Document:

Exhibit
10.1

 

AMENDMENT NUMBER TWO

TO LEASE BETWEEN

FOURTH AVENUE LLC

AND

NEUROMETRIX, INC.

 

THIS AMENDMENT made this June 6, 2012 (this “Amendment”)
between Fourth Avenue LLC, a Massachusetts limited liability company having offices at One Gateway Center, Newton, Massachusetts
(“Landlord”) and NeuroMetrix, Inc., a Massachusetts corporation, with offices located in Waltham, Massachusetts (“Tenant”).

 

WITNESSETH THAT,

 

WHEREAS, by Lease dated October 18, 2000, (as may be amended
from time to time, the “Lease”), Landlord demised and leased to Tenant approximately 30,000 rentable square feet in
Landlord’s single-story office building commonly referred to as 62 Fourth Avenue in Waltham, Massachusetts (the “Building”).

 

WHEREAS, by an Amendment Number One to Lease dated February
1, 2008 (“Amendment Number One”), the Term was extended through March 31, 2013.

 

WHEREAS, the Landlord and Tenant desire to amend the Lease as
follows.

 

NOW THEREFORE, in consideration of the
mutual covenants contained herein, the Landlord and Tenant agree that the Lease shall be and hereby is amended in the following
respects:

 

		1.	All capitalized terms not otherwise modified or defined herein shall have the same meanings as are ascribed to them in the
Lease. All references in the Lease to the “Lease” or “this Lease” or “the Lease” or “herein”
or “hereunder” or similar terms or to any section thereof shall mean the Lease, or such section thereof, as amended
by Amendment Number One and this Amendment.

 

		2.	The definition of the defined term “Term Expiration Date:” in Article 1.0, “REFERENCE DATA”
shall be amended to read as follows:

 

			“March 31, 2014”

 

		3.	With respect to the period of time beginning October 1, 2012 and ending March 31, 2014, the Annual Base Rent shall be in accordance
with the following table:

 

	Period	 	Annual Base
 Rent:	 	 	Monthly
 Installment:	 
	October 1, 2012 through March 31, 2013	 	$	635,004.00	 	 	$	52,917.00	 
	April 1, 2013 through March 31, 2014	 	$	635,004.00	 	 	$	52,917.00	 

 

		4.	The following sentence shall be added at the end of Section 6.2 of the Lease, “Security Deposit.”,

 

			“Notwithstanding anything to the contrary contained in this Lease, any letter of credit provided by Tenant in place of
a cash deposit shall expire no sooner than 60 days following the later to occur of the Term Expiration Date or the date Tenant
has vacated the Premises in accordance with all applicable terms and conditions of the Lease.” Within 30 days of execution
of this Amendment, Tenant shall provide and an amendment to the existing letter of credit or a replacement letter of credit providing
for a final expiration date no sooner than as proved for in the immediately preceding sentence.

 

    	 

    	 

    

 

Page 2

 

		5.	Tenant and Landlord each represent and warrant to each other that, with respect to this Amendment, neither party has directly
or indirectly dealt with any broker other than McPherson Corporation to which Landlord agrees to pay a fee of $36,000.00. Tenant
and Landlord each agree to save harmless and indemnify the other against any claims for a commission or other fee by any other
broker, person or firm with whom the indemnifying party has dealt in connection with this Amendment.

 

		6.	Except as herein amended, all terms, conditions, covenants, agreements and provisions of the Lease shall remain in full force
and effect and are hereby ratified and confirmed.

 

		7.	This Amendment may be executed in multiple counterparts, each of which shall be deemed an original and all of which together
shall constitute one and the same document. Landlord and Tenant each warrant to the other that the person or persons executing
this Amendment on its behalf has or have authority to do so and that such execution has fully obligated and bound such party to
all terms and provisions of this Amendment.

 

IN WITNESS WHEREOF the parties have hereunto set their hands
and seals on the day and year first written above.

 

	FOURTH AVENUE LLC	 	NEUROMETRIX, INC.
	 	 	 	 
	BY: COMMONWEALTH DEVELOPMENT LLC, MANAGER	 	 	 
	 	 	By	/s/ Thomas T. Higgins
	 	 	Name:  	Thomas T. Higgins
	By	/s/ James A. Magliozzi	 	Title:	CFO, duly authorized
	James A. Magliozzi, ManagerExhibit 10.2

 

NEUROMETRIX, INC.

 

Management Retention and Incentive Plan

 

1.          Purpose of the Plan. The purpose
of this Management Retention and Incentive Plan (the “Plan”) is to provide the executive officers and certain
other key employees of NeuroMetrix, Inc., a Delaware corporation (the “Company”), listed on Schedule A
hereto (the “Participants,” and each, a “Participant”) with consideration in the event of
a Change of Control Transaction (as defined below) involving the Company and another entity (the “Successor Company”)
based on the allocations listed on Schedule A hereto and as such allocations may be adjusted pursuant to Section 7 hereof (the
“Percentage Interest”). These allocations relate to the Total Consideration (as defined below) to be received
in the Change of Control Transaction by the Company and/or its stockholders. The Plan is designed to retain the Company’s
executive officers and certain key employees while providing an incentive to continue to build corporate value. The Plan has been
structured to work in conjunction with, and not replace, the Company’s other incentive programs such as its equity plans,
severance arrangements, compensation and bonus plan, and other benefits. As described further herein, the consideration to be paid
to each Participant will be reduced over time as a result of any issuances of future equity grants to Participants. The Plan shall
be effective as of August 2, 2012.

 

2.          Definitions. For the purposes
of this Plan, capitalized terms not defined in Section 1 above shall have the following meanings:

 

(a)          Additional Plan Consideration
shall mean, for any Participant, the portions of the Contingent Consideration to be received by the Participant pursuant to the
Plan as calculated pursuant to Section 6 of the Plan.

 

(b)          Board shall mean the Board
of Directors of the Company.

 

(c)          Change of Control Transaction
shall mean the first to occur of the following events:

 

(i)          Ownership
Change through Company Stock Sale or Third Party Tender Offer: any “person” or “group” as such terms
are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934 (the “Act”), becomes a beneficial
owner, as such term is used in Rule 13d-3 promulgated under the Act, of securities of the Company representing more than 50% of
the combined voting power of the outstanding securities of the Company having the right to vote in the election of directors; or

 

(ii)          Merger
Transaction: a merger or consolidation of the Company other than a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving entity or the parent of such corporation) more than fifty percent
(50%) of the total voting power represented by the voting securities of the Company or such surviving entity or parent of such
corporation, as the case may be, outstanding immediately after such merger or consolidation; or

    	 

    	 

    
 

 

(iii)          Sale
of Assets: the sale or disposition by the Company of all or substantially all of the Company’s assets in a transaction
requiring stockholder approval;

 

provided that a Change of Control
Transaction shall be interpreted, in a manner, and limited to the extent necessary, so that it will not cause adverse tax consequences
under Section 409A of the Code.

 

(d)          Code shall mean the Internal
Revenue Code of 1986, as amended including any successor statute, regulation and guidance thereto.

 

(e)          Common Stock shall mean
the common stock, $0.0001 par value per share, of the Company.

 

(f)          Common Stock Equivalents
shall mean rights, options, or other instruments to subscribe for, purchase or otherwise acquire Common Stock pursuant to any equity
plan of the Company.

 

(g)          Contingent Consideration
shall mean the portion of the Total Consideration to be received after the date of the closing of the Change of Control Transaction,
the receipt of which will be contingent upon the passage of time or the occurrence or non-occurrence of some event(s) or circumstance(s),
including, without limitation, amounts of Total Consideration subject to an escrow, a purchase price adjustment, an earn-out, or
indemnity claims.

 

(h)          Equity Financing shall
mean the first offering by the Company of its equity securities occurring after the effective date of the Plan that results in
net proceeds sufficient to finance the Company for at least one year from the date of closing of such offering.

 

(i)          Equity Plan Issuances
shall mean with respect to a Participant any shares of Common Stock issued by the Company pursuant to any equity plan of the Company
and any Common Stock Equivalents issued to a Participant, excluding Founder Shares.

 

(j)          Founder Shares shall mean
any shares of Common Stock of the Company issued to a Participant prior to July 22, 2004.

 

(k)          Initial Consideration
shall mean the amount of the Total Consideration that is not Contingent Consideration.

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(l)          Initial Plan Consideration
shall mean, for any Participant, the portion of the Initial Consideration to be received by the Participant pursuant to the Plan
as calculated pursuant to Section 6 of the Plan.

 

(m)          Plan Consideration shall
mean, for any Participant, the portion of the Total Consideration to be received by the Participant pursuant to the Plan as calculated
pursuant to Section 6 of the Plan which shall be comprised of the Initial Plan Consideration and any Additional Plan Consideration.

 

(n)          Representative shall mean
one or more members of the Board or persons designated by the Board prior to, or in connection with the Change of Control Transaction.

 

(o)          Total Consideration shall
mean the total amount of cash and the fair market value of all other consideration paid or payable including Contingent Consideration
by the Successor Company or any other person to the Company or its securityholders in connection with the Change of Control Transaction,
including amounts paid or payable in respect of convertible securities, warrants, stock appreciation rights, option or similar
rights, whether or not vested and any additional amounts paid by the Successor Company in connection with this Plan, less
(i) transaction fees incurred in the course of the Change of Control Transaction (such as fees related to legal services, accounting
services, financial advisory services, investment banking services or other professional services), (ii) any debt or other liabilities
of the Company that are paid off, satisfied or otherwise assumed by the Successor Company, specifically including, but not limited
to, any bank debt or line of credit and accounts payable (excluding any liabilities under this Plan), and (iii) any taxes payable
by the Company (but not those payable by the stockholders) as a result of the Change of Control Transaction. The fair market value
of any securities (whether debt or equity) or other property shall be determined as follows:

 

(i)          the
value of securities that are freely tradable in an established public market will be determined by the method or methods set forth
in the applicable contract or contracts concerning the Change of Control Transaction; and

 

(ii)          the
value of securities that are not freely tradable or have no established public market, and the value of aggregate consideration
that consists of other property, shall be the fair market value as determined in good faith by the Board.

 

3.          Interpretation and Administration
of the Plan. Prior to the Change of Control Transaction, the administrator of the Plan will be the Compensation Committee of
the Board. After the Change of Control Transaction, the administrator of the Plan will be the Representative. The administrator
will be responsible for interpreting and administering all provisions hereof. All actions taken by the administrator in interpreting
the terms of the Plan and administration of the Plan will be final, binding and conclusive on all Participants. The administrator
shall not be personally liable by reason of any contract or other instrument related to the Plan executed by an individual or on
its or their behalf in its or their capacity as the administrator, or for any mistake of judgment made in good faith, and the Company
shall indemnify and hold harmless each individual to whom any duty or power relating to the administration or interpretation of
the Plan may be allocated or delegated, against any cost or expense (including legal fees) or liability arising out of any act
or omission to act in connection with the Plan unless arising out of such person’s own fraud or bad faith.

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4.          Eligibility to Earn Plan Consideration.
Except as otherwise provided in Section 9 below, each Participant will have the right to receive Plan Consideration, subject to
the Participant’s continued employment or service with the Company through the date of the closing of the Change of Control
Transaction unless terminated by the Company other than for cause within 90 days prior to the announcement of the Change of Control
Transaction. If a Participant’s service to the Company in all capacities (whether as an employee, consultant, advisor, director
or any other service provider) terminates for any reason prior to the date of the closing of the Change of Control Transaction
(other than by the Company not for cause within 90 days of the announcement of the Change of Control Transaction), whether initiated
by the Company or the Participant, and with or without cause, then such Participant shall no longer be considered a “Participant”
thereafter for purposes of the Plan, and such Participant will not be entitled to receive any Plan Consideration hereunder. The
Company in its sole discretion will determine whether a Participant’s service relationship has terminated for this purpose.

 

5.          Type of Plan Consideration. Pursuant to this
Plan, the Participants who are employed by the Company on the date of the closing of a Change of Control Transaction shall receive
their Plan Consideration from the Successor Company in cash and at the times set forth in Section 8 of the Plan.

 

6.          Calculation of Plan Consideration. Each Participant’s
Plan Consideration shall be calculated as follows:

 

The Initial Plan Consideration
shall be calculated on the date of the closing of the Change of Control Transaction by multiplying the Participant’s Percentage
Interest (as adjusted pursuant to Section 7 below) by the Initial Consideration and the resulting product shall then be reduced
by (i) the amount of Initial Consideration paid or payable to the Participant in the Change of Control Transaction as a result
of ownership of Equity Plan Issuances (without regard to any tax withholding requirements of the Company or the Successor Company);
(ii) the value of any Common Stock Equivalents assumed by the Successor Company in the Change of Control Transaction; (iii) the
value of any shares of Common Stock issued to a Participant by the Company pursuant to any Equity Plan Issuances that were sold
by the Participant after the date of this Plan and prior to the Change of Control Transaction; and (iv) the value of any shares
of Common Stock or Common Stock Equivalents issued to a Participant by the Company pursuant to any Equity Plan Issuances that are
retained by the Participant after the Change of Control Transaction. The value of the amounts set forth in (ii), (iii) and (iv)
above shall be calculated by determining the deemed price per share of the Common Stock in the Change of Control Transaction as
determined by the Board in its sole discretion based on the method or methods set forth in the applicable contract or contracts
concerning the Change of Control Transaction and after subtracting any exercise price or purchase price paid or to be paid by the
Participant in connection with such issuances and, in the case of Common Stock Equivalents, shall be valued using a Black Scholes
calculation of such Common Stock Equivalents immediately prior to the closing of the Change of Control Transaction using the same
deemed price per share of Common Stock in such calculation.

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For avoidance of doubt
the Participant’s Plan Consideration shall not be reduced by any shares of Common Stock purchased on the open market or in
a financing pursuant to which the Participant paid the same purchase price for such shares as third party investors.

 

The Additional Plan
Consideration shall be calculated by multiplying the Contingent Consideration to be received by a fraction the numerator of which
is each Participant’s Initial Plan Consideration and the denominator of which is the Initial Consideration.

 

7.          Adjustments to the Percentage Interest. From
and after the closing of an Equity Financing, the Company shall upon each issuance of at least 25,000 shares of stock, in the
aggregate, by the Company, including the issuance of stock upon the exercise of options or warrants granted and exercised after
the closing of an Equity Financing but not from options or warrants granted prior to the closing of an Equity Financing, automatically
adjusted downward the Participant’s Percentage Interest (and amend Schedule A in accordance therewith) in order to reflect
the dilutive effect of such issuance.

 

8.          Payment of Plan Consideration.
If the conditions for earning the Plan Consideration set forth herein are satisfied, each Participant will be entitled to earn
and be paid his or her Plan Consideration as follows:

 

(a)          Each Participant will be paid by
the Successor Company from the Initial Consideration the Participant’s Initial Plan Consideration in a lump sum by no later
than the thirtieth (30th) day following the date of the closing of the Change of Control Transaction.

 

(b)          Each Participant will be paid by
the Successor Company from the Contingent Consideration the Participant’s Additional Plan Consideration in lump sums, as,
if and when the Contingent Consideration is paid or released to the Company or its stockholders. However, if a condition (as described
in Treasury Regulation Section 1.409A-1(d)), when applied to any Contingent Consideration, would not constitute a “substantial
risk of forfeiture” (as defined in Treasury Regulation Section 1.409A-1(d)), such that the Additional Plan Consideration
related to such Condition would not be reasonably likely to be payable in compliance with either Treasury Regulation Section 1-409A-1(b)(4)
or Treasury Regulation Section 1.409A-3(i)(5)(iv)(A), or the Board determines that any Additional Plan Consideration is not otherwise
payable under the regular payment schedule of this Plan in compliance with or under an exemption from Section 409A of the Code,
then the Participant instead will be paid the fair market value (as of the date of the closing of the Change of Control Transaction),
as determined by the Board, of the Additional Plan Consideration related to such Condition (that is, the present value of the Additional
Plan Consideration that may be earned upon satisfaction of the Condition), in a lump-sum on the thirtieth (30th) day
following the date of the closing of the Change of Control Transaction.

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(c)          It is intended that each installment
of the payments provided under the Plan is a separate “payment” for purposes of Section 1.409A-2(b)(2)(i) of the Treasury
Regulations. For the avoidance of doubt, it is intended that the Plan Consideration satisfy, to the greatest extent possible, the
exemption from the application of Section 409A of the Code and the Treasury Regulations and other guidance issued thereunder and
any state law of similar effect (collectively “Section 409A”) provided under Treasury Regulations Section 1.409A-1(b)(4)
and, to the extent not so exempt, that the Plan Consideration comply, and the Plan be interpreted to the greatest extent possible
as consistent, with Treasury Regulations Section 1.409A-3(i)(5)(iv)(A) – that is, as “transaction-based compensation.”
Accordingly, any Plan Consideration will only be paid pursuant to this transaction-based exemption from Section 409A in the case
of a Change of Control Transaction that is also a “change in ownership of a corporation” or “change in ownership
of a substantial portion of a corporation’s assets” defined in Treasury Regulation Sections 1.409A-3(i)(5)(v) and (vii).
Additionally, no Plan Consideration that is being paid in reliance on the transaction-based exemption from Section 409A will
be earned or paid after the fifth (5th) anniversary of the date of the closing of the Change of Control Transaction and the Participants
will not be entitled to any payments under the Plan with respect to any Contingent Consideration after such date.

 

9.          Release.
As a further condition to earning any Plan Consideration, a Participant must execute and allow to become effective a general
release of claims in substantially the form of Exhibit A hereto prior to the thirtieth (30th) day
following  the date of the closing of the Change of Control Transaction, and if the form of release is provided to the
Participant sooner than the date of the closing of the Change of Control Transaction, within thirty (30) days of the date the
Participant receives the form of release. If any Participant refuses to execute such release and allow it to become effective
within such time period, then such Participant will not be eligible to earn Plan Consideration, and the Participant’s
rights under this Plan to receive any consideration will be forfeited.

 

10.         Withholding of Compensation.
The Successor Company will withhold from any payments under the Plan any amount required to satisfy the income and employment
tax withholding obligations arising under applicable federal, state and local laws in respect of the Plan Consideration. Each Participant should
contact his or her personal legal or tax advisors with respect to the benefits provided by the Plan. Neither the Company nor any
of its employees, directors, officers or agents are authorized to provide any tax advice to Participants with respect to the benefits
provided under the Plan.

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11.         Adjustments for Excess Parachute
Payments. In the event that (A) any consideration to be received by the Participant in connection with a Change of Control
Transaction (whether pursuant to the terms of the Plan or any other plan, arrangement, or agreement with the Company, any person
whose actions result in a Change of Control Transaction, or any person affiliated with the Company or such person) (collectively
“Parachute Payments”) would not be deductible by the Successor Company, an affiliate or other person making
such payment or providing such benefit (in whole or part) as a result of Section 280G of the Code; and (B) it is determined in
good faith by the administrator that the net after-tax amount of the Parachute Payments retained by the Participant after deduction
for any excise tax imposed by Section 4999 of the Code and any federal, state, and local income and employment taxes would not
exceed the net after-tax amount of the Parachute Payments retained by the Participant after limiting the Parachute Payments to
an amount that is 2.99 times the Participant’s “base amount” (as such term is defined by Section 280G of the
Code), then the Parachute Payments shall be reduced until no portion of the Parachute Payments is not deductible.

 

For purposes of this provision,

 

(i)              no
portion of the Parachute Payments the receipt or enjoyment of which the Participant shall have effectively waived in writing prior
to the date of payment of the Parachute Payments shall be taken into account;

 

(ii)            
no portion of the Parachute Payments shall be taken into account which in the opinion of the Company’s or
the Successor Company’s independent auditors or tax counsel serving as such immediately prior to the Change of Control Transaction
(or other tax counsel selected by the administrator) does not constitute a “parachute payment” within the meaning
of Section 280G(b)(2) of the Code;

 

(iii)           the
Parachute Payments shall be reduced only to the extent necessary so that the Parachute Payments (other than those referred to
in the immediately preceding clause (i) or (ii)) in their entirety constitute reasonable compensation for services actually rendered
within the meaning of Section 280G(b)(4) of the Code or are otherwise not subject to disallowance as deductions, in the opinion
of the auditor or tax counsel referred to in such clause (ii); and

 

(iv)          
the value of any non-cash benefit or any deferred payment or benefit included in the Parachute Payments shall be
determined by the Company’s or the Successor Company’s independent auditors or tax counsel based on Sections 280G and
4999 of the Code and the regulations for applying those Code Sections, or on substantial authority within the meaning of Section
6662 of the Code.

    
 

 

12.          Amendments. This Plan may be amended by the
Compensation Committee or the Board, as applicable at any time to amend Schedule A of this Plan to add additional Participants
and to make the adjustments to each such Participant’s Percentage Interest as set forth in Section 7 above. In addition,
the Plan may also be amended at any time by the Compensation Committee or the Board, as applicable, provided that no amendment
shall adversely affect the rights of a Participant hereunder without the written consent of such Participant. Notwithstanding anything
herein to the contrary, the Board reserves the right to equitably adjust the Percentage Interest of a Participant if, in the context
of an actual Change of Control Transaction, the definitions or calculations herein do not fairly represent the parties’ understanding
regarding the amount, allocation or payment of the sale proceeds to Participants.

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13.          Not a Condition of Employment;
No Guarantee of Employment. The Plan is not a term or condition of any individual’s employment and no Participant shall
have any legal right to payments hereunder except to the extent that all conditions required by a Participant have been satisfied
in accordance with the terms set forth herein. The Plan is intended to provide a financial incentive to Participants and is not
intended to confer upon Participants any rights to continued employment, consultancy or other service provider relationship other
than those set out in any separate agreement between the Company and such individuals governing such relationship. Each such Participant’s
service may be terminated by the Company, the Successor Company or the Participant at any time for any reason, subject to any agreements
then in effect regarding such Participant’s service or the termination thereof.

 

14.          No Equity Interest; Status as
Creditor. Neither the Plan nor the Percentage Interest hereunder creates or conveys any equity or ownership interest in the
Company or any rights commonly associated with any such interest, including, but not limited to, the right to vote on any matters
put before the Company’s stockholders. A Participant’s sole right under the Plan will be as a general unsecured creditor
of the Company and the Successor Company.

 

15.          No Assignment or Transfer by Participant.
None of the rights, benefits, obligations or duties under the Plan may be assigned or transferred by any Participant except by
will or under the laws of descent and distribution. Any purported assignment or transfer by any such Participant will be void.

 

16.          Assumption by Successor Company.
As a condition to the consummation of a Change of Control Transaction, in addition to any obligations imposed by law upon the
Successor Company, the Company shall require the Successor Company to expressly assume the Plan and agree to perform obligations
hereunder. All payments under this Plan shall be made by the Successor Company. Neither the Company nor any former or current director,
officer, employee or consultant of the Company, nor any agent of any such person or of the Company, shall be personally liable
in the event the Company is unable to make payments under this Plan.

 

17.          Severability. If any provision
of the Plan is held invalid or unenforceable, its invalidity or unenforceability will not affect any other provision of the Plan,
and the Plan will be construed and enforced as if such provision had not been included.

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18,          Governing
Law. This Plan and the rights and obligations of a Participant under the Plan will be governed by and interpreted, construed
and enforced in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws. The parties
hereby submit to the jurisdiction of the state and federal courts of the Commonwealth of Massachusetts for the resolution of any
claims, disputes or other proceedings arising under this Plan.

 

19.          Entire Agreement.
 The Plan sets forth all of the agreements and understandings between the Company and the Participants with respect
to the subject matter hereof, and supersedes and terminates all prior agreements and understandings between the Company and the
Participants with respect to the subject matter hereof.

 

 

 

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SCHEDULE A

 

	NAME	PERCENTAGE INTEREST
	 	 
	Gozani	5.0%
	Higgins	1.25%
	Balachandran	1.25%
	Williams	1.0%
	Daniello	0.85%
	[Non-executive officer]	0.80%
	[Non-executive officer]	0.80%
	[Non-executive officer]	0.50%
	[Non-executive officer]	0.25%

 

 

 

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Exhibit A

 

FORM OF GENERAL RELEASE

 

I understand that I am a Participant in
the Management Retention and Incentive Plan (the “Plan”) of NeuroMetrix, Inc. (the “Company”).
In consideration of receiving certain benefits under the Plan, I have agreed to sign this Release. I understand that I am not entitled
to benefits under the Plan unless I sign this Release on or before ___________.1/

 

In consideration for the benefits I am receiving
under the Plan, I hereby release (i) the Company; (ii) the [name of Successor Company will be inserted at time of the Change
of Control Transaction] (the “Successor Company”); and (iii) each of the foregoing person’s respective
current and former officers, directors, agents, attorneys, employees, shareholders, parents, subsidiaries, and affiliates (collectively,
the “Releasees”) from any and all claims, liabilities, demands, causes of action, attorneys’ fees, damages,
or obligations of every kind and nature, whether or not arising from contract, intentional or negligent tort, fraud, fraud in the
inducement, breach of fiduciary duty or duty of loyalty, local, state or federal ordinance, rule, regulation or statute, or any
other matter and whether known or unknown, (collectively, “Claims”) arising at any time prior to and including
the date I sign this Release (the “Release Date”). This general release includes, but is not limited to, any
Claims related to or arising out of: (i) my employment with the Company; (ii) my rights as a shareholder of the Company, including
my entitlement to receive any stock, option or any other equitable interest or right convertible into an equity interest in the
Company; (iii) any contract, whether express or implied, written or oral; (iv) any tort, including tort of wrongful termination;
and (v) the United States Constitution, any State Constitution, or any federal, state or other governmental statute, regulation
or ordinance, including, without limitation, the National Labor Relations Act, Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act of 1967, the Older Workers’ Benefit Protection Act of 1990, the Americans with Disabilities
Act of 1990, the Civil Rights Act of 1871, the Civil Rights Act of 1991, the Equal Pay Act of 1963, the Worker Adjustment and Retraining
Notification Act of 1988, the Employee Retirement Income Security Act of 1974, and the Massachusetts Fair Employment Practices
Act, the Massachusetts Wage and Hour Laws, [all other applicable state law statutes for employees employed in states other than
Massachusetts], all as amended.

 

I understand and expressly agree that this
Release extends to all claims prior to the Release Date of every nature and kind whatsoever, known or unknown, suspected or unsuspected,
past or present.

 

I warrant that as of the Release Date, I
have not commenced, initiated or made any Claim and that I will not at any time thereafter commence, initiate or make any Claim
whatsoever, whether direct or indirect, express or derivative, against the Company, the Successor Company or any of the Releasees,
in respect of any Released Matter. Notwithstanding the above, I understand that I am not releasing any of the following rights
and may after the Release Date initiate an action to enforce the following rights: (1) any Claim that cannot be waived under applicable
state or federal law, (2) any rights that I have to be indemnified (including any right to reimbursement of expenses), arising
under applicable law, the Certificate of Incorporation or by-laws (or similar constituent documents of the Company) or any indemnification
agreement between me and the Company, or any directors’ and officers’ liability insurance policy of the Company, for
any liabilities arising from my actions within the course and scope of my employment with the Company or within the course and
scope of my role as a member of the Board of Directors of the Company, (3) claims for any amounts due to me under the Plan, (4)
claims for vested retirement benefits under any tax-qualified retirement plan of the Company, or (5) claims for any compensation
or bonuses that have been earned and accrued for periods ending on or prior to the Release Date, but which have not yet been paid.
I am not releasing and nothing in this Release will prevent me from filing, cooperating with, or participating in any proceeding
before the Equal Employment Opportunity Commission, or the Department of Labor, except that I hereby acknowledge and agree that
I will not recover any monetary benefits in connection with any such proceeding with regard to any Claim released in this Release.
Nothing in this Release will prevent me from challenging the validity of my general release in a legal or administrative proceeding.

 

 

 

 

 

1/
          Insert date that is 30 days from date of Participant’s receipt.

 

    	11

    	 

    
 

 

By signing and returning this Agreement,
I acknowledge that:

 

		(1)	I have carefully read and fully understand the terms of the Plan and this Release;

 

		(2)	I have entered into this Release voluntarily and I knowingly release all Claims that I may have against the Company, the Successor
Company and the Releasees; and

 

		(3)	The Company advised me that I have the right to and that I should consult with an attorney of my choosing prior to signing
this Release.

 

I may review and consider this Release for a period of up to
twenty-one (21) days from the date that I receive it. I agree and understand that my failure to execute and deliver this Release
on or before twenty-one (21) days after the date I receive it will release the Company and the Successor Company from any obligation
under the Plan to provide any benefits to me. To the extent I execute this Release within less than twenty-one (21) days after
the date I receive it, I acknowledge that my decision was entirely voluntary and that I waive the balance of my time.

 

I will be entitled to revoke this Release at any time within
seven (7) days, provided I timely execute and deliver to the Company a written revocation of this Release. Such revocation must
be delivered in writing, by certified mail, by hand or courier service (signature of receipt required) within the time permitted
to the Chief Executive Officer of the Company at his or her office. If I elect to exercise this right to revoke this Release, I
understand that I will forfeit any and all rights to receive any benefits that might otherwise be due to me under the Plan following
my revocation.

 

    	12

    	 

    
 

 

I acknowledge that the Company may be required
to withhold taxes on amounts to be paid to me under the Plan.

 

I understand and accept that the final decision
as to the amounts that I have earned under the Plan will be made by the Board of Directors of the Company in accordance with the
Plan.

 

 

	Dated:	 	 	By:	 	 
	 	 	 	Name:	 	 

 

 

 

 

    	13

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