Document:

EX-10.7

 Exhibit 10.7 

MASTER SERVICES AGREEMENT 

BETWEEN 
 GENERAL
ELECTRIC COMPANY 
 AND 

GLOBOFORCE LIMITED 

  
 CERTAIN CONFIDENTIAL PORTIONS OF
THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT
UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 

 TABLE OF CONTENTS 

 

							
	1.	 	 SCOPE AND PROVISIONS OF SERVICE
	  	 	1	  
			
	2.	 	 CHARGES, PAYMENT, AND TAXES
	  	 	2	  
			
	3.	 	 PRICE [*****]
	  	 	3	  
			
	4.	 	 TERMS AND TERMINATION
	  	 	3	  
			
	5.	 	 COMPANY AND GLOBOFORCE OBLIGATIONS
	  	 	3	  
			
	6.	 	 BOOKS AND RECORDS
	  	 	4	  
			
	7.	 	 REPRESENTATIONS AND WARRANTIES
	  	 	5	  
			
	8.	 	 INTELLECTUAL PROPERTY/OWNERSHIP
	  	 	6	  
			
	9.	 	 CONFIDENTIALITY
	  	 	7	  
			
	10.	 	 INDEMNIFICATION
	  	 	8	  
			
	11.	 	 INSURANCE
	  	 	8	  
			
	12.	 	 COMPLIANCE WITH COMPANY’S POLICIES
	  	 	9	  
			
	13.	 	 PERSONAL DATA PROTECTION
	  	 	11	  
			
	14.	 	 RELATIONSHIP BETWEEN THE PARTIES
	  	 	13	  
			
	15.	 	 QUALITY ASSURANCE
	  	 	14	  
			
	16.	 	 ALTERNATIVE DISPUTE RESOLUTION
	  	 	14	  
			
	17.	 	 LIMITATION OF LIABILITY
	  	 	15	  
			
	18.	 	 GENERAL PROVISIONS
	  	 	16	  

  

			
	Attachment 1	    	Statement of Work
	Attachment 2	    	GE T&L Policy
	Attachment 3	    	Guidelines for Workers Assigned to GE Security Sensitive Positions
	Attachment 4	    	Guidelines for Acceptable Use of Information Resources
	Attachment 5	    	GE Third Party Information Security Policy
	Attachment 6	    	GE’s Integrity Policy - Sharing the Commitment to Integrity
	Attachment 7	    	GE Employment Data Protection Standards
	Attachment 8	    	Standard Contractual Clauses for Controller-to-Processor Transfers

  
 CERTAIN CONFIDENTIAL PORTIONS OF
THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT
UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 

 

 
 MASTER SERVICES AGREEMENT 

This master services agreement (“Agreement”) dated as of June 1, 2009 (the “Effective Date”) is entered into between Globoforce
Limited with its principal place of business at 6 Beckett Way, Park West Business Park, Dublin 12 Ireland (“Globoforce” or “Service Provider”) and GENERAL ELECTRIC COMPANY (“Company” or “GE”), a New York
corporation with its principal place of business at 3135 Easton Turnpike, Fairfield, Connecticut 06431, on behalf of itself and for the benefit of all its subsidiaries and affiliates, as defined herein. Globoforce and Company shall collectively be
referred to herein as the “Parties” and individually a “Party.” In consideration of the premises and the mutual promises set forth in this Agreement, the Parties, intending to be legally bound, agree as follows: 

 

	1.	SCOPE AND PROVISION OF SERVICES 

 1.1 Globoforce agrees to provide Company with
the services and deliverables described in individual statements of work, substantially in the similar form as Attachment 1 (“SOW(s)”) and related attachments. All SOW’s shall be in writing and signed by an authorized agent of
the Company (or as otherwise specified herein) and Globoforce. Company shall not be responsible for any costs incurred by Globoforce for Services performed without an executed SOW. Unless otherwise distinguished in this Agreement,
“services” and “deliverables” shall collectively be referred to as “Services.” Work Product means all information and materials generated by Globoforce in connection with providing Services including, but not limited
to: i) software codes and programs and/or pages in machine-readable object code form or human readable source code form related to the provided services, ii) manuals, written reports and other written or online materials and information related to
the provided services, and iii) oral, email based, written and online materials and information related to the provided services. Notwithstanding the foregoing, Work Product shall exclude “Globoforce Information” (as hereinafter defined).
Upon execution of any SOW, or shortly thereafter, Company shall issue Globoforce a Company purchase order detailing, for example, the price, place of delivery, invoicing information and quantity (“Purchase Order”). It is expressly agreed
that any terms and conditions contained in such Purchase Order shall be superseded by the terms and conditions of this Agreement. Globoforce may not invoice Company until Company issues Globoforce a Purchase Order on or before commencement of any
Services. 
 1.2 Scope. Globoforce shall perform Services related to the “Programme” as set forth more specifically in the
SOW. Service Provider acknowledges and agrees that Services purchased under this Agreement may be used by Company on behalf of itself and, at no additional expense to Company, for the benefit of its subsidiaries and affiliates world-wide. An
affiliate (“Affiliate”) of Company shall mean any entity directly or indirectly controlling or controlled by, or under direct or indirect common control of Company whether now existing, or subsequently created or acquired during the term
of this Agreement (including, without limitation, joint ventures or other entities in which any such entity is a shareholder). Any subsidiary or Affiliate of Company world-wide (collectively “Business Component”) which uses the Services,
whether the right to use passes directly to that entity or not, shall be entitled to all of the rights and interests of Company under this Agreement and may enforce this Agreement in its own name. Notwithstanding, all such rights, interests and
enforcement shall be in connection with specific SOW’s that such Business Component has entered into with Service Provider. Each Business Component shall be severally liable for its obligations under each SOW it directly enters into with
Globoforce and shall be bound by and solely responsible for performance of all of the obligations, including, without limitation, payment obligations, under this Agreement. 

When accepted by Globoforce, by means of the signature of an authorized Globoforce representative, each SOW specifies the Services to be
provided by Globoforce with respect to such SOW, and Globoforce shall provide GE all such Services specified therein, within the timelines set forth in such SOW, and for the fees agreed to by the Parties. Globoforce’s personnel shall in no
event be considered employees or agents of GE, nor shall they be entitled to or eligible, by reason of the contractual relationship hereby created, to participate in any benefits or privileges given or extended by GE to its employees. Nothing
contained herein shall constitute a minimum commitment by GE to purchase Globoforce’s Services hereunder and Globoforce has not relied on any representation, oral or written, to the contrary. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
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 1.3 Inspection and Acceptance. All Services shall be subject to inspection and test by GE
at all times and places. If any Services is found at any time to be defective, or otherwise not in conformity with the requirements of this Agreement and any applicable SOW, GE, in addition to such other rights, remedies and choices as it may have,
in its sole discretion may require Globoforce to re-perform, at Globoforce’s expense, any defective portion of the Services. If Globoforce is not able or is unwilling to correct the Services within a reasonable time, GE may (a) reject and
return such Work Product and Globoforce shall refund to GE the portion of the fees relative to the defective Work Product under the applicable SOW; or (b) take such actions as may be required to cure all defects and/or bring the portion of the
defective Work Product into conformity with the requirements as set forth in the applicable SOW, with all directly related costs and expenses, thereby incurred by GE reimbursed by Globoforce, subject to the limitation of liability as provided in
section 17 of this Agreement. 
 1.4 Change Orders. The Parties hereto may modify a Statement of Work by a written document properly
executed by both Parties (“Change Order”). Either Party may notify the other in writing whenever such Party identifies the need to provide services in addition to or different from those described in this Statement of Work, and the Parties
shall mutually agree on the scope of such changes. Where applicable, Change Orders shall include a cost estimate for services to be provided by Globoforce. 
  

	2.	CHARGES, PAYMENT, AND TAXES 

 2.1 Fees. In consideration of the Services
provided to GE under this Agreement, each Business Component shall pay to Globoforce the fees in accordance with the rates set forth in each SOW. The Parties further agree that no other costs or expenses shall be reimbursed to Globoforce, unless
these are incurred with GE’s prior written approval. 
 2.2 Payment. Globoforce shall invoice Company, or its Business Component
no later than [*****] days after completion of the Services, or as specified in the applicable SOW or Purchase Order. In order to be deemed acceptable, each invoice shall include, at minimum: Globoforce’s name and address, Company’s
Purchase Order number, a description of Services, the total dollars billed, and any other information expressly agreed to by the Parties in writing. All fees [*****] shall be due and payable to Globoforce within forty-five (45) days from the
date a correct invoice is received and approved by Company and meeting the requirements of the first sentence of this sub-section. Approval of correct invoices received by Company shall generally take place within five business days of invoice
receipt. If invoices are approved after this period, the approval date for computation of the payment due date shall be deemed to be five business days from receipt of correct invoice. See applicable SOW for further details regarding Payment. It is
the sole responsibility of the Business Component issuing a particular SOW or Purchase Order directly with Globoforce to make any and all payments pursuant to that SOW or Purchase Order. 

2.3 Taxes. GE shall be responsible for any and all sales taxes, use taxes and any other similar taxes and charges of any kind imposed by
any federal, state or local government or agency on the transactions contemplated by this Agreement, excluding only income taxes based solely on Globoforce’s receipt of income pursuant to the terms of this Agreement. 

2.4 Late Payments. The parties specifically agree that Company or any Business Component SHALL HAVE NO LIABILITY (NOR INCUR ANY
OBLIGATIONS OR RESPONSIBILLTY FOR) ANY ACTIONS OR OMISSIONS OF ANY BUSINESS COMPONENT OR AFFILIATE UNDER THIS AGREEMENT OR ANY SOW PLACED HEREUNDER TO WHICH COMPANY IS NOT A SIGNATORY. 

2.5 Invoicing. Globoforce shall invoice GE monthly unless otherwise expressly specified in any SOW. GE shall issue a purchase order on
or before commencement of Services under the applicable SOW. All invoices submitted by Globoforce shall include reference to the purchase order as required by GE. Invoices shall be mailed to the address set forth in the applicable SOW. Each invoice
submitted by Globoforce will provide supporting detail for the Services invoiced and shall be submitted in a form that fully complies with the VAT, GST, or similar tax laws. 

GE’s process for receipt of invoices may become electronic during the term of this Agreement. Upon notice to Globoforce of institution by
GE of the electronic process, and within thirty (30) days of such notice, Globoforce shall begin submitting invoices thought GE’s electronic processing system. 

2.6 Unless otherwise agreed to in writing, all necessary and reasonable travel, living and other related out of pocket expenses (“T&L
Expenses”) to be incurred by Globoforce shall be included within the Fee structure set forth in 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
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the applicable SOW. To the extent Company agrees in writing to reimburse Globoforce, Company shall reimburse Globoforce for reasonable out-of-pocket travel, lodging and meal expenses actually
incurred by Globoforce Personnel in accordance with Company’s T&L policy (attached hereto as Attachment 2), as may be amended from time to time. Globoforce shall either invoice T&L Expenses separately or clearly itemize such
expenses on its invoices to Company. 
  

	3.	PRICE [*****] 

 3.1 All of the prices, terms, warranties and benefits granted by
Globoforce herein are [*****]. 
  

	4.	TERMS AND TERMINATION 

 4.1 This Agreement shall commence on the Effective Date
and shall remain in effect for a period of five (5) years. In the event any SOW is in effect at the time of expiration of this Agreement, the terms and conditions of this Agreement shall remain in effect for the duration of such SOW. 

4.2 Company retains the right to terminate this Agreement or any SOW for any reason whatsoever (including with exclusive reference to one or
more beneficiaries or services) by giving Globoforce one hundred and eighty (180) days prior written notice designating the termination date. In such case, Company shall pay Globoforce its reasonable costs incurred for work performed prior to
issuance of such termination. Globoforce shall provide substantiation of such costs upon request. If this Agreement is terminated, and Company elects, Globoforce will complete all work in process as defined in the SOW(s) and adhere to the terms and
conditions contained in this Agreement. Company may terminate this Agreement or any SOW if Service Provider is in breach of such SOW or the Agreement and has not cured the breach within sixty (60) days after written notice specifying the
breach. Consent to extend the cure period shall not be unreasonably withheld, so long as the Service Provider has commenced a cure during the sixty-day notice period and expeditiously pursues cure of the breach in good faith. 

4.3 Either party may terminate any SOW if the other party is in material breach of such SOW and has not cured the breach within sixty
(60) days after written notice specifying the breach. Consent to extend the cure period shall not be unreasonably withheld, so long as the breaching party has commenced a cure during the sixty-day notice period and expeditiously pursues cure of
the breach in good faith. 
 4.4 Termination of this Agreement shall not limit either party from pursuing any other remedies available to it,
including injunctive relief, nor shall termination relieve Company or a Business Component, as applicable, of its obligation to pay all charges that have accrued prior to such termination. Globoforce’s obligations under this Agreement, which by
their nature would continue beyond the termination, cancellation or expiration of this Agreement (including, without limitation, any obligation to indemnify Company hereunder and the provisions relating to confidentiality and intellectual property)
shall survive termination cancellation or expiration of this Agreement. 
  

	5.	COMPANY AND GLOBOFORCE OBLIGATIONS 

 5.1 Company or Business Components shall
designate a Project Manager(s) who shall be Globoforce’s primary contact with respect to a particular SOW. Neither the Project Manager(s) nor any other Company employee or representative shall have the right to control the manner, means, or
method by which Globoforce performs the Services. Rather, Company shall be entitled only to specify the elements of Services to be performed by Globoforce and the results to be derived by Company, to inform Globoforce as to where and when such
Services shall be performed, and to review and assess the performance of such Services by Globoforce for the limited purposes of assuring that such Services have been performed in accordance with this Agreement. 

5.2 Company shall, at all times, have the right to reject or have removed immediately from the provision of Services hereunder, any employee,
worker, leased-worker, personnel, consultant, subcontractor or subcontractor’s employees (“SP Personnel”) provided by Globoforce to perform Services. The exercise of this right shall be independent of any alleged breach by Globoforce
of this Agreement. Globoforce shall pay the costs of familiarizing any replacement SP Personnel with the project and Company agrees that time deadlines and cost estimates, if any, may require adjustment as a result of replacing SP Personnel unless
removal is for good cause. Company may request to interview and approve any replacement SP Personnel prior to such individual’s commencement of Services for Company; Company’s approval shall not be unreasonably withheld. Globoforce shall
be responsible for maintaining satisfactory standards of personnel competency, conduct and integrity, and shall be responsible for taking such disciplinary action with respect to all such SP Personnel as may be necessary. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 3 

 5.3 if either party wishes to make a change to any of the Services or the Deliverables, or the
method or timing of performance of the Services or take any action that shall impact on the performance or delivery of the Services or the Deliverables or the total cost to Company of the Services, such party shall present the proposed change to the
other party, in writing. Any change in scope must be mutually agreed to in writing by the Parties. 
 5.4 From time to time, or as specified
in a particular SOW, Company may request reports from Globoforce stating, among other things: (a) list of outstanding SOW’s; (b) status of uncompleted Services; (c) total hours billed; (d) total dollars billed; and/or
(e) Globoforce’s performance and productivity. Globoforce will also provide all data, documents, reports and/or certifications as reasonably requested by the Company from time to time, as evidence of Globoforce’s compliance to any
applicable legal requirement, laws or otherwise. 
 5.5 If Globoforce receives a request by any governmental entity to submit any report or
data related to the Services, Globoforce will, upon receipt of any such request and prior to the submission of any such reports or data to such governmental entity, notify the Company and provide Company with copies of such submissions, unless
restricted by law from doing so. 
 5.6 Each party agrees to comply with all relevant export laws and regulations of the United States, EU
Member States and EU (“Export Laws”), as applicable, to assure that neither any software deliverable, if any, nor any direct product provided hereunder, if any (i) is exported, directly or indirectly, in violation of Export Laws, or
(ii) is intended to be used for any purposes prohibited by the Export Laws, including without limitation, nuclear, chemical, biological weapons proliferation or impermissible military end use (e.g., use prohibited by Article 4 of Council
Regulation (EC) No 1334/2000 as amended, or by Part 744 of the Export Administration Regulations (15 CFR 730 et seq.)). 
  

	 	5.7	Compliance with Government Conflict of Interest Laws. 

 Globoforce acknowledges that individuals
who have performed work for, or been employed by, governmental entities and agencies (including, without limitation, those of the U.S. federal or U.S. state governments) may be subject to conflict of interest and “revolving door”
restrictions. As such, Globoforce agrees to implement appropriate conflict of interest screening mechanisms. Globoforce also represents and certifies that it and its employees shall comply with all such conflict of interest regulations and laws,
including, but not limited to: 5 C.F.R.§§ 2635 et seq., 18 U.S.C. §§ 203, 204, 207, and 208, and Federal Acquisition Regulation Subpart 3.104 et seq, and/or any similar laws in the applicable jurisdiction for which the Services
are being rendered. 
 5.8 Company shall have the following responsibilities: 

(a) Make all necessary personnel available to Globoforce during all phases of any project(s) as specified in related
SOW’s; 
 (b) Provide Globoforce with access to Company building sites and other facilities, data center, network,
servers, printers, information storage space and workstations as necessary subject to Globoforce’s compliance with the provisions contained in this Agreement and Company’s or any applicable Business Component’s reasonable safety and
security policies; and 
 (c) For on-site services, provide Globoforce with access to analog telecommunication lines and a
desk, cubicle or office space for use during performance of the Services as specified in the SOW. 
  

	6.	BOOKS AND RECORDS 

 6.1 Globoforce shall maintain, at its offices, complete and
accurate books and records, supporting data and other sufficient detail relating to the provision of Services hereunder in accordance with, and for such period as required by, generally accepted accounting principles, or applicable law. Globoforce
agrees to maintain such records for seven (7) years from date of creation or receipt, or for such longer period as may be required by Company for: (i) financial or tax purposes by any government agency, or by any law, rule or regulation,
or (ii) in connection with any ongoing or threatened litigation, suit or proceeding. 
 6.2 Company, its employees, agents and
representatives, shall have the right at any time during normal business hours, and with no less than seventy-two (72) hours notice, to inspect and audit such books and records which may involve performance under, or transactions related to,
any of the Services, or which will permit an adequate 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 4 

 
evaluation of the costs and fee data related thereto, and/or Globoforce’s compliance to any sections of this Agreement. Adjustments in favor of Company arising from any such audit of
Globoforce shall be recognized as an adjustment of any future payment due Globoforce or, if no future payment is due Globoforce, Globoforce shall promptly pay the amount of any such adjustment to Company. Globoforce shall cooperate fully with
Company or its designees in connection with audit functions or any inspections. Globoforce shall permit Company or its representatives to have reasonable access to the site(s) where the work under this Agreement is performed in order to assess the:
work quality, conformance with Company’s specification, and conformance with Globoforce’s representations, warranties and covenants under this Agreement. 

6.3 Return of Materials. Upon termination or expiration of this Agreement, or any SOW, each party shall promptly upon written request
return to the other, all papers, material and other properties of that other held by each for the purposes of and in connection with this Agreement. Globoforce shall deliver to GE a copy of all files in a format acceptable to GE. In addition, each
party at their own cost and expense will assist the other in orderly termination or expiration of this Agreement and the transfer of all aspects hereof, tangible and intangible, as may be the reasonably necessary for the timely, orderly, and
non-disrupted business continuation of each party. 
 Specifically with respect to GE, Globoforce shall provide GE and its subsidiaries and
affiliates, the reasonable termination/expiration assistance as requested by GE to allow the Service to continue without interruption or adverse effect and to facilitate the orderly transfer of the Service to GE provided GE has paid all amounts due
under the Agreement. Globoforce is not responsible for transfer of the hosted web sites or Globoforce information. 
 Globoforce acknowledges
that, in the event it breaches (or attempts or threatens to breach) its obligation to provide GE termination/expiration assistance as provided in this Agreement, GE will be irreparable harmed. In such a circumstance, GE may process to obtain
equitable relief. 
 6.4 Material Change to Globoforce’s Business. Globoforce shall deliver to GE, simultaneously with
Globoforce’s public release of such information, an electronic copy of all press releases and Security and Exchange Commissions (SEC) filing, if any, relating to a material change to Globoforce’s business. Such press releases and SEC
filings shall be delivered to such person as GE may designate from time to time. 
  

	7.	REPRESENTATIONS AND WARRANTIES 

 7.1 Warranty. Globoforce warrants that it
will perform its obligations hereunder in a good and workman like manner, and that all Services hereunder will be performed by qualified individuals in a professional and workmanlike manner conforming to high industry standards and practices, be
free of any malicious or intentionally harmful defects or disabling mechanisms, and in accordance with all applicable laws, including without limitation those relating to immigration and equal employment opportunity, regulations, codes and standards
of government agencies or authorities having jurisdiction, and any deliverables or results will conform to any required specifications in the relevant SOW. Globoforce warrants that is has an established and implemented program in place that provided
for the internal control over financial reporting, whether for internal, external, private or public purposes. The major intent of which is the prevention of fraud and the standardization of its accounting policies and procedures. Globoforce shall
evaluate the effectiveness of such program as it relates to providing the Services to GE on an annual basis and shall report such evaluation by the first day of October in each year of this Agreement. Globoforce further warrants that it has
established an effective program to ensure any supplier it utilizes to provide material Services under this Agreement that are related to its internal controls over financial reporting shall also be in conformance with the above or, to the extent
such supplier is publicly traded U.S. company, be in the compliance with Section 404 of the Sarbanes Oxley Act of 2002. 
 Furthermore,
Globoforce will supply to GE standard documents, which such documents shall be materially similar in substance to those documents commonly used in accounting profession, attesting that it has in place controls that are effective and have been tested
by a third party, such as an outside auditor, that monitor and ensure compliance with such programs and financial reporting. Such third party testing will be done annually during the term of this agreement. 

For the avoidance of doubt, during each calendar year of this Agreement, Globoforce hereby agrees to the 3rd party audit completed prior to
reporting to GE on its evaluation of its internal controls related to financial reporting. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
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 7.2 Disclaimer. EXCEPT AS SET FORTH IN SECTION 7.1 AND 7.3, GLOBOFORCE MAKES NO WARRANTIES
TO GE, EITHER EXPRESS OR IMPLIED, AND HEREBY DISCLAIMS ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NONINFRINGEMENT WITH RESPECT TO THE PROGRAMME, OR ANY MATERIALS OR SERVICES FURNISHED OR PROVIDED TO GE
HEREUNDER. 
 7.3 Globoforce further represents and warrants that: 

(a) it will be solely responsible for procuring and maintaining all necessary permits and licenses of governmental entities
required in connection with Globoforce’s performance of the Services, including, where applicable, processing and procuring all necessary visas, work permits, and passport documents for its employees in advance of their assignment in connection
with provision of any Services. Globoforce will use commercially reasonable efforts to obtain all such permits, licenses and visas in a timely manner to avoid any unnecessary delay. Globoforce will ensure that all of its personnel providing Services
are in compliance with all visas, passports, and work permits being used by them; 
 (b) in carrying out its responsibilities
under the Agreement, it shall not pay, offer or promise to pay, or authorize the payment directly or indirectly of any monies or anything of value to any government official or employee or any political party or candidate for political office, for
the purpose of inducing or rewarding any favorable action in any commercial transaction or in any governmental matter, and it has and will maintain and enforce its own company policy requiring adherence to ethical business practices, including a
prohibition on bribery of government officials; 
 (c) it has established an effective program to ensure any suppliers or
subcontractors it utilizes to provide any Services or goods that will be supplied under this Agreement will be in conformance with this Agreement. 
  

	8.	INTELLECTUAL PROPERTY/OWNERSHIP 

 8.1 Each Party hereto has arranged for all
necessary elements, licenses, rights and permissions required for its performance under this Agreement and shall also furnish and/or arrange for all necessary elements, rights, and permissions required for the other Party to exercise its rights
hereunder. Except as otherwise expressly provided herein, nothing in this Agreement grants to any Party any right, title or license to the other Party’s intellectual property rights. Upon termination of this Agreement, all rights granted in
this Section shall automatically terminate and each Party agrees to immediately cease using or displaying the intellectual property of the other Party and destroy all copies of such intellectual property. 

8.2 GE shall, at all times, retain all right title and interest in all GE Confidential Information and GE Supplied Information. GE Supplied
Information means all GE Confidential Information, Personal Data, all trademarks and service marks owned by Company or associated with a GE Web site, all concepts, methods, utilities, designs, text, images, computer code, copyrights and related
materials supplied by GE or GE’s other consultants and service providers, and all software provided by GE or made available to Globoforce by GE. GE hereby grants to Globoforce a non-exclusive, non-transferable, limited license to use GE
Confidential Information and GE Supplied Information under the terms and conditions of this Agreement to provide Services hereunder. 
 8.3
Globoforce shall own own all right, title, and interest in Globoforce Information. Globoforce Information means materials developed by Globoforce, (including, but not limited to, Globoforce’s vendor lists, programme concepts, promotional
materials, and the programme web sites created by Globoforce, and trade secrets, trademarks, patents and copyrights relative to such materials). However, to the extent that Globoforce Information is incorporated within any Work Product or is
necessary to allow GE to fully utilize any Work Product in accordance with this Agreement, Globoforce agrees to grant and hereby grants to GE an irrevocable, fully-paid, royalty-free, nonexclusive worldwide license to use Globoforce Information in
connection with the use of such Work Product during the duration of this Agreement. 
 8.4 Globoforce shall indemnify and hold GE harmless
against and shall handle and defend against any claim, suit, or other proceeding brought against GE if any Work Product or Services performed by Globoforce or any product of such Work Product or Services, including any element(s) of such Work
Product or Services, constitutes an actual violation or infringement of any patent, copyright, trade secret, or other proprietary information rights, except the rights of the owner, author, sellers, or licensors of, or the service providers for, any
software, hardware, or firmware on which GE directs Globoforce to work or perform Services. Such indemnification shall be provided in accordance with Section 10.2 below. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
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 GE shall indemnify and hold Globoforce harmless against and shall handle and defend against any
claim, suit or other proceeding brought against Globoforce if any GE Supplied Information constitutes an actual violation or infringement of any patent, copyright, trade secret, or other proprietary information rights. 

8.5 This clause 8 will survive the expiry of termination of this agreement. 

8.6 GE Supplied Information is, and will remain, the property of Company. This Agreement does not grant, or otherwise give, Globoforce
ownership in, or other rights to, GE Supplied Information or any other Company intellectual property or proprietary materials, except for the express license to Globoforce set forth in Section 8.2. 

8.7 Notwithstanding the foregoing, the Parties may agree in a particular SOW that any technology and intellectual property developed, licensed
or purchased by Globoforce under such SOW will be owned by Globoforce and licensed to the Company, in which case such technology or intellectual property will be deemed Globoforce Information. 

 

	9.	CONFIDENTIALITY AND PROPRIETARY INFORMATION 

 9.1 As used in this Agreement,
“Confidential Information” shall mean, with respect to either party, all information and data, including Company Personal Data (as hereinafter defined), whether technical or non-technical, in any medium, furnished or made available
directly or indirectly by one party (the “Disclosing Party”) to the other (the “Receiving Party”) in connection with this Agreement, that includes without limitation: (i) information that is marked confidential, restricted,
proprietary, or with a similar designation, or if not so designated, that the Receiving Party would reasonably be expected to assume is confidential due to its nature, (ii) computer software and programs (including object code and source code),
database technologies and systems (and related information technology); (iii) Customer Solutions; (iv) all information concerning the operations, affairs, methods, transactions and businesses of the Disclosing Party (including without
limitation, ideas, marketing plans, business plans or strategies, business volumes or usage, data and other information that are trade secrets or are competitively sensitive), the financial information or affairs of the party, pricing information
and the relations of the party with its employees and Globoforces; (v) Company’s nonpublic personal information relating to its customers and (vi) the terms and conditions of this Agreement. Each party’s Confidential Information
shall remain the property of that party except as expressly provided otherwise by the other provisions of this Agreement. 
 9.2 Confidential
Information shall not include information that the Receiving Party can demonstrate: (i) is or becomes publicly available through no wrongful act or omission of the Receiving Party; (ii) is obtained by the Receiving Party from a third party
without a breach of such third party’s confidentiality obligations; (iii) was in the possession of the Receiving Party at the time of disclosure without any confidentiality obligations; or (iv) was independently developed by the
Receiving Party without reference to Confidential Information. 
 9.3 The Receiving Party shall protect the Disclosing Party’s
Confidential information against unauthorized use or disclosure using at least those measures that it takes to protect its own Confidential Information of a similar nature, but no less than reasonable care, and shall not use or disclose the
Disclosing Party’s Confidential Information for any purpose except in connection with its performance of this Agreement. Notwithstanding the foregoing, Company may disclose Globoforce’s Confidential Information to any Business Component;
provided, however, each person to whom such Confidential Information is disclosed is subject to confidentiality obligations comparable in scope to those herein. 

9.4 Upon request of the Disclosing Party or upon termination of this Agreement, or the applicable SOW, all materials containing Confidential
Information will be destroyed or returned to the Disclosing Party and the Receiving Party will retain no copies or reproductions of the Confidential Information unless required by law, except the Receiving Party may retain one record copy for
archival purposes, subject to the reasonable instructions of the Disclosing Party with respect to such copy. 
 9.5 In the event of any
unauthorized use or disclosure or loss of any Confidential Information of the Disclosing Party, the Receiving Party shall promptly, at its own expense: (i) notify the Disclosing Party in writing; (ii) take such actions as may be necessary
or reasonably requested by the Disclosing Party to minimize the violation or the damage resulting therefrom; and (iii) cooperate in all reasonable respects with the Disclosing Party to minimize the violation and any damage resulting therefrom.

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 7 

 9.6 The Receiving Party acknowledges that any actual or threatened violation of this Section may
cause irreparable, non-monetary injury to the Disclosing Party, the extent of which may be difficult to ascertain, and therefore agrees that the Disclosing Party shall be entitled to seek injunctive relief in addition to all other remedies available
at law and/or in equity. 
 9.7 Should the Receiving Party be compelled by court decree, subpoena or other requirements of law to disclose
any of the Confidential Information, it shall promptly notify the Disclosing Party in writing, and use reasonable good faith efforts to: (a) disclose only the specific Confidential Information legally required to be disclosed; and
(b) assist the Disclosing Party (if and to the extent requested by the Disclosing Party) in obtaining a protective order or other appropriate assurances that the confidential nature of the Confidential Information shall be protected and
preserved. 
 9.8 The foregoing obligations shall be continuing and binding for a period of five (5) years following the date of
termination of this Agreement or applicable SOW; Personal Data confidential obligations shall extend until such time as the information is no longer confidential; trade secrets shall extend for as long as the relevant information qualifies as a
trade secret under applicable law. 
  

	10.	INDEMNIFICATION 

 10.1 Each party (the “Indemnifying Party”) will
defend, indemnify and hold harmless the other party (the “Indemnified Party”), and the respective directors, officers, employees and agents of the Indemnified Party, from and against any and all claims, costs, losses, damages, judgments
and expenses (including reasonable attorneys’ fees) arising out of or in connection with the indemnifying party’s breach of representations or warranties or covenants set forth in this Agreement, gross negligence, intentional act or
omission or fraud. 
 10.2 The foregoing indemnities are conditioned on: (a) the Indemnified Party notifying the Indemnifying Party in
writing within thirty (30) days of such Loss, provided, however, that the failure of the Indemnified Party to give the Indemnifying Party such written notice will not relieve the Indemnifying Party of its obligations hereunder except to the
extent such failure materially prejudices (or results in material prejudice to) the Indemnifying Party defense of such claim; and (b) the Indemnified Party providing the Indemnifying Party with the assistance, information, and authority
reasonably necessary to perform the above; reasonable out-of-pocket expenses incurred by the Indemnified Party in providing such assistance will be reimbursed by the Indemnifying Party. Indemnifying Party will thereafter keep the Indemnified Party
promptly and fully informed regarding all material developments with respect to such Loss. In no event shall the Indemnifying Party by its action or inaction, or by default, concede or admit liability, or enter into any judgment or settlement
regarding any indemnified Loss without the Indemnified Party’s prior written consent, which such consent shall not be unreasonably withheld or delayed. If the Indemnified Party has to sue the Indemnifying Party to enforce this indemnity, the
Indemnifying Party shall reimburse the Indemnified Party for all legal fees and expenses the indemnified Party incurs in connection with such enforcement. The Indemnified Partyy reserves the right, at its own expense, to participate in the defense
of any matter otherwise subject to indemnification by the Indemnifying Party. 
  

	11.	INSURANCE 

 Globoforce shall maintain, during the term hereof, all insurance
and/or bonds required by law and the following minimum insurance coverage: 
 11.1 Workers’ Compensation Insurance, or equivalent
insurance, as required by the State(s) or jurisdictions in which the Service is to be performed. 
 11.2 Employer’s Liability Insurance
with limits of not less that [*****] per occurrence or any amount required by applicable law whichever is greater. 
 11.3 Commercial General
Liability Insurance, on an occurrence basis, including buy not limited to (premises-operation, broad form property damage, contractual liability, independent contractors, personal injury) with limits of at least [*****] combined single limit for
each occurrence. 
 11.4 Professional Liability, Errors and Omission Insurance, with limits of not less than [*****] per occurrence. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 8 

 11.5 Excess Liability Insurance, in the Umbrella form and on an occurrence basis covering loss in
the excess of the limits of Commercial General Liability Insurance and Employer’s Liability, with limits of at least [*****] combined single limit for each occurrence. 

11.6 Comprehensive Crime Policy on an occurrence basis, with limits of at least [*****] per occurrence. 

All insurance policies required to be carried by Globoforce hereunder shall (1) as of the Effective Date be placed with insurance
companies holding a General Policyholders rating of “A” and a Financial Rating of “Vlll” or better, as set forth in the most current issue of Best’s Insurance Guide; and (2) contain a provision that the insurance
provided hereunder shall be primary and non-contributing with any other insurance. 
 GE shall be named as a named additional insured on the
Commercial General Liability Insurance, and Excess Liability Insurance policies required under this Agreement. Each such insurance policy carried by Globoforce shall grant waiver of subrogation on all policies referenced above, except for the
Professional Liability, Errors and Omission Insurance and the Comprehensive Crime Policy. 
 Globoforce shall, within ten (10) days of
the Effective Date, furnish certificates or adequate proof of the foregoing insurance to GE 
 Globoforce shall also require Its
subcontractors, if any, as may be permitted hereunder, to maintain appropriate insurance and to agree to furnish GE, if required, certificates or adequate proof of such insurance. Certificates furnished by Globoforce or its subcontractors shall
contain a clause stating that “GE is to be notified in writing at least thirty (30) days prior to cancellation of, or any material change, in the Policy.” 
  

	12.	COMPLIANCE WITH COMPANY’S POLICIES 

 12.1 Safety and Security
Policies. Globoforce agrees to use reasonable efforts to cause any SP Personnel who provide Services under this Agreement to comply when on Company’s premises with Company’s standard safety and security policies that Company
communicates to such SP Personnel, to the extent that such policies are applicable to the site where such SP Personnel is providing Services. 

12.2 Drug Use Policies. Unless conflicting to any laws where the Services are being provided, Globoforce will advise any SP Personnel
who provides Services under this Agreement on Company’s premises of Company’s right to require an initial drug screen prior to the commencement of the assignment and, further, to require a drug screen at any time during the assignment
either: (i) if Company believes in good faith that the SP Personnel is under the influence of an illegal substance, or (ii) as a consequence of an accident caused by or involving the SP Personnel on Company’s premises during the
performance of this Agreement and likely to have been related to the SP Personnel’s use of an illegal substance. Any drug screen shall be performed by Globoforce at Globoforce’s expense and Globoforce will address any positive results and
handle accordingly. SP Personnel will not be permitted to perform the Services if a positive result of said drug screen is determined. 

12.3 Background Checking. 

(a) Globoforce shall prior to (and every three (3) months thereafter for so long as such SP Personnel are performing the
Services) (i) deploying any SP Personnel on a recurring basis (whether everyday, once a week, month or fiscal quarter) at any Company location, facility or work site, or (ii) granting access to any Company Personal Data or Company networks
(i.e., having a Company issued single sign-on account) to SP Personnel to perform the Services, and after securing appropriate written authorization from its SP Personnel, perform a watchlist screen to ensure that no SP Personnel is included on a
Government List (as defined herein) prohibiting Globoforce, as the employer, from engaging in financial or other transactions with any SP Personnel. Government List is defined as including the following lists: 

 

	 	•	 	Consolidated List of Financial Sanctions Targets (formerly the Bank of England Consolidated List) 

  

	 	•	 	Bureau of Industry and Security Lists 

  

	 	•	 	Consolidated List - Australia 

  

	 	•	 	Consolidated List - Canada 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 9 

	 	•	 	DTC Debarred List 

  

	 	•	 	EU Consolidated List 

  

	 	•	 	FBI Most Wanted Terrorists 

  

	 	•	 	FBI Seeking Information 

  

	 	•	 	FBI Top Ten Most Wanted 

  

	 	•	 	FBI Most Wanted 

  

	 	•	 	Interpol Most Wanted 

  

	 	•	 	Ministry of Export, Trade, and Investment (METI) - Japan 

  

	 	•	 	Monetary Authority of Singapore List 

  

	 	•	 	OFAC Sanctions Programs 

  

	 	•	 	OFAC list of Specially Designated Nationals and Blocked Persons 

  

	 	•	 	Primary Money Laundering Concern List (US Department of the Treasury List of Financial Institutions Specially Designated as Being of Primary Money Laundering Concern) 

 

	 	•	 	State Department Proliferation List 

  

	 	•	 	Terrorist Exclusion List 

  

	 	•	 	United Nations Consolidated List 

 In addition, for SP Personnel providing services in the United States,
Globoforce shall also assure the SP Personnel’s status to rightfully work in the United States through compliance with the Immigration and Naturalization Service’s I-9 process (“I-9 Check”). For SP Personnel providing services in
jurisdictions outside the United States, Globoforce shall assure that such SP Personnel comply with local law requirements in such jurisdictions with respect to the right to work in such jurisdiction. 

(b) In addition, and at Globoforce’s expense, Globoforce’s SP Personnel who are deployed in positions that Company,
in its sole discretion, determines to be “security sensitive,” Globoforce shall, with respect to such SP Personnel 

(i) exercise its commercially reasonable efforts to assure that none of its SP Personnel pose a threat to the safe working
environment at the Company site, or a threat to the integrity of the business operations; 
 (ii) perform an identity check;

 (iii) perform a criminal record check through an authorized background-reporting agency covering at least a seven
(7) year time period, and including all locations in which the SP Personnel resided during that period; 
 (iv) verify
the past seven (7) years of employment (position or job title held, dates of employment and duties) or the last three positions, whichever is greater; 

(v) utilize the document “GE Guidelines for SP Personnel Assigned to Security Sensitive Positions,” which is attached
hereto as Attachment 3, in complying with the above provision; 
 (vi) upon request by Company, and to the extent
permitted by local law in jurisdictions outside the United States, verify the SP Personnel’s highest level of education and conduct a driving record search; 

(vii) use a background reporting agency that includes in-person searches of county courthouse records, where such records are
available (e.g. United States, Mexico, etc.; and 
 (viii) not place any SP Personnel with Company if any such SP Personnel
lied or failed to disclose any prior criminal conviction, on his or her pre-placement or employment application. 
 (c)
Globoforce shall maintain as records any such background checks for the duration of the Term, or any Renewal Term, and for three (3) years thereafter. 

(d) At Globoforce’s request, and with Company’s approval, Company shall provide the names of its background checking
suppliers to Globoforce to utilize to conduct the foregoing background checks. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 10 

 12.4 Technology and Data. 

(a) Globoforce agrees to adhere to the Company information technology security guidelines detailed herein to the extent such
requirements are applicable to the Services. 
 (b) Company IT Security Guidelines: 

(i) If Globoforce has access to Company’s e-mail, computers, systems, electronic storage media or networks, Globoforce
shall adhere to the requirements contained in the “Guidelines for Acceptable Use of Information Resources” (Attachment 4); and 

(ii) If Globoforce will host and/or house any Company data (including, but not limited to, Confidential Information and Company
Personal Data) or if Globoforce’s network will be connected to Company’s network, Globoforce shall adhere to the requirements contained in the “GE Third Party Information Security Policy” (includes requirement for questionnaire
and onsite review) (Attachment 5). 
 (c) Company and Globoforce shall agree in good faith to additional security
requirements in order to render Company/Globoforce environments secure, and Globoforce shall implement such changes to comply with Company’s security guidelines and/or requests. 

12.5 Other Policies. Globoforce will supply and review with all SP Personnel who provide Services under this Agreement a copy of
Company’s Integrity Guide for Suppliers (Attachment 6), and to cause each SP Personnel to comply with such policies to the extent that such policies are applicable to the activities conducted by the Globoforce and SP Personnel in
performing the Services. 
  

	13.	PERSONAL DATA PROTECTION 

 13.1 Definitions: 

(a) “Personal Data” is any information relating to an identified or identifiable natural person (“Data
Subject”). 
 (b) “Company Personal Data” includes (i) Personal Data provided to Globoforce by or on
behalf of Company; (ii) Personal Data (from whatever source) being Processed by Globoforce on behalf of Company; (iii) Personal Data (from whatever source) pertaining to Company personnel; and (iv) Personal Data created by Globoforce
based on data in section (i), (ii) or (iii) above. 
 (c) “Processing” of Personal Data shall mean and
include any operation or set of operations which is performed upon Personal Data, whether or not by automatic means, such as collection, recording, organization, storage, adaptation or alteration, retrieval, accessing, consultation, use, disclosure
by transmission, dissemination or otherwise making available, alignment or combination, blocking, erasure or destruction. 

(d) “Affiliate” with respect to either party shall mean any entity, including without limitation, any individual,
corporation, company, partnership, limited liability company or group, that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such party. 

13.2 Globoforce acknowledges that it may be the recipient of Personal Data during the course of the performance of its obligations under this
Agreement. Globoforce agrees that with respect to Personal Data, howsoever received, it shall at all times: 
 (i) maintain
such Personal Data in the strictest confidence using the same degree of care that it uses in safeguarding its own confidential information, but in no event less than a reasonable degree of care, and using procedures that shall prevent the
intentional or unintentional disclosure or use of Personal Data in violation of this Agreement, 
 (ii) use such Personal
Data only to fulfill its contractual obligations under this Agreement, 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 11 

 (iii) disclose such Personal Data only to such of its officers, employees and
agents as have a need to know such Personal Data in connection with the performance of the obligations under this Agreement and then only after each such person has been advised of the obligations and restrictions contained herein, 

(iv) not disclose Personal Data to third parties without having first received express written approval from GE, and 

(v) immediately upon GE’s request or at the termination or expiration of this Agreement or after recipient no longer needs
to use the Personal Data to perform its obligations under this Agreement, return or destroy at GE’s option, all such Personal Data to GE (including any information which may contain or reflect any Personal Data), confirming such destruction to
GE in writing. The Parties acknowledge that this Section 13.2(v) shall not prevent Globoforce from retaining copies of Personal Data to the extent that it is required to do so to provide evidentiary matter for financial transactions related to
the issuance of awards and award usage for seven years from the transaction date or legal purposes. 
 13.3 Globoforce shall obtain and
maintain in effect, written agreements with each of the personnel who participate in providing Services hereunder, containing terms sufficient for Globoforce to comply with its obligations under section 13. 

13.4 Globoforce shall implement technical and organizational measures to ensure the security and confidentiality of Personal Data in order to
prevent, among other things: (i) accidental, unauthorized or unlawful destruction, alteration, modification or loss of Personal Data, (ii) accidental, unauthorized or unlawful disclosure or access Personal Data, (iii) unlawful forms
of processing of Personal Data. The security measures taken shall be in compliance with applicable data protection regulation and shall be adapted to the risks represented by the processing and the nature of the Personal Data to be processed, having
regard to the state of the art and the cost of implementation. Globoforce shall immediately inform GE of any breach of this security and confidentiality undertaking. 

13.5 Failure by Globoforce to comply with the obligations set forth in this Agreement relating to Personal Data is considered a material breach
of this Agreement. 
 13.6 Globoforce understands and agrees that GE may use any “Contact Information” (such as name, address,
telephone number, e-mail address, etc.) provided by Globoforce or any of its representatives for purposes reasonably related to the performance of this Agreement, including but not limited to payment administration, and that such contact information
may be transferred to and stored in a global database located in the United States of America and maintained by GE or one of its affiliates. Globoforce agrees that it will comply with all legal requirements (e.g., obtaining consent of the Data
Subject, where required) prior to the transfer of any Contact Information or other Personal Data to GE. The Contact Information will not be given to third parties outside the General Electric Company family of companies. GE will take appropriate
measures to ensure that Contact Information is stored securely and in conformity with applicable data protection laws. 
 13.7 Globoforce
shall notify Company in the most expedient time possible under the circumstances and without unreasonable delay of any Security Breach involving any Company Personal Data, where “Security Breach” is defined as any event involving an
actual, potential or threatened compromise of the security, confidentiality or integrity of the data, including but not limited to any unauthorized access or use, or any broader circumstances as defined in any applicable local law. Globoforce shall
also provide Company with a detailed description of the Security Breach, the type of data that was the subject of the Security Breach, the identity of each affected person, and any other information Company may request concerning such affected
persons and the details of the breach, as soon as such information can be collected or otherwise becomes available. Globoforce agrees to take action immediately, at its own expense, to investigate the Security Breach and to identify, prevent and
mitigate the effects of any such Security Breach, and to carry out any recovery or other action (e.g., mailing statutory notices) necessary to remedy the Security Breach. The content of any filings, communications, notices, press releases, or
reports related to any Security Breach (“Notices”) must first be approved by Company prior to any publication or communication thereof to any third party. Globoforce shall pay for or reimburse Company for all costs, losses and
expenses relating to any Security Breach, including without limitation, the cost of Notices; any such costs, losses and/or expenses shall not in any way be limited under this Agreement. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 12 

 13.8 Globoforce shall comply with all applicable laws and regulations pertaining to Personal Data
protection, and will process “Employment Data” consistent with the “GE Employment Data Protection Standards,” attached hereto as Attachment 7. In particular, when Personal Data is collected by Globoforce from a Data
Subject directly during the course of Globoforce’s performance under this Agreement, Globoforce shall: provide the Data Subject with the information required by applicable laws and regulations; permit access by the Data Subject to the Personal
Data collected about him/her; and, when necessary, obtain the consent of Data Subjects. Globoforce must, however, seek and obtain prior written approval from Company regarding the scope of Personal Data to be collected and the consent language to be
used. 
 13.9 Company reserves the right to conduct at any time, subject to a prior written fifteen (15) days notice, an on-site
verification of Globoforce’s compliance with obligations relating to Company Personal Data, up to six (6) months after the termination of this Agreement or for so long as Globoforce retains any Company Personal Data. Globoforce shall
provide access to all applicable facilities, equipment and records in order to conduct such verification. 
 13.10 Upon termination of this
Agreement, for whatever reason, Globoforce shall stop all Processing of Company Personal Data and shall, unless required to provide evidentiary matter for financial transactions related to the issuance of awards and award usage for seven years from
the transaction date or legal reasons, return to Company any copies and reproductions of Company Personal Data. These undertakings remain in force even after termination of this Agreement for whatever reason. 

13.11 If in the course of the Parties’ performance of this contract, any Personal Data will be transferred from a member state of the
European Union (EU) to a jurisdiction outside the EU that has not been declared “adequate” for personal data protection by the European Commission, the party becoming aware of this situation will inform the other, and Company and
Globoforce (or other Processor, if approved by Company) will enter into the Standard Contractual Clauses for Controller-to-Processor Transfers (attached as Attachment 8. 

 

	14.	RELATIONSHIP BETWEEN THE PARTIES 

 14.1 Independent Contractor. Globoforce
is an independent contractor. Nothing in this Agreement shall be construed to create a partnership, joint venture, or agency relationship between the Parties. Nothing in this Agreement shall be interpreted or construed as creating or establishing
the relationship of employer and employee between Company and either Globoforce or any SP Personnel or agent of Globoforce. Each party will be solely responsible for payment of all compensation owed to its employees, as well as federal and state
income tax withholding, social security taxes, and unemployment insurance applicable to such personnel as employees of the applicable party, and each party shall bear sole responsibility for any health or disability insurance, retirement benefits,
or other welfare or pension benefits (if any) to which such party’s employees may be entitled. Neither Globoforce or SP Personnel shall have any right or authority to assume or create any obligation of any kind expressed or implied in the name
of or on behalf of Company. 
 14.2 Notice. All notices, including notices of address change, required to be sent hereunder shall be
sent by facsimile (with the original to promptly follow by applicable national mail service or overnight courier), by overnight courier, or transmitted electronically. Notices will be deemed given on the date delivered to the recipient if sent by
fax or overnight courier (it being agreed that the sender shall retain proof of transmission or delivery, as the case may be), or when accessible electronically if sent electronically under the preceding paragraph. Notices shall be sent to the
Parties respective Project Managers as identified in a relevant SOW with a copy to the following persons (or as otherwise directed by a party): 

Company: 
 Lori Jacon 

1 River Road 
 Schenectady NY
12345 
 518-388-7618 

Globoforce: 
 Globoforce Limited

 Attn: legal department 
 6
Beckett Way, Parkwest Business Park, Dublin 12, Ireland 
 Fax #353-1-625-8801 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 13 

 14.3 Non-Solicitation. Each party agrees that it will not hire or solicit for employment,
any of the employees, workers or consultants of the other party, without the written consent of the party, for at least one (1) year following the completion or termination of this Agreement; however, if either party does so hire, the hiring
party shall pay the current finders fee in the industry for such hire. It is understood and agreed that a party who responds to an advertisement for employment that is available to the general public shall not be in violation of this Section. 

14.4 Business Continuity Plan. In the event Company identifies Globoforce as a critical supplier, and at Company’s request,
Globoforce will prepare, maintain and comply, at no additional cost to the Company, with a Business Continuity Plan (“BCP”) designed to ensure that it can continue to provide the Services in accordance with this Agreement and each SOW in
the event of a disaster or other BCP-triggering event (as such events are defined in the applicable BCP). Globoforce’s BCPs will include, at a minimum, the following items: 

(a) Risk Assessment and Mitigation. A determination of the potential range of adverse interruptions to Globoforce, the causes
of the potential interruptions and the nature of any policies and practices in place that would mitigate such potential interruptions. Risk mitigation procedures shall provide for: (i) the retention, rotation, and retrieval of data and files;
(ii) and obtaining critical resources necessary for recovery. Globoforce shall identify a back-up service site and procedures for transferring operations. 

(b) Business Impact Analysis. An analysis of all business functions related to the services and the effect that a specific
disaster may have upon them. 
 (c) Business Recovery Strategies. Identification of current and future critical
operations/processes and the strategies to recover such operations/processes. 
 (d) Emergency Response Procedures.
Documentation of procedures to activate an immediate, orderly response to emergency situations. 
 (e) Procedures to address
potential disruptions to Globoforce’s supply chain. Globoforce shall require the same minimum levels of business continuity planning of its critical suppliers as required herein this section. 

(f) Maintenance Testing and Training Procedures. Globoforce shall develop and maintain an emergency contact list for Company
and establish a defined escalation process for notification of Company in the event of an interruption. Globoforce shall identify and train key team personnel. 

(g) Globoforce will maintain the BCP, update it quarterly and test it at least annually. Upon Company request, Globoforce shall
provide Company a copy within 30 days of plan updates and test results. 
  

	15.	QUALITY ASSURANCE 

 15.1 Globoforce shall be responsible for the specific quality
performance and productivity provisions and documentation requirements, if any, set forth in the applicable SOW. Globoforce shall, in addition, be responsible for imposing the applicable quality assurance requirements on its subcontractors. Company
shall have the right to conduct quality audits and to perform or witness inspections or tests of the Services and Deliverables, as may be applicable, furnished hereunder, whether at Globoforce’s facility or at Company’s site, at no charge
to Company by Globoforce, at any time during manufacture and prior to shipment. 
  

	16.	ALTERNATIVE DISPUTE RESOLUTION 

 16.1 In the event of any dispute between the
Parties hereto arising from or relating to this Agreement, then, upon the written request of either party, each of the Parties will appoint a designated representative to endeavor to resolve such dispute. The designated representatives will be
executives with sufficient authority to engage in good faith negotiations and bind the party s/he represents. If the designated representatives are unable to resolve the dispute within a reasonable period (but in no event more than thirty
(30) days from the date of receipt of written request, then the dispute will be escalated to representatives of each party at least one (1) level higher in their respective 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 14 

 
organizations than those involved in the previous round of negotiations. Except if a court determines preliminary injunctive relief is warranted upon application of one of the Parties to this
Agreement, no formal proceedings relating to such dispute may be commenced until the escalated representatives conclude in good faith that amicable resolution through continued negotiation of the matter in issue does not appear likely. If the
escalated representatives are also unable to resolve the dispute within a reasonable period, (but in no event more than sixty (60) days from the date of receipt of written request), the Parties shall submit the dispute for non-binding mediation
by a single mediator in accordance with the rules of the CPR Institute for Dispute Resolution (www.cpradr.org) (“CPR”) or, when either of the Parties is not a U.S. entity, with the ADR rules of the International Chamber of Commerce
(“ICC”), utilizing rules and procedures in place at the time of the dispute. Such mediator shall be competent in any technical, employment law or other issue(s) involved in the dispute. In the event the Parties are unable to resolve the
dispute within thirty (30) days of commencement of the mediation, or if one party fails to participate in the mediation as agreed herein, either party may refer the dispute to arbitration by a sole arbitrator (for disputes arising under an SOW
for $5 million or less) or 3 arbitrators (for claims arising under an SOW over $5 million) in accordance with the CPR Rules for Non-Administered Arbitration of Business Disputes then currently in effect, or, when either of the Parties is not a U.S.
entity, in accordance with the arbitration rules of the ICC. Unless otherwise agreed by the Parties, the mediator shall be disqualified from serving as arbitrator in the case. The place of arbitration shall be New York, New York, and the language of
the arbitration shall be English. The arbitration shall be governed by the Federal Arbitration Act and judgment upon the award rendered by the arbitrator(s) may be entered by any court having jurisdiction thereof. The Parties will participate in the
arbitration in good faith, and will share equally in the administrative costs of the mediation and arbitration. The arbitrator shall not be empowered to award damages in excess of compensatory damages, and each party irrevocably waives all rights to
recover such non-compensatory damages with respect to any Dispute resolved by arbitration hereunder. Globoforce irrevocably waives all objections to venue, jurisdiction of the court, and right to trial by jury in any judicial action, proceeding or
claim ancillary to an arbitration arising out of this Agreement. 
  

	17.	LIMITATION OF LIABILITY 

 17.1 Company’s total liability to Service Provider
for all claims or suits of any kind, whether based upon contract, tort (including negligence), warranty, strict liability, or otherwise, for any losses, damages, costs or expenses of any kind whatsoever arising out of, resulting from, or related to
the performance or breach under an SOW of this Agreement shall, under no circumstances, exceed the fees paid and/or due and payable under such SOW. Company shall not, under any circumstances, be liable for any special, exemplary, indirect,
incidental, cover, punitive, or consequential losses or damages, costs, or expenses whatsoever, including loss of use, revenue or profit, arising in contract, warranty or in tort (including negligence) or any other legal theory, even if Company has
been advised of the possibility of same. Notwithstanding the foregoing, nothing herein shall limit or exclude Company’s liability for: (i) damages or losses arising from its gross negligence, willful misconduct or fraud; (ii) its
willful misappropriation of the Service Provider’s Software or Intellectual Property; (iii) bodily injury, death or damage to tangible or real property; (iv) damages or losses to the extent attributable to Company’s failure to
comply with any applicable law or regulation in connection with this Agreement subject to a maximum liability of [*****] with respect to consequential damages, or (v) any other damages or losses that cannot be limited as a matter of law. 

17.2 Per each twelve (12) month period commencing on the Effective Date set forth above and each anniversary thereafter (the
“Agreement Year”), Service Provider’s total liability to Company for all claims or suits of any kind, whether based upon contract, tort (including negligence), warranty, strict liability, or otherwise, for any losses, damages, costs
or expenses of any kind whatsoever arising out of, resulting from, or related to the performance or breach under an SOW shall not, under any circumstances, exceed the greater of (i) the annual transaction fees paid by Company to Globoforce in
the given Agreement Year, or (ii) [*****]. Service Provider shall not, under any circumstances, be liable for any special, exemplary indirect, incidental, cover, punitive, or consequential losses or damages, costs, or expenses whatsoever,
including loss of use, revenue or profit, arising in contract, warranty or in tort (including negligence) or any other legal theory, under an SOW, even if Service Provider has been advised of the possibility of same. Notwithstanding the foregoing
limitation and exclusions, nothing herein shall limit or exclude Service Provider’s liability for, nor shall the following comprise any of the foregoing limitation amounts, any: (i) damages or losses (including defense costs) arising
directly in connection with any claim subject to indemnification under Section 10; (ii) damages or losses arising from its gross negligence, willful misconduct or fraud; (iii) damages or losses arising from its breach of its
confidentiality and personal data protection obligations contained in the Agreement or applicable SOW; (iv) bodily injury, death or damage to tangible or real property; (v) any employment-related claim (including TUPE) concerning
Globoforce employees, subject to a maximum liability of [*****] with respect to consequential damages; (vi) damages or losses to the extent attributable to Service Provider’s failure to comply with

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 15 

 
any applicable law or regulation in connection with providing the Services, subject to a maximum liability of [*****] respect to consequential damages; (vii) government fines, penalties,
taxes, filing fees and related costs, to the extent attributable to Service Provider’s failure to comply with the applicable terms and conditions of this Agreement and/or applicable law, subject to a maximum liability of [*****] with respect to
consequential damages; or (ix) any other loss or damage that cannot be limited as a matter of law. It is understood and agreed by Company and Service Provider that, notwithstanding anything herein to the contrary, in the event of a non-material
breach of the Agreement, and Company elects to exercise its termination rights as provided for in this Agreement or applicable SOW’s but, if Service Provider is still able to fully perform its obligations hereunder, Company shall not have the
right to seek cover or expectancy damages whatsoever and shall not be able to recoup the costs or expenses of seeking and/or hiring another service provider. The foregoing in no way prevents Company from seeking recovery for all other damages and/or
losses suffered, as may be limited herein, due to said non-material breach, in the event of termination by Company associated with a material breach by Service Provider, Company may be able to seek cover damages subject to the liability caps above.

  

	18.	GENERAL PROVISIONS 

 18.1 Severability. If any provision of this Agreement
is illegal or unenforceable, its invalidity shall not affect the other provisions of this Agreement that can be given effect without the invalid provision. If any provision of this Agreement does not comply with any law, ordinance or regulation,
such provision, to the extent possible, shall be interpreted in such a manner so as to comply with such law, ordinance or regulation, or, if such interpretation is not possible, it shall be deemed to satisfy the minimum requirements thereof. 

18.2 Assignability/Subcontractors. 

(a) Unless otherwise approved or agreed in writing, Globoforce shall not assign, delegate or subcontract any of its rights or
responsibilities under this Agreement to any third party or entity, and this Agreement may not be involuntarily assigned or assigned by operation of law, without the express written consent of Company, which consent shall not be unreasonably
withheld. 
 (b) If Company consents to the use of any subcontractors and/or consultants provided by Globoforce to perform
the Services, such subcontractors and/or consultants shall be engaged to do so under written contracts with Globoforce under terms and conditions no less restrictive than those set forth herein,, including but not limited to Sections 7 and 12.
Globoforce shall also ensure that each subcontractor has obtained and maintains all licenses required in connection with the Services for which such subcontractor is responsible. Globoforce shall include in its subcontracts provisions substantially
equivalent to those in this Agreement and, where applicable, equivalent to those in an SOW between any Business Component and Globoforce, to the extent such terms and conditions are relevant to the Services to be provided by the subcontractor
(including, without limitation, a restriction on the subcontractor’s right to further subcontract its obligations without Company’s or such Business Component’s prior written consent), and shall identify Company and, where applicable,
such Business Component, as a direct and intended third party beneficiary thereof. Upon Company request from time-to-time, an officer of Globoforce shall certify in writing that each subcontractor is in full compliance with this Section. 

(c) Notwithstanding the foregoing, it is understood and agreed that Globoforce may without notice to Company subcontract
certain ministerial and non-core responsibilities, including by way of example and not limitation, mailing and copying, provided that such ministerial and non-core responsibilities do not involve the handling or processing of Company Personal Data.

 (d) Globoforce shall remain responsible, as primary obligor, for all obligations performed by subcontractors to the same
extent as if such obligations were directly performed by Globoforce, including any acts or omissions by the subcontractors. In no event shall Globoforce be relieved of its obligations under this Agreement as a result of its use of any
subcontractors. Globoforce shall supervise the activities and performance of each subcontractor and shall be jointly and severally liable with each such subcontractor for any act or failure to act by such subcontractor. If Company and/or Business
Component determines that the performance or conduct of any subcontractor is unsatisfactory, Company and/or Business Component may notify Globoforce of its determination in writing, indicating the reasons therefor, in which event Globoforce promptly
shall take all necessary actions to remedy the performance or conduct of such subcontractor or, if such remediation is not possible, replace such subcontractor. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 16 

 (e) Any attempt by Globoforce to so assign or delegate any of the foregoing
(except as permitted, above) without consent as provided for herein shall be void. Notwithstanding the above, Globoforce may assign this Agreement upon written notification to Company to any entity which acquires all of (or substantially all of) the
assets or voting stock of Globoforce. 
 (f) If a Business Component is either, sold, divested, spun-off by Company to a
third party or entity or otherwise ceases to be a Business Component of Company (“Sold Business”), during the Term of this Agreement, and such Business Component has at least 30,000employees, then such Business Component shall be entitled
to sign a new service agreement within 180 days of the divestiture directly with Globoforce, containing similar pricing and Services to those currently offered to GE under an existing SOW. For Sold Business with employee population between 10,000
and 30,000, then Globoforce and the Sold Business shall negotiate in good faith a contract based on Globoforce’s then current pricing, taking into consideration the services and pricing under the existing GE SOW, for the services to be offered
the new entity that contains the Sold Business. 
 18.3 Governing Law. This Agreement shall be construed and enforced in accordance
with, and governed by, the substantive laws of the State of New York, United States of America, without regard to the conflict of laws principles thereof, and all actions arising out of or relating to this Agreement must be brought in the State of
New York. The application of the United Nations Convention on the International Sale of Goods is hereby excluded. Globoforce agrees that it will not object to the choice of New York law or arbitration in New York in any proceeding to adjudicate a
dispute under this Agreement or to enforce an arbitral award related to this Agreement. 
 18.4 Advertising/Publications. As a
material obligation of this Agreement and except as otherwise required by law, Globoforce or its agents shall not release information with respect to the existence or terms of this Agreement or an amendment or any other document thereto and shall
not use the name, logo, trademarks, photographs, or any reference either direct or indirect of Company or any Business Component in advertising, marketing, public relations or similar publications (such as, but not limited to, marketing brochures,
press releases, case studies or references). Company does not contemplate providing any such consent and is under no obligation, express or implied, to provide any such consent, and, in the event that any such consent should be granted for a
particular communication, Company shall not be under any further obligation to provide consent in any future request. 
 18.5 Electronic
Communications. Any document properly transmitted and received by the other party by computer access shall be considered a writing delivered in connection with this Agreement. Electronic documents shall be deemed received by a party when
accessible by the recipient on the computer system. 
 18.6 Waiver. The waiver by either party of any default or breach of this
Agreement shall not constitute a waiver of any other or subsequent default or breach. The Parties’ failure at any time to enforce any of the provisions of this Agreement or any right or remedy available hereunder or at law or equity, or to
exercise any option herein provided will in no way be construed to be a waiver of such provisions, rights, remedies or options or any other term, condition or covenant of this Agreement, or in any way to affect the validity of this Agreement. The
exercise by Company or Globoforce of any rights, remedies or options provided hereunder or at law or equity shall not preclude or prejudice the exercising hereunder of the same or any other rights, remedies or options. 

18.7 Force Majeure. Neither party shall be in default or otherwise liable for any delay in, or failure of, its performance under this
Agreement or any SOW where such delay or failure arises by reason of any act of God, or any government or any governmental body, war, insurrection, the elements, strikes or labor disputes, or other similar or dissimilar cause beyond the control of
such party. Company may terminate, at its option, the whole or any part of this Agreement or any SOW if such a situation continues for thirty (30) days. 

18.8 Entire Agreement. Time is of the essence as to each and every provision of this Agreement, or the applicable SOW requiring
performance within a specified time. This Agreement and any SOW’s referencing this Agreement shall constitute the complete and final expression of agreement between the Parties and supersedes all previous or contemporaneous agreements or
representations, written or oral, with respect to the subject matter described herein. No course of prior dealings between Parties, no course of performance and no usage of trade shall be relevant to determine the meaning of this Agreement even
though the accepting or acquiescing party has knowledge of the performance and opportunity for objection. This Agreement may not be modified, supplemented or amended except in an applicable SOW or other writing signed by a duly authorized
representative of each party. Any 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 17 

 
attempted modification, addition of new terms, or submission of inconsistent terms thereto in any Globoforce document, whether or not materially different, are objected to and shall have no force
or effect upon Company unless specifically accepted by Company in writing. The Parties agree that they will contract in the English language and that there shall be no requirement to translate this Agreement or any of the documents incorporated
herein into any other language. Any section that by its nature should survive expiration or termination of this Agreement, shall remain in effect after the expiration or termination of this Agreement, including but not limited to, Sections 6,7,
8,9,10 and 17. Except as the Parties may otherwise agree, this Agreement and any SOWs, purchase orders, data, notices, shipping invoices, correspondence and other writings shall be written in the English language. In the event of any inconsistency
between any translation thereof into another language, the English language meaning shall control. 
 IN WITNESS WHEREOF, the Parties have executed this
Agreement as of the date first written above or as otherwise specified herein. 
  

									
	Executed by Company:	 		 	Executed by Globoforce:
					
	Authorized Signature:	 	 /s/ Rick Gangemi
	 		 	Authorized Signature:	 	 /s/ Stephen Cromwell

					
	Name:	 	 Rick Gangemi
	 		 	Name:	 	 Stephen Cromwell

					
	Title:	 	 Senior Sourcing Specialist
	 		 	Title:	 	 CFO

					
	Date:	 	 5/29/09
	 		 	Date:	 	 6/5/09

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  
 18 

 

 
 MASTER SERVICES AGREEMENT 

FIRST AMENDMENT 
 This Amendment to the
Master Services Agreement (the “Agreement”), dated June 1, 2009 by and between Globoforce Limited with its principal place of business at 21 Beckett Way, Park West Business Park, Dublin 12 Ireland (“Service Provider”) and
General Electric Company, a New York corporation, having an office located at 3135 Easton Turnpike, Fairfield, Connecticut 06828 (“GE”) is made as of August 27, 2013 with reference to the following: 

WITNESSETH: 
 WHEREAS, GE and Service Provider
entered into the Agreement for the provision of rewards and recognition services. 
 WHEREAS, the parties to this Amendment wish to amend the Agreement to
extend the contract terms and to include an obligation of Service Provider to agree to updated versions of certain of GE’s policies, among other provisions, all as more fully set forth below. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are acknowledged, the Parties to this Amendment agree as follows: 
 1. Amendment. 

 

	 	A.	In Section 1. SCOPE AND PROVISION OF SERVICES, sub section, 1.4 “Change Orders” is deleted in its entirety and replaced with the following: 

 

	 	1.4	Change Orders. The Parties hereto may modify a Statement of Work by a written document properly executed by both Parties (“Change Order”), attached hereto as Attachment 9. Either Party may notify
the other in writing whenever such Party identifies the need to provide services in addition to or different from those described in this Statement of Work, and the Parties shall mutually agree on the scope of such changes. Where applicable, Change
Orders shall include a cost estimate for services to be provided by Globoforce. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  

					
	Globoforce MSA- Amend#1	  	Page 19	  	

	 	B.	In Section 2. CHARGES, PAYMENT AND TAXES, sub-section 2.6 is deleted in its entirety and replaced with the following, including new Attachment 2: 

 

	 	2.6	Unless otherwise agreed to in writing, all necessary and reasonable travel, living and other related out of pocket expenses (“T&L Expenses”) to be incurred by Globoforce shall be included within the Fee
structure set forth in the applicable SOW. To the extent Company agrees in writing to reimburse Globoforce, Company shall reimburse Globoforce for reasonable out-of-pocket travel, lodging and meal expenses actually incurred by Globoforce Personnel
in accordance with Company’s T&L policy (attached hereto as Attachment 2), as may be amended from time to time. Globoforce shall either invoice T&L Expenses separately or clearly itemize such expenses on its
invoices to Company. 

  

	 	C.	In Section 4. TERMS AND TERMINATION, sub-section 4.1 is deleted in its entirety and is replaced with the following: 

 

	 	4.1	This Agreement shall commence on the Effective Date and shall remain in effect until May 31, 2019. In the event any SOW is in effect at the time of expiration of this Agreement, the terms and conditions of
this Agreement shall remain in effect for the duration of such SOW. 

  

	 	D.	In Section 12. COMPLIANCE WITH COMPANY’S POLICIES, sub-section 12.5, “Other Policies,” is deleted in its entirety and replaced with the following, including Attachment 6:

  

	 	12.5	Service Provider acknowledges that it has read the GE Integrity Guide for Suppliers, Contractors and Consultants (the “Guide”), which Service Provider acknowledges it has received as a separate data
file, but which can also be found at the following Internet address http://www.gesupplier.com/html/SuppliersIntegrityGuide.htm, attached hereto as Attachment 6, and agrees that it will comply fully with the Guide in the performance of
the Services and/or Deliverables. Where SP Personnel (as hereafter defined) will be on Company premises regularly, have access to Company’s network or sensitive information, interact with governments or customers on Company’s behalf or are
otherwise in sensitive positions, Service Provider also agrees that it will: (a) provide a copy of the Guide to SP Personnel, (b) instruct SP Personnel to comply with such documents, (c) be responsible for any failure of SP Personnel
to comply with such document, and (d) upon reasonable notice, cause relevant SP Personnel to attend and participate in compliance briefings conducted by Company representatives. 

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  

					
	Globoforce MSA- Amend#1	  	Page 20	  	

 2. Ratification. The Agreement as amended hereby is ratified by each of the parties hereto and shall remain in
full force and effect in accordance with its terms as so amended. This First Amendment set forth above is not a consent to any waiver or modification of any other terms or conditions of the Agreement and shall not prejudice any rights which any of
the parties may now or hereafter have in connection with the Agreement. 
 3. Counterparts. This First Amendment may be signed in any number of
counterparts, each of which shall be an original, and all of which taken together shall constitute a single amendment, with the same effect as if the signatures hereto and thereto were upon the same instrument. 

IN WITNESS WHEREOF, each of the Parties hereto has caused this First Amendment to the Agreement to be executed by its duly authorized officer or
representative. 
  
  

							
	 GLOBOFORCE LIMITED
  
	 		 	GENERAL ELECTRIC
	 /s/ Stephen Cromwell
	 		 	 /s/ Gloria Lewis

	By (Signature)	 		 	By (Signature)
			
	 Stephen Cromwell
	 		 	 Gloria Lewis

	Printed Name	 		 	Printed Name
			
	 Chief Financial Officer
	 		 	 Corporate Sourcing Lender

	Title	 		 	Title
			
	 8/27/13
	 		 	 8/28/2013

	Date	 		 	Date

  
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EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  

					
	Globoforce MSA- Amend#1	  	Page 21	  	

 ATTACHMENT 9 

CHANGE REQUEST FORM 
  

					
	1. Contract Information. This
Change Request Form is provided pursuant to and governed by Section 1.4 “Change Orders,” of the Master Services Agreement entered into between Globoforce (Service Provider) and General Electric as of June 1, 2009
(“Agreement”). Any term used but not defined in this Change Request Form will have the meaning given to it in the Agreement. The party receiving the Change Request shall provide a written response to the Change Request, signed by
such receiving party, on the same form (a “Change Response”). Each Change Request and associated Change Response (if any) expressly accepted by Company shall be deemed a “Change Order.” Once this Change Request Form is signed by
both parties, below, it shall be deemed a Change Order. Each Change Order shall become a part of the Statement of Work to which it relates as if initially entered into as part of that Statement of Work, and, together with such Statement of Work,
shall be governed by this Agreement.
	Contract/MSA/PSA:	 	 Change

Order No.
	 	 For Statement

Of Work No.

	2. Party Information.
	Name Of Requesting Party:	 	Name of Party to whom Submitted:	 	Date Submitted:
	 	 	 	 	 
	3. Change Request. (Attach additional
pages referencing this Section 3 as required.)
	
Change to:
 (identify one
only)
	 	Description of Requested Change
	
 ̈      Development Material

 ̈      Deliverable

 ̈      Services Task
	 	 
	4. Impact Analysis. (Required to be
filled-out with all Change Requests submitted by Service Provider and as part of all Change Responses returned to Company by Service Provider as part of a Company-submitted Change Request. Attach additional
pages referencing this Section 4 as required.)
	Resource Impact:	 	 
	Cost Impact:	 	 
	Timing Impact:	 	 
	Date Response Delivered	 	 
	5. Change Response – Acceptance or Rejection of Change
Request.
	HAVING RECEIVED, UNDERSTOOD AND AGREED with this Change Request Form, (check only one)  ̈ Company  ̈ Service Provider hereby (initial one):
	
             accepts the Change Request and desires to proceed with the change
requested hereon.

	
             rejects the Change Request and does not desire to proceed with the change
requested hereon and hereby terminates such request.

	6. Change Order. If this Change Request Form is signed by both
parties below it shall be deemed a Change Order and shall become a part of the Statement of Work to which it relates, shall be governed by the Agreement and shall be attached thereto as if initially entered into as part of the Statement of
Work.

											
	 	 	General Electric	 	 	 	 	 	Globoforce	 	 
	 		 			 
	 	 	  
	 	 	 		 	  
	 	 
	 	 	AUTHORIZED SIGNATURE & DATE SIGNED	 	 	 	 	 	AUTHORIZED SIGNATURE & DATE SIGNED	 	 
	 		 			 
	 	 	  
	 	 	 		 	  
	 	 
	 	 	PRINTED NAME & TITLE	 	 	 	 	 	PRINTED NAME & TITLE	 	 

  
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EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
  

					
	Globoforce MSA- Amend#1	  	Page 1	  	

 STATEMENT OF WORK 

“Customer” Information: 
  

			
	Customer Name:	  	General Electric
	Statement of Work Name:	  	Statement of Work #2 Global R&R Services
	Statement of Work Number:	  	Number 2

 “Service Provider” Information: 

 

			
	Service Provider Name:	  	Globoforce

 This Statement of Work (this “Statement of Work”), dated as of June 1, 2009 (the
“Effective Date”), is made by and between General Electric Company (“Customer”) and Globoforce (“Service Provider”) pursuant to the Master Services Agreement, effective as of June 1, 2009 by
and between GE and Service Provider (the “Agreement”), the terms of which are incorporated herein by reference. This Statement of Work sets forth the details for the Services and/or Deliverables described herein. Capitalized terms
not defined in this Statement of Work shall have the meanings ascribed to them in the Agreement. This Statement of Work will not become binding on Customer until Customer issues a purchase order (“Purchase Order”) for the total fees
payable hereunder. Customer will promptly notify Service Provider upon the issuance of the Purchase Order. 
  

	21.	EXECUTIVE SUMMARY. 

 This SOW shall specify the Services, scope of work, pricing
and appropriate project timelines, as well as any additional reimbursable expenses, requirements, considerations, or objectives which differ from the general provisions of the Master Services Agreement or as more fully set forth below. 

 

	22.	DURATION OF SERVICES INCLUDING RENEWAL RIGHTS. 

 The term (“Term”) of
this SOW shall commence on June 1, 2009 (the “Effective Date”) and shall expire upon May 31, 2014. In the event this SOW exceeds the Term of the Agreement, the terms and conditions of the Agreement shall remain in effect for the
benefit of this SOW only. 
  

	23.	PROJECT MANAGERS. The following persons are designated as Project Managers for the respective parties: 

  

			
	Service Provider: Globoforce
	Name:	 	Alice Ferguson
	Title:	 	Global Account Executive
	Address:	 	112 Turnpike Road, Suite 107, Westborough, MA 01581
	Phone:	 	+1(508)616-6123
	Email:	 	alicef@globoforce.com
	Fax:	 	+1(508)898-9908
		
	Customer:	 	GE
	Name:	 	Lori Jacon
	Title:	 	Service Integration Project Leader
	Address:	 	GE - Global Business Services, 1 River Road,
		 	Building 5-7 West, Schenectady, NY 12345
	Phone:	 	518-388-7618
	Email:	 	Lori.Jacon@ge.com

  
 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

Confidential 
 2 

	24.	FEES. 

 See Attachment 1 - Schedule of Fees 

 

	25.	INVOICES AND PAYMENT TERMS. 

 Notwithstanding section 2 of the Master Service
Agreement dated June 1, 2009, Globoforce shall invoice General Electric or its business component no later than [*****] days after the completion of the services. All amounts owed under this SOW shall be billed at each month-end, or more
frequent as agreed between the parties for special one-time award uploads. 
 The current month-end invoice schedule for 2009 is as follows
(these are the dates the files should be run, up to and not including): 
 Jan 1 2009 

Feb 2 2009 
 Mar 2 2009 

Mar 30 2009 
 May 4 2009 

June 1 2009 
 June 29
2009 
 Aug 3 2009 
 Aug 31 2009

 Sept 28 2009 
 Nov 2 2009

 Nov 30 2009 
 Thirty days
prior to calendar year end, the parties shall agree the invoice dates for the subsequent calendar year. 
 All fees shall be payable within
the payment structure outlined below. Payment will be made after receipt of a correct invoice and related “MIS file” (file with invoice detail used for reconciliation) by General Electric, for which approval shall be completed within five
business days of a correct invoice receipt. Credit notes to be issued by Globoforce shall not delay the approval of monthly invoices. Invoices not paid when due may accrue late charges at a rate of 1.5% per month or the maximum rate permitted
by law, whichever is lower, from the date such payment was due until the date invoice is actually paid in full. Payment term from date of invoice approval by GE: 
  

	 	•	 	[*****] awards - NET 45 days from invoice approval. For clarity, except for receipt of an invoice by GE after the 10th day of a calendar month or where the approval
process is delayed due to significant invoice errors (greater than 1% of the invoice amount is incorrect), then the payment for [*****] awards shall occur prior to the end of the following month-end. For example, invoice received by May 10th, shall be paid by GE prior to June 30th unless there are significant errors in the invoice. 

 

	 	•	 	[*****] 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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	26.	GENERAL OBLIGATIONS. 

 Service Provider (or its Project Manager, as appropriate)
shall: 
  

	 	26.1	Prepare a communication plan at the start of the project which at minimum shall provide the frequency that the party’s Project Managers shall confer (it is recommended that they confer at least once per week,
either in person or by telephone) to discuss project status, new problems, resolution or status of prior problems, prioritization, timing, staffing, budget, and any other matters deemed relevant to the project. Service Provider’s Project
Manager shall use commercially reasonable efforts to participate in all scheduled project status meetings. 

  

	 	26.2	Promptly bring to Customer’s attention any issues that could affect the timing or delivery of Services or the Deliverables. 

  

	27.	ADDITIONAL TERMS. 

 1 The following provision, to the extent it conflicts with
Section 3.1 of the Master Services Agreement, supersedes Section 3.1 of the Master Services Agreement: 
 In no case will
Globoforce increase prices under this SOW during the Term or any Renewal Term of the SOW unless mutually agreed to in writing by both parties and memorialized in an amendment to the SOW. 

 

	28.	ORDER OF PRECEDENCE. In the event of any inconsistency between the Agreement, this Statement of Work or any Change Request, the following order of precedence shall control: (a) this Statement of Work
shall take precedence over the Agreement; and (b) any Change Request(s) shall take precedence over this Statement of Work 

  

	29.	JOINT QUALITY IMPROVEMENT PROGRAM 

 GE has implemented a process/services
improvement methodology (“Six Sigma”) and proprietary training materials to support the application of that methodology. Globoforce, as a supplier of services, shall work with GE to implement a joint quality improvement program as part of
this Agreement. Globoforce shall, at a minimum, become familiar with the terms and definitions related to the Six Sigma Quality Methodology and shall be able to facilitate, cooperate and assist GE with implementing a quality program as it relates to
these services. Both parties confirm their support and commitment to develop a comprehensive quality program within thirty (30) days of the Effective Date. Globoforce shall protect as required by the terms of this Agreement, information
disclosed by GE to Globoforce that is of a proprietary and/or confidential nature, which may include both technical and business information relating to the Six Sigma Quality Methodology. All such materials shall be clearly identified as
“Proprietary” or “Confidential”. 
 Globoforce will: 

 

	 	(a)	Participate in GE team project meetings as reasonably required and mutually agreed upon to perform the Services set forth herein. 

  

	 	(b)	Help define service metrics. 

  

	 	(c)	Define and implement procedures and tasks to track and support metrics. 

  

	 	(d)	Seek ways to continuously improve the overall Services. 

  
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	30.	SERVICES. Service Provider shall perform the following Services: 

  

	 	(i)	NBCU R&R Program as outlined in Attachment 2 

  

	 	(1)	Globoforce shall maintain a second GE web site, according to the business specifications, for NBC Universal. 

  

	 	(ii)	Recipient platform (All other GE businesses programs) shall be maintained as outlined in Attachment 3 

  

	 	(1)	Corporate 

  

	 	(2)	Infrastructure 

  

	 	(3)	Commercial Finance (GE Capital) 

  

	 	(4)	Healthcare 

  

	 	(5)	Enterprise Solutions 

  

	 	(6)	C&l and Money = TBD 

  

	 	a.	Implementation Services (web site) 

 i. GE Business Specific Blueprint Specifications, will be
executed from time to time as GE Businesses come on to the program. These Specifications will contain the following for each GE Business that comes on to the program: 
  

	 	•	 	Web site implementation services and associated timeline GE Business Specific Program Manager contact information 

  

	 	•	 	Business Specific Communication Requirements 

  

	 	•	 	Specific GE Business Requirements 

  

	 	•	 	Other information as deemed necessary by GE and Globoforce 

 GE shall perform testing of the
web site after completion of the implementation work and shall complete such tests of the web site for testing. If the acceptance tests establish that the web site is performing satisfactorily and meet the specifications set forth in this SOW, GE
shall sign an Acceptance Certificate and then GE & Globoforce will agree to a launch plan. 
  

	 	(iii)	EMEA LSA Program as outlined in Attachment 4 

 Globoforce shall offer the EMEA LSA
awards on the recipient platform, according to the business specifications for the EMEA LSA Program. There shall be no further implementation fees owed for the migration of the EMEA LSA program onto the Recipient Platform Web Site. 

 

	 	(iv)	Merchant Development 

 Globoforce shall endeavor to add merchants to the platform on an ongoing
basis. GE may submit requests to Globoforce for specific merchants to be added. Additional merchants will be at no extra charge to GE where the discount levels are in line with Globoforce’s standard merchant relationship requirements. If GE
wishes to add merchants outside of these terms, a surcharge may apply. Globoforce will work with GE to identify merchant requests and highlight those that require a surcharge before adding to the GE web site. Globoforce shall not move a standard
list merchant (no surcharge) to the surcharge list without prior notification to GE and also adding an “in kind” merchant to the standard list prior to the change. In addition, if Globoforce removes a Significant Merchant (a Significant
Merchant is defined as a retailer with redemption volume in excess of [*****] per quarter for all of Globoforce’s customers combined) from the standard list, then Globoforce shall replace the merchant with an “in kind” merchant with
similar offerings at no surcharge. 

  
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 At Account Reviews, Globoforce and GE will discuss merchant development activities and discuss
any significant changes to the merchants provided. 
 GE has requested that Globoforce add merchants in certain countries that are subject
to a surcharge. 
 Merchant Development Surcharge Fees are comprised of two groups (“Surcharge Merchants in Specified Countries”
and “Named Surcharge Merchants”): 
 Surcharge Merchants in specified countries: 

Fees for Surcharge Merchants are outlined in Attachment 1 - Fee Schedule 

Surcharge Merchants in specified countries fees and merchant offering are subject to annual review by GE. 

Named Surcharge Merchants: 

Globoforce shall maintain [*****] as an option for GE employees to select in the United States. 

Fees for Named Surcharge Merchants are outlined in Attachment 1 – Fee Schedule. 

Globoforce shall offer [*****] as an option for GE employees to select in the United States. GE may elect to add [*****] at the rate outlined
in Attachment 1 by providing Globoforce thirty (30) days advance written notice. 
 Globoforce is to use commercially reasonable
efforts to move surcharge merchants to non-surcharge merchant status, which will be reviewed monthly with GE. 
  

	 	(v)	Implementation Progress Meetings 

 During each GE Business specific implementation, the GE
Program Manager will be updated daily (or otherwise as requested by the GE Program Manager) as to the progress and specific issues of such businesses implementation. 

Additional Services 
 Globoforce
and GE may agree on additional services to be provided by Globoforce on a time and materials basis at an hourly rate as set forth in the Attachment 1 - Fee Schedule for this SOW. Any custom work will be documented in a Change Order to this
Statement of Work and signed by both parties. 
 Globoforce reserves the right to impose additional charges for major upgrades or additional
functions not included in the web site as originally provided to GE (“New Features”). This would include any web site or reporting upgrade that Globoforce charges a fee to its existing customers. GE shall have the option to elect to
receive the New Feature and pay the fee or to exclude the New Feature from its web site and reporting capabilities. Any feature for which GE has paid 

  
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fees to Globoforce to implement shall not be subject to any additional upgrade charges (other than new GE enhancement requests). Globoforce, in its sole discretion, will decide if a modification
is a minor or routine upgrade or patch or if it is instead a New Feature. It is agreed and understood that GE has sole discretion to accept any upgrade or update that is offered to GE at no cost. 

Acceptance of Additional Service or development work 

GE shall perform testing of the web site after completion of Additional Services and / or development work and shall complete such tests
within the scheduled time allocation. If the acceptance tests establish that the web site is performing satisfactorily and meet the specifications set forth in this SOW, GE shall sign an Acceptance Certificate. 

Additionally, it is agreed and understood that each of the development projects are subject to the “Implementation Schedule” Service
Level established in Section 4, Service Level Requirements. 
  

	 	(vi)	Ongoing Services: 

 Globoforce shall continue the following services 

Fulfillment/IT: 
  

	 	(1)	Issue a GloboCertificate to a GE Participant when they receive an approved award. Deliver digital GloboCertificate to the award recipient via email, to be issued 120 hours after the award is approved. Deliver physical
GloboCertificate to the award nominator via mail 

  

	 	(2)	Deliver Merchant gift certificates when an award recipient redeems a GloboCertificate. Merchant gift certificates will be delivered via email or regular postal mail. 

 

	 	(3)	Web Site hosting. Globoforce shall provide Web Site hosting for GE’s Program. 

  

	 	a.	For planned website maintenance outages Globoforce shall provide GE [*****] days advance notice along with detail regarding the outage and expected duration. 

In the event that any Globocertificates or merchant certificates are lost in the mail, due to error by Globoforce, Globoforce shall be
responsible for all costs associated with the re-issuance of such certificates; provided, however, that during each 12 month period during the term of this Agreement, such liability shall be limited to no more than one-half of one
percent (0.5%) of the actual aggregate face value of all GloboCertificates. Globoforce shall provide a summary re-issuance report to GE on a quarterly basis. 

Globoforce shall monitor GloboCertificates that are not redeemed within one year of issuance. Globoforce shall provide a summary report to GE
on a quarterly basis. If such amount exceeds 10% of total awards issued during the corresponding period, then Globoforce and GE shall agree on a communication action plan to reduce such level. 

Customer Service: 
  

	 	(1)	Provide customer support via email and phone for GE employee questions regarding GloboCertificate redemptions and Web Site usage. 

  
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 Globoforce shall provide customer support (phone and email) in the following languages: English,
French, Spanish, Italian, German, and Dutch. 
 Globoforce shall monitor requirements to add additional customer support languages for the
GE program. If an already supported customer support language is a customary secondary language within the country, then Globoforce shall not be under any obligation to add the new language. To determine the need to add a new customer support
language, Globoforce and GE shall, at a minimum, review the GE employee population that speaks the language not currently supported, number of customer support requests (email or phone) that are placed in the potential new language, budgeted award
volume, and any other data or information that may be relevant. This analysis shall be reviewed during Account Reviews. Upon GE and Globoforce’s mutual agreement, which shall not be unreasonably withheld, that there is a specific need to add an
additional customer support language Globoforce shall add such language, at no additional cost to GE, within three months of agreement. 

Globoforce shall provide a customized answering service “Thank you for calling GE Global Reward and Recognition, etc.” with
dedicated GE lines for all languages mutually agreed to. 
 Globoforce shall provide to GE on a monthly basis, the top 5 customer service
reasons from both email and phone. 
 Globoforce shall send to GE, upon request, previously recorded Customer Service calls for review. 

 

	 	(2)	Provide general customer support via email and phone to GE “super users” regarding the GE global program. 

  

	 	(vii)	Professional Services: 

 Globoforce agrees to provide the following services to GE: 

Up to seven (7) half day strategic recognition workshops (one for each significant Business Component), within six months of signing of
this SOW, schedule to be mutually agreed upon by both parties. Globoforce shall provide these Strategic Recognition overviews [*****] to GE. Any additional services, communication workshops or collateral shall be mutually agreed upon between GE and
Globoforce. 
 Any additional services or collateral shall be invoiced in accordance with the Schedule of Fees or as mutually agreed between
GE and Globoforce. 
 Reporting: 

Globoforce will provide to GE periodic reports as agreed in the “Blueprint” document and listed within this SOW. 

Account Reviews: 
 Globoforce
and GE’s Program Manager will meet at a mutually agreed upon interval to discuss, at a minimum, the services provided by Globoforce, merchant development activities and service levels as described in the Service Level Agreement in Attachment
7 

  
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	 	(viii)	GE Obligations: 

 GE Publicity: During the term of this SOW, GE agrees to the following for the
benefit of Globoforce: 
 Review and approve a case study written by Globoforce regarding the GE program. Approval must be granted by GE
Program Manager prior to Globoforce’s use of the case study. Such approval will not be unreasonably withheld. Case study can include major attributes of the program, success stories, and overall customer satisfaction. The case study shall not
use the name, logo, trademarks or to be used for advertising/marketing or public relation materials. Notwithstanding section 18.4 of the Master Services Agreement dated May 1, 2009, GE will discuss the opportunity to present or review GE’s
R&R program in the industry, subject to GE’s approval of content. 
 Provide a minimum of two (2) phone references regarding
Globoforce and its services related to the GE program. 
  

	31.	PROJECTS 

  

	 	(i)	NBCU Platform Consolidation onto Recipient Platform, as outlined in Attachment 5. 

  

	 	(ii)	Consolidation of Recipient Platform into one Program, to be determined and included in Attachment 6. 

These projects are [*****]. 
  

	 	(iii)	Globoforce shall perform development projects to the two existing GE websites in according to the business specifications for each project. Globoforce shall make the following full time equivalent (FTE) resources
available for specific projects: 

  

	 	(1)	Two developers 

  

	 	(2)	One business analyst 

  

	 	(3)	20% of a FTE for system architect; DBA; implementation specialist 

  

	 	(4)	15% of a FTE for engineering project management 

 GE shall provide Globoforce ninety
(90) day advance written notice if the use of the FTE resources will no longer be funded by GE under this specific project model. If shorter notice is provided, Globoforce may Charge GE at the hourly rate if the FTE resources cannot be deployed
on other customer projects until the 90 day period has elapsed. 
 The following language regarding ownership of intellectual property from
Additional Services and development projects is mutually agreed between GE and Globoforce: 
 It is agreed and understood that the work
performed under this Statement of Work, including Additional Services and development projects, shall be considered Globoforce Information with all rights, title and interest owned by Globoforce. Globoforce grants to GE an irrevocable, fully-paid,
royalty free, nonexclusive worldwide license to use this Globoforce Information during the duration of this SOW upon payment of the fees owed listed in this SOW. 

  
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	 	(iv)	Website translation services 

 Globoforce shall maintain the Web Site in the following
languages: 
  

	 	i.	English 

  

	 	ii.	French 

  

	 	iii.	Spanish 

  

	 	iv.	Italian 

  

	 	v.	Dutch 

  

	 	vi.	German 

  

	 	vii.	Portuguese 

  

	 	viii.	Hungarian 

  

	 	ix.	Simplified Chinese 

 Globoforce shall translate the website into the following languages,
Recipient platform only, by dates mutually agreed between the parties based on respective resource allocations. 
  

	 	i.	Finnish 

  

	 	ii.	Czech 

  

	 	iii.	Polish 

  

	 	iv.	Japanese 

  

	 	v.	Korean 

 Globoforce shall translate the website into the following languages, Recipient
platform only, by dates mutually agreed between the parties based on respective resource allocations. This will be based on the definition of Major Language for determination of cost to GE. 

 

	 	i.	Russian 

 The website elements translated at no additional cost are: 

 

	 	•	 	GE Website content, as currently maintained on the Recipient Platform web site 

  

	 	•	 	Welcome Page Copy -GE Standard content 

  

	 	•	 	Program Guidelines 

  

	 	•	 	Award Wizard 

 Globoforce agrees to translate the website for additional “Major
Languages” defined as “languages with a combination of more than 1,000 GE employees and/or GE Affiliate employees who use the language as their primary language” at no extra cost to GE, provided GE commits to transact a minimum value
of [*****] of awards (cash and non-cash award values combined). This minimum value of awards shall be determined based on the award language used for the recipient of the award. If GE fails to achieve [*****] of awards (cash and non-cash award
values combined) in the first 12 months after launch of the new language website, then GE shall pay Globoforce as per fee schedule in Attachment 6 - Fee Schedules. 

 

	32.	SERVICE LEVEL AGREEMENT -GE expects that GLOBOFORCE will significantly improve the quality of service for GE. The measurement and Service Levels set forth in Attachment 7 of this SOW are intended to
measure GLOBOFORCE’S performance of Services. GLOBOFORCE will be measured against the service levels defined in this Service Level Agreement, or as modified and agreed to in subsequent Statements of Work 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Statement of Work to be executed, effective as of the
Effective Date of this Statement of Work. 
  

									
	GE	 		 		 	Globoforce Limited
					
	By:	 	 /s/ Rick Gangemi
	 		 	By:	 	 /s/ Stephen Cromwell

									
					
	Print Name:	 	 Rick Gangemi
	 		 	Print Name:	 	 Stephen Cromwell

									
					
	Title:	 	 Senior Sourcing Specialist
	 		 	Title:	 	 CFO

									
					
	Date:	 	 5/29/2009
	 		 	Date:	 	 June 5, 2009

  

  
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 Attachment 1 

To SOW #2 
 FEE SCHEDULE 

DEFINITIONS 
 “GloboCertificates”
shall mean the non-cash awards issued to GE participants in the program that may be redeemed for gift certificates from Merchants 
  

	1.	Non-Cash Transaction Fees 

 Non-cash Transaction Fee is calculated as a percentage of the
aggregate face value of all GloboCertificates (non-cash awards) issued pursuant to the program according to the volume discount table below (the “Transaction Fee”). 

The volume discount table is based on annual volume under the program and is a tiered discount (ie. a discount level when
reached applies to each dollar spent for that tier and is not retroactively applied to the lower volume tier). Globoforce shall invoice GE at [*****] during the calendar year. 

The volume discounts based on actual GloboCertificate award volume in the preceding quarter will be calculated and a credit
note, if applicable, will be issued once the respective Transaction Fee has been paid by GE. 
  

			
	 Award Volume:
	  	 Transaction Rate*:

	 [*****]
	  	 [*****]

	 [*****]
	  	 [*****]

	 [*****]
	  	 [*****]

	 [*****]
	  	 [*****]

	 [*****]
	  	 [*****]

	 [*****]
	  	 [*****]

  

	*	[*****] cap on effective transaction rate. Once the effective rate for a calendar year equals [*****] the Transaction Fee for the remainder of the calendar year shall be [*****]. 

Calendar year 2009 transaction rate will be calculated using the transaction rates from the previous MSA and SOW (effective through May 31, 2009) and
this SOW# 2 (effective June 1, 2009) prorated based on the number of months each SOW was effective during the year. 
  

	2.	Shipping & Handling Fees for Non-Cash Awards 

 GE will pay Globoforce [*****]
per Non-Cash award for S&H charges. 
  

	3.	Cash Award Transaction Fees 

 GE will pay Globoforce [*****] per Cash award. 

 

	4.	NBCU Physical Award Certificates 

 GE will pay Globoforce [*****] per NBCU award for
physical certificates. 
  

	5.	eCards Awards No charge for electronic Ecards (zero value award) issued 

  
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	6.	Website Translation Services 

 Translation fee if minimum non-cash award volume is not
met for a web site “Major Language” translation in accordance with the SOW #2 = [*****] for each western language, or [*****] for each double byte character set language. 

Globoforce shall invoice GE at the following rates for translation services not included for free per the SOW #2. 

European Languages per 1000 words 
  

	 	•	 	Dutch [*****] 

  

	 	•	 	French [*****] 

  

	 	•	 	Italian [*****] 

  

	 	•	 	German [*****] 

  

	 	•	 	Portuguese [*****] 

  

	 	•	 	Spanish [*****] 

 Asian Languages per 1000 words 

 

	 	•	 	Chinese [*****] 

  

	 	•	 	Korean [*****] 

  

	 	•	 	Japanese [*****] 

 Other language translation costs to be agreed based on requirements. 

Examples of translations for a fee, include, but are not limited to: 
  

	 	•	 	Welcome Page Copy -GE specific copy 

  

	 	•	 	Program Guidelines copy - over 12 pages of GE specific 

  

	 	•	 	Launch email - GE specific copy 

  

	 	•	 	Ongoing program emails - GE specific content 

  

	 	•	 	Newsletters - GE specific content 

  

	 	•	 	Survey - GE specific copy 

  

	 	•	 	New GE Business Starter Pack - GE Specific copy 

  

	 	•	 	HR Team training manuals 

  

	 	•	 	Manager/Employee training manuals 

  

	 	•	 	Award Wizard. 

  
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	7.	Merchant Development 

 Named Surcharge merchants in specified countries: 

From April 1, 2009 until termination of SOW#2 – [*****] fee for all Surcharge Merchant gift certificates issued subject to a maximum
fee of [*****] during the period. 
 Surcharge merchants in specified countries fees are subject to annual review by GE. The Merchant
Development Surcharge Fee shall be calculated and invoiced at the end of each calendar month. 
 Named Surcharge Merchants: 

Named Surcharge Merchant Fee - fee for all Surcharge Merchant gift certificates issued. Named Surcharge Fee shall be calculated and invoiced at
the end of each calendar month or agreed upon billing cycle. 
  

			
	Named Surcharge Merchant	  	Surcharge Fee
		
	 [*****]
	  	 [*****]

		
	 [*****]
	  	 [*****]

 Development Project Work 

Will consist of a single blended hourly rate for all development resources used as part of the GE agreement. The rate is [*****] per hour for
any GE specific development projects. Use of development resources by project shall be determined and invoiced at the end of each calendar month or agreed upon billing cycle. 
  

	8.	Minimum non-cash award commitment 

 Minimum non-cash award commitments shall be used to
determine if additional fees shall apply under this clause. The “Minimum Rotation Commitment” shall mean [*****] of the GE committed non-cash award program volume for each Calendar Year. Total program volumes for all GE Businesses combined
will be used for determination of the Minimum Rotation Commitment. Each calendar year the annual program volume shall be based on the annual projected volumes in Schedule A to SOW #1 (as may be changed at the beginning of each calendar year by GE).
If the actual non-cash award volume is less than [*****] of the annual Minimum Rotation Commitment, an additional Transaction Fee will be applied to the first invoice in the following year. The Transaction Fee shall equal the Minimum Rotation
Commitment less actual GloboCertificates issued for that year multiplied by [*****]. 
 For Businesses brought on during each year: It is
agreed and understood that during the first year a GE Business is brought on to the program, their annual commitment for non-cash awards that will be added to GE’s Minimum Rotation Commitment will be pro-rated, based on the number of months
remaining in the year, and will also exclude the first 3 months they are on the program. For example: If GE Business A comes on board in March of 2007, and their annual non-cash award commitment is [*****], the annual commitment that would be added
to the GE Minimum Rotation Commitment for 2007 would be [*****]. (Calculated as: 1st 3 months of April, May and June would be excluded, and the remaining
 1⁄2 of the year would constitute [*****] commitment). 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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	9.	Additional Services 

 GE shall be invoiced at the rate of [*****] per hour on a time and
materials basis for additional services (other than Professional Services). This will be costed and agreed in writing prior to commencement of work. 
  

	10.	Professional Services 

 Fees for Professional Services is as follows: 

Professional services to be provided at [*****] to GE are outlined in SOW #2 (section “Professional Services”). 

Additional professional service consulting engagements will be costed and agreed in advance as per requirements, and shall not exceed the
following hourly rates: 
  

	 	•	 	Senior Consultant = [*****] per hour 

  

	 	•	 	Consultant = [*****] per hour 

 All travel expenses for the above services are charged to GE at
cost. 
 All communication activities or collateral identified as a result of the above workshops will be costed as per requirements and an
estimate issued to GE for approval prior to any work commencing. 
  

	11.	Expenses. All reasonable program implementation travel expenses are included within the Implementation Services Fee previously invoiced. GE shall reimburse Globoforce for all reasonable travel and other related
expenses incurred in the performance of the Services, other than expenses incurred related to program implementation, provided prior written approval is received from GE. 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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 Statement of Work (SOW) #2 

FIRST AMENDMENT 
 This First Amendment to
the SOW #2 dated June 1, 2009 by and between Globoforce and General Electric Company, a New York corporation, having an office located at 3135 Easton Turnpike, Fairfield, Connecticut 06828, (“GE”) is made as of September 24, 2010
with reference to the following: 
 WTTNESSETH: 

WHEREAS, the parties to this First Amendment wish to amend the SOW #2 to include an obligation of Globoforce to add language to Section 7 all as more
fully set forth below. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable
consideration, the receipt and sufficiency of which are acknowledged, the parties to this First Amendment agree as follows: 
 1. Amendment. 

A. Section 7 Additional Terms is further amended by adding Subsection #2 to read as follows: NBCU Disposition: 

 

	 	•	 	Effective on the closing date of the NBCU disposition from General Electric to Comcast 

  

	 	•	 	NBCU will set up it’s own purchase order with Globoforce 

  

	 	•	 	Globoforce will start billing NBCU for R&R services directly 

  

	 	•	 	Payment terms and pricing remain the same as long as NBCU remains on the GE R&R Platform. Once NBCU is under direct contract with Globoforce, new pricing and payment terms may apply. 

 

	 	•	 	In the event that any invoices become past due, Globoforce will contact the GE Supplier Manager for assistance. 

2. Ratification. The SOW #2 as amended hereby is ratified by each of the parties hereto and shall remain In full force and effect in accordance with its terms
as so amended. This Amendment is not a consent to any waiver or modification of any other terms or conditions of the SOW #2 and shall not prejudice any rights which any of the parties may now or hereafter have in connection with the SOW #2. 

3. Counterparts. This First Amendment may be signed in any number of counterparts, each of which shall be an original, and all of which taken together shall
constitute a single amendment, with the same effect as if the signatures hereto and thereto were upon the same instrument. 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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 IN WITNESS WHEREOF, each of the parties hereto has caused this First Amendment to the SOW #2 to be executed by
its duly authorized officer or representative set forth below. 
  

					
	GENERAL ELECTRIC COMPANY	 		 	GLOBOFORCE
			
	 /s/ Rick Gangemi
	 		 	 /s/ Stephen Cromwell

	By (Signature)	 		 	By (Signature)
			
	 Rick Gangemi
	 		 	 Stephen Cromwell

	Printed Name	 		 	Printed Name
			
	 Senior Sourcing Specialist
	 		 	 CFO

	Title	 		 	Title
			
	 12/30/10
	 		 	 29 December 2010

	Date	 		 	Date

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 Page 2 

 STATEMENT OF WORK 

“Customer” Information: 
  

			
	Customer Name:	  	General Electric
	Statement of Work Name:	  	Statement of Work #3 – US Years of Service
	Statement of Work Number:	  	Number 3

 “Service Provider” Information: 

 

			
	Service Provider Name:	  	Globoforce Limited

 This Statement of Work (this “Statement of Work”), dated as of December 21, 2012
(the “Effective Date”), is made by and between General Electric Company (“Customer”) and Globoforce Limited (“Service Provider”) pursuant to the Master Services Agreement, effective as of
June 1, 2009 by and between GE and Service Provider (the “Agreement”), the terms of which are incorporated herein by reference. This Statement of Work sets forth the details for the Services and/or Deliverables described
herein. Capitalized terms not defined in this Statement of Work shall have the meanings ascribed to them in the Agreement. This Statement of Work will not become binding on Customer until Customer issues a purchase order (“Purchase
Order”) for the total fees payable hereunder. Customer will promptly notify Service Provider upon the issuance of the Purchase Order. 
  

	1.	EXECUTIVE SUMMARY. 

 This SOW shall specify the Services, scope of work, pricing
and appropriate project timelines, as well as any additional reimbursable expenses, requirements, considerations, or objectives which differ from the general provisions of the Master Services Agreement or as more fully set forth below. 

 

	2.	DURATION OF SERVICES INCLUDING RENEWAL RIGHTS. 

 The term (“Term”) of
this SOW shall commence on January 1, 2013 (the “Effective Date”) and shall expire upon December 31, 2017. In the event this SOW exceeds the Term of the Agreement, the terms and conditions of the Agreement shall remain in effect
for the benefit of this SOW only. 
  

	3.	PROJECT MANAGERS. The following persons are designated as Project Managers for the respective parties: 

  

			
	Service Provider: Globoforce
	Name:	  	Alice Ferguson
	Title:	  	Global Account Executive
	Address:	  	144 Turnpike Road, Suite 310, Westborough, MA 01772
	Phone:	  	+1(508)229-1500
	Email:	  	alicef@globoforce.com
	Fax:	  	+1(508)357-8964
		
	Customer:	  	GE
	Name:	  	Lori Jacon
	Title:	  	Service Integration Project Leader
	Address:	  	GE - Global Business Services, 1 River Road,
		  	Building 5-7 West, Schenectady, NY 12345
	Phone:	  	518-388-7618
	Email:	  	Lori.Jacon@ge.com

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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	4.	FEES. 

 See Attachment 1 - Schedule of Fees 

 

	5.	INVOICES AND PAYMENT TERMS. 

 Notwithstanding section 2 of the Master Service
Agreement dated June 1, 2009, Service Provider shall invoice Customer or its business component no later than [*****] days after the completion of the services. All amounts owed under this SOW shall be billed at each month-end, or more frequent
as agreed between the parties for special one-time award uploads. 
 The current month-end invoice schedule for 2013 is as follows (these are
the dates the files should be run, up to and not including): 
 Feb 2 2013 

Mar 2 2013 
 Mar 30 2013 

May 4 2013 
 June 1 2013

 June 29 2013 
 Aug 3
2013 
 Aug 31 2013 
 Sept 28
2013 
 Nov 2 2013 
 Nov 30 2013

 Thirty (30) days prior to calendar year end, the parties shall agree the invoice dates for the subsequent calendar year. 

All fees shall be payable within the payment structure outlined below. Payment will be made after receipt of a correct invoice and related
“MIS file” (file with invoice detail used for reconciliation) by Customer, for which approval shall be completed within five (5) business days of a correct Invoice receipt. Credit notes to be issued by Service Provider shall not delay
the approval of monthly invoices. Invoices not paid when due may accrue late charges at a rate of 1.5% per month or the maximum rote permitted by law, whichever is lower, from the date such payment was due until the date invoice is actually
paid in full. Payment term from date of invoice approval by Customer: 
  

	 	•	 	[*****] For clarity, except for receipt of an Invoice by Customer after the 10th day of a calendar month or where the approval process is delayed due to significant
invoice errors (greater than 1% of the invoice amount is incorrect), then the payment for [*****] awards shall occur prior to the end of the following month-end. For example, invoice received by May 10th, shall be paid by Customer prior to June 30th unless there are significant errors in the invoice. Customer and Service Provider agree to
jointly review the redemption levels of the [*****] awards compared to GE payments made to evaluate if payment terms of [*****] days from invoice approval are acceptable for the remainder of the SOW term. [*****]. 

 

	 	•	 	[*****] 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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	6.	GENERAL OBLIGATIONS. 

 Service Provider (or its Project Manager, as appropriate)
shall: 
  

	 	(a)	Prepare a communication plan at the start at the project which at minimum shall provide the frequency that the parties’ Project Managers shall confer (it is recommended that they confer at least once per week,
either in person or by telephone) to discuss project status, new problems, resolution or status of prior problems, prioritization, timing, staffing, budget, and any other matters deemed relevant to the project. Service Provider’s Project
Manager shall use commercially reasonable efforts to participate in all scheduled project status meetings. 

  

	 	(b)	Promptly bring to Customer’s attention any issues that could affect the timing or delivery of Services or the Deliverables. 

  

	7.	ADDITIONAL TERMS. 

 The following provision, to the extent it conflicts with
Section 3.1 of the Master Services Agreement, supersedes Section 3.1 of the Master Services Agreement: 
 In no case will Service
Provider increase prices under this SOW during the Term or any Renewal Term of the SOW unless mutually agreed to in writing by both parties and memorialized in an amendment to the SOW. 

 

	8.	ORDER OF PRECEDENCE. In the event of any inconsistency between the Agreement, this Statement of Work or any Change Request, the following order of precedence shall control: (a) this Statement of Work
shall take precedence over the Agreement; and (b) any Change Request(s) shall take precedence over this Statement of Work. 

  

	9.	SERVICES. Service Provider shall perform the following Services: 

  

	 	a)	US Years of Service Program as set forth below: 

 Creation of award templates and integration of
Years of Service awards program into global R&R program. 
 1. Years of Service (“YOS”) Awards: 

(a) provide service anniversary award notifications delivered digitally via email as well as available to employees to view in
My Awards section of Customer’s ’s Above and Beyond program to US employees working in the US. The employee may select only one redemption option from a selection of merchandise provided by Service Provider in accordance with the award
levels highlighted below 
 [*****] 

(b) provide [*****] as requested by Customer for Customer US retirees for delivery to a United States address. The [*****]
details and process for order submission shall be agreed between the parties during the Blueprint process. 
 2. Ongoing Services:
Service Provider shall perform the following services after the Program Launch for the Term of the Agreement: 
  

	 	a.	Fulfillment/IT: 

 1. Issue a GloboCertificate to a Customer Participant when
they have received a service level award. 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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 2. Deliver Merchandise when an award recipient redeems a GloboCertificate.
Merchandise shall be delivered as further detailed in the GloboCertificates Terms of Use. Additionally, Service Provider shall accept returns of Merchandise within 90 days from shipment date. Service Provider Customer Service shall work with the
Participant to either replace returned Merchandise item or select an alternate Merchandise item within the same award level. 

3. Deliver [*****] to retirees upon Customer request. 

4. It is understood and agreed by the parties that the fulfillment of Merchandise hereunder shall be performed by Globoforce
in accordance with the following minimum Service Levels and shall provide this data in a quarterly report: 
 For Services and minimum
Service Levels see the Service Performance Measurement Matrix (“SPMX”) below. 
 Service Performance Measurement Matrix (“SPMX”):

  

									
	 DESCRIPTION
	  	 Service Level
	  	 Definition /

Measurement

Criteria
	  	 Globoforce

Current

Performance
	  	 [*****]

	Fulfillment - Processing time for Merchandise	  	[*****]	  	% of Merchandise dispatched within [*****] days of order receipt	  	[*****]	  	[*****]

 b. Web Site hosting. Service Provider shall provide Web Site hosting for Customer’s
Program. 
 1. For planned website maintenance outages Service Provider shall provide Customer [*****] days advance notice
along with detail regarding the outage and expected duration. 
 c. Customer Service: 

1. Provide customer support via email and phone for Customer employee questions regarding GloboCertificate redemptions and Web
Site usage. 
 2. Service Provider shall provide to Customer on a monthly basis, the top [*****] customer service reasons
from both email and phone. 
 3. Service Provider shall send to Customer, upon request, previously recorded Customer Service
calls for review, 
 4. Provide general customer support via email and phone to Customer’s “super users”
regarding the Customer global program. 
 d. Invoicing. For US YOS [*****], Service Provider will provide to one Client
Program Manager one standard monthly detail invoice that will track Program usage and contain GlobooCertifications (awards and US YOS agreed values for each anniversary level), one standard monthly invoice that will contain the US YOS award
transaction fees, and one invoice for [*****] fees owed. 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
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 e) Implementation Progress Meetings 

During the Term, the Customer Program Manager will be updated daily (or otherwise as requested by the Customer Program Manager) as to the
progress and specific issues of such businesses implementation. 
 Additional Services 

Service Provider and Customer may agree on additional services to be provided by Service Provider on a time and materials basis at an hourly
rate as set forth in the Attachment 1 - Fee Schedule for this SOW. Any custom work will be documented in a Change Order to this Statement of Work and signed by bath parties. 

Service Provider reserves the right to impose additional charges for major upgrades or additional functions not included in the web site as
originally provided to Customer (“New Features”). This would include any web site or reporting upgrade that Service Provider charges a fee to its existing customers. Customer shall have the option to elect to receive the New Feature and
pay the fee or to exclude the New Feature from its web site and reporting capabilities. Any feature far which Customer has paid fees to Service Provider to implement shall not be subject to any additional upgrade charges (other than new Customer
enhancement requests). Service Provider, in its sole discretion, will decide if a modification is a minor or routine upgrade or patch or if it is instead a New Feature. It is agreed and understood that Customer has sole discretion to accept any
upgrade or update that is offered to Customer at no cost. 
 Acceptance of Implementation 

Customer shall perform testing of the web site after completion of the implementation and shall complete such tests within the scheduled time
allocation. If the acceptance tests establish that the web site is performing satisfactorily and meet the specifications set forth in this SOW, Customer shall sign an Acceptance Certificate. 

11. The following language regarding ownership of intellectual property from Additional Services and development projects is mutually agreed between Customer
and Service Provider: 
 It is agreed and understood that the work performed under this Statement of Work, including Additional Services and
development projects, shall be considered Service Provider Information. with all rights, title and interest owned by Service Provider. Service Provider grants to Customer an irrevocable, fully-paid, royalty free, nonexclusive worldwide license to
use this Service Provider Information during the duration of this SOW upon payment of the fees owed listed in this SOW. 
 IN WITNESS WHEREOF, the parties
hereto have caused this Statement of Work to be executed, effective as of the Effective Date of this Statement of Work. 
  

									
	GENERAL ELECTRIC	 		 	Globoforce Limited
					
	By:	 	 /s/ Karen Pensiero
	 		 	By: 	 	 /s/ Stephen Cromwell

					
	Title:	 	 Lead Sourcing Specialist
	 		 	Print Name:	 	 Stephen Cromwell

					
	Name:	 	 Karen Pensiero
	 		 	Title: 	 	 CFO

					
	Date:	 	 12/21/12
	 		 	Date: 	 	 21 December 2012

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
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 Attachment 1 

To SOW #3 
 FEE SCHEDULE 

DEFINITIONS 
 “GloboCertificates”
shall mean the non-cash awards issued to Customer participants in the program that may be redeemed for gift certificates from Merchants or Merchandise. GloboCertificates will be invoiced in accordance with the SOW terms above 

 

	1.	Non-Cash Transaction Fees 

 Non-cash Transaction Fee is calculated as o percentage of the
aggregate face value of all GloboCertificates (non-cash awards and US YOS award levels agreed value) issued pursuant to the SOW (the “Transaction Fee”). 

For this SOW Customer shall be invoiced a transaction fee of [*****]. 
  

	2.	[*****] Fees (including shipping) – [*****]. Customer and Service Provider agree to jointly review the costs for shipping based on actual shipment activity to evaluate [*****] price [*****].

  

	3.	GloboCertificate Value for US Years of Service Awards/Program Budget: 

 [*****] 

The annual budget for the US YOS program shall be as follows: [*****] based on the number of US Customer employees expected to reach the above
anniversary milestones in 2013. 
  

	3.	Additional Services 

 Customer shall be invoiced at the rate of [*****] per hour on a
time and materials basis for additional services [other than Professional Services). This will be costed and agreed in writing prior to commencement of work. 
  

	4.	Professional Services 

 Fees for Professional Services is as follows: 

professional service consulting engagements will be costed and agreed In advance as per requirements, and shall not exceed the following hourly
rates: 
  

	 	•	 	Senior Consultant = [*****] per hour 

  

	 	•	 	Consultant = [*****] per hour 

 All travel expenses for the above services are charged to
Customer at cost. 
 All communication activities or collateral identified as a result of the above workshops will be costed as per
requirements and an estimate issued to Customer for approval prior to any work commencing. 
  

	5.	 Expenses. All reasonable program implementation travel expenses are included within the Implementation Services Fee previously invoiced.
Customer shall reimburse Service Provider for 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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all reasonable travel and other related expenses incurred in the performance of the Services, other than expenses incurred related to program implementation, provided prior written approval is
received from Customer. 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
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 STATEMENT OF WORK 

“Customer” Information: 
  

			
	Customer Name:	  	General Electric
	Statement of Work Name:	  	Statement of Work #2 Global R&R Services
	Statement of Work Number:	  	Number 4

 “Service Provider” Information: 

 

			
	Service Provider Name:	  	Globoforce

 This Statement of Work (this “Statement of Work”), dated as of August 27, 2013 (the “Effective
Date”), is made by and between General Electric Company (“Customer”) and Globoforce (“Service Provider”) pursuant to the Master Services Agreement, effective as of June 1, 2009 by and between GE and
Service Provider (the “Agreement”), the terms of which are incorporated herein by reference. This Statement of Work sets forth the details for the Services and/or Deliverables described herein and replaces SOW#2 which shall
terminate upon the Effective Date of this SOW. Capitalized terms not defined in this Statement of Work shall have the meanings ascribed to them in the Agreement. This Statement of Work will not become binding on Customer until Customer issues a
purchase order (“Purchase Order”) for the total fees payable hereunder. Customer will promptly notify Service Provider upon the issuance of the Purchase Order. 
  

	1.	EXECUTIVE SUMMARY. 

 This SOW shall specify the Services, scope of work, pricing
and appropriate project timelines, as well as any additional reimbursable expenses, requirements, considerations, or objectives which differ from the general provisions of the Master Services Agreement or as more fully set forth below. 

 

	2.	DURATION OF SERVICES INCLUDING RENEWAL RIGHTS.  

 The term (“Term”) of
this SOW shall commence on September 1, 2013 and shall expire upon May 31, 2019. In the event this SOW exceeds the Term of the Agreement, the terms and conditions of the Agreement shall remain in effect for the benefit of this SOW only.

  

	3.	PROJECT MANAGERS. The following persons are designated as Project Managers for the respective parties: 

  

			
	Service Provider: Globoforce
	Name:	 	Alice Ferguson
	Title:	 	Global Account Executive
	Address:	 	144 Turnpike Road, Suite 310, Southborough, MA 01772
	Phone:	 	+1 (508) 229-1500
	Email:	 	alicef@globoforce.com
	Fax:	 	+1 (508) 357-8964
		
	Customer:	 	GE
	Name:	 	Frances Eng
	Title:	 	Project Leader - Global Rewards & Recognition and Long Service Awards
	Address:	 	GE - Global Business Services, 1 River Road,
		 	Building 5-7 East , Schenectady, NY 12345
	Phone:	 	518-388-7845
	Email:	 	frances.eng1@ge.com

  
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	4.	FEES.  

 See Attachment 1 – Schedule of Fees 

 

	5.	INVOICES AND PAYMENT TERMS. 

 Notwithstanding section 2 of the Master Service
Agreement dated June 1, 2009, Globoforce shall invoice General Electric or its business component no later than [*****] days after the completion of the services. All amounts owed under this SOW shall be billed monthly, or more frequent as
agreed between the parties for special one-time award uploads. 
 Thirty days prior to calendar year end, the parties shall agree the invoice
dates for the subsequent calendar year. 
 All fees shall be payable within the payment structure outlined below. Payment will be made after
receipt of a correct invoice and related “MIS file” (file with invoice detail used for reconciliation) by General Electric, for which approval shall be completed within five business days of a correct invoice receipt. Credit notes to be
issued by Globoforce shall not delay the approval of monthly invoices. Invoices not paid when due may accrue late charges at a rate of 1.5% per month or the maximum rate permitted by law, whichever is lower, from the date such payment was due
until the date invoice is actually paid in full. Payment term from date of invoice approval by GE: 
  

	 	•	 	[*****] awards – NET 45 days from invoice approval. For clarity, except for receipt of an invoice by GE after the 10th day of a calendar month or where the
approval process is delayed due to significant invoice errors (greater than 1% of the invoice amount is incorrect), then the payment for [*****] awards shall occur prior to the end of the following month-end. For example, invoice received by
May 10th, shall be paid by GE prior to June 30th unless there are significant errors in the invoice. 

 

	 	•	 	[*****] 

  

	6.	GENERAL OBLIGATIONS. 

 Service Provider (or its Project Manager, as appropriate)
shall: 
  

	 	(a)	Prepare a communication plan at the start of the project which at minimum shall provide the frequency that the party’s Project Managers shall confer (it is recommended that they confer at least once per week,
either in person or by telephone) to discuss project status, new problems, resolution or status of prior problems, prioritization, timing, staffing, budget, and any other matters deemed relevant to the project. Service Provider’s Project
Manager shall use commercially reasonable efforts to participate in all scheduled project status meetings. 

  

	 	(b)	Promptly bring to Customer’s attention any issues that could affect the timing or delivery of Services or the Deliverables. 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
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	7.	ADDITIONAL TERMS.  

 1. The following provision, to the extent it conflicts
with Section 3.1 of the Master Services Agreement, supersedes Section 3.1 of the Master Services Agreement: 
 In no case will
Globoforce increase prices under this SOW during the Term or any Renewal Term of the SOW unless mutually agreed to in writing by both parties and memorialized in an amendment to the SOW. 

 

	8.	ORDER OF PRECEDENCE. In the event of any inconsistency between the Agreement, this Statement of Work or any Change Request, the following order of precedence shall control: (a) this Statement of Work
shall take precedence over the Agreement; and (b) any Change Request(s) shall take precedence over this Statement of Work. 

  

	 	(a)	9. JOINT QUALITY IMPROVEMENT PROGRAM 

 GE has implemented a process/services
improvement methodology (“Six Sigma”) and proprietary training materials to support the application of that methodology. Globoforce, as a supplier of services, shall work with GE to implement a joint quality improvement program as part of
this Agreement. Globoforce shall, at a minimum, become familiar with the terms and definitions related to the Six Sigma Quality Methodology and shall be able to facilitate, cooperate and assist GE with implementing a quality program as it relates to
these services. Both parties confirm their support and commitment to develop a comprehensive quality program within thirty (30) days of the Effective Date. Globoforce shall protect as required by the terms of this Agreement, information
disclosed by GE to Globoforce that is of a proprietary and/or confidential nature, which may include both technical and business information relating to the Six Sigma Quality Methodology. All such materials shall be clearly identified as
“Proprietary” or “Confidential”. 
 Globoforce will: 

 

	 	1.	Participate in GE team project meetings as reasonably required and mutually agreed upon to perform the Services set forth herein. 

  

	 	2.	Help define service metrics. 

  

	 	3.	Define and implement procedures and tasks to track and support metrics. 

  

	 	4.	Seek ways to continuously improve the overall Services. 

  

	10.	SERVICES. Service Provider shall perform the following Services: 

  

	 	a)	Recipient platform (All GE businesses programs) shall be maintained as outlined in Attachment 2 

  

	 	a)	Implementation Services (web site branded for GE recognition and years of service programs) 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

Confidential 
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 1. The web site branded for GE recognition and years of service programs has been previously
created for all GE business units in accordance with the specifications outlined in Attachment 2. 
  

	 	b)	Merchant Development 

 Globoforce shall endeavor to add merchants to the platform on an ongoing
basis. GE may submit requests to Globoforce for specific merchants to be added. Additional merchants will be at no extra charge to GE where the discount levels are in line with Globoforce’s standard merchant relationship requirements. If
GE wishes to add merchants outside of these terms, a surcharge may apply. Globoforce will work with GE to identify merchant requests and highlight those that require a surcharge before adding to the GE web site. Globoforce shall not move a
standard list merchant (no surcharge) to the surcharge list without prior notification to GE and also adding an “in kind” merchant to the standard list prior to the change. In addition, if Globoforce removes a Significant Merchant (a
Significant Merchant is defined as a retailer with redemption volume in excess of [*****] per quarter for all of Globoforce’s customers combined) from the standard list, then Globoforce shall replace the merchant with an “in kind”
merchant with similar offerings at no surcharge. 
 At Account Reviews, Globoforce and GE will discuss merchant development activities and
discuss any significant changes to the merchants provided. 
 GE has requested that Globoforce add merchants in certain countries that are
subject to a surcharge. 
 Merchant Development Surcharge Fees are comprised of two groups (“Surcharge Merchants in Specified
Countries” and “Named Surcharge Merchants”): 
 Surcharge Merchants in specified countries: 

Fees for Surcharge Merchants are outlined in Attachment 1 – Fee Schedule 

Surcharge Merchants in specified countries fees and merchant offering are subject to annual review by GE. 

Named Surcharge Merchants: 

Globoforce shall maintain [*****] as an option for GE employees to select in the United States. 

Fees for Named Surcharge Merchants are outlined in Attachment 1 – Fee Schedule 

Globoforce may add additional named surcharge merchants only upon written approval by GE as an Amendment to this SOW and the related Fee
Schedule. 
 Globoforce is to use commercially reasonable efforts to move surcharge merchants to non-surcharge merchant status, which will
be reviewed monthly with GE. 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

Confidential 
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	 	e)	Implementation Progress Meetings 

 During each GE Business specific implementation, the GE
Program Manager will be updated daily (or otherwise as requested by the GE Program Manager) as to the progress and specific issues of such businesses implementation. 

Additional Services 
 Globoforce
and GE may agree on additional services to be provided by Globoforce on a time and materials basis at an hourly rate as set forth in the Attachment 1 – Fee Schedule for this SOW. Any custom work will be documented in a Change Order to
this Statement of Work and signed by both parties. 
 Globoforce reserves the right to impose additional charges for major upgrades or
additional functions not included in the web site as originally provided to GE (“New Features”). This would include any web site or reporting upgrade that Globoforce charges a fee to its existing customers. GE shall have the option to
elect to receive the New Feature and pay the fee or to exclude the New Feature from its web site and reporting capabilities. Any feature for which GE has paid fees to Globoforce to implement shall not be subject to any additional upgrade charges
(other than new GE enhancement requests). Globoforce, in its sole discretion, will decide if a modification is a minor or routine upgrade or patch or if it is instead a New Feature. It is agreed and understood that GE has sole discretion to accept
any upgrade or update that is offered to GE at no cost. 
 Acceptance of Additional Service or development work 

GE shall perform testing of the web site after completion of Additional Services and / or development work and shall complete such tests
within the scheduled time allocation. If the acceptance tests establish that the web site is performing satisfactorily and meet the specifications set forth in this SOW, GE shall sign an Acceptance Certificate. 

Additionally, it is agreed and understood that each of the development projects are subject to the “Implementation Schedule” Service
Level established in Section 4, Service Level Requirements. 
  

	 	f)	Ongoing Services: 

 Globoforce shall continue the following services 

Fulfillment / IT: 
  

	 	1.	Issue a GloboCertificate to a GE Participant when they receive an approved award. Deliver digital GloboCertificate to the award recipient via email, to be issued 120 hours after the award is approved. Deliver physical
GloboCertificate to the award nominator via mail. 

  

	 	2.	Deliver Merchant gift certificates when an award recipient redeems a GloboCertificate. Merchant gift certificates will be delivered via email or regular postal mail. 

 

	 	3.	Web Site hosting. Globoforce shall provide Web Site hosting for GE’s Program. 

  

	 	a.	For planned website maintenance outages Globoforce shall provide GE [*****] days advance notice along with detail regarding the outage and expected duration. 

In the event that any Globocertificates or merchant certificates are lost in the mail, due to error by Globoforce, Globoforce shall be
responsible for all costs associated with the re-issuance of such certificates; provided, however, that during each 12 month period during the term of this Agreement, such liability shall be limited to no

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

Confidential 
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more than one-half of one percent (0.5%) of the actual aggregate face value of all GloboCertificates. Globoforce shall provide a summary re-issuance report to GE on a quarterly basis. 

Globoforce shall monitor GloboCertificates that are not redeemed within one year of issuance. Globoforce shall provide a summary report to GE
on a quarterly basis. If such amount exceeds 5% of total awards issued during the corresponding period, then Globoforce and GE shall agree on a communication action plan to reduce such level. 

Customer Service: 
  

	 	1.	Provide customer support via email and phone for GE employee questions regarding GloboCertificate redemptions and Web Site usage. 

Globoforce shall provide customer support (phone and email) in the following languages: English, French, Spanish, Italian, German, and Dutch.

 Globoforce shall monitor requirements to add additional customer support languages for the GE program. If an already supported customer
support language is a customary secondary language within the country, then Globoforce shall not be under any obligation to add the new language. To determine the need to add a new customer support language, Globoforce and GE shall, at a minimum,
review the GE employee population that speaks the language not currently supported, number of customer support requests (email or phone) that are placed in the potential new language, budgeted award volume, and any other data or information that may
be relevant. This analysis shall be reviewed during Account Reviews. Upon GE and Globoforce’s mutual agreement, which shall not be unreasonably withheld, that there is a specific need to add an additional customer support language Globoforce
shall add such language, at no additional cost to GE, within three months of agreement. 
 Globoforce shall provide a customized answering
service “Thank you for calling GE Global Reward and Recognition, etc.” with dedicated GE lines for all languages mutually agreed to. 

Globoforce shall provide to GE on a monthly basis, the top 5 customer service reasons from both email and phone. 

Globoforce shall send to GE, upon request, previously recorded Customer Service calls for review. 

 

	 	2.	Provide general customer support via email and phone to GE “super users” regarding the GE global program. 

  

	 	g)	Professional Services: 

 Globoforce agrees to provide the following services to GE: 

Up to seven (7) half day strategic recognition workshops (one for each significant Business Component), within six months of signing of
this SOW, schedule to be mutually agreed upon by both parties. Globoforce shall provide these Strategic 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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Recognition overviews [*****] to GE. Any additional services, communication workshops or collateral shall be mutually agreed upon between GE and Globoforce. Any additional services or collateral
shall be invoiced in accordance with the Schedule of Fees or as mutually agreed between GE and Globoforce. 
 Reporting: 

Globoforce will provide to GE periodic reports as agreed in the “Blueprint” document and listed within this SOW. 

Account Reviews: 
 Globoforce
and GE’s Program Manager will meet at a mutually agreed upon interval to discuss, at a minimum, the services provided by Globoforce, merchant development activities and service levels as described in the Service Level Agreement in
Attachment 3 
  

	 	h)	GE Obligations: 

 GE Publicity: During the term of this SOW, GE agrees to the following for the
benefit of Globoforce: 
 Review and approve a case study written by Globoforce regarding the GE program. Approval must be granted by GE
Program Manager prior to Globoforce’s use of the case study. Such approval will not be unreasonably withheld. Case study can include major attributes of the program, success stories, and overall customer satisfaction. The case study shall not
use the name, logo, trademarks or to be used for advertising/marketing or public relation materials. Notwithstanding section 18.4 of the Master Services Agreement dated May 1, 2009, GE will discuss the opportunity to present or review GE‘s
R&R program in the industry, subject to GE’s approval of content. 
 Provide a minimum of two (2) phone references regarding
Globoforce and its services related to the GE program. 
  

	11.	PROJECTS 

  

	 	a.	Globoforce Mobile for iPhoneTM/ iPod touchTM devices: Secure mobile access by participants to Program via Globoforce Mobile app for iPhoneTM/ iPod touchTM devices. 

 

	 	b.	Additionally, if GE desires its Participants to have mobile access to the Program from other devices, Globoforce currently supports mobile, browser-based access to the Program from touch-based devices compliant with the
following operating systems; Apple iOS 3+, Android 2.1+ and Black Berry 6+. 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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 GE and Globoforce may mutually agree on other specific projects which will be documented under a
Change Order, form included in the Agreement. 
 The following language regarding ownership of intellectual property from Additional
Services and development projects is mutually agreed between GE and Globoforce: 
 It is agreed and understood that the work performed under
this Statement of Work, including Additional Services and development projects, shall be considered Globoforce Information with all rights, title and interest owned by Globoforce. Globoforce grants to GE an irrevocable, fully-paid, royalty free,
nonexclusive worldwide license to use this Globoforce Information during the duration of this SOW upon payment of the fees owed listed in this SOW. 
  

	 	d)	Website translation services 

 Globoforce shall maintain the Web Site in the following
languages: 
  

	 	i.	English 

  

	 	ii.	French 

  

	 	iii.	Spanish 

  

	 	iv.	Italian 

  

	 	v.	Dutch 

  

	 	vi.	German 

  

	 	vii.	Portuguese 

  

	 	viii.	Hungarian 

  

	 	ix.	Simplified Chinese 

  

	 	x.	Czech 

  

	 	xi.	Polish 

  

	 	xii.	Japanese 

 Globoforce shall translate the website into the following languages, Recipient
platform only, by dates mutually agreed between the parties based on respective resource allocations. 
  

	 	i.	Finnish 

  

	 	ii.	Korean 

  

	 	iii.	Russian 

 The website elements translated at no additional cost are: 

 

	 	•	 	GE Website content, as currently maintained on the Recipient Platform web site 

  

	 	•	 	Welcome Page Copy –GE Standard content 

  

	 	•	 	Program Guidelines 

  

	 	•	 	Award Wizard 

 Globoforce agrees to translate the website for additional “Major
Languages” defined as “languages with a combination of more than 1,000 GE employees and/or GE Affiliate employees who use the language as their primary language” at no extra cost to GE, provided GE commits to transact a minimum value
of [*****] of awards (cash and non-cash award values combined). This minimum value of awards shall be determined based on the award language used for the recipient of the award. If GE fails to achieve [*****] of awards (cash and non-cash award
values combined) in the first 12 months after launch of the new language website, then GE shall pay Globoforce as per fee schedule in Attachment 1 – Fee Schedule. 

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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	12.	SERVICE LEVEL AGREEMENT –GE expects that GLOBOFORCE will continue to improve the quality of service for GE. The measurement and Service Levels set forth in Attachment 3 of this SOW are intended to
measure GLOBOFORCE’S performance of Services. GLOBOFORCE will be measured against the service levels defined in this Service Level Agreement, or as modified and agreed to in subsequent Statements of Work 

IN WITNESS WHEREOF, the parties hereto have caused this Statement of Work to be executed, effective as of the Effective Date of this Statement of Work. 

 

									
	General Electric Company	 		 	Globoforce Limited
					
	By:	 	 /s/ Gloria Lewis
	 		 	By:	 	 /s/ Stephen Cromwell

									
					
	Print Name:	 	 Gloria Lewis
	 		 	Print Name:	 	 Stephen Cromwell

									
					
	Title:	 	 Corporate Sourcing Leader
	 		 	Title:	 	 CFO

									
					
	Date:	 	 28 August 2013
	 		 	Date:	 	 27 August 2013

  

  
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RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

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 Attachment 1 

To SOW #4 
  

	33.	Fee Schedule 

  

	34.	Definitions  

 “GloboCertificates” shall mean the non-cash awards
issued to GE participants in the program that may be redeemed for gift certificates from Merchants 
  

	 	1.	Non-Cash Transaction Fees 

 Non-cash Transaction Fee is calculated as a percentage of the
aggregate face value of all GloboCertificates (non-cash awards) issued pursuant to the program according to the volume discount table below (the “Transaction Fee”). 

The volume discount table is based on annual volume under the program and is a tiered discount (ie. a discount level when reached applies to
each dollar spent for that tier and is not retroactively applied to the lower volume tier). Globoforce shall invoice GE at [*****] during the calendar year, effective at the start of the next billing cycle after the Effective date of this SOW (next
billing cycle start date is September 30, 2013). 
 The volume discounts based on actual GloboCertificate award volume in the preceding
quarter will be calculated and a credit note, if applicable, will be issued once the respective Transaction Fee has been paid by GE or upon another schedule agreed upon by GE and Globoforce. 

 

			
	 Award Volume:
	  	 Transaction Rate*:

	 [*****]
	  	 [*****]

	 [*****]
	  	 [*****]

	 [*****]
	  	 [*****]

	 [*****]
	  	 [*****]

  

	*	[*****] cap on effective transaction rate. Once the effective rate for a calendar year equals [*****] the Transaction Fee for the remainder of the calendar year shall be [*****]. 

Calendar year 2013 transaction rate will be calculated using the transaction rates from the previous MSA and SOW#2 (effective through
August 31, 2013) and this SOW# 4 (effective September 1, 2013) prorated based on the number of months each SOW was effective during the year. 
  

	 	2.	Shipping & Handling Fees for Non-Cash Awards 

 GE will pay Globoforce
Shipping & Handling fees per Non-Cash award, according to the following schedule: 
 Signature of SOW to May 31, 2015 –
[*****] per Non-Cash award for S&H charges 
 June 1, 2015 through end of SOW (May 31, 2019) – Globoforce shall review the
number of electronic redemptions relative to the current number of electronic redemptions to total redemptions. If the percentage of electronic redemptions to overall redemptions increases by over [*****], then the Shipping and Handling fees per
Non-cash award shall be reduced by [$0.10] for each [*****] increase but shall never decrease below [*****]. 
  

	 	3.	Cash Award Transaction Fees 

 GE will pay Globoforce [*****] per Cash award. 

  
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UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

Confidential 

	 	4.	eCards Awards No charge for electronic Ecards (zero value award) issued 

  

	 	5.	Website Translation Services 

 Translation fee if minimum non-cash award volume is not
met for a web site “Major Language” translation in accordance with the SOW #4 = [*****] for each western character language, or [*****] for each double byte character language. If GE provides the translation of GE custom text the
translation fees will be [*****] for each western character language and [*****] for each double byte character language 
 Examples of
content which is not related to the web site content that GE would provide translations, include, but are not limited to: 
  

	 	•	 	Welcome Page Copy –GE specific copy 

  

	 	•	 	Program Guidelines copy – over 12 pages of GE specific 

  

	 	•	 	Launch email – GE specific copy 

  

	 	•	 	Ongoing program emails – GE specific content 

  

	 	•	 	Newsletters – GE specific content 

  

	 	•	 	Survey - GE specific copy 

  

	 	•	 	New GE Business Starter Pack – GE Specific copy 

  

	 	•	 	HR Team training manuals 

  

	 	•	 	Manager/Employee training manuals 

  

	 	6.	Merchant Development 

 Named Surcharge merchants in specified countries: 

During the term of SOW#4 – agreed upon fee percentage for all Surcharge Merchant gift certificates issued not to exceed [*****]. Current
listing of named surcharge merchants in specific countries included as Attachment 4. 
 Surcharge merchants in specified countries
fees are subject to annual review by GE. The Merchant Development Surcharge Fee shall be calculated and invoiced at the end of each calendar month. 

Named Surcharge Merchants: 
 Named
Surcharge Merchant Fee - fee for all Surcharge Merchant gift certificates issued. Named Surcharge Fee shall be calculated and invoiced at the end of each calendar month or agreed upon billing cycle. 

 

			
	Named Surcharge Merchant	  	Surcharge Fee
		
	[*****]	  	[*****]

  
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UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

Confidential 

 Development Project Work 

Will consist of a single blended hourly rate for all development resources used as part of the GE agreement. The rate is [*****] per hour
for any GE specific development projects Use of development resources by project shall be determined and invoiced at the end of each calendar month or agreed upon billing cycle. 

 

	 	7.	Additional Services 

 GE shall be invoiced at the rate of [*****] per hour on a time and
materials basis for additional services (other than Professional Services). An estimate of total costs will be provided and agreed in writing using the Change Order Form template prior to commencement of work. 

 

	 	8.	Professional Services 

 Fees for Professional Services are as follows: 

Professional services to be provided at [*****] to GE are outlined in SOW #2 (section “Professional Services”). 

An estimate of total costs for additional professional service consulting engagements will be provided and agreed in advance as per
requirements, and shall not exceed the following hourly rates: 
  

	 	•	 	Senior consultant = [*****] per hour 

  

	 	•	 	Consultant = [*****] per hour 

 All travel expenses for the above services are charged to GE at
cost, in compliance with GE T&L policy in Attachment 2 of the First Amendment to the Master Services Agreement dated June 1, 1009. 

All communication activities or collateral identified as a result of the above workshops will be costed as per requirements and an estimate
issued to GE for approval prior to any work commencing. 
  

	 	9.	Expenses. GE shall reimburse Globoforce for all reasonable travel and other related expenses incurred in the performance of the Services, other than expenses incurred related to program implementation, provided
prior written approval is received from GE and shall comply with GE’s travel policy, a copy of the current policy is attached to the Agreement. 

  
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UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 
 General Electric Company 

Confidential 

 Attachment 3 to SOW #4 

Service Level Agreement 
 1. General
Provisions 
 1.1.1 General. 
 At a
minimum, Globoforce shall perform the following services in accordance with the following minimum Service Levels, and shall provide this performance data in a monthly report (See attached sample Dashboard Report). Data should also be available on a
yearly and quarterly basis: 
 For Services and minimum Service Levels see the Service Performance Measurement Matrix (“SPMX”)
below. 
 at a level of performance with regards to accuracy, quality, completeness and responsiveness at least 

 

	 	(i)	consistent with the standard of the best managed global firms; and 

	 	(ii)	specifically identified in this Agreement. 

 GE expects that GLOBOFORCE will significantly improve the quality
of service for GE. The measurement and Service Levels set forth in this Section D of this SOW are intended to measure GLOBOFORCE’S performance of Services. 

GLOBOFORCE will be measured against the service levels defined in this Service Level Agreement, or as modified and agreed to in subsequent Statements
of Work. 
 Performance Categories and Service Levels may be added, deleted, or modified through the process set forth in Section 1.4 of this
Service Level Agreement in order to achieve a fair, accurate and consistent measurement of GLOBOFORCE’S performance regarding the services listed above. 

1.2 Reporting 
 GLOBOFORCE shall implement the
necessary measurement and monitoring tools and procedures required to measure and report their performance of the services listed above against the applicable Service Levels as well as supporting metrics. GLOBOFORCE shall provide, as requested by GE
and at no additional charge, a set of electronic reports to verify GLOBOFORCE’S performance and compliance with the Service Levels which shall be subject to audit by GE. Detailed supporting information for each report will be provided to GE in
spreadsheet form and/or via electronic means. 
 GLOBOFORCE shall report at the GE Company level as a whole. 

1.3 Account Reviews 
 On a quarterly basis, or as mutually
agreed between both parties, GLOBOFORCE shall coordinate a regularly scheduled Scorecard Review Meeting with GE to discuss, at a minimum: services provided by Globoforce, service level performance, program usage trends, schedules, resource
management, capacity planning, requested services and project deliverables. Other topics that will be included are GLOBOFORCE business direction, technology, quality management and customer satisfaction. GLOBOFORCE shall use the GLOBOFORCE Scorecard
supported by detailed reports and other backup material to facilitate these meetings. 
  

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WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 

 On an annual basis or as GE requests, GLOBOFORCE shall coordinate a regularly scheduled Service Review Meeting
with GE to discuss at a minimum: program usage trends, overall service level performance and trends, SLA, customer satisfaction, and quality and cost improvement efforts. 

1.4 Service Level Change Process 
 Service levels may be
added, changed, or deleted upon mutual agreement of the parties. 
 1.4.1 Trigger Events 

In addition to those changes necessitated by the passage of time, events or changes that significantly affect GE requirements or GLOBOFORCE’S
delivery of the services listed in this contract may cause the need to delete or modify existing Service Levels or add new Service Levels. Such events and changes include, but are not limited to: the annual planning process, changes in GE businesses
(e.g., business requirements, changes in volume, changes in client needs, etc.), addition of new services, elimination of services, continuous improvement review (e.g., automation, process improvement, globalization), regulatory requirements, audit
requirements, emerging technology, elimination of technology, external benchmarks, completion of Service Level baselines, review process between GLOBOFORCE and GE, the need to measure a service differently (such as if the current measure does not
accurately represent a fair measure of GE’s needs, errors in Service Levels, failure to perform satisfactory in areas currently identified as Critical to Quality (CTQ), or by mutual agreement between GLOBOFORCE and GE. It is not anticipated
that changes in the performance monitoring system will drive a change in Service Levels; rather, the need to collect and accurately reflect the performance data should drive the development or change in performance monitoring systems. In addition,
the Parties agree that new or modified service levels will be at least consistent with the standards of the best managed global companies. 

1.4.2 Business Case Assessment 
 Upon
identifying the need to add, delete, or modify a Service Level (a “Service Level Change”), the GLOBOFORCE client Manager and the GE Project Manager shall prepare a written analysis of the business case that supports the Service Level
Change ( a “Business Case Assessment”), including, as appropriate: 
  

	•	 	Details of the Service Level Change (e.g., measuring tools and methodology, Service Level calculation, exclusions, projected implementation/effective date); 

 

	•	 	Objective or expected benefit; 

  

	•	 	Implementation difficulty, effort and cost, if any, and responsibility therefor; 

  

	•	 	Cost, if any, and any possibility of mitigation; 

  

	•	 	Risk factors (e.g., operation, regulatory, controls); 

  

	•	 	Degree of change; 

  

	•	 	Nature and extent of impact upon businesses; 

  

	•	 	Combination impacts (i.e., how one Service Level affects another); 

  

	•	 	System implications; and 

  

	•	 	Legal/contractual issues. 

 1.4.3 SLA Review 

During the annual service review meeting, GLOBOFORCE and GE shall review, evaluate, and potentially modify the Service Level Changes and associated Business
Case Assessments. It is recommended this part of the service review meeting be attended by the GE Operations leader, GE Quality Leader, GLOBOFORCE Strategic Business Unit (SBU) team and other personnel as necessary for an effective review of the
Business Case Assessment. This team shall endeavor to operate and make decisions by consensus, but approval by GLOBOFORCE of proposed Service Level Changes will not be unreasonably withheld. With respect to each Service Level Change, this team shall
choose one of three results: 
  

	•	 	terminate consideration of the Service Level Change without further review; 

  

	•	 	remand the associated Business Case Assessment to the GLOBOFORCE & GE Leadership for reconsideration; or 

  

	•	 	recommend the Service Level Change for submission to the GE and GLOBOFORCE Senior Management for approval. 

  

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY
WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 

 In the event of a disagreement, GE’s position shall be submitted to the Globoforce Management team. 

1.4.4 Implementation 
 The GLOBOFORCE lead
partner shall develop for GE’s review and approval a detailed Project plan for implementation of each approved Service Level Change. This plan shall include, as appropriate: 

 

	•	 	a project schedule ; 

  

	•	 	required update to this section of the contract 

  

	•	 	a plan to gather historical data regarding the new measure if agreed to by the SLA Team; 

  

	•	 	a communication plan; and 

  

	•	 	required changes to systems, reporting schedules, training, and processes. 

 GLOBOFORCE and GE shall work
together to deliver the requested Service Level Change on-time. 
 1.5 Root Cause Analysis 

On each occasion in which GE requests, significant trends dictate, or it fails to meet a critical to quality performance standard (including any Service
Level), GLOBOFORCE shall 
  

	(i)	promptly investigate and report on the root cause of the problem; 

  

	(ii)	correct the problem and begin meeting the Performance Standard (including any Service Level) as soon as practicable; and 

  

	(iii)	advise GE, as, and to the extent requested by GE, of the status of remedial effort being undertaken with respect to such problem. In addition, GE will cooperate with GLOBOFORCE to the extent its cooperation is necessary
to perform root cause analysis. 

 GLOBOFORCE shall conduct Root Cause Analysis/Remedial Action review meetings on a monthly basis (or more
frequent, depending on the severity of the problem) with the GE Project Leader until the problem is resolved. 
 For GE requests, significant trends or
critical failures, GLOBOFORCE will perform root cause analysis and provide a critical review to GE, within 7 business days from the initiation of the root cause study. 

1.6 Problem Management Reviews 
 The GLOBOFORCE Account
Team will conduct problem management review meetings with the intent of the meeting to address the high impact problems that have an adverse effect on service or customer satisfaction. Depending upon, amongst other factors, the severity of the
issue, the frequency of these meetings may vary from daily to weekly or otherwise as requested by GE. The goal is to ensure that GLOBOFORCE maintains continued focus on problem identification and problem resolution. In addition, high priority
problems will be reviewed on a monthly basis (or otherwise as agreed by both parties) by the GE Operations Leader in the Root Cause Analysis/Remedial Action review meetings. If more frequent meetings are necessary to insure problem resolution they
will be conducted at no increase in price to GE. 
 CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A
COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 

 2.0 Performance Categories/Critical Service Levels 

2.1.1 General 
 GLOBOFORCE shall, at a minimum meet or
exceed the Performance Standard Levels and be responsible for the [*****], using the measurement criteria which are set forth in the SPMX. 
 2.1.2
Correction Plan and Follow-up 
 Globoforce’s performance against the Performance Standards set forth below in the SPMX, shall be measured monthly.
Globoforce shall deliver a report of its performance (the “Monthly Performance Report”). 
 In the event that the Monthly Performance Report shows
that Globoforce failed to meet any Performance Standard, Globoforce will have [*****] days to provide to GE an agreed upon written correction plan (the “Correction Plan”) which shall set forth actions to be taken by Globoforce to remedy
the performance deficiency and the timeline by which such remedies shall be completed. This Correction Plan shall be developed in partnership with GE, and will require GE’s approval for acceptance. Globoforce shall provide GE a Correction Plan
follow-up report upon completion of the Correction Plan (the “Correction Plan Follow-Up”). The Correction Plan Follow-Up shall contain, at a minimum: root cause analysis, action items and steps taken to fulfill action items. 

2.1.3 Calculation of Performance Credits and Performance Credit Cap 

In the event that Globoforce has failed to meet, over two months in a calendar year, any Performance Standard having an identified Fees at Risk as set forth in
the SPMX (excluding the Performance Standard for “Implementation Schedule” as identified in the SPMX below, which will have a [*****] in every month), a Performance Credit as set forth in the SPMX may be applied. The Performance Credit
shall be applied against the invoicing for any month in which the performance deficiency occurred subsequent to the failure criteria above. If invoice for that month has already been submitted, the Performance Credit will be applied to the next
billing period. Client must provide Globoforce written notice of the desire to assess the performance credit. Notice must be received by Globoforce within ten (10) business days of GE’s notification of the performance deficiency.
Notwithstanding anything to the contrary contained herein, the maximum annual Performance Credit which may be awarded is [*****] of Globoforce’s annual aggregate Transaction Fee amount earned, as defined in Annex IV, from this Agreement during
the immediately preceding twelve (12) months. 
 Service Performance Measurement Matrix (“SPMX”): 

 

							
	 1.6 Description
	  	 Service Level
	  	 Definition/Measurement Criteria
	  	 1.7 Fees at Risk

	Customer Service Support Availability	  	 English – [*****]
  

 
  
 Non English
languages – [*****]
	  	 % of time support is available via phone and email 24 hours a day, 7 days a week, excluding designated holidays *

 
 % of time support is available via phone and email from 9:00am-5:30PM GMT Monday thru
Friday, excluding designated holidays **
	  	[*****] Transaction Fee amount
				
	Customer Service Response Time	  	Email – [*****]	  	% of Email messages responded to within [*****] of receipt	  	[*****] Transaction Fee amount
		  	Phone – [*****]	  	% of calls answered within [*****] of first ring	  	[*****] Transaction Fee amount

 CERTAIN CONFIDENTIAL PORTIONS OF THIS
EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER
RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934. 

							
		  	Phone – [*****]	  	% of calls abandoned	  	 [*****] Transaction Fee amount
 Fee at
Risk for this category only if greater than [*****] of calls are abandoned

				
	Customer Service Utilization	  	N/A	  	email vs phone calls to customer service	  	Data is tracked, but no minimum levels are required
				
	Fulfillment – Processing time for merchant certificates	  	[*****]	  	% of Tier 1 merchant certificates that are dispatched within [*****] days of order receipt. ***	  	[*****] Transaction Fee amount
		  	[*****]	  	% of Tier 2 merchant certificates that are dispatched within [*****] days of order receipt. ***	  	[*****] Transaction Fee amount
		  	[*****]	  	% of Tier 3 merchant certificates that are dispatched within [*****] days of order receipt.***	  	[*****] Transaction Fee amount
		  	[*****]	  	% of Tier 4 merchant certificates that are dispatched within [*****] days of order receipt. ***	  	[*****] Transaction Fee amount
				
	Survey Results	  	N/A	  	Globoforce’s performance on the Quarterly Survey shall be reported on the first Scorecard review following each Calendar Year Quarter.	  	Data is tracked, but no minimum levels are required
				
	Implementation Schedules	  	Implemented within [*****] of schedule	  	Date Globoforce implements the GE Business web site as long as GE provides all its deliverables according to the implementation schedule timeline. The implementation date is agreed to in Annex I of this SOW and in
Schedule A - GE Businesses Specific Blueprint Specifications, which will be executed from time to time as each GE business comes on to the program.	  	[*****] for every [*****] that exceeds the [*****] cushion. Provided however, if there is a scope change and agreed upon change in implementation dates the fee at risk will only apply based on the revised
date.

 CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH
“[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE
ACT OF 1934. 

							
	Web Availability Rate	  	99% uptime	  	% of time that Globoforce website is up and available. Supplier Website will be available 24/7, scheduled maintenance expected. 99% system uptime.	  	[*****] Transaction Fee amount
				
	Complaint Resolution	  	95%	  	% of Customer Service Inquiries resolved within [*****] days of initial call or email.	  	[*****] Transaction Fee amount
	Escalation #’s	  	N/A	  	Number of escalated customer service cases Customer escalated service case shall be when a GE employee escalates an issue above the initial customer service representative	  	Data is tracked, but no minimum levels are required

 * = Designated Holidays for English Customer Service Support Availability are: Christmas eve at 4:00PM (GMT) through
the day after Christmas. New Years eve at 4:00PM (GMT) through New Years day. If New Years day is on a weekend, then holiday would extend through the day after New Years day. 

** = Designated Holidays for Non English Languages are: Christmas eve at 4:00PM (GMT) through the day after Christmas. New Years eve at 4:00PM (GMT) through
New Years day. If New Years day is on a weekend, then holiday would extend through the day after New Years day. March 17, Easter Monday, first Monday in May, June and August, and October 30. 

*** = For all fulfillment requests by GE, if stock is not available Globoforce customer service shall contact the GE employee and provide alternative
options. A listing of the merchants available to GE is attached hereto in Annex IV. Please note that this list is included for reference use only and is subject to change. 

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[*****]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY
WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934.EX-10.8

 Exhibit 10.8 
  

 
 EPAM Systems Inc. 

 
  

Software Development Services Agreement 

By and Between 

Globoforce Limited 
 And

 EPAM Systems Limited 

	1.	MASTER AGREEMENT 

 This Software Development Services Agreement (the “Master Agreement”) is
made between Globoforce Limited, a Corporation organized under the laws of the Republic of Ireland with its principal place of business at 21 Beckett Way, Park West Business Park, Dublin 12, Ireland (“Globoforce”) and EPAM Systems
Ltd. with its principal place of business at 10 Albemarle Street London, W1S 4HH (“EPAM”). This Master Agreement, including Exhibits(if any) attached hereto, establishes the terms under which EPAM will provide services to develop,
modify or maintain computer software (the “Software”) described in the statements of work (“SOW”) attached hereto. Such SOWs shall be mutually agreed upon by the parties in writing and signed by their respective authorized
representatives. An SOW shall be incorporated herein by reference on the date of complete execution thereof. All future and additional work related to a specific SOW, requested by GLOBOFORCE and accepted by EPAM will from time to time be documented
and appended to such SOW as an SOW Amendment. Only upon signature by an authorized representative of both parties will such future SOW Amendments be deemed as executed. In the event that additional future SOW Amendments are appended, they will be
considered as changing or affecting the terms and conditions of the previously executed, related, and agreed to SOW and SOW Amendments. If a new SOW Amendment does by mutual agreement of the parties alter or affect the terms and conditions of a
previously executed, related SOW or SOW Amendment, then the new SOW Amendment will state specifically which terms and conditions it supercedes, replaces or modifies. SOWs and SOW Amendments will contain descriptions of services to be provided and
the commercial terms under which they will be provided including but not limited to pricing information if such pricing information differs from the pricing of services agreed in any pervious, related SOW or SOW Amendment. Any specific term or
condition of the SOW or SOW Amendment, not identified as being changed in the specific SOW Amendment, will be considered as remaining fully applicable as stated in its original form of the executed SOW or SOW Amendment. The terms of this Master
Agreement shall control over conflicting terms in the SOW unless the SOW indicates an intention for the SOW to control. 
 EPAM is ready, willing and able
to undertake the development of the Software and agrees to do so under the terms and conditions set forth in this Agreement. Accordingly, the parties agree as follows: 
  

	2.	APPOINTMENT 

 2.1 Subject to the terms and conditions of this Agreement, GLOBOFORCE hereby engages EPAM
to perform certain development, consulting and professional services to create, modify or maintain the Software as further described in executed SOWs and SOW Amendments that refer to this Master Agreement. Depending upon the nature of each project
described on the SOW, these services may include a combination of business process consulting, software design, software programming, software testing, software maintenance, and software support. 

2.2 EPAM agrees to use reasonable effort to perform those services in a manner designed to help GLOBOFORCE achieve its business objectives in as timely,
effective, and economical manner as reasonably possible. 
  

	3.	TERM OF AGREEMENT 

 3.1 This Agreement shall be effective upon the date of the last signature affixed
below and shall continue in effect until the executed SOWs or SOW Amendments are completed or until terminated by either party as provided in Section 5 below. If either party terminates this agreement, renewal of this Agreement, either under
the current terms or under renegotiated terms, shall be at the mutual written consent of the parties. 
  

	4.	GLOBOFORCE’S DIRECTION OF SCOPE OF “EPAM” WORK EFFORTS 

 4.1 Each of the attached SOWs and
SOW Amendments shall state the services and deliverables that will be provided by EPAM to GLOBOFORCE under the scope of such SOW whether it is work completed on a Time & Materials basis in which EPAM provides manpower and other
services at an agreed hourly weekly or monthly rate or if such service or product is to be provided on a fixed price project basis where EPAM agrees to provide such service at a fixed costs irrespective of the time and resources taken to complete
the tasks in accordance with the delivery and acceptance procedures defined in that SOW. Any changes from the type of billing between 

  

					
	Confidential	  	©EPAM Systems Inc., 2010	  	Page 2

 
Time and Materials and Fixed Price or any adjustment to the agreed rate or project price resulting from mutually agreed changes in circumstances must be appended to this agreement and SOW with
written authorization of an authorized signatory of both parties. 
 4.2 In SOWs which specify Fixed Price Projects, changes in requirements or scope of the
project from GLOBOFORCE shall be communicated in writing to EPAM, who will then provide an impact analysis to GLOBOFORCE identifying the impact on the existing SOW of such changes in terms of at least, costs, deliverables completion dates,
functionality and performance. Written agreement from an authorized signatory of both parties is necessary to amend the original terms of the SOW in such case that parties agree to do so. 

 

	5.	RELATIONSHIP 

 5.1 EPAM shall perform under this Master Agreement as an independent contractor engaged in
the business of providing services to its business clients and to GLOBOFORCE in particular. As such, EPAM and its employees are independent contractors of Globoforce and/or subcontractors are not agents or legal representatives of GLOBOFORCE for any
purpose and have no authority, express or implied, to represent or bind GLOBOFORCE. Nothing contained in this Agreement shall be construed as creating a joint venture or partnership between EPAM and GLOBOFORCE. EPAM will file all applicable tax
returns for all of its EPAM Personnel assigned hereunder in a manner consistent with its status as an independent contractor of services; and EPAM will make all required payments and deposits of such taxes in a timely manner. 

5.2 Contact and official notification. Notices to be delivered by either party to either party under this agreement shall be addressed to the following
contact people. 
 Globoforce Contacts. 

Jonathan Hyland CTO 

21 Beckett Way, Parkwest Business Park 

Dublin 12, Ireland 

353-625-8804 

Jonathan.hyland@globoforce.com 

Steve Cromwell, CFO 

144 Turnpike Road, Suite 310 

Southborough, MA 01772 

508-229-1515 

Steve.cromwell@globoforce.com 
 EPAM Contacts

 Paul Twentyman, Director of Operations, UK & Ireland 

London office, UK (GMT) 
 10 Albemarle Street 

London, W1S 4HH 
 +44 207 758 9830 

Paul_twentyman@epam.com 
 With copies to: 

Ilya Cantor, VP & CFO 
 41 University Drive,
Suite 202 
 Newtown, PA 18940 
 267-759-9000 

Ilya_cantor@epam.com 

  

					
	Confidential	  	©EPAM Systems Inc., 2010	  	Page 3

 Ginger Mosier, VP & General Counsel 

41 University Drive, Suite 202 
 Newtown, PA 18940

 267-759-9000 
 Ginger_mosier@epam.com 

 

	6.	TERMINATION OF AGREEMENT 

 6.1 Either party shall have the right to terminate this Agreement upon the
other party’s material breach by providing thirty (30) days notice in writing of such termination subject to such opportunity to cure. Globoforce shall have the right to terminate this Agreement upon ten (10) days notice in writing in
the event of EPAM’s breach of the confidentiality provisions hereof. Either party may terminate this Agreement or any SOW for convenience upon the longer of (1) thirty (30) days or (2) the period stated in the SOW (if any),
subject to having issued prior written notice. This Agreement shall terminate immediately upon the bankruptcy of EPAM. EPAM may, in addition to all other remedies that may be available, suspend Services for Globoforce’s failure to make payments
upon fifteen (15) days prior written notice to Globoforce and an opportunity to cure. Upon effective date of the termination, EPAM will discontinue all related work on the project, and GLOBOFORCE will pay for all fees, costs and expenses owed
to or incurred by EPAM in connection with services performed under this Agreement up to the date of effective termination. In the event of termination, except with respect to terminations for breach of payment terms which have not been cured, within
ten (10) days after effective termination, EPAM agrees to complete and turn over to GLOBOFORCE all deliverables then due GLOBOFORCE according to the deliverables schedule in the SOW, all work in progress applicable to the project, and, should
termination occur between dates on which deliverables are due according to the deliverables schedule in the SOW, a prorated (by number of calendar days) portion of the work due upon the next deliverable due date in the deliverables schedule in the
SOW. Notwithstanding the expiration of this Agreement, the provisions of this Agreement and each party’s obligations hereunder shall remain in effect with respect to any and all SOWs executed prior to the Termination Date until each party has
fully performed its obligations contained in each such SOW. Notwithstanding the foregoing, Globoforce may terminate any SOW upon failure by EPAM to deliver the Services contained in any such SOW on a timely basis, such failure to be determined
Globoforce at its sole reasonable discretion. 
 6.2 The obligations of the parties set forth in Sections 7, 8, 9, 10, 11, 12, 13 and 15 and 16 of this
Agreement shall continue in effect after termination. 
  

	7.	PAYMENT TERMS 

 7.1 EPAM will perform all work under this Agreement at Time and materials rates, or on a
fixed price for agreed deliverables basis, as identified in the each specific SOW and any SOW Amendments thereto appended. 
 7.2 All reasonable, actual,
documented out-of-pocket expenses of EPAM’s professional staff while on the engagement (e.g., travel, lodging, food, parking, ground transportation, and miscellaneous expenses) will be paid by GLOBOFORCE for visits to either the GLOBOFORCE
offices or GLOBOFORCE’s client site, if (i) such visits are necessary under the terms of the SOW or SOW Amendment, and (ii) authorized by GLOBOFORCE. Any expenses greater than SUS 100 must be approved by GLOBOFORCE in writing
prior to commitment, and an original receipt must accompany each expense to warrant its reimbursement. Such expenses will be invoiced monthly and payment is due within 15 days of GLOBOFORCE’s receipt of such invoice. 

7.3 EPAM shall invoice GLOBOFORCE on a monthly basis for any services provided unless otherwise specified and mutually agreed in any specific SOW relating to
fixed price and time SOWs. All invoices shall include references to S timesheet summaries or delivery of identified deliverables as described in the associated SOW or SOW amendment and shall be paid by GLOBOFORCE net 30 days. Globoforce is
entitled to withhold amounts that are subject to bona fide dispute if Globoforce provides EPAM with timely written notice describing the basis with reasonable particularity. EPAM shall maintain all invoices and documentation for a period of three
(3) years from invoice date. 

  

					
	Confidential	  	©EPAM Systems Inc., 2010	  	Page 4

 7.4 Prices are net of taxes. Globoforce shall be responsible for all sales, use, customs, duties and other taxes,
excluding those taxes imposed on the net income of EPAM or employment related taxes for EPAM Personnel arising from their performance of Services under this Agreement. 
  

	8.	LIMITED WARRANTY FOR SOFTWARE 

 8.1 EPAM warrants that: 

8.2 For a period of ninety (90) days from performance of the Services, the services provided under this Agreement shall be performed by qualified
personnel in a workmanlike manner in accordance with current commercial standards for such services. 
 8.3 For a period of ninety (90) days from the
date of delivery (unless a shorter time is specified in the relevant SOW), the Software and its Documentation will conform to the specifications listed in the applicable SOW and any documents outlined, included, referred to or appended to such SOW.

 8.4 The Software and its Documentation will be created by workers under full-time employment or exclusive contractor agreement who are validly authorized
to perform the work in accordance with local law at EPAM and who are under obligation to assign inventions, patents and copyright to EPAM and who have executed a confidentiality agreement which is at least as protective as is this Agreement of works
created hereunder and is consistent with industry standards. 
 8.5 The Software or its Documentation as delivered to GLOBOFORCE does not infringe any
copyright, patent, trade secret, or other proprietary right held by any third party; 
 8.6 EPAM’s employees and subcontractors shall, while on
GLOBOFORCE property or conducting any GLOBOFORCE related business, comply with all applicable, local, and National laws. 
 8.7 EPAM will test the Software
and any Deliverables using a then-current, industry-standard virus detection product prior to releasing any Software or Deliverable and to the best of EPAM’s knowledge that at the time of delivery no Disabling Code or Harmful Code has been
incorporated by EPAM into the Software or the Deliverable, except at the express written direction of Globoforce. “Harmful Code” means program code or programming instruction or set of instructions intentionally designed to disrupt,
disable, harm, interfere with or otherwise adversely affect the operation or use of such Software (typically described as viruses, Trojan horse, worm or back door) in the nature of self-replacing and self-propagating programming instructions.
“Disabling Code” means any code intentionally designed to disable and shut down the Software for the purpose of time limiting access (typically described as time bombs, lock-outs). 

8.8 It is and will be the sole owner or valid licensee of all rights in EPAM Materials (as defined below) used in the course of performing Services under this
Agreement it has and will have full and sufficient right to assign to Globoforce all rights assigned to Globoforce pursuant to this Agreement. 
 8.9 Except
as specifically instructed in writing by Globoforce, EPAM shall not incorporate or include in, the Software or any Deliverable any Viral Open Source Code (as defined below), licensed under any terms obligating Globoforce or any recipient to make
source code (or any part or derivative work thereof) available to third parties under any circumstances (including any open source code, free code, community source code or similar software, including any libraries or software, that is licensed
under the General Public License or any other license agreement or arrangement obliging Globoforce to make source or object code available to third parties (collectively, “Viral Open Source Code”) nor will the use of the Software or any
Deliverable require the use of Viral Open Source Code in order to function in its intended fashion. 
 8.10 WITH THE EXCEPTION OF THE PROVISIONS OF THIS
ARTICLE 8, EPAM MAKES NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 

  

					
	Confidential	  	©EPAM Systems Inc., 2010	  	Page 5

	9.	INDEMNIFICATION 

 9.1 EPAM shall indemnify and hold GLOBOFORCE harmless from and against any claim
relating to infringement of any patents, copyrights, trade secrets, or other proprietary right relating to the Software or a Deliverable resulting from a breach by EPAM of the warranty set forth in Section 8.5 as Globoforce’s sole and
exclusive remedy therefor. If all or any part of such Software, any Deliverable or Services is the subject of any claim or suit for infringement or if the use of the Software, a Deliverable, or Services or any part thereof is enjoined, EPAM shall,
at its expense, do one of the following things: (1) procure for Globoforce the right to use as described in this Agreement the Software, Deliverable or Services or the affected part thereof; (2) replace the Software, Deliverable or
Services or affected part with a non-infringing program of equivalent functionality; (3) modify the Software, Deliverable or Services or affected part to make it non-infringing; or (4) if none of the foregoing remedies are commercially
feasible, grant a pro rata refund of the fees paid by Globoforce for the infringing Software, Deliverable or the Services. 
 9.2 Further, EPAM and
Globoforce will each indemnify and hold the other harmless from and against any and all third party claims for damages awarded or settlements agreed to (including reasonable attorney’s fees and legal costs) resulting from the Services to the
extent of any grossly negligent act or omission by the indemnifying party, or any agent, representative or subcontractor of same, that causes any personal injury, death or substantial tangible property damage. In the event of a claim against
Globoforce by EPAM’s employees or contractors for wages, taxes or benefits relating to such personnel’s performance of the Services, EPAM agrees to indemnify, defend and hold Globoforce harmless from any and all such third party damages,
expenses and costs; provided, however, that with respect to individuals who have performed work for Globoforce (as employees or independent contractors or subcontractors of Globoforce) this indemnity does not extend to any wages or taxes or benefits
or claims relating to any period prior to the date of Employment by EPAM. 
 9.3 WARRANTY AND INDEMNITY EXCLUSIONS 

The warranty in Section 8.3 is limited to the extent of (i) and (iii through vi) and the warranties in Sections 8.5 and 8.10 and the indemnity
in Section 9.1 by EPAM are limited by and to the extent of (i) through (vi): (i) any express and written instruction given by an authorized representative of Globoforce to modify the Specifications, except to the extent such
modification does not cause the breach or infringement, (ii) compliance with the Specifications expressly communicated by Globoforce, except to the extent such Specification does not cause the breach or infringement (iii) any use of the
Software or any other applicable Deliverables in combination with other products, equipment, software, or data, or on a platform, not supplied, specified in this Agreement or otherwise approved in writing by EPAM, (iv) any modification of the
Software or any other applicable Deliverables other than by EPAM, (v) any use, reproduction, or distribution of any release of the Software or any other applicable Deliverables other than the most current release made available to Globoforce,
unless the infringing portion is identical to such infringing portion as contained in the then current, unaltered release, or (vi) any Deliverable or intellectual property provided by Client to EPAM for use in the Services. All warranties and
indemnities shall also be subject to the timely provision of notice to the other Party. 
  

	10.	LIMITATION OF LIABILITY 

 10.1 In no event shall either party have any liability in excess of:
(a) the Fees paid for the immediately preceding twelve month period with respect to the relevant Statement of Work, in the case of EPAM’s liability; or (b) the Fees paid or payable for the immediately preceding twelve month period
with respect to the relevant Statement of Work, in the case of Globoforce’s liability. 
 10.2 NEITHER PARTY SHALL BE LIABLE FOR SPECIAL, INDIRECT,
PUNITIVE, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, INCLUDING WITHOUT LIMITATION LOSS OF PROFITS, DATA, BUSINESS OR GOODWILL, OCCURRING IN CONNECTION WITH THIS AGREEMENT, WHETHER OR NOT FORESEEABLE AND REGARDLESS OF WHETHER SUCH PARTY HAS BEEN ADVISED
OF THE POSSIBILITY. 

  

					
	Confidential	  	©EPAM Systems Inc., 2010	  	Page 6

 10.3 The limitations in this Section shall not apply to: (a) the indemnification provisions set forth in
Section 9 above; and (b) breaches of the confidentiality obligations set forth in Section 12. With respect to a breach by EPAM of the harmful code or open source warranties set forth in Sections 8.7 and 8.11: (x) with
respect to direct damages resulting from such breaches, EPAM’s liability therefor shall be limited to two times the Fees paid for the immediately preceding twelve month period under the relevant SOW and (y) the Section 10.2 exclusion
shall not apply to special, indirect, punitive, incidental or consequential damages resulting from such breaches, but EPAM’s liability for such classes of damages shall be limited to two times the Fees paid for the immediately preceding twelve
month period under the relevant SOW. 
  

	11.	SOFTWARE PROPERTY RIGHTS; SOURCE CODE 

 11.1 Both parties agree that, ,all right, title, and
interest in and to all original works of authorship which EPAM or its independent contractors produce or compose in connection with the services to be performed hereunder for GLOBOFORCE or any of its affiliates shall be considered as the sole
property of GLOBOFORCE. Subsequently, GLOBOFORCE will have full control over the title of source code, documentation and any other identified deliverables in their full and complete delivered form, either on Electronic Media or Electronic Media
accompanied by associated written documentation. 
 11.2 Executable software programs produced by EPAM or its independent contractors and delivered to
GLOBOFORCE under the terms of this Agreement shall include any and all associated source code. EPAM agrees to provide such source code at no additional charge. 

11.3 EPAM hereby agrees to assign and does assign to Globoforce all of EPAM’s right, title and interest in any and all Deliverables (as specifically
identified in the relevant SOW discovered, conceived, developed or reduced to practice by EPAM personally or jointly with others in the course of performing Services under this Agreement. EPAM agrees to disclose to Globoforce the existence of all
such Deliverables, and further agrees to promptly execute and deliver all proper papers and perform all proper legal acts which Globoforce deems necessary or desirable to vest in Globoforce the entire right, title and interest in and to such
Proprietary Information, to enable Globoforce to file patent applications, and obtain and maintain Letters Patent with respect to patentable material and to enable Globoforce to confirm or perfect its rights in copyrightable material at
Globoforce’s reasonable request. EPAM agrees that all Deliverables which are subject to United States Copyright Law shall be deemed to be work(s) for hire. 

11.4 In developing the Software or furnishing the Services, or a Deliverable, EPAM may utilize proprietary methodologies, tools, models, software, procedures,
documentation, know-how and processes owned by EPAM whether or not pre-existing (“EPAM Materials”). If any EPAM Materials are incorporated into the Software or a Deliverable or furnished in connection with the Services, EPAM will so notify
Globoforce, and EPAM will hereby be conclusively deemed to have granted to Globoforce, subject to the license terms contained herein, a perpetual, worldwide, revocable, royalty free, non-exclusive license to (i) to use, execute, reproduce,
display, and perform and distribute any EPAM Materials associated therewith but only bundled and in conjunction with the use of the Services, Software or Deliverable(s) and not as a standalone product. 

 

	12.	CONFIDENTIALITY 

 12.1 A Party shall not disclose Confidential Information (as defined below) of the
other party (other than to an employee of or to a person to whom disclosure is reasonably necessary or appropriate in connection with the services hereunder) and shall not use Confidential Information of the other for any purpose beyond the
performance of services under this Agreement without the prior written consent of the other party. EPAM agrees to not transmit to Globoforce any information in its possession that is subject to a confidentiality obligation to any third party, except
as necessary to perform the Services. Upon termination of the Term, each party shall return to the other party all documents, records, plans, designs, notebooks and other evidences, including all copies thereof, of information, including proprietary
or Confidential Information, obtained by during the Term. The obligation of confidence under this Agreement shall not apply to information which the receiving party can show from documented records is or becomes generally available to the public
without fault of receiving party or which is obtained without restriction on publication or use from a third party having the right to disclose the same, or is independently developed by the 

  

					
	Confidential	  	©EPAM Systems Inc., 2010	  	Page 7

 
receiving party without use of the Confidential Information. “Confidential Information,” for purposes of this Agreement, shall include all information, in any medium, that is identified
as confidential or proprietary, or received under circumstances reasonably interpreted as imposing an obligation of confidentiality. It includes, but is not limited to, the Software and any deliverables, proprietary information and information
relating to such business matters as research and development, manufacturing processes, management systems and techniques, prices, terms, the identity and profiles of customers and suppliers and sales and marketing plans and information. Such
information does not lose its status as Confidential Information merely because it was known by a limited number of persons or entities or because it was not entirely originated by the disclosing party. Each party acknowledges that the Confidential
Information of the other party is a valuable, special and unique asset of the other party, and that any disclosure of such Confidential Information may be materially damaging to the other party. 

12.2 EPAM shall limit the use and circulation of the Confidential Information within EPAM’s own organization to a strict need-to-know basis necessary to
the performance of the Services and shall not disclose the Confidential Information to employees or agents not under confidentiality obligations substantially equivalent to those set forth herein. EPAM shall immediately notify Globoforce in the
event of a breach or suspected breach of this Section. 
 12.3 Each party expressly undertakes to retain in confidence the terms and conditions of this
Master Agreement, and will make no use of Confidential Information except under the terms and conditions of this Master Agreement. 
  

	13.	NON-SOLICITATION 

 Neither party shall (directly or indirectly), without the specific prior
written consent of the other party, : (i) make any offer of employment to, (ii) hire or enter into a consulting relationship with, or (iii) otherwise solicit for hire, or encourage any person who was employed by or retained as an
independent contractor of the other party or its affiliates within two (2) years of such person’s engagement in the relevant Services. A party in breach of this provision shall immediately compensate the other party in the amount of
EURO 100,000, as liquidated damages and not as a penalty. Notwithstanding anything to the contrary, this provision does not apply to any individuals who have performed work for Globoforce (as employees or independent contractors or
subcontractors to Globoforce) that EPAM engages as EPAM employees or independent contractors within the first 12 months of the commencement of the relevant SOW or for any transfers of such individuals to EPAM that might occur as an operation of
law. 
  

	14.	INSURANCE 

 14.1 Required Coverage. During the term of this Agreement and for so long as any SOW has not
yet been completed or terminated, EPAM will maintain, at its own expense, insurance coverage with limits of no less than those set forth below, and with insurers with a minimum A.M. Best Financial Strength rating of “A- (Excellent)” and
Financial Size rating of “X”, or equivalent ratings from other valid rating agencies and under forms of policies satisfactory to Globoforce. 

14.2 Professional Liability Insurance (“Errors and Omissions”) in the minimum amount of $2,000,000 per occurrence, covering losses from any errors,
omissions, negligent breach of duty and/or misrepresentations related to Service Provider’s obligations under this Agreement. 
 14.3 Certificates of
Insurance. Upon Globoforce’s request, EPAM will furnish Certificates of Insurance, evidencing that the policies required in Section 15.1, are in full force and effect. Each Certificate shall provide that the issuing insurance company shall
provide Globoforce with no less than thirty (30) days written notice prior to any cancellation, termination, or material alteration of the policy. 

14.4 No Limitation. The requirements set forth above as to type, limit and approval of insurance coverage to be maintained by EPAM will not in any manner
limit the liabilities and obligations assumed by EPAM under this Agreement. 

  

					
	Confidential	  	©EPAM Systems Inc., 2010	  	Page 8

	15.	GOVERNING LAW/JURISDICTION 

 15.1 This Agreement shall be governed by and construed in accordance with
the laws of the Commonwealth of Massachusetts without regard to its conflicts of law rules. 
  

	16.	GENERAL PROVISIONS 

 16.1 This Agreement, and the exhibits and attachments which are an integral part of
it, sets forth the entire agreement and understanding between the parties with respect to the subject matter hereof, and supersedes and replaces all prior written or oral agreements, negotiations, and understandings, if any, with respect thereto.

 16.2 In the event of conflict between the provisions of this Agreement and the SOW, the provision of the applicable SOW shall, to the extent of such
conflict, take precedence if the section of the agreement is expressly referenced. 
 16.3 Globoforce may assign this Agreement to any entity which succeeds
to some or all of the business of Globoforce through merger, consolidation, a sale of all or substantially all of the assets of Globoforce, or any similar transaction. EPAM acknowledges that the services to be rendered by it are unique and personal.
Accordingly, EPAM may not assign any of its rights or obligations under this Agreement. In the event of conflict between the provisions of the SOW and a subsequent SOW Amendment the provision of the applicable SOW Amendment shall, to the extent of
such conflict, take precedence. 
 16.4 This Master Agreement shall not be altered or otherwise amended except by the mutual written agreement of an
authorized signatory of each party. 
 16.5 The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver of
such provision or of the right of such party thereafter to enforce each and every provision. If any provision contained in this Agreement is declared or held invalid by a court of competent jurisdiction, such declaration or holding shall not affect
the validity of any other provision. 
 16.6 Neither party shall be liable for any failure to perform any of its obligations under this Agreement due to
unforeseen circumstances or causes beyond the parties’ reasonable control, including and without limitation, acts of God, acts of civil or military authorities, riot, embargoes, fire, earthquake, flood, accident, strikes, and inability to
secure transportation, facilities, fuel, energy, labor, or materials. 
 16.7 The paragraph headings used in this Agreement and the attachments are intended
for convenience only and do not supersede or modify any provision(s). 
 16.8 Notices shall be hand-delivered, transmitted via fax, or sent via standard
mail service to the addresses described above and to the attention of the respective contact individuals named in Section 5.2. 
 This document
(Sections 1 through 16.8) constitutes the entire MASTER SERVICE AGREEMENT, 
  

 

  

					
	Confidential	  	©EPAM Systems Inc., 2010	  	Page 9

  

EPAM Systems Inc. 
  

 
 IN WITNESS WHEREOF, the parties hereto have, by
their authorized representatives, executed this Master Services Agreement. 
  

					
	For “GLOBOFORCE”	 		 	For “EPAM”
			
	 /s/ Stephen Cromwell
	 		 	 /s/ Paul Twentyman

	By	 		 	By
			
	 Stephen Cromwell
	 		 	 Paul Twentyman

			
	Printed Name	 		 	Printed Name
			
	 CFO
	 		 	 Director of Operations, UK & Ireland

			
	Title	 		 	Title
			
	 9th December 2010
	 		 	 9th December 2010

			
	Date	 		 	Date

 16.9 

  

EPAM Systems Inc. 
  

 
 Globoforce 

Statement of Work #1 

Framework for the provision of Nearshore 

Development Services 

  
 © EPAM Systems.
2010 

  

EPAM Systems Inc. 
  

 
  

 Revision History 

 

							
	 Date
	  	 Version
	  	 Description
	  	 Author

	October 6th 2010	  	0.1	  	Draft	  	Paul Twentyman
	November 2nd 2010	  	0.2	  	Included Key resources clauses	  	Paul Twentyman
	November 10th 2010	  	0.3	  	Reviewed by Globoforce and comments from PT	  	Steve Cromwell & Paul Twentyman
	November 15th 2010	  	0.4	  	Changed termination, rates revision, resource changes and holiday notice. Introduce volume discounts.	  	Paul Twentyman
	November 18th 2010	  	0.5	  	Revised volume discounts. Agreed changed	  	Paul Twentyman
	November 22nd 2010	  	1.0	  	Issued	  	Paul Twentyman
	December 2nd 2010	  	1.1	  	Removed supersede statement on termination and replacement	  	Paul Twentyman

  
 © EPAM Systems.
2010 

  

EPAM Systems Inc. 
  

 
  

 Table of Contents 

 

							
	1.	 	Executive Summary	  	 	14	  
	2.	 	Term and Termination of Statement of Work	  	 	14	  
	 2.1
	 	 Term
	  	 	14	  
	 2.2
	 	 Termination of this SOW
	  	 	15	  
	3.	 	Nearshore Development Centre structure at Commencement	  	 	15	  
	 3.1
	 	 Key Personnel
	  	 	15	  
	 3.2
	 	 Resources
	  	 	15	  
	4.	 	Changes to Nearshore Development Centre Structure	  	 	15	  
	 4.1
	 	 Reductions in Nearshore Development Centre size
	  	 	16	  
	 4.2
	 	 Increases in Nearshore Development Centre size
	  	 	16	  
	 4.3
	 	 Ad Hoc Resources
	  	 	16	  
	 4.4
	 	 Replacement of staff
	  	 	16	  
	5.	 	Overtime, Holidays & Sickness	  	 	17	  
	 5.1
	 	 Holidays
	  	 	17	  
	 5.2
	 	 Sickness & Other absence
	  	 	18	  
	 5.3
	 	 Overtime
	  	 	18	  
	6.	 	Rates	  	 	19	  
	7.	 	Estimated Costs	  	 	20	  
	8.	 	Onsite costs & Expenses	  	 	20	  
	9.	 	Signatures	  	 	21	  

  
 © EPAM Systems.
2010 

  

EPAM Systems Inc. 
  

 
  

 Statement of Work 

This Statement of Work #1 dated November 2010 is made pursuant to the Master Agreement entered into by Globoforce Limited (“Globoforce”) and EPAM
Systems Ltd., (“EPAM”). 
 The terms and conditions that apply to this Statement of Work shall be the terms and conditions of the Master Agreement
and the terms and conditions set out in this Statement of Work. All definitions contained in the Master Agreement shall apply to this Statement of Work unless expressly varied to the contrary. Terms and conditions stated in the Master Services
Agreement (“MSA”) shall prevail unless terms are expressly referenced to the MSA and changed in this Statement for Work. 
  

	17.	Executive Summary 

 This Statement of Work (“SOW”) sets information about the nature of the
services to be provided to Globoforce Limited (“Globoforce”), with its principal place of business at 21 Beckett Way, Parkwest Business Park, Dublin 12, Ireland, under the terms of the MSA executed November 2010 between
“Globoforce” and EPAM Systems Ltd, 10 Albemarle Street, London, WIS 4HH (“EPAM”) 
 The information provided below is intended to be a
framework under which EPAM will provide a team of skilled resources, the Nearshore Development Centre (“NDC”), to meet “Globoforce”’s development and testing needs under a monthly billed, time and materials resource
agreement. It also sets out conditions for the expansion and reduction of this team size and the provision of additional resources on an as needed basis. 

At the start, the team will be working with Globoforce on Java based product development projects and may expand to other development projects and resource
requirements. 
 The monthly cost for this team will be based on the actual positions provided. If VAT is to be charged it will be shown separately on the
invoice. 
  

	18.	Term and Termination of Statement of Work 

 18.1 Term 

This SOW shall begin on 6th December 2010 (the “Commencement Date”) for a minimum of six months (“Minimum Term”) and shall remain in
effect until terminated. Rates will be reviewed and revised annually based on market conditions with the first revision not coming into effect until 1st January 2012. Rates revisions of up to 8% require a minimum of 3 month’s notice. Rates
revisions of over 8% require a minimum of 6 month’s notice. 

  
 © EPAM Systems.
2010 

  

EPAM Systems Inc. 
  

 
  

 18.2 Termination of this SOW 

After the Minimum Term “Globoforce” can terminate this SOW without cause by providing 3 months written notice to “EPAM”.
“Globoforce” will be obligated to pay for the full number of resources in the NDC at the time of termination, provided EPAM continues to make the resources available during the termination notice period. 

 

	19.	Nearshore Development Centre structure at Commencement 

 The NDC will comprise the Key Personnel and
Resources set out in the table below. Any changes to the profile and number of people in the NDC owing to permissible additions, reductions or terminations by “Globoforce” or “EPAM” will be managed in a Resource Plan that will be
reviewed and approved by “Globoforce” and “EPAM” at the beginning of each calendar month. 
 19.1 Key Personnel 

Key personnel are those people who are identified by each party as being key to the success of the operation of the Services and stricter rules of selection
and replacement apply to them. EPAM shall inform Globoforce of the identity, background and qualifications of the Key Personnel. Globoforce shall be entitled to interview any such person and may object to any such proposed appointment within 10
Working Days of being informed of or meeting any such candidate if, in its reasonable opinion, it considers the proposed candidate to be unsuitable. 
  

					
	 Location
	  	 Role
	  	 Description

	Minsk	  	Development Team Leads / Scrum Master/ Project Managers	  	Responsible for leading the development team at EPAM and coordinating activities with Globoforce’s Ireland development team leaders.
	[REST OF THE TABLE WAS NOT IN THE DOCUMENT]

 19.2 Resources 
 For all other
resources, Globoforce shall be allowed to review background and conduct interviews of the resources before they are allocated to the team. After the initial team, any remaining team resources will be named and selected by EPAM, if requested by
Globoforce background and qualifications will be provided. 
  

	20.	Changes to Nearshore Development Centre Structure 

 “Globoforce” can alter the number of
resources within the Nearshore Development Centre in the following ways. All resource changes will be reflected in the resource plan. 

  
 © EPAM Systems.
2010 

  

EPAM Systems Inc. 
  

 
  

 20.1 Reductions in Nearshore Development Centre size 

No reductions can be made in the first 3 months. After that the reductions below will be allowed. 

In any 3 month period “Globoforce” is able to reduce the number of individuals committed to the NDC by up to 15% of the team by providing 30 days
written notice or 50% of the team by providing 2 months written notice. Unrestricted reductions can be made by providing 3 month’s notice. 
 If the
nearshore team is reduced to 5 or less then the ad-hoc daily rates will apply. 
 All notice should be given in writing to the identified EPAM
representative. 
 20.2 Increases in Nearshore Development Centre size 

“Globoforce” can increase the size of the Nearshore Development Centre as they wish and EPAM will make reasonable endeavours to fulfil these
requests and within fifteen days will agree a resource ramp up plan with Globoforce. Notification of increases in size of the Nearshore Development Centre will be provided in writing to EPAM. Such additions shall be at the NDC rates set forth in
this SOW provided that the assignment is both full time and for a period of over 3 months. 
 20.3 Ad Hoc Resources 

From time to time “Globoforce” may wish to engage specialist EPAM resources for shorter assignments (less than 3 months) or longer assignments but
on a part time basis. This is defined as Ad Hoc Work. 
 “Globoforce” can engage EPAM to do work on ad hoc basis under this SOW. The AdHoc
assignment should be approved by “Globoforce” and EPAM in advance in writing. Ad Hoc rates will be applicable for that work and it will be invoiced monthly in arrears based on the Ad Hoc resources approved timesheets. 

20.4 Replacement of staff 
 “Globoforce” can request
replacement or removal of Nearshore Development Centre staff owing to under performance in writing to an authorized EPAM representative. The EPAM Account Manager will work with “Globoforce” to resolve any issues but if the issue cannot be
resolved within 30 days then either EPAM will replace the team member or “Globoforce” may choose to remove the position from the Resource Plan with immediate effect. 

With the exception of Key Personnel, should EPAM require the reassignment of a team member from the “Globoforce” team, EPAM will provide
“Globoforce” with 30 days written notice, unless that is within 45 days of a 

  
 © EPAM Systems.
2010 

  

EPAM Systems Inc. 
  

 
  

 
major product release and in this case the change shall not take place until after the product release. If EPAM requires the reassignment any of the Key Personnel, EPAM will provide three
(3) months written notice to Globoforce unless that is within 45 days of a major product release and in this case the change shall not take place until after the product release. 

In the event of each such reallocation of a staff member, EPAM will provide a suitable and equivalent skilled replacement for 10 working days knowledge
acquisition at no cost to “Globoforce”. No more than 10% of the team may be reassigned by EPAM in any three month period and no more than 25% in any calendar year, unless mutually agreed otherwise. 

In the event of any Nearshore Development Centre staff member resigning, including Key Personnel, EPAM will notify “Globoforce” as soon as EPAM has
received written notice from the staff member. In this case EPAM will provide a suitable and equivalent skilled replacement for 10 working days knowledge acquisition at no cost to “Globoforce”. If EPAM is unable to provide a reasonable
resource due to re-allocation or resignation within the 30 working day period, “Globoforce” may remove the Nearshore Development Centre team member from the Resource Plan with immediate effect. 

 

	21.	Overtime, Holidays & Sickness 

 EPAM and “Globoforce” will ensure that scope of work
and activities allocated to the EPAM team are realistic and achievable, and that agreed deadlines and quality requirements are appropriate for the size of the relevant EPAM team. 

The NDC monthly rates are inclusive of annual leave, national holidays and an allowance for sickness as set out below. Ad hoc daily rates are only billed for
actual hours worked. Rates do not include overtime which can be arranged as defined below. 
 21.1 Holidays 

Each EPAM employee will have 21 -25 vacation days, (depending on seniority and length of service) available to him/her during a 12 month period in addition to
nationally mandated holidays. 
 EPAM agrees to coordinate resources’ vacations in advance with “Globoforce”‘s Project Manager to
minimize any negative impact and that such vacations may have the delivery date and time of the Services and the Deliverables. EPAM will also pro-actively work with “Globoforce”‘s Test Team Leader to minimize impact of local national
holidays in EPAM locations. 

  
 © EPAM Systems.
2010 

  

EPAM Systems Inc. 
  

 
  

 No more than 10 vacation days ( except where agreed in advance by “Globoforce”) will be taken in
one continuous period and all proposed vacation dates will be communicated to “Globoforce” at least 15 calendar days in advance. If the proposed period of absence is more than 2 working days then 30 days advance notice as a minimum will be
given to “Globoforce”. EPAM will ensure that proposed vacation dates will not diminish the performance of EPAM’s duties and obligations under this MSA or to put at risk deadlines agreed to by EPAM in project work plans arising from
any SOW. 
 EPAM will coordinate vacations in such a way that no more than 25% of the EPAM team is on vacation at the same time, except during the Christmas
period when the figure is likely to be greater. Coverage during public holidays like this will be pre-agreed in advance. 
 EPAM will ensure that
“Globoforce” has visibility of planned holidays. 
 “Globoforce” has no responsibility to manage or direct employees, contractors or
agents of EPAM to ensure local and national legislative conditions are fulfilled. 
 21.2 Sickness & Other absence 

Any absence due to sickness, paternity, compassionate and other leave will be communicated to the authorized “Globoforce” representative by email
upon notification by the Nearshore Development Centre team member. For single periods of sickness over 5 days or multiple periods of absence totalling over 10 days during any quarter, EPAM will reduce the monthly billing accordingly. In the event
that the absence is more than 10 business days, EPAM will endeavour to temporarily replace the absent Nearshore Development Centre team member with a suitably qualified member of staff. 

For foreseen periods of absence due to sickness of greater than 1 month, EPAM will replace staff as in Section 3.4. 

21.3 Overtime 
 A normal working week is defined as 40 hours,
9am CET - 6pm CET. “Globoforce” can request that EPAM staff work overtime outside of these working hours. EPAM and “Globoforce” managers will pre-agree any overtime worked by EPAM Staff which will be charged in the following ways

 1) Evenings will be charged at 1.25 times the hourly rate 

2) Public Holidays and weekends will be charged at 1.5 times the hourly rate. 

  
 © EPAM Systems.
2010 

  

EPAM Systems Inc. 
  

 
  

	22.	Rates 

 The table below gives the daily and fixed monthly rates excluding VAT, sorted by role, location
and type of commitment; Nearshore Development Centre and Ad Hoc. EPAM warrants that pricing below is as good or better than Rates provided to other similar EPAM customers and if lower pricing is offered to other customers such discounts will be
provided to Globoforce within thirty days. 
  

																			
	 	  	 	  	Monthly NDC Rate	 	  	Ad Hoc Daily Rate	 
	Discipline	  	Role	  	Minsk	 	  	Other
Belarus	 	  	Minsk	 	  	Other
Belarus	 
	 Development
	  	Junior Developer	  	$	3,894	  	  	$	3,597	  	  	$	236	  	  	$	218	  
	 Development
	  	Developer	  	$	4,554	  	  	$	4,257	  	  	$	276	  	  	$	258	  
	 Development
	  	Senior Developer	  	$	5,280	  	  	$	4,917	  	  	$	320	  	  	$	298	  
	 Development
	  	Technical Architect or Lead Developer	  	$	6,039	  	  	$	5,676	  	  	$	366	  	  	$	344	  
	 Specialist
	  	DB Specialist	  	$	4,917	  	  	$	4,587	  	  	$	298	  	  	$	278	  
	 Specialist
	  	Build Engineering Specialist	  	$	5,478	  	  	$	5,148	  	  	$	332	  	  	$	312	  
	 Specialist
	  	Graphic Designer/UI Specialist	  	$	5,214	  	  	$	4,884	  	  	$	316	  	  	$	296	  
	 Specialist
	  	Technical Writer	  	$	4,455	  	  	$	4,158	  	  	$	270	  	  	$	252	  
	 Testing
	  	Junior Functional Tester	  	$	3,168	  	  	$	2,937	  	  	$	192	  	  	$	178	  
	 Testing
	  	Functional Tester	  	$	3,828	  	  	$	3,663	  	  	$	232	  	  	$	222	  
	 Testing
	  	Automation Tester	  	$	4,257	  	  	$	3,960	  	  	$	258	  	  	$	240	  
	 Testing
	  	Senior Tester	  	$	4,620	  	  	$	4,323	  	  	$	280	  	  	$	262	  
	 Testing
	  	Test Lead	  	$	5,379	  	  	$	5,049	  	  	$	326	  	  	$	306	  
	 Requirements
	  	Business Analyst	  	$	5,280	  	  	$	4,884	  	  	$	320	  	  	$	296	  
	 Requirements
	  	Senior Business Analyst	  	$	6,039	  	  	$	5,676	  	  	$	366	  	  	$	344	  
	 Management
	  	Project Manager	  	$	6,204	  	  	$	5,825	  	  	$	376	  	  	$	353	  
	 Management
	  	Programme/Engagement Manager	  	$	6,930	  	  	$	6,468	  	  	$	420	  	  	$	392	  

 Monthly NDC Rate applies to NDC team members who are added to the team for a minimum of 3 months. They are inclusive of
holidays and sickness as defined in section 5. For shorter engagements or part time additions the Ad Hoc daily rates apply. 
 Volume discounts will apply
to the monthly NDC Rate based on the total number of full time resources in the NDC. This excludes any resource that join or leave within that month and any Ad Hoc resources. 

l-25FTE-No discount 
 26-50 FTE - 2% discount 

51 or more - 3% discount 
 The discount is applied to all
monthly NDC resources. 

  
 © EPAM Systems.
2010 

  

EPAM Systems Inc. 
  

 
  

	23.	Estimated Costs 

  

	24.	Onsite costs & Expenses 

 From time to time onsite working will be required for certain periods
and on certain projects. EPAM shall notify “Globoforce” of such work and may only proceed with such work upon “Globoforce” written consent. 

A Business trip is where a NearShore resource travels to Globoforce’s office or other EPAM office for specific meetings and project activities. The
visits last less than 10 consecutive working days per visit and no more than cumulatively 35 working days annualized/pro-rated. Business trips must be approved by Globoforce prior to booking. For a business trip, actual reasonable travel and
accommodation is charged plus a daily Per Diem of $64per each calendar day of the business trip. 
 An Onshore assignment is where a NearShore resource is
assigned temporarily to work onshore at Globoforce’s site (i.e. the visits last more than 10 consecutive working days per visit or has become greater than 35 working days cumulatively annualized/pro-rated. For an onshore assignment, actual
reasonable travel and accommodation is charged plus an onshore rate of $166 per business day of the assignment. 
 In the event of longer term assignment,
EPAM can work together with Globoforce to arrange more cost effective use of rented furnished accommodation and agree a specific optimized cost model for the assignment. 

Any other expenses incurred not related to bring staff onsite will be passed directly to “Globoforce”. All expenses will be subject to prior written
approval by an authorized representative of “Globoforce”. 
  

	25.	Signatures 

 IN WITNESS WHEREOF, the parties hereto have, by their authorized representatives, executed
this SOW in duplicate originals. 
  

									
	Globoforce Limited	 		 	EPAM Systems Ltd
					
	By:	 	 /s/ Stephen Cromwell
	 		 	By:	 	 /s/ Paul Twentyman

	Stephen Cromwell	 		 	Paul Twentyman
	CFO	 		 	UK & Ireland Operations Director
			
	 9th December 2010
	 		 	 9th December 2010

			
	Date	 		 	Date

  
 © EPAM Systems.
2010

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