Document:

Document

EX 10.2

February 9, 2022
Gerrard Schmid 
Address on file with the Company

Re:       Separation and Transition Agreement
Dear Gerrard:

This letter agreement (this “Letter Agreement”) sets forth the understanding between you and Diebold Nixdorf, Inc. (“Diebold”) and Diebold Nixdorf Canada, Limited (together, the “Company”) regarding your separation from the Company and assistance with the Company’s transition to a new President and Chief Executive Officer.  

1.    Separation Process

Your employment with the Company will end on March 11, 2022 (the “CEO Transition Date”).  On that date, your separation from service as President and Chief Executive Officer of Diebold as well as any other position you hold as an officer or director of the Company or any of its subsidiaries, affiliates, joint ventures or other related entities, will be effective.  Notwithstanding the foregoing, you will continue to serve on the Board of Directors of Diebold (the “Board”) as a non-employee director until the upcoming Annual Meeting of Shareholders, at which your current term expires (the “Director Transition Date”). No further action or documentation is required to give effect to your separation from service as of the CEO Transition Date or to your Board resignation as of the Director Transition Date, although you agree to execute any further documentation that the Company may reasonably request to evidence them.  You shall also execute any documentation required by the Company related to your duties as an officer or director of the Company or any of its subsidiaries, affiliates, joint ventures or other related entities which may be required during or after the Transition Period.

(a)    From now until the CEO Transition Date (the “Transition Period”), you will continue to serve as President and Chief Executive Officer of Diebold and have the powers, duties and responsibilities customarily associated with that position.  During the Transition Period, you will receive your current base salary, and a bonus payment calculated under the 2021 Annual Incentive Plan based on actual performance. You will also be eligible to receive a prorated bonus payment, from January 1, 2022 through the CEO Transition Date, calculated under the 2022 Annual Incentive Plan based on actual performance and payable in 2023 at the time the Company’s executives receive their bonus payments.

(b)    Effective the 1st day after the CEO Transition Date, you will be eligible to continue to participate, at your own expense, in the Company’s health and hospitalization insurance program under COBRA for a period of 18 months.  You understand and agree that, 

subject to any applicable laws or regulations, you will be responsible for the full payment of all amounts associated with participation in this program under COBRA.

(c)    During the period commencing on the CEO Transition Date and ending on the three month anniversary of the CEO Transition Date (the “Advisory Period”), you agree to provide advisory services to the Company on such matters as the Board or the Chief Executive Officer of Diebold may reasonably request within your knowledge and experience related to the business of the Company and its affiliates.  During the Advisory Period and until the Director Transition Date, any time-vesting and performance-vesting equity awards outstanding as of the CEO Transition Date will remain eligible to vest in accordance with their terms without regard to continued employment (collectively, the “LTI Treatment”). Also during the Advisory Period, you will remain eligible to receive an executive physical examination at the Cleveland Clinic. 

(d)    In connection with your separation from the Company and the execution of this Letter Agreement, you will be entitled to receive a separation transition payment of $4,000,000 (your “Separation Transition Payment”).  Your Separation Transition Payment will be paid in three equal parts ($1,333,333.33 per payment) on or before March 31, 2022, June 30, 2022 and September 30, 2022, after your execution and delivery of the general release of claims in favor of the Company in the form attached hereto as Exhibit A ( the “General Release”) within 60 days after the CEO Transition Date. You agree that you will forfeit your LTI Treatment, your Separation Transition Payment and any 2022 prorated bonus if (a) you terminate your employment for any reason prior to the CEO Transition Date, (b) you are terminated for Cause (as defined in the Company’s Senior Leadership Plan amended and restated effective July 24, 2015 (the “Severance Plan”), provided that your employment may not be terminated for Cause unless, after the applicable cure period, you are provided an opportunity to be heard at a Board meeting held for the purpose of considering a for Cause termination), (c) you fail to provide the General Release within 60 days after the CEO Transition Date or (d) you materially breach any of the restrictive covenants below and have failed to remedy such material breach within 30 days following written notice from the Company of such material breach.

(e)    You acknowledge and agree that, except for the payments set forth in Section 1 of this Letter Agreement and any previously vested benefits, accrued salary through the CEO Transition Date, accrued but unused vacation through the CEO Transition Date, and unreimbursed business expenses (the “Accrued Benefits”), you will not be eligible for any other compensation or benefits from the Company or its affiliates, including, without limitation, any severance or other benefits pursuant to the Severance Plan or your Offer Letter with the Company, dated February 20, 2018 (your “Offer Letter”).

2.    Restrictive Covenants

You acknowledge and agree that you have served a critical business role and acquired and will continue to acquire Protected Information about the business, operations, customers, partners and trade connections of the Company and developed critical relationships with the Company’s customers.  As a condition to receiving any payments or benefits pursuant to this Letter Agreement, including the LTI Treatment, you agree that the following shall apply:

(a)    Noncompetition.  For a period of two years after the CEO Transition Date, you shall not anywhere (i) directly or indirectly act in concert or conspire with any person employed by the Company in order to engage in or prepare to engage in or to have a financial or other interest in any of the following entities: NCR, Hyosung, Brinks, Euronet, Fujitsu or Toshiba; or (ii) serve as an employee, agent, partner, shareholder, director, or consultant for, or in any other capacity participate, engage, or have a financial or other interest in NCR, Hyosung, Brinks, Euronet, Fujitsu, Toshiba or any business substantially in the ATM and/or retail point of sale or self-checkout business, including managed services  (provided, however, that notwithstanding anything to the contrary herein, you may own up to two percent (2%) of the outstanding shares of the capital stock of a company whose securities are registered under Section 12 of the Securities Exchange Act of 1934). 

(b)    Confidentiality. The Company has advised you, and you acknowledge that it is the policy of the Company to maintain as secret and confidential all Protected Information (as defined below), and that Protected Information has been and will be developed at substantial cost and effort to the Company. You shall not at any time, directly or indirectly, divulge, furnish, or make accessible to any person, firm, corporation, association, or other entity (otherwise than as may be required in the regular course of the your employment), nor use in any manner, either during your employment or after termination for any reason, any Protected Information, or cause any such Protected Information of the Company to enter the public domain.  For purposes of this Letter Agreement, “Protected Information” means trade secrets, confidential and proprietary business information of the Company, and any other information of the Company, including, but not limited to, customer lists (including potential customers), sources of supply, processes, plans, materials, pricing information, internal memoranda, marketing plans, internal policies, and products and services that may be developed from time to time by the Company and its agents or employees, including you; provided, however, that information that is in the public domain (other than as a result of a breach of this Letter Agreement), approved for release by the Company or lawfully obtained from third parties who are not bound by a confidentiality agreement with the Company, is not Protected Information.

(c)    Nonsolicitation. For a period of two years after the CEO Transition Date, you shall not: (i) employ or retain or solicit for employment or arrange to have any other person, firm, or other entity employ or retain or solicit for employment or otherwise participate in the employment or retention of any person who is an employee or consultant of the Company as of the CEO Transition Date; or (ii) solicit suppliers or customers of the Company or induce any such person to terminate his, her, or its relationship with the Company.  Notwithstanding the foregoing, a general solicitation or advertisement for job opportunities that you may publish or share without targeting any Company employees or consultants shall not constitute a violation of this Section 2(c).

(d)    Cooperation.  You agree to cooperate with the Company and its attorneys in connection with any and all lawsuits, investigations, or similar proceedings that have been or could be asserted at any time arising out of or related in any way to your employment by the Company or any of its subsidiaries. The Company agrees to reimburse you for any reasonable out-of-pocket expenses incurred in connection with your performance of cooperation services pursuant to this Section 2(d).

(e)    Nondisparagement.  At all times, you agree not to knowingly disparage the Company or otherwise knowingly make comments harmful to the Company’s reputation. The Company agrees that its current officers and directors shall not knowingly disparage you or otherwise knowingly make comments harmful to your reputation. 

(f)    Exceptions.  (i) Notwithstanding anything to the contrary in this Letter Agreement, you may disclose confidential or proprietary information if compelled to do so by a subpoena or a valid order of any government officer or agency or of a court of competent jurisdiction, specifically directing you to disclose the information, provided that you shall attempt to avoid or resist such subpoena or order and, in any event, shall notify the Company in writing of such subpoena or order not less than five (5) days prior to any such disclosure, or as soon in advance as possible, (ii) nothing in this Letter Agreement is intended to or shall prevent, impede or interfere with your non-waivable right, without prior notice to the Company, to provide information to the government, participate in investigations, file a complaint, testify in proceedings regarding the Company’s past or future conduct, or engage in any future activities protected under the whistleblower statutes administered by any government agency, or to receive and fully retain a monetary award from a government-administered whistleblower award program for providing information directly to any government agency, including, but not limited to the Occupational Safety and Health Administration (“OSHA”) and the U.S. Securities and Exchange Commission (“SEC”) and (iii) you shall not be held criminally or civilly liable under Federal or State trade secret law for the disclosure of a trade secret that (A) is made (x) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (y) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Furthermore, in the event you file a lawsuit for retaliation by the Company for your reporting a suspected violation of the law, you may disclose the trade secret to attorney and may use the trade secret information in the court proceeding, if you file any document containing the trade secret under seal, and does not disclose the trade secret, except pursuant to court order.

(g)    Severability.  If any provision of this Section 2 is held to be unenforceable, then this Letter Agreement will be deemed amended to the extent necessary to render the otherwise unenforceable provision, and the rest of Section 2, valid and enforceable.  If a court declines to amend the provisions of Section 2 as provided herein, the invalidity or unenforceability of any provision in Section 2 shall not affect the validity or enforceability of the remaining provisions in Section 2, which shall be enforced as if the offending provision had not been included in this Letter Agreement.

3.    Other Terms

(a)    Breach.  You agree and acknowledge that should you materially violate any term of this Letter Agreement, the amount of damages that the Company would suffer as a result of such violation may be difficult to ascertain and money damages may not afford the Company an adequate remedy.  The term(s) of any covenant(s) in Section 2 will not run during any time in which you are in material violation of said covenant(s)  You further agree and acknowledge that in the event a court of competent jurisdiction determines that you have  materially breached any material term of this Letter Agreement, the Company’s obligation to provide you with any 

payments pursuant to Section 1 of this Letter Agreement (other than the Accrued Benefits) will immediately cease, and the Company may be entitled to recover monetary damages and obtain all other relief provided by law or equity, including, but not limited to, injunctive relief.

(b)    Entire Understanding.  This Letter Agreement sets forth the entire agreement between you and the Company regarding your termination of employment and other service relationships with the Company and its affiliates, and supersedes any other severance, separation and/or employment agreements between you and the Company (including, for the avoidance of doubt, your Offer Letter).  As of the CEO Transition Date, your Offer Letter will terminate and be of no further force and effect.  Notwithstanding the foregoing, any indemnification agreement between you and the Company shall remain in full force and effect in accordance with its terms, and nothing in this Agreement affects your rights to indemnification under the Company’s by-laws, certificate of incorporation or other organizing document of the Company or any affiliate or any rights to insurance coverage under any directors and officers or other liability insurance policy.

(c)    Amendment; Governing Law; Disputes.  The terms set forth in this Letter Agreement shall not be changed, altered, modified or amended, except by a written agreement that (i) explicitly states the intent of both parties hereto to amend this Letter Agreement and (ii) is signed by both parties hereto. This Letter Agreement shall be governed by and construed in all respects by the laws of Ohio without reference to principles of conflicts of laws. Any disputes relating to your employment, termination, or equity rights shall be resolved by third party mediation and, failing that, by binding arbitration to be held in Cleveland, Ohio in accordance with the rules and procedures of the American Arbitration Association. The Company will pay the costs and expenses of such mediation and/or arbitration.

(d)    Severability; Counterparts.  The invalidity or unenforceability of any provision of this Letter Agreement will not affect the validity or enforceability of any other provision.  If any provision of this Letter Agreement is held invalid or unenforceable in part, the remaining portion of such provision, together with all other provisions of this Letter Agreement, will remain valid and enforceable and continue in full force and effect to the fullest extent consistent with law.  This Letter Agreement may be executed in several counterparts, each of which will be deemed an original, and such counterparts will constitute one and the same instrument.

(e)    Section 409A of the Code.  The payments and benefits provided under this Letter Agreement are intended to be exempt from or otherwise comply with the requirements of Section 409A, and this Letter Agreement shall be interpreted in accordance with such intent.  Each payment under this Letter Agreement shall be treated as a separate payment for purposes of Section 409A.  If and to the extent that any payment or benefit is determined by the Company (a) to constitute “non-qualified deferred compensation” subject to Section 409A and (b) such payment or benefit must be delayed for six (6) months from your date of termination (or an earlier date) in order to comply with Section 409A(a)(2)(B)(i) of the Code and not cause you to incur any additional tax under Section 409A, then the Company will delay making any such payment or providing such benefit until the expiration of such six (6)-month period (or, if earlier, your death or a “change in control event”, as such term is defined in Section 409A-3(i)(5) of the Code).

(f)    Other Tax Matters. All amounts payable to you shall be subject to the withholding of all applicable taxes and deductions required by any applicable law and employee elections. Reimbursement of any unreimbursed business expenses incurred prior to the CEO Transition Date shall be made promptly upon presentation of documentation in accordance with the Company’s policies with respect thereto as in effect from time to time (but in no event later than the end of the calendar year following the year such expenses were incurred); provided, however, that in no event shall the amount of expenses eligible for reimbursement hereunder during a calendar year affect the expenses eligible for reimbursement in any other taxable year. In no event may you, directly or indirectly, designate the calendar year of any payment under this Letter Agreement.

(g)    Return of Company Property. You agree to return all Company property and any Protected Information and proprietary data (regardless of the medium in which it is memorialized), provided, that the Company agrees that you are permitted to retain your contact lists and copies of materials relating to your compensation and otherwise containing data reasonably needed for tax purposes.

[Remainder of Page Left Intentionally Blank]

To indicate your agreement with the foregoing, please sign and return this Letter Agreement to ● at ●.

Very truly yours,

Diebold Nixdorf, Inc.

By:  /s/Jonathan Leiken                                       
Name: Jonathan Leiken
Title: EVP, CLO and Secretary 

Accepted and Agreed:

/s/Gerrard Schmid                                           
Name:    Gerrard Schmid
Date:      February 9, 2022Exhibit 4.4

    

     

    

    
      INMODE LTD.

      

      

      2018 INCENTIVE PLAN

      

      

      RESTRICTED SHARE UNIT AWARD GRANT NOTICE AND

        RESTRICTED SHARE UNIT AWARD AGREEMENT

        FOR PARTICIPANTS IN ISRAEL

      

      

      InMode Ltd., a company organized under the laws of the State of Israel (the “Company”), pursuant to its 2018 Incentive Plan in the form
        attached hereto as Exhibit A (collectively referred to as the “Plan,” except where the context otherwise requires),
        hereby grants to the individual listed below (the “Participant”), an award (the “Award”) of restricted share units (“Restricted Share
          Units” or “RSUs”). Each RSU represents the right to receive one unrestricted, fully transferable
        ordinary share of the Company (each a “Share,” collectively “Shares”) upon vesting. This Award is subject to all of the terms and conditions as set forth herein, in the
        Restricted Share Unit Award Agreement attached hereto as Exhibit B (the “Agreement”) and the Plan, each of which are incorporated herein by reference.
        Capitalized terms not otherwise defined in this Grant Notice and the Agreement shall have the meaning ascribed to such terms in the Plan.

      

      

      	
              Participant’s Name:

            	
              [__]

            
	
              Grant Date:

            	
              [__]

            
	
              Total Number of RSUs:

            	
              [__]

            
	
              Vesting Commencement Date:

            	
              [__]

            
	
              Type of RSUs:

            	
              [102 Capital Gains Track / Section 3(i)]

            
	
              Vesting Schedule:

            	
              [__]

            

      

      

      By his or her acceptance of the Award through the Company's online acceptance procedure (or by his or her signature and the signature of the Company’s representative below), the
        Participant agrees to be bound by the terms and conditions of the Plan, the Agreement and this Grant Notice. The Participant has reviewed the Agreement, the Plan and this Grant Notice in their entirety and fully understands all provisions of this
        Grant Notice, the Agreement and the Plan. The Participant also agrees that the Company, in its sole discretion, may satisfy any applicable tax withholding obligations in accordance with Section 2.6 of the Agreement by (i) withholding Shares
        otherwise issuable to the Participant upon settlement of the RSUs (which is intended to occur immediately following vesting), (ii) instructing a broker on the Participant’s behalf to sell Shares otherwise issuable or issued to the Participant upon
        settlement of the RSUs (which is intended to occur immediately following vesting) and submit the proceeds of such sale to the Company, or (iii) using any other method permitted by Section 2.6 of the Agreement or the Plan. The Participant hereby
        agrees to accept as binding, conclusive and final all decisions or interpretations of the Company's Board of Directors (the “Board”) and/or the Company's Compensation Committee appointed by the Board (the “Committee”), which administrate the Plan (the Board and/or the Committee shall be collectively referred to herein as the “Administrator”) upon any questions arising under
        the Plan or relating to the RSUs.

      

      

      
        
          

      

      
      The Participant and the Company further agree that, provided the Participant is eligible to be granted a 102 Award (an “Eligible 102 Participant”),

        the RSUs are intended to be granted under and governed by Section 102(b)(2) and 102(b)(3) of the Israeli Income Tax Ordinance (New Version) – 1961 and the Rules promulgated in connection therewith (the “Ordinance”),

        and the Trust Agreement between the Company and the Trustee, a copy of which is attached hereto as Exhibit C (the “Trust Agreement”). Furthermore, the
        Participant agrees that the RSUs and underlying Shares will be issued to the Trustee to hold on the Participant’s behalf, pursuant to the terms of the Ordinance, the 102 Rules (as such term is defined in the Plan) and the Trust Agreement. The
        Participant confirms that he or she is familiar with the terms and provisions of Section 102 of the Ordinance, particularly the Capital Gains Track described in subsection (b)(2) and (b)(3) thereof, and agrees that he or she will not require the
        Trustee to release the RSUs or Shares to the Participant, or to sell the Shares to a third party, during the Trust Period, unless permitted to do so by applicable law.

      

      

      This Grant Notice may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.

      

      

      	
              INMODE LTD.:

               

            	 	
              PARTICIPANT:

            
	
              By:

            	
              ____________________

            	 	
              By:

            	
              ____________________

            
	
              Print Name:

            	
              ____________________

            	 	
              Print Name:

            	
              ____________________

            
	
              Title:

            	
              ____________________

            	 	 

      

      

      Attachments:

       

      	
              Exhibit A:

            	
              InMode Ltd. 2018 Incentive Plan

            
	

            	 
	
              Exhibit B:

            	
              Restricted Share Unit Award Agreements for Participants in Israel

            
	

            	 
	
              Exhibit C:

            	
              Trust Agreement

            

      

      

      
        - 2 -

        
          

      

       

      EXHIBIT A

       

      TO RESTRICTED SHARE UNIT AWARD GRANT NOTICE

       

      2018 INCENTIVE PLAN

      

      

      
        - 3 -

        
          

      

      

      EXHIBIT B

       

      

      TO RESTRICTED SHARE UNIT AWARD GRANT NOTICE

       

      RESTRICTED SHARE UNIT AWARD AGREEMENT

      FOR PARTICIPANTS IN ISRAEL

      

      

      Pursuant to the Restricted Share Unit Award Grant Notice (the “Grant Notice”) to which this Restricted Share Unit Award Agreement (the “Agreement”) is attached, InMode Ltd., a company organized under the laws of the State of Israel (the “Company”), has granted to Participant an award (the “Award”) of restricted share units (the “Restricted Share Units” or “RSUs”) under the Company’s 2018 Incentive Plan (referred to herein as the “Plan”).

      

      

      ARTICLE I

      GENERAL

      

      

      1.1    Defined Terms. Wherever the following terms are used in this Agreement they shall have the meanings specified below, unless the context clearly indicates otherwise.
        Capitalized terms not specifically defined herein shall have the meanings specified in the Plan or the Grant Notice, as applicable.

      

      

      (a)     “Termination of Consultancy” shall mean the time when the engagement of the Participant as a consultant to the Company or any
        affiliate thereof is terminated for any reason, with or without cause, including, but not by way of limitation, by resignation, discharge, death or retirement, but excluding: (i) terminations where there is a simultaneous employment or continuing
        employment of the Participant by the Company or any affiliate thereof, and (ii) terminations where there is a simultaneous re-establishment of a consulting relationship or continuing consulting relationship between the Participant and the Company
        or any affiliate thereof. The Administrator, in its absolute discretion, shall determine the effect of all matters and questions relating to Termination of Consultancy, including, but not by way of limitation, the question of whether a particular
        leave of absence constitutes a Termination of Consultancy. Notwithstanding any other provision of the Plan, the Company or any affiliate thereof has an absolute and unrestricted right to terminate a consultant’s service at any time for any reason
        whatsoever, with or without cause, except to the extent expressly provided otherwise in writing.

      

      

      (b)    “Termination of Directorship” shall mean the time when the Participant, if he or she is or becomes a member of the Board who is not
        an employee of the Company or any of its affiliates (“Non-Employee Director”), ceases to be a member of the Board for any reason, including, but not by way of limitation, a termination by resignation, failure
        of shareholders to approve re-appointment, failure to be re-elected, death or retirement. The Board, in its sole and absolute discretion, shall determine the effect of all matters and questions relating to Termination of Directorship with respect
        to Non-Employee Directors.

      

      

      (c)    “Termination of Employment” shall mean the time when the employee-employer relationship between the Participant and the Company or
        any affiliate thereof is terminated for any reason, with or without cause, including, but not by way of limitation, a termination by resignation, discharge, death, disability or retirement; but excluding: (i) terminations where there is a
        simultaneous reemployment or continuing employment of the Participant by the Company or any affiliate thereof, (ii) terminations where there is a simultaneous establishment of a consulting relationship or continuing consulting relationship between
        the Participant and the Company or any affiliate thereof, and (iii) terminations where the Participant simultaneously becomes or previously is appointed or elected as a Non-Employee Director. The Administrator, in its absolute discretion, shall
        determine the effect of all matters and questions relating to Termination of Employment, including, but not by way of limitation, the question of whether a particular leave of absence constitutes a Termination of Employment.

      

      

      
        - 4 -

        
          

      

      (d)    “Termination of Services” shall mean the Participant’s Termination of Consultancy, Termination of Directorship or Termination of
        Employment, as applicable.

      

      

      1.2    General. Each Restricted Share Unit shall constitute a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one Share
        (subject to adjustment as provided in Section 10.1 of the Plan) solely for purposes of the Plan and this Agreement. The Restricted Share Units shall be used solely as a device for the determination of the payment to eventually be made to the
        Participant if such Restricted Share Units vest pursuant to Section 2.3 hereof. The Restricted Share Units shall not be treated as property or as a trust fund of any kind.

      

      

      1.3    Incorporation of Terms of Plan. The RSUs are subject to the terms and conditions of the Plan and the Trust Agreement, entered into between the Company and the
        Trustee, which are incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.

      

      

      ARTICLE II

       

        

      GRANT OF RESTRICTED SHARE UNITS

      

      

      2.1    Grant of RSUs; Compliance with Section 102.

      

      

      (a)    Effective as of the grant date set forth in the Grant Notice (the “Grant Date”), the Company grants to the Participant the Award as
        set forth in the Grant Notice.

      

      

      (b)    If the Award is a 102 Award granted to an Eligible 102 Participant, the RSUs will be registered in the name of the Trustee as required by law to qualify under Section 102,
        for the benefit of the Participant. The Participant shall comply with the Ordinance, the 102 Rules, and the terms and conditions of the Trust Agreement entered into between the Company and the Trustee. The Trustee will hold the RSUs or the Shares
        to be issued upon settlement of the RSUs (which is intended to occur immediately following vesting) for at least the Trust Period, as set forth in the Plan. The Participant hereby undertakes to release the Trustee from any liability in respect of
        any action or decision duly taken and bona fide executed in relation to the Plan, or any RSU granted to him/her thereunder. The Participant hereby confirms that he/she shall execute any and all documents
        which the Company or the Trustee may reasonably determine to be necessary in order to comply with the Ordinance and particularly the 102 Rules.

      

      

      2.2    Company’s Obligation to Pay. Each RSU has a value equal to the fair market value of a Share on the date it becomes vested. Unless and until the RSUs will have
        vested in the manner set forth in Article II hereof, the Participant will have no right to payment of any such RSUs. Prior to actual payment of any vested RSUs, such RSUs will represent an unsecured obligation of the Company, payable (if at all)
        only from the general assets of the Company.

      

      

      
        - 5 -

        
          

      

      2.3    Vesting Schedule; Notice to Trustee.

      

      

      (a)    Subject to Section 2.4 hereof and any accelerated vesting provisions in any employment agreement or other agreement between the Participant and the Company, the RSUs
        awarded by the Grant Notice will vest and become non-forfeitable with respect to the applicable portion thereof according to the vesting schedule set forth on the Grant Notice to which this Agreement is attached (the “Vesting Schedule”), subject to the Participant’s continued employment or service through such dates, as a condition to the vesting of the applicable installment of the RSUs and the rights and benefits under this Agreement. Unless
        otherwise determined by the Administrator, partial employment or service, even if substantial, during any vesting period will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or
        following a Termination of Services as provided in Section 2.4 below or under the Plan.

      

      

      (b)    If the Award is a 102 Award granted to an Eligible 102 Participant, the Company will notify the Trustee upon vesting of RSUs. The Shares issued upon the vesting of the
        RSUs shall be issued in the name of the Trustee, and held in trust on the Participant’s behalf by the Trustee, until they are sold or transferred by the Trustee, provided that the Participant first complies with the tax withholding provisions set
        forth in this Agreement. In the event that the Participant elects to have the Shares transferred to the Participant without selling such Shares, the Participant shall become liable to pay taxes immediately in accordance with the provisions of the
        Ordinance.

      

      

      2.4    Forfeiture, Termination and Cancellation upon Termination of Services. Notwithstanding any contrary provision of this Agreement, upon the Participant’s Termination
        of Services for any or no reason, the then-unvested RSUs subject to this Agreement will be automatically forfeited, terminated and cancelled as of such date without payment of any consideration by the Company, and the Participant, or the
        Participant’s beneficiary or personal representative, as the case may be, shall have no further rights hereunder. For the avoidance of doubt, except as otherwise provided by the Administrator, no RSUs shall vest following the Participant’s
        Termination of Services.

      

      

      2.5    Payment after Vesting. As soon as administratively practicable, following the vesting of any Restricted Share Units pursuant to Section 2.3 or Section 3.2, the
        Company shall deliver to the Participant a number of Shares (either by delivering one or more certificates for such shares or by entering such shares in book entry form, as determined by the Company in its sole discretion and in accordance with
        Section 2.3(b)) equal to the number of Restricted Share Units subject to this Award that vest on the applicable vesting date, unless such Restricted Share Units terminate prior to the given vesting date pursuant to Section 2.4. Notwithstanding the
        foregoing, in the event Shares cannot be issued pursuant to Section 2.9(a), (b) or (c) hereof, then the Shares shall be issued pursuant to the preceding sentence as soon as administratively practicable after the Administrator determines that Shares
        can again be issued in accordance with Sections 2.9(a), (b) and (c) hereof; provided, however, that if the Participant is a U.S. federal taxpayer, any such delay shall apply only to the extent permissible under Section 409A (as
        defined below).

      

      

      
        - 6 -

        
          

      

      2.6    Responsibility for Taxes.

      

      

      	

            	(a)	
              The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Participant’s employer (the “Employer”) or the Trustee, the ultimate liability for all income
                tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (collectively, “Tax-Related Items”) is and remains the Participant’s responsibility. The Participant further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding the
                treatment of any Tax-Related Items in connection with any aspect of the Award, including, but not limited to, the grant, vesting or payment of the RSUs, the issuance of Shares, the subsequent sale of Shares and the receipt of any dividends;
                and (ii) do not commit to and are under no obligation to structure the terms of the RSUs or any aspect of the RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. Further, if
                the Participant has become subject to tax in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in
                more than one jurisdiction.

            

      

      

      	

            	(b)	
              Prior to any relevant taxable or tax withholding event, as applicable, the Participant will pay or make arrangements satisfactory to the Company and/or the Employer to fulfill all Tax-Related Items. In this regard, the Participant
                authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy any applicable withholding obligations with regard to all Tax-Related Items by one or a combination of the following:

            

      

      

      	

            	(i)	
              withholding from the Participant’s salaries or other cash compensation paid to the Participant by the Company and/or the Employer;

            

      

      

      	

            	(ii)	
              requiring the Participant to tender payment in cash, check or wire transfer of the Tax-Related Items to the Company, the Employer or the Trustee;

            

      

      

      	

            	(iii)	
              withholding from proceeds of the sale of Shares acquired upon payment of the RSUs either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without
                further consent);

            

      

      

      	

            	(iv)	
              withholding Shares to be issued upon payment of the RSUs (“net-share withholding”), provided, however, that if the Company is subject to Section 16 of the Exchange Act and the Participant is a
                Section 16 officer of the Company under the Exchange Act, then applicable withholding obligations for Tax-Related Items will be settled by withholding Shares in accordance with this subsection (iv) or, alternatively, the Committee (as
                constituted in accordance with Rule 16b-3 under the Exchange Act) shall establish the method of withholding from alternatives (i)-(iii) herein; and/or

            

      

      

      	

            	(v)	
              any other method of withholding determined by the Company and permitted by applicable law.

            

      

      

      
        - 7 -

        
          

      

      	

            	(c)	
              Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or, to the extent permitted under the Plan, other applicable withholding
                rates, including maximum applicable rates in the Participant’s jurisdiction(s) in which case the Participant will receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent amount in Shares. If the
                obligation for Tax-Related Items is satisfied by withholding in Shares, for purposes of calculating the Tax-Related Items and determining the number of Shares that have been delivered in accordance with Section 2.5 above, the Participant
                will be deemed to have been issued the full number of Shares subject to the vested RSUs, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items.

            

      

      

      	

            	(d)	
              The Company may refuse to deliver the Shares or the proceeds of the sale of Shares, if the Participant fails to comply with the Participant's obligations in connection with the Tax-Related Items.

            

      

      

      	

            	(e)	
              The Participant agrees to indemnify the Company and/or its affiliates and/or the Trustee and hold them harmless against and from any and all liability for any such Tax-Related Item or interest or penalty thereon, including without
                limitation, liabilities relating to the necessity to withhold, or to have withheld, any such Tax-Related Items from any payment made to the Participant for which the Participant is responsible.

            

      

      

      2.7    Section 409A. The RSUs are not intended to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the U.S. Internal Revenue Code of
        1986, as amended (the “Code”, and together with any U.S. Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other
        guidance that may be issued after the date hereof, “Section 409A”). However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement, if at any time the Participant is a U.S.
        federal taxpayer and the Administrator determines that the RSUs (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify the Participant
        or any other person for failure to do so) to adopt such amendments to the Plan, this Agreement or the Grant Notice or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other
        actions, as the Administrator determines are necessary or appropriate either for the RSUs to be exempt from the application of Section 409A or to comply with the requirements of Section 409A. Notwithstanding the foregoing, the Company makes no
        representation that the grant, vesting, or payment of the RSUs provided for under this Agreement will be exempt from or compliant with Section 409A and the Company will have no liability to the Participant or any other party if such grant, vesting
        or payment of RSUs is not so exempt or compliant or for any action taken by the Company with respect thereto.

      

      

      2.8    Rights as Shareholder. The holder of the RSUs shall not be, nor have any of the rights or privileges of, a shareholder of the Company, including, without
        limitation, any dividend rights and voting rights, in respect of the RSUs and any Shares underlying the RSUs and deliverable hereunder unless and until such Shares shall have been actually issued by the Company and held of record by such holder (as
        evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued,
        except as provided in Section 10.1 of the Plan.

      

      

      
        - 8 -

        
          

      

      2.9    Conditions to Delivery of Shares. The Shares deliverable hereunder, or any portion thereof, may be either previously authorized but unissued Shares or issued Shares
        which have then been reacquired by the Company. Such Shares shall be fully paid and non-assessable. The Company shall not be required to issue or deliver any Shares deliverable hereunder or portion thereof prior to fulfillment of all of the
        following conditions:

      

      

      (a)    The admission of such Shares to listing on all stock exchanges on which such Shares are then listed;

      

      

      (b)    The completion of any registration or other qualification of such Shares under any applicable law, rule or regulation, which the Administrator shall, in its absolute
        discretion, deem necessary or advisable;

      

      

      (c)    The obtaining of any approval or other clearance from any local, state, federal or foreign governmental agency which the Administrator shall, in its absolute discretion,
        determine to be necessary or advisable;

      

      

      (d)    The receipt by the Company, the Employer or the Trustee of any Tax-Related Items required to be withheld by the Company or any affiliate thereof, as further described in
        Section 2.6 hereof; and

      

      

      (e)    The lapse of such reasonable period of time following the vesting of any Restricted Share Units as the Administrator may from time to time establish for reasons of
        administrative convenience.

      

      

      ARTICLE III

       

        

      OTHER PROVISIONS

      

      

      3.1    Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and
        application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules, as further set out in Section 3 to the Plan. All actions taken and all interpretations and determinations made by the Administrator in good faith
        shall be final and binding upon the Participant, the Company and all other interested persons. No member of the Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan,
        this Agreement, the RSUs or the Shares.

      

      

      3.2     Adjustments upon Specified Events. The Administrator may accelerate payment and vesting of the Restricted Share Units in such circumstances as it, in its sole
        discretion, may determine; provided, however, such acceleration is only permitted to the extent it does not trigger a violation of Section 409A. In addition, upon the occurrence of certain events relating to the Shares contemplated by Section 10.1
        of the Plan, the Administrator shall make such adjustments the Administrator deems appropriate in the number of Restricted Share Units then outstanding and the number and kind of securities that may be issued in respect of the Restricted Share
        Units. The Participant acknowledges that the RSUs are subject to modification and termination in certain events as provided in this Agreement and the Plan.

      

      

      3.3    Grant is Not Transferable. During the lifetime of the Participant, this grant and the rights and privileges conferred hereby will not be transferred, assigned,
        pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of the
        RSUs, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, the RSUs and the rights and privileges conferred hereby immediately will become null and void. Notwithstanding anything
        herein to the contrary, this Section 3.3 shall not prevent transfers by will or applicable laws of descent and distribution.

      

      

      
        - 9 -

        
          

      

      3.4    Binding Agreement. Subject to the limitation on the transferability of the RSUs contained herein, this Agreement will be binding upon and inure to the benefit of
        the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

      

      

      3.5    Notices. Any notice to be given under the terms of this Agreement to the Company shall be addressed to InMode Ltd., Tavor Building, Sha'ar Yokneam, P.O. Box 533,
        Yokneam 2069206, Israel, Attention: Chief Financial Officer, or such other address as the Company may from time to time specify. All notices to be given to the Participant shall be addressed to the Participant at the Participant's address in the
        Company's records.

      

      

      3.6    Titles. Titles provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

      

      

      3.7    Governing Law; Severability. The laws of the State of Israel shall govern the interpretation, validity, administration, enforcement and performance of the terms of
        this Agreement regardless of the law that might be applied under principles of conflict of laws. The Participant may only exercise his or her rights in respect of the Plan, this Agreement and these RSUs to the extent that it would be lawful to do
        so, and the Company would not, in connection with this Agreement, be in breach of the laws of any jurisdiction to which the Participant may be subject. The Participant shall be solely responsible to seek advice as to the laws of any jurisdiction to
        which he or she may be subject, and participation in the Plan by the Participant shall be on the basis of a warranty by the Participant that the Participant may lawfully so participate without the Participant being in breach of the laws of any such
        jurisdiction. In addition, the provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and
        enforceable.

      

      

      3.8    Conformity to Securities Laws. Participant acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the
        U.S. Securities Act of 1933, as amended, and all rules and regulations promulgated thereunder (the “Securities Act”) and the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”) and any and all regulations and rules promulgated by the U.S. Securities and Exchange Commission thereunder and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be
        administered, and the RSUs are granted, only in such a manner as to conform to such laws, rules and regulations, and the Company is under no obligation to register or qualify the Shares with any state, federal or foreign securities commission or to
        seek approval or clearance from any governmental authority for the issuance or sale of the Shares. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules
        and regulations.

      

      

      3.9    Amendments, Suspension and Termination. To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or
        terminated at any time or from time to time by the Administrator, provided, however, that, except as may otherwise be provided by the Plan and this Agreement, no amendment, modification, suspension or
        termination of this Agreement shall adversely effect the RSUs in any material way without the prior written consent of the Participant.

      

      

      3.10    Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the
        benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth in Sections 3.2 and 3.3 hereof, this Agreement shall be binding upon the Participant and his or her heirs, executors, administrators,
        successors and assigns.

      

      

      
        - 10 -

        
          

      

      3.11    Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if the Participant is subject to Section 16 of the
        Exchange Act, the Plan, the RSUs and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are
        requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Company shall have unilateral authority to amend this Agreement without the Participant’s consent to the extent necessary to comply with Section
        16 of the Exchange Act, including any such applicable exemptive rule.

      

      

      3.12    Not a Contract of Employment. Nothing in this Agreement or in the Plan shall confer upon the Participant any right to continue to serve as an employee, director,
        consultant, contractor or other service provider of the Company or any affiliate thereof, or be interpreted as forming or amending an employment or service contract with the Company or any affiliate thereof and shall not interfere with or restrict
        in any way the rights of the Company and its affiliates, which rights are hereby expressly reserved, to discharge or terminate the services of the Participant at any time for any reason whatsoever, with or without cause, except to the extent
        expressly provided otherwise in a written agreement between the Company or an affiliate thereof and the Participant.

      

      

      3.13    Entire Agreement. The Plan, the Grant Notice and this Agreement (including all Exhibits thereto) constitute the entire agreement of the parties and supersede in
        their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject matter hereof.

      

      

      3.14    Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a
        contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a
        general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the RSUs, and rights no greater than the right to receive the Shares as a general unsecured creditor with respect to RSUs, as
        and when payable hereunder.

      

      

      3.15    Nature of Grant. In accepting the grant of RSUs, the Participant acknowledges, understands and agrees that:

      

      

      	

            	(a)	
              the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;

            

      

      

      	

            	(b)   	
              the grant of the RSUs is exceptional, voluntary and occasional and does not create any contractual or other right to receive future grants of restricted share units or other type of Awards, or benefits in lieu of restricted share units,
                even if RSUs or other type of Awards have been granted in the past;

            

       

      	

            	(c)    	
              all decisions with respect to future restricted share units or other grants, if any, will be at the sole discretion of the Company;

            

      

      

      
        - 11 -

        
          

      

      	

            	(d)	
              the Participant is voluntarily participating in the Plan;

            

      

      

      	

            	(e)	
              the RSUs and any Shares underlying the RSUs, and the income from and value of same, are not intended to replace any pension rights;

            

      

      

      	

            	(f)	
              unless otherwise agreed with the Company, the RSUs and the Shares underlying the RSUs, and the income from and value of same, are not granted as consideration for, or in connection with, the service the Participant may provide as a
                director of an affiliate;

            

      

      

      	

            	(g)	
              the RSUs and any Shares underlying the RSUs, and the income from and value of same, are not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination,
                redundancy, dismissal, end-of-service payments, bonuses, long-service awards, holiday pay, pension or retirement or welfare benefits or similar payments;

            

      

      

      	

            	(h)	
              the future value of the Shares underlying the RSUs is unknown, indeterminable, and cannot be predicted with certainty;

            

      

      

      	

            	(i)	
              no claim or entitlement to compensation or damages shall arise from forfeiture of the RSUs resulting from the termination of the Participant’s employment or service relationship (for any reason whatsoever, whether or not later found to
                be invalid or in breach of employment laws in the jurisdiction where the Participant is employed or the terms of the Participant’s employment agreement, if any);

            

      

      

      	

            	(j)	
              for purposes of the RSUs, the Participant's right to vest in the RSUs under the Plan, if any, will terminate as of the date of the Participant’s Termination of Services (regardless of the reason for such termination and whether or not
                later found to be invalid or in breach of employment laws in the jurisdiction where the Participant is employed or providing services or the terms of Participant’s employment or service agreement, if any). The Administrator shall have the
                exclusive discretion to determine when the Participant has a Termination of Service for purposes of the RSUs (including whether the Participant may still be considered to be providing services while on a leave of absence); and

            

      

      

      	

            	(k)	
              neither the Company, the Employer nor any affiliate thereof shall be liable for any foreign exchange rate fluctuation between the Participant’s local currency and the United States Dollar that may affect the value of the RSUs or of any
                amounts due to the Participant pursuant to the payment of the RSUs or the subsequent sale of any Shares acquired upon settlement.

            

       

      

      3.16    Data Privacy.

       

      

      	

            	(a)    	
              Data Collection and Usage. The Company and the Employer may collect, process and use certain personal information about the Participant, including, the Participant’s name, home address and telephone number, email address, date of
                birth, social insurance number, passport or other identification number, salary, bank account details, nationality, job title, any shares of stock or directorships held in the Company, details of all Restricted Share Units or any other
                entitlement to shares of stock awarded, canceled, exercised, vested, unvested or outstanding in the Participant’s favor (“Data”), for the purposes of implementing, administering and managing the Plan.
                The legal basis, where required, for the processing of Data is the Participant’s consent.

            

      

      

      
        - 12 -

        
          

      

      	

            	(b)	
              Share Plan Administration Service Providers. The Company transfers Data to Altshuler Shaham Trusts Ltd., and its affiliated companies (“Altshuler”), an independent service provider based in
                Israel, which is assisting the Company with the implementation, administration and management of the Plan. In the future, the Company may select a different service provider and share Data with such other provider serving in a similar
                manner. The Participant may be asked to agree on separate terms and data processing practices with the service provider, with such agreement being a condition to the ability to participate in the Plan.

            

      

      

      	

            	(c)	
              International Data Transfers. The Company and its service providers are based in Israel and the United States. The Participant’s country or jurisdiction may have different data privacy laws and protections than Israel and the
                United States. The Company's legal basis, where required, for the transfer of Data is Participant’s consent.

            

      

      

      	

            	(d)	
              Data Retention. The Company will hold and use the Data only as long as is necessary to implement, administer and manage the Participant’s participation in the Plan, including any required transfer of such Data to a broker, escrow
                agent or other third party with whom the Shares may be deposited, or as required to comply with legal or regulatory obligations, including under tax and security laws.

            

      

      

      	

            	(e)	
              Voluntariness and Consequences of Consent Denial or Withdrawal. Participation in the Plan is voluntary and the Participant is providing the consents herein on a purely voluntary basis. If the Participant does not consent, or if
                the Participant later seeks to revoke the Participant’s consent, the Participant’s salary from or employment and career with the Employer will not be affected; the only consequence of refusing or withdrawing the Participant’s consent is
                that the Company would not be able to grant this Award or other Awards to the Participant or administer or maintain such Awards.

            

      

      

      By accepting the Award, the Participant is declaring that he or she agrees with the data processing practices described herein and consents to the collection, processing and use
        of Data by the Company and the transfer of Data to the recipients mentioned above, including recipients located in countries which may not have the same level of protection as the Participant’s country, for the purposes described above.

      

      

      Finally, the Participant understands that the Company may rely on a different legal basis for the processing or transfer of Data in the future and/or request that the Participant
        provide another data privacy consent form. If applicable and upon request of the Company, the Participant agrees to provide an executed acknowledgement or data privacy consent form to the Employer or the Company (or any other acknowledgements,
        agreements or consents that may be required by the Employer or the Company) that the Company and/or the Employer may deem necessary to obtain under the data privacy laws in the Participant’s country, either now or in the future. The Participant
        understands that he or she will not be able to participate in the Plan if he or she fails to execute any such acknowledgement, agreement or consent requested by the Company and/or the Employer.

      

      

      
        - 13 -

        
          

      

      3.17     Language. The Participant acknowledges that he or she is proficient in the English language, or has consulted with an advisor who is sufficiently proficient in
        English, so as to allow the Participant to understand the terms and conditions of this Agreement. If the Participant has received this Agreement, or any other documents related to the RSUs and/or the Plan translated into a language other than
        English and if the meaning of the translated version is different than the English version, the English version will control.

      

      

      3.18    Insider Trading Restrictions / Market Abuse Laws. The Participant may be subject to insider trading restrictions and/or market abuse laws in applicable
        jurisdictions, including, but not limited to, the United States and the Participant’s country, which may affect the Participant’s ability to accept, acquire, sell or otherwise dispose of Shares, rights to Shares (e.g.,
        RSUs) or rights linked to the value of Shares under the Plan during such times as the Participant is considered to have “inside information” regarding the Company (as defined by the laws in the applicable jurisdictions). Any restrictions under
        these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Company insider trading policy. Neither the Company nor any affiliate thereof will be responsible for such restrictions or
        liable for the failure on the Participant’s part to know and abide by such restrictions. The Participant should consult with his or her own personal legal advisers to ensure compliance with applicable laws.

      

      

      3.19    Foreign Asset / Account and Exchange Control Requirements. Depending on the Participant’s country, the Participant may be subject to foreign asset/account and/or
        exchange control reporting or other requirements which may affect the Participant’s ability to acquire or hold RSUs or Shares under the Plan or cash received from participating in the Plan in a brokerage or bank account outside the Participant’s
        country. The Participant may be required to report such RSUs, Shares, accounts, assets or transactions to the tax or other authorities in his or her country and/or repatriate funds received in connection with the Plan to the Participant's country
        within a certain time period or according to certain procedures. The Participant acknowledges that it is his or her responsibility to comply with any applicable requirements, and that the Participant should consult his or her own personal tax and
        legal advisors to ensure compliance with applicable laws.

      

      

      3.20    Electronic Delivery, Acceptance and Participation. The Company may, in its sole discretion, decide to deliver any documents related to current or future
        participation in the Plan by electronic means and the Participant hereby consents to receive such documents by electronic delivery. The Participant agrees that his or her electronic acceptance of the Award through the Company’s online acceptance
        procedure constitutes his or her acceptance of the Award and further agrees to participate in the Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company.

      

      

      3.21    Clawback Policy. To the extent this Award is subject to recovery under any law, government regulation, stock exchange listing requirement or Company agreement or
        policy, this Award will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement (or any agreement or policy adopted by the Company pursuant to any
        such law, government regulation, stock exchange listing requirement or otherwise).

      

      

      
        - 14 -

        
          

      

      3.22   Imposition of Other Requirements. The Company reserves the right to impose other requirements on the Participant’s participation in the Plan, on the RSUs and on
        any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to
        accomplish the foregoing.

      

      

      3.23    Waiver. The Participant acknowledges that a waiver by the Company of breach of any provision of this Agreement shall not operate or be construed as a waiver of any
        other provision of this Agreement, or of any subsequent breach by the Participant or any other Participant.

      

      

      **************************

      

      

      
        - 15 -

        
          

      

      EXHIBIT C

       

      

      TO RESTRICTED SHARE UNIT AWARD GRANT NOTICE

       

      TRUST AGREEMENT

      

      

    

  

  - 16 -

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