Document:

Letter Agreement - Elon Musk Revocable Trust and Blackstar Investco LLC

 Exhibit 10.36 
 May 11, 2009 
 Blackstar Investco LLC 
 c/o Daimler North America Corporation 
 One Mercedes Drive 
 Montvale, NJ 07645 
 Attention: Dr. Thomas Laubert 
 Re: Restrictions on Share Transfer; Certain Voting Restrictions 
 Ladies and Gentlemen: 
 Reference is hereby made to that certain Series E Preferred Stock Purchase
Agreement, dated of even date herewith (the “Purchase Agreement”), by and between Tesla Motors, Inc., a Delaware corporation (the “Company”), and Blackstar Investco LLC (“Newco”), which provides for
the issuance and sale by the Company to Newco of shares of Series E Preferred Stock. 
 This letter is to
confirm that, for full and valid consideration, the undersigned hereby consent and agree to the following: 
 (i) Agreement Not to Transfer. For period commencing on the date of this agreement and ending on December 31, 2011, the Elon Musk Revocable Trust dated July 22, 2003 (the “Musk Trust”) shall not
transfer, directly or indirectly, in one or in a series of transactions, any of shares of the Company’s capital stock held by it to any transferee that is a Daimler Competitor unless consented to by Newco in its sole discretion and in writing.

 (ii) Agreement Not to Vote Shares. For period commencing on the date of this agreement and ending on
December 31, 2011, the Musk Trust shall not, without the consent of Newco (in writing and in Newco’s sole discretion), vote any shares of the Company’s capital stock held by it in favor of a Deemed Liquidation (as defined in the
Purchase Agreement) to which a Daimler Competitor or a Person (as defined in the Purchase Agreement) other than an individual controlled by a Daimler Competitor, in one or in a series of transactions, is a party. 
 (iii) Daimler Competitors. For purposes of this Agreement, the term “Daimler Competitor” shall mean
any automobile original equipment manufacturers other than Daimler. 
 (iv) Co-Sale Rights. In the event
that the Musk Trust provides a Notice (as defined in the Right of First Refusal Agreement dated May 11, 2009 (the “ROFR Agreement”)) that it proposes to accept one or more bona fide offers from a Daimler Competitor to purchase
shares of the Company’s Preferred Stock or Common Stock, as applicable (the “Shares”) (and Newco has waived its rights pursuant to subsection (i) above), and to the extent the rights of first refusal under

 
the ROFR Agreement with respect to the Shares are not exercised, Newco shall have the right, exercisable upon written notice to the Musk Trust within thirty (30) business days after receipt
of the Notice, to participate in such sale of the Shares on the same terms and conditions as those set forth in the Notice. To the extent that Newco exercises such right of participation, the number of Shares to be sold by the Musk Trust shall be
correspondingly reduced, and the Musk Trust shall sell such reduced number of shares at the price and on the same terms and conditions as set forth in the applicable Notice. 
 (a) Newco will be entitled to sell its pro rata share of the Shares, which shall be equal to a fraction, (x) the numerator of which shall be the number of Conversion Shares (as
defined in the ROFR Agreement) held by Newco on the date of the Notice and (y) the denominator of which shall be the aggregate number of Conversion Shares held on the date of the Notice by the Musk Trust and Newco. 
 (b) Newco may effect its participation in the sale by delivering to the Musk Trust for transfer to the purchaser one or
more certificates, properly endorsed for transfer, which represent the number of shares of Common Stock or Preferred Stock, as may be applicable, that Newco elects to sell pursuant to this subsection (iv); provided, however, that if the purchaser is
purchasing Common Stock and objects to the delivery of Preferred Stock in lieu of Common Stock, Newco may convert the Preferred Stock and deliver the Common Stock issuable therefor. The Musk Trust shall promptly remit to Newco that portion of the
sale proceeds to which Newco is entitled by reason of its participation in such sale. 
 (c) If Newco does not
elect to exercise its co-sale rights pursuant to this subsection (iv) or does not give notice within the required time pursuant to under subsection (iv) (in each case provided that Newco has waived its rights pursuant to subsection
(i) above), the Musk Trust may sell or otherwise transfer the Shares on the same terms and conditions specified in the Notice, provided that such sale or transfer is consummated within forty-five business (45) days from the date of the
Notice. In the event the Shares are not disposed of by the Musk Trust within such forty-five business (45) day period, such Shares shall once again be subject to the co-sale rights herein provided. 
 (v) Assignment; legend. The Musk Trust may not assign, in whole or in party, any of its rights or obligations
pursuant to this letter agreement without the prior written consent of Newco and any purported assignment in violation of this letter agreement shall be void. Any such assignee and any future assignee shall agree in writing to be bound by the
provisions of this agreement, including all obligations of the Musk Trust hereunder, prior to such assignment becoming effective. The Musk Trust shall cause, promptly following the date of this letter agreement, all certificates of the
Company’s capital stock held by the Musk Trust to include legends consistent with the restrictions on transfer and voting contained in this letter agreement. 
 (vi) Attempt to Transfer. Any attempt by the Musk Trust to transfer or vote any shares in violation of this letter agreement shall be void, and the Company will not treat any
alleged transferee as the holder of such shares or any such voted shares as having been validly voted. 

 (vii) Termination. The provisions of this letter agreement shall
terminate and be of no further force or effect upon the earliest to occur of: (a) December 31, 2011, (b) provided that the provisions of this Agreement have not been breached by the Musk Trust, the consummation of (i) a merger or
consolidation of the Company with or into another corporation for cash consideration or stock that is publicly traded on a national securities exchange or a combination of cash consideration or such publicly traded stock in which the holders of
capital stock of the Company immediately prior to such merger or consolidation do not continue to hold at least 50% of the voting power of the capital stock of the Company or the surviving or acquiring corporation or (ii) a sale of all or
substantially all of the Company’s assets in which such assets are sold solely for cash consideration or stock that is publicly traded on a national securities exchange or a combination of cash consideration or such publicly traded stock,
(c) such time as Newco (together with Daimler AG (“Daimler”) or any Controlled Affiliate of Daimler (as defined in the Purchase Agreement)) no longer hold at least 9,950,000 shares of Common Stock of the Company (including any
shares of Common Stock of the Company issuable or issued upon the conversion of the Series E Preferred Stock of the Company and as equitably adjusted for any stock dividends, combinations, splits, recapitalizations, dilutive issuances, deemed
issuances and the like), (d) none of the Strategic Agreements (as defined in the Purchase Agreement) are in full force and effect or (e) such time as (A) the representation set forth in Section 3.10 of the Purchase Agreement is
no longer true and accurate in all material respects, (B) Daimler (or a Controlled Affiliate of Daimler) no longer holds 20% or more of the equity interests of Newco or (C) Newco is in breach in any material respect of Section 3.5 of
the Fourth Amended and Restated Investors’ Rights Agreement dated May 11, 2009 (it being agreed that Newco shall be deemed to not be in such breach if (1) Newco notifies the Company of such breach within 10 business days of such
breach and (2) Newco cures such breach within 20 business days after delivery of such notice). Notwithstanding the foregoing, the provisions set forth in subsection (iv) hereof shall terminate upon a Qualified IPO (as defined in the ROFR
Agreement). 
 This letter agreement and the Purchase Agreement and the Transaction Documents (as defined in the
Purchase Agreement) constitute the full and entire understanding and agreement between the Purchaser and the Company with regard to the subject matters hereof and thereof, and supersede any and all other oral or written understandings or agreements
with respect thereto. 
 It is agreed and understood that monetary damages would not adequately compensate an
injured party for the breach of this letter agreement by any other party, that this agreement shall be specifically enforceable, and that any breach or threatened breach of this agreement shall be the proper subject of a temporary or permanent
injunction or restraining order. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach or any requirement for posting of a bond. 
 This letter 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 conflicts of law. 

 Any notice required or permitted by this agreement shall be in writing and
shall be deemed sufficient upon delivery, when delivered personally or by overnight courier or sent by fax, or five business days (in the case of intra-United States notices) and ten business days (in the case of international notices) after being
deposited in the U.S. or other Government Authority (as defined in the Purchase Agreement) mail, as certified or registered mail, with postage prepaid, addressed to the party to be notified at such party’s address as set forth on the signature
page hereto, or as subsequently modified by written notice. 
 Except as expressly provided herein, each of the
parties shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance of this agreement. 
 Any term of this agreement may be amended or waived only with the written consent of the Musk Trust and Newco. 
 To the fullest extent that they may effectively do so under applicable Law (as defined in the Purchase Agreement), the parties hereby waive any provision of Law which renders any
provision of this agreement invalid, illegal or unenforceable in any respect. If one or more provisions of this agreement are held to be invalid, illegal or unenforceable under applicable Law, the parties agree to promptly renegotiate such provision
in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision within 30 business days, then (a) if such provision is rendered or held invalid, illegal or unenforceable in a
jurisdiction only as to a particular Person (as defined in the Purchase Agreement) or Persons or under any particular circumstance or circumstances, such provision shall be ineffective, but only in such jurisdiction and only with respect to such
particular Person or Persons or under such particular circumstance or circumstances, as the case may be, (b) without limitation of clause (a), such provision shall in any event be ineffective only as to such jurisdiction and only to the extent
of such invalidity, illegality or unenforceability, and such invalidity, illegality or unenforceability in such jurisdiction shall not render invalid, illegal or unenforceable such provision in any other jurisdiction and (c) without limitation
of clause (a) or (b), such ineffectiveness shall not render invalid, illegal or unenforceable this agreement or any of the remaining provisions hereof. 
 No delay or omission to exercise any right, power or remedy accruing to any party under this agreement, upon any breach or default of any other party under this agreement, shall
impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring;
nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or
default under this agreement, or any waiver on the part of any party of any provisions or conditions of this agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under
this agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

 Each party to this Agreement hereby irrevocably and unconditionally:

 (a) agrees that any suit, action or proceeding instituted against it by any other party with respect to this
agreement or any other Transaction Agreement (as defined in the Purchase Agreement) may be instituted, and that any suit, action or proceeding by it against any other party with respect to this agreement or any other Transaction Agreement shall be
instituted, only in the courts of the State of Delaware, located in the County of New Castle (and appellate courts therefrom), (ii) consents and submits, for itself and its property, to the jurisdiction of such courts for the purpose of any
such suit, action or proceeding instituted against it by the other and (iii) agrees that a final judgment in any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by Law; 
 (b) (i) waives any objection that it may now or hereafter have to the laying
of venue of any suit, action or proceeding arising out of or relating to this agreement or any other Transaction Agreement brought in any court specified in subsection (a) above, (ii) waives any claim that any such suit, action or
proceeding brought in any such court has been brought in an inconvenient forum and (iii) agrees not to plead or claim either of the foregoing; 
 (c) WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER TRANSACTION AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A
JUDGE SITTING WITHOUT A JURY; and 
 (d) to the extent it has or hereafter may acquire any immunity from
jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, hereby irrevocably waives such
immunity in respect of its obligations with respect to this Agreement and the other Transaction Agreements. 
 Any reference herein or in any other Transaction Agreement to a “business day” shall mean a day other than Saturday, Sunday or any other day which commercial banks in San Francisco, California or Stuttgart, Germany are authorized
or required by law to close, and any reference herein or therein to “day” shall mean a calendar day. If any action may or is required to be taken under this agreement or any other Transaction Agreement by a date which is not a business
day, then such date shall be deemed to refer to the business day immediately following such date. 
 *            *            * 

 This letter 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 and the same instrument. 
  

			
	 Sincerely,

	
	 ELON MUSK REVOCABLE TRUST DATED
 JULY 22, 2003

		
	 By:
	 	 /s/ Elon Musk

		 	 Elon Musk, Trustee

  

			
	 Agreed and acknowledged:

	
	 BLACKSTAR INVESTCO LLC

		
	 By:
	 	 /s/ Herbert Kohler

		
	 Name:
	 	 Prof. Herbert Kohler

		
	 Title:
	 	 Vice PresidentForm of Annual Award Agreement

 Exhibit 10.2 
 ANNUAL AWARD AGREEMENT 
 Vistaprint N.V.

 Award Agreement For Fiscal Year [20XX] 
 under the 
 Vistaprint N.V. Performance
Incentive Plan For Covered Employees 
 Participant:
                     
 Vistaprint
N.V. (the “Company”) hereby agrees to award to the participant named above (the “Participant”) on the date set forth below (the “Vesting Date”) a cash amount determined pursuant to the formula set forth below (the
“Cash Payment Amount”). 
 By your acceptance of this Award Agreement, you agree that the Cash Payment Amount will be awarded under
and governed by the terms and conditions of the Vistaprint N.V. Performance Incentive Plan, as amended from time to time (the “Plan”) and by the terms and conditions of the Vistaprint N.V. Performance Incentive Award Agreement – Terms
and Conditions (“Terms and Conditions”), which is attached hereto (this Award Agreement and the Terms and Conditions are together referred to as the “Agreement”). If the conditions described in this Agreement are satisfied, the
Cash Payment Amount will be paid under the Plan on the applicable Payment Date (as defined in the Terms and Conditions). 
 For purposes of this
Agreement, the performance period shall last for one fiscal year of the Company (the “Performance Period”) and shall end on the Vesting Date set forth below. Except as otherwise provided in the Plan and the Terms and Conditions, the
Compensation Committee of the Supervisory Board of the Company (the “Compensation Committee”) must certify in writing that the performance criteria set forth below have been satisfied for the Performance Period. 
 Base Amount, EPS Target and Revenue Target 
 As more fully described below and in the Terms and Conditions, the Cash Payment Amount paid on the Payment Date shall be determined based on the base amount indicated below (the “Base Amount”) and the extent to which the Company
achieves the earnings per share target (“EPS Target”) and revenue target (“Revenue Target”) indicated below. 
 Base
Amount for the Performance Period: $             
 Targets:

  

					
	 Vesting Date
	  	 EPS Target
	  	 Revenue Target

	 June 30, 2010
	  		  	

  

 1 

 Calculation of Cash Payment Amount 
 Payout Percentage = (0.5 X Revenue Target Percentage^0.5 + 0.5 X EPS Target Percentage^0.5)^19.2 
 The Cash Payment Amount for the Performance Period shall equal the Base Amount set forth above multiplied by the Payout Percentage (as defined below). 
  

	 	•	 	 If achievement of either the EPS Target or Revenue Target is less than 90% of such Target for the Performance Period, then the Payout Percentage shall
be deemed to be equal to 0% and no Cash Payment Amount shall be paid. 

  

	 	•	 	 If achievement of both of the EPS Target and Revenue Target is greater than 90%, the Payout Percentage shall be determined based on the formula set
forth above, where: 

  

	 	•	 	 “Revenue Target Percentage” equals the percentage obtained by dividing 

  

	 	(i)	the “Constant Currency Revenue”, defined below, achieved by the Company during the Performance Period, by 

  

	 	(ii)	the Revenue Target. 

  

	 	•	 	 Constant Currency Revenue will be calculated by adjusting the revenue achieved in accordance with United States generally accepted accounting
principles (“US GAAP”) to use the currency exchange rates set forth in the Company’s budget for the Performance Period, so long as the Company’s Supervisory Board approves such budget before the 90th day of the Performance
Period. If the Supervisory Board fails to approve the budget for the Performance Period before the 90th day, then the Company shall use the currency exchange rates set forth in the Company’s budget for the fiscal year immediately preceding the
Performance Period In each case, the Compensation Committee must certify the adjusted revenue so calculated. 

  

	 	•	 	 “EPS Target Percentage” equals the percentage obtained by dividing 

  

	 	(i)	the earnings per share determined in accordance with US GAAP achieved by the Company during the Performance Period, by 

  

	 	(ii)	the EPS Target. 

  

	 	•	 	 For avoidance of doubt, EPS calculations shall be inclusive (net of) the expense associated with any and all employee compensation or bonus plans,
including those made pursuant to the Plan. 

  

	 	•	 	 Notwithstanding anything herein to the contrary, in no event shall the Payout Percentage exceed 250%. 

  

 2 

 Example (the following is an example only and does not reflect actual targets or awards)

 The following chart sets forth example Payout Percentages that would result from the formula set forth above based on various combinations of
Revenue Target Percentages and EPS Target Percentages. The table shows only a subset of possible combinations: actual target percentages are to be calculated directly using the methodology described above. 
 Revenue Target Percentage 
  

																									
		  			 	90	% 	 	95	% 	 	100	% 	 	105	% 	 	110	% 	 	115	% 	 	120	% 
		  	90	% 	 	36	% 	 	47	% 	 	61	% 	 	77	% 	 	98	% 	 	122	% 	 	152	% 
		  	95	% 	 	47	% 	 	61	% 	 	78	% 	 	99	% 	 	125	% 	 	156	% 	 	194	% 
	 EPS Target Percentage
	  	100	% 	 	61	% 	 	78	% 	 	100	% 	 	127	% 	 	159	% 	 	198	% 	 	245	% 
		  	105	% 	 	77	% 	 	99	% 	 	127	% 	 	160	% 	 	200	% 	 	248	% 	 	250	% 
		  	110	% 	 	98	% 	 	125	% 	 	159	% 	 	200	% 	 	250	% 	 	250	% 	 	250	% 
		  	115	% 	 	122	% 	 	156	% 	 	198	% 	 	248	% 	 	250	% 	 	250	% 	 	250	% 
		  	120	% 	 	152	% 	 	194	% 	 	245	% 	 	250	% 	 	250	% 	 	250	% 	 	250	% 

 For example, if for the Performance Period ending June 30, 2010 the Base Amount, EPS Target and
Revenue Target were as follows: 
  

								
	 Example Base Amount
	  	Example EPS Target	  	Example Revenue Target
	$	50,000	  	$	2.00	  	$	50,000,000

 and the Company’s adjusted earnings per share as certified by the Compensation Committee for
such Performance Period were $2.10 and the Company’s adjusted revenue as certified by the Compensation Committee for such Performance Period was $45,000,000, then the Payout Percentage would be 77% and the Cash Payout Amount would be $38,500,
determined as follows: “EPS Target Percentage” is equal to 105% (the amount obtained by dividing the $2.10 adjusted earnings per share as certified by the Compensation Committee by the $2.00 EPS Target) and “Revenue Target
Percentage” is equal to 90% (the amount obtained by dividing the $45,000,000 adjusted revenue as certified by the Compensation Committee by the $50,000,000 Revenue Target), resulting in the following calculations: 
  

			
	Payout Percentage	  	= (0.5 X 90%^0.5 + 0.5 X 105%^0.5)^19.2
	Payout Percentage	  	= 77%
	Cash Payment Amount	  	= Base Amount × Payout Percentage
	Cash Payment Amount	  	= $50,000 × 77%
	Cash Payment Amount	  	= $38,500

  

 3 

							
	Accepted and Agreed:	 		 	Vistaprint N.V.
				
	  
	 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title	 	  

  

 4 

 Vistaprint N.V. 
 Award Agreement For Fiscal Year [20XX] 
 under the 
 Vistaprint N.V. Performance Incentive Plan For Covered Employees 
 Terms and Conditions 
 1. Award. If all the conditions set forth in this Agreement are satisfied, on the Payment Date (as defined below), a Cash Payment Amount will be made under the Plan to the Participant named in the accompanying Award Agreement.
Except as provided in Section 3 below or Articles VI and XI of the Plan, (i) no Cash Payment Amount shall be made until the Payment Date, and (ii) the Participant shall have no rights to any Cash Payment Amount until the Vesting Date.
Except where the context otherwise requires, the term “the Company” shall include any Related Company. Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Award Agreement or the Plan. 
 2. Conditions for the Award. Except as provided in Section 3 below or Articles VI and XI of the Plan, a Cash Payment Amount
shall be paid only if: 
 (a) The Participant is, and has continuously been, an employee of the Company beginning with the date
of this Agreement and continuing through the Vesting Date; and 
 (b) The performance criteria set forth in the accompanying
Award Agreement are satisfied during the Performance Period. The Compensation Committee must determine and certify in writing at the end of the Performance Period the extent, if any, to which the performance criteria have been achieved. In making
its determination, the Compensation Committee shall adjust the performance criteria to take into account proportionate reductions in earnings per share and revenue, as compared to earnings per share and revenue budgeted for the Performance Period,
that the Compensation Committee reasonably determines to have resulted from any acquisitions or dispositions of businesses by the Company. 
 (c) The Cash Payment Amount shall be paid only in the amount determined pursuant to the formula provided under the heading “Calculation of Cash Payment Amount” in the Award Agreement. If
achievement of either the EPS Target or Revenue Target is below 90% for the Performance Period, no Cash Payment Amount shall be paid for such period. 
 3. Employment Events Affecting Payment of Award. 
 (a) If the Participant dies or becomes disabled
(within the meaning of Section 22(e)(3) of the Code) prior to the end of the Performance Period, then the Participant or his estate will nevertheless be eligible to receive on the Payment Date the pro rata share of the Cash Payment Amount based
on the number of months of participation during any portion of the Performance Period in which the death or disability occurs. 
 (b) If the Participant is terminated other than by reason of death or disability, then except to the extent specifically provided to the contrary in any other agreement between the Participant and the Company, no Cash Payment Amount will be
paid and this Agreement will be of no further force or effect unless the performance criteria set forth in the accompanying Award Agreement are satisfied and the Compensation Committee determines, in its sole discretion, that the Cash Payment Amount
is merited. 
 (c) If, at any time after the Vesting Date but before the Payment Date, (i) the Participant’s
relationship with the Company is terminated by the Company for Cause (as defined below) or (ii) the Participant’s conduct after termination of the employment relationship violates the terms of any non-competition, non-solicitation or
confidentiality provision contained in any employment, consulting, advisory, proprietary information, non-competition, non-solicitation or other similar agreement between the Participant and the Company, then, without limiting any other remedy
available to the Company, all right, title and interest in and to the Cash Payment Amount shall be forfeited and revert to the Company as of the date of such determination and the Company shall be entitled to recover from the Participant the Cash
Payment Amount. 
  

 5 

 (d) “Cause,” as determined by the Company (which determination shall be
conclusive), means: 
 (1) the Participant’s willful and continued failure to substantially perform his or her reasonable
assigned duties (other than any such failure resulting from incapacity due to physical or mental illness or, if applicable, any failure after the Participant gives notice of termination for Good Reason, as defined in an agreement between the
Participant and the Company), which failure is not cured within 30 days after a written demand for substantial performance is received by the Participant from the Supervisory Board which specifically identifies the manner in which the Board believes
the Participant has not substantially performed the Participant’s duties; or 
 (2) the Participant’s willful
engagement in illegal conduct or gross misconduct that is materially and demonstrably injurious to the Company. 
 For purposes of this
Section 3(d), no act or failure to act by the Participant shall be considered “willful” unless it is done, or omitted to be done, in bad faith and without reasonable belief that the Participant’s action or omission was in the
best interests of the Company. 
 4. Change in Control. Upon a Change in Control, the performance criteria set forth in the
accompanying Award Agreement for the EPS Target and Revenue Target shall be deemed satisfied for the Performance Period in which the Change in Control occurs, and in lieu of the amounts to be determined pursuant to the formula under the heading
“Calculation of Cash Payment Amount” in the Award Agreement, the Participant shall be entitled to receive instead a Cash Payment Amount equal to 100% of the Base Amount, pro-rated through the date of the Change in Control, for the
Performance Period in which the Change in Control occurs, which amount shall be payable as soon as practicable following the Change in Control, but no later than two and one-half months following the Change in Control. 
 5. No Special Employment or Similar Rights. Nothing contained in the Plan or this Agreement shall be construed or deemed by any person under
any circumstances to bind the Company to continue the employment or other relationship of the Participant with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with the Participant
free from any liability or claim under the Plan or this Agreement. 
 6. Withholding Taxes. The Company’s obligation to pay
the Cash Payment Amount shall be subject to the Participant’s satisfaction of all applicable income, employment, social charge and other tax withholding requirements under all applicable rules and regulations. 
 7. Transferability. This Agreement may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of (whether by
operation of law or otherwise) (collectively, a “transfer”) by the Participant, except that this Agreement may be transferred (i) by the laws of descent and distribution, (ii) pursuant to a qualified domestic relations order, or
(iii) with the prior consent of the Compensation Committee, to or for the benefit of any immediate family member, family trust, family partnership or family limited liability company established solely for the benefit of the Participant and/or
an immediate family member of the Participant. 
 8. Miscellaneous. 
 (a) Except as provided herein, this Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company
and the Participant, unless the Compensation Committee determines that the amendment or modification, taking into account any related action, would not materially and adversely affect the Participant. 
 (b) All notices under this Agreement shall be mailed or delivered by hand to the Company at its main office, Attn: Secretary, and to the
Participant at his or her last known address on the employment records of the Company or at such other address as may be designated in writing by either of the parties to one another. 
 (c) This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, USA. 
  

 6

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