Document:

Exhibit 10.1

 

THIS
SUBSCRIPTION AGREEMENT IS EXECUTED IN RELIANCE UPON (1) THE EXEMPTION PROVIDED BY SECTION 4(A)(2) AND REGULATION D, RULE 506 FOR
TRANSACTIONS NOT INVOLVING A PUBLIC OFFERING UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
(2) THE EXEMPTION TO AN OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN)
PURSUANT TO RULE 903 OF REGULATION S (“REGULATION S”) PROMULGATED UNDER THE SECURITIES ACT THIS OFFERING IS BEING MADE
TO ACCREDITED INVESTORSAND/OR TO NON-U.S. PERSONS PURSUANT TO RULE 903 OF REGULATION S PROMULGATED UNDER THE SECURITIES ACT. NONE
OF THE SECURITIES TO WHICH THIS SUBSCRIPTION RELATES HAVE BEEN REGISTERED UNDER THE SECURITIES ACT, OR ANY U.S. STATE SECURITIES
LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, EXCEPT IN ACCORDANCE WITH THE PROVISIONS
OF REGULATION D OR REGULATION S UNDER THE SECURITIES ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE
SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE SECURITIES ACT.

 

Quantum Computing,
INC.

 

SUBSCRIPTION AGREEMENT

 

SUBSCRIPTION AGREEMENT
(“Subscription Agreement”) made as of this_ _ day of _ _ _ _ _ 2020 between Quantum
Computing, Inc., a Delaware corporation (the “Company”), and the undersigned (the “Subscriber”).

 

WHEREAS,
the Company is conducting a private offering (the “Offering”), consisting of up to a maximum of up to ____________
shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”)
for aggregate gross proceeds of up to $____________ (the “Maximum Offering”). Each shares of Common Stock will be sold
at a price of $2.50 per share (the “Purchase Price”). The Shares being subscribed for pursuant to this Subscription
have not been registered under the Securities Act. The offer of the Securities and, if this Subscription is accepted by the Company,
the sale of Securities, is being made in reliance upon Section 4(a)(2) and/or Rule 506 of Regulation D of the Securities Act or
Rule 903 of Regulation S promulgated under the Securities Act; and

 

WHEREAS,
the Subscriber desires to purchase that number of shares of Common Stock set forth set forth opposite such Subscriber’s name
on such signature page hereto on the terms and conditions hereinafter set forth.

 

I. SUBSCRIPTION
FOR SECURITIES; COVENANTS OF THE COMPANY

 

1.1 Subscription for
Shares. Subject to the terms and conditions hereinafter set forth, the Subscriber hereby irrevocably subscribes for and agrees
to purchase from the Company, and the Company agrees to sell to the Subscriber, such number of shares of Common Stock as is set
forth on the signature page hereof. The Purchase Price is payable by wire transfer to the Company in accordance with the wire instructions
set forth on Exhibit B attached hereto.

 

     

     

    

 

1.2
Offering Period. The Shares will be offered for sale until the earlier of (i) the date upon which subscriptions for the Maximum
Offering offered hereunder have been accepted, (ii) ________, 2020 (subject to the right of the Company to extend the offering
for up to an additional 90 days without further notice to investors), or (iii) the date, prior to December 31, 2020 (or up to an
additional 90 days), upon which the Company elects to terminate the Offering (the “Termination Date”). The Offering
is being conducted on a “best-efforts” basis.

 

1.3 Closing. The Company
may hold an initial closing (“Initial Closing”) at any time after the receipt of accepted subscriptions from qualified
investors prior to the Termination Date. After the Initial Closing, subsequent closings with respect to additional Shares may take
place at any time prior to the Termination Date as determined by the Company, with respect to subscriptions accepted prior to the
Termination Date (each such closing, together with the Initial Closing, being referred to as a “Closing”). The last
Closing of the Offering, occurring on or prior to the Termination Date, shall be referred to as the “Final Closing”.
Any subscription documents or funds received after the Final Closing will be returned, without interest or deduction. In the event
that the any Closing does not occur prior to the Termination Date, all amounts paid by the Subscriber shall be returned to the
Subscriber, without interest or deduction.

 

II. REPRESENTATIONS
AND WARRANTIES OF THE SUBSCRIBER

 

The Subscriber represents
and warrants to the Company, with the intent that the Company will rely thereon, that:

 

2.1
Accredited Investor or Non-U.S. Person The Subscriber is either (i) an “accredited investor” as such term is defined
in Rule 501 of Regulation D promulgated under the Securities Act, it is able to bear the economic risk of any investment in the
Shares and the information furnished in the accompanying investor questionnaire, which is attached hereto as Exhibit A-1,
is accurate and complete in all material respects or (ii) it is not a U.S. Person (a “Reg S Person”), and the representations
contained in the information furnished in the accompanying investor questionnaire, which is attached hereto as Exhibit A-2,
is accurate and complete in all material respects.

 

2.2
Reliance on Exemptions. The Subscriber acknowledges that the Offering has not been reviewed by the Securities and Exchange Commission
(the “Commission”) or any state agency because it is intended to be an offering exempt from the registration requirements
of the Securities Act and state securities laws. The Subscriber understands that the Company is relying in part upon the truth
and accuracy of, and the Subscriber’s compliance with the representations, warranties, agreements, acknowledgments and understandings
of the Subscriber set forth herein in order to determine the availability of such exemptions and the eligibility of the Subscriber
to acquire the Securities.

 

2.3
Investment Purpose. The Subscriber is purchasing the Shares as principal for its own account, and, in the case of a Non-U.S. Person,
not for the account or benefit of, directly or indirectly, any U.S. Person. The Subscriber is purchasing the Shares for investment
purposes only and not with an intent or view towards further sale or distribution (as such term is used in Section 2(a)(11) of
the Securities Act) thereof, and has not pre-arranged any sale with any other purchaser and has no plans to enter into any such
agreement or arrangement. If the Subscriber is a Non-U.S. Person, such Subscriber has no intention to distribute either directly
or indirectly any of the Shares in the United States or to U.S. Persons.

 

2.4
Risk of Investment. The Subscriber recognizes that the purchase of the Shares involves a high degree of risk in that: (a) an investment
in the Company is highly speculative and only investors who can afford the loss of their entire investment should consider investing
in the Company and the Shares; (b) transferability of the Shares is limited; and (c) the Company may require substantial additional
funds to operate its business and subsequent equity financings will dilute the ownership and voting interests of Subscriber.

 

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2.5
No Registration. The Shares have not been registered under the Securities Act or any state securities laws and may not be transferred,
sold, assigned, hypothecated or otherwise disposed of unless registered under the Securities Act and applicable state securities
laws or unless an exemption from such registration is available (including, without limitation, under Rule 144 of the Securities
Act, as such rule may be amended, or any similar rule or regulation hereafter adopted by the Commission having substantially the
same effect (“Rule 144”)). The Subscriber represents and warrants and hereby agrees that all offers and sales of the
Shares shall be made only pursuant to such registration or to such exemption from registration.

 

2.6
Prior Investment Experience. The Subscriber is sufficiently experienced in financial and business matters to be capable of evaluating
the merits and risks of its investments, and to make an informed decision relating thereto, and to protect its own interests in
connection with the purchase of the Shares.

 

2.7
Information. The Subscriber acknowledges careful review of this Subscription Agreement and exhibits thereto (collectively, the
“Offering Documents”) as well as the Company’s filings with the Commission, as required pursuant to the Securities
and Exchange Act of 1934, as amended (the “Exchange Act”) which are available on the Internet at www.sec.gov,
all of which the undersigned acknowledges have been provided to the undersigned. The undersigned has been given the opportunity
to ask questions of, and receive answers from, the Company concerning the terms and conditions of this Offering and the Offering
Documents and to obtain such additional information, to the extent the Company possesses such information or can acquire it without
unreasonable effort or expense, necessary to verify the accuracy of same as the undersigned reasonably desires in order to evaluate
the investment. The undersigned understands the Offering Documents, and the undersigned has had the opportunity to discuss any
questions regarding any of the Offering Documents with its counsel or other advisor. Notwithstanding the foregoing, the only information
upon which the undersigned has relied is that set forth in the Offering Documents. The undersigned has received no representations
or warranties from the Company, its employees, agents or attorneys in making this investment decision other than as set forth in
the Offering Documents. The undersigned does not desire to receive any further information.

 

2.8 Investment Decision.
In making the decision to invest in the Shares the Subscriber has relied solely upon the information provided by the Company in
the Offering Documents. To the extent necessary, the Subscriber has retained, at its own expense, and relied upon appropriate professional
advice regarding the investment, tax and legal merits and consequences of this Subscription Agreement and the purchase of the Shares
hereunder. The Subscriber disclaims reliance on any statements made or information provided by any person or entity in the course
of Subscriber’s consideration of an investment in the Shares other than the Offering Documents.

 

2.9
No Representations. The Subscriber hereby represents that, except as expressly set forth in the Offering Documents, no representations
or warranties have been made to the Subscriber by the Company or any agent, employee or affiliate of the Company, and in entering
into this transaction the Subscriber is not relying on any information other than that contained in the Offering Documents and
the results of independent investigation by the Subscriber.

 

2.10
Tax Consequences. The Subscriber acknowledges that the Offering may involve tax consequences and that the contents of the Offering
Documents do not contain tax advice or information. The Subscriber acknowledges that it must retain its own professional advisors
to evaluate the tax and other consequences of an investment in the Shares.

 

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2.11
No Recommendation or Endorsement. The Subscriber understands that no federal, state or other regulatory authority has passed on
or made any recommendation or endorsement of the Shares. Furthermore, the foregoing authorities have not confirmed the accuracy
or determined the adequacy of this Subscription Agreement. Any representation to the contrary is a criminal offense.

 

2.12
No General Solicitation. The Subscriber represents that the Subscriber was not induced to invest by any form of general solicitation
or general advertising including, but not limited to, the following: (a) any advertisement, article, notice or other communication
published in any newspaper, magazine or similar media or broadcast over the news or radio; and (b) any seminar or meeting whose
attendees were invited by any general solicitation or advertising.

 

2.13
No Directed Selling Efforts. If the Subscriber is a non-U.S. Person, the Subscriber has not acquired the Shares as a result of,
and will not itself engage in, any “directed selling efforts” (as defined in Regulation S under the Securities Act)
in the United States in respect of the Shares which would include any activities undertaken for the purpose of, or that could reasonably
be expected to have the effect of, conditioning the market in the United States for the resale of the Shares; provided, however,
that the Subscriber may sell or otherwise dispose of the Shares pursuant to registration thereof under the Securities Act and any
applicable state and provincial securities laws or under an exemption from such registration requirements; 

 

2.14
No Plan or Scheme. If the Subscriber is a non-U.S. Person, the Subscriber acknowledges that the statutory and regulatory basis
for the exemption from U.S registration requirements claimed for the offer of the Shares, although in technical compliance with
Regulation S, would not be available if the offering is part of a plan or scheme to evade the registration provisions of the Securities
Act or any applicable state or provincial securities laws;

 

2.15
The Subscriber. The Subscriber (i) if a natural person, represents that the Subscriber has reached the age of 21 and has full power
and authority to execute and deliver this Subscription Agreement and all other related agreements or certificates and to carry
out the provisions hereof and thereof; (ii) if a corporation, partnership, or limited liability company or partnership, or association,
joint stock company, trust, unincorporated organization or other entity, represents that such entity was not formed for the specific
purpose of acquiring the Shares, such entity is duly organized, validly existing and in good standing under the laws of the state
of its organization, the consummation of the transactions contemplated hereby is authorized by, and will not result in a violation
of state law or its charter or other organizational documents, such entity has full power and authority to execute and deliver
this Subscription and all other related agreements or certificates and to carry out the provisions hereof and thereof and to purchase
and hold the Shares, the execution and delivery of this Subscription has been duly authorized by all necessary action, this Subscription
Agreement has been duly executed and delivered on behalf of such entity and is a legal, valid and binding obligation of such entity;
or (iii) if executing this Subscription Agreement in a representative or fiduciary capacity, represents that it has full power
and authority to execute and deliver this Subscription in such capacity and on behalf of the subscribing individual, ward, partnership,
trust, estate, corporation, or limited liability company or partnership, or other entity for whom the Subscriber is executing this
Subscription Agreement, and such individual, partnership, ward, trust, estate, corporation, or limited liability company or partnership,
or other entity has full right and power to perform pursuant to this Subscription and make an investment in the Company, and represents
that this Subscription constitutes a legal, valid and binding obligation of such entity. The execution and delivery of this Subscription
Agreement will not violate or be in conflict with any order, judgment, injunction, agreement or controlling document to which the
Subscriber is a party or by which it is bound;

 

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2.16 Legends.The Subscriber
consents to the placement of a legend on any certificate or other document evidencing the Shares that such securities have not
been registered under the Securities Act or any state securities or “blue sky” laws and setting forth or referring
to the restrictions on transferability and sale thereof contained in this Subscription Agreement. The Subscriber is aware that
the Company will make a notation in its appropriate records with respect to the restrictions on the transferability of such Shares.
The legend to be placed on each certificate shall be in form substantially similar to the following:

 

For
U.S. Persons:

 

THESE
SECURITIES HAVE BEEN ISSUED PURSUANT TO THE EXEMPTION FROM THE REGISTRATION PROVISIONS UNDER THE SECURITIES ACT OF 1933, AS AMENDED
PROVIDED BY RULE 506 OF REGULATION D UNDER SUCH ACT AND/OR SECTION 4(A)(2) OF SUCH ACT. THESE SECURITIES CANNOT BE TRANSFERRED,
OFFERED, OR SOLD UNLESS THE SECURITIES ARE REGISTERED UNDER THE SECURITIES ACT OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT IS AVAILABLE.

 

For
Non-U.S. Persons:

 

THESE
SECURITIES WERE ISSUED IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION
S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”). ACCORDINGLY, NONE OF THE SECURITIES
TO WHICH THIS CERTIFICATE RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED,
NONE MAY BE OFFERED OR SOLD IN THE UNITED STATES (AS DEFINED HEREIN) OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS (AS DEFINED HEREIN)
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION,
HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE 1933 ACT. “UNITED STATES”
AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of the Shares
upon which it is stamped, if (a) such Securities are being sold pursuant to a registration statement under the Securities Act,
(b) such holder delivers to the Company an opinion of counsel, in a reasonably acceptable form, to the Company that a disposition
of the Shares is being made pursuant to an exemption from such registration, or (c) such holder provides the Company with reasonable
assurance that a disposition of the Shares may be made pursuant to the Rule 144 under the Securities Act without any restriction
as to the number of securities acquired as of a particular date that can then be immediately sold.

 

2.17
Address. The Subscriber hereby represents that the address of the Subscriber furnished by the Subscriber at the end of this Subscription
Agreement is the undersigned’s principal residence if the Subscriber is an individual or its principal business address if
it is a corporation or other entity.

 

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2.18
Foreign Subscriber. If the Subscriber is not a United States person, such Subscriber hereby represents that it has satisfied itself
as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Shares or any
use of this Subscription Agreement, including: (a) the legal requirements within its jurisdiction for the purchase of the Shares;
(b) any foreign exchange restrictions applicable to such purchase; (c) any governmental or other consents that may need to be obtained;
and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer
of the Shares. Such Subscriber’s subscription and payment for, and its continued beneficial ownership of the Shares, will
not violate any applicable securities or other laws of the Subscriber’s jurisdiction.

 

2.19
Survival. The representations and warranties of the Subscriber contained herein will be true at the date of execution of this Subscription
Agreement by the Subscriber and as of the Closing Date in all material respects as though such representations and warranties were
made as of such times and shall survive the Closing Date and the delivery of the Shares. The Subscriber agrees that it will notify
and supply corrective information to the Company immediately upon the occurrence of any change therein occurring prior to the Company’s
issuance of the Shares.

 

III. REPRESENTATIONS
BY THE COMPANY

 

The
Company represents and warrants to the Subscriber, except as set forth in the disclosure schedules attached hereto:

 

3.1 Organization. The
Company is duly organized and validly existing in good standing under the laws of the jurisdiction of its organization. The Company
has full power and authority to own, operate and occupy its properties and to conduct its business as presently conducted, and
is registered or qualified to do business and in good standing in each jurisdiction in which the nature of the business conducted
by it or the location of the properties owned or leased by it requires such qualification and where the failure to be so qualified
would have a material adverse effect upon the Company’s financial condition (a “Material Adverse Effect”), and
no proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing, or seeking to revoke, limit or curtail,
such power and authority or qualification.

 

3.2 Due Authorization
and Valid Issuance. The Company has all requisite power and authority to execute, deliver and perform its obligations under the
Offering Documents, and when executed and delivered by the Company will constitute legal, valid and binding agreements of the Company
enforceable against the Company in accordance with their terms, except as rights to indemnity and contribution may be limited by
state or federal securities laws or the public policy underlying such laws, and except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights
generally, and except as enforceability may be subject to general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

 

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3.3 Noncontravention.
The execution and delivery of the Offering Documents, the issuance and sale of the Shares under the Offering Documents, the fulfillment
of the terms of the Offering Documents, and the consummation of the transactions contemplated thereby will not (i) conflict
with or constitute a violation of, or default (with the passage of time or otherwise) under (1) any material bond, debenture, note
or other evidence of indebtedness, lease, contract, indenture, mortgage, deed of trust, loan agreement, joint venture or other
agreement or instrument to which the Company is a party or by which it or any of its properties are bound, (2) the charter, bylaws
or other organizational documents of the Company or any subsidiary or (3) any law, administrative regulation, ordinance or order
of any court or governmental agency, arbitration panel or authority applicable to the Company or its properties, except for any
such conflicts, violations or defaults that are not reasonably likely to have a Material Adverse Effect, or (ii) result in the
creation or imposition of any lien, encumbrance, claim, security interest or restriction whatsoever upon any of the material properties
or assets of the Company or an acceleration of indebtedness pursuant to any obligation, agreement or condition contained in any
material bond, debenture, note or any other evidence of indebtedness, indenture, mortgage, deed of trust or any other agreement
or instrument to which the Company is a party or by which it is bound or to which any of the material property or assets of the
Company is subject. No consent, approval, authorization or other order of, or registration, qualification or filing with, any regulatory
body, administrative agency, or other governmental body in the United States or any other person is required for the execution
and delivery of the Offering Documents and the valid issuance and sale of the Shares to be sold pursuant to the Offering Documents,
other than such as have been made or obtained, and except for any post-closing securities filings or notifications required to
be made under federal or state securities laws.

 

3.4 No Violation. The
Company is not (a) in violation of its charter, bylaws or other organizational document; or (b) in violation of any law except
for any such violations that are not reasonably likely to have a Material Adverse Effect.

 

3.5 Filings, Consents
and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or
make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person
in connection with the execution, delivery and performance by the Company of the Agreement, other than: (i) the filings required
pursuant to this Agreement, , (ii) the notice and/or application(s), to the extent applicable, to each applicable trading market
for the issuance and sale of the Shares and the listing of the Shares for trading thereon in the time and manner required thereby,
and (iii) the filing of Form D with the Commission and such filings as are required to be made under applicable state securities
laws, if applicable (collectively, the “Required Approvals”).

 

3.6
Issuance of the Shares. The Shares are duly authorized and, when issued and paid for in accordance with the Agreement, will
be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions
on transfer provided for in the Agreement. The Company does not have any stock appreciation rights or “phantom stock”
plans or agreements or any similar plan or agreement. All of the outstanding shares of capital stock of the Company are duly authorized,
validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities laws. No further
approval or authorization of any stockholder, the Board of Directors or others is required for the issuance and sale of the Shares.
There are no stockholders agreements, voting agreements or other similar agreements with respect to the Company’s capital
stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s stockholders.

 

3.7
Litigation. There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge
of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by
any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign)
(collectively, an “Action”) which (i) adversely affects or challenges the legality, validity or enforceability
of any of the Agreement or the Shares or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result
in a Material Adverse Effect. Neither the Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject
of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary
duty. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission
involving the Company or any current or former director or officer of the Company. The Commission has not issued any stop order
or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange
Act or the Securities Act. 

 

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3.8 Labor
Relations. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of
the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its Subsidiaries’
employees is a member of a union that relates to such employee’s relationship with the Company or such Subsidiary, and neither
the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe
that their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or
any Subsidiary is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure
or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant
in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of
its Subsidiaries to any liability with respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance
with all U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices, terms and
conditions of employment and wages and hours, except where the failure to be in compliance could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

 

3.9
Regulatory Permits. The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the
appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses, except where
the failure to possess such permits could not reasonably be expected to result in a Material Adverse Effect (“Material
Permits”), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation
or modification of any Material Permit.

 

3.10
Title to Assets. The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned
by them and good and marketable title in all personal property owned by them that is material to the business of the Company and
the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such
property and do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries,
and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have been made therefor in accordance
with GAAP and the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under
lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company
and the Subsidiaries are in compliance.

 

3.11
Intellectual Property. The Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks,
trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property
rights and similar rights necessary or required for use in connection with their respective businesses and which the failure to
so have could have a Material Adverse Effect (collectively, the “Intellectual Property Rights”). Neither the
Company nor any Subsidiary has received, since the date of the latest audited financial statements, a written notice of a claim
or otherwise has any knowledge that the Intellectual Property Rights violate or infringe upon the rights of any Person, except
as could not have or reasonably be expected to not have a Material Adverse Effect. To the knowledge of the Company, all such Intellectual
Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights.
The Company and its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value of all
of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.

 

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3.12
Private Placement. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 2,
no registration under the Securities Act is required for the offer and sale of the Shares by the Company to the Purchasers as contemplated
hereby. The issuance and sale of the Shares hereunder does not contravene the rules and regulations of the Company’s trading
market.

 

3.13
Foreign Corrupt Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary,
any agent or other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for
unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii)
made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties
or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made
by any person acting on its behalf of which the Company is aware) which is in violation of law or (iv) violated in any material
respect any provision of FCPA.

 

3.14
Acknowledgment Regarding Purchasers’ Purchase of Shares. The Company acknowledges and agrees that each of the Purchasers
is acting solely in the capacity of an arm’s length purchaser with respect to the Agreement and the transactions contemplated
thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in
any similar capacity) with respect to the Agreement and the transactions contemplated thereby and any advice given by any Purchaser
or any of their respective representatives or agents in connection with the Agreement and the transactions contemplated thereby
is merely incidental to the Purchasers’ purchase of the Shares. The Company further represents to each Purchaser that the
Company’s decision to enter into this Agreement and the other Agreement has been based solely on the independent evaluation
of the transactions contemplated hereby by the Company and its representatives.

 

3.15
Office of Foreign Assets Control. Neither the Company, nor to the Company’s knowledge, any director, officer, agent, employee
or affiliate of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of
the U.S. Treasury Department (“OFAC”).

 

3.16
U.S. Real Property Holding Corporation. The Company is not and has never been a U.S. real property holding corporation within
the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Subscriber’s
request.

 

3.17
Bank Holding Company Act. Neither the Company nor any of its Affiliates is subject to the Bank Holding Company Act of 1956,
as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal
Reserve”). Neither the Company nor any of its Affiliates owns or controls, directly or indirectly, five percent (5%) or more
of the outstanding shares of any class of voting securities or twenty-five percent (25%) or more of the total equity of a bank
or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the Company nor any of its Affiliates
exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation
by the Federal Reserve.

 

    9

     

    

 

IV. INDEMNIFICATION

 

4.1
The Subscriber agrees to indemnify and hold harmless the Company and any Placement Agent against and in respect of any and all
loss, liability, claim, damage, deficiency, and all actions, suits, proceedings, demands, assessments, judgments, costs and expenses
whatsoever (including, but not limited to, attorneys’ fees reasonably incurred in investigating, preparing, or defending against
any litigation commenced or threatened or any claim whatsoever through all appeals) arising out of or based upon any false representation
or warranty or breach or failure by the Subscriber to comply with any covenant, representation or other provision made by it herein
or in any other document furnished by it in connection with this Subscription Agreement, provided, however, that such indemnity,
shall in no event exceed the net proceeds received by the Company from the Subscriber as a result of the sale of Shares to the
Subscriber.

 

4.2
The Company agrees to indemnify and hold harmless the Subscriber against and in respect of any and all loss, liability, claim,
damage, deficiency, and all actions, suits, proceedings, demands, assessments, judgments, costs and expenses whatsoever (including,
but not limited to, attorneys’ fees reasonably incurred in investigating, preparing, or defending against any litigation commenced
or threatened or any claim whatsoever through all appeals) arising out of or based upon any false representation or warranty or
breach or failure by the Company to comply with any covenant, representation or other provision made by it herein or in any other
document furnished by it in connection with this Subscription Agreement, provided, however, that such indemnity, shall in no event
exceed the net proceeds received by the Company from the Subscriber as a result of the sale of Shares to the Subscriber.

 

V. MISCELLANEOUS

 

5.1
Notice. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Subscription
Agreement must be in writing and will be deemed to have been delivered: (a) upon receipt, when delivered personally, (b) upon receipt,
when sent by e-mail (provided confirmation of transmission is mechanically or electronically generated and kept on file by the
sending party), or (c) one (1) business day after deposit with an overnight courier service, in each case properly addressed to
the party to receive the same. The addresses and facsimile numbers for such communications shall be:

 

To the Company:

 

Quantum
Computing, Inc. 

 

xxxxxx 

xxxxxxx 

xxxxxxxx 

Attention:
Chris Roberts 

(xxx)
xxx. 

[email]

 

If
to the Subscriber, to its address and facsimile number set forth at the end of this Subscription Agreement, or to such other address
and/or facsimile number and/or to the attention of such other person as specified by written notice given to the Company five (5)
days prior to the effectiveness of such change. Written confirmation of receipt (a) given by the recipient of such notice, consent,
waiver or other communication, (b) mechanically or electronically generated by the sender’s facsimile machine containing
the time, date, recipient facsimile number and an image of the first page of such transmission, or (c) provided by an overnight
courier service shall be rebuttable evidence of personal service, receipt by facsimile or receipt from an overnight courier service
in accordance with clause (a), (b) or (c) above, respectively.

 

    10

     

    

 

5.2
Entire Agreement; Amendment; Waiver. This Subscription Agreement supersedes all other prior oral or written agreements between
the Subscriber, the Company, their affiliates and persons acting on their behalf with respect to the matters discussed herein,
and this Subscription Agreement and the instruments referenced herein contain the entire understanding of the parties with respect
to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor the
Subscriber makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Subscription
Agreement may be amended or waived other than by an instrument in writing signed by the Company and the holders of at least a majority
of the Shares then outstanding (determined on an as exercised to common stock basis) (or if prior to the closing, the Subscribers
purchasing at least a majority of the Shares to be purchased at the closing). No such amendment shall be effective to the extent
that it applies to less than all of the holders of the Sharess then outstanding.

 

5.3
Severability. If any provision of this Subscription Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity
or unenforceability shall not affect the validity or enforceability of the remainder of this Subscription Agreement in that jurisdiction
or the validity or enforceability of any provision of this Subscription Agreement in any other jurisdiction.

 

5.4
Governing Law; Jurisdiction; Waiver of Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Subscription Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice
of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the
application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the non-exclusive
jurisdiction of the state and federal courts sitting in New York County, New York for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees
not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court,
that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is
improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit,
action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Subscription Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party hereby irrevocably waives
any right it may have, and agrees not to request, a jury trial for the adjudication of any dispute hereunder or in connection with
or arising out of this Subscription Agreement or any transaction contemplated hereby.

 

5.5
Headings. The headings of this Subscription Agreement are for convenience of reference and shall not form part of, or affect the
interpretation of, this Subscription Agreement.

 

5.6
Successors and Assigns. This Subscription Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns. The Company shall not assign this Subscription Agreement or any rights or obligations hereunder without
the prior written consent of the holders of at least a majority the Shares then outstanding, except by merger or consolidation.
The Subscriber shall not assign its rights hereunder without the consent of the Company, which consent shall not be unreasonably
withheld.

 

    11

     

    

 

5.7
No Third Party Beneficiaries. This Subscription Agreement is intended for the benefit of the parties hereto and their respective
permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

5.8
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Subscription Agreement and the consummation of the transactions
contemplated hereby.

 

5.9
Legal Effect. The Subscriber acknowledges that: (a) it has read this Subscription Agreement and the exhibits hereto; and (b) it
understands the terms and consequences of this Subscription Agreement and is fully aware of its legal and binding effect.

 

5.10
No Strict Construction. The language used in this Subscription Agreement will be deemed to be the language chosen by the parties
to express their mutual intent, and no rules of strict construction will be applied against any party.

 

5.11
Independent Legal Advice. The parties hereto acknowledge that they have each received independent legal advice with respect to
the terms of this Subscription Agreement and the transactions contemplated herein or have knowingly and willingly elected not to
do so

 

5.12
Counterparts. This Subscription Agreement may be executed in two or more counterparts each of which shall be deemed an original,
but all of which shall together constitute one and the same instrument. In the event that any signature is delivered by facsimile
transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

[Signature
page follows.]

 

    12

     

    

 

NUMBER OF SHARES:
__________ x $2.50 = $ _________________(the “Purchase
Price”)

 

	 	 	 
	Signature	 	Signature (if purchasing
    jointly)
	 	 	 
	Name Typed or Printed	 	Name Typed or Printed
	 	 	 
	Title (if Subscriber
    is an Entity)	 	Title (if Subscriber
    is an Entity)

 

	Entity Name (if applicable)	 	Entity Name (if applicable
	 	 	 
	Address	 	Address
	 	 	 
	City, State and Zip Code	 	City, State and Zip Code
	 	 	 
	Telephone - Business	 	Telephone - Business
	 	 	 
	Telephone-Residence	 	Telephone-Residence
	 	 	 
	Email Address	 	Email Address

 

	Tax ID # or Social Security #	 	Tax ID # or Social Security # 

(in
case of non-USA subscribers – Company ID or Drivers License Number)

 

Name
in which securities should be issued:

  

Dated:

 

This
Subscription Agreement is agreed to and accepted as of ________________, 2020.

 

	Quantum
    Computing, Inc.	 
	 	 
	By:	 	 
	Name:  	Robert
    Liscouski	 
	Title:
    	Chief
    Executive Officer	 

 

    13

     

    

 

CERTIFICATE
OF SIGNATORY

 

(To
be completed if Shares are

Being
subscribed for by an entity)

 

I,_
_ _ _ _ _ am the Principal of_ _ _ _ _ _ _ (the “Entity”).

 

I
certify that I am empowered and duly authorized by the Entity to execute and carry out the terms of the Subscription Agreement
and to purchase and hold the Shares and certify further that the Subscription Agreement has been duly and validly executed on behalf
of the Entity and constitutes a legal and binding obligation of the Entity.

 

IN
WITNESS WHEREOF, I have set my hand this _ _ _ _ _ 2020

 

	 	 
	 	(Signature)

 

    14

     

    

 

EXHIBIT A-1 - ACCREDITED
INVESTOR PAGE FOR U.S. SUBSCRIBERS ONLY

 

The
undersigned Subscriber is an “accredited investor” as that term is defined in Regulation D promulgated under the Securities
Act by virtue of being (initial all applicable responses):

 

		______A small business investment company licensed by the U.S. Small Business Administration under the Small Business Investment Company Act of 1958,
		______A business development company as defined in the Investment Company Act of 1940,
		______A national or state-chartered commercial bank, whether acting in an  individual or fiduciary capacity,
		____An insurance company as defined in Section 2(13) of the Securities Act,
		____An investment company registered under the Investment Company Act of 1940,
		_____An employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, where the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, insurance company, or registered investment advisor, or an employee benefit plan which has total assets in excess of $5,000,000,
		_____A private business development company as defined in Section 202(a)(22) of the Investment Advisors Act of 1940,
		_____An organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation or a partnership with total assets in excess of $5,000,000,
		_____A natural person whose individual net worth or joint net worth with that person’s spouse, at the time of purchase exceeds $1,000,000.  For purposes of this Exhibit A-1, “net worth” means the excess of total assets at fair market value over total liabilities. For purposes of calculating net worth under this section, (i) the primary residence shall not be included as an asset, (ii) to the extent that the indebtedness that is secured by the primary residence is in excess of the fair market value of the primary residence, the excess amount shall be included as a liability, and (iii) if the amount of outstanding indebtedness that is secured by the primary residence exceeds the amount outstanding 60 days prior to the execution of this questionnaire, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability.
		_____Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in Section 506(b)(2)(ii) of Regulation D,
		
        _____
A natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with
that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same
income level in the current year. For purposes of this Exhibit A-1, “income” means annual adjusted gross income, as
reported for federal income tax purposes, plus (i) the amount of any tax-exempt interest income received; (ii) the amount of losses
claimed as a limited partner in a limited partnership; (iii) any deduction claimed for depletion; (iv) amounts contributed to
an IRA or Keogh retirement plan; (v) alimony paid; and (vi) any amount by which income from long-term capital gains has been reduced
in arriving at adjusted gross income pursuant to the provisions of Section 1202 of the Internal Revenue Code of 1986, as amended.

		_____A corporation, partnership, trust or other legal entity (as opposed to a natural person) and all of such entity’s equity owner’s fall into one or more of the categories enumerated above. (Note: additional documentation may be requested).

 

	 	 	 
	Name of Subscriber (Print)	 	Name of Joint Subscriber (if any) (Print)
	 	 	 
	 	 	 
	Signature of Subscriber	 	Signature of Joint Subscriber (if any)
	 	 	 
	 	 	 
	Capacity of Signatory (for entities)	 	Date

 

    15

     

    

 

EXHIBIT A-2 - REGULATION
S PAGE FOR NON-U.S. SUBSCRIBERS

 

The
undersigned Subscriber (a “Reg S Person”) is not a U.S. Person as defined in Section 902 of Regulation S promulgated
under the Securities Act, and hereby represents that the representations in paragraphs (1) through (9) are true and correct with
respect to such Reg S Person. 

 

(1)
Such Reg S Person acknowledges and warrants that (i) the issuance and sale to such Reg S Person of the Shares is intended to
be exempt from the registration requirements of the Securities Act, pursuant to the provisions of Regulation S; (ii) it is
not a “U.S. Person,” as such term is defined in Regulation S and herein, and is not acquiring the Sharess for the
account or benefit of any U.S. Person; and (iii) the offer and sale of the Sharess has not taken place, and is not taking
place, within the United States of America or its territories or possessions. Such Reg S Person acknowledges that the offer
and sale of the Shares has taken place, and is taking place in an “offshore transaction,” as such term is defined
in Regulation S.

 

(2)
Such Reg S Person acknowledges and agrees that, pursuant to the provisions of Regulation S, the Shares cannot be sold,
assigned, transferred, conveyed, pledged or otherwise disposed of to any U.S. Person or within the United States of America
or its territories or possessions for a period of six months from and after the Closing Date, unless such Shares are
registered for sale in the United States pursuant to an effective registration statement under the Securities Act or another
exemption from such registration is available. Such Reg S Person acknowledges that it has not engaged in any hedging
transactions with regard to the Shares.

 

(3)
Such Reg S Person consents to the placement of a legend on any certificate, note or other document evidencing the Shares and
understands that the Company shall be required to refuse to register any transfer of Shares not made in accordance with
applicable U.S. securities laws. 

 

(4)
Such Reg S Person is not a “distributor” of securities, as that term is defined in Regulation S, nor a dealer in
securities. Such Reg S Person is purchasing the Shares as principal for its own account, for investment purposes only and not
with an intent or view towards further sale or distribution (as such term is used in Section 2(a)(11) of the Securities Act)
thereof, and has not pre-arranged any sale with any other purchaser and has no plans to enter into any such agreement or
arrangement.

 

(5)
Such Reg S Person is not an Affiliate of the Company nor is any Affiliate of such Reg S Person an Affiliate of the Company.
An “Affiliate” is an individual or corporation, partnership, trust, incorporated or unincorporated association,
joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other
entity of any kind (each of the foregoing, a “Person”) that, directly or indirectly through one or more
intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in and construed
under Rule 405 under the Securities Act. With respect to a Reg S Person, any investment fund or managed account that is
managed on a discretionary basis by the same investment manager as such Reg S Person will be deemed to be an Affiliate of
such Reg S Person.

 

(6)
Such Reg S Person understands that the Shares have not been registered under the Securities Act or the securities laws of any
state and are subject to substantial restrictions on resale or transfer. The Shares are “restricted securities”
within the meaning of Regulation S and Rule 144, promulgated under the Securities Act.

 

    16

     

    

 

(7)
Such Reg S Person acknowledges that the Shares may only be sold offshore in compliance with Regulation S or pursuant to an
effective registration statement under the Securities Act or another exemption from such registration, if available. In
connection with any resale of the Shares pursuant to Regulation S, the Company will not register a transfer not made in
accordance with Regulation S, pursuant to an effective registration statement under the Securities Act or in accordance with
another exemption from the Securities Act.

 

(8)
Such Reg S Person represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in
connection with the offering of the Shares, including: (a) the legal requirements within its jurisdiction for the purchase of
the Shares; (b) any foreign exchange restrictions applicable to such purchase; (c) any governmental or other consents that
may need to be obtained; and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase,
holding, redemption, sale or transfer of the Shares. Such Reg S person’s subscription and payment for, and its
continued beneficial ownership of the Shares, will not violate any applicable securities or other laws of the jurisdiction of
its residence.

 

(9)
Such Reg S Person makes the representations, declarations and warranties as contained in this Exhibit A-2 with the intent
that the same shall be relied upon by the Company in determining its suitability as a purchaser of such Shares.

 

	 	 	 
	Name of Subscriber (Print)	 	Name of Joint Subscriber (if any) (Print) 
	 	 	 
	 	 	 
	Signature of Subscriber	 	Signature of Joint Subscriber (if any)
	 	 	 
	 	 	 
	Principal Capacity of Signatory (for entities)	 	Date:

 

    17

     

    

 

EXHIBIT B - WIRE
INSTRUCTIONS

 

Wire to the account
of:

 

Name: Quantum Computing
Inc.

 

Address:  

 

Account Number:

 

Bank Wire Number:

 

Bank Name:

 

Bank Address:

 

 

18EX-10.1

 Exhibit 10.1 
  

 
  
  

December 3, 2020 
 Robert Normile 

c/o Mattel, Inc. 
 333 Continental Boulevard 

El Segundo, CA 90245 
 Dear Bob, 

This letter (“Letter Agreement”) memorializes our discussions with respect to your separation of employment (the
“Separation”) from Mattel, Inc. (the “Company”) effective as of such date in April 2021 as shall be determined by the Company (such date, the “Termination Date”) and your employment with the Company
through the Termination Date. This Letter Agreement also serves as a “Notice of Termination” pursuant to Section 15 of the Mattel, Inc. Executive Severance Plan (as amended, the “Severance Plan”); and, you
specifically acknowledge and agree that the requirement in Section 2(f) of the Severance Plan that the Termination Date be no more than fifteen (15) days after the actual receipt of the Notice of Termination is hereby waived. 

Service through the Termination Date. You will remain in your role as the Company’s Executive Vice President, Chief Legal Officer
and Secretary, reporting to the Chief Executive Officer of the Company through December 31, 2020. Thereafter, you will cease to serve as the Company’s Executive Vice President, Chief Legal Officer and Secretary and as an executive officer
of the Company, and, effective as of January 1, 2021, you will be employed on a full-time basis in the position of Executive Advisor through the Termination Date (the period commencing on January 1, 2021 through the Termination Date, the
“Transition Period”). Effective as of the Termination Date, your employment as Executive Advisor and as an employee of the Company and its affiliates shall terminate. In your capacity as Executive Advisor, you will report to the
Company’s Chief Executive Officer, and will assist and cooperate with the Company with respect to the transition of the position of Chief Legal Officer of the Company. During the Transition Period, the Company shall continue to pay you a base
salary in the amount of $600,000 per annum, payable in accordance with the Company’s normal payroll practices, and you will continue at your current participation level in the Mattel Incentive Plan for purposes of the amount payable to you
under Section 3(b)(iv) of the Severance Plan. You hereby acknowledge and agree that neither your change in position (including ceasing to serve as Executive Vice President, Chief Legal Officer and Secretary of the Company) nor the appointment
or hiring of a new Chief Legal Officer of the Company constitutes a termination of your employment for, or an event giving rise to, “good reason” for purposes of the Severance Plan or any other plan or arrangement between you and the
Company. You and the Company further acknowledge and agree that: (i) the Severance Plan and the participation letter, dated June 30, 2009, between you and the Company relating to the Severance Plan (the “Participation
Letter”) will remain in full effect through your Termination Date; (ii) nothing in this Letter Agreement alters or changes the at-will employment relationship that exists between you and the
Company; and (iii) the length of the Transition Period is subject to change as determined by the Company. 
 Resignation from All
Positions. You agree to tender your resignation from any and all positions you occupy as an officer of the Company or of any direct or indirect subsidiary of the Company no later than December 31, 2020 by signing the resignation letter in
the form of Exhibit A to this Letter Agreement and returning it to me. 

 Severance Payments and Benefits under the Severance Plan and Retirement Benefits under
the SERP. Provided that, during the Transition Period, you continue to perform your job duties in good faith and within the expectations of the position, and you remain in good standing through the Termination Date, your Separation as of the
Termination Date will constitute (i) a “Covered Termination” for purposes of the Severance Plan, (ii) an “Involuntary Termination” for purposes of the Mattel, Inc. 2005 Supplemental Executive Retirement Plan (the
“SERP”), and (iii) an “Involuntary Retirement” for purposes of the Mattel, Inc. Amended and Restated 2010 Equity and Long-Term Compensation Plan. Accordingly, in connection with the Separation, you will be entitled to
the severance payments and benefits set forth in Section 3(b) of the Severance Plan (the “Severance Benefits”) and the retirement benefits set forth in Section 5.2 of the SERP (the “Retirement Benefits”),
provided that (i) if your employment is terminated for any reason other than a Covered Termination prior to the Termination Date (e.g., if you resign without good reason prior to the end of the Transition Period or if your employment is
terminated by the Company for Cause (as defined in the Severance Plan)), you will not be eligible to receive the Severance Benefits under the Severance Plan; and (ii) if your employment is terminated by the Company for Cause (as defined in the
SERP) prior to the Termination Date, you will not be eligible to receive the Retirement Benefits under the SERP. You acknowledge and agree that your right to receive the Severance Benefits is subject to all of the terms and conditions of the
Severance Plan, the Participation Letter and the Mattel, Inc. Compensation Recovery Policy (the “Compensation Recovery Policy”), including the release requirement in the Participation Letter and your obligations under Section 7
of the Severance Plan, and your right to receive the Retirement Benefits under the SERP is subject to all of the terms and conditions of the SERP and the Compensation Recovery Policy, including the forfeiture and recapture provisions set forth in
Section 5.6 of the SERP. You further acknowledge and agree that the Severance Plan, your Participation Letter, the SERP and the Compensation Recovery Policy remain in full effect and that this Letter Agreement shall not interfere with or
restrict the right of the Company to discharge you for Cause (as defined in the Severance Plan and/or the SERP, as applicable). The Termination Date shall be the “Date of Termination” for purposes of the Severance Plan and the
“Determination Date” for purposes of the SERP. 
 Cooperation. Following the Termination Date, you agree to cooperate fully
with the Company and its subsidiaries and affiliates in the investigation, defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company or its subsidiaries or affiliates
which relate to events or occurrences that transpired while you were employed by the Company. Such cooperation shall include, but not be limited to, being available to meet and speak with officers or employees of the Company and/or its counsel at
times and locations reasonably acceptable to you and the Company; executing accurate and truthful documents, appearing at the Company’s request as a witness at depositions, trials or other proceedings without the necessity of a subpoena, with
reasonable advance notice; testifying truthfully; and taking such other actions as may reasonably be requested by of the Company and/or its counsel to effectuate the foregoing. In requesting such services, the Company will consider other commitments
that you may have at the time of the request. The Company agrees to reimburse you for any reasonable, out-of-pocket travel, hotel and meal expenses incurred in
connection with your obligation to cooperate with the Company for which you have obtained prior written approval from the Company, and the Company shall pay you $500.00 per hour for any services performed by you at the request of the Company
pursuant to this paragraph. 
 Full Agreement. This Letter Agreement, the Severance Plan, the Participation Letter, the SERP, the
Release (as defined in the Participation Letter), the Compensation Recovery Policy and the Employee Confidentiality and Inventions Agreement, dated on or about January 26, 2016, by and between you and the Company (collectively, the
“Agreements”) constitute the full understanding of you and the Company with respect to the Separation. Without limiting the generality of the foregoing, you expressly acknowledge and agree that except as specifically set forth in
the Agreements, you are not entitled to receive any severance pay or benefits from the Company and its affiliates. 

 Governing Law. This Letter Agreement shall be governed by and construed in accordance
with the laws of the State of California, without reference to principles of conflict of laws. The claims procedures and dispute resolution provisions of the Severance Plan and/or the SERP, as applicable, shall apply to this Letter Agreement. 

Miscellaneous. This Letter Agreement may be amended, modified or changed only by a written instrument executed by you and the Company.
The captions of this Letter Agreement are not part of the provisions hereof and shall have no force or effect. This Letter Agreement may be executed in counterparts, each of which shall be deemed to be an original and all of which together shall
constitute one and the same instrument. 
 You have been and remain a valuable part of the business. We are counting on your help through this transition.
Please feel free to reach out to Amy Thompson with any questions. 
  

			
	Sincerely,
	
	Mattel, Inc.
		
	By:	 	 /s/ Ynon Kreiz

		 	Ynon Kreiz
		 	Chief Executive Officer

  

	
	Acknowledged and Agreed:
	
	 /s/ Robert Normile

	Robert Normile

 Exhibit A 

Date:
                                         
        
 Mattel, Inc. 

333 Continental Boulevard 
 El Segundo, California 90245 

 

	 	Re:	 Resignation from director and/or officer positions with Mattel and its subsidiaries

 Ladies and Gentlemen: 
 I hereby resign
from any position I occupy as an officer of Mattel, Inc. and/or as a director or officer of any direct or indirect subsidiary of Mattel, Inc., effective as of December 31, 2020. 

Very truly yours, 
 Signature:
                                         
                    
 Name: Robert Normile

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