Document:

Transition and Separation Agreement

 Exhibit 10.1 
 September 6, 2012 
 Jeff Karp 
 Via email 
 Dear Jeff: 
 You have indicated an intent to resign from your employment with Zynga Inc. (the “Company”), as well as from all other positions you may hold with any affiliated entity of the Company.
This agreement (“Agreement”) sets forth the parties’ agreement concerning the terms of your resignation from the Company. Please note that this Agreement is subject to the approval of the Compensation Committee of the Board of
Directors of the Company on or before September 10, 2012. If the Compensation Committee does not approve the terms of this Agreement by such date, this Agreement, and all promises contained herein, will be null and void, and you shall have no
rights or entitlement to any of the promises or benefits contained herein. 
 1. Transition/Separation. You will
continue to serve as the Company’s Chief Marketing and Revenue Officer through September 10, 2012. Between September 11, 2012 and September 22, 2012 (the “Transition Period”), you will remain employed by the
Company and shall provide transitional assistance to the Company as requested by the Company. During the Transition Period, you will receive your regular salary and shall remain eligible for the Company’s standard benefits, subject to the terms
and conditions of the plans. Your resignation will be effective on September 22, 2012 (the “Separation Date”), which will be your final day of employment. 

2. Severance Benefits. Although the Company is not otherwise obligated to provide you with severance benefits, if you sign
and return this Agreement to the Company within twenty-one (21) days, and allow it to become effective, and provided you continue to comply with your obligations under your Confidentiality Agreement (defined below), the Company will provide you
with the following severance benefits: 
 (a) Severance Payment. The Company will pay you, as severance, the equivalent
of three (3) months of your base salary in effect as of the Separation Date. This amount will be paid to you in a lump sum payment, less applicable taxes, within ten (10) days after the Effective Date (as defined in Section 8).

 (b) COBRA Payment. The Company will also pay you an amount equal to three (3) months of your premium payments to
extend your health insurance coverage under COBRA. This amount will also be paid to you in a lump sum, less applicable taxes, within ten (10) days after the Effective Date (as defined in Section 8). 

(c) ZSU Acceleration. The Company will accelerate the vesting of your July 2011 ZSU Award as to 100,000 ZSUs. This acceleration
will be reflected in your employee 

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stock account two business days after the Effective Date of this Agreement (as defined in Section 8). All other unvested ZSUs will be automatically cancelled and forfeited as of the
Separation Date under the terms of the agreements governing your ZSUs. Except as expressly set forth in this section, this Agreement does not otherwise modify your rights and obligations under the agreements governing the ZSUs. 

3. Other Compensation or Benefits. You acknowledge that, except as expressly provided in this Agreement, you have
not earned and will not receive from the Company, any additional compensation (including base salary, bonus (including a bonus for the quarter in which the Separation Date occurs), incentive compensation, or equity), severance, or benefits before or
after the Separation Date. You acknowledged and agree that the benefits set forth herein constitute the sole severance benefits that you are eligible to receive from the Company. 

4. Return of Company Property. By the close of business on the Separation Date, you agree to return to the Company
all Company documents (and all copies thereof) and other Company property which you have in your possession or control. Your timely compliance with this paragraph is a condition precedent to your receipt of the severance benefits provided under this
Agreement. 
 5. Proprietary Information Obligations. You acknowledge and reaffirm your continuing obligations
under your Employee Invention Assignment and Confidentiality Agreement (the “Confidentiality Agreement”), a copy of which is attached hereto as Exhibit A. 

6. Nondisparagement. You agree not to disparage the Company and its officers, directors, employees, shareholders, and
agents, in any manner likely to be harmful to its or their business, business reputation, or personal reputation, and the Company agrees to instruct its executives not to disparage you in any manner likely to be harmful to your business or personal
reputation; provided that either party may respond accurately and fully to any question, inquiry or request for information when required by legal process. 
 7. Release of Claims. In exchange for the benefits under this Agreement, you hereby generally and completely release the Company and its directors, officers, employees,
shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way
related to events, acts, conduct, or omissions occurring at any time prior to and including the date you sign this Agreement. This general release includes, but is not limited to: (a) all claims arising out of or in any way related to your
employment with the Company or your separation from the Company; (b) all claims related to your compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe
benefits, stock, stock options, or any other ownership interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including
claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other
claims arising under the federal Civil Rights Act 

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of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act (“ADEA”), the California Labor Code (as amended), the
California Family Rights Act, and the California Fair Employment and Housing Act (as amended). Notwithstanding the foregoing, you are not releasing the Company hereby from any obligation to indemnify you pursuant to the Articles and Bylaws of the
Company, any valid fully executed indemnification agreement with the Company, applicable law, or applicable directors and officers liability insurance. Also, excluded from this Agreement are any claims that cannot be waived by law. You are waiving,
however, your right to any monetary recovery should any governmental agency or entity, such as the Equal Employment Opportunity Commission or the Department of Labor, pursue any claims on your behalf. You represent that you have no lawsuits, claims
or actions pending in your name, or on behalf of any other person or entity, against the Company or any other person or entity subject to the release granted in this paragraph. 

8. ADEA Release. You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you have under the ADEA,
and that the consideration given for the waiver and releases you have given in this Agreement is in addition to anything of value to which you were already entitled. You further acknowledge that you have been advised, as required by the ADEA, that:
(a) your waiver and release does not apply to any rights or claims that arise after the date you sign this Agreement; (b) you should consult with an attorney prior to signing this Agreement (although you may choose voluntarily not to do
so); (c) you will have more than twenty-one (21) days to consider this Agreement (although you may choose voluntarily to sign it sooner); (d) you have seven (7) days following the date you sign this Agreement to revoke this
Agreement (in a written revocation sent to me); and (e) this Agreement will not be effective until the date upon which the revocation period has expired, which will be the eighth day after you sign this Agreement provided that you do not revoke
it (the “Effective Date”). 
 9. Section 1542 Waiver. In giving the release herein, which includes claims
which may be unknown to you at present, you acknowledge that you have read and understand Section 1542 of the California Civil Code, which reads as follows: “A general release does not extend to claims which the creditor does not know
or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.”You hereby expressly waive and relinquish all rights and
benefits under that section and any law of any other jurisdiction of similar effect with respect to your release of claims herein, including but not limited to your release of unknown claims. 

10. Representations. You hereby represent that you have been paid all compensation owed and for all hours worked, have
received all the leave and leave benefits and protections for which you are eligible pursuant to the Family and Medical Leave Act, the California Family Rights Act, or otherwise, and have not suffered any on-the-job injury for which you have not
already filed a workers’ compensation claim. 
 11. Miscellaneous. This Agreement, including Exhibit A,
constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with 

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regard to its subject matter. It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such
promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company. This Agreement will bind the heirs, personal representatives, successors and
assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination
will not affect any other provision of this Agreement and the provision in question will be modified so as to be rendered enforceable. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the
laws of the State of California without regard to conflict of laws principles. Any ambiguity in this Agreement will not be construed against either party as the drafter. Any waiver of a breach of this Agreement will be in writing and will not be
deemed to be a waiver of any successive breach. This Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures. 
  

			
	 Sincerely,
  

	 By:
	 	   /s/ Reginald D. Davis

		 	       Reginald D. Davis, Secretary

 I HAVE READ, UNDERSTAND AND AGREE
FULLY TO THE FOREGOING AGREEMENT: 
  

			
	   /s/ Jeff Karp

	 Jeff Karp
  

	  September 10, 2012
	 Date
	 	

 EXHIBIT A 

EMPLOYEE INVENTION ASSIGNMENT AND CONFIDENTIALITY AGREEMENT 

  

			
		 	
	CONFIDENTIAL	 	

 EMPLOYEE INVENTION ASSIGNMENT AND 

CONFIDENTIALITY AGREEMENT 

In consideration of, and as a condition of my employment with Zynga Inc., a Delaware corporation (the “Company”), I hereby
represent to, and agree with the Company as follows: 
 1. Purpose of Agreement. I understand that the
Company is engaged in a continuous program of research, development, production and marketing in connection with its business and that it is critical for the Company to preserve and protect its “Proprietary Information” (as
defined in Section 7 below), its rights in “Inventions” (as defined in Section 2 below) and in all related intellectual property rights. I acknowledge and agree that in the course of my employment with the Company,
I may gain access to certain confidential information, inventions, works of authorship, and other types of proprietary subject matter that comprise valuable, special and unique assets of the Company’s business, and that access to the foregoing
is granted to me only for the purpose of enabling me to perform my duties for the Company. I agree that the Company has an identifiable interest in protecting its rights and ownership of the foregoing, as well as all intellectual property rights
associated therewith (including, without limitation, its patents, copyrights, trademarks, and trade secrets). Accordingly, I am entering into this Employee Invention Assignment and Confidentiality Agreement (this “Agreement”)
as a condition of my employment with the Company, whether or not I am expected to create inventions of value for the Company. 

2. Disclosure of Inventions. Without further compensation, I will promptly disclose in confidence to the Company all
inventions, improvements, designs, original works of authorship, formulas, processes, compositions of matter, computer software programs, databases, mask works and trade secrets that I make or conceive or first reduce to practice or create, either
alone or jointly with others, during the period of my employment, whether or not in the course of my employment, and whether or not patentable, copyrightable or protectable as trade secrets (the “Inventions”). 

3. Work for Hire; Assignment of Inventions. I acknowledge and agree that any copyrightable works prepared by me
within the scope of my employment are “works for hire” under the Copyright Act and that the Company will be considered the author and owner of such copyrightable works. I agree that all Inventions that (i) are developed using
equipment, supplies, facilities or trade secrets of the Company, (ii) result from work performed by me for the Company, or (iii) relate to the Company’s business or actual or demonstrably anticipated research and development (the
“Assigned Inventions”), will be the sole and exclusive property of the Company. I hereby irrevocably assign, and agree to assign, the Assigned Inventions to the Company. I understand that this assignment is intended to, and
does, extend to subject matters currently in existence, those in development, as well as those which have not yet been created. Attached hereto as Exhibit A is a list describing all inventions, original works of authorship, developments and
trade secrets which were made by me prior to the date of this Agreement, which belong to me and which are not assigned to the Company (“Prior Inventions”). If no such list is attached, I agree that it is because no such Prior
Inventions exist. I acknowledge and agree that if I use any of my Prior Inventions in the scope of my employment, or include them in any product or service of the Company, I hereby grant to the Company a perpetual, irrevocable,

  

			
		 	1

 
nonexclusive, world-wide, royalty-free license to use, disclose, make, sell, copy, distribute, modify and create works based on, perform or display such Prior Inventions and to sublicense third
parties with the same rights. 
 4. Labor Code Section 2870 Notice. I have been notified and
understand that the provisions of Sections 3 and 5 of this Agreement do not apply to any Assigned Invention that qualifies fully under the provisions of Section 2870 of the California Labor Code (or any comparable law of any other State),
which states as follows: 
 ANY PROVISION IN AN EMPLOYMENT AGREEMENT WHICH PROVIDES THAT AN EMPLOYEE SHALL ASSIGN, OR
OFFER TO ASSIGN, ANY OF HIS OR HER RIGHTS IN AN INVENTION TO HIS OR HER EMPLOYER SHALL NOT APPLY TO AN INVENTION THAT THE EMPLOYEE DEVELOPED ENTIRELY ON HIS OR HER OWN TIME WITHOUT USING THE EMPLOYER’S EQUIPMENT, SUPPLIES, FACILITIES, OR TRADE
SECRET INFORMATION EXCEPT FOR THOSE INVENTIONS THAT EITHER: (1) RELATE AT THE TIME OF CONCEPTION OR REDUCTION TO PRACTICE OF THE INVENTION TO THE EMPLOYER’S BUSINESS, OR ACTUAL OR DEMONSTRABLY ANTICIPATED RESEARCH OR DEVELOPMENT OF THE
EMPLOYER; OR (2) RESULT FROM ANY WORK PERFORMED BY THE EMPLOYEE FOR THE EMPLOYER. TO THE EXTENT A PROVISION IN AN EMPLOYMENT AGREEMENT PURPORTS TO REQUIRE AN EMPLOYEE TO ASSIGN AN INVENTION OTHERWISE EXCLUDED FROM BEING REQUIRED TO BE ASSIGNED
UNDER CALIFORNIA LABOR CODE SECTION 2870(a), THE PROVISION IS AGAINST THE PUBLIC POLICY OF THIS STATE AND IS UNENFORCEABLE. 
 5. Assignment of Other Rights. In addition to the foregoing assignment of Assigned Inventions to the Company, I hereby irrevocably transfer and assign to the Company: (i) all
worldwide patents, patent applications, copyrights, mask works, trade secrets and other intellectual property rights, including but not limited to rights in databases, in any Assigned Inventions, along with any registrations of or applications to
register such rights; and (ii) any and all “Moral Rights” (as defined below) that I may have in or with respect to any Assigned Inventions. I also hereby forever waive and agree never to assert any and all Moral Rights I may have in
or with respect to any Assigned Inventions, even after termination of my work on behalf of the Company. “Moral Rights” mean any rights to claim authorship of or credit on an Assigned Inventions, to object to or prevent the
modification or destruction of any Assigned Inventions or Prior Inventions licensed to Company under Section 3, or to withdraw from circulation or control the publication or distribution of any Assigned Inventions or Prior Inventions licensed
to Company under Section 3, and any similar right, existing under judicial or statutory law of any country or subdivision thereof in the world, or under any treaty, regardless of whether or not such right is denominated or generally referred to
as a “moral right.” 

  

			
		 	2

 6. Assistance/Power to Act. I agree to assist the Company in every
proper way to obtain for the Company and enforce patents, copyrights, mask work rights, trade secret rights and other legal protections for the Company’s Assigned Inventions in any and all countries. I will execute any documents that the
Company may reasonably request for use in obtaining or enforcing such patents, copyrights, mask work rights, trade secrets and other legal protections. My obligations under this paragraph will continue beyond the termination of my employment with
the Company, provided that the Company will compensate me at a reasonable rate after such termination for time or expenses actually spent by me at the Company’s request on such assistance. I appoint the Secretary of the Company as my
attorney-in-fact to execute documents on my behalf for this purpose. 
 7. Proprietary Information. I
understand that my employment by the Company creates a relationship of confidence and trust with respect to any information of a confidential or secret nature that may be disclosed to me by the Company or a third party that relates to the business
of the Company or to the business of any parent, subsidiary, affiliate, customer or supplier of the Company or any other party with whom the Company agrees to hold information of such party in confidence (the “Proprietary
Information”), and that the Company has taken reasonable measures under the circumstances to protect from unauthorized use or disclosure. Such Proprietary Information includes, but is not limited to, Assigned Inventions, trade secrets
as well as other proprietary knowledge, information, know-how, non-public intellectual property rights including unpublished or pending patent applications and all related patent rights, manufacturing techniques, formulae, processes, discoveries,
improvements, ideas, conceptions, compilations of data, and developments, whether or not patentable and whether or not copyrightable. For example and without limitation, Proprietary Information may include information I learn about or develop in
connection with my employment with the Company, such as: (i) product/game information, features, roadmaps, plans, specifications, mechanics, designs, costs and revenue; (ii) techniques and methods for developing, coding, or improving
online social games; (iii) techniques and methods to create “virality;” (iv) measurement techniques, and specific functionality that increases monetization and both measures and increases retention metrics; (v) customer
lists and data, (vi) non-public trademarks or domain names; (vii) non-public financial information, which may include revenues, profits, margins, forecasts, budgets and other financial data; (viii) marketing and advertising plans,
strategies, tactics, budgets and studies; (ix) business and operations strategies; (x) the identities of the key decision makers at the Company’s vendors, suppliers, platform providers or other business partners; (xi) the
particular needs and preferences of the Company’s suppliers, platform providers and business partners, and the Company’s approaches and strategies for satisfying those needs and preferences; (xii) contracts, credit procedures and
terms; (xiii) research and development plans; (xiv) software developed or licensed by Company; (xv) hardware and hardware configurations; (xvi) employment and personnel information (including, without limitation, the names,
addresses, compensation, specific capabilities, job assignments and performance evaluations of Company personnel); (xvii) information regarding, or used, in employee training; (xviii) information relating to employee stock ownership or
entitlement; (xix) information relating proposed or ongoing acquisitions or takeovers by or on behalf of the Company; and (xx) other know-how. The foregoing are only examples of Confidential Information. If I am uncertain as to whether any
particular information or material constitutes Confidential Information, I shall seek written clarification from either my direct supervisor or the Company’s General Counsel, or if I am no longer employed by the Company, from the Company’s
General Counsel. 

  

			
		 	3

 8. Exceptions to Confidential Information. Notwithstanding the
definition set forth in Section 7, Proprietary Information does not include information that I can show by competent proof: (a) was generally known to the relevant public at the time of disclosure, or became generally known after
disclosure to me; (b) was lawfully received by me from a third party without breach of any confidentiality obligation; (c) was known to me prior to receipt from the Company or (d) was independently developed by me or independent third
parties; in each case, without breach by me or any third party of any obligation of confidentiality or non-use. 
 9.
Confidentiality. At all times, both during my employment and after its termination, I will keep and hold all such Proprietary Information in strict confidence and trust. I will not use, disclose, copy, reverse-engineer, distribute,
gain unauthorized access or misappropriate any Proprietary Information without the prior written consent of the Company, except as may be necessary to perform my duties as an employee of the Company for the benefit of the Company. Upon termination
of my employment with the Company, I will promptly deliver to the Company all documents and materials of any nature or form, in my possession, custody or control, pertaining to my work with the Company and, upon Company request, will execute a
document confirming my agreement to honor my responsibilities contained in this Agreement. I will not take with me or retain any documents or materials or copies thereof containing any Proprietary Information. Notwithstanding my confidentiality
obligations, I am permitted to disclose Proprietary Information that is required to be disclosed by me pursuant to judicial order or other legal mandate, provided that I have given the Company prompt notice of the disclosure requirement, and that I
fully cooperate with any efforts by the Company to obtain and comply with any protective order imposed on such disclosure. 

10. No Breach of Prior Agreement. I represent that my performance of all the terms of this Agreement and my duties
as an employee of the Company will not breach any invention assignment, proprietary information, confidentiality or similar agreement with any former employer or other party. I represent that I will not bring with me to the Company or use in the
performance of my duties for the Company any documents or materials or intangibles of a former employer or third party that are not generally available to the public or have not been legally transferred to the Company. 

11. Efforts; Duty Not to Compete. I understand that my employment with the Company requires my undivided attention
and effort. As a result, during my employment, I will not, without the Company’s express written consent, engage in any other employment or business that (i) directly competes with the current or future business of the Company;
(ii) uses any Company information, equipment, supplies, facilities or materials; or (iii) otherwise conflicts with the Company’s business interest and causes a disruption of its operations. 

12. Notification. I hereby authorize the Company to notify third parties, including, without limitation, customers
and actual or potential employers, of the terms of this Agreement and my responsibilities hereunder. 
 13.
Non-Solicitation of Employees/Consultants. During my employment with the Company and for a period of one (1) year thereafter, I will not directly or indirectly solicit away employees or consultants of the Company for my own
benefit or for the benefit of any other person or entity. 

  

			
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 14. Non-Solicitation of Suppliers/Customers. During and after the
termination of my employment with the Company, I will not directly or indirectly solicit or otherwise take away customers or suppliers of the Company if, in so doing, I access, use or disclose any trade secrets or proprietary or confidential
information of the Company. I acknowledge and agree that the names and addresses of the Company’s customers and suppliers, and all other confidential information related to them, including their buying and selling habits and special needs,
whether created or obtained by, or disclosed to me during my employment, constitute trade secrets or proprietary or confidential information of the Company. 
 15. Name & Likeness Rights. I hereby authorize the Company to use, reuse, and to grant others the right to use and reuse, my name, photograph, likeness (including
caricature), voice, and biographical information, and any reproduction or simulation thereof, in any form of media or technology now known or hereafter developed (including, but not limited to, film, video and digital or other electronic media),
both during and after my employment, for any purposes related to the Company’s business, such as marketing, advertising, credits, and presentations. 
 16. Injunctive Relief. I understand that in the event of a breach or threatened breach of this Agreement by me the Company may suffer irreparable harm and will therefore be entitled
to injunctive relief to enforce this Agreement. 
 17. Governing Law; Severability. This Agreement will be
governed by and construed in accordance with the laws of the State of California, without giving effect to its laws pertaining to conflict of laws. If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction
to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from
this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement. 

18. Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and
delivered will be deemed an original, and all of which together shall constitute one and the same agreement. 
 19.
Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede all prior understandings and
agreements, whether oral or written, between or among the parties hereto with respect to the specific subject matter hereof. 

20. Amendment and Waivers. This Agreement may be amended only by a written agreement executed by each of the parties
hereto. No amendment of or waiver of, or modification of any obligation under this Agreement will be enforceable unless set forth in a writing signed by the party against which enforcement is sought. Any amendment effected in accordance with this
section will be binding upon all parties hereto and each of their respective successors and assigns. No delay or failure to require performance of any provision of this Agreement shall constitute a waiver of that provision as to that or any other
instance. No waiver granted under this Agreement as to any one provision herein shall constitute a subsequent waiver of such provision or of any other provision herein, nor shall it constitute the waiver of any performance other than the actual
performance specifically waived. 

  

			
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 21. Successors and Assigns; Assignment. Except as otherwise provided in
this Agreement, this Agreement, and the rights and obligations of the parties hereunder, will be binding upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company
may assign any of its rights and obligations under this Agreement. No other party to this Agreement may assign, whether voluntarily or by operation of law, any of its rights and obligations under this Agreement, except with the prior written consent
of the Company. 
 22. Further Assurances. The parties agree to execute such further documents and
instruments and to take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement. 
 23. “At Will” Employment. I understand that this Agreement does not constitute a contract of employment or obligate the Company to employ me for any stated period of time. I
understand that I am an “at will” employee of the Company and that my employment can be terminated at any time, with or without notice and with or without cause, for any reason or for no reason, by either the Company or myself. I
acknowledge that any statements or representations to the contrary are ineffective, unless put into a writing signed by the Company. I further acknowledge that my participation in any stock option or benefit program is not to be construed as any
assurance of continuing employment for any particular period of time. This Agreement shall be effective as of the first day of my employment by the Company, which is 7/25/2011 . 

 

							
	 Zynga
	 		 	Inc.:	 	Employee:
				
	By:	 	     /s/ Dan Feldstein
	 		 	         /s/ Jeff Karp

		 		 		 	Signature
				
	Name:	 	 Dan Feldstein
	 		 	         Jeff Karp

		 		 		 	Name (Please Print)
				
	Title:	 	 Senior Employment Counsel
	 		 	 Chief Marketing and Revenue Officer

 Signature Page to Employee Invention Assignment and Confidentiality Agreement 

  

			
		 	6

 EXHIBIT A 

LIST OF PRIOR INVENTIONS 
  

					
	 Title
	  	Date	  	Identifying Number
of Brief Description
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

  

			
	    X     No inventions or improvements
	
	Signature of Employee:
	
	             /s/ Jeff
Karp

	
	Print Name of Employee:
	
	             Jeff
Karp

	
	Date: November 17, 2011Sonic Corp. Stock Purchase Plan

 EXHIBIT 10.07 
 SONIC CORP. STOCK PURCHASE PLAN 
 (AMENDED AND RESTATED EFFECTIVE APRIL
20, 2011) 
 1. Purpose. This Sonic Corp. Stock Purchase Plan (“Plan”) is intended to
encourage stock ownership by all employees of Sonic Corp. (“Company”) and its affiliates so that they may acquire a proprietary interest in the growth and success of the Company, and to encourage them to remain in the employ of the Company
and its affiliates. 
 2. Definitions: 

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

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

“Company” means Sonic Corp. 

“Compensation” means your regular base salary during the period of your participation in this Plan. Your
Compensation for purposes of this Plan does not include bonuses, reimbursement payments and other expense allowances, fringe benefits, deferred compensation, welfare benefits, gains from the exercise of stock options, retirement compensation, and
any other amounts that receive special tax benefits under the Internal Revenue Code, such as premiums for group life insurance. Compensation for purposes of this Plan means your base salary prior to deductions for the Company’s elective
contribution plans in which you may participate, i.e., the Sonic Corp. Savings and Profit Sharing Plan and the Sonic Corp Flexible Benefits Plan. 
 “Fair Market Value” means: 
 (a) If the common
stock is listed upon an established stock exchange or exchanges, Fair Market Value shall be determined in accordance with the rules set forth under Treasury Regulation § 1.423-2(g). For example, the Fair Market Value may be deemed to be the
mean between the highest and lowest quoted selling price of a share of common stock. 
 (b) If the common stock
is not listed on such an exchange, Fair Market Value shall be determined by the Committee using a reasonable valuation method taking into account all relevant facts and circumstances. 

“Offering Period” means each month starting on the first day of the month and ending on the last
business day of such month. 

 “Participant” means an employee who has met the eligibility
requirements of Section 4 and enrolled in this Plan pursuant to Section 6 hereof. 
 “Plan
Year” means the calendar year. 
 “Purchase Date” means the last business day of each
month. 
 “Subsidiary” means any corporation, domestic or foreign, of which the Company owns,
directly or indirectly, not less than fifty percent (50%) of the total combined voting power of all classes of stock or other equity interests and that otherwise qualifies as a subsidiary corporation within the meaning of Section 424(f) of
the Internal Revenue Code of 1986, as amended (“Code”) or any successor thereto. 
 3.
Administration of this Plan. This Plan shall be administered by the Committee which consists of not less than three persons, who are directors of the Company, and who are appointed by the Board to serve at the pleasure of the Board. Except as
otherwise expressly provided in this Plan, the Committee shall have sole and final authority and discretion to interpret the provisions of this Plan and to promulgate and interpret such rules and regulations relating to this Plan and make all
determinations in connection therewith as it may deem necessary or desirable for the administration of this Plan. The Committee may correct any defect in this Plan in the manner and to the extent it shall deem expedient to carry this Plan into
effect and shall be the sole and final judge of such expediency. To assist in the administration of this Plan, the Committee may from time to time appoint certain persons to perform functions on its behalf. 

By way of example, and not limitation, the Committee shall have the following powers: 

(a) To exercise discretion regarding the terms and conditions of Offering Periods and purchases made in connection
therewith, as permitted under this Plan; 
 (b) To designate, from time to time, which Subsidiaries of the
Company shall be eligible to participate in this Plan; 
 (c) To construe and interpret this Plan and to
establish, amend and revoke rules and regulations for the orderly administration of this Plan, and to correct any defect, omission or inconsistency in this Plan, in a manner and to the extent it shall deem necessary or expedient to make this Plan
fully effective and consistent with its intended purposes; 
 (d) To exercise such powers and to perform such
acts as it deems necessary or expedient to promote the best interests of the Company and its Subsidiaries and to carry out the intent that this Plan be treated as an employee stock purchase plan that meets all of the requirements of Code
Section 423; and 
 (e) To take any other actions, which may include modification of the terms and
conditions of this Plan or of any Offering Period, that the Committee deems to be 

  
 2 

 
necessary or appropriate in light of any and all facts and circumstances as the Committee, acting in good faith, determines to be relevant to this Plan, the Company and the intended purpose of
this Plan, except to the extent that such action or actions are expressly prohibited by or directly conflict with express terms of this Plan. 
 No member of the Committee shall be liable for any action taken or omitted or any determination made by him or her in good faith relating to this Plan, and the Company shall indemnify and hold harmless
each member of the Committee and each other director or employee of the Company to whom any duty or power relating to the administration or interpretation of this Plan has been delegated against any cost or expense (including counsel fees) or
liability (including any sum paid in settlement of a claim with the approval of the Committee) arising out of any act or omission in connection with this Plan, unless arising out of such person’s own fraud or bad faith. 

4. Eligibility. All employees of the Company and its Subsidiaries who: 

(a) have completed ninety (90) days or more of continuous service with the Company or one of its
Subsidiaries; 
 (b) customarily work more than twenty (20) hours per week; and 

(c) customarily work for more than five (5) months during any calendar year 

will be eligible to participate in this Plan, in accordance with such rules as may be prescribed from time to time by the Committee,
which rules, however, shall neither permit nor deny participation in this Plan contrary to the requirements of the Code and the regulations promulgated thereunder. An employee who has satisfied the eligibility requirements of this Section 4
shall be eligible to enter this Plan and begin payroll deductions (in accordance with Section 6 below) as of the first day of the Offering Period following satisfaction of these eligibility requirements. 

Notwithstanding the foregoing, no employee may participate in this Plan if such employee owns or holds outstanding
options to purchase stock representing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or any Subsidiary. The rules of Section 424(d) of the Code shall apply in determining the
stock ownership of any employee, and stock which the employee may purchase under outstanding options shall be treated as stock owned by the Participant. 
 5. Stock Available. The stock subject to this Plan is the $.01 par value common stock of the Company. The aggregate number of shares of common stock which can be purchased under this Plan is
1,139,062. Purchases will commence within thirty (30) days after the date of registration of this Plan with the Securities and Exchange Commission if Company counsel deems such registration to be required. If such registration is not deemed to
be required, purchases will commence as soon as practicable upon adoption of this Plan. If Company counsel deems stockholder approval of this Plan 

  
 3 

 
to be required, such approval shall be obtained within twelve (12) months of adoption of this Plan. 
 6. Participation. An eligible employee may participate in this Plan at any time by completing and forwarding a payroll deduction authorization form to the Participant’s appropriate payroll
location. The payroll deduction authorization form will authorize a regular payroll deduction from the Participant’s Compensation, and must specify the date on which such deduction is to commence, provided such date may not be retroactive, and
further provided that receipt of such payroll deduction authorization by the Participant’s appropriate payroll location must precede the next Offering Period by fifteen (15) days. 

7. Accounts. The Company will maintain payroll deduction accounts for all Participants. A Participant may
authorize an after-tax payroll deduction in terms of whole number percentages subject to a minimum percentage of one percent (1%) and a maximum of ten percent (10%) of the Compensation he or she receives during the payroll period (or
during such portion thereof as the Participant may elect to participate). 
 Payroll deductions under this Plan
shall not accrue at a rate that would enable the Participant to purchase under this Plan (and any other stock purchase plan of the Company or any Subsidiary) having a Fair Market Value greater than $25,000 (determined as of the date the option to
purchase common stock is granted in accordance with Section 423(b)(8) of the Code) in any calendar year. The Committee, however, may establish a payroll deduction maximum amount at a level less than $25,000. A Participant may increase or
decrease the Participant’s payroll deduction by filing a new payroll deduction authorization form with the Company. The change will not become effective until, the next pay period after receipt by the Company of the new payroll deduction
authorization form. A payroll deduction may be increased or decreased only once every six months. 
 8.
Interest. Under no circumstances will any interest be credited to any Participant’s account regardless of whether the funds therein are used to exercise options or are withdrawn. 

9. Withdrawal of Stock. A Participant may, for any reason, permanently draw out the stock accumulated in the
Participant’s account at any time, but only once per calendar quarter. 
 10. Granting of Options.
Each Participant will automatically be granted an option on the Purchase Date to purchase as many whole and fractional shares of the Company’s common stock as can be purchased with the amounts then credited to his or her account based on the
option price determined on that Purchase Date (pursuant to Section 12 hereof), subject to such limitations as are imposed on such purchases under this Plan or by rules or regulations established by the Committee with respect to such Offering
Period, and such option shall then automatically be exercised as set forth in Section 11, below. 

  
 4 

 11. Exercise of Option. 

(a) Subject to the limitations described in the remainder of this Section 11, a Participant will be deemed to have
exercised on a Purchase Date such Participant’s option to purchase a number of whole and/or fractional shares determined by dividing the amount then credited to that Participant’s account by the purchase price applicable to that Offering
Period. On such Purchase Date, each Participant’s account will be debited by the amount of the purchase. 

(b) In the event the aggregate number of shares that would be purchased on a Purchase Date by all Participants, as
determined under Section 11(a) would exceed the number of shares available for purchases under this Plan, the number of shares with respect to which each Participant will be deemed to have exercised options will be reduced on a prorated basis
so that the total number of shares for which all Participants will be deemed to have exercised options will approximate, as closely as possible, but ill not exceed, the number of shares then available for purchase under this Plan. Any amounts
remaining as a credit to the account of each Participant shall be distributed as soon as practicable after such Purchase Date. 
 (c) Participation or failure to participate in an Offering Period will not bar a Participant from participating in any subsequent Offering Period. Payroll deductions will be made to the extent authorized
by the Participant, subject to the maximum and minimum limitations imposed by this Plan. Except as provided above with regard to the Purchase Date as of which all shares available for purchase under this Plan have been used, any unused balance in a
Participant’s account at a Purchase Date after the exercise of options (as a result of any other limitation on such exercise) will remain in that Participant’s account and will become the Participant’s beginning balance for the next
Offering Period. 
 12. Purchase and Payment. On each Purchase Date, or as soon thereafter as
practicable, the account of each Participant shall be totaled and the Participant shall be deemed without any further action to have been granted and to have exercised an option to purchase such fractional share and/or whole shares at the price
described below. As provided under Section 22, at the sole discretion of the Committee, purchases of shares (including fractional shares) of common stock under this Plan may be satisfied from authorized, but unissued, shares of common stock or
reacquired shares of common stock, including shares of common stock purchased at the direction of the Company on the open market. 
 Unless the Participant otherwise directs, all dividends paid with respect to the shares (or fraction thereof) of the Company’s common stock in a Participant’s account shall be applied to the
purchase of shares (or fraction thereof) of the Company’s common stock and shares (or fractions thereof) so purchased shall be added to the shares held in such Participant’s account. 

Subsequent shares of common stock will be purchased in the same manner, whenever sufficient funds have again accrued in
the Participant’s account. The purchase 

  
 5 

 
price for each share (or fraction thereof) purchased will be not less than eighty-five percent (85%) of the Fair Market Value on the Purchase Date. In the event the purchase of shares is
satisfied through open market acquisitions, the Company shall make a contribution on behalf of each Participant equal to the difference between the Fair Market Value of a share of common stock and the purchase price under this Plan for the share
multiplied by the total number of shares of common stock purchased for the account of the Participants. 
 13.
Stock Certificates. Shares purchased hereunder shall not be certificated but instead will be registered in the name of a broker (the “Nominee”) as custodian for the Participants and stock certificates will only be issued to
Participants in accordance with Section 12 or upon the Participant’s sale, transfer, request for certification or withdrawal from this Plan for any reason. Certificates may be registered only in the name of the Participant, or if the
Participant so indicates on his or her payroll deduction authorization form, in the Participant’s name jointly with a member of his or her family, with right of survivorship. A Participant who is a resident of a jurisdiction which does not
recognize such a joint tenancy with right of survivorship may have certificates registered in the Participant’s name as tenant in common with a member of his or her family, without right of survivorship. 

14. Rights as a Stockholder. None of the rights or privileges of a stockholder of the Company shall exist with
respect to shares purchased under this Plan unless and until certificates representing such whole shares shall have been issued to the Participant’s account. 

15. Rights on Retirement, Death, Termination of Employment, or Termination of this Plan. In the event of a
Participant’s retirement, death, other termination of employment, or upon termination of this Plan, no payroll deduction shall be taken from any Compensation due and owing to the Participant at such time and the balance in the
Participant’s account shall be paid to the Participant or, in the event of the Participant’s death, to the Participant’s estate. Whether an authorized leave of absence, including absence for military or governmental service, shall
constitute termination of employment, shall be determined by the Committee. 
 16. Distribution or Sale of
Common Stock. If a Participant terminates his or her employment with the Company or otherwise ceases to be a Participant for purposes of this Plan, the Participant shall receive a distribution of his or her common stock held in the
Participant’s account. A Participant whose employment with the Company terminates must receive a distribution of his or her common stock on or before ninety (90) days from his or her employment termination date. 

17. Rights not Transferable. Rights granted under this Plan are not transferable by a Participant other than by
will or the laws of decent and distribution, and such rights are exercisable during the Participant’s lifetime only by the Participant to whom granted. 

  
 6 

 18. Adjustment Upon Changes in Common Stock. If the common stock of
the Company shall be subdivided or combined, whether by reclassification, stock dividend, stock split, reverse stock split or other similar transaction, then the number of shares subject to purchase under this Plan shall be adjusted proportionately.
A stock dividend shall be treated as a subdivision of the whole number of shares outstanding immediately prior to such dividend into a number of shares equal to such whole number of shares so outstanding plus the number of shares issued as a stock
dividend. 
 19. Amendment of this Plan. The Board or the Committee may, at any time, or from time to
time, amend this Plan in any respect, except that, without the approval of the holders of a majority of the shares of common stock of the Company then issued and outstanding and entitled to vote, no amendment shall be made increasing or decreasing
the number of shares approved for this Plan (other than as provided in Section 19). 
 20. Suspension of
this Plan. This Plan and all rights of Participants hereunder shall be suspended when accumulated Compensation deductions of Participants are sufficient to purchase a number of shares equal to or greater than the number of shares remaining
available for purchase. If the number of shares so purchasable is greater than the shares remaining available, the available shares shall be allocated by the Committee among such Participants in such manner as it deems equitable. 

21. Use of Funds. All Compensation deductions received or held by the Company under this Plan may be used by the
Company for any corporate purpose, and the Company will not be obligated to segregate any Compensation deducted. The Compensation deducted will not be funded or held in trust. 

22. Termination of this Plan. 

(a) This Plan and all rights of Participants hereunder shall terminate at the discretion of the Board. 

(b) If this Plan is terminated by the Board prior to the scheduled end of any Offering Period, the Committee may, in its
discretion, either: (i) cause all amounts then held in Participant accounts to be distributed to Participants; or (ii) designate a special Purchase Date on which all amounts then held in Participant accounts will be applied to one final
purchase under this Plan in accordance with Section 12. 
 23. Governmental Regulations. The
Company’s obligation to sell and deliver its common stock under this Plan is subject to the approval of any governmental authority required in connection with the authorization, issuance, or sale of such stock. 

24. Shares Used to Fund Plan. The Company may utilize authorized unissued or treasury shares to fund this Plan.
Purchases of outstanding shares may also be made pursuant to and on behalf of this Plan, upon such terms as the Company may approve, for delivery under this Plan. 

25. No Employment Rights. This Plan does not, directly or indirectly, create in any Participant or class of
employees any right with respect to continuation of 

  
 7 

 
employment by the Company and will not interfere in any way with the Company’s right to terminate or otherwise modify the terms of a Participant’s employment at any time. 

26. Qualified Plan. This Plan is intended to qualify as an employee stock purchase plan as defined in
Section 423 of the Code. 

  
 8

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