Document:

Exhibit

EXHIBIT 10.2

FEDERAL HOME LOAN BANK OF CHICAGO
PRESIDENT AND EXECUTIVE TEAM
INCENTIVE COMPENSATION PLAN

AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2017

FEDERAL HOME LOAN BANK OF CHICAGO
PRESIDENT AND EXECUTIVE TEAM
INCENTIVE COMPENSATION PLAN

TABLE OF CONTENTS

		
	I.
	PURPOSE    1

		
	II.
	DEFINITIONS    1

		
	III.
	ADMINISTRATION    5

		
	IV.
	ELIGIBILITY    6

		
	V.
	AWARDS AND EXTRAORDINARY EVENT ADDITIONS AND REDUCTIONS    7

		
	VI.
	BENEFITS    10

		
	VII.
	DESIGNATION OF BENEFICIARY    11

		
	VIII.
	AMENDMENT OR TERMINATION OF PLAN    11

		
	IX.
	LIMITED RESTRICTIONS ON SETTING ASIDE OR RESERVING ASSETS    13

		
	X.
	GENERAL PROVISIONS    13

FEDERAL HOME LOAN BANK OF CHICAGO
PRESIDENT AND EXECUTIVE TEAM
INCENTIVE COMPENSATION PLAN

AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2017

		
	I.
	PURPOSE

The Federal Home Loan Bank of Chicago President and Executive Team Incentive Compensation Plan (the “Plan”) is a cash-based annual incentive plan with a long-term deferral component established to provide incentive award opportunities related to the achievement of Bank-wide and individual performance objectives by eligible Participants (hereinafter defined).  The Plan is intended to recognize Participants for their sustained efforts, decisions, innovation, and discipline that significantly contribute to the attainment of long-term goals of the Federal Home Loan Bank of Chicago (“Bank”), and to enhance the retention of such employees by providing such employees with a competitive compensation opportunity which aligns their interests with those of the Bank's members.  

Subject to the conditions described in this Plan, an approved award is paid in cash shortly after the close of the Plan Year to which the performance incentive relates.  A portion of the incentive award is deferred for three years after the end of the Plan Year to which the incentive relates, and the final value of the deferred portion of the award is determined using separate performance measures over the three-year Deferred Performance Period (hereinafter defined).

		
	II.
	DEFINITIONS

2.1    The following terms shall have the meanings stated below unless the context clearly indicates otherwise.

		
	(a)
	“Annual Award” has the meaning given to such term in Section 5.3.

		
	(b)
	“Annual Performance Period” shall mean the calendar year during which Bank performance is measured to determine the amount of the Annual Award for a Participant.  

		
	(c)
	“Board” shall mean the Board of Directors of the Bank.

		
	(d)
	“Cause” shall mean any of the following activities by the Participant:  (i) the conviction of the Participant for a felony, or a crime involving moral turpitude; (ii) the commission of any act involving dishonesty, disloyalty, or fraud with respect to the Bank or any of its members; (iii) willful and continued failure to perform material duties which are reasonably directed by the Board; (iv) gross negligence or willful misconduct with respect to the Bank or any of its members; (v) any violation of Bank policies regarding sexual harassment, discrimination, substance abuse, or the Bank’s Code of Ethics to the extent such acts would 

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provide grounds for a termination for cause with respect to other employees; or (vi) a material breach by the Participant of a material provision of this Plan or any agreement with the Bank.  No act or failure to act on the part of the Participant shall be considered “willful” unless it is done, or omitted to be done, by the Participant in bad faith or without reasonable belief that his action or omission was in the best interests of the Bank.

		
	(e)
	“Change of Control” of the Bank shall mean the occurrence at any time of any of the following events:

		
	(1)
	any person, or more than one person acting as a “group” (as defined in section 1.409A-3(i)(5) of the Regulations), acquires ownership of equity securities of the Bank that, together with equity securities held by such person or group, constitutes more than 50% of the total voting power of the equity securities of the Bank; provided, however, that if any person or group is considered to own more than 50% of the total voting power of the equity securities of the Bank, the acquisition of additional equity securities by the same person or group will not be considered a Change of Control under this Agreement.  An increase in the percentage of equity securities of the Bank owned by any person or group as a result of a transaction in which the Bank acquires its own equity securities in exchange for property will be treated as an acquisition of equity securities of the Bank for purposes of this paragraph; or  

		
	(2)
	during any period of twelve (12) consecutive months, individuals who, at the beginning of such period, constituted the Board (together with (a) any new or replacement directors whose election by the Board, or (b) whose nomination for election by the Bank’s shareholders was approved by a vote of at least a majority of the directors then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the directors then in office; or

		
	(3)
	the Bank sells or transfers 95% or more of its business and/or assets to another bank or other entity.

		
	(f)
	“Code” shall mean the Internal Revenue Code of 1986, as amended, and all Regulations and pronouncements issued thereunder.

		
	(g)
	“Committee” shall mean the Human Resources and Compensation Committee of the Board.

		
	(h)
	“Deferred Performance Period” means the three-year period over which a portion of the Incentive Award for a Participant is mandatorily withheld and over which Bank performance is measured to determine the amount of the Deferred Award for that Participant.  A Deferred Performance Period begins on the January 1 immediately following the related Annual Performance Period.

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	(i)
	“Deferred Award” has the meaning given to that term in Section 5.3.

		
	(j)
	“Disability” shall mean a Participant: (1) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or (2) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Bank.

		
	(k)
	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended and all Regulations and pronouncements issued thereunder.

		
	(l)
	“Extraordinary Events” means those events that, in the opinion and discretion of the Board, are outside the significant influence of a Participant or the Bank and are likely to have a significant unanticipated effect, whether positive or negative, on the Bank’s operations and/or financial results.  Examples of Extraordinary Events include, but are not limited to, change in law, regulation, or regulatory policy, or systemic macroeconomic events outside of management’s control, significant growth or consolidation of the membership base, or other factors that impact the Bank or the Federal Home Loan Bank System.

		
	(m)
	“FHFA” means the Federal Housing Finance Agency.

		
	(n)
	“Good Reason” shall mean either of the following:

		
	(1)
	a material reduction by the Bank in the Participant’s base salary, unless such reduction: (i) is associated with a “General Reduction” in compensation among employees in the same job grade or employees who are similarly situated and such reduction is in response to adverse or declining economic conditions; and (ii) does not exceed 5% of the Participant’s base salary amount in effect at the time of the reduction; or

		
	(2)
	the relocation of the Participant’s principal office assignment to a location more than fifty (50) miles from its location on the date hereof.

		
	(o)
	“Incentive Award” means, with respect to a Participant for a Performance Period, the total of such Participant’s Annual Award plus Deferred Award. 

		
	(p)
	“Participant” shall mean the Bank’s President and Chief Executive Officer and each member of the Bank’s Executive Team from time to time.

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	(q)
	“Performance Based Compensation” means compensation that is based on services over a period of at least twelve (12) months and which satisfies the requirements for “performance based compensation” as such term is used in Section 409A(a)(4) of the Code.

		
	(r)
	“Performance Requirements” has the meaning given to such term in Section 5.1.

		
	(s)
	“Performance Period” means the period of time over which Bank performance is measured, and is comprised of an Annual Performance Period and a Deferred Performance Period.

		
	(t)
	“Plan Year” means each calendar year with respect to which award opportunities under the Plan are to be calculated.

		
	(u)
	 “Retire, Retires, or Retirement” means a Participant’s Separation from Service after the Participant has: (i) attained age sixty-five (65); or (ii) (1) been employed with the Bank for at least five (5) years, and (2) reached at least age sixty (60).

		
	(v)
	“Separation from Service” shall mean the earliest date on which a Participant has incurred a “separation from service” with the Bank, within the meaning of Section 409A(a)(2) of the Code.  For purposes of the foregoing:  

		
	(1)
	a Participant shall be considered to have incurred a Separation from Service with the Bank if the Participant dies, Retires, or otherwise has a termination of employment with the Bank, and except as otherwise provided in applicable Regulations, the employment relationship shall be treated as continuing intact while the individual is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six (6) months or, if longer, so long as the individual retains a right to reemployment with the Bank under an applicable statute or by contract; and

		
	(2)
	a Participant shall not be deemed to have incurred a termination of employment unless the Participant and the Bank reasonably anticipated that (a)the level of bona fide services the Participant would perform after such date (whether as an employee or as an independent contractor) would permanently decrease to no more than twenty percent (20%) of the average level of bona fide services performed (whether as an employee or as an independent contractor) over the immediately preceding thirty-six (36) month period (or the full period of services to the Bank if the Participant has been providing services to the Bank for less than thirty-six (36) months) of the average level of bona fide services performed (whether as an employee or as an independent contractor) over the immediately preceding twelve (12) month period (or the full period of services to the Bank if the Participant has been providing services to the Bank for less than twelve (12) months).

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	III.
	ADMINISTRATION

3.1    The Plan shall be administered by the Committee.  In addition to any authority granted from time to time to the Committee by the Board, the Committee shall have the authority to: (a) prescribe, amend, and rescind Plan rules, regulations, and procedures consistent with the Plan; (b) approve Performance Requirements and Performance Periods (subject to Board approval); (c) determine from time to time the eligibility of employees of the Bank for participation in the Plan; (d) delegate from time to time the performance of functions in connection with the administration of the Plan to such person or persons as it deems appropriate; and (e) take all other action necessary or appropriate for the administration of the Plan.  All such actions by the Committee shall also be consistent with the terms and provisions of the Plan.

3.2    The Committee shall operate and administer the Plan, for purposes of applying the provisions of Section 409A of the Code, by adhering to the following rules:

		
	(a)
	Separate Payments.  Each separately identified amount to which the Participant is entitled under the Plan shall be treated as a “separate payment.”  

		
	(b)
	Right to a Series of Separate Payments.  To the extent permissible under Section 409A of the Code, any series of installment payments under the Plan shall be treated as a “right to a series of separate payments.”

		
	(c)
	Short-Term Deferral Exception.  Unless otherwise required to comply with Section 409A of the Code, a payment shall not be treated as a “deferral of compensation” (as such term is described in §1.409A-1(b) of the Regulations) if the Participant actually or constructively receives such payment no later than within two and one-half (21⁄2) months after the end of the later of the taxable year of the Participant or Bank in which the payment is no longer subject to a “substantial risk of forfeiture” (as such term is described in §1.409A-1(d) of the Regulations).

		
	(d)
	Separation Pay Exception.  Unless otherwise required to comply with Section 409A of the Code, a payment shall not be treated as a “deferral of compensation” (as such term is described in §1.409A-1(b) of the Regulations) if such payment satisfies the following requirements:

		
	(1)
	the payment is being paid or provided due to the Separation from Service of the Participant, provided, however, the Separation from Service was due to “involuntary termination” of the Participant by the Bank;

		
	(2)
	the payment being paid or provided does not exceed two (2) times the lesser of: 

		
	(A)
	the Participant’s annualized compensation from the Bank for the calendar year in which the involuntary termination of the 

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Participant’s employment occurs; and

		
	(B)
	the maximum dollar amount that may be taken into consideration under a qualified plan pursuant to Section 401(a)(17) of the Code for the calendar year in which the involuntary termination of the Participant’s employment occurs; and

		
	(3)
	the payment is required under the Plan to be paid no later than the last day of the second calendar year following the calendar year in which the involuntary termination of the Participant’s employment occurs.

		
	IV.
	ELIGIBILITY

4.1    Participants.  Participants in the Plan for each Performance Period shall be the President and Chief Executive Officer (the “President”) and all members of the Bank’s Executive Team.  Participants will not include the Bank’s Chief Audit Executive, who participates in a separate incentive compensation plan. 

4.2    Committee Determinations.  The eligibility of any Participant for any Performance Period is at all times determined in the sole discretion of the Committee and may be subject to such restrictions as the Committee may, in its sole discretion, from time to time determine.  Restrictions on one Participant's eligibility need not be applicable or the same as restrictions applicable to any other Participant's eligibility.  Any Participant may be removed as an active Participant by the Committee effective as of any date.

4.3    Interim Hires.  Employees who are hired into an eligible position by August 31 of an Annual Performance Period shall be eligible for participation in the Plan and shall be eligible to receive a prorated Incentive Award based on the number of full months of employment completed in the Annual Performance Period.  Employees who are hired into an eligible position on or after September 1 of an Annual Performance Period will only be eligible to participate in the Plan for that Performance Period Incentive Award if specifically nominated by the President and shall receive a prorated Incentive Award.

		
	V.
	AWARDS AND EXTRAORDINARY EVENT ADDITIONS AND REDUCTIONS

5.1    Performance Requirements.  As of the beginning of each Performance Period, the Committee, with the approval of the Board for the President, shall establish the performance criteria, performance standards, performance targets, and target values (collectively, the “Performance Requirements”) consistent with the purposes of the Plan, as determined in the sole discretion of the Committee and the Board, for each Annual Performance Period and Deferred Performance Period, as set forth in such worksheets and tables approved by the Committee, and such worksheets and tables shall be deemed to be an integral part of this Plan.

		
	(a)
	Establishment of Performance Requirements.  Performance Requirements for the Performance Period will be communicated to Participants by the Bank's Human Resources Department as soon as practicable following the beginning of a 

6

Performance Period.  The communication shall indicate for that Performance Period: (i) the Performance Requirements applicable to each performance category for such Performance Period; and (ii) such other information as may be relevant to such Performance Period.  The Committee, with the approval of the Board, shall have the discretion to specify any rules or provisions that may be applicable to any Participant or Performance Period.  The Committee may, from time to time thereafter, make appropriate adjustments in Performance Requirements to reflect an Extraordinary Event or other major unforeseen transactions, events, or circumstances which, in the Committee’s opinion, alter or affect such requirements or the basis or assumptions upon which such requirements were determined.

		
	(b)
	Considerations in Establishing Performance Requirements.  In determining appropriate Performance Requirements and the relative weight to be accorded to each Performance Requirement, the Committee shall:

		
	(1)
	Balance risk and financial results in a manner that does not encourage Participants to expose the Bank to imprudent risks;

		
	(2)
	Make such determination in a manner designed to ensure that Participants’ overall compensation is balanced and not excessive in amount and that the Annual Awards and Deferred Awards are consistent with the Bank’s policies and procedures regarding such compensation arrangements; and

		
	(3)
	Monitor the outcomes against Performance Requirements and weighting established in prior years, alone and in combination with other incentive compensation awarded to the same Participants, and make appropriate adjustments in future calendar years as needed so that payments are paid in accordance with long term outcomes versus risk.

5.2    Awards.  For each Performance Period, the Committee will approve award payments for eligible Participants other than the President, whose award payments will be approved by the Board.  Each Incentive Award will be equal to a percentage of the Participant’s annual base salary.  A Participant who is transferred, promoted, or demoted during a Performance Period may receive a prorated Incentive Award based on the actual months worked in each position during the Performance Period.

5.3    Earning of Annual and Deferred Awards; Conditions Affecting Final Incentive Award Determinations.  

		
	(a)
	Basic Determinations of Incentive Awards.  

		
	(1)
	As soon as practicable after the end of the Annual Performance Period, the Committee shall determine the extent to which the achievement of the Performance Requirements for that period were achieved to determine the Participant’s Incentive Award.  Fifty percent of an Incentive Award will become earned on the last day of the Annual Performance Period and be 

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paid as an “Annual Award.”  The remaining fifty percent of the Incentive Award will be withheld for the Deferred Performance Period and be paid as a “Deferred Award.”  Payment of Incentive Awards will be made in accordance with Section VI.  

		
	(2)
	During the Annual Performance Period any Incentive Award may be reduced pro rata in the event that a Participant is absent from the Bank (other than for regular vacation) during a Performance Period whether through approved leave or otherwise, Disability, leave under the Family and Medical Leave Act, a personal leave of absence, or military leave.  

		
	(3)
	In calculating Incentive Awards, the Committee may interpolate, in their discretion, achievement levels that fall between threshold, target, and maximum Performance Requirements.

		
	(b)
	Conditions Affecting Final Incentive Award Determinations.  Notwithstanding Section 5.3(a), the Committee may, in its discretion, modify an Incentive Award, Annual Award, and/or Deferred Award for any Plan Year or Deferred Performance Period for all Participants or for an individual Participant, as applicable, under any of the following circumstances:

		
	(1)
	Reduce or eliminate an Incentive Award, Annual Award, and/or Deferred Incentive Award if the Bank receives a composite “4” or “5” rating (or the equivalent in any successor rating system)  in its FHFA examination in any calendar year in a particular Performance Period;

		
	(2)
	A Deferred Award is subject to change throughout the Deferred Performance Period based on the Bank’s performance and/or the occurrence of an Extraordinary Event over the Deferred Performance Period.

		
	(3)
	Reduce or eliminate an Incentive Award, Annual Award, or Deferred Award if the Board determines that a material safety and soundness problem, or a material risk management deficiency, exists at the Bank; or if (A) operational errors or omissions result in material revisions to the Bank’s financial results, information submitted to the FHFA, or to data used to determine Incentive Awards; (B) submission of material information to the Securities and Exchange Commission, the Office of Finance, or the FHFA is materially beyond any deadline or applicable grace period (other than as a result of events beyond the reasonable control of the Bank); or (C) the Bank fails to make sufficient progress, as determined by the Board, in the timely remediation of significant examination, monitoring, or other supervisory findings requiring attention;

		
	(4)
	The Deferred Award may be reduced for each year during the Deferred Performance Period in which the Bank has negative net income;

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	(5)
	With respect to individual Participants only, the Committee, in its discretion, may increase a Participant’s Incentive Award, Annual Award, or Deferred Award to account for a Participant’s performance that is not captured in the Performance Requirements applicable to the Participant; or

		
	(6)
	With respect to individual Participants only, the Committee, in its discretion, may reduce or eliminate a Participant’s Incentive Award, Annual Award, and/or Deferred Award under any of the following circumstances:  (A) the Participant’s job performance is rated less than “Meets Expectations,” either during a Performance Period or at the scheduled time of an Incentive Award payment; (B) the Participant becomes subject to any disciplinary action at the scheduled time of an Incentive Award payment; or (C) the Participant fails to comply with regulatory requirements or standards, internal control standards, the standards of his or her profession, any internal Bank standard, or fails to perform responsibilities assigned to the Participant.

		
	(c)
	President’s Employment Contract.  Notwithstanding the foregoing, payment to the President of any Incentive Award determined to be payable under this Plan shall be subject to the satisfaction of any conditions precedent to such payment that may be contained in any employment agreement between the President and the Bank, if applicable.  

		
	(d)
	Performance-Based Compensation.  Further, notwithstanding any provision in this Article V to the contrary, the Committee shall take all reasonable actions to qualify compensation that will be paid upon the satisfaction of Performance Requirements as Performance-Based Compensation.  

Notwithstanding any other provision hereof, and except as provided below: (a) for Performance Periods beginning before January 1, 2016, a Participant shall receive a Deferred Award as calculated pursuant to Section 5.3 as long as the Participant has not been terminated for Cause prior to the payment; in the event the Participant is terminated for Cause the award shall be forfeited; and (b) for Performance Periods beginning after December 31, 2015, if a Participant is actively employed by the Bank at the end of the Annual Performance Period his Incentive Award shall be calculated pursuant to Section 5.3.

For Performance Periods beginning after December 31, 2015, if a Participant dies, becomes Disabled, Retires, terminates employment for Good Reason, or a Change of Control occurs prior to the Participant’s Separation from Service, he shall be eligible to receive, unless the Participant participated in activities constituting Cause, (a) an Incentive Award multiplied by a fraction, the numerator of which is the number of full months the Participant was employed by the Bank during the Annual Performance Period (excluding any period of Disability in excess of three months), and the denominator of which is twelve (12), each as calculated pursuant to Section 5.3, and (b) all Deferred Awards as calculated pursuant to Section 5.3.  Payment of Incentive Awards will be made in accordance with Section VI.  

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Pursuant to Article III, in the event of a Change of Control, the Committee, in its sole discretion and subject to Board approval, may make such adjustments and changes to the Performance Requirements and Performance Period as it may deem appropriate in the circumstances.

		
	VI.
	BENEFITS

		
	(a)
	Benefit Value. The benefits to a Participant under the Plan will be the amount determined by multiplying the Participant’s base salary in effect on the last day of the Annual Performance Period or the last day of the Participant’s employment, as the case may be, by the multiplier determined in accordance with the Performance Requirements based upon the achievement of the Performance Requirements as established and determined by the Committee; provided, however, that notwithstanding that the Committee has made a determination that the Performance Requirements for a Performance Period have been achieved, the Committee, in its sole discretion, shall determine whether an award shall be made to Plan Participants for such Performance Period, without the consent of any Participant.  The Committee also may, to the extent it deems appropriate in its sole discretion, which shall be conclusive and binding upon all parties concerned, make awards or adjust awards, including making no awards, to compensate for or reflect any Extraordinary Event or other significant changes which may have occurred during the Performance Period which alter the basis upon which the Performance Requirements were determined, or otherwise.  Immediately following the completion of the Performance Period and the determination of the award benefit by the Committee, each eligible Participant will receive such benefit in accordance with the rules in Article V.

		
	(b)
	Time of Payment.  Except as otherwise provided for herein, payments due hereunder will be made within two and one-half (21⁄2) months following the end of a Performance Period.

		
	(c)
	Form of Payment.  A Participant will receive a distribution from the Plan in the form of a lump sum.  The Committee may prescribe such rules as it deems necessary regarding the payment of benefits.

		
	(d)
	Payment Deferral.  Notwithstanding the foregoing, a Participant may elect to defer the receipt of all or any amount of any Incentive Award under the Plan and to have such amount credited to an account under and paid according to the terms of the Federal Home Loan Bank of Chicago Post 2004 Benefit Equalization Plan.  Election of such deferral must be made pursuant to the Benefit Equalization Plan Deferral Election Form provided to Participants by the Bank with respect to such Incentive Award and shall be made prior to the commencement of the Performance Period to which the election applies.

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	VII.
	DESIGNATION OF BENEFICIARY

In the event of the death of a Participant, all benefits to which that Participant is entitled, but which are unpaid at the time of his death, shall be paid to the beneficiary or beneficiaries of that Participant who are designated in writing by the Participant on a form provided by, filed with, and accepted by the Bank, or in the absence of any such designation, to the beneficiary or beneficiaries of that Participant who are entitled to receive the benefits of that Participant which are payable under the qualified defined benefit pension plan sponsored by the Bank or its successor plan.

		
	VIII.
	AMENDMENT OR TERMINATION OF PLAN

The Bank may terminate, amend, or modify this Plan at any time and from time to time; provided, however, any such termination, amendment, or modification may not divest any Participant of any of his benefits under this Plan to which the Participant is entitled as of the date of such termination, amendment, or modification.

		
	(a)
	General Rule.  The Bank reserves the right to terminate or amend this Plan at any time and from time to time; provided, however, that except as otherwise provided in Section (b) of this Article VII, no termination or amendment of the Plan shall accelerate the payment of benefits under the Plan in violation of Section 409A of the Code.  To the extent that the Committee does not accelerate the timing of distributions on account of the Plan termination, payment of any remaining benefits under the Plan shall be made at the same time and in the same form as such distribution would have been made based upon the most recent effective election made by the Participant as in effect at the time of the Plan termination.

		
	(b)
	Terminations and Liquidations Subject to Certain Conditions.  To the extent otherwise permitted by Section 409A of the Code and the Regulations thereunder, the Bank may terminate and liquidate the Plan if the following requirements are met:

		
	(1)
	the termination and liquidation does not occur proximate to a downturn in the financial health of the Bank;

		
	(2)
	the Bank terminates and liquidates all plans, agreements, methods, programs and other arrangements sponsored by the Bank that would be aggregated with any terminated and liquidated plans, agreements, methods, programs, and other arrangements under §1.409A-1(c) of the Regulations if the Participant had deferrals of compensation under such plans, agreements, methods, programs, and other arrangements;

		
	(3)
	no payments in liquidation of the Plan are made within twelve months (12) of the date the Bank takes all necessary action to irrevocably terminate and liquidate the Plan, other than payments that would be payable under the terms of the Plan if the action to terminate and liquidate the Plan had not 

11

been taken;

		
	(4)
	all payments are made within twenty-four (24) months of the date the Bank takes all necessary action to irrevocably terminate and liquidate the Plan; and

		
	(5)
	the Bank does not adopt a new plan that would be aggregated with any terminated and liquidated plan under applicable Treasury Regulations if the same Participant was an employee in both plans, at any time within three (3) years following the date the Bank takes all necessary action to irrevocably terminate and liquidate the Plan.

		
	(c)
	Compliance with Code Section 409A.  This Plan shall be construed in a manner consistent with the applicable requirements of Section 409A of the Code, and the Committee, in its sole discretion and without the consent of any Participant or beneficiary, may amend the provisions of the Plan if and to the extent that the Committee determines that such amendment is necessary or appropriate to comply with the applicable requirements of Section 409A of the Code. 

		
	IX.
	LIMITED RESTRICTIONS ON SETTING ASIDE OR RESERVING ASSETS

Notwithstanding the foregoing provisions in this Plan to the contrary, if the Participant is an “applicable covered employee” (defined below), then no amounts or benefits due a Participant shall be transferred to a trust or otherwise set aside or reserved pursuant to any other arrangement during any “restricted period” (defined below) with respect to the qualified defined benefit plan sponsored by the Bank or its successor plan.  For these purposes:

		
	(a)
	Restricted Period.  The term “restricted period” means (1) any period during which the qualified defined benefit plan sponsored by the Bank or its successor plan is in “at-risk status” (as defined in Section 430(i) of the Code), (2) any period in which the sponsor of the qualified defined benefit plan is a debtor in a case under Title 11, United States Code, or similar Federal or State law, and (3) the twelve (12) month period beginning on the date which is six (6) months before the termination date of the qualified defined benefit plan if, as of the termination date, the assets of the qualified defined benefit plan are not sufficient to pay all benefit liabilities (within the meaning of Section 4041 of ERISA) under the qualified defined benefit plan; 

		
	(b)
	Applicable Covered Participant.  The term “applicable covered participant” means any (1) covered participant of the sponsor of the qualified defined benefit plan, (2) covered participant of any member of a controlled group that includes the sponsor of the qualified defined benefit plan, and (3) former employee who was a covered employee at the time of termination of employment with the sponsor of the qualified defined benefit plan or any member of a controlled group that includes the plan sponsor; and

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	(c)
	Covered Participant.  The term “covered participant” means an individual described in Section 162(m)(3) of the Code or an individual subject to the requirements of Section 16(a) of the Securities Exchange Act of 1934.

		
	X.
	GENERAL PROVISIONS

		
	(a)
	No Right of Continued Employment.  Nothing contained in the Plan shall give any Participant the right to be retained in the employment of the Bank or affect the right of the Bank to dismiss any Participant.

		
	(b)
	No Right to Continued Participation or Payments.  The participation in this Plan by a Participant for a particular Performance Period shall not guarantee a Participant the right to participate in the Plan in any subsequent Performance Periods.  The payment of any Plan benefits for any Performance Period shall not guarantee a Participant the right to receive any such award or benefits for any subsequent Performance Period.

		
	(c)
	No Right of Transfer.  The interests of persons entitled to benefits under the Plan are not subject to their debts or other obligations and, except for tax withholding requirements or as otherwise specifically provided herein, may not be voluntarily or involuntarily sold, transferred, alienated, assigned, or encumbered.

		
	(d)
	Withholding for Taxes.  The Bank shall have the right to deduct from all amounts paid under this Plan any taxes required by federal, state, or local law to be withheld with respect to such payments.

		
	(e)
	Special Compensation. Except as otherwise provided by law, benefits received under the Plan shall not be included or taken into account in determining benefits under pension, retirement, profit sharing, group insurance, or any other benefit plan maintained by the Bank, unless so provided in such plan.  Neither the Bank nor the Committee guarantee in any way the deferral of tax liability if a Participant defers the payment of Plan benefits.

		
	(f)
	Law to Govern.  All questions pertaining to the construction, regulation, validity, and effect of the provisions of the Plan shall be determined in accordance with applicable Federal law.

		
	(g)
	Funding of Benefits. Benefits payable hereunder to or on account of any Participant shall be paid directly by the Bank from its general assets.  The Bank shall not be required to segregate on its books or otherwise set aside any amount to be used for the payment of benefits under this Plan.

		
	(h)
	Interpretation.  The Committee shall have the sole and complete authority to interpret the provisions of, and decide all disputes arising under, the Plan, which interpretations and decisions shall be final and binding on all parties having any interests arising under or by virtue of the Plan.

13

		
	(i)
	Gender and Number.  Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural shall include the singular, and the singular shall include the plural.

		
	(j)
	Litigation.  If any Participant, former Participant, or beneficiary shall bring a suit or proceeding against the Committee or the Bank, or if any dispute shall arise as to the person or persons to whom payment or delivery of any funds shall be made by the Bank, the costs (including attorneys’ fees) to the Bank of defending the action, where the result is adverse to the complainant, or pursuant to the authorization of the court or other forum in which the suit or proceeding is brought, shall be charged against the Plan benefits of the applicable Participant, former Participant, or beneficiary, and only the excess of such Plan benefits, if any, over the amount of such costs shall be payable by the Bank.

		
	(k)
	Effective Date.  The Plan is amended and restated effective January 1, 2017.   

		
	(l)
	Federal Housing Finance Agency.  This Plan shall be maintained in accordance with and is subject to FHFA regulations and policies.

APPROVED BY THE BOARD OF
DIRECTORS THIS 23rd DAY OF
JANUARY, 2017 

/s/ Laura M. Turnquest
______________________________                    
Its Corporate Secretary

14Exhibit

This Employment Agreement (the “Agreement”) is entered into effective as of September 1, 2016 “Effective Date” by and among GoDaddy.com, LLC (the “Company” or “GoDaddy”), Desert Newco, LLC and Nima Kelly (“Executive”).

Summary of Material Terms

	
			
	Term
	Summary
	Cross-Reference

	Position:
	Executive Vice President and General Counsel
	Section 1

	Reports to:
	The Company's Chief Executive Officer
	Section 1

	Employment Term
	Through December 31, 2021 unless extended
	Section 2

	Annual Salary:
	$500,000
	Section 3(a)

	Annual Target Bonus:   
	60% of annual salary
	Section 3(b)

	Severance:
	•    Any earned but unpaid salary or bonus
•    75% of annual salary
•    Prorated Annual Bonus at target for the year of termination
•    Payment equal cost of health insurance coverage 9 months
	Section 5(b)(iii)

1.Duties and Scope of Employment. Executive will serve as the Company’s Executive Vice President and General Counsel reporting to the Company's Chief Executive Officer, and will perform the duties, consistent with this position, as assigned by Executive’s supervisor or the Company’s Board of Directors (the “Board”).

2.Employment Term.  Subject to the provisions of Section 5, beginning on the Effective Date and, continuing until December 31, 2021, Executive will be employed with the Company on the terms and subject to the conditions set forth in this Agreement; provided, however, that beginning on December 31, 2020 and on each one year anniversary thereafter (each an “Extension Date”), the Employment Term will be automatically extended for an additional one-year period, unless the Company or Executive provides the other party written notice at least 30 calendar days before the Extension Date that the Employment Term will not be extended.

3.Compensation.

(a)    Base Salary.  Company will pay Executive an annual salary of $500,000, as compensation for services (the “Base Salary”).  The Base Salary will be paid according to the Company’s normal payroll practices and subject to the usual and required withholdings.  Executive’s salary may be reviewed and adjusted annually by Executive’s Supervisor or the Board.

(b)    Annual Bonus.  Commencing with the 2016 fiscal year, Executive is eligible to earn a target annual bonus of 60% of Executive’s Base Salary based upon achievement of performance objectives established under the Company’s executive bonus plan by the Board or Compensation Committee of the Board in its sole discretion and payable upon achievement of those applicable objectives, subject to minimum and maximum limits as established by the Company (the “Annual Bonus”).  If a non-individual performance target is lowered for other senior executives, then it will be lowered for Executive as well.  If any Annual Bonus is earned, it will be paid when practicable after the Board determines it has been earned, subject to Executive being employed on the date of payment.  For future years, the Board may modify the structure and performance objectives used for Annual Bonus determinations.

(c)    Equity Compensation. 

(i)    Certain equity awards held by Executive as of the Effective Date are governed by the terms and conditions of the Desert Newco LLC 2011 Unit Incentive Plan (the “Incentive Plan”), the Desert Newco, LLC Unit Option Agreement, and the Management Equity and Unitholders Agreement, (collectively, including the Incentive Plan, the “Desert Newco Equity Documents”).  Equity awards outstanding as of the Effective Date will not have their terms modified by this Agreement and are listed as follows:

•    69,602 options with a per unit exercise price of $2.50
•    44,712  options with a per unit exercise price of $7.402314
•    91,400 options with a per unit exercise price of $7.442314

1

(ii)    Certain equity awards held by Executive as of the Effective Date are governed by the terms and conditions of the GoDaddy Inc. 2015 Equity Incentive Plan, the GoDaddy Inc. Notice of Stock Option Grant and Stock Option Agreement and the GoDaddy Inc. Notice of RSU Grant and RSU Agreement (collectively, the “GoDaddy Equity Documents”, and collectively together with the Desert Newco Equity Documents, the “Equity Documents”).  Equity awards issued pursuant to the GoDaddy Equity Documents that are outstanding as of the Effective Date will not have their terms modified by this Agreement and are listed as follows:

•    53,490 options with an exercise price of $31.28 and 20,781 performance RSUs

(iii)    After the Effective Date, Executive will be granted certain equity awards, which will be governed by the terms and conditions of the GoDaddy Equity Documents:

a)    2016 Equity Awards granted on September 16, 2016 on the following terms:

i)$1.532 million in time and performance-based RSUs. The number of shares subject to such RSUs will be determined by dividing $1.532 million by the closing price of the Company’s Class A common stock on the grant date and rounding up to the nearest whole number evenly divisible by two.  One half of the RSU will have their vesting based solely on service (the time-vesting component) and the remainder of the RSUs will have their vesting based on a combination of service and achievement of performance metrics.  

ii)The time vesting component shall begin to vest on the Effective Date and vest as follows: 25% on the first anniversary date of the grant and then quarterly vesting in equal installments for an additional 3 years.

iii)The vesting of performance-based RSUs shall be determined in 4 equal tranches based on the Company’s achievement of its performance goals for fiscal years 2016, 2017, 2018, and the first 3 quarters of 2019, achievement of which shall be determined solely by the Board or a committee of the Board, provided Executive continues to be a Service Provider under the 2015 Incentive Plan through each such date.

b)    2017 Equity Awards to be granted at the time the Company makes focal award grants in the first quarter of 2017 on the following terms:

i)$1.532 million in time and performance-based RSUs. The number of shares subject to such RSUs will be determined by dividing $1.532 million by the closing price of the Company’s Class A common stock on the grant date and rounding up to the nearest whole number evenly divisible by two.  One half of the RSU will have their vesting based solely on service (the time-vesting component) and the remainder of the RSUs will have their vesting based on a combination of service and achievement of performance metrics.  

ii)The time vesting component shall begin to vest on the grant date and vest as follows: 25% on the first anniversary of the grant date and then quarterly vesting in equal installments for an additional 3 years.

iii)The vesting of performance-based RSUs shall be determined in 3 equal tranches based on the Company’s achievement of its performance goals for fiscal years 2017, 2018, and the first 3 quarters of 2019, achievement of which shall be determined solely by the Board or a committee of the Board, provided Executive continues to be a Service Provider under the 2015 Incentive Plan through each such date.

c)    2018 Equity Awards to be granted at the time the Company makes focal award grants in the first quarter of 2018 on the following terms:

i)$1.532 million in time and performance-based RSUs. The number of shares subject to such RSUs will be determined by dividing $1.532 million by the closing price of the Company’s Class A common stock on the grant date and rounding up to the nearest whole number evenly divisible by two.  One half of the RSU will have their vesting based solely on service (the time-vesting component) and the remainder of the RSUs will have their vesting based on a combination of service and achievement of performance metrics.  

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ii)The time vesting component shall begin to vest on the grant date and vest as follows: 25% on the first anniversary of the grant date and then quarterly vesting in equal installments for an additional 3 years.

iii)The vesting of performance-based RSUs shall be determined in 2 equal tranches based on the Company’s achievement of its performance goals for fiscal year 2018 and the first 3 quarters of 2019, achievement of which shall be determined solely by the Board or a committee of the Board, provided Executive continues to be a Service Provider under the 2015 Incentive Plan through each such date.

d)    If Executive’s employment with the Company ends after December 31, 2019 for a reason other than a termination by the Company for Cause then all unvested equity granted and outstanding under this Section 3(c)(iii) will have its vesting accelerated and will be settled in accordance with the applicable Equity Documents.

4.Employee Benefits. 

(a)    Executive will be entitled to participate in the employee benefit plans, including invention incentive programs, maintained by the Company and generally applicable to senior executives of the Company.  The Company may cancel or change the benefit plans and programs it offers and those changes will not breach this Agreement.

(b)    During Executive’s employment by the Company, Executive will be provided coverage under the Company’s directors’ and officers’ liability insurance policy and form of indemnification agreement as in effect for other senior executives of the Company.

5.Termination of Employment; Severance.

(a)    At-Will Employment.  Executive and the Company agree that Executive’s employment with the Company will be “at-will” employment and may be terminated at any time with or without cause or notice.  Executive understands and agrees this at-will employment relationship will not be modified or amended unless it is done in a writing that complies with Section 10(f) and Section 10(i) and explicitly references this Section 5(a).  Executive’s employment will terminate upon the earlier to occur of (i) a termination by the Company with or without Cause, (ii) Executive’s Disability or death, or (iii) a resignation by Executive with or without Good Reason.

(b)    Terminations of Employment.  Executive’s employment may be terminated under various scenarios addressed in this Section 5(b).  Upon any termination of employment, Executive will receive benefits described in Section 5(b)(i).  Depending on the circumstances of the termination of employment, subject to the conditions in Section 6, Executive may be entitled to a lump sum payment of the amounts listed under one of Section 5(b)(ii), Section 5(b)(iii), or Section 5(b)(iv).  Executive agrees that upon termination of Executive’s employment for any reason, Executive will resign as of the date of such termination and to the extent applicable, from the Board (and any committees thereof), the board of directors (and any committees thereof) of any of the Company’s affiliates and from any other positions Executive holds with the Company or any of its affiliates.

(i)    Termination for Cause or Resignation Other Than for Good Reason. Executive’s employment may be terminated for Cause, effective upon the Company’s delivery to Executive of a Notice of Termination or the Executive may resign. If Executive’s employment is terminated for Cause or Executive resigns other than for Good Reason, Executive will receive:

(1)    Base Salary accrued through the termination date, payable under GoDaddy’s usual payment practices;

(2)    reimbursement within 60 days following submission by Executive to the Company of appropriate supporting documentation for any unreimbursed business expenses properly incurred by Executive prior to the termination date; provided that claims for reimbursement are submitted, under Company policy, to the Company within 90 days following the termination date; and

(3)    any fully vested and non-forfeitable employee benefits to which Executive may be entitled under the Company’s employee benefit plans (other than benefits in the nature of severance pay) (the amounts described in clauses (1) through (3) above are referred to later as the “Accrued Obligations”).

3

(ii)    Termination by Reason of Disability or Death. Executive’s employment may be terminated effective upon the Company’s delivery to Executive of a Notice of Termination if Executive becomes Disabled and will automatically terminate upon Executive’s death.  Upon termination of Executive’s employment for either Disability or death, Executive or Executive’s estate (as the case may be) will receive:

(1)    the Accrued Obligations;

(2)    any earned but unpaid Annual Bonus for a prior year. For the avoidance of doubt, if Executive is terminated after the end of a fiscal year but before annual bonuses are approved and paid to other senior executives in the normal course of business, then Executive will receive an Annual Bonus for the prior fiscal year, the actual amount of which will still be subject to the achievement of any performance targets as established by the Company the achievement of which will be determined by the Company.  Any payment under this Section 5(b)(iii)(2) will be paid no later than one day prior to the date that is 21⁄2 months following the last day of the fiscal year in which such termination occurred; and

(3)    a prorated Annual Bonus amount for the year of termination, if any would have been payable to Executive based on achievement of performance criteria if Executive had remained employed through the full fiscal year in which the termination of employment occurred.  The prorated amount will be calculated based on the number of calendar days employed and any such prorated amount will be paid no later than one day prior to the date that is 21⁄2 months following the last day of the fiscal year in which such termination occurred.

(iii)    Termination Without Cause, Resignation for Good Reason. Executive’s employment may be terminated without Cause effective upon the Company’s delivery to Executive of a Notice of Termination, or by Executive’s resignation for Good Reason effective 30 days following delivery to the Company of Notice of Termination provided such delivery is within 90 days following the occurrence of events that result in Good Reason.  No resignation for Good Reason will be effective unless during the 30-day period following the delivery of the Notice of Termination, the Company has not cured the events that result in Good Reason.  If Executive’s employment is terminated without Cause (other than by reason of death or Disability), or if Executive resigns for Good Reason, Executive will receive:

(1)    the Accrued Obligations;
(2)    any earned but unpaid Annual Bonus for a prior year;
(3)    an amount equal to a prorated amount of the target Annual Bonus for the year of termination; 
(4)    a payment equal to 75% of the annual Base Salary in effect on the termination date; and
(5)    a payment equal to the cost of health insurance coverage under COBRA for 9 months.
 
(c)    Exclusive Remedy.  If a termination of Executive’s employment with the Company occurs, the provisions of this Section 5 are intended to be and are exclusive and in lieu of any other rights or remedies to which Executive or the Company may otherwise be entitled, whether at law, tort or contract, in equity, or under this Agreement.  Executive will be entitled to no severance or other benefits upon termination of employment other than those benefits expressly set forth in this Section 5.

6.Conditions to Receipt of Severance; No Duty to Mitigate.  

(a)    Separation Agreement and Release of Claims.  Executive will not receive severance pay or benefits other than the Accrued Obligations unless (x) Executive signs and does not revoke a separation agreement and release of claims in the form attached as Exhibit A, but with any appropriate reasonable modifications, reflecting changes in applicable law, as is necessary to provide the Company with the protection it would have if the Release was executed as of the date of this Agreement (the “Release”) and (y) such Release becomes effective and irrevocable no later than sixty (60) days following the termination date (such deadline, the “Release Deadline”).  If the Release does not become effective and irrevocable by the Release Deadline, Executive will forfeit any rights to severance or benefits under this Agreement.  All payments will be made upon the effectiveness of the Release but will be delayed until a subsequent calendar year if necessary so their timing does not result in penalty taxation under Section 409A.  Severance payments or benefits will not be paid or provided until the Release becomes effective and irrevocable.  For avoidance of doubt, although Executive’s severance payments and benefits are contractual rights, not “damages,” Executive is not required to seek other employment or otherwise “mitigate damages” as a condition of receiving such payments and benefits.

4

(b)    If any amount or benefit that would constitute non-exempt “deferred compensation” under Internal Revenue Code (“Code”) Section 409A would be payable under this Agreement by reason of Executive’s “separation from service” during a period in which Executive is a “specified employee” (within the meaning of Code Section 409A as determined by the Company), then any payment or benefits will be delayed until the earliest date on which they could be paid or distributed without being subject to penalty taxation under Code Section 409A. 

(c)    Each payment and benefit payable under this Agreement is intended to constitute a separate payment under Treasury Regulations Section 1.409A-2(b)(2).

(d)    Covenants.  Executive’s receipt of any payment or benefits other than Accrued Obligations will be subject to Executive continuing to comply with his/her confidentiality obligations to the Company and Section 9.

7.Definitions.

(a)    Cause means (i) willfully engaging in illegal conduct or gross misconduct that is materially injurious to the Company or any of its Subsidiaries; (ii) conviction of, or entry of a plea of nolo contendere or guilty to, a felony or a crime of moral turpitude; (iii) engaging in fraud, misappropriation, embezzlement or any other act or acts of dishonesty resulting or intended to result directly or indirectly in a gain or personal enrichment to Executive at the expense of the Company or any of its Subsidiaries; (iv) willful material breach of any written policies of the Company or any of its Subsidiaries including any agreement between Executive and the Company (which policy or policies previously was provided to Executive); or (v) willful and continual failure to substantially perform his or her duties with the Company or any of its Subsidiaries (other than a failure resulting from his or her incapacity due to physical or mental illness), which failure has continued for a period of at least 30 days after a written demand for substantial performance is delivered to Executive by the Company or one of its Subsidiaries which specifically identifies the manner in which the Company believes that Executive has not substantially performed Executive’s duties.

(b)    Change in Control means Change in Control as defined in the Desert Newco, LLC 2011 Unit Incentive Plan and the Amended and Restated Limited Liability Company Agreement of Desert Newco, LLC, dated as of December 16, 2011.  

(c)    Disabled means physically or mentally incapacitated and unable for a period of six (6) consecutive months or for an aggregate of nine (9) months in any twenty-four (24) consecutive month period to perform Executive’s duties (such incapacity is a “Disability”).  Any question as to the existence of a Disability will be determined in writing by a qualified independent physician mutually acceptable to Executive and the Company.  If Executive and the Company cannot agree as to a qualified independent physician, each will appoint a physician and those two physicians will select a third physician who will make such determination in writing.  The determination will be final and conclusive for this Agreement.

(d)    Good Reason means (i) a significant reduction of Executive’s duties, position, reporting structure, or responsibilities, relative to Executive’s duties, position, reporting structure or responsibilities as of the Effective Date; (ii) a reduction in Executive’s Base Salary or Annual Bonus as of the Effective Date; (iii) the relocation of Executive’s place of employment to a facility or location more than thirty-five (35) miles from Executive’s current place of employment.   

8.Limitation on Payments; Section 280G.  If any severance or other benefits payable to Executive (i) are “parachute payments” within the meaning of Code Section 280G and (ii) but for this Section 8, would be subject to the “golden parachute” excise tax imposed by Section 4999 of the Code, then Executive’s severance benefits will reduced to a level that will result in no tax under Code Section 4999 unless it would be better economically for Executive receive all of the benefits and pay the excise tax. If a reduction in benefits is necessary for this purpose, then the reduction will occur in the following order (1) reduction of the cash severance payments; (2) cancellation of accelerated vesting of equity awards; and (3) reduction of continued employee benefits.  If the acceleration of vesting of equity award compensation is to be reduced, that acceleration of vesting will be cancelled in the reverse order of the date of grant of Executive’s equity awards.  Any determination required under this Section 8 will be made in writing by an independent professional services firm chosen by the Company immediately prior to a Change of Control and paid for by the Company and that determination will be conclusive and binding upon Executive and the Company for all purposes.  

9.Covenants.  

(a)    Executive has entered into the Company’s confidential information and restrictive covenant agreement attached as Exhibit B (“Restrictive Covenant Agreement”) and agrees that it is still effective.

5

(b)    During the Employment Term and continuing for a period of 1 year after the Executive’s termination date, Executive agrees not to make any public statement that is intended, or may reasonably be expected to harm the reputation, business, prospects or operations of the Parent or any of its subsidiaries (including the Company), any of the investment funds invested in Parent or any affiliated funds (all of the foregoing collectively, the “Company Group”); provided, that the non-disparagement provisions of this Section 9(b) will not apply to any statements that Executive makes in addressing any disparaging statements made by the Company Group or their respective officers and/or its directors regarding Executive or Executive’s performance as an employee of the Company so long as Executive’s statements are truthful. Parent and its subsidiaries (including the Company) shall instruct their respective officers and directors to refrain from making any disparaging statements about Executive for the same period for which Executive is subject to the non-disparagement provisions of this Section 9(b); provided, however, that the non-disparagement provisions will not apply to any statements that Parent or any of its subsidiaries (including the Company) or their respective officers and directors make in addressing any disparaging statements made by Executive regarding the Company Group or its officers and directors so long as such statements are truthful.  Executive, Parent and the Company expressly consider the restrictions contained in this Section 9(b) to be reasonable.
10.Miscellaneous.

(a)    Governing Law.  This Agreement will be governed by and construed in accordance with the laws of the State of Arizona, without regard to conflicts of laws principles thereof.

(b)    Entire Agreement.  This Agreement along with the Offer Letter, Restrictive Covenant Agreement, and the Equity Documents, contains the entire understanding of the parties with respect to Executive’s employment and supersedes any prior agreements or understandings (including verbal agreements) between the parties relating to the subject matter of this agreement. There are no restrictions, agreements, promises, warranties, covenants or undertakings between the parties with respect to the subject matter herein other than those expressly set forth herein. Notwithstanding the foregoing, Executive shall be covered by the Company’s applicable liability insurance policy and its indemnification provisions for actions taken on behalf of the Company during the course of Executive’s employment. This Agreement may not be altered, modified, or amended except by written instrument signed by the parties that references Section 10(b). 

(c)    Severability.  In the event that any one or more of the provisions of this Agreement will be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions of this Agreement will not be affected.

(d)    Assignment.  This Agreement, and all of Executive’s rights and duties under it, are not assignable or delegable by Executive.  Any purported assignment or delegation by Executive will be null and void.  This Agreement may be assigned by the Company to a person or entity which is an affiliate or a successor in interest to substantially all of its business operations.  Upon such assignment, the rights and obligations of the Company hereunder will become the rights and obligations of such affiliate or successor person or entity.

(e)    Successors; Binding Agreement.  This Agreement will inure to the benefit of and be binding upon personal or legal representatives, executors, administrators, successors and heirs.

(f)    Notice.   The notices and all other communications provided for in this Agreement will be deemed to have been duly given when delivered by hand or overnight courier addressed to the addresses set forth below, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address will be effective only upon receipt.

GoDaddy.com, LLC        To most recent address as set forth
14455 North Hayden Road/Suite 219        in Executive’s personnel records
Scottsdale, AZ 85260
Attention: Chief Executive Officer

6

(g)    Executive Representations.  Executive represents to the Company that the execution of this Agreement by Executive and the Company and the performance by Executive of Executive’s duties hereunder will not breach, or otherwise contravene, the terms of any employment agreement or other agreement or policy to which Executive is a party or otherwise bound. Executive acknowledges that Employee has had the opportunity to discuss this matter with and obtain advice from his/her private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement.

(h)    Cooperation.  Subject to the Company’s compliance with Section 9(b) and this Section 10(h), Executive will provide Executive’s reasonable cooperation in connection with any action or proceeding (or any appeal from any action or proceeding) which relates to events occurring during Executive’s employment with the Company or its affiliates.  Executive’s cooperation pursuant to this Section 10(h) will be at no cost to Executive, and if such cooperation occurs after the termination of this Agreement, Company will promptly advance or reimburse all reasonable costs incurred by Executive in connection with such cooperation.  This provision will survive any termination of this Agreement.  The Company will provide reasonable compensation to Executive for any services rendered at the Company's request.

(i)    Amendment; Waiver of Breach.  No amendment of this Agreement will be effective unless it is in writing and signed by both parties.  No waiver of satisfaction of a condition or failure to comply with an obligation under this Agreement will be effective unless it is in writing and signed by the party granting the waiver, and no such waiver will be a waiver of satisfaction of any other condition or failure to comply with any other obligation. To be valid, any document signed by the Company must be signed by the Company’s Chief Executive Officer.

(j)    Counterparts.  This Agreement may be executed in counterparts.  Each counterpart will have the same force and effect as an original and will constitute an effective, binding agreement.

Each party is signing this Agreement on the date set out below its signature.

GoDaddy.com, LLC                    Nima Jacobs Kelly    

/s/ Blake Irving                                                                  /s/ Nima Kelly                                                     
By: Blake Irving
September 20, 2016        September 20, 2016

Desert Newco, LLC (Solely for purposes of Section 9(b) hereof)

/s/ Blake Irving                                                                  September 20, 2016
By: Blake Irving

7

EXHIBIT A
RESTRICTIVE COVENANT AGREEMENT

EXHIBIT B
FORM OF SEPARATION AGREEMENT AND RELEASE
This SEPARATION AGREEMENT AND RELEASE (this “Agreement”) is made, entered into, and effective as of the date set forth below by and between INSERT (“Employee”) and GoDaddy.com, LLC (“GoDaddy” or “Company”), hereinafter collectively referred to as the “Parties”. This Agreement is presented to Employee on TBD, 20XX (the “Presentment Date”).
RECITALS
A.    Employee’s final day of employment with GoDaddy will be effective TBD, 2016 (the “Separation Date”).
B.    Employee, the Company, and Desert NewCo, LLC entered into an employment agreement dated INSERT (the “Employment Agreement”).

C.    Pursuant to the [Desert Newco, LLC 2011 Unit Incentive Plan], as amended and the other Equity Documents (as defined in paragraph 12), Employee has been granted options to purchase a certain number of Class A shares of GoDaddy Inc. subject to either performance-based vesting requirements or time-based vesting requirements. As of the date this Agreement was presented to Employee, certain of the options have already vested and become exercisable pursuant to the Equity Documents, and Employee had the following equity position:

	
			
	 
	Vested Options
	Unvested Options & Performance RSUs

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

D. [This Agreement contains two separate signature pages, the first of which should be signed within 21 days of Employee’s receipt of this Agreement, and the second which should be signed on the Separation Date. The first execution of the Agreement releases any potential claims Employee may have against the Released Parties (as defined below) as of the first signature date. The second execution of the Agreement applies to all potential claims Employee may have against the Released Parties, including those occurring after the first execution of the Agreement. To be entitled to any consideration under this Agreement, both signature pages must be signed at the times described and not revoked.]
E.    The Parties intend to fully, completely, and finally resolve and settle any and all claims, potential claims, disputes, or potential disputes that Employee may have against GoDaddy and the Released Parties (as defined below), whether presently known or unknown, according to the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration of the above recitals and the mutual promises, covenants, obligations, and understandings set forth below, the Parties hereby agree as follows:

1.Wages, Benefits and Accrued Vacation Pay through the Separation Date. In addition to the Separation Consideration described in Paragraph 2 below, but not in consideration of Employee’s promises to abide by all the terms and conditions of this Agreement, the Company will: 
a.    continue to pay Employee’s usual wages through and until the Separation Date, in biweekly installments, on regular Company payroll dates, at Employee’s base pay rate, less the required withholdings and deductions; and
b.    [pay Employee a single lump sum equal to $TBD representing TBD hours of accrued vacation/paid time off, less the required withholdings and deductions; and]

c.    continue Employee’s benefits coverage through the Separation Date.

2.Separation Consideration. In exchange for Employee’s promises to abide by all the terms and conditions of this Agreement, each of which GoDaddy deems to be material to this Agreement, GoDaddy will provide Employee the severance and other benefits promised in Section 5(b)(iii) of the Employment Agreement, subject to the terms and conditions thereof. Without limiting the scope of Section 5(b)(iii) of the Employment Agreement, the Company will: 

a.    [pay Employee a single lump sum equal to $TBD representing the equivalent of the required medical, dental and vision plan COBRA premiums for X months, which shall cover the period of INSERT;]
b.    [pay Employee a single lump sum payment equal to $INSERT, representing XX% of the Employee’s annual base salary in effect on the Separation Date;]
c.    [pay employee a single lump sum payment equal to $TBD representing the prorated amount of the target annual unpaid Management By Objective (“MBO”) for 20XX (collectively with 2(a) and (2b), the “Separation Consideration”).]
3.Timing and other related matters. For the avoidance of doubt, Employee acknowledges and agrees that:
		
	a.
	The Company’s payment of wages [and accrued vacation pay] described in Paragraph 1(a) [and (b)] will be made on the Separation Date.

		
	b.
	The Separation Consideration is in addition to any wages earned prior to the Separation Date.

c.    The Company’s payment of the Separation Consideration will be made as soon as practicable after the Effective Date, as defined in Paragraph 8(e) below.
d.    The payment described in Paragraph 2(c) will be calculated as follows: [(i) 80% will be determined and paid out as if the Company had achieved 100% of the previously approved 20XX MBO targets; and (ii) 20% will be determined and paid out as if the Employee had achieved 100% of his individual goals for 20XX.]
e.    The Separation Consideration will be made less the required federal, state and local tax withholdings and deductions.
f.    For the avoidance of doubt: (i) all other unvested option and RSU grants as of the Separation Date, including those granted on INSERT shall be forfeited in their entirety; and (ii) subject to any earlier termination of post-termination exercise period set out in the Equity Documents, Employee must exercise all INSERT vested options no later than INSERT. 
4.Payment of Salary and Receipt of All Benefits. Employee acknowledges and represents that, other than the Separation Payments and after the payment described in Section 1(b), GoDaddy has paid or provided all salary, wages, bonuses, accrued vacation/paid time off, leave, relocation costs, interest, severance, reimbursable expenses, commissions, stock, stock options, vesting and any and all other benefits and compensation due to Employee. For the avoidance of doubt, other than as set out in Section 1(a), Employee will not vest in any options after the Separation Date. Employee represents that Employee has not suffered any on-the-job injury for which Employee has not already filed a claim.
5.Benefits. Regardless of whether Employee signs this Agreement, Employee’s active participation in all Company benefit plans will terminate effective 11:59 p.m. on his last day of employment and Employee shall remain entitled to any vested benefits in accordance with such plans. A letter informing Employee of Employee’s rights to elect continued health coverage under COBRA will be mailed to the Employee’s home, and generally arrives within 7 business days after the last day of employment.
6.Release.
a.    Employee, in exchange for the Separation Payment, agrees to and hereby releases, waives and forever discharges GoDaddy and its affiliates, parents, successors, subsidiaries, related companies, directors, officers, employees, attorneys and agents (the “Released Parties”) from any and all claims or causes of action, whether known or unknown, that Employee may currently have or Employee’s heirs, executors, administrators and assigns have, had or may have in the future against any of 

the Released Parties with respect to any and all matters arising from Employee’s employment and separation from GoDaddy. This release does not extend to any Employee rights or benefits granted pursuant to (i) Employee’s Employment Agreement that expressly survive the termination of the Employment Agreement, (ii) the Equity Documents (as defined in the Employment Agreement and in Paragraph 12 below) that remain in effect after the termination of Employee’s employment.
b.    Scope of Release. Employee’s release includes, but is not limited to, all allegations, claims, and violations related to severance, elimination of position, resignation, notice of termination, the payment of wages, salary and benefits (except any valid claim to recover vested benefits to which Employee may be entitled, if applicable) and all claims arising under the following, in each case as amended: the Age Discrimination in Employment Act of 1967, as amended by the Older Workers Benefit Protection Act of 1990 (“ADEA”); Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Equal Pay Act of 1963; the Americans with Disabilities Act of 1990, ; the Family and Medical Leave Act of 1993; the Civil Rights Act of 1866; the Worker Adjustment and Retraining Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; all state or local counterparts, including the Arizona Civil Rights Act,  Ariz. Rev. Stat. § 41-1401 et seq.; Arizona Employment Protection Act, Ariz. Rev. Stat. § 23-1501 to 23-1502; Arizona Wage Payment Law, Ariz. Rev. Stat. § 23-350 et seq.; Arizona Equal Wage Law, Ariz. Rev. Stat. § 23-341,California Fair Employment and Housing Act,  Cal. Gov't Code § 12900 et seq.; Unruh Civil Rights Act,  Cal. Civ. Code § 51; Moore-Brown-Roberti Family Rights Act,  Cal. Gov't Code § 12945.1 et seq.; California Pregnancy Disability Leave Law,  Cal. Gov't Code § 12945; the California Constitution; any applicable California Industrial Welfare Commission Wage Order, the Washington State Law Against Discrimination,  Wash. Rev. Code § 49.60.010 et seq.; the Washington Equal Pay Law,  Wash. Rev. Code § 49.12.175; the Washington Sex Discrimination Law, Wash. Rev. Code § 49.12.200; the Washington Age Discrimination Law, Wash. Rev. Code § 49.44.090; the Washington Family Care Act, Wash. Rev. Code §§ 49.12.265 to 49.12.295; the Washington Parental Leave Discrimination Law, Wash. Rev. Code § 49.12.360; the Washington Minimum Wage Act, Wash. Rev. Code § 49.46.005 et seq.; the Washington Wage, Hour, and Working Conditions Law, Wash. Rev. Code §§ 49.12.005 to 49.12.170; the Washington Wage Payment and Collection Law, Wash. Rev. Code § 49.48.010 et seq.
c.    any other federal, state or local statute, constitution or ordinance; any public policy, contract or tort, or under any common law, including wrongful discharge; any practices or procedures of the Company; any claim for breach of contract, infliction of emotional distress, defamation, discrimination;
d.    any and all claims relating to, or arising from, Employee’s right to purchase or actual purchase of shares or stock of GoDaddy, except pursuant to the Equity Documents if applicable, which Employee acknowledges shall govern such equity; 
e.    and any other federal, state or local statutes, laws, regulations or common law causes of action under which any claim may be brought, including those claims arising from Employee’s employment relationship with GoDaddy or the termination of that relationship, and also including any claim for costs, fees or other expenses, including attorneys’ fees and expenses, incurred in these matters (collectively, the “Released Claims”).
f.    Limitations. Employee understands that Employee is not releasing any claim that relates to:  (i) the Separation Payment or the right to enforce this Agreement; (ii) Employee’s right, if any, to claim government-provided unemployment benefits or worker’s compensation benefits, if applicable and Employee qualifies; or (iii) any rights or claims that Employee may have which arise after the date Employee executes this Agreement. Nor does this release apply to any claims that cannot be waived by law. Employee acknowledges that except as expressly provided in this Agreement or in an applicable plan document for any applicable broad-based employee benefit plans other than plans that provide severance or termination pay, Employee will not receive any additional compensation or benefits, including salary, bonus, or separation payments after the Separation Date.
g.    Release of Age Discrimination Claims. Employee acknowledges that Employee is knowingly waiving and releasing any rights Employee may have under the ADEA, which includes age discrimination claims. Employee agrees that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the Effective Date of this Release. Employee acknowledges that the consideration given for this waiver and release is in addition to anything of value to which Employee was already entitled.
h.    [Unknown Claims/California Civil Code Section 1542. Employee acknowledges that he has been advised to consult with legal counsel and is familiar with the provisions of California Civil Code Section 1542, a statute that otherwise prohibits the release of unknown claims, which provides as follows:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.
Employee, being aware of said code section and the principle that a general release does not extend to claims that the releaser does not know or suspect to exist in his/her favor at the time of executing the release, which, if known by him/her, might have materially affected his/her settlement with the releasee, and agrees to expressly waive any rights he may have thereunder, as well as under any other statute or common law principles of similar effect.]
i.    No Monetary Recovery. Employee acknowledges and understands that this Release waives all of Employee’s rights to any monetary recovery against any of the Released Parties for any potential charge, complaint, or lawsuit. Employee agrees that the Separation Payment received under this Agreement fully satisfies any potential claim for relief in connection with any charge, complaint, or lawsuit.
j.    Covenant Not to Sue. Employee acknowledges and understands that this Release prohibits Employee from bringing any lawsuit or cause of action against any of the Released Parties for any claims covered by the Release.
7.Confidentiality.
a.    Employee agrees to keep the existence and terms of this Agreement strictly confidential, including the specific information regarding the Total Consideration in Paragraphs 1 and 2 above. Except as required by law, Employee agrees not to divulge any of the terms of this Agreement to anyone, or permit them to be divulged to anyone, excluding his spouse, attorney, accountant and tax and financial advisor. Employee understands that GoDaddy has relied on Employee’s commitment to preserve the confidentiality of this Agreement in deciding whether to enter into this Agreement. Employee agrees at all times hereafter to hold in the strictest confidence, and not to use or disclose to any person or entity, any Confidential Information of GoDaddy.
b.    Employee understands that “Confidential Information” means any GoDaddy proprietary information, technical data, trade secrets or know-how, including, but not limited to, research, product and/or personalization plans, products, services, customer lists and customers (including, but not limited to, customers of GoDaddy on whom Employee has called or with whom Employee became acquainted during the term of Employee’s employment), markets, software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing, any and all financial and accounting information, employee lists, vendor lists, recruiting information, future planned or contemplated merger and acquisition activity, or other legal or business information disclosed to Employee by GoDaddy either directly or indirectly, in writing, orally, or by drawings or observation. Employee further understands that Confidential Information does not include any of the foregoing items that have become publicly known and made generally available through no wrongful act of Employee’s or of others who were under confidentiality obligations as to the item or items involved or improvements or new versions thereof. Nothing in this Agreement is intended to limit an employee’s rights with respect to any disclosure made in compliance with GoDaddy’s Notice of Immunity under the Defend Trade Secrets Act (as set forth in the Employee Handbook). Employee hereby grants consent to notification by GoDaddy to any new employer about Employee’s obligations under this paragraph. Employee represents that Employee has not to date misused or disclosed Confidential Information to any unauthorized party.
8.Acknowledgments. On each signature date, Employee acknowledges that each of the following statements is true and accurate:
a.    Employee would not have been entitled to receive the Separation  Consideration set forth in Paragraph 2 above had Employee rejected this Agreement and agrees that the Separation Payment is adequate consideration for Employee’s releases and made in this Agreement.
b.    Employee has carefully read this entire Agreement and understands all the terms of this Agreement, including the release provisions set forth in Paragraph 6 above and the Confidentiality provisions set forth in Paragraph 7 above;
c.    Employee has been and hereby is advised to consult with an attorney before signing this Agreement; Employee has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of Employee’s own choice or has elected not to retain legal counsel.

d.    Pursuant to the specific release contained in Paragraph 6(g) above, Employee has up to 21 days from the Presentment Date to consider whether to enter into this Agreement (the “Consideration Period”). If Employee signs this Agreement prior to the expiration of the Consideration Period, Employee hereby acknowledges that Employee has freely and voluntarily chosen to waive any time remaining in the Consideration Period. Employee should deliver a signed copy of this Agreement to GoDaddy, Attn: Nima Kelly, 14455 N. Hayden Rd., Suite 209, Scottsdale, AZ 85260. If Employee does not sign this Agreement by the end of the Consideration Period, Employee understands that this Agreement shall become null and void.
e.    Employee will have 7 days to revoke this Agreement after signing it, and this Agreement shall not become effective or enforceable until this revocation period has expired for the execution of the Agreement on the Separation Date (the 8th day is the “Effective Date” of this Agreement). Any revocation within this 7-day period shall be submitted in writing and mailed to the attention of the Company at the address given in subparagraph (d) of this paragraph and post-marked within 7 days of the date Employee signs this Agreement. If this Agreement is revoked in this way, Employee will forfeit the Total Consideration and the Company shall not be required to provide Employee any of the Total Consideration, or any other such payments.  Unless waived by the Company, the failure to return a signed copy of this agreement within 7 days of the Termination Date, shall be deemed to constitute a rejection of this offer.
f.    Employee understands that this Agreement does not waive any rights or claims that may arise after the Effective Date of this Agreement, and that nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of the waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law.
g.    Employee has not relied on any oral or written statements that are not set forth in this Agreement in determining whether to enter into this Agreement.
h.    Employee executed this Agreement freely, voluntarily, without any duress or undue influence on the part or behalf of the Company or any third party, and with the full intent of releasing all claims against the Company and any of the other Releasees.
9.Non-Liability. This Agreement is not an admission or evidence of fault, wrongdoing or liability by GoDaddy, nor should it be construed as such, but instead reflects the desire of the Parties to resolve the Released Claims fairly and amicably.
10.Non-Disparagement. To the extent that the Employment Agreement contains non-disparagement provisions, the Parties agree to comply with such provisions. If the Employment Agreement does not contain non-disparagement provisions, Employee agrees to refrain from any disparagement, defamation, libel or slander of any of the Released Parties. GoDaddy agrees to inform relevant GoDaddy employees not to make any disparaging statements about the Employee. Employee understands that GoDaddy’s non-disparagement obligations under this paragraph extend only to GoDaddy’s current executive officers and members of its Board of Directors and only for so long as each officer or member is an employee or Director of GoDaddy. The Parties agree that it is in their best interests to maintain an amicable termination and post-termination relationship. Employee agrees to cooperate reasonably with GoDaddy and its counsel in connection with any administrative, judicial, regulatory, or other proceeding arising from any charge, complaint, or other action relating to the period Employee was employed by GoDaddy, or in connection with any transaction or other matter that requires Employee’s personal knowledge or experience to resolve. GoDaddy will provide reasonable compensation to Employee for any services rendered at GoDaddy’s request.
11.Prior Agreements. The Parties acknowledge that they have carefully read this Agreement, have voluntarily entered into it, and understand its contents and its binding legal effect. The Parties further acknowledge and agree that this Agreement represents the entire agreement between them with respect to Employee’s separation from GoDaddy and supersedes any and all other oral or written agreements that may exist between them except:
a.    Employee’s continuing obligations under the Employment Agreement shall remain in full force and effect;
b.    Employee’s continuing obligations under the Employee Non-Compete dated INSERT, shall remain in full force and effect;
c.    Employee’s continuing confidentiality obligations to the Company as outlined in the Company handbook and other policies, shall remain in full force and effect; and

d.     any equity awards granted to Employee under the [2011 Unit Incentive Plan], the Management Equity and Unitholders Agreement, and any other agreements entered into in connection with any grant thereunder (collectively, the “Equity Documents”), shall remain in full force and effect.
If any conflict exists or arises between the terms of this Agreement and any prior agreement referenced in this Paragraph, the terms of this Agreement shall control.
12.Protected Activity Not Prohibited.  Employee understands that nothing in this Agreement shall in any way limit or prohibit Employee from engaging for a lawful purpose in any Protected Activity. For purposes of this Agreement, “Protected Activity” shall mean filing a charge, complaint, or report with, or otherwise communicating, cooperating, or participating in, any investigation or proceeding that may be conducted by any federal, state or local government agency or commission, including the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, and the National Labor Relations Board (“Government Agencies”).  Employee understands that in connection with such Protected Activity, Employee is permitted to disclose documents or other information as permitted by law, and without giving notice to, or receiving authorization from, the Company.  Notwithstanding the foregoing, Employee agrees to take all reasonable precautions to prevent any unauthorized use or disclosure of any information that may constitute Company confidential information to any parties other than the Government Agencies.  Employee further understands that “Protected Activity” does not include the disclosure of any Company attorney-client privileged communications, and that any such disclosure without the Company’s written consent shall constitute a material breach of this Agreement.  
13.Severability. If any court of competent jurisdiction declares any of this Agreement’s provisions to be unenforceable, the remaining provisions shall be enforced as though this Agreement did not contain the unenforceable provision(s), and/or be reformed so as to be enforceable.
14.Section 409A Savings Clause. It is the intention of the Parties that all compensation or benefits payable under this Agreement be exempt from Section 409A of the Internal Revenue Code (“Section 409A”) or comply with Section 409A so that no additional tax under Section 409A is imposed. To the extent such compensation or benefits could be or are found not to be exempt from Section 409A or would have additional tax under Section 409A imposed, the Parties shall cooperate to amend this Agreement to avoid such result, with the goal of giving Employee the economic benefits described herein in a manner that does not result in additional tax or interest being imposed, but without requiring the Company to pay any additional amounts.
15.Governing Law and Forum. This Agreement will be governed by and interpreted in accordance with the substantive law of the State of Arizona as though this was an agreement occurring wholly within Arizona between Arizona residents. Any action or dispute arising out of, or in any way related to, this Agreement, or the interpretation and/or application of this Agreement, must be brought in Maricopa County, Arizona.
16.Jury Trial Waiver. Employee agrees to waive Employee’s right to a trial by jury in any action relating to or arising out of this Agreement, and acknowledges that Employee’s waiver of such a right is knowing and voluntary.
17.Remedies for Breach. A breach of any provision of this Agreement may give rise to a legal action. If Employee breaches any provision of this Agreement, in addition to any other available remedies, GoDaddy may recover the entire amount of the Separation Payment that has actually been made to Employee under this Agreement. The prevailing party in any action based on a breach of this Agreement will be entitled to recover its costs and actual attorneys’ fees incurred in any litigation relating to or arising out of this Agreement.
18.Successors and Assigns. The Parties agree that this Agreement shall inure to the benefit of, and may be enforced by, GoDaddy’s successors, assigns, parents, subsidiaries, and related companies.
19.Return of Company Property. Employee agrees that Employee has returned, or will return within three (3) calendar days of the Separation Date, all GoDaddy property in Employee’s possession, custody, or control.
20.Counterparts. This Agreement may be executed by the Parties in one or more counterparts, including faxed copies. All such fully-executed counterparts shall be treated as originals of this Agreement.

Please read this Agreement carefully, it contains a RELEASE of all known and unknown claims.
Agreed and accepted:
INSERT                         GoDaddy.com, LLC 

________________________________            By: ________________________________
                            
                            
Date:  ______________, _____            Date: ______________, ____

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