Document:

EX-10.1

 Exhibit 10.1 

APOLLO RESIDENTIAL MORTGAGE, INC. 

2011 EQUITY INCENTIVE PLAN 

FORM OF RESTRICTED STOCK UNIT AWARD AGREEMENT 

THIS AGREEMENT is made by and between Apollo Residential Mortgage, Inc., a Maryland corporation (the “Company”), and
                     (the “Grantee”), dated as of the     th day of
                    , 20    . 

WHEREAS, the Company maintains the Apollo Residential Mortgage, Inc. 2011 Equity Incentive Plan (the “Plan”) (capitalized terms used
but not defined herein shall have the respective meanings ascribed thereto by the Plan); 
 WHEREAS, in accordance with the Plan, the
Company may from time to time issue awards of Restricted Stock Units (“RSUs”) (also generally known and referred to under the Plan as Phantom Shares) to individuals and persons who provide services to, among others, the Company and the
Manager; 
 WHEREAS, the Grantee, as an employee of an affiliate of the Manager, is an Eligible Person under the terms of the Plan; and 

WHEREAS, in accordance with the Plan, the Committee has determined that it is in the best interests of the Company and its stockholders to
grant RSUs to the Grantee subject to the terms and conditions set forth below. 
 NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: 

 

	 	1.	Grant of RSUs. 

 The Company hereby grants the Grantee
             RSUs. The RSUs are subject to the terms and conditions of this Agreement, and are also subject to the provisions of the Plan. The Plan is hereby incorporated herein by
reference as though set forth herein in its entirety. To the extent such terms or conditions in this Agreement conflict with any provision of the Plan, the terms and conditions set forth in the Plan shall govern. Where the context permits,
references to the Company shall include any successor to the Company. 
  

	 	2.	Restrictions. 

 The RSUs awarded pursuant to this Agreement and the Plan shall be subject
to the terms and conditions set forth in this Paragraph 2. 
  

	 	(a)	Subject to clauses (b) and (c) below, the RSUs granted hereunder shall vest, solely to the extent the Grantee has not had a Termination of Service, in accordance with the following schedule: 

 

			
	 Vesting Date
	  	 Shares Vested

	[First Vesting Date]	  	[Number of Shares]
	[Second Vesting Date]	  	[Number of Shares]
	[Third Vesting Date]	  	[Number of Shares]

  
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	 	(b)	Subject to clause (c) below, upon the Grantee’s Termination of Service for any reason, all unvested RSUs shall thereupon, and with no further action, be forfeited by the Grantee, and neither the Grantee nor
any of his or her successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such RSUs. 

  

	 	(c)	Termination of Service as an employee shall not be treated as a termination of employment for purposes of this Paragraph 2 if the Grantee continues without interruption to serve thereafter as an officer or director of
the Company, or in such other capacity as determined by the Committee (or if no Committee is appointed, the Board), and the termination of such successor service shall be treated as the applicable termination. 

 

	 	3.	Voting and Other Rights. 

 The Grantee shall have no rights of a stockholder (including
the right to distributions or dividends), and will not be treated as an owner of Shares for tax purposes, except with respect to Shares that have been issued. Notwithstanding the foregoing, a DER is hereby granted to the Grantee, consisting of the
right to receive, with respect to each outstanding and non-forfeited RSU, cash in an amount equal to the cash dividend distributions paid in the ordinary course on a Share to the Company’s common stockholders, as set forth below. All DERs (if
any) payable on an outstanding and non-forfeited RSU, whether or not then vested, shall be paid not later than 30 days after any ordinary cash dividend distributions on Shares are paid to the Company’s common stockholders. Under no
circumstances shall the Grantee be entitled to receive both (i) a distribution and a DER with respect to a vested RSU (or its associated Share) or (ii) a distribution and a DER with respect to an unvested RSU. 

 

	 	4.	Settlement. 

 One Share of Common Stock of the Company shall be issued to the Grantee in
settlement of each vested RSU not later than the March 15th following the year in which the applicable Vesting Date occurs (as set forth in Paragraph 2(a) above) (either by delivering one or more certificates for such Shares or by entering such
Shares in book-entry form, as determined by the Company in its discretion). Such issuance shall constitute payment of the RSUs. References herein to issuances to the Grantee shall include issuances to any
beneficial owner or other person to whom (or to which) the Shares are issued. The Company’s obligation to issue Shares or otherwise make any payment with respect to vested RSUs is subject to the condition precedent that the Grantee or other
person entitled under the Plan to receive any Shares with respect to the vested RSUs deliver to the Company any representations or other documents or assurances required pursuant to Paragraph 5(l) and the Company may meet any obligation to
issue Shares by having one or more of its Subsidiaries or affiliates issue the Shares. The Grantee shall have no further rights with respect to any RSUs, including with respect to any DERs granted in connection with the RSU, that are paid or that
terminate pursuant to Paragraph 2(b). For the avoidance of doubt, to the extent the terms of this Paragraph 4 conflict with any terms of the Plan relating to the settlement of RSU or DERs, the terms of this Paragraph 4 shall govern. 

 

	 	5.	Miscellaneous. 

  

	 	(a)	The value of an RSU may decrease depending upon the Fair Market Value of a Share from time to time. Neither the Company, the Committee, the Manager, nor any other party associated with the Plan, shall be held liable for
any decrease in the value of the RSUs. If the value of such RSUs decrease, there will be a decrease in the underlying value of what is distributed to the Grantee under the Plan and this Agreement. 

  
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	 	(b)	Participation in the Plan confers no rights or interests other than as herein provided. With respect to this Agreement, (i) the RSUs are bookkeeping entries, (ii) the obligations of the Company under the Plan
are unsecured and constitute a commitment by the Company to make benefit payments in the future, (iii) to the extent that any person acquires a right to receive payments from the Company under the Plan, such right shall be no greater than the
right of any general unsecured creditor of the Company, (iv) all payments under the Plan (including distributions of Shares) shall be paid from the general funds of the Company in the manner specified in Paragraph 5(f) and (v) no special
or separate fund shall be established or other segregation of assets made to assure such payments (except that the Company may in its discretion establish a bookkeeping reserve to meet its obligations under the Plan). The RSUs shall be used solely
as a device for the determination of the payment to eventually be made to the Grantee if the RSUs vest pursuant to Paragraph 2. The award of RSUs is intended to be an arrangement that is unfunded for tax purposes and for purposes of Title I of the
Employee Retirement Income Security Act of 1974, as amended. 

  

	 	(c)	 Governing Law; Venue; Waiver of Jury Trial. This Agreement shall be governed by, interpreted under and construed and enforced in accordance
with the laws of the State of Delaware (without regard to any conflicts of laws principles thereof that would give effect to the laws of another jurisdiction), and any dispute, controversy, suit, action or proceeding (“Proceeding”)
arising out of or relating to this Award or any other Award, other than injunctive relief, will, notwithstanding anything to the contrary contained in the Plan, be settled exclusively by arbitration, conducted before a single arbitrator in New York
County, New York (applying Delaware law) in accordance with, and pursuant to, the Employment Arbitration Rules and Procedures of JAMS (“JAMS”). The decision of the arbitrator will be final and binding upon the parties hereto. Any
arbitral award may be entered as a judgment or order in any court of competent jurisdiction. Either party may commence litigation in court to obtain injunctive relief in aid of arbitration, to compel arbitration, or to confirm or vacate an award, to
the extent authorized by the U.S. Federal Arbitration Act or the New York Arbitration Act. The Company and the Grantee will share the JAMS administrative fees, the arbitrator’s fee and expenses. Each party shall be responsible for such
party’s attorneys’ fees. IF THIS AGREEMENT TO ARBITRATE IS HELD INVALID OR UNENFORCEABLE THEN, TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, THE GRANTEE AND THE COMPANY WAIVE AND COVENANT THAT THE GRANTEE AND THE
COMPANY WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY ACTION ARISING IN WHOLE OR IN PART UNDER OR IN CONNECTION WITH AN AWARD UNDER THE PLAN OR ANY MATTERS CONTEMPLATED THEREBY, WHETHER NOW OR
HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AND AGREE THAT ANY OF THE COMPANY OR ANY OF ITS AFFILIATES OR THE GRANTEE MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND
BARGAINED-FOR AGREEMENT AMONG THE COMPANY AND ITS AFFILIATES, ON THE ONE HAND, AND THE GRANTEE, ON THE OTHER HAND, IRREVOCABLY TO WAIVE THE RIGHT TO TRIAL BY JURY IN ANY PROCEEDING WHATSOEVER BETWEEN SUCH PARTIES ARISING OUT OF OR RELATING TO AN
AWARD UNDER 

  
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THE PLAN AND THAT ANY PROCEEDING PROPERLY HEARD BY A COURT UNDER AN AWARD AGREEMENT UNDER THE PLAN WILL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A
JURY. 

  

	 	(d)	The Committee may construe and interpret this Agreement and establish, amend and revoke such rules, regulations and procedures for the administration of this Agreement as it deems appropriate. In this connection, the
Committee may correct any defect or supply any omission, or reconcile any inconsistency in this Agreement or in any related agreements, in the manner and to the extent it shall deem necessary or expedient to make the Plan fully effective. All
decisions and determinations by the Committee in the exercise of this power shall be final and binding upon the Company and the Grantee. 

  

	 	(e)	All notices hereunder shall be in writing, and if to the Company or the Committee, shall be delivered to the Board or mailed to its principal office, addressed to the attention of the Board; and if to the Grantee, shall
be delivered personally, sent by facsimile transmission or mailed to the Grantee at the address appearing in the records of the Company. Such addresses may be changed at any time by written notice to the other party given in accordance with this
Paragraph 5(e). 

  

	 	(f)	The grant made hereby is made to an affiliate of the Manager in consideration of services rendered thereby, and is in turn made by such affiliate of the Manager in consideration of the services rendered by the Grantee
(as further set forth in that certain letter agreement between the Company and the Manager dated July 27, 2011). For purposes of the provisions in Paragraphs 2(a) through 2(c) above relating to employment with the Company (and the termination
thereof), and also for purposes of any references in the Plan to an employment agreement, “Company,” as the context so requires, shall include Manager and its affiliates to the extent that the Grantee is a provider of services to such
entities. 

  

	 	(g)	The failure of the Grantee or the Company to insist upon strict compliance with any provision of this Agreement or the Plan, or to assert any right the Grantee or the Company, respectively, may have under this Agreement
or the Plan, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement or the Plan. 

  

	 	(h)	The Company or the Manager shall be entitled to withhold from any payments or deemed payments any amount of tax withholding it determines to be required by law. 

 

	 	(i)	Notwithstanding anything to the contrary contained in this Agreement, to the extent that the Board determines that the Plan or the RSU is subject to Section 409A of the Code and fails to comply with the
requirements of Section 409A of the Code, the Board reserves the right (without any obligation to do so or to indemnify the Grantee for failure to do so), without the consent of the Grantee, to amend or terminate the Plan and this Agreement
and/or amend, restructure, terminate or replace the RSU in order to cause the RSU to either not be subject to Section 409A of the Code or to comply with the applicable provisions of such section. 

 

	 	(j)	The terms of this Agreement shall be binding upon the Grantee and upon the Grantee’s heirs, executors, administrators, personal representatives, transferees, assignees and successors in interest and upon the
Company and its successors and assignees, subject to the terms of the Plan. 

  

	 	(k)	 Unless otherwise permitted in the sole discretion of the Committee, (i) neither this Agreement nor any rights granted herein shall be assignable
by the Grantee, and (ii) no 

  
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purported sale, assignment, mortgage, hypothecation, transfer, pledge, encumbrance, gift, transfer in trust (voting or other) or other disposition of, or creation of a security interest in or
lien on, any RSUs or Shares by any holder thereof in violation of the provisions of this Agreement or the Plan will be valid, and the Company will not transfer any of said RSUs or Shares on its books nor will any Shares be entitled to vote, nor will
any distributions be paid thereon, unless and until there has been full compliance with said provisions to the satisfaction of the Company. The foregoing restrictions are in addition to and not in lieu of any other remedies, legal or equitable,
available to enforce said provisions. 

  

	 	(l)	The Grantee hereby agrees to perform all acts, and to execute and deliver any documents, that may be reasonably necessary to carry out the provisions of this Agreement, including but not limited to all acts and
documents related to compliance with securities, tax and other applicable laws and regulations. If the Grantee is married, the Grantee shall return the Exhibit A, executed by the Grantee’s spouse, along with this Agreement.

  

	 	(m)	The Grantee hereby represents and agrees that the Participant is not acquiring the RSUs or the Shares with a view to distribution thereof. 

 

	 	(n)	Nothing in this Agreement shall confer on the Grantee any right to continue in the employ or other service of the Company, its Subsidiaries or any other Participating Companies or interfere in any way with the right of
any such entity and its stockholders to terminate the Grantee’s employment or other service at any time. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any
proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a Termination of Service as provided in this Agreement or under the Plan. 

 

	 	(o)	This Agreement and the Plan contain the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, written or oral, with respect thereto. 

 

	 	(p)	This Agreement may be executed in any number of counterparts, including via facsimile, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument.

  

	 	(q)	Except as otherwise provided in the Plan or clause (i) above, no amendment or modification hereof shall be valid unless it shall be in writing and signed by all parties hereto. 

  
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 IN WITNESS WHEREOF, the Company and the Grantee have executed this Agreement as of the day and
year first above written. 
  

			
	APOLLO RESIDENTIAL MORTGAGE, INC.
		
	By:	 	  

		
	Name:	 	
	Title:	 	

 The undersigned hereby accepts and agrees to all of the terms and provisions of this Agreement,
including its Exhibit.EX-10.4

 Exhibit 10.4 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated as of January 31, 2013, effective as of February 1,
2013 (the “Effective Date”) by and between Northern Power Systems Utility Scale, Inc., a Delaware corporation (the “Company”) and Ciel R. Caldwell (“Employee”), sets forth the terms and
conditions of Employee’s employment with the Company.  
 WHEREAS, the Company wishes to employ Employee in the
capacities and on the terms and conditions set out below, and Employee has agreed to enter into such employment, in the capacities and on the terms and conditions set forth below.  

NOW, THEREFORE, the Company and Employee, in consideration of the respective covenants set out below, hereby agree as follows:

 1. Employment. Pursuant to the terms and conditions herein, the Company shall employ Employee from the Effective Date
until terminated as provided herein.
 2. Title, Duties and Responsibilities. Employee will serve as the Chief Financial Officer
of the Company and will report to the Company’s Chief Executive Officer (the “CEO”), and perform such duties, services, and tasks as requested by the CEO that are commensurate with her position. During Employee’s
employment with the Company, Employee shall devote her full business time, attention and ability to the performance of her duties hereunder and shall not be employed in any other capacity, or render services to any other party, without the prior
written consent of the Company.
 3. Compensation.

a. Base Salary. The Company shall pay Employee a salary of two hundred twenty-five thousand dollars ($225,000) annually
(“Base Salary”), subject to any increases approved by the Company’s Board of Directors (the “Board”), payable in accordance with the Company’s normal payroll practices and subject to applicable taxes and
withholding.  
 b. Stock Options. Employee has been granted stock options to purchase Common Stock of the Company and the
Company’s sister company, Northern Power Systems, Inc. (“Wind Power”). Such options have been issued pursuant to, and subject to the terms and conditions of, the Northern Power Systems Utility Scale, Inc. 2011 Stock Option
and Grant Plan and the Northern Power Systems, Inc. 2011 Stock Option and Grant Plan (the “Stock Option Plans”). Vesting of such options shall be fully accelerated in the event of a termination of Employee’s employment
without cause or by Employee for “Good Reason”, in each case within six months of a Change of Control, as defined in the Stock Option Plans. For purposes hereof, “Good Reason” shall mean: (i) any material diminution
in Employee’s functions, duties or responsibilities from and after the Change of Control; (ii) any reduction in the cash compensation payable to Employee from and after the Change of Control, other than as a part of a salary reduction
program affecting all other members of senior management; or (iii) a change of more than 50 

  
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miles in Employee’s permanent workplace without Employee’s consent from and after the Change of Control. In addition, it is anticipated that, based on performance and at the discretion
of the compensation committee of the Board (the “Compensation Committee”) and the Board, additional option grants or other equity awards may be made approximately annually with no less favorable vesting and exercise
terms. Vesting of any such additional option grants or other equity awards likewise shall be fully accelerated in the event of termination without cause or by Employee for Good Reason, in each case within six months of a Change of Control, as
defined in the Stock Option Plans. 
 c. Bonus. At the discretion of the Compensation Committee and the Board, an annual cash
bonus, targeted at 35% of Base Salary, will be awarded based on performance as described by approved Management By Objective (“MBO”) scorecard goals. The amount of any individual bonus will be discretionary, based on the
Board’s evaluation of individual performance as well as overall Company performance for the given year. All bonuses are subject to approval by the Board. Annual bonus pay out will occur by no later than March 15 of the following
year. Employee also shall be eligible to participate in any and all other bonus plans and packages that are made available to the Company’s executives, on a basis consistent with Employee’s position and then-current Base Salary and in
accordance with the policies and practices of the Company and the Board. 
 d. Expenses. During such periods as the business of the
Company shall require Employee’s significant, regular presence on-site at the Company’s facility in Barre, Vermont, the Company shall provide or reimburse Employee for housing in the Barre, Vermont area and will reimburse Employee for her
automobile mileage expenses incurred in traveling between her primary residence and Barre, Vermont, on a tax free basis. 
 4.
Benefits. 
 a. Health and Benefit Plans. Employee shall be eligible to participate in such medical, dental, disability,
life insurance and other benefit plans as may be maintained by the Company from time to time, on the terms and conditions set forth in such plans.  

b. Vacation. Employee shall be entitled to 20 days paid vacation per full calendar year, which shall accrue in accordance with the
Company’s vacation policy as in effect from time to time. Subject to the provisions of the Company’s policy as in effect from time to time, up to 15 days of unused vacation time may be carried over to subsequent years. Accrued unused
vacation time will be paid out upon termination of employment for any reason per the vacation policy. 
 c. Sick Leave. Employee
shall be entitled to five (5) days of paid sick leave per calendar year pursuant to Company policy. 
 d. Reimbursement for Business
Expenses. Upon presentation of appropriate documentation, Employee shall be reimbursed, in accordance with the 

  
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Company’s expense reimbursement policy, for all reasonable business expenses incurred in connection with Employee’s performance of services for the Company. All expense reports shall be
submitted no later than the end of the calendar year next following the calendar year in which such reimbursable expenses are incurred. 

5. Representations and Warranties. Employee represents, warrants and covenants to the Company that Employee is free to enter into
this Agreement and provide the services contemplated hereunder, and that the engagement hereunder does not conflict with or violate, and will not be restricted by, any pre-existing business relationship or agreement to which Employee is a party or
otherwise is bound. 
 6. Termination.

a. Generally. Employee’s employment with the Company may terminate for any of the following reasons, with or without any prior
notice (and such notice shall not be required) unless otherwise indicated: 
 i. The Company may terminate Employee for any
act or omission that constitutes “Cause,” provided that any termination for Cause within the meaning of subsection (i) below shall occur only after the Company has provided written notice to Employee describing the reasons for the
proposed termination and giving Employee an opportunity to cure such breach within a reasonable period not to exceed 10 days after such notice. For purposes hereof, “Cause” shall mean: (i) Employee’s willful failure
substantially to perform her duties and responsibilities to the Company or deliberate violation of a material Company policy; (ii) Employee’s commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that has
caused or is reasonably expected to result in material injury to the Company; (iii) unauthorized use or disclosure by Employee of any proprietary information or trade secrets of the Company or any other party to whom Employee owes an obligation
of nondisclosure as a result of her relationship with the Company; or (iv) Employee’s willful and material breach of her obligations under the Assignment of Inventions, Non-Disclosure and Noncompetition Agreement between Employee and the
Company dated February 19, 2011 (the “Assignment Agreement”). 
 ii. The Company may terminate Employee
without Cause or because of Employee’s death or “Disability”. For purposes hereof, “Disability” shall mean Employee’s failure or inability to substantially perform her duties hereunder because of illness or
injury, with or without reasonable accommodation, for either four (4) consecutive months or an aggregate of six (6) months in any rolling twelve (12) month period, as determined in the reasonable judgment of an independent qualified
physician selected by the Company to whom Employee or her personal representative (as the case may be) has no reasonable objection.

  
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 iii. Employee may resign from the Company, provided that in the case of such
resignation, Employee shall have provided the Company with at least 60 days prior written notice and upon receipt of such notice, the Company may elect, in its discretion, to terminate the employment of Employee at any time following such notice. In
the event the Company elects to terminate Employee following notice, Employee’s Base Salary and benefits (subject to customary employee participation) shall continue to be paid during the notice period. 

b. Payments Upon Termination by the Company for Cause. Upon the termination of Employee’s employment by the Company for Cause,
Employee shall be paid any unpaid Base Salary and vacation accrual due and owed for periods prior to the termination and any outstanding expense reimbursements (collectively, the “Accrued Obligations”). 

c. Payments Upon Termination by the Company for Death or Disability, or Resignation by Employee. Upon the termination of
Employee’s employment by the Company because of Employee’s death or Disability, or resignation by Employee, Employee (or, in the event of Employee’s death, Employee’s estate) shall be paid the Accrued Obligations and any bonus
which had been awarded to Employee but not yet paid on the date of termination. 
 d. Payments Upon a Termination by the Company without
Cause. Upon the termination of Employee’s employment by the Company without Cause, Employee shall be paid the Accrued Obligations, any bonus which had been awarded to Employee but not yet paid on the date of termination, and a pro-rated
bonus for the year in which the termination occurs for performance through the date of termination, as determined in good faith by the Compensation Committee and the Board pursuant to Section 3(c) above. The Company shall also provide
Employee the following severance for six (6) months from the termination date or, if sooner, up to the commencement of subsequent employment (the “Severance Period”): 

i. the applicable portion of the Base Salary in effect at the time, payable in six (6) installments over the Severance
Period beginning on the first payroll date following the expiration of the Revocation Period referenced below, and including any missed installments between the date of termination of employment and the first such payment date; and 

ii. all health and dental benefits, through the cost of COBRA continuation coverage for Employee and her eligible dependents
during the Severance Period (subject to Employee’s payment of premiums at the active employee rate), payable beginning on the first payroll date following the expiration of the Revocation Period referenced below, and including any missed
installments between the date of termination of employment and the first such payment date; provided that in the event that Employee obtains other employment that offers group health benefits, such payments by the Company under this
Section 6.d.ii shall immediately cease (with the Base Compensation referenced in Section 6.d.i above, the “Severance Compensation”). 

  
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 iii. all vacation benefits, payable beginning on the first payroll date following
the expiration of the Revocation Period referenced below. 
 7. Severance Compensation Terms. Severance Compensation shall be
payable on the dates on which such amounts would have been paid had Employee continued her employment hereunder, provided that Severance Compensation shall only be paid if Employee executes a general release (in a customary and
reasonable form) of any and all claims against the Company, Wind Power, and their affiliates, subsidiaries, officers, employees, and assigns, and continues to comply with the terms and conditions set forth in the Assignment Agreement. Employee
will be provided a period of at least twenty-one (21) days to consider whether to execute the general release, and will be provided a seven (7) day post-execution period in which her agreement to it may be revoked (“Revocation
Period”). 
 8. Entire Agreement/Amendments. This Agreement embodies the entire understanding with respect to the subject
matter hereof and supersedes all prior understandings and communications with respect to the matters herein except for the Assignment Agreement. Employee expressly affirms her prior and continuing obligations under the Assignment Agreement.
This Agreement may not be modified except in writing signed by Employee and a duly authorized officer of the Company. 
 9. Governing
Law. The validity, interpretation, construction, performance, and enforcement of this Agreement shall be governed by the laws of the state of Vermont. Any action commenced by employee against the Company shall be brought in the state or
federal courts in the state of Vermont, but not in any other jurisdiction. 
 10. Section 409A. This Agreement is intended to
comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations thereunder. To the extent that any provision in this Agreement is ambiguous as to its compliance with
Section 409A of the Code, the provision shall be interpreted in a manner so that no payment due to Employee shall be subject to an “additional tax” within the meaning of Section 409A(a)(1)(B) of the Code. To the extent that
any provision in the Agreement is ambiguous as to its compliance with Section 409A of the Code, or to the extent any provision in the Agreement must be modified to comply with Section 409A of the Code, such provision shall be read, or
shall be modified (with the mutual consent of the parties), as the case may be, in such a manner so that no payment due to Employee shall be subject to an “additional tax” within the meaning of Section 409A(a)(1)(B) of the Code.

For purposes of Section 409A of the Code, each payment made under this Agreement shall be treated as a separate payment. In no event
may Employee, directly or indirectly, designate the calendar year of any payment. All reimbursements provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A of the Code, including, where
applicable, the requirement that (i) any 

  
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reimbursement be for expenses incurred during Employee’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for
reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the
year in which the expense is incurred, and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit.

Notwithstanding anything to the contrary herein, if a payment or benefit under this Agreement is due to a “separation from service”
for purposes of the rules under Treas. Reg. § 1.409A-3(i)(2) (payments to specified employees upon a separation from service) and Employee is determined to be a “specified employee” (as determined under Treas. Reg. §
1.409A-1(i)), such payment or benefit shall, to the extent necessary to comply with the requirements of Section 409A of the Code, be made or provided on the later of the date specified by the foregoing provisions of this Agreement or the date
that is six months after the date of Employee’s separation from service (or, if earlier, the date of Employee’s death). Any installment payments that are delayed pursuant to this Section 10 shall be accumulated and paid in a lump
sum on the first day of the seventh month following Employee’s separation from service, and the remaining installment payments shall begin on such date in accordance with the schedule provided in this Agreement.

This Section 10 shall survive the termination of this Agreement. 

11. General Provisions. 

a. Notices. All notices and other communications hereunder shall be in writing or by written telecommunication, and shall be deemed
to have been duly given if delivered personally or if sent by overnight courier or by certified mail, return receipt requested, postage prepaid or sent by written telecommunication or telecopy, to the relevant address set forth below, or to such
other address as the recipient of such notice or communication shall have specified in writing to the other party hereto, in accordance with this Section 11(a). 

If to the Company, to: 29 Pitman Road, Barre, VT 05641 

Facsimile: (802) 461-2997 

If to Employee, at her last residence shown on the records of the Company or to such address as the Employee may designate in writing. 

Any such notice shall be effective (i) if delivered personally, when received, (ii) if sent by overnight courier, when receipted for, (iii) if
mailed, five (5) days after being mailed, and (iv) on confirmed receipt if sent by written telecommunication or telecopy, provided a copy of such communication is sent by regular mail, as described above. 

b. Severability. If any provision of this Agreement is deemed by a court of competent jurisdiction or otherwise or becomes invalid,
illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired. 

  
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 c. Waivers. No delay or omission by either party hereto in exercising any right,
power or privilege hereunder shall impair such right, power or privilege, nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege.

 d. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. In making proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart. 

e. Assigns. This Agreement shall be binding upon and inure to the benefit of the Company’s successors and Employee’s
personal or legal representatives, executors, administrators, heirs, distributees, devisees and legatees. This Agreement shall not be assignable by Employee, it being understood and agreed that this is a contract for Employee’s personal
services. 
 f. Ability to participate in next private placement offering. The parties here to acknowledge and agree that Employee
shall be permitted the opportunity to participate in the next private placement financing to be offered by Wind Power Holdings, Inc. or any subsidiary thereof, on the terms and conditions of such offering. 

Intentionally Left Blank 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above.

  

			
	Northern Power Systems Utility Scale, Inc.:
		
	By:	 	/s/ Troy C. Patton
		 	Troy C. Patton
		 	Chief Executive Officer

 
			
		
		 	Employee:
		
	 	 	/s/ Ciel R. Caldwell
		 	Ciel R. Caldwell

  
 8

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