Document:

EX-10.1

 Exhibit 10.1 

DAVE INC. 
 NON-EMPLOYEE DIRECTOR COMPENSATION POLICY 
 ADOPTED: January 31, 2022 

Each member of the Board of Directors (the “Board”) of Dave Inc. (the “Company”) who is not an employee of the
Company (each such member, an “Outside Director”) will receive the compensation described in this Non-Employee Director Compensation Policy (the “Director Compensation
Policy”) for his or her Board service following the date this Director Compensation Policy is adopted effective as of January 5, 2022 (the “Effective Date”). 

The Director Compensation Policy may be amended at any time in the sole discretion of the Board. 

Annual Cash Compensation 
 Each Outside Director will
receive the cash compensation set forth below for service on the Board. The annual cash compensation amounts will be payable in arrears, in equal quarterly installments following the end of each fiscal quarter of the Company in which the
service occurred. Any amount payable for a partial quarter of service will be pro-rated by multiplying such amount by a fraction, the numerator of which will be the number of days of service that the Outside
Director provided in such quarter and the denominator of which will be the number of days in such quarter inclusive. All annual cash fees are vested upon payment. 
  

	1.	 Annual Board Member Service Retainer: 

 

	 	a.	 All Outside Directors: $35,000. 

 

	 	b.	 Outside Director serving as Chairperson: $35,000 (in addition to above). 

 

	 	c.	 Outside Director serving as Lead Independent Director: $20,000 (in addition to above).

  

	2.	 Annual Committee Member Service Retainer: 

 

	 	a.	 Member of the Audit Committee: $10,000. 

 

	 	b.	 Member of the Compensation Committee: $7,000. 

 

	 	c.	 Member of the Nominating and Corporate Governance Committee: $4,000. 

 

	3.	 Annual Committee Chair Service Retainer (in lieu of Annual Committee Member Service Retainer):

  

	 	a.	 Chairperson of the Audit Committee: $20,000. 

 

	 	b.	 Chairperson of the Compensation Committee: $14,000. 

 

	 	c.	 Chairperson of the Nominating and Corporate Governance Committee: $8,000. 

Equity Compensation 
 Equity awards will be granted under
the Company’s 2021 Equity Incentive Plan or any successor equity incentive plan adopted by the Board and the stockholders of the Company (the “Plan”).

(a) Automatic Equity Grants. 

(i) Annual Grant for Outside Directors. Without any further action of the Board, at the close of business on the date of each
annual meeting of the Company’s stockholders (an “Annual Meeting”) following the Effective Date, each Outside Director who has served as a member of the Board since December 31st of the calendar year prior to such Annual Meeting shall be granted restricted stock units under the Plan covering shares of Class A Common Stock of the Company (each, a
“Share”) having an RSU Value of $165,000 (a “Annual RSU Award”); provided that the number of Shares covered by each Annual RSU Award will be rounded down to the nearest whole Share.
Each Annual RSU Award shall vest in full on the earlier to occur of (i) the next Annual Meeting or (ii) the one-year anniversary of the date of grant, subject to the applicable Outside
Director’s continued service as a member of the Board through such date. 

  
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 (iii) Initial Grant for New Outside Directors. Without any further action of
the Board, each person who, after the Effective Date, is elected or appointed for the first time to be an Outside Director will automatically, upon the date of his or her initial election or appointment to be an Outside Director, be granted
restricted stock units under the Plan covering Shares having an RSU Value of $330,000 (a “New Director Initial RSU Award”); provided that the number of Shares covered by each New Director Initial RSU Award will
be rounded down to the nearest whole Share; provided further, that no grants shall be made prior to the filing of a Form S-8 to register the Shares to be issued under the Plan. Each New Director Initial RSU
Award shall vest in in three (3) equal annual installments on each of the first three (3) anniversaries of the Outside Director’s election or appointment to be a member of the Board, subject to the Outside Director’s continued
service as a member of the Board through each such vesting date. 
 (b) Vesting; Change in Control. All vesting is subject
to the Outside Director’s continued service as a member of the Board through each applicable vesting date. Notwithstanding the foregoing, for each Outside Director who remains in continuous service as a member of the Board until
immediately prior to the closing of a “Change in Control” (as defined in the Plan), any unvested portion of any restricted stock unit award granted in consideration of such Outside Director’s service as a member of the
Board shall vest in full immediately prior to, and contingent upon, the consummation of the Change in Control. 
 (c) Calculation
of RSU Value. The “RSU Value” of a restricted stock unit award to be granted under this policy will equal the number of Shares subject to the restricted stock unit award multiplied by the average closing price of a
Share on the stock exchange or a national market system on which the Shares are listed over the 30 trading days preceding the grant date. 

(d) Discretionary Grants. In addition to the automatic grants described herein, the Board, in its sole discretion, may grant
additional equity awards to certain Outside Directors for services to the Company that exceed the standard expectations of an Outside Director or for other circumstances determined appropriate by the Board, including, without limitation, an
inducement for the Outside Director to remain on the Board. 
 Remaining Terms. The remaining terms and conditions of each
restricted stock unit award granted under this policy will be as set forth in the Plan and the Company’s standard form of restricted stock unit award agreement, as amended from time to time by the Board or the Compensation Committee of the
Board, as applicable. 
 Expenses 
 The Company will
reimburse each Outside Director for ordinary, necessary and reasonable out-of-pocket travel expenses to cover in-person
attendance at, and participation in, Board and committee meetings; provided, that the Outside Director timely submits to the Company appropriate documentation substantiating such expenses in accordance with the Company’s travel and
expense policy, as in effect from time to time. 

  
 2EX-10.2

 Exhibit 10.2 

Execution Version 
 DAVE, INC.

 1265 South Cochran Avenue 

Los Angeles, CA 90019 

January 31, 2022 
 Kyle Beilman 

Via E-mail - kyle@dave.com 
  

	 	Re:	 EMPLOYMENT AGREEMENT 

Dear Kyle: 
 This Amended and Restated Employment
Agreement (the “Agreement”) between you (referred to hereinafter as the “Executive”) and Dave, Inc., a Delaware corporation (the “Company”) sets forth the terms and conditions
that shall govern Executive’s continued employment with the Company (referred to hereinafter as “Employment” or the “Employment Period”), effective as of January 4, 2022 (the
“Effective Date”). 
 1. Duties and Scope of Employment. 

(a) At-Will Employment. Executive’s Employment with the Company is for no specified
period and constitutes “at will” employment. As a result, Executive is free to terminate Employment at any time, with or without advance notice, and for any reason or for no reason. Similarly, the Company is free to terminate
Executive’s Employment at any time, with or without advance notice, and with or without Cause (as defined below). Furthermore, although terms and conditions of Executive’s Employment with the Company may change over time, nothing shall
change the at-will nature of Executive’s Employment. 
 (b) Position and
Responsibilities. During the Employment Period, the Company agrees to employ Executive in the position of Chief Financial Officer. Executive will report to the Company’s Chief Executive Officer (your
“Supervisor”), and Executive will be working out of the Company’s office in Los Angeles, California. Executive will perform the duties and have the responsibilities and authority customarily performed and held by an
employee in Executive’s position or as otherwise may be assigned or delegated to Executive by your Supervisor or the Company’s Board of Directors (the “Board”). 

(c) Obligations to the Company. During the Employment Period, Executive shall perform Executive’s duties faithfully
and to the best of Executive’s ability and will devote Executive’s full business efforts and time to the Company. During the Employment Period, without the prior written approval of the Board, Executive shall not render services in any
capacity to any other Person and shall not act as a sole proprietor, advisor or partner of any other Person or own more than five percent (5%) of the stock of any other corporation. Notwithstanding the foregoing, Executive may serve on corporate,
civic or charitable boards or committees, deliver lectures, fulfill speaking engagements, teach at educational institutions, or manage personal investments without advance written consent of the Board; provided that such activities do not
individually or in the aggregate interfere with the performance of Executive’s duties under this Agreement or create a potential business or fiduciary conflict. Executive shall comply with the Company’s policies and rules, as they may be
in effect from time to time during Executive’s Employment. 

 (d) No Conflicting Obligations. Executive represents and warrants to
the Company that Executive is under no obligations or commitments, whether contractual or otherwise, that are inconsistent with Executive’s obligations under this Agreement or that would otherwise prohibit Executive from performing
Executive’s duties with the Company. In connection with Executive’s Employment, Executive shall not use or disclose any trade secrets or other proprietary information or intellectual property in which Executive or any other Person has any
right, title or interest and Executive’s Employment will not infringe or violate the rights of any other Person. Executive represents and warrants to the Company that Executive has returned all property and confidential information belonging to
any prior employer. 
 2. Cash and Incentive Compensation. 

(a) Base Salary. The Company shall pay Executive, as compensation for Executive’s services, a base salary at a gross
annual rate of $425,000.00, less all required tax withholdings and other applicable deductions, in accordance with the Company’s standard payroll procedures. The annual compensation specified in this subsection (a), together with any
modifications in such compensation that the Company may make from time to time, is referred to in this Agreement as the “Base Salary.” Executive’s Base Salary will be subject to review and adjustments that will be made
based upon the Company’s normal performance review practices. Effective as of the date of any change to Executive’s Base Salary, the Base Salary as so changed shall be considered the new Base Salary for all purposes of this Agreement. 

(b) Cash Incentive Bonus. Executive will be eligible to be considered for an annual cash incentive bonus (the
“Cash Bonus”) each calendar year during the Employment Period based upon the achievement of certain objective or subjective criteria (collectively, the “Performance Goals”). In compliance with all
relevant legal requirements and based on Executive’s level within the Company, the Performance Goals for Executive’s Cash Bonus for a particular year will be established by, and in the sole discretion of, the Board, any Compensation
Committee of the Board (the “Committee”), or a delegate of either the Board or the Committee (the “Delegate”), as applicable. The initial target amount for any such Cash Bonus will be up to 75% of
Executive’s Base Salary (the “Target Bonus Percentage”), less all required tax withholdings and other applicable deductions. The determinations of the Board, the Committee or the Delegate, as applicable, with respect to
such Cash Bonus or the Target Bonus Percentage shall be final and binding. Executive’s Target Bonus Percentage for any subsequent year may be adjusted up or down, as determined in the sole discretion of the Board, the Committee or the Delegate,
as applicable. Executive shall not earn a Cash Bonus unless Executive is employed by the Company on the date when such Cash Bonus is actually paid by the Company. 

(c) Restricted Stock Units. Subject to the approval of the Board, the Committee or a Delegate, as applicable, the Company
shall grant Executive an award of restricted stock units with a grant date fair market value equal to $12,000,000 (the “Equity Value”). Such Equity Award will, in the sole discretion of the Board or the Committee, be an award
of a number of Restricted Stock Units (“RSUs” and such award, the “RSU Award”) determined based on the 

  
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30 day trailing average stock price of a Share in the 30 day period prior to the date of grant. The RSU Award shall be granted as soon as reasonably practicable after the Effective Date (the
“Grant Date”) and shall be settled in shares of Company common stock. Subject to any vesting acceleration rights Executive may have, the RSU Award shall vest as to 3/16th
of the shares subject to the RSU Award on March 1, 2022, and 1/16th of the shares will vest on each 3-month anniversary thereafter such that the RSU Award will be fully vested on June 1, 2025,
subject to Executive continuing to provide services to the Company through each vesting date. The RSU Award will be subject to the terms, definitions (except as otherwise provided herein) and provisions of the Company’s 2021 Equity Incentive
Plan (the “Stock Plan”) and the restricted stock unit agreement to be entered into by and between Executive and the Company (the “RSU Agreement”), both of which documents are incorporated herein by
reference. Executive will be eligible for future awards under the Stock Plan, as determined in the sole discretion of the Board, the Committee or the Delegate, as applicable. 

3. Employee Benefits. During the Employment Period, Executive shall be eligible to (a) receive paid time off
(“PTO”) in accordance with the Company’s PTO policy, as it may be amended from time to time and (b) participate in the employee benefit plans maintained by the Company and generally available to similarly situated
employees of the Company, subject in each case to the generally applicable terms and conditions of the plan or policy in question and to the determinations of any Person or committee administering such employee benefit plan or policy. The Company
reserves the right to cancel or change the employee benefit plans, policies and programs it offers to its employees at any time. 
 4.
Business Expenses. The Company will reimburse Executive for necessary and reasonable business expenses incurred in connection with Executive’s duties hereunder upon presentation of an itemized account and appropriate
supporting documentation, all in accordance with the Company’s generally applicable expense reimbursement policies as in effect from to time. In addition, the Company will reimburse Executive for up to a maximum of $20,000 of documented and
substantiated legal fees incurred by Executive in connection with the negotiation of this Agreement, with such payment made in a single lump sum as soon as practical after the Effective Date and the provision of supporting documentation. 

5. Rights Upon Termination. Except as expressly provided in Section 6, upon the termination of
Executive’s Employment, for the period preceding the effective date of the termination of Employment, Executive shall only be entitled to the following: (i) the accrued but unpaid Base Salary compensation and PTO, (ii) the
reimbursements described in Section 4 of this Agreement, and (iii) such other vested benefits earned under any Company-provided plans, policies, and arrangements in accordance with the governing documents and policies of any such, plans,
policies and arrangements (collectively, the “Accrued Benefits”). The Accrued Benefits described in clauses (i) and (ii) of the preceding sentence shall be paid on the date of termination of Executive’s Employment
and the Accrued Benefits described in clause (iii) of the preceding sentence shall be paid in accordance with the terms of the governing plan, policy or arrangement. 

  
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 6. Termination Benefits. 

(a) Termination without Cause outside of Change in Control Protection Period. If the Company (or any parent, subsidiary or
successor of the Company) terminates Executive’s employment with the Company for a reason other than (i) Cause, (ii) Executive becoming Disabled or (iii) Executive’s death, in each case, outside of the Change in Control
Protection Period, then, subject to Section 7 (other than with respect to the Accrued Benefits), Executive will be entitled to the following: 

(i) Accrued Compensation. The Company will pay Executive all Accrued Benefits. 

(ii) Severance Payment. Executive will receive semi-monthly continuing payments of severance pay at a rate equal to Executive’s
Base Salary, as then in effect, for twelve (12) months following the termination date (the “Severance Period”), less all required tax withholdings and other applicable deductions, which will be paid in accordance with
the Company’s regular payroll procedures. No payments will be made prior to the Release Deadline (as defined in Section 7(a)) and on the first regular payroll pay date following the Release Deadline, the Company will pay all amounts that
would have been paid to Executive if payment had commenced on the date of Executive’s separation from service. 
 (iii) Continued
Employee Benefits. If Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, within the
time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination or resignation) until the earlier of
(A) the end of the Severance Period, or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. COBRA reimbursements will be made by the Company to Executive consistent with the
Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010.

 (iv) Equity. All of Executive’s unvested and outstanding equity awards to the extent granted prior to the Effective Date
shall immediately vest and become exercisable as of the date of Executive’s termination. 
 (b) Termination without Cause or
Resignation for Good Reason in Connection with a Change in Control. If during the Change in Control Protection Period, (x) the Company terminates Executive’s employment with the Company without Cause, or (y) Executive resigns
from such employment for Good Reason, then, subject to Section 7 (other than with respect to the Accrued Benefits), Executive will receive the following severance benefits from the Company in lieu of the benefits described in Section 6(a)
above: 
 (i) Accrued Compensation. The Company will pay Executive all Accrued Benefits. 

(ii) Severance Payment. Executive will receive a lump sum severance payment equal to the sum of (A) twelve (12) months (the
“CIC Severance Period”) of Executive’s Base Salary and (B) the product of (x) the Target Bonus Percentage and (y) Executive’s Base Salary, in each case, as in effect immediately prior to the date of
Executive’s termination of employment, less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures, but no later than the first regular payroll date
following the Release Deadline. 

  
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 (iii) Continued Employee Benefits. If Executive elects continuation coverage
pursuant to COBRA for Executive and Executive’s eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect
immediately prior to Executive’s termination or resignation) until the earlier of (A) the end of the CIC Severance Period, or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar
plans. COBRA reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy and will be taxable to the extent required to avoid adverse consequences to Executive or the Company under
either Code Section 105(h) or the Patient Protection and Affordable Care Act of 2010. 
 (iv) Equity. All of Executive’s
unvested and outstanding equity awards shall immediately vest and become exercisable as of the date of Executive’s termination. 
 (c)
Disability; Death; Voluntary Resignation; Termination for Cause. If Executive’s employment with the Company is terminated due to (i) Executive becoming Disabled or Executive’s death, (ii) Executive’s voluntary
resignation (other than for Good Reason during the Change in Control Protection Period), or (iii) the Company’s termination of Executive’s employment with the Company for Cause, then Executive or Executive’s estate (as the case
may be) will receive the Accrued Benefits, but will not be entitled to any other compensation or benefits from the Company except to the extent required by law (for example, COBRA). 

(d) Timing of Payments. Subject to any specific timing provisions in Section 6(a), 6(b), or 6(c), as applicable, or the
provisions of Section 7, payment of the severance and benefits hereunder shall be made or commence to be made as soon as practicable following Executive’s termination of employment. 

(e) Exclusive Remedy. In the event of a termination of Executive’s employment with the Company (or any parent, subsidiary or
successor of the Company), the provisions of this Section 6 are intended to be and are exclusive and in lieu of any other rights or remedies to which Executive or the Company may otherwise be entitled, whether at law, tort or contract, in
equity, or under this Agreement (other than the payment of accrued but unpaid wages, as required by law, and any unreimbursed reimbursable expenses). Executive will be entitled to no other severance, benefits, compensation or other payments or
rights upon a termination of employment, other than those benefits expressly set forth in Section 6 of this Agreement or pursuant to written equity award agreements with the Company. 

(f) No Duty to Mitigate. Executive will not be required to mitigate the amount of any payment contemplated by this Agreement, nor
will any earnings that Executive may receive from any other source reduce any such payment. 

  
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 7. Conditions to Receipt of Severance. 

(a) Release of Claims Agreement. The receipt of any severance payments or benefits pursuant to this Agreement is subject to
Executive signing and not revoking a separation agreement and release of claims in a form attached hereto as Exhibit A (the “Release”), which must become effective no later than the sixtieth (60th) day following
Executive’s termination of employment (the “Release Deadline”), and if not, Executive will forfeit any right to severance payments or benefits under this Agreement. To become effective, the Release must be executed by
Executive and any revocation periods (as required by statute, regulation, or otherwise) must have expired without Executive having revoked the Release. In addition, in no event will severance payments or benefits be paid or provided until the
Release actually becomes effective. If the termination of employment occurs at a time during the calendar year where the Release Deadline could occur in the calendar year following the calendar year in which Executive’s termination of
employment occurs, then any severance payments or benefits under this Agreement that would be considered Deferred Payments (as defined in Section 7(c)(i)) will be paid on the first payroll date to occur during the calendar year following the
calendar year in which such termination occurs, or such later time as required by (i) the payment schedule applicable to each payment or benefit as set forth in Section 6, (ii) the date the Release becomes effective, or (iii) Section
7(c)(ii); provided that the first payment shall include all amounts that would have been paid to Executive if payment had commenced on the date of Executive’s termination of employment. 

(b) Confidentiality Agreement. Executive’s receipt of any payments or benefits under Section 6 will be subject to
Executive continuing to comply with the terms of the Confidentiality Agreement (as defined in Section 11 below). 
 (c)
Section 409A. 
 (i) Notwithstanding anything to the contrary in this Agreement, no severance
pay or benefits to be paid or provided to Executive, if any, pursuant to this Agreement that, when considered together with any other severance payments or separation benefits, are considered deferred compensation not exempt under Section 409A
(together, the “Deferred Payments”) will be paid or otherwise provided until Executive has a “separation from service” within the meaning of Section 409A. And for purposes of this Agreement, any reference to
“termination of employment,” “termination” or any similar term shall be construed to mean a “separation from service” within the meaning of Section 409A. Similarly, no severance payable to Executive, if any,
pursuant to this Agreement that otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until Executive has a “separation from
service” within the meaning of Section 409A. 
 (ii) Notwithstanding anything to the contrary in this Agreement, if Executive is a
“specified employee” within the meaning of Section 409A at the time of Executive’s termination of employment (other than due to death), then the Deferred Payments, if any, that are payable within the first six
(6) months following Executive’s separation from service, will become payable on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of Executive’s separation from
service. All subsequent Deferred Payments, if any, will be payable in accordance with the payment schedule applicable to each payment or 

  
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benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s separation from service, but prior to the six (6) month anniversary of the separation
from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of Executive’s death and all other Deferred Payments will be payable in accordance
with the payment schedule applicable to each payment or benefit. Each payment, installment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of
Section 1.409A-2(b)(2) of the Treasury Regulations. 
 (iii) Without limitation, any amount
paid under this Agreement that satisfies the requirements of the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations is not intended to constitute Deferred
Payments for purposes of clause (i) above. 
 (iv) Without limitation, any amount paid under this Agreement that qualifies as a payment
made as a result of an involuntary separation from service pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit is not intended to
constitute Deferred Payments for purposes of clause (i) above. Any payment intended to qualify under this exemption must be made within the allowable time period specified in
Section 1.409A-1(b)(9)(iii) of the Treasury Regulations. 
 (v) To the extent that
reimbursements or in-kind benefits under this Agreement constitute non-exempt “nonqualified deferred compensation” for purposes of Section 409A,
(1) all reimbursements hereunder shall be made on or prior to the last day of the calendar year following the calendar year in which the expense was incurred by Executive, (2) any right to reimbursement or
in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (3) the amount of expenses eligible for reimbursement or in-kind benefits
provided in any calendar year shall not in any way affect the expenses eligible for reimbursement or in-kind benefits to be provided, in any other calendar year. 

(vi) The payments and benefits provided under Sections 6(a) and 6(b) are intended to be exempt from or comply with the requirements of
Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be exempt or
so comply. The Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions that are necessary, appropriate or desirable to avoid imposition of any additional tax or income
recognition prior to actual payment to Executive under Section 409A. 
 8. Definition of Terms. The following terms
referred to in this Agreement will have the following meanings: 
 (a) Cause. “Cause” means: 

(i) Executive’s gross negligence or willful misconduct in the performance of his or her duties and responsibilities to the Company or
Executive’s material violation of any written Company policy; 

  
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 (ii) Executive’s knowing and intentional commission of any act of, or the occurrence
of any of the following as a result of Executive’s gross negligence: fraud, theft, embezzlement, financial dishonesty, misappropriation from the Company or any other willful misconduct that has caused or is reasonably expected to result in
material injury to the Company; 
 (iii) Executive’s conviction of, or pleading guilty or nolo contendre to, any felony or a lesser
crime involving dishonesty or moral turpitude; 
 (iv) Executive’s unlawful use (including being under the influence) or possession of
illegal drugs on the premises of the Company or while performing Executive’s duties and responsibilities for the Company; 
 (v)
Executive’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom Executive owes an obligation of nondisclosure as a result of his or her relationship with the Company; or 

(vi) Executive’s material breach of any of his or her obligations under any written agreement or covenant with the Company. 

(b) Change in Control. “Change in Control” shall have the meaning ascribed to such term in the Equity Plan. 

(c) Change in Control Protection Period. “Change in Control Protection Period” means the period beginning three
(3) months prior and ending twelve (12)-month period immediately following the consummation of a Change in Control. 
 (d)
Code. “Code” means the Internal Revenue Code of 1986, as amended. 
 (e) Disability.
“Disability” or “Disabled” means that Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has
lasted, or can be expected to last, for a continuous period of not less than one (1) year. 
 (f) Good Reason. “Good
Reason” means Executive’s resignation or termination of employment within thirty (30) days following the expiration of any cure period (discussed below) following the occurrence of one or more of the following without Executive’s
consent: 
 (i) A material reduction of Executive’s duties, authority or responsibilities, relative to Executive’s duties,
authority or responsibilities in effect immediately prior to such reduction; provided, however, that a reduction in duties, authority or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for
example, when the Chief Executive Officer of the Company remains as such following a Change in Control but is not made the Chief Executive Officer of the acquiring corporation) will not constitute Good Reason; 

  
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 (ii) A material reduction in Executive’s Base Salary (except where there is a
reduction applicable to all similarly situated executive officers generally); provided, that a reduction of less than ten percent (10%) will not be considered a material reduction in Base Salary; 

(iii) A material change in the geographic location of Executive’s primary work facility or location; provided, that a relocation of less
than fifty (50) miles from Executive’s then-present work location will not be considered a material change in geographic location; or 

(iv) A material breach by the Company of a material provision of this Agreement or Executive’s equity award agreements. 

Executive will not resign for Good Reason without first providing the Company with written notice of the acts or omissions constituting the
grounds for Good Reason within thirty (30) days of the initial existence of the grounds for Good Reason and a reasonable cure period of not less than thirty (30) days following the date the Company receives such notice during which such
condition must not have been cured. 
 (g) Governmental Authority. “Governmental Authority” means any federal, state,
municipal, foreign or other government, governmental department, commission, board, bureau, agency or instrumentality, or any private or public court or tribunal. 

(h) Person. “Person” shall be construed in the broadest sense and means and includes any natural person, a partnership,
a corporation, an association, a joint stock company, a limited liability company, a trust, a joint venture, an unincorporated organization and other entity or Governmental Authority. 

(i) Section 409A. “Section 409A” means Section 409A of the Code, and the
final regulations and any guidance promulgated thereunder or any state law equivalent. 
 (j)
Section 409A Limit. “Section 409A Limit” shall mean two (2) times the lesser of: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive
during Executive’s taxable year preceding Executive’s taxable year of his or her separation from service as determined under Treasury Regulation Section 1.409A-1(b)(9)(iii)(A)(1) and any
Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive’s separation
from service occurred. 
 9. Golden Parachute. 

(a) Anything in this Agreement to the contrary notwithstanding, if any payment or benefit Executive would receive from the Company or otherwise
(“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code; and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the
Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion
of the Payment being subject to the Excise Tax; or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and
the Excise Tax (all computed at the highest applicable 

  
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marginal rate), results in Executive’s receipt, on an after-tax basis, of the greater amount of the Payment. Any reduction made pursuant to this
Section 9(a) shall be made in accordance with the following order of priority: (i) stock options whose exercise price exceeds the fair market value of the optioned stock (“Underwater Options”), (ii) Full Credit
Payments (as defined below) that are payable in cash, (iii) non-cash Full Credit Payments that are taxable, (iv) non-cash Full Credit Payments that are not
taxable (v) Partial Credit Payments (as defined below) and (vi) non-cash employee welfare benefits. In each case, reductions shall be made in reverse chronological order such that the payment or
benefit owed on the latest date following the occurrence of the event triggering the excise tax will be the first payment or benefit to be reduced (with reductions made pro-rata in the event payments or
benefits are owed at the same time). “Full Credit Payment” means a payment, distribution or benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, that if
reduced in value by one dollar reduces the amount of the parachute payment (as defined in Section 280G of the Code) by one dollar, determined as if such payment, distribution or benefit had been paid or distributed on the date of the event
triggering the excise tax. “Partial Credit Payment” means any payment, distribution or benefit that is not a Full Credit Payment. 

(b) A nationally recognized certified public accounting firm selected by the Company (the “Accounting Firm”) shall
perform the foregoing calculations related to the Excise Tax. If a reduction is required pursuant to Section 9(a), the Accounting Firm shall administer the ordering of the reduction as set forth in Section 9(a). The Company shall bear all
expenses with respect to the determinations by such accounting firm required to be made hereunder. 
 (c) The Accounting Firm engaged to make
the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to Executive and the Company within fifteen (15) calendar days after the date on which Executive’s right to a Payment is
triggered. Any good faith determinations of the Accounting Firm made hereunder shall be final, binding, and conclusive upon Executive and the Company. 

10. Arbitration. To the fullest extent permitted by applicable law, Executive and the Company agree that any and all disputes,
demands, claims, or controversies (“claims”) relating to, arising from or regarding Executive’s employment, including claims by the Company, claims against the Company, and claims against any current or former parent,
affiliate, subsidiary, successor or predecessor of the Company, and each of the Company’s and these entities’ respective officers, directors, agents or employees, shall be resolved by final and binding arbitration before a single
arbitrator in Los Angeles County, California (or another mutually agreeable location). This does not prevent either Executive or the Company from seeking and obtaining temporary or preliminary injunctive relief in court to prevent irreparable harm
to Executive’s or its confidential information or trade secrets pending the conclusion of any arbitration. This arbitration agreement does not apply to any claims that have been expressly excluded from arbitration by a governing law not
preempted by the Federal Arbitration Act and does not restrict or preclude Executive from communicating with, filing an administrative charge or claim with, or providing testimony to any governmental entity about any actual or potential violation of
law or obtaining relief through a government agency process. The parties hereto agree that claims shall be resolved on an individual basis only, and not on a class, collective, or representative basis on behalf of other employees to the fullest
extent permitted by applicable law (“Class Waiver”). Any claim that all or part of the Class Waiver is invalid, unenforceable, or unconscionable may be determined only by a court. In

  
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no case may class, collective or representative claims proceed in arbitration on behalf of other employees. 

The parties agree that the arbitration shall be conducted by a single neutral arbitrator through JAMS in accordance with JAMS Employment
Arbitration Rules and Procedures (available at www.jamsadr.com/rules-employment-arbitration). Except as to the Class Waiver, the arbitrator shall determine arbitrability. The Company will bear all JAMS arbitration fees and administrative costs
in excess of the amount of administrative fees and costs that Executive otherwise would have been required to pay if the claims were litigated in court. The arbitrator shall apply the applicable substantive law in deciding the claims at issue.
Claims will be governed by their applicable statute of limitations and failure to demand arbitration within the prescribed time period shall bar the claims as provided by law. The decision or award of the arbitrator shall be final and binding upon
the parties. This arbitration agreement is enforceable under and governed by the Federal Arbitration Act. In the event that any portion of this arbitration agreement is held to be invalid or unenforceable, any such provision shall be severed, and
the remainder of this arbitration agreement will be given full force and effect. By signing the offer letter, Executive acknowledges and agrees that Executive has read this arbitration agreement carefully, are bound by it and are WAIVING ANY RIGHT
TO HAVE A TRIAL BEFORE A COURT OR JURY OF ANY AND ALL CLAIMS SUBJECT TO ARBITRATION UNDER THIS ARBITRATION AGREEMENT. 
 11.
Confidentiality Agreement. The Proprietary Information and Inventions Agreement entered into by and between Executive and the Company dated July 24, 2017 (the “Confidentiality Agreement”), remains in
full force and effect. 
 12. Successors. 

(a) Company’s Successors. This Agreement shall be binding upon any successor (whether direct or indirect and whether
by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets. For all purposes under this Agreement, the term “Company” shall include any
successor to the Company’s business or assets that become bound by this Agreement or any affiliate of any such successor that employs Executive. 

(b) Executive’s Successors. This Agreement and all of Executive’s rights hereunder shall inure to the benefit
of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

13. Indemnification; Directors and Officers Insurance. The Company shall at all times indemnify (and advance expenses to)
Executive to the fullest extent permitted by the laws of the State of Delaware from time to time in effect against and in respect of any claims, actions, suits, proceedings, demands, judgments, costs, expenses (including reasonable attorneys’
fees), losses and damages resulting from the Executive’s good faith performance of the Executive’s duties and obligations with the Company and shall provide related advancement of expenses to the greatest extent permitted under applicable
law and (b) ensure that the Company acquires and maintains directors and officers liability insurance covering the Executive (and to the extent the Company desires, other directors and officers of the Company and its affiliated companies) to
the 

  
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extent it is available at commercially reasonable rates as determined by the Company. The rights of indemnification and to receive advancement of expenses as provided in this Section 13
shall not be deemed exclusive of any other rights to which Executive may at any time be entitled under applicable law, the Certificate of Incorporation or Bylaws of the Company, any agreement, a vote of shareholders, a resolution of the Board or
otherwise. The provisions of this Section 13 shall continue in effect notwithstanding termination of the Executive’s employment hereunder for any reason. 

14. Miscellaneous Provisions. 

(a) Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part
of this Agreement. 
 (b) Notice. 

(i) General. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been
duly given when personally delivered, upon delivery via email, or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In Executive’s case, mailed notices shall be addressed to Executive at the home
address that Executive most recently communicated to the Company in writing and emailed notices shall be addressed to the email address on file with the Company’s Human Resource department. In the case of the Company, mailed notices shall be
addressed to its corporate headquarters, and all notices (including notice via email) shall be directed to the attention of its Secretary (in the case of email, at the Secretary’s Company email address).  

(ii) Notice of Termination. Any termination by the Company for Cause or by Executive for Good Reason will be communicated by a notice
of termination to the other party hereto given in accordance with Section 13(c)(i) of this Agreement. Such notice will indicate the specific termination provision in this Agreement relied upon, will set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination under the provision so indicated, and will specify the termination date (which will be not more than thirty (30) days after the giving of such notice), subject to any applicable cure
period. The failure by Executive or the Company to include in the notice any fact or circumstance which contributes to a showing of Good Reason or Cause, as applicable, will not waive any right of Executive or the Company, as applicable, hereunder
or preclude Executive or the Company, as applicable, from asserting such fact or circumstance in enforcing his or her or its rights hereunder, as applicable. 

(c) Modifications and Waivers. No provision of this Agreement shall be modified, waived or discharged unless the
modification, waiver or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive ). No waiver by either party of any breach of, or of compliance with, any condition or provision of
this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(d) Entire Agreement. This Agreement and the Confidentiality Agreement contain the entire understanding of the parties
with respect to the subject matter hereof and supersede all other prior or contemporaneous discussions, understandings and agreements, whether oral or written, between them relating to the subject matter hereof. 

  
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 (e) Withholding Taxes. All payments made under this Agreement shall be
subject to reduction to reflect taxes or other deductions required to be withheld by law. 
 (f) Choice of Law and
Severability. This Agreement shall be interpreted in accordance with the laws of the State of California without giving effect to provisions governing the choice of law. If any provision of this Agreement becomes or is deemed invalid,
illegal or unenforceable in any applicable jurisdiction by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the minimum extent necessary to conform to applicable law so as to be valid and
enforceable or, if such provision cannot be so amended without materially altering the intention of the parties, then such provision shall be stricken and the remainder of this Agreement shall continue in full force and effect. If any provision of
this Agreement is rendered illegal by any present or future statute, law, ordinance or regulation (collectively, the “Law”) then that provision shall be curtailed or limited only to the minimum extent necessary to bring the
provision into compliance with the Law. All the other terms and provisions of this Agreement shall continue in full force and effect without impairment or limitation. 

(g) No Assignment. This Agreement and all of Executive’s rights and obligations hereunder are personal to Executive
and may not be transferred or assigned by Executive at any time. The Company may assign its rights under this Agreement to any entity that assumes the Company’s obligations hereunder in connection with any sale or transfer to such entity of all
or a substantial portion of the Company’s assets. 
 (h) Acknowledgment. Executive acknowledges that Executive has had the
opportunity to discuss this matter with and obtain advice from Executive’s personal attorney, has had sufficient time to, and has carefully read and fully understood all the provisions of this Agreement, and is knowingly and voluntarily
entering into this Agreement. 
 (i) Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. Execution via DocuSign, facsimile copy or scanned image will have the same force and effect as execution of an original, and a DocuSign,
facsimile or scanned image signature will be deemed an original and valid signature. 
 (j) Electronic Delivery. The
Company may, in its sole discretion, decide to deliver any documents or notices related to this letter, securities of the Company or any of its affiliates or any other matter, including documents and/or notices required to be delivered to Executive
by applicable securities law or any other law or the Company’s Certificate of Incorporation or Bylaws by email or any other electronic means. Executive hereby consents to (i) conduct business electronically (ii) receive such documents
and notices by such electronic delivery and (iii) sign documents electronically and agree to participate through an on-line or electronic system established and maintained by the Company or a third party
designated by the Company. 
 [Signature Page Follows] 

  
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 After you have had an opportunity to review this Agreement, please feel free to contact me
if you have any questions or comments. To indicate your acceptance of this Agreement, please sign and date this letter in the space provided below and return it to the Company. 

 

			
	Very truly yours,
	
	DAVE, INC.
		
	By:	 	  

 
			
	(Signature)
		
	Name:	 	Jason Wilk
		
	Title:	 	Chief Executive Officer

  

	
	ACCEPTED AND AGREED:
	
	KYLE BEILMAN
	
	  

	(Signature)
	
	  

	Date

  
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