Document:

Exhibit 10.1

 

INDEMNITY
AGREEMENT

 

This
Indemnity Agreement, dated as of _________ ____, 202_ is made by and between Proterra Inc, a Delaware corporation (the “Company”),
and _____________________, a director, officer or key employee of the Company or one of the Company’s subsidiaries or other service
provider who satisfies the definition of Indemnifiable Person set forth below (“Indemnitee”).

 

RECITALS

 

A. The
Company is aware that competent and experienced persons are increasingly reluctant to serve as representatives of corporations unless
they are protected by comprehensive liability insurance and indemnification, due to increased exposure to litigation costs and risks
resulting from their service to such corporations, and due to the fact that the exposure frequently bears no relationship to the compensation
of such representatives;

 

B. The
members of the Board of Directors of the Company (the “Board”) have concluded that to retain and attract talented
and experienced individuals to serve as representatives of the Company and its Subsidiaries and Affiliates and to encourage such individuals
to take the business risks necessary for the success of the Company and its Subsidiaries and Affiliates, it is necessary for the Company
to contractually indemnify certain of its representatives and the representatives of its Subsidiaries and Affiliates, and to assume for
itself maximum liability for Expenses and Other Liabilities in connection with claims against such representatives in connection with
their service to the Company and its Subsidiaries and Affiliates;

 

C. Section
145 of the Delaware General Corporation Law (“Section 145”), empowers the Company to indemnify by agreement
its officers, directors, employees and agents, and persons who serve, at the request of the Company, as directors, officers, employees
or agents of other corporations, partnerships, joint ventures, trusts or other enterprises, and expressly provides that the indemnification
provided thereby is not exclusive; and

 

D. The
Company desires and has requested Indemnitee to serve or continue to serve as a representative of the Company and/or the Subsidiaries
or Affiliates of the Company free from undue concern about inappropriate claims for damages arising out of or related to such services
to the Company and/or the Subsidiaries or Affiliates of the Company.

 

E. The
Indemnitee may have certain rights to indemnification and/or insurance which are intended to be secondary to the primary obligation of
the Company to indemnify Indemnitee as provided herein, with the Company’s acknowledgment and agreement to the foregoing being
a material condition to Indemnitee’s willingness to serve on the Company’s Board of Directors.

 

AGREEMENT

 

NOW,
THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

 

1. Definitions.

 

(a) Affiliate.
For purposes of this Agreement, “Affiliate” of the Company means any corporation, partnership, limited liability
company, joint venture, trust or other enterprise in respect of which Indemnitee is or was or will be serving as a director, officer,
trustee, manager, member, partner, employee, agent, attorney, consultant, member of the entity’s governing body (whether constituted
as a board of directors, board of managers, general partner or otherwise), fiduciary, or in any other similar capacity at the request,
election or direction of the Company, and including, but not limited to, any employee benefit plan of the Company or a Subsidiary or
Affiliate of the Company.

 

     

     

    

 

(b) Change
in Control. For purposes of this Agreement, “Change in Control” means any event or circumstance where (i)
any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other
than a Subsidiary or a trustee or other fiduciary holding securities under an employee benefit plan of the Company or Subsidiary, is
or becomes the “Beneficial Owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the
Company representing 50% or more of the total voting power represented by the Company’s then outstanding capital stock, (ii) during
any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new director whose
election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3)
of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election
was previously so approved, cease for any reason to constitute a majority thereof, (iii) the stockholders of the Company approve a merger
or consolidation of the Company with any other corporation, other than a merger or consolidation that would result in the outstanding
capital stock of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being
converted into capital stock of the surviving entity) at least 50% of the total voting power represented by the capital stock of the
Company or such surviving entity outstanding immediately after such merger or consolidation, or (iv) the stockholders of the Company
approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company (in one transaction
or a series of transactions) of all or substantially all of the Company’s assets.

 

(c) Expenses.
For purposes of this Agreement, “Expenses” means all reasonable and documented direct and indirect costs of
any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements, and other out-of-pocket
costs), paid or incurred by Indemnitee in connection with either the investigation, defense or appeal of, or being a witness or otherwise
involved in, a Proceeding (as defined below), or establishing or enforcing a right to indemnification under this Agreement, Section 145
or otherwise; provided, however, that Expenses shall not include any judgments, fines, taxes (including ERISA or other benefit plan related
excise taxes or penalties) or amounts paid in settlement of a Proceeding.

 

(d)Indemnifiable
Event.For purposes of this Agreement, “Indemnifiable Event” means any event or occurrence related to
Indemnitee’s service for the Company or any Subsidiary or Affiliate as an Indemnifiable Person (as defined below), or by reason
of anything done or not done, or any act or omission, by Indemnitee in any such capacity.

 

(e) Indemnifiable
Person. For the purposes of this Agreement, “Indemnifiable Person” means any person who is or was a director,
officer, trustee, manager, member, partner, employee, attorney, consultant, member of an entity’s governing body (whether constituted
as a board of directors, board of managers, general partner or otherwise) or other agent or fiduciary of the Company or a Subsidiary
or Affiliate of the Company.

 

(f) Independent
Counsel. For purposes of this Agreement, “Independent Counsel” means legal counsel that has not performed
services for the Company or Indemnitee in the five years preceding the time in question and that would not, under applicable standards
of professional conduct, have a conflict of interest in representing either the Company or Indemnitee.

 

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(g) Independent
Director. For purposes of this Agreement, “Independent Director” means a member of the Board who is not
a party to the Proceeding for which a claim is made under this Agreement.

 

(h) Other
Liabilities. For purposes of this Agreement, “Other Liabilities” means any and all liabilities of any type
whatsoever (including, but not limited to, judgments, fines, penalties, taxes (including ERISA or other benefit plan related excise taxes
or penalties), and amounts paid in settlement and all interest, taxes, assessments and other charges paid or payable in connection with
or in respect of any such judgments, fines, ERISA (or other benefit plan related) excise taxes or penalties, or amounts paid in settlement).

 

(i) Proceeding.
For the purposes of this Agreement, “Proceeding” means any threatened, pending, or completed action, suit or
other proceeding, whether civil, criminal, administrative, investigative, legislative or any other type whatsoever, preliminary, informal
or formal, including any arbitration or other alternative dispute resolution and including any appeal of any of the foregoing.

 

(j) Subsidiary.
For purposes of this Agreement, “Subsidiary” means any entity of which more than 50% of the outstanding voting
securities is owned directly or indirectly by the Company.

 

2. Agreement
to Serve. The Indemnitee agrees to serve and/or continue to serve as an Indemnifiable Person in the capacity or capacities in which
Indemnitee currently serves the Company as an Indemnifiable Person, and any additional capacity in which Indemnitee may agree to serve,
until such time as Indemnitee’s service in a particular capacity shall end according to the terms of an agreement, the Company’s
Certificate of Incorporation or Bylaws, governing law, or otherwise. Nothing contained in this Agreement is intended to create any right
to continued employment or other form of service for the Company or a Subsidiary or Affiliate of the Company by Indemnitee.

 

3. Mandatory
Indemnification.

 

(a) Agreement
to Indemnify. In the event Indemnitee is a person who was or is a party to or witness in or is threatened to be made a party to or
witness in any Proceeding by reason of an Indemnifiable Event, the Company shall indemnify Indemnitee from and against any and all Expenses
and Other Liabilities incurred by Indemnitee in connection with (including in preparation for) such Proceeding to the fullest extent
not prohibited by the provisions of the Company’s Bylaws and the Delaware General Corporation Law (“DGCL”),
as the same may be amended from time to time (but only to the extent that such amendment permits the Company to provide broader indemnification
rights than the Bylaws or the DGCL permitted prior to the adoption of such amendment).

 

(b) Exception
for Amounts Covered by Insurance and Other Sources. Notwithstanding the foregoing, the Company shall not be obligated to indemnify
Indemnitee for Expenses or Other Liabilities of any type whatsoever (including, but not limited to judgments, fines, penalties, ERISA
excise taxes or penalties and amounts paid in settlement) to the extent such have been paid directly to Indemnitee (or paid directly
to a third party on Indemnitee’s behalf) by any directors and officers, or other type, of insurance maintained by the Company;
provided, however, that payment made to Indemnitee pursuant to an insurance policy purchased and maintained by Indemnitee
at his or her own expense of any amounts otherwise indemnifiable or obligated to be made pursuant to this Agreement shall not reduce
the Company’s obligations to Indemnitee pursuant to this Agreement.

 

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(c) Company
Obligations Primary. The Company hereby acknowledges that Indemnitee may have rights to indemnification for Expenses and Other Liabilities
provided by a venture capital firm or other sponsoring organization (“Other Indemnitor”). The Company agrees
with Indemnitee that the Company is the indemnitor of first resort of Indemnitee with respect to matters for which indemnification is
provided under this Agreement and that the Company will be obligated to make all payments due to or for the benefit of Indemnitee under
this Agreement without regard to any rights that Indemnitee may have against the Other Indemnitor. The Company hereby waives any equitable
rights to contribution or indemnification from the Other Indemnitor in respect of any amounts paid to Indemnitee hereunder. The Company
further agrees that no reimbursement of Other Liabilities or payment of Expenses by the Other Indemnitor to or for the benefit of Indemnitee
shall affect the obligations of the Company hereunder, and that the Company shall be obligated to repay the Other Indemnitor for all
amounts so paid or reimbursed to the extent that the Company has an obligation to indemnify Indemnitee for such Expenses or Other Liabilities
hereunder.

 

4. Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a
portion of any Expenses or Other Liabilities but not entitled, however, to indemnification for the total amount of such Expenses or Other
Liabilities, the Company shall nevertheless indemnify Indemnitee for such total amount except as to the portion thereof for which indemnification
is prohibited by the provisions of the Company’s Bylaws or the DGCL. In any review or Proceeding to determine the extent of indemnification,
the Company shall bear the burden to establish, by clear and convincing evidence, the lack of a successful resolution of a particular
claim, issue or matter and which amounts sought in indemnity are allocable to claims, issues or matters which were not successfully resolved.

 

5. Liability
Insurance. So long as Indemnitee shall continue to serve the Company or a Subsidiary or Affiliate of the Company as an Indemnifiable
Person and thereafter so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed Proceeding as
a result of an Indemnifiable Event, the Company shall use reasonable efforts to maintain in full force and effect for the benefit of
Indemnitee as an insured (i) liability insurance issued by one or more reputable insurers and having the policy amount and deductible
deemed appropriate by the Board and providing in all respects coverage at least comparable to and in the same amount as that provided
to the Chairman of the Board or the Chief Executive Officer of the Company and (ii) any replacement or substitute policies issued by
one or more reputable insurers providing in all respects coverage at least comparable to and in the same amount as that being provided
to the Chairman of the Board or the Chief Executive Officer of the Company. The purchase, establishment and maintenance of any such insurance
or other arrangements shall not in any way limit or affect the rights and obligations of the Company or of Indemnitee under this Agreement
except as expressly provided herein, and the execution and delivery of this Agreement by the Company and Indemnitee shall not in any
way limit or affect the rights and obligations of the Company or the other party or parties thereto under any such insurance or other
arrangement. In the event of a Change in Control subsequent to the date of this Agreement, or the Company’s becoming insolvent,
including being placed into receivership or entering the federal bankruptcy process, the Company shall use reasonable efforts to maintain
in force any and all insurance policies then maintained by the Company in providing insurance—directors’ and officers’
liability, fiduciary, employment practices or otherwise—in respect of the individual directors and officers of the Company, for
a fixed period of six years thereafter. Such coverage shall be non-cancelable and shall be placed and serviced by the Company’s
incumbent insurance broker or a broker selected by a majority of the Independent Directors.

 

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6. Mandatory
Advancement of Expenses. If requested by Indemnitee, the Company shall advance prior to the final disposition of the Proceeding all
Expenses incurred by Indemnitee in connection with (including in preparation for) a Proceeding related to an Indemnifiable Event within
(30) days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time
to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses
incurred by Indemnitee. The right to advances under this section shall in all events continue until final disposition of any Proceeding,
including any appeal therein. Indemnitee hereby undertakes to repay such amounts advanced if, and only if and to the extent that, it
shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement,
the Company’s Bylaws or the DGCL, and no additional form of undertaking with respect to such obligation to repay shall be required.
Indemnitee’s undertaking to repay any Expenses advanced to Indemnitee hereunder shall be unsecured and shall not be subject to
the accrual or payment of any interest thereon. In the event that Indemnitee’s request for the advancement of expenses shall be
accompanied by an affidavit of counsel to Indemnitee to the effect that such counsel has reviewed such Expenses and that such Expenses
are reasonable in such counsel’s view, then such expenses shall be deemed reasonable in the absence of clear and convincing evidence
to the contrary.

 

7. Notice
and Other Indemnification Procedures.

 

(a) Notification.
Promptly after receipt by Indemnitee of notice of the commencement of or the threat of commencement of any Proceeding, unless the Company
is a named co-defendant with Indemnitee, Indemnitee shall, if Indemnitee believes that indemnification or advancement of Expenses with
respect thereto may be sought from the Company under this Agreement, notify the Company of the commencement or threat of commencement
thereof. However, a failure so to notify the Company promptly following Indemnitee’s receipt of such notice shall not relieve the
Company from any liability that it may have to Indemnitee except to the extent that the Company is materially prejudiced in its defense
of such Proceeding as a result of such failure, provided, however, that the Company shall have the burden to prove the existence of such
material prejudice by clear and convincing evidence.

 

(b) Insurance
and Other Matters. If, at the time of the receipt of a notice of the commencement of a Proceeding pursuant to Section 7(a) above,
the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such
Proceeding to the issuers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all
reasonable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance
with the terms of such insurance policies. In addition, the Company will instruct the insurers and the Company’s insurance broker
that they may communicate directly with Indemnitee regarding such claim.

 

(c) Assumption
of Defense. In the event the Company shall be obligated to advance the Expenses for any Proceeding against Indemnitee, the Company,
if deemed appropriate by the Company, shall be entitled to assume the defense of such Proceeding as provided herein. Such defense by
the Company may include the representation of two or more parties by one attorney or law firm as permitted under the ethical rules and
legal requirements related to joint representations. Following delivery of written notice to Indemnitee of the Company’s election
to assume the defense of such Proceeding, the approval by Indemnitee (which approval shall not be unreasonably withheld) of counsel designated
by the Company and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for
any fees and expenses of counsel subsequently incurred by Indemnitee with respect to the same Proceeding. If (A) the employment of counsel
by Indemnitee has been previously authorized by the Company, (B) Indemnitee shall have notified the Board in writing that Indemnitee
has reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense,
(C) the Company fails to employ counsel to assume the defense of such Proceeding, or (D) after a Change in Control, the employment of
counsel by Indemnitee has been approved by the Independent Counsel, the Expenses related to work conducted by Indemnitee’s counsel
shall be subject to indemnification and/or advancement pursuant to the terms of this Agreement. Nothing herein shall prevent Indemnitee
from employing counsel for any such Proceeding at Indemnitee’s expense. Indemnitee agrees that any such separate counsel retained
by Indemnitee will be a member of any approved list of panel counsel under the Company’s applicable directors’ and officers’
insurance policy, should the applicable policy provide for a panel of approved counsel.

 

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(d) Settlement.
The Company shall not be liable to indemnify Indemnitee under this Agreement or otherwise for any amounts paid in settlement of any Proceeding
effected without the Company’s written consent; provided, however, that if a Change in Control has occurred subsequent to the date
of this Agreement, the Company shall be liable for indemnification of Indemnitee for amounts paid in settlement if the Independent Counsel
has approved the settlement. Neither the Company nor any Subsidiary or Affiliate shall enter into a settlement of any Proceeding that
might result in the imposition of any Expense, Other Liability, penalty, limitation or detriment on Indemnitee, whether indemnifiable
under this Agreement or otherwise, without Indemnitee’s written consent. Neither the Company nor Indemnitee shall unreasonably
withhold consent from any settlement of any Proceeding. The Company shall promptly notify Indemnitee upon the Company’s receipt
of an offer to settle, or if the Company makes an offer to settle, any Proceeding, and provide Indemnitee with a reasonable amount of
time to consider such settlement, in the case of any such settlement for which the consent of Indemnitee would be required hereunder.
The Company shall not, on its own behalf, settle any part of any Proceeding to which Indemnitee is a party with respect to other parties
(including the Company) without the written consent of Indemnitee if any portion of the settlement is to be funded from insurance proceeds
unless approved by a majority of the Independent Directors, provided that this sentence shall cease to be of any force and effect if
it has been determined in accordance with this Agreement that Indemnitee is not entitled to indemnification hereunder with respect to
such Proceeding or if the Company’s obligations hereunder to Indemnitee with respect to such Proceeding have been fully discharged.

 

8. Determination
of Right to Indemnification.

 

(a) Success
on the Merits or Otherwise. To the extent that Indemnitee has been successful on the merits or otherwise in defense of any Proceeding
referred to in Section 3(a) above or in the defense of any claim, issue or matter described therein, the Company shall indemnify Indemnitee
against Expenses actually and reasonably incurred in connection therewith.

 

(b) Indemnification
in Other Situations. In the event that Section 8(a) is inapplicable, the Company shall also indemnify Indemnitee if Indemnitee has
not failed to meet the applicable standard of conduct for indemnification.

 

(c) Forum.
Indemnitee shall be entitled to select the forum in which determination of whether or not Indemnitee has met the applicable standard
of conduct shall be decided, and such election will be made from among the following:

 

a. Those
members of the Board who are Independent Directors even though less than a quorum;

 

b. A
committee of Independent Directors designated by a majority vote of Independent Directors, even though less than a quorum; or

 

c. Independent
Counsel selected by Indemnitee and approved by the Board, which approval may not be unreasonably withheld, which counsel shall make such
determination in a written opinion.

 

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If
Indemnitee is an officer or a director of the Company at the time that Indemnitee is selecting the forum, then Indemnitee shall not select
Independent Counsel as such forum unless there are no Independent Directors or unless the Independent Directors agree to the selection
of Independent Counsel as the forum.

 

The
selected forum shall be referred to herein as the “Reviewing Party”. Notwithstanding the foregoing, following any Change
in Control subsequent to the date of this Agreement, the Reviewing Party shall be Independent Counsel selected in the manner provided
in c. above.

 

(d) Decision
Timing and Expenses. As soon as practicable, and in no event later than thirty (30) days after receipt by the Company of written
notice of Indemnitee’s choice of forum pursuant to Section 8(c) above, the Company and Indemnitee shall each submit to the Reviewing
Party such information as they believe is appropriate for the Reviewing Party to consider. The Reviewing Party shall arrive at its decision
within a reasonable period of time following the receipt of all such information from the Company and Indemnitee, but in no event later
than thirty (30) days following the receipt of all such information, provided that the time by which the Reviewing Party must reach a
decision may be extended by mutual agreement of the Company and Indemnitee. All Expenses associated with the process set forth in this
Section 8(d), including but not limited to the Expenses of the Reviewing Party, shall be paid by the Company.

 

(e) Delaware
Court of Chancery. Notwithstanding a final determination by any Reviewing Party that Indemnitee is not entitled to indemnification
with respect to a specific Proceeding, Indemnitee shall have the right to apply to the Court of Chancery, for the purpose of enforcing
Indemnitee’s right to indemnification pursuant to this Agreement.

 

(f) Expenses.
The Company shall indemnify Indemnitee against all Expenses incurred by Indemnitee in connection with any hearing or Proceeding under
this Section 8 involving Indemnitee and against all Expenses and Other Liabilities incurred by Indemnitee in connection with any other
Proceeding between the Company and Indemnitee involving the interpretation or enforcement of the rights of Indemnitee under this Agreement
unless a court of competent jurisdiction finds that each of the material claims of Indemnitee in any such Proceeding was frivolous or
made in bad faith.

 

(g) Determination
of “Good Faith”. For purposes of any determination of whether Indemnitee acted in “good faith” or acted in
“bad faith”, Indemnitee shall be deemed to have acted in good faith or not acted in bad faith if in taking or failing to
take the action in question Indemnitee relied on the records or books of account of the Company or a Subsidiary or Affiliate, including
financial statements, or on information, opinions, reports or statements provided to Indemnitee by the officers or other employees of
the Company or a Subsidiary or Affiliate in the course of their duties, or on the advice of legal counsel for the Company or a Subsidiary
or Affiliate, or on information or records given or reports made to the Company or a Subsidiary or Affiliate by an independent certified
public accountant or by an appraiser or other expert selected by the Company or a Subsidiary or Affiliate, or by any other person (including
legal counsel, accountants and financial advisors) as to matters Indemnitee reasonably believes are within such other person’s
professional or expert competence and who has been selected with reasonable care by or on behalf of the Company or a Subsidiary or Affiliate.
In connection with any determination as to whether Indemnitee is entitled to be indemnified hereunder, or to advancement of Expenses,
the Reviewing Party or court shall presume that Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification
or advancement of Expenses, as the case may be, and the burden of proof shall be on the Company to establish, by clear and convincing
evidence, that Indemnitee is not so entitled. The provisions of this Section 8(g) shall not be deemed to be exclusive or to limit in
any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.
In addition, the knowledge and/or actions, or failures to act, of any other person serving the Company or a Subsidiary or Affiliate as
an Indemnifiable Person shall not be imputed to Indemnitee for purposes of determining the right to indemnification hereunder.

 

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9. Exceptions.
Any other provision herein to the contrary notwithstanding,

 

(a) Claims
Initiated by Indemnitee. The Company shall not be obligated pursuant to the terms of this Agreement to indemnify or advance Expenses
to Indemnitee with respect to Proceedings or claims initiated or brought voluntarily by Indemnitee and not by way of defense, except
(1) with respect to Proceedings brought to establish or enforce a right to indemnification under this Agreement, any other statute or
law, as permitted under Section 145, or otherwise, (2) where the Board has consented to the initiation of such Proceeding, or (3) with
respect to Proceedings brought to discharge Indemnitee’s fiduciary responsibilities, whether under ERISA or otherwise, but such
indemnification or advancement of Expenses may be provided by the Company in specific cases if the Board finds it to be appropriate;
or

 

(b) Actions
Based on Federal Statutes Regarding Profit Recovery and Return of Bonus Payments. The Company shall not be obligated pursuant to
the terms of this Agreement to indemnify Indemnitee on account of (i) any suit in which judgment is rendered against Indemnitee by a
court of competent jurisdiction in a final adjudication not subject to further appeal for an accounting of profits made from the purchase
or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of l934
and amendments thereto or similar provisions of any federal, state or local statutory law, or (ii) any reimbursement of the Company by
the Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by the Indemnitee from the
sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from
an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”),
or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of
the Sarbanes-Oxley Act); or

 

(c) Unlawful
Indemnification. The Company shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee for Other Liabilities
if such indemnification is prohibited by law as determined by a court of competent jurisdiction in a final adjudication not subject to
further appeal.

 

10. Non-exclusivity.
The provisions for indemnification and advancement of Expenses set forth in this Agreement shall not be deemed exclusive of any other
rights which Indemnitee may have under any provision of law, the Company’s Certificate of Incorporation or Bylaws, the vote of
the Company’s stockholders or disinterested directors, other agreements, or otherwise, both as to acts or omissions in his or her
official capacity and to acts or omissions in another capacity while serving the Company or a Subsidiary or Affiliate as an Indemnifiable
Person and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased serving the Company or a Subsidiary or Affiliate
as an Indemnifiable Person and shall inure to the benefit of the heirs, executors and administrators of Indemnitee.

 

11. Severability.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (i)
the validity, legality and enforceability of the remaining provisions of the Agreement (including, without limitation, all portions of
any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves
invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (ii) to the fullest extent possible, the
provisions of this Agreement (including, without limitation, all portions of any paragraphs of this Agreement containing any such provision
held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to
give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 

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12. Supersession,
Modification and Waiver. This Agreement supersedes any prior indemnification agreement between the Indemnitee and the Company, its
Subsidiaries or its Affiliates. If the Company and Indemnitee have previously entered into an indemnification agreement providing for
the indemnification of Indemnitee by the Company, parties entry into this Agreement shall be deemed to amend and restate such prior agreement
to read in its entirety as, and be superseded by, this Agreement. No supplement, modification or amendment of this Agreement shall be
binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed
or shall constitute a waiver of any other provision hereof (whether or not similar) and except as expressly provided herein, no such
waiver shall constitute a continuing waiver.

 

13. Successors
and Assigns. The terms of this Agreement shall bind, and shall inure to the benefit of, and be enforceable by the parties hereto
and their respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or
substantially all of the business and/or assets of the Company), assigns, spouses, heirs and personal and legal representatives. In addition,
the Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all,
substantially all, or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory
to Indemnitee, expressly to assume and agree to perform this Agreement and indemnify Indemnitee to the fullest extent permitted by
law.

 

14. Notice.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed duly given (i) if
delivered by hand and a receipt is provided by the party to whom such communication is delivered, (ii) if mailed by certified or registered
mail with postage prepaid, return receipt requested, on the signing by the recipient of an acknowledgement of receipt form accompanying
delivery through the U.S. mail, (iii) by personal service by a process server, or (iv) by delivery to the recipient’s address by
overnight delivery (e.g., FedEx, UPS or DHL) or other commercial delivery service. Addresses for notice to either party are as shown
on the signature page of this Agreement, or as subsequently modified by written notice complying with the provisions of this Section
14. Delivery of communications to the Company with respect to this Agreement shall be sent to the attention of the Company’s Chief
Legal Officer.

 

15. No
Presumptions. For purposes of this Agreement, the termination of any Proceeding, by judgment, order, settlement (whether with or
without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption
that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification
is not permitted by applicable law or otherwise. In addition, neither the failure of the Company or a Reviewing Party to have made a
determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief, nor an actual determination
by the Company or a Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement
of Proceedings by Indemnitee to secure a judicial determination by exercising Indemnitee’s rights under Section 8(e) of this Agreement
shall be a defense to Indemnitee’s claim or create a presumption that Indemnitee has failed to meet any particular standard of
conduct or did not have any particular belief or is not entitled to indemnification under applicable law or otherwise. Additionally,
any admission of liability by the Company in connection with any settlement by the Company with a regulatory agency shall not, of itself,
create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has
determined that indemnification is not permitted by applicable law or otherwise.

 

    9

     

    

 

16. Survival
of Rights. The rights conferred on Indemnitee by this Agreement shall continue after Indemnitee has ceased to serve the Company or
a Subsidiary or Affiliate of the Company as an Indemnifiable Person and shall inure to the benefit of Indemnitee’s heirs, executors
and administrators.

 

17. Subrogation
and Contribution. (a) Except as otherwise expressly provided in this Agreement, in the event of payment under this Agreement, the
Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all documents
required and shall do all acts that may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce
such rights.

 

(b)
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee
for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by or on behalf of
Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection
with any claim relating to an Indemnifiable Event under this Agreement, in such proportion as is deemed fair and reasonable in light
of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as
a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its
directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

 

18. Specific
Performance, Etc. The parties recognize that if any provision of this Agreement is violated by the Company, Indemnitee may be without
an adequate remedy at law. Accordingly, in the event of any such violation, Indemnitee shall be entitled, if Indemnitee so elects, to
institute Proceedings, either in law or at equity, to obtain damages, to enforce specific performance, to enjoin such violation, or to
obtain any relief or any combination of the foregoing as Indemnitee may elect to pursue.

 

19. Counterparts.
This Agreement may be executed in counterparts, each of which shall for all purposes be deemed to be an original but all of which together
shall constitute one and the same agreement. Only one such counterpart signed by the party against whom enforceability is sought needs
to be produced to evidence the existence of this Agreement.

 

20. Headings.
The headings of the sections and paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction or interpretation thereof.

 

21. Governing
Law. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as applied to
contracts between Delaware residents entered into and to be performed entirely with Delaware.

 

22. Consent
to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of the State of Delaware
for all purposes in connection with any Proceeding which arises out of or relates to this Agreement.

 

[Signature
Page Follows]

 

    10

     

    

 

The
parties hereto have entered into this Indemnity Agreement effective as of the date first above written.

 

	 	 	PROTERRA INC:
	 	 	 	 
	 	 	By:	                
	 	 	 	 
	 	 	Its:	 
	 	 	 	 
	 	 	INDEMNITEE:
	 	 	 	 
	 	 	 
	 	 	 	 
	 	Address:	 
	 	 	 	 
	 	 	 

 

 

 

 

 

 

SIGNATURE PAGE TO INDEMNIFICATION AGREEMENTExhibit
10.2

 

PROTERRA
INC

 

2010
EQUITY INCENTIVE PLAN

 

As
last amended December 11, 2020

 

		1.	Purposes
                                         of the Plan. The purposes of this Plan are:

 

		●	to
                                         attract and retain the best available personnel for positions of substantial responsibility,

 

		●	to
                                         provide additional incentive to Employees, Directors and Consultants, and

 

		●	to
                                         promote the success of the Company’s business.

 

The
Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock and
Restricted Stock Units.

 

		2.	Definitions.
                                         As used herein, the following definitions will apply:

 

(a) “Administrator”
means the Board or any of its Committees as will be administering the Plan, in accordance with Section 4 of the Plan.

 

(b) “Applicable
Laws” means the requirements relating to the administration of equity-based awards under U.S. state corporate laws,
U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or
quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan.

 

(c) “Award”
means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, or Restricted
Stock Units.

 

(d) “Award
Agreement” means the written or electronic agreement setting forth the terms and provisions applicable to each Award
granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.

 

 (e) “Board” means the Board of Directors of the Company.

 

 (f) “Change in Control” means the occurrence of any of the following events:

 

(i) Change
in Ownership of the Company. A change in the ownership of the Company which occurs on the date that any one person, or more
than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the
stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company, except that any change
in the ownership of the stock of the Company as a result of a private financing of the Company that is approved by the Board will
not be considered a Change in Control; or

 

     

     

    

 

(ii) Change
in Effective Control of the Company. If the Company has a class of securities registered pursuant to Section 12 of the Exchange
Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced
during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of
the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be
in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered
a Change in Control; or

 

(iii) Change
in Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a substantial portion of
the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (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 prior
to such acquisition or acquisitions. For purposes of this subsection (iii), 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.

 

For
purposes of this Section 2(f), persons will be considered to be acting as a 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 Company.

 

Notwithstanding
the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event
within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury
Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time.

 

Further
and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole purpose is to change the
jurisdiction of the Company’s incorporation, (ii) its sole purpose is to create a holding company that will be owned in
substantially the same proportions by the persons who held the Company’s securities immediately before such transaction,
(iii) the shares of the Company’s capital stock outstanding immediately prior to such transaction represent, or are converted
into or exchanged for equity securities that represent, immediately following such transaction, at least a majority of the total
voting power of the equity securities of the Person acquiring control of the Company pursuant to Section 2(f)(i), 2(f)(ii) or
2(f)(iii) above.

 

(g) “Code”
means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will be a reference to any
successor or amended section of the Code.

 

(h) “Committee”
means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board, or by the compensation
committee of the Board, in accordance with Section 4 hereof.

 

 (i) “Common Stock” means the common stock of the Company.

 

 (j) “Company” means Proterra Inc, a Delaware corporation, or any successor thereto.

 

    -2-

     

    

 

(k) “Consultant”
means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to render services to such entity.

 

 (l) “Director” means a member of the Board.

 

(m) “Disability”
means total and permanent disability as defined in Code Section 22(e)(3), provided that in the case of Awards other than Incentive
Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance
with uniform and non-discriminatory standards adopted by the Administrator from time to time.

 

(n) “Employee”
means any person, including officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither
service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment”
by the Company.

 

 (o) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

(p) “Exchange
Program” means a program under which (i) outstanding Awards are surrendered or cancelled in exchange for Awards of the
same type (which may have higher or lower exercise prices and different terms), Awards of a different type, and/or cash, (ii)
Participants would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity
selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is reduced or increased. The Administrator
will determine the terms and conditions of any Exchange Program in its sole discretion.

 

(q) “Fair
Market Value” means, as of any date, the value of Common Stock determined as follows:

 

(i) If
the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq
Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value
will be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system
on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable;

 

(ii) If
the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value
of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if
no bids and asks were reported on that date, as applicable, on the last trading date such bids and asks were reported), as reported
in The Wall Street Journal or such other source as the Administrator deems reliable; or

 

(iii) In
the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator.

 

    -3-

     

    

 

(r) “Incentive
Stock Option” means an Option that by its terms qualifies and is otherwise intended to qualify as an incentive stock
option within the meaning of Code Section 422 and the regulations promulgated thereunder.

 

(s) “Nonstatutory
Stock Option” means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock
Option.

 

 (t) “Option” means a stock option granted pursuant to the Plan.

 

(u) “Parent”
means a “parent corporation,” whether now or hereafter existing, as defined in Code Section 424(e).

 

 (v) “Participant” means the holder of an outstanding Award.

 

(w) “Period
of Restriction” means the period during which the transfer of Shares of Restricted Stock are subject to restrictions
and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time,
the achievement of target levels of performance, or the occurrence of other events as determined by the Administrator.

 

 (x) “Plan” means this 2010 Equity Incentive Plan.

 

(y) “Restricted
Stock” means Shares issued pursuant to an Award of Restricted Stock under Section 8 of the Plan, or issued pursuant
to the early exercise of an Option.

 

(z) “Restricted
Stock Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant
to Section 9. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

 

(aa)“Service
Provider” means an Employee, Director or Consultant.

 

(bb)“Share”
means a share of the Common Stock, as adjusted in accordance with Section 13 of the Plan.

 

(cc)“Stock
Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to Section 7 is designated
as a Stock Appreciation Right.

 

(dd)“Subsidiary”
means a “subsidiary corporation,” whether now or hereafter existing, as defined in Code Section 424(f).

 

		3.	Stock
                                         Subject to the Plan.

 

(a) Stock
Subject to the Plan. Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may
be subject to Awards and sold under the Plan

is
31,994,478 Shares. The Shares may be authorized but unissued, or reacquired Common Stock.

 

    -4-

     

    

 

(b) Lapsed
Awards. If an Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an
Exchange Program, or, with respect to Restricted Stock or Restricted Stock Units, is forfeited to or repurchased by the
Company due to the failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the
forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan
(unless the Plan has terminated). With respect to Stock Appreciation Rights, only Shares actually issued pursuant to a Stock
Appreciation Right will cease to be available under the Plan; all remaining Shares under Stock Appreciation Rights will
remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been
issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution
under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock or Restricted Stock Units are
repurchased by the Company or are forfeited to the Company due to the failure to vest, such Shares will become available for
future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations
related to an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is
paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for
issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 13, the maximum
number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated
in Section 3(a), plus, to the extent allowable under Code Section 422 and the Treasury Regulations promulgated thereunder,
any Shares that become available for issuance under the Plan pursuant to Section 3(b).

 

(c) Share
Reserve. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as
will be sufficient to satisfy the requirements of the Plan.

 

		4.	Administration
                                         of the Plan.

 

 (a) Procedure.

 

(i) Multiple
Administrative Bodies. Different Committees with respect to different groups of Service Providers may administer the Plan.

 

(ii) Other
Administration. Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee, which Committee
will be constituted to satisfy Applicable Laws.

 

(b) Powers
of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties
delegated by the Board to such Committee, the Administrator will have the authority, in its discretion:

 

 (i) to determine the Fair Market Value;

 

(ii)
to select the Service Providers to whom Awards may be granted hereunder;

 

(iii)
to determine the number of Shares to be covered by each Award granted hereunder;

  

 (iv) to approve forms of Award Agreements for use under the Plan;

 

    -5-

     

    

 

(v) to
determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based
on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding
any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine;

 

(vi)
to institute and determine the terms and conditions of an Exchange Program;

 

(vii)
to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan;

  

(viii)
to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable
foreign laws;

 

(ix) to
modify or amend each Award (subject to Section 18(c) of the Plan), including but not limited to the discretionary authority to
extend the post-termination exercisability period of Awards and to extend the maximum term of an Option (subject to Section 6(d));

 

(x) to
allow Participants to satisfy withholding tax obligations in a manner prescribed in Section 14;

 

(xi) to
authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted
by the Administrator;

 

(xii) to
allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that otherwise would be due to such
Participant under an Award; and

 

(xiii) to
make all other determinations deemed necessary or advisable for administering the Plan.

 

(c) Effect
of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations will be final and
binding on all Participants and any other holders of Awards.

 

		5.	Eligibility.
Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, and Restricted Stock Units may be granted to Service
Providers. Incentive Stock Options may be granted only to Employees.

 

		6.	Stock
                                         Options.

 

(a) Grant
of Options. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant
Options in such amounts as the Administrator, in its sole discretion, will determine.

 

    -6-

     

    

 

(b) Option
Agreement. Each Award of an Option will be evidenced by an Award Agreement that will specify the exercise price, the term
of the Option, the number of Shares subject to the Option, the exercise restrictions, if any, applicable to the Option, and such
other terms and conditions as the Administrator, in its sole discretion, will determine.

 

(c) Limitations.
Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. Notwithstanding
such designation, however, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock
Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any
Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options will be treated as Nonstatutory Stock Options.
For purposes of this Section 6(c), Incentive Stock Options will be taken into account in the order in which they were granted,
the Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted, and calculation
will be performed in accordance with Code Section 422 and Treasury Regulations promulgated thereunder.

 

(d) Term
of Option. The term of each Option will be stated in the Award Agreement; provided, however, that the term will be no more
than ten (10) years from the date of grant thereof. In the case of an Incentive Stock Option granted to a Participant who, at
the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting
power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five
(5) years from the date of grant or such shorter term as may be provided in the Award Agreement.

 

 (e) Option Exercise Price and Consideration.

 

(i) Exercise
Price. The per Share exercise price for the Shares to be issued pursuant to the exercise of an Option will be determined by
the Administrator, but will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.
In addition, in the case of an Incentive Stock Option granted to an Employee who owns stock representing more than ten percent
(10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will
be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. Notwithstanding the foregoing
provisions of this Section 6(e)(i), Options may be granted with a per Share exercise price of less than one hundred percent (100%)
of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with,
Code Section 424(a).

 

(ii) Waiting
Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option
may be exercised and will determine any conditions that must be satisfied before the Option may be exercised.

 

(iii)
Form of Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option,
including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form
of consideration at the time of grant. Such consideration may consist entirely of: (1) cash; (2) check; (3) promissory note, to
the extent permitted by Applicable Laws, (4) other Shares, provided that such Shares have a Fair Market Value on the date of surrender
equal to the aggregate exercise price of the Shares as to which such Option will be exercised and provided further that accepting
such Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole
discretion; (5) consideration received by the Company under cashless exercise program (whether through a broker or otherwise)
implemented by the Company in connection with the Plan; (6) by net exercise, (7) such other consideration and method of payment
for the issuance of Shares to the extent permitted by Applicable Laws, or (8) any combination of the foregoing methods of payment.
In making its determination as to the type of consideration to accept, the Administrator will consider if acceptance of such consideration
may be reasonably expected to benefit the Company.

 

    -7-

     

    

 

 (f) Exercise of Option.

 

(i) Procedure
for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the Plan
and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option
may not be exercised for a fraction of a Share.

 

An
Option will be deemed exercised when the Company receives:

 

(i) notice
of exercise (in such form as the Administrator may specify from time to time) from the person entitled to exercise the Option,
and (ii) full payment for the Shares with respect to which the Option is exercised (together with applicable tax withholding).
Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award
Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested
by the Participant, in the name of the Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends
or any other rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise
of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment
will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided
in Section 13 of the Plan.

 

Exercising
an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under
the Option, by the number of Shares as to which the Option is exercised.

 

(ii) Termination
of Relationship as a Service Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s
termination as the result of the Participant’s death or Disability, the Participant may exercise his or her Option within
thirty (30) days of termination, or such longer period of time as is specified in the Award Agreement (but in no event later than
the expiration of the term of such Option as set forth in the Award Agreement) to the extent that the Option is vested on the
date of termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested
as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination
the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate,
and the Shares covered by such Option will revert to the Plan.

 

    -8-

     

    

 

(iii) Disability
of Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the Participant
may exercise his or her Option within six (6) months of termination, or such longer period of time as is specified in the Award
Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement) to the extent
the Option is vested on the date of termination. Unless otherwise provided by the Administrator, if on the date of termination
the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert
to the Plan. If after termination the Participant does not exercise his or her Option within the time specified herein, the Option
will terminate, and the Shares covered by such Option will revert to the Plan.

 

(iv) Death
of Participant. If a Participant dies while a Service Provider, the Option may be exercised within six (6) months following
the Participant’s death, or within such longer period of time as is specified in the Award Agreement (but in no event later
than the expiration of the term of such Option as set forth in the Award Agreement) to the extent that the Option is vested on
the date of death, by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to the
Participant’s death in a form acceptable to the Administrator. If no such beneficiary has been designated by the Participant,
then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom
the Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution.
Unless otherwise provided by the Administrator, if at the time of death Participant is not vested as to his or her entire Option,
the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised
within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

 

		7.	Stock
Appreciation Rights.

 

(a) Grant
of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to
Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion.

 

(b) Number
of Shares. The Administrator will have complete discretion to determine the number of Shares subject to any Award of Stock
Appreciation Rights.

 

(c) Exercise
Price and Other Terms. The per Share exercise price for the Shares that will determine the amount of the payment to be received
upon exercise of a Stock Appreciation Right as set forth in Section 7(f) will be determined by the Administrator and will be no
less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. Otherwise, the Administrator, subject
to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Stock Appreciation Rights
granted under the Plan.

 

(d) Stock
Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify
the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions
as the Administrator, in its sole discretion, will determine.

 

(e) Expiration
of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon the date determined by
the Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of
Section 6(d) relating to the maximum term and Section 6(f) relating to exercise also will apply to Stock Appreciation
Rights.

 

    -9-

     

    

 

(f) Payment
of Stock Appreciation Right Amount. Upon exercise of a Stock Appreciation Right, a Participant will be entitled to receive
payment from the Company in an amount determined by multiplying:

 

(i) The
difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

 

(ii)
The number of Shares with respect to which the Stock Appreciation Right is exercised.

 

At
the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent
value, or in some combination thereof.

 

		8.	Restricted
                                         Stock.

 

(a) Grant
of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time,
may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine.

 

(b) Restricted
Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of Restriction,
the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine.
Unless the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until the restrictions
on such Shares have lapsed.

 

(c) Transferability.
Except as provided in this Section 8 or as the Administrator determines, Shares of Restricted Stock may not be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction.

 

(d) Other
Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock
as it may deem advisable or appropriate.

 

(e) Removal
of Restrictions. Except as otherwise provided in this Section 8, Shares of Restricted Stock covered by each Restricted Stock
grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction
or at such other time as the Administrator may determine. The Administrator, in its discretion, may accelerate the time at which
any restrictions will lapse or be removed.

 

(f) Voting
Rights. During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise
full voting rights with respect to those Shares, unless the Administrator determines otherwise.

 

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(g) Dividends
and Other Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be
entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides
otherwise. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions on
transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid.

 

(h) Return
of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions
have not lapsed will revert to the Company and again will become available for grant under the Plan.

 

		9.	Restricted
                                         Stock Units.

 

(a) Grant.
Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the Administrator
determines that it will grant Restricted Stock Units, it will advise the Participant in an Award Agreement of the terms, conditions,
and restrictions related to the grant, including the number of Restricted Stock Units.

 

(b) Vesting
Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the extent to
which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The
Administrator may set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals (including,
but not limited to, continued employment or service), or any other basis determined by the Administrator in its discretion.

 

(c) Earning
Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a payout
as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the
Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout.

 

(d) Form
and Timing of Payment. Payment of earned Restricted Stock Units will be made as soon as practicable after the date(s) determined
by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Restricted
Stock Units in cash, Shares, or a combination of both.

 

(e) Cancellation.
On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the Company.

 

		10.	Compliance
With Code Section 409A. Awards will be designed and operated in such a manner that they are either exempt from the application
of, or comply with, the requirements of Code Section 409A, except as otherwise determined in the sole discretion of the Administrator.
The Plan and each Award Agreement under the Plan is intended to meet the requirements of Code Section 409A and will be construed
and interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. To
the extent that an Award or payment, or the settlement or deferral thereof, is subject to Code Section 409A the Award will be
granted, paid, settled or deferred in a manner that will meet the requirements of Code Section 409A, such that the grant, payment,
settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A.

 

    -11-

     

    

 

		11.	Leaves
of Absence/Transfer Between Locations. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will
be suspended during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of (i) any leave of
absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, or any
Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration
of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company
is not so guaranteed, then six (6) months following the first (1st) day of such leave, any Incentive Stock Option held
by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory
Stock Option.

 

		12.	Limited
                                         Transferability of Awards.

 

(a) Unless
determined otherwise by the Administrator, Awards may not be sold, pledged, assigned, hypothecated, or otherwise transferred in
any manner other than by will or by the laws of descent and distribution, and may be exercised, during the lifetime of the Participant,
only by the Participant. If the Administrator makes an Award transferable, such Award may only be transferred (i) by will, (ii)
by the laws of descent and distribution, or (iii) as permitted by Rule 701 of the Securities Act of 1933, as amended (the “Securities
Act”).

 

(b) Further,
until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, or after the Administrator
determines that it is, will, or may no longer be relying upon the exemption from registration under the Exchange Act as set forth
in Rule 12h-1(f) promulgated under the Exchange Act, an Option, or prior to exercise, the Shares subject to the Option, may not
be pledged, hypothecated or otherwise transferred or disposed of, in any manner, including by entering into any short position,
any “put equivalent position” or any “call equivalent position” (as defined in Rule 16a-1(h) and Rule
16a-1(b) of the Exchange Act, respectively), other than to (i) persons who are “family members” (as defined in Rule
701(c)(3) of the Securities Act) through gifts or domestic relations orders, or (ii) to an executor or guardian of the Participant
upon the death or disability of the Participant. Notwithstanding the foregoing sentence, the Administrator, in its sole discretion,
may determine to permit transfers to the Company or in connection with a Change in Control or other acquisition transactions involving
the Company to the extent permitted by Rule 12h-1(f).

 

		13.	Adjustments;
                                         Dissolution or Liquidation; Merger or Change in Control.

 

(a) Adjustments.
In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase,
or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting
the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended
to be made available under the Plan, will adjust the number and class of Shares that may be delivered under the Plan and/or the
number, class, and price of Shares covered by each outstanding Award.

 

    -12-

     

    

 

(b) Dissolution
or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will notify
each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not
been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action.

 

(c) Merger
or Change in Control. In the event of a merger or Change in Control, each outstanding Award will be treated as the
Administrator determines (subject to the provisions of the proceeding paragraph) without a Participant’s consent,
including, without limitation, that (i) Awards will be assumed, or substantially equivalent Awards will be substituted, by
the acquiring or succeeding corporation (or an affiliate thereof) with appropriate adjustments as to the number and kind of
shares and prices; (ii) upon written notice to a Participant, that the Participant’s Awards will terminate upon or
immediately prior to the consummation of such merger or Change in Control; (iii) outstanding Awards will vest and become
exercisable, realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part prior to or upon
consummation of such merger or Change in Control, and, to the extent the Administrator determines, terminate upon or
immediately prior to the effectiveness of such merger or Change in Control; (iv) (A) the termination of an Award in exchange
for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such
Award or realization of the Participant’s rights as of the date of the occurrence of the transaction (and, for the
avoidance of doubt, if as of the date of the occurrence of the transaction the Administrator determines in good faith that no
amount would have been attained upon the exercise of such Award or realization of the Participant’s rights, then such
Award may be terminated by the Company without payment), or (B) the replacement of such Award with other rights or property
selected by the Administrator in its sole discretion; or (v) any combination of the foregoing. In taking any of the actions
permitted under this subsection 13(c), the Administrator will not be obligated to treat all Awards, all Awards held by a
Participant, or all Awards of the same type, similarly.

 

In
the event that the successor corporation does not assume or substitute for the Award (or portion thereof), the Participant will
fully vest in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares
as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock
Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria
will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met. In addition, if
an Option or Stock Appreciation Right is not assumed or substituted in the event of a merger or Change in Control, the Administrator
will notify the Participant in writing or electronically that the Option or Stock Appreciation Right will be exercisable for a
period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate
upon the expiration of such period.

 

For
the purposes of this subsection 13(c), an Award will be considered assumed if, following the merger or Change in Control, the
Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the merger or Change
in Control, the consideration (whether stock, cash, or other securities or property) received in the merger or Change in
Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered
a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares);
provided, however, that if such consideration received in the merger or Change in Control is not solely common stock of the
successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the
consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted
Stock Unit, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal
in fair market value to the per share consideration received by holders of Common Stock in the merger or Change in
Control.

 

    -13-

     

    

 

Notwithstanding
anything in this Section 13(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more
performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without
the Participant’s consent; provided, however, a modification to such performance goals only to reflect the successor corporation’s
post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

 

Notwithstanding
anything in this Section 13(c) to the contrary, if a payment under an Award Agreement is subject to Code Section 409A and if the
change in control definition contained in the Award Agreement does not comply with the definition of “change of control”
for purposes of a distribution under Code Section 409A, then any payment of an amount that is otherwise accelerated under this
Section will be delayed until the earliest time that such payment would be permissible under Code Section 409A without triggering
any penalties applicable under Code Section 409A.

 

		14.	Tax
                                         Withholding.

 

(a) Withholding
Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof), the Company will have
the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy
federal, state, local, foreign or other taxes (including the Participant’s FICA obligation) required to be withheld with
respect to such Award (or exercise thereof).

 

(b) Withholding
Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to
time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (i)
paying cash, (ii) electing to have the Company withhold otherwise deliverable Shares having a Fair Market Value equal to the
minimum statutory amount required to be withheld, (iii) delivering to the Company already-owned Shares having a Fair Market
Value equal to the statutory amount required to be withheld, provided the delivery of such Shares will not result in any
adverse accounting consequences, as the Administrator determines in its sole discretion, or (iv) selling a sufficient number
of Shares otherwise deliverable to the Participant through such means as the Administrator may determine in its sole
discretion (whether through a broker or otherwise) equal to the amount required to be withheld. The amount of the withholding
requirement will be deemed to include any amount which the Administrator agrees may be withheld at the time the election is
made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax rates applicable
to the Participant with respect to the Award on the date that the amount of tax to be withheld is to be determined. The Fair
Market Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be
withheld.

 

		15.	No
                                         Effect on Employment or Service. Neither the Plan nor any Award will confer upon
                                         a Participant any right with respect to continuing the Participant’s relationship
                                         as a Service Provider with the Company, nor will they interfere in any way with the Participant’s
                                         right or the Company’s right to terminate such relationship at any time, with or
                                         without cause, to the extent permitted by Applicable Laws.

 

    -14-

     

    

  

		16.	Date
of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination
granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided
to each Participant within a reasonable time after the date of such grant.

 

		17.	Term
of Plan. Subject to Section 21 of the Plan, the Plan will become effective upon its adoption by the Board. Unless sooner terminated
under Section 18, it will continue in effect until November 20, 2029.

 

		18.	Amendment
                                         and Termination of the Plan.

 

(a) Amendment
and Termination. The Board may at any time amend, alter, suspend or terminate the Plan.

 

(b) Stockholder
Approval. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply
with Applicable Laws.

 

(c) Effect
of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan will impair the rights of any
Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing
and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator’s ability to exercise
the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.

 

		19.	Conditions
                                         Upon Issuance of Shares.

 

(a) Legal
Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance
and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company
with respect to such compliance.

 

(b) Investment
Representations. As a condition to the exercise of an Award, the Company may require the person exercising such Award to represent
and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention
to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required.

 

		20.	Inability
to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which
authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will
relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority
will not have been obtained.

 

		21.	Stockholder
Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months after the date
the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable
Laws.

 

		22.	Information
to Participants. Beginning on the earlier of (i) the date that the aggregate number of Participants under this Plan is five
hundred (500) or more and the Company is relying on the exemption provided by Rule 12h-1(f)(1) under the Exchange Act and (ii)
the date that the Company is required to deliver information to Participants pursuant to Rule 701 under the Securities Act, and
until such time as the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, is no
longer relying on the exemption provided by Rule 12h-1(f)(1) under the Exchange Act or is no longer required to deliver information
to Participants pursuant to Rule 701 under the Securities Act, the Company shall provide to each Participant the information described
in paragraphs (e)(3), (4), and (5) of Rule 701 under the Securities Act not less frequently than every six (6) months with the
financial statements being not more than 180 days old and with such information provided either by physical or electronic delivery
to the Participants or by written notice to the Participants of the availability of the information on an Internet site that may
be password-protected and of any password needed to access the information. The Company may request that Participants agree to
keep the information to be provided pursuant to this section confidential. If a Participant does not agree to keep the information
to be provided pursuant to this section confidential, then the Company will not be required to provide the information unless
otherwise required pursuant to Rule 12h-1(f)(1) under the Exchange Act or Rule 701 of the Securities Act.

 

 

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