Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This employment agreement (this “Agreement”) by and between Lions Gate Entertainment Corp. (“Lions Gate”)
and Michael Burns (“Burns”) is entered into as of December 18, 2020. Lions Gate and Burns agree that as of the Effective Date (as defined below), the terms of this Agreement shall replace and supersede the amended and restated
employment agreement entered into as of October 30, 2012 and subsequently amended as of November 3, 2016, between Burns and Lions Gate (the “Prior Agreement”). 

This Agreement relates to the terms and conditions of Burns’ employment with Lions Gate for the term specified herein. 

The parties hereby agree as follows: 

1. Employment. Lions Gate hereby employs Burns to continue to serve in the capacity of Vice Chairman of Lions Gate on the terms and
conditions set forth herein. Burns shall have such powers and authority with respect to the management of Lions Gate consistent with his position hereunder as shall be determined by the Chief Executive Officer of Lions Gate, currently Jon
Feltheimer. 
 2. Term. Burns’ employment term under this Agreement shall commence on December 18, 2020 (the
“Effective Date”) and continue through and including October 30, 2023 (the “Expiration Date”), subject to early termination as provided in this Agreement (the “Term”). If the Term has not
previously terminated, Lions Gate shall have the right, in its sole discretion, to extend the Term by one (1) additional year (so that the new Expiration Date would be October 30, 2024) by providing written notice to Burns of its decision
to extend the Term no later than four (4) months before the Expiration Date. 
 Moreover, so long as this Agreement shall continue in
effect, Employee shall devote Employee’s full business time, energy and ability exclusively to the business, affairs and interests of the Company and matters related thereto, shall use Employee’s best efforts and abilities to promote the
Company’s interests, and shall perform the services contemplated by this Agreement in accordance with policies established by the Company. As long as Employee’s meaningful business time is devoted to the Company, Employee may devote a
reasonable amount of time to management of personal investments and charitable, political and civic activities, so long as these activities do not conflict with the Company’s interests or otherwise interfere with Employee’s performance
under this Agreement (including devotion of time to those entities listed in Exhibit A-2, attached hereto). 

3. Base Salary. Lions Gate shall pay Burns an annual fixed salary of US$1,000,000 from the Effective Date through the end of the Term
(“Base Salary”) payable in equal installments in accordance with Lions Gate’s standard payroll practices. 

 4. Discretionary Annual Bonus. 

(a) Bonus Opportunity. During the Term, Burns shall be eligible to receive a discretionary annual bonus (the “Discretionary
Bonus”) based on Lions Gate’s fiscal year. The Discretionary Bonus shall have a target of seventy-five percent (75%) of Burns’ Base Salary. The Compensation Committee (“Compensation Committee”) of Lions
Gate’s Board of Directors (the “Board”) shall establish performance criteria upon which the determination of the Discretionary Bonus amount, if any, shall be made, such criteria to be established at the beginning of the
applicable fiscal year. The Discretionary Bonus (or portion thereof if either Section 4(b) or 4(c) below applies), if any, that is payable in cash shall be payable in a timely manner, but in any event when bonuses, if any, are generally given
to Lions Gate’s other senior-level employees and in all events within the “short-term deferral” period provided under Treasury Regulation Section 1.409A-1(a)(4). 

(b) Equity Payment of Bonus Above $1.5 Million. In the event that the total Discretionary Bonus awarded to Burns for a given fiscal
year is greater than one million five hundred thousand dollars (US$1,500,000), the Compensation Committee may provide that all or a portion of the total amount of such Discretionary Bonus that is greater than one million five hundred thousand
dollars (US$1,500,000) will be paid in the form of an award of Lions Gate common shares (with the number of shares subject to any such award to be determined as provided in Section 4(c) below). Any such shares awarded to Burns pursuant to this
Section 4(b) shall be fully vested on the date on which the Compensation Committee determines whether any such Discretionary Bonus will be paid to Burns for such fiscal year (the date of any such determination by the Compensation Committee, the
“Bonus Determination Date”). 
 (c) Determination of Equity Awarded for Bonus. If any portion of a Discretionary
Bonus is to be paid to Burns in the form of an award of fully vested Lions Gate common shares pursuant to this Section 4, the number of shares subject to such award shall be determined by the Compensation Committee on the applicable Bonus
Determination Date based on the per-share closing price (in regular trading) of Lions Gate’s common shares on that date, and such shares shall be paid to Burns at the same time cash bonuses for such
fiscal year are paid as provided in Section 4(a). 
 5. Equity Award. 

(a) Grants of SARs. Burns shall be granted an award of 1,500,000 share appreciation rights (the “SAR Award”) with
respect to Lions Gate’s Class B non-voting common shares (the “Class B Shares”), with the per-share base price of the SAR
Award to equal to the closing price (in regular trading) of a Class B Share on the New York Stock Exchange (“NYSE”) on the grant date of the award (the “Grant Date”) and the maximum term of the award to be 10
years. The SAR Award shall be evidenced by and subject to the terms of a share appreciation rights award agreement in the form generally then used by Lions Gate to evidence grants of share appreciation rights under Lions Gate’s stock incentive
plan. 

  
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 (b) Date of Vesting; Date Exercisable. The SAR Award is subject to both time-based
and performance-based vesting requirements. Subject to Burns’ continued employment with Lions Gate (except as expressly provided in Section 10(b) or 10(c) below), the SAR Award shall vest and become exercisable in three equal annual
installments on each of the first three anniversaries of the Grant Date; provided, however, that no portion of the SAR Award shall be vested or exercisable prior to the date on which the volume-weighted average of the closing prices of the
Class B Shares over a period of thirty (30) consecutive trading days ending on or before the third (3rd) anniversary of the Grant Date is greater than or equal to two hundred percent
(200%) of the closing price of a Class B Share on the Grant Date (the “VWAP Performance Goal”), in each case in regular trading on the NYSE; and provided, further, that if the VWAP Performance Goal is not achieved on or before
the third (3rd) anniversary of the Grant Date, the SAR Award, to the extent then outstanding and whether or not the employment-based vesting requirement set forth above has been met, will
terminate and be cancelled on that third anniversary date. Notwithstanding the foregoing, if Lions Gate does not extend the Term by an additional year pursuant to Section 2 of this Agreement, and the Agreement terminates on October 30,
2023, if the VWAP Performance Goal has been achieved prior to that date, then the third tranche of the SAR award shall automatically vest on October 29, 2023. The number of common shares subject to, and the base price of, the SAR Award is
subject to customary adjustments upon the occurrence of stock splits, extraordinary dividends, spins and similar events. 
 (c) Payment
of SARs. Each right subject to the SAR Award shall be payable upon exercise of the right, as determined by the Compensation Committee in its sole discretion, in the form of either Class B Shares, Lions Gate’s Class A voting common
shares, cash or any combination of the foregoing, with such payment in any case to have an aggregate value (for each right so exercised) equal to the amount by which the fair market value (as determined under Lions Gate’s stock incentive plan)
of a Class B Share on the date of such exercise of the SAR Award exceeds the per-share base price of the SAR Award. The SAR Award may be exercised only if and to the extent vested. 

(d) Pre-Existing and Other Equity. The foregoing SAR Award shall be in addition to any equity
awards granted to Burns by Lions Gate prior to the Effective Date (the “Pre-Existing Equity”). The Pre-Existing Equity will continue to be governed by
its existing terms (subject to any express provision for acceleration of the Pre-Existing Equity provided herein). 

6. Change of Control. In the event of a “Change of Control” as defined below, the following shall apply: 

(a) Change of Control definition. For purposes of this Agreement, the term “Change of Control” shall mean: 

 

	 	(i)	 if any person, other than (a) any person who holds or controls entities that, in the aggregate (including
the holdings of such person), hold or control twenty-five percent (25%) or more of the outstanding shares of Lions Gate on the date of execution of this Agreement by each party hereto (collectively, a “Twenty-Five Percent Holder”)
or (b) a trustee or other fiduciary holding securities of Lions Gate under an employee benefit plan of Lions Gate, becomes the beneficial owner, directly or indirectly, of 

  
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securities of Lions Gate representing thirty-three percent (33%) or more of the outstanding shares as a result of one or more related transactions in the context of a merger, consolidation,
sale or other disposition of equity interests or assets of Lions Gate, excluding any transactions or series of transactions involving a sale or other disposition of securities of Lions Gate by a Twenty-Five Percent Holder; 

 

	 	(ii)	 if, as a result of one or more related transactions in the context of a merger, consolidation, sale or other
disposition of equity interests or assets of Lions Gate, there is a sale or disposition of thirty-three percent (33%) or more of Lions Gate’s assets (or consummation of any transaction, or series of related transactions, having similar effect)
with the exceptions of a sale of Starz, LLC or a sale of a portion thereof; 

  

	 	(iii)	 if, as a result of one or more related transactions in the context of a merger, consolidation, sale or other
disposition of equity interests or assets of Lions Gate, there occurs a change or series of changes in the composition of the Board as a result of which half or less than half of the directors are incumbent directors; 

 

	 	(iv)	 if, as a result of one or more related transactions in the context of a merger, consolidation, sale or other
disposition of equity interests or assets of Lions Gate (excluding any sale or other disposition of securities of Lions Gate by a Twenty-Five Percent Holder in a single transaction or a series of transactions), a shareholder or group of shareholders
acting in concert, other than a Twenty-Five Percent Holder in a single transaction or a series of transactions, obtain control of thirty-three percent (33%) or more of the outstanding shares of Lions Gate; 

 

	 	(v)	 if, as a result of one or more related transactions in the context of a merger, consolidation, sale or other
disposition of equity interests or assets of Lions Gate, a shareholder or group of shareholders acting in concert obtain control of at least half of the Board; 

 

	 	(vi)	 if there is a dissolution or liquidation of Lions Gate; or 

 

	 	(vii)	 if there is any transaction or series of related transactions that has the substantial effect of any one or
more of the foregoing, excluding, if applicable, any transaction or series of transactions involving a Twenty-Five Percent Holder as and to the extent so excluded above. 

  
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 (b) Change in Control Severance. 

(i) If, upon or within twelve (12) months following a Change of Control, Lions Gate terminates Burns’ employment without Cause
pursuant to Section 9(f) or Burns terminates his employment for Good Reason pursuant to Section 9(e)(iv), then, subject to Sections 10(d) and 11(b), Burns shall be entitled, in addition to the Accrued Obligations (as defined below),
to receive the Severance Benefits (as identified in Section 10(c) below and subject to the terms and conditions set forth therein); provided, however, that the amount of the cash severance payable to Burns in connection with such a termination
of his employment as provided in Section 10(c)(i) shall be equal to the greater of (1) the present value (using the then prevailing rate of interest charged to Lions Gate by its principal lender as the discount rate) of payment of
Burns’ Base Salary through the Expiration Date, or (2) US$3,500,000, such payment to be made as provided in Section 10(c)(i). 

(ii) As used herein, a “Separation from Service” occurs when Burns dies, retires, or otherwise has a termination of
employment with Lions Gate that constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h)(1), without regard to the optional alternative definitions
available thereunder. 
 (c) Definition of Accrued Obligations. As used in this Agreement, “Accrued Obligations”
means accrued but unpaid (i) Base Salary, (ii) expense reimbursement, (iii) vacation pay, if any, and (iv) vested equity awards. 

7. Benefits/Expenses. 

(a) During the Term, Burns shall be eligible for all employee benefits (including health insurance and 401(k) or other retirement plans) per
Lions Gate’s standard benefit program on terms not less favorable than those provided generally to other senior executives of Lions Gate. Burns shall be entitled to take paid time off without a reduction in salary, subject to the demands and
requirements of Burns’ duties and responsibilities under this Agreement. Burns shall not accrue any vacation. 
 (b) During the Term,
Lions Gate shall, consistent with its normal practice, promptly reimburse Burns for all travel, entertainment and other reasonable business expenses incurred by him in promoting the business of Lions Gate. In addition to the benefits provided in
Section 7(a), Burns shall be entitled to: (i) business class travel for flights in excess of four (4) hours, (ii) all customary perquisites provided to senior executives of Lions Gate generally, (iii) a cell phone, which may be
expensed, and, (iv) a reserved parking space. Without limiting the foregoing, Burns shall be permitted to use Lions Gate’s private plane for twenty (20) hours per year at the same rate as negotiated by Lions Gate’s Chief
Executive Officer, reimbursing Lions Gate for the total number of hours used in the same manner as Lions Gate’s Chief Executive Officer. In addition, Burns shall be entitled to a car allowance of US$1,111 per month. 

(c) During the Term, Lions Gate shall provide Burns with life and disability insurance policies providing Burns (or his estate, as applicable)
with US$2,000,000 in benefits. Burns shall reasonably cooperate with Lions Gate in fulfilling its obligations to provide such policies. 

  
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 (d) Notwithstanding the foregoing, nothing contained in this Agreement shall obligate Lions
Gate to adopt or implement any benefits, or prevent or limit Lions Gate from making any blanket amendments, changes, or modifications of the eligibility requirements or any other provisions of, or terminating, in its entirety, any benefit at any
time, and Burns’ participation in or entitlement under any such benefit shall at all times be subject in all respects thereto; provided, however, that Burns shall be treated no less favorably than other senior executives of Lions Gate
generally. 
 8. Devotion of Time/Services. Burns recognizes that consistent with his position as Vice Chairman he is required to
devote substantially all of his business time and services to the business and interests of Lions Gate and, due to Burns’ high level position, failure to do so would cause a material and substantial disruption to Lions Gate’s operations.
Consistent with the foregoing, Burns agrees that he shall not undertake any activity that is in direct conflict with the essential enterprise related interests of Lions Gate. As long as Burns’ meaningful business time is devoted to Lions Gate,
Burns may devote a reasonable amount of time to both minimal outside consulting activities, management of personal investments and charitable, political and civic activities, as well to service on the board of directors/advisors of the
companies/organizations listed in Exhibit A-2, attached hereto, so long as these activities do not directly conflict with Lions Gate’s interests or otherwise materially interfere with Burns’
performance under this Agreement. 
 9. Termination. Burns’ employment and the Term shall terminate upon the happening of any
one or more of the following events: 
 (a) upon mutual written agreement between Lions Gate and Burns; 

(b) upon the death of Burns; 

(c) by Lions Gate giving written notice of termination to Burns during the continuance of any Disability (as defined below) at any time after
he has been unable to perform the material services or material duties required of him in connection with his employment by Lions Gate as a result of physical or mental Disability (or disabilities) which has (or have) continued for a period of
twelve (12) consecutive weeks, or for a period of sixteen (16) weeks in the aggregate, during any twelve (12) consecutive month period. Notwithstanding any other provision herein, during any period of Disability hereunder which lasts
for more than two (2) consecutive weeks, in its exercise of good faith business judgment, and in consultation with Burns (if practical), the Board may appoint an interim Vice Chairman to fulfill the duties and responsibilities of Burns and such
appointment shall not be deemed a breach of this Agreement; provided, however, that upon the termination of Burns’ Disability, Burns shall immediately resume the position of sole Vice Chairman and his duties and responsibilities in accordance
with the terms of this Agreement and the interim Vice Chairman shall cease serving in such capacity. For purposes of this Agreement, “Disability” shall mean a physical or mental impairment which renders Burns unable to
perform the essential functions of his position, with even reasonable accommodation, which does not impose an undue hardship on Lions Gate. Lions Gate reserves the right, acting reasonably and in good faith, to make the determination of Disability
under this Agreement based upon information supplied by Burns and/or his medical personnel, as well as information from medical personnel (or others) selected by Lions Gate or its insurers. Burns shall have ten (10) business days following
written notice by Lions Gate to cure the Disability, if such Disability is capable of cure; 

  
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 (d) by Lions Gate giving written notice of termination for Cause. “Cause,”
as used herein, means that Burns has engaged in or committed any of the following: (i) conviction of a felony, except a felony relating to a traffic accident or traffic violation; (ii) gross negligence or willful misconduct with respect to
Lions Gate, which shall include, but is not limited to theft, fraud or other illegal conduct, refusal or unwillingness to perform employment duties, sexual harassment, any willful (and not legally protected act) that is likely to and which does in
fact have the effect of injuring the reputation, business or a business relationship of Lions Gate, violation of any fiduciary duty, and violation of any duty of loyalty; (iii) any material breach of this Agreement by Burns; or
(iv) conduct in violation of Section 11 of this Agreement; provided, however, Lions Gate shall not terminate Burns’ employment hereunder pursuant to this Section 9(d) unless it shall first give Burns written notice of the alleged
defect and the same is not cured within fifteen (15) business days of such written notice; 
 (e) by Burns giving notice of his
intention to terminate for one of the following reasons: 
  

	 	(i)	 Burns accepts a full time position with the federal or state government, 

 

	 	(ii)	 Burns accepts a full time position with a philanthropic or non-profit
organization, 

  

	 	(iii)	 Burns moves his permanent residence from the U.S. to another country, or 

 

	 	(iv)	 Burns terminates his employment with Lions Gate for Good Reason. For purposes of this Agreement, “Good
Reason” shall mean (in each case without the written consent of Burns): 

  

	 	(A)	 a material diminution in Burns’ position, authorities, duties or responsibilities from the level in effect
on the Effective Date; 

  

	 	(B)	 a material reduction of Burns’ Base Salary or target Discretionary Bonus as in effect on the commencement
of the Term or as the same may be increased from time to time; 

  

	 	(C)	 a requirement by Lions Gate that Burns report to anyone other than the Chief Executive Officer, currently Jon
Feltheimer; 

  

	 	(D)	 any material breach by Lions Gate of this Agreement or any other compensatory arrangement between Lions Gate
and Burns. 

  
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 Good Reason shall not include death or Disability. Burns’ continued employment shall
not constitute consent to, or a waiver of rights with respect to, any circumstance constituting Good Reason hereunder; provided, however, that a termination of employment by Burns shall not be considered a termination for Good Reason unless it
occurs within eighteen (18) months following the event claimed to constitute Good Reason. Burns shall provide Lions Gate written notice of any event claimed to constitute Good Reason within ninety (90) days after the occurrence of the
event (or, if later, the date on which Burns knows or reasonably should know of such occurrence), and Lions Gate shall have an opportunity to cure any claimed event of Good Reason within thirty (30) days after its receipt of such notice from
Burns. Lions Gate shall notify Burns of the timely cure of any claimed event of Good Reason and the manner in which such cure was effected, and upon receipt of written notice from Burns of his concurrence that a cure has been effectuated, any notice
of termination delivered by Burns based on such claimed Good Reason shall be deemed withdrawn and shall not be effective to terminate this Agreement. 

(f) by Lions Gate giving notice to Burns of termination without Cause. 

10. Effect of Termination. 

(a) With Cause. If Lions Gate terminates this Agreement pursuant to Section 9(d) above, Lions Gate shall have no further
obligation to pay Burns any compensation of any kind other than the Accrued Obligations. 
 (b) Death or Disability. In the event of
the termination of this Agreement pursuant to Section 9(b) or (c) above, Lions Gate shall have the obligation to pay Burns’s estate or Burns, as applicable, any Accrued Obligations. In addition, in the event of the termination of this
Agreement due to Burns’ death or Disability, (i) any Pre-Existing Equity, to the extent then outstanding and unvested, will be fully vested and, in the case of stock options and SARs, become
exercisable upon the date of death in the case of death or upon the date of termination for Disability in the case of Disability; and (ii) if such termination occurs during the three-year period after the Grant Date (as defined above), the
time-based vesting requirements applicable to the SAR Award set forth in Section 5(b) above shall be deemed satisfied on the date of such termination and, if the VWAP Performance Goal has not previously been met, the SAR Award will remain
outstanding and vest in full if the VWAP Performance Goal is met before the end of such three-year period (and, if the VWAP Performance Goal is not achieved, the SAR Award will terminate on the last day of such three-year period). In the event of a
termination due to Burns’ Disability, Lions Gate shall continue to pay the premiums for life and disability premiums for Burns as contemplated by Section 7(c) above through the Expiration Date. 

(c) Termination Without Cause or by Burns for Good Reason. If Lions Gate terminates Burns’ employment without Cause pursuant to
Section 9(f) or Burns terminates his employment with Lions Gate for Good Reason pursuant to Section 9(e)(iv) above and, in either case, the release requirement under Section 10(d) is met, then Lions Gate shall pay Burns, subject to
Section 12(b) and in addition to the Accrued Obligations, the following payments and benefits (collectively, the “Severance Benefits”): 

  
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	 	(i)	 except as provided in Section 6(b), a cash severance payment equal to the present value (using the then
prevailing rate of interest charged to Lions Gate by its principal lender as the discount rate) of payment of Burns’ Base Salary through the Expiration Date, such payment to be made in a lump sum as soon as practicable after (and in all events
not more than sixty (60) days after) the date of Burns’ Separation from Service; provided, however, that if the 60-day period following Burns’ Separation From Service spans two calendar years,
such payment shall be made within such 60-day period but in the second of the two calendar years; 

  

	 	(ii)	 if Burns timely elects continued health coverage for himself (and, if applicable his eligible dependents) under
the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), Lions Gate will pay or reimburse Burns’ COBRA premiums for up to six (6) months following his Separation from Service (provided that Lions Gate’s
obligation to make any payment pursuant to this sentence shall cease upon the date Burns becomes eligible for substantially similar coverage under the health plan of a future employer); 

 

	 	(iii)	 (x) any Pre-Existing Equity, to the extent then outstanding and
unvested, will be fully vested and, in the case of stock options and SARs, become exercisable upon the date of Burns’ Separation from Service; and (y) if such termination occurs during the three-year period after the Grant Date (as defined
above), the time-based vesting requirements applicable to the SAR Award set forth in Section 5(b) above shall be deemed satisfied on the date of such termination and, if the VWAP Performance Goal has not previously been met, the SAR Award will
remain outstanding and vest in full if the VWAP Performance Goal is met before the end of such three-year period (and, if the VWAP Performance Goal is not achieved, the SAR Award will terminate on the last day of such three-year period);

  

	 	(iv)	 Burns shall be entitled to payment of (a) any Discretionary Bonus that would otherwise have been paid to
Burns had his employment with Lions Gate not terminated with respect to any fiscal year that ended before the date of his termination (to the extent such bonus has not previously been paid) and (b) (x) any Discretionary Bonus that would
otherwise have been paid to Burns had his employment with Lions Gate not terminated with respect to the fiscal year in which the date of his termination occurs (or, in the case of a termination of Burns’ employment described in
Section 6(b)(i), the greater of the target amount of Burns’ Discretionary Bonus in effect for such fiscal year and any Discretionary Bonus that would otherwise have been paid to Burns had his employment with Lions Gate not terminated with
respect to such fiscal year), multiplied by (y) a fraction, the numerator of which is the total number of days in such fiscal year on which Burns was employed by Lions Gate and the denominator of which is the total number of days in such fiscal
year; and 

  
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	 	(v)	 Lions Gate shall continue to pay the premiums for life and disability insurance for Burns as contemplated by
Section 7(c) above through the Expiration Date. 

 If Burns’ employment with Lions Gate is terminated pursuant
to Sections 6(b), 9(a) – (c) or 9(e) – (f) above, Burns shall have no obligation to mitigate and Lions Gate shall have no right to offset any income thereafter received by Burns against Lions Gate’s payment obligations
to him. 
 (d) Release. Notwithstanding any other provision herein, Burns’ right to receive any severance benefits pursuant to
Section 6(b) or Section 10(c) of this Agreement shall be subject to his execution and delivery to Lions Gate of a general release of claims in substantially the form attached hereto as Exhibit A (with such changes
as may be reasonably required to such form to help ensure its enforceability in light of any changes in applicable law) not more than twenty-one (21) days (forty-five (45) days if required under
applicable law) after the date Lions Gate provides the final form of release to Burns (and Burns’ not revoking such release within any revocation period provided under applicable law). Lions Gate shall provide the final form of release
agreement to Burns not later than seven (7) days following the termination date. 
 11. Public Morals. Burns shall act at all
times with due regard to public morals, conventions and Lions Gate policies as applied to other senior executives of Lions Gate. If Burns commits any act, or if Burns conducts Burns’ behavior in a manner, which shall be an offense involving
moral turpitude under federal, state or local laws, or which might tend to bring Burns to public disrepute, contempt, scandal or ridicule based on a commonly held standard of causing material harm to Lions Gate, Lions Gate shall have the right to
terminate this Agreement upon written notice to Burns given at any time following the date on which the commission of such act, or such conduct, shall have become known to Lions Gate pursuant to Section 9(d)(iv) of this Agreement. 

12. Section 409A. 

(a) It is intended that any amounts payable under this Agreement and any exercise of authority or discretion hereunder by Lions Gate or Burns
shall comply with Section 409A of the Code (including the Treasury regulations and other published guidance relating thereto) (“Section 409A”) so as not to subject Burns to payment of any interest or
additional tax imposed under Section 409A. To the extent that any amount payable under this Agreement would trigger the additional tax imposed by Section 409A, this Agreement shall be construed and interpreted in a manner to avoid such
additional tax yet preserve (to the nearest extent reasonably possible) the intended benefit payable to Burns. 

  
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 (b) Notwithstanding any other provision herein, if Burns is a “specified employee”
within the meaning of Treasury Regulation Section 1.409A-1(i) as of the date of Burns’ Separation from Service, Burns shall not be entitled to any payment or benefit pursuant to Section 6(b) or
10(c) above until the earlier of (i) the date which is six (6) months after his Separation from Service for any reason other than death, or (ii) the date of Burns’ death. Any amounts otherwise payable to Burns upon or in the
six (6) month period following Burns’ Separation from Service that are not so paid by reason of this paragraph shall be paid as soon as practicable (and in all events within thirty (30) days) after the date that is six (6) months
after Burns’ Separation from Service (or, if earlier, as soon as practicable, and in all events within thirty (30) days, after the date of Burns’ death) and any such payments shall be increased by an amount equal to interest on such
payments for the period commencing with the date such payment would have otherwise been made but for this Section 12(b) (the “Original Payment Date”) and ending on the date such payment is actually made, at an interest rate
equal to the prevailing rate of interest charged to Lions Gate by its principal lender in effect as of the Original Payment Date. The provisions of this paragraph shall only apply if, and to the extent, required to avoid the imputation of any tax,
penalty or interest pursuant to Section 409A of the Code. 
 (c) To the extent that any benefits or reimbursements pursuant to
Section 6(b), 7 or 10(c) are taxable to Burns, any reimbursement payment due to Burns pursuant to any such provision shall be paid to Burns on or before the last day of Burns’ taxable year following the taxable year in which the related
expense was incurred. The benefits and reimbursements pursuant to such provisions are not subject to liquidation or exchange for another benefit and the amount of such benefits and reimbursements that Burns receives in one taxable year shall not
affect the amount of such benefits or reimbursements that Burns receives in any other taxable year. 
 13. Indemnification. Except
with respect to claims resulting from Burns’ willful misconduct or acts outside the scope of his employment hereunder, Burns shall be defended, indemnified and held harmless by Lions Gate (whether during or after the Term) in respect of all
claims arising from or in connection with his position or services as an officer of Lions Gate to the maximum extent permitted in accordance with Lions Gate’s Certificate of Incorporation, its By-Laws and
under applicable law (including, without limitation and as applicable, attorney’s fees), and shall be covered by Lions Gate’s applicable directors and officers insurance policy, which coverage shall be no less favorable than that accorded
any other officer or director of Lions Gate. 
 14. Company Policies. Burns shall abide by the provisions of all policy statements,
including without limitation any conflict of interest policy statement, of Lions Gate or adopted by Lions Gate from time to time during the Term and furnished to Burns in writing or of which he has notice. 

15. Non-Solicitation. Burns shall not, during the Term and for a period of one (1) year
thereafter, directly or indirectly, induce or attempt to induce any employee or contractor of Lions Gate or its affiliates (other than Burns’ exclusive personal assistant), to leave Lions Gate or its affiliates or to render services for any
other person, firm or corporation. 
 16. Property of Lions Gate. Burns acknowledges that the relationship between the parties hereto
is exclusively that of employer and employee and that Lions Gate’s obligations to him are exclusively contractual in nature. Lions Gate and/or its affiliates shall be the sole owner or owners of all interests and proceeds of Burns’
services hereunder, including without 

  
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limitation, all ideas, concepts, formats, suggestions, developments, arrangements, designs, packages, programs, scripts, audio visual materials, promotional materials, photography and other
intellectual properties and creative works which Burns may prepare, create, produce or otherwise develop in connection with and during his employment hereunder, including without limitation, all copyrights and all rights to reproduce, use, authorize
others to use and sell such properties or works at any time or place for any purpose, free and clear of any claims by Burns (or anyone claiming under him) of any kind or character whatsoever (other than Burns’ right to compensation hereunder).
Burns shall have no right in or to such properties or works and shall not use such properties or works for his own benefit or the benefit of any other person. Burns shall, at the reasonable request of Lions Gate, execute such assignments,
certificates, applications, filings, instruments or other documents consistent herewith as Lions Gate may from time to time reasonably deem necessary or desirable to evidence, establish, maintain, perfect, protect, enforce or defend its right, title
and interest in or to such properties or works. Notwithstanding anything to the contrary herein, Burns’ personal rolodex shall remain his personal property during the Term of this Agreement and following its expiration or earlier termination.
Burns’ assignment of rights in this paragraph does not apply to any invention which fully qualifies under Section 2870 of the California Labor Code. 

17. Confidential Information. All memoranda, notes, records and other documents made or compiled by Burns, or made available to him
during his employment with Lions Gate concerning the business or affairs of Lions Gate or its affiliates shall be Lions Gate’s property and shall be delivered to Lions Gate on the termination of this Agreement or at any other time on request
from Lions Gate. Burns shall keep in confidence and shall not use for himself or others, or divulge to others except in the performance of his duties hereunder, any information concerning the business or affairs of Lions Gate or its affiliates which
is not otherwise publicly available and which is obtained by Burns as a result of his employment, including without limitation, trade secrets or processes and information reasonably deemed by Lions Gate to be proprietary in nature, including without
limitation, financial information, programming or plans of Lions Gate or its affiliates, unless disclosure is permitted by Lions Gate or required by law or legal process. 

18. Right to Use Name. During the term, Lions Gate shall have the right to use Burns’ approved biography, name and approved
likeness in connection with its business, including in advertising its products and services, but not for use as a direct or indirect endorsement. 

19. Miscellaneous. 
 (a)
Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of California without regard to principles of conflict of laws. 

(b) Amendments. This Agreement may be amended or modified only by a written instrument executed by each of the parties hereto. 

  
 12 

 (c) Titles and Headings. Section or other headings contained herein are for
convenience of reference only and shall not affect in any way the meaning or interpretation of any of the terms or provisions hereof. 
 (d)
Entire Agreement. This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior agreements, negotiations and understandings of the parties in connection therewith
(including, without limitation, the Prior Agreement, except as expressly provided herein). Notwithstanding the foregoing, except as expressly set forth herein, the terms and conditions of the agreements that evidence equity-based awards granted by
Lions Gate to Burns that are outstanding as of the Effective Date are outside of the scope of the preceding provisions of this Section 19(d) and continue in effect. 

(e) Successors and Assigns. This Agreement is binding upon the parties hereto and their respective successors, assigns, heirs and
personal representatives. Except as specifically provided herein, neither of the parties hereto may assign the rights and duties of this Agreement or any interest therein, by operation of law or otherwise, without the prior written consent of the
other party, except that, without such consent, Lions Gate shall assign this Agreement to, and provide for the assumption thereof by, any successor to all or substantially all of its stock, assets and business by dissolution, merger, consolidation,
transfer of assets or otherwise. 
 (f) Arbitration. In exchange for the benefits of the speedy, economical and impartial dispute
resolution procedure of arbitration, Lions Gate and Burns, with the advice and consent of their selected counsel, choose to forego their right to resolution of their disputes in a court of law by a judge or jury, and instead elect to treat their
disputes, if any, pursuant to the Federal Arbitration Act and/or California Civil Procedure Code §§ 1281, et seq. 

(i) Burns and Lions Gate agree that any and all claims or controversies whatsoever brought by Burns or Lions Gate, arising out of or relating
to this Agreement, Burns’ employment with Lions Gate, or otherwise arising between Burns and Lions Gate, will be settled by final and binding arbitration in accordance with the applicable rules and procedures of Judicial Arbitration and
Mediation Services, Inc. (“JAMS”). This includes all claims whether arising in tort or contract and whether arising under statute or common law. Such claims may include, but are not limited to, those relating to this Agreement,
wrongful termination, retaliation, harassment, or any statutory claims under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Fair Employment and Housing Act, the Age Discrimination in Employment Act, the Americans with
Disabilities Act, or similar Federal or state statutes. In addition, any claims arising out of the public policy of California, any claims of wrongful termination, employment discrimination, retaliation, or harassment of any kind, as well as any
claim related to the termination or non-renewal of this Agreement shall be arbitrated under the terms of this Agreement. The obligation to arbitrate such claims will survive the termination of this Agreement.
Lions Gate shall be responsible for all costs of the arbitration services, including the fees and costs of the arbitrator and court reporter fees, unless Burns wishes to share such costs voluntarily. To the extent permitted by law, the hearing and
all filings and other proceedings shall be treated in a private and confidential manner by the arbitrator and all parties and representatives, and shall not be disclosed except as necessary for any related judicial proceedings. 

  
 13 

 (ii) The arbitration will be conducted before an arbitrator who is a member of JAMS and
mutually selected by the parties from the JAMS Panel. In the event that the parties are unable to mutually agree upon an arbitrator, each party shall select an arbitrator from the JAMS Panel and the two selected arbitrators shall jointly select a
third, and the arbitrators shall jointly preside over the arbitration. The arbitrator(s) will have jurisdiction to determine the arbitrability of any claim. The arbitrator(s) shall have a business office in or be a resident of Los Angeles County,
California. The arbitrator(s) shall have the authority to grant all monetary or equitable relief (including, without limitation, injunctive relief, ancillary costs and fees, and punitive damages) available under state and Federal law. Either party
shall have the right to appeal any adverse rulings or judgments to the JAMS Panel of Retired Appellate Court Justices. Judgment on any award rendered by the arbitrator(s) may be entered and enforced by any court having jurisdiction thereof. 

(iii) Notwithstanding the foregoing, the parties agree to participate in non-binding mediation with a
mutually selected mediator prior to initiation of any arbitration process, except that either party may file any formal arbitration demand as necessary to preserve their legal rights. 

20. Limit on Benefits. 

(a) Notwithstanding anything contained in this Agreement to the contrary, to the extent that the payments and benefits provided under this
Agreement and benefits provided to, or for the benefit of, Burns under any other Lions Gate plan or agreement (such payments or benefits are collectively referred to as the “Payments” for purposes of this Section 20) would be
subject to the excise tax (the “Excise Tax”) imposed under Section 4999 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), the Payments shall be reduced (but not below zero) if and to the
extent that a reduction in the Payments would result in Burns retaining a larger amount, on an after-tax basis (taking into account federal, state and local income taxes and the Excise Tax), than if Burns
received all of the Payments (such reduced amount is referred to hereinafter as the “Limited Benefit Amount”). In such case, the Payments shall be reduced or eliminated by first reducing or eliminating cash severance payments, then
by reducing or eliminating other cash payments, then by reducing or eliminating those payments or benefits which are not payable in cash, in each case in reverse order beginning with payments or benefits which are to be paid the farthest in time
from the Determination (as hereinafter defined). Any notice given by Burns pursuant to the preceding sentence shall take precedence over the provisions of any other plan, arrangement or agreement governing Burns’ rights and entitlements to any
benefits or compensation. 
 (b) A determination as to whether the Payments shall be reduced to the Limited Benefit Amount pursuant to this
Agreement and the amount of such Limited Benefit Amount shall be made by Lions Gate’s independent public accountants or another certified public accounting firm of national reputation designated by Lions Gate (the “Accounting
Firm”) at Lions Gate’s expense. Lions Gate and Burns shall use their reasonable efforts to cause the Accounting Firm to provide its determination (the “Determination”), together with detailed

  
 14 

 
supporting calculations and documentation to Lions Gate and Burns within five (5) days of the date of termination of Burns’ employment, if applicable, or such other time as requested by
Lions Gate or Burns (provided Burns reasonably believes that any of the Payments may be subject to the Excise Tax), and if the Accounting Firm determines that no Excise Tax is payable by Burns with respect to any Payments, Lions Gate and Burns shall
use their reasonable efforts to cause the Accounting Firm to furnish Burns with an opinion reasonably acceptable to Burns that no Excise Tax will be imposed with respect to any such Payments. Unless Burns provides written notice to Lions Gate within
thirty (30) days of the delivery of the Determination to Burns that he disputes such Determination, the Determination shall be binding, final and conclusive upon Lions Gate and Burns. 

21. Severability. Each section, subsection and lesser portion of this Agreement constitutes a separate and distinct undertaking,
covenant and/or provision hereof. In the event that any provision of this Agreement shall finally be determined to be unlawful or unenforceable, such provision shall be deemed to be severed from this Agreement, but every other provision shall remain
in full force and effect. 
 22. Construction. Each party has cooperated in the drafting and preparation of this Agreement. Hence, in
any construction to be made of this Agreement, the same shall not be construed against any party on the basis that the party was the drafter. 

23. Legal Counsel. In entering this Agreement, the parties represent that they have relied upon the advice of their attorneys, who are
attorneys of their own choice, and that the terms of this Agreement have been completely read and explained to them by their attorneys, and that those terms are fully understood and voluntarily accepted by them. 

24. Waiver. No waiver of any breach of any term or provision of this Agreement shall be construed to be, nor shall be, a waiver of any
other breach of this Agreement. No waiver shall be binding unless in writing and signed by the party waiving the breach. 
 25.
Execution. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Photographic and facsimile copies of such signed
counterparts may be used in lieu of the originals for any purpose. 
 26. Notices. All notices to be given pursuant to this Agreement
shall be effected either by mail or personal delivery in writing as follows: 
 Lions Gate: 

Lions Gate Entertainment 
 2700
Colorado Avenue, Suite 200 
 Santa Monica, California 90404 

Attention: General Counsel 

  
 15 

 Burns: 

Michael Burns 
 c/o Lions Gate
Entertainment 
 2700 Colorado Avenue, Suite 200 

Santa Monica, California 90404 

27. Tax Withholding. Notwithstanding anything else herein to the contrary, Lions Gate may withhold (or cause there to be withheld, as
the case may be) from any amounts otherwise due or payable under or pursuant to this Agreement such federal, state and local income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation. 

[Remainder of page intentionally left blank] 

  
 16 

 In witness whereof, the parties hereto have executed this Agreement as of the date first
above written. 
  

			
	 “LIONS GATE”
  

LIONS GATE ENTERTAINMENT CORP.,

 
			
		
	By:	 	/s/ Corii D. Berg

 
			
	Name: Corii D. Berg
	Its: General Counsel
	
	“BURNS”
	
	/s/ Michael Burns
	Michael Burns

  
 17 

 EXHIBIT A 

FORM OF GENERAL RELEASE AGREEMENT 

1. Release by Executive. [____________] (“Executive”), on his own behalf and on behalf of his descendants,
dependents, heirs, executors, administrators, assigns and successors, and each of them, hereby acknowledges full and complete satisfaction of and releases and discharges and covenants not to sue Lions Gate Entertainment Corp. (the
“Company”), its divisions, subsidiaries, parents, or affiliated corporations, past and present, and each of them, as well as its and their assignees, successors, directors, officers, stockholders, partners, representatives,
attorneys, agents or employees, past or present, or any of them (individually and collectively, “Releasees”), from and with respect to any and all claims, agreements, obligations, demands and causes of action, known or unknown,
suspected or unsuspected, arising out of or in any way connected with Executive’s employment or any other relationship with or interest in the Company or the termination thereof, including without limiting the generality of the foregoing, any
claim for severance pay, profit sharing, bonus or similar benefit, pension, retirement, life insurance, health or medical insurance or any other fringe benefit, or disability, or any other claims, agreements, obligations, demands and causes of
action, known or unknown, suspected or unsuspected resulting from any act or omission by or on the part of Releasees committed or omitted prior to the date of this General Release Agreement (this “Agreement”) set forth below,
including, without limiting the generality of the foregoing, any claim under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Family and Medical Leave Act, the California Fair Employment and Housing Act, California
Labor Code Section 132a, the California Family Rights Act, or any other federal, state or local law, regulation, ordinance, constitution or common law (collectively, the “Claims”); provided, however, that the foregoing release
does not apply to any obligation of the Company to Executive pursuant to any of the following: (1) Section 6(b), 10(b) or 10(c), as applicable (and including any related provisions referred to in the applicable section), of the Employment
Agreement dated as of [__________, 2020] by and between the Company and Executive (the “Employment Agreement”); (2) any equity-based awards previously granted by the Company to Executive, to the extent that such awards
continue after the termination of Executive’s employment with the Company in accordance with the applicable terms of such awards; (3) any right to indemnification that Executive may have pursuant to the Company’s bylaws, its corporate
charter or under any written indemnification agreement with the Company (or any corresponding provision of any subsidiary or affiliate of the Company) with respect to any loss, damages or expenses (including but not limited to attorneys’ fees
to the extent otherwise provided) that Executive may in the future incur with respect to his service as an employee, officer or director of the Company or any of its subsidiaries or affiliates; (4) with respect to any rights that Executive may
have to insurance coverage for such losses, damages or expenses under any Company (or subsidiary or affiliate) directors and officers liability insurance policy; (5) any rights to continued medical and dental coverage that Executive may have
under COBRA; (6) any rights to payment of benefits that Executive may have under a retirement plan sponsored or maintained by the Company that is intended to qualify under Section 401(a) of the Internal Revenue Code of 1986, as amended; or
(7) any deferred compensation or supplemental retirement benefits that Executive may be entitled to under a nonqualified deferred compensation or supplemental retirement plan of the Company. In addition, this release does not cover any Claim
that cannot be so released as a 

  
 A-1 

 
matter of applicable law. Notwithstanding anything to the contrary herein, nothing in this Agreement prohibits Executive from filing a charge with or participating in an investigation conducted
by any state or federal government agencies. However, Executive does waive, to the maximum extent permitted by law, the right to receive any monetary or other recovery, should any agency or any other person pursue any claims on Executive’s
behalf arising out of any claim released pursuant to this Agreement. For clarity, and as required by law, such waiver does not prevent Executive from accepting a whistleblower award from the Securities and Exchange Commission pursuant to
Section 21F of the Securities Exchange Act of 1934, as amended. Executive acknowledges and agrees that he has received any and all leave and other benefits that he has been and is entitled to pursuant to the Family and Medical Leave Act of
1993. 
 2. Acknowledgement of Payment of Wages. Except for accrued vacation (which the parties agree totals approximately
[____] days of pay) and salary for the current pay period, Executive acknowledges that he has received all amounts owed for his regular and usual salary (including, but not limited to, any bonus, severance, or other wages), and usual benefits
through the date of this Agreement. 
 3. Waiver of Civil Code Section 1542. This Agreement is intended to be
effective as a general release of and bar to each and every Claim hereinabove specified. Accordingly, Executive hereby expressly waives any rights and benefits conferred by Section 1542 of the California Civil Code and any similar provision of
any other applicable state law as to the Claims. Section 1542 of the California Civil Code provides: 
 “A GENERAL RELEASE DOES NOT
EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR
OR RELEASED PARTY.” 
 Executive acknowledges that he later may discover claims, demands, causes of action or facts in addition to or different from
those which Executive now knows or believes to exist with respect to the subject matter of this Agreement and which, if known or suspected at the time of executing this Agreement, may have materially affected its terms. Nevertheless, Executive
hereby waives, as to the Claims, any claims, demands, and causes of action that might arise as a result of such different or additional claims, demands, causes of action or facts. 

4. ADEA Waiver. Executive expressly acknowledges and agrees that by entering into this Agreement, he is waiving any and all rights or
claims that he may have arising under the Age Discrimination in Employment Act of 1967, as amended (“ADEA”), which have arisen on or before the date of execution of this Agreement. Executive further expressly acknowledges and agrees
that: 
 (i) In return for this Agreement, he will receive consideration beyond that which he was already entitled to receive before
entering into this Agreement; 
 (ii) He is hereby advised in writing by this Agreement to consult with an attorney before signing this
Agreement; 

  
 A-2 

 (iii) He was given a copy of this Agreement on [____________] and informed that he
had twenty-one (21) days within which to consider this Agreement and that if he wished to execute this Agreement prior to expiration of such 21-day period, he
should execute the Acknowledgement and Waiver attached hereto as Exhibit A-1; 

(iv) Nothing in this Agreement prevents or precludes Executive from challenging or seeking a determination in good faith of the validity of
this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs from doing so, unless specifically authorized by federal law; and 

(v) He was informed that he has seven (7) days following the date of execution of this Agreement in which to revoke this Agreement, and
this Agreement will become null and void if Executive elects revocation during that time. Any revocation must be in writing and must be received by the Company during the seven-day revocation period. In the
event that Executive exercises his right of revocation, neither the Company nor Executive will have any obligations under this Agreement. 

5. No Transferred Claims. Executive represents and warrants to the Company that he has not heretofore assigned or transferred to any
person not a party to this Agreement any released matter or any part or portion thereof. 
 6. Miscellaneous. The following
provisions shall apply for purposes of this Agreement: 
 (a) Number and Gender. Where the context requires, the singular shall
include the plural, the plural shall include the singular, and any gender shall include all other genders. 
 (b) Section Headings.
The section headings of, and titles of paragraphs and subparagraphs contained in, this Agreement are for the purpose of convenience only, and they neither form a part of this Agreement nor are they to be used in the construction or interpretation
thereof. 
 (c) Governing Law. This Agreement, and all questions relating to its validity, interpretation, performance and
enforcement, as well as the legal relations hereby created between the parties hereto, shall be governed by and construed under, and interpreted and enforced in accordance with, the laws of the State of California, notwithstanding any California or
other conflict of law provision to the contrary. 
 (d) Severability. If any provision of this Agreement or the application thereof
is held invalid, the invalidity shall not affect other provisions or applications of this Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be
severable. 
 (e) Modifications. This Agreement may not be amended, modified or changed (in whole or in part), except by a formal,
definitive written agreement expressly referring to this Agreement, which agreement is executed by both of the parties hereto. 

  
 A-3 

 (f) Waiver. No waiver of any breach of any term or provision of this Agreement shall
be construed to be, nor shall be, a waiver of any other breach of this Agreement. No waiver shall be binding unless in writing and signed by the party waiving the breach. 

(g) Arbitration. Any controversy arising out of or relating to this Agreement shall be submitted to arbitration in accordance with the
arbitration provisions of the Employment Agreement. 
 (h) Counterparts. This Agreement may be executed in counterparts, and each
counterpart, when executed, shall have the efficacy of a signed original. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose. 

[Remainder of page intentionally left blank] 

  
 A-4 

 The undersigned have read and understand the consequences of this Agreement and voluntarily
sign it. The undersigned declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct. 

EXECUTED this ________ day of ________ 20___, at ______________________ County, __________. 

 

	
	“EXECUTIVE”
	
	   

	[Name]

 EXECUTED this ________ day of ________ 20___, at ______________________ County, __________. 

 

			
	“COMPANY”
	
	Lions Gate Entertainment Corp.
		
	By:	 	 
		 	[Name]
		 	[Title]

  
 A-5 

 EXHIBIT A-1 

ACKNOWLEDGMENT AND WAIVER 

I, _____________, hereby acknowledge that I was given 21 days to consider the foregoing General Release Agreement and voluntarily chose to
sign the General Release Agreement prior to the expiration of the 21-day period. 
 I declare under
penalty of perjury under the laws of the State of California that the foregoing is true and correct. 
 EXECUTED this ___ day of
____________ 20___, at ___________ County, _________. 
  

	
	   

	[Name]

 EXHIBIT A-2 

Hasbro, Inc. (HAS: NASDAQ) 
 Novica.com, UCLA Anderson School
Board of Advisors, International Medical Corp Leadership Counsel and other various private and charitable entities.Exhibit 10.24

 

EMPLOYMENT AGREEMENT

 

This Employment
Agreement (the “Agreement”) is entered into as of the 11th day of December, 2020, by and between
Jonathan Webb (the “Employee”) and AppHarvest, Inc. (the “Company”).

 

Employee is employed
by the Company as its Chief Executive Officer.

 

The Company desires
to continue to employ Employee and, in connection therewith, to compensate Employee for Employee’s personal services to the
Company; and

 

Employee wishes to
continue to be employed by the Company and provide personal services and certain covenants to the Company in return for certain
compensation and benefits.

 

Accordingly, in consideration
of the mutual promises and covenants contained herein, the parties agree to the following:

 

1.            Employment
by the Company.

 

1.1            Contingent
on Transaction. The effective date (“Effective Date”) of
the employment terms in this Agreement shall be contingent upon and concurrent with the “Closing Date”
as defined in that certain Business Combination Agreement and Plan of Reorganization dated September 28, 2020, by and among
the Company, Novus Capital Corporation, and ORGA, Inc. (the “Business Combination Agreement”) and,
contingent on occurrence of the Closing Date, the terms of this Agreement shall supersede and replace the prior offer letter in
effect between Company and Employee as of the Effective Date. If the transactions contemplated by the Business Combination Agreement
do not close, this Agreement shall have no effect and shall terminate as of the termination of the Business Combination Agreement,
and neither the Company nor the Employee shall have obligations hereunder. Capitalized terms used herein and not otherwise defined
shall have the meanings set forth in the Business Combination Agreement.

 

1.2            Position.
Subject to the terms set forth herein, the Company agrees to continue to employ Employee and Employee hereby accepts such continued
employment. In addition, Employee shall continue to serve as Chief Executive Officer. Employee shall also continue to serve as
a Director of the Company’s Board of Directors (the “Board”).

 

1.3            Duties.
Employee will initially report to the Board, performing such duties as are normally associated with Employee’s position and
such duties as are assigned to Employee from time to time, subject to the oversight and direction of the Board or the Board’s
designee. During the term of Employee’s employment with the Company, Employee will devote Employee’s best efforts and
substantially all of Employee’s business time and attention to the business of the Company, except for vacation periods as
set forth herein and reasonable periods of illness or other incapacities permitted by the Company’s general employment policies.
Employee shall perform Employee’s duties under this Agreement principally out of the Company’s Lexington, Kentucky
corporate headquarters, or such other location as assigned. In addition, Employee shall make such business trips to such places
as may be necessary or advisable for the efficient operations of the Company.

 

    1

     

    

 

1.4            Company
Policies and Benefits. The employment relationship between the parties shall also
be subject to the Company’s personnel policies and procedures as they may be interpreted, adopted, revised or deleted from
time to time in the Company’s sole discretion. Employee will be eligible to participate on the same basis as similarly situated
employees in the Company’s benefit plans in effect from time to time during Employee’s employment. All matters of eligibility
for coverage or benefits under any benefit plan shall be determined in accordance with the provisions of the such plan. Employee
will be eligible to accrue eighteen (18) days of paid time off (“PTO”) each calendar year, in accordance
with the terms of the Company’s PTO policy. Employee is also eligible to be considered for future car allowance benefits
provided to similarly situated employees according to the terms of the Company’s then-current policies and procedures. The
Company reserves the right to change, alter, or terminate employee benefits in its sole discretion. Notwithstanding the foregoing,
in the event that the terms of this Agreement differ from or are in conflict with the Company’s general employment policies
or practices, this Agreement shall control.

 

		2.	Compensation.

 

2.1            Salary.
Employee shall receive for Employee’s services to be rendered under this Agreement an initial base salary of $250,000 on
an annualized basis, subject to review and adjustment by the Company in its sole discretion, and payable in accordance with the
Company’s standard payroll practices (“Base Salary”).

 

2.2            Cash
Bonus Upon Closing. Contingent upon the occurrence of the Closing Date and his continued
employment with the Company through such date, Employee shall receive a bonus of $1,500,000, in recognition of his contributions
to the Company (the “Closing Bonus”).  The Closing Bonus, if earned, will be payable within thirty
(30) days following the Closing Date.

 

2.3            RSU
Award. Subject to the approval of the Board or the Compensation Committee of the Board,
the continued employment of Employee with the Company through the date of grant and the effectiveness of a related Form S-8
registration statement, Employee shall be granted a restricted stock unit award with respect to a number of shares of Company common
stock equal to 3% of the number of outstanding shares of Company common stock on the date of grant (the “RSU Award”).
Twenty-five percent (25%) of the RSU Award shall vest in three equal annual installments based on the achievement of goals relating
to operational, social and environmental metrics set by the Board or the Compensation Committee of the Board and approved in connection
with the grant of the RSU Award. The remainder of the RSU Award shall vest in three equal annual installments based on the achievement
of such annual stock price hurdles as the Board or the Compensation Committee of the Board approve in connection with the grant
of the RSU Award. Such price hurdles shall be met only if the relevant price is achieved based on a trading average over the course
of a ninety (90) consecutive day period during the performance year in question. The RSU Award shall be subject to the terms of
the plan and agreement pursuant to which it is granted.

 

2.4            Annual
Discretionary Bonus. Starting January 1, 2024, provided Employee remains
employed with the Company under this Agreement, Employee will be eligible to earn a discretionary annual cash bonus (the
 “Annual Bonus”) in accordance with the terms and conditions of a bonus plan (the “Bonus
Plan”) to be approved by the Board. The Bonus Plan will detail that Employee’s Annual Bonus shall be
determined based on the achievement of Company and individual performance objectives, each to be pre-determined by the
Company in its sole discretion but with input from Employee. The Bonus Plan will also
set forth a target bonus as determined by the Board in its sole discretion (the “Target Bonus”).
Other terms regarding Employee’s eligibility for the Annual Bonus and the payment of such bonus will be as set forth in
the applicable Bonus Plan.

 

    2

     

    

 

2.5            Equity
Awards. Employee will be eligible to receive awards of stock options or other equity
awards pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or the Compensation Committee
of the Board, as applicable, will determine in its sole discretion whether Employee will be granted any such equity awards and
the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time
to time.

 

2.6            Expense
Reimbursement. The Company will reimburse Employee for reasonable business expenses
in accordance with the Company’s standard expense reimbursement policy, as the same may be modified by the Board from time
to time. The Company shall reimburse Employee for all customary and appropriate business-related expenses actually incurred and
documented in accordance with Company policy, as in effect from time to time. For the avoidance of doubt, to the extent that any
reimbursements payable to Employee are subject to the provisions of Section 409A (as defined below): (a) any such reimbursements
will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount
of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the
right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.

 

3.            Confidential
Information, Inventions, Non-Solicitation and Non-Competition Obligations. In
connection with Employee’s continued employment with the Company, Employee will continue to receive and continue to have
access to the Company’s confidential information and trade secrets. Accordingly, and in consideration of the benefits Employee
is eligible to receive under this Agreement, Employee agrees to execute and abide by the Employee Confidential Information, Inventions,
Non-Solicitation and Non-Competition Agreement attached as Exhibit A (“Confidential Information Agreement”),
which may be amended by the parties from time to time without regard to this Agreement. The Confidential Information Agreement
contains provisions that are intended by the parties to survive and do survive termination of this Agreement.

 

4.            Outside
Activities During Employment. Except with the prior written consent of the Company,
Employee will not, while employed by the Company, undertake or engage in any other employment, occupation or business enterprise
that would materially interfere with Employee’s responsibilities and the performance of Employee’s duties hereunder,
except for (i) reasonable time devoted to volunteer services for or on behalf of such religious, educational, non-profit and/or
other charitable organization as Employee may wish to serve, (ii) reasonable time devoted to activities in the non-profit
and business communities consistent with Employee’s duties, (iii) such other activities as may be specifically approved
in writing by the Company. This restriction shall not, however, preclude Employee (i) from owning less than one percent (1%)
of the total outstanding shares of a publicly traded company, or (ii) from employment or service in any capacity with Affiliates
of the Company. As used in this Agreement, “Affiliates” means an entity under common management or control
with the Company.

 

    3

     

    

 

5.            No
Conflict with Existing Obligations. Employee represents that Employee’s performance
of all the terms of this Agreement and continued service as an Employee of the Company do not and will not breach any agreement
or obligation of any kind made prior to Employee’s employment by the Company, including agreements or obligations Employee
may have with prior employers or entities for which Employee has provided services. Employee has not entered into, and Employee
agrees that Employee will not enter into, any agreement or obligation, either written or oral, in conflict herewith.

  

6.            Termination
Of Employment. The parties acknowledge
that Employee’s employment relationship with the Company continues to be at-will. Either Employee or the Company may terminate
the employment relationship for any reason whatsoever at any time, with or without cause or advance notice. The provisions in this
Section govern the amount of compensation, if any, to be provided to Employee upon termination of employment and do not alter
this at-will status.

 

6.1            Termination
by the Company without Cause or Resignation by Employee for Good Reason.

 

(a)            The
Company shall have the right to terminate Employee’s employment with the Company pursuant to this Section 6.1 at any
time without “Cause” (as defined below) by giving notice as described in Section 7.1 of this Agreement. A termination
pursuant to Sections 6.4 or 6.5 below is not a termination without Cause for purposes of receiving the benefits described in this
Section 6.1.

 

(b)            If
the Company terminates Employee’s employment at any time without Cause (excluding by reason of Employee’s death or
Disability) or Employee resigns for “Good Reason” (as defined below) and provided that such termination constitutes
a “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h), without regard to any alternative
definition thereunder, a “Separation from Service”), then Employee shall be entitled to receive the Accrued
Obligations (as defined below) and, subject to Employee’s compliance with the conditions and obligations in Section 6.1(c) below,
Employee shall be eligible to receive the following severance benefits (the “Severance Benefits”):

 

(i)            The
Company will pay Employee an amount equal to Employee’s then current Base Salary for six (6) months, and paid in equal
installments beginning on the Company’s first regularly scheduled payroll date following the Release Effective Date (as defined
below), with the remaining installments occurring on the Company’s regularly scheduled payroll dates thereafter.

 

(ii)            If
Employee timely elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended
(“COBRA”), for Employee and Employee’s dependents under the Company’s group health
plans following such termination, then the Company shall pay the COBRA premiums necessary to continue Employee’s and
his covered dependents’ health insurance coverage in effect for Employee (and Employee’s covered dependents) on
the termination date until the earliest of: (i) six (6) months following the termination date; (ii) the date
when Employee becomes eligible for substantially equivalent health insurance coverage in connection with new employment or
self-employment; or (iii) the date Employee ceases to be eligible for COBRA continuation coverage for any reason,
including plan termination (such period from the termination date through the earlier of (i)-(iii), (the
 “COBRA Payment Period”). Notwithstanding the foregoing, if at any time the Company determines that
its payment of COBRA premiums on Employee’s behalf would result in a violation of applicable law (including, but not
limited to, the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education
Reconciliation Act), then in lieu of paying COBRA premiums pursuant to this Section, the Company shall pay Employee on the
last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premium for
such month, for the remainder of the COBRA Payment Period. Nothing in this Agreement shall deprive Employee of his rights
under COBRA or ERISA for benefits under plans and policies arising under his employment by the Company.

 

    4

     

    

 

(iii)            If
Employee’s Separation from Service occurs after January 1, 2024, when Employee is eligible for an Annual Bonus, then
as an additional Severance Benefit, the Company shall also pay Employee an amount equal to a pro rata portion of the Target Bonus
based upon the number of days worked during the bonus period for the calendar year in which Employee’s termination occurs,
and payable at the time that such bonuses are normally paid to other employees of the Company, but in no event later than March 15
of the year following the year in which Employee’s termination occurred.

 

(iv)            Each
unvested equity award (excluding any equity award subject to the achievement of any performance-based or other similar vesting
criteria) then held by Employee will immediately accelerate vesting and, to the extent applicable, exercisability, as to the number
of shares that would have become vested had Employee remained employed by the Company through the date that is six (6) months
following the termination date.

 

(c)            Employee
will be paid all of the Accrued Obligations on the Company’s first payroll date after Employee’s date of termination
from employment or earlier if required by law. If eligible to receive the Severance Benefits pursuant to Section 6.1(b) of
this Agreement, Employee will only receive such Severance Benefits if: (i) within the time period provided in the separation
agreement (which shall be no longer than 60 days following the date of Employee’s Separation from Service), Employee has
signed and delivered to the Company a separation agreement that includes, among other terms, an effective general release of claims
in favor of the Company and its affiliates and representatives, substantially in the form attached hereto as Exhibit B
(the “Release”), which cannot be revoked in whole or part by such date (the date that the Release can
no longer be revoked is referred to as the “Release Effective Date”); and (ii) if Employee holds
any other positions with the Company, he resigns such position(s) to be effective no later than the date of Employee’s
termination date (or such other date as requested by the Board); (iii) Employee returns all Company property; (iv) Employee
complies with his post-termination obligations under this Agreement and the Confidential Information Agreement; and (v) Employee
complies with the terms of the Release, including, without limitation, any non-disparagement, confidentiality and cooperation provisions
contained in Release.

 

(d)            For
purposes of this Agreement, “Accrued Obligations” are (i) Employee’s accrued but unpaid salary
through the date of termination, (ii) any unreimbursed business expenses incurred by Employee payable in accordance with the
Company’s standard expense reimbursement policies, and (iii) benefits owed to Employee under any qualified retirement
plan or health and welfare benefit plan in which Employee was a participant in accordance with applicable law and the provisions
of such plan.

 

    5

     

    

 

(e)            The
Severance Benefits provided to Employee pursuant to this Section 6.1 are in lieu of, and not in addition to, any benefits
to which Employee may otherwise be entitled under any Company severance plan, policy or program.

 

(f)            Any
damages caused by the termination of Employee’s employment without Cause would be difficult to ascertain; therefore, the
Severance Benefits for which Employee is eligible pursuant to Section 6.1(b) above in exchange for the Release is agreed
to by the parties as liquidated damages, to serve as full compensation, and not a penalty.

 

(g)            “Good
Reason” for purposes of this Agreement shall mean the occurrence of any of the following conditions without Employee’s
consent, after Employee’s provision of written notice to the Company of the existence of such condition (which notice must
be provided as described in Section 7.1 within thirty (30) days of the initial existence of the condition and must specify
the particular condition in reasonable detail), provided that the Company has not first provided notice to Employee of its intent
to terminate Employee’s employment: (i) a material reduction in Employee’s title, duties, responsibilities or
authorities; (ii) a reduction by the Company of Employee’s Base Salary (except in the case of either an across the board
reduction in salaries of all similarly situated employees or a temporary reduction due to financial exigency not to exceed 10%);
or (iii) the relocation of Employee’s principal place of employment by thirty-five (35) or more miles from Employee’s
then-current principal place of employment. Notwithstanding the foregoing, Good Reason shall only exist if the Company is provided
a thirty (30) day period to cure the event or condition giving rise to Good Reason, and it fails to do so within that cure period
(and, additionally, Employee must resign for such Good Reason condition by giving notice as described in Section 7.1 within
thirty (30) days after the period for curing the violation or condition has ended). To the extent Employee’s principal place
of employment is not the Company’s corporate offices due to a shelter-in-place order, quarantine order, or similar
work-from-home requirement that applies to Employee, Employee’s principal place of employment, from which a change
in location under the foregoing clause (iii) will be measured, will be considered the Company’s office location where
Employee’s employment with the Company primarily was based immediately prior to the commencement of such shelter-in-place
order, quarantine order, or similar work-from-home requirement.

 

6.2            Termination
by the Company for Cause.

 

(a)            The
Company shall have the right to terminate Employee’s employment with the Company at any time for Cause by giving notice as
described in Section 7.1 of this Agreement.

 

(b)            “Cause”
for purposes of this Agreement shall mean that the Company has determined in its sole discretion that Employee has engaged in
any of the following: (i) a material breach of any covenant or condition under this Agreement or any other agreement
between the Company and Employee, which material breach, if deemed curable by the Board in its reasonable discretion, is not
cured within ten (10) days of written notice by the Company; (ii) any act constituting dishonesty, fraud, immoral
or disreputable conduct that could cause or has caused material damage to the Company’s property, business or
reputation; (iii) any conduct which constitutes a felony under applicable law; (iv) material violation of any
written Company policy, which material violation, if deemed curable by the Board in its reasonable discretion, is not
cured within ten (10) days of written notice by the Company or any act of willful material
misconduct; (v) repeated refusal to follow or implement a clear and reasonable directive of the Company after the
expiration of ten (10) days without cure after written notice of such failure; (vi) gross negligence in the
performance of Employee’s duties or responsibilities that is reasonably likely to result in or results in material harm
to the Company; or (vii) breach of fiduciary duty.

 

    6

     

    

 

(c)            In
the event Employee’s employment is terminated at any time for Cause, Employee will not receive Severance Benefits, or any
other compensation or benefits, except that, pursuant to the Company’s standard payroll policies, the Company shall provide
to Employee the Accrued Obligations.

 

 

6.3            Resignation
by Employee (other than for Good Reason).

 

(a)            Employee
may resign from Employee’s employment with the Company at any time by giving notice as described in Section 7.1.

 

(b)            In
the event Employee resigns from Employee’s employment with the Company (other than for Good Reason), Employee will not receive
Severance Benefits, or any other compensation or benefits, except that, pursuant to the Company’s standard payroll policies,
the Company shall provide to Employee the Accrued Obligations.

 

6.4            Termination
by Virtue of Death or Disability of Employee.

 

(a)            In
the event of Employee’s death while employed pursuant to this Agreement, all obligations of the parties hereunder shall terminate
immediately, and Employee will not receive the Severance Benefits, or any other severance compensation or benefit, except that,
pursuant to the Company’s standard payroll policies, the Company shall provide to Employee’s legal representatives
all Accrued Obligations.

 

(b)            Subject
to applicable state and federal law, the Company shall at all times have the right, upon written notice to Employee, to terminate
this Agreement based on Employee’s Disability. Termination by the Company of Employee’s employment based on “Disability”
shall mean termination because Employee is unable due to a physical or mental condition to perform the essential functions of Employee’s
position with or without reasonable accommodation for six (6) months in the aggregate during any twelve (12) month period
or based on the written certification by two licensed physicians of the likely continuation of such condition for such period.
This definition shall be interpreted and applied consistent with the Americans with Disabilities Act, the Family and Medical Leave
Act, and other applicable law. In the event Employee’s employment is terminated based on Employee’s Disability, Employee
will not receive the Severance Benefits, or any other severance compensation or benefit, except that, pursuant to the Company’s
standard payroll policies, the Company shall provide to Employee the Accrued Obligations.

 

    7

     

    

 

6.5            Tax
Withholding; Application of Section 409A. All payments and benefits under
this Agreement are subject to applicable withholdings and deductions. It is intended that all of the severance payments
payable under this Agreement satisfy, to the greatest extent possible, the exemptions from the application of
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and
the regulations and other guidance thereunder and any state law of similar effect (collectively,
 “Section 409A”) provided under Treasury Regulations Sections 1.409A-1(b)(4) and
1.409A-1(b)(9), and this Agreement will be construed in a manner that complies with Section 409A. If not so exempt, this
Agreement (and any definitions hereunder) will be construed in a manner that complies with Section 409A, and
incorporates by reference all required definitions and payment terms. No severance payments will be made under this Agreement
unless Employee’s termination of employment constitutes a “separation from service” (as defined under
Treasury Regulation Section 1.409A-1(h)). For purposes of Section 409A (including, without limitation, for purposes
of Treasury Regulations Section 1.409A-2(b)(2)(iii)), Employee’s right to receive any installment payments under
this Agreement (whether severance payments or otherwise) shall be treated as a right to receive a series of separate payments
and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment.
Notwithstanding anything to the contrary in this Agreement, to the extent that any severance payments are deferred
compensation under Section 409A, and are not otherwise exempt from the application of Section 409A, then, if the
period during which Employee may consider and sign the Release spans two calendar years, such severance payments will not
begin until the second calendar year. If the Company determines that the severance benefits provided under this Agreement
constitutes “deferred compensation” under Section 409A and if Employee is a “specified employee”
of the Company, as such term is defined in Section 409A(a)(2)(B)(i) of the Code at the time of Employee’s
Separation from Service, then, solely to the extent necessary to avoid the incurrence of the adverse personal tax
consequences under Section 409A, the timing of the Severance will be delayed as follows: on the earlier to occur of
(a) the date that is six months and one day after Employee’s Separation from Service, and (b) the date of
Employee’s death (such earlier date, the “Delayed Initial Payment Date”), the Company will
(i) pay to Employee a lump sum amount equal to the sum of the severance benefits that Employee would otherwise have
received through the Delayed Initial Payment Date if the commencement of the payment of the severance benefits had not been
delayed pursuant to this Section 6.5 and (ii) commence paying the balance of the severance benefits in accordance
with the applicable payment schedule set forth in Section 6.1. No interest shall be due on any amounts deferred pursuant
to this Section 6.5.

 

6.6            Notice;
Effective Date of Termination.

 

(a)            Termination
of Employee’s employment pursuant to this Agreement shall be effective on the earliest of:

 

(i)            immediately
after the Company gives notice to Employee of Employee’s termination, with or without Cause, unless pursuant to Section 6.2(b)(i),
(iv), or (v) in which case ten (10) days after notice if not cured (if deemed curable by the Board in its reasonable
discretion) or unless the Company specifies a later date, in which case, termination shall be effective as of such later date;

 

(ii)            immediately
upon Employee’s death;

 

(iii)            ten
(10) days after the Company gives notice to Employee of Employee’s termination on account of Employee’s Disability,
unless the Company specifies a later date, in which case, termination shall be effective as of such later date, provided
that Employee has not returned to the full time performance of Employee’s duties prior to such date;

 

    8

     

    

 

(iv)            ten
(10) days after Employee gives written notice to the Company of Employee’s resignation, provided that the Company
may set a termination date at any time between the date of notice and the date of resignation, in which case Employee’s resignation
shall be effective as of such other date. Employee will receive compensation through any required notice period; or

 

(v)            for
a termination for Good Reason, immediately upon Employee’s full satisfaction of the requirements of Section 6.1(g).

 

(b)            In
the event notice of a termination under subsections (a)(i) and (iii) is given orally, at the other party’s request,
the party giving notice must provide written confirmation of such notice within five (5) business days of the request in compliance
with the requirement of Section 7.1 below. In the event of a termination for Cause, written confirmation shall specify the
subsection(s) of the definition of Cause relied on to support the decision to terminate.

  

6.7            Cooperation
With Company After Termination of Employment. Following termination of Employee’s
employment for any reason, Employee shall fully cooperate with the Company in all matters relating to the winding up of Employee’s
pending work including, but not limited to, any litigation in which the Company is involved, and the orderly transfer of any such
pending work to such other employees as may be designated by the Company. The Company will reimburse Employee for reasonable out-of-pocket
expenses Employee incurs in connection with any such cooperation (excluding forgone wages, salary, or other compensation) and will
make reasonable efforts to accommodate Employee’s scheduling needs.

 

7.            General
Provisions.

 

7.1            Notices.
Any notices required hereunder to be in writing shall be deemed effectively given: (a) upon personal delivery to the party
to be notified, (b) when sent by electronic mail or confirmed facsimile if sent during normal business hours of the recipient,
and if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail,
return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at its primary
office location and to Employee at Employee’s address as listed on the Company payroll or to Employee’s Company-issued
email address or Employee’s email address as listed in Company records, or at such other address as the Company or Employee
may designate by ten (10) days advance written notice to the other.

 

7.2            Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable
law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any
other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal
or unenforceable provisions had never been contained herein.

 

7.3            Survival.
Provisions of this Agreement which by their terms must survive the termination of this Agreement in order to effectuate the intent
of the parties will survive any such termination, whether by expiration of the term, termination of Employee’s employment,
or otherwise, for such period as may be appropriate under the circumstances.

 

    9

     

    

 

7.4            Waiver.
If either party should waive any breach of any provisions of this Agreement, it shall not thereby be deemed to have waived any
preceding or succeeding breach of the same or any other provision of this Agreement.

 

7.5            Complete
Agreement. This Agreement (including Exhibits A and B) constitutes the entire agreement
between Employee and the Company with regard to the subject matter hereof. This Agreement is the complete, final, and exclusive
embodiment of their agreement with regard to this subject matter and supersedes any prior oral discussions or written communications
and agreements. This Agreement is entered into without reliance on any promise or representation other than those expressly contained
herein, and it cannot be modified or amended except in writing signed by Employee and an authorized officer of the Company. The
parties have entered into a separate Confidential Information Agreement and have or may enter into separate agreements related
to equity. These separate agreements govern other aspects of the relationship between the parties, have or may have provisions
that survive termination of Employee’s employment under this Agreement, may be amended or superseded by the parties without
regard to this Agreement and are enforceable according to their terms without regard to the enforcement provision of this Agreement.

 

7.6            Counterparts.
This Agreement may be executed in separate counterparts, any one of which need not contain signatures of more than one party, but
all of which taken together will constitute one and the same Agreement.

 

7.7            Headings.
The headings of the sections hereof are inserted for convenience only and shall not be deemed to constitute a part hereof nor to
affect the meaning thereof.

 

7.8            Successors
and Assigns. The Company shall assign this Agreement and its rights and obligations
hereunder in whole, but not in part, to any Company or other entity with or into which the Company may hereafter merge or consolidate
or to which the Company may transfer all or substantially all of its assets, if in any such case said Company or other entity shall
by operation of law or expressly in writing assume all obligations of the Company hereunder as fully as if it had been originally
made a party hereto, but may not otherwise assign this Agreement or its rights and obligations hereunder. The Employee may not
assign or transfer this Agreement or any rights or obligations hereunder, other than to the Employee’s estate upon Employee’s
death.

 

7.9            Choice
of Law. All questions concerning the construction, validity and interpretation of
this Agreement will be governed by the laws of the State of Kentucky.

 

    10

     

    

 

7.10            Resolution
of Disputes. The parties recognize that litigation in federal or state courts or
before federal or state administrative agencies of disputes arising out of the Employee’s employment with the Company
or out of this Agreement, or the Employee’s termination of employment or termination of this Agreement, may not be in
the best interests of either the Employee or the Company, and may result in unnecessary costs, delays, complexities, and
uncertainty. The parties agree that any dispute between the parties arising out of or relating to the negotiation, execution,
performance or termination of this Agreement or the Employee’s employment, including, but not limited to, any claim
arising out of this Agreement, claims under Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of
1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, Section 1981 of the
Civil Rights Act of 1966, as amended, the Family Medical Leave Act, the Employee Retirement Income Security Act, and any
similar federal, state or local law, statute, regulation, or any common law doctrine, whether that dispute arises during or
after employment, shall be settled by binding arbitration in accordance with the American Arbitration Association’s
Employment Arbitration Rules and Mediation Procedures; provided however, that this dispute resolution provision
shall not apply to any separate agreements between the parties that do not themselves specify arbitration as an exclusive
remedy. The location for the arbitration shall be the Lexington, Kentucky area. Any award made by such panel shall be final,
binding and conclusive on the parties for all purposes, and judgment upon the award rendered by the arbitrators may be
entered in any court having jurisdiction thereof. The arbitrators’ fees and expenses and all administrative fees and
expenses associated with the filing of the arbitration shall be borne by the Company; provided however, that at the
Employee’s option, Employee may voluntarily pay up to one-half the costs and fees. The parties acknowledge and agree
that their obligations to arbitrate under this Section survive the termination of this Agreement and continue after the
termination of the employment relationship between Employee and the Company. The parties each further agree that the
arbitration provisions of this Agreement shall provide each party with its exclusive remedy, and each party expressly
waives any right it might have to seek redress in any other forum, except as otherwise expressly provided in this Agreement.
By election arbitration as the means for final settlement of all claims, the parties hereby waive their respective rights
to, and agree not to, sue each other in any action in a Federal, State or local court with respect to such claims, but may
seek to enforce in court an arbitration award rendered pursuant to this Agreement. The parties specifically agree to waive
their respective rights to a trial by jury, and further agree that no demand, request or motion will be made for trial by
jury.

 

In
Witness Whereof, the parties have executed this Employment Agreement on the day and year first written above.

 

SIGNATURE PAGE FOLLOWS

 

    11

     

    

	 	 
	 	Signature Page to Employment Agreement
	 	 
	 	AppHarvest, Inc.
	 	 
	 	By:	/s/ Loren Eggleton
	 	 	Loren Eggleton
	 	 	Chief Financial Officer
	 	 
	 	Employee:
	 	 
	 	/s/
    Jonathan Webb 
	 	Jonathan Webb

 

    12

     

    

 

 

Exhibit A

 

CONFIDENTIAL INFORMATION, INVENTIONS,
NON-SOLICITATION

AND NON-COMPETITION AGREEMENT

 

     

     

    

 

Exhibit B

 

RELEASE AGREEMENT

 

This Release Agreement (“Release”)
is made by and between AppHarvest, Inc. (the “Company”) and Jonathan Webb (“you”).
You and the Company entered into an Employment Agreement dated December __,
2020 (the “Employment Agreement”). Capitalized terms not defined in this Release carry the definition
found in the Employment Agreement. You and the Company hereby further agree as follows:

 

1.            A
blank copy of this Release was attached to the Employment Agreement as Exhibit B.

 

2.            Severance
Payments; Other Payments.

 

a.            If
your employment was terminated by the Company without Cause or by you for Good Reason (each as defined in the Employment Agreement)
in accordance with Section 6.1 of the Employment Agreement, then in consideration for your execution and return of this Release
within the timeframe provided by the Company (which will be on or after your last day of employment) (the “Separation
Date”), and your allowing this Release to become fully effective, the Company will provide you with the Severance
Benefits described in Section 6.1(b) of the Employment Agreement (the “Severance Benefits”).

 

b.            In
addition, regardless of whether you sign this Release, the Company affirms it will provide you with the Accrued Obligations (as
described in the Employment Agreement).

 

3.            Compliance
with Section 409A; Withholding. The Severance Benefits offered to you by the Company
are payable in reliance on Treasury Regulation Section 1.409A-1(b)(9) and the short term deferral exemption in Treasury
Regulation Section 1.409A-1(b)(4). For purposes of Code Section 409A, your right to receive any installment payments
(whether pay in lieu of notice, Severance Benefits, reimbursements or otherwise) shall be treated as a right to receive a series
of separate payments and, accordingly, each installment payment shall at all times be considered a separate and distinct payment.
All payments and benefits are subject to applicable withholdings and deductions.

 

4.            Release. In
exchange for the Severance Benefits and other consideration, to which you would not otherwise be entitled, and except as
otherwise set forth in this Release, you, on behalf of yourself and, to the extent permitted by law, on behalf of your
spouse, heirs, executors, administrators, assigns, insurers, attorneys and other persons or entities, acting or purporting to
act on your behalf (collectively, the “Employee Parties”), hereby generally and completely release,
acquit and forever discharge the Company, its parents and subsidiaries, and its and their officers, directors, managers,
partners, agents, representatives, employees, attorneys, shareholders, predecessors, successors, assigns, insurers and
affiliates (the “Company Parties”) of and from any and all claims, liabilities, demands,
contentions, actions, causes of action, suits, costs, expenses, attorneys’ fees, damages, indemnities, debts,
judgments, levies, executions and obligations of every kind and nature, in law, equity, or otherwise, both known and unknown,
suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to agreements, events, acts or
conduct at any time prior to and including the execution date of this Release, including but not limited to: all such claims
and demands directly or indirectly arising out of or in any way connected with your employment with the Company or the
termination of that employment; claims or demands related to salary, bonuses, commissions, stock, stock options, or any other
ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form
of compensation; claims pursuant to any federal, state or local law, statute, or cause of action; tort law; or
contract law (individually a “Claim” and collectively “Claims”). The
Claims you are releasing and waiving in this Release include, but are not limited to, any and all Claims that any of the
Company Parties:

 

     

     

    

 

		·	has violated its personnel policies, handbooks, contracts of employment, or covenants of good faith and fair dealing;

 

		·	has discriminated against you on the basis of age, race, color, sex
(including sexual harassment), national origin, ancestry, disability, religion, sexual orientation, marital status, parental status,
source of income, entitlement to benefits, any union activities or other protected category in violation of any local, state or
federal law, constitution, ordinance, or regulation, including but not limited to: [the Age Discrimination in Employment Act,
as amended (“ADEA”);] Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991;
42 U.S.C. § 1981, as amended; the Equal Pay Act; the Americans With Disabilities Act; the Genetic Information Nondiscrimination
Act; the Family and Medical Leave Act; the Kentucky Civil Rights Act; the Kentucky Equal Pay Act; the Kentucky Equal Opportunities
Act; the Kentucky Wages and Hours Act; Kentucky Human Rights Commission Regulations; the Employee Retirement Income Security Act;
the Employee Polygraph Protection Act; the Worker Adjustment and Retraining Notification Act; the Older Workers Benefit Protection
Act; the anti-retaliation provisions of the Sarbanes-Oxley Act, or any other federal or state law regarding whistleblower retaliation;
the Lilly Ledbetter Fair Pay Act; the Uniformed Services Employment and Reemployment Rights Act; the Fair Credit Reporting Act;
and the National Labor Relations Act;

 

		·	has violated any statute, public policy or common law (including but not limited to Claims for retaliatory discharge; negligent
hiring, retention or supervision; defamation; intentional or negligent infliction of emotional distress and/or mental anguish;
intentional interference with contract; negligence; detrimental reliance; loss of consortium to you or any member of your family
and/or promissory estoppel).

 

Notwithstanding
the foregoing, other than events expressly contemplated by this Release you do not waive or release rights or Claims that may
arise from events that occur after the date this waiver is executed and you are not releasing any right of
indemnification you may have for any liabilities arising from your actions within the course and scope of your employment
with the Company or within the course and scope of your role as a member of the Board of Directors and/or officer of the
Company. Also excluded from this Release are any Claims which cannot be waived by law, including, without limitation, any
rights you may have under applicable workers’ compensation laws and your right, if applicable, to file or participate
in an investigative proceeding of any federal, state or local governmental agency. Nothing in this Release shall prevent you
from filing, cooperating with, or participating in any proceeding or investigation before the Equal Employment Opportunity
Commission, United States Department of Labor, the National Labor Relations Board, the Occupational Safety and Health
Administration, the Securities and Exchange Commission or any other federal government agency, or similar state or local
agency (“Government Agencies”), or exercising any rights pursuant to Section 7 of the National
Labor Relations Act. You further understand this Release does not limit your ability to voluntarily communicate with any
Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government
Agency, including providing documents or other information, without notice to the Company. While this Release does not limit
your right to receive an award for information provided to the Securities and Exchange Commission, you understand and agree
that, you are otherwise waiving, to the fullest extent permitted by law, any and all rights you may have to individual relief
based on any Claims that you have released and any rights you have waived by signing this Release. If any Claim is not
subject to release, to the extent permitted by law, you waive any right or ability to be a class or collective action
representative or to otherwise participate in any putative or certified class, collective or multi-party action or proceeding
based on such a Claim in which any of the Company Parties is a party. This Release does not abrogate your existing rights
under any Company benefit plan or any plan or agreement related to equity ownership in the Company; however, it does waive,
release and forever discharge Claims existing as of the date you execute this Release pursuant to any such plan or
agreement.

 

     

     

    

 

5.            Your
Acknowledgments and Affirmations. You acknowledge and agree that (i) the consideration
given to you in exchange for the waiver and release in this Release is in addition to anything of value to which you were already
entitled; and (ii) that you have been paid for all time worked, have received all the leave, leaves of absence and leave benefits
and protections for which you are eligible, and have not suffered any on-the-job injury for which you have not already filed a
Claim. You affirm that all of the decisions of the Company Parties regarding your pay and benefits through the date of your execution
of this Release were not discriminatory based on age, disability, race, color, sex, religion, national origin or any other classification
protected by law. You affirm that you have not filed or caused to be filed, and are not presently a party to, a Claim against any
of the Company Parties. You further affirm that you have no known workplace injuries or occupational diseases. You acknowledge
and affirm that you have not been retaliated against for reporting any allegation of corporate fraud or other wrongdoing by any
of the Company Parties, or for exercising any rights protected by law, including any rights protected by the Fair Labor Standards
Act, the Family Medical Leave Act or any related statute or local leave or disability accommodation laws, or any applicable state
workers’ compensation law.

 

[IF
YOU ARE 40 YEARS OR OLDER: In addition, you acknowledge that you are knowingly and voluntarily waiving and releasing any
rights you may have under the ADEA (“ADEA Waiver”). You also acknowledge that the consideration given
for the ADEA Waiver is in addition to anything of value to which you were already entitled. You further acknowledge that you have
been advised by this writing, as required by the ADEA, that: (a) your release and waiver herein does not apply to any rights
or claims that may arise after the date you sign this Release; (b) you should consult with an attorney prior to signing this
Release; (c) you have [twenty-one (21)/forty-five (45)] days to consider this Release (although you may choose to voluntarily
sign it sooner); (d) you have seven (7) days following the date you sign this Release to revoke the Release; and (e) the
Release will not be effective until the date upon which the revocation period has expired unexercised, which will be the eighth
(8th) day after you sign this Release.]

 

6.            Return
of Company Property. By the Separation Date, you agree to return to the Company all Company
documents (and all copies thereof) and other Company property that you have had in your possession at any time, including, but
not limited to, Company files, notes, drawings, records, business plans and forecasts, financial information, specifications, computer-recorded
information, tangible property (including, but not limited to, computers), credit cards, entry cards, identification badges and
keys; and, any materials of any kind that contain or embody any proprietary or confidential information of the Company (and all
reproductions thereof). Please coordinate return of Company property with [____________]. Receipt of the Severance Benefits
is expressly conditioned upon return of all Company property.

 

7.            Confidentiality. The
provisions of this Release will be held in strictest confidence by you and will not be publicized or disclosed in any manner
whatsoever; provided, however, that: (a) you may disclose this Release in confidence to your immediate family;
(b) you may disclose this Release in confidence to your attorney, accountant, auditor, tax preparer, and financial
advisor; and (c) you may disclose this Release insofar as such disclosure may be required by law. Notwithstanding the
foregoing, nothing in this Release shall limit your right to voluntarily communicate with the Equal Employment Opportunity
Commission, United States Department of Labor, the National Labor Relations Board, the Securities and Exchange
Commission, other federal government agency or similar state or local agency or to discuss the terms and conditions of your
employment with others to the extent expressly permitted by Section 7 of the National Labor Relations Act.

 

     

     

    

 

8.            Confidential
Information, Inventions, Non-Competition and Non-Solicitation Obligations. Both during
and after your employment you acknowledge your continuing obligations under your Employee Confidential Information, Inventions,
Non-Solicitation and Non-Competition Agreement (“Employee Confidential Information Agreement”) not to
use or disclose any confidential or proprietary information of the Company and to refrain from certain solicitation and competitive
activities. Confidential information that is also a “trade secret,” as defined by law, may be disclosed if it (A) is
made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney
and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint
or other document filed in a lawsuit or other proceeding, if such filing is made under seal. In addition, in the event that you
file a lawsuit for retaliation by the Company for reporting a suspected violation of law, you may disclose the trade secret to
your attorney and use the trade secret information in the court proceeding, if you: (A) file any document containing the trade
secret under seal; and (B) do not disclose the trade secret, except pursuant to court order.

 

9.            Non-Disparagement.
You agree not to disparage the Company, and the Company’s attorneys, directors, managers, partners, employees, agents and
affiliates, in any manner likely to be harmful to them or their business, business reputation or personal reputation; provided
that you may respond accurately and fully to any question, inquiry or request for information when required by legal process. Notwithstanding
the foregoing, nothing in this Release shall limit your right to voluntarily communicate with the Equal Employment Opportunity
Commission, United States Department of Labor, the National Labor Relations Board, the Securities and Exchange Commission, other
federal government agency or similar state or local agency or to discuss the terms and conditions of your employment with others
to the extent expressly permitted by Section 7 of the National Labor Relations Act.

 

10.            Cooperation.
You agree to cooperate fully with the Company in all matters relating to the transition of your work and responsibilities on behalf
of the Company, including, but not limited to, any litigation in which the Company is involved, any present, prior or subsequent
relationships, and the orderly transfer of any such work and institutional knowledge to such other persons as may be designated
by the Company, by making yourself reasonably available during regular business hours.

 

11.            No
Admission. This Release does not constitute an admission by you or by the Company of any
wrongful action or violation of any federal, state, or local statute, or common law rights, including those relating to the provisions
of any law or statute concerning employment actions, or of any other possible or claimed violation of law or rights.

 

12.            Breach.
You agree that upon any material breach of this Release you will forfeit all amounts paid or owing to you under this Release. Further,
you acknowledge that it may be impossible to assess the damages caused by your material violation of the terms of Sections 6, 7,
8, and 9 of this Release and further agree that any threatened or actual material violation or breach of those paragraphs of this
Release will constitute immediate and irreparable injury to the Company. You therefore agree that any such breach of this Release
is a material breach of this Release, and, in addition to any and all other damages and remedies available to the Company upon
your breach of this Release, the Company shall be entitled to an injunction to prevent you from violating or breaching this Release.

 

     

     

    

 

13.            Miscellaneous. This
Release, together with your Employee Confidential Information Agreement, constitute the complete, final and exclusive
embodiment of the entire agreement between you and the Company with regard to this subject matter. It is entered into without
reliance on any promise or representation, written or oral, other than those expressly contained herein, and it
supersedes any other such promises, warranties or representations. This Release may not be modified or amended except in a
writing signed by both you and a duly authorized officer of the Company. This Release will bind the heirs, personal
representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company,
their heirs, successors and assigns. If any provision of this Release is determined to be invalid or unenforceable, in whole
or in part, this determination will not affect any other provision of this Release and the provision in question will be
modified by the court so as to be rendered enforceable. This Release will be deemed to have been entered into and will be
construed and enforced in accordance with the laws of the State of Kentucky as applied to contracts made and performed
entirely within the State of Kentucky.

 

	 	AppHarvest, Inc.
	 
	By:	 	 	 
	 	[Name and Title]	 	Date
	 
	 	 	 	 
	 	Jonathan Webb	 	 Date

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