Document:

Exhibit 10.2

  

SECOND
AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This Second Amended and Restated
Employment Agreement (this “Agreement”) is made as of September 7, 2022 (the “Effective Date”)
by and between Voyager Therapeutics, Inc. (the “Company”) and Todd Carter, Ph.D. (the “Executive”).

 

WHEREAS, the
Company and the Executive are parties to a certain Amended and Restated Employment Agreement dated March 14, 2022 (the “Original
Agreement”); and

 

WHEREAS, the
Company and the Executive desire that this Agreement shall amend, supersede, and control over the Original Agreement as of the Effective
Date.

 

NOW, THEREFORE,
in consideration of the covenants and obligations set forth below, and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties agree as follows:

 

1.            Employment.
The Company and the Executive acknowledge and agree that: (a) the Executive has been employed by the Company since June 13,
2016, (b) the Executive was promoted to, and his title modified to, the position of Vice President of Research as of November 29,
2018, (c) the Executive was promoted to, and his title modified to, the position of Senior Vice President of Research as of March 14,
2022, and (d) the Executive will be promoted to, and his title modified to, the position of Chief Scientific Officer as of September 19,
2022. Commencing on the Effective Date, the employment relationship between the Company and the Executive shall be governed by this Agreement
until terminated by either party in accordance with this Agreement. At all times, the Executive’s employment with the Company will
be “at-will,” meaning that the Executive’s employment may be terminated by the Company or the Executive at any time
and for any reason, subject to the terms of this Agreement.

 

2.            Position,
Reporting and Duties.  The Company and Executive acknowledge and agree that: (a) commencing
on the November 29, 2018, the Executive served as the Vice President of Research of the Company, reporting to the Company’s
Chief Scientific Officer; (b) commencing on August 20, 2021, the Executive served as Vice President of Research, reporting to
the Company’s Chief Scientific Officer; (c) commencing on March 14, 2022, the Executive served as Senior Vice President
of Research, reporting to the Company’s Chief Scientific Officer, and (d) commencing on September 19, 2022, the Executive
will serve as Chief Scientific Officer, reporting to the Company’s President and Chief Executive Officer (“CEO”).
The Executive shall devote the Executive’s full working time and efforts to the business and affairs of the Company and shall not
engage in any other business activities without the prior written approval of the CEO and provided that such activities do not create
a conflict of interest or otherwise interfere with the Executive’s performance of the Executive’s duties to the Company. The
Executive’s normal place of work will be Cambridge, MA. It is understood and agreed that the Executive will generally be on site
in Cambridge, unless the Executive is traveling on behalf of the Company.

 

3.            Compensation
and Related Matters.

 

(a)            Base
Salary. As of September 19, 2022, the Executive’s annual base salary is $410,000, which is subject to review and redetermination
by the Company from time to time. The annual base salary in effect at any given time is referred to herein as “Base Salary.”
The Base Salary will be payable in a manner that is consistent with the Company’s usual payroll practices for senior executives.
The Executive shall be eligible to participate in the annual salary review for the 2023 fiscal year and in the annual salary review for
each subsequent year thereafter.

     

     

    

 

(b)            Bonus.
The Executive is eligible to participate in the Company’s Senior Executive Cash Incentive Bonus Plan (the “Incentive Bonus
Plan”), as approved by the Company’s Board of Directors, its Compensation Committee or any other committee of the Board
(collectively, the “Board”). The terms of the Incentive Bonus Plan shall be established and may be altered by the Board
in its sole discretion. For calendar year 2022, the Executive's target bonus under the Incentive Bonus Plan shall be forty percent (40%)
of the Executive's Base Salary. To earn any bonus, the Executive must be employed by the Company on the day such bonus is paid, except
as provided to the contrary in either Section 6 or 7 below, because such bonus serves as an incentive for the Executive to remain
employed with the Company. Both parties acknowledge and agree that any bonus is not intended and shall not be deemed a “wage”
under any state or federal wage-hour law.

 

(c)            Equity.

 

(i)            Vice
President Promotion Award. In connection with the Executive’s promotion to Vice President of Research of the Company on November 29,
2018, and as a material inducement to the Executive’s continuing employment with the Company, the Executive was granted an option
(the “VP Option Award”) to purchase 15,000 shares of the Company’s common stock (the “Common Stock”)
pursuant to and in accordance with the Company’s 2015 Stock Option and Incentive Plan (the “Plan”). The VP Option
Award was granted as of November 29, 2018 (the “VP Option Grant Date”). The shares underlying the VP Option Award
(the “VP Option Shares”) have an exercise price per share equal to the closing price of the Common Stock on The Nasdaq
Global Select Market on the VP Option Grant Date. The VP Option Shares have vested and become exercisable, or will vest and become exercisable,
subject to the Executive’s continued service on each applicable vesting date, as follows: 2.0833% of the VP Option Shares to vest
on the one-month anniversary of the VP Option Grant Date, and an additional 2.0833% of the VP Option Shares to vest on a monthly basis
at the end of each one-month period following the one-month anniversary of the VP Option Grant Date until the four-year anniversary of
the VP Option Grant Date.

 

(ii)            Senior
Vice President Promotion Award. In connection with the Executive’s promotion to Senior Vice President of Research of the Company
on March 14, 2022, and as a material inducement to the Executive’s continuing employment with the Company, the Executive was
granted an option (the “SVP Option Award”) to purchase 30,000 shares of the Common Stock pursuant to and in accordance
with the Plan. The SVP Option Award was granted as of March 14, 2022 (the “SVP Option Grant Date”). The shares
underlying the SVP Option Award (the “SVP Option Shares”) have an exercise price per share equal to the closing price
of the Common Stock on The Nasdaq Global Select Market on the SVP Option Grant Date. The SVP Option Shares will vest and become exercisable,
subject to the Executive’s continued service on each applicable vesting date, as follows: 2.0833% of the SVP Option Shares to vest
on the one-month anniversary of the SVP Option Grant Date, and an additional 2.0833% of the SVP Option Shares to vest on a monthly basis
at the end of each one-month period following the one-month anniversary of the SVP Option Grant Date until the four-year anniversary of
the SVP Option Grant Date.

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(iii)            Chief
Scientific Officer Promotion Award. In connection with the Executive’s promotion to Chief Scientific Officer of the Company
on September 19, 2022, and as a material inducement to the Executive’s continuing employment with the Company, the Executive
will be granted an option (the “CSO Option Award”) to purchase 165,000 shares of the Common Stock pursuant to and in
accordance with the Plan. The CSO Option Award will be granted as of September 19, 2022 (the “CSO Option Grant Date”).
The shares underlying the CSO Option Award (the “CSO Option Shares”) will have an exercise price per share equal to
the closing price of the Common Stock on The Nasdaq Global Select Market on the CSO Option Grant Date. The CSO Option Shares will vest
and become exercisable, subject to the Executive’s continued service on each applicable vesting date, as follows: 2.0833% of the
CSO Option Shares to vest on the one-month anniversary of the CSO Option Grant Date, and an additional 2.0833% of the CSO Option Shares
to vest on a monthly basis at the end of each one-month period following the one-month anniversary of the CSO Option Grant Date until
the four-year anniversary of the CSO Option Grant Date.

 

The
VP Option Award, the SVP Option Award, and the CSO Option Award will be subject to and governed by the terms and conditions of the Plan
and the applicable equity award agreements between the Executive and the Company (collectively, the “Equity Documents”).

 

(d)            Employee
Benefits. The Executive shall be entitled to full participation in the Company’s flexible vacation plan each calendar year and
to such other holidays as the Company recognizes for employees having comparable responsibilities and duties. The Executive will be entitled
to participate in the Company’s employee benefit plans, subject to the terms and the conditions of such plans, and the Company’s
ability to amend and modify such plans at any time and from time to time without advance notice.

 

(e)            Reimbursement
of Business Expenses. The Company shall reimburse the Executive for travel, entertainment, business development and other expenses
reasonably and necessarily incurred by the Executive in connection with the Company’s business. Expense reimbursement shall be subject
to such policies that the Company may adopt from time to time, including with respect to pre-approval.

 

4.            Certain
Definitions.

 

(a)            “Cause”
means (A) the commission by the Executive of (i) any felony; or (ii) a misdemeanor involving moral turpitude, deceit, dishonesty
or fraud; or (B) a good faith finding by the Company of: (i) conduct by the Executive constituting a material act of misconduct
in connection with the performance of the Executive’s duties, including, without limitation, misappropriation of funds or property
of the Company or any of its subsidiaries or affiliates other than the occasional, customary and de minimis use of Company property for
personal purposes; (ii) any conduct by the Executive that would reasonably be expected to result in material injury or reputational
harm to the Company or any of its subsidiaries and affiliates if the Executive were retained in the Executive’s position but, provided
that the Company reasonably determines that such conduct is capable of being cured, only after receipt of written notice by the Company
reasonably describing such conduct and if the Executive fails to cease and cure such conduct within fifteen (15) days of receipt of said
written notice; (iii) continued non-performance by the Executive of the Executive’s responsibilities hereunder (other than
by reason of the Executive’s physical or mental illness, incapacity or disability) but, provided that the Company reasonably determines
that such conduct is capable of being cured, only after receipt of written notice by the Company reasonably describing such non-performance
and the Executive’s failure to cure such non-performance within fifteen (15) days of receipt of said written notice; (iv) a
breach by the Executive of any confidentiality or restrictive covenant obligations to the Company, including under the Confidentiality,
Non-Solicitation, Non-Competition and Invention Assignment Agreement attached hereto as Exhibit A (the “Confidentiality
Agreement”); (v) a material violation by the Executive of any of the Company’s written employment policies communicated
to the Executive; or (vi) failure to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement
authorities as provided under Section 13 of this Agreement, after being instructed by the Company to cooperate, or the willful destruction
or failure to preserve documents or other materials known to be relevant to such investigation or the inducement of others to fail to
cooperate or to produce documents or other materials in connection with such investigation.

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(b)            “Disabled”
or “Disability” means the Executive is unable to perform the essential functions of the Executive’s then existing
position or positions under this Agreement with or without reasonable accommodation for a period of one hundred and eighty (180) days
(which days need not be consecutive) in any twelve (12) month period. If any question shall arise as to whether during any period the
Executive is disabled so as to be unable to perform the essential functions of the Executive’s then existing position or positions
with or without reasonable accommodation, the Executive may, and at the request of the Company shall, submit to the Company a certification
in reasonable detail by a physician selected by the Company to whom the Executive or the Executive’s guardian has no reasonable
objection as to whether the Executive is so disabled or how long such Disability is expected to continue, and such certification shall
for the purposes of this Agreement be conclusive of the issue. The Executive shall cooperate with any reasonable request of the physician
in connection with such certification. If such question shall arise and the Executive shall fail to submit such certification, the Company’s
determination of such issue shall be binding on the Executive. Nothing in this Section 4(b) shall be construed to waive the
Executive’s rights, if any, under existing law including, without limitation, the Family and Medical Leave Act of 1993, 29 U.S.C.
 §2601 et seq., and the Americans with Disabilities Act, 42 U.S.C. §12101 et seq.

 

(c)            “Good
Reason” means that the Executive has complied with the “Good Reason Process” (hereinafter defined) following the
occurrence of any of the following events without the Executive’s consent: (A) a material diminution in the Executive’s
responsibilities, authority or duties; (B) a material diminution in the Executive’s Base Salary except for a reduction of the
Executive’s Base Salary that is part of an across-the-board salary reduction applied to substantially all senior management employees
that is caused by the Company’s financial performance and is similar to and proportionately not greater than the reductions affecting
all or substantially all senior management employees of the Company; (C) the relocation of the Executive’s principal place
of business more than fifty (50) miles other than in a direction that reduces the Executive’s daily commuting distance; or (D) the
material breach by the Company of this Agreement or any other agreements between the Executive and the Company relating to Equity Awards.
 “Good Reason Process” means that (i) the Executive reasonably determines in good faith that a “Good Reason”
condition has occurred; (ii) the Executive notifies the Company in writing of the first occurrence of the Good Reason condition within
sixty (60) days of the first occurrence of such condition; (iii) the Executive cooperates in good faith with the Company’s
efforts for thirty (30) days following such notice (the “Cure Period”) to remedy the condition; (iv) notwithstanding
such efforts, at least one Good Reason condition continues to exist; and (v) the Executive terminates the Executive’s employment
within sixty (60) days after the end of the Cure Period. If the Company cures the Good Reason condition during the Cure Period, Good Reason
shall be deemed not to have occurred. The Company’s success at curing a Good Reason condition shall not bar or preclude the Executive’s
right to notify the Company of the occurrence of another Good Reason condition and to proceed with the Good Reason Process.

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(d)            “Sale
Event” means the consummation of (i) the sale of all or substantially all of the assets of the Company on a consolidated
basis to an unrelated person or entity, (ii) a merger, reorganization or consolidation pursuant to which the holders of the Company’s
outstanding voting power immediately prior to such transaction do not own a majority of the outstanding voting power of the surviving
or resulting entity (or its ultimate parent, if applicable), (iii) the acquisition, directly or indirectly, of all or a majority
of the outstanding voting stock of the Company in a single transaction or a series of related transactions by a Person or group of Persons,
(iv) a Deemed Liquidation Event (as defined in the Company’s Certificate of Incorporation (as may be amended, restated or otherwise
modified from time to time)), or (v) any other acquisition of the business of the Company, as determined by the Board. Notwithstanding
the foregoing, a “Sale Event” shall not be deemed to have occurred as a result of (a) a merger effected solely to change
the Company’s domicile, and (b) an acquisition of shares of Company common stock by the Company which, by reducing the number
of shares outstanding, increases the proportionate number of shares beneficially owned by any person to a majority of the outstanding
shares of common stock of the Company; provided, however, that if any person referred to in this clause (b) shall thereafter become
the beneficial owner of any additional shares (other than pursuant to a stock split, stock dividend, or similar transaction or as a result
of an acquisition of shares directly from the Company) and immediately thereafter beneficially owns a majority of the then outstanding
shares, then a “Sale Event” shall be deemed to have occurred for purposes of this clause (b). Notwithstanding the foregoing,
where required to avoid extra taxation under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”),
a Sale Event must also satisfy the requirements of Treas. Reg. Section 1.409A-3(a)(5).

 

(e)            “Sale
Event Period” means the period ending twelve (12) months following the consummation of a Sale Event.

 

(f)            “Terminating
Event” means termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason.
A Terminating Event does not include: (i) the termination of the Executive’s employment due to the Executive’s death
or a determination that the Executive is Disabled; (ii) the Executive’s resignation for any reason other than Good Reason,
or (iii) the Company’s termination of the Executive’s employment for Cause.

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5.            Compensation
in Connection with a Termination for any Reason. If the Executive’s employment with
the Company is terminated for any reason, the Company shall pay or provide to the Executive (or to the Executive’s authorized representative
or estate) any earned but unpaid Base Salary, unpaid expense reimbursements, and vested employee benefits.

 

6.            Severance
and Accelerated Vesting if a Terminating Event Occurs within the Sale Event Period. In the
event a Terminating Event occurs within the Sale Event Period, subject to the Executive signing and complying with a separation agreement
in a form and manner satisfactory to the Company containing, among other provisions, a general release of claims in favor of the Company
and related persons and entities, covenants to return Company property and to not disparage the Company, a reaffirmation of the Confidentiality
Agreement and a twelve (12) month post-employment non-competition restriction with a scope of prohibited competitive activity no greater
than that described in the Confidentiality Agreement (the “Separation Agreement and Release”), and the Separation Agreement
and Release becoming irrevocable, all within sixty (60) days after the Date of Termination or by an earlier date as determined by the
Company, the following shall occur:

 

(a)            the
Company shall pay to the Executive an amount equal to twelve (12) months of the Executive’s Base Salary in effect immediately prior
to the Terminating Event (or the Executive’s Base Salary in effect immediately prior to the Sale Event, if higher), determined in
each case immediately before any event that constitutes Good Reason (if applicable);

 

(b)            the
Company shall pay to the Executive a pro-rated portion of the annual bonus target for the current year based on the Date of Termination;

 

(c)            if
the Executive timely elects and is eligible to continue receiving group health insurance pursuant to the “COBRA” law, the
Company will, until the earlier of (x) the date that is twelve (12) months following the Date of Termination, and (y) the date
on which the Executive obtains alternative coverage (as applicable, the “Sale Event COBRA Contribution Period”), continue
to pay the share of the premiums for such coverage to the same extent it was paying such premiums on the Executive’s behalf immediately
prior to the Date of Termination. The remaining balance of any premium costs during the Sale Event COBRA Contribution Period, and all
premium costs thereafter, shall be paid by the Executive monthly for as long as, and to the extent that, the Executive remains eligible
for COBRA continuation. The Executive agrees that, should the Executive obtain alternative medical and/or dental insurance coverage prior
to the date that is twelve (12) months following the Date of Termination, the Executive will so inform the Company in writing within five
(5) business days of obtaining such coverage. Notwithstanding anything to the contrary herein, in the event that the Company’s
payment of the amounts described in Section 6(c) would subject the Company to any tax or penalty under the Patient Protection
and Affordable Care Act (as amended from time to time, the “ACA”) or Section 105(h) of the Internal Revenue
Code of 1986, as amended (“Section 105(h)”), or applicable regulations or guidance issued under the ACA or Section 105(h),
the Executive and the Company agree to work together in good faith to restructure such benefit.

 

(d)            One
hundred percent (100%) of all equity awards held by the Executive shall immediately accelerate and become fully exercisable or nonforfeitable
as of the Date of Termination and the provisions of this Section 6(d) shall be deemed to be incorporated by reference into the
agreements governing all such awards.

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For avoidance of doubt, the
Separation Agreement and Release for purposes of this Agreement shall not require a waiver of any rights under the indemnification agreement
between the Company and the Executive or any rights described in Section 5 above. Notwithstanding the foregoing, if the Executive’s
employment is terminated in connection with a Sale Event and the Executive immediately becomes reemployed by any direct or indirect successor
to the business or assets of the Company, the termination of the Executive’s employment upon the Sale Event shall not be considered
a termination without Cause for purposes of this Agreement.

 

The amounts payable under
Sections 6(a) and 6(b) shall be paid out in substantially equal installments in accordance with the Company’s payroll
practice over twelve (12) months commencing within sixty (60) days after the Date of Termination; provided, however, that if the
sixty (60) day period begins in one calendar year and ends in a second calendar year, the severance shall be paid or shall begin to be
paid in the second calendar year by the last day of such sixty (60) day period. Each payment pursuant to this Agreement is intended to
constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2).

 

7.            Severance
if a Terminating Event Occurs Outside the Sale Event Period. In the event a Terminating Event
occurs at any time other than during the Sale Event Period, subject to the Executive signing the Separation Agreement and Release and
the Separation Agreement and Release becoming irrevocable, all within sixty (60) days after the Date of Termination or by an earlier date
as determined by the Company, the following shall occur:

 

(a)            the
Company shall pay to the Executive an amount equal to twelve (12) months of the Executive’s Base Salary in effect immediately prior
to the Terminating Event (but only after disregarding any event that constitutes Good Reason);

 

(b)            the
Company shall pay to the Executive a pro-rated portion of the annual bonus target for the current year based on the Date of Termination;
and

 

(c)            if
the Executive timely elects and is eligible to continue receiving group health insurance pursuant to the “COBRA” law, the
Company will, until the earlier of (x) the date that is twelve (12) months following the Date of Termination, and (y) the date
on which the Executive obtains alternative coverage (as applicable, the “Non-Sale Event COBRA Contribution Period”),
continue to pay the share of the premiums for such coverage to the same extent it was paying such premiums on the Executive’s behalf
immediately prior to the Date of Termination. The remaining balance of any premium costs during the Non-Sale Event COBRA Contribution
Period, and all premium costs thereafter, shall be paid by the Executive on a monthly basis for as long as, and to the extent that, the
Executive remains eligible for COBRA continuation. The Executive agrees that, should the Executive obtain alternative medical and/or dental
insurance coverage prior to the date that is twelve (12) months following the Date of Termination, the Executive will so inform the Company
in writing within five (5) business days of obtaining such coverage. Notwithstanding anything to the contrary herein, in the event
that the Company’s payment of the amounts described in Section 7(c) would subject the Company to any tax or penalty under
the ACA or Section 105(h), or applicable regulations or guidance issued under the ACA or Section 105(h), the Executive and the
Company agree to work together in good faith to restructure such benefit.

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The amounts payable under
Section 7(a) and 7(b) shall be paid out in substantially equal installments in accordance with the Company’s payroll
practice over twelve (12) months commencing within sixty (60) days after the Date of Termination; provided, however, that if the sixty
(60) day period begins in one calendar year and ends in a second calendar year, the severance shall begin to be paid in the second calendar
year by the last day of such sixty (60) day period. Each payment pursuant to this Agreement is intended to constitute a separate payment
for purposes of Treasury Regulation Section 1.409A-2(b)(2).

 

8.            Confidentiality,
Non-Solicitation, Non-Competition and Invention Assignment Agreement. The Executive acknowledges
and agrees that, (a) as a condition of the Executive’s continued employment, the Executive executed the Confidentiality Agreement
attached hereto as Exhibit A indicating the Executive’s agreement to all of the Executive’s obligations thereunder;
(b) in consideration for the non-competition covenant set forth in Section 8.2 of the Confidentiality Agreement, the Executive
was granted the SVP Option Award (as described in Section 3(c)(ii)), and such consideration was mutually agreed upon by Executive
and the Company and is fair and reasonable in exchange for the Executive’s compliance with such non-competition covenant; and (c) the
Confidentiality Agreement became effective on April 7, 2022 and the Confidentiality, Noncompetition, and Assignment Agreement between
the Executive and the Company dated May 14, 2016 remained in full force and effect until April 7, 2022, at which time it was
superseded by the Confidentiality Agreement. The terms of the Confidentiality Agreement are incorporated by reference into this Agreement
and the Executive hereby reaffirms the terms of the Confidentiality Agreement as a material term of this Agreement.

 

9.            Additional
Limitation

 

(a)            Anything
in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or distribution by the Company
to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement
or otherwise, calculated in a manner consistent with Section 280G of the Code and the applicable regulations thereunder (the “Aggregate
Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, then the Aggregate Payments shall be
reduced (but not below zero) so that the sum of all of the Aggregate Payments shall be $1.00 less than the amount at which the Executive
becomes subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction shall only occur if it would
result in the Executive receiving a higher After Tax Amount (as defined below) than the Executive would receive if the Aggregate Payments
were not subject to such reduction. In such event, the Aggregate Payments shall be reduced in the following order, in each case, in reverse
chronological order beginning with the Aggregate Payments that are to be paid the furthest in time from consummation of the transaction
that is subject to Section 280G of the Code: (i) cash payments not subject to Section 409A of the Code; (ii) cash
payments subject to Section 409A of the Code; (iii) equity-based payments and acceleration; and (iv) non-cash forms of
benefits; provided that in the case of all the foregoing Aggregate Payments all amounts or payments that are not subject to calculation
under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall be reduced before any amounts that are subject to calculation under
Treas. Reg. §1.280G-1, Q&A-24(b) or (c).

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(b)            For
purposes of this Section, the “After Tax Amount” means the amount of the Aggregate Payments less all federal, state,
and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments.
For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate
of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local
income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction
in federal income taxes which could be obtained from deduction of such state and local taxes.

 

The determination as to whether
a reduction in the Aggregate Payments shall be made pursuant to this Section shall be made by a nationally recognized accounting
firm selected by the Company prior to the Sale Event (the “Accounting Firm”), which shall provide detailed supporting
calculations both to the Company and the Executive within fifteen (15) business days of the Date of Termination, if applicable, or at
such earlier time as is reasonably requested by the Company or the Executive. Any determination by the Accounting Firm shall be binding
upon the Company and the Executive.

 

10.            Section 409A.

 

(a)            Anything
in this Agreement to the contrary notwithstanding, if at the time of the Executive’s “separation from service” within
the meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the
meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive becomes entitled
to under this Agreement on account of the Executive’s separation from service would be considered deferred compensation subject
to the twenty percent (20%) additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of
Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date
that is the earlier of (i) six (6) months and one (1) day after the Executive’s separation from service, or (ii) the
Executive’s death.

 

(b)            The
parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any provision
of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so
that all payments hereunder comply with Section 409A of the Code. The parties agree that this Agreement may be amended, as reasonably
requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations
in order to preserve the payments and benefits provided hereunder without additional cost to either party.

 

(c)            All
in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by
the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively practicable,
but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense
was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind
benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such right to reimbursement or in-kind benefits
is not subject to liquidation or exchange for another benefit.

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(d)            To
the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under
Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Executive’s termination of employment,
then such payments or benefits shall be payable only upon the Executive’s “separation from service.” The determination
of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation
Section 1.409A-1(h).

 

(e)            The
Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions of this
Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption
from, or the conditions of, such Section.

 

11.            Taxes.
All forms of compensation referred to in this Agreement are subject to reduction to reflect applicable withholding and payroll taxes and
other deductions required by law. The Executive hereby acknowledges that the Company does not have a duty to design its compensation policies
in a manner that minimizes tax liabilities.

 

12.            Notice
and Date of Termination.

 

(a)            Notice
of Termination. The Executive’s employment with the Company may be terminated by the Company or the Executive at any time and
for any reason. Any termination of the Executive’s employment (other than by reason of death) shall be communicated by written Notice
of Termination from one party hereto to the other party hereto in accordance with this Section. For purposes of this Agreement, a “Notice
of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon.

 

(b)            Date
of Termination. “Date of Termination” shall mean: (i) if the Executive’s employment is terminated by
the Executive’s death, the date of the Executive’s death; (ii) if the Executive’s employment is terminated on account
of Executive’s Disability or by the Company for Cause or without Cause, the date specified in the Notice of Termination; (iii) if
the Executive’s employment is terminated by the Executive for any reason except for Good Reason, thirty (30) days after the date
specified in the Notice of Termination, and (iv) if the Executive’s employment is terminated by the Executive with Good Reason,
the date specified in the Notice of Termination given after the end of the Cure Period. Notwithstanding the foregoing, in the event that
the Executive gives a Notice of Termination to the Company, the Company may unilaterally accelerate the Date of Termination and such acceleration
shall not result in the termination being deemed a termination by the Company for purposes of this Agreement.

 

13.            Litigation
and Regulatory Cooperation. During and after the Executive’s employment, and at all
times, so long as there is not a significant conflict with the Executive’s then employment, the Executive shall cooperate reasonably
with the Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against
or on behalf of the Company which relate to events or occurrences that transpired while the Executive was employed by the Company. The
Executive’s reasonable cooperation in connection with such claims or actions shall include, but not be limited to, being available
to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually convenient times.
During and after the Executive’s employment, the Executive also shall cooperate reasonably with the Company in connection with any
investigation or review of the Company by any federal, state or local regulatory authority as any such investigation or review relates
to events or occurrences that transpired while the Executive was employed by the Company. The Company shall reasonably compensate Executive
for the time dedicated to, and shall reimburse the Executive for any reasonable out of pocket expenses incurred in connection with, the
Executive’s performance of the obligations set forth in this Section; provided, however, that the Company will not pay the Executive
any fee or amount for time spent providing testimony in any arbitration, trial, administrative hearing or other proceeding.

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14.            Relief.
If the Executive breaches, or proposes to breach, any portion of this Agreement, including the Confidentiality Agreement, or, if applicable,
the Separation Agreement and Release, the Company shall be entitled, in addition to all other remedies that it may have, to an injunction
or other appropriate equitable relief to restrain any such breach, and, if applicable, the Company shall have the right to suspend or
terminate the payments, benefits and/or accelerated vesting, as applicable. Such suspension or termination shall not limit the Company’s
other options with respect to relief for such breach and shall not relieve the Executive of its duties under this Agreement, the Confidentiality
Agreement or the Separation Agreement and Release.

 

15.            Scope
of Disclosure Restrictions. Nothing in this Agreement or the Confidentiality Agreement prohibits
the Executive from communicating with government agencies about possible violations of federal, state, or local laws or otherwise providing
information to government agencies, filing a complaint with government agencies, or participating in government agency investigations
or proceedings.  The Executive is not required to notify the Company of any such communications; provided, however, that nothing
herein authorizes the disclosure of information the Executive obtained through a communication that was subject to the attorney-client
privilege.  Further, notwithstanding the Executive’s confidentiality and nondisclosure obligations, the Executive is hereby
advised as follows pursuant to the Defend Trade Secrets Act: “An individual shall not be held criminally or civilly liable under
any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal,
State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting
or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding,
if such filing is made under seal.  An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation
of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if
the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except
pursuant to court order.”

 

16.            Governing
Law; Consent to Jurisdiction; Forum Selection. The resolution of any disputes as to the meaning,
effect, performance or validity of this Agreement or the Confidentiality Agreement, or arising out of, related to, or in any way connected
with the Executive’s employment with the Company or any other relationship between the Executive and the Company (“Disputes”)
will be governed by the law of the Commonwealth of Massachusetts, excluding laws relating to conflicts or choice of law. The Executive
and the Company submit to the exclusive personal jurisdiction of the federal and state courts located in the Commonwealth of Massachusetts
in connection with any Dispute or any claim related to any Dispute and agree that any claims or legal action shall be commenced and maintained
solely in a state or federal court located in the Commonwealth of Massachusetts.

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17.            Integration.
This Agreement, together with the Confidentiality Agreement and the Equity Documents, constitutes the entire agreement between the parties
with respect to compensation, severance pay, and benefits and supersedes in all respects all prior agreements between the parties concerning
such subject matter, including without limitation any prior offer letter, draft employment agreement, or discussions relating to the Executive’s
employment relationship with the Company; provided, that all prior agreements and instruments relating to equity grants previously made
to the Executive are not affected by this Agreement and remain in full force and effect. For purposes of this Agreement, the Company shall
include affiliates and subsidiaries thereof.

 

18.            Enforceability.
If any portion or provision of this Agreement (including, without limitation, any portion or provision of any Section of this Agreement)
shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or
the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable,
shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted
by law.

 

19.            Waiver.
No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of any party
to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall
not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

 

20.            Notices.
Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and (i) sent
by email to the email addresses used by the Chief Human Resources Officer or, if the Company does not have a Chief Human Resources Officer
at the time of the notice, the most senior officer in the human resources function of the Company (in the case of notices to the Company),
or by the Executive (in the case of notices to the Executive) in their usual course of business; (ii) delivered by hand; (iii) sent
by a nationally recognized overnight courier service or (iv) sent by registered or certified mail, postage prepaid, return receipt
requested, in each case (clauses (iii) and (iv)) to the Executive at the last address the Executive has filed in writing with the
Company, or (as applicable) to the Company at its main office, attention of the Chief Human Resources Officer or, if the Company does
not have a Chief Human Resources Officer at the time of the notice, the most senior officer in the human resources function of the Company.

 

21.            Amendment.
This Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly authorized representative
of the Company.

 

22.            Assignment
and Transfer by the Company; Successors. The Company shall have the right to assign and/or
transfer this Agreement to any entity or person, including without limitation the Company’s parents, subsidiaries, other affiliates,
successors, and acquirers of Company stock or other assets, provided that such entity or person receives all or substantially all of the
Company’s assets. The Executive hereby expressly consents to such assignment and/or transfer. This Agreement shall inure to the
benefit of and be enforceable by the Company’s assigns, successors, acquirers and transferees.

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23.            Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an original,
but all of which together shall constitute one and the same document.

 

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blank]

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IN WITNESS WHEREOF, the parties
have executed this Agreement effective on the date and year first above written.

 

 

	 	VOYAGER THERAPEUTICS, INC.
	 	 
	 	 
	 	By: 	/s/
    Alfred Sandrock, M.D., Ph.D.
	 	 	Alfred Sandrock, M.D., Ph.D.
	 	 	President & Chief Executive Officer
	 	 
	 	 
	 	Date: 	September 6, 2022
	 	 
	 	 
	 	EXECUTIVE:
	 	 
	 	 
	 	/s/
    Todd Carter, Ph.D.
	 	Todd Carter, Ph.D.
	 	 
	 	 
	 	Date: 	September 7, 2022

 

     

     

    

 

EXHIBIT A

 

Confidentiality, Non-Solicitation, Non-Competition
and Invention Assignment AgreementEX-10.1

 Exhibit 10.1 

SHARE PURCHASE AGREEMENT 

This SHARE PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of September 6, 2022 (the
“Effective Date”) by and among Asana, Inc., a Delaware corporation (the “Company”), and the Investor identified on Exhibit A attached hereto (the “Investor”). 

RECITALS 
 A. The Company
and the Investor are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by the provisions of Section 4(a)(2) of the 1933 Act (as defined below); and 

B. The Investor wishes to purchase from the Company, and the Company wishes to sell and issue to the Investor, upon the terms and subject to
the conditions stated in this Agreement, shares (the “Shares”) of the Company’s Class A Common Stock, par value $0.00001 per share (the “Class A Common Stock”). 

In consideration of the mutual promises made herein and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: 
 1. Definitions. For the purposes of this Agreement, the following
terms shall have the meanings set forth below: 
 “Affiliate” means, with respect to any Person, any other Person which
directly or indirectly through one or more intermediaries Controls, is controlled by, or is under common Control with such Person. For the avoidance of doubt, the Company and its subsidiaries shall not be deemed to be Affiliates of the Investor.

 “Board” means the board of directors of the Company. 

“Business Day” means a day, other than a Saturday or Sunday, on which banks in New York City are open for the general
transaction of business. 
 “Certificate of Incorporation” has the meaning set forth in Section 4.3. 

“Class A Common Stock” has the meaning set forth in the recitals to this Agreement. 

“Class B Common Stock” means the Company’s Class B Common Stock, par value $0.00001 per share.

 “Closing” has the meaning set forth in Section 3.1. 

“Closing Date” has the meaning set forth in Section 3.1. 

“Common Stock” means the Class A Common Stock and Class B Common Stock. 

“Company’s Knowledge” means the actual knowledge of the executive officers (as defined in Rule 405 under the 1933 Act)
of the Company. 
 “Control” (including the terms “controlled,” “controlling,” “controlled
by” or “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or
otherwise. 
 “Covered Shares” shall mean the Shares and the Newly Acquired Shares, if any. 

“Disclosure Schedule” has the meaning set forth in Section 4. 

“EDGAR system” has the meaning set forth in Section 4.9. 

  
 1 

 “GAAP” has the meaning set forth in Section 4.11. 

“Governmental Entity” means any national, federal, state, municipal, local, territorial, foreign or other government or any
department, commission, board, bureau, agency, regulatory authority or instrumentality thereof, or any court, judicial, administrative or arbitral body or public or private tribunal. 

“Irrevocable Proxy” has the meaning set forth in Section 8.6. 

“LTSE” means the Long-Term Stock Exchange. 

“Material Adverse Effect” means a material adverse effect on (i) the assets, liabilities, results of operations,
financial condition or business of the Company and its subsidiaries taken as a whole, (ii) the legality or enforceability of any of this Agreement or (iii) the ability of the Company to perform its obligations under this Agreement, except
that for purposes of Section 6.1(h) of this Agreement, in no event shall a change in the market price of the Class A Common Stock alone constitute a “Material Adverse Effect”. 

“Material Contract” means any contract, instrument or other agreement to which the Company is a party or by which it is bound
that has been filed or was required to have been filed as an exhibit to the SEC Filings pursuant to Item 601(b)(4) or Item 601(b)(10) of Regulation S-K. 

“MFW Conditions” means (x) the approval of a special committee of independent members of the Board and (y) the
affirmative vote of a majority of the voting power of the outstanding shares of Class A Common Stock not beneficially owned by the Investor or his Affiliates, in each case of clauses (x) and (y) to the extent necessary to satisfy the
framework established under Kahn v. M & F Worldwide Corp., 88 A.3d 635 (Del. 2014) and its progeny. 

“Newly Acquired Shares” means any shares of capital stock of the Company that become beneficially owned by the Investor or
his Affiliates after the Effective Date that are not beneficially owned by the Investor or his Affiliates prior to the Effective Date. For the avoidance of doubt and for purposes of this definition only, the Investor and his Affiliates shall be
deemed to beneficially own, prior to the Effective Date, (i) any shares of Class A Common Stock issuable upon conversion of outstanding shares of Class B Common Stock beneficially owned by the Investor or his Affiliates on the
Effective Date and (ii) any shares of capital stock of the Company issuable pursuant to any rights or options outstanding on the Effective Date and held by the Investor or his Affiliates. With respect to shares of capital stock beneficially
owned prior to the Effective Date only, shares of capital stock acquired by the Investor or his Affiliates through a stock split or similar distribution shall not be deemed Newly Acquired Shares. 

“NYSE” means the New York Stock Exchange. 

“Person” means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint
stock company, joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically listed herein. 

“Proxyholder” has the meaning set forth in Section 8.6. 

“Public Disclosure” has the meaning set forth in Section 9.10. 

“Public Shares” means shares of Class A Common Stock over which neither the Investor nor any of his Affiliates have sole
or shared voting power. 
 “Registration Rights Agreement” means the Amended and Restated Investors’ Rights Agreement,
dated as of November 15, 2018, as amended, by and among the Company and certain investors in the Company. 
 “SEC”
means the U.S. Securities and Exchange Commission. 

  
 2 

 “SEC Filings” has the meaning set forth in Section 4.8. 

“Shares” has the meaning set forth in the recitals to this Agreement. For the avoidance of doubt, “Shares” shall
include only those shares of Class A Common Stock purchased by the Investor pursuant to this Agreement. 
 “Trading
Day” means a day on which the Class A Common Stock is listed or quoted and traded on the NYSE. 
 “Trading
Markets” means the NYSE and the LTSE. 
 “Transfer Agent” has the meaning set forth in Section 7.2(a). 

“1933 Act” means the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated
thereunder. 
 “1934 Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules
and regulations promulgated thereunder. 
 2. Purchase and Sale of the Shares. On the Closing Date, upon the terms and subject
to the conditions set forth herein, the Company will issue and sell, and the Investor will purchase the number of Shares set forth opposite the name of such Investor under the heading “Number of Shares” on Exhibit A attached hereto.
The purchase price per Share shall be $18.16. 
 3. Closing. 

3.1 Upon the satisfaction of the conditions set forth in Section 6, the completion of the purchase and sale of the Shares (the
“Closing”) shall occur remotely via exchange of documents and signatures on September 6, 2022 (the “Closing Date”). 

3.2 On the Closing Date, the Investor shall deliver or cause to be delivered to the Company, via wire transfer of immediately available
funds pursuant to the wire instructions delivered to such Investor by the Company on or prior to the Closing Date, an amount equal to the purchase price to be paid by the Investor for the Shares to be acquired by it as set forth opposite the name of
such Investor under the heading “Aggregate Purchase Price of Shares” on Exhibit A attached hereto. 
 3.3 At the
Closing, the Company shall deliver or cause to be delivered to the Investor a number of Shares, registered in the name of the Investor (or his nominee in accordance with its delivery instructions), equal to the number of Shares set forth opposite
the name of such Investor under the heading “Number of Shares” on Exhibit A attached hereto. The Shares shall be delivered via a book-entry record through the Transfer Agent and, as soon as practicable thereafter, the Company shall
provide a copy of the records of the Transfer Agent showing the Investor as the owner of the Shares on and as of the Closing Date. Unless the Company and the Investor otherwise mutually agree with respect to such Investor’s Shares, settlement
shall occur on a “delivery versus payment” basis at Closing. 
 4. Representations and Warranties of the Company. The
Company hereby represents and warrants to the Investor that, except (a) as described in the Company’s SEC Filings and (b) as set forth on the disclosure schedule delivered herewith (which is arranged in numbered and lettered sections
corresponding to the numbered and lettered sections contained in this Section 4) (the “Disclosure Schedule”), each of which qualify these representations and warranties in their entirety: 

4.1 Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good
standing under the laws of the jurisdiction of its incorporation and has all requisite corporate power and authority to carry on its business as now conducted and to own or lease its properties. The Company is duly qualified to do business as a
foreign corporation and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property makes such qualification or leasing necessary unless the failure to so qualify has not had and would not
reasonably be expected to have a Material Adverse Effect. 

  
 3 

 
Each subsidiary of the Company has been duly incorporated or organized and is validly existing and in good standing (or such equivalent concepts to the extent they exist under the law of such
jurisdiction) under the laws of the jurisdiction of its incorporation or organization, and have all requisite power and authority to carry on their business as now conducted and to own or lease their properties. The Company’s subsidiaries are
duly qualified to do business and are in good standing (or such equivalent concept to the extent it exists under the law of such jurisdiction) in each jurisdiction in which the conduct of their business or their ownership or leasing of property
makes such qualification necessary unless the failure to so qualify has not had and would not reasonably be expected to have a Material Adverse Effect. 

4.2 Authorization. The Company has the requisite corporate power and authority and has taken all requisite corporate action
necessary for, and no further action on the part of the Company, its officers, directors and stockholders is necessary for, (i) the authorization, execution and delivery of this Agreement, (ii) the authorization of the performance of all
obligations of the Company hereunder, and (iii) the authorization, issuance (or reservation for issuance) and delivery of the Shares. This Agreement constitutes the legal, valid and binding obligation of the Company, enforceable against the
Company in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating to or affecting creditors’ rights generally and to general equitable
principles. 
 4.3 Capitalization. The Company is authorized under its certificate of incorporation (as it may be amended from
time to time, the “Certificate of Incorporation”) to issue 1,000,000,000 shares of Class A Common Stock. The Company’s disclosure of its issued and outstanding capital stock in its most recent SEC Filing containing such
disclosure was accurate in all material respects as of the date indicated in such SEC Filing. Since the date indicated in such SEC Filing, there has not been any change in the Company’s capital stock, other than as a result of the exercise of
stock options, the settlement of restricted stock units or the award of stock options or restricted stock units in the ordinary course of business pursuant to the Company’s stock-based compensation plans described in the SEC Filings. All of the
issued and outstanding shares of the Company’s capital stock have been duly authorized and validly issued and are fully paid and nonassessable; none of such shares were issued in violation of any preemptive rights; and such shares were issued
in compliance in all material respects with applicable state and federal securities law and any rights of third parties. No Person is entitled to preemptive or similar statutory or contractual rights with respect to the issuance by the Company of
any securities of the Company, including, without limitation, the Shares. Except for stock options and restricted stock units approved pursuant to Company stock-based compensation plans described in the SEC Filings, there are no outstanding
warrants, options, convertible securities or other rights, agreements or arrangements of any character under which the Company is or may be obligated to issue any equity securities of any kind, except as contemplated by this Agreement. The Shares
issued hereunder shall be deemed Founders’ Stock as defined in the Registration Rights Agreement and, except for registration rights set forth in the Registration Rights Agreement, no Person has the right to require the Company to register any
securities of the Company under the 1933 Act, whether on a demand basis or in connection with the registration of securities of the Company for its own account or for the account of any other Person that have not otherwise been satisfied in full.

 4.4 Valid Issuance. The Shares have been duly and validly authorized and, when issued and paid for pursuant to this
Agreement, will be validly issued, fully paid and nonassessable, and shall be free and clear of all encumbrances and restrictions (other than those created by the Investor), except for restrictions on transfer set forth in this Agreement or imposed
by applicable securities laws. Assuming the accuracy of the representations and warranties of the Investor in Section 5 hereof, the Shares will be issued in compliance with all applicable federal and state securities laws. 

4.5 Consents. Subject to the accuracy of the representations and warranties of the Investor set forth in Section 5 hereof,
the execution, delivery and performance by the Company of this Agreement and the offer, issuance and sale of the Shares require no consent of, action by or in respect of, or filing with, any Person, governmental body, agency, or official other than
(a) filings that have been made pursuant to applicable state securities laws, (b) post-sale filings pursuant to applicable state and federal securities laws, and (c) filings pursuant to the rules and regulations of the Trading
Markets, each of which the Company has filed or undertakes to file within the applicable time. Subject to the accuracy of the representations and warranties of the Investor set forth in Section 5 hereof, the Company has taken all action
necessary to exempt (i) the issuance and sale of the Shares and (ii) the other transactions contemplated by this Agreement from the provisions of any stockholder rights plan or other “poison pill” arrangement, any anti-takeover,
business combination or control share law or statute binding on the Company or to which the 

  
 4 

 
Company or any of its assets and properties is subject that is or could reasonably be expected to become applicable to the Investor as a result of the transactions contemplated hereby, including
without limitation, the issuance of the Shares and the ownership, disposition or voting of the Shares by the Investor or the exercise of any right granted to the Investor pursuant to this Agreement. 

4.6 Use of Proceeds. The net proceeds of the sale of the Shares hereunder shall be used by the Company for working capital and
general corporate purposes. 
 4.7 No Material Adverse Change. Since April 30, 2022, except as identified and described in
the SEC Filings filed at least one Trading Day prior to the Effective Date, there has not been: 
 (a) any change in the consolidated
assets, liabilities, financial condition or operating results of the Company from that reflected in the financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarter ended
April 30, 2022, except for changes in the ordinary course of business which have not had and would not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate; 

(b) any declaration or payment by the Company of any dividend, or any authorization or payment by the Company of any distribution, on
any of the capital stock of the Company, or any redemption or repurchase by the Company of any securities of the Company; 
 (c) any
material damage, destruction or loss, whether or not covered by insurance, to any assets or properties of the Company; 
 (d) any
waiver, not in the ordinary course of business, by the Company of a material right or of a material debt owed to it; 
 (e) any
satisfaction or discharge of any lien, claim or encumbrance or payment of any obligation by the Company, except in the ordinary course of business and which is not material to the assets, properties, financial condition, operating results or
business of the Company (as such business is presently conducted); 
 (f) any change or amendment to the Company’s Certificate
of Incorporation or Bylaws, or material change to any material contract or arrangement by which the Company is bound or to which any of its assets or properties is subject; 

(g) any material labor difficulties or, to the Company’s Knowledge, labor union organizing activities with respect to employees of
the Company; 
 (h) any material transaction entered into by the Company other than in the ordinary course of business; 

(i) the loss of the services of any key employee, or material change in the composition or duties of the senior management of the
Company; or 
 (j) any other event or condition of any character that has had or would reasonably be expected to have a Material
Adverse Effect. 
 4.8 SEC Filings. The Company has timely filed all reports, schedules, forms, statements and other documents
required to be filed by the Company under the 1933 Act and the 1934 Act, including pursuant to Section 13(a) or 15(d) thereof, for the one-year period preceding the Effective Date (collectively, the
“SEC Filings”). At the time of filing thereof, the SEC Filings complied in all material respects with the requirements of the 1933 Act or the 1934 Act, as applicable, and the rules and regulations of the SEC thereunder. 

  
 5 

 4.9 No Conflict, Breach, Violation or Default. The execution, delivery and
performance of this Agreement by the Company and the issuance and sale of the Shares in accordance with the provisions thereof will not, except in the case of clauses (i)(b) and (ii) for such violations, conflicts or defaults as would not
reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, (i) conflict with or result in a breach or violation of (a) any of the terms and provisions of, or constitute a default under, the Company’s
Certificate of Incorporation or the Company’s Bylaws, both as in effect on the Effective Date (true and complete copies of which have been made available to the Investor through the Electronic Data Gathering, Analysis, and Retrieval system (the
“EDGAR system”)), or (b) assuming the accuracy of the representations and warranties in Section 5, any applicable statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign,
having jurisdiction over the Company or its subsidiaries, or any of their assets or properties, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the
creation of any lien, encumbrance or other adverse claim upon any of the properties or assets of the Company or its subsidiaries or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of
time or both) of, any Material Contract. 
 4.10 Legal Proceedings. There are no legal, governmental or regulatory
investigations, actions, suits or proceedings pending, or to the Company’s Knowledge, threatened to which the Company or its subsidiaries are a party or to which any property of the Company or its subsidiaries are the subject that, individually
or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 
 4.11 Financial Statements; Non-GAAP Financial Measures. The financial statements included in each SEC Filing comply in all material respects with applicable accounting requirements and the rules and regulations of the SEC with respect
thereto as in effect at the time of filing (or to the extent corrected by a subsequent restatement) and present fairly, in all material respects, the consolidated financial position of the Company as of the dates shown and its consolidated results
of operations and cash flows for the periods shown, subject in the case of unaudited financial statements to normal, immaterial year-end audit adjustments, and such consolidated financial statements have been
prepared in conformity with United States generally accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”) (except as may be disclosed therein or in the notes thereto, and except that the
unaudited financial statements may not contain all footnotes required by GAAP, and, in the case of quarterly financial statements, except as permitted by Form 10-Q under the 1934 Act). Except as set forth in
the financial statements of the Company included in the SEC Filings or as otherwise disclosed in the SEC Filings filed prior to the Effective Date, the Company has not incurred any liabilities, contingent or otherwise, except those incurred in the
ordinary course of business, consistent (as to amount and nature) with past practices since the date of such financial statements, none of which, individually or in the aggregate, have had or would reasonably be expected to have a Material Adverse
Effect. All disclosures contained in each SEC Filing regarding “non-GAAP financial measures” (as such term is defined by the rules and regulations of the SEC) comply with Regulation G of the 1934 Act
and Item 10 of Regulation S-K of the 1933 Act, to the extent applicable. 
 4.12 Compliance
with the Sarbanes-Oxley Act. There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any applicable provision of the
Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith, including Section 402 related to loans and Sections 302 and 906 related to certifications. 

4.13 Internal Controls. The Company has established and maintains disclosure controls and procedures (as defined in Rules 13a-15 and 15d-15 under the 1934 Act), which (a) are designed to ensure that material information relating to the Company, including its subsidiaries, is made known to
the Company’s principal executive officer and its principal financial officer by others within those entities; (b) have been evaluated by management of the Company for effectiveness as of the end of the Company’s most recent fiscal
quarter; and (c) are effective in all material respects and at a reasonable assurance level to perform the functions for which they were established. Since the end of the Company’s most recent audited fiscal year, there have been no
material weaknesses in the Company’s internal controls over financial reporting (whether or not remediated) and no change in the Company’s internal controls over financial reporting that has materially affected, or would reasonably be
expected to materially affect, the Company’s internal controls over financial reporting. The Company is not aware of any change in its internal controls over financial reporting that has occurred during its most recent fiscal quarter that has
materially affected, or would reasonably be expected to materially affect, the Company’s internal control over financial reporting. 

  
 6 

 4.14 Compliance with Trading Markets Continued Listing Requirements. The
Company is in compliance with each of the applicable Trading Markets’ continued listing requirements. There are no proceedings pending or, to the Company’s Knowledge, threatened against the Company relating to the continued listing of the
Class A Common Stock on the Trading Markets and the Company has not received any notice of, nor to the Company’s Knowledge is there any reasonable basis for, the delisting of the Class A Common Stock from the Trading Markets. 

4.15 Brokers and Finders. No Person will have, as a result of the transactions contemplated by this Agreement, any valid right,
interest or claim against or upon the Company or the Investor for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of the Company. 

4.16 No Directed Selling Efforts or General Solicitation. Neither the Company nor any Person acting on its behalf has conducted
any general solicitation or general advertising in connection with the offer or sale of any of the Shares. 
 4.17 No Integrated
Offering. Neither the Company nor its subsidiaries nor any Person acting on their behalf has, directly or indirectly, made any offers or sales of any Company security or solicited any offers to buy any Company security, under circumstances that
would adversely affect reliance by the Company on Section 4(a)(2) for the exemption from registration for the transactions contemplated hereby or would require registration of the Shares under the 1933 Act. 

4.18 Private Placement. Assuming the accuracy of the representations and warranties of the Investor set forth in Section 5,
the offer and sale of the Shares to the Investor as contemplated hereby are exempt from the registration requirements of the 1933 Act pursuant to Section (4)(a)(2). The issuance and sale of the Shares, as contemplated hereby, do not contravene the
rules and regulations of the Trading Markets. 
 4.19 Disclosures. The SEC Filings do not contain any untrue statement of a
material fact or omit to state a material fact necessary in order to make the statements contained therein, in light of the circumstances under which they were made, not misleading. The Company understands and confirms that the Investor will rely on
the foregoing representations in effecting transactions in securities of the Company. 
 4.20 Required Filings. Except for the
transactions contemplated by this Agreement, including the acquisition of the Shares contemplated hereby, which will be disclosed in the Public Disclosure (as defined below), no event or circumstance has occurred or information exists with respect
to the Company or its business, properties, operations or financial condition, which, under applicable law, rule or regulation, requires public disclosure or announcement by the Company but which has not been so publicly announced or disclosed
(assuming for this purpose that the SEC Filings are being incorporated by reference into an effective registration statement filed by the Company under the 1933 Act). 

4.21 Investment Company. The Company is not required to be registered as, and immediately following the Closing will not be
required to register as, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 

5. Representations and Warranties of the Investor. The Investor hereby represents and warrants to the Company that: 

5.1 Authorization. The execution, delivery and performance by such Investor of this Agreement have been duly authorized and this
Agreement has been duly executed and when delivered will constitute the valid and legally binding obligation of such Investor, enforceable against such Investor in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability, relating to or affecting creditors’ rights generally, and general principles of equity. 

5.2 No Conflicts. The execution, delivery and performance by such Investor of this Agreement and the consummation by such
Investor of the transactions contemplated hereby will not (i) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which such Investor is a party, or (ii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws)
applicable to such Investor, except in the case of clause (i) and (ii) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the
ability of such Investor to perform its obligations hereunder. 

  
 7 

 5.3 Purchase Entirely for Own Account. The Shares to be received by such
Investor hereunder will be acquired for such Investor’s own account, not as nominee or agent, for the purpose of investment and not with a view to the resale or distribution of any part thereof in violation of the 1933 Act, and such Investor
has no present intention of selling, granting any participation in, or otherwise distributing the same in violation of the 1933 Act without prejudice, however, to such Investor’s right at all times to sell or otherwise dispose of all or any
part of such Shares in compliance with applicable federal and state securities laws. 
 5.4 Investment Experience. Such
Investor acknowledges that it can bear the economic risk and complete loss of its investment in the Shares and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment
contemplated hereby. 
 5.5 Disclosure of Information. Such Investor has had an opportunity to receive, review and understand
all information related to the Company requested by him and to ask questions of and receive answers from the Company regarding the Company, its business and the terms and conditions of the offering of the Shares, and has conducted and completed his
own independent due diligence. Such Investor acknowledges that copies of the SEC Filings are available on the EDGAR system. Based on the information such Investor has deemed appropriate, he has independently made his own analysis and decision to
enter into this Agreement. Such Investor is relying exclusively on his own investment analysis and due diligence (including professional advice he deems appropriate) with respect to the execution, delivery and performance of this Agreement, the
Shares and the business, condition (financial and otherwise), management, operations, properties and prospects of the Company, including but not limited to all business, legal, regulatory, accounting, credit and tax matters. Neither such inquiries
nor any other due diligence investigation conducted by such Investor shall modify, limit or otherwise affect such Investor’s right to rely on the Company’s representations and warranties contained in this Agreement. 

5.6 Restricted Securities. Such Investor understands that the Shares are characterized as “restricted securities” under
the U.S. federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the
1933 Act only in certain limited circumstances. 
 5.7 Legends. Such Investor understands that, except as provided below,
certificates or book-entry positions evidencing the Shares may bear the following or any similar legend: 
 (a) “These Shares
represented hereby have not been registered with the Securities and Exchange Commission or the securities commission of any state but have been issued in reliance upon an exemption from registration under the Securities Act of 1933, as amended, and,
accordingly, may not be transferred unless (i) such securities have been registered for resale pursuant to the Securities Act of 1933, as amended, (ii) such securities may be sold pursuant to Rule 144, (iii) the Company has received an
opinion of counsel reasonably satisfactory to it that such transfer may lawfully be made without registration under the Securities Act of 1933, as amended, or (iv) the securities are transferred without consideration to an affiliate of such
holder or a custodial nominee (which for the avoidance of doubt shall require neither consent nor the delivery of an opinion).” 

(b) If required by the authorities of any state in connection with the issuance of sale of the Shares, the legend required by such
state authority. 
 5.8 Accredited Investor. Such Investor is an “accredited investor” within the meaning of Rule
501(a) of the 1933 Act. Such investor is a sophisticated investor with sufficient knowledge and experience in investing in private equity transactions to properly evaluate the risks and merits of its purchase of the Shares. 

5.9 Brokers and Finders. No Person will have, as a result of the transactions contemplated by this Agreement, any valid right,
interest or claim against or upon the Company or the Investor for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of such Investor. 

  
 8 

 6. Conditions to Closing. 

6.1 Conditions to the Investor’s Obligations. The obligation of the Investor to purchase Shares at the Closing
is subject to the fulfillment to such Investor’s satisfaction, on or prior to the Closing Date, of the following conditions, any of which may be waived by such Investor (as to himself only): 

(a) The representations and warranties made by the Company in Section 4 hereof, as qualified by the Disclosure Schedule and the
SEC Filings, shall be true and correct (i) with respect to those representations and warranties qualified by materiality, material adverse effect or any other similar materiality qualifier, in all respects as of the Closing Date, except to the
extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct in all respects as of such earlier date and (ii) with respect to any other
representations and warranties, in all material respects as of the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct
in all material respects as of such earlier date. 
 (b) The Company shall have performed in all material respects all obligations
and covenants herein required to be performed by it on or prior to the Closing Date. 
 (c) The Company shall have obtained any and
all consents, permits, approvals (including but not limited to all necessary regulatory, NYSE and LTSE approvals), registrations and waivers necessary for the consummation of the purchase and sale of the Shares and the consummation of the other
transactions contemplated by this Agreement, all of which shall be in full force and effect. 
 (d) No judgment, writ, order,
injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy court or judge, or any order of or by any governmental authority, shall have been issued, and no action or proceeding shall have been
instituted by any governmental authority, enjoining or preventing the consummation of the transactions contemplated hereby. 
 (e)
The Company shall have delivered a Certificate, executed on behalf of the Company by its Chief Financial Officer, dated as of the Closing Date, certifying to the fulfillment of the conditions specified in subsections (a), (b), (c), (d), (h) and
(i) of this Section 6.1. 
 (f) The Company shall have delivered a Certificate, executed on behalf of the Company by its
Secretary, dated as of the Closing Date, certifying the resolutions adopted by the Board of the Company approving the transactions contemplated by this Agreement, the issuance of the Shares, certifying the current versions of the Certificate of
Incorporation and Bylaws of the Company and certifying as to the signatures and authority of persons signing this Agreement and related documents on behalf of the Company. 

(g) The Investor shall have received an opinion from Cooley LLP, the Company’s counsel, dated as of the Closing Date, in form and
substance reasonably acceptable to the Investor. 
 (h) There shall have been no Material Adverse Effect with respect to the Company
since the Effective Date. 
 (i) No stop order or suspension of trading shall have been imposed by the NYSE, the LTSE,
the SEC or any other governmental or regulatory body with respect to public trading in the Class A Common Stock. 
 6.2
Conditions to Obligations of the Company. The Company’s obligation to sell and issue Shares at the Closing to the Investor is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following
conditions, any of which may be waived by the Company: 
 (a) The representations and warranties made by such Investor in
Section 5 hereof shall be true and correct (i) with respect to those representations and warranties qualified by materiality, material adverse effect or any other similar materiality qualifier, in all respects as of the Closing Date,
except to the extent any 

  
 9 

 
such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct in all respects as of such earlier date and
(ii) with respect to any other representation and warranty, in all material respects as of the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or
warranty shall be true and correct in all material respects as of such earlier date. 
 (b) Such Investor shall have performed in all
material respects all obligations and covenants herein required to be performed by them on or prior to the Closing Date. 
 (c) Such
Investor purchasing Shares at the Closing shall have paid in full his purchase price to the Company. 
 7. Covenants and
Agreements of the Company. 
 7.1 NYSE and LTSE Listing Requirements. The Company will use commercially reasonable efforts
to continue the listing and trading of the Class A Common Stock on the NYSE and LTSE and, in accordance therewith, will use commercially reasonable efforts to comply in all material respects with the Company’s reporting, filing and other
obligations under the bylaws or rules of such market or exchange, as applicable. 
 7.2 Removal of Legends. 

(a) In connection with any sale, assignment, transfer or other disposition of the Shares by the Investor pursuant to Rule 144 or
pursuant to any other exemption under the 1933 Act such that the purchaser acquires freely tradable shares and upon compliance by the Investor with the requirements of this Agreement, if requested by the Investor, the Company shall request the
transfer agent for the Class A Common Stock (the “Transfer Agent”) to remove any restrictive legends related to the book entry account holding such shares and make a new, unlegended entry for such book entry shares sold or
disposed of without restrictive legends within two (2) Trading Days of any such request therefor from such Investor, provided that the Company has timely received from the Investor customary representations and other documentation reasonably
acceptable to the Company in connection therewith. 
 (b) Subject to receipt from the Investor by the Company and the Transfer Agent
of customary representations and other documentation reasonably acceptable to the Company and the Transfer Agent in connection therewith, upon the earliest of such time as the Shares (i) have been registered under the 1933 Act pursuant to an
effective registration statement, (ii) have been sold pursuant to Rule 144, or (iii) are eligible for resale under Rule 144(b)(1) or any successor provision, the Company shall, in accordance with the provisions of this Section 7.2(b)
and within two (2) Trading Days of any request therefor from the Investor accompanied by such customary and reasonably acceptable documentation referred to above, (A) deliver to the Transfer Agent irrevocable instructions that the Transfer
Agent shall make a new, unlegended entry for such book entry shares, and (B) cause its counsel to deliver to the Transfer Agent one or more opinions to the effect that the removal of such legends in such circumstances may be effected under the
1933 Act if required by the Transfer Agent to effect the removal of the legend in accordance with the provisions of this Agreement. Any shares subject to legend removal under this Section 7.2 may be transmitted by the Transfer Agent to the
Investor by crediting the account of the Investor’s prime broker with the DTC System as directed by such Investor. The Company shall be responsible for the fees of its Transfer Agent and all DTC fees associated with such issuance. 

7.3 Subsequent Equity Sales by the Company. The Company shall not, and shall use its commercially reasonable efforts to ensure
that no Affiliate of the Company shall, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the 1933 Act) that will be integrated with the offer or sale of the Shares in a
manner that would require the registration under the 1933 Act of the sale of the Shares to the Investor, or that will be integrated with the offer or sale of the Shares for purposes of the rules and regulations of any trading market such that it
would require stockholder approval prior to the closing of such other transaction unless stockholder approval is obtained before the closing of such subsequent transaction. The Company shall not take any action or steps that would adversely affect
reliance by the Company on Section 4(a)(2) for the exemption from registration for the transactions contemplated hereby or require registration of the Shares under the 1933 Act. 

  
 10 

 7.4 Filings. The Company shall make all filings with the SEC and its Trading
Markets as required by the transactions contemplated hereby. 
 8. Covenants and Agreements of the Investor. 

8.1 Securities Law Compliance. The Investor agrees that, following the Closing hereunder, he will sell, transfer or otherwise
dispose of the Shares only in compliance with all applicable state and federal securities laws and that any Shares sold by such Investor pursuant to an effective registration statement will be sold in compliance with the plan of distribution set
forth therein. 
 8.2 Transfer Restrictions. The Investor agrees that, without the satisfaction of the MFW Conditions, he and
his controlled Affiliates will not sell, transfer or otherwise dispose of any shares of capital stock of the Company (in one transaction or a series of transactions), by merger of the Company or otherwise, if as a result thereof, any Person other
than the Investor, together with his controlled Affiliates, would beneficially own, in the aggregate, more than 50% of the voting power of the outstanding shares of capital stock of the Company, unless each other stockholder of the Company has the
right to participate pro rata (by operation of law or otherwise) in such sale, transfer or disposition on the same terms, including as to price per share and form of consideration. Notwithstanding the foregoing, the Investor shall not be restricted
from engaging in a Permitted Transfer within the meaning of the Certificate of Incorporation as in effect on the Effective Date (or a transfer of Class A Common Stock that would be a Permitted Transfer within the meaning of the Certificate of
Incorporation as in effect on the Effective Date if such transfer were of Class B Common Stock), so long as the transferee agrees in writing by execution of a joinder to be legally bound by the terms hereof as Investor. 

8.3 Merger or Tender Offer Transaction. The Investor agrees that he and his controlled Affiliates will not offer to acquire or
acquire, by merger, tender offer or otherwise, all of the outstanding shares of capital stock of the Company not beneficially owned by such Investor and his Affiliates, without satisfaction of the MFW Conditions. 

8.4 Confidentiality After the Effective Date. The Investor covenants that until such time as the transactions contemplated by
this Agreement are publicly disclosed by the Company, such Investor will maintain the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction), other than to such
Investor’s outside attorney, accountant, auditor or investment advisor only to the extent necessary to permit evaluation of the investment, and the performance of the necessary or required tax, accounting, financial, legal, or administrative
tasks and services and other than as may be required by law. 
 8.5 Purchases of Class A Common Stock After the
Effective Date. The Investor covenants and agrees that, following the Closing hereunder, without satisfaction of the MFW Conditions, such Investor and his controlled Affiliates will not in any manner, acquire beneficial ownership of shares of
Class A Common Stock, including through convertible securities, options, puts, calls or other derivative instruments, hedging contracts or any other form of transaction, agreement, arrangement or understanding, that would result in the
Investor, together with his controlled Affiliates, beneficially owning 90% or more of the Class A Common Stock of the Company, including, for purposes of this calculation, shares of Class A Common Stock issuable upon conversion of
outstanding shares of Class B Common Stock of the Company. 
 8.6 Voting Neutralization. The Investor agrees that,
following the Closing hereunder, at any time action is to be taken by the Company’s stockholders, whether by vote at a stockholders’ meeting or by written consent in lieu of a meeting, the Investor shall vote or cause to be voted (or take
action or omit to take any action with respect to) all Covered Shares over which such Investor or his controlled Affiliates has sole or shared voting power so as to cause the Covered Shares to reflect the voting results (with respect to shares voted
“for”, shares voted “against”, shares “abstained”, shares “withheld”, broker nonvotes and shares not present at the meeting for quorum purposes) of the Public Shares. The Investor hereby irrevocably appoints
the Company’s Secretary, or any other designee of the Board (the Company’s Secretary or such other designee, the “Proxyholder”), as the Investor’s true and lawful proxy and attorney, with the power to act alone and
with full power of substitution and re-substitution to vote (or cause to be voted, to take action or omit to take any action with respect to, or to give consent) in such manner as the Proxyholder or its, his
or her substitute shall deem appropriate or desirable to carry out the purposes and intent of this Section 8.6 at any meeting of the Company held after the Effective Date, whether annual or special and whether or not an adjourned meeting or, if
applicable, to give written consent with respect thereto (the “Irrevocable Proxy”). This Irrevocable Proxy is coupled with an interest and shall be irrevocable. 

  
 11 

 8.7 Independent Board. The Investor covenants and agrees that, following the
Closing hereunder, such Investor shall take all action necessary, and shall cause his controlled Affiliates to take all action necessary, to cause a majority of the total number of directors then serving on the Board to be independent directors as
determined in accordance with the rules of the NYSE. 
 9. Miscellaneous. 

9.1 Survival. The representations, warranties, covenants and agreements contained in this Agreement shall survive the Closing of
the transactions contemplated by this Agreement for the applicable statute of limitations. 
 9.2 Successors and Assigns. This
Agreement may not be assigned by a party hereto without the prior written consent of the Company and the Investor, as applicable. The provisions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors
and assigns of the parties. Other than in a transaction governed by Sections 8.2 or 8.3, in the event that the Company is a party to a merger, consolidation, share exchange or similar business combination transaction in which the Class A Common
Stock is converted into the equity securities of another Person, from and after the effective time of such transaction, such Person shall, by virtue of such transaction, be deemed to have assumed the obligations of the Company hereunder, the term
“Company” shall be deemed to refer to such Person and this Agreement shall apply to the securities received by the Investor in connection with such transaction. 

9.3 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signatures complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or
other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

9.4 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be
considered in construing or interpreting this Agreement. 
 9.5 Notices. Unless otherwise provided, any notice required or
permitted under this Agreement shall be given in writing and shall be deemed effectively given as hereinafter described (i) if given by personal delivery, then such notice shall be deemed given upon such delivery, (ii) if given by e-mail, then such notice shall be deemed given upon receipt of confirmation of receipt of an e-mail transmission, (iii) if given by mail, then such notice shall be deemed
given upon the earlier of (A) receipt of such notice by the recipient or (B) three days after such notice is deposited in first class mail, postage prepaid, and (iv) if given by an internationally recognized overnight air courier,
then such notice shall be deemed given one Business Day after delivery to such carrier. All notices shall be addressed to the party to be notified at the address as follows, or at such other address as such party may designate by ten days’
advance written notice to the other party: 
 If to the Company: 
  

					
	         
	 	 Asana, Inc.

		 	 633 Folsom Street, Suite 100

		 	 San Francisco, CA 94107

		 	 Telephone:  
	 	 (415)525-3888

		 	 Attention:
	 	 Tim Wan, Chief Financial Officer

		 	 Email:
	 	 timwan@asana.com

		 	 Attention:
	 	 Eleanor Lacey, General Counsel

		 	 Email:
	 	 eleanorlacey@asana.com

  
 12 

					
	        	 	With a copy (which shall not constitute notice) to:
		
		 	Cooley LLP
		 	3175 Hanover Street
		 	Palo Alto, CA 94304-1130
		 	Telephone:  	 	(650)843-5000
		 	Facsimile:	 	(650)849-7400
		 	Attention:	 	Calise Cheng
		 	Email	 	ccheng@cooley.com
		 	Attention:	 	Dave Segre
		 	Email:	 	dsegre@cooley.com

 If to the Investor: 

    Only to the addresses set forth on the signature pages hereto. 

9.6 Expenses. The parties hereto shall pay their own costs and expenses in connection herewith regardless of whether the
transactions contemplated hereby are consummated; it being understood that each of the Company and the Investor has relied on the advice of its own respective counsel and financial advisors. 

9.7 Amendments, Consents and Waivers. Prior to Closing, no amendment, approval or waiver of any provision of this Agreement will
be effective with respect to any party unless made in writing and signed by a duly authorized representative of such party. Following the Closing, any term of this Agreement may be amended, any consent may be granted hereunder and the observance of
any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Investor; provided, however, that any such amendment, consent or
waiver of the Company shall require the prior approval of a committee of the Board consisting solely of directors who are independent of the Investor for purposes of Delaware law. 

9.8 Adjustments. In the event of any stock split, stock dividend, reorganization, recapitalization, reclassification,
combination, exchange of shares or other like change with respect to the shares of capital stock of the Company outstanding after the Effective Date, the references herein shall be appropriately adjusted give effect to the purposes and intent of
this Agreement. 
 9.9 Publicity by Investor. Except as set forth below, no public release or announcement concerning the
transactions contemplated hereby shall be issued by the Investor without the prior consent of the Company, except as such release or announcement may be required by law or the applicable rules or regulations of any securities exchange or securities
market, in which case the Investor shall allow the Company reasonable time to comment on such release or announcement in advance of such issuance. Notwithstanding the foregoing, the Investor may identify the Company and the value of such
Investor’s security holdings in the Company in accordance with applicable investment reporting and disclosure regulations or internal policies without prior notice to or consent from the Company (including, for the avoidance of doubt, filings
pursuant to Sections 13 and 16 of the 1934 Act). 
 9.10 Publicity by Company. Except as set forth below, no public release or
announcement concerning the transactions contemplated hereby (which, for the avoidance of doubt, shall not include any SEC Filing to the extent such disclosure is required by SEC rules and regulations) shall be issued by the Company without the
prior written consent of the Investor. No later than the Business Day immediately following the date this Agreement is executed, the Company shall issue a press release and file a Form 8-K with the SEC
disclosing all material terms of the transactions contemplated by this Agreement (the “Public Disclosure”). 
 9.11
Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof but shall be interpreted as if it were written so as to be enforceable to the maximum extent permitted by applicable law, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. To the extent permitted by applicable law, the parties hereby waive any provision of law which renders any provision hereof prohibited or unenforceable in any respect. 

  
 13 

 9.12 Entire Agreement. This Agreement, including the signature pages, Exhibits
and any confidentiality agreement between the Company and the Investor constitute the entire agreement among the parties hereof with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both oral
and written, between the parties with respect to the subject matter hereof and thereof. 
 9.13 Further Assurances. The parties
shall execute and deliver all such further instruments and documents and take all such other actions as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the agreements herein contained.

 9.14 Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of
Delaware. Service of process in connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world by the same methods as are specified for the giving of notices under this Agreement. Each of the parties
hereto irrevocably agrees that any such suit, action or proceeding with respect to this Agreement and the rights and obligations arising hereunder, or for recognition and enforcement of any judgment in respect of this Agreement and the rights and
obligations arising hereunder brought by the other party hereto, shall be brought and determined exclusively in the Delaware Court of Chancery and any state appellate court therefrom within the State of Delaware (or, if the Delaware Court of
Chancery declines to accept jurisdiction, any state or federal court within the State of Delaware). Each of the parties hereto hereby irrevocably submits to the personal jurisdiction of the aforesaid courts for purposes of this Agreement and agrees
that it will not bring any such suit, action or proceeding relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than the aforesaid courts. 

9.15 Specific Performance. The parties hereto agree that irreparable damage would occur if any provision of this Agreement were
not performed in accordance with the terms hereof and, accordingly, that the parties shall be entitled an injunction or injunctions to prevent breaches or threatened breaches of this Agreement or to enforce specifically the performance of the terms
and provisions hereof, in addition to any other remedy to which they are entitled at law or in equity. Each of the parties hereby further waives (a) any defense in any action for specific performance that a remedy at law would be adequate and
(b) any requirement under any law to post security or a bond as a prerequisite to obtaining equitable relief. 
 [remainder of page
intentionally left blank] 

  
 14 

 IN WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized
officers to execute this Agreement as of the date first above written. 
  

			
	COMPANY:
	
	ASANA, INC.
		
	By:	 	 /s/ Tim Wan

	Name:	 	Tim Wan
	Title:	 	Chief Financial Officer

  
 [Signature Page to
Securities Purchase Agreement] 

 
			
	INVESTOR:
		
		 	 /s/ Dustin Moskovitz

	Name:	 	Dustin Moskovitz

  
 [Signature Page to
Securities Purchase Agreement] 

 EXHIBIT A 

Schedule of Investors 
  

									
	 Investor Name
	  	Number of Shares	 	  	Aggregate Purchase Price of
Shares	 
	 Dustin Moskovitz
	  	 	19,273,127	 	  	$	350,000,000

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