Document:

Exhibit 4.3

 

Execution Copy

 

 

FIFTH SUPPLEMENTAL INDENTURE

 

between

 

JACKSON
FINANCIAL INC.,

ISSUER,

 

AND

 

The Bank
of New York Mellon Trust Company, N.A.,

TRUSTEE

 

DATED AS OF JUNE 8,
2022

 

5.670% SENIOR NOTES DUE 2032

 

 

     

     

    

 

Table
of Contents

 

Page

 

	ARTICLE I

                                                                                Notes

	SECTION 1.01   Definitions	1
	SECTION 1.02   Establishment	3
	SECTION 1.03   Payment of Principal and Interest	3
	SECTION 1.04   Global Securities	4
	SECTION 1.05   Defeasance	5
	SECTION 1.06   No Sinking Fund	5
	SECTION 1.07   Redemption at the Option of the Company	6
	SECTION 1.08   Reporting Covenant	7
	ARTICLE II 

Miscellaneous Provisions
	SECTION 2.01   Effectiveness	8
	SECTION 2.02   Notes Unaffected by Other Supplemental Indentures	8
	SECTION 2.03   Trustee Not Responsible for Recitals	8
	SECTION 2.04   Ratification and Incorporation of Base Indenture	9
	SECTION 2.05   Governing Law	9
	SECTION 2.06   Separability	9
	SECTION 2.07   Executed in Counterparts	9

 

EXHIBITS

 

	Exhibit A	Form of Notes

 

    i

     

    

 

FIFTH SUPPLEMENTAL INDENTURE, dated as of June
8, 2022 (this “Fifth Supplemental Indenture”), between Jackson Financial Inc., a Delaware corporation (the “Company”),
and The Bank of New York Mellon Trust Company, N.A., not in its individual capacity but solely in its capacity as trustee hereunder (together
with its successors and assigns in such capacity, the “Trustee”), supplementing the Indenture, dated as of November
23, 2021 (the “Base Indenture”), between the Company and the Trustee.

 

Recitals

 

WHEREAS, the Company executed and delivered the
Base Indenture to the Trustee to provide for the future issuance of the Company’s senior debt securities (the “Securities”),
to be issued from time to time in one or more series as might be determined by the Company under the Base Indenture;

 

WHEREAS, pursuant to the terms of the Base Indenture
and this Fifth Supplemental Indenture (together, the “Indenture”), the Company has duly authorized the creation and
issuance of its 5.670% Senior Notes due 2032 (the “Notes”) in an initial aggregate principal amount of $350,000,000,
the form and substance of such Notes, and the terms, provisions and conditions thereof to be set forth herein as provided in the Indenture;

 

WHEREAS, the Company has requested that the Trustee,
in respect to the Notes, execute and deliver this Fifth Supplemental Indenture in such capacity; and

 

WHEREAS, all requirements necessary to make this
Fifth Supplemental Indenture a valid instrument in accordance with its terms and to make the Notes, when executed by the Company and authenticated
and delivered by the Trustee or an Authenticating Agent, the valid obligations of the Company, have been done and performed, and the execution
and delivery of this Fifth Supplemental Indenture has been duly authorized in all respects;

 

NOW THEREFORE, in consideration of the purchase
and acceptance of the Notes by the holders thereof, and for the purpose of setting forth, as provided in the Indenture, the form and substance
of the Notes, and the terms, provisions and conditions thereof, the parties hereto hereby agree as follows:

 

ARTICLE I

Notes

 

		SECTION	1.01          
Definitions.

 

Unless the context otherwise requires or unless
otherwise set forth herein:

 

    1

     

    

 

(a)              
 a term not defined herein that is defined in the Base Indenture, has the same meaning when used in this Fifth Supplemental Indenture;

 

(b)              
the definition of any term in this Fifth Supplemental Indenture that is also defined in the Base Indenture, shall for the purposes
of this Fifth Supplemental Indenture supersede the definition of such term in the Base Indenture;

 

(c)              
a term defined anywhere in this Fifth Supplemental Indenture has the same meaning throughout;

 

(d)              
the definition of a term in this Fifth Supplemental Indenture is not intended to have any effect on the meaning or definition of
an identical term that is defined in the Base Indenture insofar as the use or effect of such term in the Base Indenture, as previously
defined, is concerned;

 

(e)              
the singular includes the plural and vice versa;

 

(f)               
headings are for convenience of reference only and do not affect interpretation; and

 

(g)              
the following terms have the meanings given to them in this Section 1.01(g):

 

“Interest Payment Date” shall
mean June 8 and December 8 of each year, commencing on December 8, 2022.

 

“Notes” means the Company’s
5.670% Senior Notes due 2032 that are issued under this Indenture, as amended or supplemented from time to time.

 

“Original Issue Date” means
June 8, 2022.

 

“Par Call Date” means March
8, 2032.

 

“Redemption Date” means the
date fixed for the redemption of the Notes by or pursuant to the Indenture.

 

“Regular Record Date” means
with respect to each Interest Payment Date, the close of business on each May 23 and November 23, as the case may be (whether or not a
Business Day) immediately preceding June 8 or December 8.

 

“Stated Maturity” means June
8, 2032.

 

    2

     

    

 

		SECTION	1.02          
                                            Establishment.

 

(a)              
There is hereby established a new series of Securities to be issued under the Indenture, to be designated as the Company’s
 “5.670% Senior Notes due 2032”.

 

(b)              
There are to be authenticated and delivered the Notes, in an initial aggregate principal amount of $350,000,000. No further Notes
shall be authenticated and delivered, except as provided by Sections 2.04, 2.05, 2.07, 2.11, 3.03 or 9.04 of the Base Indenture; provided,
however, that the aggregate principal amount of the Notes may be increased in the future with no limit, without notice to or the
consent of the holders of the Notes, on the same terms and with the same CUSIP and ISIN numbers as the Notes, except for any difference,
if applicable, in the issue price, issue date, the first Interest Payment Date and the initial interest accrual date; provided
that no Event of Default with respect to the Notes shall have occurred and be continuing. The Notes shall be issued in fully registered
form.

 

(c)              
The Notes shall be issued in the form of one or more Global Securities, registered in the name of the Depositary (as defined below)
or its nominee. Each Note and the Trustee’s or Authenticating Agent’s Certificate of Authentication thereof, shall be in substantially
the form set forth in Exhibit A hereto. The depositary with respect to the Notes shall be The Depository Trust Company (the “Depositary”).

 

(d)              
Any additional Notes authenticated and delivered pursuant to Section 1.02(b) shall be governed by this Fifth Supplemental Indenture
and shall rank equal in right of payment with the Notes issued on the date of this Fifth Supplemental Indenture and, together with the
Notes, shall be treated as a single series of Notes for all purposes.

 

(e)              
Each Note shall be dated the date of authentication thereof and shall bear interest from the Original Issue Date or from the most
recent Interest Payment Date to which interest has been paid or duly provided for to, but excluding, the Stated Maturity or any earlier
Redemption Date.

 

		SECTION	1.03          
Payment of Principal and Interest.

 

(a)               The
principal of the Notes shall be due at the Stated Maturity. The unpaid principal amount of the Notes shall bear interest at the rate
of 5.670% per year until paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date,
commencing on December 8, 2022, to the Person in whose name the Notes are registered
on the Regular Record Date for such Interest Payment Date; provided that interest payable at the Stated Maturity or on a
Redemption Date (in each case, whether or not an Interest Payment Date) will be paid to the Person to whom principal is payable. Any
such interest that is not so punctually paid or duly provided for will forthwith cease to be payable to the holders of Notes on such
Regular Record Date and may be paid as provided in Section 2.03 of the Base Indenture.

 

    3

     

    

 

(b)              
Payments of interest on the Notes will include interest accrued to but excluding the respective Interest Payment Dates. Interest
payments for the Notes shall be computed and paid on the basis of a 360-day year consisting of twelve 30-day months.

 

(c)              
If any date on which interest is payable on the Notes is not a Business Day, then payment of the interest payable on such date
will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay),
except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business
Day, in each case with the same force and effect as if made on the date the payment was originally payable.

 

(d)              
The Trustee is hereby designated as Security Registrar and Paying Agent for the Notes and all payments of the principal of, and
premium, if any, and interest due on the Notes at the Stated Maturity or upon redemption will be made upon surrender of the Notes at the
Corporate Trust Office of the Trustee in New York.

 

(e)              
The principal of, and premium, if any, and interest due on the Notes shall be paid in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts. Payments of interest (including interest
on any Interest Payment Date) will be made, subject to such surrender where applicable and subject, in the case of a Global Security,
to the Trustee’s or Paying Agent’s arrangements with the Depositary, at the option of the Company, (i) by check mailed
to the address of the Person entitled thereto as such address shall appear in the Security Register, or (ii) by wire transfer at
such place and to such account at a banking institution in the United States of America as may be designated in writing to the Trustee
and Paying Agent at least 15 days prior to the date for payment by the Person entitled thereto.

 

		SECTION	1.04          
Global Securities.

 

(a)              
Except under the limited circumstances described below, Notes represented by Global Securities will not be exchangeable for, and
will not otherwise be issuable as, Notes in definitive form. The Global Securities described above may not be transferred except by the
Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or
to a successor Depositary or a nominee of the successor Depositary.

 

(b)              
 Except as otherwise provided in this Fifth Supplemental Indenture, owners of beneficial interests in such Global Securities will
not be considered the holders thereof for any purpose under the Indenture, and no Global Security representing a Note shall be exchangeable,
except for another Global Security of like denomination and to be registered in the name of the Depositary or its nominee or to a successor
Depositary or its

 

    4

     

    

 

nominee. The rights of holders of such Global Securities shall be exercised only through the Depositary.

 

(c)              
A Global Security shall be exchangeable in whole or, from time to time, in part for Notes in definitive registered form only as
provided in the Indenture. If (i) at any time the Depositary notifies the Company that it is unwilling or unable to continue as Depositary
for the Notes or if at any time the Depositary shall no longer be registered or in good standing as a “clearing agency” registered
pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation,
at such time as the Depositary is required to be so registered and the Depositary so notifies the Company and, in each case, the Company
does not appoint a successor Depositary within 90 days after the Company receives such notice or becomes aware of such condition, as the
case may be or (ii) subject to the procedures of the Depositary, the Company in its sole discretion determines that the Notes shall be
exchangeable for Notes in definitive registered form and executes and, in each case, delivers to the Trustee or an Authenticating Agent
a written order of the Company providing that the Notes shall be so exchangeable, the Notes shall be exchangeable for Notes in definitive
registered form; provided that the definitive Notes so issued in exchange for the Notes shall be in denominations of $2,000 and
any integral multiple of $1,000 in excess thereof, and be of like aggregate principal amount and tenor as the portion of the Notes to
be exchanged. Except as provided herein, owners of beneficial interests in the Notes will not be entitled to have Notes registered in
their names, will not receive or be entitled to physical delivery of Notes in definitive registered form and will not be considered the
holders thereof for any purpose under the Indenture. None of the Company, the Trustee, any Paying Agent nor the Security Registrar shall
have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests
in the Notes, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. Any Global Security
that is exchangeable pursuant to this Section 1.04(c) shall be exchangeable for Notes registered in such names as the Depositary shall
direct.

 

		SECTION	1.05          
Defeasance.

 

The provisions of Sections 13.02 and 13.03 of the
Base Indenture will apply to the Notes. An election by the Company to defease the Notes may be evidenced by a Certificate.

 

		SECTION	1.06          
                                            No Sinking Fund.

  

The Notes shall not be entitled to any sinking
fund, and Sections 3.04, 3.05 and 3.06 of the Base Indenture will not apply to the Notes.

 

    5

     

    

 

		SECTION	1.07          
Redemption at the Option of the Company.

 

(a)              
The provisions of Sections 3.01, 3.02 and 3.03, as supplemented by the terms of this Fifth Supplemental Indenture, will apply to
the Notes.

 

(b)              
At any time and from time to time prior to the Par Call Date, the Notes will be redeemable at the Company’s option, in whole
or in part, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater
of (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption
Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at the Treasury Rate plus 45 basis points, less (b) interest accrued to the Redemption Date, and (2) 100% of the principal amount of the
Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the Redemption Date.

 

(c)              
At any time and from time to time on or after the Par Call Date, the Notes will be redeemable at the Company’s option, in
whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest
thereon to the Redemption Date.

 

For purposes of this Section 1.07:

 

“Treasury Rate” means, with
respect to any redemption date, the yield determined by the Company in accordance with the following two paragraphs.

 

The Treasury Rate shall be determined by the
Company as of 4:15 p.m., New York City time (or as of such time as yields on U.S. government securities are posted daily by the
Board of Governors of the Federal Reserve System), on the third business day preceding the redemption date based upon the yield or
yields for the most recent day that appear as of such time on such day in the most recent statistical release published by the Board
of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) - H.15” (or any successor
designation or publication) (“H.15”) under the caption “U.S. government securities–Treasury constant
maturities–Nominal” (or any successor caption or heading) (“H.15 TCM”). In determining the Treasury
Rate, the Company shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period
from the redemption date to the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury
constant maturity on H.15 exactly equal to the Remaining Life, the two yields – one yield corresponding to the Treasury
constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately
longer than the Remaining Life – and shall interpolate to the Par Call Date on a straight-line basis (using the actual number
of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity on
H.15 shorter than or longer than the Remaining

 

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Life, the yield for the
single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant
maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable,
of such Treasury constant maturity from the redemption date.

 

If on the third business day preceding the redemption
date H.15 TCM is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual
equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption date of the United
States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United States
Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally
distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call
Date, the Company shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there are two
or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria
of the preceding sentence, the Company shall select from among these two or more United States Treasury securities the United States Treasury
security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities
at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield
to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as
a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal
places.

 

The Company’s actions and determinations
in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error. The Trustee will have no
duty to calculate or verify the calculation of the redemption price.

 

(d)               Notwithstanding
Section 3.02 of the Base Indenture, the notice of redemption with respect to any redemption pursuant to Section 3.01 need not set
forth the Redemption Price but only the manner of calculation thereof as described above. Notice of any redemption shall be mailed
or electronically delivered (or otherwise transmitted in accordance with the Depositary’s procedures) at least 10 days but not
more than 60 days before the Redemption Date to each holder of Notes to be redeemed.

 

		SECTION	1.08          
Reporting Covenant.

 

(a)              
For so long as the Company is subject to the reporting requirements of Section 13 or Section
15(d) of the Exchange Act, the Company shall file with the Trustee and make available to the holders of the Securities (without exhibits),
without cost to any holder, copies of all documents that the Company files with, or furnishes to, the

 

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Commission under the Exchange Act,
within 15 days after the Company files them with, or furnishes them to, the Commission. Any such documents that are publicly available
through the EDGAR system of the Commission (or any successor system) shall be deemed to have been filed with the Trustee and made available
to holders in accordance with the Company’s obligations under this Section 1.08. If at any time the Company is not subject to Section
13 or Section 15(d) of the Exchange Act, and to the extent not satisfied by the foregoing, the Company will make available to the holders
of the Securities and to prospective investors, for so long as any Securities are outstanding, in accordance with the rules and regulations
prescribed from time to time by the Commission, such information as may be required pursuant to Rule 144A(d)(4) of the Securities Act.

 

(b)              
Delivery of such reports, statements, information and documents to the Trustee shall be for
informational purposes only and the Trustee’s receipt of such reports, information and documents shall not constitute actual or
constructive notice of any information contained therein or determinable from information contained therein, including the Company’s
compliance with any of the covenants contained in this Indenture (as to which the Trustee will be entitled to conclusively rely upon an
Officers’ Certificate). The Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the Company’s
compliance with the covenants or with respect to any reports or other documents filed with the SEC or EDGAR or any website under the Indenture.

 

ARTICLE II

Miscellaneous Provisions

 

		SECTION	2.01          
Effectiveness.

 

This Fifth Supplemental Indenture will become effective
upon its execution and delivery .

 

		SECTION	2.02          
                                            Notes Unaffected by Other Supplemental Indentures.

 

To the extent the terms of the Base Indenture are
amended as provided herein, no such amendment shall in any way affect the terms of any other supplemental indenture or any other series
of Securities. This Fifth Supplemental Indenture shall relate and apply solely to the Notes.

 

		SECTION	2.03          
Trustee Not Responsible for Recitals.

 

The recitals herein contained are made by the Company
and not by the Trustee or the Agents, and neither the Trustee nor the Agents assume any responsibility for the correctness thereof. Neither
the Trustee nor the Agents make any representation as to the validity or sufficiency of this Fifth Supplemental Indenture or the Notes.

 

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		SECTION	2.04          
Ratification and Incorporation of Base Indenture.

 

As supplemented hereby, the Base Indenture is in
all respects ratified and confirmed, and the Base Indenture and this Fifth Supplemental Indenture shall be read, taken and construed as
one and the same instrument.

 

		SECTION	2.05          
Governing Law.

 

THIS FIFTH SUPPLEMENTAL INDENTURE SHALL BE DEEMED
TO BE A CONTRACT MADE UNDER THE INTERNAL LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.

 

		SECTION	2.06          
Separability.

 

In case any one or more of the provisions contained
in this Fifth Supplemental Indenture or in the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provisions of this Fifth Supplemental Indenture or of the Notes,
but this Fifth Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never
been contained herein or therein.

 

		SECTION	2.07          
                                            Executed in Counterparts.

 

This Fifth Supplemental Indenture may be executed
in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same
instrument. The words “execution,” “signed,” “signature,” and
words of like import in this Fifth Supplemental Indenture shall include images of manually
executed signatures transmitted by facsimile, email or other electronic format (including, without limitation, “pdf,” “tif”
or “jpg”) and other electronic signatures (including without limitation, DocuSign and AdobeSign or any other similar platform
identified by the Company and reasonably available at no undue burden or expense to the Trustee). The use of electronic signatures and
electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored
by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based
record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any
state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code. Without limitation to the foregoing, and anything
in the Fifth Supplemental Indenture to the contrary notwithstanding, (a) any Officers’
Certificate, company order, Opinion of Counsel, Security, amendment, notice, direction, certificate of

 

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authentication appearing on or
attached to any Security, supplemental indenture or other certificate, opinion of counsel, instrument, agreement or other document delivered
pursuant to this Fifth Supplemental Indenture may be executed, attested and transmitted by
any of the foregoing electronic means and formats and (b) all references in this Fifth Supplemental Indenture to
the execution, attestation or authentication of any Security or any certificate of authentication appearing on or attached to any Security
by means of a manual or facsimile signature shall be deemed to include signatures that are made or transmitted by any of the foregoing
electronic means or formats. The Trustee shall have no duty to inquire into or investigate the authenticity or authorization of any such
electronic signature and shall be entitled to conclusively rely on any such electronic signature without any liability with respect thereto.

 

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In Witness
Whereof, the parties hereto have caused this Fifth Supplemental Indenture to be duly executed by their respective officers thereunto
duly authorized, all as of the day and year first above written.

 

	 	JACKSON FINANCIAL INC.,
	 	as Issuer
	 	 
	 	By:	/s/
    Marica Wadsten
	 	Name: Marcia Wadsten
	 	Title: Executive Vice President and
    Chief Financial Officer
	 	 
	 	THE BANK OF NEW YORK MELLON TRUST
    COMPANY, N.A.,

    as Trustee
	 	 
	 	By:	/s/ Ann Dolezal
	 	Name: Ann M. Dolezal
	 	Title: Vice President

 

[Jackson Financial Inc.
Senior Notes Offering 2022

— Fifth Supplemental
Indenture]

 

    

     

    

 

EXHIBIT A

 

(FORM OF 5.670% SENIOR NOTES DUE 2032)

 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING
OF THE BASE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A NOMINEE OF THE DEPOSITORY. UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), A NEW YORK CORPORATION, TO JACKSON FINANCIAL
INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

EXCEPT AS OTHERWISE PROVIDED IN SECTION 1.04 OF
THE FIFTH SUPPLEMENTAL INDENTURE, THIS NOTE MAY BE TRANSFERRED IN WHOLE, BUT NOT IN PART, ONLY TO DTC, TO ANOTHER NOMINEE OF DTC OR TO
A SUCCESSOR DEPOSITARY OR TO A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

 

		No. [l] 	CUSIP No.: 46817M AS6 / US46817MAS61

 

Jackson
Financial Inc.

 

Global Certificate initially representing

$[●] aggregate principal amount of

5.670% Senior Notes due 2032

 

	Regular Record Date:	With respect to each Interest Payment Date, the close of business on each May 23 and November 23, as the case may be (whether or not a Business Day) immediately preceding June 8 or December 8.
	Original Issue Date:	
    June 8, 2022

     

	Stated Maturity:	June 8, 2032

 

    A-1

     

    

 

EXHIBIT A

 

	Interest Payment Dates:	June 8 and December 8 of each year, commencing December 8, 2022
	Interest Rate:	5.670% per year
	Authorized Denomination:	$2,000 and any integral multiple of $1,000 in excess thereof

 

This Global Certificate is in respect of a duly
authorized issue of 5.670% Senior Notes due 2032 (the “Notes”) of Jackson Financial Inc., a Delaware corporation (the
 “Company,” which term includes any successor corporation under the Indenture referred to on the reverse hereof). The
Company, for value received, hereby promises to pay to Cede & Co., or registered assigns, the amount of principal of the Notes represented
by this Global Certificate on the Stated Maturity shown above, and to pay interest thereon from the Original Issue Date shown above, or
from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on each Interest
Payment Date as specified above, commencing December 8, 2022, and on the Stated Maturity at the Interest Rate per year shown above until
the principal hereof is paid or made available for payment and on any overdue principal and on any overdue installment of interest at
such rate to the extent permitted by law. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date
(other than an Interest Payment Date that is the Stated Maturity or any Redemption Date) will, as provided in the Indenture, be paid to
the Person in whose name this Note is registered at the close of business on the Regular Record Date as specified above next preceding
such Interest Payment Date, provided that any interest payable at Stated Maturity or on any Redemption Date will be paid to the
Person to whom principal is payable. Any such interest that is not so punctually paid or duly provided for will forthwith cease to be
payable to the holders on such Regular Record Date and may be paid as provided in Section 2.03 of the Base Indenture.

 

Payments of interest on this Note will include
interest accrued to but excluding the respective Interest Payment Dates. Interest payments for this Note shall be computed and paid on
the basis of a 360-day year consisting of twelve 30-day months. In the event that any date on which interest is payable on this Note is
not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and
without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar
year, payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date
the payment was originally payable.

 

Payment of the principal of, and premium, if any,
and interest due on this Note at the Stated Maturity or upon redemption will be made upon surrender of this Note Corporate Trust Office
of the Trustee in the Borough of Manhattan, the City and State of

 

    A-2

     

    

 

 

EXHIBIT A

 

New York. The principal of, and premium, if any, and interest due on this
Note shall be paid in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts. Payment of interest (including interest on any Interest Payment Date) will be made, subject to such
surrender where applicable and subject to the Trustee’s or any Paying Agent’s arrangements with the Depositary, at the
option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the
Security Register, or (ii) by wire transfer at such place and to such account at a banking institution in the United States of
America as may be designated in writing to the Trustee and Paying Agent at least 15 days prior to the date for payment by the Person
entitled thereto.

 

This Note is an unsecured obligation of the Company
ranking equally in right of payment with all of the Company’s existing and future unsecured and unsubordinated indebtedness. This
Note ranks senior in right of payment to any subordinated indebtedness of the Company.

 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS
OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT
THIS PLACE.

 

Unless the certificate of authentication hereon
has been executed by the Trustee or an Authenticating Agent by manual or electronic signature, this Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any purpose.

 

    A-3 

     

    

 

EXHIBIT A

 

IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed.

 

Dated:

 

	 	JACKSON FINANCIAL INC.
	 	 
	 	By:	              
	 	Name:
	 	Title:

 

    A-4 

     

    

 

Certificate
of Authentication

 

This is one of the Notes referred to in the within
mentioned Indenture.

 

	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
	 	as
    Trustee
	 	 
	 	By:	          
	 	 	Authorized Signatory

 

Dated:

 

    A-5 

     

    

 

(Reverse of Note)

 

5.670% Senior Notes due 2032

 

1.                 
This Note is one of a duly authorized issue of senior debt securities of the Company (the “Securities”) issued
and issuable in one or more series under an Indenture, dated as of November 23, 2021 (the “Base Indenture”), as supplemented
by the Fifth Supplemental Indenture, dated as of June 8, 2022 (the “Fifth Supplemental Indenture,” and together with
the Base Indenture, the “Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee
(the “Trustee”), to which the Indenture and all indentures supplemental thereto reference is hereby made for a statement
of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the holders of the Notes
issued thereunder and of the terms upon which said Notes are, and are to be, authenticated and delivered. This Note is one of the series
designated on the face hereof as the 5.670% Senior Notes due 2032. Capitalized terms used herein for which no definition is provided herein
shall have the meanings set forth in the Indenture.

 

2.                  This
Note is exchangeable in whole or, from time to time, in part for Notes in definitive registered form only as provided herein and in
the Indenture. If (i) at any time the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for
this Note or if at any time the Depositary shall no longer be registered or in good standing as a “clearing agency”
registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended, or other applicable statute
or regulation, at such time as the Depositary is required to be so registered and the Depositary so notifies the Company and, in
each case, the Company does not appoint a successor Depositary within 90 days after the Company receives such notice or becomes
aware of such condition, as the case may be, (ii) any Event of Default or Default has occurred and is continuing with respect to the
Notes or (iii) subject to the procedures of the Depositary, the Company in its sole discretion determines that this Note shall be
exchangeable for Notes in definitive registered form and executes and delivers to the Security Registrar a written order of the
Company providing that this Note shall be so exchangeable, this Note shall be exchangeable for Notes in definitive registered form,
provided that the definitive Notes so issued in exchange for this Note shall be in denominations of $2,000 and integral multiples of
$1,000 in excess thereof and be of like aggregate principal amount and tenor as the portion of this Note to be exchanged. Except as
provided herein or in the Fifth Supplemental Indenture, owners of beneficial interests in this Note will not be entitled to have
Notes registered in their names, will not receive or be entitled to physical delivery of Notes in definitive registered form and
will not be considered the holders thereof for any purpose under the Indenture. None of the Company, the Trustee, any Paying Agent
nor the Security Registrar shall have any responsibility or liability for any aspect of the records relating to or payments made on

 

    A-6 

     

    

 

account of beneficial ownership interests in this Note, or for maintaining, supervising or reviewing any records relating to such
beneficial ownership interests.

 

3.                 
If an Event of Default with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared due
and payable in the manner, with the effect and subject to the conditions provided in the Indenture.

 

4.                 
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the holders of the Securities under the Indenture at any time by the Company and the Trustee
with the consent of the holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of
each series to be affected. The Indenture also contains provisions permitting the holders of specified percentages in principal amount
of the Notes at the time Outstanding, on behalf of the holders of all Notes, to waive compliance by the Company with certain provisions
of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the holder of this
Note shall be conclusive and binding upon such holder and upon all future holders of this Note and of any Note issued upon the registration
of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

 

5.                 
The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness of the Company pursuant to this Note
and (b) restrictive covenants and the related Events of Default, upon compliance by the Company with certain conditions set forth therein,
which provisions apply to this Note.

 

6.                 
(a)           At any time and from time to time prior to March 8, 2032 (the “Par Call Date”), the Notes will be redeemable
at the Company’s option, in whole or in part, at a redemption price (expressed as a percentage of principal amount and rounded to
three decimal places) equal to the greater of (1) (a) the sum of the present values of the remaining scheduled payments of principal and
interest thereon discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming
a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 45 basis points, less (b) interest accrued to the Redemption
Date, and (2) 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest
thereon to the Redemption Date.

 

     (b)              
At any time and from time to time on or after the Par Call Date, the Notes will be redeemable at the Company’s option, in
whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest
thereon to the Redemption Date.

 

For purposes of this Section 6:

 

    A-7 

     

    

 

“Treasury Rate” means, with
respect to any redemption date, the yield determined by the Company in accordance with the following two paragraphs.

 

The Treasury Rate shall be determined by the Company
as of 4:15 p.m., New York City time (or as of such time as yields on U.S. government securities are posted daily by the Board of Governors
of the Federal Reserve System), on the third business day preceding the redemption date based upon the yield or yields for the most recent
day that appear as of such time on such day in the most recent statistical release published by the Board of Governors of the Federal
Reserve System designated as “Selected Interest Rates (Daily) - H.15” (or any successor designation or publication) (“H.15”)
under the caption “U.S. government securities–Treasury constant maturities–Nominal” (or any successor caption
or heading) (“H.15 TCM”). In determining the Treasury Rate, the Company shall select, as applicable: (1) the yield
for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the Par Call Date (the “Remaining
Life”); or (2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields –
one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury
constant maturity on H.15 immediately longer than the Remaining Life – and shall interpolate to the Par Call Date on a straight-line
basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such
Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity
on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15
shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity
from the redemption date.

 

If on the third business day preceding the
redemption date H.15 TCM is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to
the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption
date of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If
there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury
securities with a maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one
with a maturity date following the Par Call Date, the Company shall select the United States Treasury security with a maturity date
preceding the Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more
United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or
more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of
the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury
Rate in accordance with the terms of this 

 

    A-8 

     

    

 

paragraph, the semi-annual yield to maturity of the applicable United States Treasury
security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m.,
New York City time, of such United States Treasury security, and rounded to three decimal places.

 

The Company’s actions and determinations
in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error. The Trustee will have no
duty to calculate or verify the calculation of the redemption price.

 

(c)              
Notice of any redemption will be mailed (or, if the Notes are represented by one or more Global Securities, transmitted in accordance
with the Depositary’s standard procedures therefor) at least 10 days but not more than 60 days before the Redemption Date to each
holder of the Notes to be redeemed; provided, however, that any notice of redemption may be sent more than 60 days prior
to a Redemption Date if such notice is issued in connection with a defeasance pursuant to Article XIII of the Base Indenture or a satisfaction
and discharge pursuant to Article XI of the Base Indenture. Unless the Company defaults in payment of the redemption price, on and after
the Redemption Date, interest will cease to accrue on the Notes called for redemption and all rights under such Notes will terminate.

 

(d)              
The notice of redemption need not set forth the Redemption Price but only the manner of calculation thereof as described above.

 

7.              [Intentionally
Omitted.]

 

8.              The
Company shall be responsible for calculating the Redemption Price with respect to any redemption occurring prior to the Par Call Date.

 

9.               No
reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of, and premium, if any, and interest due on this Note at the time, place and
rate, and in the coin or currency, herein prescribed.

 

10.             
(a)               As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable
in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company for such purpose,
duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company or the Security Registrar and
duly executed by, the holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations
and of like tenor and for the same aggregate principal amount, will be issued to the designated transferee or transferees. No service
charge shall be made for any such exchange or registration of transfer, but the Company will require payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith.

 

    A-9 

     

    

 

(b)              
 Prior to due presentment of this Note for registration of transfer, the Company, the Trustee, the Paying Agent and the Security
Registrar of the Company or the Trustee may deem and treat the Person in whose name this Note is registered as the absolute owner hereof
for all purposes (subject to Section 1.03(a) of the Fifth Supplemental Indenture), whether or not this Note be overdue and notwithstanding
any notice of ownership or writing thereon made by anyone other than the Security Registrar, and none of the Company nor the Trustee nor
any Paying Agent nor the Security Registrar shall be affected by notice to the contrary. Except as provided in Section 1.03(a) of the
Fifth Supplemental Indenture, all payments of the principal of and premium, if any, and interest due on this Note made to or upon the
order of the registered holder hereof shall, to the extent of the amount or amounts so paid, effectually satisfy and discharge liability
for moneys payable on this Note.

 

(c)              
The Notes are issuable only in registered form without coupons in denominations of $2,000, or any integral multiple of $1,000 in
excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate
principal amount of Notes of a different authorized denomination, as requested by the holder surrendering the same upon surrender of the
Note or Notes to be exchanged at the office or agency of the Company.

 

11.           No
recourse shall be had for payment of the principal of, or premium, if any, or interest on this Note, or for any claim based hereon, or
otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director,
past, present or future, as such, of the Company or of any predecessor or successor corporation, whether by virtue of any constitution,
statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance
hereof and as part of the consideration for the issuance hereof, expressly waived and released.

 

12.          THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE INTERNAL LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH LAWS OF THE STATE OF NEW YORK.

 

13.           In
the event of a conflict between the terms of this Note and the terms of the Indenture, the terms of the Indenture shall control.

 

    A-10 

     

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription on the face
of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	TEN COM	- as tenants in common	UNIF GIFT MIN ACT - Custodian under Uniform Gift to Minors Act
	 	 	 
	 	 	 
	 	 	(State)
	 	 	 
	TEN ENT	- as tenants by the entireties	 

 

	JT TEN	- as joint tenants with right of survivorship and not as tenants in common.

 

Additional abbreviations may also be used though not on the above list.

 

FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s)
unto

 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE
OF ASSIGNEE

 

 

 

 

 

 

 

(please insert Social Security or other identifying
number of assignee)

 

the within Note and all rights thereunder, hereby irrevocably constituting
and appointing

 

 

 

 

 

 

 

agent to transfer said Note on the books of the Company, with full
power of substitution in the premises.

 

	Dated:	 	 	 
	 	 	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular
without alteration or enlargement, or any change whatsoever.

 

    A-11Document

Exhibit 10.9

Samsara Inc.
November 12, 2021
Dominic Phillips
Samsara Inc.
350 Rhode Island Street
4th Floor, South Building
San Francisco, CA 94103
Re: Confirmatory Employment Letter
Dear Dominic:
This letter agreement (the “Agreement”) is entered into between the undersigned (“you”) and Samsara Inc. (the “Company” or “we”).  This Agreement is effective as of the date you sign it (the “Effective Date”), as indicated below.  The purpose of this Agreement is to confirm the current terms and conditions of your employment.
1.Position.  Your position will continue to be Executive Vice President, Chief Financial Officer and you will continue to report to the Company’s Chief Executive Officer.  This is a full-time position.  You will perform the duties and have the responsibilities and authority customarily performed and held by an employee in your position or as otherwise may be assigned or delegated to you by the Company.  While you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company or that is in any way competitive with the business or proposed business of the Company, nor will you assist any other person or organization in competing with the Company or in preparing to engage in competition with the business or proposed business of the Company, except as approved by the Company’s Board of Directors (the “Board”).  By signing this Agreement, you reconfirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company.
2.Base Salary.  Your current annual base salary is $400,000, which will be payable, less applicable withholdings and deductions, in accordance with the Company’s normal payroll practices.  Your annual base salary will be subject to review and adjustment based upon the Company’s normal performance review practices.
3.Performance Bonus.  You are eligible to earn an annual cash bonus with a target value of 70% of your annual base salary, based on achieving performance objectives established by the Board or an authorized committee thereof (the “Committee”) in its sole discretion and payable upon achievement of those objectives as determined by the Committee. For fiscal 2022, your bonus, to the extent earned, will be paid in accordance with the FY22 bonus plan as adopted by the Committee, as such plan may be amended, subject to you remaining employed with the Company through the applicable payment date.  Your annual bonus opportunity will be subject to review and adjustment based upon the Company’s normal performance review practices.
4.Equity Awards.  You have been granted various equity awards by the Company.  Those equity awards shall continue to be governed in all respects by the terms of the applicable equity agreements, grant notices, and equity plans.
5.Employee Benefits. As a regular full-time employee of the Company, you will continue to be eligible to participate in Company-sponsored benefits in accordance with the terms of the Company’s policies and benefits plan.  In addition, you will receive all additional coverages and benefits provided to Company executives, including director and officer liability insurance.  With the exception of the Company’s at-will employment policy, discussed below, the Company may, from time to time, in its sole discretion, modify or eliminate its policies and/or benefits offered to employees.
-1-

6.Severance Benefits.  You will be eligible for the Company’s Executive Change in Control and Severance Plan (the “Severance Plan”), attached hereto as Exhibit A, as of the Effective Date.  Your Participation Agreement under the Severance Plan will specify the severance payments and benefits you could be eligible to receive in connection with certain terminations of your employment with the Company.  These protections will supersede all other severance payments and benefits you would otherwise currently be eligible for, or would become eligible for in the future, under any plan, program or policy that the Company may have in effect from time to time.
7.Employee Invention Assignment and Confidentiality Agreement.  As an employee of the Company, you will continue to have access to certain confidential information of the Company and you may, during the course of your employment, develop certain information or inventions that will be the property of the Company.  To protect the interests of the Company, your acceptance of this Agreement confirms that you are subject to the terms of the Company’s Employee Invention Assignment and Confidentiality Agreement attached hereto as Exhibit B (the “Invention Assignment and Confidentiality Agreement”).
8.Arbitration Agreement.  Your acceptance of this Agreement confirms that you are subject to the terms of the Company’s Arbitration Agreement attached hereto as Exhibit C (the “Arbitration Agreement”).
9.Employment Relationship.  Employment with the Company will continue to be for no specific period of time.  Your employment with the Company will continue to be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause.  Any contrary representations that may have been made to you are superseded by this Agreement.  This is the full and complete agreement between you and the Company on this term.  Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you).
10.Governing Law; Venue.  All questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto shall be governed by and construed in accordance with the domestic laws of the State of California, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of California or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of California. Any lawsuit arising out of or in any way related to this Agreement to the Parties’ relationship hereunder shall be brought only in those state or federal courts having jurisdiction over actions arising in San Francisco County in the State of California. 
11.Miscellaneous.  This Agreement, together with your Participation Agreement, Invention Assignment and Confidentiality Agreement, Arbitration Agreement, equity agreements, and other agreements referenced herein, constitute the entire agreement between you and the Company regarding the subject matters discussed, and they supersede all prior negotiations, representations or agreements between you and the Company.  This Agreement may only be modified by a written agreement signed by you and the Company’s Chief Executive Officer.
To confirm the current terms and conditions of your employment, please sign and date in the spaces indicated and return this Agreement to the Company.
						
		Sincerely,
		
		SAMSARA INC.
		
	By:	/s/ Sanjit Biswas
		Sanjit Biswas
		Chief Executive Officer

-2-

I have read and understood this Agreement and hereby acknowledge, accept and agree to the terms as set forth herein and further acknowledge that no other commitments were made to me as part of my employment offer except as specifically set forth herein.
												
	/s/ Dominic Phillips		
	Dominic Phillips	
	Date:	November 12, 2021		

-3-

EXHIBIT A
SAMSARA INC.
EXECUTIVE CHANGE IN CONTROL AND 
SEVERANCE PLAN AND SUMMARY PLAN DESCRIPTION
1.Introduction.  The purpose of this Samsara Inc. Executive Change in Control and Severance Plan (as set forth in this document, and as hereafter amended from time to time, the “Plan”) is to provide assurances of specified benefits to certain employees of the Company whose employment could be being involuntarily terminated other than for death, Disability, or Cause or voluntarily terminated for Good Reason under the circumstances described in the Plan.  This Plan is an “employee welfare benefit plan,” as defined in Section 3(1) of ERISA.  This document is both the written instrument under which the Plan is maintained and the required summary plan description for the Plan.
This Plan will be effective as of the date it is approved by the Company’s Compensation Committee (the “Effective Date”).
2.Important Terms.  The following words and phrases, when the initial letter of the term is capitalized, will have the meanings set forth in this Section 2, unless a different meaning is plainly required by the context:
(a)“Administrator” means the Company, acting through the Compensation Committee or another duly constituted committee of members of the Board, or any person to whom the Administrator has delegated any authority or responsibility with respect to the Plan pursuant to Section 11, but only to the extent of such delegation.
(b)“Base Salary” means the Participant’s annual base salary as in effect immediately prior to the Participant’s Qualifying Termination (or if the termination is due to a resignation for Good Reason based on a material reduction in base salary, then the Participant’s annual base salary in effect immediately prior to the reduction) or, if the Participant’s Qualifying Termination is a CIC Qualifying Termination and the amount is greater, at the level in effect immediately prior to the Change in Control.
(c)“Board” means the Board of Directors of the Company.
(d)“Cause” has the meaning set forth in the Participant’s Participation Agreement or, if no definition is set forth, means the following: (i) Participant’s failure (other than due to Disability or death) to substantially perform Participant’s duties to the Company after there has been delivered to Participant a written demand for performance, the failure of which remains uncured after ten (10) business days from the date of such written demand; (ii) Participant’s conviction for, or plea of nolo contendere to, a felony or a crime involving fraud, embezzlement, or any other act of moral turpitude; (iii) Participant’s gross negligence or willful misconduct in the performance of any obligations and duties to the Company; (iv) an act of fraud against or willful misappropriation by Participant of property belonging to the Company; (v) an act of dishonesty or fraud by Participant in connection with Participant’s responsibilities as an employee, (vi) misconduct by Participant that has had or can reasonably be expected to have an adverse effect on the Company’s reputation or business; or (vii) Participant’s material breach of Participant’s employment offer letter or Employee Invention Assignment and Confidentiality Agreement, a material breach of the Company’s documented service provider policies, or any unauthorized misuse of the Company’s trade secrets or proprietary information. 
-4-

(e)“Change in Control” means the occurrence of any of the following events:
(i)Change in Ownership of the Company.  A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company; provided, however, that for purposes of this subsection, (A) the acquisition of additional stock by any one Person, who is considered to own more than 50% of the total voting power of the stock of the Company will not be considered a Change in Control, and (B) any acquisition of additional stock by the Excluded Parties and/or his Permitted Entities (each as defined in the Company’s certificate of incorporation, as amended from time to time (the “COI”)) as a result of a Permitted Transfer (as defined in the COI) or from the Company in a transaction or issuance (including pursuant to equity awards) approved by the Board or a committee thereof, that results in such parties owning more than 50% of the total voting power of the stock of the Company will not be considered a Change in Control.  Further, if the stockholders of the Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as their ownership of shares of the Company’s voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of 50% or more of the total voting power of the stock of the Company or of the ultimate parent entity of the Company, such event will not be considered a Change in Control under this subsection (i).  For this purpose, indirect beneficial ownership will 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, as the case may be, either directly or through one or more subsidiary corporations or other business entities.  For the avoidance of doubt, increases in the percentage of total voting power owned by the Excluded Parties and/or his Permitted Entities resulting solely from a decrease in the number of shares of stock of the Company outstanding shall not constitute an acquisition that creates a Change in Control under this subsection (i); or
(ii)Change in Effective Control of the Company.  A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any 12-month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election.  For purposes of this subsection (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or
(iii)Change in Ownership of a Substantial Portion of the Company’s Assets.  A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person) assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (3) a Person that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3).  For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.
For purposes of this definition, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.
Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a “change in control event” within the meaning of Section 409A.
Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (x) its primary purpose is to change the jurisdiction of the Company’s incorporation, or (y) its primary purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction.
(f)“Change in Control Period” means the time period beginning on the date that is 3 months prior to a Change in Control and ending on the date that is 18 months following a Change in Control.
-5-

(g)“CIC Qualifying Termination” means a termination of a Participant’s employment with the Company (or any parent or subsidiary of the Company) within the Change in Control Period by (i) the Participant for Good Reason, or (ii) the Company (or any parent or subsidiary of the Company) for a reason other than Cause, the Participant’s death or Disability.
(h)“Code” means the Internal Revenue Code of 1986, as amended.
(i)“Company” means Samsara Inc., a Delaware corporation, and any successor that assumes the obligations of the Company under the Plan, by way of merger, acquisition, consolidation or other transaction.
(j)“Compensation Committee” means the Compensation Committee of the Board.
(k)“Director” means a member of the Board.
(l)“Disability” means “Disability” as defined in the Company’s long-term disability plan or policy then in effect with respect to that Participant, as such plan or policy may be in effect from time to time, and, if there is no such plan or policy, a total and permanent disability as defined in Code Section 22(e)(3).
(m)“Equity Awards” means a Participant’s outstanding stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units and any other Company equity compensation awards.
(n)“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.
(o)“Good Reason” has the meaning set forth in the Participant’s Participation Agreement or, if no definition is set forth, means the following: Participant’s resignation within 30 days following the expiration of any Cure Period (as defined below) following the occurrence of one or more of the following, without Participant’s consent: (i) the assignment to Participant of any duties, or the reduction of Participant’s duties, either of which results in a material diminution of Participant’s authority, duties, or responsibilities with the Company in effect immediately prior to such assignment, or the removal of Participant from such position and responsibilities; provided, however, that a reduction in duties, position or responsibilities solely by virtue of the Company being acquired and made part of a larger entity, whether as a subsidiary, business unit or otherwise (as, for example, when the Chief Executive Officer of the Company remains the Chief Executive Officer of the Company following a change in control where the Company becomes a wholly owned subsidiary of the acquiror, but is not made the Chief Executive Officer of the acquiring corporation) will not constitute “Good Reason”; (ii) a material reduction of Participant’s Base Salary (in other words, a reduction of more than 10% of Participant’s then current annual salary (other than (x) in connection with a general decrease in the Base Salary of all similarly situated employees of the Company or (y) following a Change in Control, to the extent necessary to make Participant’s salary commensurate with the salary of those other employees of the Company or its successor entity or parent entity who are similarly situated with Participant following such Change in Control); and (iii) the relocation of Participant to a facility or a location that is more than 50 miles from Participant’s current location). Participant will not resign for Good Reason without first providing the Company with written notice of the acts or omissions constituting the grounds for “Good Reason” within 90 days of the initial existence of the grounds for “Good Reason” and a reasonable cure period of not less than 30 days following the date of such notice (such period, the “Cure Period”).
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(p)“Non-CIC Qualifying Termination” means a termination of a Participant’s employment with the Company (or any parent or subsidiary of the Company) other than within the Change in Control Period by the Company (or any parent or subsidiary of the Company) for a reason other than Cause, the Participant’s death or Disability.
(q)“Participant” means an employee of the Company or of any subsidiary of the Company who (a) has been designated by the Administrator to participate in the Plan either by position or by name and (b) has timely and properly executed and delivered a Participation Agreement to the Company.
(r)“Participation Agreement” means the individual agreement (as will be provided in separate cover as Appendix A) provided by the Administrator to a Participant under the Plan, which has been signed and accepted by the Participant.
(s)“Qualifying Termination” means a CIC Qualifying Termination or a Non-CIC Qualifying Termination, as applicable, occurring during the Term.
(t)“Section 409A Limit” means 200% of the lesser of: (i) the Participant’s annualized compensation based upon the annual rate of pay paid to the Participant during the Participant’s taxable year preceding the Participant’s taxable year of the Participant’s termination of employment as determined under, and with such adjustments as are set forth in, Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the Participant’s employment is terminated.
(u)“Severance Benefits” means the compensation and other benefits that the Participant will be provided in the circumstances described in Section 4.
3.Eligibility for Severance Benefits.  A Participant is eligible for Severance Benefits, as described in Section 4, only if he or she experiences a Qualifying Termination.
4.Qualifying Termination.  Upon a Qualifying Termination, then, subject to the Participant’s compliance with Section 6, the Participant will be eligible to receive the following Severance Benefits as described in Participant’s Participation Agreement, subject to the terms and conditions of the Plan and the Participant’s Participation Agreement:
(a)Cash Severance Benefits.  Cash severance equal to the amount set forth in the Participant’s Participation Agreement and payable in cash at the time(s) specified the Participant’s Participation Agreement.
(b)Continued Medical Benefits.  If the Participant, and any spouse and/or dependents of the Participant (“Family Members”) has or have coverage on the date of the Participant’s Qualifying Termination under a group health plan sponsored by the Company, the Company will reimburse the Participant the total applicable premium cost for continued group health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), during the period of time following the Participant’s employment termination, as set forth in the Participant’s Participation Agreement, provided that the Participant validly elects and is eligible to continue coverage under COBRA for the Participant and his or her Family Members.  However, if the Company determines in its sole discretion that it cannot provide the COBRA reimbursement benefits without potentially violating applicable laws (including, without limitation, Section 2716 of the Public Health Service Act and the ERISA), the Company will in lieu thereof provide to the Participant a lump sum payment equal to the monthly COBRA premium (on an after-tax basis) that the Participant would be required to pay to continue the group health coverage in effect on the date of the Participant’s termination of employment (which amount will be based on the premium for the first month of COBRA coverage), multiplied by the number of months in the period of time set forth in the Participant’s Participation Agreement following the termination, which payments will be made regardless of whether the Participant elects COBRA continuation coverage.  Furthermore, for any Participant who, due to non-U.S. local law considerations, is covered by a health plan that is not subject to COBRA, the Company may (in its discretion) instead provide cash or continued coverage in a manner intended to replicate the benefits of this Section 4(b) and to comply with applicable local law considerations.
(c)Equity Award Vesting Acceleration Benefit.  Only to the extent specifically provided in the Participant’s Participation Agreement, a portion of Participant’s Equity Awards will vest and, to the extent applicable, become immediately exercisable.
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5.Limitation on Payments.  In the event that the severance and other benefits provided for in this Plan or otherwise payable to a Participant (i) constitute “parachute payments” within the meaning of Section 280G of the Code (“280G Payments”), and (ii) but for this Section 5, would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the 280G Payments will be either:
(i)(x) delivered in full, or
(ii)(y) delivered as to such lesser extent which would result in no portion of such benefits being subject to the Excise Tax, 
(iii)whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by Participant on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code.  If a reduction in the 280G Payments is necessary so that no portion of such benefits are subject to the Excise Tax, reduction will occur in the following order: (i) cancellation of equity awards granted “contingent on a change in ownership or control” (within the meaning of Code Section 280G); (ii) a pro rata reduction of (A) cash payments that are subject to Section 409A as deferred compensation and (B) cash payments not subject to Section 409A; (iii) a pro rata reduction of (A) employee benefits that are subject to Section 409A as deferred compensation and (B) employee benefits not subject to Section 409A; and (iv) a pro rata cancellation of (A) accelerated vesting of equity awards that are subject to Section 409A as deferred compensation and (B) equity awards not subject to Section 409A.  In the event that acceleration of vesting of equity awards is to be cancelled, such acceleration of vesting will be cancelled in the reverse order of the date of grant of a Participant’s equity awards.
A nationally recognized professional services firm selected by the Company, the Company’s legal counsel or such other person or entity to which the parties mutually agree (the “Firm”) will make any determination required under this Section 5.  Such determinations will be made in writing by the Firm and any good faith determinations of the Firm will be conclusive and binding upon Participant and the Company.  For purposes of making the calculations required by this Section 5, the Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code.  Participant and the Company will furnish to the Firm such information and documents as the Firm may reasonably request in order to make a determination under this Section 5.  The Company will bear all costs the Firm may incur in connection with any calculations contemplated by this Section 5.
6.Conditions to Receipt of Severance.
(a)Release Agreement.  As a condition to receiving the Severance Benefits, each Participant will be required to sign and not revoke a separation and release of claims agreement in a form reasonably satisfactory to the Company (the “Release”).  In all cases, the Release must become effective and irrevocable no later than the 60th day following the Participant’s Qualifying Termination (the “Release Deadline Date”).  If the Release does not become effective and irrevocable by the Release Deadline Date, the Participant will forfeit any right to the Severance Benefits.  In no event will the Severance Benefits be paid or provided until the Release becomes effective and irrevocable.
(b)Confidential Information.  A Participant’s receipt of Severance Benefits will be subject to the Participant continuing to comply with the terms of any confidentiality, proprietary information and inventions agreement between the Participant and the Company (a “Confidential Information Agreement”).
(c)Non-Disparagement.  As a condition to receiving Severance Benefits under this Plan, the Participant agrees that following the Participant’s termination, the Participant will not knowingly and materially disparage, libel, slander, or otherwise make any materially derogatory statements regarding the Company or any of its officers or directors.  Notwithstanding the foregoing, nothing contained in the Plan will be deemed to restrict the Participant from providing information to any governmental or regulatory agency or body (or in any way limit the content of any such information) to the extent the Participant is required to provide such information pursuant a subpoena or as otherwise required by applicable law or regulation, or in accordance with any governmental investigation or audit relating to the Company.
(d)Other Requirements.  Severance Benefits under this Plan shall terminate immediately for a Participant if such Participant, at any time, violates any Confidential Information Agreement and/or the provisions of the Plan (including this Section 6).
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7.Timing of Severance Benefits.  Unless otherwise provided in a Participant’s Participation Agreement, provided that the Release becomes effective and irrevocable by the Release Deadline Date and subject to Section 9, the Severance Benefits will be paid, or in the case of installments, will commence, on the first Company payroll date following the Release Deadline Date (such payment date, the “Severance Start Date”), and any Severance Benefits otherwise payable to the Participant during the period immediately following the Participant’s termination of employment with the Company through the Severance Start Date will be paid in a lump sum to the Participant on the Severance Start Date, with any remaining payments to be made as provided in this Plan and the Participant’s Participation Agreement.
8.Exclusive Benefit.  Except as otherwise specifically provided in Appendix A, the Severance Benefits shall be the exclusive benefit for a Participant related to termination of employment with the Company (or any parent or subsidiary).
9.Section 409A.
(a)Notwithstanding anything to the contrary in this Plan, no Severance Benefits to be paid or provided to a Participant, if any, under this Plan that, when considered together with any other severance payments or separation benefits, are considered deferred compensation under Section 409A of the Code, and the final regulations and any guidance promulgated thereunder (“Section 409A”) (together, the “Deferred Payments”) will be paid or provided until the Participant has a “separation from service” within the meaning of Section 409A.  Similarly, no Severance Benefits payable to a Participant, if any, under this Plan that otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until the Participant has a “separation from service” within the meaning of Section 409A.
(b)It is intended that none of the Severance Benefits will constitute Deferred Payments but rather will be exempt from Section 409A as a payment that would fall within the “short-term deferral period” as described in Section 9(d) below or resulting from an involuntary separation from service as described in Section 9(e) below.  In no event will a Participant have discretion to determine the taxable year of payment of any Deferred Payment.
(c)Notwithstanding anything to the contrary in this Plan, if a Participant is a “specified employee” within the meaning of Section 409A at the time of the Participant’s separation from service (other than due to death), then the Deferred Payments, if any, that are payable within the first 6 months following the Participant’s separation from service, will become payable on the date 6 months and 1 day following the date of the Participant’s separation from service.  All subsequent Deferred Payments, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit.  Notwithstanding anything herein to the contrary, in the event of the Participant’s death following the Participant’s separation from service, but before the 6 month anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of the Participant’s death and all other Deferred Payments will be payable in accordance with the payment schedule applicable to each payment or benefit.  Each payment and benefit payable under this Plan is intended to constitute a separate payment under Section 1.409A-2(b)(2) of the Treasury Regulations.
(d)Any amount paid under this Plan that satisfies the requirements of the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Payments for purposes of this Section 9.
(e)Any amount paid under this Plan that qualifies as a payment made as a result of an involuntary separation from service pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit will not constitute Deferred Payments for purposes of this Section 9.
(f)The foregoing provisions are intended to comply with or be exempt from the requirements of Section 409A so that none of the Severance Benefits will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply or be exempt.  Notwithstanding anything to the contrary in the Plan, including but not limited to Sections 11 and 14, the Company reserves the right to amend the Plan as it deems necessary or advisable, in its sole discretion and without the consent of the Participants, to comply with Section 409A or to avoid income recognition under Section 409A prior to the actual payment of Severance Benefits or imposition of any additional tax.  In no event will the Company reimburse a Participant for any taxes or other costs that may be imposed on the Participant as result of Section 409A.
10.Withholdings.  The Company will withhold from any Severance Benefits all applicable U.S. federal, state, local and non-U.S. taxes required to be withheld and any other required payroll deductions.
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11.Administration.  The Company is the administrator of the Plan (within the meaning of section 3(16)(A) of ERISA).  The Plan will be administered and interpreted by the Administrator (in his or her sole discretion).  The Administrator is the “named fiduciary” of the Plan for purposes of ERISA and will be subject to the fiduciary standards of ERISA when acting in such capacity.  Any decision made or other action taken by the Administrator with respect to the Plan, and any interpretation by the Administrator of any term or condition of the Plan, or any related document, will be conclusive and binding on all persons and be given the maximum possible deference allowed by law.  In accordance with Section 2(a), the Administrator (a) may, in its sole discretion and on such terms and conditions as it may provide, delegate in writing to one or more officers of the Company all or any portion of its authority or responsibility with respect to the Plan, and (b) has the authority to act for the Company (in a non-fiduciary capacity) as to any matter pertaining to the Plan; provided, however, that any Plan amendment or termination or any other action that reasonably could be expected to increase materially the cost of the Plan must be approved by the Board.
12.Eligibility to Participate.  To the extent that the Administrator has delegated administrative authority or responsibility to one or more officers of the Company in accordance with Sections 2(a) and 11, each such officer will not be excluded from participating in the Plan if otherwise eligible, but he or she is not entitled to act upon or make determinations regarding any matters pertaining specifically to his or her own benefit or eligibility under the Plan.  The Administrator will act upon and make determinations regarding any matters pertaining specifically to the benefit or eligibility of each such officer under the Plan.
13.Term. Subject to the terms of this paragraph, this Plan will have a term of 3 years commencing on the Effective Date (the “Term”) unless the Administrator decides to sooner terminate this Plan in accordance with Section 14 below or the affected Participant consents to an earlier termination. Neither the lapse of this Plan by its terms nor the termination of this Plan by the Company will by itself constitute termination of employment or grounds for “Good Reason” in accordance with the definition herein. Further, if a Change in Control occurs when there are fewer than 3 months remaining during the Term, the Term will extend automatically through the date that is 18 months following the date of the Change in Control (unless the affected Participant consents to an earlier termination). Notwithstanding the foregoing, if during the Term, an initial occurrence of an act or omission by the Company constituting grounds for “Good Reason” in accordance with the definition herein has occurred (the “Initial Grounds”), and the expiration date of the Cure Period (as such defined herein) with respect to such Initial Grounds could occur following the expiration of the Term, the Term will extend automatically through the date that is 30 days following the expiration of the Cure Period, but such extension of the Term will only apply with respect to the Initial Grounds. 
14.Amendment or Termination.  The Company, by action of the Administrator, reserves the right to amend or terminate the Plan at any time, without advance notice to any Participant and without regard to the effect of the amendment or termination on any Participant or on any other individual; provided, however, that any amendment or termination of the Plan that is materially detrimental to a Participant prior to such amendment or termination of the Plan will not be effective with respect to such Participant without such Participant’s prior written consent.  Any amendment or termination of the Plan will be in writing, and any termination of this Plan by the Administrator will be taken in a non-fiduciary capacity.  Notwithstanding the foregoing, any amendment to the Plan that (a) causes an individual to cease to be a Participant, or (b) reduces or alters to the detriment of the Participant the Severance Benefits potentially payable to that Participant (including, without limitation, imposing additional conditions or modifying the timing of payment), will not be effective without that Participant’s written consent.  Any action of the Company in amending or terminating the Plan will be taken in a non-fiduciary capacity.
15.Claims and Appeals.
(a)Claims Procedure.  Any employee or other person who believes he or she is entitled to any Severance Benefits may submit a claim in writing to the Administrator within 90 days of the earlier of (i) the date the claimant learned the amount of his or her Severance Benefits or (ii) the date the claimant learned that he or she will not be entitled to any Severance Benefits.  If the claim is denied (in full or in part), the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of the Plan on which the denial is based.  The notice also will describe any additional information needed to support the claim and the Plan’s procedures for appealing the denial.  The denial notice will be provided within 90 days after the claim is received.  If special circumstances require an extension of time (up to 90 days), written notice of the extension will be given within the initial 90-day period.  This notice of extension will indicate the special circumstances requiring the extension of time and the date by which the Administrator expects to render its decision on the claim.
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(b)Appeal Procedure.  If the claimant’s claim is denied, the claimant (or his or her authorized representative) may apply in writing to the Administrator for a review of the decision denying the claim.  Review must be requested within 60 days following the date the claimant received the written notice of their claim denial or else the claimant loses the right to review.  The claimant (or representative) then has the right to review and obtain copies of all documents and other information relevant to the claim, upon request and at no charge, and to submit issues and comments in writing.  The Administrator will provide written notice of its decision on review within 60 days after it receives a review request.  If additional time (up to 60 days) is needed to review the request, the claimant (or representative) will be given written notice of the reason for the delay.  This notice of extension will indicate the special circumstances requiring the extension of time and the date by which the Administrator expects to render its decision.  If the claim is denied (in full or in part), the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of the Plan on which the denial is based.  The notice also will include a statement that the claimant will be provided, upon request and free of charge, reasonable access to, and copies of, all documents and other information relevant to the claim and a statement regarding the claimant’s right to bring an action under Section 502(a) of ERISA.
16.Attorneys’ Fees.  The parties shall each bear their own expenses, legal fees and other fees incurred in connection with this Plan.
17.Source of Payments.  All payments under the Plan will be paid from the general funds of the Company; no separate fund will be established under the Plan, and the Plan will have no assets.  No right of any person to receive any payment under the Plan will be any greater than the right of any other general unsecured creditor of the Company.
18.Inalienability.  In no event may any current or former employee of the Company or any of its subsidiaries or affiliates sell, transfer, anticipate, assign or otherwise dispose of any right or interest under the Plan.  At no time will any such right or interest be subject to the claims of creditors nor liable to attachment, execution or other legal process.
19.No Enlargement of Employment Rights.  Neither the establishment or maintenance or amendment of the Plan, nor the making of any benefit payment hereunder, will be construed to confer upon any individual any right to continue to be an employee of the Company.  The Company expressly reserves the right to discharge any of its employees at any time, with or without cause.  However, as described in the Plan, a Participant may be entitled to Severance Benefits depending upon the circumstances of his or her termination of employment.
20.Successors.  Any successor to the Company of all or substantially all of the Company’s business and/or assets (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or other transaction) will assume the obligations under the Plan and agree expressly to perform the obligations under the Plan in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession.  For all purposes under the Plan, the term “Company” will include any successor to the Company’s business and/or assets which become bound by the terms of the Plan by operation of law, or otherwise.
21.Applicable Law.  The provisions of the Plan will be construed, administered and enforced in accordance with ERISA and, to the extent applicable, the internal substantive laws of the state of California (but not its conflict of laws provisions).
22.Severability.  If any provision of the Plan is held invalid or unenforceable, its invalidity or unenforceability will not affect any other provision of the Plan, and the Plan will be construed and enforced as if such provision had not been included.
23.Headings.  Headings in this Plan document are for purposes of reference only and will not limit or otherwise affect the meaning hereof.
24.Indemnification.  The Company hereby agrees to indemnify and hold harmless the officers and employees of the Company, and the members of its Board, from all losses, claims, costs or other liabilities arising from their acts or omissions in connection with the administration, amendment or termination of the Plan, to the maximum extent permitted by applicable law.  This indemnity will cover all such liabilities, including judgments, settlements and costs of defense.  The Company will provide this indemnity from its own funds to the extent that insurance does not cover such liabilities.  This indemnity is in addition to and not in lieu of any other indemnity provided to such person by the Company.
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25.Additional Information.
Plan Name:    Samsara Inc. Executive Change in Control and Severance Plan
Plan Sponsor:     Samsara Inc.
350 Rhode Island Street, 4th Floor, South Building, San Francisco, CA 94103
(415) 985-2400
Identification Numbers:    EIN: 47-3100039
PLAN:
Plan Year:    Company’s fiscal year
Plan Administrator:    Samsara Inc.
Attention: Administrator of the Samsara Inc. Executive Change in Control and Severance Plan
350 Rhode Island Street, 4th Floor, South Building, San Francisco, CA 94103
(415) 985-2400
Agent for Service of    Samsara Inc.
Legal Process:    Attention:  General Counsel
350 Rhode Island Street, 4th Floor, South Building, San Francisco, CA 94103
(415) 985-2400
Service of process also may be made upon the Administrator.
Type of Plan    Severance Plan/Employee Welfare Benefit Plan
Plan Costs    The cost of the Plan is paid by the Company.
26.Statement of ERISA Rights.
As a Participant under the Plan, you have certain rights and protections under ERISA:
(iv)You may examine (without charge) all Plan documents, including any amendments and copies of all documents filed with the U.S. Department of Labor.  These documents are available for your review in the Company’s human resources department.
(v)You may obtain copies of all Plan documents and other Plan information upon written request to the Administrator.  A reasonable charge may be made for such copies.
In addition to creating rights for Participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan.  The people who operate the Plan (called “fiduciaries”) have a duty to do so prudently and in the interests of you and the other Participants.  No one, including the Company or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a benefit under the Plan or exercising your rights under ERISA.  If your claim for a severance benefit is denied, in whole or in part, you must receive a written explanation of the reason for the denial.  You have the right to have the denial of your claim reviewed.  (The claim review procedure is explained in Section 15 above.)
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Under ERISA, there are steps you can take to enforce the above rights.  For example, if you request materials and do not receive them within 30 days, you may file suit in a federal court.  In such a case, the court may require the Administrator to provide the materials and to pay you up to $110 a day until you receive the materials, unless the materials were not sent due to reasons beyond the control of the Administrator.  If you have a claim which is denied or ignored, in whole or in part, you may file suit in a federal court.  If it should happen that you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court.
In any case, the court will decide who will pay court costs and legal fees.  If you are successful, the court may order the person you have sued to pay these costs and fees.  If you lose, the court may order you to pay these costs and fees, for example, if it finds that your claim is frivolous.
If you have any questions regarding the Plan, please contact the Administrator.  If you have any questions about this statement or about your rights under ERISA, you may contact the nearest area office of the Employee Benefits Security Administration (formerly the Pension and Welfare Benefits Administration), U.S. Department of Labor, listed in your telephone directory, or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W. Washington, D.C. 20210.  You also may obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.
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Exhibit A | Appendix A
Samsara Inc. Executive Change in Control and Severance Plan Participation Agreement
Samsara Inc. (the “Company”) is pleased to inform you, the undersigned, that you have been selected to participate in the Company’s Executive Change in Control and Severance Plan (the “Plan”) as a Participant.
A copy of the Plan was delivered to you with this Participation Agreement.  Your participation in the Plan is subject to all of the terms and conditions of the Plan.  The capitalized terms used but not defined herein will have the meanings ascribed to them in the Plan.
The Plan describes in detail certain circumstances under which you may become eligible for Severance Benefits.  As described more fully in the Plan, you may become eligible for certain Severance Benefits if you experience a Qualifying Termination.
1.Non-CIC Qualifying Termination.  Upon your Non-CIC Qualifying Termination, subject to the terms and conditions of the Plan, you will receive:
(a)Cash Severance Benefits.  A lump-sum payment equal to (i) 50% of your Base Salary (less applicable withholding taxes), plus (ii) 50% of your target annual bonus as in effect for the fiscal year in which your Non-CIC Qualifying Termination occurs (the “Target Bonus”) (less applicable withholding taxes), which will be paid on the Severance Start Date.
(b)Continued Medical Benefits.  Reimbursement of continued health coverage under COBRA or a taxable lump sum payment in lieu of reimbursement, as applicable, and as described in Section 4(b) of the Plan will be provided for a period of 6 months following the date of your Qualifying Termination.
(c)Equity Vesting Acceleration.  Satisfaction of the time and service-based vesting requirements under your then-outstanding and unvested Equity Awards (but without waiver of any cliff service vesting date) as if you had continued employment with the Company for 6 months after the date of your Qualifying Termination.
2.CIC Qualifying Termination.  Upon your CIC Qualifying Termination, subject to the terms and conditions of the Plan, you will receive:
(a)Cash Severance Benefits.  A lump-sum payment equal to (i) 50% of your Base Salary (less applicable withholding taxes), plus (ii) 50% of your Target Bonus, which will be paid on the later of (A) the Severance Start Date or (B) on or as soon as administratively practicable following the closing date of the applicable Change in Control.
(b)Continued Medical Benefits.  Reimbursement of continued health coverage under COBRA or a taxable lump sum payment in lieu of reimbursement, as applicable, and as described in Section 4(b) of the Plan, will be provided for a period of 6 months following the date of your Qualifying Termination.
(c)Equity Award Vesting Acceleration.  100% of your then-outstanding and unvested Equity Awards will become vested in full and, to the extent applicable, become immediately exercisable (it being understood that forfeiture of any equity awards due to termination of employment will be tolled to the extent necessary to implement this section (c)).  If, however, an outstanding Equity Award is to vest and/or the amount of the award to vest is to be determined based on the achievement of performance criteria (other than the Liquidity Event Trigger (as defined in Section 4 below)), then, unless otherwise determined by the applicable agreement governing the Equity Award, the Equity Award will vest as to 100% of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant performance period(s).
3.Non-Duplication of Payment or Benefits.  If (a) your Qualifying Termination occurs prior to a Change in Control that qualifies you for Severance Benefits under Section 1 of this Participation Agreement and (b) a Change in Control occurs within the 3-month period following your Qualifying Termination that qualifies you for the superior Severance Benefits under Section 2 of this Participation Agreement, then (i) you will cease receiving any further payments or benefits under Section 1 of this Participation Agreement and (ii) the Cash Severance Benefits, Continued Medical Benefits, and Equity Award Vesting Acceleration, as applicable, otherwise payable under Section 2 of this Participation Agreement each will be offset by the corresponding payments or benefits you already received under Section 1 of this Participation Agreement in connection your Qualifying Termination (if any).
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4.Exclusive Benefit.  In accordance with Section 8 of the Plan, the benefits, if any, provided under this Plan will be the exclusive benefits for a Participant related to his or her termination of employment with the Company and/or a change in control of the Company and will supersede and replace any severance and/or change in control benefits set forth in any offer letter, employment or severance agreement and/or other agreement between the Participant and the Company, including any equity award agreement.  For the avoidance of doubt, if a Participant was otherwise eligible to participate in any other Company severance and/or change in control plan (whether or not subject to ERISA), then participation in this Plan will supersede and replace eligibility in such other plan, except as otherwise provided in this paragraph.  Notwithstanding the foregoing, any provision in a Participant’s existing offer letter, employment agreement, and/or equity award agreement with the Company that provides for vesting of Participant’s restricted stock units upon (i) the effective date of the initial public offering of the Company’s securities or (ii) the date of an Acquisition (as defined in the letter and/or agreement) (in either case, a “Liquidity Event Trigger”) or such other similar terms as set forth therein will not be superseded by the Plan or the Participation Agreement, and will continue in full force and effect pursuant to its existing terms.
In order to receive any Severance Benefits for which you otherwise become eligible under the Plan, you must sign and deliver to the Company the Release, which must have become effective and irrevocable within the requisite period, and otherwise comply with the requirements under Section 6 of the Plan.
By your signature below, you and the Company agree that your participation in the Plan is governed by this Participation Agreement and the provisions of the Plan.  Your signature below confirms that: (1) you have received a copy of the Executive Change in Control and Severance Plan and Summary Plan Description; (2) you have carefully read this Participation Agreement and the Executive Change in Control and Severance Plan and Summary Plan Description and you acknowledge and agree to its terms in accordance with the terms of the Plan and this Participation Agreement; and (3) decisions and determinations by the Administrator under the Plan will be final and binding on you and your successors.
[Signature page follows]
									
	SAMSARA INC.		PARTICIPANT
	/s/ Sanjit Biswas		/s/ Dominic Phillips
	Signature		Signature
			
	Name: Sanjit Biswas		Name: Dominic Phillips
			
	Title: Chief Executive Officer		Date: November 12, 2021
			
	Attachment: Samsara Inc. Executive Change in Control and Severance Plan and Summary Plan Description

[Signature page to the Participation Agreement]
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EXHIBIT B
EMPLOYEE INVENTION ASSIGNMENT
AND CONFIDENTIALITY AGREEMENT
In consideration of, and as a condition of my employment with Samsara Inc., a Delaware corporation with its principal offices in the State of California (the “Company”), I, as the “Employee” signing this Employee Invention Assignment and Confidentiality Agreement (this “Agreement”), hereby represent to the Company, and the Company and I hereby agree as follows:
1.    Purpose of Agreement. I understand that the Company is engaged in a continuous program of research, development, production and/or marketing in connection with its current and projected business and that it is critical for the Company to preserve and protect its proprietary information, its rights in certain inventions and works and in related intellectual property rights. Accordingly, I am entering into this Agreement, whether or not I am expected to create inventions or other works of value for the Company. As used in this Agreement, “Inventions” means inventions, improvements, designs, original works of authorship, formulas, processes, compositions of matter, computer software programs, databases, mask works, confidential information and trade secrets.
2.    Disclosure of Inventions. I will promptly disclose in confidence to the Company, or to any person designated by it, all Inventions that I make, create, conceive or first reduce to practice, either alone or jointly with others, during the period of my employment, whether or not in the course of my employment, and whether or not patentable, copyrightable or protectable as trade secrets.
3.    Work for Hire; Assigned Inventions. I acknowledge and agree that any copyrightable works prepared by me within the scope of my employment will be “works made for hire” under the Copyright Act and that the Company will be considered the author and owner of such copyrightable works. I agree that all Inventions that I make, create, conceive or first reduce to practice during the period of my employment, whether or not in the course of my employment, and whether or not patentable, copyrightable or protectable as trade secrets, and that (i) are developed using equipment, supplies, facilities or trade secrets of the Company; (ii) result from work performed by me for the Company; or (iii) relate to the Company’s business or actual or demonstrably anticipated research or development (the “Assigned Inventions”), will be the sole and exclusive property of the Company.
4.    Excluded Inventions and Other Inventions. Attached hereto as Appendix A is a list describing all existing Inventions, if any, that may relate to the Company’s business or actual or demonstrably anticipated research or development and that were made by me or acquired by me prior to the Effective Date (as defined in Section 25, below), and which are not to be assigned to the Company (“Excluded Inventions”). If no such list is attached, I represent and agree that it is because I have no rights in any existing Inventions that may relate to the Company’s business or actual or demonstrably anticipated research or development. For purposes of this Agreement, “Other Inventions” means Inventions in which I have or may have an interest, as of the Effective Date or thereafter, other than Assigned Inventions and Excluded Inventions. I acknowledge and agree that if, in the scope of my employment, I use any Excluded Inventions or any Other Inventions, or if I include any Excluded Inventions or Other Inventions in any product or service of the Company or if my rights in any Excluded Inventions or Other Inventions may block or interfere with, or may otherwise be required for, the exercise by the Company of any rights assigned to the Company under this Agreement, I will immediately so notify the Company in writing. Unless the Company and I agree otherwise in writing as to particular Excluded Inventions or Other Inventions, I hereby grant to the Company, in such circumstances (whether or not I give the Company notice as required above), a perpetual, irrevocable, nonexclusive, transferable, world-wide, royalty-free license to use, disclose, make, sell, offer for sale, import, copy, distribute, modify and create works based on, perform, and display such Excluded Inventions and Other Inventions, and to sublicense third parties in one or more tiers of sublicensees with the same rights.
5.    Exception to Assignment. I understand that the Assigned Inventions will not include, and the provisions of this Agreement requiring assignment of inventions to the Company do not apply to, any invention that qualifies fully for exclusion under the provisions of Section 2870 of the California Labor Code, which are attached hereto as Appendix B.
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6.    Assignment of Rights. I agree to assign, and do hereby irrevocably transfer and assign, to the Company: (i) all of my rights, title and interests in and with respect to any Assigned Inventions; (ii) all patents, patent applications, copyrights, mask works, rights in databases, trade secrets, and other intellectual property rights, worldwide, in any Assigned Inventions, along with any registrations of or applications to register such rights; and (iii) to the extent assignable, any and all Moral Rights (as defined below) that I may have in or with respect to any Assigned Inventions. I also hereby forever waive and agree never to assert any Moral Rights I may have in or with respect to any Assigned Inventions and any Excluded Inventions or Other Inventions licensed to the Company under Section 4, and, at Company’s request and expense, further hereby agrees to consent to and join in any action or proceeding to enforce such rights, even after termination of my employment with the Company. “Moral Rights” means any rights to claim authorship of a work, to object to or prevent the modification or destruction of a work, to withdraw from circulation or control the publication or distribution of a work, and any similar right, regardless of whether or not such right is denominated or generally referred to as a “moral right.”
7.    Assistance. I will assist the Company in every proper way to obtain and enforce for the Company all patents, copyrights, mask work rights, trade secret rights and other legal protections for the Assigned Inventions, worldwide. I will execute and deliver any documents that the Company may reasonably request from me in connection with providing such assistance.
My obligations under this section will continue beyond the termination of my employment with the Company; provided that the Company agrees to compensate me at a reasonable rate after such termination for time and expenses actually spent by me at the Company’s request in providing such assistance. I hereby appoint the Secretary of the Company as my attorney-in-fact to execute documents on my behalf for this purpose. I agree that this appointment is coupled with an interest and will not be revocable.
8.    Proprietary Information. I understand that my employment by the Company creates a relationship of confidence and trust with respect to any information or materials of a confidential or secret nature that may be made, created or discovered by me or that may be disclosed to me by the Company or a third party in relation to the business of the Company or to the business of any parent, subsidiary, affiliate, customer or supplier of the Company, or any other party with whom the Company agrees to hold such information or materials in confidence (the “Proprietary Information”). Without limitation as to the forms that Proprietary Information may take, I acknowledge that Proprietary Information may be contained in tangible material such as writings, drawings, samples, electronic media, or computer programs, or may be in the nature of unwritten knowledge or know-how. Proprietary Information includes, but is not limited to, Assigned Inventions, marketing plans, product plans, designs, data, prototypes, specimens, test protocols, laboratory notebooks, business strategies, financial information, forecasts, personnel information, contract information, customer and supplier lists, and the non-public names and addresses of the Company’s customers and suppliers, their buying and selling habits and special needs. At all times before, during, and after my employment, and to the fullest extent permitted by law, I will keep and hold all Proprietary Information I am given access to in strict confidence and trust.
9.    Confidentiality. At all times, both during my employment and after its termination, and to the fullest extent permitted by law, I will keep and hold all Proprietary Information in strict confidence and trust. I will not use or disclose any Proprietary Information without the prior written consent of the Company in each instance, except as may be necessary to perform my duties as an employee of the Company for the benefit of the Company. Upon termination of my employment with the Company, I will promptly deliver to the Company all documents and materials of any nature pertaining to my work with the Company, and I will not take with me or retain in any form any documents or materials or copies containing any Proprietary Information.  Nothing in this Section 9 or otherwise in this Agreement shall limit or restrict in any way my immunity from liability for disclosing the Company’s trade secrets as specifically permitted by 18 U.S. Code Section 1833, the pertinent provisions of which are attached hereto as Appendix C.
10.    Physical Property. All documents, supplies, equipment and other physical property furnished to me by the Company or produced by me or others in connection with my employment will be and remain the sole property of the Company. I will return to the Company all such items when requested by the Company, excepting only my personal copies of records relating to my employment or compensation and any personal property I bring with me to the Company and designate as such. Even if the Company does not so request, I will upon termination of my employment return to the Company all Company property, and I will not take with me or retain any such items.
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11.    No Breach of Prior Agreements or Third Party Intellectual Property Rights. I represent that my performance of all the terms of this Agreement and my duties as an employee of the Company will not breach any invention assignment, proprietary information, confidentiality, non-competition, or other agreement with any former employer or other party. I represent that I will not bring with me to the Company or use in the performance of my duties for the Company any documents or materials or intangibles of my own or of a former employer or third party that are not generally available for use by the public or have not been legally transferred to the Company.  I represent that I will not infringe, misappropriate or violate the rights of any third party, including, without limitation, any intellectual property rights or any rights of privacy or rights of publicity.  Should I reasonably believe at any time that I am at risk of violating any of the warranties contained herein, I shall immediately notify Company and work with Company to remediate such violation.  I will defend, indemnify, and hold Company harmless from and against all claims, damages, liabilities, losses, expenses and costs (including reasonable fees and expenses of attorneys and other professionals) arising out of or resulting from any claim that I have breached this provision.
12.    “At Will” Employment. I understand that this Agreement does not constitute a contract of employment or obligate the Company to employ me for any stated period of time. I understand that I am an “at will” employee of the Company and that my employment can be terminated at any time, with or without notice and with or without cause, for any reason or for no reason, by either the Company or by me. I acknowledge that any statements or representations to the contrary are ineffective, unless put into a writing signed by the Company. I further acknowledge that my participation in any benefit program is not to be construed as any assurance of continuing employment for any particular period of time.
13.    Company Opportunities; Duty Not to Compete. During the period of my employment, I will at all times devote my best efforts to the interests of the Company, and I will not, without the prior written consent of the Company, engage in, or encourage or assist others to engage in, any other employment or activity that: (i) would divert from the Company any business opportunity in which the Company can reasonably be expected to have an interest; (ii) would directly compete with, or involve preparation to compete with, the current or future business of the Company; or (iii) would otherwise conflict with the Company’s interests or could cause a disruption of its operations or prospects.
14.    Non-Solicitation.
(a)    Nonsolicitation of Business. I agree that for a one year period following termination or cessation of my employment with the Company (the “Restricted Period”), I will not either alone or in association with others, solicit, divert or take away, or attempt to divert or take away, the business or patronage of any of the clients, customers, or business partners of the Company which I contacted, solicited, or served during the twelve (12)-month period prior to the termination or cessation of my employment with the Company.
(b)    Nonsolicitation of Employees and Contractors. I agree that during my employment by the Company and the Restricted Period, I will not solicit any employee or contractor of the Company to terminate his or her employment or contractors status with the Company.
15.    Use of Name & Likeness. I hereby authorize the Company to use, reuse, and to grant others the right to use and reuse, my name, photograph, likeness (including caricature), voice, and biographical information, and any reproduction or simulation thereof, in any form of media or technology now known or hereafter developed, both during and after my employment, for any purposes related to the Company’s business, such as marketing, advertising, credits, and presentations.
16.    Notification. I hereby authorize the Company, during and after the termination of my employment with the Company, to notify third parties, including, but not limited to, actual or potential customers or employers, of the terms of this Agreement and my responsibilities hereunder.
17.    Injunctive Relief. I understand that a breach or threatened breach of this Agreement by me may cause the Company to suffer irreparable harm and that the Company will therefore be entitled to injunctive relief to enforce this Agreement.
18.    Governing Law; Severability. This Agreement is intended to supplement, and not to supersede, any rights the Company may have in law or equity with respect to the duties of its employees and the protection of its trade secrets. This Agreement will be governed by and construed in accordance with the laws of the State of California without giving effect to any principles of conflict of laws that would lead to the application of the laws of another jurisdiction. If any provision of this Agreement is invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible, given the fundamental intentions of the parties when entering into this Agreement. To the extent such provision cannot be so enforced, it will be stricken from this Agreement and the remainder of this Agreement will be enforced as if such invalid, illegal or unenforceable provision had never been contained in this Agreement.
19.    Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together will constitute one and the same agreement.
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20.    Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede all prior understandings and agreements, whether oral or written, between the parties hereto with respect to such subject matter.
21.    Amendment and Waiver. This Agreement may be amended only by a written agreement executed by each of the parties to this Agreement. No amendment or waiver of, or modification of any obligation under, this Agreement will be enforceable unless specifically set forth in a writing signed by the party against which enforcement is sought. A waiver by either party of any of the terms and conditions of this Agreement in any instance will not be deemed or construed to be a waiver of such term or condition with respect to any other instance, whether prior, concurrent or subsequent.
22.    Successors and Assigns; Assignment. Except as otherwise provided in this Agreement, this Agreement, and the rights and obligations of the parties hereunder, will bind and benefit the parties and their respective successors, assigns, heirs, executors, administrators, and legal representatives. The Company may assign any of its rights and obligations under this Agreement. I understand that I will not be entitled to assign or delegate this Agreement or any of my rights or obligations hereunder, whether voluntarily or by operation of law, except with the prior written consent of the Company.
23.    Further Assurances. The parties will execute such further documents and instruments and take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement. Upon termination of my employment with the Company, I will execute and deliver a document or documents in a form reasonably requested by the Company confirming my agreement to comply with the post-employment obligations contained in this Agreement.
24.    Acknowledgement. I certify and acknowledge that I have carefully read all of the provisions of this Agreement and that I understand and will fully and faithfully comply with this Agreement.
25.    Effective Date of Agreement. This Agreement is and will be effective on and after the first day of my employment by the Company, which is December 2, 2019 (the “Effective Date”).
									
	SAMSARA INC.:	Employee:	
	By:		
	/s/ Sanjit Biswas	Signature:	/s/ Dominic Phillips
	Name: Sanjit Biswas
		Name: Dominic Phillips

			
	Title: Chief Executive Officer		

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Exhibit B | Appendix A
LIST OF EXCLUDED INVENTIONS UNDER SECTION 4
Title:
Date:
Identifying Number or Brief Description:
						
	X	No inventions, improvements, or original works of authorship

		Additional sheets attached
		
	Signature of Employee:	
		
	/s/ Dominic Phillips	
		
	Name of Employee:	Dominic Phillips
		
	Date:	November 12, 2021

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Exhibit B | Appendix B
CALIFORNIA LABOR CODE 2870 NOTICE:
California Labor Code Section 2870 provides as follows:
Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either: (1) relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or (2) result from any work performed by the employee for the employer. To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under California Labor Code Section 2870(a), the provision is against the public policy of this state and is unenforceable.
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Exhibit B | Appendix C
DEFEND TRADE SECRETS ACT, 18 U.S. CODE § 1833 NOTICE:
18 U.S. Code Section 1833 provides as follows:
Immunity From Liability For Confidential Disclosure Of A Trade Secret To The Government Or In A Court Filing.  An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made, (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.
Use of Trade Secret Information in Anti-Retaliation Lawsuit.  An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.
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EXHIBIT C
SAMSARA INC.
ARBITRATION AGREEMENT
As a condition of my employment with Samsara Inc., its subsidiaries, affiliates, successors or assigns (together, “Samsara” or the “Company”), and in consideration of my employment with the Company and my receipt of the compensation now and hereafter paid to me by Company, I agree to the following provisions of this Samsara Arbitration Agreement (this “Agreement”):
1.ARBITRATION AND EQUITABLE RELIEF
A.Arbitration. In consideration of my employment with the Company, its promise to arbitrate all employment-related disputes, and my receipt of the compensation, pay raises, and other benefits paid to me by the Company, at present and in the future, I agree that any and all controversies, claims, or disputes with anyone (including the Company and any employee, officer, director, shareholder, or benefit plan of the Company, in their capacity as such or otherwise), excluding those involving a claim of sexual harassment at the Company, but in all other cases arising out of, relating to, or resulting from my employment with the Company or the termination of my employment with the Company, including any breach of this Agreement, shall be subject to binding arbitration under the arbitration provisions set forth in California Code of Civil Procedure Sections 1280 through 1294.2, including Section 1281.8 (the “Act”), and pursuant to California and federal law, and shall be brought in my individual capacity in arbitration, and not as a plaintiff or class member in any purported class or representative proceeding. The Federal Arbitration Act shall continue to apply with full force and effect notwithstanding the application of procedural rules set forth in the Act. Disputes that I agree to arbitrate, and thereby agree to waive any right to a trial by jury, include any statutory claims under local, state, or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans With Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Sarbanes-Oxley Act, the Worker Adjustment and Retraining Notification Act, the California Fair Employment and Housing Act, the Family and Medical Leave Act, the California Family Rights Act, the California Labor Code (including but not limited to representative claims pursuant to California’s Labor Code Private Attorneys General Act), claims of harassment, discrimination, and wrongful termination, and any statutory or common law claims. Notwithstanding the foregoing, I understand that nothing in this Agreement constitutes a waiver of my rights under Section 7 of the National Labor Relations Act or under California’s Labor Code Private Attorneys General Act, Cal. Labor Code § 2698 et seq. I further understand that this agreement to arbitrate also applies to any disputes that the Company may have with me.
B.Remedy. Except as provided by the Act and this Agreement, arbitration shall be the sole, exclusive, and final remedy for any dispute between me and the Company. Accordingly, except as provided for by the Act and this Agreement, neither I nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration.
C.Procedure. I agree that any arbitration will be administered by Judicial Arbitration & Mediation Services, Inc. (“JAMS”), pursuant to its employment arbitration rules & procedures (the “JAMS Rules”), which are available at http://www.jamsadr.com/rulesemployment-arbitration/ and from the People Operations Team. I agree that the arbitrator shall have the power to decide any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication, and motions to dismiss and demurrers, applying the standards set forth under the California Code of Civil Procedure. I agree that the arbitrator shall issue a written decision on the merits. I also agree that the arbitrator shall have the power to award any remedies available under applicable law, and that the arbitrator shall award attorneys’ fees and costs to the prevailing party, where provided by applicable law. I agree that the decree or award rendered by the arbitrator may be entered as a final and binding judgment in any court having jurisdiction thereof. I understand that the Company will pay for any administrative or hearing fees charged by the arbitrator or JAMS except that I shall pay any filing fees associated with any arbitration that I initiate, but only so much of the filing fees as I would have instead paid had I filed a complaint in a court of law. I agree that the arbitrator shall administer and conduct any arbitration in accordance with California law, including the California Code of Civil Procedure and the California Evidence Code, and that the arbitrator shall apply substantive and procedural California law to any dispute or claim, without reference to rules of conflict of law. To the extent that the JAMS rules conflict with California law, California law shall take precedence. I agree that any arbitration under this Agreement shall be conducted in San Francisco, California.
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A.Administrative Relief. I understand that this Agreement does not prohibit me from pursuing an administrative claim with a local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to, the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission, the National Labor Relations Board, or the Workers’ Compensation Board. This Agreement does, however, preclude me from pursuing court action regarding any such claim, except as required by law.
B.Voluntary Nature of Agreement. I acknowledge and agree that I am executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else. I acknowledge and agree that I have received a copy of the text of California Labor Code Section 2870 in Exhibit B. I further acknowledge and agree that I have carefully read this Agreement and that I have asked any questions needed for me to understand the terms, consequences, and binding effect of this Agreement and fully understand it, including that I am waiving my right to a jury trial. Finally, I agree that I have been provided an opportunity to seek the advice of an attorney of my choice before signing this Agreement.
C.Confidentiality. I acknowledge and agree that all aspects of an arbitration pursuant to this Agreement, including the hearing and recording of the proceeding, are confidential and not open to the public, except: (i) to the extent Samsara and I agree otherwise in writing; (ii) as may be appropriate in any subsequent proceeding between myself and Samsara; (iii) as may be necessary in connection with a court application for a preliminary remedy or a judicial challenge to an arbitration award or its enforcement; (iv) as may otherwise be necessary in response to a governmental agency or compulsory legal process; (v) as required by the Arbitrator in appropriate circumstances; or (vi) as required by law to ensure that this agreement to arbitrate is enforceable. Further, I agree that all settlement negotiations and mediations shall be confidential.
2.GOVERNING LAW; CONSENT TO PERSONAL JURISDICTION. This Agreement will be governed by the laws of the State of California without regard to California’s conflicts of law rules that may result in the application of the laws of any jurisdiction other than California. To the extent that any lawsuit is permitted under this Agreement, I hereby expressly consent to the personal and exclusive jurisdiction and venue of the state and federal courts located in California for any lawsuit filed against me by the Company.
3.ASSIGNABILITY. This Agreement will be binding upon my heirs, executors, assigns, administrators, and other legal representatives, and will be for the benefit of the Company, its successors, and its assigns. There are no intended third-party beneficiaries to this Agreement, except as may be expressly otherwise stated. Notwithstanding anything to the contrary herein, Samsara may assign this Agreement and its rights and obligations under this Agreement to any successor to all or substantially all of Samsara’s relevant assets, whether by merger, consolidation, reorganization, reincorporation, sale of assets or stock, or otherwise.
4.SEVERABILITY. If a court or other body of competent jurisdiction finds, or the Parties mutually believe, any provision of this Agreement, or portion thereof, to be invalid or unenforceable, such provision will be enforced to the maximum extent permissible so as to effect the intent of the Parties, and the remainder of this Agreement will continue in full force and effect.
5.MODIFICATION, WAIVER. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in a writing signed by the Head of the People Operations Team at Samsara and me. Waiver by Samsara of a breach of any provision of this Agreement will not operate as a waiver of any other or subsequent breach.
6.ENTIRE AGREEMENT. This Agreement, together with the Exhibits herein, the Proprietary Information and Invention Assignment Agreement between me and the Company, and any executed written offer letter between me and the Company, to the extent such materials are not in conflict with this Agreement, sets forth the entire agreement and understanding between the Company and me with respect to the subject matter herein and supersedes all prior written and oral agreements, discussions, or representations between us, including, but not limited to, any representations made during my interview(s) or relocation negotiations. I represent and warrant that I am not relying on any statement or representation not contained in this Agreement. Any subsequent change or changes in my duties, salary, or compensation will not affect the validity or scope of this Agreement.
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7.SURVIVORSHIP. The rights and obligations of the parties to this Agreement will survive termination of my employment with the Company.
						
	Signature of Employee:	
		
	/s/ Dominic Phillips	
		
	Name of Employee:	Dominic Phillips
		
	Date:	November 12, 2021

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