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Exhibit 4.3
NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK PURCHASABLE UPON EXERCISE HEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS. BY ACQUIRING THIS WARRANT, THE WARRANTHOLDER REPRESENTS THAT THE WARRANTHOLDER WILL NOT SELL OR OTHERWISE DISPOSE OF THIS WARRANT OR THE SHARES PURCHASABLE UPON EXERCISE HEREOF WITHOUT REGISTRATION OR OTHER COMPLIANCE WITH THE AFORESAID ACTS AND THE RULES AND REGULATIONS THEREUNDER.
						
	Warrant No.	Issuance Date: [_____]
	Warrant Holder: Liminal BioSciences Inc.	

OCUGEN, INC.
FORM OF COMMON STOCK PURCHASE WARRANT
1.Issuance of Warrant
1.1    Number of Shares Subject to Warrant. Subject to the terms and conditions herein set forth, Liminal BioSciences Inc. (the “Warrantholder”) is entitled to purchase from Ocugen, Inc. (the “Company”), a Delaware corporation, an aggregate of [____] fully paid and non-assessable shares (which number of shares is subject to adjustment as described below) (the “Shares”) of the Company’s Common Stock, $0.01 par value per share (the “Common Stock”), upon surrender of this Warrant to the Company prior to the Expiration Date (as defined below) and upon payment of the Purchase Price (as defined below). This Warrant is being issued to the Warrantholder as consideration for and pursuant to that certain Letter of Intent to Purchase Commercial Real Estate (“LOI”), dated as of January 24, 2022, by and between the Company and the Warrantholder. All capitalized terms used herein but not otherwise defined shall have the meanings assigned to such terms in the LOI (which meanings shall survive the termination of the LOI).
1.2.    Expiration Date. This Warrant shall terminate at the earlier to occur of (a) 5:00 p.m., Eastern Time, on [____]; (b) the date of termination of the LOI, if the LOI is terminated pursuant to any of Sections 13(A) – (D) of the LOI; (c) receipt of written notice (including by e-mail ) by the Warrantholder from the Company that the Warrant is being canceled because the Closing (as defined in the LOI) has not occurred and is not occurring for any reason whether the LOI is still in effect or the Warrantholder and Company (or affiliates thereof) have entered into the Contract (as defined in the LOI); or (d) 5:00 p.m., Eastern Time, on the day preceding the first closing of any consolidation or merger of the Company with or into any other corporation or other entity or person, or any other corporate reorganization, in which the shareholders of the Company immediately prior to such consolidation, merger or reorganization, hold less than 50% of the resulting or surviving corporation’s voting power immediately after such consolidation, merger or reorganization (solely in respect of their equity interests in this Company), the sale, lease, or other disposition of all or substantially all of the assets or business of the Company (other than to a parent, subsidiary or otherwise in a transaction for the purpose of a corporate reorganization rather than a bona fide sale), or the transfer by shareholders of the Company (in one or a series of related transactions) to one person or entity or group of related persons and/or entities of shares constituting not less than a majority of the outstanding voting capital stock of the Company except to the extent any merger or reorganization for the sole purpose of changing the state of incorporation of the Company or for other internal restructuring purposes (such earlier date being hereinafter referred to as the “Expiration Date”). The Company shall notify the Warrantholder, at least fifteen (15) days before the first closing of any of the events specified in clause (d) above, of the proposed date of such closing. The Company shall not be required to deliver an additional notice if the date of the closing is thereafter delayed. 
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1.3    Purchase Price. This Warrant is exercisable in whole or in part at an exercise price per share equal to $[____] (such price from time to time subject to adjustment in accordance with Section 2 hereof, and, as such price may from time to time be so adjusted, hereinafter called the “Purchase Price”).
2.Adjustments.
2.1.    Stock Split, Subdivision or Combination of Common Stock or Stock Dividend.
(a)    Stock Split, Subdivision or Combination. In the event that the Company, at any time or from time to time while this Warrant is outstanding, shall split, subdivide or combine its Common Stock (by reclassification or otherwise than by payment of a dividend in Common Stock), the number of Shares subject to purchase under this Warrant (i) shall be proportionately increased and the Purchase Price shall be proportionately decreased, in case of a split or subdivision of Common Stock, as of the effective date of such stock split or subdivision, or, if the Company shall take a record of the holders of its Common Stock for the purpose of so splitting or subdividing, as at such record date, whichever is earlier; or (ii) shall be proportionately decreased and the Purchase Price per Share shall be proportionately increased, in the case of a combination of Common Stock, as at the effective date of such combination or, if the Company shall take a record of holders of its Common Stock for the purpose of so combining, as at such record date, whichever is earlier.
(b)    Stock Dividends. In the event that the Company, at any time or from time to time while this Warrant is outstanding, shall pay a dividend payable in, or make any other distribution (except any distribution specifically provided for in Section 2.1(a) hereof) in the nature of a dividend of Common Stock, then the Purchase Price shall be adjusted, from and after the date of determination of shareholder entitled to receive such dividend or distribution, to that price determined by multiplying the Purchase Price in effect immediately prior to such date of determination by a fraction, the numerator of which shall be the total number of shares of Common Stock outstanding immediately prior to such dividend or distribution, and the denominator of which shall be the total number of shares of Common Stock outstanding immediately after such dividend or distribution. The Warrantholder shall thereafter be entitled to purchase, at the Purchase Price resulting from such adjustment, the number of shares of Common Stock (calculated to the nearest whole share) obtained by multiplying the Purchase Price in effect immediately prior to such adjustment by the number of shares of Common Stock issuable upon the exercise hereof immediately prior to such adjustment, and dividing the product so obtained by the Purchase Price resulting from such adjustment.
2.2.    Asset or Capital Dividend. In the event that the Company, at any time or from time to time while this Warrant is outstanding and the Vesting Date has occurred, shall make a distribution of its assets to the holders of its Common Stock as a dividend in liquidation or partial liquidation or as a return of capital other than as a dividend payable out of funds legally available for dividends under the laws of the Commonwealth of Pennsylvania, the Company shall promptly thereafter provide written notice of such to the Warrantholder in accordance with Section 10 below. In such event, the Warrantholder shall, upon exercise and payment of the Purchase Price within fourteen (14) business days after notification from the Company, be entitled to receive, in addition to the number of Shares receivable thereupon, and without payment of any additional consideration therefor, a sum equal to the amount of such assets as would have been payable to the Warrantholder had the Warrantholder been the holder of record of such Shares on the record date for such distribution; and an appropriate provision therefor shall be made for the Warrantholder to be made a party to any such distribution.
2.3.    Adjustments for Consolidation, Merger, Sale of Assets, Reorganization or Reclassification. In the event that the Company, at any time or from time to time while this Warrant is outstanding, (a) shall consolidate with or merge into any other entity and shall not be the continuing or surviving corporation of such consolidation or merger; (b) shall permit any other entity to consolidate with or merge into the Company and the Company shall be the continuing or surviving entity but, in connection with such consolidation or merger, the Common Stock shall be changed into or exchanged for capital stock or other securities or property of any other entity; or (c) shall effect a capital reorganization or reclassification of the Common Stock (other than one deemed to result in the issue of additional Common Stock), then, unless this Warrant has expired in accordance with Section 1.2. in each such event, lawful provision shall be made so that the Warrantholder shall be entitled to receive upon the exercise hereof at any 
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time after the consummation of such consolidation, merger, transfer, reorganization or reclassification, in lieu of the Shares issuable upon exercise of this Warrant prior to such consummation, the capital stock and other securities and property to which the Warrantholder would have been entitled upon such consummation if the Warrantholder had exercised this Warrant immediately prior thereto.
2.4.    Certificate of Adjustment. The Company shall, within a reasonable time period after written request at any time by the Warrantholder, furnish or cause to be furnished to the Warrantholder a certificate setting forth adjustments of the Purchase Price and of the number of Shares issuable upon exercise of this Warrant and the amount, if any, of other property at the time receivable upon the exercise of this Warrant.
2.5.    No Other Adjustment. The number of Shares for which this Warrant is exercisable and the Purchase Price shall not be adjusted except in the manner and upon the terms and conditions set forth in Section 2 of this Warrant.
3.No Fractional Shares. No fractional Shares will be issued in connection with any exercise hereof. In lieu of any fractional Shares which would otherwise be issuable, the Company shall pay cash on the basis of the Purchase Price then in effect.
4.No Shareholder Rights. This Warrant shall not entitle the Warrantholder to any of the rights of a shareholder of the Company.
5.Reservation of Shares. The Company covenants that the Shares of Common Stock issuable upon the exercise of this Warrant have been duly authorized and reserved and, when issued and paid for, will be validly issued, fully paid and non-assessable. The issuance of this Warrant shall constitute full authority to those officers of the Company who are charged with the duty of causing the Company’s transfer agent (the “Transfer Agent”) to complete the necessary book-entry in the Company’s records to evidence the issuance of the Shares to Warrantholder upon the exercise of this Warrant.
6.Registration. The Company may, in its sole discretion, register the Shares. If all or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the issuance or resale of the Shares, such Shares shall be issued free of all legends. If no such registration statement is in effect, then upon exercise of the Warrant, the Company shall use commercially reasonable efforts to cause an appropriate registration statement under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities Act”), covering the issuance of Shares to the Warrantholder, to be filed and become and remain effective until the earlier of (i) such time as this Warrant shall have been exercised in full and (ii) the Expiration Date.
7.Exercise of Warrant.
7.1.    Exercisability. The exercisability of this Warrant shall be dependent on consummation of the Closing and subject to adjustment pursuant to Section 2 hereof. This Warrant shall become exercisable prior to the Expiration Date on the date of the Closing of the transactions described in the LOI, and in accordance with the Contract (the “Vesting Date”).
7.2    Time and Manner of Exercise. This Warrant may be exercised at any time or from time to time on or after the Vesting Date, but in no event later than the Expiration Date. In order to exercise this Warrant, in whole or in part, the Warrantholder shall deliver to the Company by electronic mail to all of the e-mail addresses set forth in Section 10 hereof: (a) a written notice in the form of Annex A hereto of the Warrantholder’s election to exercise this Warrant, specifying the number of Shares to be purchased; (b) a wire transfer or a certified or official bank check or checks payable to the order of the Company in an amount equal to the product of the Purchase Price and the number of Shares to be purchased at such time pursuant to the Warrant; and (c) this Warrant. Upon receipt of such items, the Company shall, as promptly as practicable verify the existence of the occurrence of the Vesting Date, and upon such verification, within five (5) business days thereafter, cause the Company’s Transfer Agent to complete a book-entry in the Company’s records for the number of Shares so purchased in the name of the Warrantholder. This Warrant shall be deemed to have been exercised and the Shares shall be deemed to have been 
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issued, and the Warrantholder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date that the items listed in clauses (a) through (c) above are received by the Company as aforesaid. If this Warrant shall have been exercised in part, the Company shall deliver to the Warrantholder a new Warrant evidencing the rights of the Warrantholder to purchase the unpurchased Shares, or such other securities as may become subject to the right to purchase by the Warrantholder under the terms hereof, which new Warrant shall in all other respects be identical to this Warrant other than reference to the vesting of Shares.
7.3.    Payment of Taxes and Expenses. All Shares issuable upon the exercise of this Warrant shall be validly issued, fully paid and non-assessable, and the Company shall pay all expenses in connection with, and all taxes and other governmental charges that may be imposed in respect of, the issue or delivery thereof, other than any federal, state or local income tax or other tax based upon gross or net income, owed by the Warrantholder on account of such issuance or delivery. The Company shall not be required, however, to pay any tax or other charge imposed in connection with any transfer involved in the issuance of Shares in any name other than that of the registered Warrantholder, and in such case the Company shall not be required to cause the Transfer Agent to complete the book-entry in the Company’s records until such tax or other charge has been paid or it has been established to the Company’s reasonable satisfaction that no such tax or other charge is due.
8.Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity agreement or security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, upon surrender and cancellation of such Warrant, the Company, at the expense of the Warrantholder, will execute and deliver, in lieu thereof, a new Warrant.
9.Transfer of Warrant. This Warrant and all rights hereunder are not transferable unless the Warrantholder obtains the written consent of the Company. Upon the Company’s written consent and surrender of this Warrant properly endorsed; the Warrant may be transferred provided that: (a) such transfer must be effected in accordance with applicable securities laws and (b) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of the transferee. Upon surrender of this Warrant, the Company, at the expense of the transferee or transferor hereof, as the transferee and transferor may decide between themselves, will issue and deliver to, on the order of the transferee, a new Warrant in the name of such transferee or as such transferee (on payment by such transferee of any applicable transfer taxes) may direct, calling in the aggregate on the face thereof for the number of Shares called for on the face of this Warrant upon surrender. Each taker and holder of this Warrant, by taking or holding the same, consents and agrees that this Warrant, when so endorsed in blank, shall be deemed negotiable, and, when so endorsed such holder hereof may be treated by the Company and all other persons dealing with this Warrant as the absolute owner hereof for any purposes and as the person entitled to exercise the rights represented by this Warrant, or to the transfer hereof on the books of the Company, any notice to the contrary notwithstanding; but until each such transfer on such books, the Company may treat the registered holder hereof as the owner hereof for all purposes. Any attempted assignment in violation of this Section 9 shall be null and void.
10.Notices. All notices required or permitted hereunder shall be in writing and sent via electronic mail to all of the e-mail addresses provided below. Written notices shall be deemed effectively given at the time the electronic mail is sent.
						
	If to the Company, to:	
		
	Ocugen, Inc.	
	263 Great Valley Parkway	
	Malvern, PA 19355	
	Attn: Shankar Musunuri	
	E-mail: [____]	

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	With a copy to:	
		
	Troutman Pepper Hamilton Sanders LLP	
	3000 Two Logan Square	
	Eighteenth and Arch Streets	
	Philadelphia, PA 19103	
	Attn: Rachael Bushey	
	E-mail: [____]	

						
	If to the Warrantholder, to:	
		
	Liminal BioSciences Inc.	
	440 Boulevard Armand-Frappier #300	
	Laval, QC H7V 4B4	
	Attn: Marie Iskra	
	E-mail: [____]	

11.Miscellaneous. This Warrant shall be governed by the laws of the State of Delaware. The headings in this Warrant are for purposes of convenience and reference only and shall not be deemed to constitute a part hereof. Neither this Warrant nor any term hereof may be changed, waived, discharged or terminated orally but only by an instrument in writing signed by the Company and the registered Warrantholder. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision hereof.

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IN WITNESS WHEREOF, the Company has executed and issued this Warrant as of the date first above written.
												
			OCUGEN, INC.
				
			By:	
				Shankar Musunuri
			Title: Chairman and Chief Executive Officer

[Signature page to Form of Common Stock Purchase Warrant]

Annex A
Ocugen, Inc.
Common Stock Purchase Warrant
EXERCISE NOTICE
To: Ocugen, Inc.
    The undersigned, the holder of Warrant No. _______ (the “Warrant”) to purchase an aggregate of _______ shares of common stock, par value $0.01 per share (“Warrant Shares”), of Ocugen, Inc. (the “Company”), by and among the Company for a Purchase Price of $_______ per share, hereby irrevocably elects to exercise the purchase right represented by such Warrant for, and to purchase thereunder, _________ Warrant Shares. Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

1.Payment of Purchase Price. The Warrantholder shall tender payment of $_________ in full payment of the aggregate Purchase Price for such shares.

2.Delivery of Warrant Shares. Ocugen, Inc. shall deliver to the Warrantholder _________ Warrant Shares in accordance with the terms of the Warrant and pursuant to the broker instructions provided below.

Transfer Agent Instructions. Delivery of the Warrant Shares shall be made to:

						
	Brokerage/Financial Institution	
	Brokerage/Financial Institution Address	
	Brokerage/Financial Institution Account No.	
	Brokerage/Financial Institution Contact (Name and Phone Number)	
	Account Name	
	Type of Account	
	Account Number	
	Tax ID Number	
	DRS Account Number	

Additional forms or information may be required by the Company’s transfer agent in order to deliver the Warrant Shares.

															
	Date:			By:	
					Signature of Warrantholder
					
				
				Name of Warrantholder (Please Print)
					
				
				TitleDocument

SEPARATION AGREEMENT
This SEPARATION AGREEMENT (this “Agreement”), dated as of January 25, 2022 (the “Effective Date”), is entered into by and between Lisa Krueger (“Employee”), and The AES Corporation (the “Company”).
W I T N E S S E T H
WHEREAS, Employee is a participant in The AES Corporation Amended and Restated Executive Severance Plan (the “Severance Plan”), with all capitalized terms not defined herein having the meanings ascribed to such terms in the Severance Plan;
WHEREAS, on the Effective Date of this Separation Agreement, the Company and Employee determined that Employee would depart from the position of Executive Vice President & President, U.S. & Utilities SBU of the Company and assume the position of Senior Advisor (“Advisor”) to the Chief Executive Officer, effective on January 26, 2022;
WHEREAS, on the Effective Date, Employee is deemed to have terminated from the position of Executive Vice President & President, U.S. & Utilities SBU and remained employed by AES in the position of Advisor; 
WHEREAS, on March 31, 2022 (the “Resignation Date”), Employee’s services in the position of Advisor will cease and, effective no later than the Resignation Date, Employee voluntarily will resign from (i) all other officer positions that she has with or through the Company and its Subsidiaries and (ii) the boards of directors of any Subsidiaries of the Company on which she serves (for purposes of clarity including, without limitation, the Board of Directors of IPALCO Enterprises, Inc.), other than her service as a member of the Board of Directors of Fluence Energy, Inc. (the “Fluence Board”); and
WHEREAS, Employee will Separate from Service with the Company and all of its Subsidiaries, effective on the Resignation Date, which Separation from Service shall be deemed a Termination by Mutual Consent pursuant to the terms of the Severance Plan.
NOW, THEREFORE, in consideration of the premises, representations, covenants and obligations herein contained, the Company and Employee hereby agree as follows:
1. Immediate Reassignment and Subsequent Separation.
(a) As of the Effective Date, (i) Employee shall no longer serve as the Executive Vice President, & President, U.S. & Utilities SBU, (ii) as of the Resignation Date, Employee shall no longer serve as Advisor, and (iii) no later than the Resignation Date otherwise serve as (A) an Employee or officer of the Company or (B) an Employee, officer or director of any Subsidiary (for purposes of clarity including, without limitation, the Board of Directors of IPALCO Enterprises, Inc.), other than the Fluence Board. 
(b) Effective as of the Resignation Date, Employee shall have a Separation from Service and terminate employment as an Employee of the Company and each of its Subsidiaries, if her employment was not earlier terminated by the Company or by reason of her death or Disability. During the period between the Effective Date and the Resignation Date, Employee will not be expected to report to any facility or location of the Company, but will assist the Company as may be reasonably requested by the Company’s Chief Executive Officer or such other Company officer as he so designates.
(c) Employee shall not hold herself out in any manner inconsistent with the foregoing provisions of this Section 1.
2. Separation Payments and Benefits.
(a) Provided that (i) Employee adheres to the terms of this Agreement, including, without limitation, remaining employed with the Company and its Subsidiaries through the Resignation Date, (ii) Employee executes a General Release and Waiver of Claims attached hereto as Exhibit A (“Release Agreement”) contemporaneous with her Resignation Date and does not revoke her acceptance of the terms of the Release Agreement within seven (7) days after executing the Release Agreement, and (iii) on or before the Resignation Date, Employee commits no action that would justify the termination of her employment 

for Cause, Employee’s Separation From Service on the Resignation Date shall be deemed an Involuntary Termination as a Termination by Mutual Consent as defined in Article I of the Severance Plan, and upon such Separation From Service, Employee shall be entitled to the applicable payments and benefits set forth in Article IV and Appendix B of the Severance Plan, which benefits and payments shall be made on or after the Resignation Date in accordance with Appendix B of the Severance Plan, less applicable taxes and deductions. For the avoidance of doubt, except as expressly provided herein, the Company’s obligation to provide such payments and benefits shall be made in accordance with, and subject to, Employee’s compliance with, and adherence to, the terms and conditions of the Severance Plan, including, without limitation, Article III and Article V thereof. Employee expressly agrees and acknowledges that the Company does not, and will not, have any obligation to provide her at any time in the future with any payments, benefits, or consideration other than those recited herein or required by law, other than under the terms of any benefit plans of the Company that provide benefits or payments to former employees according to their terms.
(b) Notwithstanding any provision of this Agreement to the contrary, if any benefit provided under this Agreement is subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), and the regulations and rulings issued thereunder, the provisions of the Agreement will be administered, interpreted, and construed in a manner necessary to comply with Section 409A or an exception thereto (or disregarded to the extent such provision cannot be so administered, interpreted, or construed). With respect to payments subject to Section 409A, (i) it is intended that distribution events authorized under this Agreement qualify as permissible distribution events for purposes of Section 409A and (ii) the Company and the Employer reserve the right to accelerate and/or defer any payment to the extent permitted and consistent with Section 409A. Notwithstanding any provision of this Agreement to the contrary, in no event shall the Administrator, the Company, an Affiliated Employer or Subsidiary (or their employees, officers, directors or affiliates) have any liability to Employee (or any other person) due to the failure of the Severance Plan or this Agreement to satisfy the requirements of Section 409A or any other applicable law.
3. Company Policies. Employee hereby agrees to continue to comply with any and all Company policies applicable to Employee for so long as such policies continue to apply to Employee by their terms.
4. Company Equipment and Expense Reimbursement. Employee has or will return to the Company by the Resignation Date (and certify in the Release Agreement described in Section 5, below, that she has done so), all reports, files, memoranda, records, software, laptops, computer equipment, cellular phones, credit cards, cardkey passes, door and file keys, computer access codes or disks and instructional manuals, and other physical or personal property that Employee received in connection with her employment with the Company that Employee then has in her possession and Employee shall not retain any copies, duplicates, reproductions or excerpts thereof.
The Company will reimburse Employee in accordance with its existing policies for any legitimate expenses that Employee incurred on Company business prior to the Resignation Date. Employee must submit any such expense reimbursement requests within 14 days following the Resignation Date.
5. Express Condition Precedent: Execution of Release Agreement without Revocation.  Consistent with the terms of the Severance Plan, before the Company’s obligation to tender the post-resignation consideration described in Section 2(a) above is triggered, Employee must execute, contemporaneous with her Resignation Date, the Release Agreement and not revoke her acceptance of the terms of the Release Agreement during the revocation period described therein. 
6. Cooperation and Assistance. After her Resignation Date, Employee acknowledges and agrees to provide reasonable cooperation at mutually agreeable times and places to the Company and its affiliates in connection with matters with which Employee was involved, including, but not limited to, contract negotiations, investigations, the defense of any and all claims, which are asserted by any person or entity (other than Employee) concerning or related to any matter that arises out of events or occurrences during her involvement in the business and affairs of the Company and its affiliates, and Employee will be reimbursed for reasonable out of pocket expenses incurred in connection therewith. Employee hereby acknowledges that such cooperation may include making herself available, at the 

Company’s request, to provide interviews, deposition testimony, pretrial preparation and trial testimony, and to respond to requests for information from the Company’s and its affiliates’ counsel, government authorities and otherwise. Except as otherwise required pursuant to applicable law or court order, or as permitted under Article V of the Severance Plan, and in each such case, provided that Employee complies with the provisions of Article V of the Severance Plan, Employee further agrees to maintain in strict confidence any information or knowledge Employee has regarding Claims against the Company and its affiliates (except as otherwise permitted in Article V of the Severance Plan). Employee agrees to communicate with any party that is adverse to the Company and its affiliates, or with a representative, agent or legal counsel for any such claims, solely through legal counsel for the Company and its affiliates, although Employee may at her own expense retain her own counsel in connection with any such matter. 
7. Consultation with Attorney/Voluntary Agreement.
(a) Employee acknowledges that (i) the Company has advised Employee of her right to consult with an attorney of Employee’s own choosing prior to executing this Agreement, (ii) Employee has carefully read and fully understands all of the provisions of this Agreement, and (iii) Employee is entering into this Agreement knowingly, freely and voluntarily in exchange for good and valuable consideration, including without limitation the obligations of the Company under this Agreement. Employee further acknowledges that, in the absence of her execution of this Agreement and the Release Agreement without revocation, the post-termination payments and benefits specified in Section 2 hereof would not otherwise be due to her.
(b) Employee hereby acknowledges that the Company is providing Employee with Consideration to ease the impact of Employee’s Separation from Service with the Company. The fact that the Company is offering Consideration to Employee is not understood by Employee as, nor is it intended to be, an admission that the Company or any of its affiliates has violated Employee’s rights (or the rights of anyone else) in any manner whatsoever.
8. Assignment. This Agreement is personal to Employee and may not be assigned by Employee, but any benefit conveyed to Employee pursuant to this Agreement shall inure to the benefit of Employee and Employee’s heirs or beneficiaries. This Agreement is binding on, and will inure to the benefit of, the Company, the Released Parties and their respective successors and assigns.
9. Counterparts. This Agreement may be executed simultaneously in counterparts, each of which shall be an original, but all of which shall constitute but one and the same agreement. An emailed or faxed signature shall operate the same as an original signature.
10. Enforceability. In the event that any one or more of the provisions of this Agreement are held to be invalid, illegal or unenforceable, the remainder hereof shall be equitably interpreted to give the fullest effect to the intent of the parties.
11. No Oral Modification; No Waivers. This Agreement may not be changed orally, but may be changed only in a writing signed by a duly authorized representative of the Company and Employee. The failure of the Company or Employee to enforce any of the terms, provisions or covenants of this Agreement will not be construed as a waiver of the same or of the right of the Company or Employee to enforce the same. Waiver by the Company or Employee of any breach or default by another party to this Agreement of any term or provision of this Agreement will not operate as a waiver of any other breach or default.
12. Entire Agreement and Third-Party Beneficiaries. This Agreement, together with the Severance Plan, sets forth the entire understanding between the Company and Employee, and supersedes all prior agreements, representations, discussions, negotiations and understandings, concerning the subject matter addressed herein. The Company and Employee represent that, in executing this Agreement, each party has not relied upon any representation or statement made by the other party, other than those set forth herein and in the Severance Plan, with regard to the subject matter, basis or effect of this Agreement. Each Subsidiary of the Company is an intended third-party beneficiary of this Agreement.

13.   Breach of Agreement. In the event that Employee breaches any of her obligations under this Agreement, including but not limited to the provisions of Sections 1, 2, 3, 4, 5, 6, and 15 hereof and/or Article V of the Severance Plan, or as otherwise imposed by law, the Company will be entitled to the relief provided under the Severance Plan and this Agreement, including, but not limited to, Section 5(b) hereof, and to obtain all other relief provided by law or equity.

14. Governing Law. This Agreement shall be governed by the laws of the Commonwealth of Virginia and Employee hereby submits to and agrees that the exclusive jurisdiction for any suit, action or proceeding involving this Agreement will be any federal or state court located in the Commonwealth of Virginia.
15. Acknowledgement. Employee acknowledges and agrees that she (i) has not been forced or pressured in any manner whatsoever to sign this Agreement; (ii) has agreed to all of its terms voluntarily; (iii) has read this Agreement in its entirety and understands the terms of the Agreement; and (iv) has been given a reasonable period from the receipt of this Agreement to consider all of its terms and to consult with counsel of her choice. Employee is bound once she signs this Agreement.  Company’s post-termination obligations are not triggered unless and until Employee satisfies the express condition precedent of executing and not revoking the Release Agreement.
IN WITNESS WHEREOF, the Company and Employee have executed this Agreement as of the date first set forth above.
									
			
	
	Lisa Krueger
	/s/ Lisa Krueger
	
	THE AES CORPORATION
	
	/s/ Tish Mendoza
	Name:		Tish Mendoza
	Title:		Executive Vice President and Chief Human Resources Officer
			
		
	Dated:		1/25/2022

EXHIBIT A
GENERAL RELEASE AND WAIVER OF CLAIMS
This GENERAL RELEASE AND WAIVER OF CLAIMS (this “Release Agreement”), dated as of [March 31], 2022 (the “Effective Date”), is entered into by and between Lisa Krueger (“Employee”), and The AES Corporation (the “Company”).
1. Separation.
The parties previously agreed that, as of the Effective Date of this Release Agreement: 
(a) Employee shall no longer serve as Advisor or otherwise as (i) an Employee or officer of the Company or (ii) an Employee, officer or director of any Subsidiary (for purposes of clarity including, without limitation, the Board of Directors of IPALCO Enterprises, Inc.) other than as a member of the Board of Directors of Fluence Energy, Inc. 
(b) Employee shall have a Separation from Service and terminate employment as an Employee of the Company and each of its Subsidiaries.
(c) Employee shall not hold herself out in any manner inconsistent with the foregoing provisions of this Section 1.
2. Separation Payments and Benefits.
As noted in Section 5 of the Agreement between Employee and Company executed on January 25, 2022 (“Separation Agreement”), Employee’s eligibility for certain post-resignation benefits is expressly conditioned upon her execution of this Release Agreement, and further conditioned that Employee does not revoke her acceptance of the terms set forth in this Release Agreement within seven (7) days after executing it.  On the eighth day after Employee executes this Release Agreement, and assuming she did not revoke her acceptance prior thereto, Employee’s Separation From Service on the Effective Date shall be deemed an Involuntary Termination as a Termination by Mutual Consent as defined in Article I of the Severance Plan, entitling Employee to the applicable payments and benefits set forth in the Separation Agreement, subject to the terms and conditions set forth therein.
3. Company Equipment. Employee warrants that she has returned to the Company all reports, files, memoranda, records, software, laptops, computer equipment, cellular phones, credit cards, cardkey passes, door and file keys, computer access codes or disks and instructional manuals, and other physical or personal property that Employee received in connection with her employment with the Company that Employee had in her possession, and Employee has not retained any copies, duplicates, reproductions or excerpts thereof.
4. Release. The intent of this Section 4 is to secure Employee’s promise to waive and release all claims against the Company and the Released Parties (as defined below) for any harm Employee may claim to have suffered in connection with her employment or the termination of her employment with the Company and its subsidiaries, in return for the benefits described in the Separation Agreement.  Accordingly, in order to satisfy a condition precedent to her receipt of post-resignation benefits set forth in Section 2 of her Separation Agreement, and intending to be legally bound hereby, Employee hereby agrees as follows: 
(a) Except as otherwise provided in this Section 4(a), Employee knowingly and voluntarily hereby releases, to the fullest extent permitted by law, the Company and all of its past, present and/or future related entities, including but not limited to parents, divisions, affiliates and subsidiaries, and each current and former bonus, pension, welfare, or other benefit plans sponsored by any of the foregoing, and each of the respective officers, directors, managers, members stockholders, trustees, employees, agents, representatives, administrators, attorneys, insurers, fiduciaries, predecessors, successors and assigns of such entities and/or benefit plans, in their individual and/or representative capacities (hereinafter collectively referred to as the “Released Parties”), from any and all causes of action, suits, agreements, promises, damages, disputes, controversies, contentions, differences, judgments, claims and demands of any kind whatsoever (“Claims”) which Employee or her heirs, executors, administrators, successors and 

assigns ever had, now have or may have against the Released Parties, whether known or unknown to Employee, and whether asserted or unasserted, (i) by reason of her employment and/or cessation of employment with the Company, or (ii) that otherwise arose or is based on facts which occurred on or prior to the date that Employee signs this Release Agreement.
Such released Claims include, but are not limited to, any and all Claims under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Civil Rights Act of 1991, the Fair Labor Standards Act, the Family and Medical Leave Act of 1993, the Age Discrimination in Employment Act of 1967 (“ADEA”), the Older Workers’ Benefit Protection Act of 1990 (“OWBPA”), the Americans With Disabilities Act, the Employee Retirement Income Security Act of 1974 (including, without limitation, any claim for severance pay), the Virginia Human Rights Law and any and all other federal, state or local laws, statutes, rules and regulations pertaining to employment (each as amended), and including any claims related to status as a whistleblower (perceived or actual); any and all Claims under state contract or tort law; any and all Claims based on the design or administration of any employee benefit plan, program policy, procedure or arrangement, whether written or oral; any and all Claims for wages, commissions, bonuses, continued employment in any position, and compensatory, punitive or liquidated damages; and any and all Claims for attorneys’ fees and costs.
(b) If Employee commences, continues, joins in, or in any other manner attempts to assert any Claim released herein against any of the Released Parties or otherwise breaches the promises made in this Release Agreement, including, without limitation, breaching her obligations set forth in Article V of the Severance Plan, Employee shall reimburse the Released Parties for all attorneys’ fees incurred by the Released Parties in defending against such a Claim and, to the extent permitted by applicable law, Employee shall be required to return all consideration paid to Employee pursuant to the Separation Agreement, together with interest thereon at a reasonable and customary rate, within thirty (30) days of filing such Claim or notice of breach of the Employee’s obligations by the Company, as applicable, and the Company shall have no further obligation to furnish to Employee any further consideration described in this Release Agreement or the Separation Agreement. The Company’s right to recoup the consideration paid hereunder and to cease any further payments of consideration is without prejudice to the Released Parties’ other rights hereunder, including any right to obtain an agreement and release of any and all claims against the Released Parties.  Provided, however, that this Section 4(b) shall not apply to any Claim asserted by Employee pursuant to the ADEA, the OWBPA, and/or any other Claim for which this Section 4(b) is not permitted by applicable law.
(c) Employee agrees and covenants that should any person, organization or other entity file, charge, claim or file suit (including any action for damages, injunctive, declaratory, monetary or other relief) against the Released Parties which involves any matter occurring at any time in the past up to and including the date of this Release Agreement or any continuing effects of any acts or practices which may have arisen or occurred prior to the date of this Release Agreement, she will not accept and hereby waives the benefits of any such lawsuits or claims of any kind brought on her behalf against the Released Parties.
(d) Notwithstanding the foregoing, Employee is not releasing any of the following claims: (i) any rights or claims for indemnification Employee may have pursuant to any written indemnification agreement with the Company to which Employee is a party, the charter, bylaws, or operating agreements of the Company, or under applicable law; (ii) any rights which cannot be waived as a matter of law, (iii) claims for vested retirement benefits (including vested equity incentives), if any, under any Company sponsored plan and accrued but unpaid amounts as of the date hereof (including paid time-off); or (iv) reporting possible violations of federal law or regulation to any governmental agency or entity, or making other disclosures that are protected under, or receiving payments pursuant to, the whistleblower provisions of any applicable federal law or regulation, including, without limitation, the rules and regulations of the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the Department of Labor, or the National Labor Relations Board.  Additionally, nothing in this Release Agreement is intended to preclude or limit Employee from communicating with, responding to inquiries from, volunteering information to, or providing testimony before any federal, state or local government legislature, agency, or commission, or any self-regulatory organization, with respect to 

suspected violations of law, including the Securities and Exchange Commission, Financial Industry Regulatory Authority or New York Stock Exchange (or any other national exchange on which the shares of the Company’s common stock are listed). Employee understands and agrees that she is not required to contact or receive consent from the Company and/or its subsidiaries before engaging in such communications with any such authorities; provided, however, that Employee (1) must inform such authority that the information provided is confidential and (2) may not provide confidential information that is protected from disclosure by the attorney-client privilege or attorney work-product doctrine, except as is expressly permitted by law.  
(e) Nothing in this Release Agreement shall interfere with or waive Employee’s right to enforce this Release Agreement in a court of competent jurisdiction or seek a judicial determination of the validity of the release of her rights under the ADEA.
(f) Employee represents that she is not a Medicare Beneficiary as of the time she enters into this Release Agreement.
5. Consultation with Attorney/Voluntary Agreement.
(a) Employee acknowledges that (i) the Company has advised Employee of her right to consult with an attorney of Employee’s own choosing prior to executing this Release Agreement, (ii) Employee has carefully read and fully understands all of the provisions of this Release Agreement, and (iii) Employee is entering into this Release Agreement knowingly, freely and voluntarily in exchange for good and valuable consideration, including without limitation the obligations of the Company under this Release Agreement and the Separation Agreement. Employee further acknowledges that, in the absence of her execution of this Release Agreement, the payments and benefits specified in the Separation Agreement would not otherwise be due to her.
(b) Employee hereby acknowledges that the Company is providing Employee in the Separation Agreement with consideration to ease the impact of Employee’s Separation from Service with the Company. The fact that the Company is offering consideration to Employee is not understood by Employee as, nor is it intended to be, an admission that the Company or any of the Released Parties has violated Employee’s rights (or the rights of anyone else) in any manner whatsoever.
6. Assignment. This Release Agreement is personal to Employee and may not be assigned by Employee.
7. Counterparts. This Release Agreement may be executed simultaneously in counterparts, each of which shall be an original, but all of which shall constitute but one and the same agreement. An emailed or faxed signature shall operate the same as an original signature.
8. Enforceability. In the event that any one or more of the provisions of this Release Agreement are held to be invalid, illegal or unenforceable, the remainder hereof shall be equitably interpreted to give the fullest effect to the intent of the parties.
9. No Oral Modification; No Waivers. This Release Agreement may not be changed orally, but may be changed only in a writing signed by a duly authorized representative of the Company and Employee. The failure of the Company or Employee to enforce any of the terms, provisions or covenants of this Release Agreement will not be construed as a waiver of the same or of the right of the Company or Employee to enforce the same. Waiver by the Company or Employee of any breach or default by another party to this Release Agreement of any term or provision of this Release Agreement will not operate as a waiver of any other breach or default.
10. Entire Agreement and Third-Party Beneficiaries. This Release Agreement, together with the Separation Agreement and the Severance Plan, sets forth the entire understanding between the Company and Employee, and supersedes all prior agreements, representations, discussions, negotiations and understandings, concerning the subject matter addressed herein. The Company and Employee represent that, in executing this Release Agreement, each party has not relied upon any representation or statement made by the other party, other than those set forth herein, in the Separation Agreement, and in the Severance Plan, with regard to the subject matter, basis or effect of this Release 

Agreement. Each subsidiary of the Company is an intended third-party beneficiary of this Release Agreement.
11.   Breach of Release Agreement. In the event that Employee breaches any of her obligations under this Release Agreement, the Company will be entitled to the relief provided under the Severance Plan and this Release Agreement, including, but not limited to, Section 4(b) hereof, and to obtain all other relief provided by law or equity.

12. Governing Law. This Release Agreement shall be governed by the laws of the Commonwealth of Virginia and Employee hereby submits to and agrees that the exclusive jurisdiction for any suit, action or proceeding involving this Release Agreement will be any federal or state court located in the Commonwealth of Virginia.
13. Acknowledgement. Employee acknowledges and agrees that she (i) has not been forced or pressured in any manner whatsoever to sign this Release Agreement; (ii) has agreed to all of its terms voluntarily; (iii) has read this Release Agreement in its entirety and understands the terms of the Release Agreement; and (iv) has been given at least twenty-one (21) days from the receipt of this Release Agreement to consider all of its terms and to consult with counsel of her choice. Any changes to this Release Agreement or the Severance Plan during that period, whether material or not, will not extend the 21-day period. Employee may revoke her acceptance of the Release Agreement by sending written notice of her intent to revoke her acceptance, to the Company, at the following address: c/o Tish Mendoza, AES Human Resources Department, 4300 Wilson Boulevard, Arlington, Virginia 22203, within seven (7) days of her execution of the Release Agreement. If Employee revokes this Release Agreement, she will fail to have satisfied an express condition precedent to the Company’s obligation to pay her post-resignation benefits pursuant to the Separation Agreement. As a result, this Release Agreement and the related promises contained the Separation Agreement shall automatically be deemed null and void and Employee will not be entitled to any severance pay or any other benefits provided under the Severance Plan or herein.

IN WITNESS WHEREOF, the Company and Employee have executed this Release Agreement as of the date first set forth above.
									
			
	Lisa Krueger
	
	
	
	THE AES CORPORATION
	
	
	Name:		Tish Mendoza
	Title:		Executive Vice President and Chief Human Resources Officer
			
		
	Dated:

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