Document:

Exhibit

Exhibit 10.1
SEVERANCE AND CHANGE IN CONTROL AGREEMENT
This Severance and Change in Control Agreement, including the Executive Addendum attached hereto (collectively, the “Agreement”), is entered into by and between ______________ (the “Executive”) and Alteryx, Inc., a Delaware corporation (the “Company”) with effect ______________, 2020 (the “Effective Date”).  [This Agreement supersedes and replaces in its entirety the Severance and Change in Control Agreement, including the Executive Addendum attached thereto, previously entered into by and between Executive and the Company dated ______________, 20[____].]  
1.TERM OF AGREEMENT.
Except to the extent renewed as set forth in this Section 1, this Agreement shall terminate the earlier of (i) the two (2) year anniversary of the Effective Date (the “Expiration Date”), (ii) the date the Executive’s employment with the Company terminates for a reason other than a Qualifying Termination as described below or (iii) the date the Company has met all of its obligations under this Agreement following a Qualifying Termination of the Executive’s employment; provided, that, if there occurs a Potential Change in Control on or before the Expiration Date, then this Agreement shall remain in effect through the earlier of:
(a)    the date the Executive’s employment with the Company terminates for a reason other than a Qualifying Termination as described below; or
(b)    the date the Company has met all of its obligations under this Agreement following a following a Qualifying Termination of the Executive’s employment.
This Agreement shall expire on the Expiration Date, unless renewed by the Board in its discretion.
2.SEVERANCE BENEFIT.
Any other provision of this Agreement notwithstanding, Executive’s receipt of any payments or benefits under this Section 2 is subject to Executive’s delivery to the Company of a general release (in a form prescribed by the Company and provided to other executives similarly situated) of all known and unknown claims that he or she may then have against the Company or persons affiliated with the Company (the “Release”), and satisfaction of all conditions to make the Release effective, within sixty (60) days following Executive’s Qualifying Termination (such sixty (60) day period, the “Release Period”).  In no event will any payment or benefits under this Agreement be paid or provided until the Release becomes effective and irrevocable.  
Payment of the severance payment and health care benefits pursuant Section 2(a)(i) and (ii) and Section 2(b)(i) and (ii), as applicable, shall be made in monthly installments, beginning in the first payroll period following expiration of the Release Period, with any payments that would have occurred during the Release Period, but for the immediately preceding paragraph, payable in a lump sum without interest on the first payment date, and all other amounts payable in accordance with the payment schedule described above.  

        

(a)    Other than During a Change in Control Period.  If the Executive is subject to a Qualifying Termination other than during a Change in Control Period, the Executive shall be entitled to the following:   
(i)    Severance Payments.    The Company shall pay the Executive the Severance Multiple (Other than During a Change in Control Period) as defined in the Executive Addendum.  To the extent the foregoing amount is payable under Section 2(b), it will not be paid under this Section 2(a).  
(ii)    Health Care Benefit.    If the Executive elects to continue his or her health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) following the termination of his or her employment, then the Company shall pay the Executive’s monthly premium under COBRA until the earliest of (A) the COBRA Continuation Period (Other than During a Change in Control Period) as defined in the Executive Addendum, (B) the date when the Executive receives similar coverage with a new employer or (C) the expiration of the Executive’s continuation coverage under COBRA.
(b)    During a Change in Control Period.  If the Executive is subject to a Qualifying Termination during a Change in Control Period, the Executive shall be entitled to the following:  
(i)    Severance Payments.     The Company shall pay the Executive an amount equal to the sum of (A) the Severance Multiple (During a Change in Control Period) as defined in the Executive Addendum, provided that, to the extent the foregoing amount is payable under Section 2(a), it will not be paid under this Section 2(b) and (B) one-hundred percent (100%) of the Executive’s annual target bonus opportunity at the rate in effect when the Qualifying Termination occurred or when the Change in Control occurred, whichever is greater.
(ii)    Health Care Benefit.    If the Executive elects to continue his or her health insurance coverage under COBRA following the termination of his or her employment, then the Company shall pay the Executive’s monthly premium under COBRA until the earliest of (1) the COBRA Continuation Period (During a Change in Control Period) as defined in the Executive Addendum, (2) the date when the Executive receives similar coverage with a new employer or (3) the expiration of the Executive’s continuation coverage under COBRA.
(iii)    Equity.  
(1)    Each of Executive’s then-outstanding unvested Equity Awards, other than Performance Awards (defined below), shall accelerate and become vested and exercisable or settleable with respect 100% of the then-unvested shares subject thereto.  With respect to awards that would otherwise vest only upon satisfaction of performance criteria (“Performance Awards”), then the vesting will accelerate as set forth in the terms of the applicable performance-based Equity Award agreement.  Subject to Section 2(d), the accelerated vesting described above shall be effective as of the Qualifying Termination; provided, that, if the Qualified Termination during a Change in Control Period occurs prior to the Change in Control, then any unvested portion of the terminated Executive’s Equity Awards will remain outstanding for three (3) months following the Qualifying Termination (provided that in no event will the terminated Executive’s Equity Awards remain outstanding beyond the expiration of the Equity Award’s maximum term).  In the event that the proposed Change in Control is terminated without having been completed, any unvested portion of the terminated Executive’s Equity Awards automatically will be forfeited permanently without having vested effective three (3) months following the Executive’s Qualifying Termination.   
(2)    Notwithstanding anything to the contrary, if the successor or acquiring corporation (if any) of the Company refuses to assume, convert, replace or substitute Executive’s unvested Equity Awards, as 

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provided in Section 21.1 of the Company’s 2017 Equity Incentive Plan (the “2017 Plan”), in connection with a Corporate Transaction (as defined in the Plan), or as provided in Section 12 of the Company’s 2013 Stock Plan (the “2013 Plan” and together with the 2017 Plan, the “Plans”) in connection with a Change of Control (as defined in the 2013 Plan) then notwithstanding any other provision in this Agreement, the Plans or any Equity Award Agreement to the contrary, each of Executive’s then-outstanding and unvested Equity Awards, other than Performance Awards, that are not assumed, converted, replaced or substituted, shall accelerate and become vested and exercisable as to 100% of the then-unvested shares subject to the Equity Awards effective immediately prior to the Corporate Transaction or Change of Control, as applicable and terminate to the extent not exercised (as applicable) upon the Corporate Transaction or Change of Control, as applicable.  With respect to Performance Awards, the vesting for such Performance Awards will accelerate as set forth in the terms of the applicable performance-based Equity Award agreement.
(c)    Special Cash Payments in Lieu of COBRA Premiums.  Notwithstanding Section 2(a)(ii) or Section 2(b)(ii) above, if the Executive is eligible for, and the Company determines, in its sole discretion, that it cannot pay, the COBRA premiums without a substantial risk of violating applicable law (including Section 2716 of the Public Health Service Act), the Company instead shall pay to the Executive a fully taxable cash payment equal to the applicable COBRA premiums (including premiums for the Executive and the Executive’s eligible dependents who have elected and remain enrolled in such COBRA coverage), subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the period the Executive remains eligible for the benefit under Section 2(a)(ii) or Section 2(b)(ii) above.  The Executive may, but is not obligated to, use such Special Cash Payments toward the cost of COBRA premiums.  Notwithstanding the foregoing, the number of months included in the Special Cash Payment to be paid, in any case, shall be reduced by the number of months of COBRA premiums previously paid by the Company.
(d)    Accrued Compensation and Benefits.  In connection with any termination of employment prior to, upon or following a Change in Control (whether or not a Qualifying Termination), the Company shall pay Executive’s earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the termination of employment, including unused earned vacation pay and unreimbursed documented business expenses incurred by Executive through and including the date of termination (collectively “Accrued Compensation and Expenses”), as required by law and the applicable Company plan or policy. In addition, Executive shall be entitled to any other vested benefits earned by Executive for the period through and including the termination date of Executive’s employment under any other employee benefit plans and arrangements maintained by the Company, in accordance with the terms of such plans and arrangements, except as modified herein (collectively “Accrued Benefits”).  Any Accrued Compensation and Expenses to which the Executive is entitled shall be paid to the Executive in cash as soon as administratively practicable after the termination, and, in any event, no later than two and one-half (2-1/2) months after the end of the taxable year of the Executive in which the termination occurs.  Any Accrued Benefits to which the Executive is entitled shall be paid to the Executive as provided in the relevant plans and arrangement.
3.    COVENANTS.
(a)    Non-Competition.  The Executive agrees that, during his or her employment with the Company, he or she shall not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company. 
(b)    Non-Solicitation.  The Executive agrees that, during his or her employment with the Company and for a one (1) year period thereafter, her or she will not directly or indirectly solicit away employees or 

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consultants of the Company for his or her own benefit or for the benefit of any other person or entity, nor will the Executive encourage or assist others to do so.   
(c)    Cooperation and Non-Disparagement.  The Executive agrees that, during the twelve (12) month period following his or her cessation of employment, he or she shall cooperate with the Company in every reasonable respect and shall use his or her best efforts to assist the Company with the transition of Executive’s duties to his or her successor.  The Executive further agrees that, during this twelve (12) month period, he or she shall not in any way or by any means disparage the Company, the members of the Board or the Company’s officers and employees.
This Section 3 shall in no manner limit obligations of the Executive under any other agreement between the Company and the Executive in any manner; provided, that, to the extent the terms of this Section 3 directly conflict with the terms of any such agreement, the agreement containing the most Company-favorable terms that are enforceable shall govern.  
4.    DEFINITIONS.
(a)    “Board” means the Company’s Board of Directors.
(b)    “Cause” means (i) the Executive has been convicted of, or has pleaded guilty or nolo contendere to, any felony or crime involving moral turpitude, (ii) the Executive has engaged in willful misconduct which is injurious to the Company or materially failed or refused to perform the material duties lawfully and reasonably assigned to the Executive or has performed such material duties with gross negligence or has breached any material term or condition of this Agreement, the Executive’s Confidential Information and Invention Assignment Agreement with the Company or any other material agreement with the Company, in any case after written notice by the Company of such misconduct, performance issue, gross negligence or breach of terms or conditions and an opportunity to cure within thirty (30) days of such written notice thereof from the Company, unless such misconduct, performance issue, gross negligence or breach is, by its nature, not curable, or (iii) the Executive has committed any act of fraud, theft, embezzlement, misappropriation of funds, breach of fiduciary duty or other willful act of material dishonesty against the Company that results in material harm to the Company.  
(c)    “Code” means the Internal Revenue Code of 1986, as amended.
(d)    “Change in Control” means the occurrence of any of the following events: (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%)  of the total voting power represented by the Company’s then outstanding voting securities; or (ii) the consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets; or (iii) the consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation.
(e)    “Change in Control Period” means the period commencing three (3) months prior to a Change in Control (only if after a Potential Change in Control) and ending twelve (12) months following a Change in Control.

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(f)    “Equity Awards” means all options to purchase shares of Company common stock as well as any and all other stock-based awards granted to the Executive, including but not limited to stock bonus awards, restricted stock, restricted stock units (“RSUs”) or stock appreciation rights.    
(g)    “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
(h)    “Good Reason” means the occurrence of any of the following events or conditions, without Executive’s express written consent:
		
	(i)
	a material reduction in Executive’s base salary as an employee of the Company, except to the extent that the Company implements an equal percentage reduction applicable to all executive officers and management personnel; 

		
	(ii)
	a material reduction in the Executive’s duties, responsibilities or authority at the Company; 

		
	(iii)
	a change in the geographic location at which Executive must perform services which results in an increase in the one-way commute of Executive by more than 50 miles; or

		
	(iv)
	a successor of the Company as set forth in Section 5(a) hereof does not assume this Agreement.

With respect to each of subsection (i), (ii), (iii) and (iv) above, Executive must provide notice to the Company of the condition giving rise to “Good Reason” within ninety (90) days of the initial existence of such condition, and the Company will have thirty (30) days following such notice to remedy such condition.  Executive must resign Executive’s employment no later than thirty (30) days following expiration of the Company’s thirty (30) day cure period.  
(i)    “Potential Change in Control” means the date of execution of a definitive agreement providing for a Change in Control if such transaction is consummated.  
(j)    “Qualifying Termination” means a Separation resulting from (i) a termination by the Company of the Executive’s employment for any reason other than Cause, or (ii) a voluntarily resignation by the Executive of his or her employment for Good Reason.  Termination due to Executive’s death or Executive’s disability will not constitute a Qualifying Termination.
(k)    “Separation” means a “separation from service,” as defined in the regulations under Section 409A of the Code.
5.    SUCCESSORS.
(a)    Company’s Successors.  The Company shall require any successor (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets, by an agreement in substance and form satisfactory to the Executive, to assume this Agreement and to agree expressly to perform this Agreement in the same manner and to the same extent as the Company would be required to perform it in the absence of a succession.  For all purposes under this Agreement, the term “Company” shall include any successor to the Company’s business and/or assets or which becomes bound by this Agreement by operation of law.  

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(b)    Executive’s Successors.  This Agreement and all rights of the Executive hereunder shall inure to the benefit of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.
6.    GOLDEN PARACHUTE TAXES.
(a)    Best After-Tax Result.  In the event that any payment or benefit received or to be received by Executive pursuant to this Agreement or otherwise (“Payments”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but for this subsection (a), be subject to the excise tax imposed by Section 4999 of the Code, any successor provisions, or any comparable federal, state, local or foreign excise tax (“Excise Tax”), then, subject to the provisions of Section 6(b) hereof, such Payments shall be either (A) provided in full pursuant to the terms of this Agreement or any other applicable agreement, or (B) provided as to such lesser extent which would result in no portion of such Payments being subject to the Excise Tax (“Reduced Amount”), whichever of the foregoing amounts, taking into account the applicable federal, state, local and foreign income, employment and other taxes and the Excise Tax (including, without limitation, any interest or penalties on such taxes), results in the receipt by Executive, on an after-tax basis, of the greatest amount of payments and benefits provided for hereunder or otherwise, notwithstanding that all or some portion of such Payments may be subject to the Excise Tax.  Unless the Company and Executive otherwise agree in writing, any determination required under this Section shall be made by independent tax counsel designated by the Company and reasonably acceptable to Executive (“Independent Tax Counsel”), whose determination shall be conclusive and binding upon Executive and the Company for all purposes.  For purposes of making the calculations required under this Section 6(a), Independent Tax Counsel 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; provided that Independent Tax Counsel shall assume that Executive pays all taxes at the highest marginal rate.  The Company and Executive shall furnish to Independent Tax Counsel such information and documents as Independent Tax Counsel may reasonably request in order to make a determination under this Section.  The Company shall bear all costs that Independent Tax Counsel may reasonably incur in connection with any calculations contemplated by this Section.  In the event that Section 6(a)(ii)(B) above applies, then based on the information provided to Executive and the Company by Independent Tax Counsel, Executive may, in Executive’s sole discretion and within 30 days of the date on which Executive is provided with the information prepared by Independent Tax Counsel, determine which and how much of the Payments (including the accelerated vesting of equity compensation awards) to be otherwise received by Executive shall be eliminated or reduced (as long as after such determination the value (as calculated by Independent Tax Counsel in accordance with the provisions of Sections 280G and 4999 of the Code) of the amounts payable or distributable to Executive equals the Reduced Amount).  If the Internal Revenue Service (the “IRS”) determines that any Payment is subject to the Excise Tax, then Section 6(b) hereof shall apply, and the enforcement of Section 6(b) shall be the exclusive remedy to the Company.
(b)    Adjustments.  If, notwithstanding any reduction described in Section 6(a) hereof (or in the absence of any such reduction), the IRS determines that Executive is liable for the Excise Tax as a result of the receipt of one or more Payments, then Executive shall be obligated to surrender or pay back to the Company, within 120 days after a final IRS determination, an amount of such payments or benefits equal to the “Repayment Amount.”  The Repayment Amount with respect to such Payments shall be the smallest such amount, if any, as shall be required to be surrendered or paid to the Company so that Executive’s net proceeds with respect to such Payments (after taking into account the payment of the Excise Tax imposed on such Payments) shall be maximized.  Notwithstanding the foregoing, the Repayment Amount with respect to such Payments shall be zero if a Repayment Amount of more than zero would not eliminate the Excise Tax imposed on such Payments or if a Repayment Amount of more than zero would not maximize the net amount received by 

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Executive from the Payments.  If the Excise Tax is not eliminated pursuant to this Section 6(b), Executive shall pay the Excise Tax.  
7.    MISCELLANEOUS PROVISIONS.
(a)    Section 409A.  For purposes of Section 409A of the Code, if the Company determines that Executive is a “specified employee” under Code Section 409A(a)(2)(B)(i) at the time of a Separation, then (i) the severance benefits under Section 2, to the extent subject to Code Section 409A, will commence during the seventh month after the Executive’s Separation and (ii) will be paid in a lump sum on the earliest practicable date permitted by Section 409A(a)(2) of the Code.  Any termination of Executive’s employment is intended to constitute a Separation from Service and will be determined consistent with the rules relating to a “separation from service” as such term is defined in Treasury Regulation Section 1.409A-1.  It is intended that each installment of the payments provided hereunder constitute separate “payments” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i).  It is further intended that payments hereunder satisfy, to the greatest extent possible, the exemption from the application of Section 409A of the Code (and any state law of similar effect) provided under Treasury Regulation Section 1.409A-1(b)(4) (as a “short-term deferral”).  To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision will be read in such a manner so that all payments hereunder comply with Section 409A of the Code.  Except as otherwise expressly provided herein, to the extent any expense reimbursement or the provision of any in-kind benefit under this Policy is determined to be subject to 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 in any other taxable year (except for any lifetime or other aggregate limitation applicable to medical expenses), in no event shall any expenses be reimbursed after the last day of the calendar year following the calendar year in which Executive 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. 
(b)    Other Severance Arrangements.  Except as otherwise specified herein, this Agreement represents the entire agreement between you and the Company with respect to any and all severance arrangements, vesting acceleration arrangements and post-termination stock option exercise period arrangements, and supersedes and replaces any and all prior verbal or written discussions, negotiations and/or agreements between the Executive and the Company relating to the subject matter hereof, including but not limited to, any and all prior agreements governing any Equity Award, severance and salary continuation arrangements, programs and plans which were previously offered by the Company to the Executive, and change in control and severance arrangements pursuant to an employment agreement or offer letter, and Executive hereby waives Executive’s rights to any and all such other severance or acceleration payments or benefits, as applicable.  
(c)    Dispute Resolution.  To ensure rapid and economical resolution of any and all disputes that might arise in connection with this Agreement, Executive and the Company agree that any and all disputes, claims, and causes of action, in law or equity, arising from or relating to this Agreement or its enforcement, performance, breach, or interpretation, will be resolved solely and exclusively by final, binding, and confidential arbitration, by a single arbitrator, in Orange County, CA, and conducted by the American Arbitration Association under its then-existing employment rules and procedures. Nothing in this section, however, is intended to prevent either party from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration.  Each party to an arbitration or litigation hereunder shall be responsible for the payment of its own attorneys’ fees.

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(d)    Notice.  Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid or deposited with Federal Express Corporation, with shipping charges prepaid.  In the case of the Executive, mailed notices shall be addressed to him or her at the home address which he or she most recently communicated to the Company in writing.  In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary.
(e)    Amendment; Waiver.  This Agreement may not be amended or waived except by a writing signed by Executive and by a duly authorized representative of the Company other than Executive.  No provision of this Agreement shall be modified, waived, superseded or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Executive and by an authorized officer of the Company (other than the Executive) and, to the extent it supersedes this Agreement, that this Agreement is referred to by date.  No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.
(f)    Withholding Taxes.  All payments made under this Agreement shall be subject to reduction to reflect taxes or other charges required to be withheld by law.
(g)    Severability.  The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.
(h)    No Retention Rights.  Nothing in this Agreement shall confer upon the Executive any right to continue in service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company or any subsidiary of the Company or of the Executive, which rights are hereby expressly reserved by each, to terminate his or her service at any time and for any reason, with or without Cause.
(i)    Choice of Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California (other than their choice-of-law provisions).

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, each of the parties has executed this Severance and Change in Control Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.
	
			
	 
	ALTERYX, INC.

	________________________________
	 

	[Name]
	By:
	 

	 
	Title:
	 

[SIGNATURE PAGE TO THE SEVERANCE AND CHANGE IN CONTROL AGREEMENT]

EXECUTIVE ADDENDUM TO THE
SEVERANCE AND CHANGE IN CONTROL AGREEMENT
This Executive Addendum incorporates and is governed by the Severance and Change in Control Agreement by and between ______________ (the “Executive”) and Alteryx, Inc., a Delaware corporation (the “Company”).  Collectively, these documents are referred to as the “Agreement”.     
QUALIFYING TERMINATION OTHER THAN DURING A CHANGE IN CONTROL PERIOD
Severance Multiple (Other than During a Change in Control Period)
As used in Section 2(a)(i) of the Agreement, the “Severance Multiple (Other than During a Change in Control Period)” shall mean:  ______ months of the Executive’s base salary at the rate in effect when the Qualifying Termination occurred.   [For CEO: 12 months; For CEO direct reports that are founders: 12 months; For other CEO direct reports: 9 months]
COBRA Continuation Period (Other than During a Change in Control Period)
As used in Section 2(a)(ii) of the Agreement, the “COBRA Continuation Period (Other than During a Change in Control Period)” shall mean:  _______ months. [For CEO: 12 months; For CEO direct reports that are founders: 12 months; For other CEO direct reports: 9 months]
QUALIFYING TERMINATION DURING A CHANGE IN CONTROL PERIOD
Severance Multiple (During a Change in Control Period)
As used in Section 2(b)(i) of the Agreement, the “Severance Multiple (During a Change in Control Period)” shall mean:  ______ months of the Executive’s base salary at the rate in effect when the Qualifying Termination occurred or when the Change in Control occurred, whichever is greater.  [For CEO: 18 months; For all CEO direct reports: 12 months]
COBRA Continuation Period (During a Change in Control Period)
As used in Section 2(b)(ii) of the Agreement, the “COBRA Continuation Period (During a Change in Control Period)” shall mean:  _______ months.  [For CEO: 18 months; For all CEO direct reports: 12 months]

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, each of the parties has executed this Executive Addendum to the Severance and Change in Control Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.
	
			
	 
	ALTERYX, INC.

	________________________________
	 

	[Name]
	By:
	 

	 
	Title:
	 

[SIGNATURE PAGE TO THE EXECUTIVE ADDENDUM TO THE
SEVERANCE AND CHANGE IN CONTROL AGREEMENT]

8ex-10.7

   
 489 Fifth Avenue, 33rd Floor
 New York, New York 10017
 (212) 867-3200 (tel) / (212) 867-7515 (fax)
  
 April 17, 2020
  
 CONFIDENTIAL
  
 Via Email
  
 United Capital Consultants Inc.
 3210 East Coralbell Avenue
 Mesa, AZ 85205
  
 	 Attn:
	 Mr. Clayton Patterson, CEO

	  
	 Mr. Harold Patterson, CFO

	  
	  

	 RE:
	 Engagement of Westwood Capital

  
 Dear Sirs:
  
 Pursuant to our ongoing discussions, this letter (“Agreement”) sets forth the terms and conditions under which United Capital Consultants Inc., a corporation formed under the laws of Delaware (“you”, “UCC” or the “Company”) retains Westwood Capital, LLC, a Delaware limited liability company (“Westwood” or “we”) to provide investment banking, placement and advisory services for project financing in connection with the transaction described herein, with the scope of such project financing services as described herein.
  
 Based on our discussions, we understand UCC has identified five projects in Thailand with a total estimated acquisition cost of approximately US$140,000,000 and discussions are underway on all with a deposit placed on one and non-binding price agreements on several others. UCC seeks to raise, in a series of transactions, an appropriate mix of equity and debt capital to complete the acquisition of these projects as well as additional projects it expects to develop in subsequent stages. UCC was formally known as “Thicket Sound Acquisition Corporation” under the laws of Delaware.
  
 For purposes of this Agreement, the term “Project Financing” includes, but is not limited to, raising equity, preferred equity, subordinated debt, senior debt or other interests in project company(s), which results in a financial closing and funding in accordance with such terms. The arranging, closing and funding of one or more of the identified projects indicated above or others that may arise during the course of the engagement in one or a series may be referred to below each as a “Transaction” or, if in the form of multiple financings and/or transactions, as “Transactions.”
  
  
  
  
 
 
 	 United Capital Consultants
	 April 17, 2020

	 Confidential
	 Page 2 of 8

 
 Scope of Engagement: In connection with this Agreement, Westwood will do the following, as appropriate:
  
 Phase One: Due Diligence and Modeling Services
  
 1.Conduct a due diligence review and financial analysis of the Company; 
  
 2.Advise the Company in connection with (a) its business model, expansion plan and capital raising strategy, so as to optimize capital market receptivity of the proposed Project Financing, and (b) the structure of a Transaction; 
  
 3.Consult with the Company as to the type and amount of Financing and the timing, subscription provisions, and conditions precedent to a Transaction; 
  
 4.Advise the Company on the valuation of the projects and on the pricing model that may be applied in a Transaction; 
  
 Phase Two: Financing Services
  
 5.Consult with the Company and jointly determine the preferred Financing strategy to pursue and assist the Company in the preparation of necessary presentation material and documentation in connection with the Transaction(s) based on the information received from the Company; 
  
 6.Assist the Company in identifying multiple sources of funding (including (but not limited to) domestic and international major banking, non-bank financial and investment banking institutions (acting as principals, underwriters or “public-style” placement agents), life insurance companies, investment funds, hedge funds, strategic companies and other principals (collectively, “Potential Investor(s)”); 
  
 7.In an orderly fashion, present the Company and its business plans to Potential Investors as have been identified by Westwood (or the Company, should the Company designate Potential Investors) to solicit interest in providing financing for and investing in the Transaction(s); 
  
 8.Assist the Company in its further negotiations with the Potential Investors; and 
  
 9.Assist the Company, its legal counsel and other parties to the Transaction(s) in the negotiation of definitive documentation for and the closing of the Transaction(s). 
  
 It is understood and agreed that Westwood may assign any of the services above that do not require a regulated broker-dealer to execute, including the Due Diligence and Modeling Services, to its corporate affiliates.
  
 The above noted Financing Services and Transaction Fees (noted below) are subject to the completion of the due diligence and modeling services.
  
 Regulatory and Other Due Diligence: As a registered broker-dealer, Westwood is required to abide by certain due diligence and anti-money laundering regulations, including but not limited to, the collection and verification of the beneficial owners of the Company who own, control and profit from the Company. Company agrees to provide such verification information, including but not limited to those requested under its New Client Questionnaire, and assist in Westwood’s compliance of such due diligence and anti-money laundering regulations as it relates to the Company.
  
  
 
 
 	 United Capital Consultants
	 April 17, 2020

	 Confidential
	 Page 3 of 8

 
 Company and Westwood will comply with all applicable laws, rules, regulations, and registration requirements for all offers and sales of securities. Westwood will be able to rely on Company with respect to blue sky matters, and for updating, amending and supplementing legal documents and filings as required by applicable laws.
  
 Westwood’s obligations to act as financial advisor and placement agent to the Company in connection with any Transaction are subject to certain continuing conditions including (i) the results of the due diligence, the Company, its business plans and principal officers, directors and shareholders being satisfactory in all material respects to Westwood, and (ii) the absence of any material adverse change in the business or financial condition of the Company its principal members, directors or officers, and (iii) the timely payment by the Company of fees and expenses to Westwood when such fees and expenses are due and payable as set forth below.
  
 Exclusivity: In connection with any Project Financing or communications with the Potential Investors, the Company agrees that Westwood will serve as its exclusive advisor and placement agent, and that the Company will not negotiate with any other party with respect to any such Transaction other than with and through Westwood. Company will not allow any other party to participate in the Transaction without Westwood’s prior written consent. The forgoing shall not be deemed a prohibition against the Company obtaining tax or legal advice from its representatives.
  
 The Company represents and warrants that there is no finder or any other third-party due compensation from Westwood or the Company in connection with this Agreement or any Transaction. Westwood may decline to participate in the Transaction if it reasonably determines that the Transaction has become impractical or undesirable.
  
 Representations, Warranties, Confidentiality and Indemnification: The Company agrees to furnish Westwood with all information and documentation relating to the Financing(s) and Transaction, the Company and its principal shareholders, directors and officers, as Westwood may from time to time request during the term of this Agreement. The Company will furnish to Westwood such information and the Company authorizes Westwood to transmit definitive documents to Potential Investors and their representatives. The Company represents and warrants that any such information or materials when furnished to Westwood, whether furnished in oral, written, electronic or other format, will not include any untrue statements of material fact or omit to state any material facts required to be stated therein if necessary to make the statements made therein, in light of the circumstances under which they are made, not materially misleading at the time provided. If such information becomes materially inaccurate, incomplete or misleading during the term of this Agreement, the Company shall promptly so advise Westwood in writing and correct any such inaccuracy or omission. The Company acknowledges and confirms that Westwood does not assume responsibility for the accuracy or completeness of such information provided hereunder and that Westwood will rely upon such information without independent verification of the accuracy or completeness thereof or independent evaluation of any of the assets or liabilities of the Company. Westwood has not made and may not make any physical inspection of the properties or assets of Company or of the projects, although it reserves the right to do so, and Westwood will assume that any financial forecasts furnished to or discussed with Westwood by Company have been reasonably prepared and reflect the best estimates and judgments of management. The Company acknowledges that Westwood may be materially damaged by material inaccuracies in the information provided by the Company.
  
 The Company will provide Westwood a copy of any draft closing documents. At the closing of the Transaction, the Company will provide Westwood with a copy of the closing binder (hard or soft copy) including: an index (or table of contents) and the transaction documents.
  
  
  
 
 
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	 April 17, 2020

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 Confidentiality: Except in connection with the services to be provided hereunder and as set forth in this paragraph, Westwood agrees to treat all such information as confidential until instructed in writing by the Company to do otherwise or as otherwise compelled by law or regulatory process. Westwood is under no obligation to keep information confidential that (i) is or becomes available to the public (other than as a result of a disclosure by Westwood in violation hereof); (ii) was available to Westwood on a non-confidential basis prior to its disclosure to Westwood by the Company; (iii) becomes available to Westwood on a nonconfidential basis from a person other than the Company who, to the knowledge of Westwood, is not bound by a confidentiality agreement with the Company or otherwise prohibited from transferring such information to Westwood; or (iv) the Company agrees may be disclosed. The Company acknowledges that certain aspects of the advice to be rendered by Westwood may utilize information from Westwood that is confidential and proprietary, including, but not limited to, certain financial technology, structural ideas, investor and other information. Accordingly, the Company shall maintain the confidentiality of such information in accordance with the same standards and conditions that Westwood has agreed above will apply to the Company information. The terms herein supersede any prior agreement between the parties concerning confidentiality between them. The obligations of the Company and Westwood to maintain confidentiality of the information required hereby shall terminate upon the first anniversary of the termination of this Agreement.
  
 The Company represents and warrants that it is a Corporation formed under the laws of Delaware and that the Company is capable of exercising its independent judgment in evaluating whether or not to enter into or close any Transaction.
  
 No Guarantee of Financing: The Company understands that this Agreement does not constitute a commitment or obligation by Westwood or any of its partners or affiliates to provide any Financing or any other specific performance which may be required or advisable in connection with the Company or any other transaction contemplated herein. As such, the Company expressly acknowledges that Westwood does not guarantee, warrant or otherwise provide assurance that the Company will be able to implement or consummate any Financing, or any other transaction contemplated herein, or achieve any other result.
  
 Indemnification: The parties hereto agree to the indemnification provisions as set forth in Appendix A, attached hereto, which is incorporated by reference as if fully set forth herein. This section shall survive the termination or expiration of this Agreement.
  
 Fees
  
 Transaction Fees: In connection with this Agreement, Westwood shall be paid the following fees by the Company subject to the terms further herein:
  
 1.Upon the closing of any transaction involving the placement of equity or equity-like securities, a Transaction Fee (the “Transaction Fee”) of five percent (5%) of the gross principal amount of such equity or equity-like securities (which shall include committed and un-drawn amounts); 
  
 2.Upon the closing of any transaction involving the placement of mezzanine or subordinated debt, a Transaction Fee of three and one half-percent (3.5%) of the gross principal amount of such subordinated debt (which shall include committed and undrawn amounts); 
  
 3.Upon the closing of any transaction involving the placement of senior secured or unsecured debt, a Transaction Fee one and one-half percent (1.5%) of the gross principal amount of such senior debt (which shall include committed and un-drawn amounts); 
  
 4.If Westwood assists the Company in completing a transaction of a type not otherwise contemplated herein, Westwood shall receive compensation in an amount equal to that which is usual and customary for major bracket investment bankers for transactions of that type and size as agreed to between Westwood and the Company. 
 
 
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	 April 17, 2020

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 The calculation of the above Transaction Fees shall be less the amount of Advisory Fees (defined below).
  
 Advisory Fees: In addition to the above fees upon the closing of a Financing, Westwood or its designated affiliate shall receive a non-refundable advisory fee (the “Advisory Fee”) of $50,000, payable $10,000 per month, with the first installment payable upon execution of this Agreement and each additional installment of $10,000 due and payable on the 15th day of the next month. If, within fifteen (15) days of Westwood’s receipt of USD $30,000 in Advisory Fees, the Company elects not to proceed with the Financing, then the Company’s obligation to pay additional Advisory Fees shall cease. Advisory Fees shall not, in any event, exceed USD $50,000 and all Advisory Fees shall be credited against Transaction Fees
  
 Total Consideration: In calculating the gross principal committed amount to determine the Transaction Fees payable to Westwood, such committed amount will be computed based upon the total consideration received by the Company, including but not limited to cash, securities, non-cash consideration (including, but not limited to, products and services, special or liquidating dividends, cash equivalents, common stock, preferred stock, notes and debt, consideration paid or payable under agreements or covenants), assumption or forgiveness of debt, whether or not such consideration is paid at closing, in installments or deferred.
  
 Payment Method. The Transaction Fees payable to Westwood hereunder shall be withheld from proceeds of the applicable Transaction or, at the discretion of Westwood, paid directly by the Company. The fees payable to Westwood hereunder shall not be credited by any expenses paid to Westwood, or fees or expenses paid by the Company to third parties directly or through Westwood (e.g. legal, tax, accounting advisors). Each of the amounts payable by the Company hereunder will (i) be paid in U.S. Dollars or, at Westwood’s discretion, in the currency and country in which such costs and expenses were incurred, (ii) be non-refundable when paid, (iii) not be subject to counterclaim or set-off for, or be otherwise affected by, any claim or dispute with respect to any matter not related to this document and (iv) be paid free and clear of and without deduction for any and all present or future applicable taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto (with appropriate gross-up for withholding taxes).
  
 Payments of the Transaction Fees are to be made by wire transfer of same day funds to Westwood’s account or as otherwise instructed by Westwood and confirmed in writing and orally by Westwood’s controller. Failure by Westwood (or any assigned affiliate) to provide an invoice shall not relieve the Company of its obligations hereunder.
  
 Expenses: The Company shall reimburse Westwood for all documented out-of-pocket expenses reasonably incurred in connection with this Agreement, subject to the prior approval of the Company before Westwood incurs any single expense in excess of $1,000. For all flights in duration of five hours or more (including transfers and layovers), the Company shall reimburse Westwood for business-class airfare (or for first-class airfare if business-class is not readily available) on all travel by senior professionals (Vice President and above) and for coach class airfare for all other professionals. Transaction expenses, including but not limited to, expenses of counsel and auditors etc. (if any) shall be paid directly by the Company.
  
 Deal expenses for third-party services (e.g., the Company counsel, accountants) shall be paid directly by the Company. No such third-party services shall be incurred by Westwood on behalf of the Company without the Company’s consent and express agreement to reimburse Westwood for same.
  
 Circled Transactions: If Westwood obtains commitments for a proposed Transaction, subject only to the completion of final closing documentation, that is satisfactory to the Company and the Potential Investor(s) who have agreed to enter a Transaction on terms and conditions to which the Company has agreed and has indicated its acceptance (a “Circle”), and the proposed Transaction (a “Circled Transaction”) is not consummated due to the Company’s decision not to close the Circled Transaction for any reason other than the unwillingness of the Potential Investor(s) to close the Circled Transaction on terms that are consistent with those agreed at the time of Circle (a “Company Refusal”), then Westwood shall be entitled to a Transaction Fee calculated on the notional principal amount as if the Circled Transaction had been completed, subject to a minimum fee of $100,000. Such fees shall be payable within 10 business days after a Company Refusal.
 
 
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	 April 17, 2020

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 Term: Notwithstanding the close of any particular Transaction, the initial term of this Agreement shall extend to April 17, 2021 (“Initial Term”) and the Initial Term shall automatically be extended for additional periods of six (6) months each unless terminated by written notice given by either party at least 30 days prior to the end of the Initial Term or any extension thereto. The foregoing notwithstanding, all agreed Fees and other monies due and payable to Westwood shall be paid as a prior condition to the effectiveness of any termination of this Agreement and exclusivity herein; except, however, with respect to any Continuing Fee Obligation (as that term is hereinafter defined), which shall be paid as and when due in accordance herewith. The forgoing notwithstanding, the Company shall have, for a period of 60 days, a one-time right to terminate this Agreement by written notice on the 90-day anniversary of this Agreement.
  
 Notwithstanding any of the foregoing, this Agreement shall automatically be extended (i) in case of force majeure or other events beyond Westwood’s control (including but not limited to acts or escalation of war and/or hostilities, major terrorism, major market disruptions that prevent normal business activity within the capital markets or material delays caused by the Company, including, but not limited to, delays caused by the passage of time in connection with the Company’s compliance with the representations herein), in which events the term of this Agreement shall be automatically extended for the duration of such events plus 90 days and (ii) if this Agreement would otherwise expire but the Company is in Active Discussions (as defined below) with a Westwood Account, lender or other strategic partner or other potential investor, at such time, in which event(s) this Agreement shall be automatically extended in its entirety for the duration necessary to complete such discussions and/or close any Transaction relating thereto. “Active Discussions” is defined as the Company having received a non-binding letter of intent, being in the process of active due diligence and/or drafting of final binding agreements with a Westwood Account.
  
 Upon termination of this Agreement for any reason, Westwood will provide the Company with a list (the “List”) of Potential Investors, third parties and other entities contacted in connection with any Financing. If the Company closes a transaction with any party (or affiliate thereof) from such List during the term of this agreement or within 12 months following the termination of this Agreement, and such party directly or indirectly funds a Financing either into an individual Project Finance or to UCC or any affiliate, then a Transaction Fee as calculated in the Fees section above shall become immediately due and payable to Westwood (the “Continuing Fee Obligation”). The Continuing Fee Obligation shall survive the termination of this Agreement.
  
 Legal Counsel: The Company agrees to retain legal counsel reasonably acceptable to Westwood that is experienced in corporate financings and transactions of the type contemplated hereby.
  
 Miscellaneous: This Agreement embodies the entire agreement and understanding of the parties hereto and supersedes all prior agreements and understandings, written or oral, relating to the subject matter hereof, and may not be modified or amended or any term or provision hereof waived or discharged, except in writing, signed by the party against whom such modification, waiver or discharge is sought to be enforced. All rights and obligations hereunder shall be binding upon and applicable to any successor to the assets and/or business of the Company, whether by merger, consolidation, transfer of all or substantially all of such assets, or otherwise.
  
 Neither the Company nor Westwood may assign its rights or delegate its obligations without the prior written approval of the other party; provided, however, that Westwood may assign this Agreement, in whole or part, to its corporate affiliates. The Company acknowledges that Westwood’s investment banking activities may lead to representation of clients and principal activities that may be competitive with the Company and the investors in the Company.
  
 This Agreement shall be governed by and construed in accordance with the laws of the State of New York (without regard to the conflicts of law provisions thereof) and the laws of the United States of America. The parties hereto further agree to submit all disputes that may arise hereunder to arbitration under the jurisdiction and rules of the Financial Industry Regulatory Agency (FINRA). In the event of any action hereunder, the prevailing party shall be entitled to seek the recovery of reasonable legal fees, and all or a portion of such legal fees may be awarded in the sole discretion of the adjudicator.
 
 
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 The Company acknowledges and agrees that the exclusivity and term provisions of this Agreement are material to Westwood and that the Company shall not enter into any transactions with affiliates or third parties that would in any manner circumvent the intention of these material provisions.
  
 Each of Westwood and the Company represents and warrants that this Agreement has in all respects been duly authorized, executed and delivered by and on behalf of itself and that such authorization and execution does not conflict with any other agreement or regulation to which the Company is subject.
  
 Westwood shall have the right at its own expense to reference any Transaction in its marketing materials, including, but not limited to, its website and to place tombstone advertisements in publications with prior written consent of the Company.
  
 If any provision of this Agreement shall be determined to be invalid or unenforceable in any respect, such determination shall not affect such provisions in any other respect or any other provision of this Agreement, which shall remain in full force and effect.
  
  
  
  
  
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	 April 17, 2020

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 Please acknowledge your agreement with the terms and provisions of this Agreement by signing and returning a copy to us.
  
 We look forward to working with you.
  
 	  
	 Very truly yours,

	  
	  

	  
	 WESTWOOD CAPITAL, LLC

	  
	  

	  
	  

	  
	 By: /s/ Mark W. Gross

	  
	 Mark W. Gross

	  
	 Managing Director

	  
	  

	  
	  

	 Agreed to and accepted
	  

	 as of the date hereof:
	  

	  
	  

	 United Capital Consultants Inc.
	  

	  
	  

	  
	  

	 /s/ Clayton Patterson
	  

	 By: Clayton Patterson
	  

	 Title: Chief Executive Officer
	  

  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
 
 Appendix A
  
 INDEMNIFICATION
  
 United Capital Consultants Inc., a corporation formed under the laws of Delaware (together with its affiliates and subsidiaries, the “Company”), agrees to indemnify Westwood Capital, LLC (“Westwood”) and its employees, directors, officers, agents, affiliates (including but not limited to Westwood Capital Advisors, LLC) and each person, if any, who controls it within the meaning of either Section 20 of the Securities Exchange Act of 1934 or Section 15 of the Securities Act of 1933 (each such person, including Westwood, is referred to as “Indemnified Party”) from and against any losses, claims, damages and liabilities, joint or several, to any Indemnified Party, third parties or the Company (including, but not limited to, all reasonable legal fees, reasonable attorney’s fees, and other expenses reasonably incurred by any Indemnified Party in connection with any threatened or pending claim, action or proceeding, whether or not resulting in any liability) (“Damages”), to which such Indemnified Party, in connection with its services or arising out of its engagement hereunder may become subject under any applicable Federal or state law or otherwise, including but not limited to liability (i) caused by or arising out of an untrue statement or an alleged untrue statement of a material fact or the omission or the alleged omission to state a material fact necessary in order to make a statement not misleading in light of the circumstances under which it was made except for any such statement or omission based upon written information or written advice furnished to the Company by Westwood, (ii) caused by or arising out of any act or failure to act by the Company, or (iii) arising out of the engagement of Westwood or the rendering by any Indemnified Party of its services under this Agreement provided, however, that the Company will not be liable to the Indemnified Party hereunder to the extent that any Damages are found in a non-appealable judgment by a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of the Indemnified Party seeking indemnification hereunder (a “Successful Judgment”). Indemnification of one party under this agreement shall not relieve or in any way diminish the Company’s indemnification responsibilities to another Indemnified Party.
  
 If for any reason, other than a non-appealable judgment finding an Indemnified Party liable for Damages for its gross negligence, bad faith or willful misconduct (or, in the event the case with respect to which the Damages relate is settled and the Company gains a Successful Judgment with respect to the Indemnified Party’s conduct in connection therewith), the foregoing indemnity is unavailable to an Indemnified party or insufficient to hold an Indemnified Party harmless, then the Company shall contribute to the amount paid or payable by an Indemnified Party as a result of such Damages in such proportion as is appropriate to reflect not only the relative benefits received by the Company and its shareholders on the one hand and Westwood on the other, but also the relative fault of the Company and the Indemnified Party as well as any relevant equitable considerations, subject to the limitation that in no event shall the total contribution of all Indemnified Parties to all such Damages exceed the total amount of accounts receivable fees and financial advisory fees actually received by Westwood hereunder.
  
 Promptly after receipt by the Indemnified Party of notice of any claim or of the commencement of any action in respect of which indemnity may be sought, the Indemnified Party will notify the Company in writing of the receipt or commencement thereof and the Company shall have the right to assume the defense of such claim or action (including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of fees and expenses of such counsel), provided that the Indemnified Party shall have the right at its own expense to control its defense if, in the opinion of its counsel, the Indemnified Party’s defense is unique or separate to it, as the case may be, as opposed to a defense pertaining to the Company. In such event, the Indemnified Party shall have the right to retain counsel reasonably satisfactory to the Company, at the Indemnified Party’s expense, to represent the Indemnified Party in any claim or action in respect of which indemnity may be sought and agrees to cooperate with the Company and the Company’s counsel in the defense of such claim or action. In the event that the Company does not promptly assume the defense of a claim or action, the Indemnified Party shall have the right to employ counsel reasonably satisfactory to the Company, at the Company’s expense, to defend such claim or action. The omission by an Indemnified Party to promptly notify the Company of the receipt or commencement of any claim or action in respect of which indemnity may be sought will relieve the Company from any liability the Company may have to such Indemnified Party only to the extent that such a delay in notification prejudices the Company’s defense of such claim or action in more than a de minimis manner. The Company shall not be liable for any settlement of any such claim or action effected without its written consent, which shall not be unreasonably withheld or delayed. Any obligation pursuant to this Appendix A shall survive the termination or expiration of the term of the engagement Agreement between the Company and any Indemnified Party.
 
 
 
 Damages incurred by an Indemnified Party shall be paid by the Company on an as-incurred, current basis, subject to reimbursement in the event that such Indemnified Party is determined not to be entitled to such indemnification pursuant to the terms hereof.
  
 Agreed to and Accepted as of the date hereof:
  
  
 United Capital Consultants Inc.
  
  
 /s/ Clayton Patterson
 By: Clayton Patterson
 Title: Chief Executive Officer

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