Document:

Exhibit 10.11

 

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

 

THIS FIRST AMENDMENT
TO EMPLOYMENT AGREEMENT ("Amendment") is effective as of [DeSPAC Closing
Date] (the “Effective Date”), by and between NuScale Power, LLC (the "Company") and John Hopkins
("Employee"). Each of the Company and Employee are a “Party” to this Amendment, and both are “Parties”
hereto.

 

WHEREAS, the Company and Employee
entered into an Employment Agreement effective November 1, 2021 (the “Agreement”);

 

WHEREAS, as part of its public
company readiness the Company desires to amend the Agreement on terms that are mutually agreed upon with Employee; and

 

WHEREAS, the Parties desire
to update certain additional terms in the Agreement.

 

NOW THEREFORE, in consideration
of the mutual covenants contained herein, the continuing employment of the Employee by the Company, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

SECTION 1: DEFINITIONS

 

All terms defined in this Section 1 will,
throughout this Amendment, have the meanings given herein and capitalized terms not otherwise defined shall have the meaning in the Agreement.
The terms Cause, Cause, Change in Control, Good Reason, and Release in the Agreement are superseded by the definitions below.

 

	(a)	"Annual Incentive Plan" means the Company’s incentive plan pursuant to which annual
incentives are granted, including any successor plan thereto.

 

	(b)	"Base Salary" means on the date of determination, the annual base salary then in effect
for Employee (but not less than the highest annual base salary paid to Employee during any of the three (3) years immediately preceding
the date of Employee’s Qualifying Termination).

 

	(c)	"Bonus" means the annual incentive amount payable to Employee, if any, under the Annual
Incentive Plan.

 

	(d)	“Cause” as determined in the reasonable judgment of the Company, means the Employee's
(i) commission of any felony or any crime involving moral turpitude or dishonesty; (ii) participation in a fraud against the
Company or any Affiliate; (iii) willful and material breach of Employee’s duties that has not been cured within thirty (30)
days after written notice from the Company of such breach; (iv) intentional and material damage to the Company’s or any Affiliate’s
property; (v) material violation of Company or its Affiliate’s policy or (vi) material breach by Employee of his/her Employee
Proprietary Information and Inventions Assignment.

 

Employee will not be deemed to have
been terminated for Cause unless and until there has been delivered to Employee written notice that Employee has engaged in conduct constituting
Cause. The determination of Cause will be made by Company’s Organization and Compensation Committee.

 

     

     

    

 

	(e)	"Change in Control" means the first of the following to occur: (i) a Change in Ownership
of the Company, (ii) a Change in Effective Control of the Company, or (iii) a Change in the Ownership of Assets of the Company,
as described herein and construed in accordance with Code section 409A.

 

		(i)	A “Change in Ownership of the Company” shall occur on the date that any one Person acquires, or Persons Acting as a Group
acquire, ownership of the capital stock of the Company that, together with the stock held by such Person or Group, constitutes more than
50% of the total fair market value or total voting power of the capital stock of the Company. However, if any one Person is, or Persons
Acting as a Group are, considered to own more than 50%, on a fully diluted basis, of the total fair market value or total voting power
of the capital stock of the Company, the acquisition of additional stock by the same Person or Persons Acting as a Group is not considered
to cause a Change in Ownership of the Company or to cause a Change in Effective Control of The Company (as described below). An increase
in the percentage of capital stock owned by any one Person, or Persons Acting as a Group, as a result of a transaction in which the Company
acquires its stock in exchange for property will be treated as an acquisition of stock.

 

		(ii)	A “Change in Effective Control of the Company” shall occur on the date either (A) a majority of members of the Company’
Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of
the Company’ Board before the date of the appointment or election, or (B) any one Person, or Persons Acting as a Group, acquires
(or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person or Persons) ownership of
stock of the Company possessing 50% or more of the total voting power of the stock of the Company.

 

		(iii)	A “Change in the Ownership of Assets of the Company” shall occur on the date that any one Person acquires, or Persons
Acting as a Group acquire (or has or have acquired during the 12-month period ending on the date of the most recent acquisition by such
Person or Persons), assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair
market value of all of the assets of the Company immediately before such acquisition or acquisitions. For this purpose, gross fair market
value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities
associated with such assets.

 

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		(iv)	The following rules of construction apply in interpreting the definition of Change in Control:

 

		(A)	A “Person” means any individual, entity or group within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934, as amended, other than employee benefit plans sponsored or maintained by the Company
and by entities controlled by the Company or an underwriter, initial purchaser or placement agent temporarily holding the capital stock
of the Company pursuant to a registered public offering.

 

		(B)	Persons will be considered to be Persons Acting as a Group (or Group) if they are owners of a corporation
that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the corporation. If a
Person owns stock in both corporations that enter into a merger, consolidation, purchase or acquisition of stock, or similar transaction,
such shareholder is considered to be acting as a Group with other shareholders only with respect to the ownership in that corporation
before the transaction giving rise to the change and not with respect to the ownership interest in the other corporation. Persons will
not be considered to be acting as a Group solely because they purchase assets of the same corporation at the same time or purchase or
own stock of the same corporation at the same time, or as a result of the same public offering.

 

		(C)	A Change in Control shall not include a transfer to a related person as described in Code section 409A
or a public offering of capital stock of the Company.

 

		(D)	For purposes of the definition of Change in Control, Section 318(a) of the Code applies to determine
stock ownership. Stock underlying a vested option is considered owned by the individual who holds the vested option (and the stock underlying
an unvested option is not considered owned by the individual who holds the unvested option). For purposes of the preceding sentence, however,
if a vested option is exercisable for stock that is not substantially vested (as defined by Treasury Regulation §1.83-3(b) and
(j)), the stock underlying the option is not treated as owned by the individual who holds the option.

 

(f)            Code"
means the Internal Revenue Code of 1986, as amended.

 

(g)           Company"
means NuScale Power Corporation, and any successor thereto which assumes and agrees to perform this Amendment by operation of law, or
otherwise.

 

(h)           "Compensation"
means the greater of (a) the sum of Employee’s Base Salary plus Target Bonus determined immediately prior to the date
on which a Change in Control occurs, or (b) the sum of Employee’s Base Salary plus Target Bonus determined immediately prior
to the date of the Qualifying Termination.

 

(i)            "Compensation
Committee" means the Organization and Compensation Committee of the Board.

 

(j)          "Equity
Plan" means any equity-compensation plan maintained by the Company or a Subsidiary under which Employee received equity-based
awards, such as stock options, restricted stock units, performance units or restricted stock.

 

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(k)           "Good
Reason" means the Employee terminates his or her employment with the Company or any Affiliate because, within the six (6) month
period preceding the Employee's termination, one or more of the following conditions arose and the Employee notified the Company of such
condition within 90 days of its occurrence and the Company did not remedy such condition within 30 days:

 

		(i)	a material diminution of Employee’s aggregate compensation (including, without limitation, Base
Salary, annual bonus opportunity, and equity incentive compensation opportunities) (other than a Base Salary or annual bonus opportunity
reduction of not more than 20% applicable to all similarly situated employees);

 

		(ii)	a material diminution of Employee’s authority, duties or responsibilities; or

 

		(iii)	any other action or inaction that constitutes a material breach by the Company of the agreement under
which Employee provides services (e.g., failure of successor to assume this Amendment or breach of same);

 

(l)            "IRS"
means the Internal Revenue Service.

 

(m)          “Qualifying
Termination” means either a Qualifying Termination within 2 Years of Change of Control or a Qualifying Termination Not
Involving Change of Control.

 

(n)           "Qualifying
Termination Within 2 Years of Change of Control" means any termination of Employee’s employment with the Company or any
Affiliate that is a "Separation from Service" (within the meaning of section 409A of the Code and Treasury Regulation §
1.409A-1(h)(3) (or any successor regulations or guidance thereto)) that occurs within two (2) years after the date upon which
a Change in Control occurs by reason of (a) Employee’s involuntary termination of employment without Cause or (b) Employee’s
resignation from employment for Good Reason.

 

(o)           “Qualifying
Termination Not Involving Change of Control” means any termination of Employee’s employment with the Company or any Affiliate
due to Employee’s involuntary termination of employment without Cause.

 

(p)           "Subsidiary"
means any entity in which the Company, directly or indirectly, possesses 50% or more of the total combined voting power of all classes
of its equity securities.

 

(q)           "Target
Bonus" means Employee’s target incentive award opportunity under the Annual Incentive Plan in effect for the year with
respect to which the target bonus amount is being determined or, if no such plan is then in effect, for the last year in which such a
plan was in effect.

 

(r)            "Waiver
and Release" means a legal document, substantially in the form attached hereto as Attachment A, in which Employee, in
exchange for severance benefits described in Section 2, among other things, releases the Company, its Subsidiaries and their Affiliates,
their respective directors, officers, employees and agents, and their respective employee benefit plans and the fiduciaries and agents
of said plans from liability and damages in any way related to Employee’s employment with or separation from the Company.

 

(s)            "Welfare
Benefit Coverage" means each of the group medical, dental and vision benefit coverages provided by the Company in which Employee
and Employee’s eligible dependents, if any, are participating immediately preceding the date of Employee’s Qualifying Termination.

 

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SECTION 2: SUPERSEDED AND ADDITIONAL TERMS

 

“Duties
and Scope of Employment” The Company shall employ Employee in the position of Chief Executive Officer and Board Member
and shall render such business and professional services in the performance of his duties, consistent with Employee's position within
the Company, as shall reasonably be assigned to him by the Board.

 

Additional Consideration:
Should the Company complete a merger agreement with a publicly-listed special purpose acquisition company (“SPAC”) and complete
a customary de-SPAC transaction, Employee shall be entitled to a Transaction Completion Bonus equal to 75% of Employee’s Base Salary.

 

NuScale Power,
LLC Change in Control Plan: All terms associated with the NuScale Power, LLC Change in Control Plan are superseded by the terms
in this Amendment.

 

Termination by
Company for Cause; Voluntary Termination by Employee: Severance associated with termination voluntarily by Employee for Good
Reason shall only be associated with a Change in Control.

 

SECTION 3: SEVERANCE BENEFITS

 

If Employee experiences a Qualifying Termination,
then, subject to the Waiver and Release requirement in Section 2(i) below, Employee will be entitled to receive, as additional
compensation for services rendered to the Company (including its Subsidiaries and Affiliates), the following severance benefits:

 

	(a)	Cash Severance Amount: A lump sum cash payment in an amount equal to Employee’s Compensation,
subject to applicable withholding for income and employment taxes: (i) multiplied by 3 if the termination is the result of a Change
of Control, or (ii) equal to Employee’s Compensation for a Qualifying Termination Not Involving Change of Control. Such cash
severance payment will be paid by the sixtieth (60th) day following Employee’s Qualifying Termination, but only if the Waiver and
Release described in Section 2(i) has been timely executed and returned and the Waiver and Release Revocation Period has expired.

 

	(b)	Accrued Obligations: Employee will be entitled to payment of all accrued Base Salary, accrued time
off and any other accrued and unpaid obligations as of the date of the Qualifying Termination. Such accrued obligations will be paid in
a lump sum, subject to applicable withholding for income and employment taxes, as soon as practicable following the date of Employee’s
Qualifying Termination in accordance with the Company’s normal payroll policies and practices.

 

	(c)	Pro-Rated Earned Bonus: If the successor fails to assume the Annual Incentive Plan, Employee will
be entitled to payment of the Bonus earned in accordance with the terms of the Annual Incentive Plan as acted on by the Compensation Committee
during the Company’s fiscal year of the Qualifying Termination. Such Bonus will be pro-rated as a fraction of twelve (12) for full
or partial months worked by Employee for the Company during such fiscal year and will be paid to Employee, at the time and in the same
manner specified in the Annual Incentive Plan.

 

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	(d)	Welfare Benefit Coverage: Employee will be entitled to continuation of Welfare Benefit Coverage
on the same basis as other active Company executives for Employee and his or her eligible dependents for a period of 18 months. Employee
and his or her covered dependents, if any, will be required to pay on an after-tax basis that portion of the premium cost paid by similarly
situated executives for active employee coverage to retain such coverages and the Company paid portion of the premium for such coverages
will be imputed as income and reported as wages to Employee. In all other respects Employee and his or her dependents will be treated
the same as other participants under the terms of such plans. The Welfare Benefit Coverage provided to Employee and his or her dependents
pursuant to this Section 2(d) will be in addition to any continued coverage Employee and such dependents are entitled to elect
under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"), and Employee and such dependents
will be provided with notice of their COBRA rights.

 

	(e)	Outplacement: Employee will be entitled to reimbursement of any expenses reasonably incurred by
Employee during the twelve (12) month period following Employee’s Qualifying Termination for outplacement services in an amount
up to twenty-five thousand dollars ($25,000). Reimbursement of such expenses will be made upon Employee’s substantiation of such
outplacement expenses; provided, however, that in no event will reimbursement be made later than March 15 of the year following
the year in which Employee incurs the substantiated expenses.

 

	(f)	Payment of Legal Expenses. Employee will be entitled to reimbursement of any legal expenses reasonably
incurred by Employee in order to obtain benefits under this Amendment; provided, that, the payment of such expenses is subject to an arms-length,
bona fide dispute as to Employee's right to such benefits. Such reimbursements will be made on a regular, periodic basis upon Employee’s
substantiation of such legal expenses; provided, however, that in no event will reimbursement be made later than March 15
of the year following the year in which Employee incurs the expenses unless Employee is a “Specified Employee” within the
meaning of section 409A of the Code and it is determined that reimbursement of such expenses is being made by reason of Employee’s
 "Separation from Service" (within the meaning of section 409A of the Code and Treasury Regulation § 1.409A-1(h)(3) (or
any successor regulations or guidance thereto) in which case reimbursement of such expenses will not be made before the day that is six
(6) months and one (1) day following Employee’s Separation from Service. The amount of legal expenses eligible for reimbursement
under this Section 2(f) during a taxable year may not affect the legal expenses eligible for reimbursement in any other taxable
year and the right to reimbursement under this Section 2(f) is not subject to liquidation or exchange for another benefit.

 

The pendency of a claim by the Company
that a claim or defense of Employee is frivolous or otherwise lacking merit will not excuse the Company from making periodic payments
of legal expenses pursuant to this Section 2(f) until a final determination is made regarding the validity of Employee’s
claim. In the event that a final determination is made that a claim asserted by Employee was frivolous, the portion of such expenses incurred
by Employee as a result of such frivolous claim will become Employee’s sole responsibility and any funds advanced by the Company
will be repaid to the Company. Any failure by the Company to satisfy any of its obligations under this Section 2(f) will not
limit the rights of Employee hereunder. Subject to the foregoing, Employee will have the status of a general unsecured creditor of the
Company and will have no right to, or security interest in, any assets of the Company or any Subsidiary or Affiliate.

 

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	(g)	Equity Compensation Adjustments.

 

		(i)	For a upon a Qualifying Termination in conjunction with a Change in Control, if the successor fails to
assume the Equity Plan: (i) any equity-based compensation awards, other than performance-based equity awards, granted to Employee
by the Company under an Equity Plan prior to such termination that are outstanding will, to the extent that the terms of the Equity Plan
and its associated award agreements do not provide for the immediate vesting, exercisability and/or settlement of such awards, fully vest,
and (ii) any performance-based equity awards will be paid to Employee at 100% of the target value for such bonus.

 

		(ii)	For a Qualifying Termination Not Involving Change of Control: (i) any equity-based compensation awards,
other than performance-based equity awards, granted to Employee by the Company under an Equity Plan prior to such termination that are
outstanding will, to the extent that the terms of the Equity Plan and its associated award agreements do not provide for the immediate
vesting, exercisability and/or settlement of such awards, continue to vest and become exercisable or settled pursuant to the existing
vesting schedule as if Employee was still employed, subject to the requirements of section 409A of the Code to the extent applicable,
and (ii) any performance-based equity awards will, to the extent the applicable performance criteria are met, be earned at 100% of
the target value on a pro rata basis based on the number of full months worked by Employee for the Company during the applicable performance
period and the number of months in the applicable performance period and will be settled at the time and in the same manner specified
in the Equity Plan. Employee will not be entitled to any new-equity based compensation awards following the date of his or her Qualifying
Termination.

 

	(h)	Retention Awards. If the successor fails to assume responsibility for the retention awards, upon
a Qualifying Termination any outstanding retention awards granted to Employee which are outstanding will become immediately vested and
settled pursuant to their terms, subject to the requirements of section 409A of the Code, to the extent applicable.

 

	(i)	Waiver and Release Requirement. Payment of the benefits under this Section 3 is subject to
Employee’s timely execution and return of the Waiver and Release to the Company, without subsequent revocation during the seven
(7)-day period following such execution date (the "Waiver and Release Revocation Period"), as provided in this Section 3(i).
Employee will have fifty (50) days following (i) his or her Qualifying Termination date to consider, execute and return the Waiver
and Release to the Company and will then have the right to revoke the Waiver and Release during the Waiver and Release Revocation Period.
If Employee fails to timely execute and return the Waiver and Release to the Company or revokes such Waiver and Release during the Waiver
and Release Revocation Period, then Employee will forfeit, and will not be entitled to, any of the benefits described in this Section 3
(other than the amounts described in Section 3(b)).

 

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SECTION 4: TARGET BONUS PAYMENT, RETENTION AWARDS AND EQUITY
CASHOUT

 

In the event that the successor to the Company
does not assume the Annual Incentive Plan, and irrespective of whether Employee incurs a Qualifying Termination, Employee will be entitled
to receive a lump sum cash payment in an amount equal to the Target Bonus in effect at the time of the Change in Control, subject to applicable
withholding for income and employment taxes. Such Target Bonus will be paid within five (5) business days following the date of the
Change in Control. In the event the successor to the Company does not assume any outstanding retention awards as of the date of the Change
in Control, then such awards will become immediately fully vested and settled at the time of such Change in Control, subject to the requirements
of section 409A of the Code to the extent applicable. In the event the successor to the Company does not assume the Equity Plan or grant
comparable awards in substitution of the outstanding awards under the Equity Plan as of the date of the Change in Control, then any equity-based
compensation awards granted to Employee by the Company under Equity Plan and outstanding as of the date of the Change in Control, other
than performance-based equity awards, will become immediately fully vested and/or exercisable and will no longer be subject to a substantial
risk of forfeiture or restrictions on transferability, other than those imposed by applicable legislative or regulatory requirements,
including the provisions of section 409A of the Code to the extent applicable. In the event the successor to the Company does not assume
any outstanding retention awards as of the date of the Change in Control any performance-based equity compensation awards granted to Employee
by the Company under the Equity Plan and outstanding as of the date of the Change in Control will become fully vested at a rate determined
under the Equity Plan as if the target performance measures were met and will be settled at the time of such Change in Control, subject
to applicable legislative or regulatory requirements, including the provisions of section 409A of the Code to the extent applicable.

 

SECTION 5: SECTION 280G

 

	(a)	Adjustment for 280G Excise Tax. In the event payments to Employee
pursuant to this Amendment (when considered with all other payments made to Employee as a result of a Change in Control that are subject
to section 280G of the Code) (the amount of all such payments, collectively, the "Parachute Payment") results in Employee
becoming liable for the payment of any excise taxes pursuant to section 4999 of the Code, together with any interest or penalties with
respect to such excise tax ("280G Excise Tax"), then the Company will automatically reduce (the “Reduction”)
Employee’s Parachute Payment to the minimum extent necessary to prevent the Parachute Payment (after the Reduction) from being subject
to the Excise Tax, but only if, by reason of the Reduction, the after-tax benefit of the reduced Parachute Payment exceeds the after-tax
benefit if such Reduction were not made. If the after-tax benefit of the reduced Parachute Payment does not exceed the after-tax benefit
if the Parachute Payment is not reduced, then the Reduction will not apply. If the Reduction is applicable, the Parachute Payment will
be reduced in such a manner that provides Employee with the best economic benefit and, to the extent any portions of the Parachute Payment
are economically equivalent with each other, each will be reduced pro rata.

 

	(b)	Determination of Adjustment. All determinations required to
be made under Section 4(a), including the after-tax benefit and calculation of the Reduction, will be made by a nationally recognized
certified public accounting firm that is selected by the Company (the “Accounting Firm”), which may be the Company’s
independent auditors. In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group effecting
the Change in Control or the Accounting Firm declines or is unable to serve, Employee will appoint another nationally recognized certified
public accounting firm, which is reasonably agreed to by the Company, to make the determinations required hereunder (which accounting
firm will then be referred to as the Accounting Firm hereunder). In the event that the Accounting Firm determines that no Excise Tax is
payable by Employee, either with or without application of the Reduction under Section 4(a), then the Accounting Firm will furnish
Employee with a written opinion that failure to report the Excise Tax on Employee’s applicable federal income tax return would not
result in the imposition of a negligence or similar penalty. If the Reduction is applicable, the Company will provide Employee with a
written summary of the portions of the Parachute Payment that will be reduced. All fees and expenses of the Accounting Firm will be borne
solely by the Company. All determinations by the Accounting Firm made under this Section 4(b) will be binding upon the Company
and Employee.

 

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SECTION 6: INDEMNIFICATION

 

THE COMPANY WILL, TO THE FULLEST EXTENT PERMITTED
BY LAW, INDEMNIFY AND HOLD HARMLESS EXECUTIVE FROM AND AGAINST ANY AND ALL LIABILITY, COSTS AND DAMAGES ARISING FROM EXECUTIVE’S
SERVICE AS AN EMPLOYEE, OFFICER OR DIRECTOR OF THE COMPANY OR ITS AFFILIATES, SPECIFICALLY INCLUDING LIABILITY, COSTS AND DAMAGES THAT
ARISE IN WHOLE OR IN PART FROM ANY NEGLIGENCE OR ALLEGED NEGLIGENCE OF EXECUTIVE, EXCEPT, HOWEVER, TO THE EXTENT THAT ANY SUCH LIABILITY,
COST OR DAMAGE RESULTED FROM AN ACT OR OMISSION BY EXECUTIVE THAT CONSTITUTES GROSS NEGLIGENCE OR WILLFUL MISCONDUCT ON EXECUTIVE’S
PART. The Company will provide directors' and officers' liability insurance that will cover Employee's actions in the course and scope
of Employee’s duties on behalf of the Company or its Affiliates as well as any contractual indemnification provided to other executives
at his or her level at any given time. To the fullest extent permitted by Oregon law, in connection with any litigation or proceeding
related to Employee's actions in the course and scope of Employee’s duties on behalf of the Company or its Affiliates, the Company
will either (a) retain counsel to defend Employee or (b) reimburse Employee for legal fees and expenses for counsel selected
by Employee, twenty (20) days after receipt by the Company of a written request for reimbursement, which request will include an itemized
list of the fees and expenses incurred. Before the Company retains counsel or reimburses Employee under this Section 5, Employee
must agree in writing in a form acceptable to the Company to reimburse the Company for all amounts paid under this Section 5 if it
is ultimately determined that Employee is not entitled to be indemnified for such fees and expenses. This Section 5 will be in addition
to, and will not limit in any way, the rights of Employee to any other indemnification from the Company, as a matter of law, contract
or otherwise.

 

Notwithstanding the preceding paragraph, the Company’s
indemnification and hold harmless obligations hereunder will not apply to the extent Employee is required to repay any amounts to the
Company pursuant to federal legislation (including Section 16 of the Securities Exchange Act of 1934) or a generally applicable clawback
policy adopted by the Company.

 

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SECTION 7: CONFIDENTIALITY

 

Employee acknowledges that pursuant to this Amendment,
the Company agrees to provide Employee Confidential Information regarding the Company and the Company’s business and has previously
provided him or her other such Confidential Information. In return for this and other consideration, provided under this Amendment, Employee
agrees that he or she will not, while employed by the Company and thereafter, disclose or make available to any other person or entity,
or use for his or her own personal gain, any Confidential Information, except for such disclosures as required in the performance of Employee’s
duties hereunder as may otherwise be required by law or legal process (in which case Employee will notify the Company of such legal or
judicial proceeding as soon as practicable following Employee’s receipt of notice of such a proceeding, and permit the Company to
seek to protect its interests and information). For purposes of this Amendment, "Confidential Information" means any
and all information, data and knowledge that has been created, discovered, developed or otherwise become known to the Company or any of
its Affiliates, Subsidiaries or ventures or in which property rights have been assigned or otherwise conveyed to the Company or
any of its Affiliates, Subsidiaries or ventures, which information, data or knowledge has commercial value in the business in which the
Company is engaged, except such information, data or knowledge as is or becomes known to the public without violation of the terms of
this Amendment. By way of illustration, but not limitation, Confidential Information includes business trade secrets, secrets concerning
the Company’s plans and strategies, nonpublic information concerning material market opportunities, technical trade secrets, processes,
formulas, know-how, improvements, discoveries, developments, designs, inventions, techniques, marketing plans, manuals, records of research,
reports, memoranda, computer software, strategies, forecasts, new products, unpublished financial information, projections, licenses,
prices, costs, and employee, customer and supplier lists or parts thereof.

 

SECTION 8: RETURN OF PROPERTY

 

Employee agrees that at the time of leaving the
Company’s employ, Employee will deliver to the Company (and will not keep in Employee’s possession, recreate or deliver to
anyone else) all Confidential Information as well as all other devices, records, data, notes, reports, proposals, lists, correspondence,
specifications, drawings, blueprints, sketches, materials, equipment, customer or client lists or information, or any other documents
or property (including all reproductions of the aforementioned items) belonging to the Company or any of its Affiliates, Subsidiaries
or ventures, regardless of whether such items were prepared by Employee.

 

SECTION 9: NON-SOLICITATION AND NON-COMPETITION AND NONDISPARAGEMENT

 

	(a)	Non-Solicitation. In return for the consideration provided under this Amendment, including, but
not limited to the Company’s agreement to provide Employee with Confidential Information (as defined in Section 6) regarding
the Company and the Company’s business, Employee agrees that while employed by the Company and for one (1) year following a
Qualifying Termination Employee will not, without the prior written consent of the Company, directly or indirectly, (i) hire or induce,
entice or solicit (or attempt to induce, entice or solicit) any employee of the Company or any of its Subsidiaries, Affiliates or ventures
to leave the employment of the Company or any of its Subsidiaries, Affiliates or ventures or (ii) solicit or attempt to solicit the
business of any customer or acquisition prospect of the Company or any of its Affiliates or ventures with whom Employee had any actual
contact while employed at the Company.

 

	(b)	Non-Competition. Additionally, in return for the consideration provided under this Amendment, including,
but not limited to the Company’s agreement to provide Employee with Confidential Information regarding the Company and the Company’s
business, Employee agrees that while employed by the Company and for one (1) year following a Qualifying Termination Employee will
not, without the prior written consent of the Company, acting alone or in conjunction with others, either directly or indirectly, engage
in any business that is in competition with the Company or accept employment with or render services to such a business as an officer,
agent, employee, independent contractor or consultant, or otherwise engage in activities that are in competition with the Company.

 

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	(c)	Geographic Restrictions. The restrictions contained in this Section 8 are limited to the geographic
areas in which Employee performed duties on behalf of the Company or about which Employee possessed Confidential Information during the
twelve (12) months prior to Employee’s Qualifying Termination.

 

	(d)	Non-disparagement. Employee agrees that Employee will not disparage the Company, the Board, the
Company’s executives, the Company’s employees and the Company’s products or services during the term of this Amendment
and thereafter. The Company likewise agrees that it will not disparage Employee during the term of this Amendment and thereafter. For
purposes of this Section 8(d), disparagement does not include (i) compliance with legal process or subpoenas to the extent only
truthful statements are rendered in such compliance attempt, (ii) statements in response to an inquiry from a court or regulatory
body, or (iii) statements or comments in rebuttal of media stories.

 

	(e)	Forfeiture Provision. If Employee violates any of the covenants and restrictions contained in this
Section 8 or the confidentiality provisions of Section 6, Employee must pay to the Company the full amount of the severance
benefits received by Employee pursuant to Section 2 (other than Section 2(b)) or such lesser amount as determined to be the
maximum reasonable and enforceable amount by a court or arbitrator. The provisions of this Section 8(e) are in addition to any
forfeiture provisions of other Company plans, programs or agreements applicable to Employee. Employee specifically recognizes and affirms
that this Section 8 is a material part of this Amendment without which the Company would not have entered into this Amendment. Employee
further covenants and agrees that if all or any part or application of this Section 8 is held or found invalid or unenforceable for
any reason whatsoever by a court of competent jurisdiction or arbitrator in an action between Employee and the Company, then Employee
will promptly pay to the Company the amount of the severance benefits received by Employee pursuant to Section 2, or such lesser
amount as is determined to be the maximum reasonable and enforceable amount by a court or arbitrator, as applicable.

 

	(f)	Reasonableness of Restrictions. Employee acknowledges that these restrictive covenants under this
Amendment, for which Employee received valuable consideration from the Company as provided in this Amendment, including, but not limited
to the Company’s agreement to provide Employee with Confidential Information regarding the Company and the Company’s business
are ancillary to otherwise enforceable provisions of this Amendment that the consideration provided by the Company gives rise to the Company’s
interest in restraining Employee from competing and that the restrictive covenants are designed to enforce Employee’s consideration
or return promises under this Amendment. Additionally, Employee acknowledges that these restrictive covenants contain limitations as to
time, geographical area, and scope of activity to be restrained that are reasonable and do not impose a greater restraint than is necessary
to protect the goodwill or other legitimate business interests of the Company, including, but not limited to, the Company’s need
to protect its Confidential Information.

 

	(g)	Enforcement and Remedies. Should a court of competent jurisdiction or arbitrator find that the
restrictive covenants are unreasonable, Employee and the Company agree that the court or arbitrator will revise the restrictive covenants
to restrict Employee’s activities for the maximum period, scope or geographic area permitted by law. Because Employee’s services
are unique and due to Employee’s receipt of the Confidential Information, Employee and the Company agree that the Company would
suffer imminent, irreparable harm from a breach of this Section 8 as well as the non-disclosure provisions of Section 6 and
monetary damages would not provide an adequate remedy for a breach of Sections 6 and 8. Therefore, in the event of a breach or threatened
breach, the Company is entitled to specific performance, injunctive relief and/or equitable relief from a court of competent jurisdiction
in order to enforce this Amendment and prevent a breach of Sections 6 and 8 of this Amendment.

 

    - 11 -

     

    

 

SECTION 10: CONFLICTS WITH OTHER AGREEMENTS

 

In the event that Employee becomes entitled to
benefits under a subsequent agreement pertaining to Employee’s employment by the Company or any Subsidiary or Affiliate (other than
this Amendment) or the benefits to which Employee is entitled as a result of such employment and such benefits conflict with the terms
of this Amendment and the subsequent agreement does not expressly supersede all prior agreements, Employee will receive the greater and
more favorable of each of the benefits provided under either this Amendment and the Agreement or such other agreement or benefits, on
an individual benefit basis, provided, however, that any such other conflicting payment is payable under its terms in the same
calendar year and in the same form as the corresponding benefit payable under this Amendment.

 

SECTION 11: NOTICES

 

For purposes of this Amendment, notices and all
other communications provided for herein will be in writing and will be deemed to have been duly given when personally delivered or when
mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

 

	If to Company:	NuScale Power
	 	6650 SW Redwood Lane
	 	Portland, OR 97224
	 	Attention: Chief Legal Officer
	 	 
	If to Employee:	17670 West Swan Shores
Road
	 	BigFork, MT 59911

 

or to such other address as either party may furnish
to the other in writing in accordance herewith, except that notices of changes of address will be effective only upon receipt.

 

SECTION 12: LITIGATION ASSISTANCE

 

Employee agrees to assist the Company with any
litigation matters related to the Company or any of its Subsidiaries or Affiliates as may be reasonably requested by the Company’s
Chief Legal Officer following the date of Employee’s Qualifying Termination. The Company will reimburse Employee for any reasonable
travel or other business expenses incurred in connection with providing such assistance and cooperation. Employee will provide such services
as an independent contractor and such services will be limited solely to those matters with which Employee is suitably experienced and
knowledgeable by reason of Employee’s education, training, background and prior employment with the Company. The Company and Employee
agree to work out reasonable accommodations for the provision of such assistance so that it does not unreasonably interfere with any of
Employee’s personal affairs, business endeavors or future employment. The Company and Employee agree that the services provided
by Employee under this Section 11, if any, will not exceed twenty percent (20%) of the average level of bona fide services performed
by Employee (whether as an employee or an independent contractor of the Company) over the thirty-six (36) month period (or the full period
of services to the Company if Employee has been providing services to the Company for less than thirty-six (36) months) immediately preceding
Employee’s Qualifying Termination date.

 

    - 12 -

     

    

 

SECTION 13: PRIOR AGREEMENTS/MODIFICATION

 

This Amendment contains the entire agreement between
the parties with respect to the subject matter hereof and supersedes all prior agreements or understandings, whether written or oral,
between the parties with respect thereto. This Amendment may be amended by an agreement in writing signed by the parties hereto; provided,
however, that, in addition, (i) Employee’s Compensation may be increased at any time by the Company without in any way
affecting any of the other terms and conditions of this Amendment which in all other respects will remain in full force and effect, (ii) the
Company may amend this Amendment upon written notice to Employee in order to comply with or minimize the adverse impact of changes in
the law (including, without limitation, the avoidance of new regulatory requirements applicable to welfare benefits), provided that the
economic benefits of this Amendment as so amended are maintained to the extent reasonably practicable and (iii) the Company may amend
this Amendment without the consent of Employee upon written notice to Employee, provided that the amendment is not effective until at
least one year after it is communicated to Employee and a Change in Control has not occurred prior to the effective date of the amendment.
The provisions of this Amendment will be binding upon, and will inure to the benefit of, the respective heirs, legal representatives and
successors of the parties hereto. Employee represents to the Company that he or she is not a party to any agreement or subject to any
legal restriction that would prevent him or her from fulfilling his or her duties hereunder.

 

SECTION 14: SECTION 409A

 

It is the intent of the parties that the provisions
of this Amendment comply with, or satisfy an exemption from, section 409A of the Code, as specified below. Accordingly, the parties intend
that this Amendment be interpreted and operated consistent with such requirements of section 409A in order to avoid the application of
penalty taxes under section 409A to the extent reasonably practicable. The Company will neither cause nor permit: (a) any payment,
benefit or consideration to be substituted for a benefit that is payable under this Amendment if such action would result in the failure
of any amount that is subject to section 409A of the Code to comply with the applicable requirements of section 409A of the Code; or (b) any
adjustments to any equity interest to be made in a manner that would result in the equity interest becoming subject to section 409A of
the Code unless, after such adjustment, the equity interest is in compliance with the requirements of section 409A of the Code to the
extent applicable.

 

Notwithstanding any provision of the Agreement
and this Amendment to the contrary, if Employee is a “Specified Employee” within the meaning of section 409A of the Code as
of Employee’s Qualifying Termination date, then any amounts or benefits which are payable under this Amendment upon Employee’s
 "Separation from Service" (within the meaning of section 409A), other than due to death, which are subject to the provisions
of section 409A and not otherwise excluded under section 409A, and would otherwise be payable during the first six (6)-month period following
such Separation from Service, will be paid on the day that is (a) six (6) months and one (1) day after the date after Employee’s
Qualifying Termination date or (b) follows Employee’s date of death, if earlier.

 

    - 13 -

     

    

 

The cash severance benefits in Section 2(a),
the accrued obligations under Section 2(b), the pro-rata earned bonus under Section 2(c), the welfare benefit coverage under
Section 2(d), the outplacement services under Section 2(e) and the Target Bonus payout under Section 3 are excluded
from section 409A. The legal expense provision under Section 2(f) (and the welfare benefit coverage under Section 2(d) if
deemed to be subject to section 409A) are intended to qualify as eligible reimbursement arrangements under Treasury Regulation §
1.409A-3(i)(1)(iv) and will be reimbursed in accordance with the requirements of such regulation such that any reimbursements will
be deemed payable at a specified time or on a fixed schedule relative to a permissible payment event. The equity compensation provided
pursuant to Section 2(g) and retention awards provided pursuant to Section 2(h) are subject to section 409A of the
Code to the extent provided under the applicable Equity Plan or retention award agreement, as applicable.

 

SECTION 15: APPLICABLE LAW

 

The validity, interpretation, construction and
performance of this Amendment will be governed by and construed in accordance with the substantive laws of the State of Delaware, including
the Oregon statute of limitations, but without giving effect to the principles of conflict of laws of such State.

 

SECTION 16: SEVERABILITY

 

If a court of competent jurisdiction determines
that any provision of this Amendment is invalid or unenforceable, then the invalidity or unenforceability of that provision will not affect
the validity or enforceability of any other provision of this Amendment and all other provisions will remain in full force and effect.

 

SECTION 17: WITHHOLDING OF TAXES

 

The Company may withhold from any benefits payable
under this Amendment all federal, state, city or other taxes as may be required pursuant to any law or governmental regulation or ruling.

 

SECTION 18: NO EMPLOYMENT AGREEMENT

 

Nothing in this Amendment changes the at will
nature of Employee’s employment, nor will it give Employee any rights to (or impose any obligations for) continued employment by
the Company (or any Affiliate or Subsidiary) or successor thereto, nor will it give the Company any rights (or impose any obligations)
with respect to continued performance of duties by Employee for the Company (or any Affiliate or Subsidiary) or successor thereto.

 

SECTION 19: NO ASSIGNMENT

 

Employee’s right to receive payments or
benefits hereunder will not be assignable or transferable, whether by pledge, creation of a security interest or otherwise, whether voluntary,
involuntary, by operation of law or otherwise, other than a transfer by will or by the laws of descent or distribution, and in the event
of any attempted assignment or transfer contrary to this Section 18, the Company will have no liability to pay any amount so attempted
to be assigned or transferred.

 

    - 14 -

     

    

 

SECTION 20: SUCCESSORS

 

This Amendment will inure to the benefit of and
be enforceable by Employee’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees
and legatees.

 

This Amendment will be binding upon and inure
to the benefit of the Company, its successors and assigns (including, without limitation, any company into or with which the Company may
merge or consolidate). The Company agrees that it will not effectuate the sale or other disposition of all or substantially all of its
assets unless either (a) the person or entity acquiring such assets or a substantial portion thereof will expressly assume by an
instrument in writing all duties and obligations of the Company hereunder or (b) the Company will provide, through the establishment
of a separate reserve therefor, for the payment in full of all amounts which are or may reasonably be expected to become payable to Employee
hereunder.

 

SECTION 21: DEATH

 

In the event of Employee’s death while employed
hereunder, Employee’s beneficiary (or such other person(s) specified by will, Employee estate planning documents, or applicable
laws of descent and distribution) shall receive a lump sum payment within forty-five (45) days of Employee's death equal to (i) any
earned and unpaid Base Salary, (ii) Employee's accrued and unused vacation, and (iii) Employee's Annual Incentive Bonus to which
Employee would have been entitled if target performance had been achieved, prorated to the date of Employee’s death. In addition,
the Company shall pay 100% of the COBRA premium for up to 18 months of continuation coverage under the Company's group health plan for
the Employee's surviving spouse and any dependent children, provided they were covered under the Company's group health plan on the date
of Employee's death and timely elect COBRA continuation coverage. Notwithstanding the foregoing, the COBRA subsidy shall terminate and
the Company shall have no further obligation upon the earlier of (i) the date COBRA coverage terminates, and (ii) the date such
subsidy may, in the Company's discretion, violate the nondiscrimination rules of or result in the imposition of penalties under the
Affordable Care Act and the regulations and guidance promulgated thereunder or any other applicable law. Any options granted to Employee
pursuant to an Equity Incentive Plan shall, in the event of Employee’s death while employed, be transferred to Employee’s
beneficiary (or such other person(s) specified by will, Employee estate planning documents, or applicable laws of descent and distribution).
The Equity Incentive Plan then in effect will control when and whether such options have vested and whether and how they may be exercised.

 

SECTION 22: PAYMENT OBLIGATIONS ABSOLUTE

 

Except for the requirement of Employee to execute
and return to the Company a Waiver and Release in accordance with Section 2, the Company’s obligation to pay (or cause one
of its Affiliates or Subsidiaries to pay) Employee the amounts and to make the arrangements provided herein will be absolute and unconditional
and will not be affected by any circumstances, including, without limitation, any set off, counter claim, recoupment, defense or other
right which the Company (including its Affiliates and Subsidiaries) may have against Employee or anyone else. All amounts payable by the
Company (including its Affiliates and Subsidiaries hereunder) will be paid without notice or demand. Employee will not be obligated to
seek other employment in mitigation of the amounts payable or arrangements made under any provision of this Amendment, and, subject to
the restrictions in Section 8, the obtaining of any other employment will in no event affect any reduction of the Company’s
obligations to make (or cause to be made) the payments and arrangements required to be made under this Amendment. Notwithstanding the
foregoing, in the event of a material restatement of the Company’s financial results or as otherwise required by law, the Board
or a Board committee will evaluate the circumstances and may, in its discretion, recover from Employee the portion of any performance-based
compensation earned by that Employee during the fiscal periods materially affected by the restatement that would not have been earned
had performance been measured on the basis of the restated results, regardless of fault.

 

    - 15 -

     

    

 

SECTION 23: DISPUTE RESOLUTION

 

		a.	Mediation. In the event of any dispute or claim arising out of, in connection with, or
                                                                related to this Amendment, the parties shall first meet and confer in good faith to fairly and equitably resolve the dispute. Such
                                                                meeting shall occur within seven days of the date of notice implementing this dispute resolution process. If the parties cannot
                                                                resolve the issue within 10 days following such meeting, then they shall mediate the matter within 30 days after their meeting,
                                                                under the auspices of Arbitration Service of Portland ("ASP"), or if that entity fails or declines to serve,
                                                                such other similar service or organization as agreed by the parties to this Amendment.

 

		b.	Arbitration. Should the parties be unable to resolve any such dispute through such mediation,
                                                                they agree that binding arbitration shall be the exclusive remedy for any such claim or dispute. Any arbitration shall be conducted
                                                                through ASP in Portland, Oregon, using a single arbitrator agreed upon by the parties, or if the parties are unable to agree on an
                                                                arbitrator, selected by the parties alternatively striking names off a list of seven arbitrators provided by ASP. Such arbitration
                                                                shall be conducted under the employment arbitration rules of ASP. Advance costs of the arbitration shall be divided equally
                                                                between the parties. If the arbitrator finds, based on all the facts and circumstances, that the conduct of or the claims made by a
                                                                party were unreasonable or substantially without merit, the prevailing party shall be entitled to recover its reasonable
                                                                attorney’s fees and expenses (including expert witness fees) incurred in connection with the arbitration and any subsequent
                                                                litigation, together with the costs of the arbitration, from the party asserting unreasonable or meritless claims, in addition to
                                                                all other remedies provided in law or in equity. Judgment on the arbitration award may be entered by any court of competent
                                                                jurisdiction. Should any party to this Amendment institute any legal action or administrative proceeding against the other with
                                                                respect to any Claim or arbitrable dispute related to this Amendment without first engaging in binding arbitration as provided
                                                                herein, the responding party shall be entitled to recover from the initiating party all damages, costs, expenses, and
                                                                attorney’s fees incurred as a result of that breach.

 

SECTION 24: TERM

 

The term of this Amendment will commence on the
Effective Date and will end on the last day of the two (2) year period following a Change in Control; provided, however, that
if, prior to a Change in Control, Employee ceases for any reason to be an employee of the Company, then the term will, without further
action, expire, and this Amendment will terminate, as of such termination date; provided, further, that if Employee exercises his or her
rights under this Amendment prior to the end of the two (2) year period following a Change in Control, this Amendment will continue
for so long as any actions are being taken by Employee, within the terms of the Amendment, to enforce his or her rights hereunder.

 

    - 16 -

     

    

 

SECTION 25: COUNTERPARTS

 

This Amendment may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF,
the parties have caused this Amendment to be executed effective as of the Effective Date.

 

	 	NUSCALE POWER, LLC
	 	 	 
	 	 	 
	 	By:	
	 	 	General Counsel & Board Secretary

 

	 	Date:	 

 

	 	EXECUTIVE

 

	 	 
	 	Name

 

	 	Date:	 

 

    - 17 -

     

    

 

	ATTACHMENT A

 

WAIVER AND RELEASE

 

In exchange for the payment to me of the Severance
Benefits described in Section 2 of the Employment Agreement between NuScale Power Corporation and me, as amended effective as of
_________, 20__ (the "Agreement"), which I understand is incorporated herein by reference, and of other remuneration
and consideration provided for in the Agreement (the "Separation Benefits"), which is in addition to any remuneration
or benefits to which I am already entitled, I agree to waive all of my claims against and release (i) NuScale Power Corporation
and its predecessors, successors and assigns (collectively referred to as the "Company"), (ii) all of the affiliates
(including all parent companies and all wholly or partially owned subsidiaries) of the Company and their directors, officers, employees,
agents, insurers, predecessors, successors and assigns (collectively referred to as the "Affiliates"), and (iii) the
Company’s and its Affiliates’ employee benefit plans and the fiduciaries and agents of said plans (collectively referred to
as the "Benefit Plans") from any and all claims, demands, actions, liabilities and damages arising out of or relating
in any way to my employment with or separation from employment with the Company and its Affiliates other than amounts due pursuant to
Section 2 or Section 3 of the First Amendment to the Agreement (the “Amendment”) and rights and benefits
I am entitled to under the Benefit Plans. (The Company, its Affiliates and the Benefit Plans are sometimes hereinafter collectively referred
to as the "Released Parties.")

 

I understand that signing this Waiver and Release
is an important legal act. I acknowledge that I am hereby advised in writing to consult an attorney before signing this Waiver and Release.
I understand that, in order to be eligible for the Separation Benefits, I must sign (and return to the Company) this Waiver and Release.
I acknowledge that I have been given at least [21] days to consider whether to accept the Separation Benefits and therefore execute this
Waiver and Release.

 

In exchange for the payment to me of the Separation
Benefits, (1) I agree not to pursue a legal claim in any local, state and/or federal court regarding or relating in any way to my
employment with or separation from employment with the Company and its Affiliates, and (2) I knowingly and voluntarily waive all
claims and release the Released Parties from any and all claims, demands, actions, liabilities, and damages, whether known or unknown,
arising out of or relating in any way to my employment with or separation from employment with the Company and its Affiliates, except
to the extent that my rights are vested under the terms of any employee benefit plans sponsored by the Company and its Affiliates and
except with respect to such rights or claims as may arise after the date this Waiver and Release is executed.

 

This Waiver and Release includes, but is not limited
to, claims and causes of action under: Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act
of 1967, as amended, including the Older Workers Benefit Protection Act of 1990; the Civil Rights Act of 1866, as amended; the Civil Rights
Act of 1991; the Americans with Disabilities Act of 1990; the Workers Adjustment and Retraining Notification Act of 1988; the Pregnancy
Discrimination Act of 1978; the Employee Retirement Income Security Act of 1974, as amended; the Consolidated Omnibus Budget Reconciliation
Act of 1985, as amended; the Family and Medical Leave Act of 1993; the Fair Labor Standards Act; the Occupational Safety and Health Act;
the Oregon Bureau of Labor and Industry (BOLI) regulation, claims in connection with workers’ compensation, retaliation or "whistle
blower" statutes; and/or contract, tort, defamation, slander, wrongful termination or any other state or federal regulatory, statutory
or common law. Notwithstanding the above, I further acknowledge that I am not waiving and am not being required to waive any right
that cannot be waived under law (including, without limitation, the right to file an administrative charge or participate in an administrative
investigation or proceeding); provided that I disclaim and waive any right to share or participate in any monetary award resulting from
the prosecution of such charge or investigation or proceeding.

 

    - 18 -

     

    

 

Further, I expressly represent that no promise
or agreement which is not expressed in this Waiver and Release has been made to me in executing this Waiver and Release, and that I am
relying on my own judgment in executing this Waiver and Release, and that I am not relying on any statement or representation of the Company
or its Affiliates or any of their agents. I agree that this Waiver and Release is valid, fair, adequate and reasonable, is made with my
full knowledge and consent, was not procured through fraud, duress or mistake and has not had the effect of misleading, misinforming or
failing to inform me. I acknowledge and agree that the Company will withhold the minimum amount of any taxes required by federal or state
law from the Separation Benefits otherwise payable to me.

 

Notwithstanding the foregoing, I do not release
and expressly retain (a) all rights to indemnity, contribution, and defense, and directors and officers and other liability coverage
that I may have under any statute, the bylaws of the Company or by other agreement; and (b) the right to any, unpaid reasonable business
expenses and any accrued benefits payable under any Company welfare plan or tax-qualified plan.

 

I acknowledge that payment of the Separation Benefits
is not an admission by any one or more of the Released Parties that they engaged in any wrongful or unlawful act or that they violated
any federal or state law or regulation. I acknowledge that neither the Company nor its Affiliates has promised me continued employment
or represented to me that I will be rehired in the future. I acknowledge that my employer and I contemplate an unequivocal, complete and
final dissolution of my employment relationship. I acknowledge that this Waiver and Release does not create any right on my part to be
rehired by the Company or its Affiliates, and I hereby waive any right to future employment by the Company or its Affiliates.

 

I understand that for a period of seven (7) calendar
days following the date that I sign this Waiver and Release, I may revoke my acceptance of this Waiver and Release, provided that
my written statement of revocation is received on or before that seventh day by [Name and/or Title], [address], in which case the
Waiver and Release will not become effective. If I timely revoke my acceptance of this Waiver and Release, the Company will have no obligation
to provide the Separation Benefits to me. I understand that failure to revoke my acceptance of the offer within seven (7) calendar
days from the date I sign this Waiver and Release will result in this Waiver and Release being permanent and irrevocable.

 

Should any of the provisions set forth in this
Waiver and Release be determined to be invalid by a court, agency or other tribunal of competent jurisdiction, it is agreed that such
determination will not affect the enforceability of other provisions of this Waiver and Release. I acknowledge that this Waiver and Release
sets forth the entire understanding and agreement between me and the Company and its Affiliates concerning the subject matter of this
Waiver and Release and supersede any prior or contemporaneous oral and/or written agreements or representations, if any, between me and
the Company or its Affiliates.

 

    - 19 -

     

    

 

I acknowledge that I have read this Waiver and
Release, have had an opportunity to ask questions and have it explained to me, am signing this Waiver and Release knowingly and voluntarily
and with the advice of any attorney I have retained to advise me with respect to it, and that I understand that this Waiver and Release
will have the effect of knowingly and voluntarily waiving any action I might pursue, including breach of contract, personal injury, retaliation,
discrimination on the basis of race, age, sex, national origin, or disability and any other claims arising prior to the date of this Waiver
and Release.

 

I represent that I am not aware of any claim by
me other than the claims that are released in this Waiver and Release. By execution of this document, I do not waive or release or
otherwise relinquish any legal rights I may have which are attributable to or arise out of acts, omissions, or events of the Company or
its Affiliates which occur after the date of the execution of this Waiver and Release.

 

	 	 
	Employee’s Signature	 

 

	 	 
	Employee’s Printed Name	 

 

	 	 
	Date  	 

 

    - 20 -Exhibit 10.12

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement
(the “Agreement”) is made and entered into effective as of May 17, 2019 (the “Effective Date”),
by and between Dale Atkinson (the “Employee”) and NuScale Power, LLC (the “Company”).

 

WHEREAS, the Company
desires to employ the Employee as Chief Operating Officer and Chief Nuclear Officer, under the terms of this Agreement; and

 

WHEREAS, any and
all payments hereunder are intended to satisfy the “short-term deferral” exemption under Treas. Reg. §1.409-1(b)(4) and/or
the “separation pay” exemption under Treas. Reg. §1.409-1(b)(9) such that no payment hereunder shall be deemed “deferred
compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“Code”);

 

NOW, THEREFORE, in
consideration of the mutual covenants contained herein, the continuing employment of the Employee by the Company, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

		1.	Definitions. For purposes of this Agreement, the following terms have the meanings attributed to them:

 

		a.	Board: the means the senior-level governing body for the Company (or its successor) in the form of a Board of Managers or Board
of Directors of the Company, as applicable.

 

		b.	Cause: as determined in the reasonable judgment of the Company, means the Employee’s (i) commission of any felony or
any crime involving moral turpitude or dishonesty; (ii) participation in a fraud against the Company; (iii) willful and material breach
of Employee’s duties that has not been cured within thirty (30) days after written notice from the Company of such breach; (iv)
intentional and material damage to the Company’s property; (v) material violation of Company policy or (vi) material breach by Employee
of his/her Employee Proprietary Information and Inventions Assignment.

 

		c.	Change in Control: has the meaning set forth in Exhibit B, the NuScale Power, LLC Change in Control Plan.

 

		d.	Good Reason: means the Employee terminates his or her employment with the Company because, within the six (6) month period
preceding the Employee’s termination, one or more of the following conditions arose and the Employee notified the Company of such
condition within 90 days of its occurrence and the Company did not remedy such condition within 30 days:

 

(i)       a
material diminution in the Employee’s base salary as in effect on the date hereof or as the same may be increased from time to time;

 

(ii)      a
material diminution in the Employee’s authority, duties, or responsibilities;

 

(iii)     the
relocation of the Employee’s principal place of employment outside a sixty-mile radius of Corvallis, Oregon; or

 

(iv)     any
other action or inaction that constitutes a material breach by the Employer of this Agreement.

 

		e.	Release: means a separation and non-competition agreement and release of claims, in substantially similar form to that attached
hereto as Exhibit A.

 

		f.	Termination Date: means the date of Employee’s termination with the Company (or its successor).

 

		2.	Duties and Scope of Employment. The Company shall employ Employee in the position of Chief Operating Officer and Chief Nuclear
Officer. Employee shall render such business and professional services in the performance of his/her duties, consistent with Employee’s
position within the Company, as shall reasonably be assigned
to him/her by the Board, Managing Member, and the Chief Executive Officer (“CEO”).

 

     

     

    

 

		3.	Obligations. While employed hereunder, Employee shall perform his/her duties faithfully and to the best of his/her ability.
Employee shall not actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration
without the prior approval of the Board or CEO, provided, however, that Employee may engage in non-competitive business or charitable
activities so long as such activities do not materially interfere with Employee’s responsibilities to the Company. Outside board
seats shall be subject to the prior approval of the Board or CEO.

 

		4.	Employment Term. Employee’s employment with the Company pursuant to this Agreement shall commence on the Effective Date
and shall continue on an “at-will” basis until terminated pursuant to Section 6 of this Agreement, and subject to the severance
provisions therein.

 

		5.	Compensation and Benefits.

 

		a.	Base Salary. The Company shall pay Employee as compensation for Employee’s services hereunder an annual base salary of
$ $386,964.31. Such salary shall be subject to applicable tax withholding and shall be paid periodically in accordance with normal Company
payroll practices.

 

		b.	Annual Incentive Bonus. Employee shall be eligible to be paid, but is not guaranteed, an annual performance bonus for each
calendar year in which Employee is employed, commencing with calendar year 2019, based on the achievement of certain Company performance
goals, as determined by the Board. The Company has not currently established, but reserves the right to establish, individual Employee
performance goals consistent with Employee’s position, though not inconsistent with the Company performance goals, that may also
affect the payout of any Employee annual incentive bonus. Any suggested or target amount of any such annual incentive bonus shall be established
as forty percent (40%) of Employee’s Base Salary. The amount to be determined shall be based upon review of the Company’s
performance relative to the Company performance goals established by the Board each calendar year. If fully or partially earned, payment
of the Annual Incentive Bonus for 2019 shall be paid on or before March 15, 2020. Each subsequent Annual Incentive Bonus shall be paid
in the immediately following calendar year, no later than March 15th of such year.

 

		c.	Benefits. Employee shall be eligible to participate in the employee benefit plans which are available or which become available
to other employees of the Company, with the adoption or maintenance of such plans to be in the discretion of the Company, subject in each
case to the generally applicable terms and conditions of the plan or program in question and to the determination of any committee administering
such plan or program. Employee shall also be entitled to paid vacation of four (4) weeks per year, with the timing and duration of specific
vacations mutually and reasonably agreed to by the parties hereto. The Company reserves the right to change or terminate its employee
benefit plans and programs at any time, not including incentive bonuses established pursuant to this Section 5, severance or death benefits
established pursuant to Section 6 of this Agreement, any other bonus or severance arrangements to which Employee might otherwise be entitled,
or any outstanding equity rights or awards granted to Employee.

 

		d.	Expenses. The Company shall reimburse Employee for reasonable business expenses incurred by Employee in the furtherance of
or in connection with the performance of Employee’s duties hereunder, in accordance with the Company’s expense reimbursement
policy as in effect from time to time.

 

    2 

     

    

 

		6.	Payments Upon Termination of Employment.

 

		a.	Termination by Company for Cause; Voluntary Termination by Employee.
                                            In the event Employee’s employment with the Company is terminated for Cause by the
                                            Company or voluntarily by Employee without Good Reason (i) the Company shall pay Employee
                                            any earned but unpaid Base Salary due for periods prior to the Termination Date; (ii) the
                                            Company shall pay Employee all of Employee’s accrued and unused vacation through the
                                            Termination Date; and (iii) following submission of proper expense reports by Employee, the
                                            Company shall reimburse Employee for all expenses reasonably and necessarily incurred by
                                            Employee in connection with the business of the Company prior to the Termination Date. These
                                            payments shall be made promptly upon termination and within the period of time mandated by
                                            applicable law and in no event later than March 15th of the year following the Termination
                                            Date.

 

		b.	Termination by Company without Cause or by Employee for Good Reason. The Company may terminate Employee’s employment
without Cause at any time. If the Company terminates Employee’s employment with the Company without Cause or the Employee terminates
for Good Reason, and in either event Employee signs and does not revoke a Release, then Employee shall be entitled to:

 

		i.	Receive continuing payments of severance pay (less applicable withholding taxes) at a rate equal to three times his/her annual Base
Salary and one hundred percent (100%) of any earned, pro-rated bonus, then in effect, for a period of twelve (12) months from the Termination
Date, to be paid periodically in accordance with the Company’s normal payroll policies.

 

		ii.	Receive a monthly cash payment (less applicable withholding taxes) in an amount equal to 100% of the applicable premium, less the
2% administrative charge, for family COBRA continuation coverage under the Company’s group health plan, determined as of the Termination
Date, until the earliest of (a) the eighteen-month anniversary of the Termination Date, (b) the date Employee is no longer eligible to
receive COBRA continuation coverage, and (c) the date on which the Employee becomes eligible to receive substantially similar coverage
from another employer. Notwithstanding the foregoing, if, in the Company’s discretion, payments would violate the nondiscrimination
rules or result in the imposition of penalties under the Affordable Care Act and the related regulations and guidance promulgated thereunder
or any other applicable law, the Company shall cease to have an obligation for this payment.

 

		c.	Death. In the event of Employee’s death while employed hereunder, Employee’s beneficiary (or such other person(s)
specified by will, Employee estate planning documents, or applicable laws of descent and distribution) shall receive a lump sum payment
within forty-five (45) days of Employee’s death equal to (i) any earned and unpaid Base Salary, (ii) Employee’s accrued and
unused vacation, (iii) Employee’s Annual Incentive Bonus to which Employee would have been entitled, prorated to the date of Employee’s
death, and (iv) payment of the amounts otherwise due under paragraph 6(b)(i), above. In addition, the Company shall pay 100% of the COBRA
premium for up to 18 months of continuation coverage under the Company’s group health plan for the Employee’s surviving spouse
and any dependent children, provided they were covered under the Company’s group health plan on the date of Employee’s death
and timely elect COBRA continuation coverage. Notwithstanding the foregoing, the COBRA subsidy shall terminate and the Company shall have
no further obligation upon the earlier of (i) the date COBRA coverage terminates, and (ii) the date such subsidy may, in the Company’s
discretion, violate the nondiscrimination rules of or result in the imposition of penalties under the Affordable Care Act and the regulations
and guidance promulgated thereunder or any other applicable law. Notwithstanding the provision in Section 11.e, any options granted to
Employee pursuant to an Equity Incentive Plan shall, in the event of Employee’s death while employed, be transferred to Employee’s
beneficiary (or such other person(s) specified by will, Employee estate planning documents, or applicable laws of descent and distribution).
The Equity Incentive Plan then in effect will control when and whether such options have vested and whether and how they may be exercised.

 

    3 

     

    

 

		d.	Non-Compete, Solicitation and Confidentiality. None of the benefits and compensation specified in this Section 6 shall be provided
if it is determined by arbitration as set forth below that the Employee has breached Employee’s non-compete agreement at any point
during the term of Employee’s employment. Further, the payment of any benefits or compensation specified in this Section 6 shall
immediately cease and be forfeit if the Company determines that the Employee has breached his/her non-compete agreement at any point after
the Termination Date.

 

		e.	Change in Control. An Employee is a participant in NuScale Power, LLC Change in Control Plan (the “Plan”) if Employee
has been so-designated in Appendix A of the Plan and a copy of the Plan (excluding Appendix A) is attached hereto as Exhibit B. If the
Employee is a participant in the Plan, in the event of a Change of Control the terms of the Plan shall control. If Employee is not a Plan
Participant, then Exhibit B to this Employment Agreement is intentionally blank.

 

		7.	No Impediment to Agreement. Employee hereby represents to the Company that Employee is not, as of the date hereof, and shall
not be during Employee’s employment with the Company, employed under contract, oral or written, by any other person, firm or entity,
and is not and shall not be bound by the provisions of any restrictive covenant or confidentiality agreement which would constitute an
impediment to, or restriction upon, Employee’s ability to enter this Agreement and to perform the duties of Employee’s employment.

 

		8.	Dispute Resolution.

 

		a.	Mediation. In the event of any dispute or claim arising out of, in connection with, or related to this Agreement, the parties
shall first meet and confer in good faith to fairly and equitably resolve the dispute. Such meeting shall occur within seven days of the
date of notice implementing this dispute resolution process. If the parties cannot resolve the issue within 10 days following such meeting,
then they shall mediate the matter within 30 days after their meeting, under the auspices of Arbitration Service of Portland (“ASP”),
or if that entity fails or declines to serve, such other similar service or organization as agreed by the parties to this Agreement.

 

		b.	Arbitration. Should the parties be unable to resolve any such dispute through such mediation, they agree that binding arbitration
shall be the exclusive remedy for any such claim or dispute. Any arbitration shall be conducted through ASP in Portland, Oregon, using
a single arbitrator agreed upon by the parties, or if the parties are unable to agree on an arbitrator, selected by the parties alternatively
striking names off a list of seven arbitrators provided by ASP. Such arbitration shall be conducted under the employment arbitration rules
of ASP. Advance costs of the arbitration shall be divided equally between the parties. If the arbitrator finds, based on all the facts
and circumstances, that the conduct of or the claims made by a party were unreasonable or substantially without merit, the prevailing
party shall be entitled to recover its reasonable attorney’s fees and expenses (including expert witness fees) incurred in connection
with the arbitration and any subsequent litigation, together with the costs of the arbitration, from the party asserting unreasonable
or meritless claims, in addition to all other remedies provided in law or in equity. Judgment on the arbitration award may be entered
by any court of competent jurisdiction. Should any party to this Agreement institute any legal action or administrative proceeding against
the other with respect to any Claim or arbitrable dispute related to this Agreement without first engaging in binding arbitration as provided
herein, the responding party shall be entitled to recover from the initiating party all damages, costs, expenses, and attorney’s
fees incurred as a result of that breach.

 

		9.	Successors; Personal Services. The services and duties to be performed by the Employee hereunder are personal and may not be
assigned or delegated. This Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and the
Employee, the Employee’s heirs and representatives.

 

    4 

     

    

 

		10.	Notice. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have
been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid.
In the case of the Employee, mailed notices shall be addressed to Employee at the home address, which Employee most recently communicated
to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices
shall be directed to the attention of the CEO.

 

		11.	Miscellaneous Provisions.

 

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

 

		b.	Entire Agreement. This Agreement shall supersede and replace all prior agreements or understandings relating to the subject
matter hereof, and no agreement, representations or understandings (whether oral or written or whether express or implied) which are not
expressly set forth in this Agreement have been made or entered into by either party with respect to the relevant matter hereof.

 

		c.	Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the internal
substantive laws of the State of Oregon without reference to any choice of law rules.

 

		d.	Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity
or enforceability of any other provision hereof, which shall remain in full force and effect.

 

		e.	No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement shall not be made subject
to option or assignment, either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy,
garnishment, attachment or other creditor’s process, and any action in violation of this subsection shall be void.

 

		f.	No Duty to Mitigate. Employee shall not be required to mitigate the amount of any payment contemplated by this Agreement, nor
shall any such payment be reduced by any earnings that Employee may receive from any other source.

 

		g.	Employment Taxes. All payments made pursuant to this Agreement shall be subject to withholding of all applicable income, health
insurance and employment taxes.

 

		h.	Assignment by Company. The Company may assign its rights under this Agreement to an affiliate (as defined under the Securities
Exchange Act of 1934), and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company.
In the case of any such assignment, the term “Company” when used in a section of this Agreement shall mean the corporation
that actually employs the Employee.

 

		i.	No Changes to Other Agreements. The terms of this Agreement do not in any way alter the terms and conditions of the NuScale
Power, LLC Option Agreement, the Operating Agreement of NuScale Power, LLC, or the Unit Option Agreement, which, in the event of a conflict,
shall take precedence over this Agreement.

 

		j.	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

  

		k.	Section 409A. Any payments made under this Agreement that may be excluded from Section 409A either as separation pay due to
an involuntary separation from service or as a short term deferral shall be excluded from Section 409A to the maximum extent possible.
Any payments to be made under this Agreement upon a termination of employment shall only be made upon a “separation from service”
as defined under Section 409A. If the time period for considering and revoking a Release starts in one taxable year and ends in the next
taxable year, applicable payments shall be made in the second taxable year.

 

[Remainder of page
intentionally left blank.]

 

    5 

     

    

 

IN WITNESS WHEREOF, each
of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above
written.

  

	COMPANY:	                                                   
	 	Date

 

	 	 
	 	By
	 	 
	 	 
	 	Title
	 	 
	EMPLOYEE:	/s/ Dale Atkinson
	 	Dale Atkinson

 

	 	        7/11/19        	 
	 	Date

 

SIGNATURE PAGE TO EMPLOYMENT
AGREEMENT 

 

    6 

     

    

 

EXHIBIT A

FORM OF SEPARATION
AND NON-COMPETITION

AGREEMENT AND RELEASE
OF CLAIMS

 

The following is a form of separation and
non-competition agreement and release of claims (the “Release”). This template is subject to being updated at the sole discretion
of NuScale Power, LLC (“NuScale”) to comply with applicable law at the time of separation, to provide for the parties, to
add any recitals appropriate to the release at the time that it is executed, such as to provide specific reference to the consideration
associated with the Release, and to make similar changes. All consideration for executing the Release in its final form is described in
the Agreement.

 

1.                  
General Release. In exchange for the promises, covenants and consideration described in this Release, [Executive Name] releases
and forever discharges NuScale from any and all claims, demands, actions, suits, causes of action, debts, accounts or controversies of
any nature whatsoever, whether known or unknown, whether asserted or unasserted, that [Executive Name] had or may have had against NuScale
through the date of this Release. This release includes, without limitation, all claims that [Executive Name] may assert against NuScale
arising out of, or in any way related to, [Executive Name]’s employment by, and separation of, employment with NuScale, and all
claims that were asserted or could have been asserted by [Executive Name] against NuScale, and any and all actions or omissions by NuScale
up to and including the date of this Release. This release also includes, without limitation, any and all claims under any state, federal
or local law or other authority, including, but not limited to, any claim for additional compensation in any form and any claim arising
under any statutes or regulations pertaining to wages, conditions of employment or discrimination in employment, including, without limitation,
Title VII of the Civil Rights Act of 1964; the Family and Medical Leave Act; the Post Civil War Civil Rights Acts (42 USC §§
1981-1988); the Civil Rights Act of 1991; the Equal Pay Act; the Age Discrimination in Employment Act (“ADEA”) including the
Older Workers Benefit Protection Act of 1990 (“OWBPA”); the Equal Pay Act of 1963; the Fair Labor Standards Act; the Occupational
Safety and Health Act; the Rehabilitation Act of 1973; §§ 503 and 504 of the Vocational Rehabilitation Act; the Americans with
Disabilities Act and amendments thereto; the Uniform Services Employment and Reemployment Rights Act; the Davis-Bacon Act; the Walsh-Healey
Act; the Employee Retirement Income Security Act; the Contract Work Hours and Safety Standards Act; Executive Order 11246; from any and
all claims arising under federal, state, or local laws prohibiting employment discrimination or retaliation based on [PLAINTIFF’S]
race, color, religion, sex, pregnancy, sexual orientation, national origin, marital status, age, expunged juvenile records, whistleblowing
activity, disability, handicap, veteran status, invocation of the workers’ compensation system, service in a uniformed service,
membership in an organized militia of the state, initiation of aid in administrative, criminal, or civil proceedings, invocation of the
Oregon Family Leave Act, the Oregon Military Family Leave Act; Chapter 659A of the Oregon Revised Statutes, or claims arising out of any
legal restrictions on an employer’s right to terminate an employee; and any regulations under or amendments of such authorities.
This release also extends to all claims of any kind under any constitutional, contract, tort or other legal, equitable or statutory theories.
Claims not covered by the release provisions of this Release are (i) claims for unemployment insurance benefits, (ii) claims for workers’
compensation benefits, and (iii) any other rights that may not be legally released by private agreement as a matter of public policy.

 

    

     

    

 

2.                   Acknowledgement
of Rights and Waiver and Release of Claims Under the Age Discrimination in Employment Act. [Executive Name] further acknowledges
that this Release includes a release of all claims under the ADEA and is subject to the terms of the OWBPA, which provides that an
individual cannot waive a right or claim under the ADEA unless such waiver is knowing and voluntary. Pursuant to the requirements of
the ADEA and OWBPA, [Executive Name] acknowledges that she has been advised: (a) that this Release includes, but is not limited to,
all rights or claims arising under the ADEA up to and including the date of execution of this Release; (b) that she has the right to
consult with an attorney or other advisor of [Executive Name]’s choosing concerning her rights and obligations under this
Release; (c) that she has the right to fully consider the release before executing it and that [Executive Name] has been afforded
ample time and opportunity, at least twenty-one (21) days, to do so; and (d) that her release of claims under the ADEA shall become
effective and enforceable on the eighth (8th) day after [Executive Name] signs and delivers this Release to NuScale, provided she
has not revoked her ADEA/OWBPA release by delivering written notification within seven (7) days after delivery of the signed Release
to NuScale’s General Counsel, 6650 SW Redwood Ln., Suite 210, Portland, OR 97224. If [Executive Name] revokes her ADEA/OWBPA
release within the seven (7) day period, her release of all other claims in this Release shall remain in full force and effect as of
the date of his/her signature.

 

3.                  
Covenant Not to Sue; No Right of Recovery in Administrative Action. [Executive Name] covenants that she will not initiate any legal
action of any kind against NuScale for any action or omission by NuScale through the date of this Release. This does not preclude [Executive
Name] from filing a charge or complaint or from cooperating with the Equal Employment Opportunity Commission or any other federal, state
or local administrative body or government agency. [Executive Name] agrees, however, that she shall not be entitled to receive any benefit
from or obtain any relief through any such charge or complaint, whether filed by [Executive Name] or on [Executive Name]’s behalf,
based upon claims arising from or attributable in any way to her employment by or separation of employment with NuScale.

 

4.                  
Release Effective Despite Discovery of New Facts. This Release shall operate as a full and complete general release of NuScale,
notwithstanding the discovery of any different or additional facts.

 

5.                  
Restrictive Covenants.

 

		a.	Non-Solicitation Covenant. For one (1) year after my employment with NuScale terminates, regardless of the reason for termination,
I will not (a) directly or indirectly solicit business related to small modular reactor development or deployment from any person or entity
which then is or was a NuScale customer, client or prospect during the twelve (12) months prior to termination; (b) induce any such person
or entity to cease or reduce their business relationship with NuScale; (c) induce any person to leave the employment of NuScale; or (
d) directly or indirectly hire or use the services of any NuScale employee unless I obtain NuScale’s written consent. I will not
aid others in doing anything I am prohibited from doing myself under this paragraph, whether as an employee, officer, director, shareholder,
partner, consultant or otherwise . For purposes of this paragraph, the term “solicit” includes (i) responding to requests
for proposals and invitations for bids for small modular reactors ; (ii) initiating contacts with customers, clients, or prospects of
NuScale for the purpose of advising them that I no longer am employed by NuScale and am available for work which is competitive with the
services offered by NuScale for the development and deployment of small modular reactors; and (iii) participating in joint ventures or
acting as a consultant or subcontractor or employee of others who directly solicit business prohibited by this Release. The term “NuScale
employee” includes any then current employee of NuScale or any person who has left the employ of NuScale within the then previous
six (6) months. The terms “NuScale client” and “NuScale customer” include any parent corporation, subsidiary corporation,
affiliate corporation or partner or joint venture of a client or customer. “NuScale prospect” means any person or entity to
which NuScale has submitted disclosed information protected by a Non-disclosure agreement (NDA) for the purposes of soliciting their interest
in acquiring a NuScale Plant, including but not limited to any potential customer for whom the NuScale has submitted a bid or proposal
within the then immediately preceding six (6) months. For purposes of this Section
7 only, the term “development” means making application to the NRC for design certification of a small modular reactor or
the preparation of engineering designs, drawings, technical specifications, calculations or diagrams for a small modular reactor, or raising
the financing for any of the proceeding. The term “deployment” means to manufacture, assemble and deliver a small modular
reactor, or the financing thereof.

 

    8 

     

    

 

		b.	Noncompetition Covenant. For one (1) year following termination of my employment for any reason, I will not directly or indirectly
Compete ( defined below) with NuScale anywhere NuScale is doing or planning to do business, nor will I engage in any other activity which
would conflict with the NuScale’s business, or interfere with my obligations to the NuScale. “Compete” means directly
or indirectly: (i) have any financial interest in; (ii) join, operate, control or participate in, or be connected as an officer, employee,
agent, independent contractor, partner, principal or shareholder with ( except as holder of not more than five percent (5%) of the outstanding
stock of any class of a corporation, the stock of which is actively publicly traded); (iii) provide services in any capacity to those
participating in the ownership, management, operation or control of; and/or (iv) act as a consultant or subcontractor to, a Competitive
Business (defined below). “Competitive Business” means any corporation, proprietorship, association or other entity or person
engaged in the sale, production and/or development of products or the rendering of services of a kind similar to or competitive with that
sold, produced, developed or rendered by NuScale for small modular reactor development or deployment as of the date my employment terminates,
unless I obtain the NuScale’s written consent. Any electric utility or business that sells, produces or develops products or renders
services for large scale nuclear reactors or related to fossil fuels, in each case so long as the electric utility or business does not
sell, produce or develop products or render services for small scale nuclear reactor development or deployment, shall not constitute a
 “Competitive Business” for purposes of this Release.

 

NuScale agrees at its sole discretion
to release me from my obligations under this Section 5.b. in the event NuScale ceases to do business or makes a filing under the U.S.
Bankruptcy Code. Such release will not be unreasonably withheld, delayed or conditioned.

 

I acknowledge that NuScale informed
me of my non-compete obligations in a written employment offer received by me at least two weeks before the first day of my employment,
that a noncompetition agreement is required as a condition of employment. NuScale reserves, at NuScale’s sole discretion, all of
the options under ORS 653.295 for enforcement of this noncompetition agreement for up to one (1) year from the date of this Release.

 

6.                  
Non-disparagement. [Executive Name] agrees to refrain from any defamation, libel or slander of NuScale and from making any negative
or derogatory comments concerning NuScale, and to refrain from interfering in any way with the business relationships of NuScale. This
paragraph in no way limits [Executive Name]’s ability to testify truthfully if required by law or lawful order to do so, regardless
of whether the testimony may be perceived as negative or derogatory.

 

7.                  
No Admission. This Release is made and entered into for the purpose of settling and compromising any disputes between the Parties.
This Release is not, and shall not be construed as, an admission of any sort by NuScale. NuScale expressly denies any liability to [Executive
Name] and enters into this Release solely to avoid the expense and inconvenience of litigating, arbitrating and/or defending any potential
claims or counterclaims.

 

    9 

     

    

 

8.                  
 Confidential Release. [Executive Name] agrees and represents that she will keep strictly confidential each of the terms of this
Release and the existence of this Release and its negotiation, and any actions taken in accordance with this Release, including, without
limitation, the amount of the Payment referenced in Paragraph 8 above. [Executive Name] may only disclose the terms of this Release to
the following persons: (a) her immediate family; (b) her tax preparer or accountant, who she has retained and is compensating; (c) governmental
taxing authorities; (d) her attorneys; (e) her treating physician and/or mental health counselor; or (f) as otherwise required by law.
In the event of such disclosure, [Executive Name] will take reasonable steps to ensure that confidentiality is maintained. Except as set
forth above, [Executive Name] represents that she has not disclosed any of the terms of this Release prior to the execution of this Release.
If suit is necessary to enforce this term, the prevailing party shall be entitled to receive its costs and attorney fees so incurred.
NuScale will similarly treat this Release as confidential, treating it in accordance with its business procedures for proprietary and
confidential information. NuScale will not disclose any terms of this Release to any employee who does not need to know, other than disclosure
to employees of the terms necessary to enforce the terms of this Release.

 

9.                  
Disputes and Attorney Fees. Any Disputes arising out of this Release shall be resolved as provided for in the Agreement. In any
proceeding arising out of or relating to this Agreement, the prevailing party shall be entitled to recover its attorney fees and all other
fees, costs and expenses actually incurred and reasonably necessary in connection therewith.

 

10.               
Survival of Terms. If one or more of the provisions contained in this Release shall for any reason be invalid or unenforceable,
such provision or provisions may be modified by an arbitrator or appropriate judicial body so that they are valid and/or enforceable.
If any provision is stricken, the remaining provisions of this Release shall remain valid and enforceable.

 

11.               
Integrated Agreement. This Release contains the entire agreement and understanding between the Parties and supersedes and replaces
all prior negotiations and proposed agreements, written or oral. No amendments, modifications or supplements to this Release may be made
other than by a writing signed by the Parties. The terms of this Release are contractual and not a mere recital.

 

12.               
Counterparts. This Release may be executed in one or more counterparts, each of which shall be deemed an original, but all of which
together constitute one and the same instrument binding on all Parties. Furthermore, signatures delivered by fax or electronically transmitted
by email shall have the same force, validity and effect as the originals.

 

IN WITNESS WHEREOF, each
of the parties has executed this Agreement, in the case of the NuScale by its duly authorized officer, as of the day and year first above
written.

 

	FOR:	  [Executive]	 	FOR:	  NUSCALE POWER, LLC

 

	By:	 	 	By:	 
	 	(Signature)	 	 	(Authorized Signature)
	Name:	 	Name:
	 	 	 	Title:

 

	Date:	 	 	Date:	 

 

    10 

     

    

 

EXHIBIT B 

 

NUSCALE POWER, LLC
CHANGE IN CONTROL PLAN

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