Document:

Exhibit 10.18

 

AMENDED AND RESTATED EMPLOYMENT
AGREEMENT 

 

Dated this 1st day of January, 2017. 

 

BETWEEN:

 

GRAHAM BOYD of [***]

 

(the “Employee”)

 

AND:

 

Global
Mining Management Corporation, a body corporate having an office at Suite 654 – 999 Canada Place, Vancouver, British
Columbia, CANADA V6C 3E1

 

(“Global”)

 

(collectively, the “Parties”)

 

WHEREAS:

 

		A.	Pursuant to the Shareholders’ Corporate Management and Cost Sharing Agreement dated September 1,
1996, as amended, Global provides administrative and other support services for its participating shareholders (the “Related Entities”)
including coordinating employment;

 

		B.	The Employee has been employed within the Ivanhoe Group of Companies since April 1, 2008; and

 

		C.	The Parties wish to enter into this agreement (the “Agreement”), which it is agreed replaced
the Existing Agreement except as it relates to matters concerning incentive compensation including options/shares, change
of control and notice/pay(Global and the Employee now wish to amend and restate the terms and conditions of the Original Employment Agreement
dated November 1, 2013 (“Existing Agreement”) attached herein as Schedule “A” as by entering into this amended
and restated employment agreement (”), which it is agreed replaces the Original Agreement.

 

NOW THEREFORE in consideration of the terms,
covenants and conditions contained herein as well as the payment by the Company of the additional sum of $10.00 and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

		1.	EMPLOYMENT

 

		(a)	The Employee will continue to perform the role of Senior Geologist for Global (the “Applicable Related
Entities”) and will carry out such duties and responsibilities as are customarily performed by persons in such a role within the
mining industry, as well as such additional and related duties and responsibilities as may be assigned from time to time, delegated or
determined by the Management of the Related Entities to whom the Employee performs work (the “Services”). The Employee acknowledges
and agrees that the requirement to fulfil other duties, perform the Services in respect of additional Related Entities, or any reasonable
alteration to the Employee’s duties and responsibilities will not constitute a fundamental alteration to this Agreement. The Employee
further acknowledges that regular business travel may be required to properly perform the Services.

 

     

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		(b)	The Employee’s hours of work will be normal business hours together with any additional time necessary
to discharge the Employee’s duties and responsibilities pursuant to this Agreement. The compensation described in Article 3 below
is compensation for all hours worked by the Employee. For greater clarity, the Employee may accrue time worked in excess of regular business
hours while in the field or as requested and directed by the Management of the Related Entities. The accrued time may be taken as time
off with pay at the discretion and approval of the Management of the Related Entities.

 

		(c)	During the Employee’s employment, the Employee will devote his full time and attention to performing
the Services and will not, without consent, undertake any other business or occupation or become a director of an unrelated entity.

 

		(d)	The Employee will comply with all lawful policies, rules and procedures established from time to time
including any future revisions of such policies, rules and procedures. This includes all Codes of Business Conduct and Ethics and Corporate
Securities Trading Policies of the Related Entities to whom the Employee performs the Services. The Employee will inform himself of the
details of such policies, rules and procedures. Where such policies, rules and procedures conflict with the terms of this Agreement, the
terms of this Agreement will prevail. The Employee further acknowledges and agrees that, in the course of performing the Services, he
will comply with all applicable laws, regulations, bylaws, ordinances and any other applicable legal requirements.

 

		(e)	The Employee will immediately disclose actual or potential business conflicts of interest, and will conduct
himself so as to avoid any actual or potential conflicts of interest.

 

		(f)	The Employee understands and agrees that while his employment will be administered by Global, Global is
not his employer and is not responsible for any liabilities that arise with respect to the Employee, whether arising by operation of common
law, or pursuant to contractual or statutory obligations.

 

		2.	Term

 

		(a)	This Agreement will be for an indefinite term (the “Term”), subject to earlier termination
in accordance with the provisions of this Agreement

 

		3.	REMUNERATION AND BENEFITS

 

		(a)	In return for performing the Services, the Employee will be paid an annual base salary of CAD $146,260.00
(the “Base Salary”), less statutory deductions, which will be paid to the Employee semi-monthly by direct deposit. The Base
Salary may be increased subject to performance and/or merit review and, if increased, will thereafter be the Base Salary under this Agreement.
Global and the Related Entities will consult on any performance or merit related increases.

 

		(b)	The Employee will be entitled to participate in all insurance and other benefit plans or programs in effect
for similar employees in accordance with the rules and agreements governing such plans or programs so long as such plans and programs
are in effect. Such employee insurance and other benefit plans may be amended, deleted or added to from time to time.

 

     

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		(c)	The Employee will be entitled to twenty (20) days’ paid vacation each calendar year. This entitlement
will be pro-rated for partial years of service. Vacation is to be scheduled in accordance with business needs and as Global may agree.
The Employee may carry forward a maximum of five (5) vacation days to the following year. Any unused vacation entitlement in excess of
five (5) days will be forfeited.

 

		(d)	Upon submitting appropriate vouchers, bills, receipts or other documents, the Employee will be reimbursed
for all reasonable out-of-pocket expenses incurred in the performance of the Services and in accordance with the applicable policies and
procedures as amended from time to time.

 

		(e)	As it relates to the performance of the Services and regardless of the number of Related Entities to whom
the Employee performs the Services, the Employee is not entitled to any payment, benefit, perquisite, allowance or entitlement that is
duplicative of those set out in this Agreement.

 

		(f)	The Employee agrees that each Related Entity to whom he performs the Services is responsible on a pro-rata
basis (i.e. according to the percentage of time that the Employee has devoted to the business and affairs of each Related Entity) for
the Base Salary and other compensation owed to the Employee pursuant to this Agreement. This includes any payments owed to the Employee
pursuant to Article 6 below.

 

		4.	Confidentiality and proprietary rights

 

		(a)	The Employee’s employment under this Agreement is conditional upon the Employee agreeing to and
executing the Employee Inventions and Proprietary Rights Assignment Agreement in the form attached as Appendix “A” to this
Agreement.

 

		5.	NON-SOLICITATION and non-disparagement

 

		(a)	The Employee covenants and agrees that during his employment and for a period of twelve (12) months following
the date of termination of his employment, however caused, the Employee will not on his own behalf or on behalf of any person, whether
directly or indirectly, in any capacity whatsoever, alone, through or in connection with any person:

 

		(i)	persuade or attempt to persuade any customer or client of a Related Entity to whom the Employee performed
the Services (and where such customer or client was known to the Employee), to discontinue or adversely alter their relationship with
that entity; or

 

     

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		(ii)	employ, engage, offer employment or engagement to or solicit the employment or engagement of or otherwise
entice away an employee of Global or a Related Entity to whom the Employee performed the Services, whether or not such person would commit
any breach of their contract of employment by reason of leaving their service.

 

		(b)	The Employee covenants and agrees that he will not engage in any pattern of conduct that involves the
making or publishing of written or oral statements or remarks (including, without limitation, the repetition or distribution of derogatory
rumours, allegations, negative reports or comments) which are disparaging, deleterious or damaging to the integrity, reputation or goodwill
of Global or a Related Entity to whom the Employee performed the Services, and any of their directors, officers, employees or agents.

 

		(c)	The Employee agrees that a breach by him of any of the covenants contained in Article 5(a) above would
result in damages which could not adequately be compensated by monetary award. Accordingly, the Employee agrees that in the event of any
such breach, in addition to all other remedies available at law or in equity, Global or a Related Entity to whom the Employee performed
the Services will be entitled as a matter of right to apply to a court of competent jurisdiction in British Columbia for such relief by
way of restraining order, injunction, decree or otherwise, as may be appropriate to ensure compliance with the provisions of this Agreement.

 

		(d)	The Employee further agrees that a breach by him of any of the covenants contained in Article 5(a) and
Article 5(c) above constitutes cause to terminate the Employee’s employment and, where the payment referred to in Article 6(c) below
has been made, the Employee agrees to reimburse the amount paid. Where the Employee fails to provide reimbursement, the amount paid to
the Employee will be a debt due and owing by the Employee.

 

		6.	TERMINATION

 

		(a)	The Employee may terminate his employment by providing thirty (30) days’ advance notice in writing.
At any time following receipt of such notice, the Employee’s employment may be immediately terminated by paying him a lump sum amount
equal to the Base Salary and vacation he would have earned during the remaining thirty (30) day notice period. Such payment will be subject
to the deduction of income tax and other deductions required by law.

 

		(b)	The Employee’s employment may be terminated at any time without notice or pay in lieu thereof, for
cause. Where the Employee’s employment is terminated for cause, the Employee’s entitlement to remuneration pursuant to this
Agreement will cease on that date.

 

		(c)	The Employee’s employment may be terminated at any time without cause by providing the Employee
with notice or pay in lieu of notice or a combination thereof in the amount set forth in section 63 of the BC Employment Standards
Act, as amended from time to time. The Employee acknowledges and agrees that his right to notice of termination of employment or pay
in lieu of notice referred to above will be the maximum amount to which the Employee is entitled. Any payment of pay in lieu of notice
will be subject to the deduction of income tax and other deductions required by law.

 

     

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		(d)	The Employee acknowledges and agrees that all benefit coverage including, without limitation, long term
disability coverage, will cease as of the date of termination and there will be no liability for any damages caused by the cessation of
such benefit coverage regardless of the reason for termination, and further, that there will be no obligation to extend any benefit coverage
to the Employee past the date of termination. The Employee further acknowledges and agrees that upon satisfaction of the obligations under
Article 6(a) and Article 6(c) above and the payment of outstanding wages (including vacation) and unpaid business expenses, there will
be no further liability or obligation to the Employee in respect of the Employee’s employment and termination of employment including,
but not restricted to, further compensation or payment of any kind.

 

		(e)	Upon termination of employment, the Employee will return all business documents, files, manuals, books,
software, equipment, mobile phone, laptop, keys, identification or credit cards, and all other property in his possession or control belonging
to Global or a Related Entity to whom the Employee performed the Services.

 

		7.	dispute resolution

 

		(a)	In the event of a dispute arising out of or in connection with this Agreement,
or in respect of any legal relationship associated with it or from it, which does not involve the seeking of a court injunction or other
relief relating to the protection of the legitimate business interests of Global or a Related Entity to whom the Employee performed
the Services, that dispute will be resolved as follows:

 

		(i)	Amicable Negotiation – The Parties agree that, both during and after the term of this Agreement,
each of them will make bona fide efforts to resolve any disputes arising by amicable negotiations.

 

		(ii)	Mediation – If the Parties are unable to negotiate resolution of a dispute, either Party
may refer the dispute to mediation by providing written notice to the other Party. If the Parties cannot agree on a mediator within thirty
(30) days of receipt of the notice to mediate, then either Party may make application to the British Columbia Mediator Roster Society
to have one appointed. The mediation will be held in Vancouver, B.C. in accordance with the British Columbia International Commercial
Arbitration Centre’s (the “BCICAC”) under its Commercial Mediation Rules, and each Party will bear its own costs, including
one-half share of the mediator’s fees.

 

		(iii)	Arbitration – If, after mediation, the Parties have been unable to resolve a dispute and
the mediator has been inactive for more than ninety (90) days, or such other period agreed to in writing by the Parties, either Party
may refer the dispute for final and binding arbitration by providing written notice to the other Party. If the Parties cannot agree on
an arbitrator within thirty (30) days of receipt of the notice to arbitrate, then either Party may make application to the British Columbia
Arbitration & Mediation Institute to appoint one. The arbitration will be held in Vancouver, B.C. in accordance with the BCICAC’s
Shorter rules for Domestic Commercial Arbitration, and each Party will bear its own costs, including one-half share of the arbitrator’s
fees.

 

		8.	GENERAL PROVISIONS

 

		(a)	This Agreement constitutes the entire agreement between the Parties with respect to the employment of
the Employee and supersedes any and all agreements, understandings, warranties or representations of any kind, written or oral, express
or implied, including any relating to the nature of the position or its duration, and each of the Parties releases and forever discharges
the other of and from all manner of actions, causes of action, claim or demands whatsoever under or in respect of any agreement.

 

     

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		(b)	In the event that any provision or part of this Agreement is determined to be void or unenforceable in
whole or in part, the remaining provisions, or parts of it, will be and remain in full force and effect.

 

		(c)	The validity and interpretation of this Agreement and the legal relations of the Parties will be governed
by and construed in accordance with the laws in force from time to time in the Province of British Columbia and the federal laws of Canada
applicable in the Province of British Columbia.

 

		(d)	The Employee’s obligations contained in Article 4 and 5 above will survive the termination of this
Agreement for any reason.

 

		(e)	The Employee acknowledges having been afforded the opportunity to obtain independent legal advice with
respect to the contents, terms and effect of this Agreement, and understands that by executing this Agreement he is confirming that he
understands the terms and conditions of this Agreement and agrees to be bound by them.

 

IN WITNESS WHEREOF this
Agreement has been executed by the Parties as of the date and year first above written.

 

	Global
    Mining Management Corporation	 
	 	 
	 	 
	Authorized Signatory	 
	 	 
	 	 
	Graham Boyd	 

 

     

     

    

	
	

	
	4. Other Bus~ness Activities
The Employee shall well and faithfully serve the Company and use their
best efforts to promote the interest thereof. The Employee shall devote their working
time and attention to the business of the Company to fulfill their obligations hereunder.
The Employee shall refer to the Board any and all matters and
transactions in respect of which an actual or potential conflict of interest between the
Employee and the Company has arisen or may arise, however remote the possibility,
and the Employee shall not proceed with any such matter or transaction until the
Board's approval therefore is obtained. For purposes of clarification, this provision is
not intended to limit in any way the Employee's other fiduciary obligations to the
Company which may arise in law or in equity.
The Employee shall adhere to the Company's Code of Business Conduct
and Ethics and Corporate Securities Trading Policy.
Without limiting the generality of the foregoing, the Employee
acknowledges, covenants and agrees that under no circumstances will their provision of
the Services involve or include, nor will the Employee be asked by any officer of the
Company to engage in, any activities contrary to the Corruption of Foreign Public
Officials Act (Canada) or the United States Foreign Corrupt Practices Act.
5. Compensation
In consideration of the performance by the Employee of his responsibilities
and duties as Senior Geologist hereunder:
5.1 the Company will pay the Employee the sum of CAD $142,000.00 per year,
payable in semi-monthly instalments, subject to standard payroll and tax
deductions,
5.2 the Company will provide the Employee with a Canadian benefits package
including basic medical, extended health & dental, life and dependent life
insurance, long term disability insurance, and participation in the employee and
family assistance program.
6. Expenses
The Company will reimburse the Employee for any and all reasonable and
documented expenses actually and necessarily incurred by the Employee in connection
with the performance of his duties under this Agreement. The Employee will furnish the
Company with an itemized account of his expenses in such form or forms as may
reasonably be required by the Company and at such times or intervals as may be
required by the Company.
7. Vacation
The Employee will be entitled to a paid vacation of twenty (20) days within
each 12 month period during the term of this Agreement, to be calculated from the date
of commencement of employment set forth in Section 2 herein. This vacation must be
taken on dates which do not adversely compromise the Employees performance of his
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duties under this Agreement.
8. Termination
8.1 This Agreement and the Employee's employment may be terminated by
the Company summarily and without notice, payment in lieu of notice, severance
payments, benefits, damages or any sums whatsoever, for any act or omission which
constitutes just cause as determined under Common Law by the Courts of the Province
of British Columbia, as applicable.
8.2 In the event of the early termination of the Agreement pursuant to Section
8.1 above, the Employee shall only be entitled to such compensation as would
otherwise be payable to the Employee hereunder up to and including such date of
termination, as the case may be.
8.3 The Company may terminate this Agreement at any time without cause by
providing the Employee with one (1) month w~itten notice. In such event, the Employee
will be entitled to payment of salary and expenses until the date one (1) month after
which notice was given. The Employee will also be entitled to a severance package of a
lump sum payment equal to one month's salary, any unpaid leave plus an additional 2.5
weeks of salary pro-rated for each continuous year of service with the Company. The
payments provided for in this Section 8.3 shall be inclusive of the Employee's
entitlement to notice and severance pay at common law or by statute.
8.4 This Agreement and the Employee's employment may be terminated on
notice by the Employee to the Company for any reason upon one (1) month written
notice of resignation to the Company. In such event, the Employee will be entitled to
payment of salary and expenses until the date one (1) month after which notice was
given.
9. Confidential Information
The Employee agrees to keep the affairs of Global Mining Management
Corporation ('the Company'), its associates and its affiliates, financial and otherwise,
strictly confidential and shall not disclose the same to any person, company or firm,
directly or indirectly, during or after its engagement by the Company. The Employee
agrees not to use such information, directly or indirectly, for his own interests, or any
interests other than those of the Company, whether or not those interests conflict with
the interests of the Company, its associates and its affiliates during its engagement by
the Company. The Employee acknowledges and agrees that all information relating to
the Company, its associates and its affiliates, whether financial, technical or otherwise
shall, upon acceptance of the Employment offer, be the sole property of the Company.
The Employee agrees not to divulge any of the foregoing to any person, partnership,
corporation or other legal entity or to assist in the discloser or divulging of any such
information, directly or indirectly, except as required by law.
10. Acknowledgement
The Employee acknowledges that damages would be an insufficient
remedy for a breach by him of this Agreement and agrees that the Company may apply
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for and obtain any relie1 available to it in a court of law or tquity, including injunctive
relief, to restrain breach or threat of breach of this Agreement by the Employee or to
enforce the covenants contained therein and, in particular, the covenants contained in
Section 9 and 10, in addition to rights the Company may have to damages arising from
said breach or threat of breach.
11. Representations and Warranties
The Employee represents and warrants to the Company that the
execution and performance of this Agreement will not result in or constitute a default,
breach, or violation, or an event that, with notice or lapse of time or both, would be a
default, breach, or violation, of any understanding, agreement or commitment, written or
oral, express or implied, to which the Employee is currently a party or by which the
Employee or Employee's property is currently bound.
12. Governing Law
This Agreement shall be construed and enforced in accordance with the
laws of the Province of British Columbia, Canada. Any action or proceeding brought by
a party arising out of or in connection with this Agreement shall be brought solely in a
court of competent jurisdiction located in the Province of British Columbia, Canada. The
parties agree not to contest such exclusive jurisdiction or seek to transfer of any action
relating to such dispute to any other jurisdiction. Each of the Parties hereby submits to
personal jurisdiction and waives any objection as to venue in the Province of British
Columbia.
13. Entire Agreement
This Agreement constitutes the entire agreement between the parties
hereto with respect to the relationship between the Company and the Employee and
supersedes all prior arrangements and agreements, whether oral or in writing between
the parties hereto with respect to the subject matter hereof.
14. Amendments
No amendment to or variation of the terms of this Agreement will be
effective or binding upon the parties hereto unless made in writing and signed by both of
the parties hereto. ·
15. Assignment
This Agreement is not assignable by the Employee. This Agreement is
assignable by the Company to any other company which controls, is controlled by, or is
under common control with the Company. This Agreement shall inure to the benefit of
and be binding upon the Company and its successors and permitted assigns and the
Employee and his heirs, executors and administrators.
16. Severability
Any provision of this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to that jurisdiction, be ineffective to the extent of the prohibition or
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	transmission, the sender receives a transmission confirmatio11 report or, if the sender's
facsimile machine is not equipped to issue a transmission confirmation report, the
recipient confirms in writing that the notice has been received. In the case of e-mail
transmission, notice is deemed to have been given or served on the party to whom it
was sent at the time of dispatch if, following transmission, the recipient confirms in
writing that the notice has been received.
22. This Agreement may be executed in counterparts and shall become
operative when each party has executed and delivered at least one counterpart.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the
day and year first above written.
GLOBAL MINING MANAGEMENT CORPORATION.
By:
SIGNED by the Employee in the presence of:
~ [Name of witness] Graham Boyd 

	
	Appendix A
EMPLOYEE INVENTIONS AND PROPRIETARY RIGHTS ASSIGNMENT AGREEMENT
This Employee Inventions and Proprietary Rights Assignment Agreement (this "Agreement'') made as of
the 1st day of January, 2017 is intended to formalize in writing certain understandings and procedures
regarding my employment with Global Mining Management Corporation including all participating
shareholders or "Related Entities" (collectively, the "Company"). In consideration of my employment or
continued employment by the Company, the compensation now and hereafter paid to me, and for other
good and valuable consideration, the receipt of which is hereby acknowledged, I hereby agree as
follows:
1. NON-DISCLOSURE
1.1 Trust and Confidence. I acknowledge that my employment creates a relationship of
trust and confidence between me and the Company with respect to any information: (a) applicable to
the business of the Company; or applicable to the business of any client or customer of the Company,
which may be made known to me by the Company or by any client or customer of the Company, or
learned by me in such context during the period of my employment.
1.Z Proprietary Information. The term "Proprietary Information" shall mean any and all
confidential or proprietary knowledge, data or information of the Company. By way of illustration but
not limitation, Proprietary Information includes: (a) trade secrets, inventions, ideas, processes, formulas,
artwork, apparatus, equipment, algorithms, programs, source and object codes, software source
documents, data, programs, techniques, sketches, drawings, models, other works of authorship,
improvements, innovations, discoveries, developments, designs, and techniques (hereinafter collectively
referred to as "Inventions"); (b) information regarding plans for research or development, or actual or
contemplated products or services of the Company; (c) technical product, process or service
information; (d) information regarding manufacturing or development processes; (e) information
regarding budgets or unpublished financial statements, or historic, current or projected financial
information, or data about sales, other revenues, prices, costs, margins, expenses, profits, losses, taxes,
income, assets, liabilities, shareholders' equity, or cash flow; (f) information regarding marketing plans,
customers, suppliers, price lists, markets, or marketing or distribution channels; (g) information
regarding business opportunities, business plans, strategies, partnerships, licensing arrangements,
contracts or other legal information; or (h) information regarding the skills and compensation of other
employees of the Company. Proprietary Information does not include information which I can clearly
prove: (a) is readily available to the public in the same form through no fault of myself; (b) did not
originate from the Company and was lawfully obtained by me in the same form from an independent
third party without any restrictions on disclosure; or (c) did not originate from the Company and was in
my possession in the same form prior to disclosure to me by the Company.
1.3 Recognition of the Company's Rights; Non-disclosure. At all times during my
employment and thereafter, I will hold in strictest confidence and will not disclose, use, lecture upon or
publish any of the Company's Proprietary Information, except as such disclosure, use or publication may
be required in connection with my work for the Company, or unless an officer of the Company expressly
authorizes such in writing. I will obtain the Company's written approval before publishing or submitting
for publication any material (written, verbal, or otherwise) that relates to my work at the Company
and/or incorporates any Proprietary Information. I hereby assign to the Company any rights I may have
or acquire in such Proprietary Information and recognize that all Proprietary Information shall be the
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	sole property of the Company and its assigns. Notwithstanding the foregoing, it is understood that, at all
times, I am free to use information which is generally known in the trade or industry, which is not gained
as result of a breach of this Agreement, and my own skill, knowledge, know-how and experience to
whatever extent and in whichever way I wish.
1.4 Third Party Information. I understand, in addition, that the Company has received and
in the future will receive from third parties confidential or proprietary information ("Third Party
Information") subject to a duty on the Company's part to maintain the confidentiality of such
information and to use it only for certain limited purposes. During the term of my employment and
thereafter, I will hold Third Party Information in the strictest confidence and will not disclose to anyone
(other than the Company personnel who need to know such information in connection with their work
for the Company) or use (except in connection with my work for the Company) Third Party Information
unless expressly authorized by an officer of the Company in writing.
1.5 No Improper Use of Information of Prior Employers and Others. During my
employment by the Company I will not improperly use or disclose any confidential information or trade
secrets, if any, of any former employer or any other person to whom I have an obligation of
confidentiality, and I will not bring onto the premises of the Company any unpublished documents or
any property belonging to any former employer or any other person to whom I have an obligation of
confidentiality unless consented to in writing by that former employer or person. I will use in the
performance of my duties only information which is generally known and used by persons with training
and experience comparable to my own, which is common knowledge in the industry or otherwise legally
in the public domain, or which is otherwise provided or developed by the Company.
2. ASSIGNMENT OF INVENTIONS.
2.1 Proprietary Rights. The term "Proprietary Rights" shall mean all trade secret, patent,
invention, improvement, copyright, industrial design, artistic design, trademark, service mark, trade or
business name, and other intellectual property rights throughout the world and includes, without
limitation, the right to apply for registration or protection of any of the foregoing.
2.2 Prior Inventions. Inventions, if any, patented or unpatented, which I made prior to the
commencement of my employment with the Company are excluded from the scope of this Agreement.
To preclude any possible uncertainty, I have set forth on Exhibit A (Previous Inventions) attached
hereto a complete list of all Inventions that I have, alone or jointly with others, conceived, developed or
reduced to practice or caused to be conceived, developed or reduced to practice prior to the
commencement of my employment with the Company, that I consider to be my property or the
property of third parties and that I wish to have excluded from the scope of this Agreement (collectively
referred to as "Prior Inventions"). If disclosure of any Prior Invention would cause me to violate any
prior confidentiality agreement, I understand that I am not to list such Prior Invention in Exhibit A but
am only to disclose a cursory name for each such invention, a listing of the party(ies) to whom it
belongs, and the fact that full disclosure as to such invention has not been made for that reason. A space
is provided on Exhibit A for this purpose. If no such disclosure is attached, I represent that there are no
Prior Inventions. If, in the course of my employment with the Company, I incorporate a Prior Invention
into a Company product, process or machine, the Company is hereby granted and shall have a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license (with rights to sublicense through
multiple tiers of sub-licensees) to make, have made, modify, use and sell such Prior Invention.
Notwithstanding the foregoing, I agree that I will not incorporate, or permit to be incorporated, Prior
Inventions in any Company Inventions without the Company's prior written consent.
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	2.3 Prior Work. All previous work done by me for the Company relating in any way to the
conception, design, development or support of products for the Company is the property of the
Company.
2.4 Assignment of Inventions. Subject to Section 2.7, I hereby assign and agree to assign in
the future (when any such Inventions or Proprietary Rights are first reduced to practice or first fixed in a
tangible medium, as applicable) to the Company all my right, title and interest in and to any and all
Inventions (and all Proprietary Rights with respect thereto) whether or not patentable or registrable
under copyright or similar statutes, which I may solely or jointly conceive, reduce to practice, create,
derive, develop or make during the period of my employment with the Company, which either (a) relate,
at the time of conception, reduction to practice, creation, derivation, development, or making of such
Innovation, to the Company's business or actual or demonstrably anticipated research or development,
or (b) were developed on any amount of the Company's time or with the use of any of the Company's
equipment, supplies, facilities or trade secret information, or (c) resulted from any work I performed for
the Company. Inventions assigned to the Company, or to a third party as directed by the Company
pursuant to this Section 2, are hereinafter referred to as "the Company Inventions".
2.5 Waiver of Moral Rights. I agree that the Company, its successors and assignees and
their licensees are not required to designate me as the author of any Proprietary Information and the
Company Inventions (collectively, "Developments"). I hereby waive in whole all moral rights which I may
have in the Developments, including the right to the integrity of the Developments, the right to be
associated with the Developments, the right to restrain or claim damages for any distortion, mutilation
or other modification of the Developments, and the right to restrain use or reproduction of the
Developments in any context and in connection with any product, service, cause or institution.
2.6 Obligation to Keep the Company Informed. During the period of my employment and
for twelve (12) months after termination of my employment with the Company, I will promptly disclose
to the Company fully and in writing all Inventions authored, conceived or reduced to practice by me,
either alone or jointly with others. In addition, I will promptly disclose to the Company all patent
applications filed by me or on my behalf within a year after termination of employment. I will preserve
the confidentiality of any Invention covered by this Section.
2.7 Government or Third Party. I also agree to assign all my right, title and interest in and to
any particular the Company Invention to a third party, including without limitation a government entity,
as directed by the Company.
2.8 Enforcement of Proprietary Rights. I will assist the Company in every proper way to
obtain, and from time to time enforce, Canadian and foreign Proprietary Rights relating to the Company
Inventions in any and all countries. To that end I will execute, verify and deliver such documents and
perform such other acts (including appearances as a witness) as the Company may reasonably request
for use in applying for, obtaining, perfecting, evidencing, sustaining and enforcing such Proprietary
Rights and the assignment thereof. In addition, I will execute, verify and deliver assignments of such
Proprietary Rights to the Company or its designee. My obligation to assist the Company with respect to
Proprietary Rights relating to such the Company Inventions in any and all countries shall continue
beyond the termination of my employment, but the Company shall compensate me at a reasonable rate
after my termination for the time actually spent by me at the Company's request on such assistance.
In the event the Company is unable for any reason, after reasonable effort, to secure my signature on
any document needed in connection with the actions specified in the preceding paragraph, I hereby
irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent
Page 3 of7 

	
	and attorney in fact, which appointment is coupled with an interest, to act for and in my behalf to
execute, verify and file any such documents and to do all other lawfully permitted acts to further the
purposes of the preceding paragraph with the same legal force and effect as if executed by me. I hereby
waive, release and quitclaim to the Company any and all claims, of any nature whatsoever, which I now
or may hereafter have for infringement of any Proprietary Rights assigned hereunder to the Company.
3. RECORDS. I agree to keep and maintain adequate and current records (in the form of notes,
sketches, drawings and in any other form that may be required by the Company) of all Proprietary
Information developed by me and all Inventions made by me during the period of my employment at
the Company, which records shall be available to and remain the sole property of the Company at all
times.
4. NO IMPACT ON OTHER STATUTORY OBLIGATIONS. The terms of this Agreement are in addition
to, and not in lieu of, any other statutory obligation that I may have relating to the protection of
Company Inventions, Third Party Information, or Proprietary Information of the Company.
s. NO CONFLICTING OBLIGATION. I represent that my performance of all the terms of this
Agreement and as an employee of the Company does not and will not breach any agreement to keep in
confidence information acquired by me in confidence or in trust prior to my employment by the
Company. I have not entered into, and I agree i will not enter into, any agreement either written or oral
in conflict with this Agreement.
6. RETURN OF ALL COMPANY DOCUMENTS AND MATERIALS. When I leave my employment with
the Company for any reason, I will deliver to the Company any and all written and tangible material in
my possession, including but not limited to drawings, notes, memoranda, specifications, devices,
formulas and documents, together with all copies thereof, and any other material containing or
disclosing any Company Inventions, Third Party Information, or Proprietary Information of the Company.
7. LEGAL AND EQUITABLE REMEDIES. Because I may have access to and become acquainted with
the Proprietary Information of the Company and because a breach of this Agreement will result in
irreparable harm to the Company for which there will be no adequate remedy at law, the Company shall
have the right to enforce this Agreement and any of its provisions by injunction, specific performance or
other equitable relief, without the requirement to post security and without prejudice to any other
rights and remedies that the Company may have for a breach of this Agreement.
8. NOTIFICATION OF NEW EMPLOYER. In the event that I leave the employment with the
Company, I hereby consent to the notification of my new employer of my rights and obligations under
this Agreement.
9. GENERAL PROVISIONS.
9.1 Survival. The provisions of this Agreement shall survive the termination of my
employment for any reason and the assignment of this Agreement by the Company to any successor in
interest or other assignee.
9.2 Successors and Assigns. This Agreement will be binding upon my heirs, executors,
administrators and other legal representatives and will be for the benefit of the Company and its
successors and assigns.
Page 4 of 7 

	
	9.3 Notice. Any notices required or permitted hereunder shall be given to the appropriate
party at the address specified below or at such other address as the party shall specify in writing. Such
notice shall be deemed given as indicated: (i) upon personal delivery to the appropriate address; (ii) by
overnight courier upon written verification of receipt; (iii) by facsimile transmission upon
acknowledgement of receipt of electronic transmission; or (iv) by certified or registered mail, return
receipt requested, upon verification of receipt. Notices to the employee shall be sent to the current
address in the Company's records or such other address as the employee may specify in writing. Notices
to the Company shall be sent to the Company's Human Resources Department or to such other address
as the Company may specify in writing.
9.4 Governing Law; Consent to Jurisdiction. This Agreement will be governed by and
construed according to the laws of British Columbia and the federal laws of Canada applicable therein,
without regard to conflicts of laws principles. I irrevocably submit to and accept generally and
unconditionally the exclusive jurisdiction of the courts and appellate courts of British Columbia for any
action or lawsuit filed there against me by the Company arising from or related to this Agreement. I
irrevocably waive any objection I may now or in the future have to the venue of any such action or
lawsuit, and any claim I may now or in the future have that any such action or lawsuit has been brought
in an inconvenient forum.
9.5 Severability. In case any one or more of the provisions contained in this Agreement
shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement
shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.
If moreover, any one or more of the provisions contained in this Agreement shall for any reason be held
to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by
limiting and reducing it, so as to be enforceable to the extent compatible with the applicable law as it
shall then appear.
9.6 Employment. I agree and understand that nothing in this Agreement shall confer any
right with respect to continuation of employment by the Company, nor shall it interfere in any way with
my right or the Company's right to terminate my employment at any time, with or without cause.
9.7 Assignment. I cannot assign any of its rights, interest or obligations under this
Agreement without the prior written consent of the Company.
9.8 Waiver. No waiver by the Company of any breach of this Agreement shall be a waiver of
any preceding or succeeding breach. No waiver by the Company of any right under this Agreement shall
be construed as a waiver of any other right. The Company shall not be required to give notice to enforce
strict adherence to all terms of this Agreement.
9.9 Entire Agreement. This Agreement is the final, complete and exclusive agreement of the
parties with respect to the subject matter hereof and supersedes and merges all prior discussions
between us. No modification of or amendment to this Agreement, nor any waiver of any rights under
this Agreement, will be effective unless in writing and signed by the party to be charged. Any
subsequent change or changes in my duties, salary or compensation will not affect the validity or scope
of this Agreement.
9.10 Counterparts. This Agreement may be executed and delivered in counterparts. Each
counterpart may be delivered by any means of electronic communication capable of producing a printed
Page S of7 

	
	copy. Each counterpart so delivered shall be deemed an original and all counterparts together shall form
one and the same document.
This Agreement shall be effective as of the 1st day of January, 2017.
I HAVE READ THIS AGREEMENT, UNDERSTAND IT, HAVE HAD THE OPPORTUNITY TO OBTAIN
INDEPENDENT LEGAL ADVICE IN RESPECT OF IT, AND AGREE TO ITS TERMS. I ACKNOWLEDGE THAT I
HAVE COMPLETELY FILLED OUT EXHIBIT A TO THIS AGREEMENT. I FURTHER ACKNOWLEDGE HAVING
RECEIVED A FULLY EXECUTED COPY OF THIS AGREEMENT.
GLOBAL MINING MANAGEMENT CORPORATION
Graham Boyd
Page 6 of 7 

	
	f • ' '
TO:
FROM:
DATE:
SUBJECT:
Exhibit A
PRIOR INVENTIONS
GLOBAL MINING MANAGEMENT CORPORATION
Graham Boyd
January 1, 2017
Previous Inventions
1. Except as listed in Section 2 below; the following is a complete list of all inventions or
improvements relevant to the subject matter of my employment by GLOBAL MINING MANAGEMENT
CORPORATION (the "Company") that have been made or conceived or first reduced to practice by me
alone or jointly with others prior to my employment by the Company:
~ No inventions or improvements.
 □ See below:
 □ Additional sheets attached.
2. Due to a prior confidentiality agreement, I cannot complete the disclosure under Section 1
above with respect to inventions or improvements generally listed below, the proprietary rights and
duty of confidentiality with respect to which I owe to the following party(ies):
Invention or Improvement Party(ies) Relationship
D Additional sheets attached.
Page 7 of 7EX-10.1

 Exhibit 10.1 

MICROVISION, INC. 

CHANGE OF CONTROL SEVERANCE PLAN 

Amended and Restated May 2022 
 The
Compensation Committee (the “Committee”) of the Board of Directors of Microvision, Inc. (the “Board”) recognizes that the possibility of a Change of Control of the Company, and the uncertainty it creates, may result in the loss
or distraction of key employees of the Company to the detriment of the Company and its shareholders. 
 The Board and the Committee consider the avoidance
of such loss and distraction to be essential to protecting and enhancing the best interests of the Company and its stockholders. The Board and the Committee also believe that, when a Change of Control is perceived as imminent or is occurring, the
Board should be able to receive and rely on disinterested service from key employees regarding the best interests of the Company and its shareholders without concern that employees might be distracted or concerned by the personal uncertainties and
risks created by the perception of an imminent or occurring Change of Control. 
 In addition, the Board and the Committee believe that it is consistent
with the Company’s employment practices and policies and in the best interests of the Company and its shareholders to treat fairly certain key employees whose employment terminates in connection with or following a Change of Control. 

Accordingly, the Committee has determined that appropriate steps should be taken to assure the Company of the continued employment and attention and
dedication to duty of certain key employees and to seek to ensure the availability of their continued service, notwithstanding the possibility or occurrence of a Change of Control. 

1. Establishment of Plan. As of the Effective Date, the Company hereby establishes the Microvision, Inc. Change of Control Severance Plan (as amended
from time to time, the “Plan”), as set forth in this document. 
 2. Definitions. Unless the context requires otherwise, words and phrases
not otherwise defined herein shall have the following respective meanings: 
 Affiliate. “Affiliate” means any parent and
subsidiaries of the Company and any entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be by either management authority or equity interest. 

Base Salary. “Base Salary” means the annual base rate of compensation payable to a Participant by the Company. 

Board. “Board” means the Board of Directors of the Company. 

 Cause. The following, as determined by the Board in its reasonable judgment, shall
constitute “Cause” for termination: (i) a Participant’s repeated willful failure to perform, or gross negligence in the performance of, his or her duties and responsibilities to the Company or any of its Affiliates;
(ii) fraud, embezzlement or other dishonesty with respect to the Company or any of its Affiliates; (iii) breach of any agreement entered into between the Participant and the Company and one of its Affiliates relating to confidential
information, the assignment of rights to intellectual property, non-solicitation, non-competition and participation in certain other outside activities or
(iv) commission of a felony. 
 Change of Control. “Change of Control” means the occurrence of any of the following
events after the Effective Date: 
 i. The acquisition by any Person or group of the ultimate beneficial ownership (within
the meaning of Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of more than 50% of the then outstanding securities of the Company entitled to vote
generally in the election of directors; excluding, however, the following: (A) any acquisition directly from the Company (other than any acquisition by virtue of the exercise of an exercise, conversion or exchange privilege unless the security
being so exercised, converted or exchanged was itself acquired directly from the Company); (B) any acquisition by the Company; (C) any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company or by any
corporation controlled by the Company; (D) any acquisition by the Participant, by all Participant-Related Party (as defined herein) or by a group of which the Participant is a member; or (E) any acquisition by any corporation pursuant to a
transaction which complies with clauses (A), (B) and (C); or 
 ii. Individuals who, as of the date hereof, constitute the
Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election, by the
Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any
such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf
of a Person other than the Board; or 
 iii. A Corporate Transaction, unless (A) securities representing more than 50%
of the then outstanding securities entitled to vote generally in the election of directors of the Company or the corporation resulting from or surviving such Corporate Transaction (or the ultimate parent of the Company or such corporation after such
Corporate Transaction) are beneficially owned subsequent to such Corporate Transaction by the Person or Persons who were the beneficial owners of the outstanding securities of the Company entitled to vote generally in the election of directors
immediately prior to such Corporate Transaction, in substantially the same proportions as their ownership immediately prior to such Corporate Transaction, (B) no Person (excluding any corporation resulting from such Corporate Transaction or any
employee benefit plan (or related trust) of the Company of such corporation resulting from such Corporate Transaction) ultimately beneficially owns, directly or indirectly, more than 50% of the then outstanding securities entitled to vote generally
in the election of directors of the 

  
 2 

 
Company or the corporation resulting from or surviving such Corporate Transaction (or the ultimate parent of the Company or such corporation after such Corporate Transaction) except to the extent
that such ownership existed prior to the Corporate Transaction; and (C) at least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction were members of the Incumbent Board at the time of
the execution of the initial agreement, or of the action of the Board, providing for such Corporate Transaction; or 
 iv.
The sale, transfer or other disposition of all or substantially all of the assets of the Company; or 
 v. Approval by the
shareholders of the Company of a complete liquidation or dissolution of the Company. 
 Notwithstanding the foregoing, if a Change of Control occurs, no
subsequent event or condition shall constitute a Change of Control hereunder. 
 For purposes of this definition of “Change of
Control,” securities entitled to vote generally in the election of directors that are issuable upon the exercise of an exercise, conversion or exchange right shall be deemed to be outstanding. In addition, for purposes of this definition of
Change of Control, the following terms have the meanings set forth below: 
 A “Corporate Transaction” means a reorganization,
recapitalization, merger or consolidation of the Company. 
 A Person shall be deemed to be the “owner” of any securities of which
such Person would be the “beneficial owner,” as such term is defined in Rule 13d-3 promulgated by the Securities and Exchange Commission under the Exchange Act. 

“Person” has the meaning used in Rule 13d of the Exchange Act, except that “Person” does not include (i) the
Participant, a Participant-Related Party, or any group of which the Participant or Participant-Related Party is a member, or (ii) the Company or a wholly owned subsidiary of the Company or an employee benefit plan (or related trust) of the
Company or of a wholly owned subsidiary. 
 A “Participant-Related Party” means any affiliate or associate of the Participant
other than the Company or a subsidiary of the Company. The terms “affiliate” and “associate” have the meanings given in Rule 12b-2 under the Exchange Act; the term “registrant” in
the definition of “associate” means, in this case, the Company. 
 Code. “Code” means the Internal Revenue Code of
1986, as amended. 
 Committee. “Committee” means the Compensation Committee of the Board, or such other Committee as may
be appointed and constituted from time to time under Section 4 of the Plan. 

  
 3 

 Company. “Company” means Microvision, Inc. and any successor thereto and,
if applicable, the ultimate parent of any such successor. 
 Date of Termination. “Date of Termination” means the date of
receipt of a notice of termination from the Company or the Participant as applicable or any later date specified in the notice of termination, which date shall not be more than 30 days after the giving of such notice. The Company and the Participant
shall take all steps necessary (including with regard to any post-termination services by the Participant) to ensure that any termination under the Plan constitutes a “separation from service” within the meaning of Section 409A of the
Code, and notwithstanding anything contained herein to the contrary, the date on which such separation from service takes place shall be the “Date of Termination.” 

Designated Participant. The “Designated Participants” are (i) the Company’s Chief Financial Officer, (ii) the
Company’s General Counsel and (iii) such other executives (including, without limitation, an executive who is already a Participant) as may be expressly designated by the Committee in writing as “Designated Participants”
hereunder. None of the foregoing individuals nor any other Participant hereafter designated as a Designated Participant hereunder shall thereafter be designated by the Committee as not being a Designated Participant without his or her prior written
consent. 
 Effective Date. “Effective Date” means November 28, 2011. 

Employee Release. “Employee Release” means a general release in the form attached hereto as Exhibit A, with such changes
thereto that are not materially adverse to the Participant as may be acceptable to the Committee in its sole discretion. 
 Final
Payment. “Final Payment” means the sum of the value of (i) any earned and unpaid Base Salary, payable on the Company’s next regular pay day following the Date of Termination, (ii) any vacation time earned but not used
through the Date of Termination, (iii) any bonus compensation earned for the years preceding that in which the termination occurs and unpaid on the Date of Termination and (iv) any reimbursable business expenses incurred by the Participant
but not yet reimbursed on the Date of Termination, provided that such expenses and required substantiation and documentation are submitted within 60 days of termination, with reimbursement being made promptly after receipt of documentation, but in
any event no later than December 31 of the calendar year following the calendar year in which the expenses were incurred. 
 Good
Reason. “Good Reason” means, without the Participant’s prior written consent, (i) failure of the Company to continue the Participant in his current position; (ii) substantial diminution in the nature and scope of the
Participant’s responsibilities, duties, authority, and upwards reporting requirements of the Participant; provided, however, that the Company’s failure to continue the Participant’s appointment or election as a director or officer of
one of the Company’s Affiliates and any diminution of the business at the Company or any of its Affiliates shall not constitute Good Reason; (iii) material failure of the Company to provide the Participant with Base Salary, or in the case
of a Designated Participant bonus opportunity (at target, expressed as a percentage of Base Salary), as in effect prior to the Change of Control; or (iv) relocation of the Participant’s office more than 35 miles from the then-current location
of the Company’s principal offices without his consent. 

  
 4 

 Option. “Option” means an option to acquire common stock of the Company.

 Option Agreement. “Option Agreement” means an agreement between the Company and a Participant evidencing the award of
Options. 
 Participant. “Participant” means (i) the Company’s Chief Financial Officer, (ii) the
Company’s General Counsel, and (iii) such other executives as may be expressly identified by the Committee in writing as “Participants” hereunder. None of the foregoing individuals nor any other individual hereafter designated as
a Participant hereunder shall thereafter be designated by the Committee as not being a Participant without his or her prior written consent. 

Qualified Termination. A “Qualified Termination” means (i) in the case of a Participant other than a Designated
Participant, any termination of the Participant’s employment on or during the 18-month period following a Change of Control, which such termination is by the Company other than for Cause or by the
Participant for Good Reason; and (ii) in the case of a Designated Participant, any termination of the Designated Participant’s employment on or during the two-year period following a Change of
Control, which such termination is by the Company other than for Cause or by the Designated Participant for Good Reason. 
 Notwithstanding
any other provision of the Plan, the Participant shall not be deemed to have terminated his or her employment for Good Reason hereunder unless (i) the Participant gives notice to the Company within 90 days of the initial occurrence of the event
or condition constituting Good Reason, setting forth in reasonable detail the nature of such Good Reason; (ii) the Company fails to cure within 30 days following such notice; and (iii) the Participant terminates his employment within 30
days following the end of the 30-day cure period (if the Company fails to cure). In addition, for the avoidance of doubt, in no event shall a Participant whose employment is terminated prior to, or more than
two years following, a Change of Control, have experienced a Qualified Termination. 
 Notwithstanding the foregoing, no termination which
is not a “separation from service” for the purposes of Section 409A of the Code shall constitute a Qualified Termination for the purposes of the Plan. 

Target Bonus. The greater of (i) the target bonus amount applicable to a Participant in the year directly preceding the year in
which a Change of Control occurs or (ii) the target bonus amount applicable in the year in which a termination of a Participant’s employment occurs. 

3. Benefits. 
 a. Benefits. In the
event that a Participant has a Qualified Termination, the Company, in addition to providing the Participant the Final Payment, (i) shall pay the Participant an amount equal to one year of Base Salary at the rate in effect at the Date of
Termination or, if higher, on the date of the Change of Control plus a payment equal to the Target Bonus for which the Participant is eligible, which amount shall be payable within 10 business days following the

  
 5 

 
later of the effective date of the Employee Release or the date it is received by the Company; provided that, if the timing associated with the execution, revocation and effectiveness of the
release described in the Employee Release and in Section 3(b) would otherwise allow the payment described in the foregoing clause to be made in either of two taxable years, such payment shall not be made prior to the first day of the second
taxable year, and (ii) shall pay the full cost of the Participant’s continued participation in the Company’s group health and dental plans for one year or, if less, for so long as the Participant remains entitled to continue such
participation under applicable law. In addition, 100% of those Options which are not exercisable, and which have not been exercised and have not expired or been surrendered or cancelled, shall become initially exercisable upon such termination and
shall otherwise be and remain exercisable in accordance with the terms of the Options subject to the Option Agreement, and 100% of any other equity-based compensation awards granted to the Participant, including, but not limited to, restricted stock
and restricted stock units, shall become vested and become free of restrictions. In the event that, after the Effective Date, the Participant enters into an agreement relating to compensation that would be covered by this Section 3(a) if such
agreement were entered into before the Effective Date, then, subject to the other terms of the Plan, this Section 3(a) shall apply in accordance with its terms with respect to such compensation, unless the subsequent agreement expressly
provides otherwise with a specific reference to the Plan. 
 b. Release. The obligations of the Company hereunder, other than for the
Final Payment, if any, are subject to the Participant signing and delivering to the Company, not later than the earlier of (i) 60 days after termination of employment or (ii) the deadline for consideration and execution thereof specified in the
Employee Release, together with the end of any applicable revocation period, the Employee Release. No payment will be made prior to the effective date of the Employee Release and if at the relevant time the Participant is a Specified Employee, so
much of the amounts payable hereunder as constitutes nonqualified deferred compensation subject to Section 409A of the Code and that would be payable during the six-month period following the
Participant’s termination shall instead be accumulated and paid in a single sum upon the day after the conclusion of such six-month period. 

c. WARN Act. Notwithstanding any other provision of the Plan to the contrary, to the extent permitted by the Worker Adjustment and
Retraining Notification Act (“WARN”), any benefit payable hereunder to a Participant as a consequence of the Participant’s Qualified Termination shall be reduced by any amounts required to be paid under Section 2104 of WARN to
such Participant in connection with such Qualified Termination. 
 4. Administration. The Plan shall be administered by the Committee or by such
other committee as may be appointed to administer to coordinate the Plan. If there is no Committee, the Board shall have the rights and responsibilities specified hereunder. Prior to (but not on or after) a Change of Control, (i) the Committee
shall have the right to interpret the Plan, with all of its interpretations to be accorded the maximum deference provided by law, and (ii) the Committee’s determinations shall be final and binding on all parties. If and to the extent
applicable, no member of the Committee may act as to matters under the Plan specifically relating to such member. The Committee shall have the full authority to employ and rely on such legal counsel, actuaries and accountants (which may also be
those of the Employer), and other agents, designees and delegatees, as it may deem advisable to assist in the administration of the Plan. 

  
 6 

 5. Full Settlement. The Company’s obligation to make the payments provided for in the Plan and
otherwise to perform its obligations hereunder shall be absolute and unconditional and shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company
may have against a Participant or others. In no event shall a Participant be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to such Participant under any of the provisions of the Plan and no
amounts received from other employment shall serve to mitigate the payments hereunder. 
 6. Controlling Law. The Plan shall be construed and
enforced under, and be governed in all respects by, the laws of the State of Washington, without regard to the conflict of laws principles thereof; provided, however, that in the event the Company relocates its principal place of business and the
Participant’s principal place of work to another state, the laws of that state shall apply without regard to the conflict of laws principles thereof. 

7. Amendments; Termination. The Company reserves the right to amend, modify, suspend or terminate the Plan at any time by action of a majority of the
Board; provided that the Plan (including, without limitation, this Section 7) as applied to any particular Participant may not be amended or terminated during the two-year period following the Effective
Date in any manner materially adverse to the interests of such Participant without the express written consent of such Participant, and may not be amended or terminated at any time on or after the occurrence of a Change of Control in any manner
adverse to the interests of such Participant. 
 8. Assignment. The Company shall require any corporation, entity, individual or other person who is
the successor (whether direct or indirect by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all the business or assets of the Company to expressly assume and agree to perform, by operation of law, a written
agreement in form and in substance satisfactory to the Company, or otherwise, all of the obligations of the Company under the Plan. It is a condition of the Plan, and all rights of each person eligible to receive benefits under the Plan shall be
subject hereto, that no right or interest of any such person in the Plan shall be assignable or transferable in whole or in part, except by operation of law, including, but not by way of limitation, lawful execution, levy, garnishment, attachment,
pledge, bankruptcy, alimony, child support or qualified domestic relations order. 
 9. Arbitration. 

a. Any dispute, controversy or claim between the parties arising out of the Plan shall be settled by arbitration conducted in Seattle,
Washington in accordance with the rules and procedures of JAMS for the resolution of employment disputes (the “Rules”) and the laws of the State of Washington. 

b. In the event that a party requests arbitration (the “Requesting Party”), it shall serve upon the other party (the “Non-Requesting Party”) within 90 days of the date the Requesting Party knew, or reasonably should have known, of the facts on which the controversy, dispute or claim is based, a written demand for
arbitration stating the substance of the controversy, dispute or claim and the contention of the Requesting Party. An arbitrator shall be selected in accordance with the Rules, with the Requesting Party initiating that process within 30 days of the
date it serves demand for arbitration on the Non-Requesting Party (or such longer period to which the parties shall agree in writing.). 

  
 7 

 c. The function of the arbitrator shall be to determine the interpretation and application
of the specific provisions of this Plan to the issues submitted to arbitration. There shall be no right in arbitration to obtain, and no arbitrator shall have any authority to award or determine, any change in, addition to, or detraction from, any
of the provisions of this Plan. The decision of the arbitrator shall be in writing, shall set forth the basis for the decision and shall be rendered within 30 business days following the hearing. The decision of the arbitrator acting within the
scope of his authority shall be final and binding upon the parties and may be enforced and executed upon in any court having jurisdiction over the party against whom enforcement of such decision is sought. 

d. The parties involved in the dispute shall divide equally the administrative charges, arbitrator’s fees and related expenses of the
arbitration; but each party shall pay its own legal fees and expenses incurred in connection with such arbitration. 
 10. Withholding. The Company
shall be entitled to withhold from any payments or deemed payments any amount of tax withholding required by law. 
 11. Gender and Plurals. Wherever
used in the Plan, words in the masculine gender shall include masculine or feminine gender, and, unless the context otherwise requires, words in the singular shall include the plural, and words in the plural shall include the singular. 

12. Plan Controls. In the event of any inconsistency between the Plan and any other communication regarding the Plan, the Plan controls. 

13. Benefits Claims and Appeals. A Participant shall have 60 days following receipt of any adverse benefit determination within which to appeal the
determination in writing with the Committee, and that the Committee must respond in writing within 60 days of receiving the appeal, specifically identifying those Plan provisions on which the benefit denial was based and indicating what, if any,
information the Participant must supply in order to perfect a claim for benefits. Notwithstanding the foregoing, the claims and appeals procedure established by the Committee will be provided for the use and benefit of Participants who may choose to
avail themselves of such procedures, but compliance with the provisions of these claims and appeals procedures by the Participant will not be mandatory for any Participant whose claim or appeal is filed after a Change of Control. 

14. Grantor Trust. The Committee may establish a trust with a bank trustee, for the purpose of paying benefits under the Plan. If so established, the
trust shall be a grantor trust subject to the claims of the Company’s creditors and shall, immediately prior to a Change of Control, be funded in cash or common stock of the Company or such other assets as the Committee deems appropriate with
an amount equal to 100% of the aggregate benefits payable under the Plan assuming that all Participants in the Plan incurred a termination of employment entitling them to the benefits described in Section 3 immediately following the Change of
Control, or such lesser amount as the Committee shall determine prior to the Change of Control; provided, however, that the trust shall not be funded if the funding thereof would result in taxable income to the

  
 8 

 
Participant by reason of Section 409A(b) of the Code; and provided, further, that in no event shall any trust assets at any time be located or transferred outside of the United States,
within the meaning of Section 409A(b) of the Code. Notwithstanding the establishment of any such trust, a Participant’s rights hereunder will be solely those of a general unsecured creditor. 

15. Employment Status. The Plan does not constitute a contract of employment or impose on the Participant or the Company any obligation to retain the
Participant as an employee, to change the status of the Participant’s employment, or to change the Company’s policies or those of its Affiliates regarding termination of employment. 

  
 9 

 EXHIBIT A 

RELEASE OF CLAIMS 
 FOR AND IN CONSIDERATION OF
the benefits to be provided me in connection with the termination of my employment, as set forth in the Microvision, Inc. Change of Control Severance Plan, dated as of [____________] (the “Plan”), which are conditioned on my signing
this Release of Claims and to which I am not otherwise entitled, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, I, on my own behalf and on behalf of my heirs, executives, administrators,
beneficiaries, representatives and assigns, and all others connected with me, hereby release and forever discharge MICROVISION, INC. (the “Company”), its subsidiaries and other affiliates and all of their respective past, present and
future officers, directors, trustees, shareholders, employees, agents, general and limited partners, members, managers, joint venturers, representatives, successors and assigns, and all others connected with any of them, both individually and in
their official capacities, from any and all causes of action, rights and claims of any type or description, known or unknown, which I have had in the past, now have, or might now have, through the date of my signing of this Release of Claims, in any
way resulting from, arising out of or connected with my employment by the Company or any of its subsidiaries or other affiliates or the termination of that employment or pursuant to any federal, state or local law, regulation or other requirement
(including without limitation Washington Law Against Discrimination (RCW 49.60), the Washington Prohibited Employment Practices Law (RCW 49.44), the Washington Minimum Wage Act (RCW 49.46), Washington’s Little Norris-LaGuardia Act (RCW 49.32),
the Civil Rights Act of 1964 (including Title VII of that Act), the Equal Pay Act of 1963, the Age Discrimination in Employment Act of 1967 (ADEA), the Americans with Disabilities Act of 1990 (ADA), the Fair Labor Standards Act of 1938 (FLSA), the
Family and Medical Leave Act of 1993 (FMLA), the Worker Adjustment and Retraining Notification Act (WARN), the Employee Retirement Income Security Act of 1974 (ERISA), the National Labor Relations Act (NLRA), and the fair employment practices laws
of the state or states in which I have been employed by the Company or any of the subsidiaries or other affiliates, each as amended from time to time). 

Excluded from the scope of this Release of Claims is (i) the Final Payment (as defined in the Agreement) owed to the Participant pursuant to the Plan,
(ii) any claim arising under the terms of the Plan after the effective date of this Release of Claims, (iii) any right of indemnification or contribution that I have pursuant to the Articles of Incorporation or By-Laws of the Company or any of its subsidiaries or other affiliates and (iv) any non-forfeitable rights to accrued benefits, if any, arising under any applicable
employee benefit plans. 
 I agree that I have no right to obtain or receive any monetary damages or other relief of any kind as a result of any action or
proceeding by me or by anyone else on my behalf regarding any claims covered by the above general release and, to the extent permitted by law, I agree that I will not seek or accept any monetary damages or other relief of any kind in any such action
or proceeding. In addition, without limiting the scope of the foregoing, I expressly (i) agree not to be a class representative or be part of a class regarding any action under ERISA, or otherwise to bring an action under ERISA on behalf of a
plan or trust for relief for such plan or trust under ERISA, and (ii) to the extent permitted by law, agree not to retain the benefits of any decision, judgment or settlement in any such action. 

  
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 In signing this Release of Claims, I acknowledge my understanding that I may not sign it prior to the
termination of my employment, but that I may consider the terms of this Release of Claims for up to 21 days (or such longer period as the Company may specify) from the later of the date my employment with the Company terminates or the date I receive
this Release of Claims. I also acknowledge that I am advised by the Company and its subsidiaries and other affiliates to seek the advice of an attorney prior to signing this Release of Claims; that I have had sufficient time to consider this Release
of Claims and to consult with an attorney, if I wished to do so, or to consult with any other person of my choosing before signing; and that I am signing this Release of Claims voluntarily and with a full understanding of its terms. 

I further acknowledge that, in signing this Release of Claims, I have not relied on any promises or representations, express or implied, that are not set
forth expressly in the Plan. I understand that I may revoke this Release of Claims at any time within seven days of the date of my signing by written notice to the [Director, Human Resources] of the Company and that this Release of Claims
will take effect only upon the expiration of such seven-day revocation period and only if I have not timely revoked it. 

Intending to be legally bound, I have signed this Release of Claims under seal as of the date written below. 

Signature: _____________________________________________ 
 Name
(please print): ____________________________________ 
 Date Signed: ___________________________________________ 

  
 11

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