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Document

NOTICE OF STOCK OPTION AWARD

ISOPLEXIS CORPORATION
2021 OMNIBUS INCENTIVE COMPENSATION PLAN

            Unless otherwise defined herein or in the Stock Option Agreement (as defined below), capitalized terms used in this Notice of Option Award (this “Notice of Grant”) shall have the same meanings ascribed to them in the Isoplexis Corporation 2021 Omnibus Incentive Compensation Plan, as amended from time to time (the “Plan”). 

SECTION 1. General.  The Participant named below has been granted an Option (the “Option”), subject to the terms and conditions set forth in the Plan, this Notice of Grant and the Stock Option Agreement attached hereto as Annex A (the “Stock Option Agreement”).  The Option is not intended to qualify as an Incentive Stock Option.

Participant Name:                            [●]

Address:                                             [●]

Total Number of Shares 
Subject to the Option:                       [●]

Exercise Price Per Share:                [●]

Grant Date:                                       [●]

Expiration Date:                               [●]1

SECTION 2. Vesting.  The Option shall vest with respect to twenty-five percent (25%) of the Shares subject thereto on the one-year anniversary of the Grant Date and the remaining seventy-five percent (75%) of the Shares underlying the Option shall vest in thirty-six (36) equal monthly installments thereafter (each such date, a “Vesting Date”); provided that the Participant remains continuously in active employment or service with the Company or one of its Affiliates from the Grant Date through the applicable Vesting Date. 

SECTION 3. Termination of Service.  

(a)If, at any time prior to the final Vesting Date, the Participant’s employment or service with the Company and its Affiliates terminates for any reason (including any termination of employment or service by the Participant for any reason, or by the Company and its Affiliates with or without cause), then any unvested portion of the Option shall be cancelled immediately and the Participant shall not be entitled to receive any payments with respect thereto.  Once any portion of the Option becomes vested and exercisable, the Participant’s right to exercise such vested portion (or the Participant’s representatives and legatees, as applicable) in the event of a termination of the Participant’s employment or service with the Company and its Affiliates shall continue until the earlier of: (i) the date that is (A) 12 months following the date of the Participant’s termination of employment or service, as applicable, due to death or Disability or (B) 90 days following the Participant’s termination of employment or service, as applicable, due to any reason other than death or Disability, and (ii) the Expiration Date; provided that, if the Participant’s employment or service, as applicable, with the Company and its Affiliates is terminated for cause (as determined by the Company in its sole discretion), the Option (whether vested or unvested) shall terminate immediately and be null and void and shall not thereafter be exercisable.

(b)“Disability” has the meaning set forth in the Participant’s employment or service agreement with the Company or any of its Affiliates.  If there is no agreement with such a definition, “Disability” shall mean any medically determinable physical or mental impairment resulting in the Participant’s inability to engage in any substantial gainful activity, where such impairment is likely to result in death or can be expected to last for a continuous period of not less than 12 months, as determined reasonably and in good faith by the Committee. 

SECTION 4. Change of Control.  Upon the occurrence of a Change of Control, the Committee may, in its discretion and upon the satisfaction of any such conditions as the Committee may require, provide that the Option, to the extent unvested will automatically be deemed vested and exercisable immediately prior to such Change of Control.
1 To consist of a date no later than the tenth anniversary of the Grant Date.

SECTION 5. Final Expiration Date.  Unless terminated earlier in accordance with the foregoing, the Option shall automatically expire and be canceled on the Expiration Date.

SECTION 6. Other.  (a) The Participant understands that this Notice of Grant is subject to the terms and conditions of both the Plan and the Stock Option Agreement, each of which are incorporated herein by reference.  Participant has received and has had an opportunity to review the Plan, the Company’s most recent prospectus that describes the Plan, and the Stock Option Agreement and agrees to be bound by all the terms and provisions of the Plan and the Stock Option Agreement.  

(b)        By the Participant’s acceptance hereof (whether written, electronic or otherwise), the Participant agrees, to the fullest extent permitted by law, that in lieu of receiving documents in paper format, the Participant accepts the electronic delivery of any documents the Company, or any third party involved in administering the Plan which the Company may designate, may deliver in connection with this grant (including the Plan, the Stock Option Agreement, this Notice of Grant, account statements, prospectuses, prospectus supplements, annual and quarterly reports, and all other communications and information) whether through the Company’s intranet or the internet site of another such third party or via email, or such other means of electronic delivery specified by the Company.  Furthermore, the Participant and the Company agree that this Award is granted under and governed by the terms and conditions of the Plan, this Notice of Grant and the Stock Option Agreement.  

(c)        The Participant confirms acceptance of this Award by completing, signing and returning the attached signature page to [●]. If the Participant wishes to reject this Award, the Participant must so notify the Company's stock plan administrator in writing to [●] no later than sixty (60) days after the Grant Date. If within such sixty (60) day period the Participant neither affirmatively accepts nor affirmatively rejects this Award, the Participant will be deemed to have accepted this Award at the end of such sixty (60) day period pursuant to the terms and conditions set forth in this Notice of Grant, the Stock Option Agreement and the Plan.

									
	PARTICIPANT		ISOPLEXIS CORPORATION
			
		By:	
	[Participant Name]	Name:	
		Title:	
			

ANNEX A

STOCK OPTION AGREEMENT

ISOPLEXIS CORPORATION
2021 OMNIBUS INCENTIVE COMPENSATION PLAN

The Participant has been granted an Option (the “Options”), subject to the terms, restrictions and conditions of the Isoplexis Corporation 2021 Omnibus Incentive Compensation Plan, as amended from time to time (the “Plan”), the Notice of Stock Option Award (the “Notice of Grant”) and this Stock Option Agreement (this “Agreement”).  Unless otherwise defined herein or in the Notice of Grant, capitalized terms used in this Agreement shall have the same meanings given to them in the Plan.  

SECTION 1. Method of Exercise.  The Participant may exercise any vested and exercisable portion of the Option, in whole or in part, by notifying the Company in writing of the whole number of Shares to be purchased thereunder and delivering with such notice an amount equal to the aggregate Exercise Price for such number of Shares in cash (certified check, wire transfer or bank draft).  Without limiting the foregoing, unless otherwise determined by the Committee, the Participant may instead elect to exercise such portion of the Option by means of a “net exercise” procedure effected by withholding Shares otherwise issuable in respect of such exercise with a Fair Market Value equal to the aggregate Exercise Price for such Shares.

SECTION 2. Tax Withholding.  Exercise of any portion of the Option shall be subject to the Participant satisfying any applicable U.S. Federal, state and local tax withholding obligations and non-U.S. tax withholding obligations.  In this regard, the Participant authorizes the Company and its Affiliates to withhold all applicable taxes legally payable by the Participant from the Participant’s wages or other cash compensation paid to the Participant by the Company or its Affiliates.  Without limiting the foregoing, the Company shall, unless otherwise determined by the Committee, withhold Shares having a Fair Market Value equal to such tax withholding amount (but not in excess of the applicable individual maximum statutory rate) from the Shares that otherwise would be issued to the Participant in respect of such exercise.

SECTION 3. Rights as a Stockholder.  The Participant shall not be deemed for any purpose, nor have any of the rights or privileges of, a stockholder of the Company in respect of any Share underlying the Option unless, until and to the extent that (a) the Option shall have been exercised pursuant to its terms, (b) the Company shall have issued and delivered such Share to the Participant and (c) the Participant’s name shall have been entered as a stockholder of record with respect to such Share on the books of the Company.  The Company shall cause the actions described in clauses (b) and (c) of the preceding sentence to occur promptly following exercise as contemplated by this Agreement, subject to compliance with Applicable Laws.

SECTION 4. Incorporation by Reference, Etc.  The provisions of the Plan and the Notice of Grant are hereby incorporated herein by reference.  Except as otherwise expressly set forth herein or in the Notice of Grant, this Agreement and the Notice of Grant shall be construed in accordance with the provisions of the Plan and any interpretations, amendments, rules and regulations promulgated by the Committee from time to time pursuant to the Plan.  The Committee shall have final authority to interpret and construe the Plan, the Notice of Grant and this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon the Participant and his or her legal representative in respect of any questions arising under the Plan or this Agreement.  Without limiting the foregoing, the Participant acknowledges that the Option and any Shares acquired upon exercise of the Option are subject to provisions of the Plan under which, in certain circumstances, an adjustment may be made to the Exercise Price or number of Shares subject thereto.

SECTION 5. Compliance with Applicable Laws.  The granting and exercise of the Option, and any other obligations of the Company under this Agreement, shall be subject to all Applicable Laws as may be required.  The Committee shall have the right to impose such restrictions on the Option as it deems reasonably necessary or advisable under applicable Federal securities laws, the rules and regulations of any stock exchange or market upon which Shares are then listed or traded, and any blue sky or state securities laws applicable to such Shares.  The Participant agrees to take all steps the Committee or the Company determines are reasonably necessary to comply with all applicable provisions of Federal and state securities law (and any other Applicable Laws) in exercising his or her rights under this Agreement.  

SECTION 6. Miscellaneous.  

(a)Waiver.  Any right of the Company or its Affiliates contained in this Agreement may be waived in writing by the Committee.  No waiver of any right hereunder by any party shall operate as a waiver of any other right, or as a waiver of the same right with respect to any subsequent occasion for its exercise or as a waiver of any right to damages.  No waiver by any party of any breach of this Agreement shall be held to constitute a waiver of any other breach or a waiver of the continuation of the same breach.

(b)Notices.  All notices, requests, consents and other communications to be given hereunder to any party shall be deemed to be sufficient if contained in a written instrument and shall be deemed to have been duly given when delivered in person, by telecopy, by nationally recognized overnight courier, or by first-class registered or certified mail, postage prepaid, addressed to such party at the address set forth below or such other address as may hereafter be designated in writing by the addressee to the addresser:

(i)if to the Company, to:
Isoplexis Corporation 
35 NE Industrial Rd 
Branford, CT 06405
Attn: [●] 

(ii)if to the Participant, to the Participant’s home address on file with the Company.  Notices may also be delivered to the Participant through the Company's inter-office or electronic mail system, at any time he or she is employed by or provided services to the Company or any of its Affiliates.

All such notices, requests, consents and other communications shall be deemed to have been delivered in the case of personal delivery or delivery by telecopy, on the date of such delivery, in the case of nationally recognized overnight courier, on the next business day, and in the case of mailing, on the third business day following such mailing if sent by certified mail, return receipt requested.

(c)Beneficiary.  The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation.  If no beneficiary is designated, if the designation is ineffective, or if the beneficiary dies before the balance of the Participant’s benefit is paid, the balance shall be paid to the Participant’s estate.  Notwithstanding the foregoing, however, the Participant’s beneficiary shall be determined under applicable state law if such state law does not recognize beneficiary designations under Awards of this type and is not preempted by laws which recognize the provisions of this Section 6(c).

(d)Successors.  The terms of this Agreement shall be binding upon and inure to the benefit of the Company or any of its Affiliates and their successors and assigns, and of the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant. 

(e)Governing Law, Venue and Waiver of a Jury Trial.  The validity, construction and effect of the Plan and any rules and regulations relating to the Plan and any Award Agreement shall be determined in accordance with the laws of the [●], without giving effect to the conflict of laws provisions thereof.  In the event that Section 6(f) of this Agreement is found to be invalid or unenforceable, the Participant and the Company (on behalf of itself and its Affiliates) each consents to jurisdiction in the United States District Court for the [●] of [●], or if that court is unable to exercise jurisdiction for any reason, the [●], [●], and each waives any other requirement (whether imposed by statute, rule of court or otherwise) with respect to personal jurisdiction or service of process and waives any objection to jurisdiction based on improper venue or improper jurisdiction.  Additionally, in the event that Section 6(f) of this Agreement is found to be invalid or unenforceable, the Participant hereby waives, to the fullest extent permitted by applicable law, any right he or she may have to a trial by jury in respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement or the Plan.  

(f)Mediation and Arbitration.  If a dispute arises out of or relates to this Agreement or the Plan or the breach thereof, and if the dispute cannot be settled through negotiation, such dispute shall be finally settled by arbitration in [●], before, and in accordance with the rules then obtaining of the American Arbitration Association (the “AAA”) in accordance with the commercial arbitration rules of the AAA.

(g)Confidentiality.  You hereby agree to keep confidential the existence of, and any information concerning, any dispute arising out of or relating to this Agreement or the Plan, except that you may disclose information concerning such dispute to the court that is considering such dispute or to your legal counsel (provided, that such counsel agrees not to disclose any such information other than as necessary to the prosecution or defense of the dispute).

(h)Signature and Acceptance.  This Agreement shall be deemed to have been accepted and signed by the Participant and the Company as of the Grant Date upon the Participant’s acceptance of the Notice of Grant.   

(i)Headings and Construction.  Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference.  Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.  Whenever the words “include”, “includes” or “including” are used in the Plan, they shall be deemed to be followed by the words “but not limited to”, and the word “or” shall not be deemed to be exclusive.EX-10.1

 Exhibit 10.1 

SEPARATION, CONSULTING AND RELEASE AGREEMENT 

This SEPARATION, CONSULTING AND RELEASE AGREEMENT (together with any Exhibits hereto, this “Agreement”) is entered
into by and between 2U, Inc. (the “Company”) and James Kenigsberg (“Executive” and, together with the Company, the “Parties”), dated as of November 10, 2021. 

WHEREAS, Executive, as of the date set forth below, hereby enters into this Agreement with and for the benefit of the Company; 

WHEREAS, Executive participates in the 2U, Inc. Severance Pay and Change in Control Plan (the “Plan”) as a Tier II
Participant; 
 WHEREAS, Executive ceased to serve as Chief Technology Officer of the Company as of November 10, 2021 (the
“Notice Date”); 
 WHEREAS, Executive’s employment with the Company will terminate on January 2, 2022 (the
“Separation Date”), and, pursuant to the terms of the Plan, the circumstances of such termination entitle Executive to Plan Benefits under Section 2.2 of the Plan; 

WHEREAS, the effectiveness of this Agreement pursuant to Section 13(a) is a condition precedent to Executive receiving the benefits set
forth in this Agreement and the Plan; and 
 WHEREAS, capitalized terms and phrases used but not defined herein shall the meanings ascribed
to them in the Plan. 
 NOW, THEREFORE, the Company and Executive, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged and agreed, and intending to be legally bound, hereby agree as follows: 

1.    Resignation of Employment. The Parties agree that Executive’s employment will terminate
effective as of the Separation Date. Effective as of the Notice Date, Executive ceased to serve as the Chief Technology Officer of the Company and, effective as of the Separation Date, Executive hereby resigns from all positions Executive holds as
an officer, director or otherwise with respect to the Company, its subsidiaries and its affiliates. Upon request of the Company, Executive agrees to execute any additional documents and take such additional actions as may be necessary or desirable
to effectuate the foregoing. 
 2.    Consulting Period. 

(a)    Provided that this Agreement becomes effective pursuant to Section 13(a), for the period of time beginning on
the Separation Date through January 2, 2024 (the “Consulting Period”), Executive shall provide consulting services to the Company as an independent contractor, to provide transition services and work on special projects as
requested 

 
by the Company’s Chief Executive Officer or his designee (the “Services”). Executive shall be available to provide such Services up to 20 hours per week. During the
Consulting Period, the Company shall pay Executive an annualized consulting fee of $60,000, paid in equal monthly installments. 

(b)    During the Consulting Period, the Parties agree that Executive is and shall act as an independent contractor under
this Agreement, and not as an employee of the Company. Subject only to such specific limitations as are contained in this Agreement, the manner, means, details or methods by which Executive performs the Services shall be solely within
Executive’s discretion. 
 (c)    The Consulting Period may be terminated by the Company for Cause. If the Company
terminates the Consulting Period for Cause, Executive’s outstanding equity awards shall immediately cease vesting as of the effective date of Executive’s termination. 

3.    Payments and Benefits. 

(a)    Provided that this Agreement becomes effective in accordance with Section 13(a) of this Agreement and
Executive complies with his obligations under this Agreement and the Plan, Executive shall be entitled to receive the Accrued Amounts, the Pro-Rata Bonus and the following payments and benefits, subject to the
terms of this Agreement and the Plan: 
  

	 	(i)	 the Company shall pay to Executive an aggregate amount equal to the product of (i) the sum of
Executive’s Base Salary plus Bonus, multiplied by (ii) the Severance Multiple applicable to the Executive, less all taxes and deductions, which amount shall (subject to any Delay Period required by Section 7.8(b) of the Plan) be
payable in accordance with the Company’s normal payroll practices over a period of twelve (12) months following the Separation Date, with the first payment thereof to be paid on the first regularly scheduled payroll date of the Company
occurring on or after the sixtieth (60th) day following the Separation Date and to include any amounts that would have been otherwise payable to Executive prior thereto; 

 

	 	(ii)	 if the Executive timely elects continued group health coverage pursuant to the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”), during the Continuation Period, the Company shall, on a monthly basis, pay or reimburse to the Executive the full cost of the monthly premiums for continued coverage pursuant to
COBRA, for the Executive and the Executive’s eligible dependents, under the Company’s group health plans in which the Executive participated immediately prior 

  
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to the date of termination of the Executive’s employment or materially equivalent plans maintained by the Company covering its executives in replacement thereof for the earliest of
(i) twelve (12) months following the Separation Date, (ii) the date Executive becomes eligible for coverage under the health insurance plan of a subsequent employer, or (iii) the date the Executive or the Executive’s eligible
dependents, as the case may be, cease to be eligible under COBRA (the “Continuation Period”). Following the Continuation Period, the Executive (or, if applicable, the Executive’s qualified beneficiaries under COBRA) shall be
entitled to such continued coverage for the remainder of the COBRA period, if any, on a full self-pay basis to the extent eligible under COBRA; and 

 

	 	(iii)	 subject to the terms and conditions of the applicable equity incentive plan and corresponding award agreement,
Executive shall continue to vest in his outstanding equity awards during the Consulting Period; 

 provided, however, if
this Agreement does not become effective in accordance with Section 13(a), the Consulting Period shall immediately terminate and Executive shall not be entitled to the payments and benefits set forth in this Section 3. 

(b)    Provided that this Agreement becomes effective in accordance with Section 13(b) of this Agreement, Executive
complies with his obligations under this Agreement and the Consulting Period is not terminated for Cause, the Company agrees to pay Executive, less all applicable tax withholdings and deductions, $50,000. 

4.    Release. 

(a)    Executive, on behalf of himself and his heirs, executors, administrators, successors and assigns, hereby
irrevocably and unconditionally releases the Company, its shareholders, partners, directors, board of managers, officers, agents, employees, employee benefit plans and their fiduciaries and administrators, parent companies, affiliates, subsidiaries,
predecessors and successors, assigns, heirs, executors, administrators, attorneys, and anyone acting on its behalf (collectively, the “Company Releasees”) of and from any and all actions, causes of action, claims, compensation,
costs, demands, damages, debts, expenses, injuries, liabilities, and losses of whatsoever nature, known or unknown (collectively, “Claims”) which Executive or his heirs, executors, administrators, successors or assigns ever had, now
have or hereafter can, will or may have (either directly, indirectly, derivatively or in any other representative capacity) by reason of any matter, fact or cause whatsoever against the Company Releasees: (a) arising from the beginning of time
through the date upon which Executive signs this Agreement, including, but not limited to, (i) any such Claims relating in any way to Executive’s employment relationship with the Company or any other Company Releasee or the termination of
such relationship, whether based on contract, understanding, promise, tort, public policy, common law or any other basis, and (ii) any such Claims arising under any federal, local 

  
 3 

 
or state statute or regulation, including, but not limited to, the following (all statutory references include any amendments thereto): the Age Discrimination in Employment Act of 1967 (if
applicable); the Older Workers Benefit Protection Act; 42 U.S.C. § 1981 (if applicable); the Federal Civil Rights Acts of 1866, 1870, 1871, 1964, 1972, 1988, and 1991; Title VII of the Civil Rights Act of 1964; the National Labor Relations Act;
the Labor Management Relations Act, 1947; the Equal Pay Act of 1963; the Rehabilitation Act of 1973; the Consolidated Omnibus Budget Reconciliation Act of 1985; the Americans With Disabilities Act of 1990; the Family and Medical Leave Act of 1993;
the Employee Retirement Income Security Act; Executive Order 11246; and any other applicable federal, state, or local laws; including but limited the New York State and City Human Rights Laws and the New York Labor Law. Nothing in this Release shall
be deemed to release or impair or any rights that cannot be waived under applicable law, including as to unemployment compensation or workers’ compensation benefits, or Employee’s right to report possible violations of federal law or
regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other
whistleblower protection provisions of state or federal law or regulation. Executive represents that Executive has no complaints, charges, or lawsuits pending against the Company Releasees. Executive understands and agrees that nothing in this
Release is intended to, or shall, interfere with or affect Executive’s right to participate or cooperate in any federal, state, or local administrative or government agency (such as the Equal Employment Opportunity Commission or Securities
Exchange Commission) proceeding or investigation or to file a charge or Claim with such an agency. Executive further covenants and agrees that, except to the extent prohibited by applicable law, neither Executive nor Executive’s heirs,
executors, administrators, successors, or assigns will be entitled to any personal recovery or relief in any proceeding of any nature whatsoever against the Company Releasees arising out of any of the matters released in this Agreement. 

Notwithstanding the foregoing, this Agreement does not limit Executive’s right to receive an award for information provided to the SEC.
In addition, this Agreement does not limit or release Executive’s rights (a) to benefits accrued and vested prior to the Separation Date under any employee benefit plan, policy or arrangement maintained by the Company, (b) to the
Accrued Amounts (as defined in the Plan), (c) as a shareholder or in respect of outstanding equity awards pursuant to the applicable equity plan and award agreement, (d) to indemnification under contract, applicable corporate law, the by-laws or certificate of incorporation of the Company, any Company benefit plan, or as an insured under any director’s and officer’s liability insurance policy, or (e) under this Agreement. 

(b)    Executive acknowledges and agrees that the Company and the Company Releasees have fully satisfied any and all
obligations owed to Executive arising out of or relating to Executive’s employment with the Company, and no further sums, payments or benefits are owed to Executive by the Company or any of the Company Releasees arising out of or relating to
Executive’s employment with the Company, except as expressly provided in this Agreement. 
 5.    Continuing
Obligations. Executive represents and warrants that he has fully complied with the Confidential Information, Invention Assignment, Work for Hire and No Solicit/No Hire Agreement, dated as of February 24, 2009, which is attached
as Exhibit A (the 

  
 4 

 
“February Agreement”), and Executive agrees to fully comply with the Employee Intellectual Property, Non-Competition, and Non-Solicitation Agreement, dated as of November 10, 2021, which is attached as Exhibit B (the “November Agreement”, and together with the February Agreement, the “Restrictive
Covenant Agreement”) during and after the Consulting Period. 
 6.    Permitted Disclosures.
Pursuant to 18 U.S.C. § 1833(b), Executive understands that he will not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret of the Company that (a) is made (i) in
confidence to a Federal, State, or local government official, either directly or indirectly, or his attorney and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other
document that is filed under seal in a lawsuit or other proceeding. Executive understands that if he files a lawsuit for retaliation by the Company for reporting a suspected violation of law, he may disclose the trade secret to his attorney and use
the trade secret information in the court proceeding if he (I) files any document containing the trade secret under seal, and (II) does not disclose the trade secret, except pursuant to court order. Nothing in this Agreement, or any other
agreement that Executive has with the Company, is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section. Further, nothing in this Agreement or any other
agreement that Executive has with the Company shall prohibit or restrict Executive from making any voluntary disclosure of information or documents related to any violation of law to any governmental agency or legislative body, or any
self-regulatory organization, in each case, without advance notice to the Company. 
 7.    Cooperation.
During and after the Consulting Period, Executive agrees that, upon reasonable notice and without the necessity of the Company obtaining a subpoena or court order, Executive shall provide reasonable cooperation in connection with any suit, action or
proceeding (or any appeal from any suit, action or proceeding), and any investigation and/or defense of any claims asserted against the Company or any of its affiliates, that relates to events occurring during the Executive’s employment with
the Company as to which Executive may have relevant information (including but not limited to furnishing relevant information and materials to the Company or its designee and/or providing testimony at depositions and at trial), provided that the
Company agrees to reimburse Executive for out-of-pocket expenses reasonably incurred in connection with any such cooperation, and provided that any such cooperation
shall be scheduled to the extent reasonably practicable so as not to unreasonably interfere with Executive’s business or personal affairs. 

8.    Return of Property. Executive represents that he has returned or has agreed with the Company to a
plan to return, as of the expiration or earlier termination of the Consulting Period, to the Company all Company property which was in his possession, custody or control, including, but not limited to, documents, files, forms, customer information
and lists, confidential business information, keys, and Company-issued credit cards. Notwithstanding the foregoing, Executive shall be permitted to retain any computer equipment such as laptop computers and printers, cell phones, and similar
handheld devices; provided that the Company is given full access to such devices to ensure that all Confidential Information has been removed. 

9.    Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware without regard to the application of any 

  
 5 

 
choice-of-law rules that would result in the application of another state’s laws. The Parties irrevocably
agree that the competent courts of the State of Delaware are to have exclusive jurisdiction to settle any disputes which may arise out of or in connection with this Agreement. 

10.    Legally Authorized. Each Party represents that it is competent to enter into this Agreement and has
the requisite authority to enter into this Agreement. No Party has agreed or promised to do or omit to do any act or thing not herein set forth, and the Parties further understand that a purpose of this Agreement is to compromise and terminate all
Claims of whatever nature, known or unknown, held by Executive. 
 11.    Joint Preparation. This
Agreement shall be deemed to have been prepared jointly by the Parties. Any uncertainty or ambiguity existing herein shall not be interpreted against any Party. 

12.    No Admission. Executive understands that this Agreement shall not in any way be construed as an
admission by the Company or any other Company Releasee of any wrongdoing whatsoever against Executive. The Company specifically disclaims any liability for any wrongdoing against Executive and denies any such wrongdoing, on the part of itself, or
its employees, its agents, or any of the other Company Releasees. 
 13.    Advice of Counsel/Revocation
Period.  
 (a)    Executive hereby acknowledges that he has been advised to seek the advice of
independent counsel. Executive acknowledges that Executive is acting of his own free will, that Executive has been afforded a reasonable time to read and review the terms of the Agreement, especially the release set forth in Section 4 herein,
and that Executive is voluntarily entering into this Agreement with full knowledge of its provisions and effects. Executive intends that this Agreement shall not be subject to any claim for duress. Executive further acknowledges that Executive has
been given at least twenty-one (21) days within which to consider this Agreement and that if Executive decides to execute this Agreement before the twenty-one day
period has expired, Executive does so voluntarily and waives the opportunity to use the full review period. Executive also acknowledges that Executive has seven (7) days following his execution of this Agreement to revoke acceptance of the
Agreement. This Agreement will not become effective until the eighth (8th) calendar day after the date it is executed. If Executive revokes his consent within such seven (7) calendar day period, the Company’s offer of the payments and
benefits set forth in Section 3 above shall be null and void, and Section 4 above shall be of no force or effect. Executive acknowledges that, absent the execution of this Agreement, Executive would not be entitled to the payments and
benefits set forth in Section 3. 
 (b)    Notwithstanding anything in this Agreement to the contrary, Executive
must again re-execute this Agreement following the expiration of the Consulting Period in order to be entitled to the payments and benefits in Paragraph 3(b). Executive acknowledges that Executive has been
given at least twenty-one (21) days following the expiration of the Consulting Period within which to consider this Agreement and that if Executive decides to
re-execute this Agreement before the twenty-one day period has expired, Executive does so voluntarily and waives the opportunity to use the full review period; provided,
however, that Executive may not re-execute this Agreement prior to the end of the Consulting 

  
 6 

 
Period. Executive also acknowledges that Executive has seven (7) days following his re-execution of this Agreement to revoke his re-execution of the Agreement. This Agreement will not become effective until the eighth (8th) calendar day after the date it is re-executed by Executive. If Executive revokes
his consent within such seven (7) calendar day period, the Company’s offer of the payments and benefits set forth in Section 3(b) above shall be null and void. Executive’s failure to
re-execute this Agreement under this Section 13(b) on or within twenty-one (21) days following the end of the Consulting Period in no way affects
Executive’s prior release of claims under this Agreement. By Executive’s re-execution of this Agreement, the release set forth in Paragraph 4 shall be deemed to cover any Claims which Executive has,
may have had, or thereafter may have against the Company or any other Releasee by reason of any matter, cause or thing whatsoever arising from the beginning of time until the date on which Executive
re-executes this Agreement. 
 14.    Acknowledgement. Executive
acknowledges and agrees that he remains subject to the restrictive covenants contained in (a) this Agreement, (b) the Plan, (c) any equity award documents, (d) any employment agreement between Executive and the Company and
(e) the Restrictive Covenant Agreement (collectively, the “Restrictive Covenants”) and that Executive has complied with such Restrictive Covenants and will continue to do so following the date hereof, to the extent required by
such Restrictive Covenants. 
 15.    Representations. Executive represents and agrees that: Executive
has disclosed to the Company any information Executive has which Executive believes concerns any fraudulent or unlawful conduct involving the Company or any Company Releasee, or any conduct that violates the Company’s policies; Executive has
not formally or informally raised or asserted any claims of sexual harassment or sexual abuse against the Company or any Company Releasee, and represents and acknowledges that Executive has no such claims; Executive is receiving valuable
consideration in exchange for executing this Agreement, and agrees that Executive will not argue that the Agreement, in whole or in part, is not supported by sufficient consideration; and Executive has no known work-related injuries, illnesses, or
occupational diseases arising out of or related to Executive’s employment with the Company. 

16.    Section 409A. The intent of the Parties is that the payments provided hereunder comply with
Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), to the extent subject thereto. The Company makes no representation that any or all of the payments described in this Agreement
will be exempt from or comply with Section 409A and makes no undertaking to preclude Section 409A from applying to any such payment. 

17.    Miscellaneous. 

(a)    This Agreement sets forth the entire agreement of the Parties in respect of Executive’s resignation of
employment and the Services to be provided by Executive to the Company following the Separation Date and, except as explicitly stated herein, supersedes all prior agreements, promises, covenants, arrangements, communications, representations or
warranties, whether oral or written, by either Party or any officer, employee or representative of either Party hereto with respect to such subject matter, other than as set forth in Section 6 above. This Agreement shall not be modified or
amended except by written agreement of Executive and the Company. 

  
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 (b)    The provisions of this Agreement shall inure to the benefit of,
and be binding upon, the Parties and their respective successors and assigns. Nothing in this Agreement shall be construed to give any rights to any third parties to enforce or benefit under the terms of this Agreement. 

(c)    No waiver of any one or more of the terms, conditions or obligations of this Agreement, and no partial waiver
thereof, shall be construed as a waiver of any succeeding breach of any of such terms, conditions or obligations or of any of the other terms, conditions or obligations of this Agreement. No failure or delay by either Party at any time to enforce
one or more of the terms, conditions or obligations of this Agreement shall constitute a waiver of such terms, conditions or obligations or shall preclude such Party from requiring performance by the other Party at any time. 

(d)    The headings of this Agreement are inserted for convenience only and neither constitute a part of this Agreement
nor affect in any way the meaning or interpretation of this Agreement. When a reference in this Agreement is made to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. 

(e)    This Agreement may be executed in one or more counterparts, including emailed.
.pdf-ed or telecopied facsimiles, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

(f)    Executive agrees that the Company would suffer irreparable harm if he were to breach, or threaten to breach, any
provision of this Agreement and that the Company would by reason of such breach, or threatened breach, be entitled to injunctive relief in a court of appropriate jurisdiction, without the need to post any bond, and Executive further consents and
stipulates to the entry of such injunctive relief in such a court prohibiting Executive from breaching this Agreement. This section shall not, however, diminish the right of the Company to claim and recover damages in addition to injunctive relief.

 (g)    In the event that any one or more of the provisions of this Agreement shall be held to be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. Moreover, if any one or more of the provisions contained in this Agreement shall be held to be excessively
broad as to duration, activity or subject, such provisions shall be construed by limiting and reducing them so as to be enforceable to the maximum extent allowed by applicable law. Furthermore, a determination in any jurisdiction that this
Agreement, in whole or in part, is invalid, illegal or unenforceable shall not in any way affect or impair the validity, legality or enforceability of this Agreement in any other jurisdiction. 

(h)     Any payments provided for herein shall be reduced by any amounts required to be withheld by the Company under
applicable law then in effect. 
 [signature page to follow] 

  
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 IN WITNESS WHEREOF, the Parties, acknowledging that they are acting of their own free will,
have caused the execution of this Agreement as of this day and year written below. The Parties also acknowledge that they have had a sufficient opportunity to read and review the terms of this Agreement and that they have each received the advice of
their respective counsel with respect hereto. 
 Execution pursuant to Section 13(a) 

 

									
	James Kenigsberg	 		 	2U, Inc.
				
	/s/ James Kenigsberg	 		 	By:	 	/s/ Christopher J. Paucek
		 		 		 	Name:	 	Christopher J. Paucek
		 		 		 	Title:	 	Chief Executive Officer
	Dated:	 	November 10, 2021	 		 	Dated:	 	November 10, 2021

  

			
	 Re-Execution pursuant to Section 13(b):

 
 James Kenigsberg

	
	 

			
		
	Dated:	 	 

  

  
 9 

 Exhibit A 

CONFIDENTIAL INFORMATION, INVENTION ASSIGNMENT, WORK FOR HIRE AND NO SOLICIT/NO HIRE AGREEMENT 

  
 10 

 Exhibit B 

EMPLOYEE INTELLECTUAL PROPERTY, NON-COMPETITION, AND 

NON-SOLICITATION AGREEMENT 

  
 11

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