Document:

Exhibit 10.17 

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT
AGREEMENT (the "Employment Agreement") is entered into as of October 25, 2013, between Berkshire Grey, Inc., a Delaware
corporation, with a principal place of business at c/o Rich May, P.C., 176 Federal Street, Boston, MA 02110 (the "Company")
and Thomas Wagner, an individual, with an address of 97 Alden Road, Concord, MA 01742 (the "Employee").

 

WHEREAS, the Company
is entering into a certain financing transaction with Khosla Ventures Seed B, LP and Khosla Ventures Seed B (CF), LP, or affiliates thereof
(collectively, "Kholsa Ventures"), pursuant to which Kholsa Ventures shall purchase 2,212,389 shares of the Company's
Series A Preferred Stock (the "First Tranche"), and may purchase up to 2,403,846 shares of the Company's Series A-1 Preferred
Stock (the "Second Tranche," and collectively with the First Tranche, the "Transaction" );

 

WHEREAS, Employee
owns 2,597,152 shares (the "Shares") of the Company's Common Stock, $.00 I par value (the "Common Stock"),
which represents all of the issued and outstanding shares of the Company's Common Stock as of the date hereof;

 

WHEREAS, as a condition
of Kholsa Ventures entering into the Transaction, from which Employee will derive substantial benefit, it was agreed that up to 1,947,864
of the Shares (the "Repurchase Shares") would become subject to certain forfeiture rights in favor of the Company, and
that Employee would become subject to the terms set forth in this Employment Agreement; and

 

WHEREAS, the Company
and Employee each desire to enter into this Employment Agreement concerning Employee's employment with the Company.

 

NOW, THEREFORE,
in consideration of the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency
of which is acknowledged by both parties, the Company and Employee agree as follows:

 

1. Employment.
The Company will employ Employee and Employee will serve the Company as the Company's Chief Executive Officer ("CEO"), all
upon the terms and conditions provided herein, and Employee shall be entitled to serve on the Board pursuant to the Voting Agreement of
even date herewith executed in connection with the Transaction.

 

2.
Duties. Employee will report to and be subject to the ultimate authority of the board of directors (the "Board")
of the Company. Employee will be responsible for (i) developing of strategic direction and vision, (ii) interfacing and business
development (high level) with customers and potential customers in sectors potentially including industry and government, (iii) as appropriate,
forming high-level strategic relationships with other companies, individuals, universities and technology centers, (iv) recruiting of
team, (v) developing corporate culture and setting, (vi) selectively being the public face of the Company and a recognized thought leader,
(vii) prioritizing work flow, (viii) managing  operations and resources, (ix) making and executing major corporate decisions,
(x) obtaining financing from investors and generating revenue streams, (xi) interfacing with the Board, and (xii) and carrying out such
other duties consistent with the position of CEO as are delegated to Employee from time to time by the Board.

 

    

    

    

 

3. Term.
The Employee's employment shall be "at will," meaning that either the Employee or the Company shall be entitled to terminate
the Employee's employment at any time and for any reason, with or without Cause (as defined below). Any contrary representations that
may have been made to you shall be superseded by this Employment Agreement. This Employment Agreement shall constitute the full and complete
agreement between the Employee and the Company on the "at-will" nature of the Employee's employment, which may only be changed
in an express written agreement signed by the Employee and a duly authorized officer of the Company.

 

4. Commitment
of Employee. During the term of this Employment Agreement, Employee will devote such time to the Company as is reasonably necessary
to perform his duties as CEO and will perform his duties at the principal executive offices, during the normal business hours of the Company;
provided, however, that so long as such activity does not interfere with Employee's perfonnance of his duties and responsibilities
hereunder, Employee may engage in the activities set forth on Exhibit A and other activities as approved by the Board, such approval
not to be unreasonably withheld.

 

5. Compensation.

 

(a) Base Salary.

 

(i) During
the term of this Employment Agreement, the Company agrees to compensate Employee with a "Base Salary" at a rate of $8,333.33
per month. Employee's Base Salary may be increased as determined by the Board in its sole discretion. Employee's Base Salary shall not
be reduced without Employee's prior written consent.

 

(ii) Notwithstanding
anything contained in Section 5(a)(i) to the contrary, upon closing of the Second Tranche, pursuant to which Kholsa Ventures purchases
at least 480,769 shares of Series A-1 Preferred Stock, the Company agrees to compensate Employee with a "Base Salary" at
a rate of $20,833.33 per month. Employee's Base Salary may be increased as determined by the Board in its sole discretion. Employee's
Base Salary shall not be reduced without Employee's prior written consent.

 

(b) Payroll
Policies. Employee's compensation will be paid in installments pursuant to the Company's personnel and payroll policies, as they may
be amended from time to time, less any applicable federal, state or local payroll tax deductions incident on Employee.

 

(c) Bonuses.
Employee will be eligible for cash bonuses from time to time as determined by the Board in its sole discretion.

 

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(d) Reimbursement
of Expenses. The Company will reimburse Employee in accordance with the Company's standard reimbursement policies for all reasonable
and customary out-of-pocket expenses which have been incurred by Employee in connection with the performance of his duties under this
Employment Agreement.

 

6.
Fringe Benefits.

 

(a) Vacation.
Employee will be entitled to a vacation period of four (4) weeks in any calendar year of his employment without loss of compensation.
The number of vacation days for which Employee is eligible shall accrue at the rate of 1.67 days per month that Employee is employed during
such calendar year. Vacation accrual will be capped at 1 times
Employee's annual vacation accrual. When accrued vacation reaches the cap, the Employee will not accrue additional vacation time until
some of the previously accrued vacation is used and the accrued amount falls below the cap. In the event that Employee's employment is
terminated for any reason, he will receive compensation on account of any unused vacation days in addition to his regular compensation
for the period prior to his termination.

 

(b) Holidays
and Sick Leave. In addition to his vacation time, Employee will be entitled without loss of compensation to those holidays to which
employees of the Company are entitled under the personnel policies of the Company. Sick leave will be accumulated for Employee in accordance
with the personnel policies of the Company.

 

(c) Health
Care. Disability. Insurance and Other Benefits. During the term of this Employment Agreement, Employee will be furnished with health
care, disability, insurance and other benefits consistent with such similar benefits as the directors of the Company may determine to
provide to other senior employees of the Company.

 

7. Termination
of Agreement.

 

(a) Termination.
The Company or the Employee may terminate this Employment Agreement, at any time, with or without Cause (as defined below), upon written
notice to the other party (except in the instance of death), and otherwise in accordance with this Section 7. Termination of this Employment
Agreement by the Company will be determined by a majority vote of the Board.

 

(b)
Termination for Cause. If the Company proposes to terminate Employee's employment hereunder for Cause (as defined below), the
Company will give Employee reasonable prior written notice of termination, and will specify in said notice the factual basis upon which
the termination action is based and will provide Employee the opportunity to be heard before the Board prior to such termination. For
the purpose of this Employment Agreement, "Cause" means termination of Employee because of any of the following, in
each case as determined by the Board: (i) willful or habitual neglect after written notice to perform the duties required to be performed;
(ii) the conviction of, or entering or consenting to a plea of nolo contendere or similar plea to, any crime involving moral
turpitude or which constitutes a felony in the jurisdiction committed (whether or not involving the Company); (iii) the commission of
an act of personal dishonesty which involves a personal profit in connection with the Company or any affiliated entity or any other entity
having a business relationship with the Company or any affiliated entity; (iv) a breach of any material provision of any written agreement
between the him and the Company or intentional disregard of the policies of the Company or any affiliated entity, which is not cured
within ten (10) days of written notice from the Company of such breach, provided that such ten (10) day period will not apply in the
case of a breach which can not be cured; or (v) any other dishonesty, gross negligence or misconduct which is materially injurious to
the financial condition or business reputation of the Company, whether or not in connection with the Company or any affiliated entity
or any other entity having a business relationship with the Company or any affiliated entity.

 

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(c) Death.
Employee's employment hereunder will terminate automatically upon the death of Employee.

 

(d) Disability.
Employee's employment hereunder may also be tenninated at the election of the Company in the event that Employee becomes subject to any
Disability. "Disability" shall mean a disability as defined in Section 22(e)(3) of the Internal Revenue Code of 1986,
as amended (the "Code"). In the event Employee's employment is terminated by the Company because of the Disability of
Employee, the Company will give Employee notice of a termination date, which will not be less than thirty (30) days subsequent to the
date of the notice. Employee's employment hereunder will terminate on the termination date as so established by the Company, and Employee
will be entitled to receive the long-term disability benefits then provided by the Company.

 

(e) Effect
of Death, Disability, Resignation or Termination for Cause. If Employee dies, is terminated as
a result of Disability in accordance with subparagraph (d) above, resigns from his employment (other than under the circumstances described
in subparagraph (f) below) or is terminated for Cause, the Company will pay Employee his full salary and other benefits (including accrued
and unused vacation and sick time for such year) through the date of death, Disability (in accordance with Section 7(d)), resignation
or termination of employment at the rate then in effect, and the Company will have no further obligations to Employee under this Employment
Agreement, except for benefits expressly provided herein and for continuation of benefits required by applicable law.

 

(f) Termination
without Cause. If Employee's employment is terminated without Cause, Employee will be entitled
to the following payments:

 

(i) all
amounts accrued and unpaid to Employee through the termination date, including unpaid salary, pro-rated bonus, benefits and accrued and
unused vacation and sick time; and

 

(ii)
severance payments comprising salary and all benefits continuing for a period of two (2) months after the effective date of such
termination, such severance payments to be made consistent with the Company's payroll policies and subject to applicable federal,
state and local payroll tax deductions and withholdings and to be subject to Employee's execution of a release of claims related to
Employee's employment with the Company or the termination of such employment.

 

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For purposes of
this Section 7(f), Employee's resignation from his employment as the result of any of the following will be deemed to be termination without
Cause: (i) material reduction of Employee's Base Salary without the prior
consent of Employee (other than in connection with, and substantially proportionate to, reductions by the Company of the annual base salary
of more than 50% of its employees), (ii) a material change by the Company of Employee's functions, duties or authority other than changes
in functions, duties or authority resulting from Employee's misconduct; provided, however, that any reduction in functions, duties or
authority or reduction in the level of management to which Employee reports resulting solely from a Sale of the Company (as such term
is defined in the Voting Agreement of even date herewith executed in connection with the Transaction) which results in the Company being
acquired by and made a part of a larger entity shall not be deemed to be termination without Cause; or (iii) a material breach by the
Company of this Employment Agreement, or of any other written agreement between Employee and the Company; provided, that no such events
or conditions shall be deemed to be a termination without Cause unless (x) Employee gives the Company a written notice of termination
for Cause not more than sixty (60) days after the initial existence of the event or condition, (y) the grounds for termination, if susceptible
to correction, are not corrected by the Company within thirty (30) days of its receipt of such notice and (z) Employee's termination of
employment occurs within the sixty (60) days following the Company's receipt of such notice..

 

8. Confidentiality,
Non-solicitation and Assignment of Inventions. Contemporaneous with the execution of this Employment Agreement, Employee shall
execute and deliver to Company the "Employee Restrictions and Proprietary Information Agreement," in substantially the form
attached hereto as Exhibit B.

 

9. Forfeiture
of Shares Upon Termination of Employment.

 

(a) Forfeiture
of Shares. If Employee's employment with the Company terminates for any reason whatsoever (the
date on which such termination occurs being referred to as the "Termination Date"), then all of the Repurchase Shares
that are not vested as of the Termination Date shall be forfeited immediately and automatically to the Company, without the payment of
any consideration to Employee, effective as of the Termination Date. Employee hereby authorizes the Company to take any actions necessary
or appropriate to cancel any certificate(s) representing forfeited Repurchase Shares and transfer ownership of such forfeited Repurchase
Shares to the Company. Employee shall have no further rights with respect to any Repurchase Shares that are so forfeited.

 

(b) Termination
of Forfeiture Right. Subject to Section 9(c), the Repurchase Shares shall vest, and shall no longer be subject to forfeiture
pursuant to Section 9(a) above as follows: on the last day of each full succeeding one (1) month period for the four (4) years
following the date of this Employment Agreement, an additional 40,581 Repurchase Shares shall vest until forfeiture rights have
lapsed with respect to one hundred percent (100%) of the Repurchase Shares.

 

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in each case if and only if Employee
is, and has been continuously employed by the Company from the date of this Employment Agreement through each such date.

 

(c) Acceleration
of Lapse of Forfeiture Right. Notwithstanding the provisions of Section 9, the forfeiture rights granted to the Company under this
Section 9 shall lapse with respect to: (i) 486,972 of the Repurchase Shares for which forfeiture rights have not previously lapsed upon
Employee's death or Disability; (ii) the greater of (A) 486,972 of the Repurchase Shares, or (B) 50% of the then-remaining unvested Repurchase
Shares, in each case for which forfeiture rights have not previously lapsed upon termination of Employee's employment by the Company without
Cause (including without limitation, Employee's resignation pursuant to Section 7(f)); or (iii) notwithstanding item (ii) above to the
contrary, all Repurchase Shares for which forfeiture rights have not previously lapsed if Employee's employment by the Company is terminated
without Cause (including without limitation, Employee's resignation pursuant to Section 7(f)) immediately prior to (which "prior
to" period shall include without limitation any period commencing with the Company's acceptance of, or agreement with respect to,
any term sheet or other binding or non-binding agreement relating to the Sale of the Company (as defined below)) or within the twelve
(12) month period immediately following the closing of the Sale of the Company (as such term is defined in the Voting Agreement of even
date herewith executed in connection with the Transaction).

 

10. Availability
of Records. During the term of this Employment Agreement and for a one (1) year period after termination, the Company agrees to
make available to Employee or his executors, administrators or heirs, for inspection on the premises of the Company during normal business
hours, copies of any records relating to any rights or benefits to which Employee was entitled at the time of his termination of employment.
However, upon the termination of this Employment Agreement, Employee will not be entitled to retain any records of the Company in his
possession.

 

11. Assignability.
This Employment Agreement will inure to the benefit of the successors and assigns of the Company. However, this Employment Agreement is
personal to Employee, and he may not assign any of his rights or obligations hereunder.

 

12. Amendments.
No amendment of or variation in the tenns of this Employment Agreement will be valid unless made in writing and signed by Employee and
a duly authorized representative of the Company.

 

13. Notices. All
notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered by hand or
overnight courier or three postal delivery days after it has been mailed by United States registered mail, return receipt requested,
postage prepaid, addressed to the respective addresses set forth below in this Employment Agreement, or to such other address as
either party may have furnished to 6. the other in writing in accordance herewith, except that notice of change of address
shall be effective only upon receipt:

 

	To the Company:	 	Berkshire Grey, Inc. c/o Rich May, P.C. 176 Federal Street
		 	Boston, MA 02110 Attn: President
	 	 	 
	To the Employee:	 	To the most recent address of Employee set forth in the personnel records of the Company.

 

or to such other
persons or other addresses as either party may specify to the other in writing. Notices and other communications to any recipient hereunder
may be delivered or furnished by electronic communication (including e-mail). Notices and other communications sent to an email address
shall be deemed received upon the sender's receipt of an acknowledgement from the intended recipient (such as by the "return receipt
requested" function, as available, return e-mail or other written acknowledgment); provided that if such notice or other communication
is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening
of business on the next business day for the recipient.

 

14. Rules
of Construction; Headings and Validity. This Employment Agreement will be construed in accordance with the laws of the Commonwealth
of Massachusetts. Any action arising out of this Employment Agreement or Employee's employment with the Company will be brought solely
in the state or Federal courts in the Commonwealth of Massachusetts. If any provision of this Employment Agreement or portion of such
provision, or the application thereof under any circumstances, is held invalid, the remainder of this Employment Agreement (or the remainder
of such provision) and the application thereof under other circumstances will not be affected by such partial invalidity.

 

15. Entire
Agreement; Termination of Prior Agreements. This Employment Agreement constitutes the entire agreement between the parties hereto
pertaining to the subject matter hereof and supersedes and expressly terminates all prior agreements, understandings, negotiations and
discussions, whether oral or written of the parties, and there are no wan-anties, representations or other agreements between the parties
in connection with the subject matter hereof, except as are specifically set forth herein. Except as otherwise provided by this Employment
Agreement, no supplement, modification, waiver or termination of this Employment Agreement will be binding unless executed in writing
by the party to be bound thereby. No waiver of any of the provisions of this Employment Agreement will be deemed or will constitute a
waiver of any other provision hereof (whether or not similar), nor will such waiver constitute a continuing waiver unless otherwise expressly
provide.

 

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16. Interpretation.
The parties hereto acknowledge and agree that: (i) each paiiy and its counsel reviewed and negotiated the terms and provisions of this
Employment Agreement and have contributed to its revision; (ii) the rule of construction to the effect that any ambiguities are resolved
against the drafting party shall not be employed in the interpretation of this Employment Agreement; and (iii) the terms and provisions
of this Employment Agreement shall be construed fairly as to all parties hereto and not in favor of or against any party, regardless of
which party was generally responsible for the preparation of this Employment Agreement.

 

17. Captions
and Headings. The captions and paragraph headings used in this Employment Agreement are for convenience of reference only and
shall not affect the construction or interpretation of this Employment Agreement or any of the provisions hereof.

 

18. Counterparts.
This Employment Agreement may be executed in multiple counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument.

 

19. Survival.
To the extent that the Company's forfeiture rights set forth in Section 9 have not lapsed in their entirety as of the termination or expiration
of this Employment Agreement, such remaining rights set forth in Section 9 shall survive termination of this Employment Agreement in accordance
with the terms thereof.

 

20. Compliance
with Section 409A. This Employment Agreement is intended to comply with the requirements of Section 409A of the Code and the regulations
promulgated thereunder (including the exceptions thereto) ("Section 409A"). To the extent that any provision in this
Employment Agreement is ambiguous as to its compliance with Section 409A, or to the extent any provision in this Employment Agreement
must be modified to comply with Section 409A, such provision shall be read, or shall be modified (with the mutual written consent of the
parties, which consent shall not be unreasonably withheld), as the case may be, in such a manner so that no payment due to the Employee
shall be subject to an "additional tax" within the meaning of Section 409A(a)(l)(B); provided that in no event shall the Company
be liable to the Employee or otherwise for any such "additional taxes."

 

[SIGNATURE PAGE TO FOLLOW]

 

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IN WITNESS
WHEREOF, the parties to this Employment Agreement have caused the same to be executed as of the date first above written.

 

	COMPANY:	BERKSHIRE GREY, INC.
	 	 
	 	/s/ Thomas Wagner
	 	Name: Thomas Wagner
	 	Title: President
	 	 	 
	EMPLOYEE:	THOMAS WAGNER
	 	 
	 	/s/ Thomas Wagner

  

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EXHIBIT A

 

Permitted Activities

 

		I)	Advisory board member for Near Earth Autonomy, a CMU spin-off
company in a complementary but non-competing area, where said commitment generally entails 1-3 meetings per year and an occasional phone
call or email.

 

		2)	Advisory board member for Brown University, the University
of Maine, and the University of New Hampshire where such activities generally require 1-2 partial day meetings per year per university
and an occasional phone call or email.

 

		3)	Board member activities of non-competing companies being spun
out of Void Pointer Technologies, LLC, specifically at the present time, Pizzazle Labs and CableBots.

 

		4)	Founder and CEO of Void Pointer Technologies, LLC, with the
understanding that it will be generally quiescent with the exception of maintaining its intellectual property, spinning out of assets,
and items such as filing tax returns required to remain a company in good standing.

 

		5)	Completion of film project with major motion picture company.
Final activities to include watching a few draft versions (aka screenings) and providing feedback.

 

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EXHIBIT B

 

Employee Restrictions and Proprietary
Information Agreement

 

 

10Exhibit 10.18

 

Certain portions of the exhibit have been omitted pursuant to Regulation
S-K Item 601 because they are both (i) not material to investors and (ii) likely to cause competitive harm to the Company if publicly
disclosed, and had been marked with “[***]” to indicate where omissions have been made.

 

MASTER PURCHASE AND LICENSE AGREEMENT

 

This Master Purchase and License
Agreement is entered into as of 6th June, 2019 (the “Effective Date”) by and between Berkshire Grey, Inc.,
a Delaware corporation (“Berkshire Grey”) whose principal place of business is located at 10 Maguire Road, Building
4, Suite 190, Lexington, MA 02421 and SoftBank Robotics Corp., a Japanese Corporation] whose principal address is located at [1-9-2 Higashi-shimbashi,Minato-ku,Tokyo
JAPAN (“Customer” or “SoftBank”). The agreement between the Parties consists of this Master Purchase
and License Agreement, any mutually executed statement of work, a form of which is attached hereto as Exhibit A (each, an “SOW”)
and all other exhibits and appendices attached hereto (collectively, the “Agreement”). The Parties have caused their
duly authorized representatives to execute and be bound by this Agreement as of the Effective Date.

 

1. DEFINITIONS.
The following capitalized terms will have the meanings set forth below in this Section 1.

 

1.1 “Affiliate”
means any corporation, company, partnership or other legal entity, which at any time directly or indirectly Controls, is Controlled by
or is under the common Control with a Party, but only for so long as such Control exists. “Control”, and its correlative
forms, means the ownership of more than fifty percent (50%) of the issued share capital of the entity in question.

 

1.2 “Equipment”
means the equipment identified in the SOW, including, without limitation, perception systems, sensors, computer servers, 6 DOF industrial
robot, weldments, cabling, control cabinets, instrumentation, network communication systems, and safety systems.

 

1.3 “Commissioning”
means integration of the Products with SoftBank’s warehouse management system, including successful communication between the Products
and the warehouse management system.

 

1.4 “Confidential
Information” means any material or information relating to a Party’s research, development, products, product plans, services,
Customers, Customer lists, markets, software, developments, inventions, processes, formulas, technologies, designs, drawings, marketing,
finances, or other business information or trade secrets that such disclosing Party treats as proprietary or confidential. Without limiting
the foregoing, the Licensed Products and any databases (including any data models, structures, non-Customer specific data and aggregated
statistical data contained therein) of Berkshire Grey will constitute Confidential Information of Berkshire Grey.

 

1.5 “Installation
and Implementation Services” means the installation and implementation of the Equipment and the Licensed Software to mount,
install and connect the Equipment and the Licensed Software at the Customer site, as more particularly described on a Statement of Work.

 

1.6 “Licensed
Documentation” means Berkshire Grey’s standard user manuals, specifications and/or related documentation generally made
available to Customers of the Licensed Software and Equipment.

 

    

     

    

 

1.7 “Licensed
Products” means, collectively, the Licensed Software and the Licensed Documentation.

 

1.8 “Licensed
Software” means, collectively, the executable, object code version(s) of Berkshire Grey’s proprietary software, procedures,
rules or routines, extensions, including Upgrades and Updates that are furnished or developed under this Agreement (including the Maintenance
and Support Services), excluding any third party applications, in each case that are ordered and paid for by Customer pursuant to an SOW.

 

1.9 “License
Term” means the period of time set forth on the particular SOW during which the Customer may use the Licensed Software as installed
on the Equipment.

 

1.10 “Maintenance
and Support Services” means the services described in Section 5.2 and Exhibit B.

 

1.11 “Maintenance
Term” means the period of time that Customer has purchased Maintenance and Support Services, as identified in the applicable
SOW.

 

1.12 “Party”
means either Berkshire Grey or Customer, as applicable, and “Parties” means Berkshire Grey and Customer, collectively.

 

1.13 “Products”
means, collectively, the Equipment, the Licensed Software, and any third party software and any patches, updates, upgrades, improvements,
additions and other modifications or revised versions that may be provided by Berkshire Grey from time to time ordered and paid for by
Customer pursuant to this Agreement.

 

1.14 “SoftBank
Group Companies” means Affiliates of SoftBank that are listed on Exhibit C attached hereto.

 

1.15 “Term”
means the period during which this Agreement remains in force and effect in accordance with Section 13.

 

1.16 “Updates”
means a new issuance of any Licensed Software that provides: (a) minor improvements to existing features; and/or (b) minor additions in
functionality compared to the previous issuance; and/or (c) bug fixes, corrections, patches, or work-arounds, made generally available
to Berkshire Grey’s other licensees that receive Maintenance and Support Services. An Update will be identified by the numeral change
to the right of the first decimal point (e.g. a change from version 1.5 to 1.6 or from 1.4.1 to 1.4.2).

 

1.17 “Upgrades”
means a new release of the Licensed Software issued by Berkshire Grey provided for the purpose of materially enhancing the functionality
or performance of such software, made generally available to Berkshire Grey’s other licensees that receive Maintenance and Support
Services. An Upgrade will be identified by an increase in the numeral to the left of the first decimal point (e.g. a change from version
1.1 to 2.0).

 

1.18 “Warehouse”
means a warehouse, owned or leased by Customer, that is identified on the applicable SOW.

 

1.19 “Warehouse
Location” means the location of the Warehouse set forth on the applicable SOW.

 

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2. PURCHASE
OF PRODUCTS AND SERVICES. During the Term, Customer may purchase, and Berkshire Grey may sell, Products,
Installation and Implementation Services and Maintenance and Support Services, pursuant to the terms and conditions of this Agreement
and one or more mutually agreed-upon SOWs, provided, however, that Customer’s rights in, and the use of, (a) any Licensed
Software, whether installed on such Equipment or provided separately, will be governed by the license grant and restrictions contained
in Section 6 and (b) any identified third party software will be governed by the applicable license agreement.

 

3. ACCEPTANCE;
CHANGES IN SCOPE.

 

3.1 Acceptance.
If agreed upon in a SOW, the Parties may specify acceptance criteria and/or milestone targets for a particular project. At the milestone
targets described in the SOW, Customer will have [***] (the “Acceptance Period”) to review and test the Equipment and/or
Installation and Implementation Services to determine whether the Equipment and/or Installation and Implementation Service meet the requirements
set forth in the SOW and, if applicable, the limited warranty described in Section 9.2 (“Field Acceptance Test”
or “FAT”). The parties agree and confirm that, if required by an SOW, FAT shall be performed only after the Parties
agree in writing that the Equipment meets the target quality thereof, including, but not limited to, (a) quality; and (b) testing process
and procedure, which shall be mutually agreed upon by the Parties in writing. If the Equipment and/or Installation and Implementation
Services do not meet the requirements set forth in the SOW or the limited warranty described in Section 9.2, then, no later than
[***] following expiration of the Acceptance Period, Customer will provide reasonably detailed written notice of any deficiencies to Berkshire
Grey (a “Rejection Notice”). If Customer either provides written notice of its acceptance of the applicable Equipment
and/or Installation and Implementation Services or does not provide a Rejection Notice by the required date, the applicable Equipment
and/or Installation and Implementation Services will be deemed accepted (“Acceptance” or “Accepted”).
Customer will not unreasonably withhold, condition or delay Acceptance. In the event that Customer delivers a Rejection Notice by the
required date, Berkshire Grey will use commercially reasonable efforts to cure the applicable deficiency within [***] of receipt of the
Rejection Notice and present the Equipment and/or Installation and Implementation Services to Customer for additional testing. Customer
shall retest such Equipment and/or Installation and Implementation Services in accordance with the above-described process in this Section
3.1. The Parties agree and acknowledge that Berkshire Grey’s ability to successfully complete the installation of the Equipment
and complete the performance of the Installation and Implementation Services may be affected by the Customer’s cooperation and the
performance of the Customer’s responsibilities and obligations as specified in a SOW. Any failure on the part of the Customer to
perform its obligations under a SOW or to make available the necessary resources required for Berkshire Grey to timely install the Equipment
and perform the Installation and Implementation Services (e.g., provisioning of the proper power supply), or any inaccuracy of the assumptions
set forth in a SOW will in no event affect or delay the Customer’s payment obligations under this Agreement or any SOW, and, in
such case, the Equipment and the Installation and Implementation Services will be deemed Accepted on the originally schedule installation
date.

 

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3.2 Change
Orders. Customer may request changes that affect the scope or duration of the Installation and Implementation Services relating to
any SOW (including temporarily suspending performance under the applicable SOW) by submitting a Change Request form as set forth in Attachment
A of the SOW. If Customer requests any such change, Berkshire Grey will notify Customer if it believes that an adjustment in the fees
to be paid to Berkshire Grey with respect to the applicable SOW, or an adjustment to the applicable SOW, is required. The Parties will
then negotiate in good faith a reasonable and equitable adjustment in each or any of the applicable fees, Installation and Implementation
Services and the SOW. Berkshire Grey will continue to perform pursuant to the existing SOW and will not be bound by any change requested
by Customer, until such change has been accepted in writing by both Parties.

 

4. DELIVERY
AND SHIPPING; RISK OF LOSS.

 

4.1 Delivery
and Shipping. Delivery terms are Delivery Duty Paid (DDP) (at the Warehouse identified in the SOW) (INCOTERMS 2010). Berkshire Grey
will be responsible for all applicable shipping fees, export and import duties, insurance, value added tax (VAT), goods and services taxes,
or other similar taxes and fees. Except for delays caused by SoftBank or a related entity or agent, Berkshire Grey shall deliver the Equipment
and perform Installation and Implementation Services by the deadline set forth in applicable SOW.

 

4.2 Title
to the Equipment. For all shipments, title to the Equipment, exclusive of Berkshire Grey’s rights to the Licensed Software and
other intellectual property installed on such Equipment, and risk of loss will pass to the Customer upon receipt of shipment from Berkshire
Grey at the shipping address designated by Customer, and for purposes of determining when any Licensed Software is delivered to the Customer,
such delivery will be deemed to have occurred at the point in time when Berkshire Grey makes available the Licensed Software for download.

 

4.3 Return
of Defective Computer Equipment and/or Licensed Software. Customer agrees to notify Berkshire Grey of any discrepancies or defective
Equipment or the Licensed Software within [***] of receipt at the applicable Warehouse. Berkshire Grey will make prompt arrangements to
fix any discrepancies and/or replace any defective Equipment or Licensed Software.

 

5. SERVICES.

 

5.1 Installation
and Implementation Services. Subject to the terms and conditions of this Agreement, the Customer may order, and Berkshire Grey agrees
to provide, the Installation and Implementation Services as the same is agreed upon in a separately executed SOW.

 

5.2 Maintenance
and Support. In consideration of the maintenance and support fees set forth in the applicable SOW and as further described in Exhibit
B, Customer has purchased the maintenance and support services set forth in Exhibit B (the “Maintenance and Support
Services”). The Maintenance and Support Services are updated periodically and may change from time to time in the normal course.

 

6. LICENSE
AND RESTRICTIONS.

 

6.1 Software.
Subject to the terms and conditions of this Agreement (including in any applicable SOW), Berkshire Grey hereby grants to Customer and
the Softbank Group Companies a limited, non-exclusive, perpetual, non-transferable, non-sublicensable right and license to use the Licensed
Software solely (a) as installed on the Equipment; and (b) for Customer’s internal operations at the Warehouse Location.

 

    4

     

    

 

6.2 Documentation.
Subject to the terms and conditions of the Agreement, Berkshire Grey hereby grants to Customer and the Softbank Group Companies a limited,
non-exclusive, perpetual, non-transferable, non-sublicensable right and license to use and make copies of the Licensed Documentation and
make translations of the Licensed Documentation into the language(s) set forth in the SOW, solely for use by Customer in the operation
of the Licensed Software and Equipment. No right is granted to modify, adapt, translate, publicly display, publish or create derivative
works of the Licensed Documentation, except those described in the immediately preceding sentence. The Licensed Documentation is Berkshire
Grey’s Confidential Information, and Customer will maintain and not remove any copyright notices, trademark notices, and confidentiality
notices therefrom.

 

7. GENERAL
USAGE RESTRICTIONS AND OWNERSHIP.

 

7.1 Prohibited
Uses. Customer will not use the Licensed Products for any purposes beyond the scope of the licenses granted in this Agreement. Without
limiting the generality of the foregoing, Customer will not: (a) distribute any copies of the Licensed Products; (b) assign, sublicense,
sell, lease or otherwise transfer or convey, or pledge as security or otherwise encumber, Customer’s rights under the licenses granted
in Section 3; (c) modify or create any derivative works of the Licensed Products (or any part thereof), except with the prior written
consent of Berkshire Grey; (d) use any Licensed Products for the benefit of any third parties (e.g., in an outsourcing or
service bureau relationship or otherwise to provide services to a third party) or in any way other than in its intended manner; or (e)
decompile, disassemble, reverse engineer or otherwise attempt to obtain or perceive the source code from which any component of the Licensed
Products are compiled or interpreted. Nothing in this Agreement will be construed to grant Customer any right to obtain or use such source
code.

 

7.2 Compliance
with Laws. Customer will undertake all measures necessary to ensure that its use of the Licensed Products complies in all respects
with all applicable laws, statutes, regulations, ordinances or other rules promulgated by governing authorities having jurisdiction over
the Licensed Products at the Warehouse Location.

 

7.3 Proprietary
Notices. Customer will duplicate all proprietary notices and legends of Berkshire Grey and its suppliers or licensors upon any and
all copies of the Licensed Products made by Customer. Customer will not remove, alter or obscure any such proprietary notice or legend.

 

7.4 Compliance
Records; Auditing Rights. Throughout the Term, Berkshire Grey will have the right, at its own expense, upon reasonable prior notice,
periodically to inspect and audit Customer’s use of the Licensed Products for purposes of determining Customer’s compliance
with the terms and conditions herein. Customer agrees to cooperate with Berkshire Grey in the performance of any such audit, and will
provide to Berkshire Grey such access to Customer’s relevant records, data, information, personnel and/or facilities as Berkshire
Grey may reasonably request for such limited purposes.

 

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7.5 Ownership.
Unless expressly stated in an SOW with reference made to this Section of this Agreement, Customer acknowledges that Berkshire Grey and
its licensors own all right, title, and interest, including all patent, copyright, trade secret, trademark, moral rights, mask work rights,
and other intellectual property rights (“Intellectual Property Rights”) in and to the Licensed Products (including
all components thereof) and Berkshire Grey expressly reserves all rights not expressly granted to Customer in this Agreement. Customer
will not engage in any act or omission that would impair Berkshire Grey’s and/or its licensors’ Intellectual Property Rights
in the Licensed Products and any other materials, information, processes or subject matter proprietary to Berkshire Grey.

 

8. FEES
AND PAYMENTS.

 

8.1 Fees
Payable. In consideration for the purchase of the Equipment and the licenses granted to Customer and the performance of Berkshire
Grey’s obligations under this Agreement, Customer will pay to Berkshire Grey the fees set forth in the applicable SOW in accordance
with the payment terms set forth below, which may be modified by each SOW. All other fees and reimbursable expenses will be due and payable
[***] after an invoice is issued by Berkshire Grey with respect thereto.

 

8.2 Payment
Terms. Berkshire Grey will invoice SoftBank per the schedule below. Invoices will be payable by SoftBank to Berkshire Grey [***] of
the invoice date. The payment milestone structure is as follows:

 

	Invoice

    Amount	 	Milestone
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]

 

8.3 Disputed
Charges. Customer must notify Berkshire Grey in writing of any dispute or disagreement with invoiced charges [***] date of invoice.
Absent such notice, Customer will be deemed to have agreed to the charges as invoiced after the expiration of such time period.

 

8.4 Late
Charges. Berkshire Grey reserves the right to charge, and Customer agrees to pay, a late charge [***] on any amount that is not the
subject of a good faith dispute that is unpaid on the due date, and on any other outstanding balance.

 

8.5 Taxes.
All amounts payable under this Agreement shall be paid by Customer inclusive of all applicable sales and use taxes, value-added taxes,
import duties, custom fees, and any other taxes applicable to such, and Berkshire Grey shall be responsible for the payment of all such
taxes, duties, and fees if applicable. Berkshire Grey will indemnify Customer for the payment of any such taxes, duties, and fees, together
with all liabilities, fines, costs, and expenses incurred by Customer, as a result of Berkshire Grey’s breach of its obligations
under this Section 8.5. In the event that any applicable tax authority requires Customer to withhold taxes on payment to Berkshire
Grey of any payments hereunder, Customer may make such withholding, submit such taxes to the applicable tax authority, pay Berkshire Grey
the remainder less such withholding and provide Berkshire Grey with reasonable evidence of the submission of such taxes to the applicable
tax authority. The Parties further agree to reasonably cooperate (including, without limitation, prior to the making of the first payment
of any payments hereunder) to provide any relevant documentation or certification that might be necessary to claim a reduced rate or withholding
or exemption from withholding under the provisions of any applicable tax treaty.

 

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9. WARRANTIES
AND LIMITATIONS.

 

9.1 General
Warranties. Each Party represents and warrants to the other Party that (a) it is an entity organized and existing under the laws of
its jurisdiction of organization with full power and authority to enter into and perform this Agreement; (b) this Agreement has been duly
authorized by all necessary corporate action and constitutes the binding obligation of such Party enforceable in accordance with its terms,
except as such enforceability may be limited by bankruptcy laws or other laws affecting the rights of creditors generally; (c) the person(s)
executing this Agreement on its behalf has actual authority to bind it to this Agreement; and (d) its execution and performance of this
Agreement does not and will not violate or conflict with any provision of its governing corporate instruments or of any commitment, agreement
or understanding that it has or will have to or with any person or entity.

 

9.2 Limited
Berkshire Grey Warranties. Berkshire Grey hereby warrants, for the benefit of Customer only, that (a) the Equipment will be free of
any and all material defects and conform in all material respects to the specifications for the Equipment within the Licensed Documentation
for [***] (“Equipment Warranty Period”) and (b) the Licensed Software will be free of any and all material defects
and conform in all material respects to the specifications for the Licensed Software within the Licensed Documentation for a [***] (collectively
with the Equipment Warranty Period, the “Warranty Period”), provided that, except as expressly set forth in the Licensed
Documentation or an SOW, such warranty will not apply to failures to conform to the specifications to the extent such failures arise,
in whole or in part, from: (i) any use of the Equipment or the Licensed Software other than in accordance with the Licensed Documentation;
(ii) modification of the Equipment or the Licensed Software by Customer or any third party; or (iii) any combination, operation, or use
of the Equipment or the Licensed Software with software, hardware or other technology not provided by Berkshire Grey under this Agreement.
During the Warranty Period, Berkshire Grey sole obligations and Customer’s sole remedy for a breach of the applicable warranty,
will be for Berkshire Grey repair or replace the non-conforming components of the Equipment and the Licensed Software, free of charge
to Customer, provided Customer promptly notifies Berkshire Grey of such defect and returns the Equipment and the Licensed Software to
Berkshire Grey within the applicable Warranty Period.

 

9.3 No
Other Warranties. EXCEPT AS EXPRESSLY WARRANTED IN THIS AGREEMENT, THE PRODUCTS AND THE LICENSED PRODUCTS, AND ANY OTHER MATERIALS,
SOFTWARE, DATA AND/OR SERVICES PROVIDED BY BERKSHIRE GREY ARE PROVIDED “AS IS” AND “WITH ALL FAULTS,” AND BERKSHIRE
GREY EXPRESSLY DISCLAIMS ALL OTHER WARRANTIES OF ANY KIND OR NATURE, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING, BUT NOT LIMITED
TO, ANY WARRANTIES OF TITLE, NONINFRINGEMENT, MERCHANTABILITY, SYSTEM INTEGRATION, OR FITNESS FOR A PARTICULAR PURPOSE. CUSTOMER IS RESPONSIBLE
FOR IMPLEMENTING APPROPRIATE PROCEDURES TO MAKE ONSITE BACK-UP COPIES OF CUSTOMER’S PROGRAM FILES AND DATA FILES TO MINIMIZE ANY
DAMAGE THAT MIGHT ARISE FROM AN ERROR OR DEFECT IN THE EQUIPMENT OR THE LICENSED PRODUCTS. NO WARRANTY IS MADE BY BERKSHIRE GREY ON THE
BASIS OF TRADE USAGE, COURSE OF DEALING OR COURSE OF TRADE. BERKSHIRE GREY DOES NOT WARRANT THAT THE EQUIPMENT OR THE LICENSED PRODUCTS
OR ANY OTHER INFORMATION, MATERIALS, TECHNOLOGY OR SERVICES PROVIDED UNDER THIS AGREEMENT WILL MEET CUSTOMER’S REQUIREMENTS OR THAT
THE OPERATION THEREOF WILL BE UNINTERRUPTED OR ERROR-FREE.

 

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10. LIMITATION
OF LIABILITY.

 

10.1 Limitations.
EXCEPT FOR ANY LIABILITY UNDER SECTION 11 HEREOF, IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY INCIDENTAL,
INDIRECT, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, REGARDLESS OF THE NATURE OF THE CLAIM, INCLUDING, WITHOUT LIMITATION, LOST PROFITS,
BUSINESS INTERRUPTION, COSTS OF LOST OR DAMAGED DATA OR DOCUMENTATION, EVEN IF BERKSHIRE GREY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES. THIS LIMITATION UPON DAMAGES AND CLAIMS IS INTENDED TO APPLY WITHOUT REGARD TO WHETHER OTHER PROVISIONS OF THIS AGREEMENT HAVE
BEEN BREACHED OR HAVE PROVEN INEFFECTIVE. EXCEPT FOR ANY LIABILITY UNDER SECTIONS 11 AND 12 HEREOF, THE LIABILITY OF EITHER
PARTY FOR ALL CLAIMS ARISING FROM OR RELATING TO AN SOW UNDER THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY CAUSE OF ACTION SOUNDING
IN CONTRACT, TORT OR STRICT LIABILITY, WILL NOT EXCEED THE TOTAL AMOUNT OF ALL FEES THEN-PAID OR PAYABLE TO BERKSHIRE GREY BY CUSTOMER
UNDER THE SOW TO WHICH THE CLAIM RELATES. THIS LIMITATION OF LIABILITY IS INTENDED TO APPLY WITHOUT REGARD TO WHETHER OTHER PROVISIONS
OF THIS AGREEMENT HAVE BEEN BREACHED OR HAVE PROVEN INEFFECTIVE.

 

10.2 Essential
Basis. The disclaimers, exclusions and limitations of liability set forth in this Agreement form an essential basis of the bargain
between the Parties, and, absent any of such disclaimers, exclusions or limitations of liability, the provisions of this Agreement, including,
without limitation, the economic terms, would be substantially different.

 

11. CONFIDENTIALITY.

 

11.1 Ownership
of Confidential Information. The Parties acknowledge that during the performance of this Agreement, each Party (the “Receiving
Party”) will have access to certain Confidential Information of the other party (the “Disclosing Party”)
or Confidential Information of third parties that the Disclosing Party is required to maintain as confidential. The Disclosing Party’s
Confidential Information is proprietary to the Disclosing Party or such third party, as applicable, and will remain the sole property
of the Disclosing Party or such third party.

 

11.2 Mutual
Confidentiality Obligations. Receiving Party agrees: (a) to use the Disclosing Party’s Confidential Information only for the
purposes described herein; (b) that Receiving Party will hold the Disclosing Party’s Confidential Information in confidence and
protect such Confidential Information from dissemination to, and use by, any third party; (c) that it will not create any derivative work
from the Disclosing Party’s Confidential Information; (d) to restrict access to the Disclosing Party’s Confidential Information
to such of its personnel, agents, and/or consultants, if any, who have a need to have access and who have been advised of and have agreed
in writing to treat such information in accordance with the terms of this Agreement; and (e) to return or destroy the Disclosing Party’s
Confidential Information in its possession upon termination or expiration of this Agreement.

 

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11.3 Confidentiality
Exceptions. Notwithstanding the foregoing, the provisions of Section 11.1 and Section 11.2 will not apply to information
that: (a) is publicly available or in the public domain at the time disclosed; (b) is or becomes publicly available or enters the public
domain through no fault of the Receiving Party; (c) is rightfully communicated to the Receiving Party by persons not bound by confidentiality
obligations with respect thereto; (d) is already in the Receiving Party’s possession free of any confidentiality obligations with
respect thereto at the time of disclosure; (v) is independently developed by the Receiving Party; or (e) is approved for release or disclosure
by the Disclosing Party without restriction. Notwithstanding the foregoing, Receiving Party may disclose Confidential Information to the
limited extent required: (x) in order to comply with the order of a court or other governmental body, or as otherwise necessary to comply
with applicable law, provided that the Receiving Party will first have given written notice to the Disclosing Party and made a reasonable
effort to obtain a protective order; or (y) to establish Receiving Party’s rights under this Agreement, including to make such court
filings as it may be required to do.

 

11.4 Feedback.

 

(a) If
a Customer authorized user submits technical support questions or comments to Berkshire Grey, Berkshire Grey may post those questions
or comments with the response on Berkshire Grey’s support website; provided, however, that Berkshire Grey will remove all information
that is personal to the user or confidential to Customer, and/or may directly or indirectly identify that the question/comment has originated
from Customer.

 

(b) Customer
may elect from time to time to provide suggestions or comments regarding enhancements or functionality or other feedback (“Feedback”)
to Berkshire Grey with respect to any Product. Berkshire Grey will have full discretion to determine whether or not to proceed with the
development of the requested enhancements, new features or functionality. Customer hereby grants Berkshire Grey a royalty-free, fully
paid-up, worldwide, transferable, sublicensable (directly and indirectly through multiple tiers of distribution), perpetual, irrevocable
license to (a) copy, distribute, transmit, display, perform, and modify and create derivative works of the Feedback, in whole or in part;
and (b) use the Feedback and/or any subject matter thereof, in whole or in part, including without limitation, the right to develop, manufacture,
have manufactured, market, promote, sell, have sold, offer for sale, have offered for sale, import, have imported, rent, provide and/or
lease products or services which incorporate, practice or embody, or are configured for use in practicing, the Feedback, in whole or in
part.

 

11.5 Equitable
Relief. Each Party acknowledges that its failure to comply with the provisions of this Section 10 may result in irreparable
harm to the other party for which a remedy at law would be inadequate, and therefore, in the event of the breach or threatened breach
by one Party of its obligations under this Section 10, the other Party may be entitled to seek equitable relief in the form of
specific performance and/or an injunction for any such actual or threatened breach, in addition to the exercise of any other remedies
at law and in equity.

 

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12. INDEMNIFICATION.

 

12.1 Indemnification
by Berkshire Grey. Berkshire Grey will (a) defend or settle at its expense any claim, suit or other proceeding brought by a third
party (a “Claim”) against Customer or any officer, director, agent, or employee of Customer (“Customer Parties”)
(i) alleging that the use of the Products as permitted under this Agreement infringes or conflicts with any patent, copyright, trade secret,
or any other Intellectual Property Rights (except for claims for which Berkshire Grey is entitled to indemnification under Section
12.2, in which case Berkshire Grey will have no obligations with respect to such claim); or (ii) for any product liability arising
under applicable law and/or regulation that is attributable to any Product, including death or bodily injury to any person, or damage
or loss to property or the environment; and (b) pay all damages and costs awarded by a court of competent jurisdiction against Customer
Parties with respect to such Claim or amounts payable pursuant to a settlement agreed to by Berkshire Grey. Except as expressly set forth
in the Licensed Documentation or an SOW, Berkshire Grey will have no liability or obligation under this Section 12.1 if the applicable
Claim arises in whole or in part from: (i) any use of the Equipment and the Licensed Products other than in accordance with the Licensed
Documentation; (ii) modification of the Equipment and the Licensed Products by Customer or any third party; or (iii) any combination,
operation, or use of the Equipment and/or the Licensed Products with software, hardware or other technology not provided by Berkshire
Grey under this Agreement. If the use of any Licensed Products by Customer has become, or in Berkshire Grey’s opinion is likely
to become, the subject of any claim of infringement, Berkshire Grey may at its option and expense (a) procure for Customer the right to
continue using the applicable Licensed Products as set forth hereunder; (b) replace or modify the applicable Licensed Products to make
them non-infringing so long as the Berkshire Grey Technology has at least equivalent functionality; (c) substitute an equivalent for the
applicable Licensed Products or (d) if options (a)-(c) are not reasonably practicable, terminate this Agreement and refund any prepaid
amounts for unused periods. This Section 12.1 states Berkshire Grey’s entire obligation and Customer’s sole remedies
in connection with any claim regarding the intellectual property rights of any third party.

 

12.2 Indemnification
by Customer. Customer will (a) defend or settle at its expense any Claim against Berkshire Grey or any officer, director, agent, or
employee of Berkshire Grey (“Berkshire Grey Parties”) arising from use of the Licensed Products other than as permitted
under this Agreement and (b) pay all damages and costs awarded by a court of competent jurisdiction against Berkshire Grey Parties with
respect to such Claim or amounts payable pursuant to a settlement agreed to by Customer.

 

12.3 Procedure.
If a Customer Party or a Berkshire Grey Party becomes aware of any Claim for which it believes it should be defended under Section
12.1 or Section 12.2, as applicable, such Customer Party or Berkshire Grey Party will (a) promptly notifies the other party
in writing of such Claim; (b) promptly give the other party the sole and exclusive right to control and direct the investigation, preparation,
defense and settlement of such Claim with counsel of defending party’s own choosing; provided that the party entitle to the defense
under this Section 12 will have the right to reasonably participate, at its own expense, in the defense or settlement of any such
Claim; and (c) gives assistance and full cooperation for the defense of same. Any compromise or settlement of a Claim will require the
prior written consent of both parties hereunder, such consent not to be unreasonably withheld or delayed.

 

13. TERM
AND TERMINATION.

 

13.1 Term
of Agreement. This Agreement will become effective upon the Effective Date and will continue in full force and effect for one (1)
year after the Effective Date unless terminated earlier pursuant to this Section 13. After the initial one (1) year period, this
Agreement will automatically renew for additional one (1) year period each (including the above initial term, the “Term”),
unless either Party provides written notice to the other Party of non-renewal at least ninety (90) days prior written notice; provided,
however, that this Agreement will remain in full force and effect until the expiration or termination of any Maintenance Term.
Contemporaneously with the execution of this Master Purchase and License Agreement, the Parties are entering into the initial SOW.

 

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13.2 Termination
for Breach. Either Party may terminate this Agreement (including all SOWs) immediately upon written notice in the event that the other
Party materially breaches this Agreement and thereafter (a) in the case of material breach resulting from non-payment of amounts due hereunder,
has failed to pay such amounts within ten (10) days after receiving written notice thereof; or (b) has failed to cure any other material
breach (or to commence diligent efforts to cure such breach that are reasonably acceptable to the terminating Party) within thirty (30)
days after receiving written notice thereof.

 

13.3 Termination
Upon Bankruptcy, Insolvency, Etc. Either Party may terminate this Agreement (including all SOWs) immediately upon written notice after
the other Party has executed an assignment for the benefit of creditors or filed for relief under any applicable bankruptcy, reorganization,
moratorium, or similar debtor relief laws, or in the event that a receiver has been appointed for the other Party or any of its assets
or properties, or an involuntary petition in bankruptcy has been filed against such other Party, which proceeding or petition has not
been dismissed, vacated, or stayed within thirty (30) days.

 

13.4 Termination
of Individual SOWs. In addition to each Party’s rights under Sections 13.2 and 13.3, each Party may terminate
any particular SOW according to any provision therein permitting such termination, provided that this Agreement and any other outstanding
SOWs will remain in full force and effect in accordance with their respective terms. Unless expressly stated otherwise in an SOW, Customer
may, at its option, terminate an SOW at any time by written notice to Berkshire Grey. Such notice shall specify the effective date of
such termination (“SOW Termination Date”). Upon receipt of such notice, Berkshire Grey shall (a) immediately discontinue
work under the SOW on the date specified in the notice and place no further orders or subcontracts for materials, services or facilities;
(b) promptly obtain cancellation of all purchase orders, subcontracts, rentals, or any other agreements existing for the performance of
the terminated SOW, or assign those agreements to Customer as directed; (c) assist Customer in the maintenance, protection, and disposition
of work in progress, plant, tools, equipment, property, and materials acquired by Berkshire Grey or furnished by Berkshire Grey under
this Agreement; and (d) complete performance of all work under the SOW up until the SOW Termination Date.

 

13.5 Cumulative
Remedies. Termination of this Agreement and/or any applicable SOW, regardless of cause or nature, will be without prejudice to any
other rights or remedies of the Parties and will be without liability for any loss or damage occasioned thereby. Except as otherwise expressly
stated in this Agreement, all remedies specified in this Agreement are cumulative with any other remedies that may be available at law
or in equity.

 

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13.6 Effect
of Termination.

 

(a) Termination
of this Agreement and/or any particular SOW will not release the Parties from any liability which, at the time of termination, has already
accrued or which thereafter may accrue with respect to any act or omission before termination, or from any obligation which is expressly
stated in this Agreement and/or any applicable SOW to survive termination. Notwithstanding the foregoing, the Party terminating this Agreement,
or any SOW as permitted by any provision in this Section 13 will incur no additional liability merely by virtue of such termination.
Upon any termination of this Agreement, each Party will: (i) immediately discontinue all use of the other Party’s Confidential Information;
and (ii) return to the other Party or, at the other Party’s option, destroy (including by deletion from its computer storage or
other media) all copies of such other Party’s Confidential Information then in its possession. .

 

(b) All
payments made to Berkshire Grey pursuant to this Agreement (including each SOW) are nonrefundable. Upon any termination of this Agreement
by Berkshire Grey pursuant to Section 13.2 or any termination of an SOW by Customer pursuant to Section 13.4, Customer shall
have no liability for any damages, including loss of anticipated profits (except for work completed or to be completed under the SOW),
and as its sole right and remedy Berkshire Grey shall be paid the following: (i) all amounts due and not previously paid to Berkshire
Grey for work completed in accordance with the SOW prior to such notice or termination, and for work thereafter up until the SOW Termination
Date; (ii) reasonable administrative costs of settling and paying claims arising out of the termination of the SOW under subcontracts
or purchase orders; and (iii) reasonable costs incurred in demobilization and disposition of residual material, plants, and equipment;
provided that Berkshire Grey shall be entitled to receive the payment for the (i), (ii) and (iii) above (A) limited to the portion of
the cost incurred by Berkshire Grey not expressly identified as covered by any and all the payment made by Customer under applicable SOW;
and (B) subject to summaries that reasonably identify the amount of the cost incurred.

 

(c) Upon
any termination of this Agreement by Customer pursuant to Section 13.2, Berkshire Grey shall not be entitled to receive further
payment except the payment under this subsection 13.6 (c). If the costs actually incurred by Customer to complete the work (“Completion
Costs”) exceed the unpaid balance of the outstanding SOWs (“Outstanding Balance”), Berkshire Grey shall reimburse
Customer the excess within thirty (30) days after receipt of an undisputed invoice therefor. If Customer’s Completion Costs combined
with the unpaid amount due to Berkshire Grey for the work completed prior to termination exceeds the Outstanding Balance, Customer reserves
the right to set off such excess against any amounts owing to Berkshire Grey for work completed prior to termination. If any unpaid amount
remains after Customer performs such setoff, Customer shall pay the remaining balance, to Berkshire Grey [***] determination of the final
amount owed to Berkshire Grey. The rights and remedies in this clause are in addition to the rights and remedies provided at law, in equity,
or under any other section in this Agreement, except that under no circumstances shall Berkshire Grey’s liability exceed the overall
limitation on liability under Section 10.1.

 

13.7 Survival
of Obligations. The provisions of Sections 1 (Definitions), 6 (License and Restrictions), 7 (General Usage Restrictions
and Ownership), 9 (Warrantees and Limitations), 10 (Limitation of Liability), 11 (Confidentiality), 12 (indemnification),
13 (Term and Termination) and 14 (Miscellaneous), as well as Customer’s obligations to pay any amounts due and outstanding
hereunder, will survive termination or expiration of this Agreement. Notwithstanding anything to the contrary in this Agreement, in the
event of a termination of this Agreement or an SOW by Berkshire Grey for breach, Section 6 will not survive.

 

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14. MISCELLANEOUS.

 

14.1 Applicable
Law. This Agreement and the rights and obligations of the Parties hereunder will be construed in accordance with, and will be governed
by, the laws of the State of California, without giving effect to its rules regarding conflict of laws. Customer expressly agrees with
Berkshire Grey that this Agreement will not be governed by the U.N. Convention on Contracts for the International Sale of Goods. Any controversy
or claim arising out of or relating to this contract, or the breach thereof, shall be determined by arbitration administered by the International
Centre for Dispute Resolution in accordance with its International Arbitration Rules. The seat of the arbitration shall be the State of
California. The tribunal shall consist of three (3) arbitrators. The language of the arbitration shall be English.

 

14.2 Non-Solicitation
of Employees. Neither Party will and neither Party will cause its agents, contractors or representatives to, during the term of this
Agreement and for one (1) year after its termination, solicit for hire as an employee, consultant or otherwise any of the other Party’s
personnel who have had direct involvement with any Products, without such other Party’s prior express written consent.

 

14.3 Force
majeure. Either Party will be excused from performance of its obligations under this Agreement if such a failure to perform results
from compliance with any requirement of applicable law, acts of god, fire, strike, embargo, terrorist attack, war, insurrection or riot
or other causes beyond the reasonable control. Any delay resulting from any of such causes will extend performance accordingly or excuse
performance, in whole or in part, as may be reasonable under the circumstances.

 

14.4 Publicity:
The Parties will mutually agree in writing before issuing or generating any publicity, news release or public announcement, written or
oral, relating to this Agreement or the existence of an arrangement between the Parties, without the prior written approval of the other
party, which approval will not be unreasonably withheld or delayed, except as otherwise required by law.

 

14.5 Notices.
All notices required by or relating to this Agreement will be in writing and will be sent by means of certified mail, postage prepaid,
to the Parties to the Agreement and addressed as set forth in the SOW or addressed to such other address as that Party may have given
by written notice in accordance with this provision. All notices required by or relating to this Agreement may also be communicated by
facsimile, provided that the sender receives and retains confirmation of successful transmittal to the recipient. Such notices will be
effective on the date indicated in such confirmation. In the event that either Party delivers any notice hereunder by means of facsimile
transmission in accordance with the preceding sentence, such Party will promptly thereafter send a duplicate of such notice in writing
by means of certified mail, postage prepaid, to the receiving Party, addressed as set forth above or to such other address as the receiving
Party may have previously substituted by written notice to the sender.

 

14.6 Assignment.
Neither Party will assign its rights or delegate its obligations under this Agreement (including any SOW) without the other Party’s
prior written consent, except that either Party (the “Assigning Party”) may assign this Agreement, by operation of
law or otherwise, without the written consent of other Party (the “Non-Assigning Party”) to a corporation or other
business entity succeeding to all or substantially all the assets and business of the Assigning Party to which this Agreement relates
by merger, purchase or otherwise, provided that (a) such corporation or other business entity expressly assumes all of the terms and conditions
of this Agreement, and (b) the Technology Acceleration Agreement, effective on or about the Effective Date, is assigned to the same such
corporation or other business entity (unless otherwise authorized in writing by the Non-Assigning Party). Any purported assignment or
delegation by a Party in violation of this Section 14.6 will be null, void and of no effect. This Agreement will be binding upon
and inure to the benefit of Berkshire Grey and Customer and their successors and permitted assigns.

 ’

    13

     

    

 

14.7 Independent
Contractors. Customer and Berkshire Grey acknowledge and agree that the relationship arising from this Agreement does not constitute
or create any joint venture, partnership, employment relationship or franchise between them, and the Parties are acting as independent
contractors in making and performing this Agreement.

 

14.8 Amendment.
No amendment to this Agreement or any SOW will be valid unless such amendment is made in writing and is signed by the authorized representatives
of the Parties.

 

14.9 Waiver.
No waiver under this Agreement will be valid or binding unless set forth in writing and duly executed by the Party against whom enforcement
of such waiver is sought. Any such waiver will constitute a waiver only with respect to the specific matter described therein and will
in no way impair the rights of the Party granting such waiver in any other respect or at any other time. Any delay or forbearance by either
Party in exercising any right hereunder will not be deemed a waiver of that right.

 

14.10 Severability.
If any provision of this Agreement is invalid or unenforceable for any reason in any jurisdiction, such provision will be construed to
have been adjusted to the minimum extent necessary to cure such invalidity or unenforceability. The invalidity or unenforceability of
one or more of the provisions contained in this Agreement will not have the effect of rendering any such provision invalid or unenforceable
in any other case, circumstance or jurisdiction, or of rendering any other provisions of this Agreement invalid or unenforceable whatsoever.

 

14.11 Export
Controls. The parties acknowledge that the Products are subject to export restrictions by the U.S. Government and may also be subject
to import restrictions by certain foreign governments.

 

(a) Responsibility
for Costs. Unless otherwise described herein or SOW, Customer or Berkshire Grey will, at its own expense, pay for all export and/or
import licenses, exceptions, exemptions, customs charges, duties and related fees, and take all other actions required to distribute,
export and/or import (directly or indirectly) any Products permitted by this Agreement.

 

(b) Regulations.
Customer will not, directly or indirectly, export or re-export, or knowingly permit the export or re-export of any Product to any country
for which approval is required under the laws of the United States or any other country unless the appropriate export license or approval
has first been obtained. Without limiting the generality of the foregoing, each Party agrees that it does not intend to nor will it, directly
or indirectly, engage in any export or re-export (i) to any prohibited destination under U.S. export or sanctions restrictions, or to
any national of any such country, wherever located, (ii) to any entity or individual who such party knows or has reason to know is engaging
in the design, development or production of nuclear, chemical or biological weapons, or missile technology, or (iii) to any entity or
individual who has been prohibited from participating in U.S. export transactions by any federal agency of the U.S. Government, including
the U.S. Department of Treasury’s Office of Foreign Assets Control and the U.S. Bureau of Industry and Security. Customer will provide
Berkshire Grey with copies of all export registrations and filings with the United States government.

 

14.12 No
Third Party Beneficiaries. The Parties acknowledge that the covenants set forth in this Agreement are intended solely for the benefit
of the Parties, their successors and permitted assigns. Nothing herein, whether express or implied, will confer upon any person or entity,
other than the Parties, their successors and permitted assigns, any legal or equitable right whatsoever to enforce any provision of this
Agreement.

 

14.13 Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed will be deemed to be an original and all
of which when taken together will constitute one Agreement.

 

14.14 Headings.
The headings in this Agreement are inserted merely for the purpose of convenience and will not affect the meaning or interpretation of
this Agreement.

 

14.15 Entire
Agreement. This Agreement (together with any SOW) sets forth the entire agreement and understanding between the Parties hereto with
respect to the subject matter hereof and, except as specifically provided herein, supersedes and merges all prior oral and written agreements,
discussions and understandings between the Parties with respect to the subject matter hereof, and neither of the Parties will be bound
by any conditions, inducements or representations other than as expressly provided for herein. Furthermore, this Agreement supersedes
and replaces any other license agreed to by Customer for the Licensed Materials.

 

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In Witness Whereof,
the Parties have caused this Agreement to be executed and delivered as of the Effective Date.

 

	BERKSHIRE GREY, INC.	 	SoftBank Robotics Corp.
	 	 	 	 	 
	By:  	/s/ Tom Wagner	 	By:	/s/ Kenichi Yoshida
	Print Name:  	Tom Wagner	 	Print Name: 	Kenichi Yoshida
	Title:  	CEO	 	Title:	 Chief Business Officer

 

     

     

    

 

 

  

EXHIBIT A

 

[***]

 

 

 

     

     

    

 

 

 

EXHIBIT B

 

[***]

 

 

  

     

     

    

 

 

 

EXHIBIT C

 

[***]

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