Document:

EX-10.1

 Exhibit 10.1 

[                    ]1 
  

			
	To:	  	 Cloudflare, Inc.
 101 Townsend Street

San Francisco, California 94107

		
	From:	  	[                    ]
		
	Re:	  	[Base]2[Additional]3 Capped Call Transaction
		
	Ref. No:	  	[                    ]4
		
	Date:	  	[            ], 2021

 Dear Ladies and Gentlemen: 

The purpose of this communication (this “Confirmation”) is to set forth the terms and conditions of the above-referenced
transaction entered into on the Trade Date specified below (the “Transaction”) between [                    ]
(“Dealer”) and Cloudflare, Inc. (“Counterparty”). This communication constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. 

1. This Confirmation is subject to, and incorporates, the definitions and provisions of the 2006 ISDA Definitions (the “2006
Definitions”) and the definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”, and together with the 2006 Definitions, the “Definitions”), in each case, as
published by the International Swaps and Derivatives Association, Inc. (“ISDA”). In the event of any inconsistency between the 2006 Definitions and the Equity Definitions, the Equity Definitions will govern and in the event of any
inconsistency between terms defined in the Equity Definitions and this Confirmation, this Confirmation shall govern. 
 This Confirmation
evidences a complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall be subject to an agreement (the “Agreement”) in the form of
the 2002 ISDA Master Agreement as if Dealer and Counterparty had executed an agreement in such form on the Trade Date (but without any Schedule except for (i) the election of the laws of the State of New York as the governing law (without
reference to choice of law doctrine, [(ii) the election of an executed guarantee of [                    ] (“Guarantor”) dated as of
the Trade Date in substantially the form attached hereto as Schedule 1 as a Credit Support Document, (iii) the election of Guarantor as Credit Support Provider in relation to Dealer and
(iv)]5 [and (ii)] the election that the “Cross Default” provisions of Section 5(a)(vi) of the Agreement shall apply to Dealer, (a) with a Threshold Amount” of 3% of the
shareholders’ equity of Dealer on the Trade Date, (b) “Specified Indebtedness” having the meaning set forth in Section 14 of the Agreement, except that it shall not include any obligation in respect of deposits received in
the ordinary course of Dealer’s banking business, (c) the phrase “, or becoming capable at such time of being declared,” shall be deleted from clause (1) of such Section 5(a)(vi) of the Agreement, and (d) the
following sentence shall be added to the end of Section 5(a)(vi) of the Agreement: “Notwithstanding the foregoing, a default under subsection (2) hereof shall not constitute an Event of Default if (i) the default was caused
solely by error or omission of an administrative or operational nature; (ii) funds were available to enable the relevant party to make payment when due; and (iii) the payment is made within two Local Business Days of such party’s
receipt of written notice of its failure to pay.”). 
  
  

	1 	 Include Dealer name, address and logo 

	2 	 Include for base call option. 

	3 	 Include for additional call option. 

	4 	 If applicable 

	5 	 Requested if Dealer is not the highest rated entity in group, typically from Parent. 

  
 1 

 All provisions contained in, or incorporated by reference to, the Agreement will govern this
Confirmation except as expressly modified herein. In the event of any inconsistency between this Confirmation and either the Definitions or the Agreement, this Confirmation shall govern. 

The Transaction hereunder shall be the sole Transaction under the Agreement. If there exists any ISDA Master Agreement between Dealer and
Counterparty or any confirmation or other agreement between Dealer and Counterparty pursuant to which an ISDA Master Agreement is deemed to exist between Dealer and Counterparty, then notwithstanding anything to the contrary in such ISDA Master
Agreement, such confirmation or agreement or any other agreement to which Dealer and Counterparty are parties, the Transaction shall not be considered a Transaction under, or otherwise governed by, such existing or deemed ISDA Master Agreement. 

2. The Transaction constitutes a Share Option Transaction for purposes of the Equity Definitions. The terms of the particular Transaction to
which this Confirmation relates are as follows: 
 General Terms: 
  

			
	 Trade Date:
	  	August [●], 2021
		
	 Effective Date:
	  	August [●], 2021, or such other date as agreed by the parties in writing.
		
	 Components:
	  	The Transaction will be divided into individual Components, each with the terms set forth in this Confirmation, and, in particular, with the Number of Options and Expiration Date set forth in Annex A to this Confirmation. The
exercise, valuation and settlement of the Transaction will be effected separately for each Component as if each Component were a separate Transaction under the Agreement.
		
	 Option Style:
	  	“European”, as described under “Procedures for Exercise” below.
		
	 Option Type:
	  	Call
		
	 Seller:
	  	Dealer
		
	 Buyer:
	  	Counterparty
		
	 Shares:
	  	The Class A common stock of Counterparty, par value USD 0.001 (Ticker Symbol: “NET”).
		
	 Number of Options:
	  	For each Component, as provided in Annex A to this Confirmation.6
		
	 Option Entitlement:
	  	One Share Per Option
		
	 Strike Price:
	  	USD [            ]
		
	 Cap Price:
	  	USD [            ]; provided that in no event shall the Cap Price be reduced to an amount less than the Strike Price in connection with any adjustment by the
Calculation Agent under this Confirmation.
		
	 Number of Shares:
	  	As of any date, a number of Shares equal to the product of (i) the Number of Options and (ii) the Option Entitlement.
		
	 Premium:
	  	USD [            ] (Premium per Option approximately USD [            ]); Dealer and Counterparty hereby agree
that notwithstanding anything to

  

	6 	 For the base capped call, the total should be equal to (i) the number of Convertible Notes in principal
amount of $1,000 initially issued on the closing date for the Convertible Notes (excluding any Convertible Notes sold pursuant to the over-allotment option) multiplied by (ii) the initial conversion rate. For the additional
capped call, the total should be equal to (i) the number of additional Convertible Notes in principal amount of $1,000 multiplied by (ii) the initial conversion rate. 

  
 2 

			
		  	the contrary herein or in the Agreement, following the payment of the Premium, in the event that (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) (other than an Event of Default
arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement that is within the Counterparty’s control) occurs or is designated with respect to any Transaction and, as a result, Counterparty owes to Dealer the amount calculated under
Section 6(d) and Section 6(e) or otherwise under the Agreement (calculated as if the Transactions terminated on such Early Termination Date were the sole Transactions under the Agreement) or (b) Counterparty owes to Dealer, pursuant
to Sections 12.2, 12.3, 12.6, 12.7, 12.8 or 12.9 of the Equity Definitions or otherwise under the Equity Definitions, an amount calculated under Section 12.8 of the Equity Definitions, such amount shall be deemed to be zero.
		
	 Premium Payment Date:
	  	The Effective Date
		
	 Exchange:
	  	The New York Stock Exchange
		
	 Related Exchange:
	  	All Exchanges; provided that Section 1.26 of the Equity Definitions shall be amended to add the words “United States” before the word “exchange” in the tenth line of such
Section.

 Procedures for Exercise: 

 

			
	 Expiration Time:
	  	The Valuation Time
		
	 Expiration Date:
	  	For any Component, as provided in Annex A to this Confirmation (or, if such date is not a Scheduled Valid Day, the next following Scheduled Valid Day that is not already an Expiration Date for another Component);
provided that if that date is a Disrupted Day, the Expiration Date for such Component shall be the first succeeding Scheduled Valid Day that is not a Disrupted Day and is not or is not deemed to be an Expiration Date in respect of any other
Component of the Transaction hereunder; and provided further that in no event shall the Expiration Date be postponed to a date later than the Final Termination Date and, notwithstanding anything to the contrary in this Confirmation or the
Equity Definitions, the Relevant Price for such Expiration Date that occurs on the Final Termination Date and is a Disrupted Day shall be the prevailing market value per Share determined by the Calculation Agent in a good faith and commercially
reasonable manner. Notwithstanding the foregoing and anything to the contrary in the Equity Definitions, if a Market Disruption Event occurs on any Expiration Date, the Calculation Agent may determine in a good faith and commercially reasonable
manner that such Expiration Date is a Disrupted Day only in part, in which case the Calculation Agent shall make commercially reasonable adjustments to the Number of Options for the relevant Component for which such day shall be the Expiration Date,
shall designate the Scheduled Valid Day determined in the manner described in the immediately preceding sentence as the Expiration Date for the remaining Options for such Component and may determine the Relevant Price in a commercially reasonable
manner based on transactions in the Shares on such Disrupted Day taking into account the nature and duration of such Market Disruption Event on such day. Any Scheduled Valid Day on which, as of the date hereof, the Exchange is scheduled to close
prior to its normal close of trading shall be deemed not to be a Scheduled Valid Day; if a closure of the Exchange prior to its normal close of trading on any Scheduled Valid Day is scheduled following the date hereof, then such Scheduled Valid Day
shall be deemed to be a Disrupted Day in full. Section 6.6 of the Equity Definitions shall not apply to any Valuation Date occurring on an Expiration Date.

  
 3 

			
	 Final Termination Date: 

	  	[            , 2026]7
		
	 Automatic Exercise:
	  	Applicable, which means that the Number of Options for the relevant Component will be deemed to be automatically exercised at the Expiration Time on the Expiration Date for such Component if at such time such Component is In-the-Money, unless Buyer notifies Seller (in writing) prior to the Expiration Time on such Expiration Date that it does not wish Automatic Exercise to occur with respect to
such Component, in which case Automatic Exercise will not apply with respect to such Component. “In-the-Money” means, in respect of any Component, that
the Relevant Price on the Expiration Date for such Component is greater than the Strike Price for such Component.
		
	 Valuation Time:
	  	At the close of trading of the regular trading session on the Exchange; provided that if the principal trading session is extended, the Calculation Agent shall determine the Valuation Time in a good faith and commercially
reasonable manner.
		
	 Valuation Date:
	  	For any Component, the Expiration Date therefor.
		
	 Market Disruption Event:
	  	 Section 6.3(a) of the Equity Definitions is hereby amended by deleting the words “during the one hour period that ends at the
relevant Valuation Time, Latest Exercise Time, Knock-in Valuation Time or Knock-out Valuation Time, as the case may be,” in clause (ii) thereof.

 
 Section 6.3(d) of the Equity Definitions is hereby amended by deleting the
remainder of the provision following the term “Scheduled Closing Time” in the fourth line thereof.

Settlement Terms: 
  

			
	 Settlement Method Election:
	  	 Applicable; provided that (a) Section 7.1 of the Equity Definitions is hereby amended by replacing the term “Physical
Settlement” with the term “Net Share Settlement”, (b) Counterparty must make a single irrevocable election for all Components and (c) if Counterparty is electing Cash Settlement, such Settlement Method Election would be effective only
if Counterparty represents and warrants to Dealer in writing on the date of such Settlement Method Election that (i) Counterparty is not in possession of any material non-public information regarding Counterparty or the Shares, and (ii) such
election is being made in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws.
  

Without limiting the generality of the foregoing, Counterparty acknowledges its responsibilities under applicable securities laws, and in particular Sections 9
and 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder in respect of such election.

		
	 Electing Party:
	  	Counterparty
		
	 Settlement Method Election Date:
	  	The second Scheduled Valid Day prior to the scheduled Expiration Date for the Component with the earliest scheduled Expiration Date.

  
  

	7 	 To be 40 Scheduled Trading Days following the last scheduled Expiration Date. 

  
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	 Default Settlement Method:
	  	Net Share Settlement
		
	 Net Share Settlement:
	  	 With respect to any Component, if Net Share Settlement is applicable to the Options exercised or deemed exercised hereunder, Dealer will
deliver to Counterparty, on the relevant Settlement Date for each such Component, a number of Shares (the “Net Share Settlement Amount”) equal to (i) the Daily Option Value on the Expiration Date of such Component divided
by (ii) the Relevant Price on such Expiration Date.
  
 Dealer will deliver
cash in lieu of any fractional Shares to be delivered with respect to any Net Share Settlement Share Amount valued at the Relevant Price for the Expiration Date of such Component.

		
	 Cash Settlement:
	  	With respect to any Component, if Cash Settlement is applicable to the Options exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the Settlement Date,
an amount of cash (the “Cash Settlement Amount”) equal to the Daily Option Value on the Expiration Date of such Component.
		
	 Daily Option Value:
	  	For any Component, an amount equal to (i) the Number of Options in such Component, multiplied by (ii) the Option Entitlement, multiplied by (iii) (A) the lesser of the Relevant Price on the Expiration
Date of such Component and the Cap Price, minus (B) the Strike Price on such Expiration Day; provided that if the calculation contained in clause (iii) above results in a negative number, the Daily Option Value for such Component
shall be deemed to be zero. In no event will the Daily Option Value be less than zero.
		
	 Valid Day:
	  	A day on which (i) there is no Market Disruption Event and (ii) trading in the Shares generally occurs on the Exchange. If the Shares are not listed, quoted or traded on any U.S. securities exchange or any other market,
“Valid Day” means a Business Day.
		
	 Scheduled Valid Day:
	  	A day that is scheduled to be a Valid Day on the Exchange. If the Shares are not listed, quoted or traded on any U.S. securities exchange or any other market, “Scheduled Valid Day” means a Business Day.
		
	 Business Day:
	  	Any day other than a Saturday, a Sunday or other day on which banking institutions are authorized or required by law, regulation or executive order to close or be closed in the State of New York.
		
	 Relevant Price:
	  	On any Valid Day, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “NET <equity> AQR” (or its equivalent successor if such page is not available)
(the “VWAP”) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Valid Day (or if such volume-weighted average price is unavailable at such time,
the market value of one Share on such Valid Day, as determined by the Calculation Agent in a good faith and commercially reasonable manner using, if practicable, a volume-weighted average method substantially similar to the method for determining
the VWAP). The Relevant Price will be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.
		
	 Settlement Date:
	  	For all Components of the Transaction, the date one Settlement Cycle immediately following the Expiration Date for the Component with the latest scheduled Expiration Date.

  
 5 

			
	 Settlement Currency:
	  	USD
		
	 Other Applicable Provisions:
	  	The provisions of Sections 9.1(c), 9.8, 9.9, 9.11 and 9.12 of the Equity Definitions will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Net Share
Settlement.”
		
	 Representation and Agreement:
	  	Notwithstanding anything to the contrary in the Equity Definitions (including, but not limited to, Section 9.11 thereof), the parties acknowledge that (i) any Shares delivered to Counterparty shall be, upon delivery,
subject to restrictions, obligations and limitations arising from Counterparty’s status as issuer of the Shares under applicable securities laws, (ii) Dealer may deliver any Shares required to be delivered hereunder in certificated form in
lieu of delivery through the Clearance System and (iii) any Shares delivered to Counterparty may be “restricted securities” (as defined in Rule 144 under the Securities Act of 1933, as amended (the “Securities
Act”)).

 Adjustments: 

 

			
	 Method of Adjustment:
	  	Calculation Agent Adjustment; provided that the parties agree that (x) open market Share repurchases at prevailing market price and (y) Share repurchases through a dealer pursuant to accelerated share
repurchases, forward contracts or similar transactions (including, without limitation, any discount to average VWAP prices) that are entered into at prevailing market prices and in accordance with customary market terms for transactions of such type
to repurchase the Shares shall not be considered Potential Adjustment Events.

 Extraordinary
Events: 
  

			
	 New Shares:
	  	In the definition of New Shares in Section 12.1(i) of the Equity Definitions, (a) the text in clause (i) thereof shall be deleted in its entirety and replaced with “publicly quoted, traded or listed on any of The New York Stock
Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market (or their respective successors),” and (b) the following phrase shall be inserted immediately prior to the period: “and (iii) of a corporation organized under the laws
of the United States, any State thereof or the District of Columbia that (x) also becomes the Counterparty under the Transaction or (y) agrees to be subject to Sections 8(d) and 8(e) of the Confirmation governing the Transaction, in either case,
following such Merger Event or Tender Offer”.
		
	 Merger Events:
	  	Applicable
		
	 Consequences of Merger Events:
	  	
		
	
(a)    Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	
(b)    Share-for-Other:
	  	Cancellation and Payment (Calculation Agent Determination)
		
	
(c)    Share-for-Combined:
	  	Cancellation and Payment (Calculation Agent Determination); provided that the Calculation Agent may elect Component Adjustment for all or part of the Transaction
		
	 Tender Offer:
	  	Applicable; provided that the definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions will be amended by replacing the phrase “greater than 10% and less than 100% of the outstanding
voting

  
 6 

			
		  	shares of the Counterparty” in the third and fourth line thereof with “greater than 20% and less than 100% of the outstanding Shares of the Counterparty”. In addition, Section 12.1(e) of the Equity Definitions
shall be amended by replacing “voting shares” in the first line thereof with “Shares”, and Section 12.1(l) of the Equity Definitions shall be amended by replacing “voting shares” in the fifth line thereof with
“Shares”.
	 Consequences of Tender Offers:
	  	
		
	
(a)    Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	
(b)    Share-for-Other:
	  	Modified Calculation Agent Adjustment
		
	
(c)    Share-for-Combined:
	  	Modified Calculation Agent Adjustment
		
	 Consequences of Announcement Events:
	  	Modified Calculation Agent Adjustment as set forth in Section 12.3(d) of the Equity Definitions; provided that, in respect of an Announcement Event, (x) references to “Tender Offer” shall be replaced by
references to “Announcement Event” and references to “Tender Offer Date” shall be replaced by references to “date of such Announcement Event” in the definition of Modified Calculation Agent Adjustment set forth in
Section 12.3(d), (y) the phrase “exercise, settlement, payment or any other terms of the Transaction (including, without limitation, the spread)” in the third and fourth lines of the definition of Modified Calculation Agent Adjustment
set forth in Section 12.3(d) shall be replaced with the phrase “Cap Price (provided that in no event shall the Cap Price be less than the Strike Price)” and the words “whether within a commercially reasonable (as
determined in good faith by the Calculation Agent) period of time prior to or after the Announcement Event” shall be inserted prior to the word “which” in the seventh line, and (z) for the avoidance of doubt, the Calculation
Agent shall, in good faith and a commercially reasonable manner, determine whether the relevant Announcement Event has had a material economic effect on the Transaction and, if so, shall adjust the Cap Price accordingly to take into account such
economic effect on one or more occasions on or after the date of the Announcement Event up to, and including, the Expiration Date, any Early Termination Date and/or any other date of cancellation, it being understood that (i) any adjustment in
respect of an Announcement Event shall take into account any earlier adjustment relating to the same Announcement Event and shall not be duplicative with any other adjustment or cancellation valuation made pursuant to this Confirmation, the Equity
Definitions or the Agreement and (ii) in making any adjustment the Calculation Agent shall solely take into account changes in stock price, volatility, expected dividends, stock loan rate, and liquidity relevant to the Shares or to such
Transaction). An Announcement Event shall be an “Extraordinary Event” for purposes of the Equity Definitions, to which Article 12 of the Equity Definitions is applicable; provided further that upon the Calculation Agent making an
adjustment, determined in a commercially reasonable manner, to the Cap Price upon any Announcement Event, then the Calculation Agent shall make an adjustment to the Cap Price upon any announcement regarding the same event that gave rise to the
original Announcement Event regarding the abandonment of any such event to the extent necessary to reflect the economic effect of such subsequent announcement on the Transaction (provided that in no event shall the Cap Price be less than the
Strike Price).

  
 7 

			
	 Announcement Event:
	  	(i) The public announcement (whether by Counterparty or a Valid Third Party Entity) of any Merger Event or Tender Offer, or the announcement by Counterparty of any intention to enter into a Merger Event or Tender Offer,
(ii) the public announcement (whether by Counterparty or a Valid Third Party Entity) of any potential acquisition or disposition by Counterparty and/or its subsidiaries where the consideration exceeds 35% of the market capitalization of the
Counterparty as of the date of such announcement (an “Acquisition Transaction”), (iii) the public announcement (whether by Counterparty or a Valid Third Party Entity) of an intention by Counterparty or such Valid Third Party Entity
to solicit or enter into, or to explore strategic alternatives or other similar undertaking that may include, a Merger Event, Tender Offer or Acquisition Transaction, or (iv) any subsequent public announcement (whether by Counterparty or a
Valid Third Party Entity) of a change to a transaction or intention that is the subject of an announcement of the type described in clause (i), (ii) or (iii) of this sentence (including, without limitation, a new announcement relating to such a
transaction or intention or the announcement of a withdrawal from, or the abandonment or discontinuation of, such a transaction or intention); provided that, for the avoidance of doubt, the occurrence of an Announcement Event with respect to
any transaction or intention shall not preclude the occurrence of a later Announcement Event with respect to such transaction or intention.
		
	 Valid Third Party Entity:
	  	In respect of any transaction any third party that has a bona fide intent to enter into or consummate such transaction whose announcement is reasonably determined by the Calculation Agent to have had a material economic effect (as
reasonably determined by the Calculation Agent) on the Shares and/or options on the Shares.
		
	 Notice of Merger Consideration and Consequences:
	  	Upon the occurrence of a Merger Event that causes the Shares to be converted into the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election), Counterparty shall
reasonably promptly (but in any event prior to the relevant Merger Date) notify the Calculation Agent of (i) the type and amount of consideration that a holder of Shares would have been entitled to in the case of reclassifications,
consolidations, mergers, sales or transfers of assets or other transactions that cause Shares to be converted into the right to receive more than a single type of consideration and (ii) the weighted average of the types and amounts of
consideration to be received by the holders of Shares that affirmatively make such an election.
		
	 Nationalization, Insolvency or Delisting:
	  	Cancellation and Payment (Calculation Agent Determination); provided that in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Shares are not
immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The
NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any
such exchange or quotation system, such exchange or quotation system shall thereafter be deemed to be the Exchange.

Additional Disruption Events: 
  

			
		
	 (a) Change in Law:
	  	 Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by
(i) replacing the phrase “the interpretation” in the third line thereof with the phrase “, or public announcement of, the

  
 8 

			
		  	formal interpretation”, (ii) by adding the phrase “and/or type of Hedge Position that would be entered into by a commercially reasonable dealer” after the word “Shares” in clause (X) thereof and
(iii) by immediately following the word “Transaction” in clause (X) thereof, adding the phrase “in the manner contemplated by the Hedging Party on the Trade Date assuming the dealer maintains a commercially reasonable hedge
position.”
		
	 (b) Failure to Deliver:
	  	Applicable
		
	 (c) Insolvency Filing:
	  	Applicable
		
	 (d) Hedging Disruption:
	  	Applicable; provided that Section 12.9(b)(iii) of the Equity Definitions is hereby amended by inserting in the third line thereof, after the words “to terminate the Transaction”, the words “or a portion of
the Transaction affected by such Hedging Disruption”.
		
	 (e) Increased Cost of Hedging:
	  	Not Applicable
		
	 Hedging Party:
	  	Dealer
		
	 Determining Party:
	  	 For all applicable Extraordinary Events, Dealer; provided that, when making any determination or calculation as “Determining
Party,” Dealer shall be bound by the same obligations relating to required acts of the Calculation Agent as set forth in Section 1.40 of the Equity Definitions and this Confirmation as if Determining Party were the Calculation Agent.

 
 Following any determination or calculation by Determining Party hereunder, upon a
written request by Counterparty, Determining Party will promptly (but in any event within five Scheduled Trading Days) provide to Counterparty in writing a report (in a commonly used file format for the storage and manipulation of financial data)
displaying in reasonable detail the basis for such determination or calculation (including any assumptions used in making such determination or calculation), it being understood that in no event will Determining Party be obligated to share with
Counterparty any proprietary or confidential data or information or any proprietary or confidential models used by it in making such determination or calculation or any information that is subject to an obligation not to disclose such
information.

		
	 Non-Reliance:
	  	Applicable
		
	 Agreements and Acknowledgments Regarding Hedging Activities:
	  	Applicable
		
	 Additional Acknowledgments:
	  	Applicable
		
	3. Calculation Agent:	  	Dealer; provided that, following the occurrence and during the continuance of an Event of Default pursuant to Section 5(a)(vii) of the Agreement with respect to which Dealer is the sole Defaulting Party, Counterparty
shall have the right to designate a nationally recognized third party dealer in over-the-counter corporate equity derivatives to replace Dealer as the Calculation Agent,
and the parties shall work in good faith to execute any appropriate documentation required by such replacement Calculation Agent.

  
 9 

 
			
		 	Following any adjustment, determination or calculation by the Calculation Agent hereunder, upon a written request by Counterparty, the Calculation Agent will promptly (but in any event within five Scheduled Trading Days) provide to
Counterparty in writing a report (in a commonly used file format for the storage and manipulation of financial data) displaying in reasonable detail the basis for such adjustment, determination or calculation (including any assumptions used in
making such adjustment, determination or calculation), it being understood that in no event will the Calculation Agent be obligated to share with Counterparty any proprietary or confidential data or information or any proprietary or confidential
models used by it in making such adjustment, determination or calculation or any information that is subject to an obligation not to disclose such information.

 4. Account Details: 

Dealer Payment Instructions: 
  

			
	[Bank:]	  	[                    ]
	[SWIFT:]	  	[                    ]
	[Bank Routing:]	  	[                    ]
	[Acct Name:]	  	[                    ]
	[Acct No.:]	  	[                    ]

 Counterparty Payment Instructions: To be advised. 

5. Offices: 
 The
Office of Dealer for the Transaction is: [New York, New York] 
 The Office of Counterparty for the Transaction is: Inapplicable,
Counterparty is not a Multibranch Party. 
 6. Notices: For purposes of this Confirmation: 

(a) Address for notices or communications to Counterparty: 

 

			
	To:	  	[                    ]
		
	Attention:	  	[                    ]
	Telephone:	  	[                    ]
	Email:	  	[                    ]

 (b) Address for notices or communications to Dealer: 

 

			
	To:	  	[                    ]
		
	Attention:	  	[                    ]
	Telephone:	  	[                    ]
	Email:	  	[                    ]

  
 10 

			
	With a copy to:
		
	To:	  	[                    ]
		
	Attention:	  	[                    ]
	Telephone:	  	[                    ]
	Email:	  	[                    ]

 For the avoidance of doubt, any notice or other communication delivered by electronic messaging system, e-mail or facsimile transmission shall be deemed to be “in writing.” 
 7.
Representations, Warranties and Agreements:  
 (a) In addition to the representations and warranties in the Agreement
and those contained elsewhere herein, Counterparty represents and warrants to and for the benefit of, and agrees with, Dealer as follows: 

(i) On the Trade Date (A) none of Counterparty and its officers and directors is aware of any material non-public information regarding Counterparty or the Shares, and (B) all reports and other documents filed by Counterparty with the Securities and Exchange Commission pursuant to the Exchange Act when
considered as a whole (with the more recent such reports and documents deemed to amend inconsistent statements contained in any earlier such reports and documents), do not contain any untrue statement of a material fact or any omission of a material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading. 

(ii) On the Trade Date, (A) the Shares or securities that are convertible into, or exchangeable or exercisable for Shares,
are not, and shall not be, subject to a “restricted period,” as such term is defined in Regulation M under the Exchange Act (“Regulation M”), and (B) Counterparty is not engaged in any “distribution,” as
such term is defined in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in Rules 101(b)(10) and 102(b)(7) or Rule 102(c)(1)(i) of Regulation M. 

(iii) On the Trade Date, neither Counterparty nor any “affiliate” or “affiliated purchaser” (each as
defined in Rule 10b-18 of the Exchange Act (“Rule 10b-18”)) shall directly or indirectly (including, without limitation, by means of any cash-settled or
other derivative instrument) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or commence any tender offer relating to, any Shares (or an equivalent interest, including a unit of beneficial interest in a
trust or limited partnership or a depository share) or any security convertible into or exchangeable or exercisable for Shares, except through Dealer. 

(iv) Without limiting the generality of Section 13.1 of the Equity Definitions, Counterparty acknowledges that neither
Dealer nor any of its affiliates is making any representations or warranties or taking any position or expressing any view with respect to the treatment of the Transaction under any accounting standards including ASC Topic 260, Earnings Per
Share, ASC Topic 815, Derivatives and Hedging, or ASC Topic 480, Distinguishing Liabilities from Equity and ASC 815-40, Derivatives and Hedging – Contracts in
Entity’s Own Equity (or any successor issue statements). 
 (v) Without limiting the generality of
Section 3(a)(iii) of the Agreement, the Transaction will not violate Rule 13e-1 or Rule 13e-4 under the Exchange Act. 

(vi) Prior to the Trade Date, Counterparty shall deliver to Dealer a resolution of Counterparty’s board of directors
authorizing the Transaction. 
 (vii) Counterparty is not entering into this Confirmation to create actual or apparent
trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) or otherwise in violation of the Exchange Act. 

  
 11 

 (viii) Counterparty is not, and after giving effect to the transactions
contemplated hereby will not be, required to register as, an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 

(ix) On each of the Trade Date, the Premium Payment Date and immediately after giving effect to the Transaction on the Premium
Payment Date, (A) the present fair market value (or present fair saleable value) of the total assets of Counterparty is not less than the total amount required to pay the probable total liabilities (including contingent liabilities) of
Counterparty as they mature and become absolute, (B) the capital of Counterparty is adequate to conduct its business in the manner described in the offering memorandum relating to the sale of the Convertible Notes and to enter into the
transaction, (C) Counterparty has the ability to pay its debts and obligations as such debts mature, (D) Counterparty is not “insolvent” (as such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title 11 of
the United States Code) (the “Bankruptcy Code”)) and (E) Counterparty would be able to purchase the aggregate Number of Shares for the Transaction in compliance with the laws of the jurisdiction of Counterparty’s
incorporation. 
 (x) To Counterparty’s knowledge, no U.S. state or local law, rule, regulation or regulatory order
applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any person or entity) as a result of Dealer or its affiliates owning or
holding (however defined) Shares; provided that no such representation shall be made by Counterparty with respect to any rules and regulations applicable to Dealer (including FINRA) arising from Dealer’s status as a regulated entity
under applicable law. 
 (xi) Counterparty (A) is capable of evaluating investment risks independently, both in general
and with regard to all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise
notified the broker-dealer in writing, (C) has total assets of at least USD 50 million as of the date hereof. 
 (b) Each of
Dealer and Counterparty agrees and represents that it is an “eligible contract participant” as defined in Section 1a(18) of the U.S. Commodity Exchange Act, as amended. 

(c) Each of Dealer and Counterparty acknowledges that the offer and sale of the Transaction to it is intended to be exempt from registration
under the Securities Act, by virtue of Section 4(a)(2) thereof. Accordingly, Counterparty represents and warrants to Dealer that (i) it has the financial ability to bear the economic risk of its investment in the Transaction and is able to
bear a total loss of its investment and its investments in and liabilities in respect of the Transaction, which it understands are not readily marketable, are not disproportionate to its net worth, and it is able to bear any loss in connection with
the Transaction, including the loss of its entire investment in the Transaction, (ii) it is an “accredited investor” as that term is defined in Regulation D as promulgated under the Securities Act, (iii) it is entering into the
Transaction for its own account and without a view to the distribution or resale thereof, (iv) the assignment, transfer or other disposition of the Transaction has not been and will not be registered under the Securities Act and is restricted
under this Confirmation, the Securities Act and state securities laws, and (v) its financial condition is such that it has no need for liquidity with respect to its investment in the Transaction and no need to dispose of any portion thereof to
satisfy any existing or contemplated undertaking or indebtedness and is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks
of the Transaction.  
 (d) Each of Dealer and Counterparty agrees and acknowledges that Dealer is a “financial
institution,” “swap participant” and “financial participant” within the meaning of Sections 101(22), 101(53C) and 101(22A) of the Bankruptcy Code. The parties hereto further agree and acknowledge (A) that this
Confirmation is (i) a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each 

  
 12 

 
payment and delivery hereunder or in connection herewith is a “termination value,” “payment amount” or “other transfer obligation” within the meaning of
Section 362 of the Bankruptcy Code and a “settlement payment” within the meaning of Section 546 of the Bankruptcy Code, and (ii) a “swap agreement,” as such term is defined in Section 101(53B) of the
Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection herewith is a “termination value,” “payment amount” or “other transfer obligation” within the meaning of Section 362 of
the Bankruptcy Code and a “transfer” within the meaning of Section 546 of the Bankruptcy Code, and (B) that Dealer is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(b)(17), 362(b)(27),
362(o), 546(e), 546(g), 546(j), 548(d)(2), 555, 560 and 561 of the Bankruptcy Code. 
 (e) As a condition to the effectiveness of the
Transaction, Counterparty shall deliver to Dealer an opinion of counsel, dated as of the Effective Date and reasonably acceptable to Dealer in form and substance, with respect to the matters set forth in Section 3(a)(i), (ii) and (iii) of
the Agreement. 
 (f) Counterparty understands that notwithstanding any other relationship between Counterparty and Dealer and its
affiliates, in connection with the Transaction and any other over-the-counter derivative transactions between Counterparty and Dealer or its affiliates, Dealer or its
affiliates is acting as principal and is not a fiduciary or advisor in respect of any such transaction, including any entry, exercise, amendment, unwind or termination thereof. 

(g) Each party acknowledges and agrees to be bound by the Conduct Rules of the Financial Industry Regulatory Authority, Inc. applicable to
transactions in options, and further agrees not to violate the position and exercise limits set forth therein. 
 (h) Counterparty
represents and warrants that it has received, read and understands the OTC Options Risk Disclosure Statement and a copy of the most recent disclosure pamphlet prepared by The Options Clearing Corporation entitled “Characteristics and Risks of
Standardized Options”. 
 8. Other Provisions: 

(a) Right to Extend. Dealer may divide any Component into additional Components and designate the Expiration Date and the Number
of Options for each such Component if Dealer determines, in good faith and a commercially reasonable manner, that such further division would be necessary or advisable to preserve a commercially reasonable dealer’s hedging or hedge unwind
activity with respect to the Transaction in light of existing liquidity conditions or to enable such a dealer to purchase or sell Shares or enter into swap or other derivatives transactions with respect to Shares in connection with its hedging,
hedge unwind or settlement activity with respect to the Transaction in a manner that would, if such dealer were Counterparty or an affiliated purchaser of Counterparty, be compliant and consistent with applicable legal, regulatory or self-regulatory
requirements generally applicable to transactions of the type of the Transaction; provided that in no event shall any Expiration Date for any Component be postponed to a date later than the Final Termination Date.  

(b) Additional Termination Events. Promptly (but in any event within ten Scheduled Trading Days) following any repurchase,
redemption, exchange or conversion of any of the Counterparty’s [    ]% Convertible Senior Notes due 2026 (the “Convertible Notes”) issued pursuant to the Counterparty’s indenture (the
“Indenture”) [to be]8 dated August [●], 2021 between the Counterparty and U.S. Bank National Association, as trustee, Counterparty may notify Dealer in writing of
(i) such repurchase, redemption, exchange or conversion, (ii) the number of Convertible Notes so repurchased, redeemed, exchange or converted and (iii) the number of Shares underlying each USD 1,000 principal amount of Convertible
Notes (any such notice, a “Repurchase Notification” and any such event, a “Repurchase Event”)[; provided that any “Repurchase Notification” delivered to Dealer pursuant to the Base Capped Call
Transaction Confirmation letter agreement dated August [●], 2021 between Dealer and Counterparty (the “Base Call Option Confirmation”) shall be deemed to be a Repurchase Notification pursuant to this Confirmation and the terms
of such Repurchase Notification shall apply, mutatis mutandis, to this 
  

	8 	 Include if the Indenture is not completed at the time of the Confirmation. 

  
 13 

 
Confirmation]9. Notwithstanding anything to the contrary in this Confirmation, the receipt by Dealer from Counterparty of (x) any
Repurchase Notification, within the applicable time period set forth in the preceding sentence, and (y) a written representation and warranty by Counterparty that, as of the date of such Repurchase Notification, Counterparty is not in
possession of any material non-public information regarding Counterparty or the Shares, shall constitute an Additional Termination Event as provided in this paragraph. Upon receipt of any such Repurchase
Notification and the related written representation and warranty, Dealer shall promptly designate an Exchange Business Day following receipt of such Repurchase Notification as an Early Termination Date with respect to the portion of this Transaction
corresponding to a number of Options (the “Repurchase Options”) equal to the lesser of (A) [(x)] [    ]10% of the aggregate number of Shares underlying the
number of Convertible Notes specified in such Repurchase Notification, divided by the Option Entitlement[, minus (y) the number of “Repurchase Options” (as defined in the Base Call Option Confirmation), if any, that
relate to such Convertible Notes (and for the purposes of determining whether any Options under this Confirmation or under, and as defined in, the Base Call Option Confirmation will be among the Repurchase Options hereunder or under, and as defined
in, the Base Call Option Confirmation, the number of Convertible Notes specified in such Repurchase Notification shall be allocated first to the Base Call Option Confirmation until all Options thereunder are exercised or terminated)]11 and (B) the aggregate Number of Options as of the date Dealer designates such Early Termination Date and, as of such date, the aggregate Number of Options shall be reduced by the number of
Repurchase Options on a pro rata basis across all Components, as determined by the Calculation Agent. Any payment hereunder with respect to such termination shall be calculated pursuant to Section 6 of the Agreement as if (1) an Early
Termination Date had been designated in respect of a Transaction having terms identical to this Transaction and an aggregate Number of Options equal to the number of Repurchase Options, (2) Counterparty were the sole Affected Party with respect
to such Additional Termination Event and (3) the terminated portion of the Transaction were the sole Affected Transaction. 
 (c)
Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events. If (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with
respect to the Transaction or (b) the Transaction is cancelled or terminated upon the occurrence of an Extraordinary Event (except as a result of (i) a Nationalization, Insolvency or Merger Event in which the consideration to be paid to
all holders of Shares consists solely of cash, (ii) a Merger Event or Tender Offer that is within Counterparty’s control, or (iii) an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which
Counterparty is the Affected Party, which Event of Default or Termination Event resulted from an event or events within the Counterparty’s control), and if Dealer would owe any amount to Counterparty pursuant to Section 6(d)(ii) and 6(e)
of the Agreement or any Cancellation Amount pursuant to Article 12 of the Equity Definitions (any such amount, a “Payment Obligation”), then Dealer shall satisfy the Payment Obligation by the Share Termination Alternative (as
defined below) unless (a) Counterparty gives irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, no later than 12:00 p.m. (New York City time) on the Merger Date, Tender Offer Date, Announcement Date
(in the case of a Nationalization, Insolvency or Delisting), Early Termination Date or date of cancellation, as applicable, of its election that the Share Termination Alternative shall not apply, (b) as of the date of such election,
Counterparty represents that is not in possession of any material non-public information regarding Counterparty or the Shares, and that such election is being made in good faith and not as part of a plan or
scheme to evade compliance with the federal securities laws, and (c) Dealer agrees, in its commercially reasonable discretion, to such election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions,
or the provisions of Section 6(d)(ii) and 6(e) of the Agreement, as the case may be, shall apply. 
  

			
	Share Termination Alternative:	  	If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant
to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Agreement, as applicable, in satisfaction of such Payment Obligation in the manner reasonably requested by Counterparty free of payment.

  

	9 	 Include in Additional Call Option Confirmation only. 

	10 	 Include Dealer’s percentage allocation of the overall capped call transaction. 

	11 	 Include in Additional Call Option Confirmation only. 

  
 14 

			
	Share Termination Delivery Property:	  	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the Share Termination Delivery
Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.
		
	Share Termination Unit Price:	  	The value of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the Calculation Agent to Dealer at the time of
notification of the Payment Obligation. For the avoidance of doubt, the parties agree that in determining the Share Termination Delivery Unit Price the Calculation Agent may consider a variety of factors, including the market price of the Share
Termination Delivery Units and/or the purchase price paid in connection with the commercially reasonable purchase of Share Termination Delivery Property.
		
	Share Termination Delivery Unit:	  	One Share or, if the Shares have changed into cash or any other property or the right to receive cash or any other property as the result of a Nationalization, Insolvency or Merger Event (any such cash or other property, the
“Exchange Property”), a unit consisting of the type and amount of such Exchange Property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any
securities) in such Nationalization, Insolvency or Merger Event, as determined by the Calculation Agent.
		
	Failure to Deliver:	  	Applicable
		
	Other Applicable Provisions:	  	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9 and 9.11 (as modified above) of the Equity Definitions and the provisions set forth opposite the caption “Representation and Agreement” in
Section 2 will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Share Termination Settled” and all references to “Shares” shall be read as
references to “Share Termination Delivery Units”. “Share Termination Settled” in relation to the Transaction means that the Share Termination Alternative is applicable to the Transaction.

 (d) Disposition of Hedge Shares. Counterparty hereby agrees that if, in the good faith
reasonable judgment of Dealer, based on the advice of legal counsel, the Shares acquired by Dealer for the purpose of hedging its obligations pursuant to the Transaction (the “Hedge Shares”) cannot be sold in the U.S. public
market by Dealer without registration under the Securities Act, Counterparty shall, at its election: (i) in order to allow Dealer to sell the Hedge Shares in a registered offering, use its commercially reasonable efforts to make available to
Dealer an effective registration statement under the Securities Act to cover the resale of such Hedge Shares and (A) enter into an agreement, in form and substance reasonably satisfactory to Dealer, substantially in the form of an underwriting
agreement for a registered offering for companies of a similar size in a similar industry, (B) provide accountant’s “comfort” letters in customary form for registered offerings of equity securities for companies of a similar size
in a similar industry, (C) provide disclosure opinions of nationally recognized outside counsel to Counterparty in customary form for registered offerings of equity securities for companies of a similar size in a similar industry,
(D) provide other customary opinions, certificates and closing documents customary in form for registered offerings of equity securities for companies of a similar size in a similar industry and (E) afford Dealer a reasonable opportunity
to conduct a “due diligence” investigation with respect to Counterparty customary in scope for underwritten offerings of equity securities for companies of a similar size in a similar industry; provided, however, that, if
Counterparty elects clause (i) above but Dealer, in its commercially reasonable discretion, is not satisfied with access to due diligence materials, the results of its due diligence investigation, or the procedures and documentation

  
 15 

 
for the registered offering referred to above, then clause (ii) or clause (iii) of this Section 8(d) shall apply at the election of Counterparty; (ii) in order to allow Dealer
to sell the Hedge Shares in a private placement, enter into a private placement agreement substantially similar to private placement purchase agreements customary for private placements of equity securities of companies of a similar size in a
similar industry, in form and substance commercially reasonably satisfactory to Dealer using reasonable best efforts to include customary representations, covenants, blue sky and other governmental filings and/or registrations, indemnities to
Dealer, due diligence rights (for Dealer or any designated buyer of the Hedge Shares from Dealer), opinions and certificates and such other documentation as is customary for private placements agreements of equity securities of companies of a
similar size in a similar industry, as is reasonably acceptable to Dealer (in which case, the Calculation Agent shall make any adjustments to the terms of the Transaction that are necessary, in its good faith and commercially reasonable judgment, to
compensate Dealer for any customary liquidity discount from the public market price of the Shares incurred on the sale of Hedge Shares in a private placement); provided that no “comfort letter” or accountants’ consent shall be
required to be delivered in connection with any private placements; or (iii) purchase the Hedge Shares from Dealer at the then-prevailing market price at one or more times on such Exchange Business Days, and in the amounts, requested by Dealer.

 (e) Repurchase Notices. Counterparty shall, at least one Scheduled Valid Day prior to any day on which Counterparty intends
to effect any repurchase of Shares, give Dealer written notice of such repurchase (a “Repurchase Notice”) on such day if, following such repurchase, the Notice Percentage would reasonably be expected to be (i) greater than
[    ]12% and (ii) greater by 0.5% than the Notice Percentage included in the immediately preceding Repurchase Notice (or, in the case of the first such Repurchase Notice,
greater than the Notice Percentage as of the date hereof). The “Notice Percentage” as of any day is the fraction, expressed as a percentage, the numerator of which is the aggregate Number of Shares, plus the aggregate number
of Shares underlying any other call options sold by Dealer to Counterparty and the denominator of which is the number of Shares outstanding on such day. In the event that Counterparty fails to provide Dealer with a Repurchase Notice on the day and
in the manner specified in this Section 8(e) then Counterparty agrees to indemnify and hold harmless Dealer, its affiliates and their respective directors, officers, employees, agents and controlling persons (Dealer and each such person being
an “Indemnified Party”) from and against any and all commercially reasonable losses (including losses relating to the Dealer’s hedging activities as a consequence of becoming, or of the risk of becoming, a Section 16
“insider”, including without limitation, any forbearance from hedging activities or cessation of hedging activities and any losses in connection therewith with respect to the Transaction), claims, damages and liabilities (or actions in
respect thereof), joint or several, to which such Indemnified Party may become subject under applicable securities laws, including without limitation, Section 16 of the Exchange Act or under any U.S. state or federal law, regulation or
regulatory order, in each case relating to or arising out of such failure. If for any reason the foregoing indemnification is unavailable to any Indemnified Party or insufficient to hold harmless any Indemnified Party, then Counterparty shall
contribute, to the maximum extent permitted by law, to the amount paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability. In addition, Counterparty will reimburse any Indemnified Party for all commercially
reasonable expenses (including commercially reasonable counsel fees and expenses) as they are incurred (after notice to Counterparty) in connection with the investigation of, preparation for or defense or settlement of any pending or threatened
claim or any action, suit or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto and whether or not such claim, action, suit or proceeding is initiated or brought by or on behalf of Counterparty, in each case
relating to or arising out of such failure. This indemnity shall survive the completion of the Transaction contemplated by this Confirmation and any assignment and delegation of the Transaction made pursuant to this Confirmation or the Agreement
shall inure to the benefit of any permitted assignee of Dealer. Counterparty will not be liable under this indemnity provision to the extent any loss, claim, damage, liability or expense is found in a final judgment by a court to have resulted from
Dealer’s gross negligence or willful misconduct. 
 (f) Transfer and Assignment. Either party may transfer or assign any
of its rights or obligations under the Transaction with the prior written consent of the non-transferring party, such consent not to be unreasonably withheld or delayed; provided that Dealer may
transfer or assign its rights and obligations hereunder, in whole or in part, to (A) without Counterparty’s consent, to any affiliate of Dealer whose obligations would be guaranteed by Dealer or Dealer’s ultimate parent or
(B) with Counterparty’s consent (such consent not to be unreasonably withheld or delayed) any person (including any affiliate of Dealer whose obligations are not guaranteed in the manner 

	 	 

 

	12 	 To be 0.5% higher than the number of Shares underlying the call option transactions with the Issuer of the
Dealer with the highest percentage allocation of the capped call (including capped calls entered into with Counterparty in connection with the 2025 notes). 

  
 16 

 
described in clause (A)) or any person whose obligations would be guaranteed by a person (a “Designated Transferee”), in either case under this clause (B), with a rating for its
long-term, unsecured and unsubordinated indebtedness at least equivalent to Dealer’s (or its guarantor’s), provided, however, that, in the case of this clause (B), in no event shall the credit rating of the Designated
Transferee or of its guarantor (whichever is higher) be lower than A3 from Moody’s Investor Service, Inc. or its successor or A- from Standard and Poor’s Rating Group, Inc. or its successor;
provided further that (i) Dealer will notify Counterparty in writing prior to any proposed transfer or assignment to a Designated Transferee, (ii) after any such transfer, Counterparty will not, as a result of any withholding or
deduction made by the transferee or assignee as a result of any tax, receive from the such transferee or assignee on any payment date or delivery date (after accounting for amounts paid under Section 2(d)(i)(4) of the Agreement as well as such
withholding or deduction) an amount or a number of Shares, as applicable, lower than the amount or the number of Shares, as applicable, that Dealer would have been required to pay or deliver to Counterparty in the absence of such transfer (except to
the extent such lower amount or number results from a change in law after the date of such transfer), and (iii) Dealer shall cause the transferee or assignee to make the Payee Tax Representations and provide Counterparty with a complete and
accurate U.S. Internal Revenue Service Form W-9 or W-8 (as applicable) prior to becoming a party to the Transaction. At any time at which (1) the Equity Percentage
exceeds 9.0% or (2) Dealer, Dealer Group (as defined below) or any person whose ownership position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”) under any
applicable “business combinations statute” or other federal, state or local law, rule, regulation or regulatory order or organizational documents or contracts of Counterparty applicable to ownership of Shares (“Applicable
Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership in excess of a number of Shares equal to (x) the number of Shares that would give
rise to reporting, registration, filing or notification obligations or other requirements (including obtaining prior approval by a state or federal regulator) of a Dealer Person under Applicable Restrictions and with respect to which such
requirements have not been met or the relevant approval has not been received minus (y) 1% of the number of Shares outstanding on the date of determination (either such condition described in clause (1) or (2), an “Excess
Ownership Position”), if Dealer, in its reasonable discretion, is unable to effect a transfer or assignment to a third party in accordance with the requirements set forth above after its commercially reasonable efforts on pricing and terms
and within a time period reasonably acceptable to Dealer such that an Excess Ownership Position no longer exists, Dealer may designate any Scheduled Valid Day as an Early Termination Date with respect to a portion (the “Terminated
Portion”) of the Transaction, such that an Excess Ownership Position no longer exists following such partial termination. In the event that Dealer so designates an Early Termination Date with respect to a portion of the Transaction, a
payment or delivery shall be made pursuant to Section 6 of the Agreement and Section 8(c) of this Confirmation as if (i) an Early Termination Date had been designated in respect of a Transaction having terms identical to the
Terminated Portion of the Transaction, (ii) Counterparty were the sole Affected Party with respect to such partial termination, (iii) such portion of the Transaction were the only Terminated Transaction and (iv) Dealer were the party
entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement and to determine the amount payable pursuant to Section 6(e) of the Agreement. The “Equity Percentage” as of any day is the
fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and any of its affiliates subject to aggregation with Dealer for purposes of the “beneficial ownership” test under Section 13 of
the Exchange Act and all persons who may form a “group” (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) with Dealer (collectively, “Dealer Group”) “beneficially
own” (within the meaning of Section 13 of the Exchange Act) without duplication on such day and (B) the denominator of which is the number of Shares outstanding on such day. 

In the case of a transfer or assignment by Counterparty of its rights and obligations hereunder and under the Agreement, in whole or in part
(any such Options so transferred or assigned, the “Transfer Options”), to any party, withholding of such consent by Dealer shall not be considered unreasonable if such transfer or assignment does not meet the reasonable conditions
that Dealer may impose including, but not limited, to the following conditions: 
 (A) with respect to any Transfer Options,
Counterparty shall not be released from its notice and indemnification obligations pursuant to Section 8(e) or any obligations under Section 2 (regarding Extraordinary Events) or 8(d) of this Confirmation; 

(B) any Transfer Options shall only be transferred or assigned to a third party that is a U.S. person (as defined in the Code);

  
 17 

 (C) such transfer or assignment shall be effected on terms, including any
reasonable undertakings by such third party (including, but not limited to, undertakings with respect to compliance with applicable securities laws in a manner that, in the reasonable judgment of Dealer, will not expose Dealer to material risks
under applicable securities laws) and execution of any documentation and delivery of customary legal opinions with respect to securities laws and other matters by such third party and Counterparty as are reasonably requested and reasonably
satisfactory to Dealer; 
 (D) Dealer will not, as a result of such transfer and assignment, be required to pay the
transferee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than an amount that Dealer would have been required to pay to Counterparty in the absence of such transfer and assignment; 

(E) an Event of Default, Potential Event of Default or Termination Event will not occur as a result of such transfer and
assignment; 
 (F) without limiting the generality of clause (B), Counterparty shall have caused the transferee to make such
Payee Tax Representations and to provide such tax documentation as may be reasonably requested by Dealer to permit Dealer to determine that results described in clauses (D) and (E) will not occur upon or after such transfer and assignment; and

 (G) Counterparty shall be responsible for all reasonable costs and expenses, including reasonable counsel fees, incurred
by Dealer in connection with such transfer or assignment. 
 (g) Staggered Settlement. If Dealer determines reasonably and in
good faith that the number of Shares required to be delivered to Counterparty hereunder on any Settlement Date would result in an Excess Ownership Position, then Dealer may, by notice to Counterparty prior to such Settlement Date (a “Nominal
Settlement Date”), elect to deliver any Shares due to be delivered on two or more dates (each, a “Staggered Settlement Date”) or at two or more times on the Nominal Settlement Date as follows: 

(i) in such notice, Dealer will specify to Counterparty the related Staggered Settlement Dates (each of which will be on or
prior to the 20th Exchange Business Day after such Nominal Settlement Date) or delivery times and how it will allocate the Shares it is required to deliver hereunder on the Settlement Date among
the Staggered Settlement Dates or delivery times; and 
 (ii) the aggregate number of Shares that Dealer will deliver to
Counterparty hereunder on all such Staggered Settlement Dates and delivery times will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date; provided that in no event shall any Staggered
Settlement Date be a date later than the Final Termination Date. 
 (h) Disclosure. Effective from the date of commencement of
discussions concerning the Transaction, Counterparty and each of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all
materials of any kind (including opinions or other tax analyses) that are provided to Counterparty relating to such tax treatment and tax structure.  

(i) No Netting and Set-off. The provisions of Section 2(c) of the Agreement
shall not apply to the Transaction. Each party waives any and all rights it may have to set-off delivery or payment obligations it owes to the other party under the Transaction against any delivery or payment
obligations owed to it by the other party, whether arising under the Agreement, under any other agreement between parties hereto, by operation of law or otherwise. 

(j) Equity Rights. Dealer acknowledges and agrees that this Confirmation is not intended to convey to it rights with respect to
the Transaction that are senior to the claims of common stockholders in the event of Counterparty’s bankruptcy. For the avoidance of doubt, the parties agree that the preceding sentence shall not apply

  
 18 

 
at any time other than during Counterparty’s bankruptcy to any claim arising as a result of a breach by Counterparty of any of its obligations under this Confirmation or the Agreement. For
the avoidance of doubt, the parties acknowledge that the obligations of Counterparty under this Confirmation are not secured by any collateral that would otherwise secure the obligations of Counterparty herein under or pursuant to any other
agreement. 
 (k) Early Unwind. In the event the sale of the [“Firm Securities”]13 [“Optional Securities”]14 (as defined in the Purchase Agreement dated as of August [●], 2021, between Counterparty and
[                    ], [                    ]
and [                    ], as representative of the Initial Purchasers party thereto (the “Initial Purchasers”)) is not consummated
with the Initial Purchasers for any reason by 5:00 p.m. (New York City time) on the Premium Payment Date, or such later date as agreed upon by the parties (the Premium Payment Date or such later date, the “Early Unwind Date”), the
Transaction shall automatically terminate (the “Early Unwind”) on the Early Unwind Date and (i) the Transaction and all of the respective rights and obligations of Dealer and Counterparty under the Transaction shall be
cancelled and terminated and (ii) each party shall be released and discharged by the other party from and agrees not to make any claim against the other party with respect to any obligations or liabilities of the other party arising out of and
to be performed in connection with the Transaction either prior to or after the Early Unwind Date. Each of Dealer and Counterparty represents and acknowledges to the other that, upon an Early Unwind, all obligations with respect to the Transaction
shall be deemed fully and finally discharged. 
 (l) Wall Street Transparency and Accountability Act. In connection
with Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any regulation under the WSTAA, nor any requirement under WSTAA or an
amendment made by WSTAA, shall limit or otherwise impair either party’s otherwise applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising from a termination event,
force majeure, illegality, increased costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change in Law, Hedging
Disruption, an Excess Ownership Position, or Illegality (as defined in the Agreement)). 
 (m) Amendments to Equity Definitions and
the Agreement. The following amendments shall be made to the Equity Definitions: 
 (i) solely for purposes of
applying the Equity Definitions and for purposes of this Confirmation, any reference in the Equity Definitions to a Strike Price shall be deemed to be a reference to either of the Strike Price or the Cap Price, or both, as appropriate; 

(ii) for the purpose of any adjustment under Section 11.2(c) of the Equity Definitions, the first sentence of
Section 11.2(c) of the Equity Definitions, prior to clause (A) thereof, is hereby amended to read as follows: “If “Calculation Agent Adjustment” is specified as the Method of Adjustment in the related Confirmation of a Share
Option Transaction, then following the announcement or occurrence of any Potential Adjustment Event, the Calculation Agent will determine whether such Potential Adjustment Event has, in the commercially reasonable judgment of the Calculation Agent,
a material economic effect on the theoretical value of the relevant Shares or options on the Shares (provided that such event is not based on (x) an observable market, other than the market for Counterparty’s own stock or
(y) an observable index, other than an index calculated and measured solely by reference to Counterparty’s own operations) and, if so, will (i) make appropriate adjustment(s), if any, determined in a commercially reasonable manner, to
any one or more of:”, and the portion of such sentence immediately preceding clause (ii) thereof is hereby amended by deleting the words “diluting or concentrative” and the words “(provided that no adjustments will be
made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)” and replacing such latter phrase with the words “(provided that solely in the case of
Section 11.2(e)(i), (ii)(A), (iv) and (v), such adjustments will be made solely to account for the dilutive or concentrative effect of such event on the relevant Shares as determined by the Calculation Agent in a commercially reasonable manner,
but. for the avoidance of doubt, solely in the case of Sections 11.2(e)(ii)(B) through (D), (iii), (vi) and (vii), adjustments may be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the
relevant Shares)”; 
  
  

	13 	 Insert for Base Call Option Confirmation. 

	14 	 Insert for Additional Call Option Confirmation. 

  
 19 

 (iii) Section 11.2(a) of the Equity Definitions is hereby amended by
(1) deleting the words “in the determination of the Calculation Agent, a diluting or concentrative effect on the theoretical value of the relevant Shares” and replacing these words with “in the commercially reasonable judgment of
the Calculation Agent, a material economic effect on the theoretical value of the Shares or options on such Shares”; and (2) adding at the end thereof “; provided that such event is not based on (i) an observable market,
other than the market for Counterparty’s own stock or (ii) an observable index, other than an index calculated and measured solely by reference to Counterparty’s own operations”; 

(iv) Section 11.2(e)(vii) of the Equity Definitions is hereby amended and restated as follows: “any other corporate
event involving the Issuer that in the commercially reasonable judgment of the Calculation Agent has a material economic effect on the theoretical value of the Shares or options on the Shares; provided that such corporate event involving the
Issuer is not based on (a) an observable market, other than the market for Counterparty’s own stock or (b) an observable index, other than an index calculated and measured solely by reference to Counterparty’s own
operations.”; and 
 (v) Section 12.7(b) of the Equity Definitions is hereby amended by deleting the words
“(and in any event within five Exchange Business Days) by the parties after” appearing after the words “agreed promptly” and replacing with the words “by the parties on or prior to”. 

(n) Governing Law. THE AGREEMENT, THIS CONFIRMATION AND ALL MATTERS ARISING IN CONNECTION WITH THE AGREEMENT AND THIS
CONFIRMATION SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CHOICE OF LAW DOCTRINE, OTHER THAN TITLE 14 OF THE NEW YORK GENERAL OBLIGATIONS LAW). THE PARTIES HERETO
IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE FEDERAL AND STATE COURTS LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THE AGREEMENT, THIS CONFIRMATION OR ANY
TRANSACTIONS CONTEMPLATED HEREBY. 
 (o) Adjustments. For the avoidance of doubt, whenever the Calculation Agent or
Determining Party is called upon to make an adjustment or determination of any amount pursuant to the terms of this Confirmation or the Equity Definitions to take into account the effect of an event, the Calculation Agent or Determining Party shall
make such adjustment by reference to the effect of such event on the Hedging Party, assuming that the Hedging Party maintains a commercially reasonable hedge position. 

(p) Delivery or Receipt of Cash. For the avoidance of doubt, other than payment of the Premium by Counterparty, nothing in this
Confirmation shall be interpreted as requiring Counterparty to cash settle the Transaction, except in circumstances where cash settlement is within Counterparty’s control (including, without limitation, where Counterparty elects to deliver or
receive cash) or in those circumstances in which holders of Shares would also receive cash. 
 (q) Waiver of Jury Trial.
EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THE AGREEMENT, THIS CONFIRMATION OR ANY TRANSACTIONS CONTEMPLATED HEREBY.  

(r) Amendment. This Confirmation and the Agreement may not be modified, amended or supplemented, except in a written
instrument signed by Counterparty and Dealer.  

  
 20 

 (s) Counterparts. This Confirmation may be executed in several counterparts,
each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
 (t) Tax Matters.
For the purpose of Sections 4(a)(i) and (ii) of the Agreement, Counterparty agrees to deliver to Dealer one duly executed and completed United States Internal Revenue Service Form W-9 (or successor
thereto) and Dealer agrees to deliver to Counterparty, as applicable, a U.S. Internal Revenue Service Form W-8 or Form W-9 (or successor thereto). Such forms or
documents shall be delivered upon (i) execution of this Confirmation, (ii) Counterparty or Dealer, as applicable, learning that any such tax form previously provided by it has become obsolete or incorrect, and (iii) reasonable request
of the other party. 
 (u) Payee Tax Representation.  

(i) For the purpose of Section 3(f) of the Agreement, Counterparty makes the representations below: 

Counterparty is a corporation created or organized in the United States or under the laws of the United States and its U.S. taxpayer
identification number is [                    ]15. It is “exempt” within the meaning
of Treasury Regulation sections 1.6041-3(p) and 1.6049-4(c) from information reporting on IRS Form 1099 and backup withholding. 

(ii) For the purpose of Section 3(f) of the Agreement, Dealer makes the representations below: 

[Dealer is a U.S. person (as that term is defined in Section 7701(a)(30) and used in
Section 1.1441-4(a)(3)(ii) of the Treasury Regulations) for U.S. federal income tax purposes. 

(v) Withholding Tax imposed on payments to non-US counterparties under the United States Foreign
Account Tax Compliance Act. “Indemnifiable Tax”, as defined in Section 14 of the Agreement, shall not include any U.S. federal withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the Code, any
current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental
agreement entered into in connection with the implementation of such Sections of the Code (a “FATCA Withholding Tax”). For the avoidance of doubt, a FATCA Withholding Tax is a Tax the deduction or withholding of which is required by
applicable law for the purposes of Section 2(d) of the Agreement. 
 (w) HIRE Act. “Indemnifiable Tax”,
as defined in Section 14 of the Agreement, shall not include any tax imposed on payments treated as dividends from sources within the United States under Section 871(m) of the Code or any regulations issued thereunder. For the avoidance of
doubt, any such tax imposed under Section 871(m) of the Code is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Agreement. 

(x) Agreements and Acknowledgements Regarding Hedging. Counterparty understands, acknowledges and agrees that:
(A) at any time on or prior to the final Expiration Date, Dealer and its affiliates may buy or sell Shares or other securities or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to adjust its
hedge position with respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging activities in relation to the Transaction; (C) Dealer shall make its own
determination as to whether, when or in what manner any hedging or market activities in securities of the Issuer shall be conducted and shall do so in a manner that it deems appropriate to hedge its price and market risk with respect to the Relevant
Prices; and (D) any market activities of Dealer and its affiliates with respect to Shares may affect the market price and volatility of Shares, as well as the Relevant Prices, each in a manner that may be adverse to Counterparty. 

 

	15 	 Counterparty to provide taxpayer ID. 

  
 21 

 (y) [QFC Stay Rules. The parties agree that (i) to the
extent that prior to the date hereof both parties have adhered to the 2018 ISDA U.S. Resolution Stay Protocol (the “Protocol”), the terms of the Protocol are incorporated into and form a part of this Confirmation, and for such
purposes this Confirmation shall be deemed a Protocol Covered Agreement and each party shall be deemed to have the same status as Regulated Entity and/or Adhering Party as applicable to it under the Protocol; (ii) to the extent that prior to
the date hereof the parties have executed a separate agreement the effect of which is to amend the qualified financial contracts between them to conform with the requirements of the QFC Stay Rules (the “Bilateral Agreement”), the
terms of the Bilateral Agreement are incorporated into and form a part of this Confirmation and each party shall be deemed to have the status of “Covered Entity” or “Counterparty Entity” (or other similar term) as applicable to
it under the Bilateral Agreement; or (iii) if clause (i) and clause (ii) do not apply, the terms of Section 1 and Section 2 and the related defined terms (together, the “Bilateral Terms”) of the form of
bilateral template entitled “Full-Length Omnibus (for use between U.S. G-SIBs and Corporate Groups)” published by ISDA on November 2, 2018 (currently available on the 2018 ISDA U.S. Resolution
Stay Protocol page at www.isda.org and a copy of which is available upon request), the effect of which is to amend the qualified financial contracts between the parties thereto to conform with the requirements of the QFC Stay Rules, are hereby
incorporated into and form a part of this Confirmation, and for such purposes this Confirmation shall be deemed a “Covered Agreement,” Dealer shall be deemed a “Covered Entity” and Counterparty shall be deemed a
“Counterparty Entity.” In the event that, after the date of this Confirmation, both parties hereto become adhering parties to the Protocol, the terms of the Protocol will replace the terms of this paragraph. In the event of any
inconsistencies between this Confirmation and the terms of the Protocol, the Bilateral Agreement or the Bilateral Terms (each, the “QFC Stay Terms”), as applicable, the QFC Stay Terms will govern. Terms used in this paragraph
without definition shall have the meanings assigned to them under the QFC Stay Rules. For purposes of this paragraph, references to “this Confirmation” include any related credit enhancements entered into between the parties or provided by
one to the other. “QFC Stay Rules” means the regulations codified at 12 C.F.R. 252.2, 252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R. 47.1-8, which,
subject to limited exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal Deposit Insurance Act and the Orderly
Liquidation Authority under Title II of the Dodd Frank Wall Street Reform and Consumer Protection Act and the override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings and any
restrictions on the transfer of any covered affiliate credit enhancements.]16 
 (z)
CARES Act. Counterparty acknowledges that the Transaction may constitute a purchase of its equity securities or a capital distribution. Counterparty further acknowledges that, pursuant to the provisions of the Coronavirus Aid, Relief
and Economic Security Act (the “Cares Act”), the Counterparty will be required to agree to certain time-bound restrictions on its ability to purchase its equity securities or make capital distributions if it receives loans, loan
guarantees or direct loans (as that term is defined in the Cares Act) under section 4003(b) of the Cares Act. Counterparty further acknowledges that it may be required to agree to certain time-bound restrictions on its ability to purchase its equity
securities or make capital distributions if it receives loans, loan guarantees or direct loans (as that term is defined in the Cares Act) under programs or facilities established by the Board of Governors of the Federal Reserve System, the U.S.
Department of Treasury or similar governmental entity for the purpose of providing liquidity to the financial system. Accordingly, Counterparty represents and warrants that neither it, nor any of its subsidiaries have applied, and throughout the
Term of this Transaction shall not apply, for a loan, loan guarantee, direct loan (as that term is defined in the Cares Act) or other investment, or to receive any financial assistance or relief (howsoever defined) under any program or facility that
(a) is established under applicable law (whether in existence as of the Trade Date or subsequently enacted, adopted or amended), including without limitation the Cares Act and the Federal Reserve Act, as amended, and (b) requires under
applicable law (or any regulation, guidance, interpretation or other pronouncement thereunder), as a condition of such loan, loan guarantee, direct loan (as that term is defined in the Cares Act), investment, financial assistance or relief, that the
Counterparty comply with any requirement to, or otherwise agree, attest, certify or warrant that it has not, as of the date specified in such condition, repurchased, or will not repurchase, any equity security of Counterparty, and that it has not,
as of the date specified in such condition, made a capital distribution or will not make a capital distribution; provided that Counterparty may apply for any such governmental assistance if Counterparty determines based on the advice of outside
counsel reasonably satisfactory to Dealer that the terms of the Transaction would not cause Counterparty to fail to satisfy any condition for application for or receipt or retention of such governmental assistance based on the 

 

	16 	 Insert preferred form of US QFC Stay Rule language for each Dealer. 

  
 22 

 
terms of the relevant program or facility as of the date of such advice. Counterparty further represents and warrants that the Premium is not being paid, in whole or in part, directly or
indirectly, with funds received under or pursuant to any program or facility, including the U.S. Small Business Administration’s “Paycheck Protection Program”, that (a) is established under applicable law, including without
limitation the Cares Act and the Federal Reserve Act, as amended, and (b) requires under such applicable law (or any regulation, guidance, interpretation or other pronouncement of a governmental authority with jurisdiction for such program or
facility) that such funds be used for specified or enumerated purposes that do not include the purchase of this Transaction (either by specific reference to this Transaction or by general reference to transactions with the attributes of this
Transaction in all relevant respects). 
 [(aa)] Dealer Boilerplate. Insert additional Dealer boilerplate, if applicable] 

  
 23 

 Please confirm that the foregoing correctly sets forth the terms of our agreement by sending
to us a letter or telex substantially similar to this facsimile, which letter or telex sets forth the material terms of the Transaction to which this Confirmation relates and indicates your agreement to those terms. 

 

			
	Yours faithfully,
	
	[                    ]
		
	By:	 	
                     
                                         
                   

		 	Name:
		 	 Title:

  

			
	 Agreed and Accepted By:

	
	 CLOUDFLARE, INC.

		
	By	 	
                     
                                         
                   

		 	Name:
		 	Title:

  
 24 

 Schedule 1 

[Form of Guarantee] 

  
 25 

 Annex A 

For each Component of the Transaction, the Number of Options and Expiration Date is set forth below. 

 

							
	 Component Number
	  	 Number of Options
	 	Expiration Date	 
	 1
	  		 			
	 2
	  		 			
	 3
	  		 			
	 4
	  		 			
	 5
	  		 			
	 6
	  		 			
	 7
	  		 			
	 8
	  		 			
	 9
	  		 			
	 10
	  		 			
	 11
	  		 			
	 12
	  		 			
	 13
	  		 			
	 14
	  		 			
	 15
	  		 			
	 16
	  		 			
	 17
	  		 			
	 18
	  		 			
	 19
	  		 			
	 20
	  		 			
	 21
	  		 			
	 22
	  		 			
	 23
	  		 			
	 24
	  		 			
	 25
	  		 			
	 26
	  		 			
	 27
	  		 			
	 28
	  		 			
	 29
	  		 			
	 30
	  		 			
	 31
	  		 			
	 32
	  		 			
	 33
	  		 			
	 34
	  		 			
	 35
	  		 			
	 36
	  		 			
	 37
	  		 			
	 38
	  		 			
	 39
	  		 			
	 40
	  		 			

	

  
 26Exhibit 10.1

 

INDEPENDENT CONTRACTOR CONSULTING AGREEMENT

 

This
Agreement (“the Agreement”) is made as of the 15th day of April, 2021 by and between VerifyMe, Inc. a
Nevada Corporation with its principal office located at 75 S. Clinton Ave., Suite 510, Rochester, New York 14604, (the “Company”),
and Norman Gardner, an individual having an address of __________ (“Consultant”).

 

Whereas,
Consultant and the Company were parties to a prior Consulting Agreement, dated June 30, 2017, including all subsequent amendments (“2017
Agreement”), which Consultant and the Company agree is hereby superseded in its entirety by the terms of this Agreement;

 

Whereas,
Consultant agrees to resign, effective immediately, from the Board of Directors of the Company, but shall be paid out his fees under the
2017 Agreement through June 30, 2021;

 

Now Therefore,
for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the
Company and Consultant agree as follows:

 

1.       Purpose.
The purpose of this Agreement is to set forth the understanding and relationship between the Company and Consultant. The Company hereby
agrees to retain Consultant, and Consultant hereby agrees to provide certain services for the Company, as an independent contractor, and
not as an employee, upon the terms and conditions set forth below. As used in this Agreement, “Business” means the
Company’s business as a technology solutions provider specializing in brand protection functions such as counterfeit prevention,
authentication, serialization, and track and trace features for labels, packaging and products.

 

2.       Professional
Services. Consultant will provide consulting services as Founder and Chairman Emeritus Honorary Senior Consultant for the Company.
Consultant hereby agrees to provide to the Company those services listed in “Schedule A - Professional Services” (the “Services”)
attached hereto and made a part hereof, and as may be amended from time to time by the parties.

 

3.       Adherence
to Inside Trading Policies. Consultant acknowledges that the Company is publicly-held and, as a result, has implemented insider
trading policies designed to preclude those associated with the Company from violating the federal securities laws by trading on material,
non-public information or passing such information on to others in breach of any duty owed to the Company, or any third party.  Consultant
shall promptly execute any agreements generally distributed by the Company to its contractors and/or consultants requiring such individuals
to abide by its inside information policies. Subject to and without waiving this provision, the parties do not expect Consultant’s
Services hereunder to require him to access material, non-public information on a regular basis.

 

    	 	1	 

    	 

    

 

4.       Payment.

 

		a.	Fees. During the Term of this Agreement, the Company agrees to pay the following amounts: (a) One Hundred Seventy-Five Thousand
Dollars and No Cents ($175,000.00), paid in regular, equal installments, for Services performed during the first year of the Term, and
(b) Eighty-Seven Thousand Five Hundred Dollars and No Cents ($87,500.00), paid in regular, equal installments, for Services performed
during the second year of the Term. The aforementioned payments shall be made on the first calendar day (or the next business day) of
each month.

 

		b.	Additional Annual Fee. The Company shall pay Consultant an additional annual fee of Twelve Thousand Dollars and No Cents ($12,000.00)
payable in regular, equal installments on the first calendar day (or the next business day) of each month.

 

		c.	Outstanding Shares.

 

		i.	Consultant and the Company hereby acknowledge and agree that the following equity award granted to Consultant under the Company’s
2020 Equity Incentive Plan (the “2020 EIP”), shall be cancelled as of the Effective Date, as defined in Section 14(a)
of this Agreement: the 8,300 shares of restricted stock (“Restricted Stock”), granted to Consultant, which expire on
December 21, 2026. For the avoidance of doubt, effective as of the Effective Date, Consultant shall have no rights with respect to the
Restricted Stock referred to in this Section 4(c)(i).

 

		ii.	The equity award of 40,000 shares of Restricted Stock that was granted to Consultant under the 2020 EIP and previously subject to
vesting in August of 2021, shall fully vest as of the Effective Date, as defined in Section 14(a) of this Agreement. Consultant agrees
that during the Term of this Agreement, Consultant will not sell more than 5,000 shares of the Company’s common stock during any
trading day without prior approval of the Company, and the Company agrees to otherwise not block Consultant from selling shares of common
stock, including instructing the Company’s legal counsel to issue a legal opinion.

 

		iii.	Consultant’s existing grant of 90,000 stock options at an exercise price of $3.50 shall not be changed or affected by this Agreement,
except as specifically referenced in Section 14.

 

    	 	2	 

    	 

    

 

		d.	New Award. Consultant shall be granted an award of Restricted Stock under the 2020 EIP on April 15, 2021 (the “New
Award”). The New Award shall have a grant date fair value equal to $300,000, based on the ten-day value weighted average closing
price on April 15, 2021. The New Award shall be eligible to vest as follows: (i) $150,000 of the New Award (the “First Tranche”)
shall vest 100% immediately; (ii) $75,000 of the New Award (the “Second Tranche”) shall vest at the end of the first
year of the Term; and (iii) $75,000 of the New Award (the “Third Tranche”) shall vest at the end of the second year
of the Term. Except as provided below in Section 14, the vesting of the New Award (or any portion thereof) is in all cases subject to
Consultant’s continued service with the Company until the applicable vesting date. The New Award shall be subject to the terms and
conditions of the 2020 EIP and the underlying award agreement, which award agreement shall be consistent with the terms set forth herein.
Consultant and the Company hereby acknowledge and agree that no new equity awards shall be granted to Consultant during the Term, other
than the New Award.

 

		e.	As an independent contractor, Consultant agrees and understands that Consultant is not entitled to any other benefits and privileges
established for the Company’s executive officers or employees, such as life, accident or health insurance, vacation and sick leave
with pay, paid holidays, bonus plan participation, or severance pay upon termination of this Agreement for any reason. In accordance with
Consultant’s independent contractor status, payments and stock awards to Consultant shall not constitute wages/salary and therefore,
no amounts shall be deducted for Federal and State employment, Social Security or other taxes or employee benefit claims. Consultant shall
be individually responsible for filing and paying Consultant’s own taxes, as applicable. Except as provided for in this Agreement,
neither the Company nor any of its affiliates shall have any liability or obligation to Consultant for compensation or benefits as a result
of the Services or otherwise.

 

5.       Independent
Contractor. In the performance of the Services, duties and obligations undertaken by Consultant under this Agreement, it is
mutually understood and agreed that Consultant is at all times acting and performing as an independent contractor. Except for the establishment
of standards and parameters for the provision of Services hereunder, the Company shall neither have nor exercise control over the methods
by which Consultant shall perform the Services under this Agreement. However, this shall in no way interfere with the right of the Company
to determine whether Consultant is adequately, and in good faith, discharging Consultant’s duties under this Agreement. In connection
with the provision of Services, Consultant shall:

 

		a.	Perform the Services (i) in a professional and workmanlike manner; (ii) in compliance with this Agreement and all applicable specifications
established by the Company, and (iii) in compliance with all applicable statutes, acts, ordinances, laws, rules, regulations, codes and
standards;

 

		b.	At all times be solely responsible for all means, methods, techniques, sequences and procedures of the Services, and the acts and
omissions of Consultant, his agents and/or designees;

 

		c.	Have sole responsibility for the health, safety, and welfare of Consultant in performing the Services. At all times while performing
the Services at the Company, Consultant will also comply with all applicable Company health, safety, security and environmental procedures,
policies and guidelines;

 

    	 	3	 

    	 

    

 

		d.	Provide all equipment and materials necessary to provide the Services. Any failure of equipment or materials shall be the responsibility
of Consultant, and Consultant shall, at Consultant’s expense, take such measures as are necessary to ensure that the Services are
provided;

 

		e.	Be solely responsible for all expenses associated with office space, meetings, travel and any other costs related to providing the
Services, unless otherwise agreed to by the parties in advance. The Company will not provide Consultant with office space on the Company’s
premises, but may grant Consultant access to the Company facilities, from time to time, to provide Services hereunder;

 

		f.	Provide for, secure, and/or be solely responsible for any and all required fees, permits, Workers’ Compensation insurance coverage,
Unemployment Insurance, and Disability Insurance, Social Security contributions, income tax withholdings, and any other insurance or taxes,
including but not limited to Federal and State taxes, for Consultant in performing the Services pursuant to this Agreement;

 

		g.	Comply with all applicable laws, including all equal employment opportunity and non-discrimination requirements;

 

		h.	Be available at reasonable times to consult with appropriate representatives of the Company concerning any Services performed or to
be performed by Consultant under this Agreement, except that Consultant shall not be required to be make
himself available to the Company for more than eight (8) hours per week; and

 

		i.	Not assume or create any obligations, express or implied, debts or liabilities on behalf of or in the name of the Company. Consultant
has no authority to bind the Company, and Consultant will not make any arrangements or representations on behalf of the Company.

 

6.       Liability
Insurance and Indemnification. For any claims, suits, losses, or damages (“Claims”) alleged against Consultant
and/or any of the Company Parties (as defined below) that relate to any actions or omissions of Consultant in relation to his Services
to the Company prior to the date of this Agreement, the Company shall indemnify, defend and hold harmless Consultant, including through
the Company’s general liability insurance policy and directors and officers insurance policy to the full extent of those policies.
For any Claims that arise in relation to Consultant’s Services under this Agreement, the Company shall indemnify, defend and hold
harmless Consultant to the extent such indemnification and defense is provided by the Company’s general liability insurance policy.
“Company Parties” means the Company and its directors, officers, agents, and employees.

 

7.       Limitation
of Liability. In no event shall the Company be liable for special, indirect, incidental or consequential damages to the full
extent such may be disclaimed by law even if the Company has been advised of the possibility of such damages.

 

    	 	4	 

    	 

    

 

8.       Non-Competition.
Until termination of this Agreement and for a period of one year commencing on the date of termination, Consultant (individually or in
association with, or as a shareholder, director, officer, consultant, employee, partner, joint venture, member, or otherwise, of or through
any person, firm, corporation, partnership, association or other entity) shall not, directly or indirectly, compete with the Company (which
for the purpose of this Agreement also includes any of its subsidiaries or affiliates) by acting as an officer (or comparable position)
of, owning an interest in, or providing services to any entity within any metropolitan area in the United States or other country in which
the Company was actually engaged in business as of the time of termination of this Agreement or where the Company reasonably expected
to engage in business within three months of the date of termination of this Agreement. For purposes of this Agreement, the term “compete
with the Company” shall refer to any business activity in which the Company was engaged as of the termination of this Agreement
or reasonably expected to engage in within three months of termination of this Agreement; provided, however, the foregoing shall
not prevent Consultant from (i) accepting employment or acting as a consultant to an enterprise engaged in two or more lines of business,
one of which is the same or similar to the Company's Business (the “Prohibited Business”) if the Consultant’s
services are totally unrelated to the Prohibited Business, (ii) competing in a country where as of the time of the alleged violation the
Company has ceased engaging in business, or (iii) competing in a line of business which as of the time of the alleged violation the Company
has either ceased engaging in or publicly announced or disclosed that it intends to cease engaging in; provided, further, the foregoing
shall not prohibit the Consultant from owning up to five percent of the securities of any publicly-traded enterprise provided as long
as the Consultant is not a director, officer, consultant, employee, partner, joint venture, manager, or member of, or to such enterprise,
or otherwise compensated for services rendered thereby.

 

9.       Non-Solicitation.

 

		a.	During the periods in which the provisions of Section 8 shall be in effect, the Consultant, directly or indirectly, will not seek
nor accept Prohibited Business from any Customer (as defined below) on behalf of any enterprise or business other than the Company, refer
Prohibited Business from any Customer to any enterprise or business other than the Company or receive commissions based on sales or otherwise
relating to the Prohibited Business from any Customer, or any enterprise or business other than the Company. For purposes of this Agreement,
the term “Customer” means any person, firm, corporation, partnership, limited liability company, association or other
entity to which the Company or any of its affiliates sold or provided goods or services during the 24-month period prior to the time at
which any determination is required to be made as to whether any such person, firm, corporation, partnership, limited liability company,
association or other entity is a Customer, or who or which was approached by or who or which has approached an employee of the Company
for the purpose of soliciting business from the Company or the third party, as the case may be. Provided, however, the goods or services
must be competitive in some respect to the Company's business during such time.

 

    	 	5	 

    	 

    

 

		b.	During the period in which the provisions of Sections 8 and 9(a) shall be in effect, Consultant agrees that Consultant shall not,
directly or indirectly, request, recommend or advise any employee of the Company to terminate his or her employment with the Company,
for the purposes of providing services for a Prohibited Business, or solicit for employment or recommend to any third party the solicitation
for employment of any individual who was employed by the Company or any of its subsidiaries and affiliates at any time during the one
year period preceding Consultant’s termination of employment.

 

10.     Non-Disparagement.
Consultant and the Company agree that during the term of this Agreement and after the termination of this Agreement, they will refrain
from making, in writing or orally, any unfavorable comments about the other, including its or his performance, operations, policies, or
procedures that would be likely to injure the other party’s reputation or business prospects; provided, however, that (1)
nothing herein shall preclude Consultant or the Company from responding truthfully to a lawful subpoena or other compulsory legal process
or from providing truthful information otherwise required by law; and (2) nothing herein shall limit the confidential, internal communications
of the Company’s Board, directors or officers.

 

11.     Non-Exclusive
Agreement. Nothing contained in this Agreement shall interfere with Consultant’s engagement in other occupation, or Consultant’s
ability to provide similar services to any other outside party. However, during the Term, as defined in this Agreement, Consultant will
not engage in any work or business activity, paid or unpaid, enter into an agreement, or accept an obligation, that (a) is inconsistent
with Consultant’s obligations, or the Services to be rendered for the Company, under this Agreement, or (b) creates an actual or
potential conflict of interest with the Company.

 

12.     Confidential
Information. “Confidential Information” consists of information relating to the Business or interests of
the Company, including, but not limited to, information concerning facilities, services, suppliers, business partners, operations, research,
finances, processes and procedures, employees, clients/customers or prospective clients/customers (including mailing lists, marketing
techniques, advertising, promotions, etc.), and any information obtained through access to any information system (including computers,
networks, voice mail, etc.) which, if not otherwise described above, is of such a nature that a reasonable person would believe it to
be confidential or proprietary. The term “Confidential Information” also includes, but is not limited to, information expressly
identified as confidential as well as any and all trade secrets, intellectual property (whether or not patented or registered), customer
lists, details of customer contracts, vendor information, pricing policies, operational methods, marketing plans or strategies, processes,
techniques, computer software and source code, manufacturing methods, designs, materials, formulae, programs, contract forms, analyses,
budgets, business or strategic plans, advertising formats, financial structures, program booklets, projections, training programs, recording
systems, accounting reports, management systems, business acquisition plans and new personnel acquisition plans of the Company or any
of its parents or affiliates, and related materials which are unique to the Company and used by and developed by or for the Company in
the conduct or promotion of its Business, which is not generally known to the industry in which the Company or its affiliates are or may
become engaged. At all times, all Confidential Information shall remain the property of the Company. The term “Confidential Information”
excludes information that: (a) is made public by the Company, other than as a result of disclosure by Consultant; (b) becomes generally
available to the public, other than as the result of disclosure by Consultant or other party in violation of any obligation of confidentiality
to the Company; or (c) Consultant obtains, after the Effective Date, as defined in Section 14(a) of this Agreement, from sources other
than the Company and not under a confidentiality obligation to the Company.

 

    	 	6	 

    	 

    

 

		a.	Consultant will not, directly or indirectly, at any time, without the prior written consent of the Company, disclose, use (other than
in performing the Services), copy, reproduce or retain in Consultant’s possession, in any manner, any Confidential Information.
On the termination of this Agreement or upon the prior request of the Company, Consultant will return to the Company all Confidential
Information then in Consultant’s possession or within Consultant’s control and will, on the reasonable request of the Company,
certify to the Company that Consultant has returned the same.

 

		b.	Consultant will protect the confidentiality of and prevent unauthorized use, dissemination, reproduction or publication of Confidential
Information. Consultant will not use Confidential Information for any purpose other than performing Services under this Agreement. Consultant
will neither publish nor reveal any Confidential Information to anyone except authorized Company employees, nor shall Consultant make
any use, directly or indirectly, of Confidential Information without the prior written consent of the Company. Consultant will protect
the confidentiality of Confidential Information with the same degree of care as Consultant uses for Consultant’s own similar information.
The restrictions on Consultant using, publishing or revealing Confidential Information continue perpetually unless the Company agrees
otherwise in writing.

 

		c.	Consultant recognizes that the Company has received and in the future will receive from third parties (including Company suppliers
and clients) confidential or proprietary information on the condition that the Company maintain the confidentiality of such information
and use it only for certain limited purposes. Consultant agrees that Consultant owes the Company and such third parties, during the Term
of this Agreement and thereafter, a duty to hold all such confidential and proprietary information in the strictest confidence and not
to disclose it to any person, firm, or corporation (except as necessary in carrying out Consultant’s work for the Company in a manner
consistent with the Company’s agreement with such third party, to the extent permitted by law) or to use it for the benefit of anyone
other than for the Company or such third party (consistent with the Company’s agreement with such third party) without the express
prior written authorization of the Company.

 

		d.	Consultant is hereby notified and understands that under the Defend Trade Secrets Act of 2016 (the “Act”), an individual
shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (i)
is made (A) in confidence to a Federal, State or local government official, either directly or indirectly, or to an attorney; and (B)
solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed
in a lawsuit or other proceeding, if such filing is made under seal. Consultant further understands that under the Act, an individual
who files a lawsuit for retaliation for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual
and use the trade secret information in the court proceeding, if the individual: (i) files any document containing the trade secret under
seal; and (ii) does not disclose the trade secret, except pursuant to court order.

 

    	 	7	 

    	 

    

 

		e.	Whistleblower Protection. Nothing in this Agreement prevents Consultant from reporting alleged unlawful conduct to, providing
truthful information to, cooperating with, filing a charge or complaint with and/or participating in any investigation or proceeding with
a federal, state or local agency or self-regulatory organization charged with enforcement of any laws, including the Securities and Exchange
Commission; provided, however, that you agree not to disclose confidential information that is subject to a legal privilege of the Company,
including but not limited to the attorney-client privilege and attorney work product protection.

 

13.     Ownership
of Work Product and Inventions. All services rendered by Consultant for the Company, whether performed before the execution
of this Agreement or during the Term of this Agreement, and the results and proceeds thereof, and all inventions, improvements, developments,
ideas, discoveries, materials of any type, nature or description whatsoever conceived, created, developed, contributed, designed and/or
originated by Consultant and/or in connection with this Agreement, shall be the sole and exclusive property of the Company, free and clear
of any and all rights and claims by Consultant or any other person or entity. Consultant hereby waives, agrees not to assert any rights
to, and expressly assigns and transfers to the Company all data, information, ideas, innovations, work products, discoveries, improvements,
inventions, trademarks, copyrights, computer programs, applications or systems, and other work products, developments or improvements
of any kind (collectively, the “Creations”) conceived or created by Consultant, alone or with others, during the Term
of this Agreement that are within the scope of the Business or that relate to the Services, any of the Company’s work, or projects
for the Company, its employees, its clients or itself. Consultant agrees to assist the Company to obtain any and all patents, copyrights,
trademarks, trade names, patents or the like to vest rights and ownership in the Creations in the Company.

 

Upon the Company’s request, Consultant shall
provide the Company with access to review the ongoing work of Consultant in relation to the Services. Immediately upon termination of
this Agreement for any reason, Consultant shall promptly provide all Creations developed or prepared in performance of the Services in
whatever form (including works in progress), to the Company.

 

14.     Term
and Termination.

 

		a.	Term. The term of this Agreement (the “Term”) shall commence on June 30, 2021
(the “Effective Date”) and shall continue for a period of two (2) years, unless terminated sooner pursuant to the provisions
of this Section 14. Company shall pay Consultant the remaining fees under the 2017 Agreement through June 30, 2021.

 

		b.	Termination Upon Death or Disability. This Agreement and the Term shall terminate immediately upon the death or Disability
of Consultant. As used herein, “Disability” means the inability of Consultant to perform the Services for thirty (30)
or more days during the Term as a result of any illness, injury, accident or condition of either a physical or psychological nature.

 

    	 	8	 

    	 

    

 

		c.	Termination by Company for Cause. The Company may terminate this Agreement and the Term effective immediately upon written
notice to Consultant, if (i) Consultant is convicted of, or pleads guilty or nolo contendere to, a felony related to the business of the
Company; (ii) Consultant, in carrying out his duties hereunder, has acted with gross negligence or intentional misconduct resulting, in
any case, in material harm to the Company; (iii) Consultant misappropriates Company funds or otherwise defrauds the Company in a matter
involving a material amount of money or property; (iv) Consultant breaches his fiduciary duty to the Company resulting in material profit
to him, directly or indirectly; (v) Consultant materially breaches any agreement with the Company and fails to cure such breach within
10 days of receipt of notice, unless the act is incapable of being cured; (vi) Consultant breaches any provision of Sections 8, 9, 10
or 12; (vii) Consultant becomes subject to a preliminary or permanent injunction issued by a United States District Court enjoining Consultant
from violating any securities law administered or regulated by the Securities and Exchange Commission; (viii) Consultant becomes subject
to a cease and desist order or other order issued by the Securities and Exchange Commission after an opportunity for a hearing; (ix) Consultant
refuses to carry out a resolution adopted by the Company’s Board at a meeting in which Consultant was offered a reasonable opportunity
to argue that the resolution should not be adopted; or (x) Consultant abuses alcohol or drugs in a manner that interferes with the successful
performance of his duties.

 

		d.	Termination by Company without Cause. The Company may terminate this Agreement and the Term at any time, without cause, upon
written notice to Consultant. Upon notice of termination, Consultant will continue to render the Services under this Agreement until the
effective date of termination, unless the parties mutually agree otherwise or the Company determines in its sole discretion that such
continued services by Consultant will pose a threat to the health and safety of its employees or customers and/or to the Business of the
Company in which case the Company may terminate the Agreement and the Term immediately. Prior to the termination date, Consultant shall
make a reasonable attempt to finish all work in progress.

 

		e.	Termination by Consultant. Consultant may terminate this Agreement and the Term at any time upon thirty (30) days’ prior
written notice to the Company. Following notice of termination, Consultant will continue to render the Services under this Agreement until
the effective date of termination, unless the parties mutually agree otherwise or the Company determines in its sole discretion that such
continued services by Consultant will pose a threat to the health and safety of its employees or customers and/or to the Business of the
Company in which case the Company may terminate the Agreement and the Term immediately. Prior to the termination date, Consultant shall
make a reasonable attempt to finish all work in progress.

 

    	 	9	 

    	 

    

 

		f.	Effect of Termination.

 

		i.	Upon the death or Disability of Consultant, or the termination by the Company of Consultant without Cause: (A) the Company shall continue
to make payments provided under Section 4(a) and 4(b) until the end of the original Term; and (B) all unvested portions of the New Award
will accelerate and become fully vested upon the date of the death or Disability of Consultant, or the date of termination by the Company
of Consultant without Cause.

 

		ii.	Upon the termination by the Company of Consultant with Cause or the termination by Consultant, (A) the Company shall continue to make
payments provided under Section 4(a), but only with respect to remaining payments for the first year of the Term, if any; and (B) all
unvested portions of the New Award will cease to vest and Consultant shall have no rights with respect to the unvested portions of the
New Award.

 

		iii.	In all cases, upon expiration or termination of this Agreement, and except as otherwise provided for in this Agreement, (A) Consultant
shall promptly return to Company all Company property, including the Company property provided to Consultant to perform the Services,
and all computer programs, files, documentation, media, related material and any other material that is owned by the Company or that contains
Confidential Information of the Company; and (B) the Company shall pay Consultant in accordance with Section 4(a), for Services performed
prior to the effective date of termination, but otherwise, Company shall have no further liability or obligation to Consultant pursuant
to this Agreement. In all cases, upon expiration or termination of this Agreement, the payments described in this Section and the treatment
of any stock awards are subject to the execution by Consultant (or the personal representative or executor of Consultant’s estate
following Consultant’s death, or Consultant’s personal representative following Consultant’s incapacitation due to Disability)
of a general release of claims and non-disparagement agreement in favor of the Company on or following the date of termination, in a form
determined in the sole discretion of the Company, and non-revocation of the Release prior to the expiration of the revocation period contained
therein.

 

		iv.	In the event of Consultant’s death or incapacity, before or after any event of termination as set forth above, Consultant’s
survivor or power of attorney, as the case may be, shall have the same rights as Consultant to exercise his New Award, his other vested
shares and his vested options.

 

    	 	10	 

    	 

    

 

15.     Choice
of Law. This Agreement shall be construed in accordance with and governed by the laws of the State of New York, without regard
to its conflict of laws principles. The parties to this Agreement hereby agree to the exclusive jurisdiction over such parties and over
the subject matter of any action or proceeding arising under this Agreement by a competent Court located in Monroe County, New York, or
by a United States District Court sitting in the Western District of New York, exclusively, and agree not to contest jurisdiction in an
action brought under this Agreement. Consultant agrees to waive any defense based on jurisdiction and/or venue and agrees to accept service
of process by mail in an action brought under this Agreement.

 

16.     Modification.
This Agreement shall not be modified or amended except by an instrument in writing signed by the parties hereto.

 

17.     Assignment.
Consultant shall not assign any of Consultant’s rights, duties or obligations under this Agreement without the prior written consent
of the Company.

 

18.     No
Waiver. Any purported waiver of any default, breach or non-compliance under this Agreement is not effective unless in writing
and signed by the party to be bound by the waiver. No amendment of this Agreement will be effective unless made in writing and signed
by the parties.

 

19.     Survival.
Sections 6, 7, 8, 9, 10, 12, 13, 14(f), 15, 18, 19, 20, 21, 22, and 23 shall survive the expiration or termination of this Agreement and/or
the Term.

 

20.     Notices.
All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing, and shall be sufficiently
given if delivered to the addressees in person, by FedEx or similar receipted delivery, or next business day delivery to the addresses
detailed below (or to such other address, as either of them, by notice to the other may designate from time to time), or by e-mail delivery
(in which event a copy shall immediately be sent by FedEx or similar receipted delivery), as follows:

 

	If to Consultant:	 	Norman Gardner
	 	 	__________	 
	 	 	__________	 
	 	 	Email:	 	 
	 	 	 	 
	If to the Company:	 	Patrick White
	 	 	Chief Executive Officer
	 	 	VerifyMe, Inc.
	 	 	__________	 
	 	 	__________	 
	 	 	Email: 	 	 
	 	 	 	 
	With a copy to:	 	Harter Secrest & Emery LLP
	 	 	1600 Bausch & Lomb Place
	 	 	Rochester, NY 14604
	 	 	Attention: Alex R. McClean, Esq.

Email: [__________]

 

    	 	11	 

    	 

    

 

Either party may at any time give
notice in writing to the other of any change of address of the party giving such notice and from and after the giving of such notice the
address therein specified shall be deemed to be the address of such party for the giving of notices hereunder.

 

21.     Severability.
If any provision of this Agreement otherwise is deemed to be invalid or unenforceable or is prohibited by the laws of the state or jurisdiction
where it is to be performed, this Agreement shall be considered divisible as to such provision and such provision shall be inoperative
in such state or jurisdiction and shall not be part of the consideration moving from either of the parties to the other.  The remaining
provisions of this Agreement shall be valid and binding and of like effect as though such provisions were not included.

 

22.     Remedies.
The remedies of each party hereunder shall be cumulative and concurrent, and may be pursued singularly, successively, or together, in
such party’s sole discretion. Consultant acknowledges that breach of any of the covenants contained in this Agreement, including
in Sections 8 and 9, will result in material, irreparable injury to the Company for which there is no adequate remedy at law, that it
may not be possible to measure damages for such injuries precisely, and that, in the event of such a breach, or threat thereof, the Company
shall be entitled to obtain a temporary restraining order or preliminary or permanent injunction restraining Consultant from engaging
in activities prohibited by this Agreement or such other relief as may be required to specifically enforce the covenants in this Agreement.
Without limitation of the generality of the foregoing, in the event of a breach by Consultant of the covenants contained in this Agreement,
Company shall be entitled, in addition to any other remedies that it may have, to specific, injunctive or other equitable relief (without
the requirement of posting of a bond or other security) in order to enforce such provision. The Company’s right to seek and obtain
equitable relief does not prevent or limit it from seeking other lawful or equitable relief against Consultant for a breach of the covenants
contemplated by this Agreement. If the Company or Consultant brings an action to enforce the provisions of this Agreement, then the prevailing
party in any such action shall be entitled to recover from the opposing party its reasonable attorneys’ fees, costs and disbursements.

 

23.     Entire
Agreement. The above recitals are hereby incorporated into and made a part of this Agreement. This Agreement constitutes the
entire agreement between the parties relating to its subject matter, and supersedes all prior agreements, understandings, negotiations
and discussions, whether oral or written, with the exception of the 2020 Equity Incentive Plan. There are no other conditions, warranties,
representations or other agreements between the parties in connection with the subject matter of this Agreement. Neither this Agreement
nor any provision hereof may be changed, waived, discharged or terminated orally, except by a statement in writing signed by the party
or parties against which enforcement or the change, waiver discharge or termination is sought.

 

24.     Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall for all purposes be deemed to be an original and all of
which shall constitute the same instrument.

 

[Signature Page to Follow]

 

 

    	 	12	 

    	 

    

 

 

In Witness
Whereof, the parties hereto have executed this Agreement effective as of the Effective Date.

 

	 	 	VERIFYME, INC.:	 	 	 	CONSULTANT:	 
	 	 	 	 	 	 	 	 
	By:	 	/s/ Patrick White	 	By:	 	/s/ Norman Gardner	 
	Name:	 	Patrick White	 	 	 	Norman Gardner	 
	Title:	 	CEO	 	 	 	 	 
	 	 	 	 	 	 	 	 
	Address:	 	75 S. Clinton Ave. 	 	Address:	 	 	 
	 	 	Suite 510 	 	 	 	 	 
	 	 	Rochester, New York	 	 	 	 	 
	 	 	14604	 	 	 	 	 
	 	 	 	 	 	 	 	 
	Date:	 	April 15	, 2021	Date:	 	April 15	, 2021

 

    	 	13	 

    	 

    

 

SCHEDULE A

 

 

1.       Professional
Services.

 

During the Term, Consultant shall serve as Founder
and Chairman Emeritus Honorary Senior Consultant to the Company, reporting to the Chief Executive Officer of the Company, providing consulting
services for the Company.

 

Consultant shall not be required
to be make himself available to the Company for more than eight (8) hours per week.

 

Work priority and deadlines will be determined by
the Company. Consultant will report directly to the Chief Executive Officer of the Company and to any other party designated by name in
connection with performance of any and all Services under this Agreement.

 

 

14

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