Document:

Exhibit

          10.1

      

     

      

    INDEMNIFICATION AGREEMENT

     

    
      This Indemnification Agreement (the “Agreement”) is made as of _________ by and between SolarEdge Technologies, Inc., a Delaware corporation (the “Company”) and ___________ (the “Indemnitee”).

    

    

    

    RECITALS

     

    The Company and Indemnitee recognize the increasing difficulty in obtaining liability insurance for directors, officers,
      controlling persons and key employees, the significant increases in the cost of such insurance and the general reductions in the coverage of such insurance.  The Company and Indemnitee further recognize the substantial increase in corporate
      litigation in general, subjecting directors, officers, controlling persons and key employees to expensive litigation risks at the same time as the availability and coverage of liability insurance has been severely limited.  Indemnitee does not regard
      the current protection available as adequate under the present circumstances, and Indemnitee and agents of the Company may not be willing to continue to serve as agents of the Company without additional protection.  The Company desires to attract and
      retain the services of highly qualified individuals, such as Indemnitee, and to indemnify its directors, officers, controlling persons and key employees so as to provide them with the maximum protection permitted by law.

     

    AGREEMENT

     

    In consideration of the mutual promises made in this Agreement, and for other good and valuable consideration, receipt of
      which is hereby acknowledged, the Company and Indemnitee hereby agree as follows:

     

    I.          Indemnification.

     

    A.          Third Party Proceedings.  The Company shall indemnify Indemnitee (including its directors, officers, partners, members, employees, agents and spouse, as applicable) and each person who controls any of them
        or who may be liable within the meaning of Section 15 of the Securities Act of 1933, as amended (the “Securities Act”), or Section 20 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) to the fullest extent
        permitted by law if Indemnitee is, was or becomes a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or
        in the right of the Company): (i) by reason of the fact that Indemnitee is or was or may be deemed to be a director, officer, controlling person, stockholder, fiduciary, employee or agent of the Company, or any subsidiary of the Company; (ii) by
        reason of any action or inaction on the part of Indemnitee while a director, officer, controlling person, stockholder, fiduciary, employee or agent or by reason of the fact that Indemnitee is or was or may be deemed to be serving at the request of
        the Company as a director, officer, controlling person, stockholder, fiduciary, employee or agent of another corporation, partnership, limited liability company, joint venture, trust or other enterprise; or (iii) by reason of any action or inaction
        on the part of Indemnitee while serving in such capacity.  Indemnification shall include, without limitation, any and all losses, claims, damages, expenses and liabilities, joint or several (including any investigation, legal and other expenses
        incurred in connection with, and any amount paid in settlement of, any action, suit, proceeding or any claim asserted) under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise or
        which relate directly or indirectly to the registration, purchase, sale or ownership of any securities of the Company or to any fiduciary obligation owed with respect thereto or as a direct or indirect result of any claim made by any stockholder of
        the Company against Indemnitee and arising out of or related to any round of financing of the Company (including but not limited to claims regarding non-participation, or non-prorata participation, in such round by such stockholder), or made by a
        third party against Indemnitee based on any misstatement or omission of a material fact by the Company in violation of any duty of disclosure imposed on the Company by federal or state securities or common laws, against any and all expenses
        (including attorneys’ fees and all other costs, expenses and obligations incurred in connection with investigating, defending a witness in or participating in (including on appeal), or preparing to defend, be a witness in or participate in, any
        such action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry or investigation), judgments, fines and, to the fullest extent permitted by law, amounts paid in settlement (if, and only if, such settlement is approved in
        advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee in connection with such action, suit or proceeding, and any federal, state, local or foreign taxes imposed on Indemnitee as a
        result of the actual or deemed receipt of any payments under this Agreement (collectively, hereinafter “Expenses”), including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, if
        Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe Indemnitee’s
        conduct was unlawful.  The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good
        faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, or, with respect to any criminal action or proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s
        conduct was unlawful.

    
      
        

    

     

    B.          Proceedings By or in the Right of the Company.  The Company shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to any threatened, pending or completed action or
        proceeding by or in the right of the Company or any subsidiary of the Company to procure a judgment in its favor by reason of the fact that Indemnitee is or was or may be deemed to be a director, officer, controlling person, stockholder, fiduciary,
        employee or agent of the Company, or any subsidiary of the Company, by reason of any action or inaction on the part of Indemnitee while a director, officer, controlling person, stockholder, fiduciary, employee or agent or by reason of the fact that
        Indemnitee is or was or may be deemed to be serving at the request of the Company as a director, officer, controlling person, stockholder, fiduciary, employee or agent of another corporation, partnership, joint venture, trust or other enterprise,
        against Expenses and, to the fullest extent permitted by law, amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably withheld), in each case to the extent actually and
        reasonably incurred by Indemnitee in connection with the defense or settlement of such action or suit if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and
        its stockholders; provided, however, no indemnification shall be made in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudicated by court order or judgment to be liable to the Company in the performance of
        Indemnitee’s duty to the Company and its stockholders unless and only to the extent that the court in which such action or proceeding is or was pending shall determine upon application that, in view of all the circumstances of the case, Indemnitee
        is fairly and reasonably entitled to indemnity for such expenses which such court shall deem proper.

     

    C.          Mandatory Payment of Expenses.  To the extent that Indemnitee has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Section 1(a) or Section 1(b) or the
        defense of any claim, issue or matter therein, Indemnitee shall be indemnified against Expenses actually and reasonably incurred by Indemnitee in connection therewith.

     

    D.          Change of Control.  The Company agrees that if there is a Change in Control (as defined below) of the Company (other than a Change in Control which has been approved by a majority of the Company’s Board of
        Directors who were directors immediately prior to such Change in Control) then, with respect to all matters thereafter arising concerning the rights of Indemnitee to payments of Expenses under this Agreement or any other agreement or under the
        Company’s Certificate of Incorporation, as amended (the “Certificate”), or Bylaws as now or hereafter in effect, Independent Legal Counsel (as defined below) shall be selected by the Indemnitee and approved by the Company (which approval
        shall not be unreasonably withheld).  Such counsel, among other things, shall render its written opinion to the Company and Indemnitee as to whether and to what extent Indemnitee would be permitted to be indemnified under applicable law.  The
        Company agrees to abide by such opinion and to pay the reasonable fees of the Independent Legal Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating
        to this Agreement or its engagement pursuant hereto.

     

    II.          No Employment Rights.  Nothing contained in this Agreement is intended to create in Indemnitee any right to employment by the Company.

     

    III.          Expenses; Indemnification Procedure.

     

    A.          Advancement of Expenses.  The Company shall advance all expenses incurred by Indemnitee in connection with the investigation, defense, settlement or appeal of any civil or criminal action, suit or
        proceeding referred to in Section 1(a) or Section 1(b) hereof (including amounts actually paid in settlement of any such action, suit or proceeding).  Indemnitee hereby undertakes to repay such amounts advanced only if, and to the extent that, it
        shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company as authorized hereby.

     

    B.          Notice/Cooperation by Indemnitee.  Indemnitee shall, as a condition precedent to his, her or its right to be indemnified under this Agreement, give the Company notice in writing as soon as practicable of
        any claim made against Indemnitee for which indemnification will or could be sought under this Agreement.  Notice to the Company shall be directed to the Chief Executive Officer of the Company and shall be given in accordance with the provisions of
        Section 12(d) below.  In addition, Indemnitee shall give the Company such information and cooperation as it may reasonably require and as shall be within Indemnitee’s power.

    
      
        

    

     

    C.          Procedure.  Any indemnification and advances provided for in Section 1 and this Section 3 shall be made no later than twenty (20) days after receipt of the written request of Indemnitee.  If a claim under
        this Agreement, under any statute, or under any provision of the Company’s Certificate or Bylaws providing for indemnification, is not paid in full by the Company within twenty (20) days after a written request for payment thereof has first been
        received by the Company, Indemnitee may, but need not, at any time thereafter bring an action against the Company to recover the unpaid amount of the claim and, subject to Section 11 of this Agreement, Indemnitee shall also be entitled to be paid
        for the expenses (including attorneys’ fees) of bringing such action.  It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in connection with any action, suit or proceeding in advance of
        its final disposition) that Indemnitee has not met the standards of conduct which make it permissible under applicable law or this Agreement for the Company to indemnify Indemnitee for the amount claimed, but the burden of proving such defense
        shall be on the Company and Indemnitee shall be entitled to receive interim payments of expenses pursuant to Section 3(a) unless and until such defense may be finally adjudicated by court order or judgment from which no further right of appeal
        exists.  It is the parties’ intention that if the Company contests Indemnitee’s right to indemnification, the question of Indemnitee’s right to indemnification shall be for the court to decide, and neither the failure of the Company (including its
        Board of Directors, any committee or subgroup of the Board of Directors, Independent Legal Counsel, or its stockholders) to have made a determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the
        applicable standard of conduct required by applicable law, nor an actual determination by the Company (including its Board of Directors, any committee or subgroup of the Board of Directors, Independent Legal Counsel, or its stockholders) that
        Indemnitee has not met such applicable standard of conduct, shall create a presumption that Indemnitee has or has not met the applicable standard of conduct.

     

    D.          Notice to Insurers.  If, at the time of the receipt of a notice of a claim pursuant to Section 3(b) hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt
        notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies.  The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of
        the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.

     

    E.          Selection of Counsel.  In the event the Company shall be obligated under Section 3(a) hereof to pay the expenses of any proceeding against Indemnitee, the Company, if appropriate, shall be entitled to
        assume the defense of such proceeding, with counsel approved by Indemnitee, which approval shall not be unreasonably withheld or delayed, upon the delivery to Indemnitee of written notice of its election so to do.  After delivery of such notice,
        approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same
        proceeding, provided that (i) Indemnitee shall have the right to employ counsel in any such proceeding at Indemnitee’s expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee
        shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or (C) the Company shall not, in fact, have employed counsel to assume the defense of such proceeding,
        then the fees and expenses of Indemnitee’s counsel shall be at the expense of the Company.

    
      
        

    

     

    IV.          Additional Indemnification Rights; Nonexclusivity.

     

    A.          Scope.  Notwithstanding any other provision of this Agreement, the Company hereby agrees to indemnify the Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not
        specifically authorized by the other provisions of this Agreement, the Company’s Certificate, the Company’s Bylaws or by statute.  In the event of any change, after the date of this Agreement, in any applicable law, statute, or rule which expands
        the right of a Delaware corporation to indemnify a member of its board of directors or an officer, controlling person, stockholder, fiduciary, employee or agent such changes shall be deemed to be within the purview of Indemnitee’s rights and the
        Company’s obligations under this Agreement.  In the event of any change in any applicable law, statute or rule which narrows the right of a Delaware corporation to indemnify a member of its board of directors or an officer, controlling person,
        stockholder, fiduciary, employee or agent, such changes, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement shall have no effect on this Agreement or the parties’ rights and obligations hereunder.

     

    B.          Nonexclusivity.  The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled under the Company’s Certificate, its Bylaws, any agreement,
        any vote of stockholders or disinterested members of the Company’s Board of Directors, the General Corporation Law of the State of Delaware, or otherwise, both as to action in Indemnitee’s official capacity and as to action in another capacity
        while holding such office.  The indemnification provided under this Agreement shall continue as to Indemnitee for any action taken or not taken while serving in an indemnified capacity even though he or she may have ceased to serve in any such
        capacity at the time of any action, suit or other covered proceeding.

     

    V.     
              Partial Indemnification.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the expenses, judgments, fines or penalties
        actually or reasonably incurred in the investigation, defense, appeal or settlement of any civil or criminal action, suit or proceeding, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the
        portion of such expenses, judgments, fines or penalties to which Indemnitee is entitled.

     

    VI.          Mutual Acknowledgment.  Both the Company and Indemnitee acknowledge that in certain instances, Federal law or public policy may override applicable state law and prohibit the Company from indemnifying its
        officers, controlling persons, stockholders, fiduciaries, employees or agents under this Agreement or otherwise.  For example, the Company and Indemnitee acknowledge that the Securities and Exchange Commission (the “SEC”) has taken the
        position that indemnification is not permissible for liabilities arising under certain federal securities laws, and federal legislation prohibits indemnification for certain ERISA violations.  Indemnitee understands and acknowledges that the
        Company has undertaken or may be required in the future to undertake with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee.

    
      
        

    

     

    VII.        

        Officer and Director Liability Insurance.  The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or
        policies of insurance with reputable insurance companies providing the officers and directors of the Company with coverage for losses from wrongful acts, or to ensure the Company’s performance of its indemnification obligations under this
        Agreement.  Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection afforded by such coverage.  In all policies of director and officer liability insurance, Indemnitee shall be named
        as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s directors, if Indemnitee is a director; or of the Company’s officers, if Indemnitee is not a
        director of the Company but is an officer; or of the Company’s controlling persons, if Indemnitee is a controlling person of the Company; or of the Company’s stockholders, if Indemnitee is a stockholder of the Company; or of the Company’s
        fiduciaries, if Indemnitee is a fiduciary of the Company; or of the Company’s key employees, if Indemnitee is not an officer or director but is a key employee.  Notwithstanding the foregoing, the Company shall have no obligation to obtain or
        maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such
        insurance is limited by exclusions so as to provide an insufficient benefit, or if Indemnitee is covered by similar insurance maintained by a parent or subsidiary of the Company.

     

    VIII.      

        Severability.  Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of applicable law.  The Company’s inability,
        pursuant to court order, to perform its obligations under this Agreement shall not constitute a breach of this Agreement.  The provisions of this Agreement shall be severable as provided in this Section 8.  If this Agreement or any portion hereof
        shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify Indemnitee to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated, and
        the balance of this Agreement not so invalidated shall be enforceable in accordance with its terms.

     

    IX.          Exceptions.  Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

     

    A.          Claims Initiated by Indemnitee.  To indemnify or advance expenses to Indemnitee with respect to proceedings or claims initiated or brought voluntarily by Indemnitee and not by way of defense, except with
        respect to proceedings brought to establish or enforce a right to indemnification under this Agreement or any other statute or law or otherwise as required under Section 145 of the Delaware General Corporation Law, but such indemnification or
        advancement of expenses may be provided by the Company in specific cases if the Board of Directors finds it to be appropriate;

    
      
        

    

     

    B.          Fraud.  To indemnify an Indemnitee if a final decision by a court having jurisdiction in the matter shall determine that the Indemnitee has committed fraud on the Company;

     

    C.          Insured Claims.  To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in
        settlement) to the extent such expenses or liabilities have been paid directly to Indemnitee by an insurance carrier under a policy of officers’ and directors’ liability insurance maintained by the Company;

     

    D.          Claims under Section 16(b).  To indemnify Indemnitee for expenses or the payment of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Securities
        Exchange Act of 1934, as amended, or any similar successor statute; and

     

    E.          Other Exceptions.  To indemnify or advance expenses to Indemnitee with respect to proceedings or claims arising from (i) acts or omissions by the Indemnitee that involve intentional misconduct or a knowing
        and culpable violation of law; (ii) any transaction from which the Indemnitee derived an improper personal benefit; (iii) acts or omissions that show a reckless disregard for the Indemnitee’s duty to the Company or its stockholders in circumstances
        in which the Indemnitee was aware, or should have been aware; and (iv) act or omission that constitute an unexcused pattern of inattention that amounts to an abdication of the Indemnitee’s duty to the Company or the stockholders.

     

    X.     

             Construction of Certain Phrases.

     

    A.          For

        purposes of this Agreement, references to the “Company” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its
        separate existence had continued, would have had power and authority to indemnify its directors, officers, and controlling persons, stockholders, fiduciaries, employees or agents, so that if Indemnitee is or was a director, officer, controlling
        person, stockholder, fiduciary, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, controlling person, stockholder, fiduciary, employee or agent of another
        corporation, partnership, joint venture, trust or other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with respect to
        such constituent corporation if its separate existence had continued.

     

    B.          For

        purposes of this Agreement, references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and references
        to “serving at the request of the Company” shall include any service as a director, officer, administrator, controlling person, stockholder, fiduciary, employee or agent of the Company which imposes duties on, or involves services by, such
        director, officer, administrator, controlling person, stockholder, fiduciary, employee or agent with respect to an employee benefit plan, its participants, or beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee
        reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this
        Agreement.

    
      
        

    

     

    C.          For

        purposes of this Agreement, a “Change in Control” shall mean a Deemed Liquidation Event, as defined in the Company’s Amended and Restated Certificate of Incorporation, as amended from time to time.

     

    D.          For

        purposes of this Agreement, “Independent Legal Counsel” shall mean an attorney or firm of attorneys, selected in accordance with the provisions of Section 1(d) hereof, who shall not have otherwise performed services for the Company or any
        Indemnitee within the last three years (other than with respect to matters concerning the rights of any Indemnitee under this Agreement, or of other indemnitees under similar indemnity agreements.

     

    E.          For

        purposes of this Agreement, “Voting Securities” shall mean any securities of the Company that vote generally in the election of directors.

     

    XI.          Attorneys’ Fees.  In the event that any action is instituted by Indemnitee under this Agreement to enforce or interpret any of the terms hereof, Indemnitee shall be entitled to be paid all court costs and
        expenses, including reasonable attorneys’ fees, incurred by Indemnitee with respect to such action, unless as a part of such action, the court of competent jurisdiction determines that each of the material assertions made by Indemnitee as a basis
        for such action were fraudulent or that such indemnification was unlawful.  In the event of an action instituted by or in the name of the Company under this Agreement or to enforce or interpret any of the terms of this Agreement, Indemnitee shall
        be entitled to be paid all court costs and expenses, including attorneys’ fees, incurred by Indemnitee in defense of such action (including with respect to Indemnitee’s counterclaims and cross-claims made in such action), unless as a part of such
        action the court determines that each of Indemnitee’s material defenses to such action were made in bad faith or were frivolous.

     

    XII.        

        Miscellaneous.

     

    A.          Governing Law.  This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of
        the State of Delaware, without giving effect to principles of conflict of law.

     

    B.          Entire Agreement; Enforcement of Rights.  This Agreement sets forth the entire agreement and understanding of the parties relating to the subject matter herein and merges all prior discussions between
        them.  No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the parties to this Agreement.  The failure by either party to enforce any rights under this
        Agreement shall not be construed as a waiver of any rights of such party.

     

    C.          Construction.  This Agreement is the result of negotiations between and has been reviewed by each of the parties hereto and their respective counsel, if any; accordingly, this Agreement shall be deemed to
        be the product of all of the parties hereto, and no ambiguity shall be construed in favor of or against any one of the parties hereto.

    
      
        

    

     

    D.          Notices.  Any notice, demand or request required or permitted to be given under this Agreement shall be in writing and shall be deemed sufficient when delivered personally or sent by telegram or fax, or
        forty-eight (48) hours after being deposited in the U.S. mail, as certified or registered mail, with postage prepaid, and addressed to the party to be notified at such party’s address as set forth below or as subsequently modified by written
        notice.

     

    E.          Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.

     

    F.          Successors and Assigns.  This Agreement shall be binding upon the Company and its successors and assigns, and inure to the benefit of Indemnitee and Indemnitee’s heirs, legal representatives and assigns.

     

    G.          Subrogation.  Except as otherwise set forth in Section 12 above, in the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery
        of Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Company to effectively bring suit to enforce such rights.

     

     (Signature page follows)

    
      
        

    

     

      

     

      

    The parties hereto have executed this Indemnification Agreement as of the day and year set forth on the first page of this
      Indemnification Agreement.

    
       

      
        	
                 

              	
                
                  COMPANY:

                   

                  SolarEdge Technologies, Inc., 

                  a Delaware corporation

                  

                  

                  By:
                      _______________________

                    

                

              

      

                    

      AGREED TO AND ACCEPTED:     

            

          

      ___________________________

          

       ____________

          

      Address:

          

        

    

    
      [Signature Page to SolarEdge’s Indemnification Agreement]Document

EXHIBIT 10.1
Travere Therapeutics, Inc.
3611 Valley Centre Drive, Suite 300
San Diego, CA 92130

April 19, 2022
Laura Clague

Re:    Retirement and Transition Agreement
Dear Laura:
This letter agreement (the “Agreement”) sets forth our mutual understanding regarding your planned retirement as Chief Financial Officer of Travere Therapeutics, Inc., a Delaware corporation (the “Company”).
1.RETIREMENT.  You hereby inform the Company of your intent to voluntarily resign as the Company’s Chief Financial Officer, and from all other officer roles held by you at the Company or at any subsidiary of the Company, effective as of August 31, 2022, or such earlier date as is mutually agreed upon by you and the Company (the actual date of such resignation, the “Officer Resignation Date”).   
2.TRANSITION. During the period between the Officer Resignation Date and the  Employment Termination Date (as defined below) (the “Transition Period”), you shall continue to serve as an employee of the Company but will no longer have the powers, duties and responsibilities commensurate with the position of Chief Financial Officer. During the Transition Period, you will assist the Company in transitioning your former duties and responsibilities as Chief Financial Officer of the Company to your successor and/or other Company employees, and you will provide such other services and transition assistance as may be reasonably requested by the Company.
3.COMPENSATION. Prior to the Transition Period, you will continue to receive your current base salary of $471,000, and during the Transition Period, you will receive a reduced base salary of $330,000, in each case payable semi-monthly in equal installments in accordance with the Company’s normal payroll practices. You will remain eligible to receive your annual cash incentive bonus payment for 2022, with a target bonus percentage of 50%, as determined by the Company’s Board of Directors and/or its Compensation Committee based on the Company’s achievement of its performance goals for 2022. You will also remain eligible to participate in the Company’s cash incentive bonus program for 2023 (on a pro-rated basis based on the portion of the year you are employed by the Company), as determined by the Company’s Board of Directors and/or its Compensation Committee, with a reduced target bonus percentage of 40%. You will not be entitled to any further stock awards or equity grants from the Company but any stock awards and equity grants previously granted to you in accordance with their terms will continue to vest and become exercisable during the Transition Period. Prior to and during the Transition Period, you shall continue to be eligible for vacation and other benefits and expense reimbursement under Article 4 of the Employment Agreement (as defined below).

1

4.TERMINATION OF EMPLOYMENT. Effective as of March 31, 2023, or such earlier date following the Officer Resignation Date that you and the Company mutually designate in writing (the “Employment Termination Date”), your employment with the Company shall terminate. Upon the Employment Termination Date, the Company shall pay you all Accrued Compensation (as defined in the Employment Agreement), but subject to the following proviso and the proviso in Section 6 below, no other compensation or reimbursement of any kind, including without limitation, any severance compensation or benefits, will be paid, and thereafter the Company’s obligations under the Employment Agreement will terminate; provided, however, that the equity awards granted to you under, or subject to, the Company’s 2014, 2015 or 2018 Equity Incentive Plan and then held by you, other than the performance-based restricted stock units granted to you on January 31, 2020 and January 31, 2022 (the “Covered Awards”) shall be deemed to have been amended such that they shall continue to vest and become exercisable following the Employment Termination Date as if you had remained in Continuous Service (as defined in the applicable Equity Incentive Plan) to the Company, and any such equity award that is a stock option shall remain outstanding and exercisable until three months following the last vesting date with respect to any of the Covered Awards (i.e., the date on which the final tranche of vesting occurs with respect to the Covered Awards, taken as a whole), but no later than the end of the original full term of such stock option. For the sake of avoidance of doubt, in the event of a Change of Control (as defined in your Employment Agreement referred to below), any outstanding Covered Awards will be treated in accordance with the terms of the relevant Equity Incentive Plan, subject to Section 6 below to the extent applicable. The Covered Awards held by you as of the date hereof are listed on Exhibit A hereto, and such Exhibit shall be revised and updated as of the Employment Termination Date. 
5.RELEASE.  As a condition to the benefits provided in this Agreement to which you would not otherwise be entitled, you agree, on the Employment Termination Date, to execute and return to the Company the General Release attached as Exhibit A to the Employment Agreement (the “Release”), and to allow the Release to become effective.
6.EFFECT ON EMPLOYMENT AGREEMENT.  Except as expressly modified by this Agreement, your Employment Agreement dated March 3, 2015, as amended April 11, 2017 (the “Employment Agreement”) shall remain in full force and effect in accordance with its terms until the Employment Termination Date. You agree that neither your voluntary resignation pursuant to Section 1 of this Agreement, nor the termination of your employment pursuant to Section 4 of this Agreement, will give rise to any severance benefits under the Employment Agreement; provided, however, that in the event such termination of employment occurs within six (6) months prior to, or on or within twelve (12) months after, the consummation of a Change of Control, then you will be entitled to the severance benefits set forth in Section 6.8(a) of the Employment Agreement, subject to your execution of the Release and allowing it to become effective.  For clarity, if any such applicable Change of Control is consummated following the Officer Resignation Date, then the “Base Salary” and “Target Annual Bonus” used to calculate the relevant severance benefits under Section 6.8(a) of the Employment Agreement, shall be the reduced base salary and target bonus percentage set forth in Section 3 above.   
7.GENERAL.  This Agreement, including its exhibits, and the Employment Agreement constitute the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to this subject matter.  This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California.  Any ambiguity in this Agreement shall not be construed against either party as the drafter.  Any waiver of a breach of this Agreement, or rights hereunder, shall be in writing and shall not be deemed to be a waiver of any successive breach or rights hereunder.  This Agreement may be executed in counterparts which shall be deemed to be part of one original, and facsimile signatures and signatures transmitted by PDF shall be equivalent to original signatures.  The terms of any payments or benefits to be provided pursuant to this Agreement will be construed to the greatest extent possible so as to be exempt from or compliant with the provisions of Section 409A of the Internal Revenue Code and the regulations promulgated thereunder.

 
 
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If this Agreement is acceptable to you, please sign below and return a copy to me.

Sincerely,
TRAVERE THERAPEUTICS, INC.

By:  /s/ Eric Dube                                                                 

Name: Eric Dube, Ph.D.

Title: Chief Executive Officer

ACCEPTED AND AGREED:

 /s/ Laura Clague                                                                 
Laura Clague

 April 19, 2022                                                                     
Date

 
 
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EXHIBIT A

LIST OF COVERED AWARDS

																																																						
	Grant Date (1)		Type		Strike		Granted		Exercised or RSU Vested at 4/19/22		Options Vested at 4/19/22		Vested, Outstanding at 4/19/22		To Vest by 3/31/23 (2)		Unvested at 3/31/23 (2)	
	1/31/2022		Option		$	27.50 			39,360 			— 			— 			— 			11,480 			27,880 		
	1/31/2022		RSU		$	— 			9,840 			— 			— 			— 			2,460 			7,380 		
	1/21/2021		Option		$	26.88 			57,500 			— 			16,770 			16,770 			14,375 			26,355 		
	1/21/2021		RSU		$	— 			15,000 			3,750 			— 			— 			3,750 			7,500 		
	1/31/2020		Option		$	15.46 			55,000 			— 			29,791 			29,791 			13,750 			11,459 		
	1/31/2020		RSU		$	— 			9,000 			4,500 			— 			— 			2,250 			2,250 		
	5/9/2019		Option		$	17.96 			40,000 			— 			29,166 			29,166 			9,167 			1,667 		
	5/9/2019		RSU		$	— 			6,000 			3,000 			— 			— 			1,500 			1,500 		
	5/10/2018		Option		$	25.25 			48,000 			— 			47,000 			47,000 			1,000 			— 		
	5/10/2018		RSU		$	— 			10,000 			7,500 			— 			— 			2,500 			— 		
	5/17/2017		Option		$	17.44 			60,000 			— 			60,000 			60,000 			— 			— 		
	5/19/2016		Option		$	16.23 			60,000 			— 			60,000 			60,000 			— 			— 		
	7/1/2015		Option		$	32.49 			60,000 			— 			60,000 			60,000 			— 			— 		
	11/17/2014		Option		$	9.45 			100,000 			— 			100,000 			100,000 			— 			— 		
									18,750 			402,727 			402,727 			62,232 			85,991 		

			
	 

						
	(1)	Does not include PRSUs granted on January 31, 2020 or January 31, 2022, which are not Covered Awards, but which remain outstanding until the Employment Termination Date.
	(2)	Assumes the Employment Termination Date occurs on March 31, 2023.

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