Document:

Offer Letter Agreement

 Exhibit 10.11 

 

			
	

	  	
 

  
 October 19, 2007

 
 Mark Norman
 555 Henley Rd.
 Birmingham, MI 48009

 
 Dear Mark:

 
 Contingent upon the closing on October 31, 2007 of the
merger between Mobility, Inc., d/b/a Flexcar (“Flexcar”), and Zipcar, Inc. (“Zipcar” or the “Company”) pursuant to the Agreement and Plan of Merger by and among Zipcar, Inc., Zulu Acquisition Corp., Mobility, Inc. and
Alps Communications LLC dated September 26, 2007, I am pleased to extend an offer of employment with the Company as President and Chief Operating Officer reporting directly to me.

 
 As President and Chief Operating Officer, you will be
responsible for leading day-to-day operations by directing and coordinating activities consistent with established goals, objectives, and policies set by the Chief Executive Officer and Board of Directors. In addition, you will be responsible for
other duties as may from time to time be assigned to you by the Company’s Board of Directors or me. You agree to devote your full time, best efforts, skill, knowledge, attention and energies to the advancement of the Company’s business and
interests and to the performance of your duties and responsibilities as an employee of the Company.
  
 Your annualized base salary rate will be $350,000, less all applicable taxes and withholdings, paid bi-weekly per the Company’s pay policy. Such base salary may be adjusted from time to time in
accordance with normal business practices and in the sole discretion of the Company. You also may be eligible to receive a discretionary annual incentive and performance bonus of up to $150,000. This bonus, if any, will be based on your individual
performance objectives and Company performance and will be determined by the Company in its sole discretion. Any such bonus will be pro-rated for your partial year of employment in 2007. This bonus, if any, generally will be paid within the first
quarter of the next calendar year and you must be an active employee of the Company on the date the bonus is distributed in to order to be eligible to receive it.
  

The position with the Company will require your relocation to Cambridge, Massachusetts by March, 2008. In connection with this
relocation, the Company will provide you with a Relocation Allowance of a gross amount of $200,000 to cover the reasonable costs associated with moving your family and household goods; including temporary housing in the Cambridge, Massachusetts
area, realtor fees and losses on the sale of your current property in Birmingham, Michigan. You may elect to receive this Relocation Allowance in one of the following ways; (i) as a cash payment to you, net of all applicable taxes and
withholdings; (ii) as a direct payment by Zipcar oh your behalf to vendors following submission of invoices; or (iii) as a reimbursement to you following submission of your paid receipts. This Relocation Allowance is contingent upon your
remaining continuously employed with the Company for three years after your first date of employment. Should you voluntarily leave Zipcar for any reason or are terminated by Zipcar for “Cause” (see definition below) within the first three
years of your first date of employment, the Relocation Allowance

			
		  	 shall be repayable to the Company as follows: (i) 100% of the Relocation Allowance shall be repayable if you leave within the first
year following your first date of employment and (ii) 50% of the Relocation Allowance, as amortized monthly depending on the date of your employment termination, shall be repayable if you leave after one year, but before the conclusion of the
third year, following your first date of employment, (e.g., if you voluntarily resign your employment with Zipcar 14 months following your first date of employment, you must repay Zipcar $91,666.67 ($100,000 ($50% of $200,000) less ( $4,166.66 x 2
months)). Zipcar reserves the right to recover the Relocation Allowance from any money due to you at the time of your employment termination, including, but not limited to, base pay, bonus, expense reimbursement, and/or accrued unused vacation
payout.
  
 Subject to approval by the Company’s
Board of Directors, the Company will grant to you an option to purchase 1,000,000 shares of Zipcar stock at an exercise price specified below. This total includes your 237,087 converted shares from Flexcar and 175,000 of these shares will be vested
as of the date of the closing, The remaining 825,000 shares will then vest in equal amounts of 17,187 shares per month for 48 months subject to your continued employment by the Company. The option exercise price will be equal to the fair market
value of a share of Common Stock on the date of grant of the option as determined by the Company’s Board of Directors. The option will be issued pursuant to the Company’s 2000 Stock Option Plan (the “2000 Stock Option Plan”) and
will be subject to all of the terms and conditions set forth in the 2000 Stock Option Plan and the stock option agreement covering the option, which must be executed to affect the grant of any option. The applicable stock agreement shall include a
change in control (“CIC”) provision that will provide, upon the occurrence of certain circumstances and events as described therein, accelerated vesting as to 25% of the unvested shares in the event of a CIC and accelerated vesting of an
additional 25% of the unvested shares in the event your employment is terminated under certain conditions within twelve (12) months of a CIC; provided, however, that the merger between Flexcar and Zipcar does not qualify as a CIC
for purposes of the accelerated vesting described herein. The specific details and requirements for accelerated; vesting shall be as set forth in the stock option agreement.

 
 You will be eligible to participate in Zipcar’s benefit
plans, provided you are eligible under (and subject to all provisions of) the plan documents governing those programs. The benefits made available by the Company, and the rules, terms, and conditions for participation in such benefit plans may be
changed by the Company at any time and from time to time without advance notice. Subject to proration to your date of hire, you also will be eligible to accrue up to four (4) weeks paid vacation per calendar year at the rate of 1.67 days per
month, Use of such vacation time is subject to Company policy.
  
 As a condition of employment, you will be required to execute the Company’s Invention and Non-Disclosure Agreement, a Non-Competition and Non-Solicitation Agreement, and acknowledgement of receipt of
the Zipcar Security Policy.
  
 In the event that the
Company terminates your employment without “Cause”, or you terminate your employment with the Company for “Good Reason” (see definitions below), then, provided you enter into a binding release of claims in favor of the Company,
the Company shall pay to you after the release of claims becomes binding a lump-sum severance payment in an amount equal to 12 months of your then current monthly base salary (the “Severance Payment”). If you terminate your employment with
the Company pursuant to the terms and conditions applicable to resigning for Good Reason as a result of a reduction of your annual base salary without your prior consent, the Severance Payment shall be based on your monthly base salary immediately
preceding such reduction. The Severance Payment is subject to withholding of such amounts, if any, relating to tax and other payroll deductions. Furthermore, no Severance Payment that may be made pursuant to this agreement that constitutes
“nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code and the guidance issued thereunder (“Section 409A”) may be accelerated or deferred by the Company or by you.
Notwithstanding anything else to the contrary in this offer letter, to the extent that any of the payments that may be made

  

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		  	 hereunder constitute “nonqualified deferred compensation”, within the meaning of Section 409A and you are a
“specified employee” upon your separation from service (as defined under Section 409A), any such payment shall be delayed for six months following your separation from service date if, absent such delay, such payment would otherwise
be subject to penalty under Section 409A. In any event, the Company makes no representation or warranty and shall have no liability to you or to any other person if any provisions of this letter agreement are determined to constitute
“nonqualified deferred compensation” subject to Section 409A but do not satisfy the requirements of that section.
  

Definitions:
  

“Cause” shall exist upon (i) a good faith finding by the Board of Directors of the Company (A) of repeated
and willful failure of you, after prior written notice, to perform your reasonably assigned duties for the Company, or (B) that you have engaged in dishonesty, gross negligence or misconduct, which dishonesty, gross negligence or misconduct has
had a material adverse effect on the Company; (ii) your conviction of, or your entry of a pleading of guilty or nolo contendere to, any crime involving moral turpitude or any felony; or (in) a material breach by you of any material provision of
any invention and non-disclosure agreement or noncompetition and non-solicitation agreement with the Company that, unless the Board of Directors determines in good faith is a breach that is incapable of cure, continues uncured for a period of 30
days after the Company shall have given you written notice of such breach.
  
 “Good Reason” shall exist upon (i) mutual written agreement by you and the Board of Directors of the Company that Good Reason exists; (ii) the relocation of the Company such
that your daily commute is increased by at least 60 miles without your written consent; provided, however, that your relocation to Cambridge, Massachusetts in connection with the aforementioned merger does not constitute Good Reason;
(iii) reduction of your annual base salary without your prior consent; or (iv) your demotion to a position with responsibilities substantially less than your current position as President and Chief Operating Officer or a change in
reporting relationship wherein you report to someone other than the most senior operating executive at Zipcar without your prior consent, provided, however, that with respect to this subparagraph (iv), if you are so demoted or your reporting
relationship changed (which such demotion or change is not a termination of employment by the Company) after the occurrence of a Change in Control, you shall continue to provide services to the Company as an employee for a transition period of up to
four months following the Change of Control (or shorter period as requested by the Company) prior to being eligible to terminate your employment for Good Reason under this subparagraph (iv).

 
 This letter shall not be construed as an agreement, either
expressed or implied, to employ you for any stated term, and shall in no way alter the Company’s policy of employment at will, under which both you and the Company remain free to terminate the employment relationship, with or without cause, at
any time, with or without notice.
  
 For purposes of
federal immigration law, you will be required to provide the Company with documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to the Company within three (3) business
days of your date of hire, or our employment relationship with you may be terminated.
  
 As an employee of the Company, you will be required to comply with all Company policies and procedures. Violations of the Company’s policies may lead to immediate termination of your employment.
Further, the Company’s premises, including all workspaces, furniture, documents, and other tangible materials, and all information technology resources of the Company (including computers, data and other electronic files, and all internet and
email) are subject to oversight and inspection by the Company at any time. Company employees should have no expectation of privacy with regard to any Company premises, materials, resources, or
information.

  

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		  	 You represent that you are not bound by any employment contract, restrictive covenant or other restriction
preventing you from entering into employment with or carrying out your responsibilities for the Company, or which is in any way inconsistent with the terms of this letter. Please note that this offer letter is your formal offer of employment and
supersedes any and all prior or contemporaneous agreements, discussions and understandings, whether written or oral, relating to the subject matter of this letter or your employment with the Company, including, but not limited to, the Executive
Employment Agreement between Flexcar and you dated July 1,2006 (the “Employment Agreement”). You acknowledge that you are not entitled to any further compensation under the Employment Agreement after the closing of the merger,
including, but not limited to, any severance payments or other benefits. The resolution of any disputes under this letter will be governed by Massachusetts law.
  

Mark, I am looking forward to working with you at Zipcar, and to your becoming a part of a company that provides great value to its
customers and employees. I believe that you have much to offer and much to gain in joining us. I look forward to receiving a favorable response from you acknowledging that you have accepted this offer of employment; provided, however,
that this offer shall become null and void and you will not be eligible for any of the compensation or benefits described herein, even if you have accepted Zipcar’s offer, should the closing not occur on October 31, 2007. Please let us
know of your decision before Friday, October 26,2007 We expect that your start date at Zipcar will be the date of the closing.

  

	
	 Very truly yours,

	
	
 

	 Scott Griffith

	 Chief Executive Officer

	
	 ACCEPTANCE

  

					
		  	 Please sign below to accept this at-will offer to join Zipcar, Inc. in accordance with the terms set forth in this offer
letter. Please return a signed copy of this letter via fax (6l7.995.4200) or by mail to:
  
 Connie Puglia
 VP, Human Resources
 ZipCar, Inc.
 25 First Street, 4th Floor

Cambridge, MA 02141
  
 Important: Please call Connie Puglia at 617.995.4243 prior to sending the fax to ensure confidentiality.

 

							
		  	
 

	 		  	 10/31/07

		  	 Mark Norman
	 		  	Date

  

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	  	 December 15, 2008
  

Mark Norman
 196 Highgate

Needham, MA 02492
  
 Dear Mark,
  
 This letter
updates and amends your offer letter between you and Zipcar Inc. “the Company”, dated 10/19/2007.
  
 As of the date here of, the Appendix A will be attached to your offer letter. All other particulars in your agreement will remain in tact.

	  		 		 	  
 Very Truly Yours,
	  	
	  		 		 	

	  	
	  		 		 	 Scott W. Griffith

Chairman & CEO
	  	
	  	  
 The foregoing correctly sets forth the terms of my
employment by Zipcar, Inc.

	  	  

 

	 		 	  
 12/30/08 
	  		  	
	  	Mark Norman	 		 	 Date
	  		  	

 Appendix A 

 

			
		  	 Compliance with Section 409A

 
 Subject to the provisions in this Appendix A, any severance payments
under your offer letter shall begin only upon the date of your “separation from service” (determined as set forth below) which occurs on or after the date of termination of your employment. The following rules shall apply with respect to
distribution of the payments, if any, to be provided to you under your offer letter.
  
 1. It is intended that each installment of the severance payments provided under your offer letter shall be treated as a separate “payment” for purposes of Section 409A of the Internal
Revenue Code and the guidance issued thereunder (“Section 409A”). Neither you nor the Company shall have the right to accelerate or defer the delivery of any such payments except to the extent specifically permitted or required by
Section 409A.
  
 2. If, as of the date of your “separation from
service” from the Company, you are not a “specified employee” (within the meaning of Section 409A), then each installment of the severance payments shall be made on the dates and terms set forth in your offer letter.

 
 3. If, as of the date of your “separation from service” from the Company,
you are a “specified employee” (within the meaning of Section 409A), then:
  
 a. Each installment of the severance payments due under your offer letter that, in accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the separation from
service occurs, be paid within the Short-Term Deferral Period (as hereinafter defined) shall be treated as a short-term deferral within the meaning of Treasury Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under
Section 409A. For purposes of your offer letter, the “Short-Term Deferral Period” means the period ending on the later of the fifteenth day of the third month following the end of your tax year in which the separation from service
occurs and the fifteenth day of the third month following the end of the Company’s tax year in which the separation from service occurs; and
  

b. Each installment of the severance payments due under your offer letter that is not described in paragraph 3(a) above and that
would, absent this subsection, be paid within the six-month period following your “separation from service” from the Company shall not be paid until the date that is six months and one day after such separation from service (or, if
earlier, your death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day following your separation from service and any
subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not apply to any installment of severance payments if and to
the maximum extent that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating to separation pay upon
an involuntary separation from service). Any installments that qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of the second taxable year following the taxable year in
which the separation from service occurs.
  
 4. The determination of whether
and when your separation from service from the Company has occurred shall be made and in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this paragraph 4,
“Company” shall include all persons with whom the Company would be considered a single employer under Section 414(b) and 414(c) of the Code.

			
		  	 5. All reimbursements and in-kind benefits provided under your offer letter shall be made or provided in accordance with the
requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A, including, where applicable, the requirements that (i) any reimbursement is for expenses incurred during your
lifetime (or during a shorter period of time specified in your offer letter), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year,
(iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject to set off or liquidation or
exchange for any other benefit.
  
 6. Notwithstanding anything herein to the
contrary, the Company shall have no liability to you or to any other person if the payments provided in your offer letter that are intended to be exempt from or compliant with Section 409A are not so exempt or
compliant.

 April 2, 2010 
 Mark Norman 
 196 Highgate 
 Needham, MA 02492 
 Dear Mark, 
 This letter updates and amends your offer letter between you and Zipcar Inc. “the Company”, dated 10/19/2007. 
 As of the date of this letter, your annual salary will be three hundred and fifty thousand dollars ($350,000) per year, to be paid in bi-weekly installments, in the amount of $13,461.54, in accordance
with Zipcar’s usual payroll practices. All compensation shall be subject to the customary withholding tax and other employment taxes and deductions as required by law. 
 You are also eligible to receive a discretionary annual bonus of up to fifty percent (50%) of your annualized base salary. This bonus, if any, will be based on mutually agreed upon performance and
company objectives. Payment of this bonus is based upon a recommendation by the CEO and is subject to the discretion of and approval by the Company’s compensation committee of its Board of Directors (the “Board”). The bonus, if any,
will be payable in the calendar year following the close of the calendar year in which the services are provided to which the annual bonus applies (the “Bonus Payment Date”); provided that you must be employed in good
standing by the Company on a Bonus Payment Date in order to be eligible for payment. You understand that you will not be eligible to receive any bonus payment if your employment with the Company has terminated for any reason prior to the Bonus
Payment Date. All compensation shall be subject to the customary withholding tax and other employment taxes and deductions as required by law. 

All other particulars in your agreement will remain in tact. 

 

	
	Very Truly Yours,
	
	 /s/ Scott W. Griffith

	Scott W. Griffith
	Chairman & CEO

 The foregoing correctly sets
forth the terms of my employment by Zipcar, Inc. 
  

							
	 /s/ Mark Norman
	 		 	 May 3, 2010
	 	
	Mark Norman	 		 	Date	 	

 Appendix A 

Compliance with Section 409A 
 Subject to the provisions in this Appendix A, any severance payments under your offer letter shall begin only upon the date of your “separation from service” (determined as set forth below)
which occurs on or after the date of termination of your employment. The following rules shall apply with respect to distribution of the payments, if any, to be provided to you under your offer letter. 

1. It is intended that each installment of the severance payments provided under your offer letter shall be treated as a separate “payment” for
purposes of Section 409A of the Internal Revenue Code and the guidance issued thereunder (“Section 409A”). Neither you nor the Company shall have the right to accelerate or defer the delivery of any such payments except to the extent
specifically permitted or required by Section 409A. 
 2. If, as of the date of your “separation from service” from the Company,
you are not a “specified employee” (within the meaning of Section 409A), then each installment of the severance payments shall be made on the dates and terms set forth in your offer letter. 

3. If, as of the date of your “separation from service” from the Company, you are a “specified employee” (within the meaning of
Section 409A), then: 
 a. Each installment of the severance payments due under your offer letter that, in accordance with
the dates and terms set forth herein, will in all circumstances, regardless of when the separation from service occurs, be paid within the Short-Term Deferral Period (as hereinafter defined) shall be treated as a short-term deferral within the
meaning of Treasury Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under Section 409A. For purposes of your offer letter, the “Short-Term Deferral Period” means the period ending on the later of the fifteenth
day of the third month following the end of your tax year in which the separation from service occurs and the fifteenth day of the third month following the end of the Company’s tax year in which the separation from service occurs; and

 b. Each installment of the severance payments due under your offer letter that is not described in paragraph 3(a) above and
that would, absent this subsection, be paid within the six-month period following your “separation from service” from the Company shall not be paid until the date that is six months and one day after such separation from service (or, if
earlier, your death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day following your separation from service and any
subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not apply to any installment of severance payments if and to
the maximum extent that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating to separation pay
upon an involuntary separation from service). Any installments that qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of the second taxable year following the taxable year in
which the separation from service occurs. 
 4. The determination of whether and when your separation from service from the Company has occurred
shall be made and in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this paragraph 4, “Company” shall include all persons with whom the Company
would be considered a single employer under Section 414(b) and 414(c) of the Code. 

 5. All reimbursements and in-kind benefits provided under your offer letter shall be made or provided in
accordance with the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A, including, where applicable, the requirements that (i) any reimbursement is for expenses incurred
during your lifetime (or during a shorter period of time specified in your offer letter), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar
year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject to set off or
liquidation or exchange for any other benefit. 
 6. Notwithstanding anything herein to the contrary, the Company shall have no liability to you
or to any other person if the payments provided in your offer letter that are intended to be exempt from or compliant with Section 409A are not so exempt or compliant. 

 

 

  
  
  

 

 

 

 

 December 21, 2010 
 Mark Norman 
 196 Highgate 
 Needham, MA 02492 
 This letter updates and amends your offer letter between you and Zipcar, Inc.
(the “Company”) dated October 19, 2007 and as amended December 15, 2008 and April 2, 2010 (the “Letter Agreement”). 
 The eighth paragraph of your Letter Agreement shall be restated in its entirety to read as follows: 
 “In the event that the Company terminates your employment without “Cause”, or you terminate your employment with the Company for “Good Reason” (see definitions below), then,
provided you enter into and do not revoke a binding release of claims in favor of the Company within 30 days of the date of your termination, which is reasonably acceptable to the Company, the Company shall pay you a lump sum severance payment in an
amount equal to 12 months of your then current monthly base salary (the “Severance Payment”). If you terminate your employment with the Company pursuant to the terms and conditions applicable to resigning for Good Reason as a result of a
reduction of your annual base salary without your prior consent, the Severance Payment shall be based on your monthly base salary immediately preceding such reduction. The Severance Payment is subject to withholding of such amounts, if any, relating
to tax and other payroll deductions. Your Severance Payment will be made 30 days following the date of your termination, provided the release has been properly executed and not revoked as of such date, or, if the release has been executed and the
applicable revocation period has expired prior to the 30th
day following your termination of employment, then the Severance Payment may be made on such earlier date. Notwithstanding the foregoing, if the 30th day following your termination occurs in the calendar year following your termination, then the Severance Payment
shall be made no earlier than January 1 of such subsequent calendar year. The payment of severance is subject to the terms set forth in Appendix A. No Severance Payment that may be made pursuant to this agreement that constitutes
“nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code and the guidance issued thereunder (‘Section 409A”) may be accelerated or deferred by the Company or by you.
Notwithstanding anything else to the contrary in this offer letter, to the extent that any of the payments that may be made hereunder constitute “nonqualified deferred compensation” within the meaning of Section 409A, and you are a
“specified employee” upon your separation from service (as defined under Section 409A), any such payment shall be delayed for six months following your separation from service date if, absent such delay, such payment

 

 
would otherwise be subject to penalty under Section 409A. In any event, the Company makes no representation or warranty and shall have no liability to you or to any other person if any
provisions of this letter agreement are determined to constitute “nonqualified deferred compensation” subject to Section 409A but do not satisfy the requirements of that section.” 

All other particulars in your agreement will remain in tact. 

 

	
	Very truly yours,
	
	/s/ Dean J. Breda
	 Dean J. Breda
 General
Counsel

 The foregoing correctly sets forth the terms of my employment with Zipcar, Inc. 

 

					
			
	/s/ Mark Norman	 		 	12/21/10
	Mark Norman	 		 	DateForm of Indemnification Agreement

 Exhibit 10.37 
 INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT (the “Agreement”) is
made and entered into as of [            ] [    ], 20     between Zipcar, Inc., a Delaware corporation (“the Company”), and
[            ] (“Indemnitee”). 
 WITNESSETH THAT:

 WHEREAS, Indemnitee performs a valuable service for the Company; and 

WHEREAS, the Board of Directors of the Company has approved the Seventh Amended and Restated Certificate of Incorporation of the Company
(the “Charter”) providing for the indemnification of the officers and directors of the Company to the maximum extent authorized by Section 145 of the Delaware General Corporation Law, as amended (“Law”); and 

WHEREAS, the Charter and the Law, by their nonexclusive nature, permit contracts between the Company and the officers or directors of the
Company with respect to indemnification of such officers or directors; and 
 WHEREAS, in accordance with the authorization as
provided by the Law, the Company may purchase and maintain a policy or policies of directors’ and officers’ liability insurance (“D & O Insurance”), covering certain liabilities which may be incurred by its officers
or directors in the performance of their obligations to the Company; and 
 WHEREAS, in order to induce Indemnitee to continue
to serve as an officer or director of the Company, the Company has determined and agreed to enter into this contract with Indemnitee; 
 NOW, THEREFORE, in consideration of Indemnitee’s service as an officer or director after the date hereof, the parties hereto agree as follows: 

1. Indemnity of Indemnitee. The Company hereby agrees to hold harmless and indemnify Indemnitee to the full extent authorized or
permitted by the provisions of the Law, as such may be amended from time to time, and of the Charter, as such may be amended. In furtherance of the foregoing indemnification, and without limiting the generality thereof: 

(a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification
provided in this Section l(a) if, by reason of his Corporate Status (as hereinafter defined), he is, or is threatened to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the right of
the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as hereinafter defined), judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him, or on his behalf, in
connection with such Proceeding or any claim, issue or matter therein, if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the 

 
Company, and with respect to any criminal Proceeding, had no reasonable cause to believe his conduct was unlawful. 
 (b) Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 1(b) if, by reason of his Corporate Status, he is, or is
threatened to be made, a party to or participant in any Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by him, or on his
behalf, in connection with such Proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company; provided, however, if applicable law so provides, no indemnification against
such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company unless and to the extent that the Court of Chancery of the State of Delaware shall
determine that such indemnification may be made. 
 (c) Indemnification for Expenses of a Party Who is Wholly or Partly
Successful. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, he shall be indemnified to the
maximum extent permitted by law against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one
or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue
or matter. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 2. Additional Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in
Section 1 of this Agreement, the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him or on his behalf if,
by reason of his Corporate Status, he is, or is threatened to be made, a party to or participant in any Proceeding (including a Proceeding by or in the right of the Company), including, without limitation, all liability arising out of the negligence
or active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee that is finally
determined (under the procedures, and subject to the presumptions, set forth in Sections 6 and 7 hereof) to be unlawful under Delaware law. 
 3. Contribution in the Event of Joint Liability. 
 (a) Whether or not the
indemnification provided in Sections 1 and 2 hereof is available, in respect of any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement of such action, suit or proceeding without requiring Indemnitee to contribute to 

  
 2 

 
such payment and the Company hereby waives and relinquishes any right of contribution it may have against Indemnitee. The Company shall not enter into any settlement of any action, suit or
proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee. 

(b) Without diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason,
Indemnitee shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such
action, suit or proceeding), the Company shall contribute to the amount of expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion to
the relative benefits received by the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and
Indemnitee, on the other hand, from the transaction from which such action, suit or proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further
adjusted by reference to the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one
hand, and Indemnitee, on the other hand, in connection with the events that resulted in such expenses, judgments, fines or settlement amounts, as well as any other equitable considerations which the Law may require to be considered. The relative
fault of the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other
hand, shall be determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and the degree to which their
conduct is active or passive. 
 (c) The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims
of contribution which may be brought by officers, directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee. 
 4. Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a witness in any Proceeding
to which Indemnitee is not a party, he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. 
 5. Advancement of Expenses. Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding by
reason of Indemnitee’s Corporate Status within thirty (30) days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final
disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by an undertaking by or on behalf

  
 3 

 
of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and undertakings to repay
pursuant to this Section 5 shall be unsecured and interest free. Notwithstanding the foregoing, the obligation of the Company to advance Expenses pursuant to this Section 5 shall be subject to the condition that, if, when and to the extent
that the Company determines that Indemnitee would not be permitted to be indemnified under applicable law, the Company shall be entitled to be reimbursed, within thirty (30) days of such determination, by Indemnitee (who hereby agrees to
reimburse the Company) for all such amounts theretofore paid; provided, however, that if Indemnitee has commenced or thereafter commences legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be
indemnified under applicable law, any determination made by the Company that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any advance
of Expenses until a final judicial determination is made with respect thereto (and as to which all rights of appeal therefrom have been exhausted or lapsed). 
 6. Procedures and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as favorable as may be
permitted under the Law and public policy of the State of Delaware. Accordingly, the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee is entitled to indemnification under
this Agreement: 
 (a) To obtain indemnification (including, but not limited to, the advancement of Expenses and contribution
by the Company) under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine
whether and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors in writing that Indemnitee has requested
indemnification. 
 (b) Upon written request by Indemnitee for indemnification pursuant to the first sentence of
Section 6(a) hereof, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following three methods, which shall be at the election of the Board of
Directors: (1) by a majority vote of the disinterested directors, even though less than a quorum, (2) by independent legal counsel in a written opinion or (3) by the stockholders. 

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

  
 4 

 
objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written
objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days after
submission by Indemnitee of a written request for indemnification pursuant to Section 6(a) hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Court of Chancery of the
State of Delaware or other court of competent jurisdiction for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel
of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 6(b) hereof.
The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 6(b) hereof, and the Company shall pay all reasonable fees and expenses
incident to the procedures of this Section 6(c), regardless of the manner in which such Independent Counsel was selected or appointed. 
 (d) In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall presume that Indemnitee is entitled to
indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 

(e) Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of
the Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise (as hereinafter defined) in the course of their duties, or on the advice of legal counsel for the Enterprise or on information
or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise. In addition, the knowledge and/or actions, or failure to act, of any
director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing provisions of this Section 6(e) are satisfied,
it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have the
burden of proof and the burden of persuasion by clear and convincing evidence. 
 (f) If the person, persons or entity
empowered or selected under Section 6 to determine whether Indemnitee is entitled to indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary
to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended
for a reasonable time, not to exceed an additional thirty (30) days, if the person, 

  
 5 

 
persons or entity making such determination with respect to entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation and/or information
relating thereto; and provided, further, that the foregoing provisions of this Section 6(f) shall not apply if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 6(b) of this Agreement
and if (A) within fifteen (15) days after receipt by the Company of the request for such determination, the Board of Directors or the Disinterested Directors, if appropriate, resolve to submit such determination to the stockholders for
their consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days after
such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having been so called and such determination is made thereat. 

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

(h) The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to
avoid expense, delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without
limitation, settlement of such action, claim or proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits or otherwise in such action, suit or proceeding. Anyone
seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 
 7. Remedies of Indemnitee. 
 (a) In the event that (i) a determination
is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no
determination of entitlement to indemnification is made pursuant to Section 6(b) of this Agreement within 90 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to this
Agreement within ten (10) days after receipt by the Company of a written request therefor or (v) payment of indemnification is not made within ten (10) days after a determination has been made that Indemnitee is entitled to
indemnification or such determination is deemed to have been made pursuant to Section 6 of this 

  
 6 

 
Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of his entitlement to such
indemnification. Indemnitee shall commence such proceeding seeking an adjudication within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The Company shall not
oppose Indemnitee’s right to seek any such adjudication. 
 (b) In the event that a determination shall have been made
pursuant to Section 6(b) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial on the merits, and
Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b). 
 (c) If a determination
shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent a
prohibition of such indemnification under applicable law. 
 (d) In the event that Indemnitee, pursuant to this Section 7,
seeks a judicial adjudication of his rights under, or to recover damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies maintained by the Company, the Company shall pay on his
behalf, in advance, any and all expenses (of the types described in the definition of Expenses in Section 13 of this Agreement) actually and reasonably incurred by him in such judicial adjudication, regardless of whether Indemnitee ultimately
is determined to be entitled to such indemnification, advancement of expenses or insurance recovery. 
 (e) The Company shall
be precluded from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is
bound by all the provisions of this Agreement. 
 8. Non-Exclusivity; Survival of Rights; Insurance; Subrogation.

 (a) The rights of indemnification as provided by this Agreement shall not be deemed exclusive of any other rights to which
Indemnitee may at any time be entitled under applicable law, the Charter, the bylaws of the Company, any agreement, a vote of stockholders, a resolution of directors or otherwise. No amendment, alteration or repeal of this Agreement or of any
provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in
the Law, whether by statute or judicial decision, permits greater indemnification than would be afforded currently under the Charter and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder
or now or hereafter existing at law or in equity or otherwise. The assertion or employment of 

  
 7 

 
any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 

(b) To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
employees, or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise that such person serves at the request of the Company, Indemnitee shall be covered by such
policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under such policy or policies. 

(c) In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 

(d) The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the
extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. In the event the Company makes any indemnification payments to the Indemnitee and the Indemnitee is subsequently
reimbursed from the proceeds of insurance, the Indemnitee shall promptly refund such indemnification payments to the Company to the extent of such insurance reimbursement. 
 (e) The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, employee or agent of any other
corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of expenses from such other corporation, partnership, joint
venture, trust, employee benefit plan or other Enterprise. 
 9. Exception to Right of Indemnification. Notwithstanding
any other provision of this Agreement, Indemnitee shall not be entitled to indemnification under this Agreement with respect to any Proceeding brought by Indemnitee, or any claim therein, unless (a) the bringing of such Proceeding or making of
such claim shall have been approved by the Board of Directors of the Company or (b) such Proceeding is being brought by Indemnitee to assert, interpret or enforce his rights under this Agreement. Notwithstanding any provision in this Agreement,
the Company shall not be obligated under this Agreement to make any indemnity in connection with any claim made against Indemnitee for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the
Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common law. 
 10. Duration of Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an officer or director of the Company (or is or was serving
at the request of the Company as a director, officer, employee or 

  
 8 

 
agent of another corporation, partnership, joint venture, trust or other Enterprise) and shall continue thereafter so long as Indemnitee shall be subject to any Proceeding (or any proceeding
commenced under Section 7 hereof) by reason of his Corporate Status, whether or not he is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement.

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

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

(b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof. 
 13. Definitions. For purposes of this Agreement: 
 (a) “Corporate
Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise that such person
is or was serving at the express written request of the Company. 
 (b) “Disinterested Director” means a director of
the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee. 

(c) “Enterprise” shall mean the Company and any other corporation, partnership, joint venture, trust, employee benefit plan or
other Enterprise that Indemnitee is or was serving at the express written request of the Company as a director, officer, employee, agent or fiduciary. 
 (d) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and
binding costs, telephone charges, postage, delivery service fees and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, participating, or
being or preparing to be a witness in a Proceeding. 

  
 9 

 (e) “Independent Counsel” means a law firm, or a member of a law firm, that is
experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters
concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the
term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to
determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages
arising out of or relating to this Agreement or its engagement pursuant hereto. 
 (f) “Proceeding” includes any
threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the
Company or otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee was, is or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of the Company, by
reason of any action taken by him or of any inaction on his part while acting as an officer or director of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, employee, agent or
fiduciary of another corporation, partnership, joint venture, trust or other Enterprise; in each case whether or not he is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be
provided under this Agreement; including one pending on or before the date of this Agreement, but excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce his rights under this Agreement. 

14. Severability. If any provision or provisions of this Agreement shall be held by a court of competent jurisdiction to be
invalid, void, illegal or otherwise unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any section of this
Agreement containing any such provision held to be invalid, illegal or unenforceable that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent
permitted by law; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable
that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby. Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification
rights to the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve
such conflict. 
 15. Modification and Waiver. No supplement, modification, termination or amendment of this Agreement
shall be binding unless executed in writing by both of the parties 

  
 10 

 
hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute
a continuing waiver. 
 16. Notice By Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being
served with or otherwise receiving any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification covered hereunder. The failure to so notify the
Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially prejudices the Company. 

17. Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have
been duly given if (i) delivered by hand and received by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after
the date on which it is so mailed: 
 (a) If to Indemnitee, to the address set forth below Indemnitee signature hereto.

 If to the Company, to: 
 Zipcar, Inc. 
 25 First Street, Fourth Floor 

Cambridge, MA 02141, 
 Attention: General Counsel 
 or to such other address as may have been furnished to Indemnitee by
the Company or to the Company by Indemnitee, as the case may be. 
 18. Identical Counterparts. This Agreement may be
executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability
is sought needs to be produced to evidence the existence of this Agreement. 
 19. Headings. The headings of the
paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 
 20. Governing Law. The parties agree that this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware without application of the conflict
of laws principles thereof. 
 21. Gender. Use of the masculine pronoun shall be deemed to include usage of the feminine
pronoun where appropriate. 
 [Remainder of Page Intentionally Left Blank] 

  
 11 

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

			
	COMPANY
	
	ZIPCAR, INC.
		
	By:	 	  

		 	Scott W. Griffith
		 	President and Chief Executive Officer
	
	INDEMNITEE
	
	  
 Name:

	
	Address:

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