Document:

Exhibit

ANNEX A
                                

GLOBAL PAYMENTS INC.
SIXTH AMENDED AND RESTATED
NON-EMPLOYEE DIRECTOR COMPENSATION PLAN

                                

TABLE OF CONTENTS

	
				
	ARTICLE 1
	PURPOSE
	3

	1.1
	

	Background
	3

	1.2
	

	Purpose
	3

	1.3
	

	Eligibility
	3

	ARTICLE 2
	DEFINITIONS
	3

	2.1
	

	Definitions
	3

	ARTICLE 3
	ADMINISTRATION
	4

	3.1
	

	Administration
	4

	3.2
	

	Reliance
	4

	ARTICLE 4
	SHARES
	4

	4.1
	

	Source of Shares for the Plan
	4

	ARTICLE 5
	CASH COMPENSATION
	5

	5.1
	

	Basic Cash Retainer
	5

	5.2
	

	Supplemental Cash Retainer
	5

	5.4
	

	Expense Reimbursement
	5

	ARTICLE 6
	EQUITY COMPENSATION
	5

	6.1
	

	Stock Awards
	5

	6.2
	

	Adjustments
	5

	6.3
	

	Award Certificates
	5

	ARTICLE 7
	AMENDMENT, MODIFICATION and TERMINATION
	6

	7.1
	

	Amendment, Modification and Termination
	6

	ARTICLE 8
	GENERAL PROVISIONS
	6

	8.1
	

	Duration of the Plan
	6

	8.2
	

	Expenses of the Plan
	6

	SCHEDULE I
	DIRECTOR COMPENSATION SCHEDILE
	7

GLOBAL PAYENTS INC.
SIXTH AMENDED AND RESTATED
NON-EMPLOYEE DIRECTOR COMPENSATION PLAN

ARTICLE 1
PURPOSE

1.1.    BACKGROUND.  This plan is adopted to aggregate and formalize the Company’s compensation policies for non-employee directors of the Company, including all cash and equity-based compensation.  This Sixth Amended and Restated Non-Employee Director Compensation Plan (the “Plan”) amends and restates the Fifth Amended and Restated Non-Employee Director Compensation Plan that became effective on April 25, 2019. The Plan operates as a subplan of the 2011 Incentive Plan pursuant to Section 4.3 of the 2011 Incentive Plan.
1.2.    Purpose.  The purpose of the Plan is to attract, retain and compensate highly-qualified individuals who are not employees of the Company or any of its Subsidiaries or Affiliates for service as members of the Board by providing them with competitive compensation and an equity interest in the Company.  The Company intends that the Plan will benefit the Company and its shareholders by allowing Non-Employee Directors to have a personal financial stake in the Company through an ownership interest in the Company’s Stock and will closely associate the interests of Non-Employee Directors with that of the Company’s shareholders.  
1.3.    ELIGIBILITY.  Non-Employee Directors of the Company who are Eligible Participants, as defined below, shall automatically be participants in the Plan.

ARTICLE 2
DEFINITIONS

2.1.    DEFINITIONS.  Capitalized terms used herein and not otherwise defined shall have the meanings given such terms in the 2011 Incentive Plan.  Unless the context clearly indicates otherwise, the following terms shall have the following meanings:
		
	(a)
	“Annual Stock Retainer” means with respect to each Non-Employee Director for each Plan Year, the dollar value to be delivered in the form of annual Stock awards under the Plan, as established from time to time by the Committee and set forth in Schedule I hereto.

		
	(b)
	“Basic Cash Retainer” means the annual cash retainer (excluding any Supplemental Cash Retainer and expenses) payable by the Company to a Non-Employee Director pursuant to Section 5.1 hereof for service as a director of the Company; as established from time to time by the Committee and set forth in Schedule I hereto.  

		
	(c)
	“Board” means the Board of Directors of the Company.

		
	(d)
	“Chairperson” means the Chairperson of the Board.

		
	(e)
	“Committee” means the Compensation Committee of the Board.

		
	(f)
	“Company” means Global Payments Inc., a Georgia corporation, or any successor corporation.

		
	(g)
	“Effective Date” of the Plan means October 1, 2019. 

		
	(h)
	“Eligible Participant” means any person who is a Non-Employee Director on the Effective Date or becomes a Non-Employee Director while this Plan is in effect; except that any director who is a former employee shall not be an Eligible Participant for a period of one year following the date of termination of employment. 

		
	(i)
	“Equity Award” means stock options, stock awards, restricted stock, restricted stock units, 

stock appreciation rights, or other awards based on or derived from the Stock which are authorized under the 2011 Incentive Plan for award to Non-Employee Directors. 
		
	(j)
	“Grant Date” of an Equity Award has the meaning given such term in Sections 6.1 hereof.

		
	(k)
	“2011 Incentive Plan” means the Global Payments Inc. 2011 Incentive Plan, as may be amended from time to time, and any subsequent equity compensation plan approved by the shareholders and designated by the Board as the Incentive Plan for purposes of this Plan.

		
	(l)
	“Non-Employee Chairperson” means the Non-Employee Director, if any, who has been designated by the Board as the Chairperson under the Board’s Corporate Governance Guidelines.

		
	(m)
	“Lead Director” means the Non-Employee Director, if any, who has been designated by the Board as the Lead Director under the Board’s Corporate Governance Guidelines.  The Lead Director shall have such duties as shall be assigned to him or her by the Board in such Corporate Governance Guidelines.

		
	(n)
	“Non-Employee Director” means a director of the Company who is not an employee of the Company or any of its Subsidiaries or Affiliates and who had not been appointed or elected to the Board solely by reason of his or her affiliation with a shareholder of the Company.

		
	(o)
	“Plan” means this Sixth Amended and Restated Non-Employee Director Compensation Plan, as amended from time to time.

		
	(p)
	“Plan Year(s)” means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned. 

		
	(q)
	“Supplemental Cash Retainer” means the supplemental annual cash retainer (excluding Basic Cash Retainer and expenses) payable by the Company to a Non-Employee Director pursuant to Section 5.2 hereof for service as Lead Director, Non-Employee Chairperson or chair of a committee of the Board; as established from time to time by the Committee and set forth in Schedule I hereto.  

		
	(r)
	“Stock” means the common stock, no par value per share, of the Company.

ARTICLE 3
ADMINISTRATION

3.1.    ADMINISTRATION.  The Plan shall be administered by the Committee.  Subject to the provisions of the Plan, the Committee shall be authorized to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, and to make all other determinations necessary or advisable for the administration of the Plan.  The Committee’s interpretation of the Plan, and all actions taken and determinations made by the Committee pursuant to the powers vested in it hereunder, shall be conclusive and binding upon all parties concerned including the Company, its shareholders and persons granted awards under the Plan.  The Committee may appoint a plan administrator to carry out the ministerial functions of the Plan, but the administrator shall have no other authority or powers of the Committee.  
3.2.    RELIANCE.  In administering the Plan, the Committee may rely upon any information furnished by the Company, its public accountants and other experts.  No individual will have personal liability by reason of anything done or omitted to be done by the Company or the Committee in connection with the Plan.  This limitation of liability shall not be exclusive of any other limitation of liability to which any such person may be entitled under the Company’s articles of incorporation or otherwise.

ARTICLE 4
SHARES

4.1.    SOURCE OF SHARES FOR THE PLAN.  Equity Awards that may be issued pursuant to the Plan shall be issued under the 2011 Incentive Plan, subject to all of the terms and conditions of the 2011 Incentive Plan.  The terms contained in the 2011 Incentive Plan are incorporated into and made a part of this Plan with respect to Equity Awards granted pursuant hereto, and any such awards shall be governed by and construed in accordance with the 2011 Incentive Plan.  In the event of any actual or alleged conflict between the provisions of the 2011 Incentive Plan and the provisions of this Plan, the provisions of the 2011 Incentive Plan shall be controlling and determinative.  This Plan does not constitute a separate source of shares for the grant of the Equity Awards described herein.

ARTICLE 5
CASH COMPENSATION

5.1.    BASIC CASH RETAINER.  Each Eligible Participant shall be paid a Basic Cash Retainer for service as a director during each Plan Year, payable in advance, on the first business day following each annual meeting of shareholders.  The amount of the Basic Cash Retainer shall be established from time to time by the Committee.  The amount of the Basic Cash Retainer is set forth in Schedule I, as amended from time to time by the Committee.  Each person who first becomes an Eligible Participant on a date other than an annual meeting date shall be paid a pro rata amount of the Basic Cash Retainer for that Plan Year to reflect the actual number of days served in the Plan Year. 
5.2.    SUPPLEMENTAL CASH RETAINER.  The Lead Director or Non-Employee Chairperson, as applicable, and the chairs of each committee of the Board may be paid a Supplemental Cash Retainer during a Plan Year, payable at the same times as installments of the Basic Cash Retainer are paid.  The amount of the Supplemental Cash Retainers shall be established from time to time by the Committee, and shall be set forth in Schedule I, as amended from time to time by the Committee.  A prorata Supplemental Cash Retainer will be paid to any Eligible Participant who is elected by the Board to a position eligible for a Supplemental Cash Retainer on a date other than the beginning of a Plan Year, to reflect the actual number of days served in such eligible capacity during the Plan Year. 
5.3.    EXPENSE REIMBURSEMENT.  All Eligible Participants shall be reimbursed for reasonable travel and out-of-pocket expenses in connection with attendance at meetings of the Board and its committees, or other Company functions at which the Chairperson, the Chief Executive Officer or the Lead Director requests the director to participate.  

ARTICLE 6
EQUITY COMPENSATION

6.1.    STOCK AWARDS.  Subject to share availability under the 2011 Incentive Plan, each Eligible Participant shall be granted an award of fully-vested Stock on the day that he or she first becomes an Eligible Participant (“Initial Stock Grant”).  In addition, subject to share availability under the 2011 Incentive Plan, each Eligible Participant in service on the day following an annual shareholders meeting will receive an award of fully-vested Stock (“Annual Stock Grant” and collectively with the Initial Stock Grant, the “Stock Grants”).  Each such day that such awards are to be granted under the Plan is referred to hereinafter as a “Grant Date.”  The Stock Grants shall have the following terms and conditions:
(a)    Number of Initial Stock Grants.  The number of shares in the Initial Stock Grant to an Eligible Participant shall be determined by multiplying the Proration Factor (as defined below) by the amount determined by (A) dividing the Annual Stock Retainer as in effect for that Plan Year, by the Fair Market Value of the Stock on the Grant Date, and (B) rounding to the nearest whole number.  The Proration Factor 

is a fraction, the numerator of which is the number of full months of service as a Non-Employee Director between the Grant Date and the next annual shareholders’ meeting date, and the denominator of which is 12.
(b)    Number of Annual Stock Grants.  The number of shares in the Annual Stock Grant to an Eligible Participant shall be determined by (A) dividing the Annual Stock Retainer as in effect for that Plan Year, by the Fair Market Value of the Stock on the Grant Date, and (B) rounding to the nearest whole number.  
(c)    Other Plan Conditions.  To the extent not specified herein, the Stock Grants shall be subject to the terms and conditions of the 2011 Incentive Plan.    
6.2.    ADJUSTMENTS.  For the avoidance of doubt, the adjustment provisions of the 2011 Incentive Plan (along with all of the other provisions of the 2011 Incentive Plan) shall apply with respect to all Equity Awards granted pursuant to this Plan.
6.3.    AWARD CERTIFICATES.  All unvested Equity Awards granted pursuant to this Plan shall be evidenced by a written award certificate, which shall include such provisions, not inconsistent with the Plan or the 2011 Incentive Plan, as may be specified by the Committee.  The form of applicable award certificates (if any) shall be approved by the Committee.

ARTICLE 7
AMENDMENT, MODIFICATION AND TERMINATION

7.1.    AMENDMENT, MODIFICATION AND TERMINATION. The Committee may, at any time and from time to time, amend, modify or terminate the Plan without shareholder approval; provided, however, that if an amendment to the Plan would, in the reasonable opinion of the Committee, require shareholder approval under applicable laws, policies or regulations or the applicable listing or other requirements of a securities exchange on which the Stock is listed or traded, then such amendment shall be subject to shareholder approval; and provided further, that the Committee  may condition any other amendment or modification on the approval of shareholders of the Company for any reason.  Modification of Equity Awards granted under this Plan shall be subject to the provisions of the 2011 Incentive Plan.

ARTICLE 8
GENERAL PROVISIONS

8.1.    DURATION OF THE PLAN. The Plan shall remain in effect until terminated by the Committee or the earlier termination or expiration of the 2011 Incentive Plan, including any successor plans.
8.2.    EXPENSES OF THE PLAN.  The expenses of administering the Plan shall be borne by the Company.

The foregoing is hereby acknowledged as being the Global Payments Inc. Sixth Amended and Restated Non-Employee Director Compensation Plan, adopted by the Board on April 25, 2019.
	
				
	 
	 
	Global Payments, Inc.
	 

	 
	 
	 
	 

	 
	By:
	/s/ David Green
	 

	 
	 
	David L. Green
	 

	 
	 
	Senior Executive Vice President, General Counsel and Corporate Secretary
	 

SCHEDULE I

DIRECTOR COMPENSATION SCHEDULE

The following shall remain in effect until modified by the Committee:

	
										
	Position Held
	Annual Basic
Cash Retainer
	Annual Supplemental Cash Retainer
	Annual Stock Retainer
(FMV)

	Non-Employee Chairperson
	$120,000
	

	

	$95,000
	

	$255,000
	

	Lead Director
	

	$120,000
	

	

	$50,000
	

	

	$200,000
	

	Audit Committee Chair
	

	$120,000
	

	$30,000
	

	$200,000
	

	Compensation Committee Chair
	

	$120,000
	

	

	$20,000
	

	

	$200,000
	

	Other Committee Chairs
	

	$120,000
	

	$20,000
	

	$200,000DIRECTOR
AND OFFICER INDEMNIFICATION AGREEMENT

 

This
Director and Officer Indemnification Agreement, dated as of ______ XX, 20XX and effective as of ______ XX, 20XX (this “Agreement”),
is made by and between Sunworks, Inc., a Delaware corporation (the “Company”), and _________ (the “Indemnitee”).

 

RECITALS:

 

A.
Section 141 of the Delaware General Corporation Law provides that the business and affairs of a corporation shall be managed by
or under the direction of its board of directors.

 

B.
By virtue of the managerial prerogatives vested in the directors and officers of a Delaware corporation, directors and officers
act as fiduciaries of the corporation and its stockholders.

 

C.
Thus, it is critically important to the Company and its stockholders that the Company be able to attract and retain the most capable
persons reasonably available to serve as directors and officers of the Company.

 

D.
In recognition of the need for corporations to be able to induce capable and responsible persons to accept positions in corporate
management, Delaware law authorizes (and in some instances requires) corporations to indemnify their directors and officers, and
further authorizes corporations to purchase and maintain insurance for the benefit of their directors and officers.

 

E.
The Delaware courts have recognized that indemnification by a corporation serves the dual policies of (1) allowing corporate officials
to resist unjustified lawsuits, secure in the knowledge that, if vindicated, the corporation will bear the expense of litigation,
and (2) encouraging capable women and men to serve as corporate directors and officers, secure in the knowledge that the corporation
will absorb the costs of defending their honesty and integrity.

 

F.
The number of lawsuits challenging the judgment and actions of directors and officers of Delaware corporations, the costs of defending
those lawsuits and the threat to personal assets have all materially increased over the past several years, chilling the willingness
of capable women and men to undertake the responsibilities imposed on corporate directors and officers.

 

G.
Recent federal legislation and rules adopted by the Securities and Exchange Commission and the national securities exchanges have
exposed such directors and officers to new and substantially broadened civil liabilities.

 

H.
Under Delaware law, a director’s or officer’s right to be reimbursed for the costs of defense of criminal actions,
whether such claims are asserted under state or federal law, does not depend upon the merits of the claims asserted against the
director or officer and is separate and distinct from any right to indemnification the director may be able to establish.

 

I.
Indemnitee is, or will be, a director and/or officer of the Company and his or her willingness to serve in such capacity is predicated,
in substantial part, upon the Company’s willingness to indemnify him or her in accordance with the principles reflected
above, to the fullest extent permitted by the laws of the State of Delaware, and upon the other undertakings set forth in this
Agreement.

 

J.
Therefore, in recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to
procure Indemnitee’s continued service as a director and/or officer of the Company and to enhance Indemnitee’s ability
to serve the Company in an effective manner, and in order to provide such protection pursuant to express contract rights (intended
to be enforceable irrespective of, among other things, any amendment to the Company’s certificate of incorporation or bylaws
(collectively, the “Constituent Documents”), any change in the composition of the Company’s Board
of Directors (the “Board”) or any change-in-control or business combination transaction relating to
the Company), the Company wishes to provide in this Agreement for the indemnification and advancement of Expenses to Indemnitee
on the terms, and subject to the conditions, set forth in this Agreement.

 

    	 	1	 

    	 

    

 

K.
In light of the considerations referred to in the preceding recitals, it is the Company’s intention and desire that the
provisions of this Agreement be construed liberally, subject to their express terms, to maximize the protections to be provided
to Indemnitee hereunder.

 

AGREEMENT:

 

NOW,
THEREFORE, the parties hereby agree as follows:

 

1.
Certain Definitions. In addition to terms defined elsewhere herein, the following terms have the following meanings when
used in this Agreement with initial capital letters:

 

“Change
in Control” shall have occurred at such time, if any, as Incumbent Directors cease for any reason to constitute
a majority of Directors. For purposes of this Section 1(a), “Incumbent Directors” means the individuals
who, as of the date hereof, are Directors of the Company and any individual becoming a Director subsequent to the date hereof
whose election, nomination for election by the Company’s stockholders, or appointment, was approved by a vote of at least
a majority of the then Incumbent Directors (either by a specific vote or by approval of the proxy statement of the Company in
which such person is named as a nominee for director, without objection to such nomination); provided, however, that an
individual shall not be an Incumbent Director if such individual’s election or appointment to the Board occurs as a result
of an actual or threatened election contest (as described in Rule 14a-12(c) of the Securities Exchange Act of 1934, as amended)
with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on
behalf of a Person other than the Board.

 

“Claim”
means (i) any threatened, asserted, pending or completed claim, demand, action, suit or proceeding, whether civil, criminal,
administrative, arbitrative, investigative or other, and whether made pursuant to federal, state or other law; and (ii) any inquiry
or investigation, whether made, instituted or conducted by the Company or any other Person, including, without limitation, any
federal, state or other governmental entity, that Indemnitee reasonably determines might lead to the institution of any such claim,
demand, action, suit or proceeding. For the avoidance of doubt, the Company intends indemnity to be provided hereunder in respect
of acts or failure to act prior to, on or after the date hereof.

 

“Controlled
Affiliate” means any corporation, limited liability company, partnership, joint venture, trust or other entity or
enterprise, whether or not for profit, that is directly or indirectly controlled by the Company. For purposes of this definition,
“control” means the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of an entity or enterprise, whether through the ownership of voting securities, through other voting
rights, by contract or otherwise; provided that direct or indirect beneficial ownership of capital stock or other interests
in an entity or enterprise entitling the holder to cast 15% or more of the total number of votes generally entitled to be cast
in the election of directors (or persons performing comparable functions) of such entity or enterprise shall be deemed to constitute
control for purposes of this definition.

 

“Disinterested
Director” means a director of the Company who is not and was not a party to the Claim in respect of which indemnification
is sought by Indemnitee.

 

“Expenses”
means attorneys’ and experts’ fees and expenses and all other costs and expenses paid or payable in connection
with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend,
be a witness in or participate in (including on appeal), any Claim.

 

    	 	2	 

    	 

    

 

“Indemnifiable
Claim” means any Claim based upon, arising out of or resulting from (i) any actual, alleged or suspected act or
failure to act by Indemnitee in his or her capacity as a director, officer, employee or agent of the Company or as a director,
officer, employee, member, manager, trustee or agent of any other corporation, limited liability company, partnership, joint venture,
trust or other entity or enterprise, whether or not for profit, as to which Indemnitee is or was serving at the request of the
Company, (ii) any actual, alleged or suspected act or failure to act by Indemnitee in respect of any business, transaction, communication,
filing, disclosure or other activity of the Company or any other entity or enterprise referred to in clause (i) of this sentence,
or (iii) Indemnitee’s status as a current or former director, officer, employee or agent of the Company or as a current
or former director, officer, employee, member, manager, trustee or agent of the Company or any other entity or enterprise referred
to in clause (i) of this sentence or any actual, alleged or suspected act or failure to act by Indemnitee in connection with any
obligation or restriction imposed upon Indemnitee by reason of such status. In addition to any service at the actual request of
the Company, for purposes of this Agreement, Indemnitee shall be deemed to be serving or to have served at the request of the
Company as a director, officer, employee, member, manager, trustee or agent of another entity or enterprise if Indemnitee is or
was serving as a director, officer, employee, member, manager, agent, trustee or other fiduciary of such entity or enterprise
and (i) such entity or enterprise is or at the time of such service was a Controlled Affiliate, (ii) such entity or enterprise
is or at the time of such service was an employee benefit plan (or related trust) sponsored or maintained by the Company or a
Controlled Affiliate, or (iii) the Company or a Controlled Affiliate (by action of the Board, any committee thereof or the Company’s
Chief Executive Officer (“CEO”) (other than as the CEO him or herself)) caused or authorized Indemnitee to be nominated,
elected, appointed, designated, employed, engaged or selected to serve in such capacity.

 

“Indemnifiable
Losses” means any and all Losses relating to, arising out of or resulting from any Indemnifiable Claim; provided,
however, that Indemnifiable Losses shall not include Losses incurred by Indemnitee in respect of any Indemnifiable Claim (or
any matter or issue therein) as to which Indemnitee shall have been adjudged liable to the Company, unless and only to the extent
that the Delaware Court of Chancery or the court in which such Indemnifiable Claim was brought shall have determined upon application
that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably
entitled to indemnification for such Expenses as the court shall deem proper.

 

“Independent
Counsel” means a nationally recognized law firm, or a member of a nationally recognized law firm, that is experienced
in matters of Delaware corporate law and neither presently is, nor in the past five years has been, retained to represent: (i)
the Company (or any subsidiary) or Indemnitee in any matter material to either such party (other than with respect to matters
concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements) or (ii) any
other named (or, as to a threatened matter, reasonably likely to be named) party to the Indemnifiable Claim giving rise to a claim
for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any
person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

“Losses”
means any and all Expenses, damages, losses, liabilities, judgments, fines, penalties (whether civil, criminal or other)
and amounts paid or payable in settlement, including, without limitation, all interest, assessments and other charges paid or
payable in connection with or in respect of any of the foregoing.

 

    	 	3	 

    	 

    

 

“Person”
means any individual, entity or group, within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act
of 1934, as amended.

 

“Standard
of Conduct” means the standard for conduct by Indemnitee that is a condition precedent to indemnification of Indemnitee
hereunder against Indemnifiable Losses relating to, arising out of or resulting from an Indemnifiable Claim. The Standard of Conduct
is (i) good faith and a reasonable belief by Indemnitee that his action was in or not opposed to the best interests of the Company
and, with respect to any criminal action or proceeding, that Indemnitee had no reasonable cause to believe that his conduct was
unlawful, or (ii) any other applicable standard of conduct that may hereafter be substituted under Section 145(a) or (b) of the
Delaware General Corporation Law or any successor to such provision(s).

 

2.
Indemnification Obligation. Subject only to Section 7 and to the proviso in this Section, the Company shall indemnify,
defend and hold harmless Indemnitee, to the fullest extent permitted or required by the laws of the State of Delaware in effect
on the date hereof or as such laws may from time to time hereafter be amended to increase the scope of such permitted indemnification,
against any and all Indemnifiable Claims and Indemnifiable Losses; provided, however, that, except as provided in Section
5, Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with (i) any Claim initiated by
Indemnitee against the Company or any director or officer of the Company unless the Company has joined in or consented to the
initiation of such Claim, or (ii) the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Securities
Exchange Act of 1934, as amended. The Company acknowledges that the foregoing obligation may be broader than that now provided
by applicable law and the Company’s Constituent Documents and intends that it be interpreted consistently with this Section
and the recitals to this Agreement.

 

3.
Advancement of Expenses. Indemnitee shall have the right to advancement by the Company prior to the final disposition of
any Indemnifiable Claim of any and all actual and reasonable Expenses relating to, arising out of or resulting from any Indemnifiable
Claim paid or incurred by Indemnitee. Without limiting the generality or effect of any other provision hereof, Indemnitee’s
right to such advancement is not subject to the satisfaction of any Standard of Conduct. Without limiting the generality or effect
of the foregoing, within five business days after any request by Indemnitee that is accompanied by supporting documentation for
specific reasonable Expenses to be reimbursed or advanced, the Company shall, in accordance with such request (but without duplication),
(a) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or
(c) reimburse Indemnitee for such Expenses; provided that Indemnitee shall repay, without interest, any amounts actually
advanced to Indemnitee that, at the final disposition of the Indemnifiable Claim to which the advance related, were in excess
of amounts paid or payable by Indemnitee in respect of Expenses relating to, arising out of or resulting from such Indemnifiable
Claim. In connection with any such payment, advancement or reimbursement, at the request of the Company, Indemnitee shall execute
and deliver to the Company an undertaking, which need not be secured and shall be accepted without reference to Indemnitee’s
ability to repay the Expenses, by or on behalf of the Indemnitee, to repay any amounts paid, advanced or reimbursed by the Company
in respect of Expenses relating to, arising out of or resulting from any Indemnifiable Claim in respect of which it shall have
been determined, following the final disposition of such Indemnifiable Claim and in accordance with Section 7, that Indemnitee
is not entitled to indemnification hereunder.

 

    	 	4	 

    	 

    

 

4.
Indemnification for Additional Expenses. Without limiting the generality or effect of the foregoing, the Company shall
indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance to
Indemnitee, within five business days of such request accompanied by supporting documentation for specific Expenses to be reimbursed
or advanced, any and all actual and reasonable Expenses paid or incurred by Indemnitee in connection with any Claim made, instituted
or conducted by Indemnitee for (a) indemnification or reimbursement or advance payment of Expenses by the Company under any provision
of this Agreement, or under any other agreement or provision of the Constituent Documents now or hereafter in effect relating
to Indemnifiable Claims, and/or (b) recovery under any directors’ and officers’ liability insurance policies maintained
by the Company; provided, however, if it is ultimately determined that the Indemnitee is not entitled to such indemnification,
reimbursement, advance or insurance recovery, as the case may be, then the Indemnitee shall be obligated to repay any such Expenses
to the Company; provided further, that, regardless in each case of whether Indemnitee ultimately is determined to be entitled
to such indemnification, reimbursement, advance or insurance recovery, as the case may be, Indemnitee shall return, without interest,
any such advance of Expenses (or portion thereof) which remains unspent at the final disposition of the Claim to which the advance
related.

 

5.
Partial Indemnity. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for
some or a portion of any Indemnifiable Loss but not for all of the total amount thereof, the Company shall nevertheless indemnify
Indemnitee for the portion thereof to which Indemnitee is entitled.

 

6.
Procedure for Notification. To obtain indemnification under this Agreement in respect of an Indemnifiable Claim or Indemnifiable
Loss, Indemnitee shall submit to the Company a written request therefore, including a brief description (based upon information
then available to Indemnitee) of such Indemnifiable Claim or Indemnifiable Loss. If, at the time of the receipt of such request,
the Company has directors’ and officers’ liability insurance in effect under which coverage for such Indemnifiable
Claim or Indemnifiable Loss is potentially available, the Company shall give prompt written notice of such Indemnifiable Claim
or Indemnifiable Loss to the applicable insurers in accordance with the procedures set forth in the applicable policies. The Company
shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all Indemnifiable
Claims and Indemnifiable Losses in accordance with the terms of such policies. The Company shall provide to Indemnitee a copy
of such notice delivered to the applicable insurers, substantially concurrently with the delivery thereof by the Company. The
failure by Indemnitee to timely notify the Company of any Indemnifiable Claim or Indemnifiable Loss shall not relieve the Company
from any liability hereunder unless, and only to the extent that, the Company did not otherwise learn of such Indemnifiable Claim
or Indemnifiable Loss and to the extent that such failure results in forfeiture by the Company of substantial defenses, rights
or insurance coverage.

 

7.
Determination of Right to Indemnification.

 

(a)
To the extent that Indemnitee shall have been successful on the merits or otherwise in defense of any Indemnifiable Claim or any
portion thereof or in defense of any issue or matter therein, including, without limitation, dismissal without prejudice, Indemnitee
shall be indemnified against all Indemnifiable Losses relating to, arising out of or resulting from such Indemnifiable Claim in
accordance with Section 2 and no Standard of Conduct Determination (as defined in Section 7(b)) shall be required.

 

(b)
To the extent that the provisions of Section 7(a) are inapplicable to an Indemnifiable Claim that shall have been finally disposed
of, any determination of whether Indemnitee has satisfied the applicable Standard of Conduct (a “Standard of Conduct
Determination”) shall be made as follows: (i) if a Change in Control shall not have occurred, or if a Change in
Control shall have occurred but Indemnitee shall have requested that the Standard of Conduct Determination be made pursuant to
this clause (i), (A) by a majority vote of the Disinterested Directors, even if less than a quorum of the Board, (B) if such Disinterested
Directors so direct, by a majority vote of a committee of Disinterested Directors designated by a majority vote of all Disinterested
Directors, or (C) if there are no such Disinterested Directors, or if a majority of the Disinterested Directors so direct, by
Independent Counsel in a written opinion addressed to the Board, a copy of which shall be delivered to Indemnitee; and (ii) if
a Change in Control shall have occurred and Indemnitee shall not have requested that the Standard of Conduct Determination be
made pursuant to clause (i) above, by Independent Counsel in a written opinion addressed to the Board, a copy of which shall be
delivered to Indemnitee.

 

    	 	5	 

    	 

    

 

(c)
If (i) Indemnitee shall be entitled to indemnification hereunder against any Indemnifiable Losses pursuant to Section 7(a), (ii)
no determination of whether Indemnitee has satisfied any applicable standard of conduct under Delaware law is a legally required
condition precedent to indemnification of Indemnitee hereunder against any Indemnifiable Losses, or (iii) Indemnitee has been
determined or deemed pursuant to Section 7(b) to have satisfied the applicable Standard of Conduct, then the Company shall pay
to Indemnitee, within five business days after the later of (x) the Notification Date in respect of the Indemnifiable Claim or
portion thereof to which such Indemnifiable Losses are related, out of which such Indemnifiable Losses arose or from which such
Indemnifiable Losses resulted, and (y) the earliest date on which the applicable criterion specified in clause (i), (ii) or (iii)
above shall have been satisfied, an amount equal to the amount of such Indemnifiable Losses. Nothing herein is intended to mean
or imply that the Company is intending to use Section 145(f) of the Delaware General Corporation Law to dispense with a requirement
that Indemnitee meet the applicable Standard of Conduct where it is otherwise required by such statute.

 

(d)
If a Standard of Conduct Determination is required to be, but has not been, made by Independent Counsel pursuant to Section 7(b)(i),
the Independent Counsel shall be selected by the Board or a committee of the Board, and the Company shall give written notice
to Indemnitee advising him or her of the identity of the Independent Counsel so selected. If a Standard of Conduct Determination
is required to be, or to have been, made by Independent Counsel pursuant to Section 7(b)(ii), the Independent Counsel shall be
selected by Indemnitee, and Indemnitee shall give written notice to the Company advising it of the identity of the Independent
Counsel so selected. In either case, Indemnitee or the Company, as applicable, may, within five business days after receiving
written notice of selection from the other, deliver to the other a written objection to such selection; provided, however,
that such objection may be asserted only on the ground that the Independent Counsel so selected does not satisfy the criteria
set forth in the definition of “Independent Counsel” in Section 1(h), and the objection shall set forth with particularity
the factual basis of such assertion. Absent a proper and timely objection, the Person so selected shall act as Independent Counsel.
If such written objection is properly and timely made and substantiated, (i) the Independent Counsel so selected may not serve
as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit
and (ii) the non-objecting party may, at its option, select an alternative Independent Counsel and give written notice to the
other party advising such other party of the identity of the alternative Independent Counsel so selected, in which case the provisions
of the two immediately preceding sentences and clause (i) of this sentence shall apply to such subsequent selection and notice.
If applicable, the provisions of clause (ii) of the immediately preceding sentence shall apply to successive alternative selections.
If no Independent Counsel that is permitted under the foregoing provisions of this Section 7(d) to make the Standard of Conduct
Determination shall have been selected within 30 calendar days after the Company gives its initial notice pursuant to the first
sentence of this Section 7(d) or Indemnitee gives its initial notice pursuant to the second sentence of this Section 7(d), as
the case may be, either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware for resolution of
any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or
for the appointment as Independent Counsel of a person or firm selected by the Court or by such other person as the Court shall
designate, and the person or firm with respect to whom all objections are so resolved or the person or firm so appointed will
act as Independent Counsel. In all events, the Company shall pay all of the actual and reasonable fees and expenses of the Independent
Counsel incurred in connection with the Independent Counsel’s determination pursuant to Section 7(b).

 

    	 	6	 

    	 

    

 

8.
Cooperation. Indemnitee shall cooperate with reasonable requests of the Company in connection with any Indemnifiable Claim
and any individual or firm making such Standard of Conduct Determination, including providing to such Person documentation or
information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary to defend the Indemnifiable Claim or make any Standard of Conduct Determination without incurring any unreimbursed
cost in connection therewith. The Company shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee,
shall reimburse Indemnitee for, or advance to Indemnitee, within five business days of such request accompanied by supporting
documentation for specific costs and expenses to be reimbursed or advanced, any and all costs and expenses (including attorneys’
and experts’ fees and expenses) actually and reasonably incurred by Indemnitee in so cooperating with the Person defending
the Indemnifiable Claim or making such Standard of Conduct Determination.

 

9.
Presumption of Entitlement. Notwithstanding any other provision hereof, in making any Standard of Conduct Determination,
the Person making such determination shall presume that Indemnitee has satisfied the applicable Standard of Conduct.

 

10.
No Other Presumption. For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether
with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, will not create a presumption
that Indemnitee did not meet any applicable Standard of Conduct or that indemnification hereunder is otherwise not permitted.

 

11.
Non-Exclusivity. The rights of Indemnitee hereunder will be in addition to any other rights Indemnitee may have under the
Constituent Documents, or the substantive laws of the Company’s jurisdiction of incorporation, any other contract or otherwise
(collectively, “Other Indemnity Provisions”); provided, however, that (a) to the extent that
Indemnitee otherwise would have any greater right to indemnification under any Other Indemnity Provision, Indemnitee will without
further action be deemed to have such greater right hereunder, and (b) to the extent that any change is made to any Other Indemnity
Provision which permits any greater right to indemnification than that provided under this Agreement as of the date hereof, Indemnitee
will be deemed to have such greater right hereunder. The Company may not, without the consent of Indemnitee, adopt any amendment
to any of the Constituent Documents the effect of which would be to deny, diminish or encumber Indemnitee’s right to indemnification
under this Agreement.

 

12.
Liability Insurance and Funding. For the duration of Indemnitee’s service as a director and/or officer of the Company
and for a reasonable period of time thereafter, which such period shall be determined by the Company in its sole discretion, the
Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to
the cost thereof) to cause to be maintained in effect policies of directors’ and officers’ liability insurance providing
coverage for directors and/or officers of the Company, and, if applicable, that is substantially comparable in scope and amount
to that provided by the Company’s current policies of directors’ and officers’ liability insurance. Upon reasonable
request, the Company shall provide Indemnitee or his or her counsel with a copy of all directors’ and officers’ liability
insurance applications, binders, policies, declarations, endorsements and other related materials. In all policies of directors’
and officers’ liability insurance obtained by the Company, Indemnitee shall be named as an insured in such a manner as to
provide Indemnitee the same rights and benefits, subject to the same limitations, as are accorded to the Company’s directors
and officers most favorably insured by such policy. Notwithstanding the foregoing, (i) the Company may, but shall not be required
to, create a trust fund, grant a security interest or use other means, including, without limitation, a letter of credit, to ensure
the payment of such amounts as may be necessary to satisfy its obligations to indemnify and advance expenses pursuant to this
Agreement and (ii) in renewing or seeking to renew any insurance hereunder, the Company will not be required to expend more than
2.0 times the premium amount of the immediately preceding policy period (equitably adjusted if necessary to reflect differences
in policy periods).

 

    	 	7	 

    	 

    

 

13.
Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment
to all of the related rights of recovery of Indemnitee against other Persons (other than Indemnitee’s successors), including
any entity or enterprise referred to in clause (i) of the definition of “Indemnifiable Claim” in Section 1(f). Indemnitee
shall execute all papers reasonably required to evidence such rights (all of Indemnitee’s reasonable Expenses, including
attorneys’ fees and charges, related thereto to be reimbursed by or, at the option of Indemnitee, advanced by the Company).

 

14.
No Duplication of Payments. The Company shall not be liable under this Agreement to make any payment to Indemnitee in respect
of any Indemnifiable Losses to the extent Indemnitee has otherwise already actually received payment (net of Expenses incurred
in connection therewith) under any insurance policy, the Constituent Documents and Other Indemnity Provisions or otherwise (including
from any entity or enterprise referred to in clause (i) of the definition of “Indemnifiable Claim” in Section 1(f))
in respect of such Indemnifiable Losses otherwise indemnifiable hereunder.

 

15.
Defense of Claims. Subject to the provisions of applicable policies of directors’ and officers’ liability insurance,
if any, the Company shall be entitled to participate in the defense of any Indemnifiable Claim or to assume or lead the defense
thereof with counsel reasonably satisfactory to the Indemnitee; provided that if Indemnitee determines, after consultation
with counsel selected by Indemnitee, that (a) the use of counsel chosen by the Company to represent Indemnitee would present such
counsel with an actual or potential conflict, (b) the named parties in any such Indemnifiable Claim (including any impleaded parties)
include both the Company and Indemnitee and Indemnitee shall conclude that there may be one or more legal defenses available to
him or her that are different from or in addition to those available to the Company, (c) any such representation by such counsel
would be precluded under the applicable standards of professional conduct then prevailing, or (d) Indemnitee has interests in
the claim or underlying subject matter that are different from or in addition to those of other Persons against whom the Claim
has been made or might reasonably be expected to be made, then Indemnitee shall be entitled to retain separate counsel (but not
more than one law firm plus, if applicable, local counsel in respect of any particular Indemnifiable Claim for all indemnitees
in Indemnitee’s circumstances) at the Company’s expense. The Company shall not be liable to Indemnitee under this
Agreement for any amounts paid in settlement of any threatened or pending Indemnifiable Claim effected without the Company’s
prior written consent. The Company shall not, without the prior written consent of the Indemnitee, effect any settlement of any
threatened or pending Indemnifiable Claim which the Indemnitee is or could have been a party unless such settlement solely involves
the payment of money and includes a complete and unconditional release of the Indemnitee from all liability on any claims that
are the subject matter of such Indemnifiable Claim. Neither the Company nor Indemnitee shall unreasonably withhold its consent
to any proposed settlement; provided that Indemnitee may withhold consent to any settlement that does not provide a complete
and unconditional release of Indemnitee.

 

16.
Mutual Acknowledgment. Both the Company and the Indemnitee acknowledge that in certain instances, Federal law or applicable
public policy may prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise. Indemnitee
understands and acknowledges that the Company may be required in the future to undertake to the Securities and Exchange Commission
to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s right
under public policy to indemnify Indemnitee and, in that event, the Indemnitee’s rights and the Company’s obligations
hereunder shall be subject to that determination.

 

17.
Successors and Binding Agreement.

 

(a)
This Agreement shall be binding upon and inure to the benefit of the Company and any successor to the Company, including, without
limitation, any Person acquiring directly or indirectly all or substantially all of the business or assets of the Company whether
by purchase, merger, consolidation, reorganization or otherwise (and such successor will thereafter be deemed the “Company”
for purposes of this Agreement), but shall not otherwise be assignable or delegatable by the Company.

 

    	 	8	 

    	 

    

 

(b)
This Agreement shall inure to the benefit of and be enforceable by the Indemnitee’s personal or legal representatives, executors,
administrators, heirs, distributees, legatees and other successors.

 

(c)
This Agreement is personal in nature and neither of the parties hereto shall, without the consent of the other, assign or delegate
this Agreement or any rights or obligations hereunder except as expressly provided in Sections 17(a) and 17(b). Without limiting
the generality or effect of the foregoing, Indemnitee’s right to receive payments hereunder shall not be assignable, whether
by pledge, creation of a security interest or otherwise, other than by a transfer by the Indemnitee’s will or by the laws
of descent and distribution, and, in the event of any attempted assignment or transfer contrary to this Section 17(c), the Company
shall have no liability to pay any amount so attempted to be assigned or transferred.

 

18.
Notices. For all purposes of this Agreement, all communications, including without limitation notices, consents, requests
or approvals, required or permitted to be given hereunder must be in writing and shall be deemed to have been duly given when
hand delivered or dispatched by electronic facsimile transmission (with receipt thereof orally confirmed), or one business day
after having been sent for next-day delivery by a nationally recognized overnight courier service, addressed to the Company (to
the attention of the Secretary of the Company) and to Indemnitee at the applicable address shown on the signature page hereto,
or to such other address as any party may have furnished to the other in writing and in accordance herewith, except that notices
of changes of address will be effective only upon receipt.

 

19.
Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by and construed
in accordance with the substantive laws of the State of Delaware, without giving effect to the principles of conflict of laws
of such State. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the Chancery Court of the State
of Delaware for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement, waive
all procedural objections to suit in that jurisdiction, including, without limitation, objections as to venue or inconvenience,
agree that service in any such action may be made by notice given in accordance with Section 18 and also agree that any action
instituted under this Agreement shall be brought only in the Chancery Court of the State of Delaware.

 

20.
Validity. If any provision of this Agreement or the application of any provision hereof to any Person or circumstance is
held invalid, unenforceable or otherwise illegal, the remainder of this Agreement and the application of such provision to any
other Person or circumstance shall not be affected, and the provision so held to be invalid, unenforceable or otherwise illegal
shall be reformed to the extent, and only to the extent, necessary to make it enforceable, valid or legal. In the event that any
court or other adjudicative body shall decline to reform any provision of this Agreement held to be invalid, unenforceable or
otherwise illegal as contemplated by the immediately preceding sentence, the parties thereto shall take all such action as may
be necessary or appropriate to replace the provision so held to be invalid, unenforceable or otherwise illegal with one or more
alternative provisions that effectuate the purpose and intent of the original provisions of this Agreement as fully as possible
without being invalid, unenforceable or otherwise illegal.

 

21.
Miscellaneous. No provision of this Agreement may be waived, modified or discharged unless such waiver, modification or
discharge is agreed to in writing signed by Indemnitee and the Company. No waiver by either party hereto at any time of any breach
by the other party hereto or compliance with any condition or provision of this Agreement to be performed by such other party
shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No
agreements or representations, oral or otherwise, expressed or implied with respect to the subject matter hereof have been made
by either party that are not set forth expressly in this Agreement.

 

    	 	9	 

    	 

    

 

22.
Certain Interpretive Matters. Unless the context of this Agreement otherwise requires, (1) “it” or “its”
or words of any gender include each other gender, (2) words using the singular or plural number also include the plural or singular
number, respectively, (3) the terms “hereof,” “herein,” “hereby” and derivative or similar
words refer to this entire Agreement, (4) the terms “Article,” “Section,” “Annex” or “Exhibit”
refer to the specified Article, Section, Annex or Exhibit of or to this Agreement, (5) the terms “include,” “includes”
and “including” will be deemed to be followed by the words “without limitation” (whether or not so expressed),
and (6) the word “or” is disjunctive but not exclusive. Whenever this Agreement refers to a number of days, such number
will refer to calendar days unless business days are specified and whenever action must be taken (including the giving of notice
or the delivery of documents) under this Agreement during a certain period of time or by a particular date that ends or occurs
on a non-business day, then such period or date will be extended until the immediately following business day. As used herein,
“business day” means any day other than Saturday, Sunday or a United States federal holiday.

 

23.
Entire Agreement. This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings,
both written and oral, between the parties hereto with respect to the subject matter of this Agreement. Any prior agreements or
understandings between the parties hereto with respect to indemnification are hereby terminated and of no further force or effect.
This Agreement is not the exclusive means of securing indemnification rights of Indemnitee and is in addition to any rights Indemnitee
may have under any Constituent Documents.

 

24.
Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original
but all of which together shall constitute one and the same agreement.

 

[REMAINDER
OF PAGE INTENTIONALLY BLANK]

 

    	 	10	 

    	 

    

 

IN
WITNESS WHEREOF, Indemnitee has executed and the Company has caused its duly authorized representative to execute this Agreement
as of the date first above written.

 

	 	SUNWORKS,
    INC.
	 	 	 
	 	By	                                
	 	Name:
    	 
	 	Title:
    	 

 

	 	INDEMNITEE:
    
	 	 
	 	
	 	Name:
    

 

    	 	11

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