Document:

MCY-2014.12.31-EX 10.23

EXHIBIT 10.23

AMENDMENT 2014-2 
 
MERCURY GENERAL CORPORATION                                                                                         
PROFIT SHARING PLAN

WHEREAS, Mercury General Corporation (the “Company”) maintains the Mercury General Corporation Profit Sharing Plan (the “Plan”); 
WHEREAS, pursuant to Section 9.1 of the Plan, the Company is authorized to amend the Plan; and
WHEREAS, the Company deems it in the best interests of the Plan and the Company to clarify the amount of matching contributions to be made on behalf eligible Plan participants.
NOW, THEREFORE, the Plan is amended, effective January 1, 2015, as follows:
Section 3.3(a) of the Plan is hereby amended to read as follows:
“(a)    Amount of Employer Matching Contribution.  
Subject to the limitations of Section 3.1, 3.7 and 5.1, for each payroll period or other interval determined by the Company, the Company shall make an Employer Matching Contribution to the Plan.  Such Employer Matching Contribution shall be the sum of (1) 100% of the Compensation Deferrals made by or on behalf of each Participant to the extent that such contributions do not exceed 1% of the Participant’s Compensation, plus (2) 50% of the Compensation Deferrals made by or on behalf of each Participant that exceed 1% of the Participant’s Compensation but do not exceed 6% of the Participant’s Compensation.  The Company shall pay to the Trustee the Employer Matching Contribution for any Plan Year within the time prescribed by law, including extensions of time, for the filing of the Company’s federal income tax return for the Company’s taxable year ending with or within the Plan Year to which the contribution relates.”
IN WITNESS WHEREOF, the Company has caused its duly authorized officers to execute this amendment to the Plan this 17th day of December, 2014.

	
		
	 
	 

	MERCURY GENERAL CORPORATION

	 
	 

	By:
	/s/ THEODORE STALICK

	 
	 

	Its:
	Senior Vice President and Chief Financial OfficerExhibit 10.1

 

Separation and Release of Claims Agreement

 

This Separation and Release of
Claims Agreement ("Agreement") is entered into by and between American DG Energy Inc., a Delaware Corporation,
(the "Employer") on behalf of itself, its subsidiary EuroSite Power Inc., its related party Ilios Dynamics Inc,
its related party Tecogen Inc and each of their respective employees, officers, directors, owners, shareholders and agents (collectively
referred to herein as the "Employer Group"), and Barry Sanders (the "Employee") (the Employer
and the Employee are collectively referred to herein as the "Parties") as of February 6, 2015 (the "Execution
Date").

 

The Employee's last day of employment with
the Employer is February 6, 2015 (the "Separation Date"). After the Separation Date, the Employee will not represent
himself as being an employee, officer, attorney, agent or representative of the Employer Group for any purpose. Except as otherwise
set forth in this Agreement, the Separation Date will be the employment termination date for the Employee for all purposes, meaning
the Employee will no longer be entitled to any further compensation, monies or other benefits from the Employer Group, including
coverage under any benefits plans or programs sponsored by the Employer Group.

 

1.Return of Property. By the Separation Date, the
Employee must return all Employer Group property, including identification cards or badges, access codes or devices, keys, credit
cards, electronically stored documents or files, physical files and any other Employer Group property in the Employee's possession.
Any files and records at home or elsewhere that contain proprietary Employer information should be destroyed.

 

2.Employee Representations. The Employee
hereby represents that he intends to irrevocably and unconditionally fully and forever release and discharge any and all
claims he may have, have ever had or may in the future have against the Employer Group that may lawfully be waived and
released arising out of or in any way related to his hire, benefits, employment or separation from employment with the
Employer Group. The Employee specifically represents, warrants and confirms that: (a) he has no claims, complaints or actions
of any kind filed against the Employer Group with any court of law, or local, state or federal government or agency; and (b)
he has been properly paid for all hours worked for the Employer Group, and that all commissions, bonuses and other
compensation due to him has been paid, including his final payroll check for his salary through and including the Separation
Date, which will be paid on the next regularly scheduled payroll date for the pay period including the Separation Date. Any
vested benefits under any of the Employer Group's employee benefit plans are excluded and shall be governed by the terms of
the applicable plan documents and award agreements. The Employee specifically represents, warrants and confirms that he has
not engaged in, and is not aware of, any unlawful conduct in relation to the business of the Employer Group. If any of these
statements are not true, the Employee cannot sign this Agreement and must notify the Employer Group immediately, in writing,
of the statements that are not true. Such notice will not automatically disqualify the Employee from receiving these
benefits, but will require the Employer Group review and consideration.

    	 

    	 

    

 

3.Separation Benefits. In consideration
for the Employee's execution, non-revocation of, and compliance with this Agreement, including the waiver and release of claims
in Section 4, the Employer Group agrees to provide the following benefits:

 

(a)Installment payments equal to
the Employee's current salary for a period of five months following the Separation Date, minus all relevant taxes and other withholdings
to be paid every other Thursday starting on the first pay period following the Effective Date. The first installment payment shall
include all amounts that would otherwise have been paid to the Employee during the period beginning on the Separation Date and
ending on the first payment date. Notwithstanding the foregoing, no payment shall be made or begin before the Effective Date of
this Agreement.

 

(b)Health insurance reimbursements
for six months at a rate of $1,000.00 per month.

 

(c)All existing Employee
options for American DG Energy, EuroSite Power, Ilios Dynamics and Tecogen will continue to vest for a period of two years. For
this two year period that options continue to vest, Employee will make himself available to Employer for the purpose of consultation
as outlined in item 7, Cooperation. After one year, should Employee work for a direct competitor to Employer as defined in Section
6d of this Agreement, options and consulting shall cease to vest upon notification to Employee by Employer. At that time, contractual
exercise terms shall apply.

 

(d)Employee shall keep
his computer, mobile phone and mobile phone number and for a period of one year from the effective date Employer will continue
to pay for Employee’s mobile phone service without changes in plan benefits.

 

(e)Upon the Employee's
signed request, the Employer Group will provide the Employee and/or a prospective employer written confirmation of the Employee's
employment with the Employer Group, including his job titles, dates of employment and salary information.

 

(f)The Employee understands, acknowledges
and agrees that these benefits exceed what he is otherwise entitled to receive upon separation from employment, and that these
benefits are in exchange for executing this Agreement. The Employee further acknowledges no entitlement to any additional payment
or consideration not specifically referenced herein.

 

4.Release.

 

(a)General Release and Waiver of Claims

 

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In
exchange for the consideration provided in this Agreement, the Employee and his heirs, executors, representatives, agents, insurers,
administrators, successors and assigns (collectively, the "Releasors") irrevocably and unconditionally fully and
forever waive, release and discharge the Employer Group, including the Employer's/each member of the Employer Group's parents,
subsidiaries, affiliates, predecessors, successors and assigns, and all of their respective officers, directors, employees, shareholders,
trustees, partners and OTHER RELATED PERSONS OR ENTITIES, in their corporate and individual capacities (collectively, the "Releasees")
from any and all claims, demands, actions, causes of actions, obligations, judgments, rights, fees, damages, debts, obligations,
liabilities and expenses (inclusive of attorneys' fees) of any kind whatsoever (collectively, "Claims"), whether
known or unknown, from the beginning of time to the date of the Employee's execution of this Agreement, including, without limitation,
any claims under any federal, state, local or foreign law, that Releasors may have, have ever had or may in the future have arising
out of, or in any way related to the Employee's hire, benefits, employment, termination or separation from employment with the
Employer Group and any actual or alleged act, omission, transaction, practice, conduct, occurrence or other matter, including,
but not limited to (i) any and all claims under Title VII of the Civil Rights Act, as amended, the Americans with Disabilities
Act, as amended, the Family and Medical Leave Act, as amended, the Fair Labor Standards Act, the Equal Pay Act, as amended, the
Employee Retirement Income Security Act, as amended (with respect to unvested benefits), the Civil Rights Act of 1991, as amended,
Section 1981 of U.S.C. Title 42, the Sarbanes-Oxley Act of 2002, as amended, the Worker Adjustment and Retraining Notification
Act, as amended, the National Labor Relations Act, as amended, the Age Discrimination in Employment Act, as amended, the Uniform
Services Employment and Reemployment Rights Act, as amended, the Genetic Information Nondiscrimination Act of 2008, all of their
respective implementing regulations and/or any other federal, state, local or foreign law (statutory, regulatory or otherwise)
that may be legally waived and released; (ii) any and all claims for compensation of any type whatsoever, including but not limited
to claims for salary, wages, bonuses, commissions, incentive compensation, vacation and/or severance; (iii) any and all claims
arising under tort, contract and/or quasi-contract law, including but not limited to claims of breach of an expressed or implied
contract, tortious interference with contract or prospective business advantage, breach of the covenant of good faith and fair
dealing, promissory estoppel, detrimental reliance, invasion of privacy, nonphysical injury, personal injury or sickness or any
other harm, wrongful or retaliatory discharge, fraud, defamation, slander, libel, false imprisonment, negligent or intentional
infliction of emotional distress; and (iv) any and all claims for monetary or equitable relief, including but not limited to attorneys'
fees, back pay, front pay, reinstatement, experts' fees, medical fees or expenses, costs and disbursements.

 

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5.Knowing and Voluntary Acknowledgment. The
Employee specifically agrees and acknowledges that: (i) the Employee has read this Agreement in its entirety and understands
all of its terms; (ii) the Employee has been advised of his right to consult with his attorney prior to executing this
Agreement; (iii) the Employee knowingly, freely and voluntarily assents to all of its terms and conditions including, without
limitation, the waiver, release and covenants contained herein; (iv) the Employee is executing this Agreement, including the
waiver and release, in exchange for good and valuable consideration in addition to anything of value to which he is otherwise
entitled; (v) the Employee understands that the waiver and release in this Agreement is being requested in connection with
the cessation of his employment with the Employer Group.

 

The Employee further acknowledges
that he has been give twenty-one (21) days to consider the terms of this Agreement and consult with an attorney of his choice,
although he may sign it sooner if desired. Further, the Employee acknowledges that he shall have an additional seven (7) days from
the date on which he signs this Agreement to revoke consent to his release by delivering notice of revocation to Gabriel Parmese
at the Employer Group, 45 First Ave, Waltham, MA 02451, before the end of such seven-day period. In the event of such revocation
by the Employee, the Employer Group shall have the option of treating this Agreement as null and void in its entirety.

 

This Agreement shall not become
effective, until the eighth (8th) business day after the Employee and the Employer Group execute this Agreement. Such date shall
be the Effective Date of this Agreement. No payments due to the Employee hereunder shall be made or begin before the Effective
Date.

 

6.Post-termination Obligations and Restrictive Covenants.

 

(a) Acknowledgment

 

The Employee understands and acknowledges
that by virtue of his employment with the Employer Group, he had access to and knowledge of Confidential Information, was in a
position of trust and confidence with the Employer Group, and benefitted from the Employer Group's goodwill. The Employee understands
and acknowledges that the Employer Group invested significant time and expense in developing the Confidential Information and goodwill.

 

The Employee further understands
and acknowledges that the restrictive covenants below are necessary to protect the Employer's legitimate business interests in
its Confidential Information and goodwill and in the Employee's unique, special or extraordinary services. The Employee further
understands and acknowledges that the Employer Group's ability to reserve these for the exclusive knowledge and use of the Employer
Group is of great competitive importance and commercial value to the Employer Group and that the Employer Group would be irreparably
harmed if the Employee violates the restrictive covenants below.

 

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(b)Confidential
Information

 

The Employee understands and acknowledges
that during the course of his employment by the Employer, he has had access to and learned about confidential, secret and proprietary
documents, materials and other information, in tangible and intangible form, of and relating to the Employer Group and its businesses
and existing and prospective customers, suppliers, investors and other associated third parties ("Confidential Information").
The Employee further understands and acknowledges that this Confidential Information and the Employer's ability to reserve it for
the exclusive knowledge and use of the Employer Group is of great competitive importance and commercial value to the Employer,
and that improper use or disclosure of the Confidential Information by the Employee might cause the Employer to incur financial
costs, loss of business advantage, liability under confidentiality agreements with third parties, civil damages and criminal penalties.

 

For purposes of this Agreement, Confidential
Information includes, but is not limited to, all information not generally known to the public, in spoken, printed, electronic
or any other form or medium, relating directly or indirectly to: the Employer’s business processes, practices, methods, policies,
plans, publications, documents, research, operations, services, strategies, techniques, agreements, contracts, terms of agreements,
transactions, potential transactions, negotiations, pending negotiations, know-how, trade secrets, computer programs, computer
software, applications, operating systems, software design, web design, work-in-process, databases, manuals, records, articles,
systems, material, sources of material, supplier information, vendor information, financial information, results, accounting information,
accounting records, legal information, marketing information, advertising information, pricing information, credit information,
design information, payroll information, staffing information, personnel information, employee lists, supplier lists, vendor lists,
developments, reports, internal controls, security procedures, graphics, drawings, sketches, market studies, sales information,
revenue, costs, formulae, notes, communications, algorithms, product plans, designs, styles, models, ideas, audiovisual programs,
inventions, unpublished patent applications, original works of authorship, discoveries, experimental processes, experimental results,
specifications, customer information, customer lists, client information, client lists, manufacturing information, factory lists,
distributor lists, and buyer lists of the Employer Group or its businesses or any existing or prospective customer, supplier, investor
or other associated third party, or of any other person or entity that has entrusted information to the Employer in confidence.

 

The Employee understands that the
above list is not exhaustive, and that Confidential Information also includes other information that is marked or otherwise identified
as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential or proprietary in the
context and circumstances in which the information is known or used.

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The
Employee understands and agrees that Confidential Information developed by him in the course of his employment by the Employer
shall be subject to the terms and conditions of this Agreement as if the Employer furnished the same Confidential Information to
the Employee in the first instance. Confidential Information shall not include information that is generally available to and known
by the public at the time of disclosure to the Employee, provided that such disclosure is through no direct or indirect fault of
the Employee or person(s) acting on the Employee's behalf.

 

(c)Disclosure and Use Restrictions

 

The Employee agrees and covenants: (i) to
treat all Confidential Information as strictly confidential; (ii) not to directly or indirectly disclose, publish, communicate
or make available Confidential Information, or allow it to be disclosed, published, communicated or made available, in whole or
part, to any entity or person whatsoever (including other employees of the Employer Group) not having a need to know and authority
to know and use the Confidential Information in connection with the business of the Employer Group and, in any event, not to anyone
outside of the direct employ of the Employer Group except as required in the performance of any of the Employee's remaining authorized
employment duties to the Employer and only after execution of a confidentiality agreement by the third party with whom Confidential
Information will be shared or with the prior consent of an authorized officer acting on behalf of the Employer Group in each instance
(and then, such disclosure shall be made only within the limits and to the extent of such duties or consent); and (iii) not to
access or use any Confidential Information, and not to copy any documents, records, files, media or other resources containing
any Confidential Information, or remove any such documents, records, files, media or other resources from the premises or control
of the Employer Group, except as required in the performance of any of the Employee's remaining authorized employment duties to
the Employer or with the prior consent of an authorized officer acting on behalf of the Employer Group in each instance (and then,
such disclosure shall be made only within the limits and to the extent of such duties or consent). Nothing herein shall be construed
to prevent disclosure of Confidential Information as may be required by applicable law or regulation, or pursuant to the valid
order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the
extent of disclosure required by such law, regulation or order. The Employee shall promptly provide written notice of any such
order to an authorized officer of the Employer Group.

 

The Employee understands and acknowledges
that his obligations under this Agreement with regard to any particular Confidential Information shall commence immediately and
shall continue during and after his employment by the Employer until such time as such Confidential Information has become public
knowledge other than as a result of the Employee's breach of this Agreement or breach by those acting in concert with the Employee
or on the Employee's behalf.

 

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(d)Non-competition

 

Because of Employer Group's legitimate business
interest as described herein and the good and valuable consideration offered to the Employee, for the period of six months, beginning
on the last day of the Employee's employment with the Employer Group, the Employee agrees and covenants not to engage in any CHP
Competitive Activity (combined heat and power) with turn-key or onsite applications that require CHP systems of 200 kWh or less.

 

For purposes of this non-compete clause, "Competitive
Activity" means to, directly or indirectly, in whole or in part, engage in, provide services to or otherwise participate
in, whether as an employee, employer, owner, operator, manager, advisor, consultant, agent, partner, director, stockholder, officer,
volunteer, intern or any other similar capacity, any entity whose “Primary Business” is selling cogeneration
equipment specified at 200 kWh’s or less. Primary Business means business from which greater than 50% of a company’s
revenue is derived.

 

(e)Non-solicitation of Employees

 

The Employee understands and acknowledges
that the Employer has expended and continues to expend significant time and expense in recruiting and training its employees and
that the loss of employees would cause significant and irreparable harm to the Employer. The Employee agrees and covenants that
he shall not, for a period of six (6) months beginning on Employee’s last day of employment with the Employer directly or
indirectly solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee who has
been an employee of the Employer Group during the one (1) year period prior to the Employee’s last day of Employment.

 

(f)Non-solicitation of Customers

 

The Employee understands and acknowledges
that the Employer has expended and continues to expend significant time and expense in developing customer relationships, customer
information and goodwill, and that because of the Employee's experience with and relationship to the Employer Group, he/she has
had access to and learned about much or all of the Employer Group's customer information. Customer Information includes, but is
not limited to, names, phone numbers, addresses, e-mail addresses, order history, order preferences, chain of command, pricing
information and other information identifying facts and circumstances specific to the customer and relevant to sales and services.

 

The Employee understands and
acknowledges that loss of this customer relationship and/or goodwill will cause significant and irreparable harm to the
Employer. The Employee agrees and covenants that, for a period of six months beginning on the last day of the Employee's
employment with the Employer Group, not to directly or indirectly solicit, Group's current and former customers for purposes
of offering or accepting goods or services competitive with those offered by the Employer Group as defined in Section 6d of
this Agreement.

 

This restriction shall only apply to each of the
following:

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(i)customers the Employee contacted
in any way during the 1 year before the last day of the Employee's employment with the Employer;

 

(ii)customers about
whom the Employee has trade secret or Confidential Information;

 

(iii)customers who became
customers during the Employee's employment with the Employer Group; and

 

(iv)customers about
whom the Employee has information that is not available publicly.

 

7.Cooperation. The parties agree that certain
matters in which the Employee has been involved during his employment may necessitate the Employee's cooperation with the Employer
in the future. Accordingly, for a period of five months following the Separation Date, to the extent reasonably requested by the
Employer, the Employee shall cooperate with the Employer in connection with matters arising out of the Employee's service to the
Employer; provided that the Employer shall make reasonable efforts to minimize disruption of the Employee's other activities. Employer
shall reimburse the Employee for reasonable expenses incurred in connection with such cooperation.

 

8.Consulting. Employee and Employer agree to
a consulting agreement for two years from the effective date. For consulting services over a two year period, the Employer will
pay Employee at a rate of $150.00 per hour. After the first year from the effective date, should Employee work for a direct competitor,
as defined in Paragraph 6(d) hereof Employer shall have no further obligation to utilize Employee’s services as a consultant.

 

Non-disparagement. The Employee agrees
and covenants that he shall not at any time make, publish or communicate to any person or entity or in any public forum any defamatory
or disparaging remarks, comments or statements concerning the Employer Group or its businesses, or any of its employees or officers,
and existing and prospective customers, suppliers, investors and other associated third parties. Employer agrees and covenants
that neither it nor members of its senior leadership team or board of directors shall at any time make, publish or communicate
to any person or entity or in any public forum any defamatory or disparaging remarks, comments or statements concerning the Employee.

 

This Section does not, in any way,
restrict or impede either party from exercising protected rights to the extent that such rights cannot be waived by agreement
or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an
authorized government agency, provided that such compliance does not exceed that required by the law, regulation or order.
The parties shall promptly provide written notice of any such order to the other .

 

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10.Confidentiality. The parties agree
and covenant that they shall not disclose any of the terms of or amount paid under this Agreement or the negotiation thereof to
any individual or entity; provided, however, that the Employee will not be prohibited from making disclosures to his attorney,
tax advisors and/or immediate family members, or as may be required by law.

 

This Section does not, in any
way, restrict or impede either party from exercising protected rights to the extent that such rights cannot be waived by agreement
or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized
government agency, provided that such compliance does not exceed that required by the law, regulation or order. The parties shall
promptly provide written notice of any such order to the other.

 

11.Remedies. In the event of a breach or threatened
breach by either party of any of the provisions of this Agreement, the aggrieved party shall be entitled to seek, in addition to
other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach
from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford
an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall
be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief.

 

In the event of a material breach
by either party of any of the provisions of this Agreement, the parties consent and agree that the aggrieved party shall be entitled
to seek, in addition to other available remedies, an award for liquidated damages for each material breach (the "Liquidated
Damages"). The parties acknowledge and agree that the harm caused by a material breach would be impossible or very difficult
to accurately estimate at the time of the breach and that the Liquidated Damages are a reasonable estimate of the anticipated or
actual harm that might arise from a material breach.

 

Should the Employee fail to abide by any
of the terms of this Agreement or post-termination obligations contained herein, or if he revokes the release contained in Section
4 within the seven-day revocation period, the Employer may, in addition to any other remedies it may have, reclaim any amounts
paid to the Employee under the provisions of this Agreement or terminate any benefits or payments that are later due under this
Agreement, without waiving the releases provided herein.

 

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12.Successors
and Assigns.

 

(a)Assignment by the Employer Group

 

The Employer Group may freely assign
this Agreement at any time. This Agreement shall inure to the benefit of the Employer Group and its successors and assigns.

 

(b)No Assignment by the Employee

 

The Employee may not assign this
Agreement or any part hereof. However, any benefit of this Agreement shall inure to the benefit of Employee’s estate. Any
purported assignment by the Employee shall be null and void from the initial date of purported assignment.

 

13.Arbitration. The parties agree that any
dispute, controversy or claim arising out of or related to the Employee's employment with the Employer, this Agreement,
including the validity of this arbitration clause, or any breach of this Agreement shall be submitted to and decided by
binding arbitration in Boston Massachusetts. Arbitration shall be administered under the rules of the American Arbitration
Association and any requirements imposed by MA law. Each party shall pay its own costs of arbitration. Any arbitral award
determination shall be final and binding upon the Parties and may be entered as a judgment in a court of competent
jurisdiction.

 

14.Governing Law: Jurisdiction and Venue. This
Agreement, for all purposes, shall be construed in accordance with the laws of Massachusetts without regard to
conflicts-of-law principles. Any action or proceeding by either of the Parties to enforce this Agreement shall be brought
only in any state or federal court located in the state of Massachusetts, county of Suffolk. The Parties hereby irrevocably
submit to the non exclusive jurisdiction of such courts and waive the defense of inconvenient forum to the maintenance of any
such action or proceeding in such venue.

 

15.Entire Agreement. Unless specifically
provided herein, this Agreement contains all the understandings and representations between the Employee and the Employer
Group pertaining to the subject matter hereof and supersedes all prior and contemporaneous understandings, agreements,
representations and warranties, both written and oral, with respect to such subject matter.

 

The Parties mutually agree that the Agreement
can be specifically enforced in court and can be cited as evidence in legal proceedings alleging breach of the Agreement.

 

16.Modification and Waiver. No provision
of this Agreement may be amended or modified unless such amendment or modification is agreed to in writing and signed by the
Employee and by Benjamin Locke of the Employer. No waiver by either of the Parties of any breach by the other party hereto of
any condition or provision of this Agreement to
be performed by the other party hereto shall be deemed a waiver of any similar or dissimilar provision or condition at the
same or any prior or subsequent time, nor shall the failure of or delay by either of the Parties in exercising any right,
power or privilege hereunder operate as a waiver thereof to preclude any other or further exercise thereof or the exercise of
any other such right, power or privilege.

 

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17.Severability. Should any provision
of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if any portion of this Agreement
shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder of this Agreement,
the balance of which shall continue to be binding upon the Parties with any such modification to become a part hereof and treated
as though originally set forth in this Agreement.

 

The Parties further agree that
any such court is expressly authorized to modify any such unenforceable provision of this Agreement in lieu of severing such unenforceable
provision from this Agreement in its entirety, whether by rewriting the offending provision, deleting any or all of the offending
provision, adding additional language to this Agreement or by making such other modifications as it deems warranted to carry out
the intent and agreement of the Parties as embodied herein to the maximum extent permitted by law.

 

The Parties expressly agree that
this Agreement as so modified by the court shall be binding upon and enforceable against each of them. In any event, should one
or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality
or unenforceability shall not affect any other provisions hereof, and if such provision or provisions are not modified as provided
above, this Agreement shall be construed as if such invalid, illegal or unenforceable provisions had not been set forth herein.

 

18.Captions. Captions and headings of
the sections and paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement is to be construed
by reference to the caption or heading of any section or paragraph.

 

19.Counterparts. This Agreement may be
executed in counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the
same instrument.

 

20.Non-admission. Nothing in this Agreement
shall be construed as an admission of wrongdoing or liability on the part of the Employer Group.

 

21.Notices. All notices under this Agreement
must be given in writing by regular mail at the addresses indicated in this Agreement or any other address designated in writing
by either party. When providing written notice to the Employer

 

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22.Tolling. Should the Employee violate
any of the terms of the post-termination obligations articulated herein, the obligation at issue will run from the first date on
which the Employee ceases to be in violation of such obligation.

 

23.Attorneys' Fees. Should the Employee
breach any of the terms of this Agreement or the post-termination obligations articulated referenced herein, to the extent authorized
by Massachusetts law, the Employee will be responsible for payment of all reasonable attorneys' fees and costs that Employer incurred
in the course of enforcing the terms of the Agreement, including demonstrating the existence of a breach and any other contract
enforcement efforts.

 

24.Section 409A. This Agreement is intended to comply
with Section 409A of the Internal Revenue Code of 1986, as amended (Section 409A) or an exemption thereunder and shall be construed
and administered in accordance with Section 409A. Notwithstanding any other provision of this Agreement, payments provided under
this Agreement may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any payments
under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service
or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, each
installment payment provided under this Agreement shall be treated as a separate payment. Any payments to be made under this Agreement
upon a termination of employment shall only be made upon a "separation from service" under Section 409A. Notwithstanding
the foregoing, the Employer makes no representations that the payments and benefits provided under this Agreement comply with Section
409A and in no event shall the Employer be liable for all or any portion of any taxes, penalties, interest or other expenses that
may be incurred by the Employee on account of non-compliance with Section 409A.

 

25.Acknowledgment of Full Understanding. THE EMPLOYEE
ACKNOWLEDGES AND AGREES THAT HE HAS FULLY READ, UNDERSTANDS AND VOLUNTARILY ENTERS INTO THIS AGREEMENT. THE EMPLOYEE ACKNOWLEDGES
AND AGREES THAT HE HAS HAD AN OPPORTUNITY TO ASK QUESTIONS AND CONSULT WITH AN ATTORNEY OF HIS CHOICE BEFORE SIGNING THIS AGREEMENT.
THE EMPLOYEE FURTHER ACKNOWLEDGES THAT HIS SIGNATURE BELOW IS AN AGREEMENT TO RELEASE AMERICAN DG ENERGY INC. FROM ANY AND ALL
CLAIMS.

 

SIGNATURE
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IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Execution Date above.

 

	 	AMERICAN DG ENERGY INC. 
 AND EMPLOYER GROUP
	 	 	 
	 	By 	/s/ Benjamin Locke 	 
	 	 	 
	 	Name: Benjamin Locke 	 
	 	Title: Co-CEO	 

 

	Signature:	  /s/ Barry
    Sanders	 
	Print Name: Barry Sanders

 

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