Document:

EX-10.29

 Exhibit 10.29 
  

					
	

	  	SUPPLY AGREEMENT XSENS / NEWAYS	  	

 Supply Agreement 

Between 
 XSENS 

referred to as “CUSTOMER” hereinafter 

represented by 
 Xsens
Technologies B.V. 
 Pantheon 6a 

7521 PR Enschede 
 The Netherlands

 and 
 Neways 

referred to as “SUPPLIER” hereinafter 

represented by 
 Neways
Advanced Applications B.V. 
 Science Park Eindhoven 5004 

5692 EA Son 
 The Netherlands 

					
	

	  	SUPPLY AGREEMENT XSENS / NEWAYS	  	

  

 CONTENTS: 

 

					
		 	 Preamble
	 	3
	 1.
	 	 Definitions
	 	3
	 2.
	 	 Basis of Agreement
	 	4
	 3.
	 	 Intention of Agreement
	 	5
	 4.
	 	 Duration of Agreement
	 	5
	 5.
	 	 Termination of Agreement
	 	5
	 6.
	 	 Financials of Agreement
	 	6
	 7.
	 	 Planning, Ordering and Delivery Procedure
	 	6
	 8.
	 	 Prices
	 	8
	 9.
	 	 Documentation and Equipment for Execution
	 	8
	 10.
	 	 Property rights of Drawings, Tools and Other Materials of “Customer
	 	10
	 11.
	 	 Non-disclosure
	 	10
	 12.
	 	 Exclusive Rights
	 	11
	 13.
	 	 Packaging and Transportation
	 	11
	 14.
	 	 Force Majeure
	 	11
	 15.
	 	 Change implementation
	 	12
	 16.
	 	 Test Equipment
	 	13
	 17.
	 	 Quality Assurance
	 	13
	 18.
	 	 Warranty
	 	14
	 19.
	 	 Reject Procedure
	 	15
	 20.
	 	 Delivery performance
	 	15
	 21.
	 	 Product Life cycle Management
	 	16
	 22.
	 	 Patents, Intellectual Property Rights and Product Liability
	 	17
	 23.
	 	 Indemnification
	 	18
	 24.
	 	 Transfer of Agreement
	 	19
	 25.
	 	 Breach of Agreement
	 	19
	 26.
	 	 Communication
	 	19
	 27.
	 	 Changes and Amendments to Agreement
	 	19
	 28.
	 	 Disputes
	 	19
	 29.
	 	 Insurance
	 	20
	 30.
	 	 Contingency Plan
	 	20
	 31.
	 	 Traceability Products
	 	21
	 32.
	 	 Confidentiality and Publications
	 	21
	 33.
	 	 Export Compliance
	 	21
	 34.
	 	 Final Agreements, Legal Domicile, Applicable Laws
	 	22
		
	  
 LIST OF ANNEXES:
	 	 
			
	 A.
	 	 Product List and Pricing
	 	
	 B.
	 	 Product Lead-times
	 	
	 C.
	 	 Forecasting and Planning Procedures
	 	
	 D.
	 	 Test Tooling
	 	
	 E.
	 	 “Reporting
	 	
	 F.
	 	 Ramp-up agreement
	 	
	 G.
	 	 Service + Repair agreement
	 	
	 H.
	 	 Contingency plan
	 	
	 I.
	 	 Communication structure
	 	

  

  

			
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	  	SUPPLY AGREEMENT XSENS / NEWAYS	  	

  

 Preamble 

The contract partners intend to enter a long-term business cooperation for the manufacturing and supply of the 3D motion trackers products. The relationship in
this business cooperation has been formulated in this Agreement and regulates the manufacture and delivery of electronic modules and products. 
 For the
benefit of both sides, the partners will strive to achieve a high quality standard, optimize the production costs, assure the procurement of material, improve the demand planning, meet delivery schedules, minimize the order handling procedures. 

 

	1.	 Definitions 

  

	1.1	 Agreement shall mean this document and all exhibits, annexes and other documents referred to herein or
attached hereto and signed or initialled by the parties hereto all of which exhibits, annexes or other documents form an integral part hereof. 

  

	1.2	 Product(s) jointly and separately shall mean the Products (PCB Assemblies, PCA and modules), as further
specified in the Specifications ANNEX A, including any changes thereto, as well as such new printed circuit board assemblies, modules and systems as the parties may agree upon to include under this Agreement by way of amending ANNEX A.

  

	1.3	 Specifications shall mean the technical and functional specifications according to the parts list, Bill
of Material, mechanical drawings, test methods and equipment, safety and environmental regulations and other requirements of for the Products as detailed in ANNEX A, and such amendment thereto as the parties may agree upon from time to time in
writing. Any change of the Specifications has to be managed by the “CUSTOMER” internal change procedure. 

  

	1.4	 Lead-times shall mean the delivery time of the Products (in working days) as agreed upon and, attached
hereto as ANNEX B, after receipt of Purchase Order. 

  

	1.5	 Purchase Order shall mean the purchase order for Products placed by “CUSTOMER”

  

	1.6	 Obsolete Components shall mean components used in Products, of which production has been discontinued by
a component manufacturer and have led to a last-time-buy. 

  

	1.7	 Announcement Obsolete Components shall mean a written notice from “SUPPLIER” to
“CUSTOMER” containing information on the discontinuance of a component by a component manufacturer. 

  

	1.8	 End of Life declared product shall mean a written notice from “CUSTOMER” to
“SUPPLIER” containing information about the discontinuance of a product and the effective date. 

  

	1.9	 Customer Specific Components shall mean components of which the specifications are owned by
“CUSTOMER” and of for which “CUSTOMER” is responsible for the relevant Purchasing information (such as price, lead-time, ordering quantity and life cycle commitment). 

 

	1.10	 Long lead-time Components shall mean components, which have a lead-time of more than three
(3) calendar months. 

  

	1.11	 Customer Components shall mean components of which “SUPPLIER” with exception of timing has no
procurement responsibility and which need to be supplied to “SUPPLIER” by “CUSTOMER”. 

  

	1.12	 Substitute Components or Alternative Components shall mean components which have the same form,
fit and function as the components originally used. 

  

			
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	  	SUPPLY AGREEMENT XSENS / NEWAYS	  	

  

	1.13	 Change Request (CR) shall mean, a document written and signed by “CUSTOMER” and/or
“SUPPLIER” respectively written and signed document as sent to “SUPPLIER” or “CUSTOMER” respectively and/or “SUPPLIER”, specifying the a proposed Change in the Product Specifications. 

 

	1.14	 Tooling costs shall mean initial costs involved in the manufacturing of Products among others test
fixtures/software, tooling, test equipment, soldering screens, carriers. Normal wear and tear of any such equipment, etc. are is incorporated in the product cost price. 

 

	1.15	 Epidemic faults shall mean faults which appear in more than five percent (5%) or ten (10) Products,
whichever is greater, of the delivered batch quantity of the relevant order and which original cause is the same or which have the same cause. For example among others faults caused by manufacturing, programming and/or components.

  

	1.16	 Return Merchandise Authorisation (RMA) shall mean the system by which products can be returned for
repair or replacement by “CUSTOMER” to “SUPPLIER”. 

  

	1.17	 Module means a single printed circuit board sub-assembly.

  

	1.18	 System means an assembly of different modules. 

 

	1.19	 Technical Product Documentation (TPD) means the complete documentation by which a product has been
described by the IP owner and is manufactured and tested by a supplier. 

  

	1.20	 Configuration Management (CM) means establishing, maintaining and securing the integrity of the
products throughout the product life cycle. 

  

	1.21	 Average Purchase Price (GIP) means the average purchase price of the components which are in stock,
delivered in different batches. 

  

	1.22	 3rd party means all other, not affiliated, companies 

 

	1.23	 Affiliated Companies means, in relation to a company, a company which controls that company, or is
controlled by that company or by a company which controls that company, and for these purposes a company controls another company if it can — 

  

	 	i)	 exercise a majority of the votes attached to the shares in the other company; or 

 

	 	ii)	 appoint or remove a majority of the board of directors of the other company, or if it can do so indirectly
through one or more other companies. 

  

	2.	 Basis of Agreement 

 

	2.1	 The Agreement is based on the following starting points: 

 

	 	2.1.1	 the documents of the products provided by the “CUSTOMER” 

 

	 	2.1.2	 the quotations made by “SUPPLIER” 

 

	 	2.1.3	 the mutual agreed prices after finalisation of negotiations and effectuated in ANNEX A 

 

	 	2.1.4	 the orders placed by the “CUSTOMER” 

 

	2.2	 The conditions of this overall Agreement apply to all orders that are handled between the contract parties,
unless mutually agreed otherwise. 

  

	2.3	 The Agreement is exclusively between “CUSTOMER” and named “SUPPLIER” location. If for
whatever reason “SUPPLIER” wants to move “CUSTOMER” main activities to an alternative “SUPPLIER” location, “CUSTOMER” will be informed at least 12 months prior to the event. Any moving plans will need to be
approved by “CUSTOMER” and any related costs will be accounted for by “SUPPLIER”, unless this is on request of “CUSTOMER”. 

  

			
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	  	SUPPLY AGREEMENT XSENS / NEWAYS	  	

  

	3.	 Intention of Agreement 

 

	3.1	 “CUSTOMER” herewith appoints “SUPPLIER” as its partner for the co-development, engineering, manufacturing, servicing and form fit function maintenance of the products specified in ANNEX A. 

 

	3.2	 “SUPPLIER” is committed to manufacture and supply electronic products which comply with the
specifications mentioned in the TPD which is either released or provided by “CUSTOMER”. 

  

	3.3	 “CUSTOMER” is committed to purchase products from “SUPPLIER” according to
specifications mentioned in the “CUSTOMER” provided documentation. 

  

	3.4	 Twice a year a review meeting will be held between “CUSTOMER” and “SUPPLIER” to evaluate
and improve product quality, production quality, and supply chain performance. Quarterly “CUSTOMER” and “SUPPLIER” shall discuss progress on these matters. Topics amongst others; long lead items, progress on projects, delivery
performance, first pass yield, guarantee issues. 

  

	4.	 Duration of Agreement 

 

	4.1	 This Agreement becomes effective after signing by both parties, and remains valid for an indefinite period of
time, until the expiry date after a notice for termination has become effective. 

  

	4.2	 Orders placed before a notice for termination of this Agreement comes into force, will be carried out according
to this Agreement, regardless of the contract termination. 

  

	4.3	 The right for termination for compelling reason remains unaffected. 

 

	5.	 Termination of Agreement 

 

	5.1	 Either Party is, at any time, entitled to terminate the Agreement. 

 

	5.2	 Termination of the Agreement is to be done in writing and becomes effective no earlier than twelve
(12) months after notice has been given, unless there is a breach of the Agreement, in which case the Agreement may be terminated immediately. 

  

	5.3	 In case of termination of this agreement both parties will cooperate to reach a smooth transition of the
production towards another manufacturer. 

  

	5.4	 A party is entitled to terminate the Agreement immediately if the other party: 

 

	 	i)	 Files for bankruptcy or 

 

	 	ii)	 Is declared bankrupt or 

 

	 	iii)	 Fails, or is unable to, or admits in writing its ability to, pay its debt, or 

 

	 	iv)	 ceases its business operations 

 

	 	v)	 becomes under another control structure 

 

	5.5	 If one party, after having been given notice and taken corrective measures, fails to meet the agreed
obligations under this Agreement within a period of three (3) months after having received the notice, the other party is entitled to terminate the Agreement immediately, with the exception when the cause originates from a Force Majeure.

  

	5.6	 Breach of the Agreement by either party can be seen as a compelling reason for immediate termination of this
Agreement as laid down under article25. 

  

	5.7	 In the case of a premature termination of this Agreement, “SUPPLIER” will supply and invoice
“CUSTOMER” with stock, and remaining outstanding obligations, of materials. Ownership of this material will transfer from “SUPPLIER” to “CUSTOMER” after payments of materials have been received by SUPPLIER”.

  

			
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	  	SUPPLY AGREEMENT XSENS / NEWAYS	  	

  

	5.8	 In case of termination of the agreement by “CUSTOMER”, the inventory of components specifically used
for production of “CUSTOMER” Products, which include obsolete components, are to be sold to “CUSTOMER” against the last negotiated and mutual agreed BOM purchase value with a logistical surcharge of 5%. 

 

	5.9	 In the event of an immediate termination of the agreement as a result of
non-performance of “SUPPLIER” to meet its obligations under this Agreement, the inventory of “CUSTOMER” specific components, are to be sold by “SUPPLIER” to “CUSTOMER”
against the last negotiated BOM purchase value without a logistical surcharge. The “CUSTOMER” may request “SUPPLIER” to supply a larger quantity of “CUSTOMER” specific components than the outstanding obligation of
“CUSTOMER”, with a maximum of a 12 months demand. To fulfil such a request, “SUPPLIER” may assist “CUSTOMER” by opening the direct communication channel with “SUPPLIER’s” vendor from which
“CUSTOMER” will be able to procure directly under the same conditions as “SUPPLIER” with the limitations as defined. 

  

	5.10	 In case of non-finished Products, these Products will be finished as
long as their quantities do not exceed the mutually agreed batch quantity as described in the ANNEX A. “CUSTOMER” shall Issue an Purchase Order for these
to-be-finished Products against the agreed Purchase price as laid down under ANNEX A. 

 

	5.11	 Upon termination of this Agreement by “CUSTOMER”, “CUSTOMER” shall procure redundant
components from “SUPPLIER” which has been procured according to the terms under this Agreement, no later than 10 working days after the termination becomes effective, unless otherwise agreed. “SUPPLIER” will supply
“CUSTOMER” within 10 working days after having received a notice of termination with a list of the inventory, incorporating the volume, specification and value of the materials. Within 5 working days after having received this inventory
list, “CUSTOMER” will provide a Purchase Order. In the case of “CUSTOMER”” fails to meet this requirement, “SUPPLIER” is entitled to send and invoice inventory accordingly to “CUSTOMER” within 15 working
days after the termination becomes effective. 

  

	5.12	 Upon termination of this Agreement, regardless of cause, all drawings, documents, tools, material or equipment
provided to “SUPPLIER” by “CUSTOMER”, as well as drawings, documents, tools, material, equipment or products produced by “SUPPLIER” for “CUSTOMER” and subsequently paid by “CUSTOMER”, shall be
returned to “CUSTOMER” within 5 working days after the termination becomes effective. 

  

	6.	 Financial terms of Agreement 

 

	6.1	 Invoicing shall take place after delivery of products and services. The invoice shall identify CUSTOMERS order
number and product number. 

  

	6.2	 Payment by “CUSTOMER” shall be made within thirty (30) days after invoicing date, provided that
the Products comply with the requirements according to this Agreement. 

  

	6.3	 In the case and “CUSTOMER” does not pay within mutually agreed due date “SUPPLIER” is
entitled to invoice interest costs due to the late payment according to law. 

  

	7.	 Planning, Order and Delivery Procedure 

 

	7.1	 As soon as this Agreement becomes effective, “CUSTOMER” will provide “SUPPLIER”, on a
monthly basis, with a rolling forecast of its estimated demand for Products for the coming period of twelve (12) months. 

  

			
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	7.2	 The forecast will be nonbinding, with the exception of the provisions as mutually agreed under article 7.9 for
“SUPPLIER” to meet its obligation under this Agreement and will include the demand planning and materials management for the coming 12 months. 

  

	7.3	 Demand planning, materials management, production and delivery will be executed according to the planning
procedure described in ANNEX C. This section details forecast procedures, planning rules, reorder points, call off moments etc. etc. 

  

	7.4	 “CUSTOMER” will provide “SUPPLIER” with Purchase Orders with mutually agreed minimal
lead-times to cover call off products and services. 

  

	7.5	 All Purchase Orders from “CUSTOMER” shall be submitted to the conditions of this Agreement, unless
mutually agreed otherwise. Neither parties General Terms and Conditions shall apply. 

  

	7.6	 Each Purchase Order shall specify the quantity, items, and requested delivery dates. Changes to particular
Purchase Orders conditions may be changed by “CUSTOMER” after consulting “SUPPLIER” and become effective after a written order confirmation by “SUPPLIER”. 

 

	7.7	 After having received a Purchase Order, “SUPPLIER” will respond to “CUSTOMER” within five
(5) working days, by either confirming or rejecting the Purchase Order. With any rejection of a Purchase Order, “SUPPLIER” will provide an alternative delivery date. 

 

	7.8	 In the event “SUPPLIER” cannot meet a confirmed delivery date, “SUPPLIER” shall promptly
notify “CUSTOMER” of “SUPPLIER’s” revised delivery date and “CUSTOMER” may, without limitation, charge “SUPPLIER” for the actual extra costs for expedited shipping, unless this is due to a Force Majeure.
These extra costs are limited to a maximum of the value of the Products to be shipped. “SUPPLIER” is entitled to determine the shipping method and expediting company with respect to the urgency of the required delivery date.

  

	7.9	 “CUSTOMER” will be liable for all “CUSTOMER” related inventory (components,
sub-assembly’s and final products), as long as they are positioned in accordance with agreed planning procedures as documented in ANNEX C, and other in writing approved inventory transactions (i.e. MOQ, LTB). Any inventory transactions not
approved and outside planning rules and loss/damage will be at the liability of the “SUPPLIER” 

  

	7.10	 Inventory Liability in accordance with section 7.9 will be calculated in EURO based on average purchase price
for components and based on ANNEX A agreed pricing for products. 

  

	7.11	 In the event that either, components, Products, bought or manufactured on behalf of “CUSTOMER”, did
not move at all over a period of one (1) year, these parts will move into “SUPPLIER’s” so called excess stock. Parts moving in excess stock will be communicated upfront and needs to get a written approval from
“CUSTOMER”. “CUSTOMER” will discuss with “SUPPLIER” whether these items, which become property of “CUSTOMER” after fulfilling its obligations, will be stored at, or removed from “SUPPLIER”
warehouses. On quarterly base the “SUPPLIER” will invoice the value of the parts moving in or/and out excess stock. “CUSTOMER” will pay “SUPPLIER” a quarterly fee for managing these materials when stored at
“SUPPLIER”. This fee is set to 4% of the value of this excess stock value. 

  

	7.12	 The ownership of Products and/or materials transfers from “SUPPLIER” to “CUSTOMER” after
shipment of goods, provided that “CUSTOMER” is given a sufficient credit limit by “SUPPLIER’s” credit insurer to cover outstanding liabilities. In the event that the credit insurer Atradius withdraws the credit limit on
“CUSTOMER” for “SUPPLIER”, the transfer of ownership of Products and/or materials shall with immediate effect change to the actual time payment has been received by “SUPPLIER” and until the expiry of the payment term,
“CUSTOMER” shall have user rights. “CUSTOMER” will be informed by “SUPPLIER” if the credit insurer Atradius withdraws the credit limit on “CUSTOMER”. 

  

			
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	  	SUPPLY AGREEMENT XSENS / NEWAYS	  	

  

	8.	 Prices 

  

	8.1	 “SUPPLIER” shall supply products to “CUSTOMER” at prices under conditions as laid down in
this Agreement and specified in ANNEX A. 

  

	8.2	 Prices are determined on the annual demand volume to be supplied and shall be fixed for a period of one
(1) year after finalising negotiations and will become effective by undersigning by both parties the new ANNEX A, with the exception of condition as laid down under article 7. 

 

	8.3	 If the total material cost of a product however varies more then plus or minus five (5) percent of the
current total material price, “SUPPLIER” and “CUSTOMER” are entitled to start intermediate negotiations to correct the price of the relevant Products accordingly in ANNEX A. 

 

	8.4	 “SUPPLIER” shall charge to “CUSTOMER” a repair price (to be defined), for any repair, (if
repairable) or replacement outside the standard warranty period unless otherwise agreed in writing between “CUSTOMER” and “SUPPLIER”. 

  

	8.5	 All prices and costs are fixed and shall be stated in EUR and be specified without VAT or other taxes, unless
otherwise specifically stated in this Agreement. 

  

	8.6	 At the time of finalising the price negotiations, prices of materials are based on the currency exchange rate
between USD and EUR. 

  

	8.7	 If during the validity period of prices, ordered quantities deviate from the order or any other essential
change of the economic prerequisites for the prices occurs, each Party is entitled to request a renegotiation of prices. If the order includes prices for Products where there are prices differentiated based upon quantity, “CUSTOMER” shall
in connection with signing the order indicate the expected annual volume and consequently that price shall be applicable. 

  

	8.8	 The product price is based upon an open COST PRICE calculation, consisting out of BOM Value and total added
Value Supplier. “SUPPLIER” shall disclose the BOM value in detail. Jointly “CUSTOMER” and “SUPPLIER” shall try to reduce the COST PRICE with a minimum target of 3% year on year on those direct activities which can be
influenced by “SUPPLIER”. A reduction in COST PRICE results in improvement of the “CUSTOMER” market position, hence in the long run it will improve the turnover for both parties. 

 

	8.9	 New product pricing negotiations shall commence at least two (2) months before the new price is to become
effective. 

  

	8.10	 When price negotiations referred to under this article extend beyond the price-validity period, the prices and
conditions valid for the previous period shall continue to remain in effect until such time as the parties have reached mutual agreement on the new prices, which will be laid down in a new ANNEX A. The new agreement will include the starting date
when the newly agreed price will become effective and any deliveries with price deviations may be corrected accordingly. 

  

	9.	 Documentation and Equipment for execution of Agreement 

 

	9.1	 For the execution of the contracted services, “CUSTOMER” will supply the necessary equipment and
documents to “SUPPLIER” minimal 4 weeks before the start of the lead-time for the ft delivery. 

 

	9.2	 The equipment and documents provided by “CUSTOMER” are the property of “CUSTOMER” and may
only be used by “SUPPLIER” for the purpose of implementing this Supply Agreement. The equipment and documents must be returned to “CUSTOMER” at any time, if so requested. 

  

			
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	9.3	 The “CUSTOMER” will supply “SUPPLIER”, minimal 4 weeks before the start of the lead-time
for the 1st delivery, with a Bill of Material containing the following information: 

  

	 	•	 	 Part number manufacturer 

 

	 	•	 	 Manufacturer & Vendor 

 

	 	•	 	 PCB data 

  

	 	•	 	 Mechanical and or cable drawings 

 

	 	•	 	 Quantity parts required in each product 

 

	 	•	 	 Documentation in relation to assembly, test, packaging if applicable 

In the case of Product Specific parts, in which “CUSTOMER” has made a vendor selection, “CUSTOMER” will additionally
provide Vendor contact details with price and logistic arrangements made with these vendors. 
  

	9.4	 The format of sending the data is in ODB++ format. Since data size can be many MB the preference is
using the FTP server for transferring data. Login data will be provided. 

  

	9.5	 Before starting work, “SUPPLIER” is obliged to check that the materials and documents for execution
are complete. If the materials and documents are not complete “CUSTOMER” will be notified immediately. 

  

	9.6	 “SUPPLIER” shall ensure that all material is procured in accordance with “CUSTOMER” order
and product documentation and includes any spoilage at “SUPPLIER” in connection with e.g. production and warranty repairs. 

  

	9.7	 “CUSTOMER” and “SUPPLIER” will come to a separate arrangement with regard to materials to
be procured for end-of-production (EOP) undertakings and services. This separate agreement is to be attached in Appendix B “Service & Repair
Agreement”. 

  

	9.8	 “CUSTOMER” can decide that some material will be supplied by “CUSTOMER”. In the case that
material is supplied by “CUSTOMER” to the “SUPPLIER”, “CUSTOMER” is responsible for : 

  

	 	•	 	 Checking provided components on technical specifications and manufacturing date. In the case that manufacturing
date exceeds 1 year, “CUSTOMER” will inform “SUPPLIER”, in which case both parties will come to a mutual agreement with regards to the consequences. 

 

	 	•	 	 To send material in the original packaging of the manufacturer, and make sure that this packaging can be handled
by assembly machines, when applicable. 

  

	 	•	 	 On time delivery of these materials. In the case of late delivery of these materials, “SUPPLIER” has
the right to postpone planned delivery for affected Products accordingly. 

 Any deviation detected and reported to
“CUSTOMER” in any of these responsibilities, “SUPPLIER” has the right to invoice “CUSTOMER” for any additional costs which arise due to this deviation. Prolonged stocking of materials of “SUPPLIER”, as set
forth in article, due to delayed delivery of the supply of material by “CUSTOMER”, can e.g. result in interest costs. 
 In the
case that “CUSTOMER” supplies Customer Components to “SUPPLIER”, “SUPPLIER” will send “CUSTOMER” an order for the supply of the required material, with the following information: required quantities and
required delivery date and required delivery address, against Cost Price which will then be incorporated in the relevant product pricing. “CUSTOMER” is responsible for the consequences in the event of
non-supply of ordered components. This section is only applicable for components which are part of an active BOM and for which a forecast containing a demand is available. In the event that there is no demand
for these Customer Components (often Cost Drivers) for 3 consecutive months parties will discuss the arisen situation regarding the stock of Customer Components. 

  

			
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	9.9	 Product specific materials in which the “CUSTOMER” has executed the Vendor Selection Process, the
“CUSTOMER” is responsible for providing the “SUPPLIER” with an overview of the following information : 

  

	 	•	 	 The Subcontractor contact data (Name, Address, tel. no, contact) 

 

	 	•	 	 The part number 

  

	 	•	 	 The price performance data (price vs. quantity) 

 

	 	•	 	 The package and minimal order quantities 

 

	 	•	 	 The Lead-time 

  

	 	•	 	 The Recurring and/or Non-Recurring—Engineering Costs (NRE)

  

	 	•	 	 The quality specification (% reject, tolerances, warranty etc.) 

 

	9.10	 Any deviations found during the procurement and/or production process in product specific components, for which
the “CUSTOMER” has executed the Vendor Selection Process, “CUSTOMER” and vendor will be informed by “SUPPLIER” about the detected deviation and subsequently will be asked to provide “SUPPLIER” a response and
solution. 

  

	9.11	 Material deviations which do not meet the agreed quality levels, will be shipped back to “CUSTOMER”
selected vendor. Subsequently vendor will be ask to respond within a, to be defined, time span and provide “SUPPLIER” with a solution and improvement programme. 

 

	9.12	 “CUSTOMER” selected vendors are a responsibility of “CUSTOMER”. In those cases that
“CUSTOMER” selected vendors consistently do not perform according to the expected standard, “CUSTOMER” will be asked by “SUPPLIER” to intervene and provide a solution. “SUPPLIER” will support
“CUSTOMER” by finding a solution. 

  

	10.	 Property Rights of drawings, tools, and other materials of “CUSTOMER” 

 

	10.1	 All equipment and/or documents provided by “CUSTOMER”, such as data, samples, tools, moulds, and
drawings remain in the ownership of “CUSTOMER”. “SUPPLIER” will treat these materials with care. At the request of “CUSTOMER”, they must be returned immediately and at any time. 

 

	10.2	 “SUPPLIER” will use the materials, tools, and moulds exclusively to manufacture the agreed products
and to implement any other production services for “CUSTOMER”. 

  

	10.3	 “CUSTOMER” shall indemnify and hold harmless “SUPPLIER” and its affiliated companies from
and against all claims, actions, costs, expenses, liabilities and proceedings whatsoever resulting from all alleged or actual infringements of any letters registered, designs, copy-rights, trademarks or trade names or other proprietary rights
arising by reason of the manufacturing by “SUPPLIER” or any affiliated company in fulfilment of “SUPPLIERS” obligations under this Agreement. 

 

	11.	 Non-disclosure 

 

	11.1	 Within the scope of this Agreement, “SUPPLIER” will not disclose any supplied materials, data,
samples, tools, moulds, drawings, price calculations and other information to any third party or affiliated companies, and will only use them to execute the orders under this Agreement. 

  

			
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	11.2	 The parties hereto shall not use, employ or disclose confidential information received from the other whether
orally to be confirmed in writing, in writing, by demonstration or otherwise to any third party except as is necessary to implement this Agreement, unless and to the extent the receiving party can prove by written record that: 

 

	 	i)	 it already had knowledge of such information prior to disclosure, or 

 

	 	ii)	 information was already or becomes publicly known through no fault of the receiving party, or

  

	 	iii)	 information identical to disclosed information was already in its possession or is subsequently lawfully
obtained without restrictions to the use from a third party who is free to disclose the same or is subsequently independently developed by the receiving party without use of the disclosed 

 

	 	iv)	 information is necessarily disclosed in commercially available product. 

Furthermore, “SUPPLIER” will ensure that any tasks carried out by “SUPPLIER’s” employees in the execution of orders in
accordance with this Partner Agreement will be treated confidentially, and that all information, business procedures, and documents that are made known to the employees, will be kept undisclosed two (2) years after termination of this
agreement. “SUPPLIER” employees will be committed accordingly 
  

	12.	 Exclusive rights 

“SUPPLIER” will deliver the manufactured Products exclusively to “CUSTOMER”. 

 

	13.	 Packaging and Transportation 

 

	13.1	 “SUPPLIER” will arrange packaging of the products according to the specifications in the provided
documentation of the “CUSTOMER”. 

  

	13.2	 “SUPPLIER” will label the products for transportation with labels containing the following
information: 

  

	 	•	 	 Customer’s and SUPPLIER’s name and address 

 

	 	•	 	 Purchase order number 

  

	 	•	 	 Package Quantity 

  

	 	•	 	 Article number, Article description with revision level 

 

	 	•	 	 Date 

  

	 	•	 	 If any special labelling is required, “CUSTOMER” will express this in the product documentation.

 If “CUSTOMER” wishes that the products needs to be shipped elsewhere, “CUSTOMER” will inform
“SUPPLIER” no later than one (1) week in advance of the delivery due date. 
  

	13.3	 All deliveries are Ex-Works according to the Incoterms 2000.

  

	14.	 Force Majeure 

 

	14.1	 Any and all circumstances beyond the reasonable control of the parties including, but not limited to
acts of God, war, riots and unavoidable break-downs, fire, flood, explosion, acts of authorities notwithstanding whether they are valid or not—as well as other cases of Force Majeure—including those which render the execution of the
particular business within a reasonable time substantially uneconomical -, also with suppliers, release the party hereto from its respective obligations under or pursuant to this Agreement for the duration of such contingencies and to the extent of
the effects resulting there from. 

  

	14.2	 Force Majeure are occurrences outside a Party’s control occurring after undersigning this Agreement that
the party not reasonably could have expected at the day of signing this Agreement and thereof the consequences could not have been overcome without unreasonable costs and/or loss of time for the Party in question. 

  

			
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	14.3	 If any such case occurs, the party affected shall inform the other party immediately indicating the presumable
duration and extent of such contingency. Moreover, the party affected shall promptly take care to settle such contingencies so that the performance of the obligations under this Agreement can be resumed as soon as possible. 

 

	14.4	 Neither Party is liable towards the other Party for delayed or
non-occurring fulfilment of obligations in accordance with this Agreement, in case of and to the extent that such delay or non-occurring fulfilment is due to Force
Majeure. 

  

	14.5	 14.5 A party suffering from a Force Majeure, or no longer suffering from such Force Majeure, shall immediately
inform the other Party thereof. 

  

	14.6	 In the case of a Force Majeure which continues to exist for a period of more than three (3) months,
“CUSTOMER” is entitled to terminate the agreement immediately. 

  

	15.	 Change implementation 

 

	15.1	 During the duration of this Agreement both parties may initiate Change Request’s (CR) according to the
procedures as agreed. Change Request’s by either party will be done in writing. 

  

	15.2	 Change Request’s will only become effective after a written approval by “CUSTOMER”.

  

	15.3	 Should “CUSTOMER” request changes to the product specification during the period of business
cooperation, “SUPPLIER” will implement these changes after discussing with “CUSTOMER”, if any, the financial consequences and the effects to delivery schedules, provided that the changes lie within the technical possibilities of
“SUPPLIER”. 

  

	15.4	 If “SUPPLIER” intends to make technical modifications, “SUPPLIER” will notify
“CUSTOMER” in advance about the planned changes in writing, incorporating, if any, the financial consequences and the effects to delivery schedules. 

 

	15.5	 In the event that components have been withdrawn of the market and/or are difficult to obtain,
“SUPPLIER” will, as far as technically feasible, suggest substitute types to “CUSTOMER”. Unless otherwise stated by “CUSTOMER”, “CUSTOMER” will give either a consent or a plan in writing, within 14 days after
receipt of this written notification for an alternative component. In the case of a refusal, “CUSTOMER” and “SUPPLIER” will discuss the consequences, if any, and come to a solution. 

 

	15.6	 Any changes which have one-off financial consequences, and have been
approved by “CUSTOMER”, “CUSTOMER” will provide “SUPPLIER” with an Engineering Change Order (ECO) within 2 working days after approval. 

 

	15.7	 Changes which also have an effect on either Price, and/or Lead-time, of a Product, and were approved by
“CUSTOMER”, will accordingly be adapted in price and delivery schedule by “SUPPLIER”. 

  

	15.8	 Any received written approval of CR’s to Products under this Agreement by “SUPPLIER”, will
automatically become part of this Agreement. 

  

	15.9	 Materials which have become redundant due to a change of the specification of the product will be delivered and
invoiced by “SUPPLIER” to “CUSTOMER”. These part could be moved into the excess stock as described in 7.11. 

  

			
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	16.	 Test Equipment 

 

	16.1	 “CUSTOMER” will provide a test protocol and/or testing equipment for tests as specified in the
“CUSTOMER” documents and according to which the products should be tested before delivered. 

 Incorporated in
the test protocol is coverage of the test. All test tooling provided by “CUSTOMER” are listed in ANNEX D. 
  

	16.2	 “SUPPLIER” is responsible that each product is tested on provided test protocol and passes this test.
16.3 If the Parties agree in writing, “SUPPLIER” may provide test equipment. 

  

	16.3	 Products are assembled and tested according to the specification in the “CUSTOMER” documentation.
Products which meet this specification and pass the mutually approved test, are to be considered to meet the functional specification. 

  

	16.4	 If “CUSTOMER” provides SUPPLIER”, with test equipment, “CUSTOMER” will ensure that
maintenance agreements have been entered into. “SUPPLIER” may provide this maintenance, if both parties have agreed to this prior in writing. 

  

	16.5	 Equipment provided by “CUSTOMER” and/or equipment produced by “SUPPLIER” on behalf of
“CUSTOMER”, shall be marked so that it is evident that it belongs to “CUSTOMER”. Transfer of ownership of test equipment, produced by “SUPPLIER” on behalf of the “CUSTOMER”, becomes effective after payment has
been received by “SUPPLIER”. 

  

	17.	 Quality Assurance 

 

	17.1	 “SUPPLIER” operates a quality assurance system in accordance with and certified to standard ISO
9001/2000. 

  

	17.2	 “SUPPLIER” gives the “CUSTOMER” a guarantee that the manufacturing services supplied comply
with the electronic manufacturing latest standard IPC-A-610 class 2 specifications. Furthermore, “SUPPLIER” assures that trained and qualified personnel will
be charged with the execution of production services. 

  

	17.3	 “SUPPLIER” is responsible for producing the Products according to the TPD released and/or provided by
“CUSTOMER”. 

  

	17.4	 “SUPPLIER” is responsible for necessary production control and shall, prior to delivery of the
products, ensure that the products comply with agreed requirements and that the production is carried out according to the expected standard. 

  

	17.5	 Every 3 months “SUPPLIER” will report the first passed yield (FPY) and total rejects per Product of
all Products produced in the previous 3 month period, unless otherwise mutually agreed. These figures will be used as a basis for analysis and improvement of production processes, and manufacturability of the Products. 

 

	17.6	 “SUPPLIER” maintains an Environment Management System according to the standard ISO 14001.

  

	17.7	 In the case that a Product needs to meet any additional qualifications, “CUSTOMER” will provide
“SUPPLIER” with additional instructions necessary for assuring the quality of the production of “CUSTOMER” Products and “SUPPLIER” will undertake measures to comply to these. 

  

			
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	17.8	 “CUSTOMER” and/or “CUSTOMERS” together with “Customer” customers are/is entitled
to inspect the implementation and maintenance of “SUPPLIER’s” quality management and Environmental Management System. “SUPPLIER” will provide “CUSTOMER”, or “CUSTOMER’s” representative, with data and
the facilities necessary to perform this task. 

  

	17.9	 “CUSTOMER” is entitled to, upon notice to “SUPPLIER”, follow the production, inspect
inventory, carry out tests and make examinations at “SUPPLIER’s” premises during normal office hours . In the case that the “CUSTOMER” wishes to exercise this right, “CUSTOMER” will notify “SUPPLIER” at
least seven (7) calendar days in advance of the delivery date. 

  

	17.10	 “CUSTOMER” is entitled to request for an acceptance test of the Products due to be delivered at
“SUPPLIER’s” premises, at the date of delivery, but no later than 5 working days after the scheduled date of delivery, after which “SUPPLIER” is entitled to excise delivery without prior notice. “SUPPLIER” will
provide sufficient space for such inspection activities. 

  

	18.	 Warranty 

  

	18.1	 “SUPPLIER’s” warranty covers his own work and all applied material. Neways warranty does not
cover Product defects or failures resulting from: a) Product design or Specifications, including, but not limited to, design functionality failures, Specification inadequacies, or failures relating to Products functioning in any intended manner, for
any particular purpose or in any specific environment; b) non-Qualified Soldering Processes; c) accident, disaster, neglect, abuse, misuse, improper handling, testing, storage or installation, including
improper handling in accordance with static sensitive electronic device handling requirements, after shipment; d) alterations, modifications, and/or repairs by Customer and/or third parties and/or accepted qualified; e) Customer supplied defective
Items, including test equipment or test software; t) Defects originating from Customer selected and prescribed suppliers which can’t meet minimal the same requirements and/or 100% yield as imposed on Seller; g) latent defects in BOM components
that Neways could not reasonably discover utilizing Customer-specified inspection and testing obligations hereunder; h) Products without specified functional tests to allow adequate failure diagnosis; or i) Products found to be non-operable which have passed all Customer-specified tests prior to shipment, yet failed some functionality or performance criteria in the field. 

 

	18.2	 The warranty period is twelve (12) months on products and services provided by “SUPPLIER”.
“CUSTOMER” has the right to choose between repairs to be carried out by “SUPPLIER” immediately on request, and a replacement delivery. As for the rest, the rights of “CUSTOMER” are in accordance with the applicable law.

  

	18.3	 “SUPPLIER” will carry out final inspections, whereby test plans and test records are to be kept in
such a way that they can be made available to “CUSTOMER” on request. Should it still occur that the products or services to be provided are faulty due to reasons in the responsibility of “SUPPLIER”, “CUSTOMER” will
inform “SUPPLIER” in writing of a defect immediately after discovery of any fault. 

  

	18.4	 All claims for damages over and above the legal regulations are excluded. 

 

	18.5	 “SUPPLIER” warrants that each unit of product shall meet “CUSTOMER” Specifications and
shall be free from defects in material and good workmanship, for a period of six (6) months from the date of delivery of the shipment, providing good usage within the limits of specification. “SUPPLIER” grants this product warranty,
when it is proven that failures or deviations to the specifications are occurred by mall performance on “SUPPLIER”-side or including mall performance, bad functioning or non-compliance to the
specifications of the used components used to manufacture these products. 

  

	18.6	 The warranty with respect to epidemic faults shall terminate Eighteen (18) months after delivery of the
last Products of the infected batch delivered to CUSTOMER 

  

			
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	19.	 Reject procedure 

 

	19.1	 The procedure for handling Customer Complaints is documented in the “SUPPLIER’s” Quality System.

  

	19.2	 In the case that a product deviates from mentioned specifications “CUSTOMER” will make a complaint in
writing to “SUPPLIER” without unreasonable delay. The complaint shall include a description of how the fault manifested itself. 

  

	19.3	 Upon receipt of a written complaint in accordance with the outlined procedure and the receipt of the faulty
Products, “SUPPLIER” will remedy the fault without delay within twenty (20) working days, with the exception of DOA’s for which SUPPLIER will be remedy the fault within five (5) working days. 

 

	19.4	 All remedied faulty Products which fall under Customer Complaints will be returned to “CUSTOMER” with
a written report containing the findings and the remedy of the fault. 

  

	19.5	 Unless otherwise specifically stated in this Agreement, “SUPPLIER” is liable for the costs for
correction of the original cause of the fault. 

  

	19.6	 Based upon the outcome in the report, parties shall decide upon corrective actions to be taken.

  

	19.7	 If “CUSTOMER” makes a complaint in accordance with the outlined procedure and it becomes evident that
there is no fault for which “SUPPLIER” is liable, “SUPPLIER” is entitled to compensation by “CUSTOMER” for the work and costs that have been caused by the complaint. 

 

	19.8	 “SUPPLIER” will archive all received Customer Complaints and will keep a Customer Complaint archived
for a period of at least three (3) years after issue date. This obligation will end in the case of termination of this Agreement, when “SUPPLIER” has transferred all archived Customer Complaints to “CUSTOMER” after the
termination date has become effective. 

  

	19.9	 “SUPPLIER” shall, prior to start of production, make sure that equipment to be used for the
production of the Products comply with the applicable requirements specified by “CUSTOMER”. “SUPPLIER” shall immediately notify “CUSTOMER” if equipment for production suffers from a lack of quality resulting from wear
and tear and such wear and tear could have been detected by “SUPPLIER”. 

  

	19.10	 Equipment provided by “CUSTOMER” will be incorporated into a calibration and/or maintenance schedule
by “CUSTOMER”. “CUSTOMER” may outsource the calibration and maintenance to SUPPLIER 

  

	20.	 Delivery performance and reporting 

 

	20.1	 “SUPPLIER” is committed to achieve a Committed Line Item Performance (CLIP) of at least 95% percent.
The tolerance within the CLIP with regard to “on time delivery” will be between “zero (0) and minus five (-5) working days and is to be regarded still as “on time delivery”.

  

	20.2	 “SUPPLIER” is committed to achieve a Requested Line Item Performance (RLIP) of at least 90% on
forecasted items, in the expectation that sufficient logistical countermeasures have been agreed upon between parties to cover unforeseen demand (flexibility). 

 

	20.3	 CLIP,RLIP targets, Key performance indicators and other reporting requirements are laid down in ANNEX E

  

	20.4	 “SUPPLIER” to report in line with intervals and dates as documented in ANNEX E 

  

			
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	20.5	 In case CLIP and RLIP figures are below target, “SUPPLIER” is to report within 5 working days the
root cause and recovery measures in order to strive to be back on target within the shortest possible time not exceeding 10 working days, assuming that the root-cause and responsibility lies within the direct control of “Supplier”. In the
event that the root-cause lies outside the direct control of “SUPPLIER” parties will discuss the arisen situation. 

  

	20.6	 Any cost related to CLIP and RLIP recovery within the timeframe specified in 20.4 are for “SUPPLIER”
unless caused by a third party or Force Majeure. 

  

	20.7	 “SUPPLIER” to guarantee capacity and ramp-up as agreed in
ANNEX F 

  

	21.	 Product Life Cycle Management 

 

	21.1	 During the duration of this Agreement and five (5) years thereafter, or during five (5) years after
the last shipment to “CUSTOMER” by “SUPPLIER” of an EOL declared Product, whichever comes first, “SUPPLIER” should be able to supply “CUSTOMER” with repair or replacement of Products or other services (e.g.
upgrading, technical support) against mutually agreed conditions as laid down below. 

  

	21.2	 Definition End-Of-Life (EOL)
declared Product, is a product of which has been declared that it can not be ordered any more after a defined Last-Time-Buy date and which will not be supported by the “CUSTOMER”. A product is
considered to have the EOL status, if a component used in this product is no longer manufactured through regular distribution channels and has either no direct alternative, or no provisions have been taken to acquire obsolescent stock by making use
of a Last-Time-Buy of such a component. 

  

	21.3	 Definition Life Cycle Management Services is a service which “SUPPLIER” provides to give the
“CUSTOMER” insight during the Life Cycle of a product into the availability of Components used to manufacture a product. 

  

	21.4	 During the production Life of a Product the “SUPPLIER” will provide the “CUSTOMER” with a
Life Cycle Management services . 

  

	21.5	 In the case that a component becomes obsolescent, “SUPPLIER” will inform in writing
“CUSTOMER” immediately of a last time buy (LTB) when it becomes known. “CUSTOMER” will respond within the time span as provided by “SUPPLIER” in writing, on what actions need to be taken to secure the Life Cycle
services provided by SUPPLIER. 

  

	21.6	 It is CUSTOMER’s responsibility to provide “SUPPLIER” the means for meeting its obligation to be
able to supply “CUSTOMER” after EOL Product, by ordering the “SUPPLIER” to buy on CUSTOMERS behalf LTB components. 

  

	21.7	 After receiving the written confirmation for procuring the obsolescent material of “CUSTOMER” by
SUPPLIER, “SUPPLIER” will procure the materials accordingly. Inventory ownership will move to “CUSTOMER” as described in section 6.1 (delivery of goods) and/or 7.11 (excess inventory) and/or termination of the agreement.

  

	21.8	 It is SUPPLIER’s responsibility to provide the appropriate means for stocking the obsolescent material
procured on behalf on the CUSTOMER. 

  

	21.9	 The obligation of “SUPPLIER” to provide defined services only stretches to the amount of obsolescent
parts which have been procured on behalf of CUSTOMER. The obligation of “SUPPLIER” becomes redundant when the last obsolescent component has been used, unless in the meantime an approved equivalent has become available.

  

			
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	21.10	 In the event that either the annual volume of a product, or business volume, decreases below the set values,
the “SUPPLIER” will inform the “CUSTOMER” during the review meetings of this situation and will make “CUSTOMER” an offer for continuation of the Life Cycle Management services for a subscription for the use of CDIS
services (Component Data Intelligence System) for the relevant product(s). Obligation of “SUPPLIER” continues after the “CUSTOMER” has agreed to accept the made offer in writing. 

 

	21.11	 In the event that the Agreement is terminated the obligations of “SUPPLIER” to be able to supply
“CUSTOMER” with repair or replacement of Products will also terminate on the date the Agreement becomes ineffective. “SUPPLIER” will make “CUSTOMER” an offer for a subscription for the continuation of Life Cycle
Management services by subscribing for the CDIS services. In that case “CUSTOMER” will make a request for a proposal for such usage to “SUPPLIER”. 

 

	21.12	 It is the responsibility of the Intellectual Property owner that a product meets the legal or technology
standards. The Intellectual Property rights of products lies with “CUSTOMER” 

  

	21.13	 The obligation in this article is based on the designed technology of a product. In the event that technology
changes, “SUPPLIER” will inform the “CUSTOMER” of such an event and its implications. 

  

	21.14	 The obligation in this article is based on the legislation at the time that a product is released for
production. In the event that legislation changes which may have an effect on the product, it is responsibility of the intellectual property owner of a product that the product meets the new legislation when required. 

 

	21.15	 During the duration of the agreement “SUPPLIER” will inform “CUSTOMER” of possible
solutions due to occurring technology changes. In the case that “CUSTOMER” decides not to take action on these changed circumstances, it will mean that the prerequisites as mentioned in article 15.6 have not been met.

  

	21.16	 “CUSTOMER” may request “SUPPLIER” to redesign the product to meet the changed technology
standards. “SUPPLIER” will honour such a request by making a proposal for redesign or re-engineering the product. 

 

	21.17	 “CUSTOMER” and “SUPPLIER” will come to a separate arrangement with regard to materials to
be procured for end-of-production (EOP) undertakings and services. This separate agreement is to be attached in ANNEX G “Service & Repair Agreement”.

  

	21.18	 The conditions under which “SUPPLIER” accepts the obligations mentioned under article 21.1 will be
outlined in ANNEX G. Until these conditions have been outlined in ANNEX G, “SUPPLIER” can’t be held liable for meeting the obligation as mentioned under article 21.1. 

 

	22.	 Patents, Intellectual Property Rights and Product Liability 

 

	22.1	 Intellectually Property (IP) rights of a Product are a responsibility of “CUSTOMER”.
“SUPPLIER” manufactures the products under assumption that all aspects with regard to property rights have been taken care of by “CUSTOMER”. 

 

	22.2	 “CUSTOMER” is responsible for obtaining any qualification for the product, such as e.g. CE and/or TUV
approval, unless otherwise stated. 

  

	22.3	 “SUPPLIER” is responsible for labelling the Products in accordance with any certification
specifications when this is specified in the provided TPD. 

  

			
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	22.4	 “SUPPLIER” is not liable for the Products to meet the
CE-standards as set in the applicable legislation, however shall fulfil its contractual obligation in such a way that these comply with the CE-standards as laid down in
the TPD. 

  

	22.5	 “SUPPLIER” undertakes to produce Products, according to the documentation and specifications provided
by “CUSTOMER” and mutually agreed quality standards, and is liable for the Products, at the time of delivery that they comply with these outlined requirements. 

 

	22.6	 All information provided by “CUSTOMER” to “SUPPLIER” is not to be considered by
“SUPPLIER” as a license for the use of this Intellectual Property towards any third party, other than for the use to fulfil the obligations of this agreement towards “CUSTOMER”. 

 

	23.	 Indemnification 

 

	23.1	 Each party under this Agreement shall defend, indemnify and hold harmless the other party and affiliated
companies from all claims, costs, damages, judgments and attorney’s fees resulting from or arising out of any alleged and/or actual infringement or other violation of any patents, patent rights, trademarks, trademark rights, trade names, trade
name rights, copyrights, trade secrets, proprietary rights and processes or other such rights in connection with the performance by “SUPPLIER” and “CUSTOMER” of their obligations under this Agreement. 

 

	23.2	 “SUPPLIER” will exempt “CUSTOMER” from all justified product liability claims made against
“CUSTOMER” by third parties, if proven that such damages have been caused through services provided by “SUPPLIER”. 

  

	23.3	 In case of damages, “SUPPLIER” limits compensation to a replacement delivery of the goods concerned
that have been manufactured by “SUPPLIER”. 

  

	23.4	 For damage to property as well as personal injury or death caused by materials and/or products delivered by
“SUPPLIER””, where the original cause is traceable, back to the services provided by “SUPPLIER”, shall be borne by “SUPPLIER” and be determined by the prevailing law of the Netherlands which is applicable to solve
such compensation claims. “SUPPLIER” warrants that it holds an insurance certificate covering damages arising out of product liabilities. 

  

	23.5	 In no event shall the total property and/or bodily injury liability of “SUPPLIER” hereunder (other
than for products unpaid for) exceed Two and a Half Million Euro (€ 2.500.000) per annum with a maximum of One Million Two Hundred and Fifty Thousand (€ 1.250.000) per occurrence, regardless of the cause of the action, liability
or claim. 

  

	23.6	 In the event that in any such suit or proceeding a Product supplied by “SUPPLIER” and
“CUSTOMER” hereunder is held to constitute infringement of any third party’s intellectual property rights in a decision made by a court of competent jurisdiction, with respect to which decision no appeal can be taken/is taken and the
use of the Product is enjoined, “SUPPLIER” and “CUSTOMER” shall jointly decide how to proceed on: 

  

	 	•	 	 The cost, if any, of an 

 

	 	•	 	 Procurement of the right to continue using such product, or 

 

	 	•	 	 Replacement of such product with a non-infringing product, or

  

	 	•	 	 Modify such product to become non-infringing, or 

 

	 	•	 	 Repurchase such product from the other party 

  

			
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	24.	 Transfer of Agreement 

 

	24.1	 This Agreement may not be transferred to a third party without the acceptance in writing from the other party
hereto. Companies which have directly or indirectly control over “SUPPLIER” or its affiliated companies are not considered as a third party 

  

	25.	 Breach of Agreement 

 

	25.1	 If a party, even after been given a notice, does not comply with an obligation as agreed in the Agreement, this
can be seen as a breach of the Agreement. 

  

	26.	 Communication 

 

	26.1	 All notices and other communications under this Agreement shall be in writing and shall be deemed sent ten
(10) working days after they have been mailed by registered mail or so much earlier as the receiving party appears to have received the mail. 

  

	26.2	 All communications between parties will sent to the following addresses: 

 

			
	If to “SUPPLIER”:	  	Neways Advanced Applications B.V.
		  	Attn. [                ]
		  	Science Park Eindhoven 5004
		  	5692 EA Son
		  	The Netherlands
		  	Mobile: [                ]
		  	Email: [                ]
		
	If to “CUSTOMER” :	  	Xsens Technologies B.V.
		  	Attn. [                 ]
		  	Pantheon 6a
		  	7521 PR Enschede
		  	The Netherlands

 or to such other address that the receiving party may have provided for purpose of notice. 

 

	27.	 Changes and amendments to Agreement 

 

	27.1	 All changes and/or amendments to this Agreement shall be in writing and become effective after under signing by
both parties. Any change and/or amendment of this Agreement will include a commencing date on which the actual change or amendment becomes effective. 

  

	28.	 Disputes 

  

	28.1	 The Agreement is based on mutual trust. Both parties agree that either party will only take to legal action if
a friendly settlement cannot be reached. 

  

	28.2	 In the case of disputes among the parties related to the performance, application and/or interpretation of this
Agreement, the Parties shall first try to settle such disputes amicably. 

  

	28.3	 If parties can’t come to an amicable settlement of the dispute, all disputes arising in connection with
this Agreement can be put in front of a council of arbitration, to be held in the Netherlands. During these proceedings both parties will bear their own costs. 

 

	28.4	 Only in the case that above proceedings have not lead to a solution, parties have the right to take legal
actions. 

  

			
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	29.	 Insurance 

  

	29.1	 During the term of this agreement and all times SUPPLIER performs services for CUSTOMER, SUPPLIER shall
maintain, and provide evidence of comprehensive bodily injury and property damage insurance with a coverage as mentioned in article 23.5 

  

	29.2	 At “CUSTOMER” option and expense, “CUSTOMER” may request that SUPPLIER obtains
inbound/outbound freight insurance on terms set by the carriers. 

  

	29.3	 Consigned inventory and Customer Tools to be insured by “CUSTOMER” 

 

	30.	 Contingency Plan 

 

	30.1	 In order to provide continuity in supply in case of a Force Majeure, not caused by a material availability
circumstance, “SUPPLIER” shall in cooperation with “CUSTOMER” set up and maintain a contingency plan (ANNEX H). The goal of the contingency plan is to manage risks by taking precaution measures and follow procedures to strive to
recover within 10 working days, assuming that the root-cause and responsibility lies within the direct control of “Supplier”. In the event that the root-cause lies outside the direct control of “SUPPLIER” parties will discuss on
short term the arisen situation and actions to be taken to recover as soon as possible. 

  

	30.2	 “SUPPLIER” will create a softcopy of the production TPD, unless the design has been made by
“SUPPLIER” for “CUSTOMER”, in which case also a softcopy of the design data is a responsibility of “SUPPLIER”. ANNEX H will contain a listing of all Products in which the content of the softcopy and
responsibilities are laid down. 

  

	30.3	 The digital copy will contain the following information: 

 

	 	i)	 Gerber Files Printed Circuit Board 

 

	 	ii)	 Assembly Products Instructions 

 

	 	iii)	 Manufacturing Instructions 

 

	 	iv)	 Bill of Material ERP System containing: Quantity Part, Manufacturer Part Number, Manufacturer Name, Substitute
Part Number, Substitute Manufacturer Name, Designator 

  

	 	v)	 Test Specifications, Instructions and Software 

 

	 	vi)	 Design customer specific Test tooling, only if test tool has been designed by “SUPPLIER” for
“CUSTOMER”. 

  

	 	vii)	 Design Software, only if software has been designed by “SUPPLIER” for “CUSTOMER”

 Non product related information, such as Supplier Data, is covered by the corporate contracts, which are centrally
organised. 
  

	30.4	 “Supplier” will assign a back-up plan as part of the
contingency plan. 

  

	30.5	 The responsibility for a contingency for any hardcopy or any necessary equipment, such as i.e. product specific
test tool, stock of customer specific and/or obsolete parts, is the responsibility of “CUSTOMER”. “CUSTOMER” can make a request to “SUPPLIER” to provide a hardcopy to be incorporated into the contingency plan.
“SUPPLIER” will quote “CUSTOMER”, if any, for the costs involved. 

  

	30.6	 “CUSTOMER”, or its appointed representative, is entitled to inspect the implementation and
maintenance of the contingency plan at “SUPPLIER’s “ and “Back-up partner” facilities during normal office hours. In the case that the “CUSTOMER” wishes to exercise this
right, “CUSTOMER” will notify “SUPPLIER” at least seven (7) calendar days in advance of visit. 

  

			
	15 JUNE 2015	 	PAGE 20 OF 22

					
	

	  	SUPPLY AGREEMENT XSENS / NEWAYS	  	

  

	31.	 Traceability Products 

 

	31.1	 During the duration of this Agreement “SUPPLIER” will provide each Product with an unique
identification mark which makes the product traceable during the production process. 

  

	31.2	 All data records of a product during the production process will be kept for a period of three (3) years
after manufacturing, unless the agreement is terminated in which case all data will be transferred after passing the termination date to the “CUSTOMER”. 

 

	31.3	 Documents related to sales transactions (i.e. delivery notes, packing list, invoices etc.) will be kept for a
period of 7 years after creation date, unless the agreement is terminated in which case all data will be transferred after passing the termination date to the “CUSTOMER”. 

 

	31.4	 “SUPPLIER” is not obliged to provide further traceability on a lower level, other that it can prove
that procurement has taken place from qualified component suppliers and specified manufactures according to specification in the Technical Product Documentation, procurement date, batch quantity and number. 

 

	31.5	 In the case that materials have been supplied by “CUSTOMER”, it is the responsibility of
“CUSTOMER” to secure the traceability of these components and that they meet the requirements. 

  

	32.	 Confidentiality and Publications 

 

	32.1	 “SUPPLIER” and affiliated companies shall not pursue any 3D Motion Tracking product sales and
marketing activities competing with “CUSTOMERS” products during the duration of this agreement and five (5) years after termination of the agreement. 

 

	32.2	 Assembly of electronic 3D Motion Tracking products for competitors of “CUSTOMER” is not considered as
a competitive activity. However, in the event that “SUPPLIER” is to enter a business relationship with a company, of which “SUPPLIER” suspects that it may be a competitor of “CUSTOMER”, ““SUPPLIER will inform
“CUSTOMER” in advance. 

  

	32.3	 The contract partners may not use each other’s names and trademarks. 

 

	32.4	 The contents of this agreement and the relationship between parties shall not be revealed publicly, publicized,
quoted or discussed by either party, without prior written consent by the other party. 

  

	33.	 Export Compliance 

 

	33.1	 In the case of Controlled Content: “CUSTOMER” and “SUPPLIER” mutually agree to, at all
times, conduct its business in compliance with all applicable export laws and regulations, including, without limitation, U.S. export and re-export regulations governed by the Bureau of Industry and Security
(BIS) and the U.S. Department of State (DDTC). “SUPPLIER” will ensure that its subsidiaries comply with these laws. “SUPPLIER” agrees that it will neither export or re-export to any such
prohibited destination or make available any controlled technical data or products received hereunder without first obtaining required U.S. Government approval by filling an application for export or re-export
license with the Bureau of Industry and Security (BIS). In the case of any expenses to be made, “SUPPLIER” will inform “CUSTOMER” of such a circumstance. 

  

			
	15 JUNE 2015	 	PAGE 21 OF 22

					
	

	  	SUPPLY AGREEMENT XSENS / NEWAYS	  	

  

 “SUPPLIER” agrees that it will not perform any act or participate in any
misrepresentation of fact, which either directly or indirectly may constitute a violation of U.S. or any applicable sovereign nations export laws or regulations. “SUPPLIER” will indemnify “CUSTOMER” and hold “CUSTOMER”
harmless from any claims asserting non-compliance or violation of such laws and regulations committed by the “SUPPLIER” or its subcontractors. “SUPPLIER” agrees that it will not perform any
act or participate in any misrepresentation of fact, which either directly or indirectly may constitute a violation of U.S. or any applicable sovereign nations export laws or regulations. 

 

	33.2	 Embargoed Countries: “SUPPLIER” and “CUSTOMER” both acknowledge that any Customer products
or technical data cannot be exported or re-exported to embargoed countries: as of today Cuba, Iran, North Korea, Sudan, Syria 

 

	33.3	 Denied Parties: both parties acknowledge that it will neither export or
re-export to any such prohibited destination or make available to denied parties any technical data or products received hereunder. 

 

	33.4	 Military/Aerospace Applications: Customer products are neither designed for, nor intended for use in,
Military/Aerospace applications or environments. 

  

	33.5	 Governance: “SUPPLIER” agrees to cooperate with “CUSTOMER” in establishing and monitoring
such suitable controls within the “SUPPLIER” organization as may be deemed necessary by “CUSTOMER” in order to comply with the requirements of this agreement. Such controls may be understood to include such items as record
keeping, compliance training, screening of vendors/customers, and audit activity. “SUPPLIER” failure to fully participate in and support “CUSTOMER” compliance program may result in the immediate termination of this agreement, In
the event of any expenses to be made “SUPPLIER” will inform “CUSTOMER” in a timely manner. 

  

	33.6	 Termination: The provisions of this section, export controls, shall survive any termination of this agreement
and shall remain in force indefinitely. 

  

	34.	 Final Agreements, Legal Domicile, Applicable Laws 

 

	34.1	 Changes and amendments to this overall Agreement, as well as orders placed in accordance with it, must be made
in writing. 

  

	34.2	 In the event of legal action, the exclusive legal domicile will be the domicile of “SUPPLIER”. 34.3
The language to be used in the arbitrary and/or legal proceedings shall be the Dutch Language. 34.4 This Agreement will be governed by the law of The Netherlands. 

 

	34.3	 Should it become apparent that one or more of the articles made under this overall Agreement is in violation of
legal regulations and are therefore invalid, the remaining terms of the Agreement are not affected. In the event of such an instance, parties will then reach to an agreement about the invalid point. 

 

			
	 Enschede, June 16th, 2015
  

Xsens Technologies B.V.
 Pantheon

7521 PR Enschede
 The Netherlands

 
 Ferry Williems

/s/ Ferry Williems
	  	 Son, June 16th, 2015
  

Neways Advanced Applications B.V.
 Science Park Eindhoven 5004

5692 EA Son
 The Netherlands

 
 Robert Loijen

/s/ Robert Loijen

  

			
	15 JUNE 2015	 	PAGE 22 OF 22Document

Exhibit 10.1
                                 

EXECUTIVE SEVERANCE PLAN

1.Purpose of the Plan

The Anterix Board of Directors (the “Board”) believes that it is in the best interests of the Company to encourage the continued employment and dedication of certain executives and key employees by providing economic security to such individuals in the event of certain terminations of employment, and the Plan has been established for this purpose. The Plan is intended to be a “welfare plan” under ERISA providing benefits to a select group of management or highly compensated employees as described in DOL Regulation Section 2520.104-24. Capitalized terms used in the Plan are defined in Section 10 (Definitions), except as otherwise specified.

2.Effective Date

The Plan shall be effective only with respect to a termination of employment covered by the Plan that occurs on or after February 18, 2015 (the” Effective Date”).

3.Administration

The Committee shall act as the plan administrator and the “named fiduciary” of the Plan for purposes of ERISA. Before a Change in Control, the Committee has sole and absolute discretion and authority to administer the Plan, including the sole and absolute discretion and authority to:

oadopt such rules as it deems advisable in connection with the administration of the Plan, and to construe, interpret, apply and enforce the Plan and any such rules and to remedy ambiguities, errors or omissions in the Plan:

odetermine questions of eligibility and entitlement to benefits and any other terms of the Plan applicable to the Participants; the Committee’s determinations are conclusive and binding on all parties affected by its determinations;

oact under the Plan on a case-by-case basis; the Committee’s decisions under the Plan need not be uniform with respect to similarly situated Participants; and

odelegate its authority under the Plan to any director, officer, employee, or group of directors, officers and/or employees of the Company.

If any person with administrative authority becomes eligible or makes a claim for Plan benefits, that person will have no authority with respect to any matter specifically affecting their interest under the Plan, and the Committee will designate another person to exercise such authority.

Notwithstanding anything in the Plan to the contrary, after a Change in Control, neither the Committee nor the Board nor any other person or entity shall have any discretionary authority in the administration of the Plan, and any court or tribunal that adjudicates any dispute, controversy or claim in connection with any Severance Benefits under this Plan will apply a de novo standard of 
1

Exhibit 10.1
                                 

review to any determinations made by the Committee or Board following such Change in Control. Such de novo standard shall apply notwithstanding the grant of full discretion hereunder to the Committee, Board, or any person or entity or characterization of any decision by the Committee, Board, or by such person or entity as final, binding or conclusive on any party.

4.Participation

Eligibility under the Plan is limited to Company executive employees specified herein and such other key employees as may be designated by the Committee from time to time. In order to become Participant, the executive or key employee must enter into a written Participation Agreement with the Company.

5.Severance Benefits

(a)Before a Change in Control. If a Participant’s employment with the Company is terminated after the Effective Date and before a Change in Control either by the Company for reasons other than Cause, death, or Disability, or by the Participant for Good Reason, then the Participant will be entitled to receive their Accrued Benefits and, subject to the Participant’s satisfaction of the requirements of Section 6(a) (regarding waiver and release of claims) and Section 6(b) (regarding restrictive covenants), the Company shall provide the Participant with the following Severance Benefits:

i.payment of the Cash Severance specified in this Section 5(a) (i), which amount shall be paid in installments in accordance with the Company’s normal payroll schedule over the Severance Payment Period beginning no later than the first regular payroll period following the expiration of any period during which a Participant may revoke the waiver and release of claims executed pursuant to Section 6(a), so long as that waiver and release becomes effective no later than sixty ( 60) days after the Participant’s termination of employment. Notwithstanding the foregoing, if the period during which a Participant has discretion to execute or revoke the waiver and release of claims straddles two taxable years of the Participant, then the Company shall make the payment in the second of such taxable years, regardless of which taxable year the Participant actually delivers the executed waiver and release to the Company:

(A) Tier 1 Executive: an amount equal to 2.0 times the sum of Base Salary plus Target Bonus;

(B) Tier 2 Executive: an amount equal to 1.0 times the sum of Base Salary plus Target Bonus; and

(C) Tier 3 Executive: an amount equal to 0.5 times the sum of Base Salary plus Target Bonus.

ii.a pro-rated Target Bonus for the Company’s fiscal year in which the termination occurs, pro-rated based on the number of full and partial calendar months during such year prior to the date of termination of employment, which amount shall be paid at the time at which bonuses are paid to actively employed executives for such fiscal year;
2

Exhibit 10.1
                                 

iii.with respect to equity awards outstanding on the effective date of termination of employment:

(A)Tier 1 and Tier 2 Executives. (I) all outstanding equity awards granted by the Company prior to the Effective Date to the terminated Tier 1 Executive or Tier 2 Executive, as applicable, shall become fully vested and exercisable for a period of two (2) years following the effective date of such termination or until the option expiration date, if earlier; and (II) all equity awards, if any, granted by the Company to the terminated Tier 1 Executive or Tier 2 Executive, as applicable, after the Effective Date, (x) to the extent vesting of such equity award is subject to vesting based on service, shall be accelerated on a pro rata basis determined by multiplying the number of awards that would have vested on the next scheduled vesting date following the effective date on which the affected Participant’s employment terminates by a fraction, the numerator of which is the number of full and partial months (rounded up) that the Participant was employed since the last vesting date (or date of grant of an award if there is no prior vesting date), and the denominator of which is the number of months in the period beginning on the last vesting date (or date of grant if there is no prior vesting date) and ending on the next vesting date, and (y) to the extent such equity award is a stock option or stock appreciation right, shall be exercisable for a period of nine (9) months following the effective date of such termination or until the option expiration date, if earlier.

(B)Tier 3 Executives:  All equity awards, if any, granted by the Company to the terminated Tier 3 Executive after the Effective Date, (x) to the extent vesting of such equity award is subject to vesting based on service, shall be accelerated on a pro rata basis determined by multiplying the number of awards that would have vested on the next scheduled vesting date following the effective date on which the affected Participant’s employment terminates by a fraction, the numerator of which is the number of full and partial months (rounded up) that the Participant was employed since the last vesting gate (or date of grant of an award if there is no prior vesting date), and the denominator of which is the number of months in the period beginning on the last vesting date (or date of grant if there is no prior vesting date) and ending on the next vesting date, and (y) to the extent such equity award is a stock option or stock appreciation right, shall be exercisable for a period of nine (9) months following the effective date of such termination or until the option expiration date, if earlier;

iv.Health Benefit Continuation; and

v.Outplacement Assistance.

(b)Termination Less Than Six Months Before a Change in Control. If a Participant’s employment is terminated after the Effective Date either by the Company for reasons other than Cause, death, or Disability, or by the Participant for Good Reason, the Participant begins to receive severance in accordance with Section 5(a), and a Change in Control occurs within six (6) months after the effective date of such termination of employment, then (i) no further payments shall be made pursuant to Sections 5(a)(i) and 5(a)(ii), and the Participant shall be entitled to receive a cash payment upon such Change in Control (or such later date as the release becomes effective as provided in Section 6 (a)) equal to the amount (if any) by which (A) the sum of the Cash Severance determined in accordance with Section 5(c)(i) plus the pro-rated Target Bonus 
3

Exhibit 10.1
                                 

determined in accordance with Section 5(c)(ii), exceeds (B) the amount of any Cash Severance already paid to the Participant under Section 5(a)(i) and the amount of any pro-rated bonus already paid to the Participant under Section 5(a)(ii) for the Company’s fiscal year in which the termination occurs based on actual performance, and (ii) all outstanding equity awards granted by the Company to such Participant shall become fully vested upon such Change in Control, and to the extent such equity award is a stock option or stock appreciation right which is not cashed out upon the Change in Control, shall be exercisable for a period for a period of two (2) years following the effective date of such termination or until the option expiration date, if earlier If a Change in Control occurs more than six (6) months after the effective date of a Participant’s termination of employment, all payments specified by Section 5(a) will continue to be paid as scheduled.

(c)After a Change in Control. If a Participant’s employment with the Company is terminated within 24 months after a Change in Control either by the Company for reasons other than Cause, death, or Disability, or by the Participant for Good Reason, then the Participant will be entitled to receive their Accrued Benefits and, subject to the Participant’s satisfaction of the requirements of Section 6(a) (regarding waiver and release of claims) and Section 6(b) (regarding restrictive covenants), the Company shall provide the Participant with the following Severance Benefits in lieu of those provided under Section 5(a):

vi.payment of the Cash Severance specified in this Section 5(c)(i), which amount shall be paid in a lump sum cash amount no later than three (3) business days following the expiration of any period during which a Participant may revoke the waiver and release of claims executed pursuant to Section 6(a), so long as that waiver and release becomes effective no later than sixty (60) days after the Participant’s termination of employment (or the Change in Control Date, for a Participant whose termination of employment is deemed to occur on the Change in Control Date). Notwithstanding the foregoing, if the period during which a Participant has discretion to execute or revoke the waiver and release of claims straddles two taxable years of the Participant, then the Company shall make the payment in the second of such taxable years, regardless of which taxable year the Participant actually delivers the executed waiver and release to the Company:

(A) Tier 1 Executive: an amount equal to 2.0 times the sum of Base Salary plus Target Bonus;
(B) Tier 2 Executive· an amount 1.0 times the sum of Base Salary plus Target Bonus; and
(C) Tier 3 Executive · an amount equal to 0.5 times the sum of Base Salary plus Target Bonus.

vii.a pro-rated Target Bonus for the Company’s fiscal year in which the termination occurs, pro-rated based on the number of full and partial calendar months during such year prior to the date of termination of employment, which amount shall be paid at the time and subject to the same conditions as the Cash Severance;

viii.with respect to equity awards outstanding on the effective date of termination of employment:
4

Exhibit 10.1
                                 

Tier 1, Tier 2, and Tier 3 Executives : (1) all outstanding equity awards granted by the Company to the terminated Tier 1, Tier 2, or Tier 3 Executive, as applicable, shall become fully vested, and to the extent such equity award is a stock option or stock appreciation right which is not cashed out upon the Change in Control, shall be exercisable for a period of two (2) years following the effective date of such termination or until the option expiration date, if earlier;

(ii)Health Benefit Continuation; and

(iii)Outplacement Assistance.

(d)Form of Severance under Existing Agreement. Participants who are covered by an existing employment or severance agreement with the Company on the Effective Date agree that their existing rights under that agreement are terminated and replaced with the provisions of this Plan; provided, however, that for the duration of the original remaining term of the employment or severance agreement only, the timing and form of severance (i.e., lump sum or installments) in the employment or severance agreement shall supersede the timing and form of payment provisions in this Section 5 and control the timing and form of payment of the Cash Severance. The Participation Agreement shall provide that, unless otherwise agreed to in writing by the Participant and the Company, any defined terms in any outstanding equity awards held by the Participant as of the Effective Date shall be superseded and replaced in their entirety by the defined terms in Section 10 of this Plan (including, but not limited to, “Cause," “Change of Control," “Disability” and “Good Reason”).

(e)Employment with Successor. Notwithstanding anything to the contrary under the Plan, no Severance Benefits shall be paid to a Tier 2 or Tier 3 Executive (but this sentence shall not apply to a Tier 1 Executive) who is offered comparable employment by an entity that purchases a unit or asset of the Company or, following a Change in Control, by a successor to the Company. “Comparable employment” is determined in good faith based on the facts and circumstances in each case, but means employment with duties, responsibilities, Base Salary, annual short-term incentive opportunity, annual long-term incentive opportunity and location that are substantially similar in the aggregate to the Participant’s prior employment with the Company.  A Participant who accepts comparable employment with a successor to the Company following a Change in Control remains entitled to receive Severance Benefits if the Participant’s employment is terminated as specified under Section 5(c) (including for purposes of clarity by the Participant for Good Reason).

(f)Release of Claims and Restrictive Covenants.  Notwithstanding anything in this Plan to the contrary, the Severance Benefits are subject to and contingent on the Participant’s satisfaction of the requirements of Section 6(a) (regarding waiver and release of claims) and Section 6(b) (regarding restrictive covenants).

(g)Code Section 280G Cutback.  If the Severance Benefits provided by this Plan or other benefits otherwise payable to the Participant (a) constitute “parachute payments” within the meaning of Code section 280G, and (b) but for this Section 5(g), would be subject to the excise tax imposed by Code section 4999 (“Excise Tax”), then such Severance Benefits or other benefits shall be 
5

Exhibit 10.1
                                 

payable either in full or in such lesser amount which would result in no portion of such Severance Benefits or other benefits being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income and employment taxes and the Excise Tax, results in the receipt by the Participant, on an after-tax basis, of the greatest amount of such Severance Benefits and other benefits under this Plan or otherwise, notwithstanding that all or some portion of such Severance Benefits or other benefits may be taxable under Code section 4999. Any reduction in the Severance Benefits and other benefits required by this Section 5(g) shall be made in the following order: (i) reduction of cash payments; (ii) reduction of accelerated vesting of equity awards other than stock options; (iii) reduction of accelerated vesting of stock options; and (iv) reduction of other benefits paid or provided to the Participant.  The calculations in this Section 5(g) will be performed by the professional firm engaged by the Company for general tax purposes as of the day prior to the date of the Change in Control.  If the tax firm so engaged by the Company is serving as accountant or auditor for the acquiring company, the Company shall appoint a nationally recognized tax firm to make the determinations required by this Section 5(g).  The Company shall bear all expenses with respect to the determinations by such firm required to be made by this Section 5(g ).  The Company and the Participant shall furnish such tax firm such information and documents as the tax firm may reasonably request in order to make its required determination.  The tax firm will provide its calculations, together with detailed supporting documentation, to the Company and the Participant as soon as practicable following its engagement.  Any good faith determinations of the tax firm made hereunder shall be final, binding and conclusive upon the Company and the Participant.  As a result of the uncertainty in the application of Code section 409A, 280G or 4999 at the time of the initial determination by the professional tax firm described in this Section 5( g), it is possible that the Internal Revenue Service (the “IRS”) or other agency will claim that an Excise Tax greater than that amount, if any, determined by such professional firm for the purposes of Section 5(g) is due (the “Additional Excise Tax”).  The Participant shall notify the Company in writing of any claim by the IRS or other agency that, if successful, would require payment of Additional Excise Tax.  The Participant and the Company shall each reasonably cooperate with the other in connection with any administrative or judicial proceedings concerning the existence or amount of liability for Excise Tax with respect to payments made or due to the Participant.  The Company shall pay all reasonable fees, expenses and penalties of the Participant relating to a claim by the IRS or other agency.  In the event it is finally determined that a further reduction would have been required under this Section 5(g) to place the Participant in a better after-tax position, the Participant shall repay the Company such amount within thirty ( 30) days thereof in order to effect such result.

6.Terms and Conditions of Participation

(a)Waiver and Release of Claims.  As a condition to receiving Severance Benefits under the Plan, each Participant shall be required to sign and deliver to the Company, and may not revoke or violate the terms of, a general release of all claims against the Company, and the directors, officers, and employees of each of them, in the form attached as Exhibit A or such other form reasonably satisfactory to the Committee.  In no case will payments be made or begin before the end of any revocation period required by applicable law or regulation in connection with any release or waiver that the Participant is asked to sign.

6

Exhibit 10.1
                                 

(b)Restrictive Covenants.  By executing the Participation Agreement, the Participant agrees to abide by the following restrictive covenants as consideration for the Severance Benefits provided under Section 5 and acknowledges that the provisions and covenants contained in this Section 6(b) are ancillary and material to the terms of the Plan and that the limitations contained herein are reasonable in geographic and temporal scope and do not impose a greater restriction or restraint than is necessary to protect the goodwill and other legitimate business interests of the Company. The Participant also acknowledges and agrees that the provisions of this Section 6(b) do not adversely affect the Participant’s ability to earn a living in any capacity that does not violate the covenants contained herein.  The Company acknowledges and agrees that before Participant shall be determined to have breached any provision or covenant contained in this Section 6(b), the Participant shall have been given notice of any such alleged breach (including the grounds for the Company’s determination in reasonable detail) and been given forty-five (45) days after receipt of such notice of such breach to (1) cure or remedy any such breach that is reasonably susceptible of cure or remedy or (2) provide the Company with support that Participant did not breach this Section 6(b). During this forty-five (45) day notice period, a Tier 1 Executive will be afforded the opportunity to make a presentation to the Board regarding the matters referred to in the Company’s notice.

ix.Confidential information.  The Participant shall hold in a fiduciary capacity for the benefit of the Company and all of its subsidiaries, partnerships, joint ventures, limited liability companies, and other affiliates (collectively, the” Company Group”), all secret or confidential information, knowledge or data relating to the Company Group and its businesses (including, without limitation, any proprietary and not publicly available information concerning any processes, methods, trade secrets, intellectual property, research secret data, costs, names of users or purchasers of their respective products or services, business methods, operating or manufacturing procedures, or programs or methods of promotion and sale) that the Participant has obtained or obtains during the Participant’s employment by the Company Group and that is not public knowledge (other than as a result of the Participant’s violation of this Section 6(b)(i)) (“Confidential Information”). The Participant shall not communicate, divulge or disseminate Confidential Information at any time during or after the Participant’s employment and/or service as a consultant with the Company Group, except with prior written consent of a corporate officer of Company, or as otherwise required by law or legal process.  All records, files, memoranda, reports, customer lists, drawings, plans, documents and the like that the Participant uses, prepares or comes into contact with during the course of the Participant’s employment shall remain the sole property of the Company and/or the Company Group, as applicable, and shall be turned over to the applicable Company Group company upon termination of the Participant’s employment.

x.Non-Recruitment of Company Group Employees, Etc.  During the Participant’s employment with the Company Group and for the Restricted Period, the Participant shall not (I)  solicit or participate in the solicitation of any person who was employed by the Company Group at any time during the six-month period prior to the Participant’s termination of employment to leave the employ of Company Group; or (2) on behalf of the Participant or any other person, hire, employ, or engage any such person, provided that these restrictions shall only apply so long as the person remains employed by the 
7

Exhibit 10.1
                                 

Company Group and for six months after they cease to be employed by the Company Group. The Participant further agrees that, during the Participant’s employment with the Company Group and for the Restricted Period, if an employee of the Company Group contacts the Participant about prospective employment, the Participant will inform that employee that the Participant cannot discuss the matter further without informing the Company Group.

xi.Non-Solicitation of Business The Participant acknowledges and agrees that Company’s customers and any information regarding Company’s customers is confidential and constitutes trade secrets.  In recognition of the confidential and trade secret nature of information regarding Company’s customers, the Participant agrees that during the Restricted Period, the Participant shall not (either directly or indirectly or as an officer, agent, employee, partner or director of any other company, partnership or entity) solicit on behalf of any Competitor of the Company Group the business of (1) any customer of the Company Group during the time of the Participant’s employment or as of the date of Participant’s termination of employment, or (2) any potential customer of the Company Group which the Participant knew to be an identified, prospective purchaser of services or products of the Company Group as of the date of Participant’s termination of employment.

xii.Employment by Competitor During the Restricted Period, the Participant shall not invest in (other than in a publicly-traded company with a maximum investment of no more than one percent (1%) of outstanding shares), counsel, advise, or be otherwise engaged or employed by, any Competitor of the Company Group.

xiii.No Disparagement.

(1)The Participant and the Company shall at all times refrain from taking actions or making statements, written or oral, that denigrate, disparage or defame the goodwill or reputation of the Participant or the Company Group, as the case may be, or any of its trustees, officers, security holders, partners, agents or former or current employees and directors.  The Participant further agrees not to make any negative statement to third parties relating to the Participant’s employment or any aspect of the businesses of Company Group and not to make any statements to third parties about the circumstances of the termination of the Participant’s employment or about the Company Group or its trustees, directors, officer, security holders, partners, agents or former or current employees and directors, except as may be required by a court or government body.

(2)The Participant further agrees that, following termination of employment for any reason, the Participant shall assist and cooperate with the Company with regard to any matter or project in which the Participant was involved during the Participant’s employment with the Company, including but not limited to any litigation that may be pending or arise after such termination of employment (other than any litigation in which the Company asserts a claim against Participant or alleges that Participant breached one of the restrictive covenants in this Section 6(b)).  The Company shall not unreasonably request such cooperation of the Participant and shall cooperate with the Participant in scheduling any assistance by the Participant taking into account the Participant’s business and personal affairs and shall compensate the Participant for any lost wages and/or expenses associated with such cooperation and assistance.
8

Exhibit 10.1
                                 

xiv.Inventions. All plans, discoveries and improvements, whether patentable or unpatentable, made or devised by the Participant, whether alone or jointly with others, from the date of the Participant’s initial employment by the Company and continuing until the end of any period during which the Participant is employed by the Company Group, relating or pertaining in any way to the Participant’s employment with or the business of the Company Group (each an “Invention”), shall be promptly disclosed in writing to the Secretary of the Board and are hereby transferred to and shall redound to the benefit of the Company and shall become and remain its sole and exclusive property. The Participant agrees to execute any assignment to the Company or its nominee, of the Participant’s entire right, title and interest in and to any Invention and to execute any other instruments and documents requisite or desirable in applying for and obtaining patents, trademarks or copyrights, at the expense of the Company, with respect thereto in the United States and in all foreign countries that may be required by the Company.  The Participant further agrees to cooperate, while employed and thereafter, to the extent and in the manner required by the Company, in the prosecution or defense of any patent or copyright claims or any litigation, or other proceeding involving any trade secrets, processes, discoveries or improvements covered by this covenant, but all necessary expenses thereof shall be paid by the Company.  The Participant agrees to disclose promptly in writing to Company all innovations (including Inventions) conceived, reduced to practice, created, derived, developed, or made by the Participant during the term of employment and for three months thereafter, whether or not the Participant believes such innovations are subject to this Section 6(b)(vi), to permit a determination by Company as to whether or not the innovations should be the property of Company.  Any such information will be received in confidence by Company.

xv.Acknowledgment and Enforcement.   The Participant acknowledges and agrees that: (1) the purpose of the foregoing covenants is to protect the goodwill, trade secrets and other Confidential Information of the Company; (2) because of the nature of the business in which the Company Group is engaged and because of the nature of the Confidential Information to which the Participant has access, the Company would suffer irreparable harm and it would be impractical and excessively difficult to determine the actual damages of the Company Group in the event the Participant breached any of the covenants of this Section 6(b); and (3) remedies at law (such as monetary damages) for any breach of the Participant’s obligations under this Section 6(b) would be inadequate. The Participant therefore agrees and consents that (X) if the Participant commits any breach of a covenant under this Section 6(b) during the applicable period of restriction specified therein, all unpaid Severance Benefits will be immediately forfeited, and (Y) if the Participant commits any breach of a covenant under this Section 6(b) or threatens to commit any such breach at any time, the Company shall have the right (in addition to, and not in lieu of, any other right or that may be available to it) to temporary and permanent injunctive relief from a court of competent jurisdiction, without posting any bond or other security and without the necessity of proof of actual damage.

xvi.Similar Covenants in Other Agreements Unaffected.  The Participant may be or become subject to covenants contained in other agreements (including but not limited to stock option and restricted stock unit agreements) which are similar to those contained in this 
9

Exhibit 10.1
                                 

Section 6(b).  Further, a breach of the covenants contained in this Section 6(b) may have implications under the terms of such other agreements, including but not limited to forfeiture of equity awards and long-term cash compensation.  The Participant acknowledges the foregoing and understands that the covenants contained in this Section 6(b) are in addition to, and not in substitution of, the similar covenants contained in any such other agreements.

(c)At-Will Employment.  Each Participant is employed by the Company on an “at-will” basis, and nothing in this Plan shall give any Participant any right to continue in the employ of the Company.  A Participant shall have no rights under the Plan if the Participant’s employment is terminated by the Company, or any successor, with Cause or by the Participant without Good Reason, or due to the Participant’s death or Disability.

(d)Non-duplication; No Impact on Benefits

Payments to a Participant under the Plan shall be in lieu of any severance or similar payments that otherwise might be payable under any Company plan, program, policy or agreement with the Company that provides Severance Benefits upon termination of employment.

Benefits payable under the Plan, whether paid in a lump sum or in periodic payments, will not increase or decrease the benefits otherwise available to a Participant under any company-sponsored retirement plan, welfare plan or any other employee benefit plan or program, unless otherwise expressly provided for in any particular plan or program.

Any Severance Benefits specified under the Plan shall be reduced by the amount of any payment required by the Company to the Participant (A) because of insufficient advance notice of employment loss as may be required by law; or (B) under applicable law because of the termination of employment.

7.Benefit Claims

(a)Initial Claim.  Any claims concerning eligibility, participation, benefits or other aspects of the Plan must be submitted in writing and directed to the Committee within thirty (30) days after the communication of the determination that is the basis of the claim.  Within thirty (30) days after receiving a claim, the Committee will (i) either accept or deny the claim completely or partially and (ii) notify the Participant of acceptance or denial of the claim.  If a claim is partially or wholly denied, the Committee will provide a written denial to the Participant no later than ninety (90) days after receipt of the initial claim request.  The written denial shall include specific reasons for the denial, specific references to the Plan provisions upon which the denial was based, a description of any additional material or information necessary for the Participant to perfect the claim, an explanation of why such material is necessary, and instructions on the Plan’s claim review procedure.

(b)Appeals.  The Participant may request in writing to the Board a review of a denied claim within thirty (30) days after receipt of such denial.  Such written request must contain an explanation as to why the Participant is seeking a review.  For purposes of the review, the Participant has the right to (i) submit written comments, documents, records and other information relating to the claim for 
10

Exhibit 10.1
                                 

benefits; (ii) request, free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claim for benefits; and (iii) a review that takes into account all comments, documents, records, and other information the Participant submitted relating to the claim, regardless of whether the information was submitted or considered in the initial decision. A decision on such review will be rendered in writing within thirty ( 30) days of the Board’s receipt of a request for review.  A written notice affirming the denial of a claim will set forth the specific reasons for the decision and make specific reference to Plan provisions upon which the decision or appeal is based.  In preparation for filing such a request for review, the Participant or the Participant’s authorized representative may review pertinent Plan documents, and as part of the written request for review, may submit issues and comments concerning the claim.  No claim may be brought before or submitted to a court of law or other governmental entity unless and until the claims process under this Section 7 has been exhausted.

8.Recoupment

(a)Right of Recoupment.  If at any time, the Board or the Committee, as the case may be, determines that any action or omission by the Participant constituted a violation of the restrictive covenants in Section 6(b) to the material detriment of the Company, then the Participant’s participation in the Plan shall be immediately terminated, and the Participant shall repay to the Company, upon notice to the Participant by the Company, up to 100% of the pre-tax amount paid to the Participant pursuant to this Plan.  The Board or the Committee, as the case may be, shall determine the date of occurrence of such violation and the percentage of the pre-tax amount received pursuant to this Plan that must be repaid to the Company.

(b)Method of Recoupment.  To the extent permitted by applicable law, the Company may enforce the recoupment of any or all amounts due under this Section 8 by withholding future payment of any Severance Benefits, seeking reimbursement of previously paid Severance Benefits, demanding direct cash payment, reducing any amount of compensation owed by the Company to the Participant, and/or such other means determined by the Board or Committee.

(c)Nonexclusive Remedy.  The Company’s right of recoupment under this Section 8 is in addition to any remedy available to the Company with respect to any Participant, including, but not limited to, the initiation of civil or criminal proceedings and any right to repayment under the Sarbanes-Oxley Act of 2002, Dodd-Frank Wall Street Reform and Consumer Protection Act, and any other applicable law.

9.General

(a)Amendment and Termination of the Plan.  The Board or the Committee may amend or terminate the Plan in any respect (including any change to the Severance Benefits) only with two years notice to Participants; provided, however, that (i) any amendment or termination will not be effective if there is a Change in Control during the two-year notice period, and (ii) the Plan cannot be amended or terminated during the twenty-four (24) month period after a Change in Control.  A Participant ceasing to be eligible for a benefit under the Plan before a Change in Control, as described in Section 4, is not an amendment or termination of the Plan.

11

Exhibit 10.1
                                 

(b)Funding.  Benefits payable under the Plan will be paid only from the general assets of the Company.  The Plan does not create any right to, or interest in, any specific assets of the Company.

(c)No Mitigation.  The Participant shall not be obligated to seek other employment in mitigation of the amounts payable under any provision of the Plan, and the obtaining of such other employment shall not effect any reduction of the Company’s obligations to pay the Severance Benefits provided under the Plan (unless in violation of the restrictive covenants specified under Section 6(b)).

(d)Withholding.  The Company may withhold from any payments made under the Plan all federal, state, local or other taxes required pursuant to any law or governmental regulation or ruling.

(e)Right to Offset.  To the extent permitted by law, the Company may offset against any obligation to pay any portion of the severance benefit under the Plan any outstanding amount of whatever nature that the Participant then owes to the Company in the capacity as an employee.  However, no amount of “deferred compensation” (as defined under Treasury Regulation section 1.409A-1(b)(1), after giving effect to the exemptions in Treasury Regulation sections 1.409A-1(b)(3) through (b)(12)) that is payable to a Participant under the Plan may be used to offset any amount that the Participant then owes to the Company.

(f)Successors.  All rights under the Plan are personal to the Participant and without the prior written consent of the Committee shall not be assignable by the Participant.  The Plan shall inure to the benefit of and be enforceable by the Participant’s legal representative.  The Plan shall inure to the benefit of, and be binding upon, the Company and its successors and assigns.  Any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of Anterix shall be required to assume expressly and agree to perform the obligations set forth in the Plan in the same manner and to the same extent as the Company would be required to do so.

(g)Governing Law.  The Plan and all determinations made and actions taken pursuant to the Plan shall be governed by the substantive laws, but not the choice of law rules, of the State of Delaware or by United States federal law.

(h)Severability.  If any provision of the Plan is declared illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, the provision shall be reformed, if possible, to the extent necessary to render it legal, valid and enforceable, or otherwise deleted, and the remainder of the terms of the Plan shall not be affected except to the extent necessary to reform or delete such illegal, invalid or unenforceable provision.

(i)Notices.  Notices and all other communications provided for under the Plan shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by United States certified mail, return receipt requested, or by overnight courier, postage prepaid, to the Company’s corporate headquarters address, to the attention of the Committee, or to the Participant at the home address most recently communicated by the Participant to the Company in writing.

12

Exhibit 10.1
                                 

(j)409A Compliance.

The Plan is intended to comply with, or otherwise be exempt from, Code section 409A.  The preceding provision, however, shall not be construed as a guarantee by the Company of any particular tax effect to a Participant under the Plan.  The Company shall not be liable to a Participant for any payment made under the Plan, at the direction or with the consent of the Participant, which is determined to result in an additional tax, penalty or interest under Code section 409A, nor for reporting in good faith any payment made under the Plan as an amount includible in gross income under Code section 409A.

“Termination of employment,” or words of similar import, as used in this Plan means, for purposes of any payments under this Plan that are payments of deferred compensation subject to Code section 409A, the Participant’s “separation from service” as defined in Code section 409A.  For purposes of Code section 409A, the right to a series of installment payments under this Plan shall be treated as a right to a series of separate payments.

With respect to any reimbursement of expenses of, or any provision of in-kind benefits to, a Participant, as specified under this Plan: (1) the expenses eligible for reimbursement or the amount of in-kind benefits provided in one taxable year shall not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable year, except for any medical reimbursement arrangement providing for the reimbursement of expenses referred to in Code section 105(b); (2) the reimbursement of an eligible expense shall be made no later than the end of the year after the year in which such expense was incurred; and (3) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.

If a payment obligation under the Plan arises on account of a Participant’s termination of employment while a “specified employee” (as defined under Code section 409A and the regulations thereunder and determined in good faith by the Committee), any payment of “deferred compensation” (as defined under Treasury Regulation section 1.409A-1(b)(1), after giving effect to the exemptions in Treasury Regulation sections 1.409A-1(b)(3) through (b)(12)) shall be made within fifteen ( 15 ) days after the end of the six-month period beginning on the date of such termination of employment or, if earlier, within fifteen (15) days after appointment of the personal representative or executor of the Participant’s estate following the death of the Participant.

(k) Arbitration.  The Company and the Participant agree to attempt to resolve any dispute between them quickly and fairly.  Any dispute related to the Plan which remains unresolved shall be resolved exclusively by final and binding arbitration conducted within fifty ( 50) miles of the Company’s headquarters, pursuant to the then current rules of the American Arbitration Association with respect to employment disputes.  The Company shall bear any and all costs of the arbitration process plus, if a Participant substantially prevails on all issues raised in an arbitration related to the Plan that is commenced following a Change in Control, any reasonable attorneys’ fees incurred by the Participant with regard to such arbitration.

(a)Definitions

The following definitions apply to the Plan:

“Accrued Benefits” means (i) the Participant’s Base Salary through the date of termination of employment, (ii) any accrued but unused paid time off and floating holiday pay, and (iii) 
13

Exhibit 10.1
                                 

unreimbursed business expenses.  The Company will pay the Accrued Benefits to the Participant in a cash lump sum within ten (10) days after the Participant’s termination of employment with the Company.

“Affiliate” means any other entity, whether now or hereafter existing, which controls, is controlled by, or is under common control with, the Company (including, but not limited to, joint ventures, limited liability companies, and partnerships).

“Anterix” means Anterix Inc., a Delaware corporation.

“Base Salary” means the annual rate of base salary in effect as of the date of termination of employment, determined without regard to any reduction thereof that constitutes Good Reason.

“Board” means the Board of Directors of Anterix Inc.

“Cash Severance” means the amount specified in Section 5 (a) or Section 5(c ), as applicable.

“Cause” means the willful and continued failure of the Participant to substantially perform the Participant’s duties with the Company (other than any such failure resulting from incapacity due to physical or mental illness), as determined by the Board with respect to any Tier 1 Executive and as determined by the Company’s Chief Executive Officer with respect to any Tier 2 or 3 Executive no earlier than thirty (30) days after a written demand for substantial performance is delivered to the Participant, which specifically identifies the manner in which the Company believes that the Participant has willfully and continuously failed to substantially perform the Participant’s duties with the Company (provided, however, that with respect to any Tier 1 Executive, the failure to achieve individual or Company-based performance goals, budgets or targets shall not be deemed to be a failure of the Participant to perform their duties for purposes of this definition of Cause);

(i)the willful engaging by the Participant in illegal conduct or gross misconduct which is materially and demonstrably injurious to the Company or Participant’s ability to perform their duties with the Company; 

(ii)conviction (including a plea of guilty or nolo contendere) of a felony; or

(iii)a material breach of the restrictive covenants in Section 6(b) subject to the cure provisions provided in Section 6(b) of the Plan.

“Change in Control” means the effective date of the occurrence of any of the following events:

(i)any “person” (as such term, is used in Sections 13(d) and  14(d) of the Exchange Act) becomes the “beneficial owner” (as such term, is defined in Rule 13d -3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than thirty percent (30%) of the total Fair Market Value or total combined voting power of the Company’s then-outstanding securities entitled to vote generally in the election of Directors; provided, however, that a Change in Control shall not be deemed to have occurred if such degree of beneficial ownership results from any of the following: (A) an acquisition by any person who on the Effective Date is the beneficial owner of more than 
14

Exhibit 10.1
                                 

thirty percent (30%) of such voting power, (B) any acquisition directly from the Company, including, without limitation, pursuant to or in connection with a public offering of securities, (C) any acquisition by the Company, (D) any acquisition by a trustee or other fiduciary under an employee benefit plan of a Participating Company or (E) any acquisition by an entity owned directly or indirectly by the shareholders of the Company in substantially the same proportions as their ownership of the voting securities of the Company; or

(ii)an Ownership Change Event (as defined below) or series of related Ownership Change Events (collectively, a “Transaction ") in which the shareholders of the Company immediately before the Transaction do not retain immediately after the Transaction direct or indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding securities entitled to vote generally in the election of Directors or, in the case of an Ownership Change Event described in clause (iii) of that definition, the entity to which the assets of the Company were transferred (the “Transferee”), as the case may be; or

(iii)a majority of members of the Incumbent Directors (as defined below) is replaced during any twelve (12) month period;

provided, however, that a Change in Control shall be deemed not to include an event described in subsection (i) until the earlier of (a) the person has two or more representatives on the Board of Directors or (b) the person becomes the “beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the total Fair Market Value or total combined voting power of the Company’s then-outstanding securities entitled to vote generally in the election of Directors.

For purposes of subsections (i) and (ii), indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company or the Transferee, as the case may be, either directly or through one or more subsidiary corporations or other business entities.

In addition, for purposes of subsections (i) and (ii), the Committee shall determine whether multiple acquisitions of the voting securities of the Company and/or multiple Ownership Change Events are related and to be treated in the aggregate as a single Change in Control, and its determination shall be final, binding and conclusive.

For purposes of this definition of Change in Control, “Incumbent Director “means a director who either (i) is a member of the Board as of the Effective Date or (ii) is elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but excluding a director who was elected or nominated in connection with an actual or threatened proxy contest relating to the election of directors of the Company or at the request of a person who is the “beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than five percent (5%) of the total Fair Market Value or total combined voting power of the Company’s then-outstanding securities entitled to vote generally in the election of Directors); and “Ownership Change Event” means the occurrence of any of the following with respect to the Company: (i) the direct or indirect sale or exchange in a single or series of related transactions by the shareholders of the Company of securities of the Company representing more than fifty percent (50%) of the total combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of Directors; (ii) a merger or consolidation in which the Company is a party; or (iii) the sale, exchange, or 
15

Exhibit 10.1
                                 

transfer of all or substantially all of the assets of the Company (other than a sale, exchange or transfer to one or more subsidiaries of the Company). 

“Code” means the Internal Revenue Code of 1986, as amended, and the regulations and Treasury guidance promulgated under it.

“Committee” means the Compensation Committee of the Board.  The Committee may delegate some or all of its authority under the Plan to any person, persons or subcommittee, in which event, the term “Committee” includes such person, persons or subcommittee to the extent of such delegation.
“Company” means Anterix  Inc. and any Affiliate.
“Competitive Activity” means any design, development, sale, promotion, production, marketing, licensing, distribution or provision of any service, technology, product or product feature that is, directly or indirectly, or is intended to be, competitive with one or more services, technologies, products or product features provided by the Company Group.
“Competitor of the Company Group” means any Person that is engaged or preparing to engage in any Competitive Activity.

“Disability” means incapacity due to physical or mental illness which has rendered the Participant unable effectively to carry out their duties and obligations to the Company or unable to participate effectively and actively in the management of the Company for a period of ninety (90) consecutive days or for shorter periods aggregating to one-hundred twenty (120) days (whether or not consecutive) during any consecutive twelve (12) months.
“Effective Date” has the meaning specified in Section 2.
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations and guidance promulgated under it. 
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and guidance promulgated under it.

“Good Reason” means, without the Participant’s consent:

(i)a material diminution in the Participant’s Base Salary, other than a material diminution that results from a determination by both the President/CEO and the Chairman that the Company’s financial condition is such that a reduction in compensation is appropriate and the reduction is applied uniformly to all Company officers;

(ii)a material diminution in the Participant’s authority, duties, or responsibilities, which shall include (A) with respect to any Participant who is a member of the Board, any failure of the Board to appoint or the stockholders of the Company to elect such Participant as a member of the Board, or any removal of Participant from the Board for reasons other than Cause, and (B) with respect to any Participant who is a Tier 1 Executive, following a Change of Control, a material change in the Company’s long-term business plan or its strategy to increase the value of its FCC licenses; or
16

Exhibit 10.1
                                 

(iii)any requirement that the Participant relocate, by more than fifty (50) miles, the principal location from which the Participant performs services for the Company immediately prior to the termination of employment or the occurrence of the Change in Control.
It shall be a condition precedent to the Participant’s right to terminate Participant’s employment for Good Reason (before or after a Change in Control) that (i) the Participant shall have first given the Company written notice stating with reasonable specificity the breach on which such termination is premised within ninety (90) days after the Participant becomes aware or should have become aware of such breach, and (ii) if such breach is susceptible of cure or remedy, such breach has not been cured or remedied within fifteen (15) days after receipt of such notice.

“Health Benefit Continuation” means payment by the Company of the premium for COBRA coverage, if elected by the Participant and their eligible dependents, upon loss of coverage under the Company’s group health plan for active employees of the Company due to termination of employment, until the earlier of (i) the end of the Severance Payment Period, (ii) the date that the Participant becomes eligible for coverage under another group health plan, or (iii) the end of the eighteen (18) month maximum COBRA coverage period.

“Outplacement Assistance” means payment by the Company of the cost of providing outplacement services for a period of twelve (12) months at a cost not exceeding $25,000 for each Tier 1 and Tier 2 Executive and for a period of nine (9) months at a cost not exceeding $15,000 for each Tier 3 Executive, so long as (i ) the Participant commences utilization of the services within six months following the date of termination of employment; and (ii) the services are provided by a recognized outplacement provider. Payment shall be made by the Company directly to the service provider promptly following the provision of the outplacement services and the presentation to the Company of documentation of the provision of the services, and in all events by no later than the end of the year after the year in which such expense was incurred.

“Participant” means a person who has become a participant pursuant to Section 4 of the Plan.

“Participation Agreement” means a written agreement with the Company in such form as the Committee may specify which obligates the Participant to comply with all of the terms and conditions of participation in the Plan and, with respect to any Participant who is a Tier 3 Executive, which specifies the Severance Benefits payable to such Participant.

“Plan” means this Anterix Inc. Executive Severance Plan. 

“Restricted Period” means twenty-four (24) months for a Tier 1 Executive, twelve (12) months for a Tier 2 Executive, and six (6) months for a Tier 3 Executive.

“Section 16 Officer” means those executives designated by an act of the Board as an officer for purposes of Section 16 of the Securities Exchange Act of 1934.
“Severance Benefits” means the benefits specified in Section 5 of this Plan.
“Severance Payment Period” means twenty-four (24) months for a Tier 1 Executive, twelve (12) months for a Tier 2 Executive, and six (6)  for a Tier 3 Executive.
17

Exhibit 10.1
                                 

“Target Bonus” means the Participant’s short-term incentive bonus target in effect on the Participant’s date of termination of employment, provided, however, that following a Change in Control, the Target Bonus shall be the greater of (1) the Participant’s short-term incentive bonus target in effect on the Participant’s date of termination of employment, and (2) the Participant’s short-term incentive bonus target in effect on the date of the Change in Control.
“Tier 1 Executives” means Morgan O’Brien, Rob Schwartz, Tim Gray, Ryan Gerbrandt, Gena Ashe,  Chris Gutmann-McCabe and such other Section 16 Officers as the Committee shall specify from time to time.
“Tier 2 Executives” means all Section 16 Officers of the Company who are not classified as a Tier 1 Executive and such other executives as the Committee shall specify from time to time.

“Tier 3 Executives” means such other severance-eligible employees as the Committee may specify from time to time.

Adopted: February 18, 2015
Amended:     February 12, 2019
July 27, 2021
August 9, 2022
18

Exhibit 10.1
                                 

EXHIBIT A
WAIVER AND RELEASE AGREEMENT

THIS WAIVER AND RELEASE AGREEMENT (this “Agreement”) is entered into as of [  ], by [                                   ] (the” Executive”) in consideration of severance pay and benefits (the” Severance”)  provided to the Executive by PdvWireless, Inc., a Delaware corporation (the” Corporation”),  pursuant to the Anterix Inc. Executive Severance Plan (the” Severance Plan”).

1. Waiver and Release. Subject to the last sentence of the first paragraph of this Section I, the Executive, on his own behalf and on behalf of Executive’s heirs, executors, administrators, attorneys and assigns, hereby unconditionally and irrevocably releases, waives and forever discharges the Corporation and each of its affiliates, parents, successors, predecessors, and the subsidiaries, directors, owners, members, shareholders, officers, agents, and employees of the Corporation and its affiliates, parents, successors, predecessors, and subsidiaries (collectively, all of the foregoing are referred to as the (“Employer”), from any and all causes of action, claims and damages, including attorneys’ fees, whether known or unknown, foreseen or unforeseen, presently asserted or otherwise arising through the date of Executive’s signing of this Release, concerning Executive’s employment or separation from employment. Subject to the last sentence of the first paragraph of this Section, this Release includes, but is not limited to, any payments, benefits or damages arising under any federal law (including, but not limited to, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act, Executive Order 11246, the Family and Medical Leave Act, and the Worker Adjustment and Retraining Notification Act, each as amended); any claim arising under any state or local laws, ordinances or regulations (including, but not limited to, any state or local laws, ordinances or regulations requiring that advance notice be given of certain workforce reductions); and any claim arising under any common law principle or public policy, including, but not limited to, all suits in tort or contract, such as wrongful termination, defamation, emotional distress, invasion of privacy or loss of consortium. Notwithstanding any other provision of this Release to the contrary, this Release does not encompass, and Executive does not release, waive or discharge, the obligations of the Corporation or any affiliate (a) to make the payments and provide the other benefits contemplated by the Severance Plan, or (b) under any restricted stock agreement, option agreement or other agreement pertaining to Executive’s equity ownership, or (c) under any indemnification or similar agreement with Executive.

The Executive understands that by signing this Release, Executive is not waiving any claims or administrative charges which cannot be waived by law.  Executive is waiving, however, any right to monetary recovery or individual relief should any federal, state or local agency (including the Equal Employment Opportunity Commission) pursue any claim on Executive’s behalf arising out of or related to Executive’s employment with and/or separation from employment with the Corporation or any affiliate.

The Executive further agrees without any reservation whatsoever never to sue the Employer or become a party to a lawsuit on the basis of any and all claims of any type lawfully and validly released in this Release.

2.  Acknowledgments. The Executive is signing this Release knowingly and voluntarily.  Executive acknowledges that:
19

Exhibit 10.1
                                 

a.Executive is hereby advised in writing to consult an attorney before signing this Release;

b.Executive has relied solely on Executive’s own judgment and/or that of Executive’s attorney regarding the consideration for and the terms of this Release and is signing this Release knowingly and voluntarily of Executive’s own free will;

c.Executive is not entitled to the Severance unless Executive agrees to and honors the terms of this Release;

d.Executive has been given at least twenty-one (21) calendar days to consider this Release, or Executive has expressly waived Executive’s right to have at least twenty-one (21) days to consider this Release;

e.Executive may revoke this Release within seven (7) calendar days after signing it by submitting a written notice of revocation to the Employer.  Executive further understands that this Release is not effective or enforceable until after the seven (7) day period of revocation has expired without revocation, and that if Executive revokes this Release within the seven (7) day revocation period, Executive will not receive the Severance;

f.Executive has read and understands the Release and further understands that, subject to the limitations contained herein, it includes a general release of any and all known and unknown, foreseen or unforeseen claims presently asserted or otherwise arising through the date of Executive’s signing of this Release that Executive may have against the Employer; and

g.No statements made or conduct by the Employer has in any way coerced or unduly influenced Executive to execute this Release.

3.  No Admission of Liability.  This Release does not constitute an admission of liability or wrongdoing on the part of the Employer, the Employer does not admit there has been any wrongdoing whatsoever against Executive, and the Employer expressly denies that any wrongdoing has occurred.

4.  Entire Agreement. There are no other agreements of any nature between the Employer and the Executive with respect to the matters discussed in this Release, except as expressly stated herein, and in signing this Release, the Executive is not relying on any agreements or representations, except those expressly contained in this Release.

5.  Execution. It is not necessary that the Employer sign this Release following the Executive’s full and complete execution of it for it to become fully effective and enforceable.

6.  Severability.  If any provision of this Release is found, held or deemed by a court of competent jurisdiction to be void, unlawful or unenforceable under any applicable statute or controlling law, the remainder of this Release shall continue in full force and effect.

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Exhibit 10.1
                                 

7.  Governing Law.  This Release shall be governed by the laws of the State of Delaware, excluding the choice of law rules thereof.
8.  Headings. Section and subsection headings contained in this Release are inserted for the convenience of reference only.  Section and subsection headings shall not be deemed to be a part of this Release for any purpose, and they shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof.

IN WITNESS WHEREOF, the undersigned has duly executed this Release as of the day and year first hereinabove written.

EXECUTIVE ________________
21

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