Document:

Exhibit 10.1

 

AMENDMENT TO INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

THIS
AMENDMENT TO INVESTMENT MANAGEMENT TRUST AGREEMENT (this “Amendment Agreement”), dated as of  December 8, 2022, is
made by and between Climate Real Impact Solutions II Acquisition Corporation, a Delaware corporation (the “Company”), and
Continental Stock Transfer & Trust Company, a New York corporation (the “Trustee”), and amends that certain Investment
Management Trust Company, effective as of January 26, 2021 (the “Trust Agreement”), by and between the Company and the
Trustee. Capitalized terms used but not defined in this Amendment Agreement have the meanings assigned to such terms in the Trust Agreement.

 

WHEREAS,
following the closing of the Company’s initial public offering of 24,150,000 units (the “Offering”) and
as of January 29, 2021, a total of $241,500,000.00 of the net proceeds from the Offering was placed in the Trust Account;

 

WHEREAS,
Section 1(i) of the Trust Agreement provides that the Trustee is to liquidate the Trust Account and distribute the Property in the
Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its
franchise and income taxes (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses), (x) upon
receipt of, and only in accordance with, the terms of a Termination Letter in a form substantially similar to that attached to the Trust
Agreement as Exhibit A or Exhibit B, as applicable, or (y) the date which is 24 months after the closing of the Offering,
if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in
accordance with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, shall
be distributed to the Public Stockholders of record as of such date;

 

WHEREAS,
Sections 6(c) and 6(d) of the Trust Agreement provide that Section 1(i) of the Trust Agreement may not be modified, amended
or deleted without the affirmative vote of sixty-five percent (65%) of the then outstanding shares of the Company’s Class A
common stock, par value $0.0001 per share (the “Common Stock”) and Class B common stock, par value $0.0001 per
share (the “Class B Common Stock”), of the Company, voting together as a single class; and

 

WHEREAS,
at a meeting of the stockholders of the Company held on or about the date hereof (the “Special Meeting”), at least
sixty five percent (65%) of the voting power of all then outstanding shares of the Common Stock and the Company’s Class B
Common Stock have voted to approve this Amendment Agreement;

 

WHEREAS,
at the Special Meeting, the stockholders of the Company also voted to approve the amendment to the Company’s amended and restated
certificate of incorporation (the certificate of incorporation, as so amended and restated, the “Amended Charter”);
and

 

WHEREAS,
each of the Company and the Trustee desires to amend the Trust Agreement as provided herein.

 

NOW,
THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1. Amendment
to the Trust Agreement. Effective as of the execution hereof, Section 1(i) of the Trust Agreement is hereby amended and restated
in its entirety as follows:

 

“(i) Commence
liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter
from the Company (“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit
A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer, President, Secretary
or Chairman of the board of directors of the Company (the “Board”) or other authorized officer of the Company,
and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest not previously
released to the Company to pay its franchise and incomes taxes (less up to $100,000 of interest that may be released to the Company to
pay dissolution expenses), only as directed in the Termination Letter and the other documents referred to therein; or (y) the Amended
Termination Date (as such term is defined in the Company’s amended and restated certificate of incorporation, as amended), if a
Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance
with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest
not previously released to the Company to pay its franchise and income taxes (less up to $100,000 of interest that may be released to
the Company to pay dissolution expenses) shall be distributed to the Public Stockholders of record as of such date;”

 

     

     

    

 

2.
Amendment to Exhibit B. Effective as of the execution hereof, Exhibit B of the Trust Agreement is hereby amended and restated in its
entirety with Exhibit B attached hereto.

 

3. No
Further Amendment. The parties hereto agree that except as provided in this Amendment Agreement, the Trust Agreement shall continue
unmodified, in full force and effect and constitute legal and binding obligations of all parties thereto in accordance with its terms.
This Amendment Agreement forms an integral and inseparable part of the Trust Agreement.

 

4. References.

 

(a)
All references to the “Trust Agreement” (including “hereof,” “herein,” “hereunder,”
“hereby” and “this Agreement”) in the Trust Agreement shall refer to the Trust Agreement as amended by this Amendment
Agreement. Notwithstanding the foregoing, references to the date of the Trust Agreement (as amended hereby) and references in the Trust
Agreement to “the date hereof,” “the date of this Trust Agreement” and terms of similar import shall in all instances
continue to refer to January 26, 2021.

 

(b)
All references to the “amended and restated certificate of incorporation” in the Trust Agreement (as amended by this Amendment
Agreement) and terms of similar import shall mean the Second Amended and Restated Certificate.

 

5. Governing
Law; Jurisdiction. This Amendment Agreement shall be governed by and construed and enforced in accordance with the laws of the State
of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another
jurisdiction. The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York,
State of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING
TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

 

6. Counterparts.
This Amendment Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute an original,
and together shall constitute but one instrument.

 

7. Other
Miscellaneous Terms. The provisions of Sections 6(f), 6(h) and 6(j) of the Trust Agreement shall apply mutatis mutandis to
this Amendment Agreement, as if set forth in full herein.

 

[Signature Pages Follow]

 

    2

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement to be duly executed by their duly authorized representatives,
all as of the day and year first above written.

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 
	 	By:	 /s/ Francis Wolf
	 	 	Name: 	Francis Wolf
	 	 	Title: 	Vice President

 

	 	CLIMATE REAL IMPACT SOLUTIONS II ACQUISITION CORPORATION
	 	 
	 	By:	 /s/ John A. Cavalier
	 	 	Name: 	John A. Cavalier
	 	 	Title: 	Chief Executive Officer and 

Chief Financial Officer

 

[Signature Page to the Amendment to the Trust
Agreement]

 

    3

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert Date]

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re:            Trust
Account Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i)
of the Investment Management Trust Agreement between Climate Real Impact Solutions II Acquisition Corporation (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of January 26, 2021 (as
amended, the “Trust Agreement”), this is to advise you that the Company has been unable to effect a business
combination with a Target Business (the “Business Combination”) within the time frame specified in the Company’s
amended and restated certificate of incorporation, as amended. Capitalized terms used but not defined herein shall have the meanings set
forth in the Trust Agreement.

 

In accordance with the
terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and transfer the total proceeds
into a segregated account held by you on behalf of the Beneficiaries to await distribution to the Public Stockholders. The Company has
selected [_____] as the effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share
of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute
said funds directly to the Company’s Public Stockholders in accordance with the terms of the Trust Agreement and the Company’s
amended and restated certificate of incorporation, as amended. Upon the distribution of all the funds, net of any payments necessary for
reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated,
except to the extent otherwise provided in Section 1(i) of the Trust Agreement.

 

	 	 	Very truly yours,
	 	 	 
	 	 	Climate Real
Impact Solutions II Acquisition Corporation
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 

 

cc: Barclays Capital Inc.

BofA Securities, Inc.EX-10.1

 Exhibit 10.1 

EXECUTIVE EMPLOYMENT AGREEMENT 

This EXECUTIVE EMPLOYMENT AGREEMENT dated as of December 7, 2022
(“Agreement”) is by and between Subodh Kulkarni (“Executive”) and RIGETTI COMPUTING, INC. (the “Company”). 

WHEREAS, the Company desires to employ Executive as Chief Executive Officer
(“CEO”) and to provide Executive with certain compensation and benefits in return for Executive’s services, and Executive agrees to be employed by the Company in such capacity and to receive the compensation and benefits
on the terms and conditions set forth herein; and 
 WHEREAS, the Company and Executive desire
to enter into this Agreement to become effective on December 12, 2022, subject to Executive’s signature below (the “Effective Date”) in order to memorialize the terms and conditions of Executive’s employment by
the Company upon and following the Effective Date. 
 NOW, THEREFORE, in consideration of the mutual
promises and covenants contained herein, the parties agree to the following: 
 1. Employment by the Company. 

1.1 Position. Subject to the terms set forth herein, the Company agrees to employ Executive in the position of CEO, and
Executive hereby accepts such continued employment on the terms and conditions set forth in this Agreement. 
 1.2 Duties. As
CEO, Executive will report to the Board of Directors of the Company (the “Board”), performing such duties as are normally associated with the position and such duties as are assigned from time to time, subject to the
oversight and direction of the Board. During the term of Executive’s employment with the Company, Executive will work on a full-time basis for the Company and will devote Executive’s best efforts and substantially all of Executive’s
business time and attention to the business of the Company; provided, however, for the period beginning on the Effective Date and continuing through January 8, 2023 (the “Part-time Period”), Executive shall
perform Executive’s duties within a time commitment averaging approximately fifty percent (50%) of that of a full-time professional. Executive shall perform Executive’s duties under this Agreement principally out of the Company’s
offices in Fremont and Berkeley, California. In addition, Executive shall make such business trips to such places as may be necessary or advisable for the efficient operations of the Company. 

1.3 Company Policies and Benefits. The employment relationship between the parties shall also be subject to the Company’s
personnel policies and procedures as they may be interpreted, adopted, revised or deleted from time to time in the Company’s sole discretion. Executive will be eligible to participate on the same basis as similarly situated employees in the
Company’s benefit plans in effect from time to time during Executive’s employment. All matters of eligibility for coverage or benefits under any benefit plan shall be determined in accordance with the provisions of such plan. The Company
reserves the right to change, alter, or terminate any benefit plan in its sole discretion. Notwithstanding the foregoing, in the event that the terms of this Agreement differ from or are in conflict with the Company’s general employment
policies or practices, this Agreement shall control. 

  
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 1.4 Vacation. While this Agreement is in effect, Executive shall also receive
unlimited paid time off subject to the Company’s vacation policies and procedures as in effect or amended from time to time. 

1.5 Indemnification. Subject to applicable law, Executive will be provided indemnification to the maximum extent permitted by the
Company’s Certificate of Incorporation or Bylaws, all as amended, including, if applicable, any directors and officers insurance policies, with such indemnification to be on terms determined by the Board or any of its committees. Such
indemnification shall be documented in an Indemnification Agreement provided after the Effective Date subject to approval by the Board. 

2. Compensation. 

2.1 Salary. Executive shall receive for Executive’s services to be rendered under this Agreement an initial base salary of
$585,000.00 on an annualized basis, subject to review and adjustment by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements in accordance with the Company’s standard payroll
practices (“Base Salary”); provided, however, during the Part-time Period, Executive’s base salary shall be fifty percent (50%) of the Base Salary or such other proportion as shall be mutually agreed by Executive
and the Board. 
 2.2 Annual Bonus. For each calendar year during Executive’s employment, starting with calendar year
2023, Executive shall be eligible for a discretionary annual cash bonus of a target amount equal to $290,000.00 (“Target Amount”), subject to review and adjustment by the Company in its reasonable discretion, payable subject
to standard federal and state payroll withholding requirements. Whether or not Executive earns any bonus will be dependent upon (a) Executive’s continuous performance of services to the Company through the last date of the applicable
performance period, unless otherwise provided for in this Agreement; and (b) the actual achievement by Executive and the Company of the applicable performance targets and goals set by the Board or the Compensation Committee of the Board
(“Compensation Committee”). The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. The Board or its Compensation Committee will determine in its reasonable
discretion the extent to which Executive and the Company have achieved the performance goals upon which the bonus is based and the amount of the bonus, which could be above or below the Target Amount (and may be zero). The bonus, if awarded, will be
paid no later than March 15 of the calendar year immediately following the calendar year for which the bonus is being measured. 

2.3 Equity. 
 (a) Subject
to the approval of the Board or the Compensation Committee, as soon as practicable following the commencement of the Executive’s employment with the Company, the Company will grant Executive an option to purchase 1,250,000 shares of common
stock in the Company (the “Option”), which will have an exercise price per share equal to the closing price per share of the Company’s common stock on the applicable grant date. The

  
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anticipated Option will be governed by the terms and conditions of that certain 2022 Equity Incentive Plan (the “Plan”) and a written award agreement between the Company
and Executive, which will govern and control the Option in all respects, and will include the following vesting schedule: 12/36ths of the total shares subject to the Option will vest on the one year anniversary of the vesting commencement date, and
1/36th of the total shares subject to the Option will vest each month thereafter on the same day of the month as the vesting commencement date (or if there is no corresponding day, on the last day of the month), in each case, subject to
Executive’s Continuous Service (as defined in the Plan) through each such date. 
 (b) Subject to the approval of the Board or the
Compensation Committee, as soon as practicable following the commencement of the Executive’s employment with the Company, the Company will grant Executive an option to purchase 500,000 shares of common stock in the Company (the
“Performance Option”), which will have an exercise price per share equal to the closing price per share of the Company’s common stock on the applicable grant date. The anticipated Performance Option will be governed by
the terms and conditions of the Plan and a written award agreement between the Company and Executive, which will govern and control the Performance Option in all respects, and will include the vesting terms and conditions set forth in Schedule 1
hereto. 
 (c) Executive will also be eligible to receive awards of stock options, restricted stock, restricted stock units or other equity
awards pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or a committee of the Board shall determine in its discretion whether Executive shall be granted any such equity awards and the terms of any
such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time. 
 2.4
Relocation Benefit. Subject to Executive’s relocation to the Bay Area of California by no later than 120 days following the Effective Date, Executive is eligible to receive a one-time relocation
benefit in the gross amount of $130,000.00 (the “Relocation Benefit”). The Relocation Benefit will be paid to Executive in a lump sum within thirty (30) days after Executive completes the relocation. If Executive’s
employment with the Company ends before the first anniversary of the Effective Date for any reason other than due to Executive’s resignation for Good Reason (as defined herein) or a termination without Cause (as defined herein) by the Company,
Executive shall be required to immediately repay the Company the full gross amount of the Relocation Benefit. 
 2.5 Expense
Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company’s standard expense reimbursement policy, as the same may be modified by the Company from time to time. Travel related costs
incurred prior to Executive’s relocation will be considered as standard business expenses. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Code:
(a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for
reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. For purposes of this Agreement, the “Code” means the U.S.
Internal Revenue Code of 1986 (as it has been and may be amended from time to time) and any regulations and guidance that has been promulgated or may be promulgated from time to time thereunder and any state law of similar effect. 

  
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 3. Confidential Information and Invention Assignment Obligations. As a
condition of continued employment, Executive agrees to execute and abide by a Confidential Information and Invention Assignment Agreement attached as Exhibit A (“Proprietary Information Agreement”), which may be amended by
the parties from time to time without regard to this Agreement. The Proprietary Information Agreement contains provisions that are intended by the parties to survive and do survive termination of this Agreement. 

4. Outside Activities during Employment. Other than during the Part-time Period, during the term of Executive’s employment
with the Company, Executive will work on a full-time basis for the Company and will devote Executive’s best efforts and substantially all of Executive’s business time and attention to the business of the Company. Except with the prior
written consent of the Board, including consent given to Executive prior to the signing of this Agreement, Executive will not, while employed by the Company, undertake or engage in any other employment, occupation or business enterprise that would
interfere with Executive’s responsibilities and the performance of Executive’s duties hereunder except for (i) reasonable time devoted to volunteer services for or on behalf of such religious, educational, non-profit and/or other charitable organization as Executive may wish to serve, (ii) reasonable time devoted to activities in the non-profit and business communities
consistent with Executive’s duties; (iii) the activities set forth in Schedule 2 hereto; and (iv) such other activities as may be specifically approved by the Board, and such approval shall not be unreasonably withheld. This
restriction shall not, however, preclude Executive (x) from owning less than one percent (1%) of the total outstanding shares of a publicly traded company, or (y) from employment or service in any capacity with Affiliates of the Company.
As used in this Agreement, “Affiliates” means an entity under common management or control with the Company. 

5. No Conflict with Existing Obligations. Executive represents that Executive’s performance of all the terms of this
Agreement does not and will not breach any agreement or obligation of any kind made prior to Executive’s employment by the Company, including agreements or obligations Executive may have with prior employers or entities for which Executive has
provided services. Executive has not entered into, and Executive agrees that Executive will not enter into, any agreement or obligation, either written or oral, in conflict herewith. 

6. Termination of Employment. The parties acknowledge that Executive’s employment relationship with the Company is at-will, meaning either the Company or Executive may terminate Executive’s employment at any time, with or without cause or advance notice. The provisions in this Section govern the amount of compensation, if
any, to be provided to Executive upon termination of employment and do not alter Executive’s at-will status. 

6.1 Termination by the Company without Cause or for Good Reason. 

(a) The Company shall have the right to terminate Executive’s employment with the Company pursuant to this
Section 6.1 at any time, in accordance with Section 6.6, without “Cause” (as defined in Section 6.3(b) below) by giving notice as described in
Section 7.1 of this Agreement. A termination pursuant to Section 6.5 below is not a termination without “Cause” for purposes of receiving the benefits described in Sections 6.1
or Section 6.2. 

  
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 (b) If the Company terminates Executive’s employment at any time without Cause or
Executive terminates employment with the Company for Good Reason and provided that such termination constitutes a “separation from service” (as defined under Treasury Regulation
Section 1.409A-1(h), without regard to any alternative definition thereunder, a “Separation from Service”), then Executive shall be entitled to receive the Accrued Obligations
(defined below). If Executive complies with the obligations in Section 6.1(c) below, Executive shall also be eligible to receive the following “Severance Benefits”: 

(i) The Company will pay Executive an amount equal to Executive’s then current Base Salary for twenty-four (24) months, less all
applicable withholdings and deductions, paid in equal installments on the Company’s normal payroll schedule following the termination date, with the first payment beginning on the Severance Pay Commencement Date (as defined in
Section 6.1(c) below), and the remaining installments occurring on the Company’s regularly scheduled payroll dates thereafter; provided that on the Severance Pay Commencement Date, the Company will pay in a lump
sum the aggregate amount of the cash severance payments that the Company would have paid Executive through such date had the payments commenced on the effective date of termination through the Severance Pay Commencement Date. 

(ii) If Executive timely elects continued coverage under COBRA for Executive and Executive’s covered dependents under the Company’s
group health plans following such termination, then the Company shall pay Executive a lump sum amount equal to the COBRA premiums necessary to continue Executive’s and Executive’s covered dependents’ health insurance coverage in
effect for Executive (and Executive’s covered dependents) on the termination date for a period of twenty-four (24) months following the termination date, less all applicable withholdings and deductions, paid on the Severance Pay
Commencement Date. 
 (iii) The Company will pay a bonus equivalent to two times Executive’s full Target Amount. This bonus will be
payable in two installments, subject to standard federal and state payroll withholding requirements: (1) the first in a lump sum payment on the Severance Pay Commencement Date; and (2) the second on the date occurring twelve
(12) months following the Severance Pay Commencement Date. 
 (iv) Notwithstanding the terms of any equity plan or award agreement to
the contrary, the time-based vesting conditions applicable to 100% of Executive’s then outstanding stock options and/or other equity awards subject to time-based vesting requirements as of Executive’s termination date shall be accelerated
as of the date of termination. 
 (c) Executive will be paid all of the Accrued Obligations on the Company’s first payroll date after
Executive’s date of termination from employment or earlier if required by law. Executive shall receive the Severance Benefits pursuant to Section 6.1(b) or the Change in Control Severance Benefits
(defined below) pursuant to Section 6.2 of this Agreement, as applicable, if: (i) Executive executes and does not revoke a separation agreement in a form similar to Exhibit B (the “Release”) and
the Release is enforceable and effective as provided in the Release on or before the date that is the sixtieth (60th) day following the effective date of

  
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termination (such 60th day, the “Severance Pay Commencement Date”); (ii) if Executive holds any other positions with
the Company, Executive resigns such position(s) to be effective no later than the date of Executive’s termination date (or such other date as requested by the Board); (iii) Executive returns all Company property on or before the Severance Pay
Commencement Date; (iv) Executive complies with Executive’s post-termination obligations under this Agreement and the Proprietary Information Agreement; and (v) Executive complies with the terms of the Release. 

(d) For purposes of this Agreement, “Accrued Obligations” are (i) Executive’s accrued but unpaid salary and
accrued but unused vacation (in the event the Company adopts an accrual vacation policy) through the date of termination, (ii) any unreimbursed business expenses incurred by Executive payable in accordance with the Company’s standard
expense reimbursement policies, and (iii) benefits owed to Executive under any qualified retirement plan or health and welfare benefit plan in which Executive was a participant in accordance with applicable law and the provisions of such plan.

 (e) The Severance Benefits provided to Executive pursuant to this Section 6.1 are in lieu of, and not in
addition to, any benefits to which Executive may otherwise be entitled under any Company severance plan, policy or program. 
 (f) For
purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following events without Executive’s consent: (i) a material reduction in Executive’s Base Salary, other than a reduction
applied in a similar proportional amount to all similarly situated executives; (ii) a material breach of this Agreement by the Company; (iii) a material reduction in the Executive’s duties, authority and responsibilities relative to
the Executive’s duties, authority, and responsibilities in effect immediately prior to such reduction; (iv) a material change in Executive’s reporting relationship, other than such change made directly in connection with
organizational changes resulting from a Change in Control; or (v) the relocation of Executive’s principal place of employment, without Executive’s consent, in a manner that lengthens Executive’s
one-way commute distance by twenty-five (25) or more miles from Executive’s then-current principal place of employment immediately prior to such relocation; provided, however, that, any such
termination by Executive shall only be deemed for Good Reason pursuant to this definition if: (1) Executive gives the Company written notice of Executive’s intent to terminate for Good Reason within thirty (30) days following the
first occurrence of the condition(s) that Executive believes constitute(s) Good Reason, which notice shall describe such condition(s); (2) the Company fails to remedy such condition(s) within thirty (30) days following receipt of the written
notice (the “Cure Period”); and (3) Executive voluntarily terminates employment within thirty (30) days following the end of the Cure Period, or the parties agree in writing to extend such Cure Period. 

6.2 Termination by the Company without Cause or for Good Reason Coincident with a Change in Control. If Executive’s
employment by the Company is terminated by the Company or any successor entity without “Cause” (and not due to Disability or death) or by Executive for Good Reason, in either case, within three (3) months prior to or within twelve
(12) months following the effective date of a “Change in Control” (as defined in the Plan), and, in either case, provided that such termination constitutes a Separation from Service, without regard to any alternative
definition thereunder, then in addition to paying or providing Executive with the Accrued Obligations, and subject to compliance with Section 6.1(c), the following additional benefits shall be provided in lieu of, and not
in addition to, the Severance Benefits provided for in Section 6.1(b) (the “Change in Control Severance Benefits”): 

  
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 (a) The Company will pay Executive a lump sum equal to two (2) times Executive’s
then current annual Base Salary, less all applicable withholdings and deductions, paid on the Severance Pay Commencement Date. 
 (b) If
Executive timely elects continued coverage under COBRA for Executive and Executive’s covered dependents under the Company’s group health plans following such termination, then the Company shall pay Executive a lump sum amount equal to the
COBRA premiums necessary to continue Executive’s and Executive’s covered dependents’ health insurance coverage in effect for Executive (and Executive’s covered dependents) on the termination date for a period of twenty-four
(24) months following the termination date, less all applicable withholdings and deductions, paid on the Severance Pay Commencement Date. 

(c) The Company will pay a bonus equivalent to two (2) times Executive’s full Target Amount. This bonus will be payable subject to
standard federal and state payroll withholding requirements in a lump sum payment on the Severance Pay Commencement Date. 
 (d)
Notwithstanding the terms of any equity plan or award agreement to the contrary, the time-based vesting conditions applicable to 100% of Executive’s then outstanding stock options and/or other equity awards subject to time-based vesting
requirements as of Executive’s termination date shall be accelerated as of the date of termination. 
 6.3 Termination by the Company
for Cause. 
 (a) The Company shall have the right to terminate Executive’s employment with the Company at any time, in accordance
with Section 6.6, for Cause by giving notice as described in Section 7.1 of this Agreement. In the event Executive’s employment is terminated at any time for Cause, Executive will not receive
Severance Benefits, Change in Control Severance Benefits, or any other severance compensation or benefits, except that, pursuant to the Company’s standard payroll policies, the Company shall pay to Executive the Accrued Obligations. 

(b) “Cause” for termination shall mean that the Company has determined in
its sole discretion that Executive has engaged in any of the following: (i) Executive’s material breach of any covenant or condition under this Agreement or any other agreement between the parties; (ii) Executive’s material act
constituting dishonesty or fraudulent conduct in connection with Executive’s duties to the Company; (iii) any conduct which constitutes a felony or a crime of moral turpitude under applicable law; (iv) material violation of any
Company policy; (v) refusal to follow or implement a clear and reasonable directive of Company, or any act of willful or intentional misconduct in relation to the Executive’s duties to the Company; (vi) repeated or willful failure by
Executive to perform Executive’s duties in a manner satisfactory to the Company; or (vii) Executive’s breach of fiduciary duty to the Company; provided that Sections 6.3(b)(i), (iv) and (vi) shall only
provide the basis for a Cause termination if the Executive has not cured such breach, violation or conduct, to the extent curable, after the expiration of ten (10) days following the Company providing Executive with written notice of such basis
for Cause.  

  
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 6.4 Resignation by Executive. 

(a) Executive may resign from Executive’s employment with the Company at any time, in accordance with
Section 6.6, by giving notice as described in Section 7.1. 
 (b) In the event Executive
resigns from Executive’s employment with the Company for any reason other than Good Reason in accordance with Sections 6.1 or 6.2, Executive will not receive Severance Benefits, Change in Control Severance Benefits, or any other
severance compensation or benefits, except that, pursuant to the Company’s standard payroll policies, the Company shall pay to Executive the Accrued Obligations. 

6.5 Termination by Virtue of Death or Disability of Executive. 

(a) In the event of Executive’s death while employed pursuant to this Agreement, all obligations of the parties hereunder shall
terminate, in accordance with Section 6.6, and the Company shall, pursuant to the Company’s standard payroll policies, pay to Executive’s legal representatives all Accrued Obligations. 

(b) Subject to applicable state and federal law, the Company shall at all times have the right, upon written notice to Executive, and in
accordance with Section 6.6, to terminate Executive’s employment based on Executive’s Disability. Termination by the Company of Executive’s employment based on “Disability” shall mean
termination because Executive is unable due to a physical or mental condition to perform the essential functions of Executive’s position with or without reasonable accommodation for 180 days in the aggregate during any twelve (12) month
period or based on the written certification by two licensed physicians of the likely continuation of such condition for such period. This definition shall be interpreted and applied consistent with the Americans with Disabilities Act, the Family
and Medical Leave Act, and other applicable federal, state or local law. In the event Executive’s employment is terminated by the Company based on Executive’s Disability or Executive voluntarily resigns due to such Disability, Executive
will not receive Severance Benefits, Change in Control Severance Benefits, or any other severance compensation or benefit, except that, pursuant to the Company’s standard payroll policies, the Company shall pay to Executive the Accrued
Obligations. 
 6.6 Notice; Effective Date of Termination. 

(a) Termination of Executive’s employment pursuant to this Agreement shall be effective on the earliest of: 

(i) immediately after the Company gives notice to Executive of Executive’s termination, with or without Cause, unless pursuant to
Section 6.3(b)(i), if curable, or Section 6.3(b)(vi), in which case ten (10) days after notice if not cured or unless the Company specifies a later date, in which case, termination shall be
effective as of such later date; 
 (ii) immediately upon the Executive’s death; 

  
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 (iii) ten (10) days after the Company gives notice to Executive of Executive’s
termination on account of Executive’s Disability, unless the Company specifies a later date, in which case, termination shall be effective as of such later date, provided that Executive has not returned to the full-time performance of
Executive’s duties prior to such date; 
 (iv) ten (10) days after the Executive gives written notice to the Company of
Executive’s resignation, provided that the Company may set a termination date at any time between the date of notice and the date of resignation, in which case the Executive’s resignation shall be effective as of such other date.
Executive will receive compensation through any required notice period; or 
 (v) for a termination for Good Reason, immediately upon
Executive’s full satisfaction of the requirements of Section 6.1(f). 
 (b) In the event of a termination for
Cause, written confirmation shall specify the subsection(s) of the definition of Cause relied on to support the decision to terminate. 

6.7 Cooperation with Company after Termination of Employment. Following termination of Executive’s employment for any
reason, Executive agrees to provide reasonable cooperation to the Company in connection with its actual or contemplated defense, prosecution, or investigation of any claims or demands by or against third parties, or other matters arising from
events, acts, or failures to act that occurred during the period of Executive’s employment by the Company. Such cooperation includes, without limitation, making Executive available to the Company upon reasonable notice, without subpoena, to
provide complete, truthful and accurate information in witness interviews, depositions and trial testimony. The Company will reimburse Executive for reasonable
out-of-pocket expenses Executive incurs in connection with any such cooperation (excluding forgone wages, salary, or other compensation) and will make reasonable efforts
to accommodate Executive’s scheduling needs and for more than de minimis service, the parties will agree on a mutually agreeable per diem rate. In addition, in the event Executive is receiving Severance Benefits or Change in Control Severance
Benefits, for twenty-four (24) months after Executive’s employment with the Company ends for any reason, Executive agrees to reasonably cooperate with the Company in all matters relating to the transition of Executive’s work
and responsibilities on behalf of the Company, including, but not limited to, any present, prior or subsequent relationships and the orderly transfer of any such work and institutional knowledge to such other persons as may be designated by the
Company. Such transition assistance described in the previous sentence shall not be subject to additional compensation, and the Company will make reasonable efforts to accommodate Executive’s scheduling needs. 

6.8 Application of Section 409A. It is intended that all of the severance payments payable under this
Agreement satisfy, to the greatest extent possible, the exemptions from the application of Section 409A of the Code and the regulations and other guidance thereunder and any state law of similar effect (collectively,
“Section 409A”) provided under Treasury Regulations Sections 1.409A-1(b)(4) and 1.409A-1(b)(9), and this
Agreement will be construed in a manner that complies with Section 409A. If not so exempt, this Agreement (and any definitions hereunder) will be construed in a manner that complies with Section 409A, and incorporates by reference all
required definitions and payment terms. No severance payments will 

  
 9 

 
be made under this Agreement unless Executive’s termination of employment constitutes a “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h)). For purposes of Section 409A (including, without limitation, for purposes of Treasury Regulations Section 1.409A-2(b)(2)(iii)),
Executive’s right to receive any installment payments under this Agreement (whether severance payments or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall
at all times be considered a separate and distinct payment. If the Company determines that the severance benefits provided under this Agreement constitutes “deferred compensation” under Section 409A and if Executive is a
“specified employee” of the Company, as such term is defined in Section 409A(a)(2)(B)(i) of the Code at the time of Executive’s Separation from Service, then, solely to the extent necessary to avoid the incurrence of the adverse
personal tax consequences under Section 409A, the timing of the severance benefits will be delayed as follows: on the earlier to occur of (a) the date that is six months and one day after Executive’s Separation from Service, and
(b) the date of Executive’s death (such earlier date, the “Delayed Initial Payment Date”), the Company will (i) pay to Executive a lump sum amount equal to the sum of the severance benefits that Executive would
otherwise have received through the Delayed Initial Payment Date if the commencement of the payment of the severance benefits had not been delayed pursuant to this Section 6.8 and (ii) commence paying the balance of
the severance benefits in accordance with the applicable payment schedule set forth in Section 6. No interest shall be due on any amounts deferred pursuant to this Section 6.8. To the extent that
any Severance Benefits or Change in Control Severance Benefits, as applicable, are deferred compensation under Section 409A of the Code, and are not otherwise exempt from the application of Section 409A, then, if the period during which
Executive may consider and sign the Release spans two calendar years, the payment of any such Severance Benefit will not be made or begin until the later calendar year. 

6.9 Section 280G. Notwithstanding any other provision of this Agreement to the contrary, if payments made or benefits provided
pursuant to this Agreement or otherwise from the Company or any person or entity are considered “parachute payments” under Section 280G of the Code after the application of all exemptions available under Code
Section 280G(b)(5)(A), then such parachute payments will be limited to the greatest amount that may be paid to Executive under Section 280G of the Code without causing any loss of deduction to the Company under such section, but only if,
by reason of such reduction, the net after tax benefit to Executive will exceed the net after tax benefit if such reduction were not made. “Net after tax benefit” for purposes of this Agreement will mean the sum of
(i) the total amounts payable to the Executive under this Agreement, plus (ii) all other payments and benefits which the Executive receives or then is entitled to receive from the Company or otherwise that would constitute a
“parachute payment” within the meaning of Section 280G of the Code, less (iii) the amount of federal, state and local taxes payable with respect to the foregoing calculated at the maximum marginal income tax rate for each year in
which the foregoing will be paid to Executive (based upon the rate in effect for such year as set forth in the Code at the time of termination of Executive’s employment), less (iv) the amount of excise taxes imposed with respect to the
payments and benefits described in (i) and (ii) above by Section 4999 of the Code. The determination as to whether and to what extent payments are required to be reduced in accordance with this Section 6.9 will be
made at the Company’s expense by a nationally recognized certified public accounting firm or other professional services firm, in either case, as may be designated by the Company prior to a change in control (the
“Firm”). In the event of any mistaken underpayment or overpayment under this Agreement, as determined by the Firm, the amount of such underpayment or overpayment will 

  
 10 

 
forthwith be paid to Executive or refunded to the Company, as the case may be, with interest at one hundred twenty (120%) of the applicable Federal rate provided for in Section 7872(f)(2) of
the Code. Any reduction in payments required by this Section 6.9 will occur in the following order: (1) any cash severance, (2) cancellation of equity awards being taken into account at full value that were
granted “contingent on a change in ownership or control” within the meaning of 280G of the Code in the reverse order of date of grant of the awards (that is, the most recently granted equity awards will be cancelled first); (3) any other
cash amount payable to Executive, (4) any benefit valued as a “parachute payment,” (5) the acceleration of vesting of any equity awards that are options, and (6) the acceleration of vesting of any other equity awards. Within any
such category of payments and benefits, a reduction will occur first with respect to amounts that are not “deferred compensation” within the meaning of Section 409A and then with respect to amounts that are. In the event that
acceleration of compensation from equity awards is to be reduced, such acceleration of vesting will be canceled, subject to the immediately preceding sentence, in the reverse order of the date of grant. 

7. General Provisions. 

7.1 Notices. Any notices hereunder must be in writing and shall be deemed effectively given: (a) upon personal delivery to
the party to be notified, (b) when sent by electronic mail if sent during normal business hours of the recipient, and if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return
receipt requested, postage prepaid, or (d) one (1) business day after timely deposit for next-business-day delivery with a nationally recognized overnight courier, specifying next-business-day delivery, with written verification of receipt. All communications shall be sent to the Company at its primary office location, or to legal@rigetti.com, and to Executive at either
Executive’s address as listed on the Company payroll records, or Executive’s Company-issued email address, or at such other address as the Company or Executive may designate by ten (10) days advance written notice to the other. 

7.2 Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and
valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect
any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provisions had never been contained herein. 

7.3 Survival. Provisions of this Agreement which by their terms must survive the termination of this Agreement in order to
effectuate the intent of the parties will survive any such termination for such period as may be appropriate under the circumstances. 

7.4 Waiver. If either party should waive any breach of any provisions of this Agreement, it shall not thereby be deemed to have
waived any preceding or succeeding breach of the same or any other provision of this Agreement. 

  
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 7.5 Complete Agreement. This Agreement constitutes the entire agreement
between Executive and the Company with regard to the subject matter hereof. This Agreement is the complete, final, and exclusive embodiment of their agreement with regard to this subject matter and supersedes any prior oral discussions or written
communications and agreements. This Agreement is entered into without reliance on any promise or representation other than those expressly contained herein, and it cannot be modified or amended except in writing signed by Executive and an authorized
officer of the Company. The parties have entered into a separate Proprietary Information Agreement and have or may enter into separate agreements related to equity. These separate agreements govern other aspects of the relationship between the
parties, have or may have provisions that survive termination of Executive’s employment under this Agreement, may be amended or superseded by the parties without regard to this Agreement and are enforceable according to their terms without
regard to the enforcement provision of this Agreement. 
 7.6 Counterparts. This Agreement may be executed in separate
counterparts, any one of which need not contain signatures of more than one party, but all of which taken together will constitute one and the same Agreement. The parties agree that facsimile and scanned image copies of signatures, including
DocuSign, will suffice as original signatures. 
 7.7 Withholding Taxes. The Company will be entitled to withhold from any
payment due to Executive hereunder any amounts required to be withheld by applicable tax laws or regulations. 
 7.8 Headings.
The headings of the sections hereof are inserted for convenience only and shall not be deemed to constitute a part hereof nor to affect the meaning thereof. 

7.9 Successors and Assigns. The Company shall assign this Agreement and its rights and obligations hereunder in whole, but not in
part, to any Company or other entity with or into which the Company may hereafter merge or consolidate or to which the Company may transfer all or substantially all of its assets, if in any such case said Company or other entity shall by operation
of law or expressly in writing assume all obligations of the Company hereunder as fully as if it had been originally made a party hereto, but may not otherwise assign this Agreement or its rights and obligations hereunder. Executive may not assign
or transfer this Agreement or any rights or obligations hereunder, other than to Executive’s estate upon Executive’s death. 

7.10 Choice of Law. All questions concerning the construction, validity and interpretation of this Agreement will be governed by
the laws of the State of California. 
 7.11 Dispute Resolution. The parties recognize that litigation in federal or state
courts or before federal or state administrative agencies of disputes arising out of the Executive’s employment with the Company or out of this Agreement, or the Executive’s termination of employment or termination of this Agreement, may
not be in the best interests of either the Executive or the Company, and may result in unnecessary costs, delays, complexities, and uncertainty. Except where prohibited by law, the parties agree that any dispute between the parties arising out of or
relating to the negotiation, execution, performance or termination of this Agreement or the Executive’s employment, including, but not limited to, any claim arising out of this Agreement, claims under Title VII of the Civil Rights Act of 1964,
as amended, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, Section 1981 of the Civil Rights Act of 1966, as amended, the Family Medical Leave Act, the Executive
Retirement Income Security Act, and any similar federal, state 

  
 12 

 
or local law, statute, regulation, or any common law doctrine, whether that dispute arises during or after employment, shall be settled by binding arbitration in accordance with the National
Rules for the Resolution of Employment Disputes of the American Arbitration Association. The location for the arbitration shall be in Alameda County, California. Any award made by such panel shall be final, binding and conclusive on the parties for
all purposes, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. The arbitrators’ fees and expenses and all administrative fees and expenses associated with the filing of the
arbitration shall be borne by the Company; provided however, that at the Executive’s option, Executive may voluntarily pay up to one-half the costs and fees. The parties acknowledge and
agree that their obligations to arbitrate under this Section survive the termination of this Agreement and continue after the termination of the employment relationship between Executive and the Company. The parties each further agree that the
arbitration provisions of this Agreement shall provide each party with its exclusive remedy, and each party expressly waives any right it might have to seek redress in any other forum, except as otherwise expressly provided in this Agreement.
By election arbitration as the means for final settlement of all claims, the parties hereby waive their respective rights to, and agree not to, sue each other in any action in a Federal, State or local court with respect to such claims, but may
seek to enforce in court an arbitration award rendered pursuant to this Agreement. The parties specifically agree to waive their respective rights to a trial by jury, and further agree that no demand, request or motion will be made for trial by
jury.  
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 IN WITNESS WHEREOF, the
parties have duly executed this Agreement as of the date first above written. 
  

			
	RIGETTI COMPUTING, INC.
		
	By:	 	 /s/ Rick Danis

		 	Name: Rick Danis
		 	Title: Interim President and CEO
	
	EXECUTIVE
	
	 /s/ Subodh Kulkarni

	Subodh Kulkarni

 [SIGNATURE PAGE TO EXECUTIVE EMPLOYMENT AGREEMENT]

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