Document:

Exhibit 10.2

 

SETTLEMENT
AGREEMENT

 

This
settlement agreement (hereinafter, the “Settlement Agreement”) is entered into as of September 30, 2021 between Iroquois
Master Fund Ltd., (“Iroquois”), on the one hand, and MassRoots, Inc. (“MassRoots”), Isaac Dietrich (“Dietrich),
Danny Meeks (“Meeks”) and Empire Services, Inc. (“Empire”) (collectively, “Respondents”) on the other,
with reference to the following Recitals. Iroquois, MassRoots, Dietrich, Meeks and Empire are individually referred to herein as a “Party”,
and collectively referred to herein as the “Parties”.

 

RECITALS

 

WHEREAS,
on or about June 30, 2021, Iroquois commenced an arbitration against Respondents before the American Arbitration Association, entitled
Iroquois Master Fund Ltd. v. MassRoots, Inc, Isaac Dietrich, Daniel Meeks, and Empire Services, Inc. (Case No. 01-21-0004-5705)
(the “Arbitration”), in which Iroquois asserted claims against Respondents relating to a warrant, dated July 21, 2017, issued
by MassRoots and subsequently purchased by, and re-issued by MassRoots to, Iroquois (the “Warrant”);

 

WHEREAS,
on or about July 19, 2021, Dietrich, Meeks and Empire commenced a lawsuit in the U.S. District Court for the Southern District of New
York, entitled Isaac Dietrich, Danny Meeks and Empire Services, Inc. v. Iroquois Master Fund Ltd. (Case No. 21 cv 06167), seeking,
inter alia, certain injunctive relief against Iroquois (the “Lawsuit”);

 

WHEREAS,
on or about August 20, 2021, Iroquois asserted counterclaims against Dietrich, Meeks and Empire in the Lawsuit;

 

WHEREAS,
the Parties desire to resolve and settle all claims and counterclaims between them, including without limitation those claims and counterclaims
asserted in the Arbitration and/or the Lawsuit;

 

     

     

    

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants contained herein, the Parties do hereby agree as follows:

 

1. Simultaneous
with the execution of this Settlement Agreement, the Parties shall execute in counterparts a mutual release in the form annexed hereto
as Attachment A (the “Mutual Releases”). Counsel for the Parties shall exchange executed Mutual Releases and shall hold them
in escrow pending notification from counsel for Iroquois that the Settlement Payment (as defined herein) and MassRoots preferred stock
described in Paragraph 10 of this Settlement Agreement have been received by Iroquois.

 

2. Simultaneous
with the execution of this Settlement Agreement, counsel for the Parties shall execute in counterparts (a) the Stipulation of Dismissal
of the Arbitration with Prejudice, annexed hereto as Attachment B (the “Arbitration Stipulation”), (b) the Stipulation of
Dismissal of the Lawsuit with Prejudice, annexed hereto as Attachment C (the “Lawsuit Stipulation” together with the Arbitration
Stipulation, the “Stipulations”); the Exchange Agreement annexed hereto as Attachment E (the “Exchange Agreement”);
and the related Certificate of Designation defining the rights, privileges and limitations of the preferred stock annexed hereto as Attachment
F (the “Series Z COD”) . The executed Stipulations shall be provided to counsel for Respondents, who will hold them in escrow
pending notification from counsel for Iroquois that the Settlement Payment and MassRoots preferred stock described in Paragraph 10 of
this Settlement Agreement have been received by Iroquois.

 

3. This
Settlement Agreement may be executed in counterparts.

 

4. The
Parties agree to execute such other and further documents as may be reasonably required to effect and complete the purpose of this Settlement
Agreement.

 

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5. The
execution of this Settlement Agreement shall not constitute, nor is it in any way, an admission by any of the Parties of any liability
or wrongdoing of any type, kind or nature.

 

6. The
Parties represent and acknowledge that in executing this Settlement Agreement, they do not rely, and have not relied, upon any representation
or statement not set forth in this Settlement Agreement with regard to the subject matter, basis, or effect of this Settlement Agreement
or otherwise. All Parties cooperated in the drafting and preparation of this Agreement with advice of counsel. This Settlement Agreement
shall not be construed against any Party on the ground that it was the drafter of this Settlement Agreement or on any other grounds.
The Parties affirm that they are competent to execute this Settlement Agreement, that their execution of this Settlement Agreement has
not been obtained by duress and that this Settlement Agreement is the product of reasonable and good faith negotiations. The Parties
further acknowledge that they are represented by counsel of their choice, that they have carefully reviewed the provisions of this Settlement
Agreement with their counsel and that they understand them and voluntarily accept them as binding.

 

7. This
Settlement Agreement shall be binding upon and inure to the benefit of the Parties and any of their respective heirs, administrators,
executors, legal or personal representatives, parents, subsidiaries, affiliates, predecessors, successors, assigns, officers, directors,
employees, stockholders, attorneys and insurers.

 

8. The
Parties shall each bear their own costs and attorneys’ fees in connection with this Settlement Agreement, including but not limited
to all costs and attorneys’ fees in connection with the Arbitration and Lawsuit.

 

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9. Each
individual executing this Settlement Agreement on behalf of any Party expressly represents and warrants that he/she has authority to
execute and thereby bind the Party on behalf of which he/she executes this Settlement Agreement to the terms of this Settlement Agreement
and agrees to indemnify and hold harmless each other Party against any claim for which such authority did not exist.

 

10. Within
five (5) business days of the receipt by counsel to Respondents of a copy of this Settlement Agreement executed by Iroquois, MassRoots,
on its own behalf and on behalf of Dietrich, Meeks and Empire, shall: (a) pay by wire the sum of $1,000,000 (ONE MILLION DOLLARS) (the
“Settlement Payment”) to Iroquois; and (b) issue to Iroquois shares of MassRoots preferred stock (Series Z) (collectively,
the “Series Z Shares”) sufficient in number such that if they are converted into MassRoots’ common stock (“Common
Stock”) by Iroquois upon or after any closing of an acquisition of Empire by MassRoots, such shares of Common Stock will be equal
in number to 9.99% of the issued and outstanding shares of Common Stock at the time of such acquisition (collectively, the “Converted
Shares”).1 Simultaneous with its execution of this Settlement Agreement, Iroquois will provide wire transfer instructions
to MassRoots. The period commencing on the execution of this Settlement Agreement by Iroquois and ending (a) one hundred eighty (180)
days after the consummation of the next sale of Common Stock by means of an effective Registration Statement on Form S-1 filed with the
SEC in conjunction with the listing on NASDAQ (“the NASDAQ Listing”), or (b) two hundred seventy (270) days from the date
of this Settlement Agreement, whichever is earlier, shall constitute a lock-up period (the “Lock-Up Period”). For the avoidance
of doubt, the Lock-Up Period shall expire no later than two hundred seventy (270) days from the date of this Settlement Agreement. Iroquois
agrees that it will not, without the prior written consent of MassRoots, offer, pledge, sell, contract to sell, sell any option or contract
to purchase, purchase any option or contract to sell, grant any option, right or warrant for the sale of, lend or otherwise dispose of
or transfer (collectively, to “Transfer”) any of the Series Z Shares or the Converted Shares during the Lock-Up Period. Iroquois
further acknowledges and agrees that, for ninety (90) days after the Lock-Up Period ends (the “Post Lock-Up Period”), on
any given trading day, it may only Transfer the shares of Common Stock representing no more than five percent (5%) of the daily trading
volume of the shares of Common Stock. Notwithstanding the foregoing and any other provision of this Settlement Agreement, the Parties
agree that, if the five (5) day VWAP closing price per share of Common Stock, as reported by the then trading market, increases by fifty
percent (50%) or more from its price on the date that MassRoots first uplists its Common Stock on a Senior Exchange, the Post-Lock Up
Period shall automatically end, and Iroquois will be permitted Transfer any number shares of MassRoots Common Stock.

 

 

 

	1	In entering into this Settlement Agreement, MassRoots, Meeks
and Dietrich represent and warrant that the Class Z preferred stock being issued to Iroquois contains certain anti-dilution provisions
that will ensure that, regardless of any subsequent issuances of any convertible debt or equity in MassRoots, Iroquois will maintain
its right to convert into 9.99% of MassRoots common stock up to the time of the NASDAQ Listing as defined herein (the “Anti-Dilution
Provisions”). MassRoots, Meeks and Dietrich further represent and warrant that such Anti-Dilution Provisions will remain in existence
(and shall not expire) until the occurrence of the NASDAQ Listing. In addition, in entering into this Settlement Agreement, MassRoots,
Meeks and Dietrich further represent and warrant that if, prior to or in connection with the uplisting of the Common Stock to a Senior
Exchange, MassRoots issues to Meeks, or to any entity owned or controlled in whole or in part by Meeks (or any member of Meeks’
family) any warrants for the purchase of any Common Stock (the “Meeks Warrant”), MassRoots will issue a warrant to Iroquois
with the same rights and terms as the Meeks Warrant to Iroquois.

 

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11. Promptly
after receipt of both the Settlement Payment and the Series Z Shares by Iroquois, counsel for Iroquois shall provide written notice to
counsel for Respondents. Upon such notification, counsel for the Parties are authorized to release the executed Mutual Releases
to their respective clients and counsel for Respondents is authorized to file the Arbitration Stipulation with the American Arbitration
Association and the Lawsuit Stipulation with the U.S. District Court for the Southern District of New York.

 

12. Iroquois
agrees that any rights of Iroquois, and any duties owed by MassRoots to Iroquois, under the Warrant are hereby terminated so long as
MassRoots complies with its obligation under this Settlement Agreement to make the Settlement Payment and transfer the Series Z Shares
to Iroquois. For the avoidance of doubt, if MassRoots fails to make the Settlement Payment or to transfer the Series Z Shares in compliance
with its obligations under this Settlement Agreement, the waiver set forth herein shall be of no effect, and Iroquois will retain all
of its rights, and MassRoots will continue to owe all its duties, under the Warrant.

 

13. Iroquois
acknowledges that in connection with Respondents’ entry into this Settlement Agreement, Meeks and Empire are entering into an agreement
relating to a loan by Meeks to MassRoots and the issuance of MassRoots preferred stock by MassRoots to Meeks, a copy of which is annexed
hereto as Attachment D (the “Meeks/MassRoots Agreement”). Provided that Iroquois receives the Settlement Payment and Series
Z shares, Iroquois hereby consents to and waives any objection to the Meeks/MassRoots Agreement, the transactions reflected therein and
contemplated thereby, and any acts undertaken by MassRoots, Dietrich, Meeks and/or Empire to effectuate the purposes of the Meeks/MassRoots
Agreement. Iroquois further acknowledges that the foregoing consent and waiver of objections is an integral part of this Settlement Agreement,
and absent such consent and waiver of objections, Respondents would not be willing to enter into this Settlement Agreement in the absence
of the foregoing consent and waiver of objections.

 

14. This
Settlement Agreement is the sole, integrated and entire agreement of the Parties with respect to the subject matter hereof, and supersedes
any and all prior and contemporaneous agreements, negotiations, commitments, understandings and discussions between the Parties with
respect to the subject matters covered herein. No covenants, representations or undertakings not specifically contained in this Settlement
Agreement, whether oral or written, shall be deemed to exist or to bind any of the Parties to this Settlement Agreement. The Parties
acknowledge that they are not relying upon any representations or warranties other than those expressly made in this Settlement Agreement.

 

15. This
Settlement Agreement, or any provision thereof, may not be altered, amended, modified or waived except by a writing executed by all of
the Parties. The waiver of any one provision of this Settlement Agreement shall not be deemed to be a waiver of any other provision of
this Settlement Agreement.

 

16. It
is the express intention of the Parties that this Settlement Agreement and any questions concerning its validity, construction or performance
shall be governed by the laws of the State of New York, without regard to any state’s choice of law provisions.

 

17. Courts
within the State of New York will have exclusive jurisdiction over all disputes between the Parties hereto arising out of or relating
to this Settlement Agreement. In connection with any such dispute, each of the Parties consents to and agrees to submit to the jurisdiction
and venue of courts within the State of New York, and waives, and agrees not to assert, any claim that (i) such Party is not personally
subject to the jurisdiction or venue of such courts, (ii) such Party and such Party’s property is immune from any legal process
issued by such courts or (iii) any litigation commenced in such courts is brought in an improper venue or inconvenient forum.

 

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IN
WITNESS WHEREOF, the parties have executed this Settlement Agreement by their signatures below:

 

	IROQUOIS MASTER FUND LTD.	 
	 	 
	By: 	/s/ Richard Abbe	 	Dated: September 30, 2021
	 	Richard Abbe	

 

	MASSROOTS, INC.	 
	 	 
	By:	 /s/ Isaac Dietrich	 	Dated: September 30, 2021
	 	Isaac Dietrich (on behalf of MassRoots, Inc.)	
	 	 
	/s/ Isaac Dietrich	 	Dated: September 30, 2021
	Isaac Dietrich (in his individual capacity)	
	 	 
	/s/ Danny Meeks	 	Dated: September 30, 2021
	Danny Meeks (in his individual capacity)	

 

	EMPIRE SERVICES, INC.	 
	 	 
	By: 	/s/ Danny Meeks	 	Dated: September 30, 2021
	 	Danny Meeks (on behalf of Empire Services, Inc.)	

 

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ATTACHMENT
A

 

 

 

 

 

 

 

 

 

 

 

 

 

    7

     

    

 

MUTUAL
RELEASE

 

TO
ALL WHOM THESE PRESENTS SHALL COME OR MAY CONCERN, KNOW THAT

 

Iroquois
Master Fund Ltd.

 

and
each of its heirs, executors, administrators, predecessors, successors, affiliates, assigns, officers, directors, representatives, employees,
associated persons, agents, contractors, stockholders, and attorneys, and all persons acting by, through and under each of them (collectively,
the “Claiming Parties”); and

 

MassRoots,
Inc., Isaac Dietrich, Danny Meeks, and Empire Services, Inc.

 

and
each of their heirs, executors, administrators, predecessors, successors, affiliates, assigns, officers, directors, representatives,
employees, associated persons, agents, contractors, stockholders, and attorneys, and all persons acting by, through and under each of
them (collectively, the “Responding Parties”), in consideration of this Mutual Release, and the promises set forth
in the Settlement Agreement annexed hereto and dated September __, 2021 (the
“Settlement Agreement”), and subject to the provisions of that Settlement Agreement, hereby forever release and discharge
each other as follows:

 

1. The
Claiming Parties, individually and collectively, hereby release and discharge the Responding Parties, individually and collectively,
from any and all liability, actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties,
covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, counterclaims
and demands whatsoever, in law, admiralty or equity, which the Claiming Parties, individually or collectively, ever had, now have or
hereafter can, shall or may have against the Responding Parties by reason of any matter, cause or thing whatsoever from the beginning
of time to the date hereof, including without limitation all causes of action, claims or counterclaims that were, or could have been,
asserted or maintained, whether known or unknown, in the arbitration entitled Iroquois Master Fund Ltd. v. MassRoots, Inc, Isaac Dietrich,
Daniel Meeks, and Empire Services, Inc. (AAA Case No. 01-21-0004-5705) and/or the lawsuit in the U.S. District Court for the Southern
District of New York, entitled Isaac Dietrich, Danny Meeks and Empire Services, Inc. v. Iroquois Master Fund Ltd. (Case No. 21
cv 06167), provided that nothing contained herein shall be deemed to effect a release of any obligation undertaken in the Settlement
Agreement annexed hereto. For the avoidance of doubt, to the extent that MassRoots, Inc. should fail to make the Settlement Payment and/or
to transfer the Series Z Shares required by Paragraph 10 of the Settlement Agreement, the Claiming Parties’ release set forth herein
shall be void, unenforceable and of no further effect.

 

2. The
Responding Parties, individually and collectively, hereby release and discharge the Claiming Parties, individually and collectively,
from any and all liability, actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties,
covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, counterclaims
and demands whatsoever, in law, admiralty or equity, which the Responding Parties, individually or collectively, ever had, now have or
hereafter can, shall or may have against the Claiming Parties by reason of any matter, cause or thing whatsoever from the beginning of
time to the date hereof, including without limitation all causes of action, claims or counterclaims that were, or could have been, asserted
or maintained, whether known or unknown, in the arbitration entitled Iroquois Master Fund Ltd. v. MassRoots, Inc, Isaac Dietrich,
Daniel Meeks, and Empire Services, Inc. (AAA Case No. 01-21-0004-5705) and/or the lawsuit in the U.S. District Court for the Southern
District of New York, entitled Isaac Dietrich, Danny Meeks and Empire Services, Inc. v. Iroquois Master Fund Ltd. (Case No. 21
cv 06167), provided that nothing contained herein shall be deemed to effect a release of any obligation undertaken in the Settlement
Agreement annexed hereto.

 

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1.
This Mutual Release may be executed in counterparts.

 

IN
WITNESS WHEREOF, the parties have executed this Mutual Release on the dates set forth below.

 

	IROQUOIS MASTER FUND LTD.	 
	 	 
	By: 	/s/ Richard Abbe	 	Dated: September 30, 2021
	 	Richard Abbe	 
	 	 
	MASSROOTS, INC.	 
	 	 
	By:	/s/ Isaac Dietrich	 	Dated: September 30, 2021
	 	Isaac Dietrich	 
	 	 
	/s/ Isaac Dietrich	 	Dated: September 30, 2021
	Isaac Dietrich	 
	 	 
	/s/ Danny Meeks	 	Dated: September 30, 2021
	Danny Meeks	 
	 	 
	EMPIRE SERVICES, INC.	 
	 	 
	By: 	/s/ Danny Meeks	 	Dated: September 30, 2021
	 	Danny Meeks	 

 

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ATTACHMENT
B

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

 

 

 

 

 

 

 

ATTACHMENT
C

 

 

 

 

 

 

 

 

 

 

     

     

    

 

 

 

 

 

 

 

ATTACHMENT
D

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

 

 

 

 

 

 

 

ATTACHMENT
E

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

 

 

 

 

 

 

 

 

 

 

 

ATTACHMENT
FDocument

RETIREMENT AGREEMENT AND GENERAL RELEASE OF CLAIMS

This Retirement Agreement and General Release of Claims (this “Agreement”) is made by and between Casey’s General Stores, Inc. (“Casey’s”), and Julia L. Jackowski (“Employee”) (individually a “Party,” collectively the “Parties”), with respect to the following:

A.    Employee is retiring effective October 31, 2021 (the “Retirement Date”).

B.    In consideration of the covenants, promises, obligations, releases and conditions set forth below, and for other good and valuable consideration, the adequacy of which is hereby acknowledged, it is mutually agreed upon by and between the Parties, the following:

TERMS

1.Retirement. Employee is retiring from Casey’s effective as of the Retirement Date.  As of the Retirement Date, Employee will cease to be employed by, or to serve as, Chief Legal Officer and Secretary of, Casey’s.  Effective as of the Retirement Date, Employee hereby unconditionally and irrevocably resigns from all other offices, titles, positions and appointments at Casey’s and any of its subsidiaries and affiliates, including as a director, manager, officer, employee, committee member or trustee thereof.

2.Effective Date.  The effective date of this Agreement shall be upon the expiration of the revocation period set forth in Section 4, which is the eighth day after it is executed by Employee (the “Effective Date”).  If this Agreement is revoked, no Payments (as defined below) will be made and this Agreement will become null and void.

3.Payments. Employee will be entitled to (a) fifty thousand dollars ($50,000), which equates to a COBRA equivalent amount of 18 months, regardless of whether Employee elects COBRA continuation coverage, and (b) one hundred thousand dollars ($100,000) for transition services, as set forth below in Section 10 (clauses (a) and (b), together the “Payments”), in each case, subject to applicable withholdings.  The Payments will be made on Casey’s next regular payroll date after the Effective Date, but in no event more than thirty (30) days following the Effective Date.  The timing of the Payments may be subject to further restrictions under Section 409A of the Internal Revenue Code.  Employee further acknowledges that, due to her retirement, she is ineligible to receive benefits/payments under the Casey’s General Stores, Inc. Officer Severance Plan.
 
4.Consideration and Revocation Period (Older Workers Benefit Protection Act and Advice of Counsel).  Employee has twenty-one (21) calendar days from the delivery of this Agreement to review and consider it before signing, but in no event may this Agreement be signed prior to the Retirement Date.  It will become null and void if not signed within the twenty-one (21) day period.  Any non-material modifications to this Agreement do not restart or affect the original twenty-one (21) day period.  Employee may revoke this Agreement within seven (7) days of signing it.  Revocation must be made by e-mailing a notice of revocation to Chad Frazell at chad.frazell@caseys.com.  To be effective, the revocation must be received no later than the seventh day of the revocation period.  If Employee does not revoke this Agreement, it shall go into effect on the eighth day after it is signed.  Employee is advised to consult an attorney with regard to this situation and prior to, and in connection with, evaluating and signing this Agreement.

5.General Release and Exceptions. In consideration of the Payments, Employee on her own behalf and on behalf of her attorneys, heirs, executors, administrators, successors and assigns, hereby fully, finally and forever releases and discharges Casey’s and any and all Affiliated Entities (for purposes of this Agreement, “Affiliated Entities” includes all directly or indirectly owned or controlled subsidiary companies or entities of Casey’s, and each of their predecessors, successors, assigns, and all of their current and former officers, owners, directors, agents, representatives, attorneys, insurers and employees) of and from all claims, charges, complaints, demands, liabilities, obligations, promises, agreements, controversies, actions, causes of action, suits, damages, rights, entitlements, costs, debts, losses and expenses, of any and every nature whatsoever, whether known or unknown, and even if Employee would not have entered into this Agreement had Employee known about them, which Employee now has or may later claim to have against Casey’s or any Affiliated Entities, individually or collectively, as a result of any and all actions, omissions, transactions, occurrence, or events of Casey’s or any Affiliated Entities or in any way related to Casey’s or its operations, Employee’s employment with Casey’s or any Affiliated Entity or Employee’s separation from such employment, occurring through the date Employee signs this Agreement (collectively, the “General Release”). 

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(a)    The General Release further includes, without limitation:

(i)Claims for harassment, discrimination and retaliation, and those pursuant to the Family and Medical Leave Act (FMLA), 29 U.S.C. §2601;  the Age Discrimination in Employment Act (ADEA), 29 U.S.C. §621, et seq.; Title VII of the Civil Rights Act of 1964, 42 U.S.C. §2000, et seq.; the Americans With Disabilities Act, 42 U.S.C. §12101, et seq.; the Equal Pay Act, 29 U.S.C. §621, et seq.; 42 U.S.C. §1981; the Civil Rights Act of 1991; the False Claims Act, 31 U.S.C. § 3729, et seq.; claims under the Rehabilitation Act of 1973, 29 U.S.C. §701, et seq.; the Civil Rights Act of 1866, 42 U.S.C. §1981, et seq.; the Employee Retirement Income Security Act of 1974 (ERISA), as amended, 29 U.S.C. § 1001, et seq.; the National Labor Relations Act, 29 U.S.C. §151-169; the Occupational Safety and Health Act, 29 U.S.C. §651, et seq.; Worker Adjustment and Retraining Notification Act of 1988, 29 U.S.C. §2101, et seq.; claims under the Iowa Civil Rights Act; and any others under any applicable federal, state or other law, statute, constitution, ordinance or regulation; and

(ii)Wage-related claims, including but not limited to those related to the under or non-payment of wages, off-the-clock work, vacation or sick pay, paid or unpaid time off, overtime/premium pay, front/back pay, make-up time, accommodation for any disability, expenses, separation of employment, employment classification, failure to provide meal/rest breaks, paystub violations, timeliness of wages, employment-related penalties and liquidated damages, and any contractual rights or privileges; and

(iii)Tort-based or equitable claims, including but not limited to wrongful discharge, fraud, intentional/negligent misrepresentation, concealment, defamation, breach of fiduciary duty, infliction of emotional distress, interference with contract or economic advantage, unfair/unlawful business practices, invasion of privacy, conversion or declaratory relief; and

(iv)Claims for attorneys’ fees or costs arising or related to those matters released herein.  

(b)    Employee further acknowledges and represents that:

(i)Except with regard to the Payments, Employee possesses no outstanding claims for any compensation or benefits, whether by contract or law; and

(ii)The Payments provided by Casey’s in this Agreement are adequate and satisfactory in exchange for the General Release provided by Employee and the other promises and representations Employee makes to Casey’s in this Agreement; and

(iii)All, if any, known workplace injuries or occupational diseases were timely reported to Casey’s, and currently Employee has no known workplace injuries or occupational diseases that have not been reported.  Employee has no pending workers’ compensation claims.  This Agreement is not related in any way to any claim for workers’ compensation benefits, and Employee has no basis for such a claim. 

(c)    Employee also agrees to secure the dismissal, with prejudice, of any proceeding, grievance, action, charge or complaint, if any, that Employee or anyone else on Employee’s behalf has filed or commenced against Casey’s or any Affiliated Entity with respect to any matter involving Employee’s employment with Casey’s or any Affiliated Entity, Employee’s separation from such employment or any other matter that is the subject of the General Release.

(d)    Provided however:  

(i)This Agreement and the General Release is not intended to waive Employee’s entitlement to (v) vested benefits under any 401(k) plan, (w) payment of final wages, which will be paid in accordance with Casey’s policies and applicable law, (x) Employee’s fiscal-year 2022 annual incentive program payment, prorated through the Retirement Date, and subject to achievement of applicable performance goals, which shall be paid to Employee at a time consistent with the other similarly situated Casey’s participants (but no event more than two-and-one-half months after the end of Casey’s 2022 fiscal year), (y) Employee’s rights under outstanding and unvested equity awards, subject in each case to the provisions of the applicable award 
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agreements; and (z) advancement and indemnification with respect to Employee’s service as an officer of the Company or any Affiliated Entities, which shall continue without regard to Employee’s retirement.

(ii)This Agreement and the General Release do not apply to or include any claims that cannot be released or waived by law or private agreement (including, but not limited to, workers’ compensation claims, if available), actions to enforce this Agreement or to acts or practices which occur after the date Employee executes this Agreement.

(iii)This Agreement and the General Release do not preclude Employee from consulting with legal counsel or communicating with, providing information to, or filing, testifying, assisting or participating in a charge, complaint, investigation or proceeding with the Equal Employment Opportunity Commission (EEOC), the Iowa Civil Rights Commission (ICRC) or applicable local agency, the Occupational Safety and Health Administration (OSHA), the Securities and Exchange Commission (SEC), the National Labor Relations Board (NLRB) or any other federal, state or local governmental or law enforcement agency or commission (“Government Agencies”).  However, Employee agrees that the Payments shall be the sole relief provided to her and she releases and waives any right to monetary recovery, reinstatement or other personal relief from such Government Agencies arising from such claims, except that Employee is expressly permitted to accept a whistleblower award from the SEC pursuant to Section 21F of the Securities Exchange Act of 1934 or from any other Governmental Agencies.

(iv)Nothing in this Agreement and General Release is intended to or shall limit or restrict Employee’s right to engage in protected activity, including but not limited to participating in concerted activity under the National Labor Relations Act.

6.Return of Casey’s Property/Confidential Information. Immediately following the Retirement Date, Employee will return to Casey’s all of its property in her possession, custody or control, including but not limited to its contracts, records, files and correspondence, which relate to or reference Casey’s or the Affiliated Entities and which were provided by Casey’s or any Affiliated Entity or obtained as a result of Employee’s employment, and any Casey’s or any Affiliated Entities’ vehicles, keys, phones, laptops, computers, financial documents, operational materials, manuals, general work files and similar items.  Employee also acknowledges that in this position with Casey’s, she obtained confidential business and proprietary information regarding Casey’s and the Affiliated Entities. Employee agrees that she has not made and will not disclose any such information nor make any such information known to any member of the public, any competitor of Casey’s or any other person not designated in writing by Casey’s.  This paragraph is not intended to preclude Employee from testifying truthfully in any court of law or being fully and candidly involved in an investigation or proceedings before a Governmental Agency.

7.Defend Trade Secrets Act.  Notwithstanding the confidentiality obligations herein, pursuant to 18 U.S.C. Section 1833(b), neither Employee nor any other party bound hereunder shall be held criminally or civilly liable under any federal or state trade secret law for the disclosure of confidential information or a trade secret that is made: (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

8.Non-Solicitation/Non-Disturbance. Employee agrees that for a period of one (1) year following the Retirement Date, she shall not directly or indirectly (such as by providing information or assistance to any other person or entity): (i) solicit or encourage any person who was an employee of Casey’s (or any Affiliated Entity) during the time Employee was employed to leave the employ of the Company (or any Affiliated Entity); or (ii) interfere with, disrupt or attempt to disrupt, any existing relationship, contractual or otherwise, between Casey’s (or any Affiliated Entity) and any employee, customer, client, supplier or agent of Casey’s (or any Affiliated Entity).

9.Non-Competition.  Employee agrees that for a period of six (6) months following the Retirement Date, she will not, directly or indirectly, own, manage, operate, control, be employed by (whether as an employee, consultant, independent contractor or otherwise, and whether or not for compensation) or render services to any person, firm, corporation or other entity, in whatever form, that is a competitor of Casey’s without the prior written consent of Casey’s, which consent shall not be unreasonably withheld.  
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Notwithstanding the foregoing, nothing herein shall prohibit Employee from owning not more than 2% of the equity securities of a publicly traded corporation engaged in a business that is a competitor of Casey’s or any of its subsidiaries, so long as Employee (i) has no active participation in the business of such corporation and (ii) is not a controlling person of, or a member of a group which controls, such publicly traded corporation.  For purposes of this Section 9, the word “competitor” means any person or entity engaged, directly or indirectly through a subsidiary or affiliate, in the business of operating retail “convenience stores”; gasoline stations, travel plazas or other vehicle fuel outlets; or “quick serve” pizza restaurants or other “fast food” pizza outlets, in each case, in two or more states, at least one of which is a state in which Casey’s has operations or that Employee knows is a state in which Casey’s is actively considering the establishment of operations.

10.Transition Services. Employee agrees that, for a period of twelve (12) months following the Retirement Date, she will cooperate with and reasonably assist Casey’s with the orderly transition of her duties and will be reasonably available to Casey’s and its representatives with regard to questions, inquiries and other details related to any matter, project, initiative or effort that Employee was involved with while employed by Casey’s or any Affiliated Entity.

11.Participation in Future Actions. Employee agrees to cooperate with Casey’s regarding any pending or subsequently filed litigation, claims or other disputed items involving Casey’s or any Affiliated Entity that relate to matters within her knowledge or responsibility during her employment with Casey’s or any Affiliated Entity.  Without limiting the foregoing, Employee agrees (i) to meet with Casey’s representatives, its counsel, or other designees at mutually convenient times and places with respect to any items within the scope of this provision; (ii) to provide truthful testimony regarding same to any court, agency, or other adjudicatory body; and (iii) to provide Casey’s with notice of contact by any adverse party or such adverse party’s representative except as may be required by law.  Casey’s will reimburse Employee for all reasonable expenses in connection with the cooperation described in this paragraph.

12.Non-Disparagement. Employee agrees not to intentionally make, or intentionally cause any other person to make, any public statement that is intended to criticize or disparage Casey’s or the Affiliated Entities. Casey’s agrees to use commercially reasonable efforts to cause its executive officers as of the date hereof not to intentionally make, or intentionally cause any other person to make, any public statement that is intended to criticize or disparage Employee. This Section 12 shall not be construed to prohibit any person from responding publicly to incorrect public statements, from making truthful statements when required by applicable law, regulation, subpoena or legal process, in enforcing this Agreement, or in exercising those rights as set forth above in Section 5(d).

13.Injunctive Relief and Forfeiture. Employee acknowledges that monetary damages may be an insufficient remedy for any breach or threatened breach of Sections 6, 8, 9, 10, 11 and 12.  As such, Casey’s shall be entitled to seek injunctive relief without having to prove actual damages, and without any requirement to post a bond or other security.  All rights and remedies are cumulative and in addition to any other rights or remedies to which Casey’s may be entitled at law or in equity.  In addition to any other remedies that may be available to Casey’s under this Agreement, in the event of any breach by Employee of Sections 6, 8, 9, 10, 11 and 12, Employee shall forfeit without payment therefor any unpaid portion of the Payments.

14.Judicial Modifications. Although the obligations and restrictions contained in Sections 6, 8, 9, 10, 11 and 12 are considered by the Parties to be fair and reasonable, it is recognized that restrictions of such nature may fail for technical reasons, and accordingly it is hereby agreed that if any of such restrictions shall be adjudged to be void or unenforceable for whatever reason, but would be valid if part of the wording thereof were deleted, or the period thereof reduced or the area dealt with thereby reduced in scope, the obligations and restrictions contained in Sections 6, 8, 9, 10, 11 and 12 shall be enforced to the maximum extent permitted by law, and the parties consent and agree that such scope or wording may be accordingly judicially modified in any proceeding brought to enforce or interpret such restrictions.

15.No Admission of Liability. By entering into this Agreement, Casey’s does not admit, expressly or impliedly, that it or any of its employees, agents or otherwise, have engaged in any wrongdoing whatsoever or that Employee’s rights have been violated in any way.  To the contrary, any such liability or wrongdoing is expressly denied.

16.Tax Consequences.  The Parties shall be solely responsible for their own tax consequences arising from this Agreement and the Payments, except that the Payments shall be subject to withholding and 
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deductions as Casey’s may reasonably determine it should withhold or deduct pursuant to any applicable law or regulation.  The Parties are not making any tax-related representations to one another, are not relying on any tax-related representations from one another and have had the opportunity to consult their own tax and legal professionals.  Employee will be issued applicable tax documents for the Payments.

17.Entire Agreement.  This Agreement constitutes the entire agreement between the Parties and supersedes all other agreements and understandings between them (whether written, oral or implied) related to its subject matter.  No modification, amendment or waiver shall be effective unless approved in writing by the Parties.

18.Severability.  The terms and provisions of this Agreement shall be considered to be separable and independent of each other.  In the event any term or provision of this Agreement is found by a court of competent jurisdiction to be invalid or unlawful, such finding shall not affect the validity or effectiveness of any or all of its remaining terms and provisions.

19.Governing Law/Venue.  This Agreement shall be governed by, construed and enforced in accordance with the laws of the State of Iowa.  Any disputes arising out of or related to this Agreement shall be resolved in the state or federal courts, as applicable, located in Polk County, Iowa, and the Parties hereby waive any and all arguments of inconvenient forum or other challenges to such venue.
20.Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original and all together shall be deemed one and the same instrument.  Fax and e-mail (.pdf) signatures shall have the same force and effect as originals.

21.Costs and Fees.  The Parties shall bear their own costs and attorneys’ fees in any manner related to or arising out of the subject matter of this Agreement, any other claims or issues released herein and/or for the preparation and execution of this Agreement.

22.Further Representations. Employee represents that: (i) prior to signing she has read and fully understands this Agreement; (ii) prior to signing she was advised to, and has had the opportunity to consult with, an attorney of her own choosing and to have the consequences of this Agreement fully explained; (iii) she is not executing this Agreement in reliance on any promises, representations or inducements other than those contained in this Agreement; (iv) she is executing this Agreement knowingly and voluntarily, free of any duress or coercion; and (v) she has not transferred, assigned or otherwise disposed of any of her rights in any manner related to the matters released hereunder.

Employee may revoke this Agreement for a period of seven (7) calendar days following the date Employee signs this Agreement.  Revocation must be made by e-mailing a notice of revocation to Chad Frazell at chad.frazell@caseys.com.  To be effective, the revocation must be received no later than the seventh day of the revocation period.  If Employee does not revoke this Agreement, it shall go into effect on the eighth day after it is signed.  Employee is advised to consult an attorney with regard to this situation and prior to, and in connection with, evaluating and signing this Agreement.

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the dates below:

						
	EMPLOYEE:

/s/ Julia L. Jackowski            
By: Julia L. Jackowski

Date: November 1, 2021
	CASEY’S GENERAL STORES, INC.:

/s/ Chad Frazell                
By: Chad Frazell

Date: November 8, 2021

		

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