Document:

EX-10.1

 Exhibit 10.1 

 
 

 
 April 18, 2013 
 Re: EnerNOC Chief Financial Officer 
 Dear Neil, 

I am very pleased to offer you a position as EnerNOC’s Chief Financial Officer. As Chief Financial Officer, you will assume the responsibilities of
managing EnerNOC’s financial operations as directed by the Chief Executive Officer of the company, to whom you will report. In addition to finance and accounting, you will be responsible for facilities, investor relations, operations,
information technology and other operational areas as assigned to you from time to time by the CEO and board of directors. This letter will confirm our offer of employment under the terms and conditions that follow: 

Offer Specifics: 
  

	 	•	 	 Start Date: April 22, 2013 

	 	•	 	 Salary: Biweekly salary of $19,038.47 ($495,000.22 annually), payable in accordance with the Company’s standard payroll policies in effect
from time to time. Periods of less than two weeks will be prorated accordingly. 

	 	•	 	 Bonus Plan: During employment, you will be considered annually for a bonus pursuant to EnerNOC’s annual program, as amended
and in effect from time to time. Your target bonus will be 80% of your base salary. The amount of the bonus that will be payable to you, if any, will be determined based solely on the achievement of certain predetermined corporate performance
objectives to be established annually. This bonus amount will be pro-rated based upon your date of hire and you must actively be employed by EnerNOC on the date of payment to guarantee eligibility. 

	 	•	 	 Restricted Stock: The Company will grant you 160,000 shares of restricted stock in accordance with EnerNOC’s 2007 Employee, Director and
Consultant Stock Plan subject to the terms of the Company’s Restricted Stock Agreement. The Grant will be subject to a four-year vesting schedule, with a one-year cliff at which point 25% of your total Grant will vest, and with the remainder to
vest on a quarterly basis thereafter. 

	 	•	 	 Benefits: Full-time employees are eligible to participate in all Company benefit plans, which include but are not limited to medical, dental,
life, short-term and long-term disability insurance and a 401(k) Plan. Participation in Company benefit plans will be subject to the terms of all applicable plan documents and all Company policies regarding benefits. In addition, you will be
entitled to be reimbursed for up to $10,000 per year for estate, tax and financial planning expenses and/or related legal fees. 

	 	•	 	 Paid Time Off: During employment, you will be entitled to earn paid time off (PTO) in accordance with the Company’s Paid Time Off
Policy. Pursuant to the Policy, you will earn up to 6.154 hours of PTO per pay period up to a maximum of 160 hours (20 days) per year. PTO will be pro-rated for any pay period that is not worked in full. 

	 	•	 	 Expenses: The company will reimburse you for all reasonable travel and business expenses, in accordance with the EnerNOC Travel and Expense
Policy. 

	 	•	 	 New Hire Orientation: You will be required to attend the next scheduled New Hire Orientation in the Boston Office. A member of Human Resources
will notify you of your orientation date so that you can make travel arrangements if you are located outside of the Boston area. Senior Management is a strong proponent of this program and the value that it will bring to you and the
organization. For this reason, attendance is mandatory for all full-time regular employees. 

	 	•	 	 Proof of Eligibility: The Immigration Reform and Control Act requires employers to verify the employment eligibility and identity of all new
employees. Accordingly, you will be required to complete a Form I-9 when you begin work. We will not be able to employ you if you do not provide us with the appropriate documents required by the Form I-9 in a timely manner.

	 	•	 	 Confidential Information and Restricted Activities: As a condition of your employment, you will be required to sign the Company’s standard
Employee Agreement (the “Agreement”). A copy of the Agreement is enclosed with this letter and must be signed and returned at the time you accept the offer. 

	 	•	 	 At-Will Status of Employment: This letter and your response are not meant to, and do not, constitute a contract of employment for a specific
term. Your employment with the Company is at-will. This means that, if you accept this offer, both you and the Company will retain the right to terminate your employment at any time, with or without notice or cause. 

	 	•	 	 Withholding: All payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the
Company under applicable law. 

	 	•	 	 Miscellaneous: Our agreement consists of several employment-related documents in addition to this letter, including the Employment Agreement,
the Severance Agreement and the Restricted Stock Agreement. In the event there is a conflict of terms among this letter and the other of your employment-related documents that together as a whole comprise your employment documents, the terms of this
offer letter shall be first in priority and the terms of the Severance Agreement shall be second in priority. 

 In accepting
this offer, you give us assurance that you have not relied on any agreements or representations, express or implied, with respect to your employment, that are not set forth expressly in this letter. 

Neil, we are excited about the prospect of your new position with our team, because we believe that your talents, experience and business judgment will
benefit the Company significantly. Please confirm your acceptance of this offer by signing below and returning this letter to me no later than the close of business on Friday, April 19, 2013. At the time you sign and return it, this letter will
take effect as a binding agreement between you and the Company on the basis set forth above. I will be happy to discuss this offer with you in more detail should you have any questions. 

 

	
	Sincerely,
	
	/s/ Timothy G. Healy
	Timothy G. Healy, Chairman and Chief Executive Officer

  

			
	Signed	 	/s/ Neil Moses
		
	Name	 	Neil Moses
		
	Date	 	April 18, 2013

  
  

  
 INITIAL
HERE:  _______________EX-10.2

 Exhibit 10.2 
 ENERNOC, INC. 
 SEVERANCE AGREEMENT 

This Severance Agreement is made as of the 22 day of April, 2013 by and between EnerNOC, Inc., a Delaware corporation (the
“Company”), and Neil Moses (the “Employee”). 
 WHEREAS, the Employee currently serves as an
executive of the Company; and 
 WHEREAS, the Company and the Employee desire to provide for severance arrangements for
the Employee under certain circumstances as of the Effective Date; 
 NOW, THEREFORE, in consideration of the premises
and the mutual promises hereinafter set forth, the Company and the Employee agree as follows: 
 1. Definitions. As used in this
Agreement, the following terms shall have the following meanings: 
 1.1. “Accrued Base Compensation”: all
amounts of compensation for services rendered to the Company that have been earned or accrued through the date of the Employee’s termination of employment but that have not been paid as of such date including (i) Base Salary,
(ii) reimbursement for reasonable and necessary business expenses incurred by the Employee on behalf of the Company during the period ending on such date, and (iii) vacation pay; provided, however, that Accrued Compensation shall
not include any amounts described in clause (i) that have been deferred pursuant to any salary reduction or deferred compensation elections made by the Employee. 
 1.2. “Agreed Bonus Target”: shall mean the bonus target amount as established from time to time by the Compensation Committee of the Company’s Board of Directors (the
“Compensation Committee”). 
 1.3. “Base Salary”: shall mean the Employee’s base compensation
per annum as established by the Compensation Committee. 
 1.4. “Cause”: (i) willful failure to perform,
or gross negligence in the performance of, the Employee’s duties for the Company or any of its affiliates; (ii) knowing and material breach by the Employee of any obligation to the Company or any of its affiliates with respect to
confidential information, non-competition, non-solicitation or the like; (iii) the Employee’s breach of fiduciary duty, fraud, embezzlement or other material dishonesty with respect to the Company or any of its affiliates; or (iv) the
Employee’s conviction of, or plea of nolo contendere to, a felony (other than felonies vehicular in nature) or any other crime involving moral turpitude; provided, however that with respect to the grounds set forth in Section 1.4(i), Cause
shall not be deemed to exist until the Employee has been given written notice of the facts or circumstances allegedly constituting such grounds and, where reasonably subject to cure, thirty (30) days to cure. 

1.5. “Good Reason”: (i) a substantial reduction in the Employee’s then current base salary, without the
Employee’s consent; or (ii) material and continuing diminution of the Employee’s title or the Employee’s responsibilities, duties and authority in the operation and management of the Company as compared to such title or
responsibilities, duties and authority on the Effective Date, without the Employee’s consent. 
 1.6. “Change of
Control”: (i) the sale of all or substantially all of the assets or issued and outstanding capital stock of the Company or (ii) merger or consolidation involving the Company in which stockholders of the Company immediately before
such merger or consolidation do not own immediately after such merger or consolidation capital stock or other equity interests of the surviving corporation or entity representing more than fifty percent in voting power of capital stock or other
equity interests of such surviving corporation or entity outstanding immediately after such merger or consolidation. 

 1.7. “Disability”: a physical or mental infirmity that impairs the
Employee’s ability to substantially perform his duties with the Company for six consecutive months. 
 1.8.
“Effective Date”: shall be April 22, 2013 
 1.9. “Severance Compensation”: 100% of
the Employee’s Base Salary on the effective date of termination and the Agreed Bonus Target in effect on the effective date of termination. 
 1.10. “Stock Award”: shall mean any grant of equity under the Company’s 2007 Employee, Director and Consultant Stock Plan or any subsequent stock plan of the Company. 

2. Payments upon Termination. 
 2.1. If the Company terminates the Employee’s employment without Cause, or the Employee terminates his or her employment with Good Reason, the Company will pay the Employee, on the date of
termination, his Accrued Base Compensation as of the termination date and an amount equal to his Severance Compensation in twelve (12) equal monthly installments in arrears, commencing on the Release Effective Date (defined below). The
Company’s obligation to make such payments and any payments required under Section 2.3 shall cease upon the Employee’s material breach of any written agreement between the Company and the Employee or of any written policy of the
Company by which the Employee is bound, if such breach causes or is likely to cause material harm to the Company. In addition, in the event of such termination without Cause or if the Employee terminates for Good Reason, then to the extent
Employee holds Stock Awards subject to future performance vesting in the Company, such performance vesting Stock Awards shall remain in effect for a period of six months following the Employee’s termination and the Employee will vest with
respect to such performance based Stock Awards if such performance-based vesting criteria are achieved within six (6) months from the date of Employee’s termination. In the event that any such performance-based Stock Awards that vest
during the six month period includes performance-based options, the Employee will have three (3) months from the date of being notified of the vesting of such performance based options to exercise such options. At the end of such three
(3) month period, such options shall terminate. In the event that the Employee has any Stock Awards that vest based on time, if the Company terminates the Employee’s employment without Cause, or the Employee terminates his employment with
Good Reason, then the vesting of such time-based Stock Awards shall be accelerated by six months as of the date of such termination and the Employee shall have three months from the termination date to exercise any such time-based Stock Awards which
are stock options. 
 2.2. If the Company terminates the Employee’s employment at any time for Cause, or upon the
Employee’s death or Disability, the Company will pay the Employee his Accrued Base Compensation and will have no obligation to pay Severance Compensation. 
 2.3. Upon any termination of the Employee’s employment with the Company to which Section 2.1 applies, the Company shall maintain the benefits that the Employee is receiving as of the termination
date for a period of twelve (12) months unless earlier terminated pursuant to Section 2.1 and shall take such measures as are permissible under its medical, life, and disability insurance and any other employee benefit plans or programs to
continue coverage or reimbursement for the Employee (and the Employee’s family, if applicable), through COBRA or any state health care continuation law, if applicable, on the same terms (including any required contribution by the Employee) as
immediately prior to such termination. If it is not permissible to continue any such coverage under any such insurance plans, the Company will pay the Employee, as additional severance compensation, such amount, net of state and federal income
taxes payable by the Employee with respect thereto, as will be sufficient for the Employee to obtain such insurance coverage on an individual basis assuming that the Employee (and each member of the Employee’s family who is to be covered) is a
“standard risk” for insurance purposes and any such severance payments shall be made at the same time as the severance payments to be made under Section 2.1.

  
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 3. Change of Control. In the event of a Change of Control in which the Company is valued at
equal to or greater than $75 million, the vesting schedule set forth in each outstanding Stock Award shall, on the date of the Change of Control, be accelerated such that all (100%) of the Employee’s Stock Awards subject to future vesting
shall become vested on the closing of such event. 
 4. Mutual Release. As a condition precedent of the effectiveness of Sections
2.1 and 2.3, the Employee must furnish the Company (and vice versa) an executed waiver and general release of any and all known and unknown claims, and other provisions and covenants, in the form acceptable to the Company (the
“Release”) within the time period specified in the Release, but no later than 60 days following Employee’s “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h) and without regard to
any alternate definition thereunder) (a “Separation from Service”), and allowing the Release to become effective in accordance with its terms. The date on which the Release is executed by the Employee and can no longer be revoked is
the “Release Effective Date.” Notwithstanding anything to the contrary in this Agreement, if any severance pay or benefits are deferred compensation under Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”), and the regulations and other guidance issued thereunder and any state law of similar effect (collectively, “Section 409A”), and the period during which the Employee may sign the Release begins in one
calendar year and ends in another, then the severance pay or benefit shall not be paid or the first payment shall not occur until the later calendar year. 
 5. Employee Agreement. The Employee agrees that his Employee’s Invention, Non-Competition and Non-Disclosure Agreement (a copy of which is attached hereto) is in full force and effect
on the date hereof and is not modified or terminated by any provision of this agreement. This agreement is referred to in the Mutual Release as “the Employee Agreement.” 
 6. Miscellaneous. 
 6.1. This Agreement shall be governed by,
and construed and enforced in accordance with, the laws of the Commonwealth of Massachusetts. Any action brought by any party to this Agreement shall be brought and maintained in a court of competent jurisdiction in Middlesex or Suffolk Counties in
the Commonwealth of Massachusetts, and each party herby consents to the jurisdiction of such courts. 
 6.2. This Agreement
shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective heirs, legal representatives, successors and assigns. 
 6.3. This Agreement may be amended, modified or supplemented, and any obligation hereunder may be waived, only by a written instrument executed by the parties hereto. The waiver by any party hereto of a
breach of any provision of this Agreement shall not operate as a waiver of any subsequent breach. No failure on the part of any party to exercise, and no delay in exercising, any right or remedy hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of any such right or remedy by such party preclude any other or further exercise thereof or the exercise of any other right or remedy. All rights and remedies hereunder are cumulative and are in addition to all other
rights and remedies provided by law, agreement or otherwise. 
 6.4. This Agreement constitutes the entire agreement between the
parties and terminates and supersedes any and all prior severance agreements and amendments (whether written or oral) between the parties. The Employee acknowledges and agrees that neither the Company, nor anyone acting on its behalf has made, and
in executing this Agreement the Employee has not relied upon, any representations, promises, or inducements except to the extent the same is expressly set forth herein. 
 7. 409A Compliance. The parties intend for the Severance Compensation and other benefits provided under this Agreement to be exempt from the provisions of Section 409A, and the
Agreement is to be construed and interpreted accordingly. Each installment of severance pay or benefits under this Agreement is a separate payment under Treasury Regulations Section 1.409A-2(b)(2). Any severance pay or benefits under this
Agreement that are deferred compensation under Section 409A will only be paid if the Employee’s termination of employment is also a Separation from Service. Notwithstanding any other provision with respect to the timing of payments under
this Agreement, if, at the time of the Employee’s 

  
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termination, he is deemed to be a “specified employee” of the Company within the meaning of Section 409A, then limited only to the extent necessary to comply with the requirements
of Section 409A, any payments to which the Employee may become entitled under this Agreement which are subject to Section 409A (and not otherwise exempt from its application) will be withheld until the first (1st) business day of the
seventh (7th) month following the Employee’s termination of employment, at which time he shall be paid an aggregate amount equal to the accumulated, but unpaid, payments otherwise due to the Employee under the terms of this Agreement.

 8. 280G. If any payments and benefits provided under this Agreement or any other agreement (the “Benefits”)
would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise
Tax”), then such Benefits payments shall be adjusted so that it would equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Benefits payments that would result in no portion of the
Benefits payments being subject to the Excise Tax or (y) the total Benefits payments, whichever amount of (x) or (y), after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all
computed at the highest applicable marginal rate), results in receipt by Employee, on an after-tax basis, of the greater amount of the Benefits payments notwithstanding that all or some portion of the Benefits payments may be subject to the Excise
Tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Benefits payments equals the Reduced Amount, reduction shall occur in the order determined by the Employee at the time of the
transaction. 
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 IN WITNESS WHEREOF, the parties hereto have executed this Severance Agreement effective as of the
date first mentioned above. 
  

			
	ENERNOC, INC.
		
	 By:
	 	/s/ Timothy Healy
		 	 Duly authorized by the Board of Directors

 
	
	
	 /s/ Neil Moses

	 Employee Signature

	
	 Neil Moses

	 Printed Name of Employee

  
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