Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”), by and between Schmitt Industries, Inc., an Oregon corporation (the
“Company”), and Regina Walker (“Executive”), is entered into and effective this 21st day of October, 2019 (the “Effective Date”). 

RECITALS 
 A. The Company
is engaged primarily in the business of designing, manufacturing and selling high precision test and measurement products for a wide variety of manufacturing, industrial and commercial applications, and Executive has experience in such
business. 
 B. The Company desires to employ and retain the unique experience, abilities, and services of Executive as its Chief Financial
Officer and Executive desires to be employed by the Company, subject to the terms and conditions of this Agreement 
 C. The Company will
have a protectable interest in connection with Executive’s employment with the Company. Executive will have access to trade secrets, as that term is defined in ORS 646.461, or will have access to competitively sensitive confidential business or
professional information that otherwise would not qualify as a trade secret, including product development plans, product launch plans, marketing strategy, or sales plans. 

D. The Company informed Employee that it intends to enforce the noncompetition agreement and would provide additional consideration of Five
Hundred ($500) as a condition of Employee’s employment with the Company. 
 E. At least 72 hours before the first day of employment, the
Company informed Executive that it would require an arbitration agreement as a condition of employment. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the mutual promises, terms, covenants, and conditions set forth herein and the performance of each, it is
hereby agreed as follows: 
 1. EMPLOYMENT AND DUTIES. 

(a) EMPLOYMENT. The Company hereby employs Executive, and Executive hereby agrees to act, as Chief Financial Officer of the Company. As such,
Executive shall have responsibilities, duties, and authority reasonably accorded to, expected of, and consistent with Executive’s position and Executive shall report directly to the Chief Executive Officer (the “CEO”). Executive
hereby accepts this employment upon the terms and conditions herein contained and, subject to Section l(c) hereof, agrees to devote her best efforts and substantially all of her business time and attention to promote and further the business of the
Company. 
 (b) POLICIES. Executive shall faithfully adhere to, execute, and fulfill all lawful policies established by the Company. 

 (c) OTHER ACTIVITIES. Executive shall not, during the period of her employment hereunder
(the “Term”), be engaged in any other business activity pursued for gain, profit, or other pecuniary advantage if such activity interferes in any material respect with Executive’s duties and responsibilities hereunder. The foregoing
limitations shall not be construed as prohibiting Executive from (i) making personal investments in such form or manner as will neither require her services in the operation or affairs of the companies or enterprises in which such investments
are made nor subject Executive to any conflict of interest with respect to her duties to the Company, (ii) serving on any civic or charitable boards or committees, or (iii) serving, with the written approval of the Board, as a director of
one or more corporations, in each case so long as any such activities do not significantly interfere with the performance of Executive’s responsibilities under this Agreement. In addition, Executive shall comply with the restrictions listed in
Section 3 of this Agreement. 
 (d) PLACE OF PERFORMANCE. Executive shall not be required by the Company or in the performance of her
duties to relocate her primary residence. 
 2. COMPENSATION. For all services rendered by Executive, the Company shall compensate Executive as
follows: 
 (a) BASE SALARY. As of the Effective Date, the base salary payable to Executive shall be One Hundred Eighty Thousand Dollars
($180,000) per year, payable on a regular basis in accordance with the Company’s standard payroll procedures, but not less than monthly. 

(b) RESTRICTED STOCK AWARD. Upon execution of this Agreement, Executive shall be awarded 15,625 shares of restricted common stock (the
“Restricted Stock Award”) under the Company’s equity incentive plan. The Restricted Stock Award will be fully vested upon execution of this Agreement. 

(c) RETENTION BONUS. Executive shall be paid a retention bonus of Thirty Thousand Dollars ($30,000) on the
one-year anniversary of this agreement, subject to Executive’s continuous employment. Additionally, Executive shall be entitled to participate in future success pools that the Company may create in
connection with the disposition of any Company assets. 
 (d) BONUS COMPENSATION. Executive shall be eligible for each of the following
bonuses from the Company: 
 (i) Payable upon achieving Performance Based objectives determined by the CEO and Compensation Committee, an RSU
bonus up to an amount equivalent to Thirty Thousand Dollars ($30,000); 
 (ii) Discretionary bonuses to Executive determined by the CEO and
Compensation Committee and approved by the Board. 
 (e) EXECUTIVE PERQUISITES, BENEFITS, AND OTHER COMPENSATION. Executive shall be entitled
to receive additional benefits and compensation from the Company in such form and to such extent as specified below: 
 (i) REIMBURSEMENT FOR
EXPENSES. The Company shall provide reimbursement to Executive for business travel and other out-of-pocket expenses reasonably incurred by Executive in the performance
of her services under this Agreement. All reimbursable expenses shall be appropriately documented in reasonable detail by Executive upon submission of any request for reimbursement and shall be in a format and manner consistent with the
Company’s expense reporting policy. Such expenses shall be submitted to the Company’s CEO for approval or to such other officer of the Company as the Board may from time to time direct. 

  
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 (ii) PAID TIME OFF. Paid time off in accordance with the applicable policy of the Company as
in effect from time to time, but no less favorable to Executive than the policy of the Company in effect on the Effective Date. 
 (iii)
OTHER EXECUTIVE PERQUISITES. The Company shall provide Executive with other executive perquisites as may be made available to or deemed appropriate for Executive by the Board or a committee of the Board and participation in all other Company-wide
employee benefits (including group insurance, pension, retirement, and other plans and programs) as are available to the Company’s executive officers from time to time. 

3. NON-COMPETITION AGREEMENT. 

(a) NON-COMPETITION. Except with the written approval of the Board, which approval may be requested by
Executive, Executive shall not, during the period of her employment by or with the Company, and during the Non-compete Period (as hereinafter defined) for any reason whatsoever, directly or indirectly, for
herself or on behalf of or in conjunction with any other person: 
 (i) OTHER ACTIVITIES. Engage, as an officer, director, shareholder,
owner, principal, partner, lender, joint venturer, employee, independent contractor, consultant, advisor, or sales representative, in any Competitive Business within the Restricted Territory; 

(ii) SOLICITATION OF EMPLOYEES. Call upon any person who is, at that time, within the Restricted Territory, an employee of the Company or any
of its subsidiaries, in a managerial capacity for the purpose or with the intent of enticing such employee away from or out of the employ of the Company or any of its subsidiaries; 

(iii) SOLICITATION OF CUSTOMERS. Call upon any person or entity that is, at that time, or that has been, within one (1) year prior to that
time, a customer of the Company or any of its subsidiaries, within the Restricted Territory for the purpose of soliciting or selling products or services in direct competition with the Company or any of its subsidiaries within the Restricted
Territory; 
 (iv) SOLICITATION OF ACQUISITION CANDIDATES. Call upon any prospective acquisition candidate (that is, a business that the
Company may have an interest in acquiring), on Executive’s own behalf or on behalf of any person, which candidate was, to Executive’s knowledge after due inquiry, either called upon by the Company, or for which the Company made an
acquisition analysis, for the purpose of acquiring such candidate. 
 (b) CERTAIN DEFINITIONS. As used in this Agreement, the following terms
shall have the meanings ascribed to them: 
 (i) COMPETITIVE BUSINESS shall mean any Person that is engaged in designing, manufacturing and
selling high precision test and measurement products for manufacturing, industrial and commercial applications or any other business in which the Company is engaged; 

(ii) PERSON shall mean any individual, corporation, limited liability company, partnership, firm, or other business of whatever nature; 

(iii) RESTRICTED TERRITORY shall mean North America, Europe and China; and 

  
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 (iv) SUBSIDIARY shall mean the Company’s consolidated subsidiaries, including
corporations, partnerships, limited liability companies, and any other business organization in which the Company holds at least a fifty percent (50%) equity interest. 

(v) NON-COMPETE PERIOD shall mean the longer of (i) the one (1) year period immediately
following the termination of Executive’s employment with the Company or (ii) the time during which Severance Payments (defined below) are being made by the Company to Executive in accordance with this Agreement; provided, however, that if
the Executive’s employment is terminated by the Company without Good Cause, Executive terminates her employment with Good Reason, or Executive terminates her employment after a Change in Control pursuant to Section 4(b)(vi)(B), then the Non-compete Period shall be eliminated immediately following the termination of her employment with the Company. 

(c) ENFORCEMENT. Because of the difficulty of measuring economic losses to the Company as a result of a breach of the foregoing covenants, and
because of the immediate and irreparable damage that could be caused to the Company for which it would have no other adequate remedy, Executive agrees that the foregoing covenants may be enforced by the Company in the event of breach by her, by
injunctions and restraining orders. 
 (d) REASONABLE RESTRAINT. It is agreed by the parties that the foregoing covenants in this
Section 3 impose a reasonable restraint on Executive in light of the activities and business of the Company (including the Company’s subsidiaries) on the date of the execution of this Agreement and the current plans of the Company
(including the Company’s subsidiaries); but it is also the intent of the Company and Executive that such covenants be construed and enforced in accordance with the changing activities, business, and locations of the Company (including the
Company’s subsidiaries) throughout the term of this covenant, whether before or after the date of termination of the employment of Executive. For example, if, during the term of this Agreement, the Company (including the Company’s
subsidiaries) engages in new and different activities, enters a new business, or establishes new locations for its current activities or business in addition to or other than the activities or business enumerated above or the locations currently
established therefor, then Executive will be precluded from soliciting the customers or employees of such new activities or business or from such new location and from directly competing with such new business within the Restricted Territory through
the term of these covenants. 
 (e) OTHER ACTIVITIES. It is further agreed by the parties that, in the event that Executive shall cease to be
employed hereunder and enters into a business or pursues other activities not in competition with the Company (including the Company’s subsidiaries), or similar activities or business in locations, the operation of which, under such
circumstances, does not violate this Section 3, and in any event such new business, activities, or location are not in violation of this Section 3 or of Executive’s obligations under this Section 3, if any, Executive shall not be
chargeable with a violation of this Section 3 if the Company (including the Company’s subsidiaries) shall thereafter enter the same, similar, or a competitive (i) business, (ii) course of activities, or (iii) location, as
applicable. 
 (f) SEPARATE COVENANTS. The covenants in this Section 3 are severable and separate, and the unenforceability of any
specific covenant shall not affect the provisions of any other covenant. Moreover, in the event any court of competent jurisdiction shall determine that the scope, time, or territorial restrictions set forth are unreasonable, then it is the
intention of the parties that such restrictions be enforced to the fullest extent that the court deems reasonable, and the Agreement shall thereby be reformed. 

  
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 (g) INDEPENDENT AGREEMENT. All of the covenants in this Section 3 shall be construed as
an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of Executive against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the
enforcement by the Company of such covenants; except as provided in Section 4(d) below. It is specifically agreed that the Non-compete Period following termination of employment as defined in this
Section 3, during which the agreements and covenants of Executive made in this Section 3 shall be effective, shall be computed by excluding from such computation any time during which Executive is in violation of any provision of this
Section 3. 
 4. AT-WILL EMPLOYMENT. Executive’s employment with the Company shall be at-will. The Executive may terminate her employment at any time for any reason (subject to the notice requirements provided in this Agreement) and the Company may terminate Executive’s employment with the
Company at any time and for any reason (subject to the severance provisions of this Agreement). This at-will employment relationship cannot be changed except by written authorization by the Board. 

5. TERMINATION; RIGHTS ON TERMINATION. Executive’s employment under this Agreement may be terminated in any one of the followings ways:

 (a) BY THE COMPANY. Upon 30 days’ notice, the Company may terminate Executive’s employment for without good cause upon the
approval of a majority of the members of the Board, excluding Executive if Executive is a member of the Board. 
 (b) TERMINATION BY THE
COMPANY FOR GOOD CAUSE. The Company may terminate Executive’s employment upon ten (10) days prior written notice to Executive for “Good Cause,” which shall mean any one or more of the following: (A) Executive’s willful
and material breach of this Agreement which has not been cured by the Executive within thirty (30) days following written notice of such breach from the Company; (B) Executive’s gross negligence in the performance or intentional
nonperformance (continuing for thirty (30) days after receipt of written notice of need to cure) of any of Executive’s material duties and responsibilities hereunder; (C) Executive’s willful dishonesty, fraud, or misconduct with
respect to the business or affairs of the Company, which materially and adversely affects the operations or reputation of the Company; (D) Executive’s conviction of a felony crime involving dishonesty or moral turpitude; or (E) a
confirmed positive illegal drug test result. In the event of a termination by the Company for Good Cause, Executive shall have no right to any severance compensation. 

(c) RESIGNATION BY EXECUTIVE. Executive may, without cause, terminate her own employment under this Agreement, effective thirty (30) days
after written notice is provided to the Company or such earlier time as any such resignation may be accepted by the Company. If Executive resigns or otherwise terminates her employment, Executive shall receive no severance compensation. 

(e) DEATH OF EXECUTIVE. The employment of Executive shall terminate immediately upon Executive’s death. In the event of such termination,
all options to purchase Common Stock of the Company held by Executive shall thereupon vest and shall be exercisable for the maximum period of time, up to their full term, that will not cause Executive with respect to such options to be subject to
any excise tax under Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) notwithstanding the termination of employment. All restricted stock and/or restricted stock units (or comparable forms of equity
compensation, if any) held by the Executive which, as of the date of the death of Executive, are not then subject to any performance conditions for vesting, shall be fully vested and shall not be subject to any risk of forfeiture or repurchase as of
the date of Executive’s death. The payment described in this Section, if payable, will be paid within ten (10) days after the Executive’s death. 

  
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 (f) DISABILITY OF EXECUTIVE. The Company may terminate Executive’s employment in the
event the Executive is disabled. The Executive shall be disabled if the Executive is unable to engage in any substantial gainful activity by reason of a medically determined physical or mental impairment expected to last at least twelve consecutive
months or result in death, or if the Executive is determined to be disabled under a Company disability plan with a similar definition of disability. In the event of such termination, all options to purchase Common Stock of the Company held by
Executive shall thereupon vest and shall be exercisable for the maximum period of time, up to their full term, that will not cause Executive with respect to such options to be subject to any excise tax under Section 409A notwithstanding the
termination of employment. All restricted stock and/or restricted stock units (or comparable forms of equity compensation, if any) held by the Executive which, as of the date of the disability of Executive, are not then subject to any performance
conditions for vesting, shall be fully vested and shall not be subject to any risk of forfeiture or repurchase as of the date of Executive’s termination due to disability (as defined in this paragraph) 

(h) TERMINATION BY THE COMPANY WITHOUT GOOD CAUSE OR BY EXECUTIVE WITH GOOD REASON. The Company may terminate Executive’s employment
without Good Cause upon the approval of a majority of the members of the Board, excluding Executive if Executive is a member of the Board. Executive may terminate her employment under this Agreement for Good Reason upon thirty (30) days prior
notice to the Company. 
 (i) RESULT OF TERMINATION BY THE COMPANY WITHOUT GOOD CAUSE OR BY EXECUTIVE WITH GOOD REASON. Should the Company
terminate Executive’s employment without Good Cause or should Executive terminate her employment with Good Reason, the Company shall pay to Executive, on a monthly basis for six (6) months after such termination, on such dates as would
otherwise be paid by the Company, an amount equal to the average of the monthly base salary and bonus paid to Executive for the two (2) prior full fiscal years. In addition, the Company will pay, on a monthly basis for six (6) months, the
Company-paid portion of insurance premiums for coverage under the health and welfare programs of the Company in effect on the date of termination. The amounts payable under the two preceding sentences are the “Severance Payments”
contemplated by this Agreement and shall commence on the first payroll date following Executive’s “separation from service” from the Company within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”), and shall be treated as a series of separate payments under Treasury Regulations Section 1.409A-2(b)(2)(iii). Further, if the Company terminates Executive’s employment without Good
Cause or Executive terminates her employment with Good Reason, (1) all options to purchase Common Stock of the Company held by Executive shall vest thereupon and shall be exercisable for the maximum period of time, up to their full term, that
will not cause Executive with respect to such options to be subject to any excise tax under Section 409A notwithstanding the termination of employment, (2) all restricted stock and/or restricted stock units (or comparable forms of equity
compensation, if any) held by Executive which, as of the effective date of the termination of Executive, are not then subject to any performance conditions for vesting, shall be fully vested and shall not be subject to any risk of forfeiture or
repurchase as of the date of termination, and (3) Executive shall be entitled to receive all other unpaid benefits due and owing through Executive’s last day of employment. Further, any termination by the Company without Good Cause or by
Executive for Good Reason shall operate to eliminate the Non-compete Period set forth in Section 3. 

(ii) DEFINITION OF GOOD REASON. Executive shall have “Good Reason” to terminate employment upon the occurrence of any of the
following events, without Executive’s written approval: (1) Executive suffers a material reduction in authority, responsibilities, or duties as provided herein; (2) Executive’s annual base salary as set forth in this Agreement is
reduced in excess of fifteen percent (15%); (3) Executive is required to render her primary employment services from a location more than 25 miles from the Company’s headquarters at the time Executive began her employment with the Company;
(4) the Company takes steps to deny Executive a reasonable opportunity to maintain Executive’s total compensation (i.e., base salary plus bonus and any other annual cash incentive 

  
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compensation) compared to the previous fiscal year (provided total compensation may take into account performance of the Company and the past compensation practices of the Company) or
(5) the Company breaches a material provision of this Agreement. In order for an event to justify termination for Good Reason, the Executive must give written notice to the Company of such event within 90 days of its first occurrence and the
Company must have 30 days to cure, if possible. 
 (i) CHANGE IN CONTROL OF THE COMPANY. 

(i) POSSIBILITY OF CHANGE IN CONTROL. Executive understands and acknowledges that the Company may be merged or consolidated with or into
another entity and that such entity shall automatically succeed to the rights and obligations of the Company hereunder or that the Company may undergo another type of Change in Control. In the event such a merger or consolidation or other Change in
Control is initiated prior to the end of the Term, then the provisions of this Section 4(b)(vi) shall be applicable. 
 (ii) TERMINATION
SUBSEQUENT TO A CHANGE IN CONTROL. Notwithstanding anything to the contrary herein, in the event that the Company, at any time within one (1) year after a Change in Control, terminates Executive without Good Cause, the Company shall pay to
Executive a lump sum payment within thirty (30) days of the termination date. The lump sum payment shall be equal to the sum of (x) the average annual base salary and bonus paid to Executive for the two (2) prior full fiscal years
preceding the date of termination, and (y) the Company-paid portion of insurance premiums for six (6) months of coverage under the health and welfare programs of the Company in effect on the date of termination, in each case less all
applicable taxes, payroll deductions and withholdings required by law. In addition, any unvested stock options and restricted stock shall immediately be fully vested. Notwithstanding the preceding sentence, if the independent accountants acting as
auditors for the Company on the date of the Change in Control determine that such single payment, together with other compensation received by Executive, would constitute “excess parachute payments” within the meaning of Section 280G
of the Internal Revenue Code of 1986, as amended, and regulations thereunder, the single payment to Executive shall be reduced to the maximum amount which may be paid without such payments in the aggregate constituting “excess parachute
payments.” 
 (A) EFFECTIVE DATE OF CHANGE IN CONTROL. For purposes of applying Section 4 hereof, the effective date of the Change
in Control will be the closing date of the transaction giving rise to the Change in Control. 
 (B) DEFINITION OF CHANGE IN CONTROL. A
“Change in Control” shall mean the items in (1)-(4) below and a transaction that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934
(“Exchange Act”), as amended, as in effect on the date of this Agreement, or if Item 6(e) is no longer in effect, any regulations issued by the Securities and Exchange Commission pursuant to the Exchange Act, which serve similar purposes;
provided that to constitute a Change in Control the transaction must satisfy the requirements of Treasury Regulation §1.409A-3(i)(5) relating to “change in the ownership or effective control of a
corporation, or a change in the ownership of a substantial portion of the assets of a corporation”: 
 (1) TENDER OFFER. A tender offer
or exchange offer is made where the intent of such offer is to take over control of the Company, and such offer is consummated for the equity securities of the Company representing more than fifty percent (50%) of the combined voting power of the
Company’s then outstanding voting securities; 

  
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 (2) MERGER OR CONSOLIDATION. The shareholders of the Company shall approve a merger or
consolidation, of the Company, or consummation of any such transaction if shareholder approval is not obtained, other than any such transaction that would result in at least fifty percent (50%) of the total voting power represented by the voting
securities of the surviving entity outstanding immediately after such transaction being beneficially owned by the holders of outstanding voting securities of the Company immediately prior to the transaction, with the voting power of each such
continuing holder relative to other such continuing holders not substantially altered in the transaction; or 
 (3) LIQUIDATION OR SALE OF
ASSETS. The shareholders of the Company shall approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or a substantial portion of the Company’s assets to another person or entity,
which is not a wholly owned subsidiary of the Company. 
 (C) NOTIFICATION. Executive shall be notified in writing by the Company at any
time that the Company anticipates that a Change in Control may take place. 
 (D) SPECIFIED EMPLOYEE. Notwithstanding any provision of this
Agreement to the contrary, if Executive is a “specified employee” as defined in Section 409A of the Code, Executive shall not be entitled to any payments or benefits the right to which provides for a “deferral of
compensation” within the meaning of Section 409A, and which payment or provision is triggered by Executive’s termination of employment (whether such payments or benefits are provided to Executive under this Agreement or under any
other plan, program or arrangement of the Company), until the earlier of (i) the date which is the first business day following the six-month anniversary of Executive’s “separation from
service” (within the meaning of Section 409A of the Code) for any reason other than death or (ii) Executive’s date of death, and such payments or benefits that, if not for the six-month
delay described herein, would be due and payable prior to such date shall be made or provided to Executive on such date. The Company shall make the determination as to whether Executive is a “specified employee” in good faith in accordance
with its general procedures adopted in accordance with Section 409A of the Code and, at the time of the Executive’s “separation of service” will notify the Executive whether or not she is a “specified employee.” 

(j) PAYMENTS TO TERMINATION DATE. Upon termination of Executive’s employment under this Agreement for any reason provided above, Executive
shall be entitled to receive all compensation earned and all benefits and reimbursements due through the effective date of termination. Additional compensation subsequent to termination, if any, will be due and payable to Executive only to the
extent and in the manner expressly provided above. All other rights and obligations of the Company and Executive under this Agreement shall cease as of the effective date of termination (other than those expressly required under applicable law (such
as COBRA)), except that the Company’s obligations under Section 8 (relating to indemnification of Executive) and Executive’s obligations under Section 3 (relating to non-competition),
Section 5 (relating to return of Company property), Section 6 (relating to inventions), Section 7 (relating to trade secrets), and Section 9 (relating to prior agreements) shall survive such termination in accordance with their
terms. 
 (k) FAILURE TO PAY EXECUTIVE. If termination of Executive’s employment arises out of the Company’s failure to pay
Executive on a timely basis the amounts to which she is entitled under this Agreement or as a result of any other breach of this Agreement by the Company, as determined by a court of competent jurisdiction or pursuant to the provisions of
Section 14, the Company shall pay all amounts and damages to which Executive may be entitled as a result of such breach, including interest thereon and all reasonable legal fees and expenses and other costs incurred by Executive to enforce her
rights hereunder. Further, none of the provisions of Section 3 (relating to non-competition) shall apply in the event Executive’s employment under this Agreement is terminated as a result of a breach
by the Company. 

  
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 (l) CONDITIONS PRECEDENT FOR PAYMENT OF SEVERANCE. In consideration for Company’s
obligations to make any payments to Executive pursuant to Section 4, upon termination of Executive’s employment with Company for any reason other than Executive’s death, Executive shall sign and not revoke a release in a form
satisfactory to the Company (the “Release”). Company shall present the Release to Executive within ten (10) days of termination, and Executive shall have up to forty-five (45) days to consider whether to sign the Release; in the
event Executive executes the Release, Executive shall have an additional eight (8) calendar days in which to expressly revoke Executive’s execution of the Release in writing. In the event that Executive fails to execute the Release within
the forty-five (45) days following termination, or in the event Executive formally revokes the Executive’s Release within eight (8) calendar days of her signing of the Release, then Executive shall not be entitled to any payments or
benefits under Section 4 of this Agreement. The Company shall make any payments to Executive in accordance with the terms of Section 4 prior to Executive’s failure to execute the Release within forty-five (45) days or prior to
her revocation; provided that if Executive does not sign the Release or if Executive revokes the Release during any statutory revocation period, Executive shall immediately reimburse Company for any and all such payments. 

(m) DELAY IN SEVERANCE PAYMENTS. To the extent required under Section 409A, any severance payments due under this Section 4 shall be
delayed until the first date such payment may be made in compliance with Section 409A(a)(2)(B). 
 6. RETURN OF COMPANY PROPERTY. All records,
designs, patents, business plans, financial statements, manuals, memoranda, lists, and other property delivered to or compiled by Executive by or on behalf of the Company (or its subsidiaries) or its representatives, vendors, or customers that
pertain to the business of the Company (or its subsidiaries) shall be and remain the property of the Company and be subject at all times to its discretion and control. Likewise, all correspondence, reports, records, charts, advertising materials,
and other similar data pertaining to the business, activities, or future plans of the Company (or its subsidiaries) that is collected by Executive shall be delivered promptly to the Company without request by it upon termination of Executive’s
employment. 
 7. INVENTIONS. Executive shall disclose promptly to the Company any and all significant conceptions and ideas for inventions,
improvements, and valuable discoveries, whether patentable or not, which are conceived or made by Executive, solely or jointly with another, during the period of employment or within one (1) year thereafter, and which are directly related to
the business or activities of the Company (or its subsidiaries) and which Executive conceives as a result of her employment by the Company. Executive hereby assigns and agrees to assign all her interests therein to the Company or its nominee.
Whenever requested to do so by the Company, Executive shall execute any and all applications, assignments, and other instruments that the Company shall deem necessary to apply for and obtain Letters Patent of the United States or any foreign country
or to otherwise protect the Company’s interest therein. 
 8. TRADE SECRETS. Executive agrees that she will not, during or after the period of
employment under this Agreement, disclose the specific terms of the Company’s relationships or agreements with its respective significant vendors or customers, or any other significant and material trade secret of the Company, whether in
existence or proposed, to any person, firm, partnership, corporation, or business for any reason or purpose whatsoever. 

  
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 9. INDEMNIFICATION. In the event Executive is made a party to any threatened, pending, or completed
action, suit, or proceeding, whether civil, criminal, administrative, or investigative (other than an action by the Company against Executive), by reason of the fact that she is or was performing services under this Agreement, then the Company shall
indemnify Executive against all expenses (including attorneys’ fees), judgments, fines, and amounts paid in settlement, as actually and reasonably incurred by Executive in connection therewith to the maximum extent permitted by applicable law;
provided, however, the Executive must deliver a written undertaking to the Company that if it is subsequently determined by a court of law in a final, non-appealable judgment, that the Executive was not
entitled to indemnification under applicable law, then the Executive will repay all amounts. The advancement of expenses shall be mandatory. In the event that both Executive and the Company are made a party to the same third-party action, complaint,
suit, or proceeding, the Company agrees to engage competent legal representation, and Executive agrees to use the same representation, provided that if counsel selected by the Company shall have a conflict of interest that prevents such counsel from
representing Executive, Executive may engage separate counsel and the Company shall pay all attorneys’ fees of such separate counsel. Further, while Executive is expected at all times to use her best efforts to faithfully discharge her duties
under this Agreement, Executive cannot be held liable to the Company for errors or omissions made in good faith if Executive has not exhibited gross, willful, and wanton negligence and misconduct or performed criminal and fraudulent acts that
materially damage the business of the Company. Notwithstanding this Section 9, the provision of any written indemnification agreement applicable to the directors or officers of the Company to which Executive shall be a party shall apply rather
than this Section 9 to the extent inconsistent with this Section 9. 
 10. NO PRIOR AGREEMENTS. Executive hereby represents and warrants to
the Company that the execution of this Agreement by Executive and her employment by the Company and the performance of her duties hereunder will not violate or be a breach of any agreement with a former employer, client, or any other person or
entity. Further, Executive agrees to indemnify the Company for any claim, including, but not limited to, attorneys’ fees and expenses of investigation, by any such third party that such third party may now have or may hereafter come to have
against the Company based upon or arising out of any non-competition, invention, or secrecy agreement between Executive and such third party that was in existence as of the date of this Agreement. 

11. ASSIGNMENT; BINDING EFFECT. Executive understands that she is being employed by the Company on the basis of her personal qualifications,
experience, and skills. Executive agrees, therefore, that she cannot assign all or any portion of her performance under this Agreement. Subject to the preceding two (2) sentences and the express provisions of Section 12 below, this
Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective heirs, legal representatives, successors, and assigns. 

12. COMPLETE AGREEMENT. This Agreement is not a promise of future employment. Executive has no oral representations, understandings, or agreements with
the Company or any of its officers, directors, or representatives covering the same subject matter as this Agreement. This written Agreement is the final, complete, and exclusive statement and expression of the agreement between the Company and
Executive and of all the terms of this Agreement, and it cannot be varied, contradicted, or supplemented by evidence of any prior or contemporaneous oral or written agreements. This written Agreement may not be later modified except by a further
writing signed by a duly authorized officer of the Company and Executive, and no term of this Agreement may be waived except by writing signed by the party waiving the benefit of such term. This Agreement hereby supersedes any other employment
agreements or understandings, written or oral, between the Company and Executive. 

  
 10 

 13. NOTICE. Whenever any notice is required hereunder, it shall be given in writing addressed as
follows: 
  

			
	To the Company:	  	Schmitt Industries, Inc.
		  	2765 NW Nicolai Street
		  	Portland, Oregon 97210
		  	Attention: Chief Executive Officer
		
	With a copy to:	  	Schwabe Williamson & Wyatt
		  	Attn: Jean Back
		  	1211 SW Fifth Avenue Suite 1900
		  	Portland OR, 97204
		
	To Executive:	  	Regina Walker
		  	3485 Lakewood Street
		  	Lake Oswego, OR 97035

 Notice shall be deemed given and effective when hand delivered or the first business day after being deposited with a
reputable, nationally recognized overnight delivery service or when actually received. Either party may change the address for notice by notifying the other party of such change in accordance with this Section 13. 

14. SEVERABILITY; HEADINGS. If any portion of this Agreement is held invalid or inoperative, the other portions of this Agreement shall be deemed valid
and operative and, so far as is reasonable and possible, effect shall be given to the intent manifested by the portion held invalid or inoperative. The Section headings herein are for reference purposes only and are not intended in any way to
describe, interpret, define or limit the extent or intent of the Agreement or of any part hereof. 
 15. MEDIATION/ARBITRATION. All disputes arising
out of this Agreement shall be resolved as set forth in this Section 15. If any party hereto desires to make any claim arising out of the subject matter of this Agreement, including claims under state or federal law related to the terms and
conditions, or termination of employment (“Claimant”), then such party shall first deliver to the other party (“Respondent”) written notice (“Claim Notice”) of Claimant’s intent to make such claim explaining
Claimant’s reasons for such claim in sufficient detail for Respondent to respond. Respondent shall have ten (10) business days from the date the Claim Notice was given to Respondent to object in writing to the claim (“Notice of
Objection”), or otherwise cure any breach hereof alleged in the Claim Notice. Any Notice of Objection shall specify with particularity the reasons for such objection. Following receipt of the Notice of Objection, if any, Claimant and Respondent
shall immediately seek to resolve by good faith negotiations the dispute alleged in the Claim Notice, and may, at the request of either party, utilize the services of an independent mediator. If Claimant and Respondent are unable to resolve the
dispute in writing within ten (10) business days from the date negotiations began, then without the necessity of further agreement of Claimant or Respondent, the dispute set forth in the Claim Notice shall be submitted to binding arbitration
(except for claims arising out of Sections 3 or 7 hereof), initiated by either Claimant or Respondent pursuant to this Section. Such arbitration shall be conducted before a panel of three (3) arbitrators in Portland, Oregon, in accordance with
the National Rules for the Resolution of Employment Disputes of the American Arbitration Association (“AAA”) then in effect, provided that the parties may agree to use arbitrators other than those provided by the AAA. The arbitrators shall
not have the authority to add to, detract from, or modify any provision hereof nor to award punitive damages to any injured party. The arbitrators shall have the authority to order back-pay, severance
compensation, vesting of options (or cash compensation in lieu of vesting of options), vesting and the removal of restrictions on restricted stock and/or restricted stock units (or comparable forms of equity compensation, if any) that, as of the
effective date of the termination of Executive, are not then subject to any performance conditions for vesting, reimbursement of costs, including those incurred to enforce this Agreement, and interest thereon in the event the arbitrators determine
that Executive was terminated without disability or without Good Cause, as defined in Sections 4(b) and 4(c) hereof, respectively, or that the Company has otherwise materially breached this Agreement. A decision by a majority of the arbitration
panel shall be final and binding. Judgment may be entered on the arbitrators’ award in any court having jurisdiction. The direct expense of any mediation or arbitration proceeding and, to the extent Executive prevails, all reasonable legal fees
shall be borne by the Company. 

  
 11 

 16. ORS 36.620 ACKNOWLEDGEMENT. I acknowledge that I have received and read or have had the opportunity
to read this Agreement. I understand that this Agreement requires that disputes that involve the matters subject to this Agreement be submitted to mediation or arbitration pursuant to this Agreement rather than to a judge and jury in court. 

17. NO PARTICIPATION IN SEVERANCE PLANS. Except as contemplated by this Agreement, Executive acknowledges and agrees that the compensation and other
benefits set forth in this Agreement are and shall be in lieu of any compensation or other benefits that may otherwise be payable to or on behalf of Executive pursuant to the terms of any severance pay arrangement of the Company or any affiliate
thereof, or any other similar arrangement of the Company or any affiliates thereof providing for benefits upon involuntary termination of employment. 
 18.
GOVERNING LAW. This Agreement shall in all respects be construed according to the laws of the State of Oregon, notwithstanding the conflict of laws provisions of such state. 

19. COUNTERPARTS; FACSIMILE. This Agreement may be executed by facsimile and in two (2) or more counterparts, each of which shall be deemed an
original and all of which together shall constitute but one and the same instrument. 
 20. SECTION 409A. 

(a) This Agreement is intended to satisfy the requirements of Section 409A of the Code with respect to amounts subject thereto, and shall
be interpreted and construed consistent with such intent. Furthermore, if either party notifies the other in writing that, based on the advice of legal counsel, one or more of the provisions of this Agreement contravenes any regulations or Treasury
guidance promulgated under Section 409A of the Code or causes any amounts to be subject to interest or penalties under Section 409A of the Code, the parties shall promptly and reasonably consult with each other (and with their legal
counsel), and shall use their reasonable best efforts, to reform the provisions hereof to (a) maintain to the maximum extent practicable the original intent of the applicable provisions without violating the provisions of Section 409A of
the Code or increasing the costs to the Company of providing the applicable benefit or payment and (b) to the extent practicable, to avoid the imposition of any tax, interest or other penalties under Section 409A of the Code upon Executive
or the Company. 
 (b) This Agreement is intended, to the maximum extent possible, to meet the short term deferral exception and/or be a
separation pay plan due to an involuntary separation from service under Treasury Regulation Sections 1.409A-1(b)(4) and 1.409A-1(b)(9)(iii) and therefore exempt from
Code Section 409A. 

  
 12 

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

	
	SCHMITT INDUSTRIES, INC.
	
	By:                                     
                                         
                  
	Name: Michael R. Zapata
	Title:   Chief Executive Officer
	
	EXECUTIVE:
	
	  

	Regina Walker

  
 13EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 October 22, 2019

 William R. McDermott 
 Dear Bill: 

On behalf of ServiceNow, Inc. (the “Company”), this letter agreement (the “Agreement”) sets
forth the terms and conditions of your appointment as President and Chief Executive Officer of the Company. 
  

	 	1.	 Position. Effective on or before January 1, 2020, you will be appointed as the Company’s
President and Chief Executive Officer (“CEO”) reporting to the Company’s Board of Directors (the “Board”). You will have all of the duties, responsibilities and authority commensurate with the
position. Your employment with the Company will commence as soon as practicable on a date to be determined by you and the Board, which shall be no later than January 1, 2020, (such start date, your “Start Date”);
provided that the effective date of your appointment as CEO and as a member of the Board (as set forth below) shall be on the Start Date. Your office will be at the Company’s headquarters, currently located in Santa Clara, CA.

 You will be expected to devote your full working time and attention to the business of the Company, and you will not
render services to any other business without the prior approval of the Board. Notwithstanding the foregoing, you may manage personal investments, participate in civic, charitable, professional and academic activities (including serving on boards
and committees), and serve on the board of directors (and any committees) and/or as an advisor of other for-profit companies as set forth in Schedule A, provided that such activities do not at the time
the activity or activities commence or thereafter (i) create an actual or potential business or fiduciary conflict of interest or (ii) individually or in the aggregate, interfere materially with the performance of your duties to the
Company. 
 Effective January 1, 2020, you will be appointed to the Board and during the Employment Term (as defined below) subject to
the requirements of applicable law (including, without limitation, any rules or regulations of any exchange on which the common stock of the Company is listed, if applicable), the Board or the appropriate committee of the Board will nominate you for
re-election to the Board at each annual meeting at which you are subject to re-election. 
  

	 	2.	 Term. Subject to the terms of this Agreement, this Agreement will remain in effect for a period
commencing on the Start Date and ending on the fifth (5th) anniversary thereof (the “Initial Term”). Following the Initial Term, this Agreement shall automatically be
renewed for additional terms of one year on the last day of the Initial Term and each subsequent anniversary of the last day of the Initial Term (the Initial Term and any annual extension of the term of the Agreement, referenced herein as the
“Employment Term”), unless either party hereto gives the other party written notice of non-renewal at least ninety (90) days prior to such last day or anniversary. Upon a
termination of employment (whether or not during an Employment Term or upon notice of non-renewal under this Section 2), and to the extent requested in writing by the Company, you agree to resign from all
positions you may hold with the Company at such time (including as a member of the Board). 

	 	3.	 Cash Compensation. 

 

	 	a.	 Base Salary. Your initial annual base salary (the “Base Salary”)
will be One Million Dollars ($1,000,000), payable in accordance with the Company’s normal payroll practices. Thereafter, your annual base salary will be determined by the Leadership Development and Compensation Committee of the Board of
Directors (the “Compensation Committee”). Your Base Salary will be pro-rated for any partial years of employment during your Employment Term. 

 

	 	b.	 Target Bonus. During the Employment Term, you will be eligible to participate in our corporate bonus
program. Your initial annual bonus target will be 150% of your Base Salary for the applicable fiscal year (your “Target Bonus”), and the actual bonus amount awarded (your “Actual Bonus”) will be
determined based in all cases upon the achievement of Company and individual performance objectives established by the Compensation Committee after consultation with you. For fiscal year 2019, your Actual Bonus shall be based on the Company
performance determination made with respect to other senior executives for fiscal year 2019 pro-rated based upon the number of days you are employed during fiscal year 2019. To receive payment of any Actual Bonus, you must be employed by the Company
on the last day of the period to which such bonus relates and at the time bonuses are paid, except as otherwise provided herein. Your bonus participation will be subject to all the terms, conditions and restrictions of the applicable Company bonus
plan, as amended from time to time. After fiscal year 2019, your annual bonus target and the Company performance objectives will be determined by the Compensation Committee after consultation with you. 

 

	 	c.	 Make-Whole Payment. The Company acknowledges that you have vested in the right, and expect to receive
certain payments under a long term incentive plan from your current employer over the next four (4) years (the “LTI Payments”). You have been advised that your current employer is obligated to make the payments to you in
annual installments over the four year period, subject to the provisions of the plan, and you agree to use your best efforts to secure such payments from your current employer at such times as your current employer is required to make such payments
to you. Should such efforts not be successful and your current employer does not make the required payments to you within thirty (30) days of the date such payments are required to be paid to you, the Company agrees to pay to you, within thirty
(30) days after a formal demand by you to the Company for payment, a cash amount equal to the difference between the specific payments required to be made to you and the amount actually received by you, such payments not to exceed $21,115,498
in the aggregate (the “Make-Whole Payments”). Should you subsequently receive any additional portion of any such payments from your current employer you agree to pay the amount of such payments to the Company. Notwithstanding
the foregoing, if the Company terminates your employment as CEO for Cause or you resign without Good Reason, any further Make-Whole Payments obligations of the Company shall immediately terminate without liability of the Company and you shall not be
entitled to any additional Make-Whole Payment. 

  

	 	4.	 Benefits & Vacation. You will be entitled to participate in all employee
retirement, welfare, insurance, benefit and vacation programs of the Company as are in effect from time to time and in which other senior executives of the Company are eligible to participate, on the same terms as such other senior executives.

  

	 	5.	 Equity Awards. Subject to this Section 5, you will be granted a
New-Hire RSU, an Additional RSU, a New-Hire Option and a Fiscal Year 2020 Equity Award as follows: 

 

	 	a.	 New-Hire RSU. On the later to occur of the first day (1st) day after your Start Date and the fifth (5th) business day following the public announcement of this Agreement (the “Grant 

  
 2 

	 	
Date”), the Company will grant you a restricted stock unit to acquire such number of shares of the Company’s common stock equal to Sixteen Million Dollars ($16,000,000)
divided by the average daily closing price of the Company’s common stock on the New York Stock Exchange for the thirty business days ending on the day immediately prior to the Grant Date, rounded up to the nearest whole share (the “New-Hire RSU”) under the Company’s 2012 Equity Incentive Plan (the “Equity Plan”). The New-Hire RSU will vest over five
(5) years with twenty (20%) percent of the total shares subject to the New-Hire RSU to vest on the first anniversary of the Start Date and the balance of the
New-Hire RSU to vest in equal quarterly installments over the following 16 quarters; provided that, subject to Section 8 below, vesting will depend on your continued employment as CEO of the Company on
the applicable time-based vesting dates, and will be subject to the terms and conditions of the written agreement governing the grant, the Equity Plan and this Agreement. 

 

	 	b.	 New-Hire Option. Upon the Grant Date, the Company will grant you
a stock option to purchase such number of shares of the Company’s common stock equal to Sixteen Million Dollars ($16,000,000) under the Equity Plan (the “New-Hire Option”).
Specifically, the number of shares of the Company’s common subject to the New-Hire Option will be determined by dividing Sixteen Million Dollars ($16,000,000) by: (i) the average daily closing price
of the Company’s common stock on the New York Stock Exchange for the thirty business days ending on the day immediately prior to the Grant Date, multiplied by (ii) the applicable Black Scholes ratio as determined by the Company’s
finance department, rounded up to the nearest whole share. The New-Hire Option shall be granted with an exercise price equal to the closing price of the Company’s common stock on the New York Stock
Exchange on the Grant Date (the “Exercise Price”). The New-Hire Option will be a non-qualified stock option, and, except as set forth in
Section 8, will be exercisable (to the extent vested) until the lesser of (i) ten years from the Grant Date, (ii) ninety (90) days following your termination of employment for any reason other than death or disability and
(iii) one (1) year following your death or disability. The New-Hire Option will vest and become exercisable only if you satisfy both time-based and performance-based vesting requirements as described in
this Section 5(c), subject to Section 8 below, will depend on your continued employment as CEO of the Company on the applicable time-based or performance-based vesting dates, and, except as set forth above and in Section 8 below, will
be subject to the terms and conditions of the written agreement governing the grant, the Equity Plan and this Agreement; provided that the 25% Absolute Metric (as defined below) or the 50% Absolute Metric (as defined below), as applicable, is
satisfied on or after each time-based vesting date for the Time-Based Vesting Tranche, all as set forth in the following provisions of this Section 5(c). 

The New-Hire Option will vest over five (5) years as follows: twenty (20%) percent of the total
shares subject to the New-Hire Option will vest and become exercisable on the first annual anniversary of the Start Date and the balance of the shares subject to the
New-Hire Option will vest and become exercisable in equal monthly installments of 1/60 of the total shares on each of the following 48 monthly anniversaries of the Start Date, each a time-based vesting date;
provided that the 25% Absolute Metric or the 50% Absolute Metric, as applicable, is satisfied on each applicable time-based vesting date. 

  
 3 

 No shares subject to the New-Hire Option that are
scheduled to time-vest during the first thirty (30) months following the Start Date will vest, regardless of satisfaction of the time-based vesting schedule, unless and until the average of the daily closing prices of the Company’s common
stock on the New York Stock Exchange for the 20-business day period ending on the trading day immediately prior to each time-based vesting date is at least 25% higher than the Exercise Price (the
“25% Absolute Metric”). 
 No shares subject to the New-Hire Option that are
scheduled to time-vest during the second thirty (30) months following the Start Date will vest, regardless of satisfaction of the time-based vesting schedule, unless and until the average of the daily closing prices of the Company’s common
stock on the New York Stock Exchange for the 20-business day period ending on the trading day immediately prior to each time-based vesting date is at least 50% higher than the Exercise Price (the
“50% Absolute Metric”). 
 The applicable 25% Absolute Metric or 50% Absolute Metric must be satisfied on each
applicable time-based vesting date. If a time-based vesting date occurs and the applicable 25% Absolute Metric or 50% Absolute Metric is not achieved on such time-based vesting date, the number of shares that would have vested on such time-based
vesting date will not vest, but will instead roll forward (the “Roll-Forward”) until the next time-based vesting date on which the applicable 25% Absolute Metric or 50% Absolute Metric is achieved. The balance of the New-Hire Option will continue to be eligible to vest pursuant to the time-based vesting schedule, subject to achievement of the applicable 25% Absolute Metric or 50% Absolute Metric on or after each later time-based
vesting date, as described above. 
  

	 	c.	 Fiscal Year 2020 LTIP Award. It is anticipated that you will be eligible for a Fiscal Year 2020 LTIP
Award to acquire such number of shares of the Company’s common stock equal to Sixteen Million Dollars ($16,000,000) (the “Fiscal 2020 Equity Award”) at the same time that it grants fiscal year 2020 equity awards to other
senior executives of the Company. Twenty (20%) percent of any Fiscal 2020 Equity Award shall be time-based restricted stock units (the “FY20 RSU”) and will vest and become exercisable over sixteen (16) quarters following
such grant; provided that, subject to Section 8 below, vesting will depend on your current employment as CEO of the Company on the applicable time-based vesting dates, and will be subject to the terms and conditions of the current form of RSU
agreement, the Equity Plan and this Agreement, Eighty (80%) percent of any Fiscal Year 2020 Equity Award shall be subject to the same performance metrics and vesting schedule as the fiscal year 2020 performance restricted stock units granted to
other senior executives of the Company and your being CEO on any vesting date (the “FY20 PRSU”). 

Subject to Section 8 below, vesting will depend on your continued employment as CEO of the Company on the applicable time-based or
performance-based vesting dates, and will be subject to the terms and conditions of the written agreement governing such grant, the Equity Plan and this Agreement. 
  

	 	d.	 Additional RSU. As consideration for your purchase of shares of the Company’s common stock on the
public market with a fair market value of One Million Dollars ($1,000,000) within twelve (12) months following your Start Date (the “Stock Purchase”), upon the Grant Date the Company will grant you a restricted stock
unit under the Equity Plan to acquire such number of shares of the Company’s common stock (the “Additional RSU”) equal to Two Million Five Hundred Thousand Dollars ($2,500,000) divided by the average daily closing price
of the Company’s common stock on the New York Stock Exchange for the thirty business days ending on the day immediately prior to the Grant Date, rounded up to the nearest whole share (the “Grant Date Value”). The
Additional RSU will vest on the one year anniversary of the Start Date; provided that, subject to Section 8 below, vesting will depend on your continued employment as CEO of the Company on such one year anniversary of the Start Date. The

  
 4 

	 	
Additional RSU will be subject to the terms and conditions of the written agreement governing the grant, the Equity Plan and this Agreement. Notwithstanding the foregoing, if you are terminated
by the Company for Cause or you resign without Good Reason following the one year anniversary of the Start Date and prior to the second (2nd) anniversary of the Start Date, you will repay to the
Company a cash amount equal to the Grant Date Value, reduced on a pro rata basis for each partial or full quarter of employment as the Company’s CEO following the Start Date. 

 

	 	e.	 Non-Assumption upon Change in Control. If the New-Hire RSU, the Additional RSU and the New-Hire Option, are not assumed, continued or substituted in a Change in Control (as defined below), then the vesting of the New-Hire RSU and the Additional RSU will accelerate in full immediately prior to the Change in Control, and the New-Hire Option will accelerate in full immediately prior to
the Change in Control to the extent the applicable 25% Absolute Metric or 50% Absolute Metric has been achieved upon the Change in Control. In addition to the criteria set forth in Section 5(c) above, the 25% Absolute Metric and the 50%
Absolute Metric will be deemed to have been achieved if the consideration given to the Company’s stockholders for one share of the Company’s common stock in the Change of Control transaction equals or exceeds in value the 25% Absolute
Metric and the 50% Absolute Metric, respectively. Any other unvested equity grants you may hold at the time of a Change in Control will accelerate as set forth in such equity grants or the applicable plan document. 

 

	 	f.	 Future Equity. You shall be eligible for future equity grants as determined by and pursuant to the terms
established by the Compensation Committee. The amount and performance metrics for subsequent performance-based restricted stock units will be determined by the Compensation Committee. 

 

	 	6.	 Expenses. 

  

	 	a.	 The Company will, in accordance with applicable Company policies and guidelines, reimburse you for all
reasonable and necessary expenses incurred by you in connection with your performance of services on behalf of the Company. 

  

	 	b.	 In addition, the Company will reimburse, promptly upon presentation of invoices, your expenses for legal or
other advisors (including any accounting or tax advisor fees) incurred in the review and finalization of this Agreement, up to an aggregate of One Hundred Thousand Dollars ($100,000). 

The reimbursement for all such expenses shall be paid pursuant to the Company’s policies and practices, following your submission of
proper documentation for such expenses. 
  

	 	7.	 Definitions. As used in this Agreement, the following terms have the following meanings:

  

	 	a.	 Cause. For purposes of this Agreement, “Cause” for the Company to
terminate your employment hereunder shall mean the occurrence of any of the following events, as determined by the Company and/or the Board in its and/or their sole and absolute discretion: 

 

	 	i.	 your conviction of, or plea of nolo contendere to, any felony or any crime involving fraud, dishonesty or moral
turpitude; 

  

	 	ii.	 your commission of or participation in a fraud or act of dishonesty against the Company that results in (or
would reasonably be expected to result in) material harm to the business of the Company; 

  

	 	iii.	 your intentional, material violation of any contract or agreement between you and the Company or any statutory
duty you owe to the Company; 

  
 5 

	 	iv.	 your conduct that constitutes gross insubordination, incompetence or habitual neglect of duties and that
results in (or would reasonably be expected to result in) material harm to the business of the Company; 

  

	 	v.	 your material failure to follow the lawful directions of the Board; or 

 

	 	vi.	 your material failure to follow the Company’s material policies; 

provided, however, that the action or conduct described in clauses (iii), (iv), (v), and (vi) above will constitute
“Cause” only if such action or conduct continues after the Company has provided you with written notice thereof and thirty (30) days to cure the same if such action or conduct is curable. 

 

	 	b.	 Change in Control. For purposes of this Agreement, “Change in
Control” means the occurrence, in a single transaction or in a series of related transactions, of any one or more of the following events (excluding in any case transactions in which the Company or its successors issues
securities to investors primarily for capital raising purposes): 

  

	 	i.	 the acquisition by a third party of securities of the Company representing fifty (50%) percent of the combined
voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar transaction; 

  

	 	ii.	 a merger, consolidation or similar transaction following which the stockholders of the Company immediately
prior thereto do not own at least fifty (50%) percent of the combined outstanding voting power of the surviving entity (or that entity’s parent) in such merger, consolidation or similar transaction; 

 

	 	iii.	 the dissolution or liquidation of the Company; or 

 

	 	iv.	 the sale, lease, exclusive license or other disposition of all or substantially all of the assets of the
Company; 

 provided, however, that any transaction or transactions effected solely for purposes of changing the
Company’s domicile will not constitute a Change in Control pursuant to the foregoing definition. 
  

	 	c.	 COBRA. For purposes of this Agreement, “COBRA” means the Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended. 

  

	 	d.	 Constructive Termination. For purposes of this Agreement, “Constructive
Termination” means you terminate your employment for Good Reason. 

  

	 	e.	 Disability. For purposes of this Agreement, “Disability” shall have that
meaning set forth in Section 22(e)(3) of the Code. 

  

	 	f.	 Good Reason. For purposes of this Agreement, “Good Reason” for you to
terminate your employment hereunder shall mean the occurrence of any of the following events without your consent: 

  

	 	i.	 any material diminution in your authority, duties or responsibilities as in effect immediately prior to such
reduction or a material diminution in the authority, duties or responsibilities of the person or persons to whom you are required to report; 

  
 6 

	 	ii.	 you not being appointed or being removed as the chief executive officer of the Company or any successor company
through a merger, reorganization or other restructuring; 

  

	 	iii.	 a material reduction by the Company in your annual Base Salary or your Target Bonus opportunity, as initially
set forth herein or as increased thereafter; provided, however, that Good Reason shall not be deemed to have occurred in the event of a reduction in your annual Base Salary or Target Bonus opportunity that is pursuant to a salary reduction program
affecting substantially all of the employees of the Company and that does not adversely affect you to a greater extent than other similarly situated employees; 

 

	 	iv.	 a relocation of your business office to a location that would increase your
one-way commute distance by more than thirty-five (35) miles from the current location at which you performed your duties immediately prior to the relocation, except for required travel by you on the
Company’s business to an extent substantially consistent with your business travel obligations prior to the relocation; or 

  

	 	v.	 a material breach by the Company of this Agreement; 

provided, however, that, any such termination by you shall only be deemed for Good Reason pursuant to this definition if: (1) you
give the Company written notice of your intent to terminate for Good Reason within ninety (90) days following the first occurrence of the condition(s) that you believe constitute(s) Good Reason, which notice shall describe such condition(s);
(2) the Company fails to remedy such condition(s) within thirty (30) days following receipt of the written notice (the “Cure Period”); and (3) you voluntarily terminate your employment within one hundred twenty
(120) days following the end of the Cure Period. 
  

	 	8.	 Effect of Termination of Employment and Non-Renewal of
Agreement. 

  

	 	a.	 Termination for Cause, Death or Disability, or Voluntary Resignation or
Non-Renewal of Agreement. In the event your employment is terminated for Cause, your employment terminates due to your death or Disability (which termination may be implemented by written notice by the
Company if you have been Disabled for six (6) consecutive months while you remain Disabled), you voluntarily resign your employment other than for Good Reason or the Agreement is not renewed pursuant to Section 2, you will be paid only:
(i) any earned but unpaid Base Salary, (ii) except in the case of termination for Cause, the amount of any Actual Bonus earned and payable from a prior bonus period which remains unpaid by the Company as of the date of the termination of
employment determined in good faith in accordance with customary practice, to be paid at the same time as bonuses are paid for that period to other eligible executives, (iii) other unpaid and then-vested amounts, including any amount payable to
you under the specific terms of any agreements, plans or awards, including insurance and health and benefit plans in which you participate, unless otherwise specifically provided in this Agreement and (iv) reimbursement for all reasonable and
necessary expenses incurred by you in connection with your performance of services on behalf of the Company in accordance with applicable Company policies and guidelines, in each case as of the effective date of such termination of employment (the
“Accrued Compensation”). In addition, if your Employment Term is not renewed pursuant to Section 2 after the Initial Term as a result of a written notice of non-renewal by the
Company, provided that you deliver to the Company a signed general release of claims in favor of the Company in the form attached hereto as Exhibit A (the “Release”) and satisfy all conditions to make the Release
effective within sixty (60) days following your termination of employment, then, if the applicable 25% Absolute Metric or 50% Absolute Metric is achieved on or within two (2) years after the Initial Term, immediate acceleration of the
number of then-unvested shares subject to the New-Hire Option that are subject to the 25% Absolute Metric or the 50% Absolute Metric, respectively; and provided further that the
New-Hire Option, or relevant part thereof, is exercised within the time limits as set forth in the written agreements governing such grant, but no less than ninety (90) days following achievement of the
applicable 25% Absolute Metric or 50% Absolute Metric during such (2) year period following the Initial Term. 

  
 7 

	 	b.	 Termination without Cause during the Employment Term or Constructive Termination during the Employment Term,
Absent a Change in Control. If the Company terminates your employment without Cause or if your employment is terminated by you due to a Constructive Termination, in either case not in connection with a Change in Control (which is dealt with in
Section 8(c) below), provided that (except with respect to the Accrued Compensation) you deliver to the Company a signed Release and satisfy all conditions to make the Release effective within sixty (60) days following your termination of
employment, then, you shall be entitled to: 

  

	 	i.	 the Accrued Compensation; 

 

	 	ii.	 a lump sum payment equal to twelve (12) months of your then-current Base Salary; 

 

	 	iii.	 a lump sum payment equal to your Actual Bonus for the then-current fiscal year based on (x) actual
achievement of Company performance objectives and (y) deemed 100% achievement of personal performance objectives, if any, and paid when annual bonuses are otherwise paid to active employees, but no later than March 15th of the year following the year in which the termination of employment occurs; 

  

	 	iv.	 a payment of the COBRA premiums (or reimbursement to you of such premiums) for continued health coverage for
you and your dependents for a period of twelve (12) months; 

  

	 	v.	 immediate acceleration of the number of then-unvested shares subject to the
New-Hire RSU that would have vested during the next fifteen (15) month period; 

  

	 	vi.	 immediate acceleration of the number of then unvested shares subject to the Additional RSU that have not
previously been forfeited; 

  

	 	vii.	 if the applicable 25% Absolute Metric or 50% Absolute Metric is achieved on or within two (2) years of
your termination date, immediate acceleration of the number of then-unvested shares subject to the New-Hire Option that are subject to the 25% Absolute Metric or the 50% Absolute Metric, respectively, and that
would have time-vested during the next fifteen (15) month period following such termination date, to the extent applicable, provided that the New-Hire Option, or relevant part thereof, is exercised within
the time limits as set forth in the written agreements governing such grant, but no less than ninety (90) days following achievement of the applicable 25% Absolute Metric or 50% Absolute Metric during such (2) year period following your
termination date; and 

  

	 	viii.	 immediate acceleration of the number of then-unvested shares subject to outstanding equity grants, other than
as set forth in this Section 8(b), and excluding any future performance-based restricted stock unit grants, equal to the number of shares that would have vested during the next fifteen (15) month period following such termination date as
if you had remained employed as CEO by the Company through such period, subject to any performance goal having been achieved on or prior to your termination. 

  

	 	c.	 Termination without Cause during Employment Term or Constructive Termination during Employment Term, in
Connection with a Change in Control. In the event a Change in Control occurs and if the Company terminates your employment without Cause or if your employment is terminated by you due to a Constructive Termination of your employment, in either
case within the period beginning three (3) months before, and ending twelve (12) months following, such Change in Control; and provided that (except with respect to the Accrued Compensation) you deliver to the Company the signed Release
and satisfy all conditions to make the Release effective within sixty (60) days following your termination of employment, then, (in lieu of any benefits pursuant to Section 8(b)), you shall be entitled to: 

 

	 	i.	 the Accrued Compensation; 

  
 8 

	 	ii.	 a lump sum payment equal to twenty-four (24) months of your then-current Base Salary;

  

	 	iii.	 a lump sum payment equal to 100% of your Target Bonus (assuming target achievement level) for the then-current
fiscal year, less any quarterly payment previously paid, if any; 

  

	 	iv.	 a payment of the COBRA premiums (or reimbursement to you of such premiums) for continued health coverage for
you and your dependents for a period of eighteen (18) months; 

  

	 	v.	 immediate acceleration of all of the then-unvested shares subject to the
New-Hire RSU; 

  

	 	vi.	 immediate acceleration of the number of then unvested shares subject to the Additional RSU that have not
previously been forfeited; 

  

	 	vii.	 immediate acceleration of the number of all then-unvested shares subject to the
New-Hire Option, but only to the extent the applicable 25% Absolute Metric or 50% Absolute Metric has been achieved upon the Change in Control or is achieved during any post-Change in Control period prior to
your termination, provided that the New-Hire Option, or relevant part thereof, is exercised within the time limits as set forth in the written agreements governing the grants and the applicable agreement
governing the Change in Control. In addition to the criteria set forth in Section 5(c) above, the 25% Absolute Metric and the 50% Absolute Metric will be deemed to have been achieved if the consideration given to the Company’s stockholders
for one share of the Company’s common stock in the Change of Control transaction equals or exceeds in value the 25% Absolute Metric and the 50% Absolute Metric, respectively; and 

 

	 	viii.	 immediate acceleration of the number of then-unvested shares subject to equity grants, other than as set forth
in this Section 8(c), and excluding any future performance-based restricted stock unit grants, unless otherwise provided (and to the extent specified) by the terms of such grants. 

 

	 	d.	 Miscellaneous. For the avoidance of doubt, the benefits payable pursuant to Sections 8(b) through
(c) are mutually exclusive and not cumulative. All lump sum payments provided in this Section 8 shall be made no later than the 60th day following your termination of employment (unless
explicitly provided otherwise above). Notwithstanding anything to the contrary in this Agreement, (i) any reference herein to a termination of your employment is intended to constitute a “separation from service” within the meaning of
Section 409A of the Code, and Section 1.409A-1(h) of the regulations promulgated thereunder, and shall be so construed, and (ii) no payment will be made or become due to you during any period
that you continue in a role with the Company that does not constitute a separation from service, and will be paid once you experience a “separation from service” from the Company within the meaning of Section 409A of the Code. In
addition, notwithstanding anything to the contrary in this Agreement, upon a termination of your employment, you agree to resign prior to the time you deliver the Release from all positions you may hold with the Company and any of its subsidiaries
or affiliated entities at such time (including as a member of the Board), and no payment will be made or become due to you until you resign from all such positions, unless requested otherwise by the Board. 

 

	 	9.	 Parachute Payments. In the event that the severance and other benefits provided for in this Agreement or
otherwise payable to you (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) but for this Section, would be subject to the excise tax imposed by Section 4999 of the Code, then, at
your discretion, your severance and other benefits under this Agreement shall be payable 

  
 9 

	 	
either (i) in full, or (ii) as to such lesser amount which would result in no portion of such severance and other benefits being subject to the excise tax under Section 4999 of the
Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by you on an after-tax
basis, of the greatest amount of severance benefits under this Agreement, notwithstanding that all or some portion of such severance benefits may be taxable under Section 4999 of the Code. Any reduction shall be made in the following manner:
first a pro-rata reduction of (i) cash payments subject to Section 409A of the Code as deferred compensation and (ii) cash payments not subject to Section 409A of the Code, and second a pro
rata cancellation of (i) equity-based compensation subject to Section 409A of the Code as deferred compensation and (ii) equity-based compensation not subject to Section 409A of the Code, with equity all being reduced in reverse
order of vesting and equity not subject to treatment under Treasury regulation 1.280G- Q & A 24(c) being reduced before equity that is so subject. Unless the Company and you otherwise agree in writing, any determination required under this
Section shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and binding upon you and the Company for all purposes. For purposes of making
the calculations required by this Section, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of
the Code. The Company and you shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section. The Accountants shall deliver to the Company and you
sufficient documentation for you to rely on it for purpose of filing your tax returns. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section. 

 

	 	10.	 Section 409A. To the extent (i) any payments to which you become entitled under
this Agreement, or any agreement or plan referenced herein, in connection with your termination of employment with the Company constitute deferred compensation subject to Section 409A of the Code and (ii) you are deemed at the time of such
termination of employment to be a “specified” employee under Section 409A of the Code, then such payment or payments shall not be made or commence until the earlier of (i) the expiration of the six (6)-month period measured from
the date of your “separation from service” (as such term is at the time defined in regulations under Section 409A of the Code) with the Company; or (ii) the date of your death following such separation from service; provided,
however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to you, including (without limitation) the additional twenty (20%) percent tax for which you would otherwise be liable under
Section 409A(a)(1)(B) of the Code in the absence of such deferral. Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single sum or in installments) in the
absence of this paragraph shall be paid to you or your beneficiary in one lump sum (without interest). 

 Except as
otherwise expressly provided herein, to the extent any expense reimbursement or the provision of any in-kind benefit under this Agreement (or otherwise referenced herein) is determined to be subject to (and
not exempt from) Section 409A of the Code, the amount of any such expenses eligible for reimbursement, or the provision of any in-kind benefit, in one calendar year shall not affect the expenses eligible
for reimbursement or in kind benefits to be provided in any other calendar year, in no event shall any expenses be reimbursed after the last day of the calendar year following the calendar year in which you incurred such expenses, and in no event
shall any right to reimbursement or the provision of any in-kind benefit be subject to liquidation or exchange for another benefit. 
 To the
extent that any provision of this Agreement is ambiguous as to its exemption or compliance with Section 409A, the provision will be read in such a manner so that all payments hereunder are exempt from Section 409A to the maximum
permissible extent, and for any payments where such construction is not tenable, that those payments comply with Section 409A to the maximum permissible extent. To the extent any payment under this Agreement may be classified as a
“short-term deferral” within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Section 409A under another provision of Section 409A. 

  
 10 

 Payments pursuant to this Agreement (or referenced in this Agreement), and each installment
thereof, are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the regulations under Section 409A. 

 

	 	11.	 At Will Employment. Employment with the Company is for no specific period of time. Your employment with
the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this
Agreement. This is the full and complete agreement between you and the Company on this term. Although your compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at
will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you). 

 

	 	12.	 Confidential Information and Other Company Policies. You will be bound by and comply fully with the
Company’s standard confidentiality agreement (a form of which was been provided to you), insider trading policy, code of conduct, and any other policies and programs adopted by the Company regulating the behavior of its employees, as such
policies and programs may be amended from time to time to the extent the same are not inconsistent with this Agreement, unless you consent to the same at the time of such amendment. 

 

	 	13.	 Company Records and Confidential Information. 

 

	 	a.	 Records. All records, files, documents and the like, or abstracts, summaries or copies thereof, relating
to the business of the Company or the business of any subsidiary or affiliated companies, which the Company or you prepare or use or come into contact with, will remain the sole property of the Company or the affiliated or subsidiary company, as the
case may be, and will be promptly returned upon termination of employment. 

  

	 	b.	 Confidentiality. You acknowledge that you have acquired and will acquire knowledge regarding
confidential, proprietary and/or trade secret information in the course of performing your responsibilities for the Company, and you further acknowledge that such knowledge and information is the sole and exclusive property of the Company. You
recognize that disclosure of such knowledge and information, or use of such knowledge and information, to or by a competitor could cause serious and irreparable harm to the Company. 

 

	 	14.	 Indemnification. You and the Company will enter into the form of indemnification agreement provided to
other similarly situated officers and directors of the Company. In addition, you will be named as an insured on the director and officer liability insurance policy currently maintained by the Company, or as may be maintained by the Company from time
to time. 

  

	 	15.	 Arbitration. You and the Company agree to submit to mandatory binding arbitration, in Santa Clara
County, California, before a single neutral arbitrator, any and all claims arising out of or related to this Agreement and your employment with the Company and the termination thereof, except that each party may, at its or his option, seek
injunctive relief in court related to the improper use, disclosure or misappropriation of a party’s proprietary, confidential or trade secret information. YOU AND THE COMPANY HEREBY WAIVE ANY RIGHTS TO TRIAL BY JURY IN REGARD TO SUCH CLAIMS.
This agreement to arbitrate does not restrict your right to file administrative claims you may bring before any government agency where, as a matter of law, the parties may not restrict your ability to file such claims (including, but not limited
to, the National Labor Relations Board, the Equal Employment Opportunity Commission and the Department of Labor). However, you and the Company agree that, to the fullest extent permitted by law, arbitration shall be the exclusive remedy for the
subject matter of such administrative claims. The arbitration shall be conducted through the American 

  
 11 

	 	
Arbitration Association (the “AAA”), provided that, the arbitrator shall have no authority to make any ruling or judgment that would confer any rights with respect
to the trade secrets, confidential and proprietary information or other intellectual property of the Company upon you or any third party. The arbitrator shall issue a written decision that contains the essential findings and conclusions on which the
decision is based. The arbitration will be conducted in accordance with the AAA employment arbitration rules then in effect. The AAA rules may be found and reviewed at http://www.adr.org. If you are unable to access these rules, please let me
know and I will provide you with a hardcopy. The parties acknowledge that they are hereby waiving any rights to trial by jury in any action, proceeding or counterclaim brought by either of the parties against the other in connection with any matter
whatsoever arising out of or in any way connected with this Agreement. 

  

	 	16.	 Compensation Recoupment. All amounts payable to you hereunder shall be subject to recoupment pursuant to
the Company’s current compensation recoupment policy, and any additional compensation recoupment policy or amendments to the current policy adopted by the Board as required by law during the term of your employment with the Company that is
applicable generally to executive officers of the Company. 

  

	 	17.	 Miscellaneous. 

 

	 	a.	 Employment Eligibility Verification. For purposes of federal immigration law, you will be required to
provide to the Company documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of your Start Date, or our employment relationship with
you may be terminated. 

  

	 	b.	 Absence of Conflicts; Competition with Prior Employer. You represent that your performance of your
duties under this Agreement will not breach any other agreement as to which you are a party. You agree that you have disclosed to the Company all of your existing employment and/or business relationships, including, but not limited to, any
consulting or advising relationships, outside directorships, investments in privately held companies, and any other relationships that may create a conflict of interest, and you represent that you are not and have not been the subject of any claim
or investigation involving harassment of any employee, consultant or other service provider of any prior employer. You are not to bring with you to the Company, or use or disclose to any person associated with the Company, any confidential or
proprietary information belonging to any former employer or other person or entity with respect to which you owe an obligation of confidentiality under any agreement or otherwise. The Company does not need and will not use such information and we
will assist you in any way possible to preserve and protect the confidentiality of proprietary information belonging to third parties. Also, we expect you to abide by any obligations to refrain from soliciting any person employed by or otherwise
associated with any former employer and suggest that you refrain from having any contact with such persons until such time as any non-solicitation obligation expires. 

 

	 	c.	 Successors. This Agreement is binding on and may be enforced by the Company and its successors and
permitted assigns and is binding on and may be enforced by you and your heirs and legal representatives. Any successor to the Company or substantially all of its business (whether by purchase, merger, consolidation or otherwise) will in advance
assume in writing and be bound by all of the Company’s obligations under this Agreement and shall be the only permitted assignee. 

  

	 	d.	 Notices. Notices under this Agreement must be in writing and will be deemed to have been given when
personally delivered or two days after mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. Mailed notices to you will be addressed to you at the home address which you have most recently communicated to the
Company in writing. Notices to the Company will be addressed to the Chairman of the Board at the Company’s corporate headquarters. 

  
 12 

	 	e.	 Waiver. No provision of this Agreement will be modified or waived except in writing signed by you and an
officer of the Company duly authorized by its Board. No waiver by either party of any breach of this Agreement by the other party will be considered a waiver of any other breach of this Agreement. 

 

	 	f.	 Severability. In the event that any provision hereof becomes or is declared by a court of competent
jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision. 

  

	 	g.	 Withholding. All sums payable to you hereunder shall be reduced by all federal, state, local and other
withholding and similar taxes and payments required by applicable law. 

  

	 	h.	 Entire Agreement. This Agreement represents the entire agreement between the parties concerning the
subject matter herein. It may be amended, or any of its provisions waived, only by a written document executed by both parties in the case of an amendment, or by the party against whom the waiver is asserted. 

 

	 	i.	 Governing Law. This Agreement will be governed by the laws of the State of California without reference
to conflict of laws provisions. 

  

	 	j.	 Survival. The provisions of this Agreement shall survive the termination of your employment for any
reason to the extent necessary to enable the parties to enforce their respective rights under this Agreement. 

[SIGNATURE PAGE TO AGREEMENT FOLLOWS] 

  
 13 

 Please sign and date this Agreement, and return it to me if you wish to accept employment at the Company
under the terms described above. 
  

	
	Best regards,
	
	 /s/ Jeffrey A. Miller

	Jeffrey A. Miller
	Lead Independent Director and Chairman of the Leadership Development and Compensation Committee of the Board of Directors

 I, the undersigned, hereby accept and agree to the terms and conditions of my employment with the
Company as set forth in this Agreement. 
 Accepted and agreed to this October 22, 2019: 

 

			
	By:	 	 /s/ William R. McDermott

		 	William R. McDermott

 [SIGNATURE PAGE TO AGREEMENT] 

 Exhibit A 

Release 
 In consideration
of the termination benefits (the “Benefits”) provided and to be provided to me by ServiceNow, Inc., or any successor thereof (the “Company”) pursuant to my Agreement with Company dated
            , 2019 (the “Agreement”) and in connection with the termination of my employment, I agree to the following general release (the
“Release”). 
  

	1.	 On behalf of myself, my heirs, executors, administrators, successors, and assigns, I hereby fully and forever
generally release and discharge Company, its current, former and future parents, subsidiaries, affiliated companies, related entities, employee benefit plans, and, in such capacities, their fiduciaries, predecessors, successors, officers, directors,
shareholders, agents, employees and assigns (collectively, the “Company”) from any and all claims, causes of action, and liabilities up through the date of my execution of the Release. The claims subject to this release
include, but are not limited to, those relating to my employment with Company and/or any predecessor to Company and the termination of such employment. All such claims (including related attorneys’ fees and costs) are barred without regard to
whether those claims are based on any alleged breach of a duty arising in statute, contract, or tort. This expressly includes waiver and release of any rights and claims arising under any and all laws, rules, regulations, and ordinances, including,
but not limited to: Title VII of the Civil Rights Act of 1964; the Older Workers Benefit Protection Act; the Americans With Disabilities Act; the Age Discrimination in Employment Act; the Fair Labor Standards Act; the National Labor Relations Act;
the Family and Medical Leave Act; the Employee Retirement Income Security Act of 1974, as amended (“ERISA”); the Workers Adjustment and Retraining Notification Act; the California Fair Employment and Housing Act (if applicable); the
provisions of the California Labor Code (if applicable); the Equal Pay Act of 1963; and any similar law of any other state or governmental entity. The parties agree to apply California law in interpreting the Release. Accordingly, I further waive
any rights under Section 1542 of the Civil Code of the State of California or any similar state statute. Section 1542 states: “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 to him or her, must have materially affected his or her settlement with the debtor.” This Release does not extend to, and has no effect upon, any benefits that have accrued
or equity that has vested, and to which I have become vested or otherwise entitled to, under any employee benefit plan, program or policy sponsored or maintained by the Company, or to my right to indemnification by the Company, and continued
coverage by the Company’s director’s and officer’s insurance. 

  

	2.	 In understanding the terms of the Release and my rights, I have been advised to consult with an attorney of my
choice prior to executing the Release. I understand that nothing in the Release shall prohibit me from exercising legal rights that are, as a matter of law, not subject to waiver such as: (a) my rights under applicable workers’
compensation laws; (b) my right, if any, to seek unemployment benefits; (c) my right to indemnity under California Labor Code section 2802 or other applicable state-law right to indemnity; and
(d) my right to file a charge or complaint with a government agency such as but not limited to the Equal Employment Opportunity Commission, the National Labor Relations Board, the Department of Labor, the California Department of Fair
Employment and Housing, or other applicable state agency. Moreover, I will continue to be indemnified for my actions taken while employed by the Company to the same extent as other former directors and officers of the Company under the
Company’s Certificate of Incorporation and Bylaws and the Director and Officer Indemnification Agreement between me and the Company, if any, and I will continue to be covered by the Company’s directors and officers liability insurance
policy as in effect from time to time to the same extent as other former 

 directors and officers of the Company, each subject to the requirements of the laws of the
State of Delaware. To the fullest extent permitted by law, any dispute regarding the scope of this general release shall be resolved through binding arbitration as set forth below, and the arbitration provision set forth in my Agreement. 

 

	3.	 I understand and agree that Company will not provide me with the Benefits unless I execute the Release. I also
understand that I have received or will receive, regardless of the execution of the Release, all wages owed to me together with any accrued but unused vacation pay, less applicable withholdings and deductions, earned through my termination date.

  

	4.	 As part of my existing and continuing obligations to Company, I have returned to Company all Company documents
(and all copies thereof) and other Company property that I have had in my possession at any time, including but not limited to Company files, notes, drawings, records, business plans and forecasts, financial information, specification,
computer-recorded information, tangible property (including, but not limited to, computers, laptops, pagers, etc.), credit cards, entry cards, identification badges and keys; and any materials of any kind which contain or embody any proprietary or
confidential information of Company (and all reproductions thereof). I understand that, even if I did not sign the Release, I am still bound by any and all confidential/proprietary/trade secret information,
non-disclosure and inventions assignment agreement(s) signed by me in connection with my employment with Company, or with a predecessor or successor of Company pursuant to the terms of such agreement(s).

  

	5.	 I represent and warrant that I am the sole owner of all claims relating to my employment with Company and/or
with any predecessor of Company, and that I have not assigned or transferred any claims relating to my employment to any other person or entity. 

  

	6.	 I agree to keep the Benefits and the provisions of the Release confidential and not to reveal its contents to
anyone except my lawyer, my spouse or other immediate family member, and/or my financial consultant, or as required by legal process or applicable law unless and until they become publicly available. 

 

	7.	 I understand and agree that the Release shall not be construed at any time as an admission of liability or
wrongdoing by either Company or myself. 

  

	8.	 I agree that, for eighteen (18) months following my termination of employment, I will not, directly or
indirectly, make any negative or disparaging statements or comments, either as fact or as opinion, about Company, its employees, officers, directors, shareholders, vendors, products or services, business, technologies, market position or
performance, and the Company agrees that neither it formally nor its Chief Executive Officer or other members of the Board of Directors will make, directly or indirectly, any negative or disparaging statements or comments, either as fact or as
opinion, about me. Nothing in this paragraph shall prohibit me or Company from providing truthful information in response to a subpoena or other legal process. 

 

	9.	 Any controversy or claim arising out of or relating to this Release, its enforcement, arbitrability, or
interpretation, or because of an alleged breach, default, or misrepresentation in connection with any of its provisions, shall be submitted to arbitration in San Mateo, California, before three arbitrators, in accordance with the applicable American
Arbitration Association (“AAA”) rules then in effect, as modified by the terms and conditions of this Section; provided, however, that provisional injunctive relief may, but need not, be sought in a court of law while
arbitration proceedings are pending, and any provisional injunctive relief granted by such court shall remain effective until the matter is finally determined by the arbitrators. The arbitrators shall be selected

  
 2 

	 	
by mutual agreement of the parties or, if the parties cannot agree, by striking from a list of arbitrators supplied by AAA. The arbitrators shall issue a written opinion revealing, however
briefly, the essential findings and conclusions upon which the award is based. Final resolution of any dispute through arbitration may include any remedy or relief which the arbitrator deems just and equitable. Any award or relief granted by the
arbitrators hereunder shall be final and binding on the parties hereto and may be enforced by any court of competent jurisdiction. The parties acknowledge that they are hereby waiving any rights to trial by jury in any action, proceeding or
counterclaim brought by either of the parties against the other in connection with any matter whatsoever arising out of or in any way connected with this Release. 

 

	10.	 I agree that I have had at least twenty-one (21) calendar days in
which to consider whether to execute the Release, no one hurried me into executing the Release during that period, and no one coerced me into executing the Release. I understand that the offer of the Benefits and the Release shall expire on the
twenty-second (22nd) calendar day after my employment termination date if I have not accepted it by that time. I further understand that Company’s obligations under the Release shall not
become effective or enforceable until the eighth (8th) calendar day after the date I sign the Release provided that I have timely delivered it to Company (the “Effective
Date”) and that in the seven (7) day period following the date I deliver a signed copy of the Release to Company I understand that I may revoke my acceptance of the Release. I understand that the Benefits will become available to
me at such time after the Effective Date. 

  

	11.	 In executing the Release, I acknowledge that I have not relied upon any statement made by Company, or any of
its representatives or employees, with regard to the Release unless the representation is specifically included herein. Furthermore, the Release contains our entire understanding regarding eligibility for Benefits and supersedes any or all prior
representation and agreement regarding the subject matter of the Release. However, the Release does not modify, amend or supersede written Company agreements that are consistent with enforceable provisions of this Release such as my Agreement,
proprietary information and invention assignment agreement, and any stock, stock option and/or stock purchase agreements between Company and me. Once effective and enforceable, this agreement can only be changed by another written agreement signed
by me and an authorized representative of Company. 

  

	12.	 Should any provision of the Release be determined by an arbitrator, court of competent jurisdiction, or
government agency to be wholly or partially invalid or unenforceable, the legality, validity and enforceability of the remaining parts, terms, or provisions are intended to remain in full force and effect. Specifically, should a court, arbitrator,
or agency conclude that a particular claim may not be released as a matter of law, it is the intention of the parties that the general release and the waiver of unknown claims above shall otherwise remain effective to release any and all other
claims. I acknowledge that I have obtained sufficient information to intelligently exercise my own judgment regarding the terms of the Release before executing the Release. 

 

	13.	 The Benefits provided and to be provided to me by the Company consist of the benefits and payments in
accordance with Section 8 of the Agreement. 

 [SIGNATURE PAGE TO
GENERAL RELEASE AGREEMENT FOLLOWS] 

  
 3 

 EMPLOYEE’S ACCEPTANCE OF RELEASE 

BEFORE SIGNING MY NAME TO THE RELEASE, I STATE THE FOLLOWING: I HAVE READ THE RELEASE, I UNDERSTAND IT AND I KNOW THAT I AM GIVING UP IMPORTANT RIGHTS. I
HAVE OBTAINED SUFFICIENT INFORMATION TO INTELLIGENTLY EXERCISE MY OWN JUDGMENT. I HAVE BEEN ADVISED THAT I SHOULD CONSULT WITH AN ATTORNEY BEFORE SIGNING IT, AND I HAVE SIGNED THE RELEASE KNOWINGLY AND VOLUNTARILY. 

EFFECTIVE UPON EXECUTION BY EMPLOYEE AND THE COMPANY. 
  

	
	Date delivered to employee                 ,             .
	
	Executed this                      day of
                ,            .

  

	
	  

Your Signature

	
	  

Your Name (Please Print)

  

			
	Agreed and Accepted:
	
	ServiceNow, Inc.
	
	  

	By:	 	
	Date:	 	

 [SIGNATURE PAGE TO GENERAL
RELEASE AGREEMENT] 

 Schedule A 

1.    You currently serve on the Board of Directors of three companies. You agree that prior to the Company’s filing of proxy
materials in connection with its 2020 annual meeting, you will be serving on the Board of Directors of not more than one company (other than the Company) which may or may not be one of the companies on whose Board you currently serve. 

2.    Speeches associated with “Winners Dream”.

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