Document:

EX-4.5

 Exhibit 4.5 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY
THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.
UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 COMCAST CORPORATION 

[    ]% Senior Notes Due 20[    ] 

 

			
	 No. [    ]
	  	CUSIP No.: [            ]
	 	  	ISIN No.: [            ]
	 	  	$[            ]

 COMCAST CORPORATION, a Pennsylvania corporation (the “Issuer”, which term includes any
successor corporation), for value received promises to pay to CEDE & CO. or registered assigns, the principal sum of $[            ]
([            ] Dollars) on [            ]. 

Interest Payment Dates: [            ] and
[            ] (each, an “Interest Payment Date”), commencing on [            ]. 

Interest Record Dates: [            ] and
[            ] (each, an “Interest Record Date”). 
 Reference
is made to the further provisions of this Security contained herein, which will for all purposes have the same effect as if set forth at this place. 

 IN WITNESS WHEREOF, the Issuer has caused this Security to be signed manually or by
facsimile by its duly authorized officer under its corporate seal. 
  

			
	COMCAST CORPORATION
		
	By:	 	
                     

		 	Name:
		 	Title:

 [Seal of Comcast Corporation] 
  

			
	Attest:
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the series designated herein and referred to in the within-mentioned
Indenture. 
 Dated: [            ] 

 

			
	THE BANK OF NEW YORK MELLON,
	    as Trustee
		
	By:	 	  

		 	  Authorized Signatory

 (REVERSE OF SECURITY) 

COMCAST CORPORATION 

[    ]% Senior Notes Due [    ] 

 

	 	1.	 Interest. 

COMCAST CORPORATION, a Pennsylvania corporation (the “Issuer”), promises to pay interest on the principal amount of this
Security at the rate per annum shown above. Cash interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from
[            ]. The Issuer will pay interest semi-annually in arrears on each Interest Payment Date, commencing [            ].
Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

The Issuer shall pay interest on overdue principal from time to time on demand at the rate borne by the Securities and on overdue installments
of interest (without regard to any applicable grace periods) to the extent lawful. 
  

	 	2.	 Method of Payment. 

The Issuer shall pay interest on the Securities (except defaulted interest) to the persons who are the registered Holders at the close of
business on the Interest Record Date immediately preceding the Interest Payment Date notwithstanding any transfer or exchange of such Security subsequent to such Interest Record Date and prior to such Interest Payment Date. Holders must surrender
Securities to The Bank of New York Mellon (the “Trustee”) to collect principal payments. The Issuer shall pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and
private debts (“U.S. Legal Tender”). However, the payments of interest, and any portion of the principal (other than interest payable at maturity or on any redemption or repayment date or the final payment of principal) shall be
made by the Paying Agent, upon receipt from the Issuer of immediately available funds by 11:00 a.m., New York City time (or such other time as may be agreed to between the Issuer and the Paying Agent or the Issuer), directly to a Holder (by Federal
funds wire transfer or otherwise) if the Holder has delivered written instructions to the Trustee 15 days prior to such payment date requesting that such payment will be so made and designating the bank account to which such payments shall be so
made and in the case of payments of principal surrenders the same to the Trustee in exchange for a Security or Securities aggregating the same principal amount as the unredeemed principal amount of the Securities surrendered. 

  
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	 	3.	 Paying Agent. 

Initially, the Trustee will act as Paying Agent. The Issuer may change any Paying Agent without notice to the Holders. 

 

	 	4.	 Indenture. 

The Issuer issued the Securities under an Indenture dated as of September 18, 2013, by and among the Issuer, the guarantors named therein
and the Trustee, as amended by the First Supplemental Indenture dated as of November 17, 2015, by and among the Issuer, the guarantors named therein (the “Guarantors”) and the Trustee (as amended, the
“Indenture”). Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the
Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the “TIA”), as is in effect on the date of the Indenture until such time as the Indenture is qualified under the TIA, and thereafter as in effect on the date on which
the Indenture is qualified under the TIA. Notwithstanding anything to the contrary herein, the Securities are subject to all such terms, and Holders of Securities are referred to the Indenture and the TIA for a statement of them. To the extent the
terms of the Indenture and this Security are inconsistent, the terms of the Indenture shall govern. This note is a “Security” and the notes are “Securities” under the Indenture. 

 

	 	5.	 Guarantees. 

Each Guarantor has irrevocably, fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, the full and punctual
payment (whether at maturity, upon redemption or otherwise) of the principal of and interest on, and all other amounts payable under, the Securities, and the full and punctual payment of all other amounts payable by the Issuer under the Indenture,
subject to certain terms and conditions set forth in the Indenture. 
  

	 	6.	 Denominations; Transfer; Exchange. 

The Securities are in registered form, without coupons, in denominations of
$[            ] and multiples of $[            ] in excess thereof. A Holder shall register the transfer of or exchange
Securities in accordance with the Indenture. 
 The Issuer may require a Holder, among other things, to furnish appropriate endorsements and
transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any Securities or
portions thereof for a period of fifteen (15) days before the mailing of a notice of redemption, nor need the Issuer register the transfer of or exchange any security selected for redemption in whole or in part. 

  
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	 	7.	 Persons Deemed Owners. 

The registered Holder of a Security shall be treated as the owner of it for all purposes. 

 

	 	8.	 Unclaimed Funds. 

If funds for the payment of principal or interest remain unclaimed for two years, the Trustee and the Paying Agent will repay the funds to the
Issuer at its written request. After that, all liability of the Trustee and such Paying Agent with respect to such funds shall cease. 
  

	 	9.	 Legal Defeasance and Covenant Defeasance. 

The Issuer and the Guarantors may be discharged from their respective obligations under the Securities and under the Indenture with respect to
the Securities except for certain provisions thereof, and may be discharged from obligations to comply with certain covenants contained in the Securities and in the Indenture with respect to the Securities, in each case upon satisfaction of certain
conditions specified in the Indenture. 
  

	 	10.	 Amendment; Supplement; Waiver. 

Subject to certain exceptions, the Securities and the provisions of the Indenture relating to the Securities may be amended or supplemented
with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding, and any existing Default or Event of Default or compliance with certain provisions may be waived with the consent of the
Holders of a majority in aggregate principal amount of the Securities then outstanding. Without notice to or consent of any Holder, the parties thereto may amend or supplement the Indenture and the Securities to, among other things, cure any
ambiguity, defect or inconsistency, provide for uncertificated Securities in addition to or in place of certificated Securities or comply with any requirements of the Commission in connection with the qualification of the Indenture under the TIA, or
make any other change that does not adversely affect the rights of any Holder of a Security. 

  
 R-3 

	 	11.	 Restrictive Covenants. 

The Indenture contains certain covenants that, among other things, limit the ability of the Issuer and the Guarantors to incur liens securing
indebtedness, or to enter into sale and leaseback transactions, and of the Issuer to merge or sell all or substantially all of its assets. The limitations are subject to a number of important qualifications and exceptions. The Issuer must annually
report to the Trustee on compliance with such limitations. 
  

	 	12.	 Redemption. 

Prior to [●], 20[●] ([●] ([●]) month[s] prior to the maturity date of the Securities) (the “Par Call
Date”), the Issuer may redeem Securities at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the
greater of: 
 (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the
redemption date (assuming, for this purpose, that the Securities matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus [●] basis points, less (b) interest
accrued to the date of redemption, and 
 (2) 100% of the principal amount of the Securities to be redeemed, 

plus, in either case, accrued and unpaid interest thereon to the redemption date. 

On or after the Par Call Date, the Issuer may redeem the Securities, in whole or in part, at any time and from time to time, at a redemption
price equal to 100% of the principal amount of the Securities being redeemed plus accrued and unpaid interest thereon to the redemption date. 

“Treasury Rate” means, with respect to any redemption date, the yield determined by the Issuer in accordance with the
following two paragraphs. 
 The Treasury Rate shall be determined by the Issuer after 4:15 p.m., New York City time (or after such time as
yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the redemption date based upon the yield or yields for the most recent day that appear after such
time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) - H.15” (or any successor designation or publication)
(“H.15”) under the caption “U.S. government securities-Treasury constant maturities-Nominal” (or any successor caption or heading) (“H.15 TCM”). In determining the Treasury Rate, the Issuer shall select,
as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the applicable Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury constant
maturity on H.15 exactly equal to the Remaining Life, the two yields - one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately
longer than the Remaining Life - and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant
maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on
H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the redemption date. 

If on the third business day preceding the redemption date H.15 TCM is no longer published, the Issuer shall calculate the Treasury Rate based
on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption date of the United States Treasury security maturing on, or with a maturity that is
closest to, the Par Call Date. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally distant from the applicable Par Call Date, one with
a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Issuer shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there are two or more United
States Treasury securities maturing on the applicable Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Issuer shall select from among these two or more United States Treasury
securities the United States Treasury security that is 

  
 R-4 

 
trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in
accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of the principal amount) at 11:00
a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 
 The Issuer’s actions and
determinations in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error. 
 Notice of any
redemption will be mailed or electronically delivered (or otherwise transmitted in accordance with the Depositary’s procedures) at least 10 days but not more than 60 days before the redemption date to each holder of the Securities to be
redeemed. 
 In the case of a partial redemption, selection of the Securities for redemption will be made in accordance with the procedures
of the Depositary. No Securities of a principal amount of $2,000 or less will be redeemed in part. If the Security is to be redeemed in part only, the notice of redemption will state the portion of the principal amount of the Security to be
redeemed. A new Security in a principal amount equal to the unredeemed portion of the Security will be issued in the name of the holder of such Security upon surrender for cancellation of such original Security. For so long as any Security is
registered in the name of the Depositary, the redemption of any Security shall be done in accordance with the policies and procedures of the Depositary. 

Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the
Securities or portions thereof called for redemption. 
  

	 	13.	 Defaults and Remedies. 

If an Event of Default (other than certain bankruptcy Events of Default with respect to the Issuer or any of the Guarantors) occurs and is
continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of Securities then outstanding may declare all of the Securities to be due and payable immediately in the manner and with the effect provided in the Indenture. If a
bankruptcy Event of Default with respect to the Issuer or any of the Guarantors occurs and is continuing, all the Securities shall be immediately due and payable immediately in the manner and with the effect provided in the Indenture without any
notice or other action on the part of the Trustee or any Holder. Holders of Securities may not enforce the Indenture, the Securities or the Guarantees except as provided in the Indenture. The Trustee is not obligated to enforce the Indenture, the
Securities or the Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein provided, Holders of a majority in aggregate principal amount of the Securities then outstanding to
direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Securities notice of certain continuing Defaults or Events of Default if it determines that withholding notice is in their interest. 

  
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	 	14.	 Trustee Dealings with Issuer. 

The Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal
with the Issuer as if it were not the Trustee. 
  

	 	15.	 No Recourse Against Others. 

No stockholder, director, officer, employee or incorporator, as such, of the Issuer, any Guarantor or any successor Person thereof shall have
any liability for any obligation under the Securities, the Guarantees or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation. Each Holder of a Security by accepting a Security waives and
releases all such liability. The waiver and release are part of the consideration for the issuance of the Securities. 
  

	 	16.	 Authentication. 

This Security shall not be valid until the Trustee manually signs the certificate of authentication on this Security. 

 

	 	17.	 Abbreviations and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
  

	 	18.	 CUSIP Numbers. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers
to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such numbers as printed on the Securities and reliance may be placed only on the other identification numbers printed
hereon. 
  

	 	19.	 Governing Law. 

The laws of the State of New York shall govern the Indenture and this Security issued thereunder. 

  
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 ASSIGNMENT FORM 

I or we assign and transfer this Security to 
  

			
	      

	 (Print or type name, address and zip code of assignee or
transferee)

	
	      

	 (Insert Social Security or other identifying number of
assignee or transferee)

	
	and irrevocably
appoint                                        
                                         
                                     agent to transfer this
Security on the books of the Issuer. The agent may substitute another to act for him.

											
				
	 Dated:
	 		 	Signed:	 	  

		 		 		 	 (Signed exactly as name appears
 on
the other side of this Security)

									
			
	Signature Guarantee:	 		 	  

		 		 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The initial principal amount of this Global Security is $[            ]. The
following increases or decreases in this Global Security have been made: 
  

									
	 Date of Exchange or Transfer
	  	Amount of
decrease in
Principal amount
of this Global
Security	  	Amount of
increase in
Principal amount
of this Global
Security	  	Principal amount
of this Global
Security
following such
decrease or
increase	  	Signature of
authorized officer
of Trustee or
CustodianDocument

EXHIBIT 10.1

CONFIDENTIAL
SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS
This Confidential Separation Agreement and General Release of Claims (“Agreement”) is entered into by and between Scott Olrich (“Employee” or “You”) and DocuSign, Inc., a Delaware corporation (“DocuSign” or the “Company”), each individually referred to as a “Party” and collectively referred to as the “Parties.” This Agreement will become effective on the eighth (8th) day after its execution by the Parties, provided that Employee has not revoked it as provided in Section 11(vi) below (the “Effective Date”).
RECITALS
WHEREAS, Employee is currently the Chief Operating Officer of the Company;
WHEREAS, Employee is a party to that certain Executive Severance and Change in Control Agreement with the Company effective as of March 12, 2021 (the “Severance and CIC Agreement”) and certain PSU Award Agreements (as defined below), which provide for certain benefits in the event of a qualifying termination; 
WHEREAS, Employee and the Company wish to provide for the orderly transition of Employee’s responsibilities in connection with Employee’s separation from employment;
WHEREAS, in connection with such separation of Employment, and to avoid the costs and potential inconveniences of any dispute, the Parties desire to settle all claims and issues, including any and all disputes which may exist between Employee and the Company;
WHEREAS, the Company is willing to extend to Employee, and Employee is willing to accept, certain benefits in exchange for a release of claims, covenant not to sue and certain other undertakings, all on the terms and subject to the conditions set forth herein;
THEREFORE, in consideration of the promises and covenants set forth in this Agreement, and for good and valuable consideration, the sufficiency of which is hereby acknowledged by both Parties, the Parties agree as follows:
1.Separation Date. Employee’s last day as an Employee of the Company was June 20, 2022 (the “Separation Date”).  As of the Separation Date, Employee hereby resigns as the Chief Operating Officer.
2.Consideration. In consideration for Employee executing and not revoking this Agreement and the undertakings described herein, including the release of claims set forth in Section 7 and Section 11 of this Agreement (together, the “Release”), DocuSign shall provide the following benefits:
A.Cash Severance.
i.Salary. DocuSign will pay Employee the gross amount of $216,667 (the “Cash Severance”), which represents 6 months of Employee’s base salary.
ii.Target Bonus. In addition, DocuSign will pay Employee the gross amount of $130,000 (the “Bonus Severance”).
iii.Payment Terms. DocuSign will pay the Cash Severance and Bonus Severance to Employee in a lump sum, less applicable payroll deductions and withholdings, within 10 business days following the Effective Date.
B.COBRA. For purposes of this Agreement, “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. If Employee timely elects continued coverage under COBRA, DocuSign will pay the COBRA premiums to continue and 

maintain health care coverage for Executive and any dependents who are covered at the time of the Separation Date under the Company’s group health plan (the “COBRA Benefit”), until the earliest of (a) six (6) months following the Separation Date; (b) the date when the Employee and Employee’s eligible dependents become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment; or (c) the date Employee ceases to be eligible for COBRA continuation coverage for any reason. Notwithstanding the foregoing, if DocuSign determines in its sole discretion that it cannot provide the foregoing COBRA Benefit without potentially incurring financial costs or violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), DocuSign shall in lieu thereof provide Employee a taxable cash payment in an amount equal to the monthly COBRA premium that the Company would be required to pay to continue Employee’s group health coverage in effect on the Separation Date (which amount shall be based on the premium for the first month of COBRA coverage), which payments will be paid in monthly installments on the same schedule and over the same time period that the COBRA Benefit would otherwise have been paid on behalf of Employee regardless of whether Employee elects COBRA continuation coverage and shall end on the earlier of (x) the date when the Employee and Employee’s eligible dependents become covered by health care coverage from another source, unless otherwise prohibited by applicable law or (y) the last day of the six (6th) calendar month following the Separation Date.  Employee shall have no right to an additional gross‐up payment to account for the fact that such COBRA premium amounts are paid on an after‐tax basis. Employee must notify the Company within two (2) weeks if Employee obtains health care coverage from a new source. 
C.RSU Acceleration. On the Effective Date, Employee’s time-based Restricted Stock Units (“RSUs”) awarded to Employee under the Company’s 2018 Equity Incentive Plan (the “2018 Plan”), which, for the avoidance of doubt, exclude the PSUs (as defined below) will vest as to that number of shares subject thereto that would have been vested had Employee remained in Continuous Service (as defined in the applicable award agreement(s) applicable to the RSUs (each, an “RSU Award Agreement”) through the date six (6) months following the Separation Date (i.e., until and through December 20, 2022). The number of shares subject to Employee’s RSUs and the number of shares eligible to accelerate and vest pursuant to the preceding sentence for each outstanding RSU have been communicated to Employee.  The shares that vest pursuant to this paragraph shall be issued and delivered to Employee promptly, and in any event no later than 30 business days, following the Effective Date, and such shares are subject to applicable tax withholding. 
D.PSU Vesting. Employee’s performance-based Restricted Stock Units awarded to Employee under the 2018 Plan (“PSUs”) shall vest according to Section F of the applicable PSU Award Agreements such that Employee will be entitled to receive the number of shares that would have vested under the PSUs if Employee had been subject to a Qualifying Termination in accordance with the award agreement(s) applicable to the PSUs (each, a “PSU Award Agreement”), with the result that Employee will be eligible for pro rata vesting of the PSUs based on his length of service (measured from the beginning of the Performance Period through the Separation Date) during the applicable Performance Period (such pro rata reduction is referred to as the “Pro-Rata Reduction” in the applicable PSU Award Agreements) and the Company’s actual achievement of the Performance Goals (such number of resulting shares are referred to as the Default Number of PSUs in the applicable PSU Award Agreements).1 The level of achievement of the applicable Performance Goals, the resulting final number of shares (such number of shares are referred to as the “Default Number of PSUs” in the applicable PSU Award Agreements), and the pro rata portion of the Default Number of PSUs that will be 

1 By way of example and not limitation, if the Separation Date occurred on day 976 of a 1096-day Performance Period for a PSU Award, and the final number of shares earned under such PSU based on achievement of the applicable Performance Goals was 100, then Employee would be entitled to receive (976/1096)*100 = 89 shares of stock.
2

delivered will be determined by the Compensation Committee during the 60-day period following the expiration of the applicable Performance Period, and will be settled and delivered in accordance with the applicable PSU Award Agreement. The terms “Performance Period,” “Performance Goals” and “Qualifying Termination” shall have the meanings assigned to such terms in the applicable PSU Award Agreement. In the event of any conflict between this Section 2.D and a PSU Award Agreement, the PSU Award Agreement controls, as applicable.  The number of shares subject to Employee’s PSUs, the maximum number of shares issuable under each PSU and Employee’s pro rata portion of each applicable Performance Period have been communicated to Employee.
E.Change in Control Prior to September 20, 2022. Notwithstanding anything to the contrary in paragraphs A-D above, in the event that the Company is subject to a Change in Control (as defined in the Severance and CIC Agreement) that closes on or before September 20, 2022, then DocuSign shall provide Employee the following benefits, subject to Employee’s continued compliance with the terms of this Agreement and Employee’s execution and delivery of a release of claims and covenant not to sue in substantially the form set forth in Sections 7 and 8 below (the “Second Release”):
iv.Increased Cash Severance.  The Cash Severance payable under Section 2(A)(i) above shall be increased to the gross amount of $433,333, which represents twelve (12) months of Employee’s base salary.
v.Increased COBRA Benefit.  The COBRA Benefit under Section 2(B) above shall be increased to twelve (12) months.
vi.RSU Vesting. Any remaining unvested time-based RSUs shall accelerate and vest, and shall be issued and delivered to Employee promptly (and in any event no later than 10 business days) following the effective date of the Second Release, and such shares are subject to applicable tax withholding.
vii.PSU Vesting. Employee’s PSUs shall vest according to Section F of the applicable PSU Award Agreements such that Employee shall be entitled to receive the Change in Control Determined Units (as defined in the applicable PSU Award Agreements) in lieu of the Default Number of PSUs, with such Change in Control Determined Units subject to the Pro-Rata Reduction.  In the event of any conflict between this Section 2.E(ii) and a PSU Award Agreement, the PSU Award Agreement controls, as applicable.
F.Change in Control After September 20, 2022. Notwithstanding anything to the contrary in paragraphs A-E above, in the event that the Company is subject to a Change in Control (as defined in the Severance and CIC Agreement) that closes after September 20, 2022 and before the expiration of the Performance Period of one or more PSUs (as applicable, PSUs with an unexpired Performance Period, the “Ongoing PSUs”), such Ongoing PSUs shall vest as set forth in Section E(ii) above, which corresponds to the Section F(2) of the applicable PSU Award Agreements.
In order to accommodate potential vesting acceleration pursuant to paragraphs C-F:
i.Employee’s outstanding and unvested time-based RSUs shall remain outstanding until December 21, 2022, on which date any shares subject to the RSUs that do not accelerate and vest pursuant to paragraphs C or E above shall be cancelled for no consideration;
ii.Employee’s outstanding and unvested PSUs shall remain outstanding until the applicable Determination Date (as defined in the PSU Award Agreements), or if earlier, immediately prior to a Change in Control, in accordance with the terms of the applicable PSU Award Agreements, on which date any shares subject to the 
3

PSUs that do not vest pursuant to paragraphs D, E or F above shall be cancelled for no consideration.
The benefits outlined above are not otherwise owed to Employee, and are provided solely as consideration for the Release and the promises and covenants made by Employee herein. Company is not responsible for Employee’s costs and attorneys’ fees incurred in connection with reviewing this Agreement. Employee acknowledges that, without limiting Section 15, DocuSign does not owe him, or anyone on his behalf, nor shall he become eligible for, any other compensation or benefits from DocuSign, other than the foregoing.
3.Stock Options.  Employee’s outstanding stock option granted April 17, 2017 (the “Option”) is currently fully vested.  Employee holds no other stock options.  The Option will continue to be governed by the applicable equity incentive plan and written award agreement governing the grant, including with respect to the applicable post-termination exercise period.  After the expiration of such post-termination exercise period, any unexercised portion of the Option shall terminate.
4.Termination without Cause. The Parties agree that Employee’s termination of service constitutes termination by the Company without “Cause” for all purposes under the Severance and CIC Agreement and the PSU Award Agreements.
5.Tax Responsibility. Employee acknowledges and agrees that DocuSign has not made any representations to him regarding the tax consequences of any amounts received pursuant to this Agreement. The Parties agree that in the event any taxing authority determines that any settlement monies tendered as part of this Agreement are taxable: (a) Employee shall be solely responsible for the payment of all such taxes and penalties assessed against him; and (b) DocuSign has no duty to defend Employee against any such tax claim, penalty or assessment. Employee further agrees to indemnify DocuSign in the event any taxing authority seeks payment from DocuSign of any taxes, interest, penalties or assessments owed by Employee, and for any penalties owed by DocuSign, and to hold DocuSign harmless to the fullest extent allowed by law.
6.Non-Admission of Liability. Employee acknowledges and agrees in good faith that this Agreement is the result of a compromise and shall not be considered an admission of liability or responsibility by DocuSign.
7.Employee’s Release of Claims against DocuSign. In consideration of the covenants, payments and other benefits set forth herein, Employee unconditionally, irrevocably and absolutely releases and discharges DocuSign and all of its parent corporations, subsidiary corporations, affiliate corporations, and its and their directors, officers and employees, and each of their successors and assigns (hereinafter referred to collectively as the “Released Parties”) from any and all known and unknown losses, liabilities, claims, demands, causes of action or suits of any type, whether in law or in equity, related directly or indirectly, or in any way connected with any transaction, affairs, or occurrences between them (collectively, the “Released Claims”), including, without limitation, Employee’s employment with DocuSign, his application for employment with DocuSign and any associated background check process, any rights or benefits that would otherwise apply under the Severance and CIC Agreement, Employee’s offer letter with the Company dated March 31, 2017 or otherwise, and/or his resignation from said employment, in each case through the date hereof.
A.The Released Claims specifically include, without limitation, any and all contract or tort claims, claims for wrongful termination, retaliation, employment discrimination, emotional distress, fraud, misrepresentation, defamation, invasion of privacy, interference with prospective economic advantage, breach of contract, misrepresentation, promissory estoppel or reliance, exemption misclassification, failure to pay wages due or other monies owed, including, without limitation, severance, overtime compensation, accrued and unused vacation; claims for penalties, interest, attorneys’ fees and costs, including but not limited to penalties recoverable under the Private Attorneys General Act; and claims arising under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Equal Pay Act, the Fair Labor Standards Act, the Family and Medical Leave Act, the Age Discrimination in Employment Act of 1967, as amended 
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(“ADEA”); the Older Workers’ Benefit Protection Act of 1990, as amended, the California Family Rights Act, the California Fair Employment and Housing Act, the Occupational Safety and Health Act, the California Labor Code, including but not limited to the Private Attorneys General Act, any applicable California Industrial Wage Orders, all as amended, and any other local, state or federal law, rule, or regulation relating to or affecting Employee’s employment by DocuSign. The Released Claims do not include any rights or benefits that may not be waived pursuant to applicable law including, without limitation, any right to indemnification pursuant to California Labor Code Section 2800 or Section 2802, or under the indemnification agreement between Employee and the Company, any organizational document of the Company, for directors’ and officers’ insurance coverage, any worker’s compensation claims that Employee may possess or claim that cannot be released as a matter of law, although Employee represents that he is not currently aware of any such claim, or any claim for vested or accrued amounts, benefits or entitlements under any benefit plan, policy or arrangement of the Company or any of its affiliates (excluding the Severance and CIC Agreement, which is superseded by this Agreement as discussed herein). The release contained herein shall not be construed to waive any right to apply for unemployment insurance benefits.
B.Nothing in this Agreement (i) limits or affects Employee’s right to challenge the validity of this Release, including, without limitation, a challenge under the ADEA; (ii) in any way interferes with Employee’s right and responsibility to give truthful testimony under oath; or (iii) precludes Employee from participating in, or receiving an award for information provided to any government agency in connection with, an investigation, filing a charge or otherwise communicating with any federal, state or local government office, official or agency, including, but not limited to, the Equal Employment Opportunity Commission, Department of Labor, National Labor Relations Board, or the Securities and Exchange Commission. However, Employee promises never to seek or accept any compensatory damages, back pay, front pay, or reinstatement remedies for Employee personally with respect to any claims released by this Release.
8.Covenant Not to Sue:
iii.To the fullest extent permitted by law, at no time subsequent to the execution of this Agreement will Employee pursue, or cause or knowingly permit the prosecution of, in any state, federal or foreign court, or before any local, state, federal or foreign administrative agency, or any other tribunal, of any charge, claim or action of any kind, nature and character whatsoever, known or unknown, which Employee may now have, have ever had, or may in the future have against the Released Parties, which is based in whole or in part on any Released Claim.
iv.Nothing in this section shall prohibit or impair Employee or the Company from complying with all applicable laws, nor shall this Agreement be construed to obligate either Party to commit (or aid or abet in the commission of) any unlawful act.
9.Intentionally Omitted.  
10.Unknown Claims. Employee understands and agrees that this Agreement extends to all claims of every nature, known or unknown, suspected or unsuspected, past or present, and that any and all rights Employee may have under Section 1542 of the California Civil Code or any analogous state or federal law or regulation are hereby expressly waived. Section 1542 provides:
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR 
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HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”
Employee certifies that he has read all of this Agreement, including the release provisions contained herein and the provision of Section 1542 quoted above, and he fully understands all of the same.
11.ADEA Release. Employee understands and agrees that he:
i.Is, through this Agreement, releasing the Released Parties from any and all claims Employee may have against them, including any claim arising under the ADEA.
ii.Has carefully read and fully understands all of the provisions of this Agreement.
iii.Knowingly and voluntarily intends to be legally bound by the same.
iv.Was advised and hereby is advised in writing to consider the terms of this Agreement and consult with an attorney of his choice prior to executing this Agreement if desired.
v.Has twenty-one (21) calendar days within which to review and consider this Agreement before signing it.
vi.Has a full seven (7) days following the execution of this Agreement to revoke this Agreement and has been and hereby is advised in writing that this Agreement shall not become effective or enforceable until the revocation period has expired. If Employee intends to revoke this Agreement, such timely revocation must be provided in writing and sent via hand delivery or signed via DocuSign to the attention of the Company’s Chief Legal Officer at jim.shaughnessy@docusign.com.
vii.Understands that any rights or claims under the Age Discrimination in Employment Act of 1967 (29 U.S.C. § 621, et seq.) that may arise after the date this Agreement is executed are not waived.
12.Representations Regarding No Pending Claims. Employee represents he has not filed any lawsuit, claim, or complaint against DocuSign in any state or federal court, or with any administrative agency or tribunal.  DosuSign represents that to the actual knowledge of its current Chief Executive Officer, Chief Financial Officer and Chief Legal Officer, neither DocuSign nor any of them is aware of any claim, loss, damage or cause of action against Employee as of the Effective Date and have not filed any lawsuit, claim, or complaint against Employee in any state or federal court, or with any administrative agency or tribunal.
13.Return of DocuSign Property. Employee hereby warrants to DocuSign that, Employee has returned all DocuSign all property or data of DocuSign of any type whatsoever that has been in his possession or control.  Notwithstanding the foregoing, subject to his obligations under the At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement (the “CIIA”) previously executed by the Employee, Employee may retain possession of the contact names, emails and phone numbers currently saved on his cell phone.
14.At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement. Employee hereby acknowledges that he remains subject to his obligations under the CIIA previously executed by the Employee which requires, among other provisions, the assignment of patent rights to any invention made during Employee’s employment at the Company and non-disclosure of proprietary information. Employee further confirms that Employee will deliver to the Company, no later than the Separation Date, all documents and data of any nature containing or pertaining to such proprietary information and that Employee will not take any such documents or data or any reproduction 
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thereof.  Notwithstanding anything to the contrary in the CIIA, the Company agrees that Employee may discuss future employment or service opportunities with Mimi Ting without violating Section 8 of the CIIA. 
15.Balances Owed. Employee acknowledges and represents that as of the date he signs this Agreement, (a) he has timely submitted expense reports covering all outstanding and reimbursable expenses incurred by him (“Expenses”) and (b) he will have been paid all wages, commissions, compensation, benefits, and other amounts and has been provided all leaves of absence and/or other accommodations that DocuSign has ever owed to him prior to the date he signed this Agreement. Between the date he signs this Agreement and his Separation Date, DocuSign agrees to pay all wages and benefits owed to him at that time. DocuSign will promptly reimburse Employee for all outstanding Expenses in accordance with the Company’s travel and expense policy.
16.Indemnification. For the avoidance of doubt, Employee will continue to be covered by any indemnification under organizational documents and bylaws of the Company, the Indemnity Agreement, dated July 6, 2017, between Employee and the Company and any other indemnification agreement between Employee and the Company, and remain named as an insured on the director and officer liability insurance policy currently maintained by the Company, or as may be maintained by the Company from time to time and as otherwise required by applicable law.
17.Intentionally Omitted.  
18.No Assignment or Transfer of Claims. Employee represents and warrants that he has not assigned or transferred to any other person or entity any rights, claims or causes of action constituting a Released Claim, and no other person or entity has any interest in any such claim, except as disclosed by the terms of this Agreement.
19.Entire Agreement. This Agreement (together with the At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement; the PSU Award Agreements; and the applicable RSU award agreements) constitute the full and entire agreement between the Parties regarding the subject matter of this Agreement, and supersede the Severance and CIC Agreement in all respects.
20.Applicable Law; Severability. The validity, interpretation, and performance of this Agreement shall be construed and interpreted according to the laws of the State of California. If any provision of this Agreement, or part, is held invalid, void or voidable as against public policy or otherwise, the invalidity shall not affect other provisions, or parts, which may be given effect without the invalid provision or part. To this extent, the provisions, and parts thereof, of this Agreement are declared to be severable.
21.Successors and Assigns; Counterparts. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, legal representatives, successors and assigns. This Agreement may be signed in counterparts. An electronic or facsimile signature shall have the same force and effect as an original signature, and trigger the obligations under this Agreement.
22.Taxes.  All payments made under this Agreement will be subject to reduction to reflect taxes or other charges required to be withheld by law. To the extent (i) any payments to which Employee becomes entitled under this Agreement, or any agreement or plan referenced herein, in connection with Employee’s termination of employment with the Company constitute deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) Employee is deemed at the time of such termination of employment to be a “specified” employee under Section 409A of the Code, then such payment or payments shall not be made or commence until the earlier of (i) the expiration of the six (6)‐month period measured from the date of Employee’s “separation from service” (as such term is at the time defined in regulations under Section 409A of the Code) with the Company; or (ii) the date of Employee’s death following such separation from service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to Employee, including (without limitation) the additional twenty percent (20%) tax for which Employee would otherwise be liable under Section 409A(a)(1)(B) of the Code in the absence of such deferral. Upon the expiration of the applicable deferral period, any payments which would have otherwise been made 
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during that period (whether in a single sum or in installments) in the absence of this paragraph shall be paid to Employee or Employee’s beneficiary in one lump sum (without interest). Except as otherwise expressly provided herein, to the extent any expense reimbursement or the provision of any in‐kind benefit under this Agreement (or otherwise referenced herein) is determined to be subject to (and not exempt from) Section 409A of the Code, the amount of any such expenses eligible for reimbursement, or the provision of any in‐kind benefit, in one calendar year shall not affect the expenses eligible for reimbursement or in kind benefits to be provided in any other calendar year, in no event shall any expenses be reimbursed after the last day of the calendar year following the calendar year in which Employee incurred such expenses, and in no event shall any right to reimbursement or the provision of any in‐kind benefit be subject to liquidation or exchange for another benefit. To the extent that any provision of this Agreement is ambiguous as to its exemption or compliance with Section 409A, the provision will be read in such a manner so that all payments hereunder are exempt from Section 409A to the maximum permissible extent, and for any payments where such construction is not tenable, that those payments comply with Section 409A to the maximum permissible extent. To the extent any payment under this Agreement may be classified as a “short‐term deferral” within the meaning of Section 409A, such payment shall be deemed a short‐term deferral, even if it may also qualify for an exemption from Section 409A under another provision of Section 409A. Payments pursuant to this Agreement (or referenced in this Agreement), and each installment thereof, are intended to constitute separate payments for purposes of Section 1.409A‐2(b)(2) of the regulations under Section 409A. Any termination of Employee’s employment is intended to constitute a separation from service and will be determined consistent with the rules relating to a “separation from service” as such term is defined in Treasury Regulation Section 1.409A‐1.
23.Arbitration; Attorneys’ Fees.  Any and all disputes or claims arising out of or related to the validity, enforceability, interpretation, performance or breach of this Agreement shall be resolved through arbitration pursuant to the At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement.  If any such  action, the prevailing Party will be entitled to recover its reasonable attorneys’ fees, costs and expenses from the other Party, in addition to any other relief to which the prevailing Party may be entitled.
THE PARTIES CERTIFY THAT THEY HAVE READ THIS AGREEMENT, KNOW ITS CONTENTS, FULLY UNDERSTAND IT, AND ENTER INTO IT VOLUNTARILY AND FREE OF COERCION. NO PARTY IS BEING INFLUENCED BY ANY STATEMENT MADE BY OR ON BEHALF OF ANY OTHER PARTY TO THIS AGREEMENT, EXCEPT AS EXPRESSED HEREIN.
[Signature Page Follows]
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IN WITNESS WHEREOF, the undersigned have executed this Agreement on the dates shown below.
EMPLOYEE

SIGNED:  /s/ Scott Olrich    DATE: June 28, 2022
BY:  Scott Olrich

DOCUSIGN, INC.

SIGNED: /s/ James Shaughnessy    DATE: June 28, 2022
BY: James Shaughnessy
TITLE:  Chief Legal Officer
[Signature Page to Confidential Separation Agreement and General Release of Claims]
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