Document:

Exhibit 10.4

 

GP Draft dated November 20, 2020

 

INDEMNIFICATION AGREEMENT

(For Officers of a Delaware Corporation)

 

This Indemnification Agreement (“Agreement”)
is made as of ________________ by and between 908 Devices Inc., a Delaware corporation (the “Company”), and
____________ (“Indemnitee”).

 

RECITALS

 

WHEREAS, the Company desires to attract
and retain the services of highly qualified individuals, such as Indemnitee, to serve the Company;

 

WHEREAS, in order to induce Indemnitee to
[provide or continue to provide] services to the Company, the Company wishes to provide for the indemnification of, and advancement
of expenses to, Indemnitee to the maximum extent permitted by law;

 

WHEREAS, the Fifth Amended and Restated
Certificate of Incorporation (the “Charter”) and the Amended and Restated Bylaws (the “Bylaws”)
of the Company require indemnification of the officers and directors of the Company, and Indemnitee may also be entitled to indemnification
pursuant to the General Corporation Law of the State of Delaware (the “DGCL”);

 

WHEREAS, the Charter, the Bylaws and the
DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts
may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification;

 

WHEREAS, the Board of Directors of the Company
(the “Board”) has determined that the increased difficulty in attracting and retaining highly qualified persons
such as Indemnitee is detrimental to the best interests of the Company’s stockholders;

 

WHEREAS, it is reasonable and prudent for
the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent
permitted by applicable law, regardless of any amendment or revocation of the Charter or the Bylaws, so that they will [serve or
continue to serve] the Company free from undue concern that they will not be so indemnified;

 

WHEREAS, this Agreement is a supplement
to and in furtherance of the indemnification provided in the Charter, the Bylaws and any resolutions adopted pursuant thereto,
and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

  

    	 	 	 

     

    

 

NOW, THEREFORE, in consideration of the
premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

Section 1.             Services
to the Company. Indemnitee agrees to serve as an officer of the Company. Indemnitee may at any time and for any reason resign
from such position (subject to any other contractual obligation or any obligation imposed by law), in which event the Company shall
have no obligation under this Agreement to continue Indemnitee in such position. This Agreement shall not be deemed an employment
contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee.

 

Section 2.             Definitions.

 

As used in this Agreement:

 

(a)            “Affiliate”
and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended, as in effect on the date of this Agreement; provided, however,
that no Person who is a director or officer of the Company shall be deemed an Affiliate or an Associate of any other director or
officer of the Company solely as a result of his or her position as director or officer of the Company.

 

(b)            A
Person shall be deemed the “Beneficial Owner” of, and shall be deemed to “Beneficially Own” and have “Beneficial
Ownership” of, any securities:

 

(i)            which
such Person or any of such Person’s Affiliates or Associates, directly or indirectly, Beneficially Owns (as determined pursuant
to Rule 13d-3 of the Rules under the Exchange Act, as in effect on the date of this Agreement);

 

(ii)           which
such Person or any of such Person’s Affiliates or Associates, directly or indirectly, has: (A) the legal, equitable
or contractual right or obligation to acquire (whether directly or indirectly and whether exercisable immediately or only after
the passage of time, compliance with regulatory requirements, satisfaction of one or more conditions (whether or not within the
control of such Person) or otherwise) upon the exercise of any conversion rights, exchange rights, rights, warrants or options,
or otherwise; (B) the right to vote pursuant to any agreement, arrangement or understanding (whether or not in writing); or
(C) the right to dispose of pursuant to any agreement, arrangement or understanding (whether or not in writing) (other than
customary arrangements with and between underwriters and selling group members with respect to a bona fide public offering
of securities);

 

(iii)          which
are Beneficially Owned, directly or indirectly, by any other Person (or any Affiliate or Associate thereof) with which such Person
or any of such Person’s Affiliates or Associates has any agreement, arrangement or understanding (whether or not in writing)
(other than customary agreements with and between underwriters and selling group members with respect to a bona fide public
offering of securities) for the purpose of acquiring, holding, voting or disposing of any securities of the Company; or

 

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(iv)           that
are the subject of a derivative transaction entered into by such Person or any of such Person’s Affiliates or Associates,
including, for these purposes, any derivative security acquired by such Person or any of such Person’s Affiliates or Associates
that gives such Person or any of such Person’s Affiliates or Associates the economic equivalent of ownership of an amount
of securities due to the fact that the value of the derivative security is explicitly determined by reference to the price or value
of such securities, or that provides such Person or any of such Person’s Affiliates or Associates an opportunity, directly
or indirectly, to profit or to share in any profit derived from any change in the value of such securities, in any case without
regard to whether (A) such derivative security conveys any voting rights in such securities to such Person or any of such
Person’s Affiliates or Associates; (B) the derivative security is required to be, or capable of being, settled through
delivery of such securities; or (C) such Person or any of such Person’s Affiliates or Associates may have entered into
other transactions that hedge the economic effect of such derivative security;

 

Notwithstanding the foregoing, no Person
engaged in business as an underwriter of securities shall be deemed the Beneficial Owner of any securities acquired through such
Person’s participation as an underwriter in good faith in a firm commitment underwriting.

 

(c)            A
 “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of
any of the following events:

 

(i)  Acquisition
of Stock by Third Party. Any Person is or becomes the Beneficial Owner (as defined above), directly or indirectly, of securities
of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s then outstanding securities
unless the change in relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction
in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors, provided that
a Change of Control shall be deemed to have occurred if subsequent to such reduction such Person becomes the Beneficial Owner,
directly or indirectly, of any additional securities of the Company conferring upon such Person any additional voting power;

 

(ii) Change
in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution
of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director
designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 2(c)(i),
2(c)(iii) or 2(c)(iv) whose election by the Board or nomination for election by the Company’s stockholders was
approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the
period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority
of the members of the Board;

 

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(iii) Corporate
Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving or successor
entity) more than 50% of the combined voting power of the voting securities of the surviving or successor entity outstanding immediately
after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing
body of such surviving or successor entity;

  

(iv) Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale, lease, exchange
or other transfer by the Company, in one or a series of related transactions, of all or substantially all of the Company’s
assets; and

 

(v) Other Events.
There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of
Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act
of 1934, as amended, whether or not the Company is then subject to such reporting requirement.

 

(d)          “Corporate
Status” describes the status of a person as a current or former officer of the Company or current or former director,
manager, partner, officer, employee, agent or trustee of any other Enterprise which such person is or was serving at the request
of the Company.

 

(e)           “Enforcement
Expenses” shall include all reasonable attorneys’ fees, court costs, transcript costs, fees of experts, travel
expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other out-of-pocket
disbursements or expenses of the types customarily incurred in connection with an action to enforce indemnification or advancement
rights, or an appeal from such action. Expenses, however, shall not include fees, salaries, wages or benefits owed to Indemnitee.

 

(f)           “Enterprise”
shall mean any corporation (other than the Company), partnership, joint venture, trust, employee benefit plan, limited liability
company, or other legal entity of which Indemnitee is or was serving at the request of the Company as a director, manager, partner,
officer, employee, agent or trustee.

 

(g)           “Expenses”
shall include all reasonable attorneys’ fees, court costs, transcript costs, fees of experts, travel expenses, duplicating
costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other out-of-pocket disbursements
or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
being or preparing to be a witness in, or otherwise participating in, a Proceeding or an appeal resulting from a Proceeding. Expenses,
however, shall not include amounts paid in settlement by Indemnitee, the amount of judgments or fines against Indemnitee or fees,
salaries, wages or benefits owed to Indemnitee.

 

(h)          “Independent
Counsel” means a law firm, or a partner (or, if applicable, member or shareholder) of such a law firm, that is experienced
in matters of Delaware corporation law and neither presently is, nor in the past five (5) years has been, retained to represent:
(i) the Company, any subsidiary of the Company, any Enterprise or Indemnitee in any matter material to any such party; or
(ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct
then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to
above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out of or relating
to this Agreement or its engagement pursuant hereto.

 

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(k)          “Person”
shall mean (i) an individual, a corporation, a partnership, a limited liability company, an association, a joint stock company,
a trust, a business trust, a government or political subdivision, any unincorporated organization, or any other association or
entity including any successor (by merger or otherwise) thereof or thereto, and (ii) a “group” as that term is
used for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended.

 

(j)           The
term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, alternate dispute
resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether
brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, regulatory or investigative
nature, and whether formal or informal, in which Indemnitee was, is or will be involved as a party or otherwise by reason of the
fact that Indemnitee is or was an officer of the Company or is or was serving at the request of the Company as a director, manager,
partner, officer, employee, agent or trustee of any Enterprise or by reason of any action taken by Indemnitee or of any action
taken on his or her part while acting as an officer of the Company or while serving at the request of the Company as a director,
manager, partner, officer, employee, agent or trustee of any Enterprise, in each case whether or not serving in such capacity at
the time any liability or expense is incurred for which indemnification, reimbursement or advancement of expenses can be provided
under this Agreement; provided, however, that the term “Proceeding” shall not include any action, suit
or arbitration, or part thereof, initiated by Indemnitee to enforce Indemnitee’s rights under this Agreement as provided
for in Section 12(a) of this Agreement.

 

Section 3.              Indemnity
in Third-Party Proceedings. The Company shall indemnify Indemnitee to the extent set forth in this Section 3 if Indemnitee
is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the
Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified against all Expenses,
judgments, fines, penalties, excise taxes, and amounts paid in settlement actually and reasonably incurred by Indemnitee or on
his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and
in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal
proceeding, had no reasonable cause to believe that his or her conduct was unlawful.

 

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Section 4.              Indemnity
in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee to the extent set forth in this Section 4
if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company
to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee shall be indemnified against all Expenses
actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or
matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the
best interests of the Company. No indemnification for Expenses shall be made under this Section 4 in respect of any claim,
issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only
to the extent that the Delaware Court of Chancery (the “Delaware Court”) shall determine upon application that,
despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably
entitled to indemnification for such expenses as the Delaware Court shall deem proper.

  

Section 5.              Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provisions of this Agreement and except
as provided in Section 7, to the extent that Indemnitee is a party to or a participant in any Proceeding and is successful
in such Proceeding or in defense of any claim, issue or matter therein, the Company shall indemnify Indemnitee against all Expenses
actually and reasonably incurred by him or her in connection therewith. If Indemnitee is not wholly successful in such Proceeding
but is successful as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify
Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on his or her behalf in connection with each
successfully resolved claim, issue or matter. For purposes of this Section and without limitation, the termination of any
claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result
as to such claim, issue or matter.

 

Section 6.              Reimbursement
for Expenses of a Witness or in Response to a Subpoena. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee, by reason of his or her Corporate Status, (i) is a witness in any Proceeding to which Indemnitee is not a
party and is not threatened to be made a party or (ii) receives a subpoena with respect to any Proceeding to which Indemnitee
is not a party and is not threatened to be made a party, the Company shall reimburse Indemnitee for all Expenses actually and reasonably
incurred by him or her or on his or her behalf in connection therewith.

 

Section 7.              Exclusions.
Notwithstanding any provision in this Agreement to the contrary, the Company shall not be obligated under this Agreement:

 

(a)           to
indemnify for amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if and to the extent that
Indemnitee has otherwise actually received such amounts under any insurance policy, contract, agreement or otherwise; provided
that the foregoing shall not apply to any personal or umbrella liability insurance maintained by Indemnitee;

 

(b)           to
indemnify for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the
Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions
of state statutory law or common law, or from the purchase or sale by Indemnitee of such securities in violation of Section 306
of the Sarbanes-Oxley Act of 2002 (“SOX”);

 

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(c)           to
indemnify for any reimbursement of, or payment to, the Company by Indemnitee of any bonus or other incentive-based or equity-based
compensation or of any profits realized by Indemnitee from the sale of securities of the Company pursuant to Section 304 of
SOX or any formal policy of the Company adopted by the Board (or a committee thereof), or any other remuneration paid to Indemnitee
if it shall be determined by a final judgment or other final adjudication that such remuneration was in violation of law;

 

(d)           to
indemnify with respect to any Proceeding, or part thereof, brought by Indemnitee against the Company, any legal entity which it
controls, any director or officer thereof or any third party, unless (i) the Board has consented to the initiation of such
Proceeding or part thereof and (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers
vested in the Company under applicable law; provided, however, that this Section 7(d) shall not apply to
(A) counterclaims or affirmative defenses asserted by Indemnitee in an action brought against Indemnitee or (B) any action
brought by Indemnitee for indemnification or advancement from the Company under this Agreement or under any directors’ and
officers’ liability insurance policies maintained by the Company in the suit for which indemnification or advancement is
being sought as described in Section 12; or

 

(e)           to
provide any indemnification or advancement of expenses that is prohibited by applicable law (as such law exists at the time payment
would otherwise be required pursuant to this Agreement).

 

Section 8.              Advancement
of Expenses. Subject to Section 9(b), the Company shall advance the Expenses incurred by Indemnitee in connection with
any Proceeding, and such advancement shall be made within thirty (30) after the receipt by the Company of a statement or statements
requesting such advances (including any invoices received by Indemnitee, which such invoices may be redacted as necessary to avoid
the waiver of any privilege accorded by applicable law) from time to time, whether prior to or after final disposition of any Proceeding.
Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s (i) ability to
repay the expenses, (ii) ultimate entitlement to indemnification under the other provisions of this Agreement, and (iii) entitlement
to and availability of insurance coverage, including advancement, payment or reimbursement of defense costs, expenses or covered
loss under the provisions of any applicable insurance policy (including, without limitation, whether such advancement, payment
or reimbursement is withheld, conditioned or delayed by the insurer(s)). Indemnitee shall qualify for advances upon the execution
and delivery to the Company of this Agreement which shall constitute an undertaking providing that Indemnitee undertakes to the
fullest extent required by law to repay the advance if and to the extent that it is ultimately determined by a court of competent
jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. No other
form of undertaking shall be required. The right to advances under this paragraph shall in all events continue until final disposition
of any Proceeding, including any appeal therein. Nothing in this Section 8 shall limit Indemnitee’s right to advancement
pursuant to Section 12(e) of this Agreement.

 

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Section 9.              Procedure
for Notification and Defense of Claim.

 

(a)          To
obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request therefor specifying
the basis for the claim, the amounts for which Indemnitee is seeking payment under this Agreement, and all documentation related
thereto as reasonably requested by the Company.

 

(b)          In
the event that the Company shall be obligated hereunder to provide indemnification for or make any advancement of Expenses with
respect to any Proceeding, the Company shall be entitled to assume the defense of such Proceeding, or any claim, issue or matter
therein, with counsel approved by Indemnitee (which approval shall not be unreasonably withheld or delayed) upon the delivery to
Indemnitee of written notice of the Company’s election to do so. After delivery of such notice, approval of such counsel
by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement
for any fees or expenses of separate counsel subsequently employed by or on behalf of Indemnitee with respect to the same Proceeding;
provided that (i) Indemnitee shall have the right to employ separate counsel in any such Proceeding at Indemnitee’s
expense and (ii) if (A) the employment of separate counsel by Indemnitee has been previously authorized by the Company,
(B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee
in the conduct of such defense, (C) the Company shall not continue to retain such counsel to defend such Proceeding, or (D) a
Change in Control shall have occurred, then the fees and expenses actually and reasonably incurred by Indemnitee with respect to
his or her separate counsel shall be Expenses hereunder.

 

(c)           In
the event that the Company does not assume the defense in a Proceeding pursuant to paragraph (b) above, then the Company will
be entitled to participate in the Proceeding at its own expense.

 

(d)           The
Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding effected
without its prior written consent (which consent shall not be unreasonably withheld or delayed). Without limiting the generality
of the foregoing, the fact that an insurer under an applicable insurance policy delays or is unwilling to consent to such settlement
or is or may be in breach of its obligations under such policy, or the fact that directors’ and officers’ liability
insurance is otherwise unavailable or not maintained by the Company, may not be taken into account by the Company in determining
whether to provide its consent. The Company shall not, without the prior written consent of Indemnitee (which consent shall not
be unreasonably withheld or delayed), enter into any settlement which (i) includes an admission of fault of Indemnitee, any
non-monetary remedy imposed on Indemnitee or any monetary damages for which Indemnitee is not wholly and actually indemnified hereunder
or (ii) with respect to any Proceeding with respect to which Indemnitee may be or is made a party or may be otherwise entitled
to seek indemnification hereunder, does not include the full release of Indemnitee from all liability in respect of such Proceeding.

 

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Section 10.           Procedure
Upon Application for Indemnification.

  

(a)          Upon
written request by Indemnitee for indemnification pursuant to Section 9(a), a determination, if such determination is required
by applicable law, with respect to Indemnitee’s entitlement to indemnification hereunder shall be made in the specific case
by one of the following methods: (x) if a Change in Control shall have occurred, by Independent Counsel in a written opinion
to the Board; or (y) if a Change in Control shall not have occurred: (i) by a majority vote of the disinterested directors,
even though less than a quorum; (ii) by a committee of disinterested directors designated by a majority vote of the disinterested
directors, even though less than a quorum; or (iii) if there are no disinterested directors or if the disinterested directors
so direct, by Independent Counsel in a written opinion to the Board. For purposes hereof, disinterested directors are those members
of the Board who are not parties to the action, suit or proceeding in respect of which indemnification is sought. In the case that
such determination is made by Independent Counsel, a copy of Independent Counsel’s written opinion shall be delivered to
Indemnitee and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within
thirty (30) days after such determination. Indemnitee shall cooperate with the Independent Counsel or the Company, as applicable,
in making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such counsel
or the Company, upon reasonable advance request, any documentation or information which is not privileged or otherwise protected
from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. The Company shall
likewise cooperate with Indemnitee and Independent Counsel, if applicable, in making such determination with respect to Indemnitee’s
entitlement to indemnification, including providing to such counsel and Indemnitee, upon reasonable advance request, any documentation
or information which is not privileged or otherwise protected from disclosure and which is reasonably available to the Company
and reasonably necessary to such determination. Any out-of-pocket costs or expenses (including reasonable attorneys’ fees
and disbursements) actually and reasonably incurred by Indemnitee in so cooperating with the Independent Counsel or the Company
shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the
Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(b)          If
the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(a), the Independent
Counsel shall be selected by the Board if a Change in Control shall not have occurred or, if a Change in Control shall have occurred,
by Indemnitee. Indemnitee or the Company, as the case may be, may, within ten (10) days after written notice of such selection,
deliver to the Company or Indemnitee, as the case may be, a written objection to such selection; provided, however,
that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements
of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity
the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel.
If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel
unless and until such objection is withdrawn or the Delaware Court has determined that such objection is without merit. If, within
twenty (20) days after the later of (i) submission by Indemnitee of a written request for indemnification pursuant to Section 9(a),
and (ii) the final disposition of the Proceeding, including any appeal therein, no Independent Counsel shall have been selected
without objection, either Indemnitee or the Company may petition the Delaware Court for resolution of any objection which shall
have been made by Indemnitee or the Company to the selection of Independent Counsel and/or for the appointment as Independent Counsel
of a person selected by the court or by such other person as the court shall designate. The person with respect to whom all objections
are so resolved or the person so appointed shall act as Independent Counsel under Section 10(a) hereof. Upon the due
commencement of any judicial proceeding or arbitration pursuant to Section 12(a) of this Agreement, Independent
Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of
professional conduct then prevailing).

 

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(c)           Notwithstanding
anything to the contrary contained in this Agreement, the determination of entitlement to indemnification under this Agreement
shall be made without regard to the Indemnitee’s entitlement to and availability of insurance coverage, including advancement,
payment or reimbursement of defense costs, expenses or covered loss under the provisions of any applicable insurance policy (including,
without limitation, whether such advancement, payment or reimbursement is withheld, conditioned or delayed by the insurer(s)).

 

Section 11.            Presumptions
and Effect of Certain Proceedings.

 

(a)           To
the extent permitted by applicable law, in making a determination with respect to entitlement to indemnification hereunder, it
shall be presumed that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for
indemnification in accordance with Section 9(a) of this Agreement, and the Company shall have the burden of proof and
the burden of persuasion by clear and convincing evidence to overcome that presumption in connection with the making of any determination
contrary to that presumption.

 

(b)          The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a
plea of guilty, nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement)
of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good
faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company or, with
respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his or her conduct was unlawful.

 

(c)           Indemnitee
shall be deemed to have acted in good faith if Indemnitee’s actions are based on the records or books of account of the Company
or any other Enterprise, including financial statements, or on information supplied to Indemnitee by the directors, officers, agents
or employees of the Company or any other Enterprise in the course of their duties, or on the advice of legal counsel for the Company
or any other Enterprise or on information or records given or reports made to the Company or any other Enterprise by an independent
certified public accountant or by an appraiser or other expert selected with reasonable care by the Company or any other Enterprise.
The provisions of this Section 11(c) shall not be deemed to be exclusive or to limit in any way the other circumstances
in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. In addition, the
knowledge and/or actions, or failure to act, of any director, manager, partner, officer, employee, agent or trustee of the Company,
any subsidiary of the Company, or any Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification
under this Agreement. Whether or not the foregoing provisions of this Section 11(c) are satisfied, it shall in any event
be presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the
burden of persuasion by clear and convincing evidence.

 

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Section 12.            Remedies
of Indemnitee.

 

(a)           Subject
to Section 12(f), in the event that (i) a determination is made pursuant to Section 10 of this Agreement that Indemnitee
is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8
of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10(a) of
this Agreement within sixty (60) days after receipt by the Company of the request for indemnification for which a determination
is to be made other than by Independent Counsel, (iv) payment of indemnification or reimbursement of expenses is not made
pursuant to Section 5 or 6 or the last sentence of Section 10(a) of this Agreement within thirty (30) days after
receipt by the Company of a written request therefor (including any invoices received by Indemnitee, which such invoices may be
redacted as necessary to avoid the waiver of any privilege accorded by applicable law) or (v) payment of indemnification pursuant
to Section 3 or 4 of this Agreement is not made within thirty (30) days after a determination has been made that Indemnitee
is entitled to indemnification, Indemnitee shall be entitled to an adjudication by the Delaware Court of his or her entitlement
to such indemnification or advancement. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration
to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association.
Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date
on which Indemnitee first has the right to commence such proceeding pursuant to this Section 12(a); provided, however,
that the foregoing time limitation shall not apply in respect of a proceeding brought by Indemnitee to enforce his or her rights
under Section 5 of this Agreement. The Company shall not oppose Indemnitee’s right to seek any such adjudication or
award in arbitration.

 

(b)           In
the event that a determination shall have been made pursuant to Section 10(a) of this Agreement that Indemnitee is not
entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 12 shall be conducted
in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse
determination. In any judicial proceeding or arbitration commenced pursuant to this Section 12, the Company shall have the
burden of proving Indemnitee is not entitled to indemnification or advancement, as the case may be.

 

(c)           If
a determination shall have been made pursuant to Section 10(a) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

    	 	11	 

     

    

 

(d)           The
Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 12
that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court
or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

(e)            The
Company shall indemnify Indemnitee to the fullest extent permitted by law against any and all Enforcement Expenses and, if requested
by Indemnitee, shall (within thirty (30) days after receipt by the Company of a written request therefor) advance, to the extent
not prohibited by law, such Enforcement Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action
brought by Indemnitee for indemnification or advancement from the Company under this Agreement or under any directors’ and
officers’ liability insurance policies maintained by the Company in the suit for which indemnification or advancement is
being sought. Such written request for advancement shall include invoices received by Indemnitee in connection with such Enforcement
Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditures
made that would cause Indemnitee to waive any privilege accorded by applicable law need not be included with the invoice.

 

(f)           Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be
required to be made prior to the final disposition of the Proceeding, including any appeal therein.

 

Section 13.            Non-exclusivity;
Survival of Rights; Insurance; Subrogation.

 

(a)           The
rights of indemnification and to receive advancement as provided by this Agreement shall not be deemed exclusive of any other rights
to which Indemnitee may at any time be entitled under applicable law, the Charter, the Bylaws, any agreement, a vote of stockholders
or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall
limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in
his or her Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in Delaware law, whether
by statute or judicial decision, permits greater indemnification or advancement than would be afforded currently under the Charter,
Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits
so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every
other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other right or remedy.

 

(b)           To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, managers, partners,
officers, employees, agents or trustees of the Company or of any other Enterprise, Indemnitee shall be covered by such policy
or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, manager,
partner, officer, employee, agent or trustee under such policy or policies. If, at the time of the receipt of a notice of a claim
pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt
notice of such claim to the insurers in accordance with the procedures set forth in the respective policies. The Company shall
thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable
as a result of such Proceeding in accordance with the terms of such policies. Upon request of Indemnitee, the Company shall also
promptly provide to Indemnitee: (i) copies of all of the Company’s potentially applicable directors’ and officers’
liability insurance policies, (ii) copies of such notices delivered to the applicable insurers, and (iii) copies of all
subsequent communications and correspondence between the Company and such insurers regarding the Proceeding.

 

    	 	12	 

     

    

 

(c)          In
the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

(d)          The
Company’s obligation to provide indemnification or advancement hereunder to Indemnitee who is or was serving at the request
of the Company as a director, manager, partner, officer, employee, agent or trustee of any other Enterprise shall be reduced by
any amount Indemnitee has actually received as indemnification or advancement from such other Enterprise.

 

Section 14.            Duration
of Agreement. This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date
that Indemnitee shall have ceased to serve as an officer of the Company or (b) one (1) year after the final termination
of any Proceeding, including any appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement
hereunder and of any proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement relating thereto. This Agreement
shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and his or her heirs,
executors and administrators. The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written
agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same
manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 

Section 15.           Severability.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation,
each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that
is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable
to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary
to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent
possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing
any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be
construed so as to give effect to the intent manifested thereby.

 

    	 	13	 

     

    

 

Section 16.            Enforcement.

 

(a)          The
Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to [serve or continue to serve] as an officer of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as an officer of the Company.

 

(b)          This
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Charter, the Bylaws and
applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

 

Section 17.            Modification
and Waiver. No supplement, modification or amendment, or waiver of any provision, of this Agreement shall be binding unless
executed in writing by the parties thereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver. No supplement, modification
or amendment of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement
in respect of any action taken or omitted by such Indemnitee prior to such supplement, modification or amendment.

 

Section 18.            Notice
by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena,
complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification,
reimbursement or advancement as provided hereunder. The failure of Indemnitee to so notify the Company or any delay in notification
shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise, unless, and
then only to the extent that, the Company did not otherwise learn of the Proceeding and such delay is materially prejudicial to
the Company’s ability to defend such Proceeding or matter; and, provided, further, that notice will be deemed to have been
given without any action on the part of Indemnitee in the event the Company is a party to the same Proceeding.

 

Section 19.            Notices.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been
directed, (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which
it is so mailed, (iii) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication
shall have been directed or (iv) sent by facsimile transmission, with receipt of oral confirmation that such transmission
has been received:

 

    	 	14	 

     

    

 

(a)            If
to Indemnitee, at such address as Indemnitee shall provide to the Company.

 

(b)            If
to the Company to:

  

___________________________

___________________________

___________________________

Attention:___________________

 

or to any other address as may have been furnished to Indemnitee
by the Company.

 

Section 20.            Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to
Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred
by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses,
in connection with any Proceeding in such proportion as is deemed fair and reasonable in light of all of the circumstances in
order to reflect (i) the relative benefits received by the Company and Indemnitee in connection with the event(s) and/or
transaction(s) giving rise to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers,
employees and agents) and Indemnitee in connection with such event(s) and/or transactions.

 

Section 21.            Internal
Revenue Code Section 409A. The Company intends for this Agreement to comply with the Indemnification exception under Section 1.409A-1(b)(10) of
the regulations promulgated under the Internal Revenue Code of 1986, as amended (the “Code”), which provides
that indemnification of, or the purchase of an insurance policy providing for payments of, all or part of the expenses incurred
or damages paid or payable by Indemnitee with respect to a bona fide claim against Indemnitee or the Company do not provide for
a deferral of compensation, subject to Section 409A of the Code, where such claim is based on actions or failures to act by
Indemnitee in his or her capacity as a service provider of the Company. The parties intend that this Agreement be interpreted and
construed with such intent.

 

Section 22.            Applicable
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect
to any arbitration commenced by Indemnitee pursuant to Section 12(a) of this Agreement, the Company and Indemnitee hereby
irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement
shall be brought only in the Delaware Court, and not in any other state or federal court in the United States of America or any
court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any
action or proceeding arising out of or in connection with this Agreement, (iii) consent to service of process at the address
set forth in Section 19 of this Agreement with the same legal force and validity as if served upon such party personally within
the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court,
and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court
has been brought in an improper or inconvenient forum.

 

    	 	15	 

     

    

 

Section 23.            Headings.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction thereof.

  

Section 24.            Identical
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to
be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the
party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

Section 25.            Monetary
Damages Insufficient/Specific Enforcement. The Company and Indemnitee agree that a monetary remedy for breach of this Agreement
may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm.
Accordingly, the parties hereto agree that Indemnitee may enforce this Agreement by seeking injunctive relief and/or specific performance
hereof, without any necessity of showing actual damage or irreparable harm (having agreed that actual and irreparable harm will
result in not forcing the Company to specifically perform its obligations pursuant to this Agreement) and that by seeking injunctive
relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which
he may be entitled. The Company and Indemnitee further agree that Indemnitee shall be entitled to such specific performance and
injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity
of posting bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver, a bond
or undertaking may be required of Indemnitee by the Court, and the Company hereby waives any such requirement of a bond or undertaking.

 

[Remainder of Page Intentionally Left
Blank]

 

    	 	16	 

     

    

 

GP Draft dated November 20, 2020

 

IN WITNESS WHEREOF, the parties have caused
this Agreement to be signed as of the day and year first above written.

 

	 	908 Devices Inc.
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 	[Name of Indemnitee]Exhibit 10.5

 

MODEL

 

EMPLOYMENT
AGREEMENT

 

This Employment Agreement (“Agreement”)
is made between 908 Devices Inc. a Delaware corporation (the “Company”), and _____________________ (“You”)
and is effective as of the closing of the Company’s first underwritten public offering of its equity securities pursuant
to an effective registration statement under the Securities Act of 1933, as amended (the “Effective Date”). [Except
with respect to the Restrictive Covenants Agreement and the Equity Documents (each as defined below), this Agreement supersedes
in all respects all prior agreements between you and the Company regarding the subject matter herein, including without limitation
[(i) the Employment Agreement between you and the Company dated ______ (the “Prior Agreement”), and (ii)] any
offer letter, employment agreement or severance agreement.]

 

[WHEREAS, the Company desires to employ
you and you desire to be employed by the Company beginning on ______________, ____ (the “Effective Date”) on the terms
contained herein.] [OR] [WHEREAS, the Company desires to continue to employ you and you desire to continue to be employed
by the Company on the new terms and conditions contained herein.]

 

NOW, THEREFORE, in consideration of the
mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties agree as follows:

 

1.             Employment.

 

(a)            Term.
The Company shall employ you and you shall be employed by the Company pursuant to this Agreement commencing as of the Effective
Date and continuing until such employment is terminated in accordance with the provisions hereof (the “Term”). Your
employment with the Company shall [be/continue to be] “at will,” meaning that your employment may be terminated
by the Company or you at any time and for any reason subject to the terms of this Agreement.

 

(b)            Position
and Duties. You shall serve as the [Title] of the Company and shall have such powers and duties as may from
time to time be prescribed by the [Board of Directors (the “Board”)/Chief Executive Officer (the “CEO”)
or other duly authorized executive], provided that such duties are consistent with your position or other positions that you
may hold from time to time. You shall devote your full working time and efforts to the business and affairs of the Company. Notwithstanding
the foregoing, you may (i) serve on other boards of directors or serve as an advisor to non-competitive private or public
companies, in each case subject to the advance written approval of the [Board/CEO], which approval shall not unreasonably
be withheld; and (ii) engage in religious, charitable or other community activities, as long as such services and activities
((i) and (ii)) do not materially interfere with your performance of your duties to the Company as provided in this Agreement.

 

     

     

    

 

2.             Compensation
and Related Matters.

 

(a)            Base
Salary. Your initial base salary under this Agreement shall be paid at the rate of $[__________] per year. Your base
salary shall be subject to periodic review by the Board or the Compensation Committee of the Board (the “Compensation Committee”),
but no less frequently than annually. The base salary in effect at any given time is referred to herein as “Base Salary.”
The Base Salary shall be payable in a manner that is consistent with the Company’s usual payroll practices for executive
officers, but no less frequently than monthly.

 

(b)            Incentive
Compensation. You shall be eligible to receive annual cash incentive compensation for each calendar year which ends during
the Term and for each partial year, on a pro rata basis, in each case as determined by the Board or the Compensation Committee.
Commencing in calendar year 2021, your initial target annual incentive compensation, including bonuses and/or commissions as applicable,
shall be [___] percent of your Base Salary. The target annual incentive compensation in effect at any given time is referred to
herein as “Target Bonus.” The actual amount of your annual incentive compensation, if any, shall be based on the Company’s
and your performance against objectives to be developed and set from time to time, and determined in the sole discretion of the
Board or the Compensation Committee, subject to the terms of any applicable incentive compensation plan that may be approved by
the Board or the Compensation Committee and in effect from time to time. Except as provided in Sections 5(a) and 6(a)(i) of
this Agreement, to earn incentive compensation, you must be employed by the Company on the day such incentive compensation is
paid.

 

(c)            Expenses.
You shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by you during the Term in performing
services hereunder, in accordance with and subject to the policies and procedures then in effect and established by the Company
for its executive officers.

 

(d)            Other
Benefits. You shall be eligible to participate in or receive benefits under the Company’s employee benefit plans in
effect from time to time, subject to the terms of such plans.

 

(e)            Vacations
and Other Paid Time Off. You shall be entitled to take paid time off in accordance with and subject to the Company’s
applicable paid time off policy for executives, as may be in effect from time to time.

 

(f)             Equity.
The equity awards held by you shall continue to be governed by the terms and conditions of the Company’s applicable equity
incentive plan(s) and the applicable award agreement(s) governing the terms of such equity awards held by you (collectively,
the “Equity Documents”).

 

3.             Termination.
Your employment hereunder may be terminated without any breach of this Agreement under the following circumstances;

 

(a)            Death.
Your employment hereunder shall terminate upon death.

 

    	 	2	 

     

    

 

(b)            Disability.
The Company may terminate your employment if you are disabled and unable to perform or expected to be unable to perform the essential
functions of your then existing position or positions under this Agreement with or without reasonable accommodation for a period
of 180 days (which need not be consecutive) in any 12-month period. If any question shall arise as to whether during any period
you are disabled so as to be unable to perform the essential functions of your then existing position or positions with or without
reasonable accommodation, you may, and at the request of the Company shall, submit to the Company a certification in reasonable
detail by a physician selected by the Company to whom you or your guardian has no reasonable objection as to whether you are disabled
or how long such disability is expected to continue, and such certification shall for the purposes of this Agreement be conclusive
of the issue. You shall cooperate with any reasonable request of the physician in connection with such certification. If such
question shall arise and you shall fail to submit such certification, the Company’s determination of such issue shall be
binding on you. Nothing in this Section 3(b) shall be construed to waive your rights, if any, under existing law including,
without limitation, the Family and Medical Leave Act of 1993, 29 U.S.C. §2601 et seq. and the Americans with Disabilities
Act, 42 U.S.C. §12101 et seq.

 

(c)            Termination
by Company for Cause. The Company may terminate your employment hereunder for Cause. For purposes of this Agreement,
 “Cause” shall mean any of the following:

 

(i)            conduct
by you constituting a material act of misconduct in connection with the performance of your duties that has caused, or is reasonably
likely to cause, the Company material economic harm;

 

(ii)           your
conviction or indictment of, or plea of no contest to, any felony, or any misdemeanor involving moral turpitude, deceit, dishonesty
or fraud;

 

(iii)          a
material breach by you of any of the provisions contained in the Restrictive Covenants Agreement; or

 

(iv)          a
knowing and material violation by you of any of the Company’s material written employment policies.

 

provided, however, that for Cause to exist for the purposes
of (iii) and (iv) above: (I) you must have failed to cure such breach or violation within 10 days after notice
of such breach or violation from the [Board/CEO] in the case of (iii), and within 30 days after such notice in the case
of (iv), and (II) such breach or violation must have caused, or in the case of (iii) caused or be imminently likely
to cause, the Company material harm.

 

(d)            Termination
Without Cause. The Company may terminate your employment hereunder at any time without Cause. Any termination by the
Company of your employment under this Agreement which does not constitute a termination for Cause under Section 3(c) and
does not result from the death or disability of you under Section 3(a) or (b) shall be deemed a termination without
Cause.

 

    	 	3	 

     

    

 

(e)            Termination
by You. You may terminate your employment hereunder at any time for any reason, including but not limited to Good Reason.
For purposes of this Agreement, “Good Reason” shall mean that you have complied with the “Good Reason Process”
(hereinafter defined) following the occurrence of any of the following events without your consent (each, a “Good Reason
Condition”):

 

(i)             a
material diminution in your responsibilities, authority or duties;

 

(ii)            a
material diminution in your Base Salary or annual cash incentive compensation opportunity, in each case, except for across-the-board
reductions based on the Company’s financial performance similarly affecting all or substantially all senior management employees
of the Company;

 

(iii)           a
material change in the geographic location at which you provide services to the Company such that your one-way commute increases
by more than 30 miles; or

 

(iv)           the
material breach of this Agreement by the Company.

 

The “Good Reason Process” consists of the following
steps:

 

(i)             you
reasonably determine in good faith that a “Good Reason Condition” has occurred;

 

(ii)            you
notify the Company in writing of the occurrence of the Good Reason Condition within 90 days of the first occurrence of such condition;

 

(iii)           you
cooperate in good faith with the Company’s efforts, if any, for a period of not less than 30 days following such notice
(the “Cure Period”), to remedy the Good Reason Condition;

 

(iv)           notwithstanding
such efforts, the Good Reason Condition continues to exist; and

 

(v)            you
terminate your employment within 90 days after the end of the Cure Period.

 

If the Company cures the Good Reason Condition identified in
the notice during the Cure Period, that Good Reason Condition shall be deemed not to have occurred.

 

(f)             If
your employment with the Company is terminated for any reason, the Company shall pay or provide to you (or to your authorized
representative or estate) (i) any Base Salary earned through the Date of Termination, (ii) unpaid expense reimbursements
(subject to, and in accordance with, Section 2(c) of this Agreement) and (iii) any vested benefits you may have
under any employee benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided
in accordance with the terms of such employee benefit plans (collectively, the “Accrued Obligations”).

 

    	 	4	 

     

    

 

4.             Notice
and Date of Termination.

 

(a)            Notice
of Termination. Except for termination as specified in Section 3(a), any termination of your employment by the
Company or any such termination by you shall be communicated by written Notice of Termination to the other party hereto. For purposes
of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision
in this Agreement relied upon.

 

(b)            Date
of Termination. “Date of Termination” shall mean: (i) if your employment is terminated by your death,
the date of your death; (ii) if your employment is terminated on account of disability under Section 3(b), the date
on which Notice of Termination is given; (iii) if your employment is terminated by the Company for Cause under Section 3(c),
the date on which Notice of Termination is given after the end of any Cure Period; (iv) if your employment is terminated
by the Company without Cause under Section 3(d), the date on which a Notice of Termination is given or the date otherwise
specified by the Company in the Notice of Termination; (v) if your employment is terminated by you under Section 3(e) other
than for Good Reason, 30 days after the date on which a Notice of Termination is given, and (vi) if your employment is terminated
by you under Section 3(e) for Good Reason, the date on which a Notice of Termination is given after the end of the Cure
Period. Notwithstanding the foregoing, in the event that you give a Notice of Termination to the Company, the Company may unilaterally
accelerate the Date of Termination and such acceleration shall not result in a termination by the Company for purposes of this
Agreement; provided, however, that, notwithstanding the above, it is understood that if the Company accelerates the Date of Termination
after a Good Reason Process has been initiated by you, and the termination by the Company is prior to the end of the Cure Period,
then Good Reason shall be deemed to occur as of such termination.

 

5.             Severance
Pay and Benefits Upon Termination by the Company without Cause or by You for Good Reason Outside the Change in Control Period.
If your employment is terminated by the Company without Cause as provided in Section 3(d), or you terminate your employment
for Good Reason as provided in Section 3(e), in either case outside of the Change in Control Period (as defined below), then,
in addition to the Accrued Obligations, and in either case subject to (i) you signing the release agreement attached hereto as
Exhibit A (the “Separation Agreement and Release”) and (ii) the Separation Agreement and Release becoming irrevocable,
all within the time period required in the Separation Agreement and Release but in no event later than 60 days after the Date
of Termination:

 

(a)            if
the Date of Termination occurs after the last day of the year to which a bonus applies but before the Company pays such bonus,
and if you have earned such bonus under Section 2(b), the Company shall determine the amount and pay you such bonus in a
lump sum when the Company determines and pays bonuses to senior executives for the applicable year (the “Prior Year Earned
Bonus”);

 

(b)            the
Company shall pay you your annual bonus for the year in which the Date of Termination occurs, if such bonus is earned under Section 2(b),
prorated by multiplying such bonus by a fraction, the numerator of which is the number of days you were employed by the Company
during the year in which the Date of Termination occurs and the denominator of which is the number of days in such year (the “Current
Year Prorated Bonus”). The Company shall determine the amount and pay you any Current Year Prorated Bonus in a lump sum
when the Company determines and pays bonuses to senior executives for the applicable year;

 

    	 	5	 

     

    

 

(c)            the
Company shall pay you Base Salary, in accordance with the Company’s regular payroll practices, for a period of [___] months
following the date of termination (together with any Prior Year Earned Bonus and Current Year Prorated Bonus, the “Severance
Amount”);

 

(d)            subject
to your copayment of premium amounts at the applicable active employees’ rate and your proper election to receive benefits
under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall pay to the
group health plan provider, the COBRA provider or you a monthly payment equal to the monthly employer contribution that the Company
would have made to provide health insurance to you if you had remained employed by the Company until the earliest of (A) the
[__] month anniversary of the Date of Termination; (B) your eligibility for group medical plan benefits under any other employer’s
group medical plan; or (C) the cessation of your continuation rights under COBRA; provided, however, if the Company determines
that it cannot pay such amounts to the group health plan provider or the COBRA provider (if applicable) without potentially violating
applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then the Company shall convert
such payments to payroll payments directly to you for the time period specified above. Such payments shall be subject to tax-related
deductions and withholdings and paid on the Company’s regular payroll dates. You agree that you shall remain responsible
for the employee portion of the health insurance contribution. You authorize the deduction of such employee portion from the Severance
Amount.

 

(e)            The
amounts payable under Sections 5(c) and (d), to the extent taxable, shall be paid out in substantially equal installments
in accordance with the Company’s payroll practice over [__] months commencing within 60 days after the Date of Termination;
provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the Severance Amount,
to the extent it qualifies as “non-qualified deferred compensation” within the meaning of Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”), shall begin to be paid in the second calendar year by the
last day of such 60-day period; provided, further, that the initial payment shall include a catch-up payment to cover amounts
retroactive to the day immediately following the Date of Termination. Each payment pursuant to this Agreement is intended to constitute
a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2).

 

6.             Severance
Pay and Benefits Upon Termination by the Company without Cause or by the You for Good Reason within the Change in Control Period.
The provisions of this Section 6 shall apply in lieu of, and expressly supersede, the provisions of Section 5 if (i) your
employment is terminated either (a) by the Company without Cause as provided in Section 3(d), or (b) by you for
Good Reason as provided in Section 3(e), and (ii) the Date of Termination is within 12 months after the occurrence of
the first event constituting a Change in Control (such period, the “Change in Control Period”). These provisions shall
terminate and be of no further force or effect after a Change in Control Period.

 

    	 	6	 

     

    

 

(a)            If
your employment is terminated by the Company without Cause as provided in Section 3(d) or you terminate employment for
Good Reason as provided in Section 3(e) and in either case the Date of Termination occurs during the Change in Control
Period, then, in addition to the Accrued Obligations, and subject to the signing of the Separation Agreement and Release by you
and the Separation Agreement and Release becoming fully effective, all within the time frame set forth in the Separation Agreement
and Release but in no event more than 60 days after the Date of Termination:

 

(i)             the
Company shall pay you any Prior Year Earned Bonus, at the time and in the manner provided in Section 5(a);

 

(ii)            the
Company shall pay you any Current Year Prorated Bonus, at the time and in the manner provided in Section 5(b);

 

(iii)           the
Company shall pay you a lump sum in cash in an amount equal to [___] times the sum of: (A) your then current Base Salary
(or your Base Salary in effect immediately prior to the Change in Control, if higher), plus (B) your Average Bonus. “Average
Bonus” means the average of the annual cash bonuses and commission payments per year, if applicable, received by you for
the three (3) full calendar years immediately preceding the Date of Termination. If you have been employed by the Company
for less than three (3) full calendar years as of the Date of Termination, the Average Bonus shall be calculated using the
prior one (1) or two (2) full calendar years, as applicable. If you have been employed by the Company for less than
one (1) full calendar year as of the Date of Termination, you shall not receive any Average Bonus. To avoid doubt, the Average
Bonus calculation shall not include any “change of control” bonus, “sale of the Company” bonus, signing
bonus or other special bonus (other than annual bonuses and commission payments per year), in each case that you have received
or for which you are eligible.

 

(iv)           notwithstanding
anything to the contrary in any applicable option agreement or other stock-based award agreement, all time-based stock options
and other stock-based awards subject to time-based vesting held by you (the “Time-Based Equity Awards”) shall immediately
accelerate and become fully exercisable or nonforfeitable as of the later of (i) the Date of Termination or (ii) the
effective date of the Separation Agreement and Release (the “Accelerated Vesting Date”); provided that any
termination or forfeiture of the unvested portion of such Time-Based Equity Awards that would otherwise occur on the Date of Termination
in the absence of this Agreement will be delayed until the effective date of the Separation Agreement and Release and will only
occur if the vesting pursuant to this subsection does not occur due to the absence of the Separation Agreement and Release becoming
fully effective within the time period set forth therein. Notwithstanding the foregoing, no additional vesting of the Time-Based
Equity Awards shall occur during the period between your Date of Termination and the Accelerated Vesting Date; and

 

    	 	7	 

     

    

 

(v)            subject
to your copayment of premium amounts at the applicable active employees’ rate and your proper election to receive benefits
under COBRA, the Company shall pay to the group health plan provider, the COBRA provider or you a monthly payment equal to the
monthly employer contribution that the Company would have made to provide health insurance to you if you had remained employed
by the Company until the earliest of (A) the [__] month anniversary of the Date of Termination; (B) your eligibility
for group medical plan benefits under any other employer’s group medical plan; or (C) the cessation of your continuation
rights under COBRA; provided, however, if the Company determines that it cannot pay such amounts to the group health plan provider
or the COBRA provider (if applicable) without potentially violating applicable law (including, without limitation, Section 2716
of the Public Health Service Act), then the Company shall convert such payments to payroll payments directly to you for the time
period specified above. Such payments shall be subject to tax-related deductions and withholdings and paid on the Company’s
regular payroll dates. You agree that you shall remain responsible for the employee portion of the health insurance contribution.

 

The amounts payable under Sections 6(a)(iii), (iv) and
(v), to the extent taxable, shall be paid or provided within 60 days after the Date of Termination; provided, however, that if
the 60-day period begins in one calendar year and ends in a second calendar year, such payments to the extent they qualify as
 “non-qualified deferred compensation” within the meaning of Section 409A of the Code, shall be paid or commence
to be paid in the second calendar year by the last day of such 60-day period.

 

(b)            Additional
Limitation.

 

(i)             Anything
in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or distribution by
the Company to or for the benefit of you, whether paid or payable or distributed or distributable pursuant to the terms of this
Agreement or otherwise, calculated in a manner consistent with Section 280G of the Code and the applicable regulations thereunder
(the “Aggregate Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, then the
Aggregate Payments shall be reduced (but not below zero) so that the sum of all of the Aggregate Payments shall be $1.00 less
than the amount at which you become subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction
shall only occur if it would result in you receiving a higher After Tax Amount (as defined below) than you would receive if the
Aggregate Payments were not subject to such reduction. In such event, the Aggregate Payments shall be reduced in the following
order, in each case, in reverse chronological order beginning with the Aggregate Payments that are to be paid the furthest in
time from consummation of the transaction that is subject to Section 280G of the Code: (1) cash payments not subject
to Section 409A of the Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based payments
and acceleration; and (4) non-cash forms of benefits; provided that in the case of all the foregoing Aggregate Payments all
amounts or payments that are not subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall
be reduced before any amounts that are subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c).

 

    	 	8	 

     

    

 

(ii)            For
purposes of this Section 6(b), the “After Tax Amount” means the amount of the Aggregate Payments less all federal,
state, and local income, excise and employment taxes imposed on you as a result of your receipt of the Aggregate Payments. For
purposes of determining the After Tax Amount, you shall be deemed to pay federal income taxes at the highest marginal rate of
federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and
local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum
reduction in federal income taxes which could be obtained from deduction of such state and local taxes.

 

(iii)           The
determination as to whether a reduction in the Aggregate Payments shall be made pursuant to Section 6(b)(i) shall be
made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide
detailed supporting calculations both to the Company and you within 15 business days of the Date of Termination, if applicable,
or at such earlier time as is reasonably requested by the Company or you. Any determination by the Accounting Firm shall be binding
upon the Company and you.

 

(c)            Definitions.
For purposes of this Section 6, the following terms shall have the following meanings:

 

“Change in Control” shall mean
any of the following:

 

(i)             any
 “person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934,
as amended (the “Act”) (other than the Company, any of its subsidiaries, or any trustee, fiduciary or other person
or entity holding securities under any employee benefit plan or trust of the Company or any of its subsidiaries), together with
all “affiliates” and “associates” (as such terms are defined in Rule 12b-2 under the Act) of such
person, shall become the “beneficial owner” (as such term is defined in Rule 13d-3 under the Act), directly or
indirectly, of securities of the Company representing 50 percent or more of the combined voting power of the Company’s then
outstanding securities having the right to vote in an election of the Board (“Voting Securities”) (in such case other
than as a result of an acquisition of securities directly and exclusively from the Company); or

 

(ii)            the
date a majority of the 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 before the date of the appointment or election; or

 

(iii)           the
consummation of (A) any consolidation or merger of the Company where the stockholders of the Company, immediately prior to
the consolidation or merger, would not, immediately after the consolidation or merger, beneficially own (as such term is defined
in Rule 13d-3 under the Act), directly or indirectly, shares representing in the aggregate more than 50 percent of the voting
shares of the Company issuing cash or securities in the consolidation or merger (or of its ultimate parent corporation, if any),
or (B) any sale or other transfer (in one transaction or a series of transactions contemplated or arranged by any party as
a single plan) of all or substantially all of the assets of the Company.

 

    	 	9	 

     

    

 

Notwithstanding the foregoing, a “Change
in Control” shall not be deemed to have occurred for purposes of the foregoing clause (i) solely as the result
of an acquisition of securities by the Company which, by reducing the number of shares of Voting Securities outstanding, increases
the proportionate number of Voting Securities beneficially owned by any person to 50 percent or more of the combined voting power
of all of the then outstanding Voting Securities; provided, however, that if any person referred to in this sentence shall thereafter
become the beneficial owner of any additional shares of Voting Securities (other than pursuant to a stock split, stock dividend,
or similar transaction or as a result of an acquisition of securities directly from the Company) and immediately thereafter beneficially
owns 50 percent or more of the combined voting power of all of the then outstanding Voting Securities, then a “Change in
Control” shall be deemed to have occurred for purposes of the foregoing clause (i).

 

7.             Section 409A.

 

(a)            Anything
in this Agreement to the contrary notwithstanding, if at the time of your separation from service within the meaning of Section 409A
of the Code, the Company determines that you are a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of
the Code, then to the extent any payment or benefit that you become entitled to under this Agreement or otherwise on account of
your separation from service would be considered deferred compensation otherwise subject to the 20 percent additional tax imposed
pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the
Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six
months and one day after your separation from service, or (B) your death. If any such delayed cash payment is otherwise payable
on an installment basis, the first payment shall include a catch-up payment covering amounts that would otherwise have been paid
during the six-month period but for the application of this provision, and the balance of the installments shall be payable in
accordance with their original schedule.

 

(b)            All
in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred
by you during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively practicable,
but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the
expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not
affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year (except for any
lifetime or other aggregate limitation applicable to medical expenses). Such right to reimbursement or in-kind benefits is not
subject to liquidation or exchange for another benefit.

 

(c)            To
the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation”
under Section 409A of the Code, and to the extent that such payment or benefit is payable upon your termination of employment,
then such payments or benefits shall be payable only upon your “separation from service.” The determination of whether
and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation
Section 1.409A--1(h).

 

    	 	10	 

     

    

 

(d)            The
parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any
provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read
in such a manner so that all payments hereunder comply with Section 409A of the Code. Each payment pursuant to this Agreement
is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). The parties agree
that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A
of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without
additional cost to either party.

 

(e)            The
Company makes no representation or warranty and shall have no liability to you or any other person if any provisions of this Agreement
are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from,
or the conditions of, such Section.

 

8.             Continuing
Obligations.

 

(a)            Restrictive
Covenants Agreement. [FOR EXISTING EXECS] [The terms of [Section 7 of the Prior Agreement] [the Employee Confidentiality,
Assignment and Non-Solicitation Agreement, dated [______________] between the Company and you, attached hereto as Exhibit B,]
(the “Restrictive Covenants Agreement”) continue to be in full force and effect, are unamended and unaltered by this
Agreement.][FOR NEW MA-BASED EXECS] [As a condition of employment, you are required to enter into the Employee Confidentiality,
Assignment and Non-Solicitation Agreement, attached hereto as Exhibit B (the “Restrictive Covenants Agreement”).
You acknowledge and agree that you received the Restrictive Covenants Agreement with this Agreement and at least ten (10) business
days before the commencement of your employment.] For purposes of this Agreement, the obligations in this Section 8 and
those that arise in the Restrictive Covenants Agreement and any other agreement between you and the Company relating to confidentiality,
assignment of inventions, or other restrictive covenants shall collectively be referred to as the “Continuing Obligations.

 

(b)            Third
Party Agreements and Rights. You hereby confirm that you are not bound by the terms of any agreement with any previous employer
or other party which restricts in any way your use or disclosure of information, other than confidentiality restrictions (if any),
or your engagement in any business. You represent to the Company that your execution of this Agreement, your employment with the
Company and the performance of your proposed duties for the Company will not violate any obligations you may have to any such
previous employer or other party. In your work for the Company, you will not disclose or make use of any information in violation
of any agreements with or rights of any such previous employer or other party, and you will not bring to the premises of the Company
any copies or other tangible embodiments of non-public information belonging to or obtained from any such previous employment
or other party.

 

(c)            Litigation
and Regulatory Cooperation. During and after your employment, you shall cooperate with the Company, upon reasonable request
and reasonable notice, in (i) the defense or prosecution of any claims or actions now in existence or which may be brought
in the future against or on behalf of the Company which relate to matters with which you were involved while you were employed
by the Company, and (ii) the investigation, whether internal or external, of any matters about which the Company believes
you may have knowledge or information. Your cooperation in connection with such claims, actions or investigations shall include,
but not be limited to, upon reasonable request and reasonable notice, being available to meet with counsel to answer questions
or to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually convenient times. The Company
shall reimburse you for any reasonable out-of-pocket expenses incurred in connection with your performance of obligations pursuant
to this Section 8(c).

 

    	 	11	 

     

    

 

(d)            Relief.
You agree that it would be difficult to measure any damages caused to the Company which might result from any breach by you of
the Continuing Obligations, and that in any event money damages would be an inadequate remedy for any such breach. Accordingly,
you agree that if you breach, or propose to breach, any portion of the Continuing Obligations, the Company shall be entitled,
in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such
breach without showing or proving any actual damage to the Company.

 

(e)            Protected
Disclosures and Other Protected Action. Nothing in this Agreement shall be interpreted or applied to prohibit you from making
any good faith report to any governmental agency or other governmental entity (a “Government Agency”) concerning any
act or omission that you reasonably believe constitutes a possible violation of federal or state law or making other disclosures
that are protected under the anti-retaliation or whistleblower provisions of applicable federal or state law or regulation. In
addition, nothing contained in this Agreement limits your ability to communicate with any Government Agency or otherwise participate
in any investigation or proceeding that may be conducted by any Government Agency, including your ability to provide documents
or other information, without notice to the Company. In addition, for the avoidance of doubt, pursuant to the federal Defend Trade
Secrets Act of 2016, you shall not be held criminally or civilly liable under any federal or state trade secret law or under this
Agreement or the Restrictive Covenants Agreement 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.

 

9.             Arbitration
of Disputes.

 

(a)            Arbitration
Generally. Any controversy or claim arising out of or relating to this Agreement or the breach thereof or otherwise arising
out of your employment or the termination of that employment (including, without limitation, any claims of unlawful employment
discrimination or retaliation, whether based on race, religion, national origin, sex, gender, age, disability, sexual orientation,
or any other protected class under applicable law, including without limitation Massachusetts General Laws Chapter 151B) shall,
to the fullest extent permitted by law, be settled by arbitration in any forum and form agreed upon by the parties or, in the
absence of such an agreement, under the auspices of JAMS in Boston, Massachusetts in accordance with the JAMS Employment Arbitration
Rules, including, but not limited to, the rules and procedures applicable to the selection of arbitrators. You understand
that you may only bring such claims in your individual capacity, and not as a plaintiff or class member in any purported class
proceeding or any purported representative proceeding. You further understand that, by signing this Agreement, the Company and
you are giving up any right they may have to a jury trial on all claims they may have against each other. Judgment upon the award
rendered by the arbitrator may be entered in any court having jurisdiction thereof. This Section 9 shall be specifically
enforceable. Notwithstanding the foregoing, this Section 9 shall not preclude either party from pursuing a court action for
the sole purpose of obtaining a temporary restraining order or a preliminary injunction in circumstances in which such relief
is appropriate, including without limitation relief sought under the Restrictive Covenants Agreement; provided that any other
relief shall be pursued through an arbitration proceeding pursuant to this Section 9.

 

    	 	12	 

     

    

 

(b)            Arbitration
Fees and Costs. You shall be required to pay an arbitration fee to initiate any arbitration equal to what you would be charged
as a first appearance fee in court. The Company shall advance the remaining fees and costs of the arbitrator. However, to the
extent permissible under the law, and following the arbitrator’s ruling on the matter, the arbitrator may rule that
the arbitrator’s fees and costs be distributed in an alternative manner. Each party shall pay its own costs and attorneys’
fees, if any. If, however, any party prevails on a statutory or contractual claim that affords the prevailing party attorneys’
fees (including pursuant to this Agreement), the arbitrator may award attorneys’ fees to the prevailing party to the extent
permitted by law.

 

10.           Consent
to Jurisdiction. To the extent that any court action is permitted consistent with or to enforce Section 9 of this
Agreement, the parties hereby consent to the jurisdiction of the state and federal courts of the Commonwealth of Massachusetts.
Accordingly, with respect to any such court action, you (a) submit to the personal jurisdiction of such courts; (b) consent
to service of process; and (c) waive any other requirement (whether imposed by statute, rule of court, or otherwise)
with respect to personal jurisdiction or service of process.

 

11.           Integration.
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all
prior agreements between the parties concerning such subject matter[, including the Prior Agreement, provided that the Continuing
Obligations (including the Restrictive Covenants Agreement) and the Equity Documents remain in full force and effect].

 

12.           Withholding;
Tax Effect. All payments made by the Company to you under this Agreement shall be net of any tax or other amounts required
to be withheld by the Company under applicable law. Nothing in this Agreement shall be construed to require the Company to make
any payments to compensate you for any adverse tax effect associated with any payments or benefits or for any deduction or withholding
from any payment or benefit.

 

13.           Assignment.
Neither you nor the Company may make any assignment of this Agreement or any interest in it, by operation of law or otherwise,
without the prior written consent of the other; provided, however, that the Company may assign its rights and obligations under
this Agreement (including the Restrictive Covenants Agreement) without your consent to any affiliate or to any person or entity
with whom the Company shall hereafter effect a reorganization, consolidate with, or merge into or to whom it transfers all or
substantially all of its properties or assets; provided further that if you remain employed or become employed by the Company,
the purchaser or any of their affiliates in connection with any such transaction, then you shall not be entitled to any payments,
benefits or vesting pursuant to Section 5 or pursuant to Section 6 of this Agreement. This Agreement shall inure to
the benefit of and be binding upon you and the Company, and each of yours and the Company’s respective successors, executors,
administrators, heirs and permitted assigns.

 

    	 	13	 

     

    

 

14.           Enforceability.
If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this
Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of
this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared
illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable
to the fullest extent permitted by law.

 

15.           Survival.
The provisions of this Agreement shall survive the termination of this Agreement and/or the termination of your employment to
the extent necessary to effectuate the terms contained herein.

 

16.           Waiver.
No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of any
party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this
Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

 

17.           Notices.
Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and delivered
in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return
receipt requested, to you at the last address you have filed in writing with the Company or, in the case of the Company, at its
main offices, attention of the Board.

 

18.           Amendment.
This Agreement may be amended or modified only by a written instrument signed by you and by a duly authorized representative of
the Company.

 

19.           Effect
on Other Plans and Agreements. In the event that you are a party to an agreement with the Company providing for payments
or benefits under such plan or agreement and under this Agreement, the terms of this Agreement shall govern and you may receive
payment under this Agreement only and not both. Further, Section 5 and Section 6 of this Agreement are mutually exclusive
and in no event shall you be entitled to payments or benefits pursuant to both Section 5 and Section 6 of this Agreement.

 

20.           Governing
Law. This is a Massachusetts contract and shall be construed under and be governed in all respects by the laws of the
Commonwealth of Massachusetts, without giving effect to the conflict of laws principles of such State. With respect to any disputes
concerning federal law, such disputes shall be determined in accordance with the law as it would be interpreted and applied by
the United States Court of Appeals for the First Circuit.

 

21.           Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be
an original; but such counterparts shall together constitute one and the same document.

 

    	 	14	 

     

    

 

IN WITNESS WHEREOF, the parties have executed
this Agreement effective on the Effective Date.

 

	 	908 DEVICES INC.
	 	 
	 	 
	 	By:	                  
	 	By
	 	Its:
	 	Date:
	 	 
	 	 
	 	 
	 	EXECUTIVE
	 	 
	 	 
	 	[Name]
	 	Date:

 

    	 	15	 

     

    

 

Exhibit A

 

RELEASE OF CLAIMS

 

This Release of Claims (the “Release”
or the “Agreement”) is entered into by and between ________ (“You”) and 908 Devices Inc. (the “Company”),
in connection with the “Employment Agreement” between you and the Company dated __________. This is the Release referenced
in the Employment Agreement. Terms with initial capitalization that are not otherwise defined in this Release have the meanings
set forth in the Employment Agreement. The consideration for your agreement to this Release consists of the severance benefits
provided under the Employment Agreement.

 

1.             Tender
of Release. This Release is automatically tendered to you upon the date of the termination of your employment as a result
of the termination of your employment by the Company without Cause or by you for Good Reason.

 

2.             Release
of Claims. In consideration for your severance benefits under the Employment Agreement (which shall be paid or provided in
accordance with, and subject to, the Employment Agreement), and for other valuable and sufficient consideration, you voluntarily
release and forever discharge the Company, its affiliated and related entities, its and their respective predecessors, successors
and assigns, its and their respective employee benefit plans and fiduciaries of such plans, and the current and former members,
partners, directors, officers, managers, unitholders, shareholders, other interest holders, employees, attorneys, accountants,
other agents and agents of each of the foregoing in their official and personal capacities (collectively referred to as the “Releasees”)
generally from all claims, demands, debts, damages and liabilities of every name and nature, known or unknown (collectively, “Claims”)
that, as of the date when you sign this Release, you have, ever had, now claims to have or ever claimed to have had against any
or all of the Releasees. This general release of Claims includes, without implication of limitation, the release of all Claims:

 

		·	relating to
                                         your employment by and termination from employment with the Company or any related entity;
		·	of wrongful discharge or violation of public policy;
		·	of breach of contract;
		·	of discrimination or retaliation under federal, state or
                                         local law (including, without limitation, Claims of age discrimination or retaliation
                                         under the Age Discrimination in Employment Act, Claims of disability discrimination or
                                         retaliation under the Americans with Disabilities Act, and Claims of discrimination or
                                         retaliation under Title VII of the Civil Rights Act of 1964;
		·	under any other federal or state statute or constitution
                                         or local ordinance, [including without limitation the California Fair Employment and
                                         Housing Act, the California Family Rights Act and the California Labor Code1;]
		·	of defamation or other torts;

 

 

1
If the Executive is located in California, or was located in California during the Executive’s employment with
the Company, this bracketed language shall apply.

 

     

     

    

 

		·	for wages,
                                         bonuses, incentive compensation, commissions, stock, stock options, vacation pay or any
                                         other compensation or benefits, either under the Massachusetts Wage Act, M.G.L. c. 149,
                                         §§148-150C, or otherwise; and
		·	for damages or other remedies of any sort, including, without
                                         limitation, compensatory damages, punitive damages, injunctive relief and attorney’s
                                         fees.

 

provided that, in no event shall the foregoing be deemed
to waive or release (i) your rights under this Release; (ii) any right of indemnification I may have under contract
or law, including, without limitation, for any liabilities arising from your actions within the course and scope of your employment
with the Company; (iii) any rights which cannot be waived as a matter of law; (iv) to the Accrued Obligations and to
any rights you have to severance under the Agreement and (v) any rights you have under the Equity Documents.

 

[In furtherance of your release of Claims,
known and unknown, you hereby expressly waive any and all benefits you may have, if any, under Section 1542 of the California
Civil Code (“Section 1542”). The Company represents that Section 1542 states the following:

 

A general release does not extend
to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which
if known by him or her must have materially affected his or her settlement with the debtor.

 

The Company further states that for purposes
of this Agreement, the term “creditor” in Section 1542 refers to you and the term “debtor” in Section 1542
refers to the Company. You acknowledge that you are releasing unknown claims and waiving all rights you have or may have under
Section 1542 or under any other statute or common law principle of similar effect; provided that you are not waiving
any rights or claims that may arise out of acts or events that occur after the date on which you sign this Agreement.2]

 

You agree not to accept damages of any nature,
other equitable or legal remedies for your own benefit or attorney’s fees or costs from any of the Releasees with respect
to any Claim released by this Agreement. As a material inducement to the Company to enter into this Agreement, you represent that
you have not assigned any Claim to any third party.

 

3.             Your
Ongoing Obligations. You hereby reaffirm your ongoing obligations to the Company, including, without limitation, (i) your
restrictive covenant obligations and other ongoing obligations under the Employment Agreement (which include, for the avoidance
of doubt Section 8 of the Employment Agreement) and the Restrictive Covenants Agreement; and (ii) any other restrictive
covenant obligation you have to the Company and/or any of its affiliates (collectively, the “Restrictive Covenant Obligations”).
The Restrictive Covenant Obligations are incorporated herein by reference. Notwithstanding anything to the contrary in the Restrictive
Covenants Agreement or other Restrictive Covenant Obligations, you hereby further agree that you are not entitled to or eligible
for any garden leave pay or other noncompetition consideration under the Restrictive Covenant Obligations, and that your Restrictive
Covenant Obligations (including without limitation your post-employment noncompetition obligations) nevertheless remain in full
effect.

 

 

2
If the Executive is located in California, or was located in California during the Executive’s employment with
the Company, this bracketed language shall apply:

 

     

     

    

 

4.             Nondisparagement.
You agree not to make any disparaging, critical or otherwise detrimental statements to any person or entity concerning any Releasee,
any Releasee’s affiliates, employees, directors, officers, managers, members or other agents, or the products or services
of any Releasee. The Company agrees to instruct its officers and directors not to make any disparaging, critical or otherwise
detrimental statements about you. This obligation shall not in any way affect the above-referenced persons’ obligation to
testify truthfully in any legal proceeding. The Restrictive Covenant Obligations and this Section 4 are referred to as the
 “Ongoing Obligations.”

 

5.             Confidentiality
of Agreement-Related Information. You agree, to the fullest extent permitted by law, to keep all Agreement-Related Information
completely confidential. “Agreement-Related Information” means the negotiations leading to this Agreement and the
terms of this Agreement. Notwithstanding the foregoing, you may disclose Agreement-Related Information to your spouse, your attorney
and your financial advisors, and to them only provided that they first agree for the benefit of the Company to keep Agreement-Related
Information confidential. You represent that during the period since the date of this Release, you have not made any disclosures
that would have been contrary to the foregoing obligation if it had then been in effect. Nothing in this section shall be
construed to prevent you from disclosing Agreement-Related Information to the extent required by a lawfully issued subpoena or
duly issued court order; provided that you provide the Company with advance written notice and a reasonable opportunity
to contest such subpoena or court order.

 

6.             Return
of Property. You confirm that, to the best of your knowledge, you have returned to the Company all Company property, including,
without limitation, computer equipment, software, keys and access cards, credit cards, files and any documents (including computerized
data and any copies made of any computerized data or software) containing information concerning the Company, its business or
its business relationships. You also commit to deleting and finally purging any duplicates of files or documents that may contain
Company information from any computer or other device that remains your property after the Date of Termination. In the event that
you discover that you continue to retain any such property, you shall return it to the Company immediately.

 

7.             Protected
Disclosures and Other Protected Actions. Nothing contained in this Agreement limits your ability to file a charge or complaint
with any federal, state or local governmental agency or commission (a “Government Agency”). In addition, nothing contained
in this Agreement limits your ability to communicate with any Government Agency or otherwise participate in any investigation
or proceeding that may be conducted by any Government Agency, including your ability to provide documents or other information,
without notice to the Company, nor does anything contained in this Agreement apply to truthful testimony in litigation. If you
file any charge or complaint with any Government Agency and if the Government Agency pursues any claim on your behalf, or if any
other third party pursues any claim on your behalf, you waive any right to monetary or other individualized relief (either individually,
or as part of any collective or class action).

 

     

     

    

 

8.             Defend
Trade Secrets Act. For the avoidance of doubt, pursuant to the federal Defend Trade Secrets Act of 2016, you 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.

 

9.             No
Assignment. You represent that you have not assigned to any other person or entity any Claims against any Releasee.

 

10.           Right
to Consider and Revoke Release. You acknowledge that you have been given the opportunity to consider this Release for a period
of 213 days (the “Consideration Period”).
In the event you executed this Release before the end of the Consideration Period, you acknowledge that such decision was entirely
voluntary and that you had the opportunity to consider this Release until the end of the Consideration Period. To accept this
Release, you shall deliver a signed Release to the undersigned Company representative before the end of the Consideration Period.
For a period of seven (7) business days from the date when you execute this Release (the “Revocation Period”),
you shall retain the right to revoke this Release by written notice that is received by the undersigned on or before the last
day of the Revocation Period. This Release shall take effect only if it is executed within the Consideration Period as set forth
above and if it is not revoked pursuant to the preceding sentence. If the conditions set forth in this Section are satisfied,
this Release shall become effective and enforceable on the date immediately following the last day of the Revocation Period. You
acknowledge that you have been advised by the Company to discuss all aspects of this Release with your attorney, that you have
carefully read and fully understands all of the provisions of this Release and that you are voluntarily entering into this Release.

 

11.           Other
Terms.

 

a.            Termination
of Payments. If you materially breach any of the Ongoing Obligations, in addition to any other legal or equitable remedies
the Company may have for such breach, the Company shall have the right to terminate its payments to you or for your benefit under
this Release. The termination of such payments in the event of your breach will not affect your Ongoing Obligations.

 

b.            Binding
Nature of Release. This Release shall be binding upon you and upon your heirs, administrators, representatives and executors.

 

c.            Modification
of Release; Waiver. This Release may be amended only upon a written agreement executed by you and an authorized representative
of the Company.

 

 

3
The parties agree that this 21-day period shall be extended to 45 days in the event you are terminated in connection
with an “exit incentive or other employment termination program,” as defined and described in the regulations issued
under the Older Workers’ Benefits Protection Act.

 

     

     

    

 

d.            Severability.
In the event that at any future time it is determined by a court of competent jurisdiction that any covenant, clause, provision
or term of this Release is illegal, invalid or unenforceable, (i) the parties agree that the court should reform the applicable
provision and enforce it to the maximum permissible extent; (ii) if such reformation is not permissible, the illegal, invalid
or unenforceable term or provision shall be severed from the remainder of this Release; and (iii) in any event, the remaining
provisions and terms of this Release shall not be affected by such reformation or severance.

 

e.             Governing
Law and Interpretation; Jurisdiction. This Release shall be deemed to be made and entered into in Massachusetts,4
and shall in all respects be interpreted, enforced and governed under such state’s laws, without giving effect
to its conflict of laws provisions. The parties hereby submit to the exclusive jurisdiction and exclusive venue of the courts
of such state for the resolution of all disputes related to or arising under (i) this Release; and/or (ii) your employment
with, and termination of employment from, the Company. The language of all parts of this Release shall in all cases be construed
as a whole, according to its fair meaning, and not strictly for or against either of the parties.

 

f.             Entire
Agreement; Absence of Reliance. This Release, any documents governing any of your equity rights, and the Ongoing Obligations
constitute the entire agreement between you and the Company and supersede any previous agreements or understandings between you
and the Company. You acknowledge that you are not relying on any promises or representations by the Company or the agents, representatives
or attorneys of any of the entities within the definition of Company regarding any subject matter addressed in this Release.

 

IN WITNESS WHEREOF, the parties have executed this Release:

 

 

	 	908 Devices Inc.
	 	 
	 	By:	             
	 	 
	 	 
	 	Its:	           
	 	 
	 	 
	 	 
	 	Date
	 	 
	 	 
	 	[NAME]
	 	 
	 	 
	 	[Name]
	 	 
	 	 
	 	 
	 	Date

 

 

4
If the Executive is located in California as of the date of termination, replace Massachusetts with California.

 

     

     

    

 

[Exhibit B

 

Restrictive Covenants Agreement5]

 

 

 

 

 

5
Remove if not applicable to Mr. Basarky and Mr. Griffith.

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