrument. A facsimile signature shall be deemed an original signature for purposes of execution
of this Agreement. 
 28 Section 409A and 280G of the Code. Notwithstanding any provision of this Agreement to the
contrary: 
 28.1 All provisions of this Agreement are intended to comply with Section 409A of the Code and the applicable Treasury
regulations and administrative guidance issued thereunder (collectively, “Section 409A”) or an exemption therefrom and shall be construed and administered in accordance with such intent. Any
payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For
purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments to be made under this Agreement upon a termination of Employee’s employment shall only be made if such
termination of employment constitutes a “separation from service” under Section 409A. 

  
 10 

 28.2 To the extent that any right to reimbursement of expenses or payment of any benefit in-kind under this Agreement constitutes nonqualified deferred compensation (within the meaning of Section 409A), (a) any such expense reimbursement shall be made by the Company no later than the last day of
Employee’s taxable year following the taxable year in which such expense was incurred by Employee, (b) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange
for another benefit and (c) the amount of expenses eligible for reimbursement or in-kind benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year; provided that, the foregoing clause shall not be violated with regard to expenses reimbursed under any arrangement covered by
Section 105(b) of the Code solely because such expenses are subject to a limit related to the period in which the arrangement is in effect. 

28.3 If any payment or benefit provided for herein would be subject to additional taxes and interest under Section 409A if
Employee’s receipt of such payment or benefit is not delayed until the earlier of (a) the date of Employee’s death or (b) the date that is six months after the Termination Date (such date, the
“Section 409A Payment Date”), then such payment or benefit shall not be provided to Employee (or Employee’s estate, if applicable) until the Section 409A Payment Date.
Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement are exempt from, or compliant with, Section 409A and in no event shall the Company be liable for all or any portion
of any taxes, penalties, interest or other expenses that may be incurred by Employee on account of non-compliance with Section 409A. 

28.4 If Employee is a “disqualified individual” (as defined in Section 280G(c) of the Code), and the payments and benefits
provided for in this Agreement, together with any other payments and benefits which Employee has the right to receive from the Company or any of its affiliates, would constitute a “parachute payment” (as defined in Section 280G(b)(2)
of the Code), then the payments and benefits provided for in this Agreement shall be either (a) reduced (but not below zero) so that the present value of such total amounts and benefits received by Employee from the Company or any of its
affiliates shall be one dollar ($1.00) less than three times Employee’s “base amount” (as defined in Section 280G(b)(3) of the Code) and so that no portion of such amounts and benefits received by Employee shall be subject to the
excise tax imposed by Section 4999 of the Code or (b) paid in full, whichever produces the better net after-tax position to Employee (taking into account any applicable excise tax under
Section 4999 of the Code and any other applicable taxes). The reduction of payments and benefits hereunder, if applicable, shall be made by reducing, first, payments or benefits to be paid in cash hereunder in the order in which such
payment or benefit would be paid or provided (beginning with such payment or benefit that would be made last in time and continuing, to the extent necessary, through to such payment or benefit that would be made first in time) and, then, reducing
any benefit to be provided in-kind hereunder in a similar order. The determination as to whether any such reduction in the amount of the payments and benefits provided hereunder is necessary
shall be made by the Company in good faith. If a reduced payment or benefit is made or provided and through error or otherwise that payment or benefit, when aggregated with other payments and benefits from the Company or any of its affiliates
used in determining if a “parachute payment” exists, exceeds one dollar ($1.00) less than three times Employee’s base amount, then Employee shall immediately repay such excess to the Company upon notification that an overpayment has
been made. Nothing in this Section 28 shall require any member of the Company to be responsible for, or have any liability or obligation with respect to, Employee’s excise tax liabilities under
Section 4999 of the Code. 
 * * * * * 

Signature Page Follows 

  
 11 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective
Date. 
  

									
	THE COMPANY:	 		 	EMPLOYEE:
					
	By:	 	 	 		 		 	 
		 		 		 		 	[•]
					
	Name:	 	 	 		 		 	
					
	Its:

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